MjLink Cannabis Business News and Press

As 2019 came to a close—a year defined, in many ways, by a sharp rise in cannabis research interest—a report from a team of Italian researchers in the journal Nature on the first-ever isolation of two newly named natural cannabinoids: Δ9-tetrahydrocannabiphorol (THCP) and cannabidiphorol (CBDP). 

Rhode Island lawmakers have rewritten a medical cannabis bill that awarded themselves the power to veto medical cannabis regulations, and that in turn caused Gov. Gina Raimondo to sue the legislature.

In the state’s budget last year, lawmakers authorized six additional medical cannabis dispensaries (called “compassion centers”) in the state but mandated that all new cannabis regulations be approved by the General Assembly. Raimondo objected to the latter provision.

New legislation was introduced Jan. 8, according to a local NBC 10 News report. Under the revised bill, the six new compassion centers will not be confined to six separate geographical zones as originally planned, and will have no limit on the amount of cannabis they can grow—and lawmakers no longer have the right to veto regulations.

The governor’s lawsuit has not yet been dropped, but will likely be declared moot by the court, NBC 10 News reported.

Alabama Attorney General Steve Marshall voiced his opposition to medical cannabis legalization this week in a Jan. 6 letter to lawmakers, according to an AP News report.

Marshall’s letter called cannabis an addictive substance and drew parallels with the ongoing opioid crisis, the news outlet reported, and also noted federal prohibition.

During last year’s legislative session, an Alabama House committee turned a medical cannabis legalization proposal into a bill to establish a commission to develop legislation and regulations for medical cannabis in the state. The legislation ultimately passed the legislature, and the Alabama Medical Cannabis Study Commission started work on a medical cannabis legalization bill to present to the legislature early this year.

Alabama’s 2020 legislative session begins next month.

TEL AVIV, Israel and BETHESDA, Maryland, Jan. 9, 2020 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a leader in personalized cannabinoid medicine focused on cancer and its side effects, announced today that in a pre-clinical study held at the company's High Throughput Screening (HTS) lab facilities in Israel, preliminary findings show that the cannabinoid Cannabigerol (CBG) was shown to have a greater anti-tumor effect on human stomach and bone cancer cell lines compared to CBGA, the acidic form of the compound. 

CBG is a non-psychoactive cannabinoid found in minute quantities in the raw cannabis plant. Also known as the "mother" cannabinoid, other cannabinoids such as THC, CBD, CBN and CBC are synthesized from CBG. It is anecdotally known to show promise in having anti-inflammatory qualities and may act as an antibacterial agent.

In the current experiment, the HTS platform was utilized to screen the necrotic effects of both CBG & CBGA on various types of cancer cell lines. Interestingly, CBG was found to induce necrotic effects while CBGA had no such effect. 

These findings further support previous research performed by the company, which has consistently shown differential anti-tumor effects when using a variety of cannabinoids on human cancer cells, derived from both fresh biopsies and cell lines.

These preliminary findings could allow Cannabics Pharmaceuticals to offer in the future, pending further research, a more extensive and thorough personalized report for patients advising them on cannabinoid medicine therapy protocols in order to maximize positive outcomes. 

Dr. Yaakov Waksman, the company's Head of Cannabidiol Research, said: "CBG is gaining a lot of interest as of late by the scientific community due to its potential therapeutic properties. The recent preliminary findings from our research team illustrate how purified cannabinoids can potentially yield anti-tumor activity and enable us to examine the entourage effect of botanical extracts versus the purified compounds. We are excited by these preliminary findings and plan to perform additional experiments in the near future to further support them."  

TORONTO, Jan. 9, 2020 /CNW/ - PRESS RELEASE - The Green Organic Dutchman Holdings Ltd., a producer of premium certified organic cannabis, has announced changes to streamline its leadership structure.

The company's president, Csaba Reider, will be departing the organization. Reider's duties will be assumed by the company's CEO, Brian Athaide.

Mike Gibbons, Vice President of Sales, is also leaving the organization. Robert Gora, Vice President of Medical Commercialization, will assume the consolidated role of Vice President, National Sales, leading sales and revenue generation across medical and recreational channels.

