420 with CNW – Arkansas Selects Firm to Review Medical Cannabis License Applicants

Public Consulting Group, Inc. has been selected by the Arkansas Medical Marijuana Commission to score about 203 companies that have applied for licenses to operate medical marijuana dispensaries in the state.

The commission had reached out to 30 firms which they felt had the capacity to undertake the scoring exercise. However, only Public Consulting Group and ICF Inc. responded by submitting bids for the task.

Public Consulting Group was selected after it was found to have submitted the lowest bid of $99,472 compared to ICF’s bid of $361,514. Public Consulting Group’s figure surprised the commission since they didn’t expect it to be so low. However, the firm was selected since no red flags were found to suggest that it would be unable to do a good job.

The selection of Public Consulting Group comes with an added advantage of saving time since their bid would not be subject to legislative approval because that bid is just under the $100,000 threshold for which procurement approval must be obtained.

That bid therefore allows the commission to move fast in submitting the applications to the scoring firm. Public Consulting Group will have 30 days to submit its findings and will suffer a $5,000 penalty for each extra day that it takes without reporting back with its findings.

The Medical Marijuana Commission is under some pressure to complete the licensing process by the end of the year because two of its members are scheduled to retire at the end of 2018. Any delay in the preliminary steps can therefore leave the commission short of quorum and unable to make any decisions until replacements are screened and appointed.

It should be remembered that the decision to hire a third-party to score dispensary license applicants was made after the licensing process for marijuana cultivators earlier this year was dogged by numerous complaints.

The 5-member Arkansas Medical Marijuana Commission had reviewed the applicants for cultivation licenses and had selected five companies out of the 83 applicants. The unsuccessful applicants complained that the commissioners were biased and didn’t make any attempts to verify some of the claims that were made by the firms which had applied for licenses to grow marijuana for medical purposes.

It was therefore decided that external help be procured when applications for dispensary licenses are being reviewed so that similar controversies are avoided. All eyes, including those of Global Payout, Inc. (OTC: GOHE) and Golden Developing Solutions, Inc. (OTC: DVLP), are now on Public Consulting Inc. to see how quickly they can push the process which will see patients finally getting access to medical cannabis after a long wait that began in 2016 when voters amended the constitution to decriminalize medical marijuana.

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Public Acceptance Fuels Growth of CBD and Support Industries

CannabisNewsWire Editorial Coverage: Growing public acceptance of medical marijuana is having secondary effects on other industries.

  • Products using cannabidiol (CBD) are increasingly popular in areas such as wellness and cosmetics.
  • Hemp production is growing, with experimental projects improving cannabis cultivation techniques.
  • Services needed to support these markets, such as payment systems, are growing.

Marijuana Company of America, Inc. (OTC: MCOA) (MCOA Profile) is benefiting from this in many ways, having invested in hemp, CBD products, rentable cultivation space and payment systems. Tilray, Inc. (NASDAQ: TLRY) is producing CBD oils and has become one of the first companies to sell these for medical use in the United Kingdom. Canopy Growth Corporation (NYSE: CGC) has received a massive investment from a drinks company, with the aim of producing CBD-infused drinks. GW Pharmaceuticals Plc (NASDAQ: GWPH) created the first prescription medicine derived from cannabis plants to receive U.S. Food and Drug Administration approval and is now heavily involved in research into using CBD to tackle epilepsy. Such drugs may also become useful for fighting insomnia, the subject of a new study by Cronos Group, Inc. (NASDAQ: CRON).

To view an infographic of this editorial, click here.

Public Acceptance of Medical Marijuana Growing

Attitudes towards cannabis and industrial hemp have shifted significantly in the United States in recent years, reflected by legal changes at the state level. The majority of states have legalized these substances for medical use, and a significant proportion now allow their sale for recreational purposes. Increasing access and legitimacy have encouraged an already existing trend toward more liberal views. As a result, 74 percent of Americans now support legislation that would protect states from federal prosecution for legalizing the drug.

