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North Dakota’s Measure 5 would create a medical cannabis program for patients suffering from “debilitating medical conditions” — including in this case cancer and it’s treatments; HIV/AIDS; Hepatitis C; ALS or Lou Gehrig’s disease; post-traumatic stress disorder; Alzheimer’s disease, dementia and its treatments; Crohn’s disease, fibromyalgia; spinal damage/stenosis; chronic back pain; glaucoma; epilepsy; neuropathy; and wasting syndrome. The North Dakota Health Department would be able to add conditions after the fact, and citizens would be permitted to petition for condition approval under the program.

Update 11:04 pm EST – North Dakota voters have approved Measure 5 to legalize medicinal marijuana, according to numbers from the Associated Press via Google’s Election Tracker.

Update 10:34 pm EST – The gap has widened to 62-38 in favor of Measure 5 with 55 percent of precincts reporting, according to the Associated Press via Google’s Election Tracker.

Update 9:50 pm EST – The Associated Press via Google’s Election Tracker reports 60 percent to 40 percent in support of Measure 5 with 20 percent of precincts reporting.

Update 9:20 pm EST – The Associated Press via Google’s Election Tracker reports voting on Measure 5 is, so far, close at 54 percent to 46 percent in favor with 6 percent of precincts reporting.

Stay tuned to this article to learn more about North Dakota’s MMJ election results as the day carries on — we will be making updates as the news breaks.

Taxes: There are no tax implications.

Fees: $25,000 license fees following Health Department approval.

Revenue disbursement: A Compassionate Care Fund will be created, comprised of donations, fees, and civil penalties imposed.

VIDEO: Overview of Cannabis Initiatives

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Maine Marijuana Legalization Question 1 Results: Live Updates

11/08/2016

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Maine joins Massachusetts as the earliest East Coast attempts at a state legalization initiative (the District of Columbia legalized by voter initiative in 2014). Question 1 on the Maine general election ballot would legalize adult-use cannabis for anyone 21 years old or older.

The Maine legalization story has drummed up a lot of controversy and support throughout its course this year. In March, it was said that the initiative had been disqualified due to a group of 17,000 allegedly faulty petition signatures, as per a decision made by Secretary of State Matthew Dunlap — however, that decision was later overruled by Kennebec County Superior Court Justice Michaela Murphy.

The initiative has a slim majority support among voters, though many state officials have come out against legalization. Maine Governor Paul LePage made headlines when he posted a Facebook video in which he made accusations hearkening to the days of Reefer Madness propaganda, including a false claim that cannabis-related traffic deaths had risen in Colorado since that state voted to legalize.

If you check back to this post throughout the evening, we will be live updating the article as election results come in.

Update 6:15 pm PST – Ballot counting has begun in Maine, and the early numbers are looking good for Question 1, with 53 percent in favor and 47 percent opposed, according to numbers from the Associated Press.

Question 1, “Marijuana Legalization Act”

Personal possession limits: 2 1/2 ounces (includes transfer without renumeration).

Taxes: 10 percent retail sales tax.

Fees: Application fees for any industry license could range from $10 to $250.

License fees for retail locations and marijuana social clubs range from $250 to $2,500.

License fees for testing facilities are $100.

Cultivation license fees range $10 to $100 per 1,000-square-feet.

Product manufacturing licenses range from $100 to $1,000

Revenue disbursement: Revenues will be deposited into the General Fund.

VIDEO: Overview of Cannabis Initiatives

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Florida Medical Marijuana Amendment 2 Results: Live Updates

11/08/2016

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Many eyes are watching Florida this year as it takes its second attempt at establishing a workable medical marijuana program. Advocates tried and narrowly failed to pass a constitutional amendment in 2014, and they are at it again for the 2016 general election.

Florida’s Amendment 2 would legalize cannabis treatment for patients suffering from the following conditions: cancer; epilepsy; glaucoma; HIV/AID; post-traumatic stress disorder; ALS; Crohn’s disease; Parkinson’s disease; multiple sclerosis; “or other debilitating medical conditions of the same kind or class.” In order to succeed, the amendment must receive 60% or more of the popular vote — which was why the state’s 2014 amendment attempt ultimately failed, though it had majority support.

This year, Florida advocates have witnessed massive campaign contributions both in support and against their efforts.

If you’re interested in live updates on Florida’s medical marijuana progress tonight, check back to this article: we will be making notes as the results come rolling in.

Update 8:43 pm EST – The Associated Press and local Fox 13 reports Amendment 2 has passed 71 percent to 29 percent. The initiative required 60 percent support to pass.

