VRTRADER CANNABIS VICE LETTER FOR MONDAY, JULY 17, 2017
India Globalization Capital (IGC) is engaged in the development of cannabis-based combination therapies to treat Alzheimer’s, pain, nausea, eating disorders, several end points of Parkinson’s, and epilepsy in humans, dogs and cats. In support of this effort, IGC has assembled a portfolio of patent filings and four lead product candidates addressing these conditions. The company is based in Bethesda, Maryland’
California Treasurer on Cannabis Banking: “There May Be Some Magic in Our Efforts”
In December, 2016, California State Treasurer John Chiang created a cannabis banking working group of members who hail from business and government – Lori Ajax, chief of the Bureau of Medical Cannabis Regulation; David Haithcock, executive director of the California Community Banking Network; Courtney Jensen, California and Nevada Credit Union League and 13 others – that just wrapped up their fifth meeting since their first meeting on December 19th in Sacramento.
A sixth meeting is planned in August in Los Angeles.
The topic? Banking in general, and California’s increasingly important role as one of the largest states to have legalized both medical and recreational cannabis, and the first state with perhaps the right catalyst for getting the federal government to act.
At the most recent meeting, on July 7 in San Diego, in his opening remarks, Chiang said that “there may be some magic in our efforts” because of California’s size, a comment that was echoed by some of the 11 stakeholders testifying before the group.
According to John Hudak, deputy director of the Center for Effective Public Management at the Brookings Institution, testifying in a panel alongside Aaron Smith, executive director of the National Cannabis Industry Association (NCIA) and U.S. Congressman Dana Rohrabacher (R-CA), the biggest question of federalism of our time is how cannabis is legal and illegal at the same time. “This question of federalism touches on a whole host of areas, and banking is one of them,” he said.
Hudak added that the stakeholders in the room were not the people that the working group is trying to achieve access to banking for. “This is a public health and public safety issue,” he said. “This is as much about business operating effectively and efficiently as much as it is making sure that this industry can be tracked and traced and kept honest, and can be regulated efficiently, so that the individual knows exactly what product they are getting and where it came from, and that the tax money they hand to that dispensary ends up in the treasury where it belongs.”
He said that California has the opportunity to be a thought leader in the banking issue, echoing another point the treasurer made in his opening remarks. “The state truly does, because the problem with banking is no different here than it is in Colorado or Washington or the medical states across the country,” Hudak said. “What California does is have the opportunity to use scale as a means to demonstrate policy benefits and policy realities and policy possibilities.”
Smith said that the political climate has changed dramatically in the last seven years. “On the banking issues specifically, there are very few outspoken politicians saying that cannabis should have banking, but we are not seeing any vocal opposition to banking,” he said. “It looks like we now have majority support on both sides of aisle to fix the problem, but the general dysfunction now is the challenge that we are facing.”
He said that he hopes for constituents in the state to lean on Senator Dianne Feinstein (D-CA) to take the lead “not for cannabis but for public safety.”
“This is a public safety issue and we should see coalition of law enforcement, regulators, and tax collectors get behind this,” Smith said.
Hudak added that California needed to get its own house in order. “There are difficulties at the local level and difficulties at the state level,” he said. “So the first step is figuring out how to get everyone on the same page in order to show the federal government that we can do this right. They are not going be welcoming or warm up to a halfway approach. But if you can show a full system from the smallest local municipality up to the way in which the state does business that other states follow, that is going to be the example that prompts the federal government to make a move.”
Filed Under: California, Policy & Legal
David Hodes is the managing editor of CBE Press LLC. based in the greater Washington DC metropolitan area. He is the former editor of seven different business magazines, and has contributed feature articles to several business/lifestyle publications and national cannabis magazines. Hodes is also a former field producer for CBS News, NBC, NFL Network, ESPN and other media outlets; worked as a news promotions producer for two network affiliates; and was the morning news editor for a third network affiliate. He is member of the National Press Club, and deputy booking agent for the National Press Club Headliners Committee.
CANNA HEALTHCARE MAGAZINE
You Can Scream for Cannabis Ice Cream in Colorado on National Ice Cream Day
Summer is hot and ice cream is cool, but cannabis ice cream is even cooler. With National Ice Cream Day on July 16, 2017, cannabis consumers in Colorado have three options: get high and eat ice cream; make cannabis-infused ice cream or go to a dispensary and buy cannabis ice cream.
Getting high and eating ice cream is probably on the to-do list of cannabis consumers across the country; some may even go the extra mile by smoking a cannabis-themed strain, like Cookies and Cream or Birthday Cake Kush, and then pairing it with a Ben & Jerry’s flavor that sounds cannabis-friendly, like Half Baked or Phish Food. If you want to keep it simple, hit up a dispensary and then swing into one of the places giving out free ice cream on July 16.
