CANNABIS COMPANIES COMING TO THE NYSE?
The Capital Lending and Investment for Marijuana Businesses (CLIMB) Act, is being sponsored by Reps. Troy Carter (D-LA) and Guy Reschenthaler (R-PA), would allow state-legal cannabis companies to be listed on national stock exchanges and have access to financial services. “The CLIMB Act will eliminate these barriers to entry, and provide state legal American cannabis companies, including small, minority, and veteran-owned businesses, with access to the financial tools necessary for success,” the congressman said. “This bipartisan legislation will boost the economy, create jobs, and level the playing field for American businesses.”
Canadian Sales.
Canadian cannabis sales continue to deteriorate. April sales grew 3.7% MoM compared to up 10.9% MoM in March. On a quarterly basis, 1Q22 was down 1.9% compared to 4Q21 and only grew 22.8% on a YoY basis. In comparison, just 1 year ago, 1Q21 grew 72.8% on a YoY basis.
CBD TO THE MAJORS.
On Tuesday, Major League Baseball (MLB) told their baseball teams that they are now allowed to sell CBD sponsorships. Under MLB rules, a sponsor would need to be certified by the NSF, a global health and safety organization, to ensure the CBD products do not contain THC, which causes psychoactive effects.
