What Justice Thomas Did for Cannabis
We asked our in-house Senior Policy Analyst, and member of the Supreme Court Ninth Circuit bars his take on Clarence Thomas's comments about Cannabis and legalization. He said the following:
"It is a statement indicating his view that it’s time to find the right case vehicle to revisit whether Raich Vs. Gonzalez should remain good law. As of now, there is no change in the law despite the suggestion in Justice Thomas’s concurrence. Substantively, he is saying that the federal government’s implicit acceptance of legalized pot logically undermines the assumption that local laws should remain subjugated to federal controlled substances law. But nothing has changed despite Justice Thomas’s abstract view. It’s just an opinion signaling to interested lawyers that the Court could take the proper vehicle to re-strike the balance between federal and state/local authority involving marijuana laws. He’s inviting a petition on a case that squarely presents the issue. This case (Akimbo) does not work for this purpose because there are ongoing proceedings to clarify tax liability that could actually raise ripeness issues under Article III of the Constitution (case not yet ready for final Supreme Court resolution). But he is basically saying the law is a mess here, so let’s finally get a good case on review that can resolve this. He is hinting he thinks local police power would be primary and that local cultivation or other local pot laws would survive legal challenge as proper exercises of a local authority that federal authorities – presumably including the IRS – would need to respect."
Paul Glenchur serves as Senior Policy Analyst at Hedgeye Potomac Research. Mr. Glenchur is a graduate of the University of California at Berkeley and earned his J.D. at the University of California Hastings College of the Law, where he was an editor of the law review. Mr. Glenchur is a member of the Federal Communications Bar and has testified before House and Senate committees on telecommunications issues.
Valens Agreement to Manufacture for Gallery Brands
VLNCF is a Canadian long.
To manufacture their products, Valens has entered an agreement with Gallery Brands, a premier cannabis brand with a carefully curated product portfolio. Under the agreement, Valens will manufacture both beverages and edibles under the brands - Blessed and Flir, owned by Gallery. The Blessed brand, founded by Angelina Blessed and inspired by her career as a professional Muay Thai fighter, offers health and wellness-focused cannabis products containing elements essential during intense athletic recovery. The Flir brand, created by chocolatier and culinary enthusiast Riley Starr, celebrates exceptional ingredients alongside the experience of cannabis edibles, bringing cannabis-infused products to food-forward consumers. Tyler Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company, said, “This partnership builds on our balanced portfolio of custom manufacturing agreements with brand houses looking to offer differentiated cannabis products to Canadian consumers across a range of categories. We are thrilled to partner with a company that recognizes and addresses unique customer preferences and is known in the industry for its innovative branding and strong retail and distribution network across the country.”
TCNNF MA
TCNNF is a USA long.
Just yesterday, Trulieve announced its completion of the acquisition of the retail dispensary previously known as Nature's Remedy of Massachusetts. The total amount paid was $13.5 Million with $7 Million in cash and the remaining amount in Trulieve shares. The dispensary is located in Worcester, MA, a town of 200,000 about four hours west of Boston. This acquisition shows the value of assets for a retail dispensary in the state. With this new store, Trulieve now has a footprint of two dispensaries in Massachusetts and seven total dispensaries out of its home state of Florida. This is not including the assets of Harvest Health, which Trulieve announced the acquisition of, but has not closed on yet.
