Why Aurora Cannabis Stock Spiked Today – The Motley Fool

What happened

Aurora Cannabis(ACB 6.69%) stock had ratcheted upward by more than 8.1% on Friday at 10:11 a.m. ET after a Cantor Fitzgerald analyst, Pablo Zuanic, adjusted his outlook on the company from neutral to overweight, citing its favorable positioning within the rapidly growing European cannabis market.

The upgrade is a welcome reprieve for shareholders, as analysts have overwhelmingly rated Aurora as a hold rather than a buy this year, with a few recommending to sell.

So what

The analyst’s new outlook is surprising, considering that over the last year, Aurora’s quarterly revenue has fallen by more than 10.8%, its total quarterly expenses have risen by above 13.1%, and its quarterly revenue as a proportion of expenses has risen sharply.

Still, as Zuanic specified, its strong and expanding medicinal marijuana market shares in Germany, Poland, and France could potentially solve the problem of flagging revenues over the next couple of years, especially if those countries opt to legalize cannabis for recreational use. 

Now what

Even if the business can continue to gain traction in the EU, its unprofitability is likely to keep investors somewhat leery of piling into the stock regardless of what individual analysts say. Though its recent bought deal offering, which raised gross proceeds of $172.5 million, means that it isn’t in any danger of going bankrupt, it still hasn’t proven that it can consistently deliver on either top-line revenue growth or margin improvements over the last three years.

So be on the lookout for the next quarterly earnings report, which might shed some more light on how this company plans to become viable for the long term.

General Counsel’s Corner: Cannabis and the Campus | Bond Schoeneck & King PLLC – JDSupra – JD Supra

Cannabis—also known as marijuana—has been legalized in the last two decades in more than half of the states. Thirty-nine states allow the use of medical marijuana, while 18 states and the District of Columbia permit both medical and recreational marijuana.1 Despite what would appear to be increasingly lawful access to cannabis, it is still classified by U.S. law as a Schedule I Controlled Substance,2 which means that its possession, sale or use is prohibited by federal law, even in those states whose laws have decriminalized the use of cannabis. Furthermore, colleges and universities are subject to stricter federal restrictions than other organizations, in that cannabis cannot be grown, possessed or used on campuses if the institution receives federal funds.3

Federal Laws Restricting Controlled Substances on Campus

The Drug-Free Schools and Communities Act Amendments of 1989 (the Act) is the main body of law governing the use of controlled substances on college campuses.4 In response to President George H.W. Bush’s national drug control strategy, Congress passed legislation to require schools, colleges and universities to implement and enforce drug and alcohol prevention programs and policies as a condition of eligibility to receive federal funds and assistance. The specifics of the Act are articulated through the Education Department General Administrative Regulations (EDGAR) at Part 86, i.e., the Drug-Free Schools and Campuses Regulations (the Regulations), which are highlighted below.

Regulation Requirements

EDGAR at Part 86 requires that Institutions of Higher Education (IHEs) receiving federal funds or financial assistance must develop and implement a program to prevent the unlawful possession, use, or distribution of illicit drugs and alcohol by students and employees.5 Some of the requirements of this program involve the annual reporting of: standards of conduct; a description of sanctions for violating federal, state and local law and campus policy; a description of the health risks associated with Alcohol and Other Drug (AOD) use; a description of treatment options; and a biennial review of the program’s effectiveness and the consistency of the enforcement of sanctions.6

Appendix A to the announcement of the Regulations describes the controlled substances covered by this Act. Included on the list of substances are methamphetamine, heroin, cocaine, cocaine base, PCP, LSD, fentanyl, fentanyl analogue and marijuana. The major category of marijuana is broken down further to include hashish and hashish oil in varying quantities.7

IHEs are required to certify that they have an AOD prevention program in order to remain eligible for certain forms of federal funding and assistance. This certification is included commonly in the “Representations and Certifications” section of an application or proposal.8

There also exist certain requirements to demonstrate compliance with the Regulations. On request, IHEs must provide a copy of their biennial report to the U.S. Department of Education or its representative. The Secretary of Education, or their designee, may review the report and supporting documentation as necessary and, where an IHE is noncompliant, may take action ranging from providing technical assistance to help the campus come into compliance to terminating all forms of federal financial assistance. IHEs may also be subject to related requirements under state and federal law and judicial rulings.9

Certification Requirements

The EDGAR regulations require that, as a condition of receiving funds or any other form of financial assistance under any federal program, an IHE must certify that it has adopted and implemented a program “to prevent the unlawful possession, use, or distribution of illicit drugs and alcohol by students and employees” both on the institution’s premises and as part of any of its activities. When applying for federal assistance, IHEs certify to the existence of such programs, typically as part of a standard grant or contract application under the provisions referred to as Representations and Certifications.

Additionally, the Regulations indicate that IHEs must retain all records related to the Act for three years.

