This week brought a blockbuster cannabis deal, exciting legalization progress, and an important SAFE Banking Act update…
Welcome back to NICI Snippets!
At the National Institute for Cannabis Investors (NICI), we’re here in your corner to keep you informed and guide you to the biggest moneymaking opportunities in cannabis.
That’s why we launched NICI Snippets – a new series that gives you key insights into all the positive momentum happening in the cannabis market, so you have everything you need to make the most money possible from cannabis investing.
Danny Brody kicked us off last week, but there’s never a dull moment in this industry – and this week was no exception.
NICI Snippets: Week of May 13, 2021
- Trulieve Is Acquiring Harvest Health in a Blockbuster Deal: Trulieve Cannabis Corp (OTC: TCNNF) announced on Monday that it would be acquiring Harvest Health and Recreation (OTC: HRVSF) for a record-breaking price of $2.1 billion-the largest cannabis acquisition in history. After this deal closes, Trulieve will operate 126 medical and recreational dispensaries in 11 different states along with 22 cultivation and processing facilities. Click here to find out more about what this historic deal means for Trulieve investors. (Not a current NICI Membership subscriber? You’re free to learn how to join here.)
- 9 in 10 Americans Support Some Form of Cannabis Legalization: An April survey by Pew Research revealed 91% of Americans believe cannabis should be legal for medical use. Even in states where cannabis is still entirely illegal like North Carolina and South Carolina, support for medical cannabis legalization tops 70%. Not only that, but 60% of all Americans support legalizing recreational cannabis – including 47% of all Republicans. The bottom line is that full legalization is inevitable…and it’s that kind of overwhelming support that proves you’re in the right place at the right time as a cannabis investor, even if everyone else can’t always see it.
- Conservative States Make Advances Towards Legalization: On Wednesday, the Nebraska state legislature debated legalizing cannabis for medical use, which would permit residents with qualifying conditions to possess 2.5 ounces of cannabis products, but not flower. Further south, the Louisiana House of Representatives just approved a bill to decriminalize possession of up to 14 grams of cannabis and sent the bill for consideration in the state senate. And Minnesota House of Representatives Majority Leader Ryan Winkler (DFL-MN) said he expects the House to approve a bill legalizing recreational cannabis this week, with significant Republican support. Pressure is mounting fast, and as more states move to legalize, you’ll want to make sure you’re ahead of the game.
- Chuck Schumer Gives an Update on the Future of the SAFE Banking Act: Senate Majority Leader Chuck Schumer (D-NY) said earlier this week that the Senate will not pass the SAFE Banking Act before broader federal legalization. Schumer has been working on a comprehensive federal cannabis reform bill for the last few months, which he plans to introduce “shortly.” The U.S. House of Representatives passed the SAFE Banking Act last month, but Schumer doesn’t plan to hold a vote on it anytime soon. You can read up on what the SAFE Banking Act could mean for cannabis investors here.
That’s it for this week but keep an eye on your inbox for more NICI Snippets.
Executive Director, National Institute for Cannabis Investors
2 responses to “NICI Snippets: 9 in 10 Americans Support Medical Cannabis Legalization While More Conservative States Advance Reform (Here’s What to Know)”
May 13 2021