Últimas noticias sobre Tilray Brands (NASDAQ:TLRY) Bolsa

Tilray Brands

Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray. The bulk of its sales are in Canada and in the international medical cannabis export market. US exposure consists of CBD products and alcohol.

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Carbon Revolution lidera con un aumento del 62,4% en el premercado. ¿Qué otras acciones destacaron antes de la apertura?

Las acciones de Carbon Revolution (CREV) están subiendo un 62%; 20 acciones que se están moviendo en el premercado

Tilray Brands Inc

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Top 10 Trending Stocks On WallStreetBets As Of December 24, 2024 (Via Swaggy Stocks)

Shares of Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) rose sharply during Tuesday's pre-market session after the company announced it has reached an agreement with OIC for a further $25 million in financing to <a href="https://www.benzinga.com/quote/CREV">support the ongoing liquidity of the business.</a>
Carbon Revolution shares jumped 62.4% to $6.32 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Avinger, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGR#NASDAQ">AVGR</a>) gained 138.2% to $1.53 in pre-market trading. Avinger, last week, announced it has received a Notice of Allowance for a U.S. patent titled &#8220;Catheter Device With Detachable Distal End (For The Treatment Of Peripheral Artery Disease).&#8221;</li>
<li>Tivic Health Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) gained 107% to $0.4650 in pre-market trading after the company's CEO outlined 2025 priorities, seeing a 30% reduction in net operating loss.</li>
<li>NeueHealth, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEUE#NYSE">NEUE</a>) gained 59.2% to $6.86 in pre-market trading after the company announced it has entered into a definitive merger to be acquired for $7.33 per share.</li>
<li>Theriva Biologics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOVX#NYSE">TOVX</a>) rose 38.5% to $1.80 in pre-market trading after the company announced it received a notice of allowance for U.S. Patent Application No. 18.534,962 titled &#8220;Microbiome Protection from Oral Antibiotics.&#8221;</li>
<li>SES AI Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SES#NYSE">SES</a>) shares jumped 37.3% to $0.7150 in pre-market trading.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) gained 35% to $6.61 in pre-market trading after jumping more than 78% on Monday.</li>
<li>Nocera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCRA#NASDAQ">NCRA</a>) rose 32.1% to $1.22 in pre-market trading after gaining around 9% on Monday.</li>
<li>AmpliTech Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) gained 26.3% to $3.12 in pre-market trading after surging around 25% on Monday.</li>
<li>Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) rose 17.5% to $1.68 in pre-market trading after gaining over 13% on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Sol-Gel Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLGL#NASDAQ">SLGL</a>) shares tumbled 42.2% to $0.9540 in pre-market trading after jumping 285% on Monday.</li>
<li>Check-Cap Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHEK#NASDAQ">CHEK</a>) declined 18.7% to $1.83 in pre-market trading after jumping around 270% on Monday.</li>
<li>KORE Group Holdings, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) fell 15% to $1.25 in pre-market trading. KORE announced NYSE acceptance of plan to regain listing compliance.</li>
<li>Nvni Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVNI#NASDAQ">NVNI</a>) fell 12.8% to $4.97 in today's pre-market trading after dipping around 34% on Monday.</li>
<li>Fifth District Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDSB#NASDAQ">FDSB</a>) shares dipped 12.6% to $11.00 in pre-market trading after falling 3% on Monday.</li>
<li>Tutor Perini Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPC#NYSE">TPC</a>) dipped 12.1% to $22.01 in pre-market trading.</li>
<li>Reliance Global Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELI#NASDAQ">RELI</a>) shares fell 11.6% to $2.75 in pre-market trading after jumping 159% on Monday.</li>
<li>Helius Medical Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSDT#NASDAQ">HSDT</a>) fell 6.8% to $0.8950 in pre-market trading after gaining over 5% on Monday.</li>
<li>Lindblad Expeditions Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIND#NASDAQ">LIND</a>) shares fell 9.8% to $11.01 in pre-market trading.</li>
<li>Brookfield Infrastructure Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIPC#NYSE">BIPC</a>) fell 8.7% to $35.01 in pre-market trading.</li>
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Why Carbon Revolution Shares Are Trading Higher By Around 62%; Here Are 20 Stocks Moving Premarket

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<li>CORN</li>
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Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
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Top 10 Trending Stocks On WallStreetBets As Of December 23, 2024 (Via Swaggy Stocks)

Tilray Brands's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NYSE">TLRY</a>) short percent of float has fallen 11.86% since its last report. The company recently reported that it has 108.65 million shares sold short, which is 12.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.56 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Tilray Brands Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734467421_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Tilray Brands has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Tilray Brands's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Tilray Brands's peer group average for short interest as a percentage of float is 15.12%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Dropbox shares are trading higher after the company secured a $2 billion term loan facility led by Blackstone, authorized a $1.2 billion share repurchase program, and stated it expects to meet or exceed Q4 and FY 2024 guidance.

Tilray Brands Announced A New Holiday Campaign Spotlighting A Series Of Cannabis-infused Beverages From Two Of Its Renowned Beverage Brands, XMG And Mollo

