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June 26, 2020

New Jersey has taken another big step in their cannabis policy reforms, O-M-G! – CBG is coming soon to Canada, and Cresco announced a new addition to its leadership team.

The Morning Buzz presented by TRICHOMES brings you late-breaking news that tells you what’s happening within the cannabis industry.


First, some very exciting news that New Jersey is Going to Start Allowing Cannabis Deliveries

Months before New Jersey residents are set to vote on a cannabis legalization referendum, the state’s Department of Health announced on Thursday that it will allow medical cannabis dispensaries to deliver products to patients.

The policy change is partly meant as a social distancing measure to curb the spread of the coronavirus but it’s also part of the implementation of a broader delivery provision of a cannabis bill Gov. Phil Murphy (D) signed last year.

Dispensaries will be able to submit plans to the department in order to qualify for the waiver, which has been characterized as a “significant first step” toward enacting more wide-ranging legislation.

New Jersey is just the latest state to change its policies on cannabis deliveries amid the health crisis, and the allowing of deliveries comes hot off the heels of a decriminalization bill that was approved earlier this month.

** Next,Two Canadian and Spanish Hemp Companies are teaming up to Distribute CBG in Canada

A Canadian biotechnology hemp company is entering an agreement with a Spanish company to produce and distribute a THC-free, high-CBG variety of the plant called Panakeia in Canada.

Ottawa-based Cannabis Orchards’ partnership with Hemp Trading to get Panakeia into the Canadian market comes after “successful distribution” of it in the United States, the company told Hemp Industry Daily.

CBG is part of a group of novel, or minor, cannabinoids, which also includes CBN, CBD-V, and others. They’re in high demand because very few growers are producing them.

Like CBD, minor cannabinoids are non-intoxicating and can be used in topicals, edibles, beverages, and even smokable flower. One of the purported benefits of CBG is that it relieves ailments from immune disorders.

** Cresco Lands a Former Healthcare Executive as their new Chief Financial Officer

Cresco Labs announced that Ken Amann, who has been the Company’s Chief Financial Officer since 2015, is retiring. As part of a planned transition, the Company has appointed Dennis Olis to replace Mr. Amann as Chief Financial Officer, effective July 1st of this year.

Mr. Olis joins Cresco Labs after previously serving as CFO for Allscripts Healthcare Solutions. Mr. Olis brings an extensive background in operations, financial planning and analysis, accounting, financial reporting, tax, internal audit, treasury, and mergers and acquisitions at Allscripts and previously at Motorola.

Cresco Labs’ CEO Charlie Bachtell said, “After a thorough search, I’m thrilled to welcome Dennis Olis as our new CFO. Dennis has an impeccable reputation and brings extensive financial, operational, and strategic management experience. His track record of superior capital allocation and experience managing billions of dollars in annual sales as the SVP of Operations and Strategic Initiatives and as CFO makes him the perfect fit as Cresco enters the next phase of growth.” He said.

**That was today’s buzz! Thanks for listening…for more stories like the ones you just heard, join the cannabis community at TRICHOMES.com

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