Copy
CURALEAF 3Q Grows-- 7% Gain               Open in your browser photos
Vol. 8, No. 42 -  Nov. 5,  2022 - Edited by Dr. Lloyd Covens
COMBS TO LEAD LARGEST BLACK-OWNED MJ MSO--
- Global entertainer and businessman Sean "Diddy' Combs will pay between $150 to $186Mil. to buy licensed MJ operations from Cresco Labs and Columbia Care in New York, Massachusetts and Illinois. 
  
“My mission has always been to create opportunities for Black entrepreneurs in industries where we’ve traditionally been denied access, and this acquisition provides the immediate scale and impact needed to create a more equitable future in cannabis,” said Combs, 53.
Cresco founder/chair Charlie Bachtell said "For an industry in need of greater diversity of leadership and perspective, the substantial presence of a minority-owned operator in some of the most influential markets in the country being led by one of the most prolific and impactful entrepreneurs of our time is momentous…and incredibly exciting. We’re thrilled to welcome Sean and his team to the industry.” Cresco and Columbia Care merged earlier this year in a deal worth $2Bil., and must divest the licenses sold to Combs--and other state assets where he two companies overlap, or hold too many licensees ahead of closing the Columbia Care acquisition-- expected to close near the end of the first quarter of 2023. 

Above:  Combs' accepting a Lifetime Achievement Award at the BET Awards in June, 2022 at: https://www.bet.com/video-clips/626fmg/bet-awards-2022-sean-diddy-combs-accepts-the-lifetime-achievement-award
Legal MJ Approved by WA -

CO Voters Ten Year Milestone

November 6, 2012:   Voters in Colorado and Washington pass historic cannabis legalization measures even in the face of opposition claiming the Obama administration would never allow a regulated system to begin. The following year, the Justice department's Cole Memo said that federal enforcement would not attempt to stop legal sales if that states remained vigilant against increased MJ teen use, and diversion across state lines. 
         Some national experts in the ten year rollout were asked by West420 News "what was the biggest victory and biggest defeat"  for the cannabis movement over past 10 years: 

Keith Stroup, Founder, NORML (Washington)
"New York has been the biggest victory because it includes provisions that anywhere tobacco smoking is allowed, marijuana smoking is now legal.  Not sure what I would consider our biggest defeat. We are generally winning all across the country, both with voter initiatives and via state legislatures. I suppose the failure of the Congress to reschedule marijuana under the federal Controlled Substances Act would be our biggest disappointment."

Ryan Hurley, General Counsel, Cooperstate (Phoenix)
" I would say the biggest win was federal legalization in Canada that enabled large capital raises for US companies. Biggest defeat for cannabis failure to pass safe banking /280e reform."


Mason Tvert, Partner, VS Strategies  (was 2012 Colo Amendment 64 campaign manager- SAFER)
Top win:  
The public's knowledge about cannabis and cannabis policy has grown dramatically in the past 10 years, thanks largely to the increased public dialogue fostered by state-level advocacy and policy changes. And it's not just voters who have grown more familiar with the subject, but also public officials. The more voters and officials learn about cannabis, the more likely they are to support sensible cannabis policy and recognize the urgency behind ending prohibition.
Biggest loss:
It's been very disappointing to see potency equated with quality. High-quality cannabis does not necessarily have high levels of THC, and cannabis with high levels of THC is not necessarily high quality. Cannabis product quality should be based on things like good cultivation practices, the absence of molds and contaminants, and dosage accuracy and consistency. Some in the cannabis industry are understandably trying to appeal to their most loyal customers. But by doing so they are misinforming new or less-experienced consumers, which may contribute to accidental over-consumption and other adverse outcomes. 


Lisa Buffo, Founder, Cannabis Marketing Assn (Denver)
         Due to 280e, marketing & advertising expenses are not write offs for cannabis companies, so marketing budgets, if existent, are low. There is enormous pressure on marketing professionals to show ROI for every dollar spent. This can be hard to do when a brand is new or just launching, as many cannabis businesses are. Until there is federal reform to the tax code, cannabis marketers will continue to face tough challenges. Between the financial realities-- and the regulations that limit how and what businesses can say-- the marketing landscape will remain challenging until we see federal reform.

 

Jane West, CEO, Jane West LifeStyle -Co-Founder, Women Grow 
"A positive step was states which took the smart steps to allow for homegrow-- because every American should have the right to grow the cannabis plant for themselves.   Worst action:  The failure to grow significant corporate leadership among women and people-of-color in our major cannabis companies.  In fact, since

2019, the percentages reported have gone down below 23% for women, and below 12% for minorities.


Beau Whitney, Founder - Whitney Economics (Portland)
"The best developments:
* ability to get cannabis to millions of consumers that is tested and serves as an alternative treatment for multiple ailments
* the positive economic impact-- over 460,000 jobs and the reduction of healthcare expenditures by state governments
* The reduction of opioid related deaths and prescriptions once consumers have access to legal cannabis.
   Whitney comments on worst developments:
* The negative impact that U.S. policy is having on minority communities not only in the U.S., but the impact is it having on other countries in their attempts to diversify their economies and provide support for minority members of their citizenry
* The extreme amount of pollution created by the cannabis industry in the U.S. and the intense reluctance to partner with hemp businesses to provide solutions and reduce the environmental impact.
* The lack of efforts to conduct research/collect data on the flow of goods and services throughout the U.S. economy."

