Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Cannabis Stocks Defy Gravity During Market Plunge

CannabisNewsWire Editorial Coverage: In the recent broad stock market sell-off, one sector resisted the market plunge.

  • Cannabis stocks shined during the market rout.
  • Global cannabis market is expected to exceed $146 billion by 2025.
  • Cannabis market analysts predict CAGR of 34.6 percent during next seven years.
  • Cannabis markets spawn dynamic ancillary businesses.

Multiple marijuana stocks shined in the sea of red during mid-October’s rout, racking up gravity-defying gains. The sizzling sector is sending signals of being uncorrelated with markets that are driven by the imperatives of institutional traders. Being untethered from the vagaries of institutional intentions is most likely advantageous for individuals intent on profiting from the impending cannabis tsunami. Marijuana sector growth has spawned a realm of new dynamic businesses in previously unimagined arenas. Leveraging the immense opportunity, NUGL, Inc. (OTC: NUGL) (NUGL Profile) has developed a first-of-its-kind, cutting-edge search app and comprehensive online directory exclusively for the marijuana industry. Heralded as a global first-mover cannabis connectivity business, NUGL just signed a deal that significantly expands its footprint and reach. The global growth in marijuana has also spurred investments in the sector by such well-known names as Constellation Brands Inc. (NYSE: STZ) and The Scotts Miracle-Gro Company (NYSE: SMG),and has launched marijuana-centric companies such as Terra Tech Corp. (OTCQX: TRTC) and KushCo Holdings, Inc. (OTCQB: KSHB).

To view an infographic of this editorial, click here.

Cannabis Jackpot

Cannabis is understandably generating intense global interest from business interests and investment communities. It’s impossible to ignore a market sector valued at an estimated $7 billion two years ago that’s now projected to exceed $146 billion worldwide by 2025 — a 20-fold increase. The stratospheric growth in the global marijuana market is anticipated to achieve a mind-boggling CAGR of 34.6 percent between 2018 and 2025.

Marijuana markets started gaining global traction in tandem with increased consumer demand for medicinal marijuana utilized for chronic pain and myriad other disorders. Medical marijuana was, in fact, the largest segment of the cannabis sector in 2016, and its value is expected to surpass $100 billion by 2025. The legalization of recreational marijuana use in multiple states and various countries has propelled demand into overdrive. The industry is now on track to bring in $8 billion by the end of this year. The research and development of safer forms of ingesting marijuana such as tinctures, oils, vapes and other edibles are expected to bolster market growth.

Connecting All Things Cannabis

On the cutting edge of the development of organic data analytics in the cannabis industry, NUGL, Inc. (OTC: NUGL) is focused on clearing up consumer confusion about the wide number of product options and becoming an integral asset to the burgeoning sector. While other attempts to connect and codify the spider web of interactions in the legal cannabis community have fallen short of expectations, NUGL expects its first-to-market, best-in-class technology platform to snag the lion’s share of this invaluable new market.

Since cannabis ads are prohibited on most social media networks, including Facebook, NUGL seized the opportunity to create the largest, most robust cannabis business networking platform in the world. The company’s internet-based search apps and online directory are the first ever to deliver global cannabis users networking power with unbiased search results, eliminating paid placement listings and skewed reviews. NUGL’s networking platform employs both business-to-consumer and business-to-business applications, providing the tools the industry needs to connect both pieces of the industry together. This allows all cannabis services, events and brands the ability to network and bring their companies to market.

NUGL’s platform is designed to serve cannabis-related businesses, products, services and users by building a community that meets the needs of each segment. NUGL puts the power of connection and self-promotion back into the hands of cannabis companies, giving them the tools to build a dedicated profile featuring their brands and services. The NUGL cannabis community is experiencing significant growth as dispensaries, strains, doctors, lawyers, service professionals, vape shops, hydro stores and brands are joining daily.

Profiles for Every Community Member

NUGL offers four types of profiles: brands, events, services, and retail. Each of these profiles can connect and interact with each other, allowing an unprecedented level of communication between each segment of the cannabis market. For instance, using the NUGL app, brands can explore and develop their distribution capabilities by connecting with retail locations. Brands can even use the app to market their products, letting stores know about special order discounts, specials, and other marketing information.

When a brand and retail store have inked a distribution deal, the store can benefit by being included on the NUGL store locator. That means that when a user searches for a specific cannabis brand, the retail store appears on a source map, driving consumers to the location.

