UK Approves Trials Testing DMT as Depression Treatment

12/14/2020

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The United Kingdom has approved trials by London-based Small Pharma for assessing the safety, and later efficacy, of N,N-dimethyltryptamine – or DMT – for depression, according to a Pharm Exec report. It is the world’s first clinical trial for studying DMT as a depression treatment.

Small Pharma CEO Peter Rand explained that DMT “delivers a psychedelic experience in 20 minutes” and the company hopes it can offer shorter therapy sessions than other psychedelics which would benefit patients in terms of cost effectiveness and convenience.

“By adopting responsible evidence-based research and development into psychedelic medicine, we hope to help rebrand these once stigmatized compounds as highly effective medical therapies, which can be integrated into current healthcare systems and made accessible to the millions of people suffering from depression.” – Rand to Pham Exec

Small Pharma is working in collaboration with Imperial College London’s Centre for Psychedelic Research. The company received approval for its Phase I/IIa clinical trial evaluating the effects of DMT-assisted therapy in otherwise healthy volunteers without much experience with the substance suffering with major depressive disorder. The study’s first phase is set for next month with the proof-of-concept phase following shortly thereafter.

Carol Routledge, Small Pharma’s chief medical and scientific officer, told European Pharmaceutical Manufacturer magazine that the approval “is a truly ground-breaking moment in the race to effectively and safely treat depression” especially “as more and more people suffer as a result of the pandemic.”

“Psychedelic assisted therapy will revolutionize the treatment of depression because it gets right to the root cause of the illness,” Routledge said in an interview with the Independent, adding that DMT would allow patients to disrupt unhealthy patterns of thought, “like shaking up a snow globe” in the brain and allowing them to “resettle” in a different way.

Traditional antidepressants, she said, “dampen symptoms rather than getting to the root cause.”

A 2019 study by University of California, Davis researchers found rats microdosed with DMT had a reduced fear and anxiety response.

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Arizona Unveils Draft Regulations for Legal Cannabis Market

12/14/2020

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Arizona regulators have released early draft regulations for the state’s future adult-use cannabis market, Marijuana Moment reports.

The rules come just over a month after Arizona passed Proposition 207, the state’s voter-approved ballot initiative legalizing possession of up to an ounce of cannabis and the home cultivation of up to six plants. The initiative also calls for a legal market where cannabis sales will be taxed 16 percent, revenue from which will cover the market’s implementation costs and then be divided among community college, infrastructure, public services, and “justice reinvestment” funds. The legalization initiative will also create pathways for people who were convicted of a cannabis crime to have their record expunged.

Under the voter-approved initiative, the state must begin accepting adult-use license applications on January 19, 2021. The initiative’s possession and home grow provisions took effect on November 30.

The current regulation proposals cover cannabis business licensing fees, the timeline for licensing, product labeling, and public safety requirements. There is a public comment period for the draft regulations — which are likely to change before final implementation — until Thursday, December 17. Samuel Richard, executive director of the Arizona Dispensaries Association, said state regulators are likely to release at least one more rules proposal based on the feedback they receive.

“They just want to give operators a sense of what the program will look like,” Richard told Marijuana Moment.

Arizona was the 13th state to vote to legalize adult-use cannabis.

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Zero Illinois Cannabis Businesses Are Majority-Owned by a Person of Color

12/14/2020

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Nearly a year after adult-use cannabis legalization in Illinois, not a single licensed cannabis business in the state is majority-owned by a person of color, the Chicago Sun-Times reports. Democratic State Rep. La Shawn Ford said the lack of industry social equity can be traced back to the licensing rollout which allowed entrenched medical cannabis businesses the first crack at recreational licensing.

Attorney Akele Parnell, of the Chicago Lawyers Committee for Civil Rights who has worked with social equity applicants in the state, said those applicants will “never have a fair share in the industry.” He estimates that minorities would end up with ownership control of about 10 percent to 20 percent of the state’s cannabis industry.

“We’ve just seen the benefits accrued to the same old folks: people that are wealthy to begin with, well-connected. That’s not what we intended to accomplish with legalization. But it does seem like that’s where we’re going to end up, based on how we set up the program.” – Parnell to the Sun-Times

The state’s largest cannabis companies, Cresco, GTI and PharmaCann, account for 34 percent of the rental revenue for Innovative Industrial Properties – a publicly-traded real estate investment trust that is outside the scope of state regulators because it doesn’t touch the plant. According to the report, IIP’s stock value has increased by about 100 percent this year.

Ford calls IIP’s role in the state “very alarming” and akin to a monopoly, which he told the Sun-Times lawmakers and the governor “have a responsibility to regulate and end.”

Parnell said it was up to regulators to “create a marketplace where we don’t end up with a duopoly. He described the current marketplace as “sort of oligopoly or racial monopoly.”

In July, state officials announced they would be using $31 million from cannabis-derived taxes for its Restore, Reinvest and Renew Program, a grant program aimed at small businesses and non-profits in disadvantaged communities. In June, regulators said the state’s social equity licenses would be awarded in July; however, according to the Sun-Times report, those licenses still have not materialized.

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Weedmaps Going Public with Nasdaq Listing

12/11/2020

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WM Holding Company – the parent of Weedmaps – is set to go public through a merger with Silver Spike Acquisition Corp. The deal values Weedmaps at $1.5 billion.