Annual Notification

To remain in compliance with the Act and its Regulations, IHEs must provide an annual notification to students and employees of certain information related to the Act. This notification must include: (1) standards of conduct; (2) possible legal sanctions and penalties; (3) statements of the health risk associated with AOD abuse; (4) the IHE’s AOD programs available to students, staff and faculty; and (5) disciplinary sanctions for violations of the standards of conduct. The notification must be in writing and in a manner that ensures all students and employees receive it.10

Biennial Review

The Biennial review must comply with content standards articulated by the Regulations. To comply with the regulations, every two years an IHE must conduct a review of its AOD program to determine effectiveness and consistency of sanction enforcement, in order to identify and implement any necessary changes. The regulations do not specify how IHEs must conduct their reviews or how they should structure their reports. IHEs are therefore left with discretion to conduct their reviews in ways that best meet the needs and circumstances of their campus.11

Successful reviews have included program inventories, policy inventories and enforcement analyses. Their reports have included supporting documentation for each of these categories, such as descriptions or copies of the programs and policies, procedures for annual notifications and descriptions of and supporting documentation for the means of assessing program effectiveness and enforcement consistency.12

Cannabis and Curriculum

A quick web search revealed more than a dozen U.S. colleges and universities that offer various academic degrees and/or certificates related to cannabis. Some, such as Colorado State University-Pueblo, offer undergraduate degrees in the science of cannabis.13 These programs require students to take courses in the biology and chemistry of cannabis (and other medicinal plants as well), and appear to be focused on preparing students for careers in cannabis research, such as research on appropriate soil chemistry for the growth of cannabis, the effects of pesticides and related plant chemistry. Because of the federal prohibitions described above, these institutions, which receive federal funds, are not able to use cannabis or other plants with a tetrahydrocannabinol (THC) level above 0.3% in their academic programs unless they have a special federal license to conduct research on cannabis and the program complies with the research regulations. Hemp, which also contains THC but at lower levels, was previously included on the list of controlled substances. In December, 2018, the Agriculture Improvement Act of 2018, also known as the “Farm Bill,” was passed by Congress.14 The Farm Bill removed low-THC hemp, which contains 0.3% or less THC, from the list of controlled substances. This change enabled colleges and universities to use hemp, rather than higher-THC marijuana, for research and educational purposes, without the restrictions surrounding the use of marijuana. Colleges offering these programs would also be required to comply with any state laws regulating the use of hemp.

Other institutions, such as Lake Superior State University in Michigan, offer undergraduate and associate degrees and certificates in the business of cannabis15 as well as cannabis chemistry. The schools explain that these programs prepare students to work in laboratories, in product development and the medicinal uses of cannabis, as well as on the management side of the cannabis industry. Still other institutions, such as Western Illinois University,16 offer minors in cannabis-related subjects, such as cannabis business or cannabis production. And finally, universities such as the University of Maryland offer master’s degrees in Medical Cannabis Science & Therapeutics,17 offered through the University’s School of Pharmacy.

Even more institutions offer certificates related to either the business or the science of the cannabis industry. Those that do not receive federal funds are not subject to the higher education-focused federal laws that prohibit colleges and universities from allowing Schedule I Controlled Substances on campus but are subject to other federal laws and state regulation. One example of such an institution is Oaksterdam University,18 located in Oakland California, which offers eight-week certificate courses for cannabis horticulture or business, as well as “Home Grow” instruction.

For those institutions that receive federal funds, curriculum planning will need to be done carefully for several reasons. First, risk assessment is critical in order to ensure that the program does not stray across the legal boundaries that are still very much present. Second, truth-in-advertising is important, particularly with respect to the current inability of federal fund recipients to promise students that they will be working with real marijuana, rather than lower-THC hemp or with marijuana that is of lesser strength than medical-quality marijuana or marijuana that recreational users could access. This is of particular importance in programs where students will be studying the therapeutic uses of THC, whether found in hemp (at low levels) or in the higher THC-level marijuana. And thirdly, current federal prohibitions on marijuana sale and possession have persuaded many banks to refuse to do business with the marijuana industry over concerns about potential liability for money-laundering.19 This and other legal complexities must be addressed in those programs that aim to prepare students to work in the business of cannabis production and sales.

Job Postings and Internships

Given the federal law restrictions discussed above, colleges and universities that receive federal funds will need to consider carefully their policies with respect to accepting internship or job postings from cannabis-related employers. Even in states where the production and sale of cannabis is legal, federal law forbids it, and prohibits recipients of federal funds from being involved in activities related to “illicit drugs.” This situation would seem to apply to institutions’ acceptance of job postings targeted at students, as well as internships, whether or not for pay, and particularly if the internship carries college credit. In our judgment, the safest approach is to refuse to accept job or internship postings from cannabis-related employers that are involved in the production or sale of cannabis-related products. See, for example, the Career Services Policy at Colorado State University.20

Implications for Counsel

Unless the federal government reduces or removes its restrictions on cannabis—either by removing it from the list of Schedule I Controlled Substances or amending the federal laws prohibiting its presence on campus, counsel will need to be vigilant with respect to pressures—from marijuana producers and suppliers, faculty who wish to conduct scientific research on the uses and health effects of marijuana21 and students who are eager to participate in the increasingly lucrative cannabis industry. One source estimates that global cannabis sales will reach $33.6 billion by 2025,22 which is a powerful incentive for entry into this growing industry. It appears that the Food and Drug Administration may be approving additional producers of marijuana suitable for scientific and medical research,23 but there seems to be little interest presently at the federal level for removing cannabis from its current restrictions. Counsel will need to monitor political developments in their states and at the federal level, as well as keeping a sharp eye on internal initiatives to link the institution to this rapidly expanding and highly regulated industry.

Given the clash between federal prohibitions and the permissiveness of many state laws, counsel will need to work with those individuals involved in cannabis-related curriculum development to ensure that the institution’s federal funding is not at risk, that the developers of courses and programs are knowledgeable and thoughtful about program design, and that students understand the limitations currently facing program content.


