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

Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelics Industry News Stories for the Week of May 4th – 10th, 2020.

Without further ado, let’s get started.

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10. Champignon Brands Assembles Task Force to Accelerate Expansion of New Psychedelic Clinics

The Newly Formed Expansion Committee Plans to Accelerate Champignon’s Entry into the Vast U.S. Market

Building off the recent AltMed deal, which saw Champignon Brands SHRMF acquire the Health Canada licensed CRTCE clinic, Champignon intends to open/acquire at least 5 new clinics in 2020. The Psychedelics leader disclosed that it continues to hold discussions with revenue-generating clinics in New York, California, Florida, Pennsylvania, Texas and Missouri.

READ FULL CHAMPIGNON BRANDS ARTICLE

9. 5 Ways Quarantine Has Changed the Cannabis Industry Forever

Stuck in Quarantine for Weeks on End, Consumers Have Made Their Covid-19 Buying Preferences Clear

For certain consumers, cannabis–once likely considered a discretionary purchase—has fast been added to the list of necessities, fueling an unprecedented green rush with record-breaking sales since lockdown went into force in March.

READ FULL CANNABIS INDUSTRY ARTICLE

8. Best Practices for Protecting Marijuana Retailers from Robberies

Thieves Are One of the Biggest Threats to Cannabis Retailers

Recently, for example, robbers have invaded retail cannabis stores and medical marijuana dispensaries in Bozeman, Montana, Chicago, Sacramento, California, and Seattle. Theft at retail cannabis stores is especially bad in Denver, which experienced a three-year high after six related armed robberies in 2019. All of which begs the question: What’s the best way for marijuana retailers to protect their goods and property?

READ FULL BEST PRACTICES ARTICLE

7. New Legislation Aims to Decriminalize Magic Mushrooms in New York State

A New York Lawmaker Recently Introduced a Bill That Could Decriminalize Psychedelic Mushrooms in The Empire State

The new reform initiative will seek to have Psilocybin, the Psychedelic component of Magic Mushrooms, removed from New York’s controlled substances list.

READ FULL NEW YORK PSILOCYBIN ARTICLE

6. Nevada OKs Resumption of In-Store Sales for Some Marijuana Retailers

Effective May 9, Retailers Can Resume Selling Cannabis in Stores After Submitting a Plan and Receiving Approval from the State

Approved recreational cannabis retailers in Nevada will be allowed to conduct in-store sales starting Saturday as part of the governor’s broader plan to open up the state amid the COVID-19 pandemic.

READ FULL NEVADA ARTICLE

5. Campaign to Decriminalize Psychedelics in DC Cleared For Signature Gathering

For Decriminalize Nature DC, Things Appear to be Falling in Place Despite the Challenging Circumstances

The Washington, D.C. Board of Elections approved a petition to decriminalize Psychedelics on Wednesday, officially clearing the campaign for signature gathering.

READ FULL DC PSYCHEDELICS ARTICLE

4. Illinois Legal Weed Sales During the First Full Month of Coronavirus Lockdown Amount to Over $37M

Dispensaries Have Been Allowed to Stay Open During the Stay-at-Home Order, But Operators Have Had to Adapt

Legal weed sales during Illinois’ first full month of coronavirus lockdown amounted to almost $37.3 million, surpassing every month of recreational marijuana sales in Illinois so far except January.

READ FULL ILLINOIS ARTICLE

3. Chairman and CEO of Profitable Cannabis Firm Joins Champignon Brands’ Board of Directors

Champignon Continues to Bolster its Impressive Team with the Company Appointing Pat McCutcheon to its Board

As the Founder, CEO and Chairman of MediPharm Labs MEDIF, McCutcheon was instrumental in creating one of the cannabis sector’s only profitable Pot Stocks. McCutcheon’s capital raising expertise, leadership skills and business acumen will be valuable assets for Champignon Brands SHRMF as it begins to accelerate its North American expansion of new Psychedelic clinics.

READ FULL CHAMPIGNON ARTICLE

2. A $5 Billion Market Valuation for Psychedelics May be Too Low

Psychedelics Have Gone Mainstream, All Thanks to a Wide Range of Research That Points to Success in Treating a Range of Mental and Other Health-Related Issues

In short, Psychedelics may change the way we look at medicine – and significantly help improve the health and mental state of millions of people around the world. If that’s the case, a market value estimate of $5 billion may be at the very low end. As the growth story unfolds, some of the companies to keep an eye on include: Champignon Brands SHRMF, MindMed MMEDF, GW Pharma GWPH, Revive Therapeutics RVVTF and The Yield Growth BOSQF.

READ FULL PSYCHEDELICS INDUSTRY ARTICLE

1. Marijuana Groups Ask Congress to Include Banking Access in Next Coronavirus Bill

State-Legal Marijuana Businesses Are Often Forced to Deal on a Mostly Cash Basis

A coalition of marijuana advocacy groups sent a letter to House leadership on Friday, asking that they incorporate language allowing the cannabis industry to access banking services in upcoming coronavirus relief legislation. The banking restriction means that many cannabis businesses accept only cash for purchases, rather than contactless options such as credit cards or remote payment, which hampers recommended social distancing practices.

READ FULL CANNABIS BANKING ARTICLE

Photo by Esteban Lopez on Unsplash