420 with CNW – Four Issues New York Needs to Agree Upon Before Legalizing Recreational Cannabis

While Gov. Andrew Cuomo says that a law legalizing recreational marijuana is likely to be passed this year, legislators still have a lot to do before the details of what form legalization will take shape up. The following issues are some of the sticking points that are likely to generate a lot of debate as a law is finalized.

What Role Will Local Governments Play?

You cannot think about legalizing adult-use marijuana without considering how to factor in local governments. It isn’t yet clear whether the law that will be passed will give local authorities any power to accept or refuse recreational cannabis businesses in their jurisdiction. California granted local authorities the right to determine whether retail outlets will operate in their jurisdictions or not.

However, Massachusetts took a different approach and centralized the issuance of retail licenses. Either approach has its own pros and cons. For example, California licensed hundreds of retail outlets while only a handful are so far open in Massachusetts. So, which direction will New York take on this matter?

How Much Tax Will Be Imposed?

The issue of taxes is a major one because taxes are one of the reasons why proponents have been advocating for the legalization of recreational pot across the U.S. However, it is hard to build consensus on what rate should be used to tax recreational marijuana.

While a low rate is attractive and can pile pressure on the black market, it has the downside of potentially failing to raise sufficient revenues to meet the cost of regulating the industry as well as fund other state priorities, such as rebuilding the aging infrastructure.

Conversely, a high tax rate has the potential of generating the target revenues for the state, but will buyers play along? Price-sensitive consumers may find it easier to drive to nearby states for more affordable cannabis, or they may opt for the black market. Then, where will the tax money be spent? Opinions abound on this matter as well.

How Will the Market Be Regulated?

Numerous proposals have been fronted regarding how or more specifically who should oversee the recreational marijuana industry. Some people think that the Department of Health should be in charge since it is already handling medical cannabis. Others are of the opinion that a new body should be built from the ground up just for the recreational market.

Which way this debate finally goes may determine how soon New Yorkers can legally buy recreational marijuana within the state.

Where Will the Cannabis Be Consumed?

It is also not yet clear where and how the recreational cannabis will be consumed. For example, will it be acceptable for adults to smoke a joint in public, or will they be restricted to doing so in the privacy of their homes? Will cannabis cafes similar to what is in Amsterdam be permitted in New York? Will edibles and concentrates be legal as well, or these will be addressed later?

As you can see, the legislators have their work cut out. New Yorkers, and industry players like Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) as well as ChineseInvestors.com (OTCQB: CIIX) hope that a speedy resolution to all the sticky questions is found so that New Yorkers don’t have to wait for too long before they can access marijuana legally.

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

Companies Explore Market Potential for Ready-to-Drink CBD Beverages

CannabisNewsWire Editorial Coverage: The market for cannabidiol (CBD) beverages alone could achieve a value of $260 million in the United States by 2022. CBD beverages form part of an even wider market for marijuana-infused drinks that is predicted to reach a value of $600 million in three years’ time.

  • U.S. market for CBD and THC beverages could reach $600 million by 2022.
  • Cannabis-infused drinks could outperform other cannabis products.
  • Non-cannabis and cannabis companies alike are joining this new market.

Savvy companies are looking to position themselves in this burgeoning market, often by partnering with companies that provide invaluable experience in the sector. Youngevity International Inc. (NASDAQ: YGYI) (YGYI Profile), an established omni-direct lifestyle company, has formed a cross-marketing agreement with a bottled spring water company, which will see the pair develop new products including a ready-to-drink CBD beverage. Tilray Inc. (NASDAQ: TLRY) is partnering with the world’s largest brewer in a $100-million joint venture to research cannabis-infused nonalcoholic drinks. Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) recently received a $4 billion investment from a leading beer maker. Other companies are looking to grow in additional cannabis spaces. Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) recently received a license from Health Canada permitting the sale of cannabis softgel capsules. And GW Pharmaceuticals (NASDAQ: GWPH) announced that its FDA-approved anti-epileptic drug is now available in the United States.

To view an infographic of this editorial, click here.

