West Virginia Softens
Governor of West Virginia, Jim Justice, revealed Tuesday during a virtual town hall meeting that he may soften his stance against adult-use cannabis legalization in the state. When asked, during the meeting, if he welcomes adult-use legalization and taxing of cannabis, Governor responded – “I don’t, but I am weakening on that position.” Justice further explained that he was recently informed about the social benefits the legalization could bring, referring to the lowering of drug problems. What’s more, Justice said that he is aware of the reform appearing inevitable, even though he has not completely changed his personal outlook on the issue. “I’m not educated enough to make an excellent assessment as of yet, but I do believe that wave is coming across all our states,” he continued. “If our House and Senate get behind that effort and legalizes marijuana, I would too.”
Charlotte's Webb
Charlotte's Web positions itself for federal marijuana legalization by entering into an option agreement to acquire Stanley Brothers USA. The agreement has a five-year term and provides Charlotte’s Web the option to acquire Stanley Brothers on the earlier of three years from the effective date of the Option and federal legalization of cannabis, or such earlier time as Stanley Brothers and Charlotte’s Web may agree.
New Delivery Company
Waitr Holdings Inc. (WTRH), an on-demand food ordering and delivery company announced it has agreed to pursue a partnership with Flow Payments to create a compliant marketplace, delivery, and payment solution dispensaries selling cannabis. The partnership is expected to consist of Waitr’s proprietary delivery technology and assets, in conjunction with Flow Payments’ unique access to specific partnerships and corresponding payment processing solutions. The effect of this combination will be the creation of a specialized platform to facilitate the sale and delivery of cannabis while abiding by all federal and state directives. As we have learned from The Parent Company (GRAMF) cannabis delivery is very complicated and very different from delivering food! I'm skeptical about this announcement.