Update 4:55 pm PST – Politico is beginning to tally the votes for Florida’s medical cannabis vote. With only 7 percent of the vote currently counted, Amendment 2 is boasting major support among Florida voters: 68.6 percent in favor and 31.4 percent against.

Amendment 2, “Use of Marijuana for Debilitating Conditions”

The Department of Health would be tasked in rolling out much of the program details, which need to be in place 6 months if the measure is passed by voters.

The amendment text permits Medical Marijuana Treatment Centers and caregivers, but it does not lay out any of the details included in other ballot initiatives, such as fees, taxes, possession limits and revenue disbursement.

VIDEO: Overview of Cannabis Initiatives

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Massachusetts Marijuana Legalization Question 4 Results: Live Updates

11/08/2016

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Massachusetts is one of two East Coast legalization attempts for the 2016 general election.

Polling has shown that a majority of Massachusetts voters support the Regulation and Taxation of Marijuana Act, though the campaign faces steep opposition in the form of anti-legalization adverts and a $1 million contribution towards the anti campaign by casino mogul Sheldon Adelson. Nevertheless, advocates have out-fundraised and have hopefully out-performed their opposition throughout the year.

Check back later for updates to this post as election results come in!

Update 11:54 pm EST – Question 4 has been declared successful, with 53 percent support and 47 percent opposed, making Massachusetts the first state to legalize recreational cannabis on the East Coast.

Update 9:41 pm EST – The Associated Press via Google Election Tracker shows Question 4 polling at 52 percent in favor and 48 percent opposed with 18 percent of precincts reporting.

Update 9:02 pm EST – The Associated Press via Google Election Tracker shows Question 4 polling at 50/50 with 5 percent of precincts reporting.

Question 4, “Regulation and Taxation of Marijuana Act”

Personal possession limits: 1 ounce of flower in public, 10 ounces at home, 5 grams of concentrates in public.

Taxes: 3.75 percent excise tax, plus state sales tax. Local government can add up to a 2 percent tax.

Fees: $3,000 retail, product manufacturer, cultivator, and testing application fee.

$15,000 for retail, cultivation, and product manufacturing licenses.

$10,000 for a testing license.

Revenue disbursement: Does not specify, will be determined by commission.

VIDEO: Overview of Cannabis Initiatives

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Nevada Marijuana Legalization Question 2 Results: Live Updates

11/08/2016

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Nevada will play host to yet another well-watched legalization vote in the West during the 2016 general election. With Oregon, Washington, Colorado, and now maybe California, Nevada is sure to be feeling worried it might miss out on the early green rush. If approved, the Initiative to Regulate and Tax Marijuana would legalize recreational cannabis for adults 21 and older. Recent polling data showed a very slight majority in support of the initiative, with 47% percent in favor and 43% opposed.

And — with Las Vegas being one of the most prevalent tourist destinations in the U.S. — the state’s cannabis tourism market is almost certain to explode if voters choose to embrace legalization.

Keep your eyes on this article as election results come in, as we will be following the vote closely and will provide informational updates along the way.

Update 10:25 pm PST – Question 2 has been approved by Nevada voters in a 54-46 split, according to media sources with the Associated Press and Politico.

Update 9:15 pm PST – It appears to be a close race for Question 2 in Nevada: with 29 percent of precincts reporting, the move to legalize is up 53 percent support to 37 percent opposed, according to Politico.

Question 2, “Initiative to Regulate and Tax Marijuana”

Personal possession limits: 1 ounce of flower, 3.5 grams of concentrates.

Taxes: 15 percent excise tax, plus state sales tax

Fees: $5,000 application fee for retail, cultivation, product manufacturing, distributor, and testing licenses.

Distributor and testing fees cannot exceed $15,000 for the initial license; $5,000 for renewal.

Retail fees cannot exceed $20,000 for the initial license; $6,000 for renewal.

Cultivation fees cannot exceed $30,000 for the initial license; $10,000 for renewal.

Product manufacturing fees cannot exceed $10,000 for the initial license; $3,300 for renewal.

Revenue disbursement: Revenues support K-12 education.

VIDEO: Overview of Cannabis Initiatives

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Oregon Local Cannabis Tax Measures Results: Live Updates

11/08/2016

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Dozens of Oregon communities are asking their voters tonight to approve a 3% retail cannabis sales tax, which would be added on top of the state’s mandatory tax on cannabis sales. The extra 3% tax would be earmarked for local government use.