Most tellingly, major companies are looking to tap into the popularity of industrial hemp. Coca-Cola, not a company known for taking great risks, is in talks with a major grower about a potential collaboration. This would involve producing drinks infused with cannabidiol (CBD), a non-psychoactive chemical found in industrial hemp. A growing body of research into CBD’s potential to relieve pain means that it is an increasingly popular part of the industry. As recreational marijuana use is legalized in Canada this month, companies such as Coca-Cola will use that country to develop and market test products that may later be sold in the United States.

Turning Public Approval into Profits

Reports about this shift in attitudes provide inherently useful information for politicians and public health officials. But for businesses such as Marijuana Company of America (OTC: MCOA), this information only becomes useful if they can turn it into profit.

MCOA is doing this by diversifying its activities and expanding upon existing work to strengthen its position within the market. The industry is now about much more than just growing and selling cannabis. It covers industrial hemp, plant processing, support services, technology and a wide range of products, some a long way from the smokable plants many people picture when they hear the word hemp.

The part of MCOA’s work that most obviously benefits from changing attitudes is its hempSMART line of products. These timely products are infused with hemp-derived CBD, the same chemical Coca-Cola is considering putting into drinks. But while it isn’t yet producing beverages, MCOA has found a wide variety of other ways to use CBD.

Most of the hempSMART brand is targeted at the wellness market. Products such as the recently relaunched hempSMART Brain are formulated to improve the well-being of consumers, in hempSMART Brain’s case by helping maintain mental clarity, alertness, focus and concentration. HempSMART has also entered the cosmetic and skin care realm with its hempSMART Face, a CBD facial moisturizer, which aims to refresh, replenish, and restore skin providing long-lasting hydration and balance.

The production and marketing of these products is made easier by the shift in public perceptions of industrial hemp. As it becomes more accepted, even consumers who aren’t interested in the substance itself are sometimes willing to try ancillary products.

Harvesting Hemp

For centuries, hemp was grown as a source of fiber. A plant related to marijuana but without its psychoactive properties, hemp is now seeing a revival, thanks to legal changes in both Canada and the United States.

In a joint venture with Global Hemp Group, Inc., MCOA has set up two separate hemp production projects — one in Oregon and the other in New Brunswick.

The purposes of these projects include increasing understanding of hemp, developing better cultivation methods, and creating improved strains. Staff at both sites are carrying out research, with support from the local government at the Canadian site. This work covers a range of issues important to hemp cultivation, including pest control and improving soil quality. Drones are used to oversee progress in New Brunswick, giving the company a good overview of how crops are progressing.

By gathering data on plants and cultivation methods, MCOA and Global Hemp are giving themselves an important advantage in a growing industry. Hemp fibers can be used to produce cloth and rope, adapting a historically popular use to the modern world. Perhaps more valuable financially, CBD oil can be extracted from the plants, providing biomass for the market. Growing strains with rich CBD content is an important part of the work at the Oregon site, work that could give the companies an edge over their competitors in the strains they grow.

The work on these sites is providing plenty of practical insights and experience, sometimes in unexpected ways. A bean harvester was recently used to harvest crops in New Brunswick, maximizing profits despite higher than normal weed growth. Experts such as Anthony Rushford, who has brought 20 years of experience in hemp breeding and genetics to the Oregon project — have also been recruited to provide insight on relevant issues.

Support Services

The growth of the marijuana, hemp and CBD markets has led to a need for support services. By expanding into these services, MCOA is further strengthening its position.

The company’s significant investment in MoneyTrac Technology represents a similar step toward diversification. MoneyTrac is a pioneer in alternative banking and electronic finance systems, using blockchain technology to power an accessible payment service. This can be accessed anywhere in the world and used by sellers to track their business and ensure legal compliance, as well as to easily take electronic payments.

As the industry grows, it will need technological solutions for the challenges it faces, and MoneyTrac provides one of those solutions. This technology has potential use beyond the cannabis market as a payment system for other under-served businesses. Both business practices and technology are changing as companies adapt to the emerging commercial environment in the United States.

The Commercial Power of Marijuana Derivatives

The growing acceptance of medical marijuana is providing impetus for many businesses within the sector that are exploring the other products these plants can provide.

Tilray, Inc. (NASDAQ: TLRY), a leading medical marijuana company, sells cannabis flowers and extracts to patients and medical providers on five continents. With a strong investment in research and development, Tilray has been creating other products derived from these plants, including a range of CBD oils. As a result, it is one of the first companies to sell CBD oil into the United Kingdom following a high profile legal change that allowed British patients access to these oils for the first time.

