Cannabis Countdown: Top 10 Marijuana Industry News Stories Of The Week – Yahoo Finance

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Cannabis Countdown: Top 10 Marijuana 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 industry news stories for the week of January 6th – 12th, 2020.

Without further ado, let’s get started.

10. Have No Beer, Legal Weed is Here: Beer Sales Decline as Canadians Opt For Legal Cannabis

New data shows Canadians are drinking less beer and consuming more marijuana following adult-use Cannabis Legalization in Canada. The recent decline in booze sales has led to several large alcohol/cannabis partnerships with these 3 top Canadian Pot Stocks joining forces with the makers of Corona, Molson and Budweiser.

READ FULL WEED VS BEER ARTICLE

9. 6 New Canadian Cannabis-Infused Drinks

READ FULL CANNABIS DRINKS ARTICLE

Legalization 2.0 is gifting Canadians with a selection of new treats like chocolates, gummies, cookies, mints and more. At this rate, the product offering of legal cannabis-infused edibles in Canada will start to seriously compete with what’s available in legalized states south of the border.

READ FULL MARIJUANA EDIBLES ARTICLE

7. Analyst Warns of Shelved Expansion, Restructuring as Cannabis Firms ‘Teeter on Edge’

The number of Canadian cannabis producers with fewer than six months of cash on hand has increased over the past quarter, reflecting disappointing earnings and front-loaded capital expenditures, according to an analyst.

READ FULL ANALYST ARTICLE

6. Marijuana Businesses Raise Millions of Dollars by Cashing Out of Real Estate

Large cannabis companies increasingly are selling their own cultivation, processing and storage facilities and immediately leasing them back as a way to instantly raise tens of millions of dollars at a time when outside financing is scarce. Unlocking the value of real estate with a sale provides money that can be used to grow a marijuana firm’s core business, without diluting the value of its stock, the way issuing more shares would.

READ FULL SALES-LEASEBACK ARTICLE

5. Nova Scotia is Nearly Out of Edibles and Other Cannabis 2.0 Products

With the early debut of Edibles in Nova Scotia Liquor Corporation stores—launching across a dozen stores on Dec. 23 while Ontario had to wait until this week—the Maritime province was rewarded for its passion for cannabis. Some stores were completely out of edibles by the end of the first day, while the entire province was “almost out” of edibles by Dec. 27.

READ FULL NOVA SCOTIA ARTICLE

4. California Governor Proposes Changes to Marijuana Regulations and Taxes

California Gov. Gavin Newsom (D) unveiled his annual budget proposal on Friday, and it contains several provisions aimed at simplifying and streamlining regulations for the Golden State’s marijuana industry.

READ FULL CALIFORNIA ARTICLE

3. Congress Will Debate Two Bills to Legalize Marijuana at Hearing With DEA Witness Next Week

A congressional committee will debate two bills to federally legalize marijuana and several other pieces of cannabis research legislation next week, according to a briefing memo.

READ FULL CANNABIS LEGALIZATION ARTICLE

2. Andrew Cuomo Promises to Legalize Cannabis in New York

New York wasn’t able to legalize cannabis last year, but Governor Andrew Cuomo vows it’ll happen this time around. Cuomo on Wednesday highlighted adult-use cannabis legalization as one of his 2020 priorities.

READ FULL NEW YORK ARTICLE

1. First Week Adult-Use Cannabis Sales in Illinois Totaled Million

Illinois cannabis stores have had approximately a week to sell recreational marijuana since the state began allowing it Jan. 1, and demand has proven so extreme that – despite enjoying about $11 million in early sales – some retailers have cut off adult-use customers temporarily to conserve inventory.

READ FULL ILLINOIS ARTICLE

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