Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move: $TCNNF, $TRSSF, SAFE Banking and Cannabis related Execution
Delta, Kelowna, BC, April 28, 2023 (Investorideas.com Newswire), investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
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Today’s podcast overview/transcript:
In today’s podcast we go over a few public company announcements, the reintroduction of the SAFE Banking Act, a cannabis related execution in Singapore and cannabis in sports.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, announced the grand opening of Georgia's first medical cannabis dispensary in Macon. The new dispensary will be open 10 AM - 7 PM, seven days a week and is located at 3556 Riverside Dr.
Trulieve will host a grand opening celebration today, on Friday, April 28 at 9:30 AM with a ribbon cutting, food trucks and merchandise giveaways.
The Company will open three more dispensaries this year located at:
● Columbus: 4238 Armour Road
● Newnan: 1690 E Hwy 34
● Pooler: 2002 Pooler Parkway
"We believe that access to medical cannabis improves lives, and Trulieve is proud to be the first to provide that access to the state of Georgia," said Kim Rivers, CEO of Trulieve. "We look forward to providing high quality products and an elite experience."
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator today announced that it has entered into a 5-year licensing agreement with international cannabis brand, Cookies, to cultivate and manufacture Cookies products in Maryland. The Agreement provides Maryland patients and future adult-use customers access to all of Cookies' current flavours including Gary Payton, Cereal Milk, Georgia Pie, The Soap, Medellin and Pancakes. Cookies strains and products are now available in Maryland in limited quantities at both Company-owned retail as well as third-party dispensary locations. The Company expects the full menu to begin appearing on dispensary shelves shortly.
On January 30th, 2023, TerrAscend announced the acquisition of Allegany Medical Marijuana Dispensary, a high-performing medical dispensary in Cumberland, Maryland that will rebrand as The Apothecarium. The company has also completed and operationalized a state-of-the-art 156,000-square-foot cultivation facility in Hagerstown.
"Using the same strategy implemented and executed in New Jersey a year ago, Maryland is poised to bring similar success as the state prepares to launch its adult-use program in July," said Jason Wild, Executive Chairman of TerrAscend. "TerrAscend is excited to extend this partnership and bring Cookies' full menu of high-quality genetics to Maryland. We look forward to providing patients and future adult-use customers with more of the world-class products and experiences they deserve."
"Maryland has shown Cookies love for products currently in the market, and we could not be more excited to expand our reach with TerrAscend," said Berner, Co-Founder and CEO of Cookies. "We're excited to launch a fresh menu of California flavors, expand our product selection and our presence on the East Coast with TerrAscend."
One news story that has seen some cannabis stocks rallying was of a group of bipartisan lawmakers who have reintroduced the Secure and Fair Enforcement (SAFE) Banking Act in the House and Senate on Wednesday, after the legislation designed to free up banking services for the cannabis industry stalled in last year’s Congress.
The bill, which has been tweaked since last session, was introduced by Sen. Jeff Merkley, D-Ore., Sen. Steve Daines, R-Mont., Rep. Dave Joyce, R-Ohio, and Rep. Earl Blumenauer, D-Ore.
If the critical banking and financial protections advance through committees, they could see a vote on the Senate floor for the first time. The bill, which has always had strong bipartisan support, passed in the House seven times previously.
“For the first time, we have a path for SAFE Banking to move through the Senate Banking Committee and get a vote on the floor of the Senate,” Merkley said in a statement. “Let’s make 2023 the year that we get this bill signed into law so we can ensure that all legal cannabis businesses have access to the financial services they need to help keep their employees, their businesses, and their communities safe.”
Senate Majority Leader Chuck Schumer, D-N.Y., expressed his support for the legislation on Thursday and said he would work to make sure the legislation includes criminal justice provisions when it reaches the floor.
Cannabis companies like Trulieve Cannabis Corp. (CSE:TRUL) and Terrascend Corp (OTC:TRSSF) saw their shares rise by double-digit percentages on Thursday. The bipartisan nature of the SAFE Banking Act’s reintroduction appeared to boost hopes of more relief to come in the industry.
“The SAFE Banking Act will provide urgently needed relief to cannabis businesses of all sizes and act as a stepping stone to broader reforms,” said Matt Darin, CEO of multistate cannabis operator Curaleaf Holdings Inc. (OTC:CURLF), in a statement after the bill’s reintroduction.
“This legislation will save lives and livelihoods. It is past time that Congress addresses the irrational, unfair, and unsafe prohibition of basic banking services to state-legal cannabis businesses,” said Blumenauer, founder and co-chair of the Congressional Cannabis Caucus.
While many investors and cannabis operators are hopeful, there is an equal amount of hesitancy and scepticism towards the success of this bill being passed due to the many failed attempts in the past and fact that many of the lawmakers who have put this bill forward seem to be compelled to overreach and try to include further cannabis legislation which could see this bill fail to pass through the Senate.