General Counsel’s Corner is a publication presented by one of Bond’s former general counsels and academic administrators of higher education institutions: Monica Barrett (Rutgers); Sandra Casey (SUNY and Siena College); Shelley Sanders Kehl (Pratt Institute); Barbara Lee (SVP for Academic Affairs at Rutgers); Sarah Luke (Governors State University); Gail Norris (University of Rochester); and Jane Sovern (CUNY). In each issue, a different attorney from this team will share with you recent legal developments, tips, strategies and useful information to assist you with your daily work on campus.

This post is brought to you by Barbara A. Lee, Ph.D. in our New York City office and Catherine A. Graziose in our Albany office. Barbara previously served as Senior Vice President for Academic Affairs at Rutgers University where she continues on as a Distinguished Professor of Human Resource Management. She is a former director for the National Association of College and University Attorneys (NACUA), and a prolific author, speaker and editor. Barbara is also the former chair of the New Jersey Bar Association’s Higher Education Committee. Catherine is a higher education attorney in Bond’s Albany office and assisted in co-authoring this article.


1  https://mjbizdaily.com/map-of-us-marijuana-legalization-by-state/
2  21 U.S.C. §812.
3  Additionally, all persons entering in or on Federal property, recipients of federal funds administered by the U.S. Department of Education, and Federal Contractors at their workplace are prohibited from use or possession Schedule 1 controlled substances. See 41 CFR § 102-74.400; 48 CFR § 52.223-6; 34 CFR § 86.2.
4  Public Law 101-226
5  https://safesupportivelearning.ed.gov/sites/default/files/hec/product/dfscr.pdf 
6  https://safesupportivelearning.ed.gov/sites/default/files/hec/product/dfscr.pdf
7  https://archives.federalregister.gov/issue_slice/1990/8/16/33574-33601.pdf#page=8 
8  https://safesupportivelearning.ed.gov/sites/default/files/hec/product/dfscr.pdf
9  https://safesupportivelearning.ed.gov/sites/default/files/hec/product/dfscr.pdf
10  https://safesupportivelearning.ed.gov/sites/default/files/hec/product/dfscr.pdf
11  https://safesupportivelearning.ed.gov/sites/default/files/hec/product/dfscr.pdf
12  https://safesupportivelearning.ed.gov/sites/default/files/hec/product/dfscr.pdf
13  https://www.csupueblo.edu/cannabis-biology-and-chemistry-bs/index.html
14  Public Law 115-334 §§ 10113, 12619
15  https://www.lssu.edu/college-innovation-solutions/lukenda-school-of-business/cannabis-business/
16  http://www.wiu.edu/cbt/agriculture/cannabis_production.php
17  https://www.pharmacy.umaryland.edu/academics/ms-medical-cannabis-science-and-therapeutics/
18  https://oaksterdamuniversity.com/product/horticulture-semester-fast-track/
19  https://www.reuters.com/world/us/us-pot-sellers-stash-cash-banks-leave-them-high-dry-2021-05-24/#:~:text=Marijuana%20can%20be%20sold%20legally,afoul%20of%20money%20laundering%20laws. See also https://www.aba.com/advocacy/our-issues/cannabis
20  https://career.colostate.edu/csu-recruiting-eligibility-requirements/
21  Legal restrictions on campus-based research involving cannabis will be addressed in a future General Counsel’s Corner article.
22  https://www.investopedia.com/biggest-challenges-for-the-cannabis-industry-in-2019-4583874#:~:text=The%20legalization%20and%20sale%20of,to%20%2433.6%20billion%20by%202025.
23  https://www.deadiversion.usdoj.gov/drugreg/marijuana.htm

North Carolina House Republicans Kill Medical Cannabis Legislation – Cannabis Business Times

Will federal law ever catch up to state policy reform that has allowed the cannabis industry to flourish in state-legal medical and adult-use programs across the country?

Law firm Cozen O’Connor hosted a June 16 webinar, “The Clash Between State & Federal Law in the Cannabis Industry – Where We are, Where We are Going, and What Lies Ahead” to offer some answers to this question.

Jeremy Garvey, co-chair of Cozen O’Connor’s Capital Markets & Securities team, moderated a panel with Joseph Bedwick, chair of the firm’s Cannabis Industry team, and Patrick Martin, managing director of the firm’s public strategies team, who both stressed that the disconnect between federal prohibition and state-legal programs has led to incongruities and difficulties that are not seen in any other industry.

While they said that federal lawmakers tend to follow public opinion at a slow pace, Bedwick and Martin noted that policymakers also typically shy away from overly complicated issues.

What does that mean for the future of federal cannabis policy reform?

Here, Bedwick and Martin share four key takeaways on the topic.

1. The Supreme Court could ultimately decide the fate of federal cannabis policy—or push Congress to do so.

Supreme Court Justice Clarence Thomas has called the current federal policy on cannabis “a half-in, half-out regime that simultaneously tolerates and forbids the local use of marijuana,” but Bedwick told Cannabis Business Times that, at the same time, the U.S. Supreme Court seems hesitant to take up cannabis-related cases or issue a significant ruling that could, for example, reschedule or deschedule cannabis at the federal level.

