The governor of Colorado accused Attorney General Jeff Sessions this past weekend of plotting to create doubt in the legal cannabis industry and said he wouldn’t be surprised if the top law enforcer would crackdown on a few legal-state based facilities.

As part of an interview on The Hill’s Power Politics podcast, Colorado Gov. John Hickenlooper (D) said on Saturday (February 24) Sessions “does not think in any way that it’s a good thing for this country to have legal marijuana.”


“After talking with the attorney general, Hickenlooper said he believes the Justice Department wants to “sow doubt” through tough federal action as a way to deter the marijuana trend nationwide,” The Hill wrote.

Sessions has not backed away from his personal stance against a drug gaining popularity with state officials, voters and Republicans, even saying “good people don’t smoke marijuana.”

“I wouldn’t be surprised if he closes down one or two of these facilities just to make that statement,” Hickenlooper said. The governor said he hopes Congress will get involved in the situation.

“Hopefully, in the not-too-distant future, Congress will step in and say, ‘OK, we’re going to allow states to pursue these experiments, and we’re going to let them have banking so it’s not all done in cash,” Hickenlooper said.

Tension between different branches of US government for cannabis policyoptimized-screen-shot-2017-12-20-at-1-48-15-pm-min

In January, Sessions rescinded a memorandum providing cannabis enterprises, in legal states, with validations under a federal level. He then introduced his own guidance allowing all federal prosecutors to target cannabis companies previously protected.

The move from the Attorney General caused a major share price decrease in the cannabis public markets and forced the Canadian Securities Exchange to ask companies with operations in the US, to provide an update on their risk disclosures to shareholders.

So far there hasn’t been a targeted suppression of the legal cannabis industry. However, as an effect of the new Sessions memo, US Attorney for Massachusetts Andrew E. Lelling told the Boston Globe he could not rule out the possibility of federal prosecution for legal cannabis businesses.

Sessions was named as a defendant for a New York lawsuit seeking to change the federal government’s stance on cannabis.

Last year it was revealed the Attorney General even sent a letter to leaders in Congress asking for the removal of the Rohrabacher-Farr amendment. This change would allow the Justice Department to crackdown on the cannabis companies in legal states, as the drug remains illegal at a federal level.

The Department must be in a position to use all laws available to combat the transnational drug organizations and dangerous drug traffickers who threaten American lives,” Sessions wrote in the letter, uncovered by Massroots.

Investor Takeaway

As part of an Investing News Network (INN) investor guide into cannabis companies publicly listed on the CSE, Alan Brochstein, cannabis analyst with 420 Investor said companies were very dependant on the maintenance of the Rohrabacher-Farr amendment.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”), of the important December 1, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Aurora investors under the federal securities laws.

To join the Aurora class action, go to http://www.rosenlegal.com/cases-register-1965.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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Trading resumes in:

Company: 4Front Ventures Corp.

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

  4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (” 4Front ” or the ” Company “) is pleased to announce that it has completed its previously announced bought deal prospectus offering (the ” Offering “) of units of the Company (” Units “), for aggregate gross proceeds of C$17,251,150 including full exercise of the over-allotment option granted to the underwriters in connection therewith.

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Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff

Tactile Systems Technology (NASDAQ:TCMD)
Class Period:
May 7, 2018 – June 8, 2020
Deadline: November 30, 2020
For more info: www.bgandg.com/tcmd

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Khiron Life Sciences Corp. (“ Khiron ” or, the “ Company ”) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), announced today that it has re-filed its unaudited condensed interim consolidated financial statements, together with the notes thereto, for the three and six months ended June 30, 2020 and 2019 (the “ Interim Financial Statements ”) to correct, among other things, certain 2019 comparative period information and to update certain presentation arising from the Company’s early adoption of IFRS 3 in late 2019, which changes were identified in connection with the Company’s review engagement with its auditor. The Company does not consider these adjustments either individually nor in the aggregate, to be material.

The re-filed Interim Financial Statements reflect changes to the Condensed Interim Consolidated Statements of Loss and Comprehensive Loss comparative period to remove transaction fees from the income statement and capitalize them to the applicable acquisition in accordance with the Company’s early adoption of the amended IFRS 3 as set out in Note 2, and to reclassify $1 million from general and administrative expenses to transaction fees for presentation purposes to conform with the Company’s presentation used in its audited consolidated financial statements for the years ended December 31, 2019 and 2018 (the “ Audited Annual Financial Statements ”). The re-filed interim Financial Statements also reflect changes to the Condensed Interim Consolidated Statement of Changes in Shareholders’ Equity to correct the 2019 comparative period balances as they incorrectly reflect Q1 2019 period balances, update certain presentation to conform with the Company’s presentation used in its Audited Annual Financial Statements; and reduce the valuation conclusion of the Company’s acquisition of NettaGrowth International Inc. to conform with the Audited Annual Financial Statements. The re-filed Interim Financial Statements also bring forward the subsequent event note disclosure.

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