If you feel like experimenting in the kitchen, bypass the common option and try your hand at making homemade cannabis ice cream. While it’ll definitely take time, ingredients and plenty of patience, it sounds like a satisfying experience to make ice cream with the strain and flavor of one’s choosing. Check out these recipes for mint chocolate chip and vegan banana ice cream to give you some ideas.
Getting high and eating ice cream sounds pretty fantastic, as does attempting to make homemade cannabis ice cream, but adults in Colorado can celebrate National Ice Cream Day with a unique option—going to a dispensary and buying cannabis ice cream.
While cannabis ice cream isn’t a common item in the Colorado market, Alpine Essentials manufactures and distributes Blue Dream Ice Cream, a product created by Mike Elliott that currently comes in strawberry swirl, bourbon vanilla and chocolate chocolate chip.
Cannabis ice cream could seem like an odd market segment, but American consumption habits shine a light on its promise.
“American’s eat an average of 48 pints of ice cream per year and collectively we consume 1.58 billion gallons of ice cream per year. Figures like these confirmed that making [cannabis]ice cream had potential,” Elliott explained to Marijuana Industry News. “Also, the THC infusion and release is excellent in ice cream due to the high dairy fat content.”
In a market where infused chocolates and candies are ubiquitous, cannabis ice cream is unique. According to Elliott, “Ice cream has some advantages in that it can be a complimentary item to brownies, cookies, sodas, etc.”
Coloradans can find Blue Dream Ice Cream at Emerald Fields in Manitou and Glendale, Nature’s Best in Glendale, Three Rivers Dispensary in Pueblo, Rocky Mountain Organics in Central City and Green Heart in Aurora. And if you can’t make it to any of those locations before National Ice Cream Day, Blue Dream Ice Cream has plans to expand to dispensaries in Georgetown and Denver next week.
Delaware Medical Marijuana Program Eases Requirements for PTSD Patients
Delaware, Governor, Helene Keeley, John Carney, legislation, Margaret Rose Henry, medical, Patients, Paul Baumbach, Press Release, PTSD, Qualifying Condition, SB 24, State
Delaware Medical Marijuana Program Eases Requirements for PTSD Patients
The Delaware medical marijuana program is making safe access easier for those who suffer from post-traumatic stress disorder. On July 13, 2017, Delaware Gov. John Carney signed Senate Bill 24, removing the original law’s requirement that PTSD patients be authorized specifically by a psychiatrist; now, PTSD patients can be authorized by a physician like the other patients enrolling in the Delaware medical marijuana program.
“This is a common sense, and compassionate amendment to Delaware’s medical marijuana law that will expand access to treatment for Delaware veterans and others who live every day with the effects of post-traumatic stress disorder,” Carney said in a press release. “Thank you to Senator Henry, Representative Baumbach, Representative Keeley, and all members of the General Assembly for their leadership on this issue.”
While SB 24 didn’t retain the addition of panic disorder, general anxiety, social anxiety or obsessive-compulsive disorder to the state’s list of qualifying conditions, removing the unnecessary barrier for PTSD patients is still a welcome step forward.
“We want to help our veterans. This is a fairness issue,” Henry said, as reported by WDEL. “They’ve given so much to us to protect us. This is the least we can do to help them.”
Friday Night Inc Releases Progress Update on Infused MFG
VANCOUVER, British Columbia, July 14, 2017 /Weed Wire/ — Friday Night Inc ($TGIF) is pleased to provide an update on our 91% owned asset, Las Vegas-based Infused MFG, LLC (Infused). Infused grossed over $30,000 USD of sales in June, which is twice the initial projected amount of $15,000 USD.
*Infused moved into a new, 5,000 sq. ft. production and fulfillment center on May 1st of 2017
*Infused’s “CannaHemp” line, found at www.CannaHemp.com was launched on June 1st, 2017
*Operations in the month of June grossed over $30,000 USD in local sales
*Additional employees were added in July to meet the increase in production and sales
*Focused on fulfilling the local appetite with targeted e-commerce and online marketing
Infused moved into a state of the art 5000 sq. ft. facility and has since launched an e-commerce site that has generated over $6,000 USD in 30 days. Infused has also generated an additional $24,000 USD in sales over the last month in local Las Vegas retail stores.
Today, Infused is launching an all-new line of CBD Dab products. These products are THC free, CBD extracts made with real cannabis terpenes formulated from AMA’s popular Tangerine Dream and Diamond OG strains. Infused’s out-of-the-gate success, coupled with the recent record sales at Alternative Medicine Association, further re-enforces the quality of our two core assets in Las Vegas, Nevada. The Company looks forward to providing further updates as it progresses.