Currently, Oregon cannabis sales are subject to a 25% state tax. Starting January 1, tax rates will drop to 17% or 20%, depending on whether or not local voters chose to embrace the extra 3% retail tax.

The state of Oregon collected more than $25.5 million in taxes during the first six months of 2016 and the marketplace is on track to meet state economists’ predictions.

Check back later for updates on the many Oregon localities voting on this issue tonight!

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LIVE UPDATES: Election 2016 Marijuana Legalization Initiatives

11/08/2016

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It’s been a wild ride in the build up to today’s 2016 general election. We are witnessing a historic number of states putting the question of cannabis reform before voters: five states are considering recreational legalization, and four more might join the ranks of states with medical marijuana programs. There is also an opportunity for Denver, Colorado to create a regulatory structure for social use clubs in the city, and countless votes in municipal districts throughout the country.

By tonight’s finish, we will know which states have succeeded and who must try again in later elections. Check back here for regular updates across all of the initiatives that are going in front of voters! We will be updating this piece throughout the evening and late into the night.

Below, you will find specific articles covering each of the major cannabis-related votes:

Oregon municipality votes regarding a 3% local tax on retail cannabis sales

VIDEO: Overview of Cannabis Initiatives

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A woman holds a bottle of prescription painkillers. Opiate addiction is a serious issue and has become a leading cause of death among addicts.

New Mexico Advisory Board Votes ‘Yes’ on Treating Opioid Addiction with MMJ

11/08/2016

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New Mexico’s Medical Advisory Board has voted 5-1 to add “opioid use disorder” to the list of conditions approved for access to the state’s medicinal cannabis program, according to a report by the Santa Fe New Mexican. The lone dissenting vote was cast by the Board’s chairman Dr. Mitch Simson, who said he was concerned about substituting one addiction for another.

The plan was supported by health professionals, addiction specialists, and lawmakers who attended the meeting of the Advisory Board last week. Board member Dr. Laura Brown, who works at the Santa Fe Addiction Center, told her colleagues that among her patients battling opiate addiction the ones “who are using cannabis are doing better than those who are not.”

Anita Briscoe, the nurse who proposed the measure to the board, indicated that about 25 percent of her patients addicted to opioids have told her that cannabis stems their craving and relieves their pain. Three of her colleagues who certify patients under the medical cannabis program estimated that they have seen roughly 400 patients use cannabis to help break their opioid addiction. Briscoe provided board members with 21 pages of research, including articles from the American Medical Associates, the American Journal of Public Health, and the American Journal of Addiction to back up her anecdotes.

“Just imagine if [addicts] had access to cannabis and were able to kick their habits, how our state would change for the better,” she said during her appearance in front of the board. “Crime would go down, health care costs would diminish, overdose deaths would fall, and it would help our economy to flourish. Without the familial crisis of opiate dependence, New Mexico’s children would also be safer, families would be more stable.”

State Sen. Gerald Ortiz y Pino, and Rep. Deborah Armstrong, both Democrats, also submitted letters backing the proposal.

During the meeting, the Advisory Board also voted to allow Alzheimer’s disease to the qualifying condition list, allow patients to be certified under the program via telemedicine — to help rural New Mexicans gain access to the program — and to raise the cap on the number of growers permitted under the program. They also tabled proposals that would add autism, attention deficit disorder, and attention deficit hyperactivity disorder.

State Health Secretary-designate Lynn Gallagher must sign off on any new qualifying conditions before they would be permitted for medical cannabis therapies.

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Denmark to Launch MMJ Trials in 2018

11/08/2016

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Denmark’s Health Ministry has announced they will launch a four-year trial, costing more than $3.2 million, to assess the possible use of medical cannabis for patients suffering from serious and chronic illnesses, such as spinal damage and multiple sclerosis, the Copenhagen Post reports. Officials plan for the trials to commence on Jan. 1, 2018.

“The goal of the trial is to establish a defensible framework for the implementation of medicinal cannabis in the public health sector so patients with certain treatment indications can be treated with medicinal cannabis prescribed by a doctor,” the agreement states. “Hereby, some of the patients who self-medicate using illegal products can have a legal alternative that can be used within a more secure environment.”

The proposal — which has the support from the Socialdemokratiet, Dansk Folkeparti, Liberal Alliance, Alternativet, Radikale, Socialistisk Folkeparti, along with the government leaders Venstre — is expected to be similar to the model used in the cannabis-friendly Netherlands, who legalized medicinal marijuana in 2003.

Germany, which borders Denmark to the south, has had limited access to medicinal cannabis since a court decision in 2005. In May, Health Minister Hermann Gröhe proposed a law that would legalize the drug for medicinal use in Germany, and allow it to be covered by health insurance.

