This week, the U.S. Drug Enforcement Administration said it will expand the number of federal licenses for the research of cannabis; the Food and Drug Administration re-opened its solicitation of public input on a potential reclassification of cannabis under international treaties; and the Department of Agriculture said legal hemp farmers will be eligible for federal crop insurance starting with the 2020 planting season.
.@DEAHQ is moving forward to facilitate and expand scientific and medical research for #marijuana by increasing the number of qualified growers for research. We’ve already increased by 40% in 2 years from 384 to 542. pic.twitter.com/Q26oggZefA
— DEA HQ (@DEAHQ) August 26, 2019
A series of earnings reports from big companies including Slang Worldwide Inc (OTC: SLGWF) and TILT Holdings Inc (OTC: SVVTF) provided evidence that “the slow rollout of Massachusetts’ recreational licenses has finally hit the earnings of cannabis companies who were slow to recognize the effects,” Green Market Report CEO Debra Borchardt told Benzinga.
“Companies like Slang Worldwide and TILT Holdings, and the multistate operators who were expecting to be able to report sales sooner rather than later. The market will eventually prove to be a good one, just a little bit later than planned.”
If you want to receive this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse
In other news, we found out that a weed-themed show is hitting the runway at the New York Fashion Week, the product of a collaboration between bold fashion designer Korto Momolu —featured on the show “Project Runway” —and Women Grow, the largest networking organization for women in the cannabis and hemp industries.
“This is a HERstoric show for us. This is where cannabis meets high fashion on the runway,” said Women Grow CEO Chanda Macias.
Momolu designed both athleisure and high-fashion pieces. The designer said she was excited to team