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In this week\u2019s cannabis news round-up,\u00a0Tilray Brands to acquire beer and beverage brands from Anheuser-Busch; Jesse Ventura aims to be political pot pioneer; Connecticut sees $13M in adult-sue sales in July; and RAW donates $100K to JUST\u00dcS Foundation to boost legacy cannabis operators.<\/p>\n Tilray Brands, the world\u2019s largest cannabis company, is now set to become the 5th-largest craft brewer and 15th-largest overall brewer in the US by acquiring<\/a> eight popular beer and beverage brands from Anheuser-Busch, including Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company and HiBall Energy. The deal includes the brands\u2019 employees, breweries and brewpubs and will be completed in cash, with the transaction expected to finalize later this year.<\/p>\n These additions to Tilray\u2019s portfolio diversify the company\u2019s US beverage alcohol category segment. It already own renowned brands SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company and Green Flash Brewing Company. Tilray also owns Breckenridge Distillery, an award-winning spirits brand and Happy Flower CBD sparkling non-alcoholic cocktails.<\/p>\n \u201cToday\u2019s announcement both solidifies our national leadership position and share in the US craft brewing market and marks a major step forward in our diversification strategy,\u201d said Tilray\u2019s Chairman and CEO, Irwin D. Simon. \u201cWe\u2019re excited to work with the teams behind these iconic brands that command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities. Tilray is fully committed to invest in and champion the future of the US craft beer industry by fueling new innovation that excites and further accelerates the growth of its consumer base.\u201d<\/p>\n Jesse Ventura Aims to Be Political Pot Pioneer<\/strong><\/p>\n Former Minnesota Governor and iconic wrestler Jesse Ventura, a vocal advocate for adult-use cannabis legalization, is reportedly<\/a> planning to enter the cannabis industry in his home state. With the recent legalization of cannabis in Minnesota, Ventura aims to launch his own cannabis brand, utilizing his image and identity to promote the product.<\/p>\n According to a press release, he envisions this move not only as an economic boost for the state but also as an opportunity to keep the cannabis business and its profits within Minnesota, emphasizing his desire to contribute to the local economy by partnering with companies based in The Gopher State.<\/p>\n \u201cI\u2019d prefer to do Minnesota\u2014put my name with Minnesota companies and make cannabis a prosperous business in Minnesota by Minnesotans, keeping the money in Minnesota,\u201d Ventura said. \u201cWe\u2019ve always been a great farm state. There\u2019s no doubt Minnesota can produce corn, we can produce wheat\u2014we can also produce the best cannabis in the world, too. There\u2019s no doubt we can do that also.\u201d<\/p>\n Earlier this year, Ventura made a significant step by testifying before a state senate committee in support of adult-use recreational cannabis legalization. This marked his first time testifying in front of a legislative committee in Minnesota.<\/p>\n Ventura\u2019s involvement in cannabis advocacy dates back to his time in office when he championed the cause. He was elected as Minnesota\u2019s governor in 1998 as a Reform Party candidate and served a single term. He also attended the signing ceremony by current Governor Tim Walz, solidifying the North Star State\u2019s move towards cannabis legalization.<\/p>\n Connecticut\u2019s adult-use cannabis sales in July hit $13 million, while medical cannabis sales amounted to $10.6 million, data from the Department of Consumer Protection (DCP) revealed<\/a>. During the month, adult-use customers bought 324,177 products, while medical cannabis patients purchased 279,240 items.<\/p>\n For July, the average price for adult-use products stood at $39.92, slightly higher than the $39.66 average for medical cannabis products. Among the sales, 52% were from flower products, vapes made up 31% and edibles constituted 11%.<\/p>\n Since its January launch, adult-use cannabis sales have consistently grown in Connecticut, rising by around $500,000 from June to July. In the same period, medical cannabis sales dropped from roughly $11.4 million to $10.6 million.<\/p>\n Year-to-date, Connecticut dispensaries have seen about $68.9 million in adult-use sales and approximately $76.5 million in medical cannabis sales. While medical cannabis sales initially outweighed adult-use sales in the first four months of adult-use availability, the trend has reversed over the past three months.<\/p>\n Medical cannabis sales remain exempt from sales and excise taxes in th Constitution State. For adult-use purchases, a transaction limit of 7 grams of raw flower (or its equivalent) persists. Medical cannabis patients can buy up to 5 ounces per month without facing individual transaction limits.