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A young cannabis plant in an indoor cultivation environment.

Illinois MMJ Program Shows Promise in Year 1

11/08/2016

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In the first year of medicinal cannabis sales in Illinois, there have been no serious problems or complications with the program, and not a single patient registered with the program has had their driver license revoked for diverting the drug, the Chicago Tribune reports.

And while calls to the Illinois Poison Control Center for cannabis exposure are up — from 13 children last year to 21 this year and from zero to two adults — the number is dwarfed by the 74,000 calls annually to the center for mostly prescription drugs. Carol Des Lauriers, director of the Poison Control Center, said it was not clear whether the marijuana calls were related to medical cannabis, but indicated that all of the patients recovered.

Presently, the program has about 12,000 enrollees who have spent about $28 million. Illinois courts have ordered the Department of Health to add seven qualifying conditions, ranging from migraine headaches to intractable pain, which would allow for more patients to access the program; however, Attorney General Lisa Madigan is appealing those decisions.

“There’s a lot of room for improvement,” Dan Linn, Illinois NORML executive director, said in the report. “Obviously, we’d like to see more conditions added.”

Over the summer, Gov. Bruce Rauner extended the pilot program until mid-2020, and added post-traumatic stress disorder and terminal illness to the qualifying condition list.

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View of the statue on top of the Pennsylvania capitol building in Harrisburg.

Pennsylvania Supreme Court Revises Rules for Attorneys Allowing MMJ Industry Participation

11/08/2016

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The Pennsylvania Supreme Court has modified its Rules of Professional Conduct to allow attorneys to work with medical marijuana clients without fearing action from the state Disciplinary Board, according to the report by the Legal Intelligencer.

“We can relax,” Andrew Sacks of Sacks Weston Diamond, who pushed for the rule change, said in the report. “It’s a happy day for Pennsylvania lawyers.”

According to the new rules, attorneys “may counsel or assist a client regarding conduct expressly permitted by Pennsylvania law, provided that the lawyer counsels the client about the legal consequences, under other applicable law, of the client’s proposed course of conduct.”

However, as is the case in other states with legal cannabis programs, some risk remains for lawyers due to federal law.

“Us lawyers are still violating federal law,” Sacks said. “We’re aiding and abetting.”

William G. Roark, of Hamburg, Rubin, Maxwell & Lupin said that the rule changes make it “easier for every firm” to operate without a “fog of uncertainty,” but that medical marijuana laws and regulations are complex.

“What I hope doesn’t happen is that the amended rule is now going to be an invitation or incentive for people to get in over their head in this arena without being capable of doing everything this entails,” he said.

The decision from the court follows the draft rules for the program released last week by the state Health Department.

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Canadian Ag. Company Plans Acquisition of FL Greenhouse for Medical Cannabis Production

11/07/2016

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Arcturus Growthstar Technologies Inc. has signed a Letter of Intent to purchase a 10-acre greenhouse in Florida that is already zoned for medical marijuana cultivation, according to a press release from the Canadian firm. The greenhouse falls under Florida’s strict criteria for cannabis manufacturing, which require applicants to have been in business for 30 years and to have grown at least 400,000 plants by the time of their application.

The greenhouse purchased by Arcturus has been family operated since 1959 and currently grows ornamental plants. Over the last year the property has generated over $2,600,000, with earnings before taxes, depreciation, and amortization of more than $400,000, the release says. William Gildea, Arcturus CEO and Chairman, said the company would continue producing the ornamental plants using the company’s Controlled Environment Agriculture technology “until Amendment 2 allow for the property to be converted for growing cannabis.” Gildea estimates that the company can quadruple the current ornamental plant yields.

“With this acquisition, Arcturus is potentially positioned as one of the public sectors first movers into Florida’s cannabis market,” Gildea said in the release. “This acquisition is in the designated legal grow zone with close proximity to Orlando, which has a local population of almost 2.5 million and attracts over 62 million visitors annually, making it a prime location.”

According to the release, if Floridians pass Amendment 2, the medical marijuana customer base in Florida could exceed a customer base of 400,000.

Florida joins Montana, Arkansas and North Dakota in considering implementing or expanding their medical cannabis programs during tomorrow’s general election.

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A large cannabis cola on display in an indoor grow operation.

Israeli Cannabinoid Drug Maker Launches IPO, Eyes Nasdaq

11/07/2016

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Israel-based Therapix BioSciences is seeking to be listed on the Nasdaq and has filed a $12 million initial public offering to that end, according to a report from Fierce Biotech. The company is already listed on the Tel Aviv Stock Exchange and trades on the US over-the-counter market.

