420 with CNW — Weather Vagaries Trigger Medical Marijuana Shortages in Jamaica

Jamaica, a country that has long been associated with cannabis, reggae and Rastafarianism is running low on marijuana. Despite being named after sturdy plants that can generally withstand most kinds of terrains and weather extremes, “weed” actually requires a specific blend of moisture and heat to thrive. Unfortunately, Jamaica has experienced heavy rains that pummeled the crop followed by an extended drought that dried everything out, causing massive losses and a significant reduction in supply.

According to farmers who grow cannabis, the heavy rains followed by drought caused tens of thousands of dollars in losses. Daneyel Bozra, a marijuana grower in the southwest part of Jamaica, says the weather destroyed everything. He grows cannabis in Accompong, a historical village founded by escaped 18th-century slaves called maroons. The coronavirus pandemic and resultant health measures, including a 6 p.m. curfew, made the situation even worse.

Kenrick Wallace, a 29-year-old farmer who also grows cannabis in Accompong, says the curfew disrupted the farmers’ routine of tending to their fields at night. With the lack of roads forcing the group of farmers he works with to walk to reach their fields as well as to get water from wells and springs, they simply didn’t have enough time to care for their plants. Wallace cultivated only 300 pounds of marijuana compared to the average 700 to 800 pounds his group normally produces; he estimates they may have lost more than $18,000.

An upsurge in demand is also to blame for the gaps in the cannabis supply chain. With the country loosening its previously rigid cannabis policies and the pandemic causing more people to turn to cannabis, the supply chain has had a hard time catering to the ballooning demand. Tristan Thompson, chief opportunity explorer for Tacaya, a consulting and brokerage firm for the country’s surprisingly young legal cannabis industry, calls it a “cultural embarrassment.”

Last year was the worst year, he says, adding that growers have never seen this amount of loss. Tourists have started coming into the country, many of them looking for its famed cannabis, and many have posted on travel websites how Jamaica is running low on marijuana. CEO of Jamaica’s Ganja Grower’s and Producers Association Paul Burke says that with the government loosening restrictions, more people can appreciate its therapeutic value without the stigma that has been attached to usage in the past.

Back in North America, Canada-based Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) has set its sights on leveraging genetics in a bid to produce the best marijuana products and strains available on the market.

NOTE TO INVESTORS: The latest news and updates relating to Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) are available in the company’s newsroom at http://cnw.fm/PACR

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420 with CNW — Jazz Pharmaceuticals (NASDAQ: JAZZ) to Acquire GW Pharmaceuticals (NASDAQ: GWPH) for $7.2 Billion

Jazz Pharmaceuticals (NASDAQ: JAZZ), a global pharmaceutical company, has come to an agreement to acquire GW Pharmaceuticals (NASDAQ: GWPH) for $7.2 billion in stock and cash. GW Pharmaceuticals, which is based in the United Kingdom, is one of the biggest medical cannabinoid businesses globally.

This buy would be the biggest move made by a pharmaceutical firm into cannabis to date, which demonstrates that pharma companies recognize both the future and current potential of cannabinoid-based treatments.

This move into cannabis could also encourage more investments into the growing field. Additionally, the deal establishes the validity of GW Pharmaceuticals’ focus on developing new treatments through official regulatory pathways.

The proposed stock and cash transaction reads that every GW Pharmaceuticals shareholder will receive $20 in Jazz ordinary shares for every GW Pharma ADS (American Depositary Share) and $200 in cash. This will result in a total consideration of $7.2 billion.

During a conference call with analysts, GW Pharmaceuticals CEO Justin Gover stated that in the last two decades, the company had been able to show that the cannabinoid platform was a compelling and real science, adding that there’s a lot of potential for growth in the approved indications.

The company’s chief medical product is Epidiolex, which achieved nearly $510 million in yearly sales in two years of its introduction to the market. The drug has been approved in some countries as a treatment for seizure disorders.

Jazz Pharmaceuticals CEO Bruce Cozadd stated that he saw an opportunity to grow sales in Europe. He told analysts that while the GW Pharmaceuticals team had done a remarkable job, there was opportunity to expand.

