The week in cannabis: Illinois will rec, Quebec retires and a 2019 recap

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A new decade is here. And thus a year in which "4/20" will last a whole month!

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Approved cannabis for adults has arrived in Illinois, with long lines outside the pharmacies formed on January 1. The day saw .2 million sold in weed products. Lt. was one of the first customers. Gov. Juliana Stratton. "Data-reactid =" 19 "> Legal cannabis for adults came to Illinois on January 1, with long lines outside the pharmacies established on January 1. There were 0.2 million weed products per day. Lt. Gov was one of the first customers Juliana Stratton.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Before the introduction of the leisure program, Governor JB Kündigt Pritzker on pardons "data-reactid =" 20 "> Prior to the launch of the recreational program, Governor JB Pritzker announced pardons for more than 11,000 cannabis offenses involving small amounts of the herb and the deletion of records in these cases.

On the other hand, the Canadian province of Quebec has raised the age for buying recreational cannabis to 21 years. All other provinces in the country have set the legal age for cannabis use to be 19 years of age to legally consume marijuana.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "If you would like to receive this news in your email inbox weekly, please subscribe https://tinyletter.com/javierhasse"data-reactid =" 22 ">To receive this summary in your email inbox weekly, please subscribe to https://tinyletter.com/javierhasse

Looking back on 2019, there are a few important events to highlight:

• The introduction of the first legal hemp crops under the new Agriculture Act in January.

• The US House of Representatives passed the SAFE Banking Act in September.

• The House Justice Committee passed the MORE Act in November.

• The MLB removes THC and CBD from the list of banned substances.

Meanwhile, stocks slumped, and all cannabis-focused ETFs traded on major US exchanges lost more than 35%.

“2019 was such a terrible year for cannabis stocks that the entire industry has to breathe a sigh of relief to continue. However, I expect individual companies to remain under pressure as many have spent too much money and the focus has shifted from expansion to profitability, ”Debra Borchardt, CEO of Green Market Report, told Benzinga.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "See also: MedMen CEO on recent layoffs: "We're in Chapter 2, where execution means profitability" "data-reactid =" 30 ">See also: MedMen CEO on recent layoffs: "We're in Chapter 2, where execution means profitability"

Cannabis stocks performed mixed. In the last five trading days – including Friday, December 27:

<p class = "canvas-atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "• Die Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) (TSE: HMMJ) fell 1.18%. "Data reactid =" 32 "> • The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) (TSE: HMMJ) declined 1.18%.

<p class = "canvas-atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "• Die ETFMG Alternative Harvest ETF (NYSE: MJ) increased by 0.18%. "data-reactid =" 33 "> • The ETFMG Alternative Harvest ETF (NYSE: MJ) gained 0.18%.

<p class = "canvas-atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "• Die AdvisorShares Pure Cannabis ETF (NYSE: YOLO) rose by 3.35%. "data-reactid =" 34 "> • The AdvisorShares Pure Cannabis ETF (NYSE: YOLO) gained 3.35%.

<p class = "canvas-atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "• Die Cannabis ETF (NYSE: THCX) fell 0.32%. "data-reactid =" 35 "> • The Cannabis ETF (NYSE: THCX) fell 0.32%.

<p class = "canvas-atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "• Die Strengthen the Seymour Cannabis ETF (NYSE: CNBS) rose by 1.01%. "data-reactid =" 36 "> • The Strengthen the Seymour Cannabis ETF (NYSE: CNBS) rose 1.01%.

<p class = "canvas-atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "• Die SPDR S & amp; P 500 ETF Trust (NYSE: SPY) closed the period by 0.03%. "data-reactid =" 37 "> • The SPDR S&P 500 ETF Trust (NYSE: SPY) ended the period up 0.03%.

More news from the week

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "PanXchange, A Denver-based provider of physical OTC stock exchanges and price reports has released its "Hemp Benchmark Price and Analysis Report" for December. "data-reactid =" 39 ">PanXchange, A Denver-based OTC provider of physical commodities exchanges and price reports published its Hemp Benchmark Pricing and Analysis Report in December.

