Schumer Signals, JW Playing Chess

News & Views from across the cannabis landscape.

Daily Recap

No more lonely nights and no more sleepy Senate. Per Politico, Chuck Schumer has outlined an enterprising agenda that includes must-pass bills on defense, aviation and farm policy, as well as long-held priorities like marijuana banking and China competitiveness.

That aligns with other signals suggesting there is a legitimate shot for SAFE to move through the Senate by the end of July. As with anything DC, we’ll treat that subject until we see real progress but we’re told the votes are there for SAFE and perhaps the HOPE Act, as well. (←state level expungements Weldon been working on for years).

[note: we’ve also gained confidence that the confluence of expected catalysts will be interconnected; i.e.; Garland will help fill-in the gaps created by legislative change (SAFE) and the upcoming scheduling recommendation; we’re told coordination b/w agencies and various branches of government is ongoing, which is great if true.]

Meanwhile TerrAscend has been busy; they plan to close the $20M private placement tomorrow, they secured a $25M commercial loan at PRIME + 2.25%, they bought their third (of four) MD dispensary ahead of Saturday’s adult-use launch and if all goes well, they could be trading on the TSX by next week.

Finally, and given there are so many moving parts, we took the time to transcribe the recent two-hour OSU Zoom that discussed potential scheduling implications as this is important stuff. You can find that below, along with other random thoughts.

Enjoy.

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