420 with CNW — Bipartisan Lawmakers Express Concern About Persisting Barriers to Marijuana Research

Two bipartisan Congress lawmakers have expressed serious concerns about the slow progress in implementing a measure that President Joseph Biden signed into law aimed at simplifying cannabis research procedures.

Representatives Andy Harris from Maryland and Earl Blumenauer from Oregon sent a letter to the heads of the U.S. Health and Human Services (HHS) and the U.S. Drug Enforcement Administration (DEA) seeking clarification on how marijuana research should be facilitated under the Medical Marijuana and Cannabidiol Research Expansion Act signed into law by the president in 2022.

Harris and Blumenauer, despite their differing views on more general marijuana policy matters, collaborated on this legislation, which they hailed as a significant step forward in resolving the federal government’s restrictions on marijuana research. However, they criticized the DEA and HHS for failing to implement the law effectively, contrary to congressional intentions.

In their letter, the lawmakers emphasized the importance of studying the effects of marijuana use, especially with more than one-half of U.S. citizens residing in states where recreational marijuana is legal and more than four million medical cannabis users. They expressed concern over the delay in processing an estimated 150 research applications for marijuana studies by the FDA under HHS and highlighted the outdated licensing requirements imposed by the DEA, which exclude many researchers.

Further, they noted that the HHS failed to meet its deadline for providing Congress with a report detailing the obstacles to government cannabis research, pointing to the act’s inadequate execution.

Harris and Blumenauer posed several questions to the DEA and HHS, including seeking clarification on timelines for research application decisions, pending research licensing applications, reasons for missing deadlines, and steps being taken to streamline research registration and expand marijuana research.

The collaboration between Harris and Blumenauer is noteworthy given their contrasting stances on marijuana policy. Blumenauer, a cochair of the Congressional Cannabis Caucus (CCC), has long advocated for federal cannabis legalization, while Harris has opposed such efforts. Despite their differences, both lawmakers are committed to ensuring that federal agencies adhere to the law aimed at facilitating marijuana studies.

In a related move, the National Institutes of Health (NIH) recognized the difficulties faced by researchers studying marijuana due to federal prohibition; these challenges include convoluted laws and insufficient cannabis supply. In response, the agency declared its intention to create a resource center for marijuana and cannabinoid studies, demonstrating its dedication to removing obstacles that stand in the way of researchers and scientists.

The research barriers that the lawmakers refer to are a fraction of the hurdles that industry actors such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) have to contend with in the different jurisdictions where they operate.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Study Shows Cannabis Users Less Likely to Suffer Cognitive Decline

A recent study suggests a potential link between cannabis use and reduced instances of subjective cognitive decline (SDC), wherein individuals who incorporate cannabis into their routines, whether for medical or recreational purposes, report experiencing less memory impairment and confusion than nonusers.

Published in the “Current Alzheimer Research” Journal, the study’s significance lies in its departure from prior research that has often associated subjective cognitive decline with a higher risk of dementia in later life. The findings challenge conventional assumptions about the cognitive impacts of THC, the primary psychoactive component of marijuana.

The research, conducted by scholars from SUNY Upstate Medical University, examines various facets of marijuana use and its association with SCD among older and middle-aged adults in the United States. Unlike previous studies, which primarily focused on heavy marijuana consumption’s adverse effects on mental performance, this study delved into the nuanced relationship between marijuana use frequency, reasons for consumption, method of administration and subjective cognitive decline.

The researchers obtained insights from respondents 45 years of age and older in 14 states as well as Washington, D.C., by examining data from the 2021 Behavioral Risk Factor Surveillance System (BRFSS). The study, which included 4,744 valid responses on SCD, investigated the use of cannabis by participants, including how often they used it, why they used it (medically, recreationally, or both), and how they consumed it (smoking, ingesting it, vaporizing it, etc.).

The study disproved assumptions regarding the negative effects of cannabis use on cognition by showing that recreational marijuana usage was highly linked to a decreased risk of SCD in contrast to nonusers. The researchers proposed several hypotheses to explain these findings, including the potential role of cannabis in improving sleep quality and reducing stress levels, both of which are implicated in cognitive function.