Cannabis service providers can use NUGL to reach out to everyone on the app, advertising the unique services they provide. For instance, a CPA firm that specializes in the cannabis market can communicate directly with the niche clients it is looking for. And finally, events such concerts or other occasions that either focus on or are open to cannabis users can extend invitations and attract participants.

NUGL’s iOS and Android apps are available in the Apple and the Google Play stores, and the company is intensely consumer focused. Future software development is directed and driven by community feedback. Reinforcing its credo of “for the people, by the people,” NUGL just announced major updates to its app in response to community feedback asking for a more robust mobile application.

In tune with consumer input, NUGL proactively launched major mobile application updates that included, in part, newly redesigned profile pages and updated brand profiles. The company also added new swipe gestures and social media links to profile pages, as well as menu tabs and social share links to profiles. And NUGL simplified search functions with an updated search bar, new filters, improved brand search functionality and redesigned icons.

Multiple Platforms Expand Reach

There’s little doubt about consumer demand for cannabis or the void of platforms to efficiently connect consumers to cannabis-related companies and services. NUGL is rapidly filling that void and expanding at breakneck pace. NUGL’s user sign-ups and mobile app downloads in September eclipsed expectations and surpassed industry standards for comparable tech start-ups.

“We not only saw great returns on our initial spend but also saw the beginning of a viral push. Our next step is to scale our marketing model and watch NUGL grow its user base and app downloads even more,” NUGL CMO Ryan Bartlette stated.

Last month NUGL expanded its footprint and reach through a national joint venture marketing agreement with Nichols Publishing Company. NUGL is adding tens of thousands of print readers and online visitors with cannabis-centered magazines Garden & Greenhouse and Professional Marijuana Grower). Together, the magazines reach a cornucopia of small commercial growers, hobby growers, hydroponic and indoor gardeners, licensed cannabis growing facilities, processors and dispensaries. The magazines complement NUGL Magazine, which covers cannabis industry news and how it affects the cannabis community.

In a dramatic development, NUGL just announced a binding letter of intent to purchase Nichols Publishing Company. In what can be viewed as complete confidence in NUGL’s future, Nichols Publishing agreed to be acquired in exchange for $1 million in NUGL common stock. Nichols Publishing was founded by Robin Nichols more than a decade ago, and its cannabis trade magazines have grown into well-known brands. Nichols will join NUGL following the acquisition and run the publications’ operation under the NUGL name.

With clear intentions to dominate the market for global connectivity as it relates to cannabis consumers and businesses, NUGL’s decision to acquire Nichols Publishing is likely just a beginning as it expands its platforms and global footprint to synergistically support cannabis consumers and cannabis industry growth.

The Epiphany

There’s zero question about the past growth of the marijuana market, and future growth looks even brighter. Although the sector shines even during market sell-offs and marijuana stocks are reaching new highs, some say the sector is top heavy and frothy. If true, from this point forward, nascent ancillary business that feed and support consumers, services and businesses in the cannabis industry may hold much greater upside potential.

Constellation Brands Inc. (NYSE: STZ) just made the largest investment to date in the cannabis space. The company is already a leading international producer and marketer of beer, wine and spirits. With the recent $4 billion investment, Constellation looks to accelerate market position, perhaps create cannabis-infused drinks and expand its portfolio in emerging cannabis markets around the globe.

The Scotts Miracle-Gro Company (NYSE: SMG) is the world’s leading marketer of branded consumer lawn and garden products as well as hydroponic growing products. The company’s wholly owned subsidiary, The Hawthorne Gardening Company, is a leading provider of nutrients, lighting and other materials used in the hydroponic growing segment and now cannabis. The lawn and garden giant invested more than $1 billion in the past few years on a wide variety of companies that produce items connected to cannabis cultivation.

Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses to provide both medical cannabis to patients and premium cannabis to the adult-use market in Nevada and California. The company’s wholly owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce. Terra Tech’s MediFarm LLC subsidiaries are focused on medical and adult-use cannabis cultivation and permitting businesses throughout Nevada.

KushCo Holdings, Inc. (OTCQB: KSHB) is the parent company to a diverse group of business units in the cannabis, cannabidiol (CBD) and cannabis-related industries. KushCo’s subsidiaries and brands provide exceptional customer service, product quality, compliancy knowledge and a local presence in serving a diverse customer base. KushCo Holdings’ brands include Kush Supply Company, Kush Energy, Hybrid Creative and Koleto Packaging Solutions.

