Newsletter
McConnell slams cannabis banking measure in COVID bill (Newsletter: May 15, 2020)
El Paso OKs marijuana cite & release policy; Portland psychedelics decrim group pursues Council; Industry asks govs to legalize for economic boost
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/ TOP THINGS TO KNOW
Senate Majority Leader Mitch McConnell (R-KY) took to the Senate floor to slam House Democrats for including marijuana industry diversity study provisions in their new coronavirus bill’s cannabis banking section. And many other Republican lawmakers are criticizing the fact that marijuana reform is in the legislation at all.
The El Paso, Texas City Council approved a measure that encourages police to issue citations for low-level marijuana possession instead of arresting people and bringing them to jail.
Activists working to decriminalize psychedelics locally in Portland, Oregon have announced they’re giving up on a ballot initiative and will now pursue reform through the City Council. One lawmaker has already expressed interest in sponsoring the measure, they said.
The National Association of Cannabis Businesses sent letters urging governors in the Northeast U.S. to legalize marijuana to aid the economic recovery from the coronavirus pandemic.
/ FEDERAL
The White House Office of National Drug Control Policy is proposing that it be able to declare an “emerging drug threat” based on “increased discussion through online drug user sites regarding a new or evolving drug, class of drugs, or other substances,” among other criteria.
Rep. Earl Blumenauer (D-OR) said there is “more momentum in the cannabis space than I’ve seen in the over 30 years I’ve been working on this issue.”
Reps. Joe Kennedy (D-MA) and Joyce Beatty (D-OH) cheered the inclusion of language allowing people with prior convictions to receive relief funds in the latest House coronavirus bill.
Rep. Gwen Moore (D-WI) and 25 other lawmakers sent a letter asking House leaders to end the ban on SNAP and TANF benefits for people convicted of drug felonies.
Rep. Dwight Evans (D-PA) tweeted, “As vice chair of the House Small Business Committee & a supporter of this common-sense #cannabis [banking] legislation, I’m pleased that it’s included in the #HeroesAct!”
Tennessee Democratic congressional candidate Christopher Hale tweeted, “I told @SpeakerBoehner recently what I’m telling you: I’ll be the greatest pro-marijuana Congressman that God ever made.”
/ STATES
California Gov. Gavin Newsom (D) is delaying previously announced proposals to merge the state’s marijuana regulatory agencies and streamline cannabis tax collection due to the coronavirus outbreak. Separately, regulators are letting marijuana businesses defer license fee payments for 60 days.
Massachusetts Gov. Charlie Baker (R) is being asked by the mayors of nine cities to let recreational marijuana stores reopen.
Arizona’s House Democratic Caucus tweeted to mourn the passing of a local marijuana legalization advocate who led the state’s NORML chapter.
Michigan regulators issued a recall of medical cannabis vape cartridges due to the presence of vitamin E acetate.
Maryland regulators issued guidance on medical cannabis business transfer of ownership or control.
Washington State regulators will hold a listen and learn forum about draft conceptual rules regarding a voluntary marijuana licensee consultation and education program on May 28.
Rhode Island senators filed a bill to track hemp and marijuana using blockchain technology.
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/ INTERNATIONAL
An adviser to the Court of Justice of the European Union said that France’s ban on CBD products is in contravention of EU law.
Veterans Affairs Canada tweeted that requests for medical cannabis are still being processed during the coronavirus pandemic.
/ SCIENCE & HEALTH
A review concluded that “medical cannabis is a potentially effective and cost-effective treatment for drug-resistant epilepsy that may addresses an unmet need.”
A survey that asked people about their cannabis consumption twice found that “among those not reporting marijuana use, 31.2% subsequently reported use when asked again” and that “prevalence of use increased from 73.7% to 81.9% after correcting responses.”
The latest issue of the journal World Psychiatry has several articles on the impact of marijuana legalization.
/ ADVOCACY, OPINION & ANALYSIS
Amnesty International, Canadian Nurses Association, Canadian Public Health Association, Canadian AIDS Society and other organizations are calling on the Canadian government to decriminalize drug possession.
/ BUSINESS
HEXO Corp. revealed that it was warned its low share price does not meet New York Stock Exchange standards.
Charlotte’s Web Holdings, Inc. reported $21.5 million in quarterly revenue and a net loss of $11.5 million.
Green Thumb Industries Inc. reported quarterly revenue of $102.6 million and a net loss of $4.2 million.
Aurora Cannabis Inc. reported quarterly net revenue of $78.4 million and an adjusted loss of $45.9 million.
Columbia Care, Inc. reported quarterly revenue of $26.3 million and a net loss of $20.6 million.
Vireo Health International, Inc. reported quarterly revenue of $9.0 million and a loss of $37.1 million.
The Associated Press Stylebook tweeted, “A new addition to the Stylebook’s drug terms: When referring to the fungi that are commonly used as a recreational drug, call them psychedelic mushrooms in the first reference and mushrooms in subsequent references. Magic mushrooms is acceptable in quotations.”
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