Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week

Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana and Psychedelics industry news stories for the week of April 13th – 19th, 2020.

Without further ado, let’s get started.

* Yahoo Finance readers, please click here to view full article.

10. U.S. Lawmakers Lobby House Leaders to Include Cannabis in Next COVID-19 Stimulus Bill

A Group of 34 Lawmakers Are Lobbying to Have Cannabis Businesses Included in the New COVID-19 Relief Bill

The group stated their case to Democratic House Speaker Nancy Pelosi and Republican Minority Leader Kevin McCarthy. Nancy Pelosi, recently called for the inclusion of language in the upcoming Coronavirus Stimulus Bill that would provide cannabis businesses with increased access to banking services.

READ FULL CANNABIS STIMULUS ARTICLE

9. Champignon Brands is Turning Magic Mushrooms Into Medicine

Medical Professionals are Beginning to Use Psychedelics to Treat a Host of Mental Disorders

Champignon Brands SHRMF is growing a vertically integrated Psychedelic drug company. Champignon’s competitors such as MindMed MMEDF, are using different Psychedelics to treat different disorders, leaving Champignon more room to operate.

READ FULL CHAMPIGNON BRANDS ARTICLE

8. Molson Coors, HEXO Form Joint Venture to Make CBD Drinks for Colorado Market

The Two Companies Have Agreed to Create a New Joint Venture

Cannabis company HEXO Corp. HEXO is enhancing its collaboration with Molson Coors TAP. Hexo announced that the joint venture Truss CBD USA will now produce non-alcohol hemp-derived CBD beverages in the Colorado market.

READ FULL HEXO MOLSON ARTICLE

7. How the Impending Recession Could Change the Cannabis Industry

The 2020 Recession Represents the First Time an Established Cannabis Industry Has Had to Face an Economic Downturn

In recent weeks, some financial commentators have viewed the recent spikes in cannabis sales as a predictor of a bright future for the industry. Alan Brochstein’s expectations paint a less rosy picture for cannabis companies.

READ FULL CANNABIS INDUSTRY ARTICLE

6. Former Red Bull Canada President Joins Champignon Brands’ Special Advisory Committee

Champignon Appoints Mr. Jim Bailey to the Company’s Special Advisory Committee

Mr. Bailey is the former president of Red Bull Canada and will now lead Champignon Brands SHRMF marketing, distribution and commercialization of the company’s Novo Formulations-branded novel delivery systems for the pharmaceutical, nutraceutical and Psychedelic medicine industries.

READ FULL CHAMPIGNON BRANDS ARTICLE

5. Allowing Marijuana Businesses to Open Bank Accounts Could Be Part of Coronavirus Stimulus

Legislation Allowing Banks to Serve Legal Cannabis Businesses Has Been Stalled in the Senate

Members of Congress are looking to add its provisions to the next coronavirus stimulus bill. The argument is that many patients who use legal marijuana are among the most vulnerable to contracting COVID-19, and forcing them to deal in cash also puts employees at risk.

READ FULL CANNABIS BANKING ARTICLE

4. Canopy Growth Exits Cannabis Cultivation on Three Continents in Major International Pullback

The Smiths Falls, Ontario, Company Also Said it is Eliminating 85 Full-Time Positions

Canopy Growth CGC is ceasing more cannabis cultivation in Africa, Canada, Colombia and the United States in a bid to “improve efficiencies” in its global operations, the once high-flying marijuana giant said Thursday.

READ FULL CANOPY GROWTH ARTICLE

3. Why Cannabis Has Been Deemed An Essential Business Amid COVID-19 Pandemic

Cannabis is Considered as Essential as Food, Water, and All Other Medicine, Here’s Why

During this time of pandemic response, state and city governments around the country have deemed medicinal marijuana companies “essential businesses.” This means that they can remain open for business. Many have changed the way they operate — online and phone ordering, delivery, curbside — but nonetheless, they are open.

READ FULL CANNABIS ESSENTIAL ARTICLE

2. Ontario Online Marijuana Purchases Jump 600% amid COVID-19 Pandemic, Data Shows

Sales Data Over the Past Six Weeks Show Legal Pot Appears to Be a More “Habitual” Purchase Than a One-Time Novelty

Ontario cannabis purchases rose as much as 600% since the beginning of March in Canada’s biggest market thanks to stockpiling by consumers during the COVID-19 pandemic – and demand may be sticking around.

READ FULL ONTARIO CANNABIS ARTICLE

1. Trulieve Hiring Hundreds of New Workers in Multiple States

An Increase in Delivery Orders and Calls From Customers Are Driving the Need for New Hires

Some large multi-state operators (MSOs) are hiring, including Trulieve TCNNF and Curaleaf CURLF. Trulieve is currently hiring for between 200 to 300 positions and has hired about 300 people since mid-March, Steven Ferrell, Trulieve’s director of human resources, said in an email.

READ FULL TRULIEVE ARTICLE

Image sourced from Pixabay