For more information on NUGL, visit NUGL Inc. (OTC: NUGL)

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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CannabisNewsWire (CNW)
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www.CannabisNewsWire.com
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Editor@CannabisNewsWire.com

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

420 with CNW – Analysts Predict the Medical Cannabis Industry Will Out-Earn the Recreational Market

While the world is still marveling at the bold step that Canada took to legalize recreational marijuana and the resources that the recreational market is likely to command with that legalization, analysts are suggesting that the real money is most likely to be made in the medical cannabis arena.

The medical cannabis market is predicted to be worth approximately $50 billion by 2025. This is a huge jump from what the value of the medical cannabis market was in 2017 (just over $8 billion).

The huge potential for the medical marijuana takes on a bigger positive outlook when one considers the rate at which several countries around the world are legalizing the medical use of cannabis.

The UK plans to allow doctors to start prescribing marijuana in November this year. Malaysia is working out how to permit the medical use of cannabis. Denmark and Luxembourg are also taking steps to legalize medical cannabis.

The rate at which the list of countries where medical marijuana is allowed is growing much faster than the rate at which recreational cannabis can be expected to be decriminalized around the world.

The stigma attached to recreational cannabis use is one of the major reasons why one would be well advised to put their money on medical cannabis instead of thinking of investing in the recreational marijuana sector.

It is significant that the FDA approved a marijuana-based drug in June for the treatment of childhood epilepsy. That was the first time that the U.S. agency approved a cannabis-based drug in a country where the federal government still looks at marijuana as a schedule 1 substance (substances with no medical use and a high likelihood of being abused).

Pharmaceutical companies have also been courting Canadian cannabis industries in order to discuss possible partnerships in developing the medical cannabis sector further. For example, the Canadian division of Swiss-based Novartis International AG has reached an understanding with Tilray Inc. to develop cannabis delivery systems and products jointly.

It should be noted that the pharmaceutical industry carefully weighs the prospects in a given sector before making a commitment. This is because lots of resources are usually invested in R & D before a product ever has a chance to reach the market.

The moves by pharmaceutical firms to partner with cannabis companies is therefore an indicator that the long-term prospects for medical cannabis are solid and major investments can be made into the sector. American marijuana companies like NUGL Inc. (OTC: NUGL) and SinglePoint, Inc. (OTCQB: SING) can only pray that the regulatory climate in the U.S. improves quickly so that they aren’t left behind as the medical cannabis industry evolves rapidly.

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About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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For more information please visit https://www.CannabisNewsWire.com

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CannabisNewsWire (CNW)
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420 with CNW – Alaska Decides to Modify Marijuana Taxes

The state of Alaska has decided to make some changes to the way it taxes marijuana. These changes were prompted by concerns raised by industry players regarding the lack of distinction between different kinds of cannabis buds.

The type of bud plays a role in the quality (and the price) of any products that are derived from that bud. The tax authorities haven’t been putting this into consideration, an oversight that made legal cannabis very pricey hence inadvertently promoting the black market.

Currently, each ounce of cannabis flower or bud is taxed $50 while trim (the rest of the plant) incurs a $15 tax per ounce. These taxes are paid by the grower as the produce is sent to a manufacturing facility or to a retail store where it is sold as dry bud or any other unprocessed form of the plant.

The new tax measures which will start being implemented on January 1, 2019 will see mature flower or bud incur an excise tax of $50 an ounce while the abnormal or immature flower will attract a $25 tax for each ounce. The rest of the plant will still be taxed at the same level as before, which is, $15 an ounce.

The planned tax changes will see three tiers of taxes for different kinds of marijuana. Many industry participants see these changes as insufficient and they are calling for wide ranging modifications.

However, those broader changes can only be made by the legislative arm of the state by modifying the law under which cannabis became legal in Alaska.

Conducting such extensive reforms would be a time-consuming process that would involve numerous steps, such as conducting hearings in order to gather views from the public and other stakeholders before the appropriate committee prepares a report to be voted on by all legislators.

Alaskans voted in 2014 to decriminalize recreational marijuana and that ballot measure took effect towards the end of February the following year.

