TIME FOR CHANGE
“Russian authorities need to stop using Griner as a political pawn“
WNBA star Brittney Griner’s ongoing trial in Russia for cannabis possession should nudge lawmakers in the US to reform its similarly “draconian” marijuana laws, writes Sarah Gersten of Last Prisoner Project in an op-ed for USA Today.
Griner faces 10 years in prison if convicted. In the United States, cannabis is still a Schedule 1 drug—meaning Americans could also face jail time for flying with hash oil, the same crime Griner pleaded guilty to last week.
- More than 100,000 Americans are detained awaiting court proceedings for drug charges
- Non-Americans are prosecuted for crossing the border with marijuana
- 68% of Americans support legalization
- 70% support expunging non-violent cannabis convictions
“Russian authorities need to stop using Griner as a political pawn and release her from detention,” writes Gersten. “At the same time, U.S. authorities must stop acting hypocritically and change our laws so we’re not continuing to unjustly detain people for cannabis here at home.”
Enjoy Cannabis Daily each morning at 7 a.m.
CONFUSING CLAIMS
Were unlicensed cannabis shops in New York asked to cease and desist?
After New York’s Office of Cannabis Management sent out a press release last Thursday saying it had sent cease and desist letters to 52 “illegal” cannabis gifting stores in the state, a Syracuse.com reporter who spoke to several shop operators on the list reported the situation is a little more confusing than that.
According to the report:
- One store owner confirmed they had been gifting cannabis until the police stopped by about a month ago and that they had received a cease and desist letter shortly thereafter
- Another said they operated a gifting shop but that they had not received a cease and desist letter
- Another said they do not operate a gifting shop at all and that they “didn’t survive a pandemic to be put through whatever this is”
“All of this mixed together to form a very bad, no-good taste in my mouth: There are questions about whether what these folks are doing – gifting – is actually illegal, and there are concerns that at least one of the people listed on the cease and desist letters could be there in error,” writes Syracuse.com’s Brad Racino.
CASH FOR CEO
Columbia Care CEO to receive USD $100 million in cash and stock from Cresco deal
Nicholas Vita, the co-founder and CEO of Columbia Care, is poised to receive more than $100 million in cash and stock after Cresco Labs acquires the company, reports MJBizDaily.
According to regulatory filings, Vita will receive:
- USD $95.5 million in stock
- A USD $12.2 million “change-in-control” benefit paid in installments over three years
- “Accelerated vesting” of Vita’s 15.6 million restricted stock units and 8.6 million performance stock units
Fred Whittlesey, founder of the Compensation Venture Group in Seattle, said the package was unusual. “What is atypical is for a founder-CEO who is such a significant shareholder to have any arrangements for change in control … when he’s getting nearly $100 million (in stock in the deal),” he said.
ICBC
ICBC Berlin 2022 will be its biggest yet, says founder Alex Rogers
International Cannabis Business Conference founder and CEO Alex Rogers, whose mentor was The Emperor Wears No Clothes author Jack Herer, explained the origins of the conference to BusinessCann in advance of the event happening in Berlin this week.
German legalization is going to be a major focus of this year’s conference, which is likely to be its biggest yet.
“We’re looking at Germany now coming up with probably one of the most progressive and robust legalisation models ever,” Rogers said. “What we hear is that they’re going to have thousands of dispensaries, and it looks like they’re just letting private businesses do their thing and regulating it accordingly.”
