420 with CNW – Michigan Caregivers Grow More than a Million Marijuana Plants

The registered medical marijuana caregivers in Michigan are authorized to grow more than a million cannabis plants, according to state statistics. This information is crucial as the state transitions from a purely medical cannabis program to one that embraces the recreational use of the drug by adults.

Even if the state accelerates the process by which new commercial growers are licensed, it is unlikely that any of those licensees will have harvested, processed and distributed their marijuana crop at the time recreational sales are launched.

In August 2017, Andrew Brisbo, the Director of the Bureau of Medical Marijuana Regulation stated that approximately 43,000 patients had nominated a caregiver to grow a maximum of 12 cannabis plants for the medical use of the patient.

That statistic means that approximately 1.14 million marijuana plants are under the direct control of the registered caregivers in the state.

Currently, the number of caregivers on the medical marijuana program has risen to an estimated 47,000. This could mean that nearly 1.5 million cannabis plants are grown by these caregivers.

To put this figure in context, the 78 commercial cultivators with state-issued licenses have a 108,000 plant cultivation limit.

All the existing large scale growers and the caregivers currently supply the medical marijuana market whose current patient population stands at 300,000 (Michigan has the second strongest medical marijuana market in the country).

If recreational users come on board, the number of medical marijuana patients will be dwarfed by the number of adults who use cannabis recreationally. Statistics suggest that at least 1.54 million Michigan adults have used recreational marijuana at some point in their lives, so once recreational sales begin, the number of recreational users is likely to be five times that of medical marijuana users.

This means that Michigan could face the same supply shortages that have been witnessed in the states that transition from just medical marijuana markets to recreational cannabis as well. Such supply shortages normally trigger a frenzied expansion of cultivation capacity, which in turn causes a glut once all that extra marijuana finally enters the market.

To prevent the nosedive in prices which results from the glut, Michigan would be well advised to incorporate the caregiver-grown marijuana in the recreational market as well so that the recreational market is kept stable during its first months. This shouldn’t present any quality issues since the caregivers have been supplying the medical cannabis market of the state for years.

Analysts hope that the cannabis industry’s major players in Michigan and elsewhere, such as Youngevity International Inc. (NASDAQ: YGYI) and Willow Biosciences Corp. (CSE: WLLW), will welcome the caregivers whose role provides all-round benefits to all concerned.

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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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420 with CNW – Study Looks at How Marijuana Extracts Can Kill Cancer Cells

A recent study shows that cannabis extracts can impair the survival of some types of cancer cells and also inhibit their spread. However, the effects of the cannabis extracts vary according to the chemical profile of the extracts used, the researchers discovered.

The team of researchers found that the results of using just one compound of cannabis, such as THC, to kill cancer cells wasn’t as promising as using full-spectrum cannabis extracts. Since marijuana has hundreds of compounds whose concentration varies from one preparation or marijuana strain to another, it was difficult to determine which particular combination of compounds had the most significant therapeutic effect.

The team, whose findings were published in Oncotarget, a journal centered on cancer research, show that 12 cannabis extracts having varying phytocannabinoid profiles were tested on 12 different human cancer lines.

Each of the 12 cancer cell samples was treated using increasing doses of different marijuana extracts over a 24-hour duration. Of the 12 cannabis extracts, five were especially effective in acting on a variety of cancer types. Nevertheless, the researchers found that different cancers seemed to respond to different marijuana extracts even if those cancers originated from the same body organ.

For example, two forms of prostate cancer cells were most responsive to different cannabis extract formulations and yet it would be expected that the same formulation would work for these two cancers since they all affect the prostate gland.

The marijuana extracts also exhibited different levels of effectiveness in terms of shrinking cancer cells. Out of the 12 preparations, only three were able to shrink cells by up to 51 percent of their baseline (original) size.

Some of the common attributes shared by the extracts which showed higher levels of effectiveness included their higher concentration of THC and the larger variety of phytocannabinoids which have been decarboxylated.