Mrs. Morgan Rebentisch, General Manager of Infused commented, “We’re so excited about the success of our CannaHemp product line. We are humbled by the daily feedback from our customers on how our products have improved their quality of life. These individual success stories are the fuel that is driving our brand forward.”
About Friday Night Inc.
Friday Night Inc. is a Canadian public company which owns and controls both hemp and cannabis based operations in Nevada with plans to expand both within and outside of the state. Through its recently-acquired 91% subsidiaries, Alternative Medicine Association, LC, and Infused MFG LLC, the Company owns and operates a licensed medical and adult use cannabis cultivation and production facility in Las Vegas, Nevada and produces its own line of cannabis-based extracts including shatter, live resin, wax and oils including vape oils, flavored vape oils, terpene enhanced oils, and clear distillates and manufactures other third-party brands of similar products.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements in respect to assumptions of market demand, market share, potential real estate acquisitions and future business opportunities. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com. The Company disclaims any obligation to update forward looking information contained herein, except to the extent required by law.
Uruguay, First Country in the World to Legally Regulate Marijuana, Begins Retail Sales Next Week
Thi coming week, Uruguay will begin sales of legal marijuana for adult residents. The marijuana legalization proposal was put forward by former President José Mujica in 2012 as part of a comprehensive package aimed at improving public safety. Uruguay’s parliament gave final approval to the measure in December 2013, making theirs the first country in the world to legally regulate the production, distribution and sale of marijuana for adults.
“This is a historic moment,” says Hannah Hetzer, Senior International Policy Manager at the Drug Policy Alliance. “In recent years, Latin American leaders have decried the staggering human, environmental and financial costs of the War on Drugs in their region. Uruguay is boldly demonstrating that concrete alternatives to failed prohibitionist policies are possible.”
In 2013, a broad coalition emerged to support the proposal, which included LGBT, women’s rights, health, student, environmental and human rights organizations, alongside trade unions, doctors, musicians, lawyers, athletes, writers, actors and academics, united under the campaign Regulación Responsable (“Responsible Regulation”).
The Uruguayan model allows four forms of access to marijuana: medical marijuana through the Ministry of Public Health; domestic cultivation of up to six plants per household; membership clubs where up to 45 members can collectively produce up to 99 plants; and licensed sale in pharmacies to adult residents. Regulation will be overseen by the government’s Institute for the Regulation and Control of Cannabis (IRCCA). Sales to minors, driving under the influence of marijuana, and all forms of advertising are prohibited.
“Uruguay’s model will look quite different from the eight U.S. states that have legalized marijuana,” Hetzer continued. “There is no one-size-fits-all marijuana legalization system. It’s important for each jurisdiction to tailor marijuana regulation to their local needs and contexts, providing the world with different models to learn from.”
Since the bill was passed in 2013, the government has been developing regulations, registering domestic cultivators and membership clubs, and preparing for the implementation of licensed sales in pharmacies. Two companies have received licenses to produce the marijuana sold in pharmacies, which will be available next week at $1.30 per gram. Each registered individual will be allowed to buy up to 40 grams a month.
Implementing licensed sales in pharmacies took longer than anticipated, due to a presidential election in 2015, a delay in funding for the IRCCA, and the government’s commitment to moving forward cautiously.
Marijuana reform gained remarkable momentum throughout the hemisphere in recent years. Twenty-nine U.S. states have legalized medical marijuana, while eight states and Washington D.C. have legalized marijuana more broadly. Jamaica decriminalized marijuana for medical, scientific and religious purposes; Colombia and Puerto Rico legalized medical marijuana through executive orders; Chile allows for marijuana cultivation for oncology patients; Mexico recently passed a medical marijuana bill a year after their Supreme Court ruled that prohibition of marijuana for personal consumption is unconstitutional; and Canada is set to become the next country to fully legalize marijuana.
U.S. company focusing on legal marijuana market in Mexico, expected to reach $5B USD
Raul Elizalde, a lawyer who along with his wife Mayela Benavides won the first authorization for the medical use of cannabis, was appointed president of HempMeds Mexico, a subsidiary company of Medical Marijuana Inc., dedicated to the manufacture of marijuana pharmaceuticals, reports “El Universal”.
Elizalde will be at the head of a company that seeks to introduce medical cannabis in the Mexico, estimated to reach in a few years from USD$2 thousand to USD$5 billion.
The company is focused on bringing the benefits of medical use of the plant to patients of neurodegenerative diseases, diabetic neuropathy, pain, and diabetes, among others, and even for cosmetic purposes.
During its first stage, HempMeds will focus on marketing the more than 100 products that Medical Marijuana produces in San Diego, California, as well as research and developmentof new medicines in Mexico.
Stuart Titus, President of Medical Marijuana Inc, said that plans to open a subsidiary in Mexico started in 2016 when they began to deal with Raul Elizalde, and now it is a reality after the authorization of the medicinal use of cannabis, approved by the Lower Chamber on April 28.