However, the study also identified some mixed results. While certain consumption methods, particularly smoking, were associated with a higher prevalence of SCD, the relationship between marijuana use frequency and subjective cognitive decline was not statistically significant. Moreover, the study highlighted the prevalence of SCD among individuals using marijuana for medical or combined medical and nonmedical reasons, hinting at the complexity of the relationship between marijuana use motives and cognitive outcomes.

Despite shedding new light on the potential cognitive benefits of marijuana use, the study acknowledges several limitations. Self-reported data, potential underreporting or misreporting of cannabis use, and the lack of geographical diversity in the sample raise questions about the study’s generalizability and reliability.

In conclusion, while the study challenges prevailing beliefs about the cognitive impacts of cannabis, it underscores the need for further research to elucidate the underlying mechanisms and potential risks associated with cannabis consumption. By considering multiple factors, including reasons for use, future studies can provide a more nuanced understanding of cannabis’s effects on cognitive health.

For now, users of licensed marijuana products from various companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) can take comfort in the fact that they may not face any major risk of cognitive decline if they use cannabis products in moderation.

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420 with CNW — New Poll Shows Voters Want Cannabis Taxes to Fund Housing, Education

Opinions among adults in New Jersey vary regarding how the state should utilize revenue from the marijuana tax. However, a recent study sheds light on the prevailing sentiment that most residents do not favor directing marijuana tax funds toward antidrug or law-enforcement initiatives.

The study, which was published in the “International Journal of Drug Policy,” polled 1,006 New Jersey residents and gave them seven alternatives for how marijuana tax revenue should be spent, including financing for law enforcement, affordable housing and public health.

The study’s findings, compiled by researchers from Drexel and Rutgers Universities, showed that financing for community-based programs such as education (23%), housing (15%), public health (21%) and transport infrastructure (13%), was preferred over funding for antidrug initiatives (4%) and law enforcement (11%). Findings showed that 13% of respondents did not know where the revenue should be directed.

According to the authors, these findings reflect a desire among the public to invest in essential societal pillars such as public health and education rather than continuing the punitive measures that have traditionally been linked to marijuana laws.

The results shed light on a discussion that has taken place in legislatures and political campaigns around the nation, with proponents of legalization typically opposing plans to utilize marijuana tax revenue to fund the organizations that upheld the harsh drug laws that the repeal of prohibition wants to remove.

The survey results also revealed partisan differences, with Republicans generally supporting funding priorities less than Democrats, especially when it comes to law enforcement. Notably, only one Black participant stated that funding law enforcement was a top priority when it came to cannabis tax revenue, highlighting concerns about the disproportionate impact of marijuana criminalization on Black communities.

The study concludes by stating that marijuana legalization initiatives can address social inequities by reinvesting tax revenue, though further exploration is needed on how this reinvestment can benefit disadvantaged communities and promote health equity.

The data from New Jersey indicates a preference for investing in education, drug treatment and public-health initiatives over law enforcement, reflecting a broader trend in public opinion. This sentiment underscores the potential benefits of formally allocating health- and justice-related funding to address health disparities and historical injustices stemming from punitive marijuana policies.

Similarly, in Ohio, the debate over tax revenue allocation has intensified, with cannabis activists opposing efforts by the Republican-controlled assembly to redirect funds toward law enforcement, contrary to voter-approved legalization measures.

The debates going on regarding how best to utilize the cannabis taxes that companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) pay in the states where they operate show how a legal cannabis industry can exert a transformative role upon the jurisdictions that enact drug reform and end prohibition.

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420 with CNW — New Study Explores How Cannabis Entourage Effect Impacts Therapeutic Benefits

A recent review that delves into the collaborative interplay of different marijuana chemical compounds, such as flavonoids, terpenes and cannabinoids, has shown that to fully understand the therapeutic potential of marijuana, it’s important to understand how the different constituents interact. Echoing sentiments expressed in the cannabis community for years, the study underscores that the effects of cannabis extend beyond only CBD and THC.

The study stresses the entourage effect, which describes the complex interactions between flavonoids, terpenes, cannabinoids and other chemicals found in marijuana plants. The study, published in the scientific journal “Molecules” last month, highlights the need to explore these complex connections to fully realize cannabis’ therapeutic potential in the field of natural plant medicine.

