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Pharmacist Managing Billion Dollar Cannabis-Focused Fund, Jason Wild of TerrAscend: Meet Our Keynote Speakers

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It is well known that a career is a lifelong journey that can take many turns. Today we’re taking a look at an inspiring story of a pharmacist who ended up managing a fund focused on cannabis and healthcare, with over $1 billion in assets under management.

Jason Wild, founder, president and CIO of JW Asset Management and TerrAscend’s (CSE: TER) (OTCQX: TRSSF) executive chairman, will deliver the keynote speech at the upcoming Benzinga Cannabis Capital Conference to be held on April 20 and April 21 at the Fontainebleau Miami Beach Hotel.

From Pharma To Cannabis

Originally a pharmacist, Wild’s journey led him to become an investor with a firm that manages more than $1 billion through a mix of investments in pharmaceuticals and cannabis producers.

However, it wasn’t always that way. Wild actually started out with $80,000, which he used to launch JW Asset Management, LLC fund in 1998. Nearly two decades later, his interest shifted to medical cannabis companies in Canada.

As a graduate of the Arnold and Marie Schwartz College of Pharmacy, Wild primarily focused on pharmaceutical investments.

At the Benzinga Cannabis Capital Conference in New York this past October, Wild told Tim Seymour, portfolio manager at Amplify Seymour Cannabis ETF CNBS and senior advisor at JW Asset Management, that he was much more interested in the stock market and “investing in pharmaceutical stocks as opposed to filling prescriptions.”

Early success came from assembling Arbor Pharmaceuticals in 2010 and after selling it to KKR (NYSE: KKR) in 2014 for a sizable profit, which he then invested in major Canadian cannabis companies. Wild has since become one of the first U.S. institutional investors in legal cannabis companies.

During his trip to Canada, around 2015 or 2016, he heard about CBD for the first time. “I was really excited to hear about all the true medical uses for cannabis,” Wild said.

After initial success in Canada, came a “large investment” in TerrAscend toward the end …

Full story available on Benzinga.com

Original Post: benzinga.com

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Congress Under Pressure: Colorado Officials Push for Cannabis Banking Reform

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With the end of Congress’ session just around the corner, marijuana advocates, stakeholders and lawmakers continue to push for marijuana banking policy change.

This time, Colorado Gov. Jared Polis (D) joined forces with Lt. Gov. Dianne Primavera (D), Attorney General Phil Weiser (D), Treasurer Dave Young (D) and Department of Public Safety (DPS) Executive Director Stan Hilkey in urging congressional leaders to revisit the issue, reported Marijuana Moment.

In a letter sent on Monday to both House and Senate leaders, Colorado officials focused on the impact which a bipartisan marijuana banking bill will have in terms of public safety and industry equity,

“The lack of safe banking and financial services for the cannabis industry in the State of Colorado has become a dire public safety issue for highly regulated cannabis businesses operating in compliance with state …

Full story available on Benzinga.com

Original Post: benzinga.com

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New Data Shows Weed Legalization a Boon for Real Estate, New Jobs and Tax Revenue

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A new report from the Federal Reserve Bank shed light on the economic impact marijuana legalization has had in recent years, reported Marijuana Moment. Policy changes on the state level have resulted in increased commercial real estate demand, as well as a surge in tax revenues while creating more jobs.

According to an analysis from the Kansas City arm of the Central Bank, which collected data from several states under its jurisdiction, the Tenth Federal Reserve District, the cannabis industry has become one of the main economic sectors positioned to grow substantially in the coming period.

“Overall, the marijuana industry has had a significant effect on the economies of Tenth District states in the initial years after legalization,” the report said. “The emergence of the industry has …

Full story available on Benzinga.com

Article: benzinga.com

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Will Missouri Legalize Cannabis? Amendment 3 Suffers Another Attack This Time by State NAACP

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Cannabis legalization efforts in Missouri are under attack once again, this time by The Missouri State Conference of the NAACP.

What Happened

The Missouri NAACP, breaking with chapters in the St. Louis area is urging its members to vote against Amendment 3 on the Nov. 8 ballot, reported the Saint Louis Post-Dispatch.

The group announced Thursday that it believes recreational marijuana legalization, as it is proposed under Amendment 3, would prevent minorities from entering the cannabis industry. 

“Marijuana possession should not be a constitutional crime. Additionally, for years now, Black people, other minorities, and people who have been criminalized by marijuana laws in the past have been unable to enter the medical marijuana market,” the Missouri NAACP wrote. “That is not right. In an effort to prevent the permanent exclusion of minorities from the cannabis industry in the state of Missouri, the NAACP calls upon every voter to reject the criminalization of marijuana possession, de facto racist regulation of the cannabis market, and the wool being pulled over our eyes by the supporters of Amendment 3.”

Under Amendment 3, the first “comprehensive” cannabis business licenses would be provided to existing medical marijuana companies. 

The state’s chapter highlighted that the amendment “does not increase the number of available full market licenses” and claims that giving “micro” business licenses to disadvantaged groups makes a “very limited” program. 

According to Nimrod “Rod” Chapel Jr., president of the Missouri NAACP, members agreed last week …

Full story available on Benzinga.com

Source: benzinga.com

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