HIDDEN SUPPORT
Corporate sponsors are now hidden from anti-drug non-profit’s website
Non-profit Community Anti-Drug Coalitions of America (CADCA), which opposes the Cannabis Administration and Opportunity Act, has removed a page publishing a long list of corporate sponsors, reports Marijuana Moment.
The page included companies like the National Football League, which is funding major medical cannabis research; Deloitte, whose Canadian branch provides consulting services to the cannabis industry, and Purdue Pharma.
While it’s unclear what the relationship is between the companies listed and the CADCA’s efforts, cannabis reform advocates expressed disappointment on Twitter and elsewhere. After Marijuana Moment inquired about said relationship, the list on the site was removed and replaced with the message: “page or resource you were trying to reach is forbidden for some reason.”
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INITIATIVE CONCERNS
Florida cannabis divided on how adult-use legalization should roll out
Critics are pushing back against an initiative supported by Trulieve to legalize adult-use cannabis, reports MJBizDaily.
Some advocates are concerned that the initiative:
- Doesn’t allow home cultivation
- Would largely benefit existing medical cultivators and dispensaries
- Wouldn’t provide additional licences
Shaleen Title, cannabis equity advocate and former Massachusetts regulator called it “one of the most revolting, monopolistic (legalization) measures yet.”
PARKING FINES
Times Square cannabis trucks ticketed and towed
Trucks selling marijuana in New York’s Times Square have received more than USD $200,000 in parking tickets and towed, reports the New York Daily News.
According to the report:
- Weed World paid more than USD $200,000 in parking tickets and 12 of its trucks were towed on Monday
- An additional 19 trucks were selling edibles without permits on Tuesday
- By Wednesday, Times Square was cannabis “truck-free”
“If you are looking to buy illegal cannabis from the Weed World Bus located on 5th Avenue & 40th street, it is no longer open for business,” tweeted NYPD chief of patrol Jeffrey Maddrey . “We do not anticipate it opening for business anytime soon!”
IMPORT BARRIERS
Supply issues could thwart Intercure’s steady growth
Israel’s Intercure has seen strong revenue and profit growth through the latter half of 2022 so far, but warns that looming supply issues could soon slow its progress, per BusinessCann.
The details
- Patient numbers have plateaued
- Importing cannabis into Israel remains difficult
- The company’s price fell by 4% after reporting its Q2 earnings, which were $2 million short of revenue projections at $37.5 million
- Revenues were up by nearly 10% compared to the previous quarter and up 110% for the same quarter in 2021
But barriers to imports due to the “109 Protocol” mean inventory could suffer. “There is no official data regarding total inventory in Israel,” CEO Alexander Rabinovich told shareholders. “I would say there is no shortage of inventory on the low and medium quality. But if the new regulation continues to keep importation out, we will be missing high quality products shortly in Israel.”