The researchers concluded that the therapeutic action of marijuana extracts on cancer cells cannot be attributed to a single compound, but rather to the synergy of different compounds acting together.

They also added that the fact that cancers from the same line react differently to cannabis extracts means that other compounds, apart from THC, work together to produce a pharmacological effect upon the cancer cells.

The team of researchers therefore called for more research to be done about the way cancer cells respond to cannabis. For example, more information is needed regarding the effect of the presence or absence of cannabis receptors on cancer cells when treating those cancers using marijuana extracts.

Marijuana industry pundits think that industry participants like Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) and VPR Brands LP (OTC: VPRB), will feel vindicated that the industry’s assertion regarding the therapeutic effects of marijuana is starting to be proved by independent researchers.

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420 with CNW – Thousands Submit Comments Urging FDA to Allow CBD in Supplements and Foods

The U.S. Food and Drug Administration (FDA) started receiving comments on CBD regulation from the public and other stakeholders in April and the comments period came to an end early last week.

The agency had initially planned to close the comments period on July 2 but the overwhelming public interest in the matter led the FDA to extent that deadline to July 16. By the close of the comments period, more than 4,400 submissions had been filed by individuals and organization.

The comments received covered everything imaginable about the therapeutic effects of CBD, how the compound should be tested, packaged and marketed, as well as matters of consumer protection and law enforcement.

There were hundreds of comments from individuals who claimed that CBD had helped them to deal with the symptoms of different health challenges, such as pain and anxiety. Other people claimed that they were able to wean themselves off of other drugs that had serious side effects by using CBD.

Several health associations and medical professionals submitted comments to the effect that the agency should regulate CBD as a health supplement as long as strict labeling and quality standards are set for manufacturers.

The Dravet Syndrome Foundation submitted a comment urging the FDA to formulate regulations that standardize the labeling of CBD supplements on matters of concentration, stability and the ingredients in the products since Dravet syndrome sufferers have been turning to these products after failing to get relief from the existing remedies.

A group of 37 state attorneys general also wrote to the FDA asking the agency to formulate rules that would protect consumers by requiring manufacturers to provide accurate information about the risks and potential benefits of CBD products. This would enable consumers to make an informed decision about the CBD products they use.

The Center for Science in the Public Interest (CSPI) submitted their comment requesting the FDA to design a program through which the state laws on CBD and other related products could be gradually aligned with the federal regulations on these products. By bringing uniformity to the CBD rules across different jurisdictions, the FDA will have taken a significant step towards safeguarding consumers from adulterated, mislabeled and contaminated CBD products, CSPI added.

The National Association of State Departments of Agriculture (NASDA) called on the FDA to work closely with them in order to find ways to regulate the industry without stifling its growth.

The FDA will use these comments, along with any other input it receives from other fora, such as a planned hemp conference next month, while formulating the draft rules for the hemp industry which are slated to be released in August.

Marijuana industry analysts believe that players like VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8), will be eager to see what rules are finally released since CBD products could be an additional moneymaker for these entities.

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420 with CNW – More than 100 Cannabis Businesses Ask Congress to Consider Social Equity During Legalization

A coalition of more than a hundred cannabis companies and industry groups has sent a letter to Congress urging lawmakers to include social equity in any legislation that is proposed as a way of ending marijuana prohibition.

The letter, sent on Thursday last week, asserts that the work of Congress will be incomplete if they only stopped at legalizing marijuana without going further to address issues of social equity.

More specifically, the groups and associations that signed this letter express concern that the people who were worst affected by the War on Drugs are likely to be left behind as the marijuana industry takes off because those individuals who have a past conviction for marijuana-related charges are explicitly barred from participating in the legal marijuana industry in the states where marijuana is legal. These individuals are also unable to raise the capital needed to participate meaningfully in what the signees called “the new green rush.”

