Will cannabis bring voters to the polls? There are renewed calls for the FDA to regulate CBD. Tilray wants to buy HEXO and Chill Brands shareholder wants more cash money.
In today's episode of "Cannabis Daily", here's what we're covering:
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For today's stories
Hey there - Neal Veglio, here - host of the Cannabis Daily Show.
Since 2017 - Business of Cannabis has highlighted the companies, brands, people and trends driving the cannabis industry.
In a moment I’ll tell you how you can keep up to date with us on our website and on social - and we always want to hear what you have to say about our stories.
And on those - let’s get into them
Look - I’m going to address him as locals will so please don’t get het up if you’re listening in the UK
Pennsylvania Lt. Gov. John Fetterman is running for a Senate seat.
"And? So what, Neal?", I hear you murmur.
Well, he’s leaning into cannabis legalisation as a way to lure voters to the polls, according to Politico.
Ooh I’m totally going to something here because I’ll get to use my bleep sound.
“It’s high time that we get our sh*t together and legalise weed in PA + USA,”
reads his top-selling campaign T-shirt.
He might need to hire a better copywriter.
“More justice, jobs, revenue, and freedom.” it continues!
Ummm ok no this next bit wasn’t written on the t shirt.
Just as well - it probably wouldn’t fit.
“If [candidates] support marijuana, they’re more about the people!”
Those were the words of one 25-year-old voter.
They went on with more praise saying “I feel like even though they’re older, that they’re still listening to the younger people who are eventually going to be making America, America.”
Experts at the US Hemp Roundtable claim they can prove the relative safety of CBD. The organisation’s renewed its calls on the Food and Drug Administration to regulate cannabidiol, according to a press release.
Which I’ve helpfully linked to in the show notes. Just scroll down on whatever app you’re listening to this on and you should find it.
Unless that app is your smart speaker - in which case you might want to go to the page online
cannabis hyphen daily hyphen news dot simplecast dot com/
Yeah don’t worry we’re planning on making that easier for you to find.
Gimme a chance this is my third day on the gig!
Anyway here’s the skinny from the study of more than one thousand participants and 17 CBD companies
It showed no evidence of:
Dr Robert Kaufman the director of research for Validcare was pretty stoked
“The data in this study looks really good; it’s highly significant, and the chances of it being wrong are very, very small,” he said.
And he’d probably know as the former professor of medicine at Southern Illinois University School of Medicine.
He says he’s hoping the data will allow the FDA to regulate what he called these popular CBD products.
BMO Capital Markets have put out a document outlining possible ways Quebec-based Hexo could change its strategy,
Tilray’s apparently been interested in grabbing the company at a price of “$2.00 to $3.00 per share” since last November, according to publication TheDeepDive.ca.
That offer’s been rejected but the corporation agreed back in December of last year to enter into a confidentiality and standstill agreement
At the time, Hexo was trading between $1.30 and $2.35. It’s currently trading at 41 cents.
According to the report, Tilray still wants 50% of the company after buying the rest of its debt.
BusinessCann’s reporting that shareholders of international CBD company Chill Brands have voted to raise £4 million.
And its CEO claims that’ll be enough to keep the company going “this financial year..
It will be an uphill battle for the 26-year-old head of the struggling company. Share prices are at an all-time low, and dropped 30% following the announcement.
They’re also looking at cost cutting and improvements to the sales channels (especially digital)
They’re apparently focused on putting Chill in a healthier financial position while creating a strong investment case.
Those are the stories we’re watching today. Join 12,000 others and catch all these stories and more in your inbox everyday at 7 am with our Cannabis Daily newsletter.
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That was episode 84 of Cannabis Daily. Thanks for listening and I look forward to sharing more with you tomorrow!