420 with CNW – Why Suppositories will be Big in the Medical Marijuana Industry

Many people may feel rather squeamish about sticking a cannabis suppository up their backside, but this method of administration is beginning to attract widespread attention as a way to administer medical cannabis. Several reasons can explain their growing popularity.

Better Absorption Rates

The most common ways to take medical cannabis are by eating or smoking the substance. However, these two methods of administration don’t allow enough of the cannabis consumed to be absorbed into the bloodstream.

For example, the acidic environment inside the stomach and the entire gastrointestinal tract destroys most of the therapeutic ingredients in cannabis before those compounds have a chance to enter the bloodstream and do their work.

Smoking also comes with its own risks of damage to the lining of the lungs, among other dangers. Furthermore, not enough cannabis can be absorbed through the lungs since some is exhaled along with the air one breathes.

However, the lining of the rectum provides an excellent medium through which cannabis can be absorbed into the bloodstream. Consequently, a patient will not need to use a large dose in order to get the desired effects.

It’s Ideal for Seriously Ill People

Some patients, such as cancer patients, are in such a bad state that it is nearly impossible for them to smoke or consume cannabis edibles. How can such people get medical cannabis into their bloodstream?

Cannabis suppositories are an excellent option in such situations. Remember, all lists of conditions for which one can access medical cannabis include chronic or debilitating illnesses. No wonder doctors are increasingly recommending that patients use marijuana suppositories.

They Have a Track Record

Suppositories aren’t a new invention. They have been used in conventional medicine for decades. These items are therefore getting a new lease of life by being used in the medical cannabis industry.

Additionally, it is possible to standardize the dosing of cannabis products if patients are going to use suppositories. This is much better than telling someone to smoke “a thick wad of cannabis when the tremors start.”

Such standardization can go a long way in removing the stigma that has sometimes been directed at cannabis as something for reckless people who have nothing to do except getting high.

Less THC Is Absorbed in This Way

Another key advantage of cannabis suppositories is that they are likely to silence the critics who say that patients are using medical cannabis in order to get high.

Research has it that THC (the psychoactive element in cannabis) isn’t as readily absorbed into the bloodstream through the rectum, unlike CBD that is readily absorbed. Thus, there is a lower risk that patients will get addicted to cannabis while taking it anally.

As you can see, cannabis suppositories seem poised to stake their claim in the medical cannabis sector. The cannabis industry, including SinglePoint Inc. (OTCQB: SING) and Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4), welcomes all avenues through which patients can get relief from their conditions.

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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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420 with CNW – UC Berkley Launches Cannabis Research Center

The University of California at Berkley has announced that it has opened a cannabis research center that will study the effects of cannabis production upon society and the environment. This announcement was made on Tuesday this week (January 29).

UC officials also revealed that the research center will primarily focus on three major areas.

The first is cannabis regulation and policy. Cannabis regulations and policies have been evolving rapidly and they merit research in order to ascertain whether those policies and regulations have made the industry better, whether the policymakers had sufficient information upon which they based when drafting the regulations and policies, etc.

The research center will also study how cannabis production affects the environment. For example, what effects do cannabis plants have on groundwater? Is it better (for the environment) to grow cannabis in indoor facilities or outdoor grows are better? How can the adverse environmental impacts (if any) of cannabis production be mitigated? Such, and other issues will occupy the researchers who will devote their time and resources to looking into the environmental effects of cannabis production.

The third major area of research will be the impact of cannabis production on society. Already, some lawsuits have been filed against cannabis grow facilities in some neighborhoods while some local authorities have enacted ordinances that ban any marijuana-related activities in their jurisdictions. At the same time, many communities are clamoring to have cannabis production facilities in their areas in order to reap the economic benefits that such developments bring. So, the responses to cannabis production span the entire gamut of what anyone can imagine as a potential reaction to this controversial plant. The researchers will look into all these societal effects and provide scientific data to inform the decision-making process.