Earlier this year, the Minnesota Supreme Court ruled that, due to cannabis’s federally illegal status, a worker’s compensation insurer does not have to cover the cost of medical cannabis. The U.S. Supreme Court has been petitioned to take up the case because states have been divided on how to handle worker’s compensation disputes involving cannabis; Bedwick noted that courts in Minnesota and Maine have ruled against reimbursement, while those in New Jersey and New Hampshire have ruled in favor.

The Department of Justice (DOJ) then filed an amicus brief with the U.S. Supreme Court, urging them not to take the case out of Minnesota, but Bedwick said this is just one example of how the Supreme Court could take a cannabis-related case and rule in a way that would disrupt the current status quo.

“I suspect it would be very difficult to envision that they would rule in a way that would sound the alarm that cannabis is now legalized in the United States or descheduled,” he said. “What they may do, if they take a case like this, … is it would be the piecemeal chipping away at it to give Congress a kick in the pants and say, ‘Hey, Congress, you need to act.’”

The justices have indicated in the past that they do not believe the Supreme Court is the proper institution to address federal cannabis policy, Bedwick added, which they largely believe to be a legislative task.

“Institutionally, the Supreme Court is not equipped to pass law,” he said. “What they may do, … in setting concurring opinions, [is] they may make it clearer and clearer that, hey, Congress, this is where we’re going, but you need to get your act together so that we don’t have to do something. … It’s very hard to imagine the Supreme Court actually issuing a landmark ruling, but they could. Would it be out of the realm of possibility that they agree to take a case like this Minnesota case or a case similar to it? No, it’s not out of the realm. And then maybe over the course of a number of decisions, you’ll see some precedential impact on or precedential rulings on how the court is viewing cannabis in the federal landscape.”

2. Compromise legislation may be more feasible than sweeping bills like the CAOA or MORE Act.

While comprehensive legislation to federally legalize cannabis has gained momentum in recent years—the Marijuana Opportunity Reinvestment and Expungement (MORE) Act has passed the House twice and U.S. Sens. Chuck Schumer, D-N.Y., Ron Wyden, D-Ore., and Cory Booker, D-N.J, are expected to formally introduce the Cannabis Administration and Opportunity Act (CAOA) sometime this summer—Martin said that Schumer is beginning to have conversations with Republican lawmakers on Capitol Hill about compromise legislation that could gain the support needed to clear Congress this year.

Martin said a compromise bill would likely have four components: the SAFE Banking Act; Rep. Dave Joyce’s, R-OH, Harnessing Opportunities By Pursuing Expungement (HOPE) Act, which incentivizes state and local governments to expunge cannabis-related records; a proposal to provide veterans access to medical cannabis; and provisions to expand federal cannabis research.

“If Leader Schumer and the Democratic leadership want to go beyond SAFE Banking and want to see if they can get a few pieces of cannabis legislation passed together, I think those four proposals represent noncontroversial bipartisan proposals that could potentially get 60 votes in the Senate and pass,” Martin said. “I think that’s what the leadership is trying to assess right now, is: Is there a deal that goes a little bit beyond SAFE Banking but also doesn’t risk alienating Republicans who have been supportive of modest reforms?”

3. Congress may have to jumpstart FDA regulation.

Just as the Supreme Court may be looking to Congress to initiate federal cannabis policy reform, the U.S. Food and Drug Administration (FDA) may also need lawmakers to jumpstart the agency’s regulation of the industry.

“The FDA has been looking into regulations and CBD for years,” Bedwick said. “Just last month, the head of the FDA appeared before Congress and basically acknowledged that he’s no further along from a regulations side than they were, but they’ve learned more.”

The FDA’s regulation of the industry will remain slow-going, he said, and may require broader regulatory power from Congress in order to proceed.

“The disconnect between state and federal law is really hampering this agency, which regulates every type of food, beverage or topical ointment,” Bedwick said. “You’re seeing how this disconnect has completely hamstrung an entire agency from rolling out regulations. … In an odd twist, but a refreshing twist, companies are actually asking for the regulations. They want the regulations out there so that they can go and properly manufacture, produce [and] market their products, and the FDA has to date been very slow in providing those regulations.”

A bipartisan bill, H.R. 841 is among the cannabis-related legislation pending this year; the bill would direct the FDA to use its authority and resources to set a regulatory framework for hemp and hemp-derived products.

“Without some sort of legislation, I think it’s unlikely that the FDA gets any more aggressive on their timeline,” Martin said.

Congress could address the FDA’s regulation of hemp and hemp-derived products through next year’s Farm Bill, he added.

4. Cannabis policy reform could become more unlikely after the Midterms.

However the federal government chooses to address—or not address—cannabis policy reform, Bedwick and Martin said time is running out for meaningful change.

“If it’s a good Republican year [in the Midterm elections], which it seems like it will be for a number of historical, social, and economic factors, [and] if Republicans are in charge of one or both houses of Congress, I think it makes the prospects of federal cannabis policy moving through the Congress highly unlikely,” Martin said. “I think that is why lawmakers are feeling pressure to get something done this Congress, be it before the November elections or in the lame duck session. … They know as well as anyone that their leadership is not going to be interested in working on this issue.”

Overall, Martin said more work is needed to educate lawmakers on cannabis policy issues, but now is the best time to pass even modest reforms.

“There is a real sense of urgency,” he said. “In order to get some modest reforms done, it needs to be before the elections or before the new Congress is gaveled into session next January because the combination of a Republican-led Congress and a Biden administration that has shown a real aversion to doing anything around the issue of cannabis—that’s just really a difficult situation for the industry that I think will last anywhere from two to four years and will put a lot of pressure on states to continue to try and make these marketplaces work as best they can in the foreseeable future.”

