As the state-legal cannabis industry continues advancing in both scientific knowledge and market share, one thing that has become clear is that cannabis today is a lot stronger than it used to be. Studies have found that marijuana in circulation today, both legal and illegal, is up to 5 times stronger than it was in the eighties, and this has raised serious questions on the effect of more potent weed on the body. According to a study of regular cannabis users published by the University of Colorado Boulder in JAMA Psychiatry, smoking high potency marijuana concentrates doesn’t necessarily make you higher.

After studying regular cannabis users who smoke high potency marijuana concentrates and those who smoked regular weed, researchers from the university found that while it did boost THC levels in the blood to more than twice as much as smoking conventional marijuana, it did not make the subjects ‘higher.’ “Surprisingly, we found that potency did not track with intoxication levels. While we saw striking differences in blood levels between the two groups, they were similarly impaired,” says lead author Cinnamon Bidwell, an assistant professor in the Institute of Cognitive Science.

As cannabis is still illegal at the federal level, researchers are prohibited from handling or administering marijuana, so the team from the University of Colorado Boulder had to think outside the box. They used two white Dodge Sprinter vans dubbed the ‘cannavans’ to visit study subjects at their place of residence, where after purchasing their own cannabis and using it in their own homes, the subjects walked out for tests. Bidwell and her colleagues assessed 121 regular cannabis users, half of whom typically used concentrates and half who typically used flowers from the plant.

Flower users were instructed to use flower with either 16% or 24% THC and concentrate users were assigned a product with either 16% or 245% THC. At three time points, that it before, directly after and an hour after they used, researchers drew the subjects’ blood, measured their mood and intoxication level, and assessed their cognitive function and balance. THC levels in concentrate users spiked to 1,016 micrograms per milliliter a few minutes after use while in flower users they peaked at 455 micrograms per milliliter.

Despite this difference in THC blood levels, both groups had a relatively similar level of impairment. “People in the high concentration group were much less compromised than we thought they were going to be. If we gave people that high a concentration of alcohol it would have been a different story,” says Kent Hutchison, co-author of the study and a professor of psychology and neuroscience at CU Boulder who also studies alcohol addiction. The team of researchers hopes to learn the possible long term effects of THC-potent concentrates.

“Does long term, concentrate exposure mess with your cannabinoid receptors in a way that could have long term repercussions? Does it make it harder to quit when you want to? We just don’t know yet.”

The findings of this study are likely to have taken everyone, including The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF), by surprise since it has always been assumed that the more intoxicants one takes, the more impaired they are likely to become.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Last year, Bermudan lawmakers released a draft bill aimed at creating a legal cannabis program and asked the public to offer pertinent feedback. The draft legislation was met with criticism from the public as people felt it imposed excessive regulations, and they argued that the territory should legalize marijuana altogether for adult use. On Wednesday, the government of Bermuda released a draft bill to establish a legal marijuana market, and it is again seeking feedback from the public.

Under the proposed bill, adults 21 and older would be able to possess and purchase up to seven grams of marijuana from licensed retailers. The bill would require the creation of a Cannabis Advisory Authority, and it would be responsible for issuing licenses and regulating the market. Cultivation, retail, research, import, export, transportation, and manufacturing licenses will be up for grabs, and individuals with prior marijuana convictions will not be denied access.

According to a summary of the bill, fees for the licenses would be designed to help stimulate the industry while making them affordable enough for ‘under-served and marginalized communities.’ People with prior convictions for possessing seven grams or less of marijuana would also be eligible for expungement of their criminal records.

“Surprising for some, public attitudes have evolved apace with global legislative reforms, and in recognition that opening up pathways for new economic opportunities and activity is needed,” said Attorney General Kathy Simmons in a video on the proposal. The government is requesting public input on the proposed legislation up until July 3. A prompt on its website asks individuals seven specific questions that the government needs feedback on, including licensing requirements and penalties.

“The government has made a commitment to progressively liberalize cannabis laws in Bermuda and to create economic opportunities for citizens wishing to participate in a regulated cannabis scheme,” states the website. “The Government again wishes to ‘take it to the people’ by commencing a one-month public consultation exercise on the proposed scheme.”