Therapix is developing drugs based on cannabinoids for the treatment of cognitive impairments such as Tourette syndrome and Alzheimer’s disease, with plans to kick off Phase I research on a THC tablet next year.

If approved, the firm would join London’s GW Pharmaceuticals and the U.S.-based Arena Pharmaceuticals and Zynerba Pharmaceuticals as drug makers with cannabis ties trading on the Nasdaq, the report indicates.

GW produces Sativex, approved for treatment of spasticity conditions, which is available in 15 countries, including the UK, Spain, Germany, and Italy. Epidiolex, a drug with potential as an epilepsy therapy, is in late-stage trials.

Arena currently only has one drug on the market, weight-loss medication Belviq. The company is currently trialing a cannabinoid receptor 2 agonist for pain treatment.

Zynerba raised $42 million last August in its IPO. The firm is developing two cannabis-related drugs – one a synthetic CBD and the other THC-based. The synthetic CBD product is currently in Phase 2 trials for patients with refractory epilepsy and patients with osteoarthritis of the knee. A phase I clinical trial for their THC drug is expected to begin in the first half of 2017.

Last month, cannabis-related real estate investor trust Innovative Industrial Properties Inc. filed to become a publicly traded company, which if approved would make it the first business directly associated with cannabis to be traded on the market. In May, Nasdaq denied the bid by cannabis social network MassRoots to have its shares listed and traded on the exchange.

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Furry companions (cat and dog) sleeping together in the dog's bed.

Creso Signs Deal with Pet Product Specialists to Develop and Distribute Cannabis Therapies for Pets

11/07/2016

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Creso Pharma has signed a deal with two European companies as part of a strategy to target the pet medical marijuana industry, the company announced in a press release. The agreement will see the Australian Stock Exchange-listed company work with A&H, a Dutch veterinary product manufacturer, and Grieving Holdings Netherland, a wholesaler, to develop products for pet owners and veterinarians.

Dr. Miri Halperin Wernli, Creso CEO and co-founder, said that many medical conditions, such as behavioral-based disorders, pain, arthritis, inflammation, metabolic conditions and allergies, afflicting pets are “poorly treated by current therapies.”

“With many people now choosing botanically derived hemp products over synthetic supplements for human ailments, it makes sense that we are developing these treatments for our pets as well,” she said in the release. “Just like in people, they can greatly improve the pet’s quality of life and reduce a lot of the symptoms.”

According to an August report from Mordor Intelligence, the veterinary healthcare market is expected to be worth $39.7 billion by 2021.

Creso’s products aim to supplement deficient and unbalanced endocannabinoids with the natural phyto-cannabinoids to help an animal’s body restore synergy and homeostasis with its endocannabinoid system, the release says.

The deal comes three weeks after the company’s debut on the ASX, and one week after the company signed its first commercial distribution deal in the Czech Republic with MEDI-IN.

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An Idaho state police car parked on the side of the street.

Idaho Mother Loses Custody of Children After Treating Daughter’s Seizures with Cannabis

11/07/2016

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A mother in Idaho has had her two children taken from her after she gave her 3-year-old. who suffers from seizures, a smoothie infused with a tablespoon of canna-butter, KTVB 7 reports. Idaho does not allow medical marijuana use.

Kelsey Osborne said that providing cannabis to her daughter for her seizures was her “last resort” but maintains that she did the right thing. The fits stopped 30 minutes after she provided the smoothie to her child.

“I’ve seen it for my own eyes with people out of state who have used it and it’s helped them or their children,” she said in the report.

Following the incident she took the child to a doctor, who called the state Department of Health and Welfare after the 3-year-old tested positive for cannabis. The state removed both of Osborne’s children from her home, put them under the care of their father, and charged the mother with misdemeanor injury of a child. She pleaded not guilty.

Tom Shanahan, public information manager for the Health and Welfare Department, said that cannabis and the drug used to treat epileptic seizures – which contain only CBD – are not interchangeable and that even in states with medicinal programs it’s “not legal” to give cannabis to children.

“[Marijuana] can cause brain development issues with a child, so we view that as unsafe or illegal,” Shanahan argued. “We want children to be in a safe place.”

He noted that while Idaho does not have a medicinal cannabis program, an FDA program in Boise uses CBD as an experimental treatment for 34 children suffering from severe epilepsy.

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The PenSimple is a new grinder product that automatically dispenses ground herb directly into your pipe, paper, or vaporizer.