Ted Grantham and Van Butsic, both faculty members in UC Berkley’s Department of Policy and Management, and Environmental Sciences will head the interdisciplinary team at the research center.

The direction taken by the research center at UC Berkley is unique because so far, other researchers have devoted their resources to studying how cannabis affects people (the positive and negative) at the level of an individual. Grantham and his team want to broaden the lens and look at the bigger picture. This approach is a welcome development for the cannabis industry, including Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF), because it will provide deeper insights into the broader aspects of the industry.

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420 with CNW – Craft Medical Cannabis Growers Form Co-op in British Columbia

Small medical cannabis growers and producers in the Canadian province of British Columbia are coming together to form a co-op in order to bridge the supply gap. This co-op venture will be incorporated at the provincial level instead of seeking national incorporation.

This undertaking involves a partnership with Victory Square Technologies and Grow Tech Labs. The supply shortages that have plagued the Canadian recreational cannabis market prompted the initiators of this co-op to take action.

The company will be called the British Columbia Small Cannabis Producer and Processor Co-op. This is intended to reflect the character of the province as a leader in the cannabis industry both nationally and internationally.

Barinder Rasode, the CEO of this new company, revealed during its launch that the entire province and the cannabis industry will benefit greatly if small producers and processors come together to continue making a contribution in the industry.

Rasode added that once these small players combine their capacity, they have the potential to become a formidable player in the cannabis industry not just in Canada but globally.

The new company is calling on small producers to send them an email expressing interest to join this new group and to get additional information about this new entity.

The co-founder and CEO of Victory Square Technologies (Shafin Diamond) remarked that he was excited to see that micro-growers of medical cannabis were coming forward to take part in the co-operative.

It is not clear whether the desire to combine forces wasn’t driven by a survival instinct. As the cannabis industry has grown, large scale operations have increasingly taken an upper hand due to their economies of scale that lower the cost of producing each unit of cannabis.

While production costs are being driven downwards, the cannabis market hasn’t sufficiently segmented (as yet) in order to sustain the niche growers and producers. Consequently, the small growers and producers may have felt some pressure on their profit margins as the large producers brought more products to the market at lower rates.

This pressure could be the reason why the initiators of the co-op decided that they should either combine forces or fold. Such a factor may explain why Grow Tech Labs and Victory Square Technologies were brought on board to provide a way to standardize the products from the small growers and producers.

If that is the case, then that is a positive step forward since the entire industry, including Net Element (NASDAQ: NETE) and Medical Cannabis Payment Solutions (OTC: REFG), would want every entity that can chip in to do so in order to nurture this nascent industry.

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420 with CNW – What is CBD, and what is its Relationship with THC?

People who have heard about CBD-infused drinks, cosmetics and pet food may be wondering why that cannabis extract isn’t attracting as much polarized attention as THC. Read on and learn everything that you need to know about CBD and THC, and why CBD is gaining in popularity in nearly every industry.

A Brief Primer on Cannabinoids…

The cannabis plant has more than 100 different compounds within it. These are called cannabinoids and terpenes, so you should therefore not imagine that the cannabis plant has only two compounds. However, two of the most abundant cannabinoids in the cannabis plant are CBD (cannabidiol) and THC (tetrahydrocannabinol).

THC is the psychoactive cannabinoid that makes cannabis consumers “high” while CBD isn’t psychoactive.

Marijuana vs. Hemp?

Cannabis is a general term used to refer to a family of plants that have similar compounds (cannabinoids). Marijuana and hemp are therefore members of the same family.

However, hemp has a very small amount of THC in it. The U.S. federal government describes a given plant in the cannabis family as hemp if that plant has less than 0.3 percent concentration of THC. By the same token, marijuana is the other member of the cannabis family that has THC levels that are higher than the threshold for the hemp plant.

Remember, “hemp” and “marijuana” are arbitrary terms given to the same plant only that the level of THC determines which of those two words you will use to refer to the plant you are looking at.

Why is CBD Readily Available Yet Marijuana is Illegal?