The rise of hemp-derived cannabinoids like Delta-8 THC is reshaping the cannabis landscape in the U.S. Touted as legal alternatives to Delta-9 THC, these products have surged in popularity, <a href="https://www.benzinga.com/markets/cannabis/24/08/40561082/delta-8-thc-exposure-is-lower-in-states-where-recreational-marijuana-is-legal-say-researchers-ba">particularly</a> in states where recreational cannabis remains prohibited.
The unregulated nature and potential health risks of these products have ignited fierce debates among policymakers and industry stakeholders. In an exclusive interview with Benzinga, Dr. Carl L. Hart, a renowned neuroscientist, author and the Ziff professor of psychology at Columbia University, offered a stark critique of the current regulatory framework.
<h3 class="wp-block-heading">The Multi-Billion Consequence Of A Legal Loophole</h3>
Delta-9 THC, the primary psychoactive compound in cannabis, <a href="https://www.benzinga.com/markets/cannabis/24/02/36916329/is-marijuana-a-controlled-substance-wait-what-is-a-controlled-substance">remains federally illegal</a>, though several states have legalized it.
This regulatory gray area was further complicated by the 2018 Farm Bill, which <a href="https://www.benzinga.com/markets/cannabis/24/07/39783607/how-hemp-became-americas-loophole-for-legal-highs">legalized hemp and its derivatives</a>, provided they contain less than 0.3% Delta-9 THC by dry weight. This created a loophole that allowed hemp-derived <a href="https://norml.org/marijuana/fact-sheets/normls-guide-to-delta-8-and-other-novel-cannabinoids/">cannabinoids</a> to flourish, offering effects similar to marijuana but sidestepping federal regulation.
As a result, products like hemp-THC gummies, <a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss">beverages</a> and vape cartridges have surged in popularity, often marketed as legal alternatives to cannabis. Delta-8 THC products alone generated an estimated $1.2 billion in sales in 2023, <a href="https://www.benzinga.com/government/regulations/24/11/41851368/hemp-market-surge-how-new-regulations-could-impact-growth">according</a> to Cannabis Business Times.
However, despite the growth of the hemp-derived market, major cannabis companies like Curaleaf Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) and Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) are <a href="https://www.benzinga.com/markets/cannabis/24/07/39820619/strategy-shift-in-the-works-are-cannabis-giants-getting-into-the-hemp-derived-thc-market">expanding into this space</a>, Hart sees it as indicative of confusion rather than progress.
The core issue, according to Hart, is the <a href="https://www.benzinga.com/markets/cannabis/24/09/40878965/should-delta-8-thc-be-regulated-its-a-total-free-for-all-says-industry-expert">unregulated production</a> of these cannabinoids. Since many hemp-derived cannabinoids are synthesized from <a href="https://www.benzinga.com/markets/cannabis/24/01/36584043/real-weed-or-a-lab-high-delta-8-and-delta-9-thc-explained">hemp-extracted CBD</a>, the chemical conversion process can introduce contaminants, leading to inconsistent product quality.
&#8220;It has less to do with the compounds and more to do with the situation under which these compounds are being produced,&#8221; he explained.
<h3 class="wp-block-heading">Public Health Risks Of Unregulated Products</h3>
Hart stressed that the rise of hemp-derived cannabinoids mirrors past public health crises linked to drug prohibition. Drawing a parallel to <a href="https://www.benzinga.com/markets/cannabis/22/08/28416682/study-dangerous-synthetic-cannabinoids-poisonings-are-less-common-in-legal-cannabis-states">synthetic cannabinoids like Spice and K2</a>, he explained how banning substances without offering safe alternatives drives consumers toward unregulated and <a href="https://www.benzinga.com/markets/cannabis/24/04/38151776/93-of-smokable-hemp-exceeds-legal-thc-limit-government-funded-study-finds">often dangerous options</a>.
"Whenever you have unregulated markets… potential harms go away when you regulate the market," he said, likening the current scenario to the issues faced during alcohol prohibition. He also highlighted parallels with the <a href="https://www.benzinga.com/markets/cannabis/24/09/40990399/fentanyl-laced-with-toxic-chemical-btmps-raises-alarms-nationwide-experts-warn-of-danger">fentanyl</a> crisis, where unregulated drug markets <a href="https://www.benzinga.com/markets/cannabis/24/07/39672165/could-heroin-be-preventing-the-spread-of-fentanyl-in-spain">led to dangerous substitutions</a>.&nbsp;
Federal cannabis legalization, he says, would mitigate these risks by providing safe, regulated products.
<h3 class="wp-block-heading">Economic And Political Incentives Sustain Prohibition</h3>
The persistence of federal <a href="https://www.benzinga.com/markets/cannabis/24/02/36310179/marijuanas-prohibition-promotes-unregulated-weed-use-study-finds">cannabis prohibition</a>, despite evidence of its harm to public health, reflects deep-rooted economic interests, according to Hart. He pointed to the financial incentives that fuel resistance to reform.
"Law enforcement benefits. Not only law enforcement. Science benefits. Homeland Security benefits. The Drug Enforcement Agency benefits," he said. These institutions, he argued, have little motivation to support policies that could reduce their funding, highlighting their interest in maintaining prohibitionist policies.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
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Moreover, the political influence of the hemp industry further complicates the landscape. For instance, in Florida, <a href="https://www.benzinga.com/markets/cannabis/24/11/41726320/hemp-donations-fuel-desantis-and-florida-gops-charge-against-weed-legalization-new-findings">hemp companies donated over $500,000</a> to Governor Ron DeSantis and the state's GOP to oppose Amendment 3, which sought to legalize adult-use cannabis.
The amendment fell <a href="https://www.benzinga.com/markets/cannabis/24/11/41763514/florida-rejects-cannabis-legalization-amendment-supported-by-trump-detested-by-desantis">short</a> and hemp businesses, wary of competition from a regulated marijuana industry, succeeded in maintaining their market dominance undisturbed.
<h3 class="wp-block-heading">Fragmented State Hemp Regulations Add To The Problem</h3>
Meanwhile, inconsistent state regulations exacerbate the challenges posed by unregulated hemp products. States like California, Louisiana and South Dakota have <a href="https://www.benzinga.com/markets/cannabis/24/07/39610764/intoxicating-hemp-products-face-regulatory-crackdown-across-multiple-states">imposed</a> strict regulations or outright bans on hemp-derived THC, attempting to close loopholes.&nbsp;
These measures have been partly prompted by concerns over <a href="https://www.benzinga.com/markets/cannabis/24/07/39828962/fda-accuses-companies-of-marketing-cannabis-products-to-children-amid-debate-on-hemp-cannabinoid">misleading marketing tactics</a>, including products that resemble children&#8217;s snacks, raising alarms about potential risks to minors.
Read Also: <a href="https://www.benzinga.com/government/regulations/24/11/41851368/hemp-market-surge-how-new-regulations-could-impact-growth">Hemp Market Surge: How New Regulations Could Impact Growth</a>
Furthermore, these state-level bans also create unintended consequences. They impact <a href="https://www.benzinga.com/markets/cannabis/24/09/41051849/californias-hemp-restrictions-could-stifle-broader-access-to-therapeutic-products-expert-warns">reputable producers</a> and <a href="https://www.benzinga.com/markets/cannabis/24/09/40906131/this-is-life-or-death-families-of-disabled-children-panic-over-gov-newsoms-hemp-cbd-ban-and-eval">CBD users</a> who rely on consistent, reliable hemp products. Hart criticized this fragmented regulatory approach and emphasized the need for federal oversight, calling for a <a href="https://www.benzinga.com/markets/cannabis/24/09/40833963/expert-calls-for-a-united-hemp-and-cannabis-front-industries-should-collaborate-and-push-for-fed">unified framework</a> that ensures consistency across states.
<h3 class="wp-block-heading">Disproportionate Impact On Marginalized Communities</h3>
The regulatory chaos surrounding hemp-derived cannabinoids also highlights broader inequities in U.S. drug policy. Hart emphasized that Black and Latino populations remain <a href="https://www.benzinga.com/markets/cannabis/23/09/34826776/treating-drug-users-as-criminals-only-makes-matters-worse-says-un-official-latest-global-cannabi">disproportionately affected</a> by arrests, fines and imprisonment for drug-related offenses, despite similar cannabis use rates across demographics.
His perspective challenges investors and industry players to acknowledge the larger context. The unregulated hemp cannabinoid surge reflects a systemic malfunction, one fueled by inconsistent laws and profit-driven deterrents to genuine reform.
<h3 class="wp-block-heading">Toward Evidence-Based Drug Policy Reform</h3>
As debates around hemp-derived cannabinoids intensify, Hart remains firm in his belief that straightforward solutions are available.
Although he expressed skepticism that the U.S. will embrace <a href="https://www.benzinga.com/markets/cannabis/23/06/33000216/united-nations-calls-for-end-to-global-war-on-drugs-health-and-human-rights-instead-of-punishmen">evidence-based policies</a> anytime soon, Hart insists that the facts remain unchanged: properly regulated markets lead to safer products, safeguard user rights and reduce harm across the board.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/24/11/42068539/billion-dollar-strike-farm-bill-amendment-could-change-the-hemp-industry">Billion-Dollar Strike: Farm Bill Amendment Could Change The Hemp Industry</a></li>
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Photo credits: <a href="https://www.flickr.com/photos/fronteirasweb/51713751348/in/photostream/">Flickr</a> &#8211; Fronteiras do Pensamento / Greg Salibian

