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Canadian cannabis companies SNDL, Nova to amend complex retail deal

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Canadian cannabis producer SNDL and retail operator Nova Cannabis are amending a previously announced deal in which SNDL will transfer stores to Nova and return shares to the retail company for cancellation, among other things.

SNDL, headquartered Calgary, Alberta, is the majority shareholder of Edmonton, Alberta-based Nova after SNDL acquired Nova’s previous parent company Alcanna.

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“Overall, the amended terms aim to increase the number of retail stores SNDL will vend into Nova Cannabis (by an additional six locations) while reconfiguring SNDL’s equity ownership in Nova,” Matt Bottomley,  an analyst for Toronto-based Canaccord Genuity, wrote in a Tuesday research note summarizing the amended deal.

The multifaceted deal between SNDL, formerly known as Sundial Growers, and Nova was announced in December 2022.

The arrangement originally involved SNDL transferring 26 cannabis stores to Nova while retaining a management- and administrative-services deal with the retailer, replacing a credit facility and

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‘Secretive’ Wyoming companies win Missouri marijuana social equity licenses

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Applicants for adult-use marijuana social equity business licenses in Missouri are crying foul after it was revealed that nearly half the licenses awarded in the Kansas City area went to companies registered out of state.

According to The Kansas City Star, “secretive” limited liability companies registered in Wyoming won microbusiness permits over local, Black-owned operators.

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Wyoming state law shields ownership information from being publicly disclosed.

Not Missouri’s first social equity controversy

This is only the latest round of controversy for adult-use social equity licensing in Missouri, where voters legalized recreational cannabis in November 2022.

Adult-use sales launched the following year at existing medical marijuana dispensaries.

This past March, Missouri regulators revoked nine of 48 social equity permits awarded in an initial round after

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Missouri cannabis regulators recall 23,000 marijuana products

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Missouri cannabis regulators recalled more than 23,000 marijuana products from several brands on Tuesday, saying they were not properly tested by Fulton, Missouri-based lab ClearWater Science.

The Missouri Division of Cannabis Regulation (DCR) said it recalled the products because they were not “compliantly” tested, so the agency could not verify whether they meet state health and safety requirements.

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The DCR said it hasn’t received any reports of adverse effects; people who believe they might be having an adverse reaction should seek medical attention.

Patients and consumers should stop using the recalled products and either dispose of them or return them to the dispensary where they were purchased.

About a month ago, the DCR issued a series of recalls for more than 132,000

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Nebraska medical cannabis qualifies for ballot amid controversy

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Initiatives to legalize medical marijuana in Nebraska and set up a regulated MMJ market qualified for the November ballot on Friday, just hours after complications threatening the effort appeared.

Nebraska Secretary of State Bob Evnen certified the efforts of Nebraskans for Medical Marijuana on Friday, the same day prosecutors announced charges against Michael Egbert, a Grand Island man involved in the petition, for allegedly falsifying signatures.

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Nebraska is one of a dwindling handful of states without any regulated marijuana program.

On Thursday, former state Sen. John Kuehn, a co-founder of the anti-legalization organization Smart Approaches to Marijuana, filed a lawsuit to stop Even from certifying two separate measures:

Ballot measure 437, Nebraska Medical Cannabis Patient Protection, to legalize medical marijuana. Ballot

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