Category Archives: News

Texas gov signs bill expanding new conditions for medical marijuana use

Texas gov signs bill expanding new conditions for medical marijuana use

Texas Gov. Greg Abbott on Friday signed into law House Bill 3703, a measure that increases the number of qualifying patient conditions for medical cannabis use, which likely could increase dispensary sales in the state’s limited MMJ program.

The measure adds multiple sclerosis, Parkinson’s disease, ALS, terminal cancer, autism and many kinds of seizure disorders to the state’s list of qualifying MMJ conditions, according to The Dallas Morning News.

For more details on the bill, click here.

Published at Fri, 14 Jun 2019 23:14:14 +0000

Michigan Picks Up Pace of Reviewing and Awarding Marijuana Business Licenses

Michigan Picks Up Pace of Reviewing and Awarding Marijuana Business Licenses

LANSING – Since the Michigan Medical Marijuana Licensing Board was abolished at the end of April, the Marijuana Regulatory Agency has dramatically picked up the pace of reviewing business applications.

In May, the first full month of taking over licensing responsibilities, the MRA reviewed, and either approved, denied or gave preliminary approval to 213 license applications. In contrast, the licensing board, which was abolished earlier this year by Gov. Gretchen Whitmer, was considering an average of 95 applications a month.

As the state’s legal marijuana market for adult recreational use starts later this year, quick and efficient licensing will ensure that the market succeeds and thrives, MRA director Andrew Brisbo said Thursday, after the first public meeting of the MRA. 

Read more

Published at Fri, 14 Jun 2019 14:41:00 +0000

OrganiGram Holdings Inc (NASDAQ:OGI) And Pax Era Strike A Brand Partnership Deal

OrganiGram Holdings Inc (NASDAQ:OGI) And Pax Era Strike A Brand Partnership Deal

Cannabis industry player OrganiGram Holdings Inc (NASDAQ:OGI) has announced that it secured
a deal with Pax Era as one of its four partners in the launch of its products
in Canada.

Pax Era is the premium brand that sells oil vaporizers made
by a major consumer tech firm called PAX Labs, Inc. On the other hand,
OrganiGram has established itself as a leader in the production of cannabis
products. The deal between the two firms means OrganiGram will be among the
four partners that will play a part in Pax’s launch in Canada.

Pax plans to venture into the Canadian market before the end
of the year pending the legalization of cannabis concentrates in the North
American country. Organigram is an ideal partner for Pax because they both have
similar product portfolios that focus on class-leading technology that has the
potential to refine the vaping experience for Canadians.

“Innovative partnerships with exceptional companies like PAX mean our own product offering grows and our customers have access to cutting-edge technology and cannabis experiences,” stated Greg Engel.

Pax wants to be at
the top of the game as far as cannabis-based vape products are concerned

The deal with Pax aligns with Organigram’s commitment
towards achieving leadership and growth through the help of innovative
technologies. OrganiGram will provide Pax pods made by Edison Cannabis Co. so
that they can be distributed by its provincial partners in the coastal region.
The entire sales and distribution process will be carried out in line with
extractable products legislation in Canada.

Organigram has been busy developing an impressive portfolio
of concentrate in preparation for Cannabis 2.0 vape pens as well as edibles
which are scheduled to launch later this year. Engel noted that his company’s
team has constantly been working on improving and producing products that will
please customers.

Canada is one of the fastest growing markets for cannabis
products courtesy of legalization efforts. This makes it an attractive market
for many companies that deal with the cannabis industry. Pax Era aims to secure
a steady market for its products in the country with OrganiGram’S help.

Published at Fri, 14 Jun 2019 12:01:05 +0000

5 Cannabis Stats Every Entrepreneur Should Know

5 Cannabis Stats Every Entrepreneur Should Know

eCann Media is proud to showcase our portfolio of investments and subsidiaries. We have completed numerous investments across multiple verticals and sectors in the cannabis industry. Requesting an invitation will enable the eCann team to consider your eligibility for investment as well help us to identify the opportunities that best fit your needs and investment objectives.

Published at Fri, 14 Jun 2019 13:30:00 +0000

Why Mood-Based Cannabis Products Are About to Blowup

Why Mood-Based Cannabis Products Are About to Blowup

eCann Media is proud to showcase our portfolio of investments and subsidiaries. We have completed numerous investments across multiple verticals and sectors in the cannabis industry. Requesting an invitation will enable the eCann team to consider your eligibility for investment as well help us to identify the opportunities that best fit your needs and investment objectives.

Published at Fri, 14 Jun 2019 18:00:00 +0000

Affiliate of Canadian firm Hexo wins Greek cannabis license

Affiliate of Canadian firm Hexo wins Greek cannabis license

An affiliate of Quebec-based cannabis producer Hexo has received a license allowing it to establish cultivation, processing and manufacturing facilities in Greece, the company announced Thursday.

