Joe Biden Says Marijuana Should Remain Illegal and DEA Ask for More Cannabis

These are the top stories this week:
In U.S. news, presidential hopeful Joe Biden says that marijuana should remain illegal and related offenses should be classified as misdemeanors during the last democratic debate, conflicting with his previous support for decriminalization. Both positions single him out as the only democrat candidate on the debate stage opposing outright cannabis legalization, and could potentially lose him followers. What do you think? Let us know online at Cannabis Broadcast Station.

Also on the domestic front, the DEA proposes an increase of almost a third in marijuana to be grown for research purposes over this year’s amounts, to 32 hundred kilograms in 2020. This comes after the agency’s recent announcement to license more research cannabis growers other than the University of Mississippi. However, they’ve stated they won’t do so until the new regulations are in place, leaving prospective growers in limbo.

After the statewide and possible nationwide ban on flavored e-cigarettes, Michigan dispensary Greenhouse partnered with California-based Platinum Vape to give out 50,000 dollars worth of THC and CBD vape cartridges for customers who wanted to exchange their e-cigs.

In Ohio, the state’s medical board rejects adding anxiety and autism to the list of 21 qualifying conditions for medical marijuana, after excluding depression, insomnia, and opioid addiction earlier this year. The board faced backlash from industry insiders, but insists they would reconsider if new studies or petitions are submitted.

In finance, Medicine Man Technologies continues its buying spree with the announcement of a 5.1 million dollar cash and stock deal for Denver-based infused edibles manufacturer Canyon. The transaction marks the company’s eleventh acquisition this year, after a recent 31 million dollar deal for another Colorado cannabis operator, Strawberry Fields, and is part of the larger strategy of building out their retail footprint.

In Ontario, the latest on CannTrust. Health Canada suspends the company’s federal license and seizes all cannabis products at their two cultivation sites. CannTrust will be allowed to bring previously propagated batches of cannabis to harvest, although they may not engage in any processing, sales, or research. The embattled business may regain their licenses if certain public health and safety issues are remedied.

Overseas, a subsidiary of multinational company Teva Pharmaceuticals enters into a distribution deal with Israeli medical cannabis producer Canndoc, giving them access to Teva’s vast network of hospitals and pharmacies. SLE, whose chair is former Israeli Prime Minister Ehud Barak, intend to start distribution in Israel and eventually expand to other international markets.

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Directed by: Micah Tatum @arbitrageent
News Anchor: Jacqui Verdura

William Bradley

William Bradley

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