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EXCLUSIVE: Drug Expert Dr. Carl Hart Slams Cannabis Prohibition Amid Hemp-THC Surge

In a recent note, senior analyst Pablo Zuanic digs into the financial standing and valuation of Village Farms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>), the <a href="https://www.benzinga.com/markets/cannabis/24/11/41726679/village-farms-is-only-cannabis-operator-selected-to-represent-weed-industry-at-dea-rescheduling-">only cannabis company </a>anointed by the Drug Enforcement Agency (DEA) as one of the 25 DPs ("designated participants") in the <a href="https://www.benzinga.com/24/12/42270539/dea-live-hearing-on-marijuana-rescheduling-what-to-expect">administrative hearing</a> for the rescheduling of cannabis to Schedule III.
According to Zuanic, the company experienced temporary sales disruptions in the second half of the year, primarily due to stockouts caused by strong first-half demand. These disruptions are expected to normalize by the first quarter of 2025. Although the overall demand for Canadian recreational cannabis is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41599546/canadas-cannabis-market-goes-cold-pot-prices-hit-bottom-why-top-producers-are-losin">slowing down</a>, Village Farms has been able to increase prices for some SKUs.
<ul>
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<h3 class="wp-block-heading">Global Reach And Scale</h3>
Beyond Canada, Village Farms is focused on growing its international business, particularly in Germany, <a href="https://www.benzinga.com/topic/australia-cannabis">Australia</a>, and the UK. It plans to allocate Canadian production based on return on investment (ROI) and may consider minority investments in <a href="https://www.benzinga.com/general/market-summary/24/11/42126680/german-cannabis-20-tons-10m-grams-and-thats-only-0-3-of-the-market-whats-missing">international markets</a>.
The company will prioritize its branded domestic cannabis business and<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39609582/europe-is-turning-cash-flow-positive-well-see-what-happens-in-the-u-s-largest-canna"> international sales</a>. It will reduce B2B sales for domestic purposes and allocate more output to its branded products.
Branded sales margins are recovering to the 30-40% range and B2B margins are increasing due to higher prices and increased overseas demand. Zuanic noted approximately one-third of domestic B2B sales are re-exported to <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a>.
Read Also:<a href="https://www.benzinga.com/government/regulations/24/11/42198793/prohibitionist-group-denies-collusion-allegations-ahead-of-dea-cannabis-rescheduling-hearing"> Prohibitionist Group Denies Collusion Allegations Ahead Of DEA Cannabis Rescheduling Hearing</a>
<h3 class="wp-block-heading">Market Share </h3>
Hifyre data for October and November shows a sequential improvement in the Canadian recreational cannabis market, with a year-over-year growth of 6.7%. However, Village Farms experienced a deceleration to 1% year-over-year growth.
<ul>
<li>Among the top 10 players, Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) (-21%), Decibel (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DBCCF#OTC">DBCCF</a>) (-23%), and Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) (-21%) experienced a decline in growth. On the other hand, Cannara (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LOVFF#OTC">LOVFF</a>) (+67%) and WeedMD (+23%) saw significant growth.&nbsp;</li>
<li>OGI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) (+13%), Auxly (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>) (+33%), Motif (+10%), and Cronos Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) (+4%) also exhibited positive growth.</li>
<li>In terms of November market share, Tilray (TLRY) (9.1%) held the largest share, followed by OGI (7.0%), VFF (6.2%), Auxly (5.6%), Motif (5.3%), Cronos Group (5.1%), Decibel (4.7%), Cannara (4.0%), WeedMD (2.9%), and Canopy Growth (2.3%).</li>
</ul>
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/11/41805907/village-farms-quarterly-revenue-grows-20-yoy-as-the-cannabis-company-doubles-international-sales"> Village Farms Quarterly Revenue Grows 20% YoY As The Cannabis Company Doubles International Sales</a>
<h3 class="wp-block-heading">Valuation </h3>
Zuanic<a href="https://zuanicgroup.com/"> argues</a> that Village Farms' stock is undervalued due to its complex business model and gradual growth strategy, despite its strong performance in the Canadian cannabis market, international expansion and potential US opportunities. 
He calculates the company&#8217;s enterprise value (EV) to be around US$120 million. This valuation implies a low multiple of 0.4x current sales estimates and 5.6x EBITDA.
Zuanic says the market is not fully recognizing the value of VFF&#8217;s assets. 
If we strip out the value of the produce business, US CBD operations and <a href="https://www.benzinga.com/topic/texas-cannabis">Texas</a> greenhouses, Zuanic suggests that the remaining valuation for the cannabis unit is around US$19 million, or 0.1x estimated 2025 sales and 3x EBITDA. This is significantly lower than the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41811378/aurora-vs-canopy-tilray-which-nasdaq-listed-cannabis-stock-offers-the-best-growth-p"> valuations of other major cannabis companies</a> like <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41613366/beyond-beer-tilrays-1-67-billion-market-play-is-this-cannabis-giant-still-a-smart-b">Tilray</a> and Aurora Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>).
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41925770/three-paths-to-cannabis-profits-village-farms-green-thumb-and-jushi-show-divergent-">Three Paths To Cannabis Profits: Village Farms, Green Thumb, And Jushi Show Divergent Strategies—Which Will Deliver?</a>

