“Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it,” said Matthew Broderick as 1980s’ icon Ferris Bueller. The same can be said for the cannabis industry. There’s always something new happening.
Snoop Inks Partnership With Atlas Global Brands
Snoop Dogg’s eye on global domination took another step forward following an announcement that the entrepreneur and hip-hop legend signed an “exclusive international licensing agreement” with Canada-based global cannabis company Atlas Global Brands Inc.
“Consumers love Snoop, and our collective goal is to deliver premium products in all cannabis categories that will consistently exceed consumer expectations,” Bernie Yeung, Atlas Global CEO, said in a statement.
The five-year agreement will allow Atlas Global to selectively “source, package and distribute directly in Canada and through approved distribution partners internationally,” including medical cannabis products in Germany, Israel and Australia.
This significant deal also gives Atlas Global exclusive rights to the artist’s name, likeness and other intellectual property “to produce, package, manufacture, distribute, sell, advertise, promote and market cannabis flowers, pre-rolls, concentrates, oils and edibles, and personal vaporizers” in legal markets.
“I chose Atlas to represent and launch my new brands because of their innovation and global reach. I am excited to work with their team to select my favorite strains for my brands and fans,” Snoop Dogg said. “You know they’ll be amazing because they’ll be personally approved by me.”
Roll Up and Roll Out on the Cannabis Experience
Toking tourists and weed-loving locals alike can now enjoy the sights of Denver on the country’s first licensed cannabis consumption bus. Founded by local entrepreneur Sarah Woodson, the Cannabis Experience is meant to provide safe, legal cannabis tours, airport transportation and private party buses that are cannabis friendly, as well as visits to cannabis farms and dispensaries. Private party bus rentals will also offer food and art themes such as “Toking and Tacos” and “RiNo Mural Tours.”
The Cannabis Experience is Woodson’s latest foray into cannabis tourism in the city. The former consultant for Marijuana Industry Group also founded the highly popular consumption-friendly cannabis art class, Kush & Canvases, and says she is “helping move the needle forward in the legalization fight.”
“The Cannabis industry is extremely regulated and not diverse. It took us almost a year to become operational, so we’re excited to be the country’s first safe, legal, licensed mobile hospitality business,” Woodson says. “We’re social equity and African American. We’ll have amazing tours, and grow our fleet over the next 24 months and work on expanding into other local cities such as Aurora. We’re proud to be in the cannabis industry.”
Although there have been previous cannabis buses operating in Colorado, they weren’t officially permitted and were all shut down by authorities. The Cannabis Experience, on the other hand, possesses both a local license and a state-issued cannabis hospitality permit. Here’s how to book your seat.
The Grasshopper Club Opens in Chicago
A family-owned company just made history as Chicago’s first independent, Black-owned dispensary. Located in Logan Square, in the 2500 block of North Milwaukee Avenue, the Grasshopper Club is owned by Dianne Brewer and her two sons, Matthew and Chuck, along with some “minor silent investors.”
“We don’t have a relationship or get support or have an arrangement with one of the large, publicly-owned cannabis companies,” Matthew told ABC 7 Chicago.
“I’m working on the accounting aspects of this business,” Dianne said. “I’m totally excited. I retired 12 years ago and here I am working again.”
For Chuck, the opening is something of a full circle, as he was arrested for cannabis possession a few times in his youth. “For me to be doing this legally with my brother and my mother…it’s priceless,” he said.
When Illinois’ Cannabis Regulation and Tax Act went into effect in 2020, “social equity” provisions were included in legislation to help communities harmed by past drug policies access the economic benefits of cannabis legalization. But, according to Dianne, it’s been a struggle for some, and her family has pledged to support other African Americans to open more independent dispensaries. “They call it social equity, but you’ve got to have the money to be able to open, and many African Americans don’t have that money,” she says.
The Brewer family plans to open a second Chicago-based dispensary this summer.
Cannabis Sales Drop in California
According to the latest statistics released by the California Department of Tax and Fee Administration (DTFA), annual cannabis sales in the Golden State declined in 2022 for the first time since its adult-use market launched in 2018, reports MJBiz.
The fourth quarter’s taxable sales fell 8.2% to $5.3 billion from the $5.77 reported in the same period last year, marking the third consecutive quarterly decline. Additionally, tax revenue was close to $1.1 billion in 2022, a 21% decrease from around $1.4 billion in 2021. Despite the decline, California continues to account for about 20% of the $26 billion market.