Supply shortages compelled many marijuana retailers to close shop for a while in December 2016 and the first month of 2017. These businesses reopened once the shortages were fixed.

The existing tax policy was threatening to take some marijuana companies out of business and the limited changes being made are attempts to allow businesses to lock in some profits so that the industry can remain robust. Earth Science Tech, Inc. (OTCQB: ETST) and FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) can only hope that all jurisdictions move to make the business environment more favorable to the players.

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About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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Canada Leads International Cannabis Boom — and It’s Not About Smoking

CannabisNewsWire Editorial Coverage: Legal changes in Canada are creating an ideal base for cannabis companies, which are shifting their focus away from smoking.

  • As the first G20 nation to make recreational cannabis legal, Canada is creating an opportunity for its cannabis companies to become global leaders.
  • Analysis shows that the global cannabis market is larger than expected — and set to keep growing.
  • Many new consumers prefer not to smoke their cannabis, leading to a shift towards cannabis-derived food and drinks.

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) (LXRP Profile) has developed patented technology that helps make cannabis available to nonsmokers; the company’s innovative development methods make cannabis’ active chemicals more palatable and more effective in food and drink. Companies such as Tilray, Inc. (NASDAQ: TLRY) are expanding their production to cater to this growing market, resulting in rising share values. GW Pharmaceuticals Plc (NASDAQ: GWPH) has leveraged its position in the market to raise extra financing through a $345 million public offering.  Aurora Cannabis, Inc. (OTC: ACBFF) (TSX: ACB) has been focusing on ensuring access to a broad market, setting up supply agreements across Canada. Meanwhile, other companies are evaluating international growth opportunities, with Cronos Group, Inc. (NASDAQ: CRON) (TSX: CRON) having established subsidiaries on five continents.

The Canada-led Revolution

This month marks one of the most dramatic changes ever in the cannabis market, a moment set to transform the industry and the way that it’s viewed. As of Oct. 17, consumers across Canada are able to buy cannabis for recreational consumption for the first time. Canada is the first G20 nation to make such a change, and the precedent could be critical. Other countries are watching what happens in Canada, as voters around the world push their governments toward similar legalization; there are already more than 30 countries around the world where cannabis is legal in some form for medical use.

The Canadian example comes just as analysis shows that the cannabis market is larger than previously realized and set for continued growth. This puts Canadian companies in a powerful position, able to make the most of being based in a country that’s friendly to the cannabis industry. By using the freedom and opportunities this presents, these companies could easily become global leaders in a fast-growing sector.

Canada Legalizes Cannabis

For Canadian companies working in the cannabis sector, such as Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), huge changes are coming.

After much political maneuvering, recreational cannabis is now legal in Canada in keeping with a promise made by Justin Trudeau when he was elected prime minister in 2015. The wait has been frustrating for some, but it has given companies such as Lexaria time to establish their leadership position.

Canada already has a thriving medical cannabis industry, in which tight regulation provides control over the use of drugs. The new regulations extend this careful approach to the recreational market. Using a model similar to liquor licensing, retailers will have to be licensed to sell cannabis and follow clear rules. Those who try to sell outside the system will be quickly shut down.

In setting up its system, the Canadian government and provincial authorities have learned from the example of legalization in certain U.S. states. They worked with cannabis companies to ensure that the licensing system for both production and retail was ready for the Oct. 17 deadline While there will undoubtedly be hitches, including the likelihood that demand will initially outstrip supply, this appears likely to be a smooth launch.

Companies have also been making adjustments. For example, Lexaria recently announced a new subsidiary, Lexaria CanPharm Corp., which is focused purely on applying the company’s technology to the cannabis industry. Because Lexaria sells technology, if is already earning revenue in several locations both within and outside of Canada without touching the plant. Lexaria has a Canadian base but international reach.

Cannabis Market Larger Than Expected

Judging the potential size of the legal cannabis market is a tricky business. The drug’s widespread illegality around the world means that data is almost entirely drawn from surveys, in which respondents may be wary of admitting their consumption. Legalization will likely lead to changes in consumption patterns; easier access will almost certainly increase both medical and recreational demand.

Despite the limitations on judging the market, observers have been keen to estimate what the market could represent. A survey from before legalization indicated that 4.2 million Canadians consume cannabis on a regular or occasional basis. Based on this data, companies and commentators have predicted an industry worth billions of dollars, which could quickly surpass the whiskey industry.

