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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:

• An update on federal cannabis scheduling

• The ups and downs of the New York legal cannabis market

• Cookies suspension in Maryland

…and more. Let’s get to it.

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🚨 Roll Call

Policy

Cannabis scheduling decision coming soon. Secretary Xavier Becerra, head of the U.S. Department of Health and Human Services (HHS), informed Marijuana Moment on Thursday that he aims to present President Joe Biden with a federal cannabis scheduling decision “this year” as government agencies work to complete an administrative review.

This process was initiated in October of last year at the direction of the President.

Policy

New York cannabis rollout and fallout. The legal cannabis market in New York continues to be a roller coaster ride, but a lot of movement took place this week.

• Central New York’s first legal dispensary is set to open today in Syracuse. The region had been stalled by an injunction that was finally lifted in March.

• The first set of adult-use retail licenses in the Finger Lakes region was granted approval, after the area was cleared for licensing last month.

• An inaugural member of the Cannabis Control Board, Reuben McDaniel, resigned from his position.

Business

That's the way the Cookies crumbles. Less than a week after opening, and only a few weeks before the long-awaited start of recreational sales on July 1, the Maryland Cannabis Administration suspended the license of Cookies dispensary in the Federal Hill neighborhood of Baltimore. The international cannabis brand is alleged to have violated a number of state cannabis regulations. The investigative findings stem from investigators conducting an unannounced inspection prior to the grand opening.

🇺🇸 State of the Industry

Alabama: The Alabama Medical Cannabis Commission awarded an initial batch of 21 licenses to cultivators, processors, dispensaries, transporters, and testing labs from a pool of 90 applicants for the state’s budding medical cannabis industry.

Connecticut: Data from the Department of Consumer Protection shows combined sales for adult-use and medical cannabis totaled nearly $23 million for the month of May.

New Mexico: The Cannabis Control Division launched the "Yes & Know" campaign — built around the phrase "Yes — cannabis is legal. Know — the rules." — to educate people about responsible recreational cannabis use.

Rhode Island: Over 23,000 cannabis possession convictions have been expunged in just over a year since adult-use cannabis was legalized.

🤝 Deals

CULTA makes moves in Maryland market

The craft cannabis producer is purchasing two female-owned dispensaries, Greenhouse Wellness and Kannavis.

Schwazze acquires assets in New Mexico

The vertically integrated cannabis company is acquiring Everest Apothecary, including 14 retail dispensaries, one cultivation facility, and one manufacturing plant. The deal will bring Schwazze’s total New Mexico operations to 32 dispensaries, four cultivations, two manufacturing spaces, and over 400 employees.

TerrAscend takes a top Maryland dispensary

The North American cannabis operator is buying Peninsula Alternative Health, one of the highest performing medical dispensaries in the state.

💻 Tech

New Frontier Data and Treez join forces

The business intelligence firm and POS company are teaming up to give dispensary clients enhanced data insights for new customer acquisition.

🏆 Awards & Honors

Best Places to Work in Fintech 2023 (American Banker): Cannabis FinTech Green Check Verified was included on the list of 50 firms for the second consecutive year.

💨 Quick Hitters

• Lua Brewing in Des Moines introduced Iowa’s first cannabis-infused beverage, Climbing Kites.

• Consumption lounges in Las Vegas are experiencing delays in opening that could last months.

📚 What We’re Reading

• J. Alphonse Nicholson and Jalen Rose talk music, acting & pot (New York Post)

• One of America’s richest self-made women quit her job to cook edibles—now her net worth is $225 million (CNBC)

• Oregon Town’s Marijuana Boom Yields Envy in Idaho (The New York Times)

📼 Video of the Week

🔎 Job Board

• Event Coordinator

  • Dutchie

  • $55,000—$75,000

• Account Manager

  • Terrayn

  • $52,000—$65,000

• Corporate Sales Representative

  • Solar Cannabis Co.

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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