Injecting Growth into Product Portfolios

Recent reports by Canaccord Genuity indicate that cannabis and CBD-infused beverages have the potential to outperform cannabis products, reaching up to 20 percent of the market for cannabis-containing consumables by 2022. “While these trends represent a significant opportunity for U.S. cannabis companies, they have not gone unnoticed by large mainstream beverage players looking to inject growth into their product portfolio,” said Canaccord analyst Bobby Burleson, who also predicts that ready-to-drink CBD beverages will form part of the growing market for wellness drinks.

Indeed, a number of U.S and Canadian pharmaceutical, cannabis, beverage and even lifestyle companies have developed or are planning to develop CBD-infused beverages. These developments often begin with, or result in, new partnerships.

Joining Forces to Share, Build and Develop

Youngevity International Inc. (NASDAQ: YGYI) has entered an exclusive cross-marketing agreement with Icelandic Glacial™. The agreement includes plans to develop new products including CBD drinks in order to extend the market for Youngevity’s lifestyle brands and Icelandic Glacial’s market reach.

Icelandic Glacial bottled water will be added to Youngevity’s roster of health, wellness, food and beverage brands. Owned by Icelandic Water Holdings and registered in Iceland, the Icelandic Glacial brand offers water that comes from the naturally alkaline spring Ölfus Spring, has a low mineral content and is certified CarbonNeutral®.

Youngevity and Icelandic Glacial have agreed to partner for three years. Icelandic Glacial bottled water will be sold alongside Youngevity’s direct selling supplements, including 90 for Life, CBD products, pet supplements and the coffee holdings of Youngevity’s wholly owned subsidiary, CLR Roasters. During the three-year period, Youngevity will not promote any other bottled water, and Icelandic Glacial will not promote any other supplement businesses or products.

“With its rare, naturally occurring, high-pH level, low-mineral content, and unique lava rock filtering system — as well as its positioning as the world’s first CarbonNeutral bottled water company — Icelandic Glacial is perfectly positioned to serve not only customers who want a pure-tasting water that makes them feel and perform their best but also eco-friendly consumers who want to make sure their money goes to brands with a conscience,” said Steve Wallach, CEO of Youngevity International Inc.

Youngevity will use its marketing and multilevel marketing expertise to help Icelandic Glacial build its brand and reach new customers in the United States and around the globe. In return, Icelandic Water Holdings plans to introduce its customers to Youngevity’s health and nutrition products. Icelandic has a 14-year history of serving health and quality-conscious consumers while building a brand known for purity. The company has a completely sustainable operation fueled solely by geothermal and hydroelectric power. Icelandic Water is committed to reaching a target of net-zero greenhouse gas emissions.

Entering the CBD Product Market

The development of a ready-to-drink CBD beverage will be the first of the partnership’s potential new products. Future ideas may include possible special products for a range of markets based on CBD and other life-enhancing supplements.

Youngevity first entered the $7.7 billion cannabis industry with the introduction of its Hemp FX™ brand in October 2018. The new product line includes three blends of hemp-derived cannabinoid oil products: a topical cream, softgel capsules and a relaxing sleep oil. Each formula contains organically grown hemp-derived cannabinoids combined with Youngevity signature nutrients.

“Hemp-derived cannabidiol aligns with what we do very well,” said Wallach. “We’ve taken what we know about essential nutrients, along with decades of knowledge specializing in natural, plant-based nutrition and their most beneficial nutrients, and put that knowledge to work to develop high-end cannabidiol products.”

Youngevity operates a hybrid direct-sales business model combined with e-commerce and social selling to deliver a virtual main street of products and services under one entity. Its entire range includes products from eight top-selling retail categories including health/nutrition, home/family, food/beverage (including coffee), spa/beauty, fashion, essential oils and photo.

A Global Market Worth $22 Billion by 2020

Reports suggest the entire hemp-derived CBD market will hit $22 billion globally by 2022. Much of the focus on CBD-infused products and drinks is towards the healthy lifestyle consumer market. However, more big brand beverage companies are expected to enter the industry and create CBD-infused non-alcoholic beverages for a broader spectrum of consumers. CBD-focused developments and partnerships are likely to increase as industry regulation becomes clearer.