But leading cannabis commentators are now suggesting that previous estimates may have undervalued cannabis’ potential. The only specialist cannabis analyst for a major Wall Street trading firm believes that the impact of legalizing a previously illegal market has been underestimated. Legalization could lead not just to large-scale sales of cannabis but also to its use as an ingredient in other products. Because Fortune 500-type companies are now interested in the space, the market could eventually be worth hundreds of billions of dollars.

If that analysis is accurate, then many cannabis companies are being massively undervalued. That’s good news for the future prospects of businesses such as Lexaria.

Consuming Cannabis without Smoking

This growth is likely to be coupled with changes in the way cannabis is consumed — changes of huge relevance for Lexaria.

A recent survey of U.S. consumers showed that many would like to try cannabis if it became legal. They also said that they would be more likely to do so if they could consume the plant through food. Putting cannabis into drinks and snack foods will make it easier for people to enjoy in a social setting with friends, in a similar way that they currently consume alcohol. That would make it a more popular and accepted part of everyday life.

Lexaria’s patented technology could be invaluable for companies catering to this desire. Its lipophilic enhancement technology is designed to improve the biological conductivity of active compounds, including those found in cannabis. It increases their potential for absorption by the body, meaning that consumers get better value for their cannabis. It also improves the taste, which will be important in making cannabis food and drinks popular. Recent tests have shown good results for applying this technique to active ingredients derived from cannabis.

Lexaria plans on licensing this technology to third-party partners and was recently awarded its 9th and 10th granted patents applicable for cannabis beverages. With cannabis-infused food and drink set to hit the Canadian market next year, and with large companies eyeing its potential, plenty of companies are sure to be interested in such technology that takes advantage of Lexaria’s leadership position.

Growing with the Market

The legalization of recreational cannabis is good for companies already working in the Canadian medical market such as Tilray, Inc. (NASDAQ: TLRY). A company with a strong pedigree in research and development, Tilray is expanding its sales potential in preparation for the recreational market. Its High Park Farms subsidiary recently received a license to sell cannabis in Canada and has already carried out several harvests to get stocks ready for sale. Such moves have led to positive views of the company’s future, with Wall Street commentators predicting a huge rise in the value of its shares over the next year.

The expectation of huge growth in the cannabis industry is helping companies raise extra finance to tap into that market. GW Pharmaceuticals Plc (NASDAQ: GWPH) has just raised over $345 million through a public offering. A medical cannabis company, GW isn’t currently involved in the recreational sector but is still profiting from the growth it brings.

One of the big players in Canada’s medical cannabis market, Aurora Cannabis, Inc. (OTCQX: ACBFF) (TSX: ACB), has been laying the groundwork to make the most of recreational sales. The company has supply agreements with provinces across Canada, giving it the opportunity to reach a broad customer base. As well as providing quick profits, this will help to establish brand recognition early on for greater influence as the market grows.

While attention is currently focused on Canada, that is just one part of the cannabis market. As with other industries, global reach will eventually decide the biggest players, and Cronos Group, Inc. (NASDAQ: CRON) (TSX: CRON) is already working on such expansion. With subsidiaries in North and South America, Europe, Australia and Israel, the company is tapping into growing cannabis markets around the world. Lessons from Canada will help in developing these other markets and in positioning Cronos to make the most of them.

The legalization of cannabis in Canada is a critical part in an international puzzle, one whose pieces include unexpected growth, global connections and transformations in consumer habits. Put together, these pieces offer the hope of a profitable future for cannabis companies.

For more information on Lexaria Bioscience Corp., visit Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP)

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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CannabisNewsWire (CNW)
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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

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420 with CNW – UK Doctors to Start Prescribing Cannabis in November

Doctors in the UK (Wales, Scotland and England) will soon start prescribing cannabis for their patients who have conditions that can be improved by this substance.

This announcement was made by the UK Home Secretary, Sajid Javid. He stated that cannabis would see its status changed from a schedule 1 substance (substances with no therapeutic value but having a high likelihood of being abused) to a schedule 2 controlled substance.

That change would allow doctors to prescribe cannabis-products for those patients who would benefit from such derivatives (CBD oil, for example).

However, cannabis would still be controlled since its new status would still regard it as something that has a high potential for being abused.