Canopy Growth Corporation (NYSE: CGC) is already one of the leading marijuana companies working in Canada, one with extensive deals to make use of that country’s growing market. Canopy Growth has received a significant financial and publicity boost thanks to a recently approved $4 billion investment from American drinks giant Constellation Brands. This collaboration between the two companies is expected to lead to CBD-infused drinks, another innovation within the industry.

A company with 20 years’ experience developing cannabinoid treatments, GW Pharmaceuticals Plc (NASDAQ: GWPH) created the first prescription medicine derived from cannabis plants to be approved by the U.S. Food and Drug Administration. GW Pharma has been carrying out research on the use of CBD in tackling rare and dangerous forms of childhood epilepsy, and recently presented data on this work to the 13th Annual European Congress of Epileptology. This research is creating greater support for the safety and effectiveness of CBD in dealing with these diseases.

Research is widening the number of ways in which cannabis and cannabis-derived products can be used. Cronos Group Inc. (NASDAQ: CRON) recently announced a study to research the use of cannabis in tackling insomnia.

A diversity of products and uses is allowing marijuana companies to grow in strength, providing support services, medicines, research and rented cultivation facilities alongside their core products of cannabis and CBD oils. It’s a path that can only strengthen the industry.

For more information on Marijuana Company of America, visit Marijuana Company of America, Inc. (OTC: MCOA)

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420 with CNW – Connecticut Federal Court Rules in Favor of Employees Taking Medical Marijuana

A federal district court has ruled that a nursing home violated the anti-discriminatory act when it rescinded a job offer to a job seeker who declared that she consumes medical cannabis off-duty and tested positive for THC in a pre-employment drugs test. Medical cannabis is legal in Connecticut where the plaintiff lives and sought to be employed by the nursing home.

The case was filed by the plaintiff last year and judgment was delivered last month, more than a year later. The defendant had tried to get the case dismissed arguing that federal laws allowed them to deny users of a controlled substance employment.

However, the federal district court ruled that the defendant couldn’t cite the Controlled Substances Act since the laws of Connecticut granted protections to patients who had a qualifying condition and were consuming marijuana in accordance with the state laws.

The plaintiff’s request for legal fees and punitive damages was denied by the federal court since the Connecticut law (Palliative Use of Medical Marijuana or PUMA) under which she sued did not prescribe such remedies in its protections for patients on medical cannabis.

The ruling against Bride Brook Nursing and Rehabilitation Center comes at a time when courts had initially ruled against employees on matters of medical marijuana. It is the first time that a federal court is making a decision in favor of an employee.

Other state courts had made similar favorable rulings for employees against employers who took action against them for consuming medical marijuana.

The decision by the federal court isn’t binding on all the other courts, but one can be certain that this case will be a point of reference in any future litigation on similar matters.

In fact, Bride Brook Nursing and Rehabilitation Center can appeal against this decision in order to have it reversed.

The case law on medical marijuana is still scanty since so few states have decriminalized it while it remains illegal at the federal law.

It may therefore be premature for anyone to think that the legal tide is shifting in favor of employees. All the same, it is wise for employers to review their policies regarding marijuana testing as a precondition for employment since they may expose themselves to costly suits that may leave the reputation of the companies in question in tatters.

What can help all concerned is some form of middle ground to be reached between the states where marijuana is legal and the federal level where decriminalization hasn’t occurred as yet. This is certainly the wish of industry players like Earth Science Tech, Inc. (OTCQB: ETST) and FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) who want to see a more uniform regulatory framework.

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420 with CNW – White House Drug Office Promises Objective Marijuana Study

The news reports more than a month ago to the effect that the White House Drug Office had asked 14 federal agencies as well as the DEA to collect and submit data showing the negative effects of marijuana legalization in different states has attracted a backlash which has forced a senior official from the Drug Office to reassure those concerned that the marijuana policy panel will not be subjective as it looks into the impact of cannabis decriminalization in several states across the country.