The deal has been approved by the boards of the respective companies and is expected to close within 2021’s second quarter. Before entering the agreement with GW Pharmaceuticals, Jazz Pharmaceuticals, which is based in Dublin, Ireland, had announced that it expected to report earnings between $2.32 and $2.38 billion last year.

Unlike other marijuana companies that capitalize on medical marijuana products that may not have gone through successful clinical studies, GW Pharmaceuticals has developed products using regulatory approval pathways, which include conducting clinical trials.

In addition to this, GW Pharmaceuticals has spent the majority of its capital on development and research, which helped it become the biggest medical cannabinoid firm globally. The firm has employed more than 192 individuals in operations and manufacturing with an additional 278 in the development and research department.

Furthermore, the company exports its products to more than 30 countries, either for research or commercial purposes. The company’s shares are traded on NASDAQ as GWPH.

On the topic of pharmaceutical-grade cannabinoids, California-based Green Hygienics Holdings Inc. (OTCQB: GRYN) also manufactures bioactive cannabinoids that can be used by the pharmaceutical industry.

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420 with CNW — NJ Lawmakers Approve Cannabis Legalization Bill Addressing Governor’s Concerns

On the November ballot, voters in New Jersey approved a referendum to legalize marijuana, joining the growing number of states that allow cannabis. Shortly after the vote, the legislature introduced and passed enabling legislation that would create a regulated cannabis market. However, after lawmakers passed the legislation, New Jersey Gov. Phil Murphy revealed that he wasn’t a fan of the lack of penalties for underage possession.

To put his fears at ease, lawmakers tried to pass a bill addressing the issue of youth possession, but after key legislators pulled their support, a floor vote was canceled. This past week, however, a New Jersey Assembly Committee approved a “clean-up” bill that would address underage possession and pave the way for legalizing cannabis in the state. The proposal would fine adults aged 18 to 20 years $50 for possession of up to an ounce of cannabis and $100 for more than an ounce. On the other hand, anyone under age 18 would not be subject to a civil penalty; rather, they would receive a warning.

The bill also called for the creation of a task force to make recommendations to the governor and lawmakers on how law enforcement could address the enforcement of underage possession of cannabis as well as the broader issue of youth possession and consumption of cannabis items. Although the proposal has the support of New Jersey’s ACLU chapter, its fate in the full assembly, the Senate and the governor’s desk is unknown.

According to the ACLU, the task force will pave the way for future reform and provide a clearer look at law enforcement practices in action. The new bill also addresses an issue that has vexed many drug-reform activists, namely using the odor of cannabis as a pretext for searches by the police. According to the proposed legislation, the odor of cannabis shall not pose “reasonable articulable suspicion,” meaning law enforcement officers will not be allowed to search a person based on the smell of marijuana alone.

While this version of the bill has the ACLU’s support, the bill sent to the governor late last year didn’t. The organization claimed that the bill, which included a social equity tax and a provision that would direct 70% of all state cannabis sales tax to areas disproportionately affected by the war on drugs, didn’t do enough to address racial injustices of the war on drugs or give victims of the war a path to profiting from the marijuana industry.

Meanwhile, many companies have blossomed in the Michigan cannabis market after marijuana was legalized there. One such company is Gage Cannabis Co., which has set a standard for selling only the highest-quality cannabis as well as providing each customer with a top-notch customer experience.

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420 with CNW — CBD May Be the Remedy for Gonorrhea and Other Bacterial Diseases

A report from a team of researchers from the University of Australia, published in “Nature,” has demonstrated how synthetic cannabidiol (“CBD”) can eliminate various bacteria responsible for ailments such as Legionnaires’ disease, meningitis and gonorrhea. The report suggests that CBD could bring about a class of new antibiotics for resistant bacteria in a few decades to come.

The researchers tested CBD’s antimicrobial activity using lab models to imitate a two-week patient treatment. This would enable the researchers to observe how rapidly the bacteria mutated to try to outmaneuver cannabidiol’s power to eliminate them. The study’s abstract reported that the researchers discovered that CBD could selectively eliminate a subset of Gram-negative bacteria that included the Neisseria gonorrhea pathogen.