"As a former commodity trader, I was deeply frustrated with the lack of hard data in the hemp field," said Julie Lerner, CEO at PanXchange. “Although our latest report is not comprehensive, it is an important step in the right direction. We hope that there will be a productive, industry-wide discussion about supply and demand for deal flow, rather than forecasted sales values, some of which may be supported by incredibly optimistic forecasts for CBD. "

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "MediPharm Labs Corp. (TSX: LABS) (OTC: MEDIF) said its subsidiary, MediPharm Labs Inc., received a license change from Health Canada to begin production in the newly expanded area of ​​its Barrie, Ontario manufacturing facility. With this change, the area of ​​MediPharm's licensed facility will be increased threefold to a total of around 25,000 square meters, so that the production space for cannabis operations can be used more efficiently. "Data reactid =" 41 ">MediPharm Labs Corp. (TSX: LABS) (OTC: MEDIF) announced that its subsidiary, MediPharm Labs Inc., has received a license change from Health Canada to begin production in the newly expanded area of ​​its Barrie, Ontario manufacturing facility. With this change, the area of ​​MediPharm's licensed facility will be tripled to a total of around 25,000 square meters, making the cannabis surgery production area more efficient.

Pablo Zuanic, analyst at Cantor Fitzgerald, issued a note arguing that beverages, due to their "lure through" experience and ceremony "and smoke-free, could captivate most newcomers to the cannabis industry.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "The analyst repeated an overweighting of Aurora cannabis (NYSE: ACB), lowering its price target from CA $ 5.85 (CA $ 4.50) to CA $ 5 (CA $ 3.85). "data-reactid =" 43 "> The analyst repeated an overweight rating for Aurora cannabis (NYSE: ACB) and lowered its target price from CA $ 5.85 (CA $ 4.50) to CA $ 5 (CA $ 3.85).

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "See also: NatGeo's Jason Silva on cannabis, psychology and the psychedelic renaissance "data-reactid =" 44 ">See also: Jason Silva from NatGeo on cannabis, psychology and the psychedelic renaissance

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Nextleaf Solutions Ltd (CSE: OILS) (OTC: OILFF) announced that the Canadian Intellectual Property Office has granted the company a patent for its proprietary filtration stack, which is used for post-extraction of THC and CBD oils. This new license granted the company 11 patents from four global patent offices in Australia, Canada, Colombia and the United States. "Data reactid =" 45 ">Nextleaf Solutions Ltd (CSE: OILS) (OTC: OILFF) announced that the Canadian Intellectual Property Office has granted the company a patent for its proprietary filtration stack, which is used for post-extraction processing of THC and CBD oils. This new license granted the company 11 patents from four global patent offices in Australia, Canada, Colombia and the United States.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Innovative Industrial Properties, Inc. (NYSE: IIPR) has appointed Mary Allis Curran to the Board of Directors. "data-reactid =" 50 ">Innovative Industrial Properties, Inc. (NYSE: IIPR) announced that Mary Allis Curran has been appointed to the board.

