WeedLife News Network

After three straight months of declining sales, statewide medical marijuana dispensaries saw an increase in revenue in November.

According to the most recent data from the Oklahoma Tax Commission, statewide dispensaries remitted $11.8 million in total revenue in November, an increase of more than $1 million from the $10.7 million dispensaries remitted in October. The latest OTC marijuana data reflects data collected two months prior.

November marks the first month since July that statewide dispensaries remitted more revenue than the previous month.

Although revenue numbers from December have not been released, the revenue remitted by dispensaries in 2020 is on track to nearly double the revenue remitted in 2019. Through November, statewide dispensaries remitted more than $127 million in total revenue in 2020, compared to $73 million in all of 2019.

While statewide dispensaries saw a November revenue increase, Norman dispensaries saw a decrease compared to October. Norman dispensaries remitted $3.1 million in November, a decrease of $300k compared to the previous month.

While efforts to legalize recreational cannabis nationally have stalled in the United States, New Zealand, Mexico and Israel, Canada's legal market continues to evolve.

Health Canada has recently been receiving suggestions for revising its cannabis product regulations. Now it must decide what changes to make.

One priority should be giving producers more packaging and labeling flexibility. This could help businesses build their reputations and help consumers find suitable products. It would also better support federal cannabis policy, as existing rules inadvertently encourage higher potency while sidelining other aspects of quality.

Restrictive rules

Current packaging regulations restrict each cannabis container to a single non-fluorescent color. It cannot have any photos or images beyond one small brand logo.

As the economy continues to struggle during the COVID-19 pandemic, marijuana dispensaries are still sprouting up across West Michigan.

Greg Maki, the owner of Park Place Provisionary, a marijuana shop in Muskegon, loves to see his customers purchase his goods. His store carries more than 670 items.

“We carry everything for everybody,” Maki said. “Both medical and adult use.”

Maki opened his store 18 months ago as a medical dispensary. He started selling recreational marijuana a year ago.

“The adult use or recreational is 80% of our sales,” Maki said.

With 2017 legislation, Argentina joined the growing number of South American countries to relax cannabis laws. At the end of 2020, that legislation was expanded, and now finally, Argentina allows cannabis self-cultivation for medical use.

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Cannabis in Argentina

Cannabis is not legal for recreational use in Argentina, but small amounts of it were decriminalized back in 2009. In the Arriola decision, which was the result of a court case arising from the arrest of five men, the court determined that small amounts of drugs meant for personal use, that won’t affect or cause harm to anyone else, and which pose no threat of danger, are decriminalized. There is no official amount set for personal use, meaning law enforcement and judges must use their own discretion per case.

Much like Mexico and South Africa, which each have constitutional rulings related to cannabis and the right of an individual to live life as they see fit without intrusion from the government, Argentina’s court ruled that “Each adult is free to make lifestyle decisions without the intervention of the state.” The decision was also meant to encourage law enforcement money to be spent on bigger cases, while leaving small-time users to enter treatment programs instead.

Cannabis trafficking is illegal in Argentina and can incur a penalty of 4-15 years in prison. It’s illegal for residents to grow marijuana for commercial purposes.

Last week, our neighbor to the South took a significant step forward in cannabis reform, when Mexico’s health ministry published rules regulating the use of medicinal cannabis. This will hopefully be the first of many major cannabis reform measures in Mexico this year. 

The Mexican government issued regulations on their three-year-old medical marijuana program. This is different from the adult-use legislation currently being discussed in the Mexican Chamber of Deputies - the lower house. The April 2021 deadline for legislation legalizing recreational cannabis use still holds. 

In 2017, former Mexican President Enrique Peña Nieto issued a mandate to move forward with medical marijuana legalization. That legislation created a void as there were no regulations to go along with it. In 2019, the Mexican Supreme Court mandated that the Regulatory Agencies create medical marijuana rules. 

While these regulations are three years overdue, they’re fairly straightforward. The primary focus is on cannabis cultivation both for research and for the manufacture of pharmaceutical or pharmacological products. The legislation allows for public and private research, and it provides quality control measures, including good manufacturing practices. 

I spoke with Aurelius Data’s Julie Armstrong who’s excited about the fact that this process requires institutionalized medical data going forward. Mexicans seeking permits for the cultivation of cannabis for medical purposes will need to register with the National Service for Agrifood Health and Quality (SENASA). This will ultimately create a national registry of cultivators.

Not all cannabis testing is equal, but the USA’s National Institute of Standards and Technology (NIST) is aiming for it.

