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Quarantined Americans embrace marijuana, reshaping an industry

BostonGlobe.com

OUR TAKEAWAY

"With 9 in 10 Americans approving of either medicinal or recreational [cannabis] use, more than 20 states deeming medical or recreational sales 'essential' businesses during the pandemic shutdown, and Americans using more weed than usual while they're quarantined, advocates say the crisis will push the federal government to follow the lead of 33 states and legalize cannabis faster than it would have."

Cannabis education arrives at more American universities

Forbes.com

OUR TAKEAWAY

From master growers to extraction scientists, skilled cannabis operators are in high demand, and American universities are ready to supply the necessary training and education.

New Mexico governor says legalizing marijuana would've funded programs cut due to coronavirus

MarijuanaMoment.net

OUR TAKEAWAY

Last week New Mexico Governor Michelle Lujan Grisham voiced that the suspension of capital projects due to the health crisis "likely would not have occurred" if lawmakers had legalized recreational marijuana earlier this year.

Green Peak Innovations and Last Prisoner Project to launch Two Joints brand to fund criminal justice reform efforts

CannabisBusinessTimes.com

OUR TAKEAWAY

Mission-focused business models, made popular by "b-corps" such as Warby Parker and Toms, have found a home in the legal cannabis industry. Green Peak Innovations recently announced a collaboration with the Last Prisoner Project to launch a new brand, Two Joints. One percent of proceeds from Two Joints products sold will go towards the Last Prisoner Project and its mission of criminal justice reform advocacy around cannabis crimes.

OUR TAKEAWAY

Partners in the News: May 21, 2020

At Bengal Capital, we have been fortunate to partner with companies that share our values and are some of the best operators in cannabis. These companies are driving growth and demonstrating the vast potential of the industry. Below we have collected articles that highlight our "partners in the news." GTI becomes the first American cannabis operator to exceed $100 million quarterly revenue: GTI reported first quarter revenue of $102.6m and adjusted EBITDA of $25.5m, both above Wall Street consensus. Grassroots Taneytown cannabis cultivation center completes expansion, offers job openings: Grassroots continues to expand cultivation capacity and captures "a unique opportunity in this unprecedented time to provide jobs."