WMH Chief Executive Chris Beals, who will lead the combined company, told Reuters that when investors “look at what [the company] is offering, there’s really not too much else like it.”

“With this merger, we will be able to continue scaling the Weedmaps marketplace in the U.S. and internationally in service of our users while expanding the functionality of our WM Business SaaS offerings in service of our clients. Our partnership with Silver Spike will provide us a stronger platform to advance our mission to advocate for legalization, social equity and licensing in many jurisdictions while providing cannabis businesses with the tools needed to succeed in a highly complex world of regulations.” – Beals in a statement

Weedmaps expects to receive gross proceeds of up to $575 million from the deal, it said in a Securities and Exchange Commission filing, in part from Silver Spike-raised funds and through $325 million in a private investment in public equity, or PIPE, transaction, which includes funds from the Federated Hermes Kaufmann Funds, Senvest Management LLC, and AFV Partners, the company said.

In the SEC filing, Weedmaps indicated it has a CAGR of 40 percent over the last five years and estimates $160 million in revenue and $35 million in EBITDA for this year.

Scott Gordon, CEO and Chairman of Silver Spike, said the publicly-traded special purpose acquisition company believes Weedmaps “is the most compelling investment opportunity in cannabis today.”

Silver Spike raised $250 million in a Nasdaq initial public offering in August 2019 with plans to buy a cannabis-related company.

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Florida Lawmaker Announces Cannabis Misdemeanor Expungement Bill

12/11/2020

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A Florida Senator announced he will introduce a bill in the 2021 legislative session to help Floridians expunge their low-level cannabis crime convictions, according to the Orlando Sentinel. Announcing the bill in front of a medical cannabis dispensary, Senator Randolph Bracey (D) believes the bill helps communities disproportionately affected by the war on drugs.

“I think it’s extremely important, especially when you look at the people who have not been able to get a job, not been able to apply for school because of these minor convictions.” — Florida state Sen. Bracy, in an announcement

Under the provision, all court costs are covered but expungement is not automatic. Floridians must apply to have their convictions expunged and the law only applies to misdemeanor possession and distribution of under 20 grams.

“We have created and expanded a billion-dollar marijuana industry and yet we have not repaired people who for decades have been incarcerated for low-level marijuana crimes,” Sen. Bracey said. “It is time as this industry continues to expand, that we repair people and make people whole so they can start to build their lives so these convictions don’t haunt them for the rest of their lives.”

Florida is predicted to be one of the next states to legalize adult-use cannabis. Currently, there are two adult-use initiatives making their way toward the 2022 ballot in Florida.

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Detroit Adult-Use Cannabis Licenses Coming This Summer

12/11/2020

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Detroit will issue adult-use cannabis licenses this summer. Somewhat controversially, the licenses are set to go to “legacy” applicants, who are described as “longtime city residents.” The plan and timeline were unveiled by Mayor Mike Duggan and Councilman James Tate.

Applications go online starting January 19, 2021. Legacy applicants will get a six-week head start in the application review process. The mayor urged residents who want to “jump-start their marijuana business” to apply quickly.

According to The Detroit News, legacy applicants must have “lived in Detroit for 15 of the last 30 years; lived in Detroit for 13 of the last 30 years and are low-income; or lived in Detroit for 10 of the last 30 years and have a past marijuana-related conviction.”

Legacy applicants will be eligible for a 25% discount of fair market value on city property and can access technical assistance and reduced fees. All legacy certification applications will be reviewed by the Civil Rights, Inclusion and Opportunity Department.

A November ordinance passed by the city council calls for at least 50 percent of Detroit licenses to go to legacy applicants.

“It’s by far the most controversial provision. The city will not issue a license to any business unless 50 percent of the licenses in that category are Detroiters. Which means if you’re from outside the city, you can’t get a license unless a Detroiter already has one. We’ll never go below fifty percent.” — Mayor Duggan, in a statement

Leaders say the rule is designed to help communities disproportionately affected by the war on drugs access the economic benefits of legal cannabis.

“It was imperative for us to ensure we right that wrong,” said Councilman Tate. “We have individuals who are making a very good living on marijuana today, the same plant that created this situation of mass incarceration around our country in the city of Detroit, so this is an opportunity for us.”

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Canopy Growth Lays Off 220 Workers & Closes All Outdoor Cultivation

12/11/2020

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Canopy Growth Corporation on Thursday announced shutdowns at five cultivation sites and layoffs of 220 employees which the company says will help them achieve their target cost savings of $150 million to $200 million and “streamline operations” and “improve profit margins.”

Canopy Growth will cease operations at their sites in St. John’s, Newfoundland and Labrador; Fredericton, New Brunswick; Edmonton, Alberta; Bowmanville, Ontario; and its outdoor operations in Saskatchewan.

The sites impacted represent about 17 percent of the Canopy’s indoor Canadian footprint and 100 percent of its Canadian outdoor footprint.

David Klein, CEO, Canopy Growth said in a press release that while the decision is “difficult” it accelerates the firm’s “path to profitability.”

“As part of the end-to-end review of our operations that we outlined during our second-quarter earnings call, we have made the decision to close a number of our production facilities. … We are confident that our remaining sites will be able to produce the quantity and quality of cannabis required to meet current and future demand.” – Klein in a statement

Canopy said it expects to record estimated total pre-tax charges of approximately $350 million to $400 million in the third and fourth quarters of fiscal year 2021.