In her video, Attorney General Simmons said that the government plans to move ahead with a more simplified, regulated, cannabis scheme, which builds on the strength of the original medical cannabis policy and which embraces the public feedback. “The revised proposal will provide for a regulated cannabis program which has been hybridized to meet Bermuda’s requirements while modeling the best available legal provisions in Canada, both Provincial and federal and to a lesser degree, examples from the Caribbean.”

One would be forgiven for imagining that industry players like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) long for the day when the U.S. federal government conducts a similar consultative exercise geared at legalizing marijuana federally.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Last month, Uruguay-based Fotmer Life Sciences exported a large shipment of medical cannabis to Portugal. This came about six months after Fortmer shipped one metric ton of high-THC cannabis flower to the same country. The 2019 shipment of high-THC flower was believed to have been the largest ever amount of cannabis flower exported in a single shipment, but weighing in at 3,133 pounds, the May shipment takes the cake.

According to Uruguayan documents dated May 19, 2020, the declared customs value of the latest shipment was about $2 per gram, including costs, insurance and freight. Although no company has publicly taken responsibility for importing the shipments into Europe, it could spur other European importers to follow suit and turn to Portugal for high-THC cannabis. Fortmer Life Sciences has exported roughly 6,613 pounds of cannabis flower since last October, making Uruguay one of the few countries exporting large quantities of the product.

Netherlands is undeniably the one of biggest exporters of cannabis flower in the world, having exported a total of 9700 pounds of cannabis in 2019. However, unlike the shipments from Uruguay, the Dutch exports were processed in a European Union-Good Manufacturing Practice (EU-GMP)-certified facility. According to Fortmer CEO Jordan Lewis, the company produces in facilities certified with Good Agricultural and Collection Practice (“GCAP”) and Uruguayan-GMP certification.

“As has been demonstrated by Fortmer as well as other companies, the pathway for GCAP product as an input into an EU-GMP supply chain is both viable and cost effective,’ he says, adding that the firm has the ‘near-term goal of achieving EU-GMP certification.’ He says that he cannot comment on the identity of the European buyer, but whoever they are, they are effectively paving the way for other medical cannabis companies to export into Europe without first obtaining EU-GMP certification.

It goes without saying that the cannabis has to be grown and harvested under certain quality standards and processed in an EU-GMP facility in Europe, of course. “We are OK with the large public companies competing at the point of sale through branding initiatives while we provide private label and contract cultivation solutions to those myriad competitors,” Lewis says.

It would not be the first time non EU-GMP flower exported from Uruguay is being used to manufacture extracts for medical use in an EU-GMP facility. As Karina Lahnakoski, partner in Rick Advisory at CCI Deloitte in Canada says, “the application of GACP versus EU-GMP, and where in the process GACP transitions to GMP, is a subject that is still debated in industry.”

“A full understanding of the supply chain and the jurisdictional requirements is required to apply the right quality controls.”

Analysts say industry actors like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) are glad that the cannabis industry has grown to the level where intercontinental trade in the plant matter is now possible as shown by the Uruguayan exports.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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2020 will without a doubt go down in history as one of the most challenging years of the century. It started with the discovery of a novel coronavirus in Wuhan, China in late 2019, and snowballed into a global health and economic crisis that we will take years to recover from. The pandemic has led to an economic downturn of immense proportions, with the U.S. suffering Great Depression-era levels of unemployment.

The crisis has hit most businesses hard, especially those in the tourism and hospitality sector. The state legal cannabis industry was declared essential by most states, allowing them to remain open during the lockdown. However, it hasn’t been smooth sailing, and quite a number of multistate marijuana operators have been unloading assets, cutting overhead costs and scraping plans for expansion.

Other MSOs haven’t had it so bad, and they’ve been able to weather the crisis a lot better than their counterparts have. Why is that? For starters, preparedness is key, and most of the multistate marijuana operators that are doing well had a capital and cash-flow cushion of at least two years. Illinois-based Cresco Labs, for example, had a 70 month cushion while Florida-based Trulieve had a cash coverage of 44 months.

