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🌿 Uber Eats and Leafly expand partnership in Canada, Verano acquires assets in two states, and NYC shutters unlicensed shops

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: Uber Eats and Leafly expand partnership in Canada, Verano acquires assets in two states, NYC shutters unlicensed shops, and more. Let’s get to it.

Author

Alex Lipnik
August 02, 2024

together with

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:

  • Uber Eats and Leafly expand partnership in Canada

  • Verano acquires assets in two states

  • NYC shutters unlicensed shops

…and more. Let’s get to it.

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🚨 ROLL CALL
Tech

Source: Uber

Special delivery. Global technology giant Uber and cannabis marketplace Leafly are expanding their partnership in Canada. Now, residents in Alberta will be able to place orders from select licensed cannabis retailers through the Uber Eats app for delivery.

This marks the third province the service will be available in. In 2022, it launched in Ontario for Torontonians. It debuted in British Columbia in 2023.

Earlier this year, Uber disclosed lobbying on cannabis in the United States according to a filed quarterly report. All active lobbying registrants are required to file such reports with the Clerk of the U.S. House of Representatives and the Secretary of the U.S. Senate.

In particular, the company supported the Secure And Fair Enforcement Regulation (SAFER) Banking Act and the Secure and Fair Enforcement Banking (SAFE) Banking Act of 2023. Uber sees clear value in backing federal cannabis legislation, particularly as it relates to banking and payments, and the opportunities it would open up in the U.S. market. Uber has previously indicated it could get into cannabis delivery as federal laws change.

Will we see cannabis delivery through Uber in the near future in America too?

Business

Source: Verano

Acquired taste. Multi-state operator Verano has reached an agreement with fellow MSO The Cannabist Company to acquire assets in Arizona and Virginia.

“Today’s agreement further diversifies Verano’s portfolio, which, since the company’s inception, has remained focused on expanding our business into limited-license markets to scale both our wholesale and retail operations.”

George Archos, Verano Chairman and Chief Executive Officer

The deal includes the following operations:

  • Arizona: one cultivation facility, one production facility, and two dispensaries

  • Virginia: one cultivation and production facility and six dispensaries

This will bring Verano’s geographic footprint to 14 states, 15 cultivation and production facilities, and 150 dispensaries.

Policy

Source: NYC.gov

Shut down. New York City Mayor Eric Adams, along with officials from the New York City Sheriff's Office (NYCSO), New York City Police Department (NYPD), and New York City Department of Consumer and Worker Protection (DCWP), announced updates with regards to the city’s enforcement measures against unlicensed cannabis shops.

Dubbed “Operation Padlock to Protect,” the multi-agency task force has shuttered 779 stores, issued 41,502 counts of violations amounting to almost $65 million in penalties, and seized more than an estimated $41 million in illegal products.

🇺🇸 STATE OF THE INDUSTRY

Missouri: Cannabis sales reached $709 million in the first half of 2024, good for fifth in the United States behind only California, Michigan, Illinois, and Massachusetts.

New York: At least four high-ranking Office of Cannabis Management employees have resigned recently.

💼 BUSINESS

Planet 13 launches apparel and accessories brand

The vertically-integrated multi-state cannabis company created the new non-cannabis touching brand and signed its first sponsored athlete, UFC fighter Chito Vera, to promote Planet 13 Fight Club, a combat sports themed division of the Planet 13 Lifestyles brand.

🌏 AROUND THE WORLD

Philippines: The House of Representatives approved a proposed bill that would allow the use of medical cannabis for qualified patients.

💨 QUICK HITTERS
📚 WHAT WE’RE READING

  • California’s biggest weed brand is getting buried in lawsuits (SFGATE)

  • More People Are Driving on Cannabis. Law Enforcement Is Racing to Learn Who Is High. (The Wall Street Journal)

  • ‘Build the plane while we’re flying it’: Cannabis regulators ready for next phase of legalization (MPR News)

  • Cannabis company Tilray made a huge bet on craft beer. It’s already paying off. (MarketWatch)

  • With Iowa’s new hemp law taking effect, THC beverage producers launch new drinks (Iowa Capital Dispatch)

🎙️ POTCASTS

  • Mike Kennedy, Green Check: Joining The Dots, An API Financial Solution For The US Cannabis Sector (Karma Koala Podcast)

  • Jill Ellsworth: Why Are We Debating Selling Moldy Products (Cannabis Equipment News)

  • Jarrett Annenberg, SVP and Head of Investments, NewLake Capital Partners (The Green Rush)

📽️ 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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