Hi,

Cannabis stocks have nosedived recently. We echo the sentiment that despite some short-term turbulence, the industry is still primed for hefty growth in the future.

Yet, investors must stay on their toes. Case in point: a debarred lawyer and seasoned scam artist, Mark Roy Anderson, who's accused of pulling off a $9M hemp scam peddling fake dreams. This 68-year-old disbarred lawyer and UC Berkeley Law graduate's past scams span the oil, construction, software, and casino industries. I've dug up an article about Roy from 16 years ago for you. As a silver lining, why not make a movie about him? The proceeds could be used to repay his victims and it would be super entertaining! If anyone does this, I just ask that you put us in the credits. :)

A placebo-controlled study revealed that CBD can help lower hypertension in patients. Following further studies and some nudging from the FDA, I can see Big Pharma stepping in, using CBD to tap into the $21B hypertension market projected to surge to $30B by 2030. I wonder if those smarty-pants analysts are predicting an uptick in stress levels. Hand over the CBD so I can relax. :)

Feel free to subscribe to our Cannabis or CBD News Roundups.

Have a wonderful week!
Jessica

05/22/23
Canopy Growth Corp. (TSX: WEED) (Nasdaq: CGC) files revised proxy statement with SEC. It outlines a strategy to enter the U.S. cannabis industry via Canopy USA LLC.
Curaleaf (CSE: CURA) (OTCQX: CURLF) settles class action lawsuit over THC-containing CBD drops sold in Oregon.
Massachusetts Cannabis Control Commission votes to eliminate the pilot program limiting cannabis cafes and lounges to 12 communities, streamlining the process.
Organigram Holdings Inc. (Nasdaq: OGI) (TSX: OGI) announces subsidiary The Edibles and Infusions Corp. achieves earnout milestones from April 2021 acquisition.

05/23/23
High Tide Inc. (HITI) to release Q2 2022 results on June 14. Webcast on June 15. Acquisition of FABCBD completed, pending TSX Venture Exchange approval. Consideration: 386,035 HITI Shares valued at $560,380 (CAD$747,827).
WeedGenics Hirschmann and Williams allegedly misused investor funds $16.2M for Ponzi-like payments and personal enrichment, says Securities and Exchange Commission.
Acreage Holdings, Inc. (OTCQX: ACRHF, ACRDF) reports Q1 financial results. Revenue fell 1.6% YoY to $55M. Sales dropped 2.7% sequentially from Q4. Net loss in Q1 was $16M.
Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) reports second positive adjusted EBITDA this year.
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) reports 71% YoY revenue growth in Q1 2023. The increase is due to strong growth in the premium cannabis segment and product expansion.
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) sells Mississauga facility for $14.5M, proceeds to reduce company debt.
Zelira Therapeutics Ltd (ASX:ZLD, OTCQB:ZLDAF) secures $3.25M for FDA trials of HOPE 1 product.

05/24/23
Michigan's Cannabis Regulatory Agency proposes denying licenses to businesses with unpaid vendors, a move that could disrupt the financially strained industry.
Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF) completes sale leaseback of drying and processing facility in Monterey County for $19.4M.

05/25/23
PharmAla Biotech and Vitura Health launch Cortexa, a 50-50 joint venture in Australia's psychedelics industry. MDMA and psilocybin products for clinical use. Onshore manufacturing and financing details revealed. Growth potential for publicly traded companies.
Vext Science Inc. (CSE: VEXT) (OTCQX: VEXTF) reports Q1 sales of $9.1M, a decrease from the previous year, with a net income of $73,059.
Tilray Brands Inc. (Nasdaq: TLRY) (TSX: TLRY) launches $150M convertible senior notes offering, with potential for additional $22.5M over-allotment.
Highlyte by Amnesia raises $1M for AI-driven cannabis marketing compliance. It aids brands in regulatory navigation, penalty avoidance, and social media compliance. Investors: Poseidon Investment Management, Argonautic Ventures.