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DBCCF

Are You Missing Out On This NASDAQ-Listed Weed Stock? Low-Cost Model Meets European Demand

Decibel Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DBCCF#OTC">DBCCF</a>) is poised for significant growth, as outlined in a recent report by Zuanic &amp; Associates, which highlights Decibel&#8217;s robust cash flow generation as a key strength. 
With a projected free cash flow (FCF) of $20 million for 2025, the company boasts a significant FCF yield of 54%.&nbsp;
"With a leading franchise in Canadian pre-rolls (the category is as big as Flower in Canada rec now)&#8230;we believe Decibel should trade more in line with the larger market cap LP stocks (especially with debt leverage projected below 1.4x for next year)," senior analyst <a href="https://www.benzinga.com/topic/pablo-zuanic">Pablo Zuanic</a> wrote in the report.&nbsp;
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Market Trends, Decibel's Performance</h3>
The <a href="https://www.benzinga.com/topic/canada-cannabis">Canadian recreational cannabis market</a> saw an improvement in October and November, with a year-over-year increase of 6.7%. However, Decibel continued to experience significant <a href="https://www.benzinga.com/24/11/42137701/canadian-cannabis-co-decibel-reports-12-yoy-drop-in-q3-revenue-but-increases-gross-margin-to-53">sales declines</a>, dropping by 23% year-over-year.
While other major players like Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) and Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) also experienced sales declines, companies like Auxly (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>) and Cannara (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LOVFF#OTC">LOVFF</a>) showed substantial growth.
In terms of market share, Tilray maintained the top position, followed by Organigram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) and Village Farms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>). Decibel held a 4.7% market share in November.
<ul>
<li>Pre-rolls: Decibel&#8217;s core-infused<a href="https://www.benzinga.com/topic/pre-rolls"> pre-roll segment</a>, while still a significant contributor to revenue, has seen a decline in market share. "Over 97% of Decibel pre-roll sales come from the infused segment (3Q24), where Decibel has seen share erosion; after peaking at 57% in 2Q23, this was 35% in 3Q24 (1Q24 48%; 2Q24 41%)," reads <a href="https://zuanicgroup.com/">Zuanic's report</a>.&nbsp;</li>
</ul>
<ul>
<li>Vapes: Decibel&#8217;s total <a href="https://www.benzinga.com/topic/vapes">vape share</a> fell to 9.7% in 3Q24 from 11.8% in 3Q23, although the company has adapted well to the growing AIO segment. "Decibel has adapted well in AIOs now 29% of its vape sales and is #3 in the AIO segment with a 13% share," Zuanic noted.&nbsp;</li>
</ul>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41600492/decibel-acquires-agmedica-announces-private-placement-and-third-quarter-guidance">Decibel Acquires AgMedica, Announces Private Placement And Third Quarter Guidance</a>
<h3 class="wp-block-heading">Strategic Acquisition</h3>
The <a href="https://www.benzinga.com/news/financing/24/11/42164794/decibel-cannabis-raises-1-18m-secures-capital-for-agmedica-bioscience-integration">acquisition of AgMedica is a strategic move</a> that will significantly enhance Decibel&#8217;s market position and growth prospects. By expanding its product portfolio, distribution network, and market share, Decibel aims to capitalize on the growing Canadian cannabis market. Key benefits include:
<ul>
<li>Expanded Product Range: AgMedica brings a diverse range of products, including flowers, pre-rolls, edibles, and concentrates.</li>
<li>Enhanced Distribution Network: The acquisition will expand Decibel&#8217;s reach, allowing it to tap into new markets and customer segments.</li>
<li>Strengthened Market Position: By combining the strengths of both companies, Decibel aims to solidify its position as a leading player in the Canadian cannabis market.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/12/42297466/decibel-receives-final-tsx-venture-exchange-acceptance-for-agmedica-acquisition-and-debenture-conversion">Decibel Receives Final TSX Venture Exchange Acceptance For AgMedica Acquisition And Debenture Conversion</a>
<h3 class="wp-block-heading">Zuanic's Thesis </h3>
For Zuanic, Decibel offers a compelling investment opportunity due to its financial position and growth prospects. With a projected FCF of $20 million for 2025, the stock offers a significant FCF yield of 54%.&nbsp;
Additionally, its low valuation multiples of 0.5x sales and 2.8x EBITDA make it an attractive investment. "Although we do not set price targets, at 1-2x our CY26 sales estimates, the stock could be 6-10x higher by Dec'25 vs. current levels," Zuanic concluded.&nbsp;
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41599546/canadas-cannabis-market-goes-cold-pot-prices-hit-bottom-why-top-producers-are-losin">Canada&#8217;s Cannabis Market Goes Cold, Pot Prices Hit Bottom: Why Top Producers Are Losing Ground</a>

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Decibel Cannabis: One Acquisition Could Be The Key To Unlocking $20M In Cash Flow

Hop Valley Brewing And Subsidiary Of Tilray Brands, Is Excited To Announce Its New Partnership With The Portland Trail Blazers And The Opening Of The Hop Valley Brewing Hop Box Bar Inside Moda Center

Court Of Chancery Of The State Of Delaware Ruled In Favor Of Tilray And Granted Summary Judgment For Tilray And Its Directors.