Boston Hemp Creates New Customization Program: What’s in your hemp flower? – PR Newswire

The industry has found ways to extract other cannabinoids from the hemp plant. These cannabinoids have been found to create gentle highs for users and are extracted from the hemp plant to then infused in hemp flower. With so many different hemp-derived cannabinoids now available on the market, Boston Hemp has created a customization program for their customers. Boston Hemp patrons can choose to infuse their CBD flower with additional cannabinoids to enhance the existing bud’s CBD, HHC, THC-O, and/or Delta-8 THC. These customizations create a whole new type of flower product that is available nationwide to ship right to a customer’s doorstep.

HHC was first created in 1944 by the American chemist Roger Adams, when he added hydrogen molecules to Delta-9 THC. This process known as hydrogenation, converts THC to HHC. Ironically, this process is like the process used to create margarine from vegetable oil.

While Adams created HHC from conventional cannabis-derived THC, now the cannabinoid is typically derived through a process that begins with hemp, the low THC cannabis plant that was made federally legal by the 2018 farm bill. HHC is different than Delta-9 THC or Delta-8 THC in that it includes a hydrogen molecule that the other THCs do not. Manufacturers of HHC often equate the HHC high with a Delta-8 THC high.

Another cannabinoid that is added to the hemp flower is THC-O. THC-O is a semi-synthetic analog and prodrug of Delta-9 THC, which is derived from the hemp plant. It is said to be much more potent than Delta-8 and Delta-9 THC. Moderate doses of THC-O induce a euphoric high like Delta-9, but with noticeable hallucinogenic and psychedelic effects.

THC-O is becoming popular across the world thanks to people’s interest and understanding of other types of THC and their proliferation in the marketplace. The psychedelic and hallucinogenic effects are an enticing experience for cannabis users.

Lastly, another additive to the hemp flower is Delta-8 THC. Delta-8 is a cannabinoid that has the effect of creating a high that is milder than users report having when using Delta-9. Delta-8 is a naturally occurring compound that is found in small amounts within the hemp plant. Its popularity is on the rise, and you can now find Delta-8 products in smoke shops and hemp dispensaries across the country. Delta-8 is often referred to as „marijuana-lite” or „diet weed.”

With so many flower variations now available to Boston Hemp customers beyond regular CBD, these cannabinoid additives produce psychoactive responses that range from mild for Delta-8 or HHC or can pack a larger punch with the addition of THC-O.

Boston Hemp Inc. is the nation’s premier retailer of fine hemp flower. Their products are available for purchase in their showroom in Hanover, Massachusetts or online at BostonHempInc.com. Products can be shipped anywhere in the United States. Wholesale inquiries can be directed to [email protected].

SOURCE Boston Hemp Inc.

’The Clash Between State and Federal Law in the Cannabis Industry’: 4 Key Takeaways on Federal Policy Reform Efforts – Cannabis Business Times

Will federal law ever catch up to state policy reform that has allowed the cannabis industry to flourish in state-legal medical and adult-use programs across the country?

Law firm Cozen O’Connor hosted a June 16 webinar, “The Clash Between State & Federal Law in the Cannabis Industry – Where We are, Where We are Going, and What Lies Ahead” to offer some answers to this question.

Jeremy Garvey, co-chair of Cozen O’Connor’s Capital Markets & Securities team, moderated a panel with Joseph Bedwick, chair of the firm’s Cannabis Industry team, and Patrick Martin, managing director of the firm’s public strategies team, who both stressed that the disconnect between federal prohibition and state-legal programs has led to incongruities and difficulties that are not seen in any other industry.

While they said that federal lawmakers tend to follow public opinion at a slow pace, Bedwick and Martin noted that policymakers also typically shy away from overly complicated issues.

What does that mean for the future of federal cannabis policy reform?

Here, Bedwick and Martin share four key takeaways on the topic.

1. The Supreme Court could ultimately decide the fate of federal cannabis policy—or push Congress to do so.

Supreme Court Justice Clarence Thomas has called the current federal policy on cannabis “a half-in, half-out regime that simultaneously tolerates and forbids the local use of marijuana,” but Bedwick told Cannabis Business Times that, at the same time, the U.S. Supreme Court seems hesitant to take up cannabis-related cases or issue a significant ruling that could, for example, reschedule or deschedule cannabis at the federal level.

Earlier this year, the Minnesota Supreme Court ruled that, due to cannabis’s federally illegal status, a worker’s compensation insurer does not have to cover the cost of medical cannabis. The U.S. Supreme Court has been petitioned to take up the case because states have been divided on how to handle worker’s compensation disputes involving cannabis; Bedwick noted that courts in Minnesota and Maine have ruled against reimbursement, while those in New Jersey and New Hampshire have ruled in favor.

The Department of Justice (DOJ) then filed an amicus brief with the U.S. Supreme Court, urging them not to take the case out of Minnesota, but Bedwick said this is just one example of how the Supreme Court could take a cannabis-related case and rule in a way that would disrupt the current status quo.

“I suspect it would be very difficult to envision that they would rule in a way that would sound the alarm that cannabis is now legalized in the United States or descheduled,” he said. “What they may do, if they take a case like this, … is it would be the piecemeal chipping away at it to give Congress a kick in the pants and say, ‘Hey, Congress, you need to act.’”

The justices have indicated in the past that they do not believe the Supreme Court is the proper institution to address federal cannabis policy, Bedwick added, which they largely believe to be a legislative task.

“Institutionally, the Supreme Court is not equipped to pass law,” he said. “What they may do, … in setting concurring opinions, [is] they may make it clearer and clearer that, hey, Congress, this is where we’re going, but you need to get your act together so that we don’t have to do something. … It’s very hard to imagine the Supreme Court actually issuing a landmark ruling, but they could. Would it be out of the realm of possibility that they agree to take a case like this Minnesota case or a case similar to it? No, it’s not out of the realm. And then maybe over the course of a number of decisions, you’ll see some precedential impact on or precedential rulings on how the court is viewing cannabis in the federal landscape.”

2. Compromise legislation may be more feasible than sweeping bills like the CAOA or MORE Act.

While comprehensive legislation to federally legalize cannabis has gained momentum in recent years—the Marijuana Opportunity Reinvestment and Expungement (MORE) Act has passed the House twice and U.S. Sens. Chuck Schumer, D-N.Y., Ron Wyden, D-Ore., and Cory Booker, D-N.J, are expected to formally introduce the Cannabis Administration and Opportunity Act (CAOA) sometime this summer—Martin said that Schumer is beginning to have conversations with Republican lawmakers on Capitol Hill about compromise legislation that could gain the support needed to clear Congress this year.

Martin said a compromise bill would likely have four components: the SAFE Banking Act; Rep. Dave Joyce’s, R-OH, Harnessing Opportunities By Pursuing Expungement (HOPE) Act, which incentivizes state and local governments to expunge cannabis-related records; a proposal to provide veterans access to medical cannabis; and provisions to expand federal cannabis research.

“If Leader Schumer and the Democratic leadership want to go beyond SAFE Banking and want to see if they can get a few pieces of cannabis legislation passed together, I think those four proposals represent noncontroversial bipartisan proposals that could potentially get 60 votes in the Senate and pass,” Martin said. “I think that’s what the leadership is trying to assess right now, is: Is there a deal that goes a little bit beyond SAFE Banking but also doesn’t risk alienating Republicans who have been supportive of modest reforms?”

3. Congress may have to jumpstart FDA regulation.

Just as the Supreme Court may be looking to Congress to initiate federal cannabis policy reform, the U.S. Food and Drug Administration (FDA) may also need lawmakers to jumpstart the agency’s regulation of the industry.

“The FDA has been looking into regulations and CBD for years,” Bedwick said. “Just last month, the head of the FDA appeared before Congress and basically acknowledged that he’s no further along from a regulations side than they were, but they’ve learned more.”

The FDA’s regulation of the industry will remain slow-going, he said, and may require broader regulatory power from Congress in order to proceed.

“The disconnect between state and federal law is really hampering this agency, which regulates every type of food, beverage or topical ointment,” Bedwick said. “You’re seeing how this disconnect has completely hamstrung an entire agency from rolling out regulations. … In an odd twist, but a refreshing twist, companies are actually asking for the regulations. They want the regulations out there so that they can go and properly manufacture, produce [and] market their products, and the FDA has to date been very slow in providing those regulations.”

A bipartisan bill, H.R. 841 is among the cannabis-related legislation pending this year; the bill would direct the FDA to use its authority and resources to set a regulatory framework for hemp and hemp-derived products.

“Without some sort of legislation, I think it’s unlikely that the FDA gets any more aggressive on their timeline,” Martin said.

Congress could address the FDA’s regulation of hemp and hemp-derived products through next year’s Farm Bill, he added.

4. Cannabis policy reform could become more unlikely after the Midterms.

However the federal government chooses to address—or not address—cannabis policy reform, Bedwick and Martin said time is running out for meaningful change.

“If it’s a good Republican year [in the Midterm elections], which it seems like it will be for a number of historical, social, and economic factors, [and] if Republicans are in charge of one or both houses of Congress, I think it makes the prospects of federal cannabis policy moving through the Congress highly unlikely,” Martin said. “I think that is why lawmakers are feeling pressure to get something done this Congress, be it before the November elections or in the lame duck session. … They know as well as anyone that their leadership is not going to be interested in working on this issue.”

Overall, Martin said more work is needed to educate lawmakers on cannabis policy issues, but now is the best time to pass even modest reforms.

“There is a real sense of urgency,” he said. “In order to get some modest reforms done, it needs to be before the elections or before the new Congress is gaveled into session next January because the combination of a Republican-led Congress and a Biden administration that has shown a real aversion to doing anything around the issue of cannabis—that’s just really a difficult situation for the industry that I think will last anywhere from two to four years and will put a lot of pressure on states to continue to try and make these marketplaces work as best they can in the foreseeable future.”

Item 9 Labs Corp. Nears Completion of Cannabis Cultivation and Lab Facility in Pahrump, Nevada – Cannabis Business Times

PHOENIX, Arizona, June 24, 2022 – PRESS RELEASE – Item 9 Labs Corp., a vertically integrated cannabis dispensary franchisor and operator., announced that its new 20,000-square-foot, state-of-the-art cultivation and lab facility in Pahrump, Nev., is nearing completion and expected to be fully operational by end of 2022.

The master development and expansion of the Nevada Facility began in early 2019 and has been advancing quickly, especially the past year. Currently, Item 9 Labs Corp. is awaiting the water and electrical connections to be completed, as well as the installation of air conditioning units and backup generators. The company is working with the City of Pahrump and Nye County to finalize the Certificate of Occupancy.

„Our Nevada cultivation and lab facility was strategically developed to ensure full optimization and efficiency throughout,” said Chase Herschmann, director of business development at Item 9 Labs Corp., adding that the company’s experienced team has spearheaded the build and expansion of multiple cultivation sites across the North America, along with its current master site expansion that is underway in Coolidge, Ariz.

He continued, „Our construction team works hand-in-hand with operations to ensure our facilities are developed with our strategic processes for every function, from cultivation to extraction and production top of mind.”

Once the cultivation and lab facility is finalized this coming fall, it will include: 4,450 square feet of operations space for flower, 990 square feet of vegetation space, 400 square feet for clones, 300 square feet for dry curing and 615 square feet for genetics. The facility also houses more than 2,500 square feet of post-processing and lab space, along with the opportunity for a joint venture with a commercial kitchen space of 1,100 square feet. The remainder of the building is ancillary rooms such as water rooms, offices, locker rooms and break rooms.

„Nevada is a rapidly growing adult-use cannabis market that shows no sign of slowing down,” said CEO of Item 9 Labs Corp. Andrew Bowden. „We are optimistic about the potential opportunities we have to expand alongside the booming cannabis industry in Nevada.”

CBD Pioneer Elixinol is Helping You Rest Easy – Cannabis Now

Whether the result of a demanding lifestyle or medical issues, improper sleep health affects 50 to 70 million Americans of all ages and stages. Lack of sleep can impact alertness, reaction speeds, learning ability, mood, hand-eye coordination and short-term memory accuracy. The new Sleep Collection from Elixinol promotes a quality night’s rest while also supporting calmness and relaxation.

Considered a pioneer in the hemp industry, Elixinol was founded in 2014 with a mission to deliver high-quality CBD products that provide real results for real people. As one of the first CBD brands on the market, the company has spent the last seven years focusing on the science, research and creation of world-class cannabinoid products.

Founder Paul Benhaim has been working with the hemp plant for more than 25 years and is considered an expert in the industrial hemp industry. The environmental and wellness advocate was first attracted to hemp as a dietary supplement and, according to an interview with The Big Smoke, he has “strived to create the best quality products, for the best end-user experience through science and technology, using whole plant-based products as naturally as possible.”

The Elixinol Experience

Elixinol’s products are formulated for a targeted experience, whether that’s for supporting balance, recovery, immunity or sleep.

Data suggests that 25% of adults report inadequate sleep for at least 15 out of every 30 days. Now, those seeking more natural sleep remedies can turn to Elixinol’s line of sleep supporting CBD products, which includes capsules, gummies and oils. Let’s take a closer look at these products and how they work.

Sleep Good Night Capsules

Elixinol CBD Sleep Good Night Capsules with lipsome technology

This full-spectrum blend contains 15mg of CBD and 2mg of melatonin in each capsule to help you relax and get a solid night of sleep. The small amount of melatonin in Sleep Good Nights Capsules won’t leave you feeling groggy the next morning. Additionally, these capsules are vegan, non-GMO, gluten-free, lactose-free, cruelty-free and include supercritical CO2-extracted full-spectrum hemp oil.

Sleep Gummies THC Free

Elixinol CBD Sleep Gummies

Elixinol’s Sleep CBD Gummies contain natural fruit extract and are packaged in a discreet, pocket-sized container. Each gummy contains 15mg of CBD and 2mg of CBN. Made with broad-spectrum hemp extract the gummies contain no detectable amounts of THC, are GMO-free and suitable for vegans and vegetarians.

Liposome Technology

Elixinol is one of the few CBD companies featuring products with liposome technology for efficient absorption. Liposomes enhance the capabilities of the active compounds encased in an aqueous interior or lipid bilayer and are typically found in pharmaceutical delivery systems. Essentially, they create microscopic bubbles that encapsulate CBD and allow for a more effective delivery. This means your body receives more CBD per serving that might otherwise be lost in the digestive process.

Elixinol has two liposome products: Sleep Rapid Rest and Everyday Rapid Reset.

Sleep Rapid Rest Liposome

Sleep Rapid Rest contains a custom blend of CBD (5mg per serving) and CBN, a cannabinoid that’s known for helping with sleep, along with other calming ingredients, including chamomile and lemon balm. Sleep Rapid Rest supports feelings of calm and relaxation, and the advanced liposome technology will help you hit the pillow with purpose.

Everyday Rapid Reset Liposome

Sometimes, you just need a little help resetting. Everyday Rapid Reset is here to help you relieve any occasional stress, help physical discomfort, and just get that overall balanced feeling. This custom blend of broad-spectrum hemp extract contains 5mg of CBD per serving and is flavored naturally with orange and lemon extracts for a zesty pick-me-up.

Elixinol CBD Tinctures

Elixinol & CBD Education

All Elixinol products are certified by the U.S. Hemp Authority, so you can rest assured the products you’re consuming have been stringently regulated and tested. Elixinol conducts rigorous third-party laboratory testing and quality control across its full range of products and provides clear and detailed certificates of analysis.

Elixinol only uses the cleanest, highest-quality extraction processes that leave behind no harsh solvents or chemicals. By using CO2 extraction, the resulting high-quality hemp extract is better for you and the environment.

Finally, Elixinol is a resource for education and transparency for consumers. In 2016, Elixinol became the first company in the world to receive the seal of approval for its CBD products from the cannabis research, education and support group, the Realm of Caring.

“Education and research is an important core mission of Elixinol,” Benhaim explains. “The more people understand about CBD, the more they can make informed choices, and we want to help them get the best information and the highest-quality product.”

Native Roots Launches Gold Label: Small Batch, Handcrafted Cannabis – Cannabis Business Times

Barely three weeks following peak optimism, a group of medical cannabis legalization advocates in Nebraska now have dashed hopes of hitting their signature benchmark ahead of a July 7 deadline to appear on the state’s November ballot.

Proponents of Nebraskans for Medical Marijuana (NMM), a grassroots initiative effort, announced June 22 that they’re about 50,000 signatures short of putting a pair of complementary legalization measures before voters this year. The group has 60,000 of the roughly 87,000 valid John Hancocks it needs for each measure but is hoping to gather north of 110,000 signatures for each measure to provide a cushion for those that are not validated.

State Sen. Anna Wishart, D-Lincoln, a co-sponsor of the petitions, announced earlier this month that the ballot campaign was on track after NMM had raised $50,000 and doubled its signature count to approximately 40,000 for each measure in a two-week period. The group had qualified 15 of Nebraska’s 93 counties at that time.

RELATED: Nebraskans for Medical Marijuana Picks Up Signature Steam For Ballot Initiative

This week, Wishart wasn’t so confident.

“The reality is we need 50,000 Nebraskans to sign the petition in the next two weeks,” she said, NBA-affiliate WOWT reported. “Now it’s on Nebraskans. The volunteers and patients have carried the water this far. It’s on Nebraskans to go out and find a place to sign it.”

The tone among other reform advocates turned emotional during a NMM press conference on June 22 in Lincoln, the Nebraska Examiner reported.

One mother, Crista Eggers of Omaha, who serves as a campaign chairwoman for NMM, held up a photograph of her 7-year-old son, Colton, who suffers from up to 100 epileptic seizures a day, as she implored Nebraskans to sign the petitions, the news outlet reported.

“Do it for the suffering people in this state who are pleading with you,” Eggers said. “This will fail if you don’t step up. We are begging you.”

Nebraska is one of 13 states where medical cannabis without low-THC restrictions remains illegal. Under current Nebraska laws and penalties, possessing 1 ounce to 1 pound of cannabis is a misdemeanor punishable by up to three months of incarceration and a $500 fine.

Hemp Bombs® Debuts High Potency Delta-8 THC Gummies – PR Newswire

Customers can try variety of flavors with new 50-count bottle bundles created to maximize value to consumers –

TAMPA, Fla., June 24, 2022 /PRNewswire/ — Hemp Bombs, the manufacturer and distributor of award-winning CBD, Delta-8 THC and Delta-9 THC Gummies, announces its newest line of gummies, Hemp Bombs High Potency Delta-8 THC Gummies.

„Delta-8 is one of the most popular cannabinoids being utilized alongside CBD products,” said Kevin Collins, co-founder of Hemp Bombs.

Last year, Hemp Bombs original Delta-8 THC Gummies were named a 2021 Retailer Choice Best New Product by CSP Magazine. Hemp Bombs High Potency Delta-8 THC Gummies contain 50mg of Delta-8 THC per gummy and come in five flavors: Apple Aftershock, Blue Raspberry Burst, Frosted Pink Lemonade, Mellow Mango and Mixed Berry Blast. All flavors will be available in a 50-count bottle with an MSRP of $99.99.

Customers can also take advantage of new bundle savings by choosing two flavors of 50-count bottles for an additional $50 each, a savings of up to $100 for three bottles. By purchasing three bottles, a customer would be paying just $0.03 per MG of Delta-8 THC, the best value for customers in the industry. Similar bundle savings have been applied to Hemp Bombs Delta-9 THC gummies— three 50-count bottles costing $159.99, a savings of $65.

Federally compliant under the 2018 Farm Bill, all Hemp Bombs THC Gummies are independently lab tested to ensure safety and compliance with all state and federal regulations.

„As our experience and reputation shows from manufacturing award-winning, industry-leading CBD products, we are more than capable of manufacturing reliable and safe Delta-8 products,” said Collins. „We oversee the entire process, from raw material verification to packaging, shipping and marketing, so that our customers can have the utmost confidence in our Delta-8 products,” said Collins.

All Hemp Bombs products are crafted and manufactured by its in-house team of more than 300 employees across four manufacturing and distribution locations in Tampa, Florida.

For more information about its commitment to providing the highest-quality Delta-8 products and to shop Delta-8 and Delta-9 THC Gummies, visit www.hempbombsplus.com.

About Us

Hemp Bombs®, founded in 2016 and headquartered in Tampa, Florida, is a manufacturer and distributor of hemp-derived CBD, Delta-8, and Delta-9 cannabinoid products. With more than 150,000 square feet of manufacturing space and over 350 employees, Hemp Bombs manufactures edibles, tinctures, topicals and pet products. Its award-winning gummies and other products are available in more than 20,000 locations nationwide and online at https://hempbombs.com/ and https://hempbombsplus.com/.

Media Contact:
Joe Agostinelli, PR Manager
813.497.5752 | [email protected] 

SOURCE Hemp Bombs