FEDERAL COMMISSION
U.S. Sentencing Commission considers amendments to how past cannabis convictions can affect sentencing for new convictions
Marijuana Moment reports that the federal U.S. Sentencing Commission (USSC) says it is considering possible amendments to guidelines on whether people’s criminal history for cannabis possession can be used against them in sentencing decisions for new convictions.
The announcement follows Biden’s announcement to review the scheduling status of cannabis and pardon simple cannabis possession, and, if amendments saying that cannabis possession should not be an enhancing factor on charges, or should be a lower consideration, highlights the publication, it could have widespread criminal justice impacts.
Eric Sterling, longtime legal observer of federal sentencing reform initiatives and former assistant counsel to the U.S. House Judiciary Committee, told Marijuana Moment: “I don’t know what the number of cases might be, but considering how many marijuana possession convictions there have been and in the population likely to have been convicted for other federal offenses, this could result in the release of hypothetically some thousands of federal prisoners and the shortening of the sentences of thousands more.”
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NEW MERGER
Canopy Growth ‘taking destiny in their own hands’ as it steps into the U.S. cannabis market
Canopy Growth recently announced it would be acquiring three US assets and consolidating them into a new US holding company – Canopy USA. The three company’s include Acreage Holdings, Wana Brands and Jetty.
Whilst the company previously stated such a development would be dependent on federal legalisation of cannabis, CEO of the Canadian cannabis company David Klein told Cheddar News why right now was the time for the merger, despite it not yet being legalised.
“As the pace of regulatory change in the US drags out a little bit, I’ll say, we wanted to make sure we were taking our destiny into our own hands and in really being able to step into the US market.
“We still are bullish on various forms of federal regulatory reform, the differences now, we’re going to have this merged entity that’s that’s participating in the market. And when those reforms happen, we’ll be a net beneficiary of those reforms.”
BLUEPRINT FOR OTHER LPS
Experts opinions on Canopy Growth’s reorganization plans
One expert has said that Canopy Growth’s reorganization plan is a creative one, and other Cannabis LPs could follow suit, reports Benzinga.
Cantor Fitzgerald’s analyst Pablo Zuanic said the move provides “a compliant vehicle for the company to quickly consolidate the US THC industry at a time of depressed valuations,” and that “there is plenty of creativity in the way CGC has restructured the ownership of its US assets, and we believe this may provide a blueprint for other Canadian LPs.” Another analyst, Owen Bennett, also said that the development could “have positive implications for MSOs and paths to uplisting, potentially adopting similar structures.”
GERMANY ADULT-USE MARKET
Demecan looking for investment in hopes to become Germany’s largest adult-use cannabis cultivator
Demecan has welcomed proposals which will see all cannabis for Germany’s forthcoming adult-use market grown domestically, reports BusinessCann.
Co-founder and Managing Director of Demecan, Dr Constantin von der Groeben, told the publication that the company is currently in talks with potential investors as it looks to expand its cultivation footprint in the country.
“It is important to know there will be no imports into Germany so that money can now be invested in cultivation capacity, rather than relying on an international supply network,” von der Groeben told BusinessCann. “The key element is that if imports had been left open we would not have invested into German cultivation landscape and, what would have happened if, say, next year the EU or international bodies would not allow imports? We would be in a position where, come 2024 and a legalised cannabis market, we would have no products.
“With this clarity German companies can establish new facilities and we will be ready to deliver when the market becomes legal.”