The study recommends a more thorough investigation of the precise ratios of flavonoids, terpenes and cannabinoids in various marijuana products or strains. It implies that this kind of examination can result in the creation of more specialized and efficient medical treatments.

Terpenes and cannabinoids interact with the body’s endocannabinoid system to produce a range of effects, including neuroprotective, anti-inflammatory and analgesic properties. However, research indicates that other substances in the plant may also have an impact on their effects, which may not be entirely attributable to their separate actions.

The research notes that terpenes, for instance, have demonstrated pharmacological properties and can interact with neurotransmitter receptors and enzymes, potentially modulating the effects of cannabinoids. Further, the entourage effect proposes that terpenes and cannabinoids working together could have a therapeutic benefit that is more potent than the sum of their separate actions.

The authors also cited studies that suggest that flavonoids may have neuroprotective, antioxidant, and anti-inflammatory qualities with cannflavins, a type of flavonoid, showing strong anti-inflammatory properties, especially against neuroinflammation. The study ALSO sheds light on the intricate network of chemical interactions that could influence the effects of cannabis on individuals.

However, the authors stress the need for further research to elucidate the underlying mechanisms and synergistic effects of flavonoids, terpenes and cannabinoids. They further highlight the importance of exploring the biotechnological, bioactivities and biosynthesis applications of these compounds to harness their potential and expand treatment options.

The study also notes that the regulatory obstacles to marijuana research present serious difficulties. It highlights how important it is to resolve these barriers, especially those resulting from marijuana’s Schedule I status, to enable more widespread access to marijuana products for research.

Companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) may be doing a lot behind the scenes to leverage the therapeutic effects of combining different components of marijuana plants.

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420 with CNW — DEA Settles Lawsuit, Agrees to Rehire Agent Fired for Positive CBD Test

The U.S. Drug Enforcement Administration (DEA) recently rehired an agent that was fired almost five years ago after the agent tested positive for tetrahydrocannabinol during a drug screening. Anthony Armour, the agent in question, was terminated in 2019 by the federal agency.

In 2023, Armour filed a suit against the agency in the Federal Circuit’s Court of Appeals, arguing that the DEA had no grounds to fire him without any evidence that he’d intended to break the law. In his suit, Armour asserted that he was using what he thought to be a hemp product that was federally legal as an alternative to opioids to manage chronic pain.

His attorney, Matt Zorn, also argued that the DEA had no policy on CBD at the time of his client’s termination, which came roughly one year after the 2018 Farm Bill federally legalized hemp and its derivatives. It should be noted that in 2021, the DEA did revise its policy for job applicants, including a section inquiring about prior use of CBD and hemp before federal legalization in its questionnaire.

Last week, the court process ended in Armour’s favor, with the agency agreeing to reinstate him with restored pension eligibility as well as back pay. The Department of Justice, through the lawsuit, acknowledged that during his tenure, the plaintiff was an outstanding agent. The department then highlighted that despite this, his careless conduct in CBD consumption did justify his firing by the DEA.

In an interview, Armour stated that he was excited to return to work at the federal agency and hoped to finish his career by aiding the DEA in its mission to remove dangerous drugs from the streets. He also hopes that marijuana will be legalized, given scientific evidence that supports the drug’s legalization.

In an interview last year, Armour revealed that he was in favor of marijuana legalization.

This settlement agreement comes just as the DEA concludes a review into the scheduling of cannabis under a directive issued by President Joseph Biden in 2022. While the Department of Health and Human Services did recommend that marijuana be moved to Schedule III, the DEA has yet to give its final decision on the matter.

The issue on classification was brought up in Armour’s case, with the primary query being whether marijuana rescheduling would prevent the Drug and Enforcement Administration from enforcing its employment penalty.

The agency still defines an illegal substance as any drug under Schedule I or II of the Controlled Substances Act that cannot be prescribed.

As the scheduling review process nears its end, cannabis companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) will be hoping for an outcome that eases many of the hoops that they have been compelled to jump through in order to operate their state-legal businesses within the broader federal regulations, which aren’t so accommodating.