"The changes we announce today are part of a comprehensive review of our operations to reduce costs and improve cash flow. This will result in significant G&A savings and a leaner, more efficient organization. We are also very focused on ramping up production, expanding our product portfolio with innovative organic products and gaining market share across the country," commented Athaide.

The opportunity to legalize medical cannabis in Mississippi will be presented to voters in November.

Mississippians for Compassionate Care submitted roughly 106,000 signatures in September to place an initiative on the ballot. Only 86,000 were required.

The secretary of state’s office certified the signatures as Ballot Initiative 65, according to a Clarion Ledger report, and the initiative was formally filed with the state legislature Jan. 7.

If passed, the ballot measure would allow doctors to prescribe cannabis for certain medical conditions, including cancer, epilepsy, Parkinson’s disease and multiple sclerosis, the Clarion Ledger reported. The Mississippi Department of Health would be responsible for regulating and overseeing the program.

Iowa’s 2020 legislative session is set to kick off next week, and lawmakers are again considering legislation that would lift the state’s 3% THC limit on medical cannabis products.

The legislature passed similar legislation last year that would have replaced the THC limit with a rule that patients could purchase 25 grams of THC over 90 days, but the bill conflicted with recommendations from the Iowa Medical Cannabidiol Advisory Board, according to The Courier, and Gov. Kim Reynolds ultimately vetoed it.

Wendy Zadeh, a neurologist from Des Moines, even resigned from the board upon the bill’s passage in the House, The Courier reported.

Reynolds has indicated that she supported the other provisions included in last year's legislation, which incorporated recommendations from the board that a pharmacist be on staff at the state’s five licensed dispensaries, and that physician assistants and nurse practitioners should be allowed to recommend patients for the program, according to the news outlet.

In its latest report to lawmakers, the board recommended replacing the 3% THC cap with a limit of 4.5 grams of THC over 90 days, The Courier reported, although the purchase limit would not apply to the terminally ill and could be increased by the certifying health care professional.

Tennessee Sen. Janice Bowling (R-Tullahoma) has reintroduced a bill this legislative session that would legalize medical cannabis in the state.

The legislation would allow qualified patients to access medical cannabis, and would establish a licensing process for businesses to grow, distribute, transport and sell cannabis for both medical use and scientific research, according to a local WKRN report.

“There are tens of thousands or hundreds of thousands of Tennesseans that could benefit from medical cannabis,” Bowling told the news outlet. “This is desperately needed in Tennessee, it is desperately needed by the patient, and doctors need an alternative from opioids.”

Bowling will hold a meeting Jan. 9 to allow law enforcement to weigh in on medical cannabis legalization, WKRN reported.

Bowling introduced similar legislation last year, but the bill ultimately stalled in the legislature.

The New Hampshire House passed a pair of bills Jan. 8 that would expand the state’s medical cannabis program and increase patient access.

Lawmakers voted to add insomnia and opioid use disorder to New Hampshire’s list of qualifying conditions, according to an AP News report.

Patients seeking medical cannabis as a treatment for opioid use disorder would face additional restrictions under the legislation, the news outlet reported, including a requirement that certifying medical professionals have specialized knowledge in addiction treatment.

Earlier iterations of the legislation included the addition of Lyme disease, but that provision was later removed, AP News reported.

The New Hampshire Senate voted against a more expansive bill Jan. 8 that would have made medical cannabis available for any condition that a medical provider determined could be helped by the substance, according to the news outlet.

FSD Pharma, a Toronto-based biotech pharmaceutical R&D company, garnered a Nasdaq uplisting this winter and began trading on the U.S. market Jan. 9. With that, the company joined 11 other Canadian cannabis businesses that now trade on either the Nasdaq or the New York Stock Exchange (NYSE).

Here’s the list, as of January 2020:

Innovative Industrial Properties: December 2016, NYSE

Cronos Group: February 2018, Nasdaq

Canopy Growth Corp.: May 2018, NYSE

Tilray: July 2018, Nasdaq

FSD Pharma begins trading on the NASDAQ Jan. 9 in a move that CEO Dr. Raza Bokhari calls a strategic advantage for the Toronto-based biotech pharmaceutical R&D company.

