Hi,

A tragic event occurred at a Trulieve warehouse after a worker with asthma had an attack, brought on by inhaling too much ground cannabis in the air (aka Kief), and died. OSHA is investigating and has announced fines. While it wasn't the psychoactive effects of cannabis that were fatal, this is a reminder that asthma and workplace safety should always be taken seriously.

Biden announced that he is pardoning 6,500 people with minor federal cannabis possession convictions and putting evaluating deschedulization as a priority. I'm glad this was done but I can’t help being a little suspicious of the timing. Is this really a bold change or is this an attempt to boost the party before elections? And frankly, this talk about putting cannabis on the same footing as morphine and crack cocaine, as a schedule II drug, doesn't sound ideal. In any case, Biden recommending cannabis reform is a step in the right direction.

Medmen owes a million dollars in rent and is arguing to a New York judge that they shouldn't owe any money since cannabis is federally illegal and their lease should be voided! Ah, the old, “I don’t owe you any money because you were stupid enough to trust someone as shady as me” defense :). The industry fears that if Medmen wins, it will be hard to convince New York landlords to work with cannabis clients out of fear they could just walk away from unpaid bills.

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I hope you have a sensational week!
Jessica

2022-10-03
New Leaf Ventures (CSE: NLV) (OTC: NLVVD) announced its entry into a non-binding letter of intent to acquire High Profile Holdings Corp., a retail-focused private British Columbia cannabis company.

2022-10-04
Biopharmaceutical Research Company ("BRC"), an Drug Enforcement Administration (DEA) pharmaceutical cannabis license holder, announced the completion of a $20M Series A fundraise.
Medical Marijuana (OTC: MJNA) — formerly GRN Holdings — entered an agreement to purchase assets from a hemp and natural wellness company for an undisclosed amount, with Bill Andreoli, the president of seller MFINITY Global, set to become the president of Medical Marijuana subsidiary, Kannaway, LLC.
Decibel Cannabis Company (TSX-V: DB) (OTCQB: DBCCF), a cannabis producer, announced an on-going supply agreement with Breath of Life International to launch Decibel’s Qwest brand and cannabis products in Israel.

2022-10-05
Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) announced the completion of its previously announced acquisition of Tryke Companies (“Tryke”), a privately held vertically integrated, multi-state cannabis operator.

2022-10-06
F1SeedTech and NewBreedSeed (NBS) announced that they have entered into a definitive agreement, with F1SeedTech acquiring 100% of the shares of NBS.
Constelation Blrands (NYSE:STZ) recorded a $1.1 billion writedown in the value of its investment in Canopy Growth, a cannabis producer it has a nearly 40% stake in.

2022-10-07
Aurora Cannabis (NASDAQ: ACB) (TSX: ACB) announced that it has repurchased an aggregate of approximately $31.3 million (US$23.0 million) principal amount of its convertible senior notes at $29.8 million (US$21.8 million) in cash.