A shortened week came with no shortage of news, as Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) unveiled its new product portfolio, and its affiliate Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) announced it was adding Thirty Five Ventures, the VC firm run by NBA star Kevin Durant and sports exec Rich Kleiman, to its senior advisory board.
Meanwhile, the U.S. Drug Enforcement Administration issued final details for its plan to allow the cultivation of 3.2 million grams of cannabis for research purposes in 2020, marking a 30% increase from this year. The U.S. Food and Drug Administration sent warning letters to 15 companies for selling products containing CBD in forms the agency said were in legal breach of the Federal Food, Drug, and Cosmetic Act.
Trinidad and Tobago saw two bills that could change the landscape of marijuana regulation across the country introduced into its House of Representatives. Deloitte acquired Cannabis Compliance Inc. to build up its cannabis consulting practice.
In Massachusetts, more than 100 workers at Sira Naturals Inc. became the first in the state’s cannabis industry to reach an agreement on a union contract. The workers at the company’s locations in Milford, Needham, and Somerville voted to join United Food and Commercial Workers (UFCW) Local 1445, part of UFCW International, which represents more than 10,000 cannabis workers nationwide.
Key priorities for the workers include workplace safety, affordable health care, parental leave, and retirement benefits. As a result of a labor peace agreement with UFCW Local 1445, the company remained neutral throughout the union organizing process. The agreement could set a new precedent for relationships between company management and organized labor in the state’s emerging regulated cannabis industry.
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Earnings reports were also numerous, with numbers