This clarification was revealed by Senator Michael Bennet from Colorado, one of the first states to decriminalize pot. Senator Bennet disclosed that he had contacted James Carroll (deputy director White House Drug Office) about concerns regarding the attempts to spread negative propaganda against marijuana.

Media reports had suggested that a secret committee had been established to gather data which could be used to portray marijuana as a “national threat” as a way of pushing back against its growing popularity and the wave of decriminalization which is sweeping across the country.

James Carroll clarified that the committee set up would conduct a dispassionate review of cannabis without any preconceived conclusions.

Senator Bennet reaffirmed that the data-driven decisions that were made in Colorado would not be watered down by any propaganda by the feds.

It is only fitting that Colorado takes the lead in calling out any force that is trying to smear marijuana since the state was one of the first two to decriminalize marijuana.

This news comes at a time when contradictions are emerging about how different law enforcement agencies regard cannabis.

For example, LA International Airport issued a press release announcing that it would allow travelers to pass through the airport with marijuana.

However, such people would have to run the gauntlet of TSA since all checkpoints are the jurisdiction of the federal agency. TSA revealed it would refer any matters of cannabis to local law enforcement who are at liberty to decide what to do about the situation. Passengers could be delayed or even miss their flight while these institutions engage in this ping pong.

Another scenario has to do with how Customs and Border Protection regards participants in the legal pot industry. The feds see them as drug traffickers while the states or countries from which they originate treat them as a legitimate industry. This difference of opinion leaves individuals uncertain about what will come next.

It is therefore hoped that the U.S. federal government will review its position and make a decision that harmonizes how marijuana is regarded across the nation. ChineseInvestors.com (OTCQB: CIIX) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) must be waiting with bated breath for the day when marijuana will be regulated by a uniform set of laws across the U.S.

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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 – U.S. Feds Confirm Canadians Involved in Legal Marijuana Industry Not Welcome

It is just days before recreational cannabis becomes legal throughout Canada but difficulties are already shaping up regarding how this legalization will affect Canadians who wish to travel to the U.S. The Customs and Border Protection (CBP) service has confirmed that steps will be taken to bar people who are involved in the Canadian marijuana industry from entering the U.S.

CBP’s confirmation comes at a time when numerous media reports emerged about individuals who were handed lifetime bans from entering the U.S. as a result of their investment interests in the cannabis industry.

Customs and Border Protection is simply enforcing the U.S. federal government position that marijuana is a controlled substance that has no medical value and has a high potential for being abused. The feds therefore don’t recognize the marijuana industry as a legitimate business or industry. Anyone involved is regarded as a drug trafficker just like those found with heroin and other such drugs.

Some of the consequences of being found with cannabis or admitting to an involvement in the cannabis industry may include being fined and/or having your cannabis seized, arrests and bans on admission into the U.S.

CBP officials also warned that Canadians should not be tempted to lie about their involvement in the cannabis industry either as investors or consumers since such misrepresentations will carry serious consequences once discovered. The stored data on any affected persons will be kept and referred to in future when those people try to reenter the U.S.

It is still unclear how the Customs and Border Protection agents will screen Canadians entering the U.S. CBP itself admits that not everyone will be questioned about cannabis, but questions may arise when a person is found with cannabis or when the smell of cannabis is detected in the car of the person at an entry point.

Congressman Lou Correa has written to Homeland Security asking its head to clarify a number of issues regarding the implementation of CBP’s position on Canadians involved in the legal marijuana industry. For example, how will the agents determine that someone at the entry point is a participant in the cannabis industry?

People who are handed a lifetime ban can apply for that ban to be waived for a while. That waiver comes at a cost of $585 (not including the person’s legal fees). It isn’t yet clear how long it can take for that waiver to be processed.

Canadian citizens are beginning to get a taste of what companies like TransCanna and VIVO Cannabis Inc. (TSX.V: VIVO) (OTC: VVCIF) have to deal with as they expand from one jurisdiction to another.

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420 with CNW – Thousands of Marijuana Plants Seized in California Forest

The office of the San Bernardino County Sheriff recently announced that they had seized more than 10,000 cannabis plants that were growing in the San Bernardino National Forest. The plants were in three large plots that appear to have been cultivated by members of a drug trafficking gang.

