Mayor of New York launches “support beyond licence” program for cannabis industry

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SUPPORT SERVICES

Mayor of New York launches “support beyond licence” program for cannabis industry

Eric Adams, the mayor of New York City, has launched Cannabis NYC under the Department of Small Business Services, per Marijuana Moment

Cannabis NYC provides:

  • Information designed to provide “support beyond licence” for retailers, all of which are those who have been directly harmed by the War on Drugs
  • Support such as help completing licence applications as well as connecting “aspiring cannabis entrepreneurs to no-cost services, along with technical assistance, to support successful businesses,” according to a press release

At a press conference, Adams said the support services will “light up our economy.”


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STOP AND PAUSE

Nebraska and Oklahoma legalization efforts stalled

Efforts to put legalization to voters on ballots in Oklahoma and Nebraska have hit some snags:

  • In Nebraska, advocates weren’t able to collect enough signatures to put the issue to voters, per Toronto Star
  • Oklahoma advocates have collected more than enough signatures to put adult-use legalization to voters in the state, writes Marijuana Moment. But because it still needs to go to the Supreme Court for review and there’s a 10-day window for public challenges, it may not meet the Aug. 29 deadline for the issue to make its way to this November’s ballot

DELIVERY ISSUES

OCS’s delivery issues show the system needs to change: Ontario Chamber of Commerce

In a statement published on Aug. 22, the vice president of policy at the Ontario Chamber of Commerce (OCC) and chair of the Ontario Cannabis Policy Council said shipping delays to Ontario retailers due to a cyberattack on the third-party logistics partner of the provincial wholesaler show a number of risks associated with the current system. 

Daniel Safayeni highlighted a few points:

  • Delays hurt stores and producers, especially smaller ones
  • Delays boost illicit sales
  • In 2021, the Auditor General warned of risks to data security — recommendations made have thus far not been implemented, according to the OCC VP

“Beyond this, the OCPC has consistently called for the Ontario government to allow licensed producers and retailers to have a direct commercial relationship, enabling them to negotiate their own product mixes, prices, and delivery terms, which would mitigate the risks inherent to the current system.”


A HEALTHY BOOST

Goodbody Health reduces shares to boost share price

Investors in Goodbody Health have been told that the company is applying a 1:10 reverse stock split before it returns to the Aquis Stock Exchange, per BusinessCann

By reducing the number of shares available, the company’s share price will artificially increase.
Citing lack of liquidity last June, Goodbody delisted from the Canadian Stock Exchange and redomiciled to Guernsey. It will launch its shares on the Hargreaves Lansdown trading platform in an effort to  “gain interest from UK investors.”

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