Mark Blaskovich, an associate professor at the university, stated that through a partnership with Botanix Pharmaceuticals, which provided expertise on different formulations, the researchers showed how CBD could penetrate and eliminate various bacteria.

Blaskovich explained that this was the first time a study evaluating how cannabidiol could eliminate certain types of Gram-negative bacteria had been conducted. He continued, stating that the bacteria possessed an additional outer membrane, like an extra line of defense, which made it all the more difficult for antibiotics to infiltrate them.

Blaskovich then mentioned that the researchers hypothesized that CBD eliminated the bacteria by piercing through the outer cell membranes. However, the researchers weren’t sure exactly how CBD did so, citing that they need to conduct further research. He added that cannabidiol had demonstrated a low propensity to create resistance in bacteria.

In addition to this, the researchers also found that the effectiveness of the molecular structure of cannabidiol only changed slightly. Blaskovich noted that this was exciting because it has been decades — since the 1960s — since antibiotics of new molecular classes for Gram-negative infections had been found and approved. Now, he said, researchers could consider developing new cannabidiol analogs in improved properties.

Botanix executive chairman and president Vince Ippolito mentioned in the same statement that the published research demonstrated that synthetic cannabinoids had huge potential as antimicrobials. He then announced that the company was ready to commercialize usable antimicrobial treatments, which he hoped would be accessible to more patients in the future; he noted that the partnership with the university had enabled the company to begin clinical trials on a topical cannabidiol formulation.

Ippolito also added that the clinical results of phase 2a were expected soon, and he hoped that this would open the way for treatments for legionnaires’ disease, meningitis and gonorrhea.

Meanwhile, CBD products have been facing a number of challenges, such as limited shelf life, low bioavailability and poor water solubility. CannAssist International Corp. (OTCQB: CNSC) says it has made improvements regarding those challenges through its line of Xceptol brand products.

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CBDNewsBreaks – CBD.market Expects Newcomer Growth in 2021

CBD.market, an education-focused online CBD products store, predicts that 2021 will see substantial growth in the number of newcomers entering the CBD market. An increase in the number of CBD consumers will drive the demand for a wide variety of products and necessitate the need for more online retailers. According to High Yield Insights, many new users discovered the benefits of CBD products in the last six months of 2020. During that time, almost one in four CBD users entered the U.S. market, increasing the number of users by 9 million. In addition to new customers, one-third of established consumers tried at least one new CBD product in the same time frame, further growing the market. “According to our own analytical data, the majority of new users in 2020 were between the ages of 25 and 34 as well as over 65; of these, 51.5% were female and 48.5% males,” said CBD.market CEO and co-founder Alex Malkin. “CBD.market predicts that more retired CBD users will be among newcomers in 2021. The store hopes new users will do extensive product research before selecting an item for purchase.”

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The mission of CBD.market is to educate consumers and make them aware of where to find the best quality CBD products at the most affordable prices. CBD.market provides frequent articles on its website so customers can learn about various aspects of CBD products. CBD.market offers a 30-day, money-back guarantee on all products sold. For more information, visit www.CBD.market/shop.

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CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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CannabisNewsBreaks – Green Hygienics Holdings Inc. (GRYN) Partners with Massive Media, GG Marketing LLC as Part of Strategic 2021 Sales and Marketing Plan

Green Hygienics (OTCQB: GRYN), an innovative, technology-driven enterprise focused on the high-standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids, has engaged Massive Media Inc. and GG Marketing LLC. Green Hygienics will work with Massive Media to refresh the GRYN brand; the partnership will include building a new corporate website. Green Hygienics will work with GG Marketing to establish sales and distribution. These two key partnerships are part of GRYN’s strategic sales and marketing plans for 2021. As part of those plans, the company is working to launch its 2021 sales and marketing initiatives along with multiple e-commerce sites, starting with Sol Valley Ranch, its USDA-certified, organic farm-direct brand. The company is also in the process of using its own bountiful 2020 hemp crop to produce several hot, new products. “A great deal of time, energy and resources went into producing our crop this past season, and it is top quality,” said Green Hygienics CEO Ron Loudon in the press release. “Wholesaling it by the pound makes no sense when five to 10 times the gross revenue from an entire crop can be generated by creating finished product and with direct sales through an e-commerce site and established distribution networks. This is a far more compelling business model that, through time, supported by our ability to consistently cultivate a premium base product, will produce far better returns and lead to greater value for the Company. Additionally, this is a great opportunity for the Company to establish its brands and create its own distribution, which can be built upon year over year, true seed to sale.”

