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- đż House Hemp Bill Advances
đż House Hemp Bill Advances
GM Everyone,
The House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies â advanced a spending bill out of committee yesterday that would effectively redefine âhempâ in a way that would ban intoxicating products. For context, a similarly worded hemp-banning Miller Amendment made it through this same stage last time, only to be yanked from the bill at the eleventh hour. So where do the chips fall this time? If were betting on this, the smart money would be on the current definition of hemp somehow surviving the gauntlet and sticking around in the final version. But hey, stranger things have happened in D.C.
đ¸ The Tape
If youâve been sipping a little less whiskey and sparking up a little more weed lately, youâre not aloneâand the alcohol industry is definitely noticing.
Lawson Whiting, CEO of Brown-Forman Corporation, the proud parent of Jack Danielâs and Woodford Reserve, says cannabis is becoming an undeniable buzzkill for spirits sales. During a Thursday earnings call, Whiting pointed to a 5% drop in net sales and identified a now-familiar trifecta of woes: changing generational preferences, the rise of weight loss drugs, and yesâmarijuana.
âWeâd be naive if we didnât say there isnât some pressure coming from those,â Whiting admitted. Still, he maintained that the average consumer is just strapped for cash. âTheir wallet just doesnât have as much money in it.â
In other words, between pricey rent, $18 cocktails, and your cousinâs wedding in Tulum, something had to give. And increasingly, itâs alcohol.
But letâs not pin it all on pot. Whiting noted that even in Europe, where legal weed is far less available, the same downward trends are emerging. That said, cannabis legalization is explicitly listed in Brown-Formanâs risk disclosure as one of the âuncertaintiesâ threatening future growth.
Whiting tried to strike a note of cautious optimism, saying: âWhile our results did not meet our long-term growth aspirations, we made important progress in an exceptionally challenging macroeconomic environment.â Translation: Weâll innovate our way out of thisâjust as soon as we figure out what Gen Z actually wants to drink.
This isnât just corporate hand-wringing, either. Analysts from Bloomberg Intelligence have been warning for years that cannabis is becoming a "significant threat" to alcohol sales, especially as millennials and Gen Z consumers increasingly swap beers for blunts. One 2023 investment bank report even predicted cannabis will gain 20 million more regular users by 2027, while alcohol could lose a few million fans. Booze might be the original social lubricantâbut weed is the new mood manager.
Cannabis sales are expected to hit $37 billion by 2027, according to projections. And as more states go green, the bar tab could keep shrinking.
So, while Brown-Forman and friends are still pouring out old favorites, the future might involve a little less whiskey neatâand a lot more pre-rolls and gummies.
Cheers to changing times.
đ Dog Walkers.
$VREOF ( Ⲡ1.21% ) Vireo Acquires Proper Brands
Whatâs Going On Here: Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) has closed its $102 million acquisition of Proper Brands, a leading independent cannabis operator in Missouri. The deal gives Vireo control of 11 dispensaries (plus one undeveloped license), a 100,000+ sq. ft. cultivation and manufacturing facility, and a growing delivery business powered by Arches technology.
The $102M price tag was paid in 196.2 million Vireo shares at $0.52 per share, reflecting a 4.175x multiple on Properâs 2024 EBITDA of $31M. Clawbacks are built in if 2026 EBITDA falls short, and share lock-ups will be staggered over 33 months.
With this deal, Vireo cements a strong foothold in Missouriâs adult-use marketâespecially around St. Louis and Kansas City.
$BLOZF ( âź 0.28% ) Cannabix Marijuana Breath Test Nearly Ready
Whatâs Going On Here: Cannabix Technologies Inc. (CSE: BLO) and Omega Laboratories have hit a key milestone in launching the Marijuana Breath Test (MBT), a novel THC detection tool targeting ârecent use.â Omega delivered a full validation packet for its lab-developed method to test for delta-9 THC, delta-8 THC, CBD, and CBN using Cannabixâs Breath Collection Unit (BCU) and Cartridges.
Unlike traditional blood, urine, or saliva tests that detect cannabis days or weeks after use, the MBT focuses on active impairment windows. The test is lab-based and intended as a collect-and-send solution. Omega is now integrating the tech into its drug testing services, with commercialization plans underway.
As part of the agreement, Cannabix will issue 3 million shares to Omega, which also gains a board seat in the near future.
đď¸ The News
đş YouTube
DEA Accused of Blocking Cannabis | Germanyâs Telehealth Crackdown Begins | Trade to Black
What we will cover:
â Host Shadd Dales breaks down how cannabis executives are thinking â and what it takes to lead a company in one of the most complex industries today. With limited access to capital, high taxes like 280E, shifting regulations, and increased competition, CEOs are being forced to get sharper, leaner, and more strategic than ever.
From managing cash flow to prioritizing profitability, from preparing for U.S. rescheduling to eyeing global markets like Germany â every decision right now matters. These leaders are cutting through noise, adapting to new realities, and playing the long game.
This isnât about doom and gloom. Itâs about understanding what success looks like when the playbook keeps changing.
If youâre an investor, executive, or just trying to understand where this industry is heading, this is the insight you wonât find in an earnings release.