💸 The Tape

Germany’s cannabis market is turning heads this week, thanks to a new poll showing that nearly 60 percent of eligible voters now support allowing adults to buy marijuana from licensed retailers. According to the German Hemp Association, this is the first time that a clear majority backs the policy—an especially interesting development given the partial legalization already on the books. Currently, adults can possess and consume cannabis (even grow it at home), but official licensed shops remain off-limits, leaving critics to brand the law as unfinished.

The poll arrives at a pivotal moment: a national election early next year could decide whether Germany stays the course on legalization or abandons it. The conservative CDU/CSU alliance has pledged to repeal the marijuana law if it regains power, arguing that regulated sales will flood local communities with pungent odors and entice underage users. Yet many other political parties stand behind the current reform, insisting it will help tame the illicit market and generate new revenue streams.

Meanwhile, government officials press forward with implementing the country’s newly minted cannabis rules. This includes a series of pilot programs allowing universities and private companies to test consumer sales in a controlled environment—an approach designed to gather data on public safety, health outcomes, and the impact on organized crime. Frankfurt, for instance, plans a five-year project that’s more expansive than the usual scientific trial, with other localities jumping on board.

Federal Minister for Food and Agriculture Cem Özdemir, a key advocate for reform, recently signed off on guidelines that green-light these research-based commercial markets. While the arrangement isn’t quite the “second pillar” the coalition originally promised, it does allow for a fairly open trial of licensed sales. If the process proves successful, Germany could see a more robust, nation-wide cannabis market in the near future.

Observers are keeping an eye on the outcome of the February election. If CDU/CSU takes control, their manifesto makes clear they’d roll back the law, jeopardizing new pilot projects and potentially halting the official shift to legal cannabis retail. Conversely, if other parties prevail, Germany could quickly become Europe’s largest regulated marijuana marketplace. For now, with 59 percent of Germans on board, it appears the public is warming to the idea of legal weed—just in time for the biggest political shake-up of the year.

📈 Dog Walkers

IIPR Has Some Tough SLedding Ahead

Innovative Industrial Properties (IIP) just hit a painful snag in its relationship with tenant PharmaCann, which previously provided a hefty 17% chunk of IIP’s rental revenues. On December 19, 2024, PharmaCann defaulted on December rent for six out of eleven properties—spanning Illinois, Massachusetts, Michigan, New York, Ohio, and Pennsylvania—to the tune of $4.2 million in base rent, fees, and insurance expenses. IIP dipped into security deposits to cover the missed payments (plus late penalties and interest). Although PharmaCann satisfied rent obligations on the remaining five leases—totaling a relatively modest $90,000—it triggered cross-default clauses by failing to settle up on the other six leases. In response, IIP is rolling up its sleeves, ready to enforce its rights aggressively, including potential eviction proceedings. As a real estate investment trust specializing in cannabis-related industrial properties, IIP suddenly finds itself wrestling with a major tenant’s default, underscoring the industry’s persistent volatility.

MTL Shores Up Balance Sheet

MTL Cannabis Corp. just scored a crucial financial victory, fully retiring a lingering 13.25% mortgage that predated its merger with Canada House Cannabis Group. The Company paid a total of $2,129,423.90—comprising $2,105,871.57 in principal, plus $23,552.33 in interest and fees—thereby breathing new life into its balance sheet. CEO Michael Perron says MTL can now funnel resources into organic growth and the build-out of operational assets, all while trimming its interest burden. For a sector often strapped by pricey credit, self-funding provides a strategic edge, granting the Company the flexibility to pivot quickly if market conditions change. This timely maneuver underscores MTL’s commitment to preserving financial agility, positioning it to seize future opportunities without being weighed down by heavy debt. All told, the early mortgage payoff demonstrates MTL’s drive to remain lean, fueling its path to industry leadership in cannabis.

🗞️ The News

Majority Of Germans Support Legalizing Marijuana Similar To U.S. States, New Poll Shows Amid Concerns About Reversal Of Reform Law In 2025

MTL Cannabis Corp. Repays 13.25% Mortgage and Strengthens Balance Sheet Français

Can liability waivers protect cannabis consumption-lounge operators?

THC drinks gain popularity in the US – but can they fully replace alcohol?

📺 YouTube

AgTech Leader Reveals Cultivation Gaps Investors Must Understand | Trade to Black

What we covered:

✅ On our latest Trade To Black podcast, we have an exciting episode lined up! One of the true originals from the cannabis industry, “Big” Mike Straumietis from Advanced Nutrients, joins us.

For those that don’t know, Advanced Nutrients is a leading agriculturual technology company in the cannabis industry, known for providing cannabis-specific fertilizers, biostimulants, and biologicals. Their products are designed to optimize every phase of plant development, from seed to senescence, helping growers achieve the highest possible yields.

We'll dive into how new technologies and education are needed in the marijuana space, and the importance of developing a new type of cultivator which ultimately impacts MSO's bottom line.

Plus, Dan from The Chart Guys joins us to discuss cannabis stocks and whether it makes sense to invest in them right now at these levels.