This gave these firms a parachute to use once lockdown orders were issued and the economy slowed to a crawl. On the other hand, MSOs that had less than a year of cash coverage had to quickly raise more money or they would have cash flow issues. Additionally, struggling MSOs seem to have weak competitive positions in markets, and this put them in a vulnerable position once the pandemic hit.

According to Mike Reagan, an equity analyst and managing member of Denver-based MJResearchCo, it’s important for a company to have a dominant or strong position in the markets rather than be a small player in many markets. “Ideally, you want to dominate a lot of markets, but that’s hard in cannabis because each market is different.”

Finally, MSOs that are thriving centered their expansion plans on realistic expectations based on ROI. Tons of cannabis companies spent 2017-2019 acquiring assets and expanding their capacity, and most of it was financed by investors who were not concerned with an immediate return on their investment. Instead of focusing on reasonable goals and working on investment payback, they burned through cash so they could be able to claim they were growing through “massive news announcements,” says Lee Dorkin, founder of Colorado-based Emprouen Advisors, a cannabis management and consulting firm.

“But that’s absolutely the wrong approach and why we have a trail of failed MSOs at our feet right now.”

Industry watchers assert that companies like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) are closely analyzing how different MSOs are faring in order to learn and implement vital lessons going forward.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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The novel coronavirus first appeared late last year in Wuhan, China, and in a little over five months, has brought the entire globe to its knees. With more than 5.5 million confirmed infections and at least 350,000 lives lost, the virus has thrown the world into disarray, with most governments issuing lockdown and stay at home orders to curb its spread.

Unfortunately, experts say we may be stuck dealing with the pandemic for up to two years and that even with a vaccine, it may never go away. The pandemic has placed a massive strain on supply chains, leading to shortages, especially in personal protective equipment such as masks. And since all kinds of essential workers, from nurses and doctors to grocery store clerks and delivery drivers absolutely need masks to avoid infection, this is an issue that needs to be addressed.

Enter hemp masks. The non-psychoactive cousin of cannabis has been a go-to option for sustainable alternatives for the past few years, and it lends itself well to this new challenge. Hemp fabric is quite durable, and it has natural antimicrobial and antibacterial properties that enable it to stay fresh during long wearing sessions.

LoveBad Organics and The Hemp Cooperative (THC) partnered and created an organic hemp face mask with cotton ties. They come in black or a reversible black and white option, are comfortable and easy to wear, and are machine washable.

According to Daniel Ong, co-founder of LoveBad Organics, the other founder Brittany “woke up to this palpable realization that masks are going to be standard and that we should contribute towards the production to supply our friends at our local supermarkets.”

“Prior to the pandemic,” he says, “I had small talks with my twin brother Dany, a co-founding member of The Hemp Cooperative. Shortly after the pandemic took off, he made a prototype, showed it to me, and proceeded to go into production.” The hemp masks are manufactured in the U.S. from organically grown hemp carefully sourced from China.

The brands hire mostly single mothers and senior citizens as seamstresses, and they are paid a higher than normal wage to help them weather the pandemic. Ong says that the reception to the hemp masks has been positive, with a number of supermarket employees reaching out to say that the masks are perfect for their needs.

“If there is a responsibility that hemp brands should take on, perhaps it’s purely to stay in business during these times so that we may continue the momentum that the hemp community has powered over this past decade.”

This is the kind of innovation that makes cannabis companies like Round Meadow Holdings Corp. and The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) so proud of this versatile plant whose full benefits seem to be limitless.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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On Friday, the Louisiana House of Representatives overwhelmingly approved bills that would significantly expand the state’s medical cannabis program. Residents suffering from debilitating conditions, especially those who cannot access medical marijuana, will now be happy to know that the medical marijuana program will have its list of qualifying conditions expanded to fit a wider range of ailments. Dispensaries will also be allowed to deliver marijuana products directly to the patients’ homes.

