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- No deal on Florida hemp bill 🛑
No deal on Florida hemp bill 🛑
Plus, SNDL reports Q1 results
Good morning and happy Friday.
You’ve made it to the end of the week — we hope you’re celebrating with your favorite cannabis products. (And that’s another reminder that yes, we here at Cultivated HQ are interested in trying your products).
Plus, tune in at 10 am Eastern for This Week in Cannabis News powered by Dutchie on our LinkedIn and YouTube channels.
Let’s get to it.
-JB, JR, and ZH
This newsletter is 543 words or about a 5-minute read.
Today’s newsletter made possible by:
📣 Quotable
“We‘re in a state of emergency,” Canna Provisions founder Meg Sanders told The Boston Globe. “People want to hand over the keys.”
Sanders explained to the Boston Globe that the Massachusetts cannabis industry is struggling. Smaller operators want out, but no one is interested in buying in.
⏩ Quick hits
No deal on Florida hemp legislation before deadline 🛑
Florida's legislature is not going to be able to pass a hemp bill before the end of the 2025 session, state Rep. Michelle Salzman told Florida Politics. The House and Senate each had their own versions of bills that would regulate intoxicating hemp, but neither are in agreement over synthetic hemp products and which types of products might be covered by the new regulation.
South Carolina legislature considers legal medical cannabis 🩺
The South Carolina Senate is considering a bill that would legalize medical cannabis. If passed, patients would be able to access cannabis-derived edibles, balms and oils with a doctor's prescription. The bill is still in a Senate committee and it has until May 8 before the legislative session ends.
Ohio legislation could limit hemp products 📜
Ohio's Senate passed a bill on April 30 that would limit the sale of most hemp-derived intoxicants to a licensed cannabis dispensary. An exception to the new rules would include THC beverages which could be sold in liquor stores.
Calgary allows cannabis sales at festivals 🚀
Calgary, Alberta lawmakers amended a city bylaw to allow the sale of cannabis products at events for adults over the age of 18, CBC reports.
💰 Earnings roundup
Canadian cannabis firm SNDL reported its first-quarter results:
The company reported a $14 million net loss on $205 million of revenue, with negative free cash flow.
The company said it considering a move to delist from the NASDAQ so that the company would be able to directly manage any future acquisitions of U.S. cannabis companies.
🤝 Deals, launches, partnerships
CanadaBis nixes acquisition deal 👎
CanadaBis, parent company of Stigma Roots, Goldstream Cannabis and the INDICAtive Collection, announced that it is backing out of its planned acquisition by Simply Solventless. The deal was ended because of an unspecified "material adverse change" in Simply Solventless, that CanadaBis said left termination in the best interest of shareholders.
🏃 People moves
Amanda Reiman is the new Director of Student Experience at Green Flower, an online training and education platform for the cannabis industry.
📰 What we’re reading
Michelin-level weed? Two-starred Lazy Bear just blazed its own strain | The San Francisco Standard
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