The American company was founded in 2009, becoming the first company of its kind listed on the stock exchange and that standardizes concentrations of active ingredients in cannabis products.
Elizalde commented that “it is a privilege to be the person who will lead one of the largest companies in the world in the medical cannabis market, as this oil has changed the lives of my family, my daughter Grace and hundreds of patients.”
From February 2016 to the same month of 2017, the company obtained 256 approvals so that Mexican patients could purchase the oil. In addition, it has supported the scientific investigations of recognized neuro pediatricians in the country, where more than 80% of patients have shown improvement in the frequency of epileptic seizures after the use of cannabis derivatives.
A new study has found that 97 percent of patients suffering from chronic pain decrease their opioid medication when using cannabis.
And that’s great news for patients who struggle with opioid and non-opiate pain killer addiction, with thousands of people now choosing medical cannabis as a natural alternative.
A new study, carried out by Hello MD, published in the Journal of Pain Research, surveyed 3,000 patients suffering with chronic pain, and reached some amazing conclusions. The study, which looked at both opioid and non-opioid-based patients, found that a staggering 97 percent of those questioned ‘agreed or strongly agreed’ that they could decrease their pharma medication when using cannabis. At the same time, 92 percent “strongly agreed/agreed” they preferred cannabis over opioids to treat their condition.
Legal cannabis is used by thousands of pain sufferers on a daily basis, in treating symptoms of chronic pain, nausea, appetite stimulation for cancer sufferers, as well as a whole host of other medical conditions.
It has been noted by many that the current untenable situation, whereby doctors prescribe strong opiate-based medications to treat pain, cannot continue for much longer. With statistics showing thousands of Americans dying annually from opioid addiction and often accidental overdoses.
In 2016 alone, a variety of patients in the U.S. spent over $10 billion on opioid medications. That gives big pharma a dilemma as legal cannabis could shave off an estimated $4.5 billion, from their bottom line. Hence the reason that pharmaceutical companies are now waking up to the realities of medical cannabis, and have started conducting their own research in controlled lab studies.
The new study, entitled, ‘Cannabis as a Substitute for Opioid-Based Pain Medication: Patient Self-Report,’ set out to look at the effects of opioid addiction and overdoses on American patients. The study’s introduction noted that,
“PRESCRIPTION DRUG OVERDOSES ARE THE LEADING CAUSE OF ACCIDENTAL DEATH IN THE UNITED STATES. ALTERNATIVES TO OPIOIDS FOR THE TREATMENT OF PAIN ARE NECESSARY TO ADDRESS THIS ISSUE. CANNABIS CAN BE AN EFFECTIVE TREATMENT FOR PAIN, GREATLY REDUCES THE CHANCE OF DEPENDENCE, AND ELIMINATES THE RISK OF FATAL OVERDOSE.”
While the study is substantial in content, its conclusion is a simple one: “Future research should track clinical outcomes where cannabis is offered as a viable substitute for pain treatment and examine the outcomes of using cannabis as a medication assisted treatment for opioid dependence.”
It is hoped by many that more similar research will be carried out before long, in order to try and get some kind of control over the disastrous opioid epidemic sweeping America today.
NY Gov. Signs Hemp Expansions into Law; State Earmarks $10M for Industry Investments
During a ceremony at Cornell University, New York Gov. Andrew Cuomo signed an expanded hemp bill into law, categorizing the crop as an agricultural commodity, giving it the same protections as any other crop grown in the state, the Ithaca Journal reports. The measure will permit industrial hemp research and hemp companies access to the state’s economic development arm.
During the bill signing, Cuomo said he believed that “hemp production has tremendous economic advantages for whatever state is the first to really grow that market” and he was eager for the New York “to be the first to grow that market.”
“One of our main focuses is to continue to grow the economy, drive the economy and create jobs; and one of the main economic engines of this state is agriculture, and we want to be at the cutting edge of agricultural development for the economy,” the Democratic governor said.
At a press conference following the signing, Agriculture and Markets Commissioner Richard Ball announced that the state will invest $10 million into the new industry, earmarking half for research and half for processing and commercialization. Ball indicated that the state is importing 53,000 pounds of industrial hemp, which will cover 1,700 acres of land. State officials hope to have 20,000 acres of hemp growing in the state by 2022.
The bill creates a hemp seed certification program to ensure the products are compliant under the 2014 Federal Farm Bill – which defines hemp plants as containing 0.3 percent THC – and to ensure intellectual property rights are protected.
What To Know When Investing In Marijuana Stocks
Legal Marijuana is the fastest growing industry in the United States. In 2016, cannabis sales in North America went up 30% from 2015 to reach $6.7 billion.