<p class = "Canvas-Atom Canvas-Text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Cannabis-focused investment company Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) released its fourth quarter financial results with retail and wholesale sales of CA $ 644,000 (CA $ 495,532). "data-reactid =" 51 "> Cannabis-focused investment company Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) had retail and wholesale sales of CA $ 644,000 ($ 495,532) in the fourth quarter.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Green Thumb Industries (CSE: GTII) (OTC: GTBIF) announced that it will open its 39th location, Rise Lakewood. It is the fifth store that the company will open this month. This is the city's first cannabis retail store and the fourth Rise store in Ohio. "Data reactid =" 52 ">Green Thumb Industries (CSE: GTII) (OTC: GTBIF) announced that it will open its 39th location, Rise Lakewood. It is the fifth store that the company will open this month. This is the city's first cannabis retail store and the fourth Rise store in Ohio.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "HEXO Corp. (TSX: HEXO) (NYSE: HEXO) completed its previously announced registered direct offering with institutional investors and sold 14.97 million common shares at a price of $ 1.67 per share. The offer generated gross proceeds of $ 25 million from the offer before fees and other costs related to the offer were deducted. "Data reactid =" 53 ">HEXO Corp. (TSX: HEXO) (NYSE: HEXO) closed its previously announced registered direct offering with institutional investors and sold 14.97 million common shares at a price of $ 1.67 per share. The offer generated gross proceeds of $ 25 million from this offer before fees and other offer costs were deducted.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "CannaRoyalty Corp.(CSE: OH) (OTC: ORHOF), which operates as Origin House, announced that its shareholders have approved a plan with which they want to reach an agreement Cresco Labs Inc(OTC: CRLBF), through which Cresco will purchase all issued and outstanding shares of Origin House. "data-reactid =" 54 ">CannaRoyalty Corp.(CSE: OH) (OTC: ORHOF), which operates as Origin House, announced that its shareholders have approved a plan to be reached with an agreement Cresco Labs Inc (OTC: CRLBF), through which Cresco will purchase all of the issued and outstanding shares of Origin House.

<p class = "canvas-atom canvas-text MB (1.0em) MB (0) – SM MT (0.8em) – SM" type = "text" content = "multi-state operator Crop health & amp; Recreation Inc (OTC: HRVSF) agreed to purchase a 32,000 square meter Subruban acreage in Las Vegas from the management platform located in Cheyenne, Nevada MJardin Group Inc (OTC: MJARF), at a price of $ 35 million. "data-reactid =" 55 "> multistate operator Harvest Health & Recreation Inc (OTC: HRVSF) has agreed to purchase a 32,000 square meter Subruban facility in Las Vegas from the management platform located in Cheyenne, Nevada MJardin Group Inc (OTC: MJARF) at a price of $ 35 million.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Green Leaf Innovations Inc (OTC: GRLF) announced the appointment of Joy A. Strand, former top regulator of the medical marijuana industry in Maryland, as Executive Vice President. "Data reactid =" 56 ">Green Leaf Innovations Inc (OTC: GRLF) announced the appointment of Joy A. Strand, the former top regulatory agency for the medical marijuana industry in Maryland, as Executive Vice President.

"She is responsible for coordinating the company's government efforts in several states," said Kevin Goldberg, president and general counsel of Green Leaf, for all aspects of our business. "

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Tilray, Inc. (NASDAQ: TLRY) signed a strategic agreement with Canndoc Ltd., a subsidiary of InterCure Ltd. (TASE: INCR), through its 100% subsidiary Tilray Portugal Unipessoal Lda., To export medical marijuana from Portugal to Israel. "Data reactid =" 58 ">Tilray, Inc. (NASDAQ: TLRY) signed a strategic agreement with Canndoc Ltd., a subsidiary of InterCure Ltd. (TASE: INCR) through their wholly owned subsidiary Tilray Portugal Unipessoal Lda. For the export of medical marijuana from Portugal to Israel.

According to the agreement, the amount of medical cannabis has been set at 2.5 tons and the delivery should reach Israel in early January.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Core One Labs Inc. (CSE: COOL) (OTC: CLABF) said its subsidiary, Core Isogenics Inc., has completed its second and third ongoing crops at the Adelanto facility. "data-reactid =" 60 ">Core One Labs Inc. (CSE: COOL) (OTC: CLABF) announced that its subsidiary Core Isogenics Inc. has completed the second and third ongoing crops in Adelanto.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "See also: What does the Instagram ban on vaping influencers mean for cannabis? "data-reactid =" 61 ">See also: What does the Instagram ban on vaping influencers mean for cannabis?

