Good morning.
On month out from Election Day, Jay and Jeremy will be joined by Democratic candidate for Lt. Governor in Texas, Rep. Vikki Goodwin, to discuss hemp and THC policy in the state and how it may affect the November elections. See you there.
-JB, JR
Today’s newsletter is 889 words or about a 7-minute read.
CULTIVATED CALENDAR
October 6 » Cultivated Live with Democratic candidate for Lt. Governor in Texas, Vikki Goodwin
October 7 » Cultivated Live with Sarah Strickler, Co-Founder, Grown Rogue
October 22 » The Highrise → Check out the second in our NYC series and apply to attend. Event details coming!
November 12 » Pot Policy and Politics → The second installation of the Midwest Cannabis Forum, this time in St. Louis. Ticket discounts through October 12.
COMING EVENTS → Las Vegas & Buffalo
Stay tuned for more Fall 2026 events coming soon!
What’s the big deal?
CURA vs ACB
Curaleaf raises hostile bid for Aurora to $5 per share
Curaleaf is sweetening the pot for Aurora shareholders. On Monday, the company upped its hostile bid for Aurora from $4 to $5 per share, which it says is an 86% premium to Aurora's unaffected share price. The cash portion rises from 75 cents to $1, with the rest paid in Curaleaf stock. $ACB ( ▲ 13.78% ) $CURLF ( ▲ 1.02% )
Curaleaf also lifted its cap on total payout to $6 per share and pushed the offer deadline to December 4.
What they're saying: "Actions speak louder than words. If value was $ACB's concern, today's enhanced offer addresses it,” Curaleaf CEO Boris Jordan said on X.
“This significant step reflects our conviction in the transaction and good-faith efforts to finally bring Aurora to the table.”
Why it matters: At the heart of the bid is Aurora's EU-GMP certified production facility. It's Curaleaf's best ticket into Germany and broader Europe's booming medical market, which is growing far quicker than the US.
The two companies have sniped at each other since Curaleaf launched the bid on August 18, and both have appealed to the Alberta Securities Commission.
Aurora in September asked the commission to force Curaleaf to fix its offer documents, arguing they lacked pro forma financial statements showing shareholders what the combined company would look like.
Curaleaf said on Monday its amended offer will include the financials even though it doesn't think the law requires them.
Curaleaf fired its own shot in mid-September, asking the commission to halt Aurora's at-the-market share sales because Aurora was selling stock below Curaleaf's $4 offer price.
Aurora defended the program by pointing out on social media and in press releases it launched in February, months before the bid. The commission hasn't publicly ruled on either application.
What’s next: The bid closes on December 4.
-JB
Quotable
“It’s such a weird spot to be in,” Nicholas Hohns, who runs Deutermann Farms, a North Carolina hemp company, told the AP in a big story about the looming hemp ban. “You worked 100 hours a week for the past four years, and, yeah, you made some money. But now you might have nothing to show for it.”
Quick hits
DEA says no cannabis overdose deaths have been reported
The DEA said in its updated 2026 "Drugs of Abuse" guide that no deaths from cannabis overdose have been reported, while warning about impairment and a rise in ER visits tied to edibles. The new edition also shows state-licensed medical cannabis in Schedule III and describes state medical programs more favorably than the 2024 version did.
Idaho voters could take cannabis legalization off the ballot for good
Idahoans will vote in November on House Joint Resolution 4, a constitutional amendment giving the Legislature sole power to legalize or decriminalize cannabis and other drugs. If it passes, citizens could no longer do it through a ballot initiative, a route this year's legalization campaign tried but failed to qualify for.
Virginia hemp businesses drop suit over 2mg THC cap, for now
Seven Virginia hemp businesses moved to withdraw their federal lawsuit against the state's new 2-milligram-per-package THC limit, a month and a half after a judge refused to pause the rule. They filed without prejudice, and their attorney Chap Petersen said they plan to refile but wouldn't say more about the next case.
Minnesota has just five cannabis testing licenses, regulator says
Minnesota Office of Cannabis Management director Eric Taubel told a Rochester town hall that lab capacity is still a problem for the state's medical and adult-use supply, with only five testing licenses issued. Attendees also raised concerns about local retailers skipping required labels and posted information.
Deals, launches, partnerships
Quebec craft cannabis producer Green Karat secured EU-GMP certification for its facility, opening the door to medical markets like Germany, the UK and Australia.
Canadian cannabis company Cannara Biotech expanded its international supply deal with Curaleaf to a potential C$34 million over two years. $LOVE.TSX ( ▲ 2.8% ) $CURLF ( ▲ 1.02% )
Chart of the day
Another fascinating chart from the New York Office of Cannabis Management for cannabis policy nerds. Prices in the state fell by 8% this year, but remain well above national benchmarks:
What we’re reading
Oklahoma reckons with environmental costs of marijuana industry | The Oklahoman
Marijuana and Trucking’s Drug-Testing Dilemma | Heavy Duty Trucking
Tennessee must legalize marijuana | Vanderbilt Hustler