Cannabis industry releases framework to address governance, environmental stewardship 

Dozens of leading cannabis industry executives are signing on to a set of standards that aims to advance environmental stewardship, social responsibility and good governance. The newly-established Global Cannabis Partnership is a group of 45 members that released a corporate social responsibility framework which seeks to positively influence the industry's impacts on the environment and society. According to the framework, members have one year to complete work to apply to one of the association’s four certification categories that includes compliance with governance, social and environmental practices. .

Are magic mushrooms poised to be the next drug to become legalized?

After legalizing cannabis, is the psychedelic magic mushroom poised to be next? Bloomberg examines the recent moves to decriminalize the fungus that contains psilocybin, a psychedelic compound popularized by ’60s counterculture. Denver and Oakland have recently decriminalized the drug, with Oregon poised to be next with a ballot measure aimed for a 2020 vote. Advocates say psilocybin has untapped medical potential that could be as big as cannabis, particularly for treating depression and addiction. But for now, the drug remains illegal virtually everywhere.

Flowr Corp announces new loan commitment to expand B.C. facilities 

Flowr Corp announced Tuesday it received a $50 million loan commitment from a syndicate of lenders led by ATB Financial. The Toronto-based company said it plans on using its new credit facility or general working capital purposes and further expansion of its Kelowna-based facilities. Flowr’s ability to tap credit markets comes as more cannabis companies seek various lending options such as convertible debt and first-lien loans.

DAILY BUZZ

"Let’s make a good quality product rather than worry about what it looks like from the packaging side."
-- George Robinson, CEO of RavenQuest BioMed, on considerations for the cannabis edibles industry as next-generation legal products are set to become available for sale by mid-December.

Cannabis Canada is BNN Bloomberg’s in-depth series exploring the stunning formation of the entirely new – and controversial – Canadian recreational marijuana industry. Read more from the special series here and subscribe to our Cannabis Canada newsletter to have the latest marijuana news delivered directly to your inbox every day.