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Isracann Biosciences Inc. (CSE: IPOT) (OTC: ISCNF) concluded a Memorandum of Understanding for a preliminary distribution agreement with an undisclosed company for legal European cannabis markets. "data-reactid =" 62 ">Isracann Biosciences Inc. (CSE: IPOT) (OTC: ISCNF) has signed a Memorandum of Understanding for a preliminary distribution agreement with an undisclosed company for legal European cannabis markets.

Top stories of the week

Check out the top Benzinga cannabis stories this week:

  • Investigation of the cannabis sexual wellness market
  • Emily Paxhia, co-founder of Poseidon, on the 2020 cannabis hedge fund's investment criteria
  • New cannabis products: seasonal drinks, limited editions and more
  • 4 forecasts for the cannabis industry in 2020
  • Get a grip on CBD enthusiasm with CrossFit Legend Mat Fraser
  • Benzinga's most read stories from 2019
  • SeekingAlpha Cannabis Podcast: Javier Hasse from Benzinga and Rena Sherbill discuss together about cannabis investments and much more
  • We visited the "Higher Standards" store in Atlanta to see the Keith Haring Cannabis Collection
  • Cannabis technology accelerates access to consumer and medical research
  • Medical Marijuana Vs. Chronic pain: two video testimonials
  • Pete Buttigieg says detention is not the answer to drug possession

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Check out this and many other cannabis stories at Benzinga.com/cannabis"data-reactid =" 77 ">Check out this and many other cannabis stories at Benzinga.com/cannabis

calendar of events

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "January 9th – 11th: The elevator & Co. Cannabis Business Conference (LCBC) and Expo brings together the country's top thought leaders and brands for insightful conversations about emerging Canadian and global cannabis markets. Highlights of this year include a keynote on Thursday with the world's largest data and technology companies, EY Canada and Nielsen, which are part of Lift & amp; Co. to treat data intelligence and how this knowledge can be applied to the cannabis industry. During the two days of the fair, over 280 exhibitors will fill the Vancouver Convention Center, with the focus this year on cannabis 2.0 products that have only just hit stores. "Data-reactid =" 79 "> January 9th – 11th: The Lift & Co. Cannabis Business Conference (LCBC) and Expo brings together the country's top thought leaders and brands for insightful conversations about emerging Canadian and global cannabis markets. Highlights this year include a keynote on Thursday with the world's largest data and technology companies EY Canada and Nielsen joining Lift & Co. to look at data intelligence and explain how these insights can be applied to the cannabis industry , During the two days of the fair, over 280 exhibitors will fill the Vancouver Convention Center, with the focus this year on cannabis 2.0 products that have only just hit the stores.

<p class = "Canvas-Atom-Canvas-Text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "February 24th – 25th: The most important Collection of cannabis entrepreneurs and investors in North America Benzinga Cannabis Capital Conference, will travel to Miami for the sixth installment in 2020. The conference, held at Fontainebleau Miami Beach, provides attendees with an ideal setting to learn from individuals and experts how to advance the cannabis space when regulations, legalizations, and changes are made in the industry. "Data-reactid =" 80 "> February 24th – 25th: The most important meeting of cannabis entrepreneurs and investors in North America Benzinga Cannabis Capital Conference, will travel to Miami for the sixth installment in 2020. The conference, held at Fontainebleau Miami Beach, provides attendees with an ideal setting to learn from individuals and experts how to advance the cannabis space amid regulations, legalization, and changes in the industry.

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "March 13th – 22nd: SXSW leaves Austin in Austin Bord, Texas, once again, with his sophomore year with a CannaBusiness Track. More information can be found here. "Data-reactid =" 81 "> March 13-22: SXSW disembarks again in Austin, Texas CannaBusiness Track. You can find details here.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Main picture by Ilona Szentivanyi. Copyright: Benzinga."data-reactid =" 82 ">Main picture by Ilona Szentivanyi. Copyright: Benzinga.

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<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "© 2020 Benzinga.com. Benzinga does not offer investment advice. All rights reserved."data-reactid =" 89 ">© 2020 Benzinga.com. Benzinga does not offer investment advice. All rights reserved.