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

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420 with CNW — Missouri Legislators Hesitant to Add Cannabis to Workers’ Comp Law

Missouri voters approved a recreational cannabis measure in 2022, joining the growing number of states with adult-use marijuana markets. However, the legalization measure did not address how employers would handle compensation for employees who sustain workplace injuries while under the influence of cannabis.

Currently, employees may have their compensation and death benefits cut by up to 50% even if they hadn’t consumed cannabis for days but still tested positive for THC. This mostly stems from the fact that existing cannabis tests aren’t accurate and cannot properly connect blood THC levels to actual intoxication. Worker compensation attorney Bradley Young says this hasn’t changed even after voters legalized recreational marijuana because cannabis is still prohibited at the federal level.

Republican Representatives Sherri Gallick and John Voss have introduced measures that would add cannabis to the state’s workers’ compensation law. Under Missouri’s workers’ current compensation law, employees whose on-the-job injuries are sustained “in conjunction with nonprescribed controlled drugs” face a 50% reduction of their benefits.

According to Young, Missouri state law currently doesn’t classify marijuana as a nonprescribed controlled drug despite its status at the federal level.

Gallick’s bill would exempt medical cannabis patients who were using cannabis with a physician’s prescription while Voss’s measure does not include similar language. Another measure introduced by Jefferson City Republican Senator Mike Bernskoetter also mirrored the language in Voss’s bill.

However, both measures have faced opposition from Democrats and Republicans on the House Insurance Policy Committee. Republican Representative Richard West noted that his biggest problem with the measure is that the technology to accurately measure marijuana impairment doesn’t exist. He noted that employees can still lose 50% of their benefits if they have some cannabis in their systems from prior use but aren’t impaired during a workplace injury under the bill.

Young argued that after serving as a workers’ compensation defense attorney for three decades, he had never seen a case where a judge cut a worker’s benefits for using cannabis weeks, or even days, after the injury.

Several lawmakers criticized existing testing methods for their inaccuracy in properly measuring cannabis impairment. Most cannabis tests will show positive results even if an individual consumed marijuana several hours or even days prior and isn’t impaired at the moment of testing.

Conversely, alcohol impairment tests are incredibly effective at measuring intoxication levels on the spot. Without accurate cannabis impairment testing technology, West wondered whether the state would have to prevent people from consuming a legal substance in their free time.

When asked when efficient cannabis-testing technology will be available, Young said he represents a company that bought technology to determine if THC is active at the moment of testing. The technology is currently expensive, but Young said it would be more affordable next year.

The discussions in Missouri show that despite the existence of regulated markets in different states and countries where companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) operate, many reforms still need to be considered to end manifestations of prohibition.

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420 with CNW — Thailand Passes Draft Law Reversing Recreational Cannabis Legalization

Thailand’s recent political shift has set the stage for the introduction of fresh marijuana legislation, marking a major turnaround only 18 months after the nation took steps toward decriminalizing the substance.

The initial lenient regulations sparked a flourishing marijuana industry, serving both locals and tourists across southeast Asia. However, the conservative coalition government, which assumed power late last year, has pledged to enforce stricter rules, restricting marijuana usage solely to medical purposes.

Last week, the nation’s health ministry unveiled a draft measure outlining severe penalties, including high fines and potential one-year prison sentences for violators. The proposed legislation expressly limits marijuana and related products to medical applications. This aligns with Prime Minister Srettha Thavisin’s commitment in September to change marijuana regulations within the first six months in office, reinforcing the government’s focus on medical use exclusively.

Although public cannabis consumption has always been illegal, the impending laws go further by prohibiting marketing and advertising campaigns for all marijuana products. An earlier version of the bill faced parliamentary rejection in November, but the current government remains steadfast in its determination to regulate recreational marijuana.

Thavisin has consistently emphasized the severity of the drug-abuse issue in Thailand through various media platforms. The proposed legislation represents a stark departure from the June 2022 milestone when Thailand became the first Asian country to fully decriminalize marijuana, a historic move in a region where severe penalties, including death sentences, are common for marijuana-related offenses.

While medical cannabis gained legal status in Thailand in 2018, full decriminalization allowed for the cultivation, trade and use of hemp and cannabis products without criminal repercussions. The subsequent proliferation of marijuana-related businesses, including cafes, dispensaries and hemp spas, attracted considerable attention, turning cities such as Bangkok and Chiang Mai into hot spots for weed festivals and tourist attractions.