As already mentioned, CBD is one of the non-psychoactive compounds found in the cannabis plant. This cannabinoid has several medicinal properties, such as anxiety, pain and insomnia relief.

Recently, President Trump signed into law the Farm Bill of 2018 and this law changed the legal status of hemp to an agricultural product (just like soy, corn or any other plant). Consequently, extracting CBD oil from hemp doesn’t break any U.S. law.

In contrast, marijuana is a Schedule 1 controlled substance that is illegal at the federal level. However, dozens of states have legalized medical marijuana and nearly a dozen have legalized adult-use marijuana.

The laws and attitudes surrounding marijuana haven’t affected the reputation of CBD and that is why it is widely available.

Do Consumers of CBD Face Any Safety Risks?

Interestingly, nearly all the literature available on CBD says that it is safe for consumption. However, little is known about how this compound may interact with other substances, such as conventional medications, in the body.

Additionally, CBD extracts haven’t been used for a long enough time to assess their effects on pregnant women and their unborn babies. Caution is therefore recommended for people in high-risk categories (expectant mothers and babies, for example).

As you can see, CBD seems set to continue on its forward march now that hemp is an agricultural product that can be widely cultivated for various purposes. Cannabis industry players like Marijuana Company of America, Inc. (OTCQB: MCOA) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) would like to see a time when marijuana is accepted the way hemp is now accepted.

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Outside Investment, New Technology Support Growing Cannabis Industry

CannabisNewsWire Editorial Coverage: Revolutionary innovations and advancements within the cannabis industry are drawing significant investment from big corporations.

Technology currently in development will make it easier to consume active ingredients in cannabis.
Advances have attracted investment for the technology’s use in tobacco as well as cannabis.
These improvements could move consumers to healthier forms of consumption than smoking.

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) (LXRP Profile) has benefited from recent investment by Altria to support its innovative research and design work. Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) has received substantial investment from a beverage company, which will support the development of cannabis drinks. Within the sector, Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) is in the process of acquiring an organic grower. Outside investment is bolstering Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), a cannabis company with global reach. And another innovator, GW Pharmaceuticals Plc (NASDAQ: GWPH) (OTC: GWPRF), has run successful trials on a new drug to tackle a form of childhood epilepsy.

To view an infographic of this editorial, click here.

Finding Funds for Cannabis

The quest for finance is important in any industry, but for cannabis businesses, which are going through a period of impressive growth thanks to legal and social changes, this need for money is particularly time sensitive. Those who find substantial funding now may be in the best position to expand in the growing market.

Only a select few companies in the cannabis industry have successfully attracted capital from — and built relationships with — Fortune 500-type corporations. Though cannabis is growing, the sector is still relatively small compared with those big names, and the perceived reputational issues can be a deterrent. Even among cannabis companies that have drawn big money, few have established a partnership allowing them to retain control, much less receive money in return for license rights and minority ownership in a subsidiary. Instead, most of these companies aim to be bought out by bigger businesses.

But there have been exceptions.

A Better Deal for a Cannabis Company

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) is an example of one company that has built a big funding deal on its own terms.

Biotech company Lexaria is perhaps most known for its DehydraTECH technology, a revolutionary system for processing molecular compounds to make them more suitable for human consumption. Applicable to molecule such as THC and cannabidiol, the active ingredients in cannabis, the technology makes these compounds taste better, increases the body’s ability to absorb them, and speeds up their impact on the body. Together, these changes can increase the efficacy of both medical and recreational drugs.

To provide the funding for further work on this technology, Lexaria has struck a deal with industry giant Altria, which will cover the use of DehydraTECH to deliver nicotine.

The milestone deal is between Lexaria Nicotine LLC, a wholly-owned subsidiary of Lexaria, and a subsidiary of Altria, Altria Ventures Inc. Under the terms of the agreement, Altria will initially provide $1 million of finance towards a Lexaria research and development program, with the option for funding of up to $12 million.