For example, medical cannabis company Tilray (NASDAQ: TLRY) announced a research partnership with Labatt Breweries parent company AB InBev to explore the potential of THC- and CBD-infused non-alcoholic beverages. This partnership will be limited to Canada, with Tilray participating through its Canadian adult-use cannabis subsidiary. The partnership calls for each company investing up to $50 million in the project.

Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) continues to benefit from a massive multibillion-dollar investment by Corona-beer maker Constellation Brands. The move will extend the collaboration from the development of cannabis-based beverages to co-developing products across a complete range of cannabis extracts. It also allows Canopy Growth to build scale in the more than 30 countries considering legalization of medical cannabis and establish essential infrastructure required to supply new recreational adult-use markets.

After obtaining the required licensing, Aurora Cannabis (NYSE: ACB) (TSX: ACB) has commenced shipments of cannabis softgel capsules for both the Canadian medical and adult-use markets. The company expects to start exporting to international markets early this year. Aurora intends to make its smoke-free softgel product available to all of its domestic and international target markets over time where legally possible. “Softgels are a high-volume, high-margin product for both the medical and adult-use markets that are in strong demand, and Aurora is one of few companies making these products available to patients and consumers alike,” said Aurora CEO Terry Booth.

Apart from cannabis-infused beverages, GW Pharmaceutical’s (NASDAQ: GWPH) product EPIDIOLEX is the first FDA-approved CBD oral medicine available by prescription in the United States for the treatment of seizures associated with Lennox-Gastaut syndrome or Dravet syndrome in patients two years of age or older. Its Sativex brand was the first-ever natural cannabis plant derivative to achieve market approval.

For more information on Youngevity, visit Youngevity International, Inc. (NASDAQ: YGYI)

About CannabisNewsWire

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

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

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

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

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

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

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

420 with CNW – Liquor Sales Unaffected by Marijuana Legalization, Study Finds

There were fears that the legalization of adult-use marijuana in different U.S. states would trigger a decline in alcohol sales as consumers switch to marijuana instead of taking alcohol. Numerous reasons, such as the hangovers associated with alcohol consumption, were cited as factors that would impact alcohol sales once cannabis was legalized. However, a recent study conducted by the Distilled Spirits Council has found that no such slump in sales has occurred in the three states where recreational cannabis has been legal for the longest time in the U.S.

The alcohol trade association reported that the trends in alcohol sales remained consistent regardless of marijuana legalization in Washington, Oregon and Colorado.

The Distilled Spirits Council analyzed the per-capita alcohol consumption data in the three states from two years before legalization occurred to four years after legalization.

The data showed that the sales of spirits increased by 3.6 percent in Oregon and 7.6 percent in Colorado.

However, wine did not fare the same way in all the three states. Washington registered a drop in sales during the time studied by the Council. At the same time, an upward trend was noticed in wine sales in Oregon and Colorado.

Beer sales have generally been declining for over a decade, and the analysts weren’t surprised to find that beer continued to lose its market share to spirits and wine even after marijuana became legal for adult-use in the three states.

Vivien Azer, one of the analysts who pored over the alcohol sales data commented that lower-end beers faced the greatest risk of losing their market share because they were largely consumed by lower-income Caucasian men who often faced a choice between buying cannabis and taking a beer. The data shows that cannabis is emerging as the winner when such a choice has to be made.

Wines and distilled spirits appeared to be insulated from such pressures because they tend to be consumed by higher-income earners who can afford to consume marijuana and their favorite alcoholic drink. Besides, cocktails are increasing in popularity among women, so that demographic alone can keep the sales of wines and spirits up.

All the same, many industry watchers are cautioning that it is still early days to conclude that marijuana will not eat into the market share of alcohol. Different generations and demographics are likely to respond differently when marijuana becomes an option for them. As recent polls show, marijuana is clearly becoming a favorite across the board. Industry players like Canopy Rivers Inc. (TSX.V: RIV) and Cannabis Strategic Ventures, Inc. (OTC: NUGS) hope that such goodwill translates into the spending of disposable income on marijuana.

More from CannabisNewsWire

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Three Things Likely to Affect Marijuana Stock Prices

While 2018 can be described as a huge year for marijuana in many ways, 2019 promises to yield even bigger strides for the industry. Investors who are planning to get in on the action this year should pay attention to three important factors that are likely to have an impact on the price of marijuana stocks. This article discusses those factors.