It’s the third round of mass layoffs for the company this year after cutting ties with 500 employees in March – which coincided with the closure of two British Columbia greenhouses – and another 200 in April.

In April, the company also announced it would sell off its operations in South Africa and Lesotho, shutter its indoor facility in Yorkton, Saskatchewan, end its hemp farming operations in Springfield, New York, and close its Colombia-based cultivation facility.

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New Mexico Cannabis Regulators Want to Raise Plant Limits for Growers

12/11/2020

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New Mexico’s medical cannabis advisory board on Wednesday recommended allowing licensed producers to cultivate more plants amid patient complaints about the lack of variety and the high cost of products, the Associated Press reports.

Under current rules, licensed producers can grow 1,750 plants.

Dr. Dominick Zurlo, director of the state’s medical cannabis program, argued that next year companies can request to cultivate another 500 plants each. He noted that previous plant increases have not brought prices down but could not explain why prices remain high. Zurlo said the state has enough supply for the 101,000-plus enrolled patients and that companies reported growing just over 30,000 plants as of Sept. 30, but they can grow a combined total of 51,000.

“At this current time, production is actually outstripping the sales. What we as a program and department would really like to see is prices reduced and I think the current production really is showing that those prices could have been reduced.” – Zurlo during the meeting via the AP

Ultra Health, one of New Mexico’s largest producers, has argued in public meetings and as part of court challenges that the Health Department plant limits are arbitrary.

Cannabusinesses in the state contend that the state’s fee structure adds to operating costs which keeps prices high.

The board also recommended that officials adopt changes to medical cannabis reciprocity rules – a hot-button issue in New Mexico where earlier this year lawmakers passed a bill to prohibit out-of-state-patients access to medical cannabis ID cards. Additionally, the board wants to close a loophole that allows New Mexicans to see a provider online and get medical cannabis authorization in another state.

During the meeting, the board also denied a petition to allow medical cannabis as a therapy for pets with seizure disorders.

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U.S. House Approves Cannabis Research Bill

12/10/2020

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The U.S. House of Representatives on Wednesday approved a bill to make it easier for cannabis research in states where it is legal, Politico reports.

The measure would amend the Controlled Substances Act to create a structure for, and remove limitations on, cannabis research. The bill directs The Department of Health and Human Services and Department of Justice to create a licensing program for additional federal cannabis producers. Currently, the federal government only allows the University of Mississippi to grow cannabis for research purposes. Once licensed, researchers would be allowed to submit their research to the Food and Drug Administration.

Additionally, the bill would speed up the wait times for cannabis research applications and reduce some regulations that researchers face when trying to get federal approval to study cannabis.

Last week, a lawsuit was filed on behalf of Dr. Lyle Craker, of the University of Massachusetts – Amherst, against the Drug Enforcement Administration, U.S. Attorney General William Barr, and Acting DEA Administrator Timothy Shea over the federal government’s failure to process cannabis research applications.

Dr. Sue Sisley, a cannabis researcher at Arizona’s Scottsdale Research Institute, is also suing the agency over its cannabis research policies.

The DEA said in March that it would issue new licenses for cannabis research after announcing plans to allow more cultivators in 2016. In 2019, then-Acting DEA Administrator Uttam Dhillon said that the DEA supports “additional research into marijuana and its components [and] believe registering more growers will result in researchers having access to a wider variety for study.” However, the DEA has still not issued any additional licenses.

In July, the House approved a highway infrastructure bill that included an amendment to give researchers a pathway to study cannabis products sourced from state-legal dispensaries; however, that language was removed in the Senate version.

Last week the chamber approved the MORE Act, which would end federal cannabis prohibition. The measure has an uphill battle in the Senate, which is currently controlled by Republicans. However, control of the Senate will be determined in two runoffs in Georgia next month.

The research bill was sponsored by Reps. Earl Blumenauer (D-Ore.) and Andy Harris (R-Md.) and received bi-partisan support in a voice vote.

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Poll: During Pandemic, 45% of Alcohol Consumers Choose Cannabis Instead

12/10/2020

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A Harris Poll survey conducted on behalf of cannabis company Curaleaf found 45 percent of respondents have reduced or replaced their alcohol consumption with cannabis since the start of the coronavirus pandemic.

One-third of respondents said they prefer cannabis to alcohol.

The poll also found that 42 percent of respondents started consuming cannabis or increased their use since the beginning of the pandemic.

More than half of respondents (54 percent) said they had started using cannabis or increased their use due to stress and anxiety – including 64 percent of women polled and 47 percent of men. Half of those surveyed attributed their increased use or foray into cannabis to wanting to relax, while 48 percent of respondents said they had started using cannabis or increased their use to help them sleep.

More than half (52 percent) of parents surveyed who use cannabis said they started using cannabis or increased their use since the start of the pandemic, compared to 33 percent of those surveyed who are not parents to children under 18-years-old. Parents were also more likely to use cannabis medically than non-parents (58 percent to 44 percent). Another 57 percent of parents said they had used cannabis to reduce or replace their alcohol use.

Joe Bayern, president of Curaleaf, said that since the pandemic’s start, the company has “seen an increase in new consumers at our dispensaries with more people exploring cannabis.”