Unlike so many other deals in the biotech sector, the partnership won’t see Altria gain any ownership over Lexaria itself. Instead, the company will receive minority ownership of the Lexaria Nicotine subsidiary, with the option to increase its stake in that company through multiple phased private financings. Lexaria retains its independence while benefiting from the money that big tobacco can provide. Critically, Lexaria’s shares have not been diluted by this fresh source of finance.

In addition to a minority stake in Lexaria Nicotine, Altria has received a license to use DehydraTECH technology in oral nicotine delivery products, on an exclusive basis in the United States and a nonexclusive basis elsewhere in the world. This will provide Lexaria with a new revenue stream, as it is slated to receive royalties for any DehydraTECH products Altria launches. The impact on Lexaria’s financial statements of a Fortune 500-derived royalty stream could be significant.

Tobacco companies are eagerly searching for alternatives to traditional cigarettes, to reduce their damaging impact on health and the reputational damage this brings. These factors give Altria a strong motive to develop products using DehydraTECH, providing profits for Lexaria and demonstrating the potential of DehydraTECH to other interested parties.

Starting with a $1 million stake might seem small compared with other big headline deals. But by gaining Altria’s buy in without selling any part of its main company, Lexaria has struck a profitable balance between raising finance and retaining its independence. It’s a unique transaction that other cannabis companies haven’t been able to achieve.

Applying the Technology

Though this recently announced deal is about tobacco, Lexaria’s attention is very much on the cannabis market.

There are three main routes for the active ingredients in cannabis to enter the body — by inhalation, by being placed under the tongue, and by being eaten. Each has its own drawbacks. Inhalation has the highest level of bioavailability, or how much of the chemical is absorbed, but is harmful to the consumer’s lungs. Consumption by under-the-tongue methods has a moderate level of bioavailability but an unpleasant taste. Eating cannabis products has a low level of bioavailability, giving consumers a low bang for their bucks, plus flavor challenges usually met through the addition of large amounts of sugar.

DehydraTECH transforms the situation by seriously reducing the downsides of eating cannabis.

The technology involves combining active ingredients with fatty acids such as those found in sunflower oil, which provide a protective bond, with a patented dehydration process. The molecules within the fatty acids are believed to keep active ingredients away from bitter taste receptors, significantly reducing their unpleasant flavor, thus vastly reducing the need to disguise them with sugar. Low-calorie edibles that taste great are possible!

Fatty acids also help active ingredients in cannabis as they pass through the digestive system. They protect cannabinoids from damage while passing through the stomach, increase the extent to which they’re absorbed by the intestines and can even bypass the liver’s first attempts to filter them out. This leads to much higher absorption, significantly increasing their bioavailability.

This process makes cannabis edibles, which are already healthier than smoking the drug, far more appealing and better value for money. This has led to deals such as Lexaria’s licensing of DehydraTECH to Nuka for use in its cannabis-infused chocolates.

To make the most of this potential, Lexaria has created subsidiaries specializing in the use of DehydraTECH for cannabis. Lexaria CanPharm Corporation focuses on the cannabis market, providing DehydraTECH and other enhancements to the global cannabis industry. The company is in discussions to license its technology in Canada, the United States, and Europe.

Lexaria Hemp Corporation. operates within the related hemp industry, which works with a specific form of cannabis that is low in psychoactive THC but potentially rich in other active ingredients. Lexaria Hemp is in discussions with a number of companies about how its products is used to deliver cannabidiol (CBD) derived from hemp.

With a groundbreaking technology, a carefully developed corporate structure and now a new Fortune 500 source of funding, Lexaria appears to be in a strong position within the cannabis industry.

A Crop of Cannabis Companies

The dramatic growth of legal cannabis in recent years has created a range of important companies focused on the sector.

Like Lexaria, Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) has had success in attracting finance from bigger players outside the cannabis sector. The company has received $4 billion in investment from an American beverage company, which has bought a significant stake in the core company. This will help to finance the development of cannabis-infused drinks and is seen as part of a wider trend, as tobacco and cannabis companies look to vary their product lines while health concerns constrict their sales.

