They say that the cannabis industry is never boring, and that’s especially true after this week’s flurry of activity, signaling that summer is officially over. Some updates from the past 48 hours:
New York (finally) gets moving…
Cuomo’s replacement Gov. Kathy Hochul isn’t wasting any more time on the cannabis file, sending two names to the NY State Senate for sign-off to lead the Cannabis Control Board and the Office of Cannabis Management: Tremaine Wright and Chris Alexander, reports Yahoo.
That progress in New York could help move federal legalization along, according to industry veteran and former Canopy Growth CEO Bruce Linton: “I think New York as a market, Schumer as a representative of New York, is going to be a very, very live topic through September,” he told Yahoo. “And to me, that is one of the bigger movers. You say to anybody else on the planet, tell me the name of a city in the U.S., and New York is probably No. 1 90% of the time.”
(With so much happening in New York, you won’t want to miss Business of Cannabis: New York on September 29th.)
and TerrAscend snaps up Gage…
And TerrAscend, which has operations in both the US and Canada, announced its plans to scoop up Toronto-based Gage for $545 million in an all-stock deal, which they say will give them entry into the Michigan market and will bring Gage’s brands into TerrAscend stores in California, New Jersey and Pennsylvania. Details on the deal are here and check out Business of Cannabis’ latest conversation with Gage CEO Fabian Monaco from July.
and Leafly jumps on in-app buying
Now that Apple has given it the okay, Leafly is joining competitors like Weedmaps and Eaze with a new feature in its app that allows users to buy cannabis straight through the platform, reports Benzinga. The feature will allow the company to better-supports its existing retail partners, said CEO Yoko Miyashita.
“As cannabis continues to be one of the fastest-growing industries in our country, increasing access through in-app ordering will only help support local dispensaries and businesses.”
This news also has a Business of Cannabis tie-in as Leafly CEO Miyashita will be speaking at our upcoming event on September 29th in New York.