WeedLife News Network

In January 2021, recreational marijuana became legal in Arizona thanks to the passage of Prop 207 in November 2020. In the months since, dispensaries have opened their doors to recreational marijuana sales and proved to be a powerful economic engine.

“It looks like Arizona is set to hit the $1 billion sales mark at the end of the year, which is huge in comparison to other states in their first year of recreational sales,” says Greta Brandt, president of The Flower Shop, mentioning that Colorado took about two years to do the same. Taxes collected from these transactions have added $75 million to the state’s coffers to date.

But besides increasing tax revenues, is Prop 207 on track to achieve its stated goals after six months of legalization?

Unlocking an Industry

Before marijuana was legalized for recreational users ages 21 and older, Arizona voters approved Prop 203 in 2010 which created the state’s medical marijuana (MMJ) program.

“The Arizona Department of Health Services has run a wonderful, tight-knit MMJ program, and they’re doing the same for recreational. They shut down rogue operators and are trying to regulate that side of the industry very seriously,” Brandt contends.

Alberta marks the 4th province, in addition to British Columbia, Ontario and Quebec, where Neptune Sells its Branded Cannabis

LAVAL, QC, Aug. 2, 2021 /PRNewswire/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based and sustainable lifestyle brands, today announced it launched its  Mood Ring branded cannabis flower in the province of Alberta.

"I am pleased to announce that we have officially launched our Mood Ring Florida Citrus Kush flower in the province of Alberta, which has been very well received by consumers in other provinces," said Michael Cammarata, Chief Executive Officer and President of Neptune. "This is another step in the transformation of our cannabis business from a slow-growth, low margin extraction business to a high growth, higher margin branded CPG business."

The Alberta launch marks the fourth province, in addition to British Columbia, Ontario and Quebec, where Neptune Wellness now sells its cannabis products under its Mood Ring and PanHash brands. These four provinces account for more than 80% of Canadian cannabis retail sales and provide Neptune Wellness access to more than 2,000 retail cannabis stores in the Canadian market.

With every purchase of our Mood Ring flower products, a portion of the proceeds are donated to the planting of a tree through our partnership with One Tree Planted. The Company expects to launch new Mood Ring and PanHash branded products across its licensed Canadian footprint throughout the coming year. For more information, please visit https://moodring.com or https://panhash.com.

Even as Americans fork out more cash for upscale forms of caffeine and alcohol, there’s one thing they increasingly want in bulk, for cheap: marijuana.

In Tilray’s fourth-quarter call last week, Chief Executive Officer Irwin Simon said that Covid-19 prompted more people to shop for marijuana online, and that worked against premium brands. That contrasts with the “premiumization” trend of consumers trading up to higher-priced products that companies including Molson Coors and Starbucks talked about in earnings calls last week.

“Yes, there will be some room for brands that differentiate themselves on quality, but this is a price-sensitive category,” Stifel analyst Andrew Carter told me in a phone interview about the study, which was published last week.

Stifel’s survey found that price, potency and quantity were the top factors that influenced cannabis shoppers. Carter also observed that there was a high level of turnover in terms of which brands were most popular during Covid-19, as shown through data from cannabis data tracker Headset. This shows that consumers are still largely searching for brands and products to latch onto.

Headset analyst Cooper Ashley said there was also a trend toward buying cannabis flower in larger package sizes during the pandemic. “This indicates increased consumer price sensitivity, because the average price per gram of larger package sizes was (and still is) much lower,” Cooper said in an email. “Customers were finding value by purchasing in bulk.”

A Greek medical marijuana producer is heading for the London Stock Exchange (LSEG.L) thanks to a SPAC deal to take the company public. 

UK SPAC Plc, a London-listed shell company, said on Monday it had agreed a reverse takeover with Hellenic Dynamics, a European medical cannabis cultivation company. The deal values Hellenic at £45m ($62.5m).

The transaction combines two of the hottest trends in public markets over the last few years: SPACs and cannabis. Both corners of the market have attracted huge amounts of investor attention, as well as some concerns about hype and froth.

When Philip Morris International (PMI) CEO Jacek Olczak told The Mail on Sunday that the UK government should treat cigarettes like petrol cars and ban them in 10 years, many wondered why the world’s biggest tobacco company would self-sabotage itself with such a draconian statement.

Tetra Bio-Pharma reports research the company has conducted on cannabis plant residue has demonstrated that what was previously considered “waste material” can increase the growth of beneficial gut microbes.

If granted, the patent application would protect the use of cannabis plant residue material containing cannabinoids within a specified profile range as an “oral prebiotic component alone or in combination with other pro, post, para, or prebiotics as a dietary supplement for gastrointestinal health.” / PHOTO BY GETTY IMAGES/ISTOCKPHOTO

Cannabinoid-based drug discovery and development company, Tetra Bio-Pharma Inc., has filed a patent application for a possible novel prebiotic supplement that can be made from cannabis waste.