The letter states that in 2018, the sale of recreational and medical marijuana in the states that approved marijuana generated $10.4 billion, and $1.2 billion went to state governments in the form of taxes. Additionally, more than 200,000 people have jobs in the legal cannabis industry, but a significant proportion of people from the communities which were disproportionately affected by the prohibitionist laws are staying behind due to the constraints they face.

The coalition proposes a number of suggestions that Congress can consider in order to right the wrongs done during the War on Drugs.

For example, the letter suggests that in addition to descheduling marijuana at the federal level, Congress should pass a law allowing banks to service cannabis businesses without any fear of federal action against them.

The coalition also recommends that Congress should appropriate funds towards a social equity program so that the individuals and communities who suffered the most during prohibition can be facilitated or supported to take part in the legal cannabis industry across the country.

Another recommendation is that the criminal records of people on charges related to marijuana should be expunged so that those people no longer suffer the collateral consequences of those convictions.

4Front Ventures led the effort to write this letter. Other signees included Marijuana Policy Project, Michigan Cannabis Industry Association, MJ Freeway, Minority Cannabis Business Association, Americans for Safe Access, National Cannabis Industry Association (NCIA), and Berkeley Patients Group, among others.

This letter comes soon after another coalition of drug reform and civil rights groups also wrote to Congress making suggestions regarding how marijuana justice could be realized in any law that is passed to end cannabis prohibition.

Pundits believe that the marijuana industry, including companies like Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) and The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF), will be hoping that Congress uses the recommendations made by the different groups that have written to it when debating a comprehensive marijuana policy reform law.

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420 with CNW – Second Marijuana Home Delivery Lawsuit Filed in California

East of Eden Cannabis Company, a state-licensed marijuana company in California, has filed a lawsuit against Santa Cruz County accusing the local government for violating the rights granted to the company by the state government.

The company asserts that the state law allowing companies to deliver marijuana to any part of the state, including areas that opted out of hosting marijuana businesses, is being trampled upon by the enforcement of the rules passed by the authorities in Santa Cruz banning the delivery of marijuana into their jurisdictions.

This lawsuit is the second on the controversy surrounding who should have the upper hand in determining where legal marijuana can be distributed within the state of California.

In its court papers filed with the Superior Court in Santa Cruz, the marijuana company argues that the county has threatened to initiate a criminal investigation against East of Eden and also seek to have its state license revoked for making marijuana deliveries in areas that don’t permit marijuana within their jurisdictions.

The company therefore requests the court to give it permission to resume making cannabis deliveries and also declare the rules of Santa Cruz on the matter as “void and unenforceable.”

In January this year, marijuana industry regulators in the state okayed a rule that would permit licensed marijuana companies to start making cannabis deliveries anywhere in the state, including in jurisdictions that had passed ordinances banning marijuana businesses.

This new rule drew the wrath of anti-cannabis groups who said that the state was reversing the promise made by the voter measure which stated that local authorities would have the liberty to either accept or ban marijuana companies from operating within their jurisdictions.

Police chiefs and the League of California Cities have voiced concerns that unrestricted home deliveries of marijuana pose a risk that a lot of marijuana transactions will go unreported and pave way for the black market to thrive.

Santa Cruz County, Beverly Hills and close to twenty other local authorities took the added step of suing the state government and marijuana regulators in order to have the home delivery rule reversed.

The conflict between the state and local the authorities has prevented the marijuana industry from reaching its full potential in the largest (so far) single cannabis market across the world. Industry watchers believe that the entire cannabis industry, including participants like The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) and Sugarmade Inc. (OTCQB: SGMD), will be following these legal battles closely because the decision of the courts could change the trajectory of the industry in all the states where marijuana is legal.

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420 with CNW – Utah Picks Eight Applicants for Medical Marijuana Cultivation Licenses

The Department of Agriculture and Food in Utah has announced that it has selected eight applicants who will receive medical marijuana cultivation licenses as the state marches towards the implementation of a decision that voters approved during the elections last year but legislators later modified the ballot measure in what was called a compromise law.

