cannabisinvesting
The US Drug Enforcement Administration (DEA) has initiated proceedings to reclassify cannabis from a Schedule I substance to a Schedule III substance, marking a significant step towards cannabis reform in the country. After months of deliberation, the Associated Press reported on April 30 that the DEA would move to reclassify cannabis from Schedule I, a category it currently shares with heroin and methamphetamines, to Schedule III, which is reserved for substances with low potential for dependence and accepted medical use. The move from the DEA comes almost a year after the Department of Healt...
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May saw officials in the Drug Enforcement Administration make the first moves toward cannabis rescheduling. As anticipation builds, companies are beginning to better position themselves for changing market dynamics, and one Canadian cannabis company is anticipating major acquisition deals to come out of the US. Meanwhile, a major player in the US market narrowly avoided consequences related to their Nasdaq listing after an expected merger agreement was terminated, and a once luxury cannabis brand out of California became officially delisted after months of financial uncertainty. Keep reading t...
Investing News Network
April was a game changer for the cannabis industry. After deliberating for almost five months, the US Drug Enforcement Administration (DEA) moved to reschedule cannabis as lawmakers worked to combine the SAFER Banking Act with newly introduced stablecoin legislation. Meanwhile, controversy struck as legal cannabis was seized in New Mexico, Canada's 2024 federal budget was released with no mention of cannabis tax reform and the saga of a once high-end cannabis dispensary finally ended in bankruptcy. Keep reading to discover more about these industry-shaping events. DEA finally moves to reschedu...
Investing News Network
The Associated Press reported Tuesday (April 30) that the US Drug Enforcement Administration (DEA) was on the cusp of rescheduling cannabis from a Schedule I substance, the same category as heroin and methamphetamines, to Schedule III. The Department of Health and Human Services suggested cannabis be reclassified on August 29, 2023, and the DEA has been deliberating on the decision for months, urged by lawmakers to heed the recommendation. According to the report, Attorney General Merrick Garland was scheduled to submit the proposal to the White House Office of Management and Budget on Tuesday...
Investing News Network
Major cannabis industry player Tilray Brands (TSX:TLRY,NASDAQ:TLRY) disappointed investors with its latest quarterly results this week, falling short of analysts' expectations in the wake of a number of acquisitions. Meanwhile, Nebraska lawmakers have proposed a lower tax rate for CBD after their initial offer was criticized, and unionized cannabis workers are preparing to strike on 4/20 as they seek improved benefits. Stay up to date on the latest news, trends and policy developments in the cannabis industry with our round-up below. Tilray's latest quarterly results disappointTilray released ...
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