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Welcome back to The Week in Weed, your Friday look at what s
happening in the world of legalized marijuana.
Federal legislation to legalize cannabis is under consideration.
In state news, Virginia moved up its timeline to legalize
possession and home grow. New York launched a cannabis control
website. We take a look at what s happening in Montana. South
Carolina probably won t legalize medical marijuana. And
finally, only cannabis could unite Snoop Dogg and Charles Koch.
federal legislation
Senate Majority Leader Chuck Schumer (D-NY) supports federal decriminalization that would
Special purpose acquisition company Glass House Group for $567 million.
The deal implies a $1.024-billion equity valuation and an approximate enterprise valuation of $691 million.
Curaleaf Holdings, Inc. (CSE:CURA) (OTCQX:CURLF) purchased European operator EMMAC Life Sciences. The U.S.-based company agreed to pay $50 million in cash and 17.5 million in stock worth roughly $260 million.
In addition, Curaleaf teamed up with an institutional investor to secure $130 million in financing for further expansion of Curaleaf International.
Meanwhile,
Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) announced it will buy
The Supreme Cannabis Company, Inc. (TSX:FIRE) (OTCQX:SPRWF) for about CA$435 million ($345.7 million).
Weldon Angelos, Charles Koch and Snoop Dogg are behind the Cannabis Freedom Alliance
(Ken Cedeno | Pool via AP) Sen. Mike Lee, R-Utah, speaks during a hearing on Capitol Hill, Jan. 21, 2021, in Washington.
| April 9, 2021, 12:05 p.m.
A new national organization has joined the political fight to legalize marijuana. The twist is the Cannabis Freedom Alliance will focus on recruiting Republicans to its cause and one of its first lobbying targets is Utah Sen. Mike Lee.
The alliance launched this week, and is an outgrowth of conversations between rap superstar Snoop Dogg, conservative billionaire Charles Koch and criminal justice reform advocate Weldon Angelos.
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Angelos reportedly had earlier connected with the Koch network to feel out its support for legalizing cannabis at the federal level in the U.S. Compared to previous Majority Leader Mitch McConnell, current Majority Leader Chuck Schumer looks to a far better bet to get a weed legalization bill to a vote, he suggested to
Politico. Sixty yes votes are needed for any such bill to pass.
Schumer has been very vocal about his support to oust current rules, tweeting last week that he “will keep working in the Senate to end the federal prohibition on marijuana and undo the damage of the War on Drugs.”