The Week In Cannabis: FDA, CDC, Delta-8 THC, WADA, Canopy, Sundial, Canada, LatAm And More

Below is a recap of the main news related to the cannabis industry and markets for the week of September 13, 2021.

FDA And CDC Issue Warnings On THC

The Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) issued warnings to consumers about the potential risks of consuming unregulated products that are advertised as containing the cannabinoid THC. 

There has generally been a lack of rules governing THC, which can be synthesized using CBD from legal hemp and is being sold in states regardless of whether they’ve legalized marijuana

According to the CDC, “Variations in product content, manufacturing practices, labeling, and potential misunderstanding of the psychoactive properties of delta-8 THC may lead to unexpected effects among consumers.”

Benzinga Cannabis’ content is now available in Spanish on El Planteo.

According to the FDA, some manufacturers may use potentially unsafe household chemicals to make delta-8 THC through a chemical synthesis process, and additional chemicals may be used to change the color of the final product. The final delta-8 THC product may contain harmful by-products (contaminants) due to the chemicals used in this process.

Neither agency proposed banning the production or sale of the cannabinoid. The CDC encouraged consumers to be aware of possible misleading labeling and said retailers should “provide information to consumers about the psychoactive qualities of delta-8 THC,” reported Marijuana Moment.

Olympic Cannabis Ban To Be Re-Examined

The World Anti-Doping Agency (WADA) intends to review the status of cannabis on its banned substance list, following last summer's exclusion of track star Sha’Carri Richardson from competing at the Tokyo Olympics after she tested positive for cannabis in her home state of Oregon, where marijuana is legal.

The scientific review will be conducted by a group that advises WADA in 2022.

“Following receipt of requests from a number of stakeholders, the (executive committee) endorsed the decision of the List Expert Advisory Group to initiate in 2022 a scientific review of the status of cannabis,” a WADA statement read. “Cannabis is currently prohibited in competition and will continue to be in 2022.”

Native American Cannabis Alliance, Everscore Creating World's Largest Cannabis Cultivation Source

The Native American Cannabis Alliance, a joint venture of Tim Houseberg, executive director of Cherokee Nation-based Native Health Matters Foundation, and Everscore signed three memoranda of understanding with indigenous farmers from the Mohawk Nation, Cheyenne and the Arapaho Tribal Nations.

The ground-breaking agreements will oversee the transformation of over 500,000 acres of tribal farmland into cannabis farming that will include agricultural services, the creation of manufacturing campuses to process the cannabis and workforce development, with products to be sold on the Everscore online marketplace.

Markets

Over the five trading days of this week:

  • The ETFMG Alternative Harvest ETF (NYSE: MJ): lost 3%.
  • The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): rose 0.6%.
  • The AdvisorShares Pure US Cannabis ETF (NYSE: MSOS): gained 3.3%.
  • The Cannabis ETF (NYSE: THCX): was down 3.5%.
  • The Amplify Seymour Cannabis ETF (NYSE: CNBS): tumbled 0.9%.
  • The SPDR S&P 500 ETF Trust (NYSE: SPY) closed the week down 1.62%.

M&A

Acquiring Company Acquired Company Price Conditions
Glass House Brands Inc. (NEOGLAS.A.U) (NEO: GLAS.WT.U) (OTCQX: GHBWF) Greenhouse facility in Southern California $158M Cash and stock
Ayr Wellness Inc. (CSE: AYR) (OTC: AYRWF) Garden State Cannabis Dispensary $101M Cash and stock
Akerna Corp (NASDAQ: KERN) 365 Cannabis $17M Cash an stock
Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) Food Concepts LLC $8.2M Stock
Chalice Brands Ltd. (CSE: CHAL) (OTCQB: …

Full story available on Benzinga.com

Acquiring Company Acquired Company Price Conditions
Glass House Brands Inc. (NEOGLAS.A.U) (NEO: GLAS.WT.U) (OTCQX: GHBWF) Greenhouse facility in Southern California $158M Cash and stock
Ayr Wellness Inc. (CSE: AYR) (OTC: AYRWF) Garden State Cannabis Dispensary $101M Cash and stock
Akerna Corp (NASDAQ: KERN) 365 Cannabis $17M Cash an stock
Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) Food Concepts LLC $8.2M Stock
Chalice Brands Ltd. (CSE: CHAL) (OTCQB: …

Full story available on Benzinga.com

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