The Home Secretary said as much when he reiterated that adult use of cannabis would not be accepted and no patient would be allowed to smoke cannabis as a way of treating his or her condition.

The new regulations that will amend the Misuse of Drugs Regulations 2001 will come into force on November 1.

The amendments come hot on the heels of prominent cases in which several kids were denied the right to use cannabis oil as a way of controlling their epileptic seizures. Those cases were controversial because cannabis oil had been found to be beneficial for people suffering from refractory epilepsy.

The new regulations will permit three avenues through which a person can consume cannabis-based products. The first way is when the patient gets a prescription from a doctor to get a medical product made from cannabis.

The second way through which one can consume a cannabis product is when such a product is being used in an investigational program (clinical study) into which the user has been enrolled.

The third and final way through which one can consume a cannabis product is when such a product has been approved for sale by the relevant regulators. This category includes medicinal cannabis products that have been approved as over the counter products for which a prescription isn’t required.

The regulatory changes by the UK government comes at a time when an expert committee of the World Health Organization is set to meet in November to review the classification of marijuana as a schedule 1 controlled substance. That meeting also comes at a time when Canada has just made history as the first G8 member state to legalize recreational marijuana.

These positive actions in the cannabis industry are pieces of good news to Koios Beverage Corp. (CSE: KBEV) (OTC: KBEVF) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) who are convinced about the benefits that this product can bring.

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420 with CNW – A Peek Into Canopy Growth’s Cannabis Manufacturing Facility Just Before Legalization Day

Wednesday (October 17) marked the start of a new era in Canada after recreational cannabis became legal. Canadians waited for this day, but not as eagerly as Canopy Growth, one of the leading cannabis companies in the country.

The President and co-CEO of the firm, Mark Zekulin, said that they pulled all the stops, including using every kind of transportation available in Canada (except dog sleds) to ensure that cannabis supplies were distributed to all the retailers who had placed orders from around the country.

Zekulin added that the company had been preparing for legalization day for years. That statement cannot be conceived as bragging since the company has been operating for years when only medicinal marijuana was legal in Canada.

Those long years of preparation were also revealed when the co-CEO said that the manufacturing plant of the company also has an edibles division even if cannabis edibles are not yet legal in Canada. It is believed that edibles will be legalized after about a year from the date when recreational cannabis hit the retail stores.

The information above was shared as the co-CEO and the VP for Communications took a team from Cheddar TV Network around their Ontario-based manufacturing facility.

The cannabis facility is housed in a building that used to host a Hershey’s chocolate factory in the past. To honor that heritage, Canopy Growth plans to make chocolates with a twist; chocolate infused with marijuana.

Canopy Growth employs more than 800 people at its Ontario headquarters, and those hundreds of employees must have had long shifts scrambling to make October 17 a success despite the logistical challenges of moving so much cannabis within such a short time.

The “vault” at the manufacturing plant had about half a billion dollars’ worth of marijuana and marijuana products at the time the Cheddar Network team toured the facility. That stockpile is only expected to sit on the shelves for a few days before it is all distributed to retailers and medical cannabis dispensaries throughout Canada.

Analysts estimate that the demand for marijuana is likely to hit more than 610 tons yet the existing suppliers can only avail 210 tons of marijuana. It is no wonder that Canopy Growth had to send out an all-hands-on-deck call to its employees in order to hit the ground running on day one of legal recreational cannabis.

American marijuana companies like Marijuana Company of America (OTC: MCOA) and Medical Cannabis Payment Solutions (OTC: REFG) can only watch from a distance hoping that it won’t be long before marijuana becomes legal at the federal level in the homeland.

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420 with CNW – Canada’s Experiment With Legalized Marijuana Begins

The countdown to the legalization of recreational marijuana use in Canada ended yesterday when retail stores opened for the first time to serve adults who wanted to consume this substance that has been wrapped in a lot of controversy for decades. Legalization day also marked the start of one of the biggest “experiments” in public health policy. This is because cannabis was legalized without fully understanding how different categories of people would be affected by its regular consumption.

Of primary interest are teens and young adults. While federal law places the minimum age for those who can legally buy and consume cannabis at 18, provinces and territories imposed their own age limits with several putting it at 19.

Those age limits still give the scientific community the jitters since there is widespread agreement that a person’s brain continues to develop until that individual turns 25. This means that a young adult or an adolescent will have several years within which to consume a substance that could potentially alter the structure of that person’s brain during these crucial formative years.