Both bills were sponsored by Rep. Larry Bagley, with his medical condition expansion bill passed 76-15 and the delivery bill was approved 80-15. This comes a week after a Louisiana House Committee approved both bills as well as several other cannabis expansion bills and sent them to the full House for debate. In a broad sense, the expansion bill will permit doctors to issue recommendations for any debilitating condition instead of the short list of conditions that is currently allowed by law.

When it was originally drafted, the expansion legislation would have simply added traumatic brain injury and concussions to the list of qualifying conditions. However, it was amended in the committee to add several other conditions and language that states cannabis can be recommended for any condition that a doctor “considers debilitating to an individual patient.” Currently, Louisiana has a list of 14 conditions including cancer, epilepsy, severe muscle spasms and Parkinson’s disease that qualify one for a medical marijuana prescription.

“I’ll say this, I have never been a proponent of medical marijuana. I voted against every piece of legislation that came down because I just didn’t believe in it and I thought there was an ulterior motive. But now, constituents in my area, they come to me and they ask me for help because they’re having pain, they can’t find things to cure the pain. They’re using opioids, some of them, they’ve got problems that the doctors can’t seem to help. So this is just another avenue. Now their personal physician can write them a prescription for cannabis and they can get it. Who knows you better than your personal physician? I thought it made perfect sense,” says bill sponsor Bagley.

The cannabis delivery bill, on the other hand, would require the government to establish “procedures and regulations relative to delivery of dispensed marijuana to patients by designated employees or agents of the pharmacy.” Both bills now head to the State Senate for consideration.

Analysts believe that industry players like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) are hoping that the state senate thinks about the plight of patients with debilitating conditions and approves the two bills.

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Despite being illegal under federal law, cannabis has been legal in a number of states for a while now. Advocates for legal cannabis can talk about the benefits of legalization for days, but one of the main benefits has always been the potential for tax revenue. Like alcohol, the demand for cannabis is almost constant, and states that have legalized it have the potential of earning millions in sales revenue.

Arkansas’s first dispensary opened in May last year, and nearly $75 million and 12,000 pounds worth of medical marijuana has been sold since, according to the Arkansas Department of Finance and Administration. What’s noteworthy is that nearly half of the sales have been in the last two and a half months.

Roughly 40% of overall sales have occurred since March 1, 2020, with marijuana dispensaries selling $29.92 million since the coronavirus crisis began in March. “To put this in perspective, it‘s been one year since the first dispensary opened in May 2019 and 40% of the total sales for the year have taken place since March 1,” says Scott Hardin, Director of Communication at the Arkansas Department of Finance and Administration.

“We anticipate that the significant increase in sales over the last two months is directly related to COVID-19. When the CDC recommended citizens maintain at least a two week supply of prescription medication, it looks like medical marijuana patients in Arkansas took action on that guidance beginning in mid-March.

There was initially an assumption it may be a one-time spike but that has not been the case. Sales have remained extremely strong since that time,” says Hardin.

Dispensaries are also reporting that more patients are consistently making the maximum purchase, 2.5 ounces every 14 days. “Considering the price averages just below $400 an ounce, the maximum purchase may be more than $1,000 every two weeks.”

The state is home to 22 medical marijuana dispensaries, and another 11 are set to open over the next several months. According to Hardin, projections are for sales to exceed $100 million.

Aaron Crawley, owner, and CFO of The Source, a Bentonville-based dispensary, says the spike in sales is definitely related to the coronavirus outbreak. His dispensary was first opened on August 15 and has sold 977.73 pounds of medical marijuana. Due to current circumstances, the dispensary has rolled out a couple of health measures.

“Due to high demand and adherence to social distancing requirements, we’ve switched exclusively to online ordering and a maximum of three individuals in the lobby at a time. To accommodate high volumes of guests safely we have them check in with their names and wait in their cars until their order is ready. Even so, the majority of our guests are simply grateful that we’re open.”

Industry watchers say this strong trend of cannabis sales is good news to other players in the sector like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) who believe the industry can be the key to reducing the adverse effects of the economic downturn during and after the coronavirus pandemic.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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