POTX

Cannabis ETFs are experiencing one of their most dynamic years yet, driven by significant regulatory shifts. The Department of Health and Human Services‘ recommendation to reclassify cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act marks a pivotal moment. This change, coupled with growing Congressional support led by figures like Elizabeth Warren and Chuck Schumer, has invigorated the market. Investment Trends Amidst Regulatory Shifts As cannabis transitions from a Schedule I drug, investors are keenly observing the ETFs that are positioned to benefit. According to Jane Edmonds’ article on ETF Trends, the introduction of swap options for U.S. Multi-

NEW YORK, Jan. 19, 2024 /PRNewswire/ -- Global X ETFs, the New York-based provider of exchange-traded funds, today announced the scheduled liquidation of the following ETFs (the "Funds"), based on an ongoing review process of its product lineup to ensure it meets the evolving needs of its clients. The Funds scheduled for liquidation include: Fund Ticker CUSIP Global X Cannabis ETF POTX 37954Y145 Global X Carbon Credits Strategy ETF NTRL 37960A586 Global X China Biotech Innovation ETF CHB 37954Y251 Global X Green Building ETF GRNR 37960A842 Global X Health & Wellness ETF BFIT 3

IGC Pharma, Inc. (IGC), a leading cannabinoid-based formulation developer, has expanded its Phase 2 clinical trial for IGC-AD1, a natural THC-based investigational drug for Alzheimer's disease, to the University of Puerto Rico network. IGC is dedicated to developing advanced cannabinoid-based formulations for a range of diseases, including Alzheimer's, dysmenorrhea, PMS and chronic pain. Advanced Cannabinoid Therapies for Multiple Diseases “We are excited to announce our partnership with the University of Puerto Rico, a remarkable institution conducting world-leading medical research. The addition of this site with individuals living with Alzheimer’s from the Hispanic community is a signi

Denver Approves First Cannabis Consumption Bus Alisha Gallegos' cannabis consumption bus was licensed by the City and County of Denver, allowing it to cater to weddings, private events and festivals where guests can legally smoke cannabis. The bus has undergone significant modifications, including carbon filtration and medical-grade air purifiers, to ensure responsible consumption practices, while strict regulations, such as no visibility into the bus and mandatory recording of activities, are followed to maintain compliance with city requirements. Unlicensed Cannabis Dispensary Shut Down In New York For Selling To Minors The chain of unlicensed cannabis dispensaries known as "I'm Stuck"

Detroit is set to accept applications for the second round of limited marijuana business licenses, with half reserved for "equity applicants" from communities disproportionately affected by marijuana prohibition. The round offers 30 marijuana retailer licenses, 10 microbusiness licenses, and 10 consumption lounge licenses, aiming to drive growth and accessibility in the local cannabis industry. After facing legal hurdles and addressing constitutional concerns, the city is actively working to reduce zoning restrictions and host informational sessions to guide applicants. Successful candidates will be notified approximately six to eight weeks after the August 31 deadline. The Benzinga Cann

The potential of rescheduling and removing Tax Rule 280E could boost profits for U.S. businesses. However, Zuanic and Associates' latest report reveals complexities and overlooked consequences. What is the best option for unlocking the cannabis industry's potential: exploring exemptions or legislative change? Rescheduling MMJ: FDA And Pharma Implications Tax Rule 280E poses a considerable obstacle to cannabis companies, forcing them to pay income tax on gross profits and resulting in an astronomical effective tax rate of 70% for many US plant-touching businesses. While the removal of 280E through cannabis rescheduling appears attractive, Z&A cautions against embracing this narrative witho

Will the rescheduling of cannabis fuel a boom in cannabis stocks? Analysts from Z&A delve into the pros and cons of MSOs and cannabis rescheduling in their latest equity research report. Re-scheduling Vs. De-scheduling: What Is The Difference? Re-scheduling cannabis refers to the process of changing its current classification within the legal framework while maintaining some level of regulation. De-scheduling cannabis, on the other hand, involves removing it entirely from the list of controlled substances, eliminating all federal restrictions. If a country classifies cannabis as a Schedule I drug, re-scheduling it to Schedule II would mean acknowledging some medicinal value while retainin