Former health minister Anutin Charnvirakul stated in a CNN interview that the intent of original legislation was never to endorse public recreational marijuana use, emphasizing the promotion of marijuana for medical purposes.

Despite protests from prolegislation advocates, including the Future Marijuana Network, the government appears resolute in its decision to pivot away from the previously permissive stance on marijuana. Kitty Chopaka, a marijuana entrepreneur and advocate based in Bangkok, labeled the government’s move an unexpected response, expressing disappointment while highlighting that the momentum for marijuana as a narcotic has irreversibly shifted.

The ongoing debate underscores the complexities surrounding marijuana regulation in Thailand, impacting various stakeholders from farmers and small business owners to advocates emphasizing the importance of public involvement.

This policy reversal in Thailand could come as a disappointment to entities such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) that had hoped for more international markets opening up on the Asian continent and elsewhere.

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420 with CNW — Five Predictions for the Marijuana Industry in 2024

In anticipation of the U. S. Drug Enforcement Administration’s (DEA) upcoming decision on marijuana rescheduling, the cannabis industry braces for what could be the most significant change in U.S. marijuana policy in half a century. The potential rescheduling carries the promise of tax reform, specifically the elimination of Section 280E from the federal tax code. The section has been a financial burden on state-legal marijuana retailers and has repercussions throughout the supply chain.

As we look ahead, here are five predictions for the cannabis industry in the coming year:

Rescheduling marijuana and eventual tax relief

The DEA is likely to propose the rescheduling of cannabis, aligning with the HHS’ recommendation to move the substance from Schedule I to Schedule III of the Controlled Substances Act. This acknowledgment of marijuana’s medical value, influenced by state-provided data, initiates the ongoing administrative review launched by the Biden Administration in October 2022. Legal challenges are likely to follow.

Rescheduling would bring tax relief as Section 280E’s constraints on federal tax deductions for state-legal marijuana businesses would cease. This change holds the potential to inject more financial strength into the $34 billion U.S. cannabis industry. Some businesses are already seeking refunds, setting the stage for potential shifts in the industry’s financial landscape.

Federal progress in limbo

While banking reform legislation gained traction in 2023, the chances of its passage in the current Congress are uncertain. A mere 13% of senior congressional aides anticipate success, signaling potential deadlock. The hope for federal Farm Bill amendments addressing hemp-derived competition persists, but state-level hurdles might complicate matters.

Next legalization frontiers

Pennsylvania and Florida emerge as potential candidates for the next states to legalize cannabis. Ohio’s recent move toward adult-use marijuana suggests a shifting landscape, prompting attention to Florida’s 2024 ballot and Pennsylvania’s legislative developments, despite partisan divisions.

Combating the illicit market

States are gearing up to tackle the burgeoning illicit market, exemplified by New York’s struggle with unlicensed sellers. While legal retail capacity expands, the effectiveness of new options in redirecting customers away from the illicit market remains uncertain. Regulators face the challenge of balancing enforcement and incentives.

Social-equity challenges

States have been grappling with the implementation of social-equity promises in the legal cannabis industry. New York’s attempts to prioritize small businesses face constitutional challenges, prompting a reevaluation of strategies to ensure equitable participation. The industry is under pressure to address legal challenges from excluded entrepreneurs, necessitating innovative solutions.

As the industry navigates these potential developments, 2024 promises transformative shifts in policy, taxation and societal impact. Enterprises such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) will be looking for any new opportunities that they can leverage to deepen their penetration in jurisdictions with legal cannabis markets.

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420 with CNW — Ukraine Lawmakers Pass Bill Legalizing Medical Cannabis, Send to President’s Desk

Legislators in Ukraine recently gave their final approval for a measure that will legalize the use of medical cannabis nationally. The measure has been forwarded to President Volodymyr Zelensky’s desk, who is in favor of reform, to be signed into law. The law shall come into effect six months after the president signs it.

The measure will legalize medical marijuana use for patients diagnosed with serious illnesses and PTSD linked to the country’s ongoing war with Russia. Russia invaded Ukraine in February 2022, with experts noting this was an escalation of the Russo-Ukrainian war, which began in 2014.