<a href="https://www.marijuanamoment.net/dea-judge-wont-remove-agency-from-marijuana-rescheduling-hearing-but-raises-concerns-about-alleged-unlawful-contact-with-prohibitionists/">https://www.marijuanamoment.net/dea-judge-wont-remove-agency-from-marijuana-rescheduling-hearing-but-raises-concerns-about-alleged-unlawful-contact-with-prohibitionists/</a>
A Drug Enforcement Administration (DEA) judge has denied a motion to remove the agency from its role in an upcoming marijuana rescheduling hearing—though he sharply criticized responses from DEA and a prohibitionist group over an allegation that they unlawfully communicated during the cannabis rulemaking process.
With <a href="https://www.marijuanamoment.net/dea-posts-details-on-next-weeks-marijuana-rescheduling-hearing-including-live-stream-and-documents-portal/">the initial rescheduling hearing set for next week</a>, DEA Administrative Law Judge (ALJ) John Mulrooney has been addressing multiple motions from interested parties, largely centering around witness participation in the proceedings.
But one motion from two designated participants—Hemp for Victory and Village Farms International—made an especially bold assertion: It alleged DEA effectively conspired with Smart Approaches to Marijuana (SAM), an anti-cannabis group that was selected to serve as a witness. And that alleged ex parte communication, coupled with DEA's apparent indecision over the proposed rule, should be grounds to remove the agency as the designated "proponent" of the rescheduling rule.
Mulrooney had already indicated that it's statutorily beyond ALJ authority to take that action, and he formally denied the motion on Wednesday.
"There is no question that the allegations raised by the [ex parte motion (EPM)] are distasteful and arguably unhelpful to the public's perception that the proceedings will be transparent," the order says. "That said, this tribunal is without authority to grant the supplementation and removal relief sought (the only relief sought) by the Movants."
But the judge also took the opportunity to more substantively address the allegations of unlawful communications between DEA and SAM, rebuking both parties' <a href="https://www.marijuanamoment.net/dea-says-it-didnt-conspire-with-anti-marijuana-group-dismissing-allegedly-illegal-talks-as-gossip/">response briefs that categorically denied the claims of misconduct</a>.
He said that, "in view of the nature of the allegations, the denial of the EPM does not finish the job."
After describing ex parte statutes in the Administrative Procedures Act (APA) and Controlled Substances Act (CSA), Mulrooney challenged DEA's "bold declarations" that it was innocent of violating the rules. He wrote that "these seemingly courageous proclamations are quickly all but eviscerated by the Government's surprising qualification that this proclamation of innocence extends only to the ‘DEA counsel of record.'"
That is, DEA denied the improper contacts, but only for its counsel of record in the hearing, whereas the motion that raised the allegations were not limited to only those officials.
"Thus, the Government defended against an allegation that was never actually leveled, and never dealt with the true gravamen of the factual allegations of the EPM," the order says. "Stated differently, the Government responded to an allegation that it created, not the one that was in issue."
"As discussed, supra, the applicable APA provisions are not so slender or lacking in common sense as to limit their applicability to a Government trial team who was never alleged to have made the communication in the first place. In its peculiar, semi-blanket denial, the Government did not happen to address staff members who actually may have made the purported communication, or those who may have been advising the Administrator at the time she was making decisions about whether there would be a rescheduling action, and who (if anyone) would sign the [notice of proposed rulemaking]."
The judge also noted that there's "no indication in its [DEA's response] that the Government has made even the mildest attempt to ascertain the truth and disclose it to the public and this tribunal."
Mulrooney further took SAM to task over its separate response to the allegations. The prohibitionist group maintained, for example, that any ex parte communications would have had to occur after the notice of proposed rulemaking was published, signaling that SAM President Kevin Sabet's talks with confidential sources at DEA that he posted about on social media ahead of the notice would not qualify as unlawful under the statute.
"This argument misleadingly omits from its analysis that portion of the relevant APA section that incorporates the critical qualifier ‘unless the person responsible for the communication has knowledge that it will be noticed, in which case the prohibitions shall apply beginning at the time of his acquisition of such knowledge,'" the order says.
The judge said "it would defy reason to suggest that Dr. Sabet and whoever in the DEA he may have spoken to were not aware that decisions in this matter were imminent."
"Such decisions would include not only whether the DEA Administrator intended to sign and support the goal of the NPRM, but also, who would be ultimately identified as a Designated Participant (or at least, what criteria would be used in reaching that determination)," he said.
"By SAM's reckoning even if a prospective party to a rulemaking proceeding were to spend hours advocating its position to the decider on the day before publication in the Federal Register, that public servant (who would clearly have had knowledge of the publication) would have no obligation to reveal that to a soul; not to the public, not to the parties who were not invited, not to the administrative record, and certainly not to any reviewing courts. This indeed would be a very restrictive view of the ethical obligations of a public servant, and perhaps less transparency than the public might expect from its government."
SAM also contended that there's no evidence that the alleged communications with DEA concerned the merits of the rescheduling proposal, so they could not therefore be considered ex parte.
Mulrooney agreed that merit is a key component of the statute at play, but "as is often the case with secret communications, by design the act of shielding the contents from others inhibits the ability to discover their contents."
"There is no context as to the conversation surrounding Dr. Sabet's social media announcements regarding his ‘two confidential sources inside [the] DEA,' or why those sources would be close enough to the Administrator to render their obvious violations of her confidence to be deemed reliable," he said.
"It is also challenging to interpret the comments Dr. Sabet allegedly posted as a status check. Likewise requiring some level of creativity is reconciling SAM's argument that rescheduling proceedings had not commenced with its current position that Dr. Sabet was performing a status check. Stated differently, if there were no proceedings yet in existence, what would Dr. Sabet have been checking the status of?"
"SAM dismisses the allegation essentially on the basis that others (including some who publicly favor the NPRM) were equally loquacious on social media," the order says. "An inescapable point here is that (unlike SAM) none of those others are DPs in this case, and based on the motion practice to date, many of those not selected to participate do not seem to have an understanding as to why that is true."
