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:
#psilocybin – “Arizona veterans struggling with their mental health want new solutions, and Dr. Sue Sisely believes that psilocybin, the psychedelic ingredient in “magic mushrooms,” could be the answer.
But so far the only controlled trials on psilocybin to treat medical conditions have used a synthetic, one-molecule version of the substance, which is vastly different from a whole mushroom, which contains hundreds of compounds. And, anecdotally, people who use mushrooms illegally at home are seeing much better results than those in the trials.
That’s why Sisely is advocating for a bipartisan bill (HB2486) proposed in the Arizona legislature that would put $30 million in grants over three years toward clinical trials using whole-mushroom psilocybin to treat mental health conditions like depression and PTSD.”
#californiacannabis – “Flow Cannabis Co., the California operator that raised nearly $200 million in a bid to become “the Whole Foods of cannabis,” has “eliminated” all plant-touching activities and “mothballed” operations after running out of cash, according to company documents and a board member.
The once-industry-leading but now-struggling company burned through more than $24 million in cash in 2021 and reported sales of “approximately” $11 million, according to investor updates from the board obtained by MJBizDaily.
Flow Cannabis Co. – often referred to by its flagship brand, Flow Kana – has leased some licensed facilities to other companies and is attempting to sell off other real estate.”
#cannabis – “Coles pleaded not guilty on Jan. 6 during an appearance before U.S. Magistrate Judge Daniel Stewart. She is charged with conspiracy to manufacture and possess with intent to sell more than 1,000 kilograms of marijuana, as well as money laundering and money laundering conspiracy between 2016 and June 15, 2022, the indictment said….
In a phone interview Tuesday, Coles told the Times Union she committed no crime. She said she simply drove her daughter to the bank in her car.
“The only thing I can say is I’m not guilty,” Coles said. “I’ve never done anything against the law in my whole life … I don’t even have a traffic ticket. They’re just assuming that I’m guilty of something and they have no proof of it.””
#cannabisindustry – “A Florida woman is suing the company behind cannabis dispensary MedMen in California federal court, alleging that the company violates Florida law by sending unsolicited text messages without the receivers’ consent.
In a complaint filed Monday, Chelsea Smith says she has received these spam text messages despite never giving Culver City, California-based MM Enterprises USA LLC permission to contact her, and is asking the court to award the statutory $500 per violation of the Florida Telephone Solicitation Act to her proposed class, a sum that she estimates comes to more than $5 million.”
#cannabisindustry – “A New York federal judge on Tuesday rejected state cannabis regulators’ bid to revise a November order blocking the issuance of retail marijuana licenses for five regions across the Empire State.
The denial tees up a fight in the Second Circuit Court of Appeals as the New York Office of Cannabis Management had vowed to pursue an appeal if the district judge did not limit the scope of the injunction to only apply to one region of the state.
In rejecting New York cannabis regulators’ motion for reconsideration, U.S. District Judge Gary L. Sharpe reaffirmed that the licensing scheme at the crux of the dispute was likely unconstitutional under the dormant commerce clause, a constitutional doctrine that limits states’ ability to exercise control over interstate commerce.”