With the recent legalization of adult-use cannabis in Missouri, residents now have the freedom to openly smoke marijuana at public events across the state, thanks to local government approval. However, concerns have arisen about the Missouri Department of Health and Senior Services' ability to hold medical-marijuana businesses accountable for rule violations during these events, reported Missouri Independent. Amy Moore, the director of Missouri's cannabis regulation, said: “If a licensee chooses to organize or offer an event to the public, they should be responsible for what happens." See Also: Missouri's Small Cannabis Businesses Apply For Licenses, Driving Racial Equity Amidst $529M Jun

Three sheriffs and a pastor walk into a café, not for a drink, but to forge an alliance with Florida Governor Ron DeSantis and weigh in on Florida's cannabis reform. DeSantis, a Republican 2024 presidential candidate, appointed six new members to the Sunshine State's Drug Policy Advisory Council, including sheriffs, Chris Nocco, Chad Chronister, Peyton Grinnell and pastor Dean Inserra. The panel includes sheriffs with contrasting stances on marijuana rights, a viral sheriff warning heroin sellers and a pastor advocating a more moderate approach to alcohol. The council, responsible for studying substance misuse and drug control, will provide recommendations to the governor's office. ‘We a

Canadian Company Can Sell Its Stash To Stay Afloat Tantalus Labs Ltd. received permission from a British Columbia Supreme Court to sell over 1,200 kilograms of marijuana (its remaining stock of cannabis flower). The decision comes after Canada Revenue Agency denied Tantalus’ excise tax license earlier, prompting financial troubles for the company. Most of Tantalus' employees were laid off as a result. With the license poised to expire, Tantalus could not sell its remaining inventory, which is why it sought help from the court. Uruguay Celebrates Sixth Anniversary Of Policy Change During the six years of legal marijuana sales in Uruguay, the first country worldwide to legalize the r

A bipartisan duo of lawmakers seeks to end a discriminatory practice of disqualifying those who apply for federal jobs or receive security clearance for past or present cannabis use. The bill titled "Cannabis Users' Restoration of Eligibility (CURE) Act" was introduced by Maryland Democratic Rep. Jamin Raskin and co-sponsored by South Carolina Rep. Nancy Mace, a Republican. Under the new measure, the cases of those who were previously declined security clearances or federal job opportunities due to their marijuana consumption would also be re-evaluated. The bill aims to "eliminate the draconian, failed and obsolete marijuana policies that prevent talented individuals from becoming honorab

NEW YORK, May 20, 2022 /PRNewswire/ -- Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced a reverse split of the Global X Cannabis ETF (POTX) ("the Fund"). Effective after market close on June 10, 2022, the Fund will affect a reverse split at a ratio of 1:6. The reverse split will increase the price per share of the Fund with a proportionate decrease in the number of shares outstanding. For example, every six pre-split shares will result in receipt of one post-split share, which will be priced six times higher than the net asset value (NAV) of a pre-split share. Illustration of Reverse Split The following table shows the effect of a hypothetical 1:6 r

KELOWNA, BC, Oct. 13, 2021 /CNW/ - Avant Brands Inc (TSX:AVNT) (OTCQX:AVTBF) (FRA: 1BUP) ("Avant" or the "Company"), a leading producer of high quality, handcrafted cannabis products, is pleased to announce its financial results for the third quarter of fiscal 2021 ended August 31, 2021 ("Q3 2021"). "We are excited to have posted two consecutive quarters of record revenues," said Norton Singhavon, Founder and CEO of Avant. "The Company has achieved positive momentum across three distinct channels: recreational, medical and export. In addition, the recent licensing of our 3PL

Kelowna, BC, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Avant Brands Inc (TSX:AVNT) (OTCQX:AVTBF) (FRA: 1BUP) ("Avant"), a leading producer of handcrafted, high quality cannabis products, announces that it has been added to the Global X Cannabis ETF (NASDAQ:POTX), which is listed on the NASDAQ exchange."Our recent efforts to expand our investor base by rebranding with concurrent dual graduations to the Toronto Stock Exchange and OTCQX have resulted in Avant gaining institutional exposure," said Norton Singhavon, Founder and CEO of Avant Brands. "Our inclusion in the Global X Cannabis ETF will provide us with the opportunity to continue expanding our exposure to investors and institutions across Nor