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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.

According to a new Gallup survey, the U.S. has reached a notable milestone as 50% of American adults say they have tried cannabis at some point.

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

• Cannabis companies reveal Q2 financial results

• Germany makes moves on cannabis legalization

• Cannabis inclusion on the 2023 Inc. 5000

…and more. Let’s get to it.

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🚨 Roll Call

Business

Halftime scores. Financial results for the second quarter have been disclosed by cannabis companies, with mixed results. Click on any of the listed companies for further detailed information.

Policy

Cannabis bitte. The cabinet in Germany, Europe’s largest economy, passed a bill on Wednesday to legalize the use and cultivation of recreational cannabis.

Key components of the regulations:

• Adults can grow up to three cannabis plants for their own consumption.

• Possession of up to 25 grams of cannabis is permitted.

• Nonprofit cultivation associations, or cannabis clubs, are allowed a maximum of 500 members (must be adults and reside in Germany)

• There is a limit on distribution to adolescents between the ages of 18 and 21.

The bill still must pass parliament to formally become law.

Business

Bucket list. A number of cannabis and ancillary companies were included on the 2023 Inc. 5000, an annual list of America’s fastest-growing private companies. Here are the companies that made the cut, in order of ranking (Note: only those with ‘cannabis’ or a related term in their submission are shown below):

🇺🇸 State of the Industry

Michigan: Cannabis sales exceeded $275 million in July, with adult-use topping $270 million.

Missouri: More than 1,600 applications were submitted for the 48 available microbusiness licenses — 16 dispensaries and 32 wholesale growers and manufacturers — that will be announced in October.

New Hampshire: Governor Chris Sununu signed a bill creating a commission to study cannabis legalization and the prospect of sales going through state-run stores.

New York: An injunction blocking the Office of Cannabis Management (OCM) from issuing and approving new retail licenses was extended last Friday for at least two more weeks, but the judge urged the sides to come to a settlement before the next hearing.

Ohio: Recreational cannabis legalization will officially be on the ballot in November, putting the issue before voters.

📊 Business

GTI’s Rise Dispensaries debuts new brand look

The retail chain owned by multi-state operator Green Thumb Industries unveiled its refreshed brand identity and store designs, developed by global design firm Turner Duckworth and creative agency Brand Bureau.

AYR Wellness bringing Kiva to Florida

The vertically integrated multi-state operator entered into a three-year, exclusive licensing and retail agreement to bring the award-winning edibles brand to the Florida market for the first time via its 62+ retail locations across the state.

💻 Tech

Leafly and Greenline POS expand partnership in Canada

The cannabis discovery marketplace and the BLAZE-owned point-of-sale released a new integration to let Leafly pickup and delivery orders seamlessly sync to the Greenline POS system, helping retailers eliminate the need to manage multiple dashboards.

💨 Quick Hitters

• A Canadian man was arrested and charged while attempting to smuggle cannabis into the United States disguised as frozen waffles.

• The Poseidon Dynamic Cannabis ETF is shutting down less than two years after launching.

• The first Cannabis Growers Showcase — essentially a farmers market for growers to sell excess product — took place in New York.

📚 What We’re Reading

• How a Global Brewing Company Explored the Cannabis Market: How Molson Coors formulated its strategy for entering the cannabis beverages business. (Harvard Business Review)

• Opinion: Marijuana is getting out of hand. The federal government must step in. (The Washington Post)

📼 Video of the Week

🗓 Upcoming Events

September 9-10: Cannifest is taking place at Halvorsen Waterfront Park in Eureka, California.

🔎 Job Board

• Account Executive

  • Flowhub

  • $60,000—$80,000 ($120,000—$160,000 OTE)

• Business Development Manager

  • Sun Gro Horticulture

• Account Executive

  • Happy Cabbage Analytics

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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