There was evidence that people were living around the cannabis plots in order to tend to those plants. Camping gear and trash was found where the plants were found by a combined force from the U.S. Forestry Service, the County Sheriff’s Office and the Department of Fish and Wildlife. These law enforcement agencies were collaborating under a program called CAMP (Campaign Against Marijuana Planting).

The marijuana plants were in plots located in Marble Canyon, East Fork Canyon and Arctic Canyon.

Police said that the drug traffickers cleared the forest in order to plant the marijuana. Such actions cause irreparable damage to the forest cover. The toxic pesticides and the fertilizers which are used in such activities also seep into the ground and pollute the water as well as the wildlife there.

The press release didn’t reveal who the suspects in this seizure were, but the public was urged to report any other marijuana plots they see as they hike through the forest or any other secluded areas. Callers could provide tips anonymously or reveal their identities if they so wished. Different contact numbers were also provided in the press release for those willing to provide information regarding the illegal growing of cannabis in the forest or anywhere else.

The investigators asked hikers to be cautious since there is a risk of being harmed by criminal organizations that participate in such illegal growing of cannabis. It was therefore better to stick to the marked hiking trails or to take precautions, such as moving in groups, when branching off the marked trails during a hike.

People who grow marijuana illegally see the National Forest as an attractive location since it has several of the ideal conditions they desire. The first requirement is seclusion so that the illegal activity can remain undetected for long. Secondly, the forests have naturally fertile soils and springs which can make it easier to grow the cannabis.

Those conditions will keep attracting more drug trafficking organizations to the forest, so the latest seizures are unlikely to be the last. Perhaps the authorities need to find ways to make legitimate cannabis businesses like Cannabis Strategic Ventures, Inc. (OTC: NUGS) and Canopy Rivers Inc. (TSX.V: RIV) offer their products at such a low price that the risk of growing cannabis illegally will no longer be worth the possible gains from such an illegal activity.

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420 with CNW – New Hampshire Raises Its Marijuana Revenue Projections

The Department of Revenue Administration in New Hampshire has revised its estimates of cannabis revenue upwards to $58 million annually if the products are taxed at 15%. These estimates come at a time when a committee is discussing a proposals to legalize recreational marijuana next year.

Why would the state be interested in how much it will earn from cannabis sales? Legislators want to know whether the taxes generated from the marijuana industry would, at a bare minimum, meet the high cost of regulating the industry.

The figures released by the Department of Revenue Administration suggest that the taxes collected from cannabis sales would more than meet the cost of regulation. The $58 annual revenue projection was arrived at after using the modeling information provided by a study which was done in New York.

That information provided more pricing and usage pattern data to rely on than was available when the Department of Revenue Administration in New Hampshire released its earlier projection of $41.6 million a year in December last year.

However, there are a number of variables that could swing the actual revenues significantly in either direction. For example, the model used to project how much can be earned could not determine with a high degree of certainty how many people would consume cannabis once it is decriminalized.

The existence of a marijuana black market can’t be ignored as well. How many people will prefer to get their marijuana from the black market instead of through the regulated supplies? The outcome of that decision will impact the state’s earnings from cannabis sales.

Similarly, some people may opt to purchase their cannabis from sources outside the state. Many reasons, ranging from price differences and perceived or actual product quality issues, can drive some people to purchase marijuana from elsewhere. The magnitude of people who take that option will also have an impact on the revenues generated for the state.

The revenue projections were sent to a special commission which was set up to plan how marijuana will be regulated, taxed and legalized. The commission is expected to have their report ready in November.

The report to be released is likely to be comprehensive since the commission was drawn from a broad cross-section of the state including law enforcement, legislators, anti-marijuana advocates and members of the medical profession. Any agreement reached by such a diverse group is likely to carry the day when the proposal is finally voted on by legislators.

The Flowr Corporation (TSX.V: FLWR) and The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) must be wondering why the U.S. feds don’t take charge of marijuana decriminalization instead of standing by as each state passes its own legalization laws that will eventually force the federal government to toe the same line.

