Changes at the top for cannabis firm Medicine Man Technologies
Andy Williams on Monday said he is stepping down as CEO of Denver-based Medicine Man Technologies, a marijuana firm he co-founded in 2014, to serve as president and vice chair. In his new role, Williams will focus on opportunities in Colorado and other states, among other things. The company’s board simultaneously appointed Justin Dye of private equity group Dye Capital as executive chair and CEO. Dye Capital has invested at least $18.2 million in Medicine Man Technologies, which went on a $300 million buying spree of marijuana businesses in recent months.
Lawmakers urge DEA to allow marijuana researchers more access
More than 20 congressional lawmakers sent a bipartisan letter to U.S. Attorney General William Barr requesting that the Drug Enforcement Administration (DEA) allow federally licensed researchers to buy products from state-legal dispensaries to study the medical benefits and risks of cannabis. The DEA has said that it wants to expand cannabis research but has dragged its heels on approving pending research applications. Currently, the University of Mississippi is the only DEA-licensed cannabis supplier, and some researchers say the quality of the marijuana is subpar.
– Jeff Smith
An audio look at the top cannabis stories last week
Our podcast, “This Week in Marijuana Business News,” looks at the first day of adult-use marijuana sales in Michigan, Haborside’s legal fight over cannabis tax deductions, and marijuana operator Cresco Labs’ ability to issue shares at its discretion, among other topics.