And looking into the future with more states, Canada and countries around the world making their way toward legalization this already extraordinary speed of growth is actually set to pick up. Canada’s recent decision to legalize recreational cannabis by next summer is expected to create a $23 billion industry that could be bigger than beer and wine.
Investors are clamoring for marijuana stocks. Marijuana stocks in the United States have been among the most heavily traded securities this year.
Yet, while I do see great opportunity, investing in cannabis stocks also creates new challenges. At the top, there are more than 300 cannabis stocks to choose from. It’s difficult to separate winners from losers.
From there, buying, selling, and owning marijuana stocks is very different than investing in blue-chips such as Apple, and Amazon.
Here’s a look at 7 fundamental tips that will help you understand the basics to invest in marijuana stocks
Marijuana Stocks And What You Need To Know
1. Focus On The Largest Companies In The Sector
The cannabis sector is loaded with micro- and nano-caps. These are companies with market capitalizations of less than $250 million and $50 million, respectively. On one hand, these young companies offer tremendous growth potential. But on the other hand, they are prone to bouts of extreme volatility. That volatility can be driven by unexpected fluctuations in sales and earnings growth. It’s also just a lot easier for big traders with billions to push around a $50 million stock. Focusing on the biggest companies in the cannabis sector helps moderate both issues.
2. Go International
Some of the best opportunities in cannabis are happening outside the United States. For example, Canada is set to legalize recreational cannabis by next summer. Israel has legalized medical cannabis and is moving toward legalizing recreational. Australia voted to legalize medical marijuana in the fall of 2016. Local companies listed on these countries’ stock exchanges are scrambling to cash in.
It’s going to be difficult to separate winners from losers in the young cannabis industry. Some of these companies will grow into global leaders while others will fail and file for bankruptcy. This is the reason I recommend diversification. Owning a basket of marijuana stocks means that if one goes bust, your portfolio will survive.
4. Core Versus Peripheral Holdings
Within a diversified portfolio, it’s a good idea to weight your holdings differently. Larger cannabis stocks should have a higher allocation while smaller, more speculative cannabis stocks should have a smaller allocation.
5. Focus On The Long Run
The cannabis sector is prone to extreme bouts of volatility. For example, in early 2014, the entire sector rallied more than 200%. But for the next 18 months, the cannabis sector fell into a nasty bear market where some stocks fell more than 50%. You can’t worry about this volatility too much and let it distract you from the big picture. The real opportunities in cannabis will unfold over the long run.
6. Don’t Sweat Valuation
Expectations for cannabis stocks are running high. Investors are very excited about this opportunity. That exuberance is on display in these companies’ valuations. Some of the most popular cannabis stocks have valuations that look absurd compared to the S&P 500. You’ll hear some voices bashing these valuations an unsustainable. While there is some merit to that, don’t let this criticism prevent you from seeing the big picture opportunity.
7. Use Limit Orders
Buying cannabis stocks can be a lot different than buying a blue-chip such like Amazon. Spreads in cannabis stocks can be much wider than blue-chips because of their smaller market caps and lower daily trading volumes. When buying or selling cannabis stocks, I recommend always using limit orders. This will help you avoid price slippage on your entry prices.
Flower Price Declines Vary Between States
In the states with the longest track record of recreational sales of flower — Colorado, Washington and Oregon — the average price for a gram of flower declines every year.
But the rate of decline among states is not identical.
The decline for flower prices has been the most dramatic in Washington.
Consider Washington. When the Evergreen State launched recreational cannabis in July of 2014, flower sold for an average of $22.41 per gram. The following month, the price rose to $24.45, but by December of that year it had declined to $17.44 per gram, according to data from BDS Analytics, one of the premiere sources of cannabis data in the world.
Prices continued to dip across 2015 and 2016. For 2017 through March, the price per gram in Washington State had positively plummeted — down to $5.95 a gram. That is a hefty drop from the high of $24.45 — no other state comes close to the rate of decline, or the prices Washington consumers paid for pot when the state kicked-off recreational sales.
Declines in Colorado flower prices have been steady and incremental
If Washington State’s angle of descent was like a double black-diamond ski trail, Colorado’s has been decidedly green. Since Washington State supports only a recreational channel for sales, we will examine only recreational sales prices in Colorado, and ditto for Oregon when we study that state’s sales. Prices in medical channels are usually lower than recreational channels, and if we look at combined channels in Colorado and Oregon the medical channel will draw down the average. For this piece, we want to compare apples with apples.
The average 2014 price in Colorado for recreational cannabis was $9.28. In 2015, Centennial State consumers on average paid $8.69, and in 2016 prices nudged down to $7.72. Through April of 2017, the average price for a gram of flower was $6.89.
As of May of 2017, Oregon had the most expensive flower in the country among recreational states.
The descent of Oregon’s recreational flower market is similar to Colorado’s — it, too, is a green trail — but tickets are pricier in the Beaver State.
