REPUBLICANNS?
Beto O’Rourke says Texas legalization is possible because Republicans get high, too
At a SXSW panel in Austin, Texas, governor hopeful Beto O’Rourke reiterated his commitment to legalizing cannabis—and that the strong Republican force in the state won’t get in the way, reports Benzinga.
“I’ll let you in on a secret: Republicans like to get high just as much as Democrats,” O’Rourke said.
But it will be far from easy, notes the story: Conservative powerhouse Lt. Gov. Dan Patrick, is a powerful force in the state Senate and has said he would prevent cannabis reform. And that’s even if O’Rourke wins. Republican Gov. Greg Abbott, who has served two terms already, has raised $65 million for his campaign. O’Rourke has raised just $7.2 million.
Enjoy Cannabis Daily each morning at 7 a.m.
FIGHTING + REIMAGINING
Dutchie makes massive donation to Last Prisoner Project
Bend, Oregon-based cannabis tech platform Dutchie donated an initial $100,000 and has committed to matching donations up to $1 million to the Last Prisoner Project, according to Bend Bulletin.
Last Prisoner Project, which is a non-profit working to help those with cannabis convictions through record expungement and release, will use the funds to assist 400 Americans who have been released for non-violent cannabis offenses.
“We cannot erase past injustices that people and communities have experienced as a result of decades of failed cannabis policy,” said Dutchie CEO & co-founder Ross Lipson in a statement. “But we can work to bring restitution to those who have been harmed by supporting their release from incarceration and giving them a new lease on life.”
(FINALLY) IN IL
How Illinois is trying to level the cannabis retail playing field
In an effort to make the retail landscape more equitable in Illinois, the state will now ask cannabis retail applicants to fill out a basic online form and pay a $250 fee, rather than hundreds of detailed pages of paperwork requiring expensive consultants and property leases, reports the Chicago Tribune.
Importantly, anyone applying will also now have to qualify as social equity applicant, meaning:
- A majority owner must live in a high-poverty neighbourhood or an area with high-arrest rates for cannabis offenses, or
- They could have been arrested for a low-level cannabis offense, or be related to someone who has
Previously, consulting firm KPMG scored equity applicants, which led to complaints that the process wasn’t fair.
All approved applications will be included in a lottery where 55 lucky licensees will be selected.
TRUST ME NOW?
CannTrust exits creditor protection and plans a re-brand
Two years after being caught growing cannabis in unlicensed cultivation rooms, Ontario-based CannTrust has now exited creditor protection with the help of a subsidiary of Netherlands-based Kenzoll B.V., which provided a $5.5 million secured credit facility and invested $11.2 million for 90% equity interest in subsidiary CannTrust Equity, reports BNN Bloomberg.
CannTrust, which will hold on to the other 10% of its common shares, plans to change its name.
“This marks the end of one long journey and the beginning of a new, exciting era for CannTrust,” said CannTrust CEO Greg Guyatt in a statement. “Today we can take our first step forward, focusing our attention on the bright future that lies ahead, with our new partners, Kenzoll.”