The stock will trade under the symbol “HUGE,” and the listing places FSD Pharma in a group of 12 Canadian cannabis companies that have commenced trading on the NYSE or NASDAQ.

This milestone also makes FSD Pharma the first company in the history of the Canadian Securities Exchange (CSE) to be dual listed on a major U.S. exchange.

“To list on the immediate exchange is important,” Bokhari told Cannabis Business Times. “That is how you become the company that has more ability. The United States exchanges are the most active and where the most amount of capital changes hands. So, you want to be in the big ocean.”

The company’s shares will continue to be listed on the CSE under the symbol “HUGE.”

The Illinois Department of Agriculture (IDOA) has released the applications for Cannabis Infuser, Transporter and Craft Grower licenses, and will begin accepting completed applications Feb. 14, according to a local WGEM report.

There is a $5,000 non-refundable application fee for all licenses, the news outlet reported, and the companies ultimately awarded licenses will have an annual licensing fee of $5,000 for an Infuser, $10,000 for a Transporter and $40,000 for a Craft Grower.

This round of licensing also includes social equity applicants, the news outlet reported. Those who qualify under the state’s social equity program will receive additional points on their applications and are eligible for technical assistance, grants and low-interest loans, as well as fee reductions and waivers.

IDOA will partner with the Illinois Department of Commerce and Economic Opportunity to host informational workshops across the state to assist applicants, WGEM reported.

All Cannabis Infuser, Transporter and Craft Grower license applications must be submitted to IDOA by 5 p.m. CST on March 16. IDOA can issue up to 40 Craft Grower and 40 Infuser licenses in 2020, according to WGEM, as well as an unlimited number of Transporter licenses.

Florida Rep. Shevrin Jones (D-West Park) is backing legislation that would reduce criminal penalties for the possession of certain amounts of cannabis and make first-time minor offenders eligible for civil citations or diversion programs, according to WFTS, a local ABC News affiliate.

Under current law, the possession of 20 grams or less of cannabis is a first-degree misdemeanor, the news outlet reported, but many Florida cities and counties have granted law enforcement the option to issue a civil citation for the possession of 20 grams or less.

Jones aims to create a more uniform approach with his bill.

“We have a chance to be consistent with what counties and cities are doing to ensure that we are doing everything we can to unclog our criminal justice system,” Jones told WFTS.

State lawmakers reconvene Jan. 14 to kick off the 2020 legislative session.

Heading in to the first day of adult-use cannabis sales in Illinois Jan. 1, the team at Illinois Supply & Provisions estimated that they would have five to 10 times more customers than a typical day at their two dispensaries, which were founded under the previous state medical program four years ago.  

The crowd was even larger than anticipated, as nearly 3,000 eager consumers from places as far as Kentucky, Oregon and Florida stood in line starting before sunrise and past sunset on Jan. 1, some waiting as long as five hours, says Kim Kiefer, chief retail officer for Ascend Wellness Holdings. Ascend, the parent company of Illinois Supply & Provisions, also operates retail and production facilities in Ohio, Massachusetts and New Jersey.

“You have to be overprepared because you really don’t know what’s going to happen. We knew that there were going to be long lines, so we did everything we could to entertain folks. We had food trucks, we had a DJ, we handed out coffee and we had hand warmers,” Kiefer says, adding that 30-degree temperatures did not deter the enthusiastic patrons. “That first day, thee customers were absolutely amazing and had a great attitude. I just think everybody wanted to be part of the moment.”

Kiefer was on site at the Collinsville location, 15 miles outside of St. Louis, and met with customers who were anywhere from 21 to 80 years old. 

“It felt historic. What surprised me about the day is how amazing the customers were and how excited they were about … the end of prohibition,” she says. “Some people waited in line for five hours just to buy one item, but they just wanted to be a part of it.”   

Other dispensaries reported similar traffic — statewide, more than 77,000 transactions resulted in nearly $3.2 million in sales, according to the Illinois Department of Financial and Professional Regulation. At the end of day 2, Illinois Supply & Provisions reported 5,200 customers total at the Collinsville facility and their second location in Springfield.