“The liberalization of the plant – and the increasing diversity among consumers who enjoy it – will continue as the general public becomes more interested in incorporating cannabis in their health and wellness routines.” – Bayern in a statement

The poll was conducted online last month and had 1,895 responses from adults 21-and-older; 772 respondents had never used cannabis.

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Mexican Lawmakers Ask Court to Extend Cannabis Legalization Deadline

12/10/2020

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Mexican lawmakers are again asking the nation’s Supreme Court to extend the cannabis legalization deadline to February, according to a Milenio report outlined by Marijuana Moment. Chamber of Deputies President Dulce María Sauri said the body needs more time “to improve the framework” for the legalization bill, which was approved last month by the nation’s Senate.

In 2018, the Supreme Court ruled that the ban on personal cannabis use and cultivation was unconstitutional, directing lawmakers to formally end criminalization by October 2019; however, lawmakers have repeatedly asked for – and been granted – an exception to that deadline, which is currently December 15.

“I am sure that the Court, which follows these deliberations very closely, will see that the legislative work is well advanced. I am sure that the Supreme Court of Justice will agree to do what is necessary to provide a good regulatory framework in this matter.” – Sauri to reporters via Milenio and Marijuana Moment

The bill approved by the Senate allows personal possession up to 28 grams, home cultivation up to four plants, and taxed-and-regulated sales provided the product meets THC caps. The bill also includes expungement for crimes legal under the new regime and for the first five years after licensing begins, at least 40 percent of licenses must be awarded to applicants from indigenous, low-income, or historically marginalized communities.

If approved, Mexico would be the third nation to legalize cannabis, following Uruguay and Canada. The legal market would be the world’s largest by population.

The measure was overwhelmingly approved by the Senate on an 82 to 18 vote with seven abstentions.

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Medical Cannabis Shortages Hit Missouri

12/10/2020

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Two months after making its first sale, Missouri’s medical cannabis system is experiencing shortages but industry experts are optimistic patients will have a wide range of medical cannabis products available soon. According to St. Louis Public Radio, Missouri has already approved 70,000 patient and caregiver licenses. At the moment, there are only dispensaries in the St. Louis metro area, Ellisville, St. Peters, Manchester, and Washington.

Jack Cardetti of the Missouri Medical Cannabis Trade Association said that eventually there would be 192 dispensaries around the state.

“To put that into perspective, over in Metro East Illinois, there are only [three] dispensaries over there. The St. Louis area — the St. Louis region in general, on the Missouri side — is going to have two to three dozen dispensaries, so patients aren’t going to have to go halfway across the state to get their medicine.” — Cardetti, during an SLPR interview

Cardetti said Missouri has implemented its medical cannabis system relatively fast, only second to Oklahoma. “Just last week, the first infused product manufacturer got approved to start operating,” he said in the interview. “When someone walks into a dispensary right now, they’re mostly going to have flower to choose from. But in the coming weeks and months, they’ll be able to have the full assortment — edibles, tinctures, vapors and all of those.”

According to Mitch Meyers, CEO of BeLeaf Medical Co., “Part of the challenge is, if you only have a dispensary license, you can open, but you’re waiting for companies like ours or others, to get their cultivation or manufacturing license open, to be able to provide you product.”

“We are very fortunate to have a vertically integrated license,” Meyers said.

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Survey: 70% of Americans Support Expunging Cannabis Crimes

12/09/2020

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A recent YouGov.com survey found that a 70 percent supermajority of Americans supports the expungement of nonviolent cannabis convictions. Only 17 percent of respondents said they opposed cannabis expungements.

The specific question posed was, “Do you support or oppose expunging marijuana-related convictions for non-violent offenders?”

Image credit: YouGov.com

The pollsters also found support for the issue was bipartisan throughout the U.S., with 80 percent of Democrats, 69 percent of Independents, and 57 percent of Republicans saying they either strongly support or somewhat support cannabis conviction expungement.

Image credit: YouGov.com

“Millions of citizens unduly carry the undue burden and stigmatization of a past conviction for behavior that most Americans no longer believe ought to be a crime, and that in a growing number of states is no longer classify as a crime by statute. Our sense of justice and our principles of fairness demand that officials move swiftly to right the past wrongs of cannabis prohibition and criminalization.” — NORML Deputy Director Paul Armentano, in a press release

Earlier this month, the U.S. House of Representatives approved the MORE Act to decriminalize and deschedule cannabis at the federal level. It was the body’s first-ever vote aimed at undoing cannabis prohibition. While historic, the bill, however, is unlikely to even be considered by the GOP-controlled Senate.

Meanwhile, a record number of Americans support legalizing cannabis for adult use, according to the latest Gallup poll.

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Medical Cannabis is Now Maine’s Most Lucrative Crop

12/09/2020

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Medical cannabis sales in Maine surpassed $221.8 million from January through November, making the crop the state’s most lucrative, outpacing potatoes, milk, hay, and wild blueberries, the Portland Press Herald reports. The total also represents a new annual sales record for medical cannabis, with still about three weeks left in 2020.

The figures include sales from Maine’s eight medical cannabis dispensaries and network of nearly 3,000 registered caregivers, who serve about 65,000 certified patients. The total does not include recreational cannabis sales, which began in October and reached $1.4 million in sales during its first month.

Patrick Anderson, CEO of Anderson Economic Group, which issues a monthly national cannabis market benchmark, told the Press Herald that the industry has “been participating in a national experiment” since the start of the pandemic in March.