In light of all this, the ALJ said his job was then to determine whether the allegation of illegal communications justified an order to have the government and SAM prove their ex parte innocence.
"As unappetizing as this whole misadventure appears, the remedy test for improper ex parte communications is whether the communication materially affected or will affect the way a given case is or has yet been decided," he said.
"Dr. Sabet (for whatever his reasons were) elected to alert the world through social media that he was receiving privileged information from those close to Agency leadership. When he told the world, he also told the Movants. The Movants knew about Dr. Sabet's online bragging before these proceedings began. At this juncture, this question hinges on ‘whether, as a result of improper ex parte communications, the agency's decisionmaking process [has been or would be] irrevocably tainted so as to make the ultimate judgment of the agency unfair, either to an innocent party or to the public interest that the agency [is] obligated to protect.'"
"Here, because I have concluded that, at least based on the papers I have, there is insufficient basis to support such a conclusion, even if every fact alleged in the EPM were assumed arguendo to be accurate, no order to show cause will issue," he said.
That is, without an "ultimate judgment" being rendered in the rescheduling proceedings at this stage, the judge said he could not order DEA or SAM to further establish that they didn't engage in the alleged conduct.
Meanwhile, in a prehearing statement submitted to Mulrooney on Tuesday, <a href="https://www.marijuanamoment.net/federal-health-officials-rejected-deas-request-to-testify-at-marijuana-rescheduling-hearing-agency-tells-judge/">DEA previewed the testimony its own witnesses plan to provide</a>&nbsp;at the upcoming hearing—without clarifying where it stands on the rescheduling proposal.
The agency also said that the U.S. Department of Health and Human Services (HHS)—which carried out a scientific review that informed the proposal to move cannabis to Schedule III—"rejected" its request to provide witnesses.
While the initial preliminary hearing is scheduled for December 2, the merit-based proceedings were delayed until at least early 2025 after Mulrooney notified DEA that it provided insufficient information about&nbsp;<a href="https://www.marijuanamoment.net/dea-judge-issues-order-approving-and-denying-witnesses-for-marijuana-rescheduling-hearing-and-laying-out-next-steps/">the 25 selected witnesses that DEA Administrator Ann Milgram submitted</a>.
Separately, the judge last week&nbsp;<a href="https://www.marijuanamoment.net/researcher-asks-dea-judge-to-postpone-marijuana-rescheduling-hearing-until-after-trump-takes-over/">denied a request from a cannabis and psychedelics researcher</a>&nbsp;to postpone the upcoming rescheduling hearing over the agency's alleged "improper blocking" of witnesses, while arguing that the process should be halted at least until President-elect Donald Trump's administration comes into power so it can review the rulemaking.
Mulrooney also&nbsp;<a href="https://www.marijuanamoment.net/dea-judge-rejects-veterans-groups-petition-to-participate-in-marijuana-rescheduling-hearing/">rejected a veterans group's petition to participate in the rescheduling hearing</a>, which the organization called a "travesty of justice" that excludes key voices that would be affected by the potential policy change.
For what it's worth, Vice President Kamala Harris said recently that part of the reason for the delay in the administration's marijuana rescheduling effort is&nbsp;<a href="https://www.marijuanamoment.net/kamala-harris-blames-marijuana-rescheduling-delay-on-dea-bureaucracy-while-defending-her-own-prosecutorial-record/">federal bureaucracy that "slows things down," including at DEA.</a>
In March, Harris also expressed some frustration with the bureaucratic process of rescheduling marijuana, prior to DOJ's formal recommendation,&nbsp;<a href="https://www.marijuanamoment.net/watch-live-vp-harris-talks-marijuana-ahead-of-white-house-meeting-with-cannabis-pardon-recipients/">calling on DEA to expediently finish the job</a>.
While the Biden–Harris administration facilitated the review that led to the DOJ rescheduling proposal, Trump has also voiced support for the reform.
In Congress, numerous lawmakers have shared their own perspectives on the proposed reform with DEA and DOJ since the Schedule III announcement was made.
In August, for example, Sen. Chuck Grassley (R-IA)&nbsp;<a href="https://www.marijuanamoment.net/gop-senator-demands-answers-on-rush-to-reschedule-marijuana-from-top-biden-administration-officials/">raised concerns about the Biden administration's justification</a>&nbsp;for recommending marijuana rescheduling, demanding answers to questions from federal agencies about how they arrived at that decision in what he described as a rushed and unconventional administrative process.
A week earlier, top Democratic senators—including&nbsp; Senate Majority Leader Chuck Schumer (D-NY)—sent a separate letter to DOJ's Garland and DEA's Milgram urging the agencies to&nbsp;<a href="https://www.marijuanamoment.net/schumer-booker-and-other-senators-push-dea-to-promptly-finalize-marijuana-rescheduling/">"promptly finalize" the rule to reschedule marijuana</a>.
While rescheduling would remove certain research barriers and free up state-licensed cannabis business to take federal tax deductions under the Internal Revenue Service (IRS) code known as 280E, it would not federally legalize marijuana, as the&nbsp;<a href="https://www.marijuanamoment.net/marijuana-businesses-could-advertise-in-newspapers-and-magazines-if-rescheduling-is-approved-congressional-researchers-say/">Congressional Research Service (CRS) has made known in multiple recent reports</a>.
Meanwhile, two additional congressional lawmakers have joined the ranks of GOP members who are challenging what they say is&nbsp;<a href="https://www.marijuanamoment.net/gop-lawmakers-demand-answers-from-biden-administration-about-unusual-marijuana-review-process-behind-rescheduling-push/">the "unusual" process that led the Biden administration to propose rescheduling marijuana</a>, expressing concern about how the review was carried out and demanding answers.
Rep. Doug LaMalfa (R-CA)&nbsp;<a href="https://www.marijuanamoment.net/gop-congressman-says-marijuana-rescheduling-and-banking-reform-would-prop-up-an-immoral-industry/">condemned the Biden administration's push to reclassify marijuana</a>, as well as legislative efforts to enact bipartisan cannabis banking reform, because he says the policy changes would "prop up this immoral industry" and give a "green light to the evil that comes from drug use."
Sen. Bill Cassidy (R-LA) also blasted the Biden administration over what he described as&nbsp;<a href="https://www.marijuanamoment.net/gop-senator-condemns-lack-of-transparency-in-marijuana-rescheduling-process/">repeated refusals from federal agencies to brief Congress</a>&nbsp;on its plans and justification for rescheduling marijuana, which he argues fuels speculation that the proposed policy change is politically motivated.
Similarly, 25 GOP congressional lawmakers sent a public comment letter in July opposing the administration's planned rescheduling of marijuana, specifically alleging&nbsp;<a href="https://www.marijuanamoment.net/gop-lawmakers-push-justice-department-to-reverse-course-on-marijuana-rescheduling/">the government's recommendation was based on politics rather than science</a>.

