Cannabis Briefs for September 3, 2019

•The Napa Valley Cannabis Association has withdrawn a ballot initiative to allow commercial cannabis cultivation in Napa County. The development comes after the Napa County Board of Supervisors ordered a report on the issue, a move that led the county’s Planning Department to set a timeline for creating an ordinance to allow cultivation. As a show of good faith with that process, the Napa Valley Cannabis Association said it would pull its ballot measure. One advantage of doing so is that a Board of Supervisors ordinance can always be amended in response to changing circumstances, while any ballot initiative could only be modified by future votes.

•Toronto, Ontario-based 48North Cannabis has acquired Quill, a vaporizer brand with a presence in Washington and Oregon, for $2.1 million. The acquisition marks 48North’s entry into the U.S. cannabis market. Quill specializes in disposable vape pens with a focus on health and controlled dosage. This year Quill will launch a full-spectrum hemp CBD vape pen, which will allow for interstate distribution. 48North is a vertically integrated grower whose brands include Latitude, Mother & Clone, and Avitas. It plans to launch all those brands in the U.S. market through Quill.

•Tilray has reached a definitive agreement to fully acquire Four20, a cannabis retailer headquartered in Calgary, Alberta for C$110 million ($82.5m), paid all in stock and subject to performance milestones. Four20 currently operates six retail locations in Calgary, and has a further 16 units that aren’t yet operational in Calgary, Edmonton, and other cities in Alberta. Tilray plans to leverage Four20’s knowledge and brand to expand into other Canadian provinces. The transaction should be finalized by the spring of 2020.

•Minnesota Governor Tim Walz has directed state agencies to prepare for the implementation of cannabis legalization, if and when the state legislature passes a law to that effect. “We’ll have everything ready to go, and we’ll be able to implement it the minute it’s approved by the Legislature,” he said. Although Minnesota House Majority Leader Ryan Winkler (Democratic-Farmer-Labor Party) plans to sponsor a House legalization bill, Republican Senate Majority Leader Paul Gazelka remains opposed.

•Washington State’s Liquor and Cannabis Board has drawn up draft legislation that would allow small growers to deliver cannabis directly to consumers. Washington’s current cannabis laws don’t allow for delivery. The aim of the bill is to help the smaller cannabis farmers compete against larger players. Delivery thus would be allowed only for growers with fewer than 2,000 square feet of growing space. The legislation, set to be introduced during next year’s legislative session, hasn’t yet been reviewed by Governor Jay Inslee’s office.

Tagged : 48North, cannabis, Four20, Napa Valley, Quill, Tilray

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