The expansion of the cannabis market has seen a string of investments and purchases within the sector. Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), one of the big players in Canada, recently signed a letter of intent to acquire Whistler Medical Marijuana Corporation in a deal valued at $175 million. This will give Aurora control of a well-established organic cannabis brand, increasing its market appeal.

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) has, like Lexaria, drawn investment from Altria, in the amount of CA$2.4 billion. In this case, the funds have come in exchange for shares in the core company, giving Altria a great deal of influence at Cronos. Cronos already does business in North America, Latin America, Europe, Australia and Israel, so this will provide Altria with a way into global cannabis markets, as the spread of legalization expands cannabis markets around the world.

Other companies, such as GW Pharmaceuticals Plc (NASDAQ: GWPH) (OTC: GWPRF), are strongly oriented towards the use of cannabis for medical purposes. As well as selling strains of medical cannabis, GW has been carrying out research to develop medicines based on it. The company recently saw positive results from the second round of trials of an oral solution created to tackle Dravet syndrome, a severe and hard-to-manage form of epilepsy.

With more money coming in from big-value companies and new technology in development, the cannabis industry looks set for a bright year.

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.

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420 with CNW – Cannabis College Starts Training Oklahomans to Work in Cannabis Dispensaries

People who would like to work in or own medical cannabis businesses in Oklahoma can now receive the training that they need to succeed. Hempstaff Dispensary Training, aka Cannabis College now organizes classes on different aspects of medical cannabis.

The organizers of these classes say that emphasis is placed on equipping attendees with information on the history, science and laws around medical cannabis so that one is ready to participate in this rapidly growing industry.

The company organizes two four-hour classes through which people get a thorough grounding in the major aspects needed by someone who wants to own or work in a cannabis dispensary.

Students who attended the first training sessions held last weekend say that they got more than they paid for because the content of the course was very rich. For example, the students were told why a patient can be given a particular strain of cannabis and not another for a given medical condition.

Such information is critical because the dispensary staff can help patients to make informed decisions when selecting products to buy. The medical cannabis space isn’t like conventional medicine in which a doctor diagnoses and gives a patient a specific prescription to alleviate his or her condition. Cannabis dispensary staff therefore play a crucial role in making it possible for patients to select what will be most beneficial for them.

Cannabis College decided that it would make its contribution in the medical cannabis space by preparing people to work in this industry. Leaving cannabis companies with the sole responsibility of training their staff is a bit risky, the organizers of the trainings added.

The trainers also say that they put emphasis on the current medical cannabis legislation and the likely changes that are bound to occur. This segment of the training is important because at the moment, Oklahoma is using emergency rules to regulate the medical cannabis industry. One should therefore understand the current legal regime and prepare for the changes that are coming as the industry evolves in the state.

Employers appreciate this training on the rules because an employee who doesn’t know all the applicable legal provisions can make a mistake that can cause regulators to close a dispensary and fine or incarcerate the owners.

The initiative taken by Cannabis College is appreciated by everyone in the cannabis industry, including Green Hygienics Holdings Inc. (OTCQB: GRYN) and Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) because such efforts make the industry more beneficial to patients.

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420 with CNW – Israeli Cabinet Approves Export of Marijuana Products

Toward the end of last year, we reported that the Israeli parliament had passed a bill permitting local companies to export medical marijuana. However, there were fears that the cabinet may wait until after elections before pronouncing itself on this matter. It turns out that those concerns were premature because the cabinet has given its approval and cannabis firms can start processing the necessary paperwork to sell medical cannabis abroad.

The cabinet’s decision leaned on the recommendations made by an inter-ministerial committee (finance and health ministries) that was tasked with studying the Act of parliament and then advise the cabinet on the matter.

The committee took note of the advanced research, technology and regulatory capabilities of the country as major advantages that would make Israeli medical cannabis competitive on the world market.