Greece aims to compete with Denmark, Portugal and Malta as a hub to meet demand for medical cannabis in Europe.

The affiliate, Hexo Med, is planning to construct a greenhouse and other facilities on a 700,000-square-foot plot in Larissa, Greece.

Construction of a roughly 320,000-square-foot facility is expected to start in the fourth quarter, the company said.

Meanwhile, Hexo reported third-quarter 2019 financial results.

The company’s gross cannabis revenue declined in the quarter ending April to 15.9 million Canadian dollars ($11.9 million) from the previous quarter’s CA$16.1 million.

Hexo reported net revenue of CA$13 million for the quarter, which New York-based investment bank Jefferies said was below consensus estimates.

The Quebec company said it is on track to sell CA$400 million of marijuana products in the next fiscal year.

Hexo also said it plans to launch hemp-based products in eight American states next year.

The company trades as HEXO on the Toronto Stock Exchange and New York Stock Exchange.

Published at Thu, 13 Jun 2019 20:40:28 +0000

Marijuana Stocks Review

Marijuana Stocks Review

The marijuana industry has grown by leaps and bounds over the past year or so, primarily due to the legalization in Canada and in parts of the United States. The formation of the industry and the listing of stocks from many of the leading companies which have also made it possible for investors to put their money into a growing sector.

Some investors might prefer stocks which are on a strong streak of gains, while others might prefer a stock that are beaten down and could be primed for a surge soon. In such a situation, it is worthwhile to look at the stocks of two Canadian marijuana producers, Organigram Holdings (OGI) and CannTrust (CTST).

Organigram

Organigram may have been a bit late when it comes to listing on a United States stock exchange but the company has had an excellent run in the market once it did. One of the most compelling reasons behind Organigram’s is the company’s low production costs and at the end of the day, investors will always be attracted to a company that can maintain such margins. Additionally, it is also set to raise its production capacity extensively this year.

Organigram expects to produce 113,000 kilos of marijuana this year, up from 47,000 kilos a year on average over the past years. Moreover, it has also been able to ink supply agreements with 10 major provinces in Canada and has also created an international footprint through its partnership with Alpha in Germany. Organigram is also making ground to enter the cannabis edibles market in a big way next year.

CannTrust

On the other hand, CannTrust is a highly interesting company and has been one of the bigger players in the medical marijuana market in Canada. More importantly, the company has also delivered exceptional growth in terms of the number of patients it services. In Q1 2019, the company reported a 70% year on year rise in patient growth.

More importantly, CannTrust has inked supply agreements with 9 states in Canada and due to its partnership with National Access Cannabis, the company’s products will reach an even bigger base of patients in the near future. It has also projected that it is going to produce 50,000 kilos of product a year from the next quarter onwards and it will go up once the Niagara facility expansion is completed. Last but not least, the company has also forayed into international markets through partnerships in Australia and Denmark.

According to experts, Organigram has grown quite rapidly, while CannTrust’s market cap is far smaller and hence could provide a bigger upside in the foreseeable future.

Published at Thu, 13 Jun 2019 19:53:42 +0000

Experts at MJBizConNEXT highlight cannabis industry’s move toward more mainstream acceptance

Experts at MJBizConNEXT highlight cannabis industry’s move toward more mainstream acceptance

Anat Baron, CEO of Stashwall, delivers her keynote address to kick off MJBizConNEXT. (Photo by Niki Chanthavong)

While there is still a long way to go before cannabis becomes totally mainstream, we may be seeing the end of the Wild West for marijuana businesses.

This overarching theme permeated predictions for the industry Wednesday as MJBizConNEXT opened at the Ernest N. Morial Convention Center in New Orleans.

MJBizConNEXT and the inaugural Hemp Industry Daily Conference, running concurrently, are produced by Marijuana Business Daily.

The industry is growing – MJBizDaily is predicting the U.S. industry could hit $30 billion by 2023 – but marijuana companies will have to begin thinking about it in more traditional business terms to get their piece of the pie.

“This is becoming a normalized industry – and normalized forces are coming into play,” Chris Walsh, president of MJBizDaily, said during his general-session address, “10 Trends to Watch This Year and Beyond.”

The mainstreaming of cannabis

Scrappy, upstart marijuana firms still have a place in the industry, but companies are now finding themselves having to deal with business concerns associated with more traditional and established industries – such as managing growth and improving efficiencies to improve profitability.

At the same time, more mainstream businesses, particularly in the data and alcohol spaces, are dipping their toes into the market through strategic partnerships.

Look for these trends to grow as more states legalize cannabis and operations become professionalized.

