In the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.
In today’s news:
#cannabisindustry – “Shares of U.S. and Canadian cannabis companies rallied Monday after Senate Majority Leader Chuck Schumer said Congress is “very close” to passing a cannabis banking and expungements measure. At a debate appearance on Sunday, Schumer said he’s made progress with Republican senators about introducing and passing a cannabis bill that would open up banking services for legal pot companies and also erase criminal records for cannabis convictions, as reported by Marijuana Moment.”
#psychedelic – “Biotechnology company, Small Pharma Inc. (TSXV: DMT) (OTCQB: DMTTF) has achieved an “exciting milestone” in its mission to progress drugs derived from dimethyltryptamine.
On Monday, the company announced that it had been granted approval from the Research Ethics Committee and U.K. Medicines and Healthcare products Regulatory Authority to begin a phase I trial with healthy participants examining the effects of SPL028, a patented injectable DMT drug.
Through the new study, the company will be investigating a short psychedelic experience lasting less than 30 minutes which is intended to offer convenience to patients. Psilocybin and LSD experiences for example can last anywhere between six and 12 hours.”
https://mugglehead.com/small-pharma-gets-approval-for-in-human-injectable-dmt-trial/
#cannabislaw – “The owners of High Times magazine are suing a former majority shareholder of the magazine’s parent company, saying that she lied about litigation with a former executive during negotiations to buy out that parent company in 2016, costing the new owners $10 million.
Hightimes Holding Corp., which bought all shares of Trans-High Corp. in 2016, said in a complaint filed Thursday that Eleanora Kennedy had signed off on statements in the purchase agreement saying that Trans-High had valid defenses in a wrongful termination of its former CEO David Kohl, only to later testify that those defenses did not hold up.”
https://www.law360.com/articles/1544337/high-times-buyer-says-shareholder-lied-about-ex-ceo-s-suit
Armada Law Corp offers licensing and compliance in all 50 states…
#cannabisindustry – “On Friday, October 28, 2022, with no announcement, publicity or advance warning, the Office of Cannabis Management (OCM) released its “Guidance for Adult-Use Dispensaries” (the Regulations). Although not expressly referenced in the title, the intent of releasing these regulations is to provide guidance for Conditional Adult-Use Retails Dispensary (CAURD) licensees and applicants.
All CAURD applicants should learn the details and requirements of the Regulations. Despite the repeated references to “guidance” in the Regulations, make no mistake, these are Regulations that both licensees and applicants are required to follow…”
#cannabisindustry – “Although the U.S. state-licensed cannabis industry has been one of the fastest-growing industries in the U.S. over the past decade, consumer fraud lawsuits arising out of alleged packaging and labeling problems, which are a common risk for CPG manufacturers in other industries, have, until now, not been a major consideration for the cannabis supply chain. However, that is changing. As three recent lawsuits suggest, consumer fraud class actions may be on the rise in the industry. Given the media attention cases like these attract, and the potential for damages for thousands or millions of potential consumers, the cannabis supply chain should take notice.”
https://www.lexology.com/library/detail.aspx?g=4ee40304-ec78-49e1-b852-341c6d1216e7