Corona beer-maker bets big on Cannabis
Constellation Brands, a popular beer-maker, has upped its investment in the cannabis industry.
Prior to this week, the global giant had a 9.9% stake in Canopy Growth, a Canadian-based cannabis company. After investing an additional $4 billion, the brewer now owns 38% of the company.
Stock has risen following news of the increased stake, with Canopy’s stock soaring as high as 28%.
Experts believe the drink and edible market is set to explode, leaving Constellation, and a handful of beer-makers eager to unleash canna-themed products.
Campaign financing: Cannabis playing a bigger role in New Mexico’s elections
Canna-businesses based in New Mexico have spent more than $49,000 on state candidates during the 2018 election cycle.
While nowhere near the $1.4 million contributed by big-oil, it’s significant, as the state has already nearly doubled its political contributions from the previous year.
General elections will be held on November 6th, featuring a handful of high-ranking candidates who support legalization.
Lujan Grisham, who has received contributions from multiple cultivators, will be competing against republican Steve Pearce, who believes New Mexico is ‘too poor’ to legalize the drug.
Former president Jimmy Carter endorses pro-cannabis politician
Democratic nominee for governor of Georgia, Stacey Abrams just received a prestigious endorsement, coming from former US president Jimmy Carter.
“I know that Stacey has the courage and ability to serve every Georgian well – no matter where they call home,” said Carter.
Abrams, who is poised to be the first African American woman governor, has been an outspoken believer in the benefits of cannabis. “Legalizing medical cannabis will help combat prescription drug abuse, and give Georgians suffering from many conditions access to the prescribed treatment they need. It is time for the General Assembly to act, because this issue isn’t partisan—it’s common sense,” said Abrams in a recent tweet.
While not as outwardly spoken as Abrams, Republican nominee Brian Kemp has supported cannabis in the past, supporting research-backed plans of expansions to the current program.
House candidate demands better federal protection for legal canna-businesses
Congresswoman Barbara Lee introduced the REFER Act in early January, hoping to prohibit federal government from intruding on state canna-laws.
The Californian official recently used Twitter to encourage her colleagues to support the bill, claiming that the federal government has no legal right to intrude on states that have passed new laws.
If passed, the REFER Act would also restrict federal government from using official funds to investigate legal financial institutions operating within the industry.
Latest posts by John Kuster (see all)
- The Advocate: Weekly Cannabis News - September 20, 2018
- Cannabis in Illinois: all eyes on the Governor’s race - September 18, 2018
- The Advocate: Weekly Cannabis News - September 13, 2018