Last week Phoenix Tears, a line of CBD oils, announced a significant new deal in which 7-Eleven, one of the largest convenience store chains in the world, would be carrying their products. The press release claimed the chain would sell CBD oils in fully legalized states like Colorado, Washington, and California, as well as states with smaller medical marijuana programs like Florida and Maryland. It came as a shock. Not only because 7-Eleven hadn’t made a peep about the deal, but because cannabis can be a liability for nationwide businesses. It all turned out to be a rumor, and no one’s admitting to starting it.
After reporting on the partnership, The Huffington Post reached out to 7-Eleven for more details. Stephanie Shaw, 7-Eleven’s director of communication, set the record straight with the Post that it’s all bunk. “We have made no agreement or partnership with this company and do not know why they said that,” said Shaw.
Despite the lack of fanfare, the press release presented itself officially, including quotes from Phoenix Tears founder Janet Rosendahl-Sweeny. “We are excited that 7-Eleven will bring the Phoenix Tears product line to millions of Americans,” said Rosendahl-Sweeney, supposedly. “In addition, this agreement confirms our belief that CBD’s status as a mainstream wellness option has arrived. We’re eager to usher in a new era.”
Suzanne Mattaboni, a spokeswoman for Phoenix Tears whose name appears as the contact on the press release also expressed confusion to The Huffington Post, telling them that they’re going “to get to the bottom of this.”
While CBD is non-psychoactive and is one of the more common forms of cannabis treatment, it still remains a liability. Parents looking to treat their child’s epilepsy have been threatened by child protective services. The reason national banks don’t engage with dispensaries is that weed remains a Schedule I drug in the United States. Participating in cannabis might land them with charges of laundering and even conspiracy.
In countries like Canada, where cannabis will be legalized federally, nationwide chains like Loblaws, Shoppers Drug Mart, and even Second Cup have announced plans to carry marijuana products. But in the US, where there is a risk for big chains to get in on the green market, it seems dubious that a store like 7-Eleven, whose largest step in the health and wellness market is Pepto-Bismol to counteract the effects everything else in the store, would get involved at this point.