Oregon rolled-out recreational sales of cannabis in October of 2015, but let’s begin with 2016, the first full year during which Oregonians could purchase flower in recreational dispensaries. Last year, flower in recreational channels sold for $9.55 in January, and by the end of the year prices had not changed much — they inched down just two cents, to $9.53, for the year-long average. Through May of this year, prices have declined to $8.92, with an average price of $8.85 in May.
Washington’s double-black-diamond experience with cannabis prices may have been a fun ride, while it lasted. But it’s likely to be over. With a per-gram price of $5.57 during the first three months of 2017, there isn’t much more room to drop.
ABcann Global Announces Listing on the OTCQB Marketplace and the Frankfurt Stock Exchange
ABcann Global Announces Listing on the OTCQB Marketplace and the Frankfurt Stock Exchange
OTTAWA, July 12, 2017 (GLOBE NEWSWIRE) — ABcann Global Corporation (TSX-V:ABCN) (“ABcann” or the “Company”) is pleased to announce that its common shares have been approved for trading on the OTCQB Marketplace (the “OTCQB”) under the symbol “ABCCF” and on the Frankfurt Stock Exchange (the “FSE”) under the symbol “23Q”. The Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “ABCN”.
The Company expects to benefit from being listed on the OTCQB and the FSE by gaining greater visibility and convenience of trading the Company’s common shares to US and European investors, allowing a much larger potential shareholder base and enhanced liquidity.
About ABcann Global Corporation (TSX-V:ABCN):
ABcann was one of the first companies to obtain a production license under the Marijuana for Medical Purposes Regulations, which it received on March 21, 2014. It obtained a sales license on December 31, 2015. ABcann’s flagship facility, in Napanee, Ontario, contains proprietary plant-growing technology, including environmentally-controlled chambers capable of monitoring and regulating all variables in the growing process. This approach and the systems in place allow ABcann to produce organically grown and pesticide-free, high-yielding plants, which, in turn, can generate high-quality products that are consistent from batch to batch. ABcann is able to control environmental and nutrient demands, tailor-made for a particular strain of cannabis, without the variation that is typical when producing large quantities in less-controlled, larger rooms and greenhouse-type structures. ABcann’s modular approach to systems technology eliminates scale-up risk and allows ABcann to locate anywhere in the world and maintain consistency and quality of product.
ABcann is expanding capacity in its current facility to approximately 30,000 sq ft and concurrently undertaking expansion into a new 150,000 sq ft facility in Napanee. ABcann is pursuing opportunities in Germany, Australia and other jurisdictions as well as exploring the development of multiple delivery vehicles.
Institutional Capital & Cannabis Conference
September 7 – September 8
Fontainebleau Miami Beach
4441 Collins Avenue
Miami Beach, FL 33140 United States
After a sold-out inaugural event in California, the most authoritative investor forum in the cannabis industry is making its East Coast debut September 7 and 8 in Miami Beach, Florida.
The first Institutional Capital & Cannabis Conference, or IC3, attracted 400 investors and industry leaders to Silicon Valley where they gained critical insights into the fastest growing industry in North America.
MedMen, an industry leading cannabis management and investment firm, and IMN, a premier finance and investment conference organizer, have joined their expertise to bring a one-of-kind forum aimed at sophisticated investors seeking alternative asset classes and portfolio diversification. This event was created specifically with the needs of the institutional and accredited investor in mind.
The East Coast edition of IC3 will take place at the Fontainebleau Miami Beach. The program will provide an in-depth look into the emerging cannabis industry and show attendees how to evaluate investment returns in legal cannabis versus alternative investments.
Confirmed speakers include:
Neil Closner, CEO, MedReleaf
Chris Leavy, Chairman, MedMen (ex: BlackRock, Oppenheimer, Morgan Stanley)
Adam Bierman, CEO, MedMen
Rob Kampia, Executive Director, Marijuana Policy Project
Vivien Azer, Managing Director, Cowen & Co.
Scot Crow, Practice Manager, Dickinson Wright
Ariel Imas, Managing Director, J Streicher Capital
Judge John Delaney, Texas Senior District Judge
David McConico, Senior Advisor, First Florida Securities
Josh Gross, President, Mill Creek Capital Advisors
Eric Stevens, Deputy Executive Director, Florida For Care
Aaron Smith, Executive Director, National Cannabis Industry Association
Robert Roman, CEO, MGO Wealth Management
Paul Woods, CEO, First Florida Pharmaceuticals
Jason Adler, Director, The Cronos Group
Chris Ganan, Chief Strategy Officer, MedMen
Marijuana Stocks Could Face Some Trouble With This New Information
A new decision by a major bank could present trouble in the near future marijuana stocks.