And one of the biggest factors that may come into force over the next few years is branding.

“Even if you have the best product out there, you’re not going to be able to compete with those who have a better brand strategy than you,” Walsh said.

The further normalization of MJ businesses isn’t isolated to North America.

Acceptance and legalization of cannabis is happening around the globe.

The world map is starting to fill in as more countries make efforts toward legalization, and recent moves in East Asia, Europe and Africa make them worth watching.

By 2030, cannabis will be part of consumers’ daily lifestyles, according to Anat Baron, CEO of Stashwall and former executive at Mike’s Hard Lemonade, who delivered the keynote Wednesday.

The future is cannabis

If marijuana or hemp products are going to be sold in supermarkets, where and how will they be sold?

“Will it be an aisle, like gluten free at Whole Foods? Or will there be cannabis products on every aisle next to every product?” Baron asked attendees.

“Really, think about it not as something that is adjacent but as something that is mainstream and is a part of everything.”

And the time to start changing this thought process is now, she said, because it’s only a matter of time before the 800-pound gorillas pounce on this market with huge potential.

Jenel Stelton-Holtmeier may be reached at [email protected]

Published at Wed, 12 Jun 2019 21:23:49 +0000

Cannabis and The Opioid Crisis: Get the Real Facts

Cannabis and The Opioid Crisis: Get the Real Facts

  • New study sends wrong message to cannabis investors about major industry opportunity
  • How cannabis could make big impact on $29.4 billion U.S. opioids market
  • As a substitute for opioids, cannabis offers real hope to estimated 1.7 million opioid addicts and abusers 

The Opioid Crisis is a growing social tragedy. It is the product of Big Pharma greed, specifically one obsessively greedy niche of Big Pharma, but that story has already been told.

In both the United States and Canada, real hope has emerged that the legalization of “medical marijuana” (cannabis) can have a dramatic impact on reducing the scope of this Crisis. The hope is backed by science.

Patients using medical marijuana to control chronic pain reported a 64 percent reduction in their use of more traditional prescription pain medications known as opioids, a University of Michigan study finds. [emphasis mine]

Then there is an article published earlier this week in the mainstream media.

Legalizing medical cannabis reduces opioid overdose deaths? Not so fast, new study says

The [previous] 2014 study found that between 1999 and 2010, states with medical cannabis laws had a nearly 25% lower average rate of opioid overdose deaths than states without such laws…But when they expanded the time frame through 2017…States with medical marijuana laws had average rates of opioid overdose deaths that were nearly 23% higher than those without these laws.

This isn’t real science. Not even close. It’s more mainstream media Fake News on cannabis, like we have been used to seeing during a century of cannabis Prohibition. Sometimes, the more things change the more they stay the same.

Why isn’t this science? There are two ways to answer that. One way starts by looking at the real science on cannabis.

Cannabis (including the marijuana sub-species) is non-toxic and non-addictive. It is completely safe. Cannabinoids, the active ingredients in the cannabis plant, are produced naturally in the human body. Known as “endocannabinoids”, they play an important role in regulating and maintaining human health.

Cannabis is so safe that it is not “contra-indicated” with respect to any known pharmaceutical. This means it is safe to use in conjunction with other drugs – including opiates.

Now let’s apply logic to the science. In any jurisdiction that legalizes medical cannabis, this can only impact opioid users in three possible ways.

a) They can refrain from cannabis use entirely
b) They can consume cannabis along with opioids
c) They can consume cannabis instead of some/all of their opioid use

Those are the only possibilities. With (a) there can be no possible impact at all. If (b) opioid abusers consume cannabis with opioids, while this is obviously not optimal it won’t kill anyone – as noted above.

If, however, opioid abusers reduce their use of opioids in favor of medical cannabis, it must reduce the number of opioid-related deaths.

Given that medical cannabis can only help in addressing the Opioid Crisis, how do we reconcile the real science with the sensationalistic pseudo-science published by the mainstream media? This requires a little more sophistication.

According to Chelsea Shover, the author of this pseudo-science, “the evidence is telling is now” that legalizing medical marijuana does not help to reduce opioid deaths.

Evidence? Ms. Shover uses that word very loosely. The only data she cites to support her irrational conclusion is a simple correlation. In recent years, states with legalized marijuana reported more opioid deaths, not less – countering the state data that had previously been reported (in 2014) showing a reduction in opioid deaths.

It sounds impressive. Correlations are like that. Connecting two pieces of data together, but with zero evidence of causation (i.e. zero proof). Let’s put this into perspective.

Here is an example of another “correlation” to which all economics students are exposed in their studies. There is a strong correlation between economic booms and sunspot activity.

The joke among economists (who aren’t a particularly witty bunch) is that we are still trying to determine whether economic booms cause sunspots, or whether sunspots cause economic booms.

