The Daily Hit: December 7, 2022

The Daily Hit is a recap of cannabis business news for Dec. 7, 2022.

ON THE SITE

NLRB: Curaleaf Violated Labor Law by Refusing to Bargain with Union

Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) violated labor law by refusing to bargain with unionized workers at its Chicago location, the U.S. National Labor Relations Board ruled Tuesday. A three-member panel said that the company, GHG Management LLC, which oversees Windy City Cannabis and Curaleaf Weed Street, must recognize and bargain with workers within 21 days of receiving the notice from the NLRB. Read more here.

Analysts Try to Stay Hopeful on SAFE Act

The cannabis banking bill, the SAFE Act, did not make it into the defense bill despite efforts by Sen. Chuck Schumer. Now attention is turning to possible inclusion in the appropriations bill, but even that might not happen. More disappointing for the cannabis industry: comments by minority leader Sen. Mitch Mcconnell tagging the banking legislation as a “pet priority.” Read more here.

Cannabis Wholesale Numbers Keep Trending Down

Much of the U.S. cannabis wholesale market has been crashing this year, and that trend doesn’t appear to be reversing, according to the latest Cannabis Benchmarks report from Friday. The U.S. Cannabis Spot Index reported that wholesale prices reached a new low for 2022 of $955 per pound, down from $1,310 per pound a year ago. Read more here.

Illinois Governor Opens Door to Cannabis Delivery

Gov. J.B. Pritzker says cannabis delivery, which is currently illegal in Illinois but offered in other states, is an idea worth considering. Delivery services are legal in states such as Michigan, Florida, California, Maryland, Nevada and others. Uber Eats recently began delivery in Toronto. Read more here.

Massachusetts Pivots to Allow Some Pesticide Use by Cannabis Growers

Massachusetts authorities changed their minds when it comes to pesticide use in the marijuana industry and will allow pest-fighting chemicals that are approved for use on hemp and tobacco. The move reverses a previous ban on all non-organic pesticide use by cannabis farmers in the state. Read more here.

IN OTHER NEWS

Petalfast

Petalfast, a route-through-market platform for the cannabis industry, announced its partnership with Eagle Eyes Transport Solutions, LLC, Massachusetts’ first licensed third-party cannabis transporter and logistics specialist for adult-use and medical cannabis. Through this partnership, Eagle Eyes Transport will supply Petalfast’s growing brand portfolio with full-service transport, distribution, warehousing and fulfillment services in the state. Read more here.

Nevada consumption lounges

Clark County’s 2-hour “last call” proposal and a 24-hour “no tow” rule have drawn concern from some cannabis business insiders, as county officials move forward with cementing the policy into local law. The Cannabis Compliance Board requires a minimum of 30 minutes for the last call for customers, but Clark County officials have made it known that they intend a more stringent policy to combat intoxicated driving. Read more here.

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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