Legally speaking, the only thing distinguishing hemp from marijuana is its THC level. Not so long ago, the presence of any level of THC in cannabis made it marijuana at a federal level in the USA, but the 2018 Farm Bill made hemp with less than 0.3% THC legal.

THC testing can be a particularly difficult task where the cannabinoid is at low levels and one lab’s results may differ from another due to different methods or even just plain old human error. There can be a lot at stake – a farmer’s crop.

“If you’re going to confiscate a farmer’s crop, or subject a person to prosecution, you want to be sure that measurement is accurate,” said NIST research chemist Brent Wilson.

NIST has issued an invitation to labs to participate in a study that will assist them to produce the accurate measurements required to make a reliable call as to whether a cannabis sample is hemp or marijuana.

Did you know that we’re supposed to get 5 to 9 servings of fruit and vegetables every day? This equates to roughly two cups of fruit and 2.5 cups of vegetables. Although this is the recommended amount of fruit and veggies we should eat according to the USDA (United States Dietary Association), most of the American population doesn’t come close to meeting these guidelines.

Fortunately, though, another plant consumed for centuries due to its plethora of medicinal, therapeutic, and nutritional benefits is cannabis. Recently, numerous researchers and physicians have labeled cannabis a superfood, worthy of incorporation into your diet in some way or another. Here’s why.

Medicinal, therapeutic, and nutritional value 

Cannabis’s many medicinal and therapeutic benefits have been well established, but the nutritional benefits of cannabis are still gaining recognition and public coverage. According to the British Dietetic Association (BDA), superfoods are unprocessed foods rich in vitamins, minerals, and nutrients, which are often derived from fruits, vegetables, and other herbs. Under this definition, numerous doctors believe cannabis can be grouped into the ‘superfoods’ category.

Besides cannabis’s array of medicinal and therapeutic benefits, the plant is an excellent source of vitamins and nutrients. In general, there are various parts of cannabis that can be consumed such as its leaves, stems, and buds whether they’re heated up or not. To reap cannabis’s nutritional benefits though, consuming raw parts of the plant is the way to go.

Superfood properties

Cannabis sativa (hemp) seeds:

Did you know that we’re supposed to get 5 to 9 servings of fruit and vegetables every day? This equates to roughly two cups of fruit and 2.5 cups of vegetables. Although this is the recommended amount of fruit and veggies we should eat according to the USDA (United States Dietary Association), most of the American population doesn’t come close to meeting these guidelines.

Fortunately, though, another plant consumed for centuries due to its plethora of medicinal, therapeutic, and nutritional benefits is cannabis. Recently, numerous researchers and physicians have labeled cannabis a superfood, worthy of incorporation into your diet in some way or another. Here’s why.

Medicinal, therapeutic, and nutritional value 

Cannabis’s many medicinal and therapeutic benefits have been well established, but the nutritional benefits of cannabis are still gaining recognition and public coverage. According to the British Dietetic Association (BDA), superfoods are unprocessed foods rich in vitamins, minerals, and nutrients, which are often derived from fruits, vegetables, and other herbs. Under this definition, numerous doctors believe cannabis can be grouped into the ‘superfoods’ category.

Besides cannabis’s array of medicinal and therapeutic benefits, the plant is an excellent source of vitamins and nutrients. In general, there are various parts of cannabis that can be consumed such as its leaves, stems, and buds whether they’re heated up or not. To reap cannabis’s nutritional benefits though, consuming raw parts of the plant is the way to go.

Superfood properties

Cannabis sativa (hemp) seeds:

Various cultures and countries have used cannabis for medical purposes going back thousands of years.

The cannabis plant is capable of providing tremendous wellness benefits and has been found to be an effective form of treatment for a variety of conditions.

One area that the cannabis plant can provide significant benefit, but is often overlooked, is when it comes to treating addiction to harmful substances.

Historically, cannabis has been portrayed as a ‘gateway drug,’ however, it is now being more commonly referred to as an ‘exit drug’ because of how it can help folks curb consumption of much more harmful substances.

Cannabidiol and tobacco

The World Health Organization estimated that tobacco use contributes to over 8 million deaths annually. 

Marijuana reform at the U.S. federal level could soon be on the way, as it won't be long before Democrats are in control of the House, Senate, and White House. And that's giving the industry a lot of hope that legislation favorable to marijuana could pass, potentially making the already hot cannabis industry an even more appealing investment opportunity. It could even pave the way for companies in other industries to start jockeying for position, partnering up with cannabis producers before legalization -- which could still be years away.