The selected medical marijuana cultivation license applicants are Dragonfly Greenhouse, Oakbridge Greenhouses, Harvest of Utah, Standard Wellness Utah, Tryke Companies Utah, True North of Utah, Wholesome Ag, and Zion Cultivars.

The government’s statement unveiling the eight companies revealed that four of those eight companies have been operating in the state (conducting other business) while the other four had ties to Utah even if they were from outside the state.

In accordance with federal law, all the cultivation facilities will be located within Utah and all but one of the licensees will locate their grow facility in a rural part of the state.

The Department of Agriculture and Food spent hundreds of hours scrutinizing the 81 applicants who had expressed interest in growing medical marijuana in the state. The decision to select only eight growers, instead of the ten allowed by law, was made in order to avert a situation in which the supply of medical marijuana products would exceed the demand for those products. The eight growers were sufficient to create healthy competition and variety in the product offerings.

The chosen growers now have to undergo background checks before they are awarded the licenses.

Among other requirements, the application process required interested companies to have at least $250,000 to cover any issues that could arise while the company was growing medical marijuana in the state.

The licensed companies will be tasked with meeting the medical marijuana demand of approximately 42,000 patients that may enroll on the medical marijuana program during its first four years of existence. This number was arrived at after the University of Utah conducted a study to estimate the likely beneficiaries of the program.

Under Utah law, the cultivators who choose to grow marijuana indoors will be restricted to a maximum of 100,000 square feet of grow space while those who opt to grow the crop outdoors will be allowed to use a maximum of four acres. Depending on the spacing used, an acre can accommodate anywhere from 1,500 to 3,000 cannabis plants.

The law passed by legislators just days after the provisions of the ballot measure approved by voters took effect in December 2018 removed the permission that had been given to certain categories of patients to grow a maximum of six plants.

Under Prop 2, people living beyond a defined minimum distance from a medical marijuana dispensary would be permitted to grow their own medical marijuana. This provision was vehemently opposed by different groups, such as law enforcement, and it was removed by a law passed during a special session of the legislature.

Now that cultivators have been selected, industry analysts believe that the entire industry, including players like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and SinglePoint Inc. (OTCQB: SING), will be pleased that qualified patients could soon be able to treat their ailments using medical marijuana.

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420 with CNW – New Data Reveals Cannabis Legalization Increases Rates of Snacking

New data released by Nielsen shows that people who live in states where marijuana is legal snack more than their counterparts in states with prohibitionist laws. The uptick in the sales of snacks was noticed for sweet and well as salty snacks.

This study suggests that legalizing recreational marijuana can create a boom for the confectionary and snack segments of the food and beverage industry in the U.S.

While snacks sales saw a modest 6 percent increase in states where marijuana is still prohibited for recreational use, states that tolerate adult-use marijuana registered an increase of 7.2 percent in the sale of snacks.

In total, candy sales generated approximately $6.5 billion during the period under review. For this item alone, an increase of 2 percent was observed in states with legal recreational marijuana while those without these laws saw a modest 1.3 increase in the sale of candy.

It appears that salty snacks are the preferred option for cannabis users who get the munchies because the states where adult-use marijuana is legal generated $30 billion from the sale of salty snacks alone.

Nielson used this data to assert that no other single factor was responsible for the difference in the sales of snacks in the states where recreational cannabis is legal.

This claim may be credible because there is ample anecdotal and scientific evidence proving that consuming marijuana boosts one’s appetite and enjoyment of food. The data collected by the census divisions of the U.S. federal government also points to the fact that people get the munchies in states where recreational-use marijuana has been legalized.

Currently, 11 states and Washington, D.C. have legalized recreational cannabis while more than half of the union has given the nod to medical marijuana. Each round of elections now appears to bring more states on board either for recreational or medical marijuana, so the entire country could soon have legal marijuana in some form.

