Wana Brands rolls out THC drinks ‘nationwide’ 🇺🇸

“As a world leader in federally regulated cannabis production, Canada has a first-mover advantage in a global market projected to surpass $145 billion by 2026,” Organigram CEO Beena Goldenberg said in a LinkedIn post. 

“The industry has already contributed over $43 billion to GDP, supports 80,000 jobs, and generates significant tax revenue. With the right tax and regulatory reforms, it can drive even greater investment, innovation, and trade — helping to build a more self-reliant domestic economy.”

Health Canada updates rules 🌿

Health Canada published updated cannabis regulations on Wednesday. The updated regulations focus on five key areas: licensing, production, packaging and labelling, security, and record keeping. It’s the most extensive package of changes since legalization kicked off in 2018, reports StratCann. You can see the full update here. 

GTI publishes social impact report 👀

Green Thumb Industries released its third annual Social Impact Report, highlighting progress on criminal justice reform, community investment, and sustainability. The company says it’s doubled down on expungement efforts and workforce diversity, and is cutting its carbon footprint. Check out the full report here.

Kansas lawmakers introduce legalization bills 🤝

Kansas lawmakers introduced a pair of bills that would legalize and regulate both medical and recreational cannabis sales. Senate Bill 294 would legalize medical cannabis, and House Bill 2405 would legalize the use and regulate the sale of cannabis for all adults. Read more. 

Wana Brands rolls out THC drinks nationwide 🍹

Wana Brands is rolling out its line of hemp derived, THC-infused beverages to Total Wine & More stores in nine states including Florida and North Carolina, the company said. Hemp-derived THC drinks are able to be sold outside traditional dispensary channels thanks to the 2018 Farm Bill. Wana is owned by Canopy Growth’s subsidiary, Canopy USA.

Cresco Labs results 📈

Cresco Labs reported its fourth quarter and full year results. For the full year, the company reported a $60 million net loss on $724 million of revenue. For the fourth quarter, the company reported $0.4 million of net income on $176 million of revenue. The full results are here. 

On Trump, Cresco CEO Charlie Bachtell said: “If I look at the lay of the land ahead of us, you know, the obligation’s on us to make sure that we tell the cannabis story in a way that the current administration can hear it and see it for what it is, which is it just needs a common sense approach brought to it from a reform perspective.” 

Read our February 28 newsletter for more on the views of industry CEOs on the prospects of federal reform under Trump 47. 

Friend of Cultivated Marc Hauser at Cannabis Musings has a great newsletter on hemp drinks. It’s well worth your time, and you should subscribe while you are there. Read it here.