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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:

• First NBA and WNBA teams sponsored by CBD brand

• European Union responds to cannabis initiative

• Aurora acquires Australian cannabis company

…and more. Let’s get to it.

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🚨 Roll Call

Business

From CBA to CBD. The NBA’s Brooklyn Nets and the WNBA’s New York Liberty became the first American professional basketball teams to be sponsored by a CBD brand when they signed a multiyear deal with MYND Drinks.

The move comes on the heels of the National Basketball Association and the National Basketball Players Association signing a new Collective Bargaining Agreement last year, which allows players to invest in and promote cannabis companies. 

MYND previously partnered with the MLB’s Chicago Cubs, making them the first CBD partner of an American professional baseball team as well.

Policy

Commission on cannabis. Officials from the European Commission, the EU’s politically independent executive arm, have decided to partially authorize a European Citizens' Initiative (ECI) entitled ‘European Cannabis Initiative'. The goal of the initiative is to broaden access to medical cannabis and give proper resources to researching it.

The following components called upon by organizers have been approved:

• foster access to medical cannabis and allow the transportation of cannabis and its derivatives prescribed for therapeutic purposes to ensure the full enjoyment of the right to health; and

• allocate the necessary resources for researching cannabis for its therapeutic purposes.

The next steps give organizers six months to open the signature collection. If a European Citizens' Initiative receives one million statements of support within one year from at least seven different countries within the EU, the Commission must respond to it.

Business

Aurora Aurora Aurora, Oi Oi Oi. Canadian cannabis giant Aurora Cannabis has acquired Australian cannabis company MedReleaf Australia. With the purchase, Aurora becomes the largest global medical cannabis company operating in nationally legal markets.

Last year, Aurora also expanded its medical cannabis portfolio to Germany and Brazil.

🇺🇸 State of the Industry

Hawaii: Legalization of recreational cannabis remains a priority for legislators.

North Carolina: A recent poll found a majority of North Carolinians (78%) support legalizing medical cannabis.

Pennsylvania: Governor Josh Shapiro is calling on lawmakers to legalize adult-use cannabis.

📊 Business

Planet 13 sues Casa Verde

The cannabis multi-state operator and mega-retailer filed a $16.5 million fraud lawsuit against the prominent cannabis investment firm.

💻 Tech

Neatleaf nabs $4 million in funding

The cultivation management platform raised the capital led by AgFunder, one of the world's most active foodtech and agtech investors, to fulfill demand for AI-driven cultivation technology including its flagship Neatleaf Spyder product, a fully autonomous robotic platform that scans indoor crops generating millions of data points on plant health and growth metrics.

springbig secures $8 million in debt financing

The SaaS-based loyalty and marketing solutions provider announced the issuance of $6.4 million of convertible notes and a $1.6 million term loan due 2026.

🌏 Around the World

Malta: The first fully operational cannabis association if officially open, with strong turnout reported during the opening days.

💨 Quick Hitters

• Blink-182 drummer Travis Barker launched a line of cannabis products.

• A new Michigan music venue called Field of Greens plans to allow the sale and consumption of both cannabis and alcohol.

• Jones Soda is partnering with Tilray Brands to bring its Mary Jones cannabis beverages to Canada.

📚 What We’re Reading

• Where things stand: a summary of pending federal cannabis legislation (Reuters)

• Mammals With the Munchies: Curing Animals With Cannabis (The New York Times)

• OG Cannabis Cafe, L.A.’s first pub for pot people, blazes back after a 4-year hiatus (Los Angeles Times)

🎙️ Potcasts

• An Unvarnished Look At New York + California Cannabis Markets (The Cannabis Investing Podcast)

• Cookies: The Only Global Cannabis Brand Ft. Crystal Millican (The Dime Podcast)

📼 Video of the Week

🔎 Job Board

• Risk & Compliance Specialist

  • LeafLink

  • $70,000—$100,000

• Cannabis Sales Manager

  • Credit Union 1

  • $75,000—$95,000

• Demand Generation Manager

  • Flowhub

  • $75,000—$95,000

📨 Puff, Puff, Pass Reeferal Program

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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