Here are today’s cannabis news briefs for March 26, 2018:
Senate Majority Leader Mitch McConnell (R-Ky.) announced a new bill on Monday that would legalize hemp as an agricultural product and remove it from the controlled substances list. The Hemp Farming Act of 2018 would legalize hemp and allow it to be sold as an agricultural commodity.
“Hemp has played a foundational role in Kentucky’s agriculture heritage, and I believe that it can be an important part of our future,” McConnell said in a statement. The act would give states more control over their own hemp regulations and also give researchers the “chance to apply for competitive federal grants from the U.S. Department of Agriculture – allowing them to continue their impressive work with the support of federal research dollars.”
McConnell announced the bill with Republican Kentucky Agriculture Commissioner Ryan Quarles. The bill is being co-sponsored by Sens. Ron Wyden (D-Ore.) and Rand Paul and is expected to be introduced when McConnell gets back to Washington.
Aurora Cannabis (ACBFF) increased its stake in Hempco Food & Fiber Inc. to 35%. Aurora exercised 10,558,676 warrants at an aggregate cost of $4.3 million to purchase the shares. Aurora CEO Terry Booth said the company ultimately intends to own 50% of Hempco.
Invictus MD Strategies
Invictus MD Strategies said that its company Acreage Pharms completed its physical on-site license inspection by Health Canada officials. The company said it is positive that it will pass the inspection and get its sales license. The first five grows rooms could be ready for production within a week.
Grasslands agency, established by Founder and CEO Ricardo Baca, a 25-year newspaper veteran and the Founder / original Editor-in-Chief of groundbreaking news site The Cannabist has hired Shawna Seldon McGregor. She will lead the public relations department as Managing Partner and is based out of Grasslands’ brand-new Denver office.
McGregor joins Grasslands from The Rosen Group, where she served as Senior Vice President. After joining the firm in 1999, she established TRG’s Denver office in 2012 and became one of the first public relations professionals working in the legal cannabis industry. She has represented the country’s leading marijuana brands, bringing their stories to the national stage as well as emerging markets, while educating target audiences and conveying critical narratives.