PenSimple: New Grinder Technology for the Active Cannabis Consumer

11/04/2016

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More than three years ago, two entrepreneurs from Ohio set out to revolutionize the modern understanding of herb grinders. Now, with the release of their PenSimple product just around the corner, that long wait looks to be finally coming to a close.

The PenSimple grinder lives up to its name: it’s not significantly bigger than most vape pens, and it is very user friendly. The grinder section at the top of the PenSimple functions exactly as anyone who is familiar with conventional, manual grinders would expect — though the chamber is perhaps longer and narrower than most conventional grinders.

Where the PenSimple surpasses the specifications of other grinders, however, is in its electronic herb dispenser, which allows users to dispense as much or as little of the PenSimple’s contents into a bowl, rolling paper, or dry flower vaporizer. The herb dispenser mechanism holds a battery charge for as many as 100 uses and can be easily recharged with any micro USB cable. Finally, at a $70 price point, the PenSimple is still cheaper than many of today’s top grinder brands.

pensimpleparts — The PenSimple on display (disassembled and assembled views are both shown).

The idea for PenSimple was born from founder and CEO Brian Seckel’s unfortunate mishap one windy day at the frisbee golf course.

“I was outside, I had all of my remaining nugs packed full in my grinder, getting ready to … have a nice smoke,” Seckel said. “I unscrew the grinder, and as I’m unscrewing it kind of flips a little bit — the top comes off, the bottom goes crashing to the ground, and I lost all my herbs to the ground.”

That was the tipping point for Seckel, and instead of his planned afternoon of relaxation and television, he spent the rest of that day making plans to prevent such a spill from ever happening to him again. “I wanted some way that I could smoke while playing frisbee golf … that wasn’t just a one-hitter and dugout. I wanted to be able to take a bowl and go out and smoke it outside,” he said.

Seckel contacted his friend and longtime college roommate Jesse Gruber, and the two started to spend evenings working on designs and prototyping their product using a 3D printer in the public library. The pair spent more than two years honing their design like this. “We went through probably hundreds of different iterations in terms of just 3D printing different dispenser mechanisms,” Seckel said.

When they had a prototype that was nearly finished, Seckel and Gruber applied to and were accepted by CanopyBoulder, a cannabis startup accelerator in Boulder, Colorado.

The PenSimple team relocated to Boulder and in recent months has focused on ramping up production to meet the level of demand their new product has drummed up. According to Seckel, “We’ve seen a lot of success with preorders.”

Although Seckel expects to ship their first wave of products sometime in early December, the entrepreneurial journey behind PenSimple is far from over, as its creators have also announced plans for a line of accessories and attachments that will allow users to customize their grinders. These accessories are likely to include options for increased herb storage, new grind pieces to make your grind especially fine, and even a joint roller attachment that would allow you to insert nugs and dispense a fully-rolled joint.

However, such PenSimple attachments are unlikely to be available until sometime next year, as its creators are still in the planning and prototyping processes.

To learn more about or to pre-order your own PenSimple, visit GetPenSimple.com.

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The Stock Exchange Building in Montreal.

Golden Leaf Holdings Raises $9 Million in Debenture Offering

11/04/2016

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Cannabis oil and solution provider Golden Leaf Holdings has raised nearly $9 million during the third tranche of non-brokered private placement of convertible senior secured debentures, the company announced in a press release. As of Nov. 2, nearly $3 million in principle amounts of debentures were issued at a price per debenture of $743.70.

The debentures carry a holder’s option to convert into common shares at .22 cents per common share after they mature 18 months from the date of issuance and carry an interest rate of 10 percent annually.

The company plans on using the proceeds from the offering for working capital.

Golden Leaf retained AlphaNorth Asset Management as its financial advisor in connection with the offering. The deal with AlphaNorth will see the firm paid 8 percent of the gross proceeds from the offering.

The company is traded under the symbol GLH on the Canadian Stock Exchange and was approved as an over-the-counter stock in the U.S. on Nov. 1, under the symbol GLDFF. The company’s products are available in both medicinal and adult-use markets in Oregon.

Correction: This piece previously mentioned Lunchbox Alchemy and Dab Society Extracts among Golden Leaf’s partners, which was inaccurate. These companies are not affiliated with Golden Leaf Holdings in any way.

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Cannabis leaf under the glow of indoor LED grow lights.

University of Miami Researchers to Study CBD as Potential Concussion Therapy

11/04/2016

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Researchers at the University of Miami have launched a five-year study to evaluate the effectiveness of CBD as a treatment for traumatic brain injury, backed by a $16 million grant from Scythian Biosceiences.

