State regulators warned Tuesday that California’s largest cannabis depository is on the verge of closing its doors if a buyer doesn’t step in soon. The California Cannabis Reserve came within hours of shutting its doors after news began to spread that it could not cover all of its obligations.
“California Cannabis is the largest supplier to all other dispensaries. If it goes down, it takes the whole industry with it,” said marijuana industry analyst Richard Smoker.
News of CCR’s imminent demise sent shockwaves through the pot industry, leaving consumers wondering if they will be able to withdraw weed from their neighborhood dispensary. Many potheads were lined up outside dispensaries Tuesday, clamoring to make a weed withdrawal before the supply dried up.
President Biden addressed the media today to assure Californians that the weed supply was safe and that withdrawals of up to 2.5 ounces have the full backing of the United States government. “The nation’s weed reserves are strong and plentiful. California’s not going to go dry on my watch and neither will the rest of the country,” Biden said.
Biden went on to say that he’s appointing his son, Hunter, to lead an advisory committee tasked with recommending regulations to strengthen the fragile pot industry. “I trust that my son Hunter will devise a solid plan to ensure that future generations will never lack for doobies. A bud in every bong,” the president promised.