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'DEA Judge Won't Remove Agency From Marijuana Rescheduling Hearing, But Raises Concerns About Alleged Unlawful Contact With Prohibitionists' - Marijuana Moment

<a href="https://www.dea.gov/stories/2024/2024-11/2024-11-26/dea-hold-hearing-rescheduling-marijuana#:~:text=WASHINGTON%20%E2%80%93%20Formal%20hearing%20proceedings%20regarding,Navy%20Drive%2C%20Arlington%2C%20VA" title="https://www.dea.gov/stories/2024/2024-11/2024-11-26/dea-hold-hearing-rescheduling-marijuana#:~:text=WASHINGTON%20%E2%80%93%20Formal%20hearing%20proceedings%20regarding,Navy%20Drive%2C%20Arlington%2C%20VA">https://www.dea.gov/stories/2024/2024-11/2024-11-26/dea-hold-hearing-rescheduling-marijuana#:~:text=WASHINGTON%20%E2%80%93%20Formal%20hearing%20proceedings%20regarding,Navy%20Drive%2C%20Arlington%2C%20VA</a>.

DEA Says Formal Hearing Proceedings Regarding Proposed Rescheduling Of Marijuana Will Begin On Dec 2 At 9:30 a.m. ET

<a href="https://www.marijuanamoment.net/federal-health-officials-rejected-deas-request-to-testify-at-marijuana-rescheduling-hearing-agency-tells-judge/" title="https://www.marijuanamoment.net/federal-health-officials-rejected-deas-request-to-testify-at-marijuana-rescheduling-hearing-agency-tells-judge/">https://www.marijuanamoment.net/federal-health-officials-rejected-deas-request-to-testify-at-marijuana-rescheduling-hearing-agency-tells-judge/</a>

'Federal Health Officials 'Rejected' DEA's Request To Testify At Marijuana Rescheduling Hearing, Agency Tells Judge' - Marijuana Moment

<a href="https://www.marijuanamoment.net/democratic-congressional-lawmakers-push-biden-to-issue-marijuana-executive-order-before-trump-takes-office/" title="https://www.marijuanamoment.net/democratic-congressional-lawmakers-push-biden-to-issue-marijuana-executive-order-before-trump-takes-office/">https://www.marijuanamoment.net/democratic-congressional-lawmakers-push-biden-to-issue-marijuana-executive-order-before-trump-takes-office/</a>

'Democratic Congressional Lawmakers Push Biden To Issue Marijuana Executive Order Before Trump Takes Office' - Marijuana Moment

Cannabis giant Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) announced the latest small batch indica strain by its craft cannabis brand, Broken Coast: Platinum Pavé. This new cultivar is one of the first from Broken Coast&#8217;s state-of-the-art Vancouver Island, BC facility. Platinum Pavé is grown under optimized conditions in single-strain, laboratory-grade rooms. Each batch is precisely pruned, slowly cold cured and rigorously inspected for purity.
"We're excited for consumers to get their hands on this exceptional indica," stated Kevin Anderson, master grower at Broken Coast. "After phenohunting over 500 seeds, we're extremely proud to cultivate a strain with potent THC and a unique terpene profile. With our slow cold curing process, we take pride in preserving trichome density, delivering the purest expression of the Spritzer x Pavé cross to deliver something special."
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41811378/aurora-vs-canopy-tilray-which-nasdaq-listed-cannabis-stock-offers-the-best-growth-p">Aurora vs. Canopy &amp; Tilray: Which NASDAQ-Listed Cannabis Stock Offers The Best Growth Potential?</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">Platinum Pavé Higlights</h2>
<ul>
<li>Lineage: Spritzer x Pavé.</li>
<li>Aromas: Sweet, earthy with a potent hint of diesel.</li>
<li>Rich terpene profile featuring: Limonene, Caryophyllene, Linalool.</li>
<li>THC range:&nbsp;Potent and suitable for winding down after a long day or enjoying socially.</li>
</ul>
Despite the laborious process, the team is dedicated to thoughtfully choosing strains and refining their growing and curing techniques to develop the best product possible. Platinum Pavé joins Broken Coast's renowned craft cannabis portfolio, including Cherry Cheesecake, EmergenZ, Sour OG, Holy Grail Kush, Amnesia Haze, and most recent fan favorite, Milk &amp; Cookies.
Craft flower enthusiasts can experience the handcrafted genetics of Broken Coast&#8217;s Platinum Pavé, available in 7g exclusively in British Columbia, with 3.5g whole flower, and in pre-rolls – 3&#215;0.5g and 5&#215;0.5g multipacks coming to Ontario and Alberta in the new year.
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Tilray Introduces New Indica Strain With 'Potent THC And A Unique Terpene Profile'