“What we’ve learned is that no matter what, Americans are going to get their cannabis, alcohol, baking supplies and cars, regardless of the economy.” – Anderson to the Press Herald

Last year, medical cannabis sales in the state reached $109 million. Caregivers comprised 76 percent of the state’s 2019 sales totals, the report says.

Eric Maxim, a caregiver of seven years who opened Cannamax in October 2019, said that operators “didn’t know what to expect” with the pandemic-related lockdown but his business “has continued to grow throughout.”

“We are expanding our hours and hiring two employees,” Maxim told the Press Herald. “We aren’t going to go nuts, but we have seen a lot of people coming in looking for relief. Let’s just say I’m twice as happy as I thought I’d be.”

Maine officials recently approved rules allowing physicians to certify patients for any medical condition and allowing program reciprocity which, considered together, are likely drivers for the sales spike.

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Denver Considering New Cannabis Delivery & Social Equity Rules

12/09/2020

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Denver, Colorado’s Division of Excise and Licenses on Monday announced three cannabis industry bills that would remove the number of dispensary caps, create a social-equity program, and allow cannabis delivery and social-use licenses, the Denver Post reports.

If removing the license caps is approved, it would be the first time new cannabusinesses are permitted in the city since 2016.

Sarah Woodson, executive director of The Color of Cannabis, said all three measures were crafted through a lens of social equity. For the first six years, they’re available, the delivery licenses and new dispensary and cultivation licenses would only be available to social equity applicants, she explained.

In Colorado, social equity applicants are defined as someone who has been arrested or convicted – or has a relative that was arrested or convicted – of a cannabis offense; someone who has experienced asset forfeiture due to a cannabis-related investigation; a person who has lived in an economic opportunity zone for at least 15 years between 1980 and 2010; or someone whose household income falls 50 percent below the state median. Social equity licensees would also receive discounts on permit fees and renewals.

Existing dispensaries that wanted to provide delivery services would have to partner with a third-party for the first three years and then could provide the service in-house. Currently, the cities of Boulder, Superior, and Longmont allow medical cannabis delivery, but not adult-use.

“Exclusivity is extremely important simply because the market’s already saturated, so it gives social equity applicants a real fighting chance to start a business and to be able to possibly scale. … This is about people getting more opportunity, specifically people who have been negatively affected by cannabis prohibition.” Woodson to the Post

The two social-use proposals include a tasting room-style that would allow sales and on-site use and another allowing only consumption, including on tour-buses.

If approved, all of the licenses would start being issued by July 1, 2021.

In 2018, Denver approved social-use licenses, but the proposed regulations would repeal that voter-approved law which never took off because the scheme was only marginally profitable. Only one Denver business – The Coffee Joint – currently holds one of those licenses.

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Wyoming Poll Finds Majority Support for Cannabis Legalization

12/09/2020

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A new survey conducted by the University of Wyoming’s Wyoming Survey and Analysis Center (WYSAC) found 54 percent of state residents support broad cannabis legalization – the first time the polling group has found majority support for the reforms.

In 2014, the WYSAC found just 37 percent supported the reforms. Support rose to 41 percent in 2016 and 49 percent in 2018.

Another 75 percent of those polled said low-level cannabis possession should not lead to jail time, an increase from 66 percent in 2014 and 29 percent in 2018.

Support for medical cannabis legalization in the state was measured at 86 percent in 2018, and the poll released Tuesday found a slight decrease in support to 85 percent. Wyoming is one of just six states that does not have a medical cannabis program.

Brian Harnisch, a senior research scientist at WYSAC, noted that all of Wyoming’s border states – except Idaho – has legalized cannabis either medically or for adult-use.

“As laws regarding the legalization and decriminalization of marijuana change around the U.S., especially in nearby states, it’s not surprising to see attitudes in Wyoming change as well.” – Harnisch in a statement

The WYSAC noted that respondent support for cannabis law reforms “decreases as age increases,” finding 74 percent of 25- to 34-year-olds backed legalization in the state, along with 68 percent of 35- to 44-year-olds, 67 percent of 18- to 24-year-olds, and 51 percent of 55- to 64-year-olds. The survey found 45 percent of 45- to 55-year-olds supported the reforms, with 40 percent of those aged 65 to 74, and just 30 percent of those 75 and older.

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Louisiana Opens 2021 Hemp Application Period

12/09/2020

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Louisiana is opening its hemp application period for 2021, the Associated Press reports. It is the second year of Louisiana accepting hemp cultivation applications.

The state program started in the wake of the 2018 Farm Bill that removed hemp from the list of federally ccontrolled substances. There are currently 160 licensed hemp growers in Louisiana’s highly regulated hemp program. Applicants must take a background check. A felony within the past ten years or a drug-related misdemeanor within the past two years will disqualify an applicant from obtaining a license. Farms are heavily monitored to make sure THC-rich cannabis does not make its way into Louisiana hemp fields.

Louisiana farmers are mainly hoping to cash in on the growing popularity of cannabidiol (CBD) but hemp can be used for many other applications like fuels, clothing, rope, and other household products.

Until 2018, hemp — defined under the Controlled Substances Act as a cannabis plant containing less than 0.3% Delta-9-THC — was rarely cultivated in the United States. The 2018 Farm Bill, however, removed hemp from the CSA, leaving room for a rapidly growing CBD industry with demand rising from coast to coast.

