🌿 AAA examines cannabis-impaired driving, Wana brings cannabis beverages to big box, and additional cannabis companies report 2024 financial results

Happy Friday Pre Rollers! Welcome to another edition of The Pre Roll, the cannabis newsletter that keeps you up-to-date on the industry happenings you need to know.

Here’s what we’re rolling up this week:

• AAA examines cannabis-impaired driving

• Wana brings cannabis beverages to big box

• Additional cannabis companies report 2024 financial results

…and more. Let’s get to it.

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🚨 ROLL CALL

Policy

Under the influence. New research from the American Automobile Association, commonly known as AAA, explored cannabis-impaired driving and messaging strategies to promote safer choices.

The AAA Foundation for Traffic Safety conducted two separate but complementary studies.

The first was a set of surveys — developed with input from a panel of public health, law enforcement, traffic safety, and cannabis subject matter experts — that looked at cannabis consumers’ behaviors and perceptions of themselves. Results revealed:

• Nearly 85% of respondents drive the same day they consume cannabis, while 53% do so within an hour of consumption.

• A staggering over 80% of drivers believe the drive the same, a little better, or much better after consuming cannabis.

The second was a project focused on the types of messaging on impaired driving most resonated with participants. Preferences were found for:

• Messages that highlighted personal responsibility and safety concerns over those based on legal risks. 

• Realistic, positive, and diverse messaging that avoids exaggerated stereotypes. 

The hope is the findings from these studies can be used to create relevant and engaging public health messaging to combat cannabis-impaired driving as use increases with more widespread legalization.

Business

The Total package. Leading edibles company Wana Brands is bringing its cannabis beverages to big box locations nationwide through a relationship with mega-retailer Total Wine & More.

Wana Beverages come in 12 oz. cans in three flavor and effect combinations:

• Wana Lemonade Balance Blend (5mg CBG, 5mg CBD, 5mg THC): A tangy and refreshing lemonade striking the perfect balance between sweetness and zest.

• Wana Strawberry Lemonade Balance Blend (10mg CBG, 10mg CBD, 10mg THC): A sweet and summery concoction of juicy strawberries and tart lemonade.

• Wana Raspberry Tea Relax Blend (5mg CBG, 5mg CBD, 5mg THC): A rich, refreshing raspberry iced tea with deep fruity sweetness and earthy undertones.

Can artwork was designed in collaboration with visionary illustrator Beto Val.

Business

As a result. Financial results from a handful of prominent plant-touching and ancillary cannabis companies for the fourth quarter and full year of 2024 were released this week, with mixed outcomes. Click on any business below for further detailed information.

A number of other results were reported in previous weeks including: AYR Wellness, Cronos Group, Curaleaf, Green Thumb Industries, High Tide, Innovative Industrial Properties, Jushi, MariMed, TerrAscend, Trulieve, Verano, Vireo Growth.

🇺🇸 STATE OF THE INDUSTRY

Idaho: The House passed a resolution that would give the Legislature sole authority to legalize cannabis; to become law it would require a majority vote through a ballot initiative.

Kentucky: Lawmakers introduced a bill to regulate THC-infused beverages; a temporary or permanent ban remains a possibility.

Maine: Legislators filed a bill to ban all forms of marketing and advertising for cannabis with three exceptions: a company website, business directories, and on-premise signs at dispensaries.

Ohio: The state plans to withhold close to $11 million in cannabis tax revenue due to municipalities because of a legal language technicality.

Texas: A proposed bill aims to expand access to the state’s medical cannabis program.

💼 BUSINESS

Talaria Transportation takes The Garden State

The nation’s largest cannabis logistics provider is expanding into New Jersey to provide wholesale distribution and marketplace services; it currently offers secure and compliant transportation, distribution, and cash management solutions across 30 states.

🏆 AWARDS & HONORS

Female Founders 500 (Inc.): Joanne Jacobson, founder of cannabis brand Rove, was included on the eight annual list of women entrepreneurs making significant waves in business.

🌏 AROUND THE WORLD

Australia: An estimate from the Parliamentary Budget Office suggests total tax revenue from cannabis could reach over $700 million per year within 3 years of implementing a regulated market.

Switzerland: Initial results show the country’s cannabis pilot trials are “proceeding smoothly” with “no indications of any public disturbances.”

💨 QUICK HITTERS

• Michigan-based cannabis brand Pleasantrees launched a limited-edition baseball-themed tin of pre-rolls to celebrate the 125th season of the Detroit Tigers.

• Illinois dispensary chain Ivy Hall and the Chicago location of multi-state pizza company Paulie Gee's are crafting the world’s largest cannabis-infused pizza today for Pi Day.

• West Virginia head football coach Rich Rodriguez shared his thoughts on cannabis use by student-athletes now that it is no longer on the NCAA banned substance list.

📚 WHAT WE’RE READING

• The Rise and Fall of the ‘Napa Valley of Cannabis’ (Wall Street Journal)

• US weed companies got leaner in 2024. The only thing investors care about is cannabis reform. (Sherwood News)

• THC Beverages Are On The Rise—What Experts Want You To Know (Delish)

• America's Marijuana Legalization Experiment Is Going Up in Smoke (Newsweek)

• Texas’ hemp producers and sellers say bill would cripple the industry (Texas Standard)

• The smell of weed is wreaking havoc across California (SFGATE)

• Is Minnesota’s cannabis market already in trouble? (Minnesota Star Tribune)

• ‘Bankrupt’ Delaware recreational marijuana license holders express frustration over delay in start of retail sales, zoning obstacles (WHYY)

• San Diego considers raising cannabis business tax — and possibly losing money (KPBS)

• The Green Door won't serve alcohol. But THC, mushroom, CBD mocktails will be on the menu. (Cincinnati Enquirer)

🎙️ POTCASTS

• Jason Wild & Ziad Ghanem Break Down TerrAscend’s 2024 Growth & Future Plans (Higher Exchanges)

🔎 JOB BOARD

• Senior Product Manager - Analytics and Reporting

  • Flowhub

  • $130,000—$170,000

• Director of Marketing

  • Clear Cannabis

  • $115,000—$130,000

• Cannabis Cultivation Veg Manager

  • 4Front Ventures

  • $60,000—$70,000

📨 PUFF, PUFF, PASS REEFERAL PROGRAM

📣 PROMOTE YOUR BUSINESS OR BRAND IN THE PRE ROLL

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Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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