The study will be part of The Miami Project to Cure Paralysis carried out by the Miller School of Medicine believe the compound could reduce post-injury cell inflammation, pain, headaches and post-concussions syndromes. The Center of Disease Control estimates that about two million children and teenagers are impacted by TBI, which contributes to about 30 percent of all injury deaths in the US. Since 2000, there have been about 345,000 diagnosed cases among U.S. Armed Forces members.

Dalton Dietrich, Ph.D, scientific director for The Miami Project and neurology surgery professor at the Miller School, said that the short and long-term effects of both TBI and concussion are “well documented but poorly understood.”

“We face a number of major obstacles, such as clinically relevant models that address the complex pathophysiology of circuit dysfunction and recovery mechanisms associated with TBI,” he said in a press release. “The testing of novel compounds, including this approach using the cannabinoid/NMDA antagonist combination, are needed to treat cognitive and emotional consequences of single and repetitive brain injuries.”

The study will be headed by Gillian Hotz Ph.D, research professor of neurological surgery and director of the KIDZ Neuroscience Center. As the Director of the Concussion Program at the University of Miami Health System Sports Medicine, Hotz helped develop a national concussion protocol.

“One thing has eluded us — a clinically proven medication to treat concussion. Whether or not this study leads to a pill that could treat concussion, this type of research will pave the way for UM and other researchers to better manage concussion,” she said in the release. “It’s a privilege to help lead this journey.”

Pre-clinical studies evaluating rodent models of TBI will begin in years one and two. Phase two will involve a small human pilot study and, if successful, a fully-powered clinical trial would commence over the next three years with FDA oversight.

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Cannabis Penny Stocks Seeing Gains as Election Day Draws Near

11/04/2016

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According to Viridian Capital Advisors’ Cannabis Stock Index, last week proved to be a successful one for publicly traded cannabis stocks. The report, outlined by Equities.com, showed that the “Touching the Plant” segment rose 33.4 percent, which outpaced the Ancillary Products and Services segment. The Cannabis Stock index outperformed the major stock market, according to the report, rising 22.8 percent for the week ending on Oct. 28.

“We attribute the rise in the Index, specifically following the end of the first half, to the anticipation of the new cannabis markets that may come online following the elections this November,” analysts wrote in the report.

Additionally, the Biotech/Pharma Sector rose 75.8 percent, and the Consulting Services sector gained 41 percent during the week.

Akin Oyedele, a Businesses Insider markets reporter, suggested that the cannabis industry’s penny stocks “are trading as of most states will say yes to legalization.”

In four days, five states will vote on legalizing cannabis for adult use, and four others will decide whether or not to implement or expand their medical cannabis programs.

The Viridian index tracks the performances of about 50 cannabis companies traded in the over-the-counter market. The companies tracked must meet certain basic characteristics, including market capitalization, trading volume and Securities and Exchange Commission filing requirements.

The Viridian Cannabis Stock Index has gained 182.3 percent in the year-to-date.

Editor’s note: If you’re not familiar with penny stocks, we encourage you to make sure you know what you’re getting into before you start investing. Watch out for pump-and-dump schemes and companies that are constantly making vague “announcements” without being able to show any actual progress, action, or clear direction forward.

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Oregon Health Authority Issues Alert for 3 More Strains

11/04/2016

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For the second time in a month, the Oregon Health Authority has issued an alert over tainted cannabis sold in state dispensaries, Salem-News reports. The alert affects the strains Pleeze, Dryzl, and Dutch Treat.

Strains of Pleeze and Dryzl sold at Stonies in North Bend and Green-Way Medicinal in Salem were found to have levels of the pesticide piperonyl butoxide above OHA regulations. The sales at Stonies occurred between Oct. 16 and Oct. 25 and affect about 250 customers. Sales of the tainted strains at Green-Way affect about 90 customers and occurred between Oct. 15 and Oct. 23.

The “action level” set by the OHA for piperonyl butoxide is 2 parts per million; the Pleeze strain tested at 15.39 ppm, while Dryzl tested for 16.24 ppm – both exceeding OHA levels by 8 times. The compound is classified as a synergist chemical, meaning that the chemicals enhance the pesticidal effects of other compounds but do not have an effect on their own.

The strain of Dutch Treat affected by the alert contained higher-than-permitted levels of spinosad and was sold between Oct. 15 and Oct. 26 at Flower of Lyfe in Eugene. The OHA action level for the compound is 0.2 ppm, and the affected strains were found to have 0.9 ppm. The compound is known to have low toxicity to people and other mammals.

