As debt looms, Canadian cannabis company Aleafia starts strategic review

Canadian cannabis producer Aleafia Health has launched a strategic review process to determine the company’s options as it amends the terms of a loan from lender NE SPC II. Aleafia is currently in breach of the loan’s financial covenants, according to a Thursday news release. ADVERTISEMENT The loan was previously payable on demand, but NE […]

Lowell Farms sells cannabis processing plant for $19 million in leaseback deal

Vertically integrated California cannabis operator Lowell Farms sold its Monterey County processing plant for $19.4 million to New Wilston Associates and entered a leaseback agreement with the company. Under terms of the deal, Lowell signed a 10-year lease on the 10-acre site, which includes a 40,000-square-foot facility where it cultivates and processes marijuana for its […]

House-Passed Fentanyl Criminalization Bill Would Also Make It Easier To Study Marijuana And Psychedelics

Drug policy reform advocates are condemning the House’s passage of a bill that would ramp up federal criminalization of fentanyl analogues—criticizing the move as a backwards, punitive response to the overdose crisis—even if it does contain additional provisions to streamline research into Schedule I drugs like marijuana and psychedelics. The House approved the Halt All […]

Nevada Legislature Tells Congress To Legalize Marijuana Through Newly Passed Resolution

The Nevada Senate has approved a resolution urging Congress to federally legalize marijuana. About a month after the Assembly passed the legislation from Assemblyman Reuben D’Silva (D), the Senate advanced it in a vote of 18-3 on Wednesday. It states that cannabis has “many well documented medical uses,” yet remains a Schedule I drug under […]

Oregon marijuana retail chain Chalice Farms seeks receivership

Canadian holding company Chalice Brands, doing business as Chalice Farms, filed court documents asking to place five of its Oregon subsidiaries under receivership. The subsidiaries, which are part of Oregon’s third-largest retail chain, are unable to pay roughly $35 million in debts, Willamette Week reported. ADVERTISEMENT Chalice filed documents with Multnomah County Circuit Court on […]

Louisiana House Approves Marijuana Expungements Bill, Sending It To Senate

The Louisiana House of Representatives has approved a bill to streamline expungements for people with first-time marijuana possession convictions. The legislation from Rep. Delisha Boyd (D) cleared the chamber in a 69-30 vote on Tuesday, sending it to the Senate. It makes it so people who are convicted of possessing up to 14 grams of […]

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