Cannabis companies and advocates applaud President Biden's announcement to reschedule and legalize cannabis, calling it a major leap forward and opportunity to correct long-standing wrongs and improve the industry's cashflow.
SNDL Inc. through its joint venture with SunStream Bancorp Inc., announced on Thursday that SunStream USA group of companies will proceed with the process of acquisition of equity positions in U.S. cannabis assets, following the completion of a review by SNDL's listing authority, NASDAQ. SunStream USA I, LLC and SunStream USA II, LLC are among the entities that comprise the SunStream USA Group, with each entity including one or more third-party investors, all independently managed and governed.The Calgary, Alberta-based company said on Thursday that SNDL's affiliate, SunStream Opportunities II LP, is anticipated to own non-voting and non-participating exchangeable securities in the SunStream USA entities.
DEA calls for reclassification of botanical cannabis from Schedule I to III under federal law. NORML praises decision but cautions on state/federal divide.
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