Public health groups and the scientific community will be watching this age group closely in order to ascertain the actual impact of cannabis consumption upon them both in the short term and the long term.

The second category of people that has scientists worried is those who are predisposed to developing different kinds of psychosis, such as schizophrenia. Cannabis consumption has been linked to triggering episodes of psychosis, but it isn’t clear exactly how the substance affects the brain in order to trigger the condition.

Younger people are at a higher risk of developing psychosis if those individuals are predisposed to it and consume cannabis early in life. Researchers are ready to study this special group and learn more about the way cannabis affects their brains.

Of special concern to the scientific community are the senior citizens who may consume cannabis now that it is legal. This section of the population is usually overshadowed by the focus centered upon teens and young adults, but they also deserve serious attention.

Seniors often have a number of health conditions, such as high blood pressure, diabetes, arthritis and weakened body systems. It is not known how cannabis will interact with the different medications those seniors are taking for their health challenges.

Sections of the scientific community will be watching these older members of the community closely given that the sharpest increases in cannabis consumption have been registered in this group.

The fourth group that will be watched closely are the pregnant or nursing mothers. The medical community urges these people to refrain from consuming cannabis in the same way that advice is given to avoid other substances like alcohol and tobacco during this stage.

However, advice (professional or not) can either be accepted or ignored. Researchers will therefore be looking out for the impact that cannabis has on pregnant women or those breastfeeding who go ahead and light a joint every so often.

The eyes of the world are on Canada to see how this experiment with cannabis pans out. The results will either encourage other countries to open up to marijuana, or strengthen their prohibitionist positions. Cannabis industry players like Green Hygienics Holdings Inc. (OTC: GRYN) and GreenBox POS, LLC (OTC: GRBX) have their fingers crossed hoping that Canada’s lead is followed by other countries.

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420 with CNW – FDA Calls for Public Comments on Marijuana

The U.S. Food and Drug Administration has announced that members of the public and the scientific community have an opportunity to share their thoughts on several substances, including marijuana. Of specific interest is the medical usefulness, abuse potential and actual abuse of the listed substances (including cannabis).

The FDA action comes at a time when the World Health Organization (WHO) is planning to meet in November this year to review the scheduling of cannabis. The ECDD (Expert Committee on Drug Dependence) is the body that will decide whether marijuana should stay as a schedule 1 substance or that categorization should be changed.

Schedule 1 substances are substances which are regarded as having no medical value yet they possess a high risk of being abused. The UN and the U.S. currently categorize marijuana as a schedule 1 substance.

The outcome of the ECDD meeting will influence how many of the UN member states regard cannabis going forward. However, the decision arrived at may or may not be disregarded by member states.

For example, Canada went ahead and legalized adult use of marijuana despite its categorization as a schedule 1 substance. Similarly, many countries around the world have legalized medical cannabis even if the UN looks at the substance as having no medical value.

The current count of U.S. states where medical cannabis is legal now stands at 31, and more are expected to vote for decriminalization during the coming mid-term elections.

Marijuana advocates should not start celebrating that the Trump administration is finally willing to listen and act on the views of the stakeholders of the marijuana industry.

The administration is bound by law to collect people’s views, but there is no compulsion for them to pay any attention to the voices which speak up during the hearings.

That notwithstanding, numerous groups, such as the Marijuana Policy Project, have collected and submitted lots of scientific and anecdotal data on the medicinal value of cannabis to the WHO committee. That same information will be forwarded to the FDA which has put an October 31 deadline on the submission of comments.

Of key interest is the matter of teen use of marijuana. The current data suggests that no increase in the number of teenagers using pot has been seen in the states where marijuana use is legal either for recreational or medical reasons. This should allay any fears that public health will be threatened by an explosion of teen stoners.

While marijuana advocates hope for the best from these hearings, they are also aware that a committee was secretly set up by the Trump administration to gather negative data about cannabis. Companies like Global Payout, Inc. (OTC: GOHE) and Golden Developing Solutions, Inc. (OTC: DVLP) keep wishing that regulators and legislators everywhere listen honestly and make decisions based on concrete data instead of relying on preconceived notions when making policy decisions.

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420 with CNW – U.S. Customs Now Says Canadian Cannabis Industry Workers Can Enter the U.S.