The worldwide medical cannabis market is growing rapidly from an estimated valuation of $8.3bn in 2017 to about $28bn by 2024. Medical cannabis exports would earn Israeli firms about $1.09bn each year.

The Ministry of Finance agreed to channel some of the money earned from cannabis exports to the Ministry of Health.

Currently, there are eight companies that grow medical cannabis in Israel. The approval of exports is good news to them because the domestic market wasn’t large enough to sustain these producers as well as those who are still queuing to get licenses.

Medical cannabis exports will be tightly regulated since cannabis is a drug that is subject to strict controls internationally. Israeli companies will get an export permit issued by the Ministry of Health and approved by the police. These companies will then export medical cannabis to other companies in Europe. Those companies should have also obtained permits to import medical cannabis.

Israel is likely to enjoy several advantages when compared to other countries, such as Canada, that export medical cannabis. For example, Israel is closer to most European markets when compared to its competitors.

Secondly, Israel is renowned for having very strict regulatory systems and its research capabilities are famous across the world. This makes Israeli medical cannabis exports to have a good reputation on the market when compared to other exporters whose domestic regulatory mechanisms aren’t so rigorous.

As you can see, different countries are positioning themselves to control a large share of the international medical cannabis market. The question is, when will the U.S. wake up and catch up with the other countries that are already active in the medical cannabis space? The sooner federal marijuana laws are reformed, the better for the U.S. cannabis industry. This speedy legal reform is what entities like Golden Developing Solutions, Inc. (OTC: DVLP) and Global Payout, Inc. (OTC: GOHE) have been hoping to see for years.

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420 with CNW – Legalization Changes How Canadians Talk to Kids about Cannabis

Recreational cannabis was legalized in Canada late last year and this has made parents to rethink how they talk to their kids about cannabis. This adjustment was prompted by the increasing visibility of marijuana in all walks of life.

SheCann founder, Ashleigh Brown, says that the cannabis “talk” should never be regarded as a one-time event. Instead, conversations about the substance should be conducted on an ongoing basis so that kids are empowered to make the right decisions when confronted by opportunities to use the substance.

Speaking in Toronto at a “Women and Weed” event last weekend, Brown said that kids are smart and constantly watch all those around them. It is therefore important that the conversations parents and adults have with kids regarding marijuana should be honest and authentic so that the kids can see a connection between what you are telling them and what they see around them.

Ashleigh Brown used her own experience as a case study. She revealed that she started using medical cannabis in 2016, so her two kids regarded the substance as nothing more than a medicine.

However, after the legalization of recreational cannabis, she started talking to her children about the different ways through which people can use cannabis. Such a discussion helps her kids to make sense of what is around them in case they come across cannabis on the streets or at the parties they attend.

Another participant at the “Women and Weed” event remarked that the way parents talk to kids about alcohol and smoking tobacco cigarettes should be the same way in which they talk about cannabis.

Avoiding such crucial conversations only fuels stigma about cannabis and may increase its appeal to kids, something that every parent would want to avoid.

The issue of discretion vs. hiding cannabis also came up during the discussion. It was okay to lock away one’s stash of cannabis to prevent kids from accessing it, but it wasn’t productive to try to hide the fact that you consume cannabis.

Parents should also educate their kids about the downsides of consuming cannabis, and also emphasize that more research is still being done to get a more detailed understanding of the full effects of cannabis on young users and adults.

Parents in the U.S. states where cannabis is legal can borrow a leaf from what their Canadian counterparts are doing in order to provide sufficient guidance to kids regarding this substance that is still attracting mixed reactions across the U.S. Cannabis industry players like Generation Alpha, Inc. (OTCQB: GNAL) and FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) would love to see such candid discussions everywhere so that any decisions made are based on concrete information rather than on misconceptions and myths.

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420 with CNW – New Tax Plan Injects Life into New Jersey Marijuana Legalization Debate

A stalemate had developed between the Senate President and the Governor of New Jersey regarding how the marijuana industry will be taxed once an appropriate law is passed. However, a new plan has reignited the legalization debate and a compromise may be reached to move forward on this long-awaited matter.

