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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.

We hope those who attended MJBizCon had a successful trip to Las Vegas!

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

• New York cannabis market on the cusp

• Canada's THC limits challenged

• MariMed faces financial troubles from fraud

…and more. Let’s get to it.

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🚨 Roll Call

Policy

Settle up. A months-long injunction in New York is close to being lifted after regulators from the Cannabis Control Board approved a settlement in a lawsuit that has kept the nascent cannabis market at a standstill. This would pave the way for more than 400 stalled dispensaries to open. The agreement terms still need a judge’s final approval to take effect.

A judge from the Supreme Court of the State of New York initially issued a temporary restraining order in August blocking the Office of Cannabis Management (OCM) from issuing and approving new retail licenses. The decision resulted from a lawsuit filed by the group of service-disabled military veterans alleging the agency’s process for prioritizing applicants violated the state’s Marihuana Regulation and Taxation Act.

A judge later ruled he will not exempt any Conditional Adult-Use Retail Dispensary (CAURD) licensees from the injunction put in place because the OCM failed to comply with a court order.

Almost a year after New York’s legal cannabis industry commenced, merely 27 dispensaries have opened statewide — 11 in NYC. That may be changing real soon. Stay tuned for more.

Policy

Oh Canada. A petition has been filed to the Government of Canada calling for an increase in the maximum THC allowed in edible cannabis products to 100mg. It has amassed more than 2,000 signatures to date.

The following justifications have been provided:

• The current limit of 10mg THC serves as a suitable starting point for newcomers, however fails to adequately cater to existing consumers;

• The legal, regulated cannabis industry is unable to compete against the illicit market; and

• THC limits are contributing to an entirely new stream of single-use plastics, contrary to this country’s plan to address pollution and prevent plastic waste.

The petition states that the change would address the above concerns, benefit consumers, and contribute to a more sustainable industry as a whole. Both the Canada Competition Bureau and the Ontario Cannabis Store have previously called upon Health Canada to increase THC limits.

Business

Fraud alert. Multi-state cannabis operator MariMed transferred nearly $650,000 to a “fraudulent recipient” after receiving a “forged email” as part of a an alleged fraud scheme. The details were included in the company’s quarterly filing with the U.S. Securities and Exchange Commission.

The company expects to recover the lost funds either from the bank or through its cybersecurity insurance policy.

🇺🇸 State of the Industry

Alabama: A third attempt to award medical cannabis licenses is underway by the Alabama Medical Cannabis Commission.

Georgia: The Georgia Access to Medical Cannabis Commission granted provisional licenses to additional producers.

Minnesota: The state's Office of Traffic Safety is trying out driver impairment tests that could help law enforcement identify high drivers.

📊 Business

Greenlane gets notice from Nasdaq

The global cannabis accessories brand received a listing deficiency notice from the NYC-based stock exchange indicating that its not currently in compliance with the required Listing Rules.

Tilray presents portfolio of new infused beverages

The global cannabis and consumer packaged goods company introduced new THC, CBG and CBD drink innovations from its renowned brands XMG and Mollo.

💻 Tech

Lucid Green partners with Planet 13

The intelligent Universal Product Code (UPC) cannabis supply chain platform inked an enterprise deal with the vertically integrated multi-state operator to implement Lucid Green's LucidIDs across Planet 13's brands and retail operations, enhancing the overall customer experience and optimizing end-to-end supply chain management .

Treez teams with Metrc

The enterprise commerce technology platform and the cannabis regulatory technology provider are working together to create the cannabis industry’s first Global Product Catalog, empowering retailers with a trusted master database to deliver consistent product information and shopping experience nationwide.

💨 Quick Hitters

• Cannabis research centers launch at the University of Minnesota School of Public Health and University of Utah Health.

• Benzinga publishes fake interview with Cookies Founder Berner and later retracts it for not meeting editorial standards.

• GRAMMY Award-winning rapper Future brings his premium cannabis brand EVOL to Michigan.

• Higher Collective dispensary debuts Connecticut’s first drive-thru cannabis service.

• Woody Harrelson opens a cocktail bar next to his LA cannabis lounge.

• Cannabis Media Council, an industry trade association, takes over adult-site Pornhub with first-of-its-kind ad placement.

📚 What We’re Reading

• How 1.2 Million Marijuana Arrests Will Shape New York’s Legal Market (The New York Times)

• USDA is giving some farmers an ultimatum: Grow hemp or marijuana (POLITICO)

• Cannabis ‘legalization is inevitable,’ says policy analyst—what to know before you invest (CNBC)

• Cannabis redraws US’s 2024 electoral map (Financial Times)

• Inside the booming business of Amish cannabis farmers in Pennsylvania where a green revolution is underway (Daily Mail)

• A Brief Global History of the War on Cannabis (MIT Press Reader)

• The Lower Sioux in Minnesota need homes — so they are building them from hemp (Grist)

📼 Video of the Week

🔎 Job Board

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Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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