Trulieve (OTC:TCNNF), Green Thumb Industries (OTC:GTBIF), and GrowGeneration (NASDAQ:GRWG) have at least tripled investors' money over the past year alone. Those are substantial returns considering that the industry benchmark, the Horizons Marijuana Life Sciences ETF, only returned 22% over the past 12 months. Just what could be behind such amazing outperformance?

Because of the recent health and wellness trend, cannabis is gaining popularity for being a gluten-free, no calorie substitute for alcoholic beverages.

One of the most common stereotypes to circulate around the cannabis scene over the past several decades is that people who use marijuana are lazy, unemployed wastes of space. But according to the latest data from market research company BDS Analytics, this is not the case with the majority. In fact, it is safe to say that the average cannabis consumer — at least with respect to the modern day user in the newly legal climate — is more active and productive than anyone else in the throes of the daily grind.

Researchers at BDS found that 43% of cannabis consumers are busy with outdoors activities several times a week. This is significantly higher that non-cannabis users, according to the data. Only 25% of this group admitted to getting off their back cracks long enough to engage in activities outside the house.

Another interesting tidbit from the study is that cannabis users are more concerned about their overall health and wellness. Researchers found that around 40% regularly attend a gym or fitness center, which was about 10 points higher than non-users. This should come as no surprise. It’s like legendary stoner icon Tommy Chong once said (we’re paraphrasing, of course), “You’ve got to be in shape to do drugs, man.”

This pursuit of health and wellness is now a major trend across the United States. A recent analysis from Rabobank found that, because of this, cannabis is gaining popularity for being a gluten-free, no calorie substitute for alcoholic beverages.

Cannabis stocks are off to a hot start to the year, but can that momentum be sustained?

Thanks in large part to optimism surrounding the Georgia Senate run-off election results that will give the Democratic Party control of Congress in addition to the White House, cannabis has been one of the biggest winners of the new year, with the valuations of most pot stocks trading around record highs.

Major U.S. cannabis operators Curaleaf Holdings Inc., Trulieve Cannabis Corp., and Cresco Labs Inc. have climbed 19 per cent, 31 per cent and 26 per cent, respectively, in that time. Meanwhile, smaller players have also posted similar gains.

The U.S. Department of Agriculture (USDA) today announced the final rule regulating the production of hemp in the United States. The final rule incorporates modifications to regulations established under the interim final rule (IFR) published in October 2019. The modifications are based on public comments following the publication of the IFR and lessons learned during the 2020 growing season. The final rule is available for viewing in the Federal Register and will be effective on March 22, 2021.

“With the publication of this final rule, USDA brings to a close a full and transparent rule-making process that started with a hemp listening session in March 2019,” said USDA Marketing and Regulatory Programs Under Secretary Greg Ibach. “USDA staff have taken the information you have provided through three comment periods and from your experiences over a growing season to develop regulations that meet Congressional intent while providing a fair, consistent, science-based process for states, tribes, and individual producers. USDA staff will continue to conduct education and outreach to help industry achieve compliance with the requirements.”

Shawn Hauser, partner and chair of the Hemp and Cannabinoids Department at Vicente Sederberg LLP said, “The transition from prohibition to a legal and regulated system takes time, and USDA’s final rule is a historic step forward for hemp in the U.S.  Many are justifiably disappointed by the DEA’s continued (and in some ways expanded) role in the agricultural hemp program, but there were also a number of positive improvements. The expanded harvest window, alternative disposal/remediation authorizations, and increase of the standard of negligence to 1% will be critical to building a successful hemp industry, and they indicate the USDA gave meaningful consideration to stakeholder’s comments. We are undoubtedly making progress, and we will continue to work with regulators and through Congress to perfect the regulatory structure for hemp.”

Key provisions of the final rule include licensing requirements; recordkeeping requirements for maintaining information about the land where hemp is produced; procedures for testing the THC concentration levels for hemp; procedures for disposing of non-compliant plants; compliance provisions; and procedures for handling violations.

Now is an excellent time to be in the infused products game. In the next four years, experts predict that legal retail sales of THC-infused products alone will surpass $21.5 billion. CBD is becoming more mainstream every day, and quality infused products are pulling in A-list investors. 

Still, creating a successful infused product is very much a science —it does not happen by accident. Diligence, forethought, and adaptivity are the names of the game for any entrepreneur hoping to share in the industry’s growth and success. Before you cash out your savings, make sure your business plan answers these three essential questions. 

The latest report from the Canadian Centre for Policy Alternatives (CCPA), titled The Golden Cushion, lists Canada’s top-paid CEOs in 2019. On average, the top-100 CEOs made 202 times what the average Canadian worker earned.