Changes to U.S. Marijuana Laws

There have been concerted efforts to get the U.S. federal government to modify its marijuana laws. So far, nothing has happened yet. However, the new House of Representatives that started its work at the start of this month seems poised to pass some legislation that will change the legal landscape for marijuana. Efforts are also ongoing in the Senate to build consensus around marijuana law reform.

Should any change be made, several companies are poised to register big wins since they will be able to attract more investors. For example, the passing of a law that recognizes the right of states to enact their own marijuana laws can ease the jitters of many potential investors in the industry. Needless to say, the rescheduling of marijuana at the federal level can cause major activity in the market for marijuana stocks.

Growth and Expansion in the Canadian Recreational Market

The Canadian recreational market is still in its infancy, but even then, the demand has overwhelmed the growers there and they are scrambling to step up their production in order to meet the huge demand.

Be that as it may, many more aspects of the market, such as concentrates and edibles, are yet to be legalized. The passing of the appropriate legislation for those other products will cause a significant stir in the market. The companies that have primed themselves to bring additional products, such as edibles, will command a huge share of the market. Savvy investors should therefore do their homework and identify the companies that have positioned themselves properly to jump in first once the door is opened.

Big Deals

In 2018, the marijuana industry saw some major deals between cannabis companies and entities outside the industry. For example, Constellation Brands concluded a big money deal with Canopy Growth. Cronos Group also received a huge investment from tobacco giant Altria. Those deals caused major price movements in the stocks of the two cannabis companies, and more deals can be expected this year.

Remember, last year ended when there were rumors that some beverage makers, such as Coca-Cola, were in talks with Canadian marijuana companies. Nothing came of those rumors, but don’t discount them just yet. Other companies are also poised to strike deals with big brand entities that are looking to get a foot into the marijuana industry. The investors who correctly identify and buy shares in companies that eventually put pen to paper will smile all the way to the bank when they ride the wave that will carry the stocks of those companies upwards as a result of the deals struck.

The marijuana industry has rightly been lauded as good for everyone (patients, the taxman, employees, investors and recreational users). Read the factors above correctly when making an investment decision and you too will join the ranks of those who are benefiting from the industry. That is what industry players like Youngevity International, Inc. (NASDAQ: YGYI) and VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) want for every investor.

More from CannabisNewsWire

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – The Most Expensive Cannabis Product is Sold in Las Vegas

In true Las Vegas fashion, the record for the most expensive cannabis product ever sold (so far) has gone to a cannabis dispensary where a restaurant owner bought a “cannagar” (a cigar that contains marijuana instead of tobacco) at $11,000.

This record-breaking purchase was made by Brandon Hawkins after he flew to Las Vegas from Los Angeles with the sole purpose of buying this specialty product.

The scene of this purchase was Nuwu Cannabis Marketplace found on tribal land. The cannagar was wrapped in a 24-carat gold leaf, part of the reason why it was so expensive.

Brandon Hawkins said that he was buying the expensive product on behalf of a business partner that wished to remain anonymous. The sale took place on December 28, just in time for Brandon Hawkins and his unnamed business partner to secure a unique way to celebrate New Year’s Eve.

Hawkins paid for the product by handing Joe Delarosa (a budtender, who had been expecting him on that day) stacks of $20 bills. The two men shook hands, and the deal was closed.

Interestingly, this purchase took three months to arrange. First, Hawkins was intrigued by a similar cannagar that was bought in June 2018 at $10,000.

Hawkins had spent more than a decade working in Las Vegas before he moved to LA. One of his workmates during his stint in Las Vegas was Ranson Shepherd.

Shepherd co-founded Virtue, a Las Vegas cannabis grower. It was therefore no mistake when Hawkins contacted Shepherd after hearing about the $10,000 cannagar. Shepherd reached out to Leira, the Washington-based maker of the cannagar sold in Seattle.

Shepherd and Ariel Payopay (of Leira) agreed to form a partnership that would see the cannagars produced by Leira sold in Las Vegas. The sale of the record-breaking cannagar marked the official launch of Leira’s cannagar sales in Las Vegas.

