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Tilray Seeks to Buy $211 Million of HEXO Debt and Form Strategic Partnership

Tilray Seeks to Buy $211 Million of HEXO Debt and Form Strategic Partnership

 Tilray Brands, Inc., a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today announced proposed agreements for a commercial and financial partnership with HEXO Corp. that would bring together Canada’s top two cannabis market share leaders, strengthening their respective positions and setting the stage for increased production efficiencies amid competitive market dynamics. Under the terms of the proposed agreement, Tilray Brands would acquire up to US$211 million of senior secured convertible notes that were issued by HEXO and are currently held by funds affiliated with HT Investments MA LLC. The Notes would be amended to permit Tilray Brands to exercise conversion rights at a price of C$0.90 per HEXO Share and acquire a significant equity ownership position in HEXO, driving meaningful, additional upside and direct participation in HEXO’s considerable growth opportunities.

Published Ncv Newswire, New Cannabis Ventures, 03/03/2022 07:44:00

Open article: https://www.newcannabisventures.com/tilray-seeks-to-buy-211-million-of-hexo-debt-and-form-strategic-partnership/

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Missouri Lawmakers Demand Biden Act On Marijuana And Address ‘Racist Double Standard’ That Kept Sha’Carri Richardson From Olympics

Missouri Lawmakers Demand Biden Act On Marijuana And Address ‘Racist Double Standard’ That Kept Sha’Carri Richardson From Olympics

A pair of Missouri lawmakers on Tuesday filed resolutions urging President Joe Biden to end marijuana criminalization, provide executive relief to those caught up in the drug war and condemn what some view as racial disparities in how athletic organizations apply drug-testing standards. Missouri has become a hotbed for cannabis policy reform efforts in recent weeks, with lawmakers introducing proposals to legalize marijuana at the state level while activists continue to work to put the reform on the state’s 2022 ballot. nAs those broader policy proposals move through the process, Rep. Dottie Bailey (R) has put forward a resolution that condemns the decision by international sports associations to ban U.S. sprinter Sha’Carri Richardson from participating in last year’s Olympics after testing positive for marijuana while this year allowing a Russian skater to compete despite testing positive for a banned performance-enhancing drug. Richardson herself said she felt the decision-making in the separate cases spoke to a racial double standard. And Bailey’s resolution agreed that “this double standard is indicative of extreme anti-American and racial bias.” The measure calls on Biden to “end the domestic prohibition against marijuana, support our American athletes, and condemn the racist double standard that kept an American Olympic qualifier from competition for marijuana use.” It further calls on the House clerk to prepare the resolution to be sent to the president and congressional leaders upon passage.

Kyle Jaeger, Marijuana Moment, 03/02/2022 10:50:00

Open article: https://www.marijuanamoment.net/missouri-lawmakers-demand-biden-act-on-marijuana-and-address-racist-double-standard-that-kept-shacarri-richardson-from-olympics/

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Rhode Island Lawmakers Unveil Marijuana Legalization Bill After Months Of Negotiations

Rhode Island Lawmakers Unveil Marijuana Legalization Bill After Months Of Negotiations

Rhode Island lawmakers from both chambers on Tuesday unveiled a much-anticipated bill to legalize marijuana in the Ocean State—a move that comes about a month after Gov. Dan McKee (D) included a proposal to end cannabis prohibition as part of his annual budget plan. Sen. Joshua Miller (D) and Rep. Scott Slater (D) introduced the new legislation, which would create a system of licensed businesses to produce and sell cannabis while allowing adults 21 and older to purchase and possess up to an ounce. They could also grow up to six plants at home, three of which could be mature. The allowable possession limit for marijuana stored in a given household would be maxed out at 10 ounces. Key Rhode Island lawmakers have said for months that they were nearing a deal on the legalization measure and have been working since last year to reconcile competing proposals that have previously been brought forward by the House, Senate, and governor’s office. One of the key provisions that have divided legislators concerns whether the adult-use market should be regulated by an existing agency or a newly created body.