To view the full press release, visit https://cnw.fm/u0xOC

About Green Hygienics Holdings Inc.

Green Hygienics is a California-based, innovative, technology-driven enterprise focused on the high-standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids. The company’s corporate mission is to adhere to the highest standards of operations in consistently delivering safe and premium quality products to consumers as well as to partner with consumer packaged goods (“CPG”) and pharmaceutical companies. GRYN intends to be a leader in compliances and capabilities in the hemp and cannabinoid supply marketplace. Using state-of-the-art technologies, Green Hygienics intends to open a whole new world of novel cannabinoids and targeted biodelivery technologies never before explored, solving the issues of stability, pharmacokinetics, biological tissue penetration and bioavailability. GRYN is building a team of visionary agrotechnology, pharmaceutical, and life scientists working at the intersection of nutraceutical, cosmeceutical and pharmaceutical technologies with a goal to improve lives. For more information about the company, please visit www.GreenhHygienics.com.

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420 with CNW — Why New Jersey Legislators Are Unwilling to Allow Patients to Grow Medical Cannabis

New Jersey legislators are currently in the process of finalizing the details of the state’s marijuana decriminalization and legalization policies. While the S3550 bill has lessened the penalties for individuals found carrying less than six ounces of marijuana, it still forbids any person from having the intent to distribute or the distribution and possession of a controlled and dangerous substance. The bill does not touch on marijuana home-cultivation, which remains criminalized.

This is despite poll data from a Rutgers University 2018 poll, showing that 60% of voters in the state disagreed with a prohibition that forbade residents from cultivating their own marijuana at home.

There are still many gaps in the bill, despite the work that’s been poured into the legislative sessions. Ryan Magee, a marijuana attorney at Riker Danzig Scherer Hyland & Perretti, ascribes this to how much support and time is available to sufficiently address the topic. Magee goes further to state that if at-home growing is ignored this time around, reform may happen in the future.

More than a decade ago, legislators had discussed home cultivation of marijuana while drafting the state’s medical cannabis program. While it wasn’t included in the Compassionate Use for Medical Marijuana Act’s final draft, which was signed by Gov. Jon Corzine, there once had been a home cultivation provision that allowed registered patients to cultivate up to six plants at home without incurring any penalty.

However, opponents had compared New Jersey’s proposed initiative with California’s proposition 215, which allowed medical patients to cultivate marijuana at home. At the time, California was the first state to implement a state-regulated medical cannabis program, a move that garnered widespread criticism.

To avoid this, the sponsors of the bill shifted their decision-making power to the state’s health department. This decision led to the department limiting the amount of usable cannabis a patient could have to an ounce per month. Soon after this, the assembly health committee removed the provision allowing home cultivation from the bill completely.

This came soon after state Sen. Nicholas Scutari supported the pardon of John Jay Wilson, who was a multiple sclerosis patient, to grow his own marijuana.

In addition to Washington, DC, 17 states in the U.S. currently permit at-home marijuana cultivation for individuals aged 21 and above. However, some states have imposed more limitations on which residents can cultivate at home.

For instance, in Arizona and Nevada, residents who are of age are allowed to cultivate marijuana recreationally only if they live no less than 25 miles away from a dispensary. In Missouri, the law dictates that only medical cannabis patients are allowed to cultivate at home, and these cannabis patients must pay a $100 fee.

States such as Massachusetts and Alaska have more progressive measures. Massachusetts allows growing of up to 12 plants if there are two residents of age in the household while Alaska allows any individual who is 21 years and older to grow up to six marijuana plants.