Las Vegas is likely to witness such high-end purchases more frequently when cannabis lounges open in the city. The tribe that owns Nuwu Cannabis Marketplace also received a gift of a smaller version of the cannagar purchased by Hawkins. The gift was from both Virtue and Leira as a token of thanks for what the tribe is doing to spur growth in the cannabis industry.

Does an $11,000 cannagar taste better than a cheaper version? Maybe yes, maybe no. However, this video explains that our minds trick us into believing that costlier products are of superior quality. So, don’t have any harsh words for Hawkins and his business partner! After all, that purchase is good for the industry because it is pushing cannabis culture in a whole new direction, exactly what industry players, including TransCanna Holdings Inc. (CSE: TCAN) and Therma Bright, Inc. (TSX.V: THRM) (OTC: THRBF) want.

More from CannabisNewsWire

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Feds Plan to Spend $1.5 Million on Cannabis Research in 2019

The U.S. federal government has plans to give researchers $1.5 million to study the minor components of cannabis and the terpenes in the plant during the 2019 funding cycle. The money will go to researchers who want to study how cannabis components, excluding THC, affect pain management.

NCCIH (National Center for Complementary and Integrative Health) published a notice asking researchers to show interest in studying terpenes and minor cannabinoids. The funding will go towards understanding how those minor cannabinoids and terpenes work to relieve pain either in isolation or in combination with each other.

The notice published by NCCIH stressed that such studies are important given the fact that addictive opioids are widely used to combat pain.

THC, the psychoactive cannabinoid in marijuana, is known to have pain-relief effects. However, little is known about the analgesic effects of the minor cannabinoids and terpenes, and yet these could be useful alternatives as painkillers.

The federal agency also wrote that there was some research showing that cannabis could enhance the ability of opioids to relieve pain, so it is possible that cannabis constituents may be used in combination with opioids to manage pain effectively while using smaller doses of the opioids.

NCCIH then listed the cannabinoids it is greatly interested in. These include cannabidiol (CBD), cannabinol (CBN), cannabigerol (CBG) and several terpenes.

The agency is interested in finding out whether those cannabis constituents with analgesic attributes can be separated from the psychoactive ones without affecting the painkilling benefits of the analgesic elements.

Additionally, the agency listed a number of research areas for which applicants could apply for funding. For example, NCCIH will consider applicants who want to study how gender, sex and age differences impact the analgesic effects of minor cannabinoids and terpenes.

Secondly, the agency welcomes researchers who plan to focus on the analgesic effects of terpenes and minor cannabinoids on the different stages of pain, such as acute pain and chronic pain.

Another potential area of study is the effect of different dosage levels or methods of administration of terpenes and minor cannabinoids that have been found to have painkilling effects.

In total, 11 areas of research are included in the notice released for those who may be interested in securing federal funding for their research on cannabis.

Four grant recipients will share the $1.5 million. Interested groups or researchers were asked to submit their applications a minimum of 30 days before March 15. One can only guess that the 30 days before that deadline will be used to evaluate the applications and select those who will receive the research grants.

Such funding is a step in the right direction because it will enable the federal government to make marijuana policies and laws based on facts rather than conjecture. Industry players like The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) and The Flowr Corporation (TSX.V: FLWR) applaud the effort made to facilitate cannabis research.

More from CannabisNewsWire

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Ontario to Select Cannabis Retailers Using a Lottery

Did you, in your wildest dreams, ever imagine that the start of your business venture would depend on the outcome of a lottery? Well, that is exactly the fate awaiting cannabis retail license applicants in Ontario, Canada. The provincial government led by the Progressive Conservatives has decided to use a lottery to select the first 25 private entities that will be allowed to open marijuana retail businesses.

Previously, the province had resolved to sell recreational cannabis in government-run retail outlets only. However, the change of government towards the end of the year resulted in a modification of that plan, thereby giving private players a chance to take part in the retail segment.

That change of government, and the resultant decision regarding how cannabis will be sold, led to a delay of the start of retail sales in brick and mortar outlets. For now, residents of Ontario can only buy cannabis from the online stores that have been operating since legalization took place on October 17.

