The past month or two hasn’t been easy for a lot of countries. The Coronavirus pandemic has infected over 1.9 million people worldwide and claimed at least 118,000 lives, and experts say the virus may infect up to 70% of the world’s population. Even before the virus had left South Asia, most of the world was experiencing supply chain disruptions and the economic fallout has only gotten worse as the virus spreads.

Now, with healthcare systems almost collapsing and all but the most essential businesses closed down, the economy is taking quite a hit. The U.S. has become the epicenter of the outbreak, and the federal and state governments have had to provide funds to support healthcare facilities as well as aid to in-need citizens. While such measures are necessary to get through the pandemic, they have thrown most budgets into disarray.

In Washington, for instance, the governor has had to cut funding for a variety of programs so funds can be diverted to the Coronavirus response. This included a cannabis research provision that would have provided $100,000 funding for the University of Washington and Washington State University to “collaborate on cannabis policy, research. And outreach to create frameworks for future studies.”

The budget stated that the research was to explore “impairment due to marijuana use and the correlation between age of use, the dosage of use, and appearance of occurrence of cannabis-induced psychosis,” with a report to the legislature on the development of these frameworks due by December 1.

“These are difficult and challenging times, and we must make difficult and challenging choices. Under normal circumstances, I would not veto bills and budget items that are good policy and smart investments for the state. As everyone knows, these are not normal times,” Washington Governor Jay Inslee said.

“As we address the health crisis, we must also look ahead to ease as much fiscal pain as we can. It is all but certain that we will need to make adjustments to our next budget cycle and we must get started now.”

The governor used his inline veto to trim $235 million from the 2020 supplemental operating budget that the Legislature had approved last month, and the vetoes will trim another $210 million in the state’s next two-year budget. A total of 147 items were vetoed, reducing a total of $445 million in spending over the next three years.

This halt to funding research is likely to disappoint cannabis sector actors like Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF) (FWB: 496) who would like the academic to play a bigger role in shaping cannabis policy in different jurisdictions.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FWB: 496), a human optimization sciences company focused on applying novel and natural treatment protocols to address a broad range of disorders and deficiencies with an emphasis on psychedelic medicine, continues to accelerate its advancements within the psychedelic medicine arena. On Thursday, Champignon Brands announced its plans to acquire a leading Canadian ketamine clinic operator, psychedelic medicine IP aggregator and novel drug discoverer (the “Transaction”) and has entered into a definitive agreement (the “Agreement”) to acquire 100% of AltMed Capital Corp. (“AltMed”). “Founded and operated by Dr. McIntyre, the CRTCE has the human capital and unmatched R&D capabilities, with respect to rapid onset treatments such as ketamine, to revolutionize the treatment of depression, PTSD and substance use disorders,” Gareth Birdsall, CEO of Champignon, said in the news release. “Champignon and AltMed will leverage Dr. McIntyre’s expertise, alongside the CRTCE’s existing SOPs, data-driven research sets and practitioner education modules, to roll out five unique ketamine clinics across Florida, California and the U.S. Eastern Seaboard. Our additional ketamine clinics are projected to be fully operational by Q4 2020. Furthermore, having previously completed funding rounds, our acquisition of AltMed will further bolster our corporate treasury.”

To view the full press release, visit http://cnw.fm/cf2R9

About Champignon Brands Inc.

Champignon Brands Inc. is a research-driven company specializing in the formulation of a suite of medicinal mushrooms health products, as well as novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutritional, wellness and alternative medicine industries. Via its vertically integrated alternative medicine product range, Champignon is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (“PTSD”), as well as substance and alcohol use disorders. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, the Company is conducting pre-clinical studies and eventual human clinical trials, with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. Champignon continues to be inspired by sustainability, as its medicinal mushroom-infused SKUs are organic, non-GMO and vegan certified. For more information, visit the Company’s website at www.Champignonbrands.com.

NOTE TO INVESTORS: The latest news and updates relating to SHRM are available in the company’s newsroom at http://cnw.fm/SHRM

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Up to now, the restaurant and cannabis industries have had an interesting relationship. When states started legalizing marijuana and the industry really started picking up, restaurants started feeling the strain. As Kevin Burke, General Manager of Denver-based restaurant Morin says, restaurants were already struggling with what was effectively negative fifteen percent unemployment. The growing popularity of cannabis-infused meals strained the already scarce human resource.

“Qualified cooks could walk across the street and get a fifty cents per hour raise, and when cannabis called, they were getting a two, three dollar per hour raise,” he says. He acknowledges that the industry isn’t always employee-centered, saying that the situation helped the restaurant sector to identify some shortcomings and make conditions better for employees.

“It forced restaurants to change for the better in my opinion,” says Burke. And now, as the world faces one of the greatest threats in recent times, the cannabis industry is helping restaurant workers once again.

The Coronavirus first appeared in Wuhan, China late last year and quickly spread to every continent except Antarctica. The virus has infected over 1.4 million individuals worldwide and left at least 87,000 dead. Most governments have taken drastic measures to curb the spread of the virus, and these measures have been anything but kind to the economy.

People are advised to self-isolate and all but the most essential businesses have been shut down for the time being. And while cannabis, fortunately, made the cut, restaurants have had to shut down. In fact, most states with legal marijuana have registered increased marijuana sales, and they have taken additional steps to make sure the industry runs as safely as possible. These include allowing curbside pickups and home deliveries.

Restaurants, on the other hand, have been hit hard, and the employees have suffered most. That’s where the cannabis sector comes in. Toby Ripsom, co-founder of Veritas Cannabis saw a way he could help the restaurant industry, one of the sectors that have been especially affected, and he took it.

“When we sat down as a company to update our HR policies in light of sick days piling up, we wanted to take care of our employees through it but also became attuned of an upcoming struggle to maintain capacity,” he says. His partner, Mike, reached out to a local restaurateur, Max MacKissock, who said he was being forced to lay off more and more employees. “Mike brought that to the rest of the ownership, and we filled a void.”

Additionally, the state has thrown its weight behind the whole thing, making it a lot easier and faster to certify new cannabis employees than it was before. “The Colorado Marijuana Enforcement Division made gaining a badge an expedited, online process. It was previously an in-person application and a tougher hurdle, logistically speaking. The state has been wonderful through this hardship!”

Analysts believe such stories coming out of Colorado give cannabis industry players like Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF) (FWB: 496) the impetus that they need to think of even more ways to help out during this difficult time of the COVID-19 pandemic.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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