<\/p>\n RAW Rolling Papers has contributed $100,000 to the JUST\u00dcS Foundation<\/a>, a nonprofit organization dedicated to aiding legacy cannabis operators in entering the legal market. The donation, stemming from the RAW Seeds Fellowship grants, will be divided among legacy operators who have been adversely affected by cannabis laws enforced by the justice system.<\/p>\n To qualify for the fellowship, a legacy operator is defined as someone who primarily engaged in cannabis-related activities outside of the legal framework before legalization, spanning a period of five years. The grants, amounting to up to $20,000 per recipient, aim to facilitate the launch of legal cannabis businesses for these operators.<\/p>\n The JUST\u00dcS Foundation has committed itself to facilitating the transition of legacy cannabis operators into the legal market. Their educational initiatives encompass diverse programs such as the Woman Warrior Initiative, Safe Smoke Sesh Series, Octogacy, Mental Health First, The Revolutionary Cannabis Series, Cannabis Accounting Roundtables, and JUST\u00dcS JUMP Ins.<\/p>\n Josh Kesselman, RAW\u2019s founder, pointed out the significance of supporting the pioneers who laid the groundwork for the industry.<\/p>\n \u201cAs the industry undergoes a significant transformation, emerging from the shadows and embracing legality, it\u2019s crucial that those who built it from the ground up are the beneficiaries, along with the communities they come from,\u201d Kesselman said in a press release<\/a>. \u201cWhile major companies are rushing to take advantage of new laws legalizing cannabis, we need to support the small entrepreneurs who are the true lifeblood of this industry.\u201d<\/p>\n Scheril Murray Powell, COO of JUST\u00dcS Foundation, described the organization\u2019s mission as breaking down barriers. She explained that integrating legacy operators is pivotal for diversifying the legal cannabis market and contributing to a robust and inclusive industry that promotes societal health and wellness. Additionally, the program may offer smaller grants of up to $15,000 to various legacy operators, aiming to assist them in launching legal cannabis businesses or pursuing careers in the legal cannabis sector.<\/p>\n Steve DeAngelo<\/a>, founder of JUST\u00dcS Foundation, underlined the importance of recognizing the significant role that legacy operators played during the prohibition era and advocated for their fair treatment as heroes rather than criminals.<\/p>\n \u201cInstead of being excluded from the legal cannabis industry, legacy operators should be warmly welcomed into it,\u201d he said. \u201cThey should be honored as the brave pioneers and accomplished experts they truly are, not ostracized or excluded because they\u2019ve been convicted for breaking unjust laws that should never have been passed. These grants will help return opportunities to legacy cannabis entrepreneurs that shouldn\u2019t have been taken away from them in the first place.\u201d<\/p>\n The post Week in Review: Tilray to Acquire Beverage Brands from Anheuser-Busch<\/a> appeared first on Cannabis Now<\/a>.<\/p>\n
In this week\u2019s cannabis news round-up,\u00a0Tilray Brands to acquire beer and beverage brands from Anheuser-Busch; Jesse Ventura aims to be political pot pioneer; Connecticut sees $13M in adult-sue sales in July; and RAW donates $100K to JUST\u00dcS Foundation to boost legacy cannabis operators. PHOTO Gotta Be Worth It Tilray BrandsContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":15,"featured_media":67715,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5796,50,80,17364,17365,1055,15670,17366,1845],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/67714"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=67714"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/67714\/revisions"}],"predecessor-version":[{"id":67716,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/67714\/revisions\/67716"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/67715"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=67714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=67714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=67714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Tilray](\"https:\/\/cannabisnow.com\/wp-content\/uploads\/2023\/08\/Craft-Beers.jpg\")
<\/a>Tilray Brands to Acquire Eight Beer & Beverage Brands from Anheuser-Busch<\/h4>\n
<\/a><\/a>Connecticut Sees $13M in July Adult-Use Cannabis Sales, Medical Sales Dip<\/h4>\n
<\/a>RAW Donates $100K to JUST\u00dcS Foundation to Boost Legacy Cannabis Operators<\/h4>\n
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\nRead More: Week in Review: Tilray to Acquire Beverage Brands from Anheuser-Busch<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"