CLEVELAND, OH/LAS VEGAS, NV – (January 7, 2020) – Cannabis Conference 2020 presented by Cannabis Business Times, Cannabis Dispensary, and Hemp Grower, announced today that actor and celebrity cannabis business owner Jim Belushi will keynote this year’s conference program. The three-day event will be held at the Paris Hotel and Casino in Las Vegas, Nev., April 21-23, 2020.

Belushi, known for his numerous film, television and musical performances, including the popular sitcom “According to Jim,” will share his experiences as the owner and operator of the ninety-three acre Belushi’s Farm, which he which he began developing in 2015 under the Oregon Medical Marijuana Program (OMMP). 

“Every time I cultivate the land, I get pulled more and more into the medicine and the joy of this work,” says Belushi. “My experience has truly changed me as a man, and I’m looking forward to sharing what I have learned from my amazing journey with this year’s Cannabis Conference attendees.”  

“We are thrilled to have Jim Belushi keynote our Cannabis Conference 2020,” says Noelle Skodzinski, editorial director for Cannabis Conference, and Cannabis Business Times, Cannabis Dispensary and Hemp Grower magazines. “His passion for the plant, as well as for the health and economic potential it holds for society is aligned with so many of our attendees and with our mission. Our audience of plant-touching-business owners and operators will surely benefit from his experiences growing cannabis in the Oregon market, his plans and hopes for the future, as well as his wisdom and humor.”

The Cannabis Conference 2020 is expected to draw over 3,000 attendees from 40 countries worldwide and bring together dozens of the industry’s leading voices to address the biggest opportunities and challenges facing the legal cannabis market.

Among this year’s speakers include respected industry leaders and experts: Dan Sutton, CEO/founder, Tantalus Labs; Sjoerd Broeks, genetic development/R&D director, THE PHARM; David Bernard-Perron, VP of growing operations, The Green Organic Dutchman (TGOD); Dr. Janna Beckerman, professor and extension plant pathologist, Purdue University; Dr. Brian Whipker, professor of Floriculture, North Carolina State University; Scottie Gordon, vice president of licensing & regulatory affairs, Curaleaf, Inc.; Anna Shreeve, president of Urban Paragon Inc., Targeted Intent Inc., and The Bakeréé; Priscilla Vilchis, CEO/CMO, Premium Produce; Andrew R. Graves, chairman, Atalo Holdings Inc.; and Claudio Miranda, Co-Founder, Guild Enterprises. A full list of this year’s confirmed speakers and presenters can be found here: https://www.cannabisconference.com/speakers.  

TORONTO, Jan. 6, 2020 /CNW/ - PRESS RELEASE - SLANG Worldwide Inc., a cannabis consumer packaged goods company with a portfolio of brands distributed in over 2,600 stores across the United States, has announced that it is expanding into the Ohio medical cannabis market by the entering into of a licensing agreement with Standard Wellness Company, LLC.

Pursuant to the licensing agreement, Standard Wellness has been granted an exclusive license to produce and distribute the SLANG product suite in Ohio, beginning with its O.penVAPE, Pressies, Bakked and District Edibles brands. SLANG will derive revenue for each branded product sold in the state, with sales expected to commence in 2020.

"We strive to create brand awareness early and establish relationships with consumers in attractive, new cannabis markets," said SLANG CEO Peter Miller. "Our discipline around capital efficiency makes partnerships like this very strategic in achieving our near and long-term goals for brand awareness, while giving our partners a competitive advantage and a running start in their markets."

Standard Wellness was Ohio's first vertically integrated licensed cannabis producer. Its cultivation and processing facility is located in Gibsonburg, Ohio, and it currently distributes products to every medical cannabis dispensary in the state.

"Our strategy is to partner with leading brands to bring the finest quality cannabis products to patients in Ohio and empower them to lead healthy and rewarding lives," said Standard Wellness CEO Jared Maloof. "Our agreement with SLANG will enable us to diversify our product portfolio with recognized brands and help fuel our continued growth."

TORONTO--(BUSINESS WIRE)--PRESS RELEASE--FSD Pharma Inc. has announced that its Class B Subordinate Voting Shares have been approved for listing on the NASDAQ Capital Market under the symbol ‘HUGE.’ Trading on the NASDAQ is expected to commence at market open on Thursday, Jan. 9, 2020.