Kyle Jaeger, Marijuana Moment, 03/01/2022 16:00:00

Open article: https://www.marijuanamoment.net/rhode-island-lawmakers-unveil-marijuana-legalization-bill-after-months-of-negotiations/

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South Dakota Lawmakers Revive Marijuana Legalization Bill In ‘Smoke Out’ Vote A Day After Committee Defeat

South Dakota Lawmakers Revive Marijuana Legalization Bill In ‘Smoke Out’ Vote A Day After Committee Defeat

A coalition of South Dakota House lawmakers on Tuesday agreed to revive a bill to legalize marijuana one day after a committee soundly defeated it, using a legislative maneuver known as a “smoke out” to bring the legislation to the floor. The Senate passed SB 3 last week, but it seemed all but certain that it would no longer advance following a defeat in the House State Affairs Committee on Monday. Activists didn’t give up the fight, however, and rallied 24 members of the House to bring the issue to the floor despite the committee setback. House Speaker Spencer Gosch (R) requested that members wishing to revive the legalization bill stand up. When enough members stood, he quipped that “we just smoked out a weed bill.” South Dakota voters already approved legalization during the 2020 election, but the reform was struck down by the state Supreme Court following a challenge from the governor’s office. While activists are still holding out hope that the reform can be enacted legislatively, they’re keeping the option open to go to the ballot again this November if lawmakers fail to act. “This is an encouraging outcome today,” Matthew Schweich, director of South Dakotans for Better Marijuana Laws (SDBML), told Marijuana Moment. “It’s clear that members of the South Dakota House of Representatives are listening to their constituents who are demanding that the will of the people be restored.”

Kyle Jaeger, Marijuana Moment, 03/01/2022 15:51:00

Open article: https://www.marijuanamoment.net/south-dakota-lawmakers-revive-marijuana-legalization-bill-in-smoke-out-vote-a-day-after-committee-defeat/

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Marijuana And Civil Rights Groups Demand Legalization Vote On House Floor This Month

Marijuana And Civil Rights Groups Demand Legalization Vote On House Floor This Month

A coalition of marijuana and civil rights reform groups sent a letter to House leadership on Tuesday, urging them to schedule a floor vote on a bill to federally legalize marijuana and promote social equity this month. The Marijuana Justice Coalition (MJC)—comprised of more than 20 advocacy organizations such as the American Civil Liberties Union, National Urban League, Human Rights Watch, and more—says reform is long overdue and that further delaying the vote will mean continued incarceration of people over cannabis. They’re specifically calling for a floor vote on the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act, which is sponsored by Judiciary Committee Chairman Jerrold Nadler (D-NY). The bill passed the full House in a historic vote the last session, and it cleared the sponsor’s panel again in September but has not advanced since then. “Given that nearly every minute one person in this country is arrested for a minor marijuana crime, the public deserves to know if members of the 117th Congress stand on the side of justice and against the outdated and cruel policy of prohibition and criminalization of marijuana,” the letter to House Speaker Nancy Pelosi (D-CA) and House Majority Leader Steny Hoyer (D-MD) states.

Kyle Jaeger, Marijuana Moment, 03/01/2022 10:52:00

Open article: https://www.marijuanamoment.net/marijuana-and-civil-rights-groups-demand-legalization-vote-on-house-floor-this-month/

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Pennsylvania Senate Committee Weighs Cannabis Mistakes, Successes Elsewhere

Pennsylvania Senate Committee Weighs Cannabis Mistakes, Successes Elsewhere

If other states already made mistakes, then Pennsylvania does not have to repeat them. That was the tone among state lawmakers during a Senate Law & Justice Committee hearing Feb. 28 to discuss implementing an adult-use cannabis program in Pennsylvania. The hearing was the second in a series on the issue that kicked off last month when the committee became the first legislative body in Pennsylvania’s General Assembly to begin planning for legalization beyond the state’s current medical program. This week’s hearing included testimonies from individuals who played active roles in legalization efforts elsewhere, such as California, Illinois, Massachusetts, and New York. Sen. Mike Regan, the committee’s chair and a former law enforcement officer who represents part of Cumberland and York counties, said Monday that there has been demand from many of his colleagues in both the Senate and the House that any adult-use legislation needs to be comprehensive and include best practices from other states.

Julie A. Werner-Simon, Cannabis Business Times, 03/01/2022 15:51:00

Open article: http://www.cannabisbusinesstimes.com/article/pa-senate-committee-weighs-mistakes-successes-elsewhere

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