Much like the last products subject to an OHA alert, it is suspected that the products were transferred even after failing test results by a licensed laboratory.

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Indoor cannabis growing facility in Washington state.

New Albuquerque Business to Serve NM’s Medical Cannabis Patients and Providers

11/03/2016

by Press Releases

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MountainTop Extracts recently became New Mexico’s first licensed indoor BHO/PHO solvent-based extraction plant in their new state-of-the-art production facility located in Albuquerque.

MountainTop spokesman, Jeremy McCollum, said the operation will be serving the burgeoning medical cannabis industry in New Mexico. McCollum stated, “Our focus is to produce and distribute safest and purest medicine for the patients in the NM Medical Cannabis Program.”

According to the NM Department of Health, MountainTop’s Class 1 Division 1 facility is the first of its kind in the state and is currently the only indoor, solvent-based extraction facility licensed and approved to process cannabis in New Mexico.

Cannabis extraction is a process of pulling the concentrated oils containing the active compounds like THC and CBD from the plant’s flowers and byproducts including leaves and trimmings. This concentrated oil can then be further processed to produce various forms of medicine.

MountainTop Extracts will be contracting their extraction and product manufacturing services for NM’s licensed non-profit producers. Because the safest method of production for medicines can be produced only in a clean and sterile environment such as MountainTop’s new facility, NM patients now can expect to receive medicine that meet the highest industry standards.

MountainTop Extracts built the facility with a focus on:

Supplying the highest quality medicine to patients
Providing a safe working environment for employees
Utilizing natural, repurposed or renewable resources during construction
Compliance with all safety rules, guidelines and regulations
Redundancy to provide backup in case of equipment failure

This new MountainTop facility exceeds current health and safety standards set by the State of New Mexico Department of Health and was built to the same high safety standards that are currently being implemented in the State of Colorado. The new lab features state-of-the-art extraction equipment that has garnered more extraction awards than any other equipment in the industry. MountainTop Extracts will operate with superior safety features like: gas monitoring alarms, a custom-engineered ventilation system and explosion-proof wiring and electrical components.

The owners of MountainTop recognized that processing medicine in an outdoor environment, in the wind and dust, is not conducive to manufacturing a quality product. In order to produce medicines that are free from potential contaminants, the equipment and the cannabis product must be stored and produced indoors within a medically sterile and hygienic indoor laboratory location. Currently, all other licensed BHO extractors in NM are making their products in outdoor production environments.

Owners of the new company are Albuquerque residents, Jeremy McCollum, Eric Merryman, and Jennifer Merryman. These three local entrepreneurs combined their passions for cannabis genetics, growing methods, extraction science into their new business. Their vision includes a commitment to social justice issues surrounding the medical cannabis community and growing their company in New Mexico, dedicated to ethical, socially progressive and environmentally conscious business practices.

According to McCollum, MountainTop Extracts has been designed as an entrepreneurial group dedicated to collaborating with other like-minded people who share their passion in order to produce the most effective and highest quality medicine for patients.

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Inside the Ohio State House's Senate chambers.

Ohio Releases Draft Rules for MMJ Cultivators

11/03/2016

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The Ohio Department of Commerce has released their draft rules for would-be cannabis cultivators for the state’s medical marijuana program. In all, 12 Level I licenses will be available and six Level II, but the fees associated with the licenses are steep.

The fee for Level I cultivators runs $180,000 and carries a $20,000 application fee. For Level II cultivators the license fee is $18,000, with a $2,000 application fee, according to the documents.

Level I licensees are permitted 15,000 square feet of space, and Level II cultivators are allowed up to 1,600 square feet. No more than two licenses are permitted to be issued “in any one designated territory,” the rules state. Additional licenses will be made available on Sept. 9, 2018.

Furthermore, the rules, outlined in a fact sheet, require that cultivators “demonstrate adequate capital to meet facility plans and operational needs,” with Level I cultivators seeding to show $500,000 in liquid assets; $50,000 for Level II. Growers must allow the Commerce Department to conduct facility inspections and they must pass an initial inspection and be ready to cultivate their plants within nine months of being issued a license. The rules require seed-to-sale tracking systems and product testing by a licensed laboratory.

The public comment period for the guidelines opened yesterday, and the department will seek the input of the Medical Marijuana Advisory Committee before the rules are enacted.

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Skyline picture of the city of Sydney in New South Wales, Australia.

New South Wales, Australia MMJ Clinical Trials Delayed

11/03/2016

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