KEY MSO EARNINGS REPORTS- 3RD QUARTER RESULTS  (July-Sept. 2022)  ALL TIMES EASTERN --
ACCESS AUDIO REPLAY LINKS AT MSO WEBSITE

 
Nov. 7 - 8:30am-- Cronos Group
Nov. 7 - 6pm -- CURALEAF    1-844-512-2926   passcode 7356944
Nov. 7 - 6pm Grow Generation 888-882-4478 passcode:  7693711
Nov. 8 - 8am MariMed
Nov. 8 10a-- Acreage Holdings   1-844-200-6205     passcode 719120
Nov. 9 - 5:30pam - TruLieve   North American toll free: 1-888-254-3590  --Live audio webcast at:  
https://app.webinar.net/xX6Q5JE71z3
 
Nov. 9 -- 8:30a --  Village Farms   888-664-6392
Nov. 9 - 10am -- Canopy Growth Corp.
Nov. 9 - 11am -- Charlotte's Web 888-664-6392 passcode: 24797121
Nov. 9 - 5pm -- Schwazze  Webcast- 888-664-6383 passcode: 997573#

Nov. 10 - 8a-- AYR Wellness -- 800-319-4610
Nov. 10 - 5pm -- Aurora Cannabis
Nov. 10 - 5pm Ascend Wellness -- 888-350-0605 passcode 10020429
Nov. 10 - 5pm Planet 13 Holdings --888-506-0062  passcode: 838220
 
Nov. 14- 8:30 -- Verano Holdings -- register at: http://conferencingportals.com/event/MOQBINkJ
Nov. 14 - 9am Jushi Holdings Webcast 866-374-5140  passcode: 4208476#
Nov. 14 - 4:30p - Columbia Care  
participants must pre-register at https://register.vevent.com/register/BIc703b752599546a7a28197c8bf33e7ad
Nov. 15 - 8:30am  Cresco Labs  Dial In: 844-200-6205 passcode: 33476

Chart Below Source: Seeking Alpha https://seekingalpha.com/article/4553086-cresco-labs-assessing-risks-opportunities-us-cannabis-giant

CANNABIS News Briefs....
       Election Day for some RMJ states may bring new wins-- but conservative, anti-MJ groups seem likely win out 2 of 5 states.  With good news from the Baltimore Sun Media and University of Baltimore polling released Oct. 31st-- reporting 63 percent of likely voters planning to approve Maryland's question 4, while 25 percent are against it.  But Missouri polling--including some  Democratic opposition-- oppose the RMJ issue, and a slightly negative view is being heard in from the North/South Dakotas, which have conducted little polling. Ten years ago, Nov. 6, 2012, both Washington and Colorado voted for legalization-- and also saw Arkansas voters defeat a ballot issue for medical.  This year, advocates are predicting a close vote in Bill Clinton's native Arkansas.

See this Maryland ad at:  https://twitter.com/i/status/1587837148472000512


Senate leader Chuck Schumer (D-NY) told a late October debate audience that he expects to get a positive vote for a SAFE-Plus compromise bill which he says has the backing of enough Senate Republicans to pass before year-end.  Despite potential changes in the House and Senate on Nov. 8-- the lame duck period will allow current Senate/House Democratic majorities to move a bill before adjournment, around Dec. 15.
Provisions from the HOPE  act (introduced by Rep. David Joyce-R-Ohio-- and Rep. Alexandra Ocasio-Cortez, D-NY)  will fund millions to states gaining administrative and technology support for processing expungements--and notifying prior offenders of the access to expungement.


The third quarter report of  Curaleaf reported a 7% increase in year-over-year sales, and a gross revenue of $340Mil.  -- with a projection for fourth quarter to grow to $353Mil to $355Mil.  Other 3rd quarter performance included: 

  • Added six new retail dispensaries across Arizona, Nevada and Florida and closed one in Colorado bringing total current store count to 142.

  • Completed license transfer in ILLINOIS to Deerfield location and commenced adult use sales

  • Completed the acquisition of Tryke Companies, a privately held vertically integrated, multi-state cannabis operator with retail dispensaries in Nevada and Arizona, and an extensive portfolio of processing licenses with 65,000 square feet of total canopy cultivation with capacity to expand to 80,000 square feet over the next three years.

  • Commenced adult-use sales at Curaleaf Bordentown, New Jersey location, the Company's third and final location to sell adult-use cannabis in the Garden State.  Growth in the companies first New Jersey store (Bellmawr, NJ) near Philadelphia) brought a 30% market share for New Jersey.  Curaleal continued to streamline operations in California, saying very little retail sales took place.  


Brittney Grinier has been transferred to a "hard-labor"  prison camp, and Russia refusing to release her for her 9-year sentence for possession of two cannabis vapes.  Please continue to reach out to your Senators and the White House for continued negot-ations.

Copyright ©   West420 NewsWeekly is targeted to adults 21-plus and is not a solicitation for any cannabis product or derivative.   Find archives and signup at www.Chemp7.com .  We appreciate your comments via email to "Dana@Chemp7.com"  Or  use QR above  for 4-free issues. 
Thanks for building the global hemp/cannabis community!  






This email was sent to <<Email Address>>
why did I get this?    unsubscribe from this list    update subscription preferences
Chemp7.com- West420 · 1660 So. Albion · Denver, CO 80222 · USA

Email Marketing Powered by Mailchimp