The cloud of uncertainty in the minds of Canadians working in the legal marijuana industry may have lifted a little after the U.S. Customs and Border Protection Administration (CBP) put up an update on its website stating that cannabis industry workers may be “generally” admissible into the U.S. in case their travel isn’t connected to their work.

This clarification comes several weeks after CBP issued a press release in which it suggested that anyone involved in the cannabis industry would not be allowed to cross into the U.S. That statement left marijuana industry workers contemplating an end to simple things like fulfilling the dreams of their kids by visiting Disneyland or even escaping the harsh Canadian winter by seeking out warmer locations across the border to the south.

The new statement clarified that any person involved in the Canadian cannabis industry may be denied entry in case such a person is coming to the U.S. on matters that are related to their work in the cannabis industry. Legalization in Canada doesn’t alter the prohibition of marijuana by U.S. federal law, the statement added.

However, the CBP statement is silent on what the fate of people who admit that they consume cannabis will be at entry points.

What the statement mentions directly is that those who have been convicted for violating U.S. or other countries’ drugs laws will not be allowed into the U.S.

Legal experts agree that the recent statement by CBP provides a more reasonable approach to handling the matter of Canadian cannabis industry workers who wish to travel to the U.S. However, those experts also point out that several grey areas still exist.

For instance, it wasn’t clear how the border authorities will determine which activities are connected to the industry and those that aren’t. Is traveling to attend a marijuana conference in the U.S. outlawed?

Lawyers who specialize in cross-border matters also think that Customs and Border Protection worded their statement cleverly in order to give their agents wiggle room when determining whether to allow someone into the country or not.

It is expected that the position of the U.S. border authorities will keep evolving in the coming weeks and months as the kinks in their current policy get ironed out. In the meantime, Canadians are advised to be mindful about the existing U.S. laws in order to avoid being found in breach of those laws while traveling to or while in the U.S.

ChineseInvestors.com, Inc. (OTCQB: CIIX) and Choom Holdings, Inc. (CSE: CHOO) (OTCQB: CHOOF) must be equally concerned about the grey areas or contradictions in the cannabis laws at different jurisdictional levels.

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420 with CNW – Washington State Marijuana Tracking System Flawed, Says Report

An assessment report released by Gartner Consulting recently has found that Washington State rushed to implement a seed-to-sale marijuana tracking system even though the regulator and the system provider knew that the tracking system was flawed.

That rushed implementation cost retailers revenue since many dispensaries were unwilling to buy marijuana from those retailers whose systems hadn’t been integrated with Leaf Date Systems (the tracking platform created by MJ Freeway).

Gartner Consulting is an independent technology and research firm based in Connecticut. Washington State LCB (Liquor and Cannabis Board) contracted Gartner Consulting to assess the tracking system over a period of eight weeks.

The consulting firm noted that the tracking system was unstable and crashed several times during the assessment period.

Gartner Consulting placed the blame for these technical glitches on both LCB and MJ Freeway.

LCB is blamed for making a decision to go live with a system that was flawed and could not pass numerous basic tests for such platforms. The regulator should never have allowed an immature system to be commissioned since that put the entire marijuana value chain tracking system at the risk of a total collapse when so much was at stake.

The consultant also pointed out several issues which put LCB and the developer on the spot. For example, the deployment schedule followed was labeled “impossible” by Gartner Consulting since such projects usually take at least a year to develop and deploy. MJ Freeway should have known better and demanded a reasonable timeframe within which to design a defect-free platform.

The assessment also concluded that the platform designer and the regulator underestimated what would be required to customize the platform for Washington State.

A more stinging criticism for MJ Freeway was that the methods upon which the entire system was developed and implemented didn’t adhere to industry best practices. Consequently, the system raises persistent security concerns.

Gartner Consulting went on to propose ten steps through which the tracking system can be salvaged and improved. For example, the consultant recommends that Washington State hires an experienced firm to provide software integration so that the system can work seamlessly with the software used by other marijuana industry players.

Alternatively, the state could take the radical decision to cancel the project and implement a new one.

Jessica Billingsley, the CEO of MJ Freeway, admitted that though they deployed the system in record time, it had some technical issues which are being addressed to improve it. The company has been taking steps to address all the concerns raised in the Gartner report. TransCanna and VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) must be hoping that they never be at the receiving end of such harsh criticism of their products and services.

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