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

Welcome to theCannabis Countdown. In this weeks rendition, well recap and countdown the top 10 Marijuana and Psychedelics industry news stories for the week of March 16th 22nd, 2020.

Without further ado,lets get started.

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10. Demand for Cannabis Delivery Surges in Response to Coronavirus Pandemic

With the Rise of COVID-19, Demand for Cannabis Delivery Has Increased as More Turn to Pot to Cope

Many marijuana delivery services and retail shops have seen a sharp rise in sales as a result of theCoronaviruspandemic.Red White & Bloom (RWB), is an example of a largemulti-state operator (MSO)that offers cannabis delivery services.RWBhas 10 stores inMichiganwhere adult-use cannabis is legal, many of which are set up to offer the option of home delivery.

READ FULL CANNABIS DELIVERY ARTICLE

9. Hawaii to Study Magic Mushrooms with Goal of Psilocybin Legalization

Resolutions Introduced Would Seek to Eventually Legalize Psilocybin Products in Hawaii for Medical Use

Following the opening of the United States first legalPsychedelicsclinic in New York City, interest in exploring the health benefits of psychedelic substances likePsilocybin(Magic Mushrooms) continues to grow. Lawmakers in Hawaii arebeginning to explorethe potential therapeutic uses of psychedelic mushrooms (i.e.Psilocybin).

READ FULL HAWAII PSILOCYBIN ARTICLE

8. Cronos Group Faces SEC Inquiry Over Revenue Recognition Practices

SEC Inquiry Related to How Cronos Recognized Revenue for Certain Bulk-Resin and Wholesale Deals

Late Thursday evening,Max CherneyofMarketWatch reportedthatCronos Group (NASDAQ: CRON) is the subject of an SEC inquiry. According to documents viewed by MarketWatch, Cronos staff were allegedly asked to preserve records related to deals with four Canadianpot stocks.

READ FULL CRONOS GROUP ARTICLE

7. California Psilocybin Legalization Activists Request Online Signature Gathering Amid Coronavirus

Decriminalize California and its Campaign Partners Are Requesting an Emergency Policy Change

A campaign to legalizePsilocybinmushrooms inCaliforniais asking the state to allow online signature gathering for their ballot petition, arguing that theCoronavirusoutbreak necessitates an alternative means to put thePsychedelicreform measure before voters in November.

READ FULL CALIFORNIA PSILOCYBIN ARTICLE

6. Marijuana Industry Pleads for Access to Federal Coronavirus Business Relief

Legal Marijuana Employs Roughly 240,000 People in the U.S., But Cannabis Still Remains Federally Illegal

As Congress scrambles to reach a consensus on how to help Americans caught in the financial fallout ofCOVID-19, a coalition of marijuana industry trade groups is urging federal lawmakers not to forget about the hundreds of thousands of workers in state-legal cannabis industries.

READ FULL CANNABIS INDUSTRY ARTICLE

5. Bruce Linton on Psychedelics, Listing on the NEO, and the Difference Between Going Public and Being Public

Bruce Sat Down with the Green Rush Podcast to Discuss What Hes Been up to Since Leaving Canopy

Bruce Linton, formerly the CEO of cannabis behemothCanopy Growth (NYSE: CGC) and now Director ofMindMed (OTC: MMEDF) sat down with The Green Rush podcast. Since his departure from Canopy in 2019, Bruce has since moved onto several new ventures within the cannabis andPsychedelicsspaces but is still the unquestioned face of the industry.

READ FULL BRUCE LINTON ARTICLE

4. Cannabis Sales Soar as Canadians Hunker Down to Stop Coronavirus

To Manage Stress in the Face of the COVID-19 Pandemic or Just to Pass the Time Under Quarantine

Canadians and tourists have been lining up for several days at pot shops and flooding online cannabis retailers sites to stock up on the mood-altering drug.

READ FULL CANADA CANNABIS SALES ARTICLE

3. Amid Coronavirus Pandemic, California Gov Classifies Cannabis Industry as Essential During States Effective Lockdown

Decision to Categorize Cannabis Firms as Essential Provides an Economic Lifeline to the Industry

Under a clarification document Gov. Gavin Newsom issued late Friday, all licensed marijuana businesses inCaliforniacan continue with business as usual during an effectivestatewide lockdownimplemented in response to the coronavirus outbreak.

Story continues

READ FULL CALIFORNIA ARTICLE

2. Champignon Brands to Expand Psychedelics IP Portfolio Through Novo Formulations Acquisition

Novo is a Specialty Biotech Firm Currently Working with Ketamine, Anaesthetics and Adaptogenics

Champignon Brands (OTC: SHRMF) announced that on March 18, 2020, the company signed a definitive agreement to acquire Novo Formulations Ltd. Champignon Brands plans to leverage the Novo Formulations deal to pursuePsilocybinandMDMAformulations.

READ FULL CHAMPIGNON BRANDS ARTICLE

1. Pot Sales Jump as More People Stay at Home: Bank of America

This Implies That Pot is a Defensive Category, Like Alcohol and Tobacco

More people stuck at home has led to a higher demand for cannabis, andAphria (NYSE: APHA) is one of the best-positioned companies to take advantage of that trend, an analyst at Bank of America said. Carey also raisedOrganigram (NASDAQ: OGI) to neutral from underperform, leaving his price target at $2.50.

READ FULL CANNABIS SALES ARTICLE

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Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week - Yahoo Finance

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