The retail license applicants should not worry that the lottery equipment will be rigged. The system to be used during this lottery (that can make or break businesses) is the same system used by AGCO (Alcohol and Gaming Commission of Ontario) to test all slot machines before they are installed for use in casinos.

This particular lottery comes at a steep cost for those who want to participate. First, they were required to pay $75 as an application submission fee. Additionally, the applicants also forked out $4,000 as a retail authorization fee in addition to another $6,000 as payment for a retail operation license. To crown it all, each applicant was required to present a $50,000 letter of credit to prove that they had the financial ability to operate a cannabis retail outlet.

The applications were submitted between January 7 and January 9. AGCO will select the winners tomorrow (January 11). This round of the selection process excluded LPs (Licensed Producers of cannabis) in order to prevent a single entity from controlling the retail market.

AGCO had also warned that only serious entities or individuals should enter this lottery because stiff penalties will be imposed on those who don’t open their businesses by April 1. For example, a fine of $12,500 will be imposed if they don’t open their outlets by that date. A similar fine will apply if the business isn’t operational by 15th, and then a larger fine of $25,000 will have to be paid if the month ends when a licensed business hasn’t opened its doors to the public. In short, prepare to pay a fine of $50,000 if April 30 finds that your retail business isn’t operational.

Meanwhile, the supply shortages don’t show any sign of ending, and that is why AGCO decided to issue only 25 retail licenses instead of the 40 they had originally wanted to issue. Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) and other players like Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) hope the supply issues get resolved so that offline retail sales can take off without a hitch in Ontario.

More from CannabisNewsWire

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Cannabis Concentrates Could Be Bigger than Edibles in Canada

Canada is slated to legalize cannabis edibles sometime this year and the population is filled with excitement regarding these products. However, if the trend in the U.S. states where edibles are legal is anything to go by, then edibles will not be the biggest moneymaker. Something else, concentrates, will be king of the market.

For example, edibles fetched $685 million from the start of 2018 to October the same year in Oregon, Colorado, California and Arizona. However, the same period saw consumers spending approximately $1.4 billion on marijuana concentrates.

The bulk of that money spent on cannabis concentrates was for marijuana vape pens and cannabis oil cartridges. These items alone accounted for $972 million in the months referred to earlier as captured in the statistics collected by BDS Analytics.

In the cannabis industry, vape pens are the modern or better version of cannabis joints in the same way that electronic cigarettes provide a better way to get your nicotine hit when compared to smoking a combustible cigarette.

Cannabis vape pens are discreet, not smelly and they are user-friendly when compared to the hassles that one has to go through to roll and light a joint.

The other cannabis concentrates on which Americans in the states named earlier spent money were hash oil, wax and shatter. These particular kinds of concentrates are intended for “dabbing.”

Thus, the evidence from the U.S. shows that cannabis concentrates are likely to fetch more money than the edibles that everyone is excited about.

These findings are given further credence when one considers the responses of ordinary people to different cannabis products. Many people will be more willing to try a vape pen rather than taking a puff on a joint if those people haven’t consumed cannabis before.

Interestingly, data from Canada shows that people have been consuming marijuana concentrates for a while. For example, a 2018 survey of approximately 13,000 cannabis consumers revealed that 26 percent had ever used hashish while 19 percent admitted that they had ever used a solid form of marijuana concentrate.

People opposed to cannabis edibles claim that these products will dominate the market and open the gate to the misuse of cannabis. However, the data collected over time shows that even if edibles grow in popularity, they will always fall behind concentrates and the dried bud in terms of market share.

Industry watchers and participants like Sproutly Canada, Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) and SinglePoint, Inc. (OTCQB: SING) are waiting to see how events play out once edibles become legal throughout Canada.

More from CannabisNewsWire

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Rhode Island Considers Using Medical Cannabis to Stop Opioid Dependency

The Department of Health in Rhode Island has scheduled a public hearing early next month to collect views about a petition that calls for cannabis to be used to help people wean off prescription opioids.

Prescription opioid overdoses were found to be responsible for the death of 336 people in 2016 while the number of such fatalities in 2017 was 323. From the start of 2018 to September 2018, the fatalities from prescription overdoses were 220.