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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 – First Medical Cannabis Kitchen Due to Open in Arizona

The Mint Dispensary in Arizona is scheduled to open the first medical cannabis kitchen in the United States. This kitchen will open its doors to the public on October 5. Customers can order breakfast, lunch, dinner or snacks at the kitchen. An espresso bar and a juice bar will also be open at the full-service kitchen.

However, only individuals who have a medical marijuana card issued by the state of Arizona will be welcome to the establishment from 8 am to 10 pm every day of the week, weekends inclusive. No consumption will be permitted on the premises in order to prevent patrons from driving under the influence of any psychoactive ingredient which may have been included in the meal ordered.

Mint Dispensary realized that there was an unmet demand for cannabis-infused wholesome meals since only prepackaged items were available on the market. This gap gave the dispensary CEO, Eivan Shahara, an idea of preparing fresh foods that can address the nutritional and medicinal needs of customers.

The food and beverages available at the kitchen will have varying concentrations of cannabis so that visitors can choose the concentration that is suitable for their medical needs as they enjoy a meal, snack or drink.

For breakfast, patients with medical cannabis cards can order Donut Holes, Blueberry Muffins, Banana Bread, Apple Fritters, Scones and other offerings. These can be bought as standalone items or combined with coffee.

For lunch or dinner, patrons can select from Street Tacos, Artisan Burgers, Fries, Pizza, Hatch Chile Macaroni and cheese among others.

Carylann Principal, the Executive Chef overseeing the kitchen, says that the meals will be outstanding since they will be at the intersection between science and art. Chef Principal is a cancer survivor who is passionate about providing wholesome food that is also medicinal.

As the cannabis industry continues to evolve at a fast pace, more offerings beyond what is currently planned for the cannabis kitchen at the Mint Dispensary will be introduced. For example, the kitchen intends to start making home deliveries somewhere in the near future in addition to providing “medicated” catering services for funerals, weddings and other special events.

It remains to be seen what sort of challenges this new service by the dispensary will face. For example, can they be held responsible in case a takeout meal is consumed by someone other than the holder of a medical marijuana card? Such scenarios may or may not have been discussed with the regulators prior to granting the establishment a license to open the kitchen.

Youngevity International, Inc. (NASDAQ: YGYI) and BLOCKStrain Corp. (TSX.V: DNAX) (OTC: BKKSF) must be applauding this bold innovative step taken by the team at Mint Dispensary.

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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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Intangible Assets Power Growth, Acquisitions in the Pharmaceuticals Sector

CannabisNewsWire Editorial Coverage: Intangible assets such as patents increasingly dominate the global business landscape, especially in the pharmaceutical sector.

  • Intangible assets are estimated to be worth trillions of dollars in the United States alone.
  • These assets drive deals as companies acquire smaller patent holders.
  • In growing sectors such as cannabis, smaller companies are rushing to establish intangible assets ready for expected market growth.

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) (LXRP Profile) is one of the leaders in the world of cannabis, with applications made for more than 50 different patents and more to come. Tilray Inc. (NASDAQ: TLRY) is also focusing on building its intellectual property (IP) portfolio, including exclusive rights to at least 22 issued or pending patents. In wake of receiving FDA approval of its Epidiolex® (cannabidiol) oral solution for the treatment of seizures associated with two rare and severe forms of epilepsy, GW Pharmaceuticals Plc (NASDAQ: GWPH) has applied for five new Epidiolex patents. Recently Canopy Growth Corporation (NYSE: CGC) announced that it has, alone or with its subsidiary or joint-venture partners, filed eight provisional U.S. patents pertaining to the delivery and application of cannabis and cannabinoid-based therapeutics. And through its ownership of CanniMed, Aurora Cannabis, Inc. (OTCQX: ACBFF) has obtained six patents related to cannabinoid delivery for pain management.

To view an infographic of this editorial, click here.

The Power of Intellectual Property

Intellectual property is now one of the most important parts of the global economy. Copyrights, trademarks and patents are a vital weapon in the arsenal of many businesses. For some companies, this is a secondary consideration, a way to strengthen and protect their positions within their fields. For others, it’s their entire focus — a way to dominate a sector or provide valuable returns.