The company’s shares will continue to be listed on the Canadian Securities Exchange under the symbol ‘HUGE.’

“As we announce this much anticipated and coveted milestone, I want to congratulate the FSD Pharma team, our stakeholders and, most importantly, our shareholders. I also want to extend my gratitude to the members of the Board of Directors of FSD Pharma, and especially to the founders of the company, for their vision and for giving me an opportunity to lead the FSD Pharma team to achieve this strategic advantage. It is exciting to realize that once we begin trading on NASDAQ, we will be included in a select group of 12 Canadian-domiciled cannabis companies trading on either the NYSE or NASDAQ, and the first company in the history of the Canadian Securities Exchange (CSE) to be dual-listed on a major U.S. exchange," stated Raza Bokhari, MD, Executive Co-Chairman and CEO.

CBD products have largely been sold without governmental oversight in Florida, but this changed Jan. 1, when the office of Agriculture Commissioner Nikki Fried implemented new rules to regulate the industry.

The new rules address pesticide use, product labeling and the inspection of products produced or sold in the state, according to a South Florida Sun-Sentinel report. Retailers must pay a $650 fee to sell CBD products, and will be inspected to ensure compliance.

“[Inspectors] are going out, looking at what’s on the shelf and if you are not compliant with those labeling laws, you will be given a certain amount of time to become compliant,” Holly Bell, Fried’s cannabis director, told The News Service of Florida.

The Florida Legislature approved legislation paving the way for a regulated hemp industry in the state last year, and lawmakers charged Fried’s office with establishing a regulatory framework for hemp and CBD products, the South Florida Sun-Sentinel reported.

PIERRE, S.D. — PRESS RELEASE — On Jan. 6, South Dakota’s Secretary of State officially certified an adult-use legalization initiative for the 2020 ballot. Last month, a separate medical marijuana ballot initiative was also certified. South Dakota will now be the first state in American history to vote on medical marijuana and adult-use legalization initiatives on the same ballot.

The adult-use legalization initiative would legalize marijuana for adults aged 21 and over, establish a system for regulated sales of marijuana, and require the state legislature to enact a hemp cultivation law.

South Dakotans for Better Marijuana Laws, the campaign leading the constitutional adult-use legalization campaign, submitted over 50,000 signatures for its initiative in November. New Approach South Dakota, the campaign backing the medical marijuana effort, submitted over 30,000 signatures for its statutory initiative to enact a medical marijuana law for patients with debilitating medical conditions. The minimum number of signatures required for a constitutional initiative is 33,921. For a statutory initiative, 16,961 signatures are required.

Despite significant support among a majority of voters, politicians in South Dakota have failed to reform the state’s broken marijuana laws. South Dakota’s current laws are some of the harshest in the country. Industrial hemp and all forms of CBD oil are illegal with the exception of the FDA-approved medication Epidiolex. Gov. Noem previously vetoed a bill to legalize the cultivation of hemp. This past September, she reiterated her opposition by pledging to veto the issue again in 2020.

Two of the leading national marijuana policy reform organizations, the Marijuana Policy Project and New Approach PAC, are supporting the South Dakota campaigns.

PRESS RELEASE - Washington, DC: As first reported by Politico, the House Small Business Committee is waiving jurisdiction over the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act (H.R. 3884), making it the second House committee in the 116th Congress to advance legislation to end federal marijuana prohibition.

“With this action, the MORE Act is one step closer to becoming the first bill to end cannabis prohibition to pass the House of Representatives,” said NORML Political Director Justin Strekal. “Never have we been closer to ending federal marijuana criminalization. Thanks to the work of the Small Business Committee and Chairwoman Velazquez, the emerging legal cannabis industry will ultimately become more inclusive to small businesses and entrepreneurs.”

The MORE Act would remove marijuana from the Controlled Substances Act and incentivize states to facilitate the expungement of criminal records related to low-level marijuana offenses, among other changes. The bill passed in the Judiciary Committee on Nov. 20 with a bipartisan vote of 24 to 10.