However, the federal government still maintains cannabis as a Schedule I drug although recent events, such as the congressional subcommittee hearing on how to end prohibition may suggest that the federal government could soon revise its position on marijuana.

Analysts posit that players in the cannabis industry, such as Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Organigram Holdings Inc. (TSX.V: OGI) (NASDAQ: OGI), will not regard the findings of this study as anything new since the industry has known for long that cannabis has a positive effect on those with poor appetite.

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420 with CNW – Michigan Names 19 Communities to Benefit from Marijuana Social Equity Program

Michigan has unveiled the details of the communities that will benefit from the marijuana Social Equity Program of the state. The MRA (Marijuana Regulatory Authority) made this announcement while releasing the list of 19 communities and the different ways in which applicants from those communities will benefit.

The 19 disadvantaged communities are Detroit, Benton Harbor, East Lansing, Albion, Flint, Ecorse, Hamtramck, Highland Park, Inkster, Kalamazoo, Mt. Pleasant, Mt. Morris, Muskegon Heights, Muskegon, Niles, Pontiac, Saginaw, River Rouge and Ypsilanti.

During an exercise that lasted several months, the Marijuana Regulatory Authority put 150 stakeholders in workgroups and solicited input from them on how to select the disadvantaged communities that will benefit from the Social Equity Program, how qualifying individuals from those selected communities will be identified and what services or support should be provided to those selected individuals in the disproportionately affected communities identified. An online survey was also conducted seeking input on those same matters and 688 people responded to the survey.

From the results received, the MRA decided that disadvantaged communities would be selected based the number of marijuana-related convictions and the rate of poverty in those communities.

Taking the state’s marijuana conviction rate as a benchmark, counties that exceeded that state-level rate were identified for inclusion in the Social Equity Program.

From that group of counties, specific communities in which at least 30 percent of the population lived below the poverty level as defined by the federal government were selected.

MRA plans to start receiving applications from those intending to start marijuana businesses on Nov. 1 this year. Before that date, the authority will visit the 19 selected communities several times to educate the targeted population about the application and licensing process in relation to the Social Equity Program.

The representatives of MRA’s Social Equity Program will also help people from those communities to fill applications for participation in the Social Equity Program. These applications will then be scrutinized to confirm that those individuals qualify to benefit from the program.

The people who qualify stand to enjoy up to 60 percent reductions on the applicable fees for a marijuana business license.

For example, being a resident of one of the 19 listed communities for at least five years will earn the qualifying applicant a 25 percent waiver on the payable fees.

An additional 25 percent waiver will also be given to those who are the majority shareholders in the planned marijuana business which will be located within the disadvantaged community. The individual holding the majority ownership stake must also have a cannabis-related conviction in order to qualify for this additional 25 percent fee waiver.

A further 10 percent waiver will also be given to the Social Equity Program applicants who have also served as registered caregivers for at least two years in the period 2008-2017.

The members of the 19 communities will also get help in addressing all the issues related to running a marijuana business in the state. These include tax matters, employment law, workplace safety and health, environmental issues among others. Applicants will also be linked to other state departments and agencies whose services are pertinent to the marijuana industry.

The Social Equity Program appears to be a well thought-out plan that analysts believe will please cannabis industry players like Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) (FRA: 71P) and MustGrow Biologics Corp. (CSE: MGRO) that insist action must be taken to correct the wrongs committed during the war on drugs.

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420 with CNW – Study Finds Legalized Recreational Cannabis a Danger to Alcohol, Not Tobacco

The recent wave of adult-use marijuana legalization across the U.S. has the potential of generating $22 billion in annual sales, but not everyone is thrilled about this development. New research that will soon be published in the Marketing Science journal shows that the alcohol industry is likely to take a hit once marijuana is legalized.

The research was done by Pengyuan, an assistant professor at the Terry College of Business (University of Georgia). He worked with Guiyang Xiong from Syracuse University.

