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Cannabis Briefs for January 12, 2021

January 12, 2021

•Former Aurora Cannabis CEO Terry Booth is joining U.S.-based cannabis investment company Australis Capital as CEO. In a strange wrinkle, Australis was originally part of Aurora before the Canadian producer divested its interest to avoid being delisted by Canadian stock exchanges for holding cannabis investments in the U.S. However, Aurora still holds ownership warrants for Australis it could exercise in the event of U.S. federal legalization.

•Oregon cannabis sales topped $1 billion in 2020, a new record. Oregonians purchased $1.1 billion worth of cannabis last year, up from $795 million in 2019. The pandemic appeared to significantly boost sales, as revenues jumped approximately 20% in March, directly coinciding with the state’s first stay-at-home order. In May sales exceeded $100 million in a single month for the first time, and they reached an all-time high of more than $106 million in July. That puts Oregon, a state with an operational market since 2015, on par with Illinois, which began sales last January.

•Monogram, the cannabis brand backed by Jay-Z, released the first installment in a new video series called High Tales. Billed as a series that focuses on people’s relationship with cannabis and what life is like in the world of legal cannabis, the first episode features New York rapper Jadakiss. Future episodes will feature other musical artists including 2 Chainz, The Dream, and N.O.R.E. High Tales episodes are available to watch on Monogram’s website, the brand’s YouTube page, and on the streaming platform Tidal, which Jay-Z also had a hand in creating.

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