Cannabis News Roundup: Tilray Compensates CEO Very Well – TheStreet

Nevada Softens Marijuana Laws

New marijuana laws in Nevada took effect at the start of the month after Governor Steve Sisolak (D) signed multiple reform measures into law. 

The new rules include reducing existing penalties for minors who possess small quantities of the drug. Previously the penalties included up to six-months in jail and a $1,000 fine. Now minors will be punished with community service. 

A new bill also amends the state’s traffic safety statutes so that the operation of a motor vehicle with trace amounts of either THC or its metabolite is no longer a violation per se in certain circumstances. 

Tilray Takes Care of CEO

Canadian cannabis Tilray  (TLRY) – Get Tilray, Inc. Report paid its CEO Irwin Simon cash bonuses totaling $13.2 million (C$16.7 million) so far in 2021, according to a regulatory filing

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In total, Simon has received nearly $30 million in total compensation, almost half of which was paid in cash. The company said that Simon’s salary “may be increased but not decreased” as part of an annual performance review by the company’s compensation committee. 

Illinois About to Cross $1 Billion Mark

Retailers in Illinois have sold nearly $1 billion worth of recreational cannabis products through the first three quarters of the year, the state reported this week. 

In September alone the state reported more than $120 million in retail cannabis sales. About $80 million of that total came from in-state residents while $40 million came from non-Illinois citizens. 

the ETFMG Alternative Harvest ETF  (MJ) – Get ETFMG Alternative Harvest ETF Report, rose 20 cents, or 1.4%, to close at $14.31 Tuesday.

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