PNC Financial Services (NYSE: PNC) is shutting down its bank accounts for one of the largest advocacy groups for cannabis legalization. The group, appropriately named ‘The Marijuana Policy Project’ (MPP), was informed by a PNC representative that the bank felt it was “too risky” to do business with the organization.
Could the result of this decision by PNC executives affect the marijuana industry? Yes, and it could potentially deflate marijuana stocks in the process.
A representative from PNC confirmed that it would shut down MPP’s account but refused to comment on the details of the situation. PNC did, however, state that “as a federally regulated financial institution. PNC complies with all applicable federal laws and regulations.”
The representative from PNC referred to federal laws such as the Bank Secrecy Act which was enacted in 1970 requiring financial institutions to monitor customers’ accounts for various forms of potential criminal activity. If the company is suspected to be engaging in criminal activity, banks are prohibited from doing business with that company.
Although MPP does not touch the physical marijuana plant, an audit of the organization by PNC showed that MPP received some funding from businesses that are in the physical marijuana industry. This does not necessarily mean that these companies are committing crimes, but rather the fine line between federal and state legislation means that it remains risky for anyone involved. PNC took this information and decided that it would no longer do business with MPP although the organization had been a customer of the bank since its founding in 1995.
The result of this could lead to a domino effect in the industry. If one major bank decides to take an action like this, it could only trigger other banks to follow suit. This could lead small businesses involved in marijuana to only deal with cash in order to survive which is a dangerous and inconvenient system for all. In short, this new budding industry deserves recognition by the financial industry. If the government chooses to tax these companies as they do, it is only fair that they receive bank accounts and treatment as though they are any other business.
New Research Shows Cannabis Inhibits Growth of Cancerous Tumors
A new study from St. George’s University of London, recently published in the International Journal of Oncology, shows that cannabinoids may be able to help bolster chemotherapy treatment by aiding in the reduction of tumor growth. The study was conducted on cancer cells in a lab and looked at the effect of different cannabinoids on tumor growth in cells. Cannabinoids, when used in association with chemotherapy, were able to help kill and reduce growth of leukemia cells.
Cannabis After Chemotherapy
The study found that when chemotherapy was administered before the cannabinoids, the cannabinoids were far more effective than when they were administered before chemotherapy. The cancer cells were more effectively limited in growth when cannabinoids were used, rather than with chemotherapy alone. Dr. Wai Liu, the lead researcher on the study, stated, “We have shown for the first time that the order in which cannabinoids and chemotherapy are used is crucial in determining the overall effectiveness of this treatment.” The researchers also made clear that the effects of the study could not be replicated with smoked cannabis, because smoking whole plant cannabis is different than the highly concentrated extracts used in this study.
This study provides increasing evidence to show that cannabis may have a large potential to help fight cancerous tumor growth. Many different organizations have been conducting studies and trials, including GW Pharmaceuticals, a UK based company that has become known for producing cannabis derived prescription medications. GW recently conducted a clinical trial to see how cannabinoids would effect patients with cancer.
Limits Cancer Growth
Their clinical trial](http://www.telegraph.co.uk/business/2017/02/07/gw-pharmaceuticals-develop-oncology-portfolio-cannabis-medication/) used a drug that contained both CBD and THC, in association with chemotherapy. The study showed that cannabis could help limit growth of cancer cells. The CEO of GW Pharmaceuticals, Justin Gover, stated that, “We believe that the signals of efficacy demonstrated in this study further reinforce the potential role of cannabinoids in the field of oncology.”
This new study, and the earlier one from GW Pharmaceuticals, show the potential efficacy of using cannabis to fight against cancer cell growth. There have also been other studies, particularly in rats and mice, which have shown that that cannabinoids may be able to inhibit tumor growth, particularly by blocking the development of blood vessels that aid in their growth.
Cannabis is also well known for its ability to be effective at helping reduce many symptoms of cancer. Cannabis can help cancer patients with insomnia, lack of appetite, and pain. These studies begin to show the potential for cannabis to help patients control their cancer, potentially beyond just symptom control. More studies are needed to test just how beneficial cannabis could be for patients, but the prospects are very promising. The increasing evidence indicates that cannabis may become a crucial part of a holistic cancer treatment because of its ability to improve quality of life and bolster chemotherapy treatment results.
If you are new to cannabis and want to learn more, take a look at our Cannabis 101 post. HelloMD can help you get your medical marijuana recommendation; it’s 100% online, private and efficient.
PharmaCannis: The Future of Cannabis in New York
Finally! Good news for New York cannabis patients. Access to critical cannabis therapies is increasing before our eyes due to an expanding list of qualifying conditions and new medical dispensaries opening up across the state.