Previously, Stephen Sweeney (the Senate President) had dug his heels in that he would not go along with any marijuana legalization law that set the tax rate at more than 12 percent. Meanwhile, the Governor (Phil Murphy) was adamant that the tax rate should be in the region of 25 percent.

The disagreement between these two influential leaders had driven the legalization debate to a standstill and there seemed to be no hope for a way out of that stalemate.

Now a new proposal to tax marijuana products by weight rather than by each item sold appears to be providing the much needed compromise between the two parties. While there are disagreements on various issues, the different opinions on tax matters were the biggest bone of contention between the lawmakers and the Governor.

Proponents of the new tax proposal see that plan as beneficial in two major ways. The first, as already mentioned, is to build consensus between the two sides on the tax rate.

Secondly, taxing marijuana by weight has the added long-term benefit of protecting the state’s tax revenue from the effects of marijuana price fluctuations.

You see, in states where marijuana taxes are based on the sales made (excise tax), falling marijuana prices have caused tax revenues to take a hit.

For example, Colorado reported in 2018 that marijuana prices had fallen by approximately 70 percent from what they were in 2014 when recreational cannabis was legalized.

Such a huge drop in prices can cause serious funding shortfalls for states where an excise duty is imposed on all marijuana products sold.

The plan to tax cannabis by weight shields the state from such tax income drops since the taxes collected will stay the same regardless of which trend marijuana prices take. As historical data shows, prices inevitably go down as more players enter the industry and new production methods cut costs for cultivators.

Taxing marijuana by weight may therefore be a masterstroke that gets legalization back on track while also ensuring that the state will have a sustainable source of revenue. Such win-win solutions are what everyone in the industry, including Earth Science Tech, Inc. (OTCQB: ETST) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF), wants for all jurisdictions where marijuana is legalized.

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420 with CNW – Massachusetts Legal Cannabis Sales Hit Nearly $24M during First Two Months

Massachusetts started retail sales of recreational marijuana on November 20 and nearly $24 million worth of cannabis has so far been sold in just two months, according to statistics released by the state.

The data released by the Cannabis Control Commission shows that cannabis products worth $23.8 million were sold by licensed dispensaries in the maiden two months since retail sales started.

The statistics also show that retail sales have been booming since the first day of legal recreational cannabis sales. For example, the two dispensaries that opened on the first day of legal sales made about $2 million in retail sales during the first five days when they were open.

Each retail sale attracts a 20 percent tax with 3 percent of that tax going to the local authorities while 17 percent goes to the state. You can therefore calculate how much tax Massachusetts earned from the sales made during the first two months after legal sales started.

It is also worth noting that Massachusetts is the first state on the East Coast to permit recreational marijuana. The population there has responded overwhelmingly to this new development.

For example, Cultivate, one of the first dispensaries to open in Leicester, attracted such large numbers that the city held an emergency meeting to discuss how to control traffic in the area. About 1,000 customers have been visiting the retail outlet each day.

Cannabis is such a hit in the area that people flag down each other to ask for directions and everyone knows where to buy marijuana.

Does this large number of customers affect customer service at the retail outlets? Not at all, if the reports from clients are anything to go by. Many reported that everyone was served properly and it was easy to make a purchase.

One Leicester resident even said that he flagged down a cop to ask for directions and found it pleasantly weird to ask a cop for directions to where pot could be bought!

The statistics of the people who are visiting the current dispensaries each day point to the possibility that not enough retail outlets have been licensed in the state, or not all that have been licensed have opened for business. Nevertheless, business is being conducted smoothly, which is a totally different story from what is happening in Canada. ChineseInvestors.com (OTCQB: CIIX), Canopy Rivers Inc. (TSX.V: RIV) and everyone in the cannabis industry hopes that the Canadian supply issues will soon end so that customers there can enjoy what those in Massachusetts are enjoying.

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