The power of IP means that no part of the economy goes untouched. New industries often arise off the back of new IP. Even when that’s not the case, the development of new techniques and technologies frequently lead to the creation of patents, as companies work to innovate and control techniques that give them an edge over their competitors. For relatively new sectors, such as the cannabis market, this means the sudden flourishing of IP and a race by companies to stake their claim on these valuable assets. As a sector matures, so will its IP market.

The Value of Intangible Assets

Patents are a big part of business for companies such as Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), for whom developing and protecting new technology is fundamental to success. Whether it’s underlying technology such as DehydraTECH, the company’s system for increasing the body’s absorption of chemical compounds, or specific products derived from DehydraTECH, such as TurboCBD, Lexaria’s success is founded on its distinctive IP.

IP is part of a wider sector of the economy — intangible assets. This is the wealth provided not by physical assets and the processes that directly transform them but by less visible, more abstract resources. It includes IP, whose value is often examined and measured, as well as harder-to-pin-down elements such as business processes and reputation.

These factors have always played a part in business, but their growing recognition and analysis has led to the growth of companies whose main focus is on intangible assets, from investment research firms and reinsurers to patent licensing and enforcement companies.

Representing around a third of the U.S. economy, intangible assets are now consciously analyzed and developed by virtually every business, even if they don’t recognize the “intangible asset” label. Companies with a solid focus on these areas can place themselves in positions of great strength.

Patents in a New Sector

The speed at which intangible assets can develop is well illustrated by movements in the cannabis sector, where many of Lexaria’s patents apply.

The legal global cannabis market started to emerge only recently, thanks to a handful of countries allowing medical marijuana. The market has started to mature through a small but growing number of territories with legal markets for recreational cannabis, as well as the separate management and licensing of industrial hemp. Legal cannabis is now a multibillion-dollar business. Although Lexaria’s technology has other profound drug delivery applications, cannabis is where it looks set to have the most immediate impact.

This has led to a rush to control intangible assets around cannabis. It’s noteworthy that Chinese companies own more than half of the cannabis-related patents registered with the World Intellectual Property Organization, even though the cannabis trade remains illegal in China. China has a good eye for long-term developments and is setting itself up to control a growing global trade.

Outside of China, Lexaria is one of the world’s biggest holders of cannabis patents with eight patents already granted. The company currently holds four patents in the United States and four in Australia, covering aspects of its work to make beneficial drugs more palatable and effective. In addition, the company has further patent applications in process in more than 40 countries as part of a concerted strategy to expand its patent portfolio. This is made possible by the focused, tangible research and development being carried out by the company and is ultimately driven by the need to develop and control intangible assets.

Lexaria has disclosed it expects four more patents to be granted in 2018, bringing its total to twelve. Of note, all twelve of these are within a single patent family — and Lexaria expects patent success across all nine families of its current applications. Indeed the company recently revealed that it has seven more patent families in the works. Lexaria’s goal is to have some 200 patents pending or granted which, if achieved, could turn the organization into an IP behemoth in the global cannabis industry.

The Value of Patents

The commercial value of patents, even those still pending approval, can be extraordinary, reaching billions of dollars. In 2011, Nortel sold 6,000 patents and patent applications for $4.5 billion. The following year, AOL sold 925 patents to Microsoft for more than a billion dollars. While some companies develop patents purely to protect their work, others develop them specifically to be sold.

This focus on intangible assets drives many mergers and acquisitions. The Craftsy digital network developed online shows such as “Man about Cake” with a focus on audience rather than immediate profit, leading to the company’s acquisition by NBC Universal. The intangible assets of the company’s identity, reputation and audience had become highly valuable in themselves.

Similar priorities can be seen on a far larger scale in SoftBank’s $31.4 billion acquisition of chip designer ARM Holdings, or roughly $7 million per patent or patent application. ARM’s revenues were only $1.5 billion per year, but its 4,500 patents cover technology of potentially incredible value. In just three years, the desire to control patented drugs and processes in the healthcare sector overall resulted in 58 mergers and acquisitions with values of a billion dollars or more.

In Lexaria’s field of pharmaceuticals, patents are crucial, representing both the outcome of years of R&D and also potential market share and control in the emerging global cannabis business. Lexaria is attempting to own enough IP in the global cannabis industry that patent royalty revenues begin to flow worldwide.