In short, simple correlations tell us nothing because they prove nothing. Does Ms. Shover offer any real scientific evidence to support her illogical conclusion? No.

What we have then is an anomaly: data that is strongly counterintuitive to both the science and the logic here. Typically, when legitimate scientists encounter such anomalous data, they seek to dig deeper to explain the anomaly.

Chelsea Shover does the opposite. Rather than making any attempt to explain the anomalous data, she simply asserts (without any other proof) that we should accept this anomaly as the new “rule” here – and simply ignore the real science.

This is typical of the anti-cannabis pseudo-science that we have seen concerning cannabis in years past. Someone who already has a negative bias towards cannabis attempts to “prove” that cannabis is in some way bad for us – with simplistic drivel that cannot withstand serious analytical scrutiny.

Let’s do what Ms. Shover didn’t do: look for ways to explain this anomalous data.

The Capitalist Explanation

The Opioid Crisis is directly derived from Big Pharma greed. So looking to greed to explain the anomalous data reported on cannabis and opioids is a good place to start.

When medical marijuana is legalized in a U.S. state, it becomes an immediate threat to the Opioid Pushers. Cannabis is relatively inexpensive. It is infinitely safer than opioids. And it is a substitute for opioid use as either a medicine or recreational drug.

What does any good capitalist do when threatened by the loss of market share as a competing product is introduced? Slash prices. Undercut the competition and reclaim the market share.

What happens if the Opioid Pushers cut prices? Opioid addicts get more opioids per dollar. More opioids per dollar = more dead addicts. Anomaly explained.

That didn’t take long. Can we come up with other plausible ways to explain the irrational anomaly. Yes.

Related to “the capitalist explanation” is a parallel means by which the Opioid Pushers can consolidate market share in the face of competition from medical cannabis. They can leave prices unchanged but increase the potency of the opiates and opioid-laced drugs that they are pushing.

Increasing the potency of these killer-drugs gets addicts higher. It increases the addictive choke-hold of the opioids because of that increased potency – making it harder to move away from opioids to cannabis.

It also means more opioids per dollar. It would also lead to more dead addicts.

In five minutes (and with little difficulty) we can produce two plausible explanations that completely refute the anti-cannabis pseudo-science produced by the mainstream media. Others can undoubtedly produce other plausible explanations. All we have left is some anomalous (and alarming) data.

Can we learn anything from this? Yes.

Such data indicates that all levels of governments need to work even harder on law enforcement aimed at the Pushers. It also means that state and local health agencies need to be even more aggressive in seeking to substitute medical cannabis for opioids.

Medical cannabis can only help in alleviating the Opioid Crisis. When we see data emerging of increasing opioid deaths, this means we need more medical cannabis not less.

That is the real message here for investors.

Published at Wed, 12 Jun 2019 23:01:23 +0000

Zynerba Pharmaceuticals Is Back In Action

Zynerba Pharmaceuticals Is Back In Action

Pennsylvania based Zynerba Pharmaceuticals (ZYNE) had a major boost on Tuesday after its synthetic CBD product meant for the treatment of autism spectrum disorders received a patent.

Patent News

There is no doubt that it is a significant development for the company as the stock surged by as much as 16.50% to close at $13.50 on Tuesday. For a biotechnology company like Zynerba, a patent of this sort is quite important, since at the end of the day CBD oils are easily available to consumers. Now that they have the patent, it will be easier for the company to ensure that none of its competitors are able to come up with a similar product.

Zynerba has been on a good run for quite some time and there have been talks of positive developments in the company. In addition to its latest patent, the firm also received a United States patent for synthetic CBD product that is used for the treatment of Fragile X Syndrome. The two patents definitely give Zynerba the company the intellectual property rights clout that all businesses crave for and hence, the movement in the stock did not come as a big surprise to many.

Analysts Views

Back in April, the company’s stock had been upgraded by Roth Capital on the back of the prospects of its lead candidate Zygel, which is a CBD gel. Following the upgrade from Roth Capital, Zygel was awarded fast track status by the United States Food and Drug Administration.

Going forward, the company’s biggest task will be to conduct clinical tests of Zygel and eventually bring in to the market. Zynerba has already started enrolling patients for the second phase of the clinical study and it is believed that the data from the tests will be published in 2020. Moreover, the FDA is looking to limit the number of companies engaged in biotech CBD product and if that happens, then it could only prove to be beneficial for Zynerba, since it will shrink the competition considerably.

ZYNE’s stock is one of the biggest cannabis stock gainers with a jump of 260% so far in 2019. The stock made a new 52-week high of $16.47 in mid-May.

Published at Wed, 12 Jun 2019 20:07:59 +0000