The research group identified depression, anxiety disorders and substance use disorders as conditions that could benefit from psilocybin therapies.

The group identified depression, anxiety disorders and substance use disorders as conditions that could benefit from psilocybin therapies. / PHOTO BY JAX10289 / ISTOCK / GETTY IMAGES PLUS

A state government-established Oregon advisory board has released a new report stating that psilocybin could be an effective tool in treating a variety of psychiatric conditions.

NEW HAVEN, Conn. — Focusing on social equity, a black woman whose business certifies residents for Connecticut’s medical marijuana card is taking advantage of measures in a new state law that target the issue most important to her.

A groundbreaking part of the new law, which went into effect July 1, is social equity.

It requires half of all licenses for entry into the state’s marijuana business be reserved for social-equity applicants, those from areas disproportionately affected by the war on drugs, according to the U.S. Census.

For Smith-Bolden, the new law means “righting the wrongs.”

“That, to me, is a positive thing,” Smith-Bolden said, “but what I don’t like is that, if you’re expunging records because you’re acknowledging that those charges were racially motivated — and should be rescinded so that the legislation protects the communities it once criminalized — then why would you not allow for people with criminal histories to engage in the industry?”

Major beer companies are investing in THC-infused drinks, but the sector represents less than 2 percent of the overall $20 billion marijuana market.

More than 100 million U.S. residents already live in a recreational state and 95% of residents live in a state with legal medical weed — so the consumer population is present and growing. (This article originally viewed on Benzinga By Michael Sassano)

Multi-State Operators (MSOs) in the United States are primed for the next big stock amp-up, which could see at minimum a 50 percent move starting as early as late August even without federal legislative movement. As volumes start to pick up this July, US stocks don’t need a special event to bounce off this latest correction. 

The future looked bright for hemp farmers, but the demand for CBD didn’t follow at the expected levels.

Delta-8 and smokable flower are the two products keeping hemp framers alive. The regulatory loophole that has allowed Delta-8 to be sold legally is also causing legal confusion. Delta-8 is a cannabis product that can be derived from hemp, but still give the consumer a light psychotropic experience. Some states have issued restrictions around the product, while others haven’t addressed it at all. Either way, the demand has been a blessing to hemp farmers who planted lots of acres in 2019 expecting a surge in CBD products, only to see the market contract and prices plummet. 

When the first Missouri dispensaries opened their doors in 2020, getting a Missouri marijuana card didn’t really do much for qualifying patients. The selection of medical marijuana products only covered a narrow spectrum of needs, and there were no options for people with a very low or high tolerance to THC.

Fortunately for residents of the Show Me State, the medical marijuana selection is now flourishing. From St. Louis to KC, St. Joseph to Poplar Bluff, and everywhere in between, you can find exactly what you’re looking for, whether it’s edibles with a higher CBD content, vape pens with a higher THC content, or a perfectly balanced smokable flower.

While using medical marijuana without becoming uncomfortably impaired is one of the top concerns most of our patients have, it’s also important to help people with an exceptionally high THC tolerance get the most out of their natural treatment plan as well.

For those of you who struggle to get the kind of relief you’re looking for because your body just doesn’t seem to register the results, we see you, too. In this post, we are going to take a look at reasons for some people’s tolerance to be higher than others’, and what you can do to boost the effectiveness of your cannabis every time you use it.

Reasons Why Some People Have a Higher Tolerance to THC

There are two main reasons why some people have a higher tolerance to THC than others. Mitigation strategies will be approximately the same no matter what your reasons are, and it will likely take a bit of trial and error in order to find the solutions that work best for you. But experimentation is half the fun, right?

Planet 13, a tourist hotspot, is among a number of Las Vegas marijuana dispensaries crafting plans for consumption lounges, which the state Legislature approved earlier this year.

At Planet 13’s superstore on West Desert Inn Road, a 20,000-square-foot storage warehouse will likely be converted into a lounge, Farris said.

“We want to make something that people can travel to, something like a club concept,” Farris said. “We know the pressure is on us to build something special.”

Connecticut will be rolling in heavy green due to its legalization of recreational marijuana, according to the state’s Office of Fiscal Analysis.

The OFA projects that the medical marijuana industry will generate $3.1 million in sales during fiscal year 2022 – which runs from July 1, 2021 through June 30, 2022 – and another $1 million in municipal taxes.

Retail sales are expected to begin in Connecticut by the end of 2022, with the result that FY23 will generate $20.4 million in sales and another $5.9 million in municipal taxes, all of which will go to the general fund.

"Excited to have a positive impact, providing a solution for our Black community, stay in line with marijuana laws, avoid unnecessary interactions with police."

“[Drivers who possess cannabis] can violate the law, maybe not even knowing they’re violating if it’s not in a sealed container,” Sarah noted. PHOTO BY LOCKGREEN PRODUCTS INSTAGRAM

Sarah and Ronald Morton are locking down their place as cannabis entrