This week rescheduling chatter slogs on, Canopy Growth promises to make money, Thailand and Peru become less awesome
Time is a precious commodity here at Marijuana Venture, so when it comes to news briefs, we like to run the most impactful stories possible and let the more incremental coverage fall to the wayside — until now. Here is a candid, possibly even antagonistic, recap of the stories from the past week that we didn’t cover in full detail.
More details on DHS’ cannabis rescheduling recommendation
This week saw a wave of headlines about the Department of Health and Human Services recommending cannabis to be rescheduled that were shockingly similar to the headlines the industry saw in August 2023, and nearly every week since. This time, it was the full, unredacted recommendation that was posted online, which definitely gave more details on what was already reported six months ago, but not really anything new. The Food and Drug Administration also provided its scientific support for rescheduling. But the industry still awaits an official decision from the DEA.
Canopy Growth: Plans to fail upward?
News broke on January 16 that Canopy Growth’s planned sale of about 6.9 million units, which would have brought in $30 million in gross proceeds, was terminated just days after it was announced. But fret not, because on January 18, the company issued a press release that it is planning a new round of financing with the exact same terms to sell 8.1 million units for $35 million. Touché.
Secret cannabis greenhouse hidden behind refrigerator in Peru home
This story sounds just wild enough that we could have included it as a news brief. An entire greenhouse hidden behind a refrigerator in a person’s home is the kind of Cheech and Chong hijinks we like to see — that is, until you realize that this was in Peru and the person who was arrested is now facing between eight and 15 years in prison.
Thailand proposes ban on recreational cannabis
Just 18 months after Thailand became the first country in Southeast Asia to decriminalize adult-use cannabis, the Ministry of Public Health has now drafted a bill to ban recreational use and limit it to medical purposes. The proposal also included reintroducing large fines and one-year prison sentences for possession and use. It sucks, but it isn’t really going to impact the majority of our readers. Still sucks and hopefully stays just as a tone-deaf proposal.
Least appealing of the week
Make sure you miss the following stories: Cannabis supporters advocate for the legalization of marijuana; Municipalities collect cannabis tax funds; Cannabis is helping many Americans through Dry January.
Chances are if the headline reads along the lines of advocates are advocating or government collects taxes, then it’s pretty safe to guess that there is nothing of value hidden behind those links. And yes, of course, cannabis is going to help people cope with taking a 30-day hiatus on alcohol – they quit drinking, not being fun.