The public hearing will take place on February 6 starting at 10a.m at the auditorium of the DOH. Thereafter the department will review the feedback that it collects from different stakeholders before reviewing the available medical literature on the use of medical cannabis instead of prescription opioids.

The Department of Health will also contact clinicians and different researchers in order to learn what their opinion is on this matter.

Finally, a definitive decision on the petition will be made by the Department of Health. The law stipulates that a final decision has to be made on such petitions within 180 days from the time that the petition was received. This means that a final decision should be made by April 15 since the petition was received in October last year.

If Rhode Island decides to approve the use of medical cannabis in the place of prescription opioids, the patients may most likely consume their cannabis as edibles. However, people will also be free to smoke it or apply it topically as an ointment.

The CDC estimates that countrywide, more than 72,000 people died from opioid overdoses in 2017 alone. That figure was 10 percent higher than the opioid fatalities recorded in 2016. There is no sign that this trend of opioid dependency and overdoses will slow down soon, so there is an urgent need to find ways to deal with the crisis.

The outcome of the petition in Rhode Island may well hold the key to turning the tide on this epidemic since there are indicators that cannabis can help people to deal with chronic pain. If Rhode Island proves that this is the case, then a major revolution will take shape starting with the states where medical cannabis is legal, and spreading to the others where medical cannabis is yet to be legalized. Who knows, the federal government may eventually rethink its position on medical cannabis.

For now, the focus is on the upcoming public hearing and the eventual decision that will be made. Industry players like Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) and Plus Products Inc. (CSE: PLUS) hope that the hearing and the analysis thereafter brings an outcome that is in the best interest of patients.

More from CannabisNewsWire

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Three Medical Marijuana Issues That Iowa May Need to Revisit

Iowa legalized medical cannabis in 2014, but the rate at which the state has adapted to the changing realities of the industry is so slow that many have been left frustrated by how oblivious the state legislature is to the things that laypeople see every day. Of specific concern are the three issues below.

The Number of Licensed Dispensaries

The entire state of Iowa has only five medical cannabis dispensaries from which patients can legally acquire what they need for their health challenges. For example, Cedar Rapids doesn’t have any licensed dispensary within its borders and yet this is the second largest city in the state. How is it possible that no dispensary is located there and yet there is no local bylaw banning cannabis businesses from operating there?

This just goes to show that the authorities didn’t consider the demand for medical cannabis when passing the law that restricted the number of licensed dispensaries to just five. What they may not know is that such a limit can unwittingly encourage the black market to thrive in the state since the illicit supply can easily reach every corner of the state.

The Cap on THC Levels

The regulations in place limit how much THC medical cannabis can contain to 3 percent. THC is the cannabinoid that makes people “high”. The board overseeing the medical cannabis program voted unanimously to retain the 3 percent limit on THC for another year or two before revisiting the matter.

While it may be reasonable to set a limit on how much THC people consume when they buy medical cannabis, such a limit should not be so low that patients will be compelled to consume a larger quantity of cannabis in order to get the desired effects.

It would be better for the authorities to provide a rationale for that 3 percent THC limit and get feedback from experts and the public on the same before enacting it into law. As things stand, patients may be compelled to spend more money buying a larger quantity of cannabis since there is no cap on the quantity they can buy.

The Qualifying Conditions

Iowa is operating as though it is the first state to legalize medical cannabis and yet there are several precedents to learn from. California is reputed to have some of the strictest regulatory controls not just for medical cannabis but for everything else. However, California created a list of dozens of conditions for which medical cannabis could be bought long before recreational cannabis was legalized.

Iowa started by allowing medical cannabis for only epilepsy, then eased up a bit in 2017 to include a few more conditions. What is baffling is that post-traumatic stress disorder (PTSD), ADHD and bi-polar weren’t added to the list and yet nearly all other states include them among the qualifying conditions.

All in all, the board in charge of the medical marijuana program needs to be more foresighted and stop being reactive in its approach. Otherwise, the program will not attain its intended objectives. No one, including Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) and Net Element (NASDAQ: NETE), would want this beneficial program to fail.

More from CannabisNewsWire

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com