Meanwhile, Canada legalized cannabis several years ago, and its market is reaching maturation. This phase is marked by specialization, and Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) has staked claim to the number-one spot in the cannabis extracts segment, a niche worth nearly $3 billion annually in Canada.

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420 with CNW — North Carolina Cherokee Consider Medical Cannabis Legalization

The past few years have seen a surge in popularity for cannabis, with more than 30 U.S. states legalizing either medical or recreational marijuana. The shift in attitudes toward cannabis hasn’t been confined to just states. The Eastern Band of Cherokee Indians in North Carolina is preparing to explore what medical cannabis legalization would look like on the Qualla Boundary.

As part of a broader legalization effort, the Tribal Council will this month discuss a plan to legalize medical marijuana. Jeremy Wilson, who formerly served on the Tribal Council in addition to working as a government affairs liaison under the main chief, says the world is changing and society is changing with it. Last December, the Tribal Council overwhelmingly supported a resolution instructing a committee to formulate legislation to allow the use of medical cannabis within the Qualla Boundary in the “most responsible, practical, as well as lawful way available.’

That was the first step in the direction of implementing large-scale cannabis reforms on tribal land, says Wilson. Although they want medical cannabis dispensaries up and running as soon as possible, this first phase is crucial. While North Carolina has outlawed marijuana, the state allows industrial hemp and hemp derivatives, such as CBD, and farmers on the Boundary are taking part in the pilot project.

Wilson says that although the Boundary has sovereignty on its side, it is regulating the legalization efforts to keep the market from descending into a “wild-west free-for-all.” The Tribal Council’s first attempt at legalizing marijuana a few years ago did not succeed. According to Wilson, in the three years he has been focused on legalization, the campaign has gained plenty of public support.

People are beginning to look at cannabis differently and can see just what it can do, both medically and economically. Developing a sustainable marijuana industry in North Carolina may also buffer the tribe, which largely relies on the casino, against any losses. With the planned casino called Catawba Nation in development on the outskirts of Charlotte (Kings Mountain), Qualla Boundary may be looking at increased competition and reduced revenue. A thriving cannabis industry could help offset such losses.

On top of beefing up the economy, a cannabis industry will be of great help to patients. Although research is still ongoing, it appears that cannabis can be effective against a variety of conditions such as chronic pain and addiction to opioids. Ultimately, the tribe’s goal is to craft a regulatory framework that allows it to provide medical cannabis to those who need it along with earning reasonable revenue.

In other news, RYAH Group Inc. is putting the final touches to its upcoming listing on the CSE (Canadian Stock Exchange). This company has a rich portfolio of products, including the RYAH Smart Inhaler, the first-of-a-kind dry-herb inhaler that makes it possible for patients taking medical marijuana to determine exactly how much cannabis they are consuming.

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420 with CNW — Democratic Senate Leaders Publicize Plan to Legalize Cannabis Federally in 2021

Earlier this week, three leading advocates of cannabis reform stated that reform would be a priority in the new Democratic Senate in 2021, adding that they planned to release draft bills in the coming weeks to start a conversation about what federal policy changes would be made.

In a joint statement, Sen. Cory Booker, Senate Committee Chairman Ron Wyden and Senate Majority Leader Chuck Schumer stated that putting an end to marijuana prohibition was necessary in order to end years of harm inflicted on people and communities of color across the nation as well as right the wrongs of the failed war on drugs; the trio noted that this still wouldn’t be enough.

Each of the legislators have championed federal legalization, stating that lawmakers should approve measures that will uplift individuals who have been unfairly targeted by the drug war, particularly now, as more states are moving toward legalizing the medicinal plant.

The legislators stated that they were committed to working together to present and advance broad marijuana reform laws that would not only abolish the destructive consequences of these discriminatory policies but also help move on from this sad part of American history. They added that the Senate would give precedence to the conversation on these reforms.

The senators stated that they planned on releasing a united discussion draft on broad reform to implement responsible regulations and taxes, protect public health and establish restorative justice measures.

