The senator urgently pushing for marijuana rescheduling ??

No hemming and hawing here. Just the biggest cannabis and psychedelics news and headlines you should be caught up on.

The top 7 cannabis stories you need to know ??

1. High Tide Inc. insiders, including the CEO, acquired 125,917 common shares, increasing their ownership to approximately 9.37% of the company's shares.
2. Missouri marijuana businesses have generated over $1 billion in sales of cannabis products in 2023, according to the state's health department.
3. MariMed, Inc. . has completed a $58.7 million refinancing deal, securing a construction to permanent mortgage loan for its Maryland and Massachusetts assets. The loan features a lower fixed interest rate and a 10-year term. Other assets and brands are now unencumbered.
4. Senator Kirsten Gillibrand of New York is asking the DEA to swiftly reschedule marijuana with "great urgency," aligning with a recommendation from the HHS.
5. A study suggests that medical marijuana and opioids are equally effective in reducing pain, but cannabis provides additional holistic benefits like improved sleep and emotional well-being. The study analyzed chronic pain patients using medical marijuana or opioids.
6. Sen. Chuck Schumer, the Senate Majority Leader, is seeking Republican support to pass the marijuana banking reform bill, the SAFER Banking Act. He requires the support of "10 or 11 Republican" senators before calling for a floor vote. The Act aims to protect financial institutions from federal penalties when providing services to state-legal marijuana businesses.
7. The U.S. federal government has yet to release the full letter containing the HHS recommendation to reschedule cannabis despite public record requests and a lawsuit. HHS responded to President Biden's directive in August 2023.

In a letter sent to DEA Administrator Anne Milgram last week, the senator said that while she remains “under the strong conviction that marijuana should be descheduled entirely,” the agency should, “at a minimum,”?move cannabis from Schedule I to Schedule III?under the Controlled Substances Act (CSA).

Read the full stories here.

The top 5 psychedelics stories you need to know ??

1. California residents have until Monday to provide comments on a proposed ballot measure allowing the use of psychedelics for medical, therapeutic, and spiritual purposes. The final update is expected on December 1.
2. Algernon Pharmaceuticals Inc. has agreed to sell its NP-120 (Ifenprodil) research program to Seyltx for $2M in cash and a 20% equity position. The deal is subject to conditions and a definitive agreement is expected within 90 days.
3. In a holiday-shortened week, the AdvisorShares Psychedelics ETF ($PSIL) outperformed biopharma indices, rising 6.06%. Broad stock market indices also increased.
4. A study found that emotional difficulties, self-perception, and cognitive issues were common long-term challenges after psychedelic use. These challenges highlight the need for a better understanding of the potential risks associated with psychedelics.
5. Cybin Inc is hosting an investor briefing in New York City on November 30, 2023, to discuss the topline data of CYB003, a deuterated psilocybin analog being developed for major depressive disorder treatment. The briefing includes a panel on the therapeutic potential of psychedelics in mental health.

Here's how some psychedelics stocks performed last week.

Read the full stories here.

Catching up on Trade To Black Podcast ???

This week was a shorter one on Trade To Black, with only one livestream due to the holiday. Now you really have no excuse not to watch Shadd Dales , Anthony Varrell , and Benjamin A. Smith talk about the big OpenAI drama with Sam Altman (welcome back!), the huge NY tax break news for cannabis companies, and more.

Trade To Black airs on The Dales Report and Benzinga's YouTube channels at 4:10 PM EST every Monday, Wednesday, and Friday.

Watch here:

And if you need more of The Dales Report , check out this interview we did with MariMed, Inc. CEO Jon Levine about the company's massive debt restructuring and how that's going to save them millions.

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