<a href="https://www.marijuanamoment.net/dea-says-it-didnt-conspire-with-anti-marijuana-group-dismissing-allegedly-illegal-talks-as-gossip/">https://www.marijuanamoment.net/dea-says-it-didnt-conspire-with-anti-marijuana-group-dismissing-allegedly-illegal-talks-as-gossip/</a>
The Drug Enforcement Administration (DEA) and the prohibitionist group Smart Approaches to Marijuana (SAM) have categorically denied allegations that they illegally conspired together during the Biden administration's marijuana rescheduling process.
In a response to a motion seeking to remove DEA from the rescheduling proceedings over alleged ex parte communications with SAM, the agency on Monday said it "unequivocally denies" the charge and requested a dismissal of the motion from Hemp for Victory and Village Farms International.
"Movants' own evidence fails to demonstrate that any unlawful ex parte communication took place," DEA said in its brief with the administrative law judge (ALJ) overseeing the case. "The Movants would have this tribunal embark on a fishing expedition in search of evidence to support these sweeping, unsupported claims, which at best can be categorized as gossip, not ex parte communications."
The original filing included screenshots of social media posts where the group's president, Kevin Sabet, indicated he had private conversations with DEA officials about the rescheduling effort as SAM rallied opposition to the reform and urged the agency to keep marijuana in Schedule I.
One week prior to DOJ's publication of the proposed rule, Sabet posted on X that he could confirm DEA Administrator Anne Milgram wouldn't sign the notice, citing "two confidential sources inside DEA and another outside DEA with intimate knowledge."
The agency said that doesn't amount to ex parte communications, however.
"The tribunal correctly questions the seriousness of the remedies sought by the Movants and as such, should deny the motion," it said in the new filing, referring to comments from the judge last week. DEA added that the cannabis organizations behind the motion failed to "identify any precedent that would support removing an agency from its own rulemaking process."
"The only authority cited by the Movants on this point simply supports the notion that specific individuals may be removed from the proceeding under the appropriate circumstances," it said, pointing out that there is no accusation of any wrongdoing by DEA attorneys involved in the current proceedings on rescheduling. "In short, the Movants' arguments are completely without merit."
SAM also filed a response with the ALJ on Monday, arguing that the allegations "fail on their face to suggest any improper contacts between SAM and the DEA," and therefore they "can and should be quickly dispensed with by this Tribunal."
The organization asserted that, statutorily, unlawful ex parte communications would need to have occurred after the Justice Department posted its notice of proposed rulemaking, which is not explicitly alleged in the original motion.
"Standing alone, that deficiency itself is sufficient to dismiss Movants' speculation about supposed improper contacts," it said.
SAM also cited media reports from outlets including Marijuana Moment and The Wall Street Journal, as well as social media posts from supporters of the rescheduling effort, that contained information about the process that had not yet been made publicly available. It argued that such reporting undermined the allegation that Sabet's communications were uniquely improper.
"In short, the Motion is a transparent effort to smear both SAM and the DEA in an attempt to eliminate from this proceeding one of the strongest voices opposing rescheduling of marijuana," SAM said. "The Tribunal should deny Movants' invitation to create a sideshow requiring SAM and its counsel to expend more time and funds defending against unfounded attacks and instead should permit SAM to focus on the merits of these proceedings."
After the motion was filed with DEA ALJ John Mulrooney, <a href="https://www.marijuanamoment.net/dea-judge-gives-agency-one-week-to-address-allegations-of-illegal-talks-with-marijuana-opponents-amid-rescheduling-process/">the judge invited both the agency</a> <a href="https://www.marijuanamoment.net/dea-judge-invites-prohibitionist-group-to-explain-allegedly-unlawful-talks-with-agency-amid-marijuana-rescheduling-review/">and SAM to respond</a>, calling the nature of the alleged illegal communications "serious."
This comes just weeks before an initial December 2 hearing before the ALJ on the government's proposal to move marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA).
In a historic first, it was Attorney General Merrick Garland—and not DEA's Milgram—who signed the proposed rule to reschedule cannabis. The original motion said that fact, as well as DEA's apparent indecision on the proposed rule, warranted a change in the hearing structure.
The judge, in turn, said that the prospect of removing an agency head from rulemaking that it is responsible for overseeing would likely, "and correctly," be deemed beyond the ALJ office's jurisdiction.
Last week, Mulrooney officially ruled on <a href="https://www.marijuanamoment.net/dea-judge-issues-order-approving-and-denying-witnesses-for-marijuana-rescheduling-hearing-and-laying-out-next-steps/">which of the agency's 25 selected witnesses for the hearing will be able to participate</a>, while laying out the procedure for the administrative process—including how pro- and anti-reform speakers will be able to cross-examine one another.
Separately, the judge last week <a href="https://www.marijuanamoment.net/researcher-asks-dea-judge-to-postpone-marijuana-rescheduling-hearing-until-after-trump-takes-over/">denied a request from a cannabis and psychedelics researcher</a> to postpone the upcoming rescheduling hearing over the agency's alleged "improper blocking" of witnesses, while arguing that the process should be halted at least until President-elect Donald Trump's administration comes into power so it can review the rulemaking.
Mulrooney also <a href="https://www.marijuanamoment.net/dea-judge-rejects-veterans-groups-petition-to-participate-in-marijuana-rescheduling-hearing/">rejected a veterans group's petition to participate in the rescheduling hearing</a>, which the organization called a "travesty of justice" that excludes key voices that would be affected by the potential policy change.
For what it's worth, Vice President Kamala Harris said recently that part of the reason for the delay in the administration's marijuana rescheduling effort is&nbsp;<a href="https://www.marijuanamoment.net/kamala-harris-blames-marijuana-rescheduling-delay-on-dea-bureaucracy-while-defending-her-own-prosecutorial-record/">federal bureaucracy that "slows things down," including at DEA.</a>
In March, Harris also expressed some frustration with the bureaucratic process of rescheduling marijuana, prior to DOJ's formal recommendation,&nbsp;<a href="https://www.marijuanamoment.net/watch-live-vp-harris-talks-marijuana-ahead-of-white-house-meeting-with-cannabis-pardon-recipients/">calling on DEA to expediently finish the job</a>.
While the Biden–Harris administration facilitated the review that led to the DOJ rescheduling proposal, Trump has also voiced support for the reform.
In Congress, numerous lawmakers have shared their own perspectives on the proposed reform with DEA and DOJ since the Schedule III announcement was made.
In August, for example, Sen. Chuck Grassley (R-IA)&nbsp;<a href="https://www.marijuanamoment.net/gop-senator-demands-answers-on-rush-to-reschedule-marijuana-from-top-biden-administration-officials/">raised concerns about the Biden administration's justification</a>&nbsp;for recommending marijuana rescheduling, demanding answers to questions from federal agencies about how they arrived at that decision in what he described as a rushed and unconventional administrative process.
A week earlier, top Democratic senators—including&nbsp; Senate Majority Leader Chuck Schumer (D-NY)—sent a separate letter to DOJ's Garland and DEA's Milgram urging the agencies to&nbsp;<a href="https://www.marijuanamoment.net/schumer-booker-and-other-senators-push-dea-to-promptly-finalize-marijuana-rescheduling/">"promptly finalize" the rule to reschedule marijuana</a>.
While rescheduling would remove certain research barriers and free up state-licensed cannabis business to take federal tax deductions under the Internal Revenue Service (IRS) code known as 280E, it would not federally legalize marijuana, as the&nbsp;<a href="https://www.marijuanamoment.net/marijuana-businesses-could-advertise-in-newspapers-and-magazines-if-rescheduling-is-approved-congressional-researchers-say/">Congressional Research Service (CRS) has made known in multiple recent reports</a>.
Meanwhile, two additional congressional lawmakers have joined the ranks of GOP members who are challenging what they say is&nbsp;<a href="https://www.marijuanamoment.net/gop-lawmakers-demand-answers-from-biden-administration-about-unusual-marijuana-review-process-behind-rescheduling-push/">the "unusual" process that led the Biden administration to propose rescheduling marijuana</a>, expressing concern about how the review was carried out and demanding answers.
Rep. Doug LaMalfa (R-CA)&nbsp;<a href="https://www.marijuanamoment.net/gop-congressman-says-marijuana-rescheduling-and-banking-reform-would-prop-up-an-immoral-industry/">condemned the Biden administration's push to reclassify marijuana</a>, as well as legislative efforts to enact bipartisan cannabis banking reform, because he says the policy changes would "prop up this immoral industry" and give a "green light to the evil that comes from drug use."
Sen. Bill Cassidy (R-LA) also blasted the Biden administration over what he described as&nbsp;<a href="https://www.marijuanamoment.net/gop-senator-condemns-lack-of-transparency-in-marijuana-rescheduling-process/">repeated refusals from federal agencies to brief Congress</a>&nbsp;on its plans and justification for rescheduling marijuana, which he argues fuels speculation that the proposed policy change is politically motivated.
Similarly, 25 GOP congressional lawmakers sent a public comment letter in July opposing the administration's planned rescheduling of marijuana, specifically alleging&nbsp;<a href="https://www.marijuanamoment.net/gop-lawmakers-push-justice-department-to-reverse-course-on-marijuana-rescheduling/">the government's recommendation was based on politics rather than science</a>.

Tom Angell Says "DEA says it is in the process of preparing public access to the cannabis rescheduling proceedings docket. For now, read Marijuana Moment's coverage of the latest significant filings:", 'DEA And Anti-Marijuana Group Deny Allegations They Conspired During Rescheduling Process' - Marijuana Moment

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