The duo analyzed online search data taken from one of the leading web portals based in the U.S. In total, they crunched the numbers on 120 million ad impressions and 28 million anonymous searches done using this portal. The data in question covered the period January 2014 to April 2017.

The research revealed that the number of online searches done for alcohol reduced by almost 11 percent while the searches for tobacco and its products saw an increase of 8 percent.

The tobacco and alcohol industries are worth a total of $300 billion in the U.S. alone. While these two industries have been vehemently opposed to the legalization of cannabis, this research shows that the tobacco industry would be well advised to revisit their opposition to legal marijuana since opposing the advance of cannabis isn’t in their best interest.

However, the alcohol industry is justified (from an existential point of view) to oppose the onward march of legal marijuana across the country since a law legalizing marijuana at the federal level would see a major decline in the sales of alcohol. The industry therefore has to think fast and come up with ways to retain their customers if they want to retain as much of their market share as possible.

Interestingly, while this research revealed that the legalization of adult-use marijuana in a state causes 17 percent more adults to conduct online searches on marijuana, the number of people who are less than 19 show a reduced interest in marijuana (or at least they perform fewer online searches on the substance).

This again serves to dispel another perception that the legalization of recreational cannabis causes a spike in the interest shown in the substance by minors. Policymakers may therefore need to revisit their positions if they based any decisions they made upon a presumption that there will be an uptick in the number of people who show interest in the drug yet they aren’t of age.

These findings seem to make sense because pollsters have pointed out severally that many adults would opt for recreational marijuana rather than alcohol since pot doesn’t come with hangovers, weight gain and the other effects of consuming alcohol on a regular basis.

It would be interesting to know what industry players like Marijuana Company of America Inc. (OTCQB: MCOA) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) are planning to do in response to the likely spike in the opposition of the alcohol industry once the findings of this research are released and the fears of the alcohol industry are confirmed.

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420 with CNW – Cannabis Sales Could Soon Surpass Wine Sales, New Data Reveals

If the current trend of cannabis sales during the Fourth of July holiday continue, marijuana could outsell wine as soon as July 4 next year, according to new data collected on different staples during Independence Day celebrations.

The week in which this year’s Independence Day fell saw a record $400 million worth of cannabis sold by dispensaries across the country. Statistics show that this figure is 60 percent above the national average of the marijuana sales made during any typical week of the year.

The data collected and analyzed by Akerna Corp shows that every single day leading to July 4 registered a spike in the volume of marijuana sales when compared to typical days across the country.

For example, on July 1, there was a 45 percent increase in the sales registered by marijuana dispensaries when compared to the available data on typical Mondays. While this jump is sizable, it was the least sales bump in the days leading to the national holiday.

On Wednesday (July 3), marijuana dispensaries registered sales which were more than twice what they usually sell on any average Wednesday. In fact, the increase was 112 percent when compared to sales on ordinary Wednesdays in the year.

Bumps were also noticed in the average amount that each person spent at a cannabis dispensary during the days leading up to the Fourth of July. Similar bumps were also noticed regarding the number of products bought per person on those days.

To put these marijuana sales in context, Green Entrepreneur compared the $400 million generated from marijuana sales to other staples sold on such days. Americans spent $1billion on beer and another billion on fireworks on Fourth of July last year. Wine generated total sales worth $568 million on the same day last year.

If these growth rates stay the same, it is highly likely that marijuana sales on Independence Day will exceed those of wine next year.

These figures and predictions seem all the more credible given the fact that the number of Americans who believe that marijuana should be legalized federally is at an all-time high. Additionally, more states are legalizing marijuana for medical and recreational purposes, with Illinois being the latest to enact an adult-use marijuana legalization law.

Industry watchers believe that this boom in cannabis sales will give industry players like Hemptown USA and Green Hygienics Holdings Inc. (OTCQB: GRYN) added impetus to take bolder steps towards consolidating their positions in the industry.

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