PharmaCannis, a New York and Illinois-based dispensary group, is a shining example of the eastern US cannabis scene, complete with state-of-the-art production facilities, professionals from the pharmaceutical industry, and an eye towards making cannabis a part of the future of healthcare. With eight dispensaries and three cultivation centers across New York and Illinois, PharmaCannis is fast taking the lead in showing the world how cannabinoid-based therapies are a part of healthcare.
Cannabis in the Eastern United States
State-specific regulations have a major impact on the direction of cannabis companies and their offerings. The license application process in eastern states is intense; licenses are few and far between. In 2015, PharmaCannis received one of only five licenses awarded in New York State.
One of the major differences in the eastern market is the requirement for vertical integration. Each medical cannabis provider has each stage of the business from seed to sale. This includes the cannabis grow and processing facilities, and the dispensaries, that are instrumental in the treatment of patients. Because Pharmacannis has built its business within the stricter regulations of the eastern United States, the company’s approach promises a clean, safe, and medicinal environment.
Working to sign up patients and doctors is the next major step for the cannabis industry. Just last week, HelloMD launched in New York, providing a brand new channel for New Yorkers to obtain a medical marijuana recommendation from a physician or other qualified healthcare practitioner. New York’s list of qualifying conditions recently expanded to include chronic pain, which can increase the number of potential patients. PTSD will potentially be added next, continuing to drive growth in the market.
Educating and Treating Patients
One remaining challenge is educating physicians and patients who are not aware of how cannabinoid-based therapies may be used in the healing process. PharmaCannis tackles this problem by offering education for both patients and doctors while providing the highest quality care. Patients have access to guidelines on how to use medical cannabis, while physicians are offered a “Clinical Cannabinoid Medicine Curriculum,” and continuing education courses.
The interior of a PharmaCannis dispensary.
Each PharmaCannis dispensary in New York is managed by a licensed pharmacist, and all Patient Care Representatives go through a rigorous two-day training when hired.
“We distinguish ourselves on a personal, one-to-one healthcare consultation model, where a patient has the ability, if desired, to spend time individually and privately with a pharmacist or patient care representative at the dispensary,” says Jeremy Unruh, General Counsel of PharmaCannis.
New patients might expect the opportunity to have an extended 30-45 minute consultation on a first visit. Medical cannabis products resemble a prescription one might receive at a pharmacy or physician’s office. “Our patients benefit from quality-control tested, accurately labeled products in tamper-evident, child-resistant packaging. These are the consumer protections that PharmaCannis patients are able to take for granted,” says Unruh. Follow-up outreach and compassion care are the final steps of the process, to ensure patients get what they need and help them stay educated on what is available.
“The driving goal at PharmaCannis is to be the national leader in driving medical marijuana to take its place, whatever that may be, in healthcare” says CEO Teddy Scott. PharmaCannis brings together experts from the medical, pharmaceutical, and cannabis fields into its facilities, blending the art and science of growing cannabis with the precise manufacturing processes of the pharmaceutical world.
Among the senior staff are cultivation manager Brendon Hershey, who used to work for DuPont Pioneer, a major national agricultural products producer seed producer, and Louis Mejias, a Big Pharma scientist who is responsible for PharmaCannis’ extraction process. “I transitioned my career into medical cannabis because I believe in the science. It’s a natural product made from a natural process in a highly secure and regulated way,” Mejias is on record telling the New York Post.
PharmaCannis cultivates their own plants.
At present, New York’s medical cannabis program only allows medical cannabis to be administered in the form of a tincture, oil, or pill. PharmaCannis currently offers tinctures and vape cartridges, with plans to introduce tablets and capsules soon. Consistent dosage is a key issue across all of medical cannabis, and PharmaCannis ensures this with a tightly-controlled extraction process that mirrors a pharmaceutical lab.
PharmaCannis has over 250,000 square feet of processing and production space.
“We honor the culture that has come before us in the cannabis world, but we also recognize that it takes an additional level of sophistication to provide consistent patient outcomes,” says Unruh. According to the New York Post: “The entire facility runs like a lab operated by scientists like Mejias who have decades of experience in the pharmaceutical industry.”
Pharmacannis has over 250,000 square feet of processing and production space. The magnitude of the production capacity, advanced technology used, and level of professionalism show a side of cannabis that many have never seen.
Giving tours of the production facility is Unruh’s favorite part of the job because “Nobody, and I mean nobody, leaves a PharmaCannis cultivation and processing center thinking the same way about the cannabis industry as when they entered.”
PharmaCannis labs are similar to those within a pharmaceutical company.
Currently, Pharmacannis has major capacity moving forward: “We can easily handle all the patients in New York state right now and for the foreseeable future,” says Unruh. Pharmacannis appears to be well on their way to reaching their goal of being a leader of medical cannabis in healthcare, and ready to face any challenges that lie ahead. Unruh looks towards the future,“We’ve come a long way, but we’re just getting started.”
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