ARMADA-
Free Consultation
510-200-8695CALL OR TEXT
ARMADAIn the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.
In today’s news:
#psychedelics – “The relationship between psychedelics and music is not as unidirectional as we might think. While music has been shown to be a valuable aid in psychedelic psychotherapy, it can also be used as a means to obtain concrete evidence of the psychedelics-derived benefits on mood in mental health patients. This was shown by the study illustrated in this article, conducted by a research team at the Imperial College London.”
#cannabisindustry – “The New Jersey Cannabis Regulatory Commission (CRC) took another step toward establishing consumption lounges in the state’s market this week when regulators proposed updated rules for the facilities.
Public comment will be accepted on the rules and amendments until March 18, according to the CRC’s announcement.
The CRC initially approved proposed rules for cannabis consumption lounges at its Dec. 2 meeting.
The new updates in the regulations establish the qualifications, application process and operation instructions for licensed cannabis dispensaries that want to have designated on-site spaces for their customers to consume cannabis.”
#californiacannabis – “It took only 10 minutes but a caught-on-camera heist at an Iselton dispensary and lounge has left local owners with a loss of nearly $250,000 and a plea for the state to do more to protect legal cannabis businesses.
Around 2:57 a.m. Thursday, owners of Isleton’s Delta Boyz say a group of upwards of five burglars in three separate cars broke the small business’s back door.
Once inside, security camera video shows the burglars ransacking a storage room, opening large bins and stealing the top-shelf cannabis flower inside.
“They loaded up their cars to the point where it was so full that they couldn’t even close their doors,” said Jacqueline Eubanks, a manager at Delta Boyz. “Unfortunately, they got away with top-shelf indoor, which is basically some of the highest valued cannabis in our industry.””
#californiacannabis – “According to the complaint, in October 2020, 770 Washington, which owns cannabis shop Washington Sage LLC, delivered a promissory note to R-Squared for the principal sum of $1.12 million, and agreed to pay $210,000 in interest.
Under the terms of the note, 770 Washington was to pay back $235,200 on a monthly basis or 21% of the loan, whichever was greater, with an additional late fee of $23,000 if the payment was more than five days late.
And on default, the note allows R-Squared to declare all sums due immediately, and an additional financial agreement granted R-Squared collateral in the form of 770 Washington’s inventory, equipment and other assets, according to the complaint.”
https://www.law360.com/california/articles/1567371/lender-sues-cannabis-co-over-default-of-1m-loan
#psilocybin – “The first study published in the Journal of Psychopharmacology to investigate the psychological effects of psilocybin among bipolar individuals suggests that the experience is beneficial. However, many others experience unpleasant symptoms as a result of the consumption of the primary psychoactive component of psychedelic “magic mushrooms.””
#californiacannabis – “A cannabis company in Baldwin Park is suing the city, its former city attorney and several other public officials under the federal Racketeer Influenced and Corrupt Organizations Act, or RICO, based on allegations that the city’s rollout of commercial cannabis was rigged to benefit the officials and their allies.
The federal lawsuit, filed Wednesday, Jan. 18, by David Ju, names Baldwin Park, former City Attorney Robert Tafoya, former Deputy City Attorney Anthony Willoughby II, former Councilmember Ricardo Pacheco, former Compton Councilmember Isaac Galvan, former Baldwin Park Mayor Manny Lozano and former Chief Deputy Cty Clerk Lourdes Morales as defendants.
“These individuals acted in concert to orchestrate a swindle on an elderly man dying of cancer who poured his life savings into a venture that was destined for failure from the get-go and nothing more than a collusive scheme marred by bribery and corruption,” wrote attorney David Torres-Siegrist in the lawsuit.”
