Recreational marijuana was given the nod of approval in four states on Tuesday (November 8), further boosting hopes of legalizing it across the United States.
While cannabis is already legal in California, the golden state voted in favor of recreational use, along with Nevada, Massachusetts and Maine. This also makes Massachusetts’ the first state east of Mississippi to allow recreational use of marijuana.
California’s approval of cannabis legalization, according to the L.A. Times, makes it the United States’ biggest market for marijuana products.
Nate Bradley, executive director of the California Cannabis Industry, told the Times that they are “very excited” about California’s approval of Proposition 64.
“Proposition 64 will allow California to take its rightful place as the center of cannabis innovation, research and development,” he said.

To that end, the votes bring recreational cannabis usage legal to eight states: Colorado, Washington, Oregon and Alaska have previously dropped their laws against pot.
Other states, such as Florida, North Dakota, and Arkansas voted on marijuana measures to expand conditions that can be treated with cannabis. This effectively pushes the number of states with these specific regulations over two dozen.
According to New Frontier Data, in partnership with Arcview Market Research, the legalization of marijuana in the above-mentioned states projects the cannabis market to rise above $20.9 billion by 2020.
“Recent polls have shown 60 percent of the public supports adult use legalization,” Giadha DeCarcer, founder and CEO of New Frontier said in the press release.  “The passage of California’s adult use measure and Florida’s medical initiative expand legal access into two of the country’s most populous states. Additionally, the passage of the measure in Massachusetts opens the first adult use market in the Northeast extending the reach of legal adult use access from coast to coast.”

Still–there is lots of uncertainty surrounding cannabis legalization under a Trump Justice Department.
Ethan Nadelmann, executive director of the Drug Policy Alliance, expressed concerns in a statement over Donald Trump as the next president
“His most likely appointees to senior law enforcement positions — Rudy Giuliani and Chris Christie — are no friends of marijuana reform, nor is his vice president,” he continued.
While marijuana is legal across many states, it is still illegal for all uses under federal law. Back in 2013, the Obama administration put a policy in place for non-interference with state cannabis legalization.
Given that it’s early days yet, and as the country awaits Donald Trump to become president, the future is unclear as to what the laws will be on legalization of marijuana.

Cannabis stocks rising

On that note, cannabis stocks have been riding a high as a result of the election. Here’s a look at a few who have performed well following the votes to legalize marijuana.

  • Marapharm Ventures (CNSX:MDM)(OTCMKTS:MRPHF): the Las Vegas-based company has increased 44.29 percent over a one-day period to reach $1.04;
  • Pineapple Express (OTCMKTS:PNPL): up 35.71 percent to $4.75 over a one-day period;
  • Finore Mining (CNSX:FIN) (OTCMKTS:FNREF): the company has seen a slight increase of 2.38 percent for a one-day period to $0.297.

Don’t forget to follow us @INN_Cannabis  for real-time news updates.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Finore Mining is a client of the Investing News Network. This article is not paid for content.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

Keep reading... Show less

Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

Keep reading... Show less

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less

As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

Keep reading... Show less