Because patents are among the most valuable assets a company can own, a small investment in research now may pay off in a huge way in years to come. In a sector with such huge growth potential as cannabis, Lexaria’s IP portfolio may generate cash flows regardless of whether other companies intend to license the technology or not; by owning core IP, other companies may be forced to pay royalties. If Lexaria’s goal of owning hundreds of issued patents becomes a reality, the company’s patent portfolio could have huge ramifications on its valuation.

Powered by Intellectual Property

Lexaria isn’t alone in its commitment to strengthen its IP collateral. Tilray Inc. (NASDAQ: TLRY) is also focusing on building its IP portfolio including exclusive rights to at least 22 issued or pending patents. Tilray CEO Brendan Kennedy has observed that if cannabis companies are going to move forward, they’ll need to develop IP in both the medicinal and recreation aspects of the cannabis spectrum.

GW Pharmaceuticals Plc (NASDAQ: GWPH) has established a leading position in the development of plant-derived cannabinoid therapeutics through its intellectual property portfolio, proven drug discovery and development processes, and regulatory and manufacturing expertise. The company successfully developed the world’s first prescription medicine derived from the cannabis plant.

In addition to the eight provisional patents it has filed, Canopy Growth Corporation (NYSE: CGC) has updated applications relating to earlier insomnia patent applications, bringing its total number of U.S. provisional patent filings to 39. The filings are part of a concerted plan by Canopy Growth to deliver to patients and healthcare providers innovative medicines and health products targeting disease areas with substantial medical needs.

Aurora Cannabis, Inc.’s (OTCQX: ACBFF) pain-management patents are only part of the company’s commitment to creating a stronghold in the cannabis market. Aurora has become one of the fastest-growing cannabis companies, as evidenced by Aurora Sky, the company’s 800,000-square-foot flagship facility; by launching the world’s only mobile app for ordering medically prescribed cannabis; and by being the only LP to service two metropolitan areas with same-day delivery.

With so much value placed on intangible assets, patents are fueling growth and acquisitions worth billions of dollars. In the pharmaceutical sector and beyond, patents definitely appear to be where the big money is.

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 – LA International Airport Allows Travelers to Carry Marijuana

Los Angeles International Airport announced that passengers were free to have cannabis on them or in their luggage when boarding flights as long as it didn’t exceed the amount allowed by California law. Currently, 28.5 grams or 8grams of concentrated cannabis (oil, for example) can be carried by someone within the state. This only applies to people who are 21-years of age or more.

However, individuals who are carrying cannabis legally may still face prosecution once they are discovered by the Transport Safety Administration (TSA) agents at the airport. The TSA is obliged by law to notify local law enforcement (police) once someone is found with marijuana.

It is up to the police to decide whether to prosecute that person, seize the marijuana, or let the person board his or her flight. LA police has already said they will not prosecute anyone who hasn’t exceeded the legal limit of how much someone can carry.

This doesn’t mean passengers will not suffer any inconveniences. The interview by TSA agents before one is handed over to local police may make that person miss his or her flight even if the possibility of prosecution is waived by the police.

A lot of confusion is likely to result from the conflicting rules being followed by the Transportation Safety Administration and the local police.

Passengers are better off avoiding having any cannabis on them when they go to the airport. This will save them from finding out the hard way the kind of delays and back and forth issues that can arise when pot is found on you.

Passengers are also advised to keep in mind the laws of the different states through which they intend to travel since what is legal in one state may be criminal in another state.

A city councilman in LA has even suggested that so-called amnesty bins be availed at the airport so that passengers can place their marijuana in the bin before they get to a TSA checkpoint.

That idea isn’t as far-fetched as it may sound, because Las Vegas has about two dozen such bins at the McCarran International Airport.

The amnesty bin idea has its weaknesses because it means that a passenger will lose his or her legally purchased stash. The better option would be to harmonize the federal airspace rules with the rules in each state so that passengers aren’t left at the mercy of the individual officers who find cannabis in their luggage or on their person.

The contradicting positions of TSA and local police regarding cannabis clearly highlight the challenges that companies like Sugarmade, Inc. (OTCQB: SGMD) and Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) have to grapple with in the different jurisdictions where they have operations.

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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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