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Cannabis News Roundup: Tobacco Invests in Cannabis Brand, Arizona Surpasses $2M and More

tobacco invests in cannabis brand

Staying up-to-date on cannabis industry news is crucial whether you’re working in the space or looking for cannabis jobs. Our cannabis staffing agency would like to help you stay on top of the cannabis news. Keep up with what’s going on in the industry and check out our cannabis news roundup for the highlights this week. 

Prominent Tobacco Brand Invests in Canadian Cannabis Brand

British American Tobacco (BAT), one of the world’s largest tobacco companies, is investing over $175 million in Organigram. About one month ago, BAT’s Chief Marketing Officer, Kingsley Wheaton, referred to CBD as a thrilling new area for the future of the company. Now, they are the largest shareholder of Organigram. Our cannabis staffing agency is curious to see whether or not other tobacco companies will invest in cannabis and/or CBD. Read the full article here

Cannabis Taxes in Arizona Already Surpassed $2 Million

Arizona is pulling huge tax revenue numbers for cannabis sales only two months after adult-use cannabis legalization. With more cannabis jobs and businesses popping up, Arizona is looking greener than ever. According to the Arizona Department of Revenue, there’s been $1.3 million in taxes for medical cannabis and over $226,000 in taxes for recreational cannabis. Check out the full cannabis news story here

California Provides $15 Million to Cannabis Social Equity Programs

The Golden State granted $150 million across 10 cities and counties that are part of social equity programs. The cities include Oakland, San Francisco, Los Angeles, and Sacramento. Furthermore, around $11.5 million will be given to social equity entrepreneurs through low or no-interest loans or grants. Social equity and social justice reform in cannabis are critical, and this is a good step in the right direction. Check out the entire article on Benzinga

Veterans Treat PTSD with Cannabis

The first-ever legal clinical trial for the use of cannabis to treat PTSD happened. One of the significant takeaways from the study is that veterans dealing with PTSD benefited from the use of cannabis in self-managed doses without any side effects–at least in a short period. Seeing as how many veterans already use cannabis to treat PTSD, this study makes perfect sense. Read the entire article here on Cannabis Culture

Florida’s Cannabis Market is Set to do Big Things

There are 22 Medical Marijuana Treatment Centers (MMTCs) in Florida. Each of them owns a vertically-integrated license. Additionally, five laboratories have licenses to perform third-party testing of medical cannabis. Not to mention, the medical cannabis license allows each MMTC to build out a large of a footprint as possible to prepare for recreational cannabis legalization. And as of December 2020, Florida has over 450,000 qualified cannabis patients, which is increasing by around 3,000 every week.

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