On Tuesday, the U.S. House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking Act 321-103. It was considered a historic event because this is the first standalone cannabis policy reform bill to ever reach a House floor vote. The legislation overwhelmingly passed with bipartisan approval.
The House of Representatives voted 321 to 103, representing 79% of the vote, in favor of HR 1595. The YES votes represented 99% of the Democratic majority caucus and 47% of the Republican minority caucus. The next step is for the Senate to pass a similar piece of legislation.
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At a press conference on Tuesday, Massachusetts Governor Baker said that he is banning all vaping products in the state until Jan 25, 2020. Across the country, consumers have reported vaping-related illnesses. 530 people said they have have been affected, and nine people have died. Massachusetts’ Department of Public Health said this month that all physicians must report any vaping-related pulmonary disease to the department, and the state is now tallying 61 possible cases.
GW Pharmaceuticals plc (Nasdaq: GWPH) announced that its flagship drug, Epidyolex, has been approved by the European Commission for use as adjunctive therapy of seizures associated with Lennox‑Gastaut syndrome (LGS) or Dravet syndrome, in conjunction with clobazam, for patients 2 years of age and older. The regulatory path is now clear for GW to start selling Epidyolex in European markets.
The cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology company Akerna Corp. (Nasdaq: KERN) (formerly known as MJ Freeway) reported total revenue of approximately $11 million for the year ending June 30, 2019, which was a 4.2% increase over last year’s $10.5.
Aleafia Health Inc. (TSX: ALEF)(OTC: ALEAF) told the market on Tuesday that it will achieve positive net income for the quarter ending September 30, 2019. The company also stated that it had $51 million in cash on hand.
Flow Capital Corp. (TSXV: FW) has commenced legal proceedings against Dionymed Brands Inc. (DYME) as DionyMed is in default under the company’s royalty agreement. The claim is for the minimum sum of $2,698,116
Jushi Holdings Inc. (NEO: JUSH.B; OTCQX: JUSHF)has qualified to trade on the OTCQX Best Market and began trading this week using the symbol “JUSHF.”