Last year, a bill introduced to the House to deschedule marijuana federally was cleared. However, it did not advance to the Republican-controlled Senate. Democratic legislators emphasized that Democrats being the majority in the chamber is vital for any broad reform to be approved this year.

NORML Political Director Justin Strekal stated that after years of Senate Minority Leader Mitch McConnell mocking and neglecting cannabis policy reform, it was encouraging to see Senate leaders coming together to rescind the cruel and senseless policy of cannabis prohibition.

Strekal added that legislators looked forward to engaging with communities that had been the most affected historically by criminalization, other organizations and Congressional leaders, with the aim of ensuring that the most comprehensive and strongest bill is drafted — a bill that would make it possible to right the wrongdoings of almost a century of federal marijuana prohibition.

In a press release, Rep. Earl Blumenauer stated that he was encouraged to see that the new majority in the Senate was prepared to make headway on broad marijuana legislation. Blumenauer, who is the co-chair of the Congressional Cannabis Caucus, has spent decades working to put an end to cannabis prohibition.

Meanwhile, in jurisdictions where cannabis is already legal, different companies are introducing a variety of innovative products aimed at addressing the needs of the public. For example, L.A.-based Grapefruit USA Inc. (OTCQB: GPFT) has a proprietary cannabis time-release system that helps patients benefit from their cannabis medicines delivered topically.

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420 with CNW — Colorado Premium Cannabis Flower Causes Prices to Soar to Record Highs

For Colorado’s cannabis industry, 2020 was a boom year. While other sectors saw their operations severely cut down amid lockdown and self-distancing orders, Colorado categorized cannabis as essential, allowing marijuana businesses to continue selling with coronavirus-related measures in place. Even before transactions for November had been tallied, the state had hit $2 billion in medical and recreational cannabis sales.

These record-breaking sales can partly be attributed to record high, wholesale, cannabis-bud (flower) prices that in 2020 increased to levels unseen since 2016. According to the Colorado Department of Revenue, the average market price by wholesalers for a pound of marijuana flower reached $1,721 as of Jan. 1, a price last seen in July 2016. This hike in price has been fueled by increased demand for cannabis amid the coronavirus pandemic coupled with heightening consumer interest in costlier premium flower brands.

Prices for wholesale cannabis bud prices have increased by at least 30% since October, a welcome change for cannabis growers that were looking at an average price of $700 per pound just two years ago. As such, the increase in price has trickled down to manufacturers, retailers and consumers. And while one might think more expensive prices would turn consumers off, they have actually been gravitating towards these pricier, premium products.

Zachary York, inventory manager for Lightshade, a Denver-based vertically integrated cannabis company, says people have no problem paying more for higher-quality products. At the start of the pandemic, cannabis saw a hike in demand as consumers stocked up for the impending lockdown. Most of them went for lower-quality budget flower first, eventually working up to the higher-quality, pricier cannabis products. According to York, customers who sampled high-quality flower aren’t thinking of going back.

Several other cannabis executives concur, saying that consumers are willing to pay more for small-batch, premium flower brands such as Snaxland and Cookies. Knowing this, wholesalers have been able to command higher prices without much pushback from the rest of the supply chain or customers. With the growth in popularity of branded marijuana flower, certain wholesalers have been able to sell a pound of cannabis for as much as $4,000, York observed.

Tim Cullen, the CEO of Colorado Harvest CO, a vertically integrated marijuana operator based in Denver, says branded flower companies are increasing demand for top-shelf cannabis flower. They use advanced marketing techniques, are easy to recognize, and have devoted social-media followers.

Joe Spadafora, a partner and the head of marketing at Denver-based Veritas Fine Cannabis, attributes these new buying behaviors to the evolution in the tastes of consumers. “It reflects the market through its evolution,” he notes.

Outside of Colorado, California-based Green Hygienics Holdings Inc. (OTCQB: GRYN) is using cutting-edge technologies to develop products from novel cannabinoids as well as revolutionary cannabis delivery systems.

NOTE TO INVESTORS: The latest news and updates relating to Green Hygienics Holdings Inc. (OTCQB: GRYN) are available in the company’s newsroom at http://cnw.fm/GRYN

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