In a recent story from CNN, A Singaporean man convicted of trying to traffic around 2.2 pounds of cannabis was executed on Wednesday, a sentence that has been heavily condemned by civil rights groups and campaigners as well as those within the cannabis industry for its severity at a time when many other nations, including neighboring countries, have adopted a more lenient approach towards drugs and capital punishment.
While cannabis has been legalised in a growing number of nations worldwide, Singapore maintains some of the world’s harshest drug laws and its government remains adamant that capital punishment works to deter drug traffickers and must remain in place to maintain public safety.
Tangaraju Suppiah, a 46-year-old Singaporean, was put to death on Wednesday in Changi Prison, Singapore Prison Service said in a brief statement.
His sister Leelavathy Suppiah told CNN that her brother had been hanged and that the family had received a death certificate. It was Singapore’s first execution in six months.
In the days leading up to Tangaraju being sent to the gallows, family members and activists made public appeals for clemency and questioned the safety of his conviction. The European Union’s office in the city state and a United Nations’ rights office had also called for Singapore not to carry out his hanging.
Singapore's pre-execution photos seek to soften a policy activists say doesn't work
Tangaraju was sentenced to death in 2018 for “abetting the trafficking of more than one kilogram of cannabis (1,017.9 grams),” according to a statement from the Central Narcotics Bureau (CNB). The court found he was in phone communication with two other men caught trying to smuggle cannabis into Singapore.
Previous appeals against his conviction and death sentence were dismissed by the courts in 2019 while petitions for presidential clemency were also unsuccessful, CNB added.
“Tangaraju was accorded full due process under the law and had access to legal counsel throughout the process,” CNB’s statement said while describing capital punishment as “part of Singapore’s comprehensive harm prevention strategy.”
Family members and rights groups who took up Tangaraju’s cause rejected the government’s claims and detailed why they believed his death sentence conviction was unsafe.
“Tangaraju’s conviction relied mainly on statements from his police interrogation – taken without a lawyer and interpreter present – and the testimony of his two co-accused, one of which had his charges dismissed,” Amnesty International said.
“In countries that have not yet abolished this punishment, international safeguards require that the death penalty be imposed only when the guilt of the person charged is based upon clear and convincing evidence leaving no room for an alternative explanation of the facts – and after a legal process which gives all possible safeguards to ensure a fair trial,” Amnesty added.
Tangaraju’s sister Leelavathy spoke of her brother’s anguish and determination before his death sentence was carried out.
In other recent news, US long jumper Tara Davis-Woodhall has been stripped of her recent national indoor title and hit with a one-month suspension after a positive test for cannabis, the US Anti-Doping Agency (USADA) announced Tuesday.
USADA said Davis-Woodhall tested positive for THC, a chemical found in cannabis, marijuana and hashish. Her positive test was from the result of a sample collected in competition at the 2023 USA Track and Field indoor championships in Albuquerque, New Mexico, on February 17, the same day she had won the title with a jump of 6.99 metres.
Davis-Woodhall, 23, has already completed her suspension, which she began serving on March 21.
The positive test means Davis-Woodhall lost her title, as she was disqualified from all competitive results obtained on and subsequent to February 17, including forfeiture of any medals, points and prizes.
Cannabis, marijuana, and hashish are still considered prohibited substances under World Anti-Doping Agency (WADA) rules.
“WADA seeks input on each year’s updated version of the Prohibited List,” USADA’s press release states. “USADA has advocated and will continue to advocate to WADA, the rule maker, to treat marijuana in a fairer and more effective way to identify true in-competition use.”
Meanwhile in other US sports we have seen cannabis and THC be removed from testing in institutions like the NBA and NFL.
Per WADA rules, THC allows for a reduced three-month suspension if the athlete establishes the substance was taken out of competition and unrelated to sport performance. USADA said Davis-Woodhall’s case was reduced to one month for those reasons and because she completed a substance abuse treatment program for her use of cannabis.
In 2021, US sprinter Sha’Carri Richardson had initially booked her spot at the Tokyo Olympics with a runaway victory in the women’s 100 metres at the US Olympic track and field trials in Eugene, Oregon, only to have her title stripped after testing positive for marijuana.
Richardson was suspended for a month. USA Track and Field opted not to select her as part of the women’s 4x100-metre relay pool after her suspension ended, keeping Richardson off the Olympic team.
This case shows some of the hypocrisy from the US as only months ago the country was still discussing the fight to bring WNBA star Brittney Griner, who has been in Russian custody since February 2022, back home to the US after the athlete was charged with cannabis related offences in Russia.
President Joe Biden confirmed her release via Twitter on December 8, 2022. “Moments ago I spoke to Brittney Griner. She is safe. She is on a plane. She is on her way home,” he wrote.
Griner’s freedom was negotiated in the United Arab Emirates in exchange for a convicted arms dealer and prior to her release, plenty of her fellow athletes are leading the charge to get her back to the United States.
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