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The Daily Hit is a recap of cannabis business news for Jan. 9, 2023. ON THE SITE Tilray May Pivot to Fruit, Beer Sales if Cannabis Remains Slow Tilray Brands Inc. (Nasdaq: TLRY) (TSX: TLRY) may expand its alcohol industry footprint or begin growing fruits and vegetables to make up for a shortfall in the marijuana trade if cannabis sales remain in a slump, according CEO Irwin Simon. Because Congress has let cannabis remain federally illegal, Tilray’s U.S. distribution network is going largely unused. Read more here. Tilray’s Revenue Falls As Net Losses Grow Tilray Brands reported financial results for…
Before explaining how to dry and cure cannabis, let’s make sure the objective is clear and the differences in each process are understood. Drying cannabis is essentially evaporating the leftover water in the flowers, while curing cannabis also causes water loss as well as chlorophyll evaporation, which makes for a much better flavour and aroma. This also increases cannabinoid content, as well as improving terpenes and essential oils. The Best Conditions for Drying Cannabis Plants In order to dry your cannabis plants correctly, you’ll need to keep in mind a couple of factors that determine certaine characteristics like aroma, flavour…
Michigan-based Cloud Cannabis, began adult-use cannabis sales at its Detroit location, becoming one of the first dispensaries to do so in the city. “Today marks the beginning of an exciting new period for both Cloud and the city of Detroit,” said Jacob Saboo, Co-Founder & Head of Retail at Cloud Cannabis. “We are proud to bring our premier retail experience to the city’s recreational customers, while sharing meaningful insights in cannabis education and a first-class portfolio of products with the local community. With big things ahead for Cloud in 2023, we couldn’t think of a better way to kick off the new year.” Detroit Delays While…
Importance of Oxygen in Hydroponic SystemsOxygen is an essential element for plant growth and is necessary for photosynthesis. Plants can suffer from reduced growth without sufficient oxygen and may even die. Oxygen is also crucial for the proper functioning of the roots, as it helps to break down nutrients and facilitate their uptake by the plant. In addition, oxygen helps to keep the root system healthy by preventing the buildup of harmful bacteria and fungi. Therefore, it is vital to ensure that the nutrient reservoir in which you are growing your plants has sufficient oxygen levels to promote healthy plant growth.In hydroponic…
The latest effort to let legal cannabis business open checking accounts and accept credit cards has failed, due to U.S. Senate opposition, leaving proponents to try to find another way to get the bill through Congress. The Secure and Fair Enforcement, or SAFE, Banking Act, was excised from the National Defense Authorization Act, which will set federal defense policy through Sept. 30, 2023. The provision was added by the U.S. House, but it never made it into the final bill because the Senate refused to go along. It’s the seventh time that the House passed SAFE Banking provisions, both as…
TEWKSBURY — An investigation by the Tewksbury Police Narcotics Unit at a known hot spot for drug activity led to the arrest of two men on fentanyl trafficking charges on Thursday. Jeffrey Gutierrez, 32, of Lawrence, and Nathan Leach, 45, of Sanford, Maine, were both charged with trafficking in more than 10 grams of fentanyl after they were allegedly observed conducting a drug deal in the shopping complex parking lot at 85 Main St., according to police. Tewksbury Police, with help of the Middlesex Sheriff’s Office, allegedly seized nearly 20 grams of fentanyl, as well as a small quantity of…
Four years after the Bay State’s first recreational pot shops opened, the state is adding weed education to its driving school curriculum. Massachusetts is the first recreational-use cannabis state to adopt, “Shifting Gears: the Blunt Truth about Marijuana and Driving,” a AAA curriculum that teaches teens about the risks of cannabis-impaired driving. The educational video goes over how THC — the active chemical in marijuana — impacts cognition, vision, reaction time, and perception of time and distance. Read the rest of this story on BostonHerald.com.
The Daily Hit is a recap of cannabis business news for Jan. 4, 2023. ON THE SITE Aurora Cannabis Sells Polaris Greenhouse, Struggles with Cash Burn Aurora Cannabis Inc. (Nasdaq: ACB) (TSX: ACB) closed the sale of its Aurora Polaris facility for approximately $15 million. The company has been trimming its expenses over the past two years by selling off and consolidating its various production facilities, while looking overseas for growth opportunities as the U.S. remains in legalization purgatory. Read more here. Virgin Islands Votes to Legalize Adult-Use Cannabis The U.S. Virgin Islands Senate voted to legalize adult recreational cannabis…
The South may be the last frontier for state cannabis legalization, but the region could be a boon for the industry once the floodgates open. A report from cannabis consulting firm Global Go posits that these four states could provide value for entrepreneurs sitting on the sidelines of Florida’s limited vertical model – especially given Alabama’s approval of medical cannabis last May and further expansions in the other three state’s existing medical programs. But the success has little to do with the “overall political leanings of (a state electorate),” said Tom Adams, principal analyst and CEO of Global Go and…
The country of Colombia may have a reputation as the home for cocaine cartels, but it is leaning further into cannabis these days. According to government claims, the country has received $250 million in international funding in support of the cannabis sector. Companies began eyeing the country after it legalized medical cannabis in 2016. Insurance Coverage In October 2022, Colombian lawmakers approved a bill to legalize and regulate marijuana nationwide. It was approved by the Colombian Senate last month. In addition to that, Resolution 2808 of 2022 was signed by the Ministry of Health on December 30, 2022. According to…