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Cannabis banking reform could be passed before midterm elections in November


Could SAFE banking ‘be passed before midterms’?

Cannabis banking reform could be passed before midterm elections in November, according to Jeff Schultz, a partner at New York-based Feuerstein Kulick, per Proactive Investors. He was speaking at a recent Jefferies Cannabis Summit event.

His theory is that passing the legislation could be “low-hanging bipartisan fruit” that will help Democrats win votes in November.

As for full federal legalization, Schultz said the bills that have been put forward thus far from Republicans and Democrats aren’t bipartisan enough to garner enough support.

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Cannabis retailers in both Canada and the US are slashing prices more than ever

Store operators on both sides of the border are selling products at deeper discounts than ever, according to MJBizDaily.

Per data collected by Headset:

  • Discounts on flower in Washington state reached 23% in April 
  • Discounts on flower in Nevada totalled more than 20%
  • Discounts in Canadian provinces are lower, but higher than they’ve ever been: Ontario’s topped at 4.1% in April

Krista Raymer, founder of Toronto’s Vetrina Group, attributes the trend to the huge number of brands and products available, which have led to “bulging” inventories of unsold goods.


Canada’s Cannabis Amnesty group launches ‘Legalize Us’ campaign

More than three years after legalization, approximately 500,000 Canadians still have criminal records associated with cannabis, which impacts their ability to secure housing, employment, loans and more.

Cannabis Amnesty, a group committed to righting the wrongs of prohibition, launched a new fundraising and awareness campaign which will help them continue advocating for justice reform, educating the public and industry, and assisting those with criminal records.

“While Canada was at the forefront of legalization, we’ve fallen far behind when it comes to amnesty and equity,” reads the site. “That is why we are fighting to clear cannabis-related criminal records and heal the scars left by the failed war on drugs.”


B.C. First Nation plans winery-like cannabis experience

Sugar Cane Cannabis could be the first farmgate store in B.C. and on First Nations land, per Global News.

The plan is to create a shopping experience that’s so far not permitted in provincially regulated cannabis retail.

“They’ll be able to come in, they’ll be able to see the product, they’ll be able to smell it,” said COO Daniel Penny. “And ultimately, they’ll be able to hold the cannabis in their hand … less than a month after it’s been processed.”

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