The World Anti-Doping Agency (WADA),
The global anti-doping watchdog for sports, is expected to keep cannabis on its list of prohibited substances for 2023 despite lingering questions on the drug’s effects on athletic performance, The Wall Street Journal reported Monday. The decision, likely to be finalized in a meeting later this month and expected to take effect from Jan. 2023, means that athletes subject to WADA’s drug-testing code will risk suspension if they test positive for cannabis. “WADA’s Executive Committee will be asked to approve the final version of the List during its 23 September meeting, with the List itself being published on or before 1 October and coming into force on 1 January,” a WADA spokesman said, noting that the decision is still under consideration. WADA agreed to review the status of cannabis on the prohibited list last year at the request of the U.S. Anti-Doping Agency and U.S. politicians after the suspension of American sprinter Sha’Carri Richardson for testing positive for chemicals found in marijuana.
TILT OPENS IN CAMBRIDGE
TILT Holdings (TLLTF) will host the grand opening of their newest dispensary in Cambridge, Massachusetts, for medical patients today. Their new dispensary is located at 1385 Cambridge Street in the heart of Inman Square. The festivities include remarks from TILT’s Chief Executive Officer (CEO) Gary Santo and Highsman founder and former NFL player Ricky Williams, whose products launched in Massachusetts on Thursday. “Our CAC team worked diligently to bring this store to life and the effort shows in each intentional detail of the patient experience,” said Gary Santo, CEO of TILT. “We are proud to serve Cambridge patients in an expansive environment with consistent, high-quality product offerings, such as Highsman. It was great to launch both Highsman and CAC Cambridge with Ricky here with us as both teams kick off new and exciting chapters TILT Holdings (TLLTF) announced yesterday the Massachusetts launch of Highsman, a purpose-driven cannabis lifestyle brand founded by former NFL running back, Ricky Williams. Highsman is available to patients and adult-use consumers at TILT subsidiary, Commonwealth Alternative Care Inc.'s, locations in Brockton, Cambridge, and Taunton, as well as at wholesale dispensary partner locations throughout Massachusetts. Like other TILT brand partners, Williams’ operations are more than just business; it’s personal. He often faced scrutiny for using cannabis as a sports recovery aide, managing social anxiety, and supporting his mental health, but post-retirement, his management strategy became the inspiration for a new business. Williams launched Highsman in November 2021 to inspire greatness in athletes and sports fans alike. Now, two years later, Massachusetts marks the third state Highsman is in, with Pennsylvania anticipated to launch later this month.“I wanted to address two things when I launched Highsman: break down the cannabis stigma and improve access for those who benefit from its use,” shared Williams. “Launching with TILT, I could keep focused on my mission while also creating strains unseen in the market. I couldn’t have done this without TILT and the cultivation team, who share our passion for the cannabis industry.”
Glass House Closes On Moro Bay.
Yesterday, Glass House Brands (GHBWF) announced that all local regulatory approvals have been granted for Glass House’s acquisition of the Natural Healing Center (NHC) dispensary located in Morro Bay, California and that the transaction has officially closed. Consolidation of the financial results of the Morro Bay store into Glass House’s financials will begin effective immediately. With the closing of the Morro Bay dispensary transaction, Glass House will finish Q3 with 7 retail dispensaries. Glass House announced that they would be acquiring this company back on May 12th. Glass House expects to issue on closing a total of approximately 2.0 million new equity shares in conjunction with the closing of the Morro Bay acquisition. These shares will all be issued at US$4.41 per equity share, the 25-day VWAP for Glass House Brands equity shares trading on the NEO Exchange calculated as of May 12, 2022, the date upon which definitive agreements were signed.
