Weed Talk NEWS – We Cannot Remain Silent, The Cannabis Industry Speaks
Weed Talk NEWS covers a tough week for race relations in the USA
This week’s cannabis business news took a step aside as the nation was rocked with the death of George Floyd and the following protests. Jimmy Young of Pro Cannabis Media hosts a show featuring Deb Borchardt of the Green Market Report, Phil Adams of Vote Pro Pot, Solomon Israel of MJ BIZ International. While there was cannabis news from Canada, many of the producers are still cutting back on capacity and trying to unload assets in order to raise cash.
In the US, Curaleaf was able to raise $60 million but at a decent coupon of over 10% interest. While money is available in the US for cannabis firms, it is not as free flowing as before the cannabis stock market crash. Will funding become available post COVID? If the Senate includes the Safe Banking Act in the next COVID relief bill, we could see asset prices skyrocket and funding options ramping up for the industry.
In Massachusetts, the recreational stores are back open, but with curbside and delivery only for pick-up. Governor Baker approved a similar model that restaurants have been using, although an interesting debate was started by the CCC on whether children can be in the car if you are picking up a medical or recreational cannabis order? Pre-COVID you could not bring a child into a dispensary, but what does the word “premises” imply when picking up a cannabis order? Is a parking lot consider “premises”? If a curbside is done on a public street, how can that be considered an owned-premises by the dispensary?
Interesting times in a very somber week in America, as our hearts go out to the Black community and while we may never understand what it was like to grow up Black, we stand with you that change is necessary and long overdue. We also put an article out last week that the same systematic racism that exists in the criminal justice system is also embedded in the marijuana law structure. Legalizing marijuana and letting out cannabis offenders from jail won’t end racism or solve our problems, but it is a step in the right direction. Minorities have far too long been put in jail and convicted at much higher rates than white cannabis offenders.
You can watch our weekly show every Friday on Facebook, YouTube, or Vimeo. We do a full write up and post it a day or two later. To watch this weeks’ Weed Talk NEWS just click on the YouTube video below, and previous episodes are under that at the bottom of the page.
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