#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."

#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."