In order to obtain the needed approval for the legalization, a petition calling for special procedure, which needed the signatures of 150 members, was circulated. Olga Stefanyshina, a member of Parliament, revealed recently that a total of 164 signatures were collected, which cleared the way for the bill’s passage. It should be noted that the bill’s language explicitly lists war-borne, post-traumatic stress disorder and cancer as the only eligible conditions qualifying patients to receive medical marijuana.

Despite this, the health committee’s chair revealed earlier in the year that legislators heard daily from individuals with other ailments, including epilepsy and Alzheimer’s disease. The measure’s approval reschedules marijuana from a List I drug to a List II drug. While drugs under the former category are strictly prohibited, those in the latter category are available for therapeutic use if one has a prescription.

It is expected that the Ministry of Agrarian Policy will have regulatory authority with regard to marijuana cultivation as well as processing operations. On the other hand, the State Agency on Medicines and the National Police will oversee and enforce authorities associated with the drug’s distribution.

The bill also permits the import of raw marijuana materials from other nations, in an effort to ensure patient access.

In a translation, MP Maria Mezentseva stated that the government leaders had accounted for the various fundamental issues emphasized by colleagues and that it was crucial to not trust fake information that was making the rounds on various social media platforms. Mezentseva added that the law on medicinal marijuana was aimed solely at providing treatment for nationals who truly needed it.

The president discussed his stance on medical cannabis legalization earlier this year. During his address to parliament, Zelensky stated that the most effective policies as well as the best practices and solutions needed to be applied in the country, so Ukrainians didn’t have to endure the stress, pain and trauma of war. He also noted that fairly legalizing marijuana-based medicines for all those who needed them, with appropriate scientific study and controlled production, was key.

Companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) could explore supplying some of the needed medical marijuana products to Ukraine since they already have some experience availing these products to a number of markets within the EU bloc.

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420 with CNW — Pilot Project for Marijuana Legalization Starts in Netherlands

For years, Dutch coffee shops have functioned in a system where cannabis sale was permitted, but its growth remained illegal. This led to a lack of transparency for consumers, leaving them unaware of the origins, growers and conditions under which the products they purchased were cultivated. However, that will soon change as the government initiates a marijuana legalization pilot project.

The initial phase of a closed-chain experiment, designed to deliver marijuana from legally sanctioned cultivation to coffee shops commenced on Dec. 15, 2023. The current timeline indicates that two authorized producers will be prepared to supply coffee shops in the final quarter of 2023. This development is substantial enough to initiate the preparatory phase of the pilot program, initially focused on Tilburg and Breda.

Participating coffee shops in Tilburg and Breda will have the opportunity to offer both legally produced marijuana and tolerated products sourced from the illicit market. Two additional producers are anticipated to commence their supply to coffee shops in these cities by February 2024. Tilburg and Breda’s mayors proposed the preliminary phase idea, which was approved by Justice and Security Minister Yeşilgöz-Zegerius and Health, Welfare, and Sports Minister Ernst Kuipers. The aim is to kick-start a modest-scale “experiment with legalized production and sales chain.”

According to reports from rijksoverheid.nl., the progress made during the preparatory phase will undergo continuous monitoring. In the event of a significant threat to security or public order, the preparatory phase may be prematurely terminated. The insights gained will be shared with all participating cities, contributing to the refinement of systems and processes for a seamless transition to the subsequent phase.

Expected to last a maximum of six months, the preliminary phase will give way to the transition phase. The earliest commencement for participating cities is projected to be by the end of the Q1 2024. During this stage, coffee shops in these cities will be authorized to offer both black-market and legally cultivated cannabis products. Subsequently, participating coffee shop proprietors will exclusively vend marijuana sourced from regulated crops. Legally produced marijuana will be packaged with a QR code, enabling consumers to access comprehensive information, including details about the product’s origin, cultivation time and the responsible company.

The entire experiment is earmarked for a four-year duration, culminating in a decision on whether to extend its implementation.

For companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) with operations in several countries on different continents, the experiment being undertaken in the Netherlands is of great interest because it could eventually open extra market opportunities to tap.

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