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The Scuttlebutt Featuring Articles About Struggling Cannabis Companies Turn To Canadian Insolvency Law, Terminal Cancer Patient Cited For Cannabis In Kansas and More

Posted by Armada Admin | Dec 29, 2022 | 0 Comments

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 - ""What we are trying to do is very simple: to produce the best weed in the world. We buy seeds from the US, from Europe and from Canada and then we mix them and experiment with them until we get new strains original to Sinaloa," he said.

After the plants are fully grown, the weed produced in the greenhouse is taken into a different location managed by different people, where they make pre-rolled joints, wax, edibles, and a dozen other products."


#cannabispolitics - "With the SAFE Banking measure now dead in the $1.7 trillion omnibus spending bill in Congress, attention is now shifting to President Joe Biden's review of cannabis as a Schedule I drug....

If the review places it in another classification, or potentially results in removal from the U.S. Controlled Substance Act under the Drug Enforcement Administration, industry advocates say it could reduce or eliminate many of the regulatory burdens on legal cannabis companies operating on a statewide level."

#medicalcannabis - "While the police department later dropped the citation, which would have required the cancer patient to appear in court, reports of the incident fueled debate over the continued criminalization of cannabis in Kansas, one of the three US states that has not legalized the product in any context."

#cannabispolitics - "Against this backdrop, one surprising trend is emerging: push and pull among pro-cannabis advocates who say that legalization may not be the right move after all — or at least not the way it's shaping up. Their concern? Who will actually benefit from a federally regulated industry.

If cannabis is rescheduled under the Controlled Substances Act, regulating marijuana as medicine, it might, advocates worry, allow Big Pharma to control the market. And if it's legalized at a federal level, some also fear that conglomerates like Amazon could quickly dominate a national adult-use marijuana industry."

#cannabisindustry - "An unusual number of cannabis companies have used a Canadian corporate insolvency law called the Companies' Creditors Arrangement Act (CCAA) in 2022, a trend that demonstrates both the marijuana industry's financial challenges and one possible solution to keep businesses from slipping completely underwater....

Many businesses proceeded with the expectation that capital would continue to flow, Dhillon added.

“That is no longer the case,” he said.

“And because they have no cash now and this is a relatively thin-margin business and (a) capital-heavy business at times, they have no more means of being able to raise cash anymore or pay back debts."

#illicitcannabis - "In March of 2022, the Trinity County Sheriff's Office began investigating a reported sexual assault and human trafficking incident that occurred in Trinity County on a marijuana grow site.

During the investigation, evidence was found that supported the victims claims, and a suspect was identified as Gilbert Cha. The Trinity County District Attorney's Office issued a No Bail Felony warrant for the arrest of the suspect."

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