Forbes reports the CBD industry is expected to reach $20 billion by 2024. Experts predict the majority of hemp products will be sold in retail stores rather than dispensaries in the coming years and, as adult-use cannabis laws spread across the country, the hemp/CBD market will continue to grow.

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Creso Pharma Applauds US House’s Marijuana Vote, Plans Eventual Entry to US Market

12/08/2020

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Investors and cannabis stocks the world over have been buoyed by positive regulatory news from the United States, with the House of Representatives passing the Marijuana Opportunity Reinvestment and Expungement (MORE) Act to remove cannabis from the US Controlled Substances Act.

The North American cannabis industry projects widespread benefits from lawmakers’ decision to decriminalise cannabis (note: the bill must pass through the Senate), encouraging investors and corporate America to fully unlock the value of a multi-billion dollar industry, expected to surge to $130 billion by 2024.

Global cannabis grower and CBD product developer Creso Pharma Limited (ASX: CPH; FRA: 1X8) aims to be one of the best-placed ASX-listed companies to capitalise on significant growth opportunities in the US market.

The company has an established global distribution network that will benefit from the ruling, as well as a leading Canadian subsidiary, Mernova Medicinal Inc.

Mernova is a 100% Creso-owned, fully licensed, 24,000 sq. ft cannabis growing facility in Canada, only 1,700 miles from the US border, an ideal location to be able to cater to the Canadian and US market. This growing facility is already in operation and generating revenues, with a number of Purchase Orders signed in recent months, including circa $320,000 from one client alone.

In late October, CPH received and successfully delivered its third purchase order (PO) from the Nova Scotia Liquor Corporation (NSLC). The third PO is for 20 cases of Mernova’s ‘Mimosa’ (15-20% THC, less than 1% CBD) strain which is Mernova’s value brand now launched under the Ritual Green brand.

It also received a second purchase order from Pharma Dynamics for CPH’s cannaQIX® product – sold under the ‘Cannamics’ brand. This followed the successful product launch into the South African market in March 2020.

Eyeing a potential US market

With the US market now on its radar, Mernova can scale up operations to meet potential demand from this market and will benefit directly upon legislation passing – if and when it occurs.

Creso has also recently appointed Canadian cannabis icon Bruce Linton as a Strategic Advisor. Mr Linton was the founder and CEO of Canopy Growth (TSX: WEED | NYSE: CGC), which he built from a tiny start-up into a US$15BN market cap powerhouse at its peak.

Mr Linton’s presence will facilitate Creso’s expansion into the US market. There is already substantial appetite for the group’s Swiss CBD products in the US, the world’s largest recreational and medical cannabis market. Creso is now exploring several initiatives to roll its products out as soon as legislation occurs.

Purchase orders multiply in Europe

In Europe, CPH continues to sell its CBD products in the animal health market via its Swiss operations, with a total of A$975,000 in Purchase Orders confirmed.

Europe has undertaken its own legislative overhaul. On 19 November 2020, the Court of Justice of the European Union (CJEU) ruled that member states must not prohibit the marketing of lawfully produced CBD. The CJEU ruled that CBD is not considered a narcotic, and as a result, CBD can be freely sold in the European Union (EU).

Creso Pharma expects to benefit from this decision, particularly given the company already has commercial agreements in place in the region.

In August, Creso Pharma signed a commercial agreement with DHS Business Portugal to introduce the group’s products into the Portuguese and Spanish markets, effectively expanding the company’s presence in Europe.

Global regulatory developments cause CPH share price surge

Last week’s regulatory shifts in the European Union and United Nations reclassification of cannabis add further significance to current developments. With shares surging from 3c to as much as 22c today, CPH is currently trading at levels not seen since February 2020 when COVID sent global markets tumbling.

Creso co-founder and Director Boaz Wachtel said, “This is a historic ruling that will create significant growth opportunities in our burgeoning industry. It follows similar regulatory shifts in the European Union and from the United Nations that highlight public acceptance for cannabis and CBD-derived products is at an all-time high.

“The company has a robust balance sheet, allowing it to progress near and medium term growth initiatives, as well as an established Canadian subsidiary in Mernova, which can be scaled up to address the US market,” Wachtel said. “Creso is very well positioned to capitalise on opportunities arising from the market in the USA.”

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Canadian Official Says Low-Quality Cannabis Is Driving Illegal Sales

12/08/2020

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Unregulated transactions comprise about 80 percent of cannabis sales in Ontario, Canada, according to a report from the province’s auditor general outlined by CTV. The majority of consumers who still purchase outside of the legal market say unregulated products are of better quality.

“In our discussions with cannabis store managers and AGCO staff, we heard that some people prefer illegal cannabis because it is more potent and the product is fresh.” – Auditor General Bonnie Lysyk, in the report via CTV

Customers have described Ontario Cannabis Store flower as “subpar” and “too dry.”

Lysyk also warned that licensed shops could be tempted to start offering illegally-acquired products due to the quality chasm and lack of industry oversight.

“As more stores open and competition increases among retailers, they will have an incentive to generate greater profit margins by selling illegal products that compromise consumer health,” the report said.

