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Almost Friday! Nicolás Rodríguez here, bringing you this week’s essential news to stay up to date with the latest and greatest in cannabis. In West Virginia, the governor's race is shaping up to be a showdown between cannabis legalization and the opioid crisis. Could this be a sign of what's to come in other red states? Tilray is expanding its North American reach with a $23.8 million promissory note, while Trulieve keeps growing in Florida as DeSantis-backed PACs struggle to keep up. Stay tuned!

Tilray Secures $23.8M Note, C3 Pharmaceuticals Heads North

Tilray’s (NASDAQ: TLRY) latest play—a $23.8 million promissory note from Double Diamond—keeps the momentum rolling after its craft brewery acquisitions. With 13.2 million shares swapped in the deal, Tilray is doubling its North American footprint.

Meanwhile, C3 Pharmaceuticals is targeting Canada. It plans to list on the Canadian Securities Exchange and is backed by a hefty CAD$135 million commitment.

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Cannabis Vs. Opioids In West Virginia’s Governor Race 

In West Virginia, the 2024 governor’s race has sparked debate over recreational cannabis. Democratic candidate Steve Williams supports legalization, arguing it could boost the economy, while Republican Patrick Morrisey opposes it, citing the need to combat the opioid crisis. As neighboring states move toward legalization, this issue is heating up. 

DeSantis Burns Cash, Trulieve Expands in Florida

As Ron DeSantis' anti-cannabis PACs blow through funds on lavish events, raising just a fraction of what they spent, Trulieve (OTC: TCNNF) is quietly fueling Florida’s pro-legalization campaign with its $90M war chest. On top of that, Trulieve is set to open a new medical dispensary in Lake Worth, complete with music, discounts, and a push for the #YesOn3 ballot initiative. 

Green Thumb Scores First Bank-Backed Loan In Cannabis, Acreage Faces Tougher Terms

Viridian reported Green Thumb’s (OTC: GTBIF) $150M refinancing marks a major milestone, as the first bank-backed loan in cannabis. As the highest-ranked credit in Viridian’s Tracker, GTI secured a competitive 10.31% rate. The deal hints at more debt market developments ahead, including high-yield bonds. Near the bottom of Viridian’s credit ranking, Acreage Holdings (OTC: ACRHF) managed to secure a $58.5M refinancing—but at a steep 17.9% yield.

Stories In The Spotlight:

• How This Former DEA Consultant Is Making Craft Cannabis Profitable In New Jersey: A 'Dirt-y' Little Secret

• More Than $3 Billion At Stake: How Regulatory Red Tape Is Holding Back Australia's Cannabis Legalization

• Thailand's New Cannabis Bill: Stricter Rules, But Marijuana Remains Legal

• Irish Cannabis Patients Will Now Gain Access To New Products Through This International Agreement

• 'Just Smoke The Weed': Why This Physician In California Urges Against Cannabis Vaping

• Ultra-Low-Dose Ketamine May Offer Relief For Opioid Withdrawal, Study Finds

Our Writer Today

Nicolás holds a B.A. in International Relations, an M.A. in International Affairs, and an M.Phil in Public Policy. He is a doctoral student in Public and Urban Policy at The New School in New York City. After working for the United Nations in 2014, Nico pivoted his research to studying the relationship between the cannabis industry and economic development.

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