In a press release, the auditor general’s office said the agency “is not properly monitoring the movement of recreational cannabis in retail stores,” pointing out that from September 2019 to July 2020 cannabis shops reported having “84,228 fewer units on hand than recorded in their inventory systems” while reportedly destroying 5,477 units of cannabis products.

Additionally, Lysyk’s office said that the AGCO has followed up on “only two-thirds of complaints about cannabis stores in the past two years.”

The agency notes that it “closely monitors” websites selling cannabis illegally to compare processes and products.

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New Jersey Considers Reducing Psilocybin Possession Penalties

12/08/2020

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New Jersey’s Assembly Judiciary Committee on Monday advanced a bill to lower the penalty for possessing up to one ounce of psilocybin mushrooms from a potential five-year prison sentence to a maximum $1,000 fine and six months in jail, NJ.com reports. The measure drops the classification from a third-degree crime to a disorderly person offense.

Psilocybin decriminalization was included as an amendment to the cannabis legalization bill previously approved by the Senate, but Assembly leaders would not vote on a bill that included psilocybin reforms. Assemblyman James Kennedy (D), the bill’s sponsor, explained the standalone measure is “simpler than what appears on the surface,” describing it as a “downgrading of the charges.”

The Judiciary Committee approved the measure 4-1 with one abstention. Republican Christopher P. DePhillip, the lone ‘no’ vote, said he opposed the measure because he thinks “the bill sends the message to young people…that the recreational use of these substances is really not that big a deal.”

During last month’s General Election, voters in Washington D.C. approved an initiative to decriminalize psychedelic plants and fungi, while Oregon voters decriminalized all drugs and legalized psilocybin therapy. Several California cities have moved to end the criminalization of mushroom possession, along with the city of Ann Arbor, Michigan.

New Jersey Gov. Phil Murphy (D) said on Friday that lawmakers had come to an agreement on the cannabis legalization bills required by the voter-approved ballot question.

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The Aftermath of the War on Drugs

12/08/2020

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The War on Drugs is only a symptom of a much larger system of racism and oppression. The very foundation of this country’s existence is white supremacy. Each battle of this war has its issues and inequities, all contributing to the purposeful targeting, exploitation, and exclusion of black people from the billion-dollar cannabis industry.

In this multi-part series, I will cover some critical historical points of the War on Drugs. At each point, we will acknowledge the past, identify the overarching issues, and correlate those issues to our reality as cannabis consumers, advocates, and entrepreneurs. As 2020 closes, it is still painfully evident that there is work to be done. With social distancing still in full effect, we can connect virtually around these topics to incite meaningful and effective organizing.

Part 1: The Precedence

Lessons from the past

The fight for justice in agriculture for black farmers is one dating back to 1865-at least. Former President Nixon’s Controlled Substances Act in 1970 marked the official beginning of the war on drugs. Before that, however, the civil rights movement was pivotal in America’s history for implementing systemically unjust policy within its core legal framework.

The period following the Civil War, also known as the Reconstruction era, was the Union’s attempt to cope with and compensate for the devastation the Civil War inflicted. Of course, depending on their perspective, the groups involved had very different ideas of how that looked. For the white supremacist South, that meant the preservation of white political power and domination. But for the newly freed slaves and emancipationists, it was full citizenship, male voting rights, and constitutional equality for African Americans.

The Civil Rights Act eventually passed. White supremacist groups feared African Americans would gain political power, wealth, and no longer be “inferior” to white people. Former Confederate states then adopted practices that created financial and educational barriers for black people participating in the voting process — now entering Jim Crow. The “separate but equal” laws set a legal precedent for institutionalized racism through the economic, educational, and social disadvantages of black people.

The correlation to our future

The implementation of bad policy in America’s legal framework has disproportionately affected black people to the point that they are almost four times as likely to be arrested for cannabis possession than a white person. This number has remained unchanged in the last decade despite numerous reforms. We see this issue of lacking representation and political influence still today, with multi-million dollar MSO-backed lobbyists and organizations controlling the narrative of cannabis legalization and criminal reform through media and policy change. As recently as last week, with the passing of the MORE Act, multiple social equity advocacy groups expressed their concern with added language in the bill that excludes people convicted of federal cannabis offenses from licensing and ownership in the industry, among other things. This measure is directly in conflict with the community organizers fighting for equity in the space. I mean, what is equity without ownership?

Social equity activist and Portland, Oregon Cannabis Regulator Dasheeda Dawson tweets, “No MORE freeing the plant without freeing the people. #MOREAct is historic … but effectively regressive for the cannabis equity movement.”

Even if the amendments were an oversight and not a direct slap in the face to the bill’s supporters — not inviting these individuals and organizations to the table should not be an option.

“If the RIGHT people were in the room, these erroneous additions would be noticed and flags raised,” Dawson writes.

The only way to successfully right the wrongs of America’s failed war on drugs is to consider and quantify the harm done to those most affected (i.e., black and brown people). Even further, those directly involved in the industry, whether formally or informally, are the most educated about the plant and the underlying effects of decades of racist policy and criminalization. That means they should be front-row and center as this process unfolds at the local and federal levels.

The call to action

Get involved with your local advocacy organizations. They need your help. I know because I work with them day-to-day to create more opportunities for black ownership in cannabis. People ask me, “How do I get into the cannabis industry?” My answer is: be willing to do the work.

Making the time to engage and educate your representatives is also mission-critical. I always say systems do what they are intended to do — until you destroy them. Subsequently, dismantling the system that perpetuates racism and oppression will take effective organizing and unified action.

Click here to be a part of the upcoming conversations in this series:

12/15/2020: How the War on Drugs Affects Agricultural Business
12/29/2020: How the War on Drugs Affects Hiring & Employment
01/12/2020: How the War on Drugs Kept Black Men out of College
01/26/2020: How the War on Drugs Affects Housing and Healthcare
02/09/2020: How the War on Drugs Affects Ownership in Cannabis

I love to connect with other impactors in the space. So much that I’m developing my own social network just for US. Sign up as a beta tester for LinkUp, a Cannabis Social Networking Community for professional networking and workforce development platform, and be the first to have a peek!

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South Dakota Rules Committee Approves Hemp Regulations

12/08/2020

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The South Dakota Legislature’s Rules Committee on Monday approved hemp regulations proposed by the state departments of Agriculture and Public Safety, according to a KELO report. The regulations have already been approved by the U.S. Department of Agriculture as required under the 2018 Farm Bill which legalized hemp nationwide.

Katie Sieverding, executive director of the South Dakota Industrial Hemp Association, told KELO that some farmers and industry entrepreneurs “would have pressed the ‘go’ button back in March before the ink was dry on HB 1008” – the bill to legalize hemp in the state that was approved by Republican Gov. Kristi Noem earlier this year.

Noem had previously vetoed similar hemp legislation in 2019.

Republican Rep. Jean Hunhoff, who twice voted in favor of the reforms, noted that the rules will take effect in 20 days and businesses “can march forward.”

“You have put your hard work in. I realize that this has been a slower process than you had anticipated, but I believe we do things the right way in South Dakota, and the right way is that goes through a formal hearing process. And I would hope next legislative session we’re going to hear about the great things that are coming with the hemp products of South Dakota.” – Hunhoff during the hearing via KELO

During the Nov. 5 General Election, South Dakota voters approved both medical and adult-use cannabis legalization – the first state to approve both reforms simultaneously. The constitutionality of the adult-use measure is being challenged by Pennington County Sheriff Kevin Thom and South Dakota Highway Patrol Superintendent Rick Miller. The lawsuit is supported by Noem and uses state government funds.

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New Jersey Legislature Reaches Deal on Cannabis Legalization

12/07/2020

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New Jersey Gov. Phil Murphy (D) said on Friday that lawmakers have come to an agreement on the bills to legalize cannabis required by the voter-approved ballot question. In a statement posted on Twitter, Murphy said the legislation “is a critical step in reducing racial disparities and social inequities that have long plagued” the state’s criminal justice system.

“This legislation will accomplish our shared goals of delivering restorative justice and ensuring that the communities most impacted by the War on Drugs see the economic benefits of the adult-use cannabis market. While there is still much work ahead, we are one step closer to building a news, promising industry for our state.” – Murphy in a statement

According to an NBC New York report, the legalization bill caps cultivation licenses at 37 but allows licensed growers to open as many dispensaries as they can get approved by municipalities. The cap will expire after two years.

The measure allows municipalities to impose a 2 percent sales tax, while the state will impose its standard 6.625 percent sales tax. Eventually, cannabis sales will also carry a social equity tax which is not included in this version of the legislation; however, the bill does apply 70 percent of revenues derived from sales to a social equity fund. The remaining will be used for law enforcement training for cannabis-impaired driving and administering the program.

State Sen. Nick Scutari (D) – a longtime champion of drug law reforms in New Jersey – told CBS New York that the measure includes language to lower psilocybin penalties to a misdemeanor charge. He said there would be a separate bill to downgrade possession from a three-to-five-year prison term to up to six months in jail.

“I’m gratified that leaders of both houses and the and the governor have come together on a state-of-the-art piece of legislation in accordance with the wishes of the voters,” Scutari told NBC New York. “I’m also gratified I didn’t waste the last 10 years of my life on this.”

The measure still requires full legislative approval. The possession reforms included in the legalization question take effect on January 1.

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U.S. Marine Corps Employee Sentenced for Cannabis Sales In Japan

12/07/2020

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A former civilian employee for the U.S. Marine Corps was sentenced last week in Japan’s Naha District Court to four years and four months in prison for cannabis sales, Stars and Stripes reports. Charles Yecla, 40, worked for Marine Corps Installations Pacific at the time of his arrest last year along with two other civilian employees and his son.

Chief Justice Hironobu Ono said at the sentencing that Yecla “spread marijuana’s evil influence far and wide,” and that the American “deserves the sentence.” Yecla was also fined the equivalent of $9,600.

According to a Ryukyu Asahi Broadcasting report, prosecutors say Yecla and his son sold cannabis from January to August 2019, earning more than $67,000. After Yecla’s arrest, police also found about a half-pound of cannabis worth about $10,600 and six potted plants, the Okinawa Times reported.

The two other unnamed Americans – a 30-year-old in Yomitan and a 39-year-old in Uruma – were arrested on Aug. 30 and Oct. 23, respectively, after purchasing cannabis from Yecla, police said. Both men were charged with possession.

In all, police have arrested are referred charges for 20 people for their part in the ring, according to Stars and Stripes. Among those arrested was Hironori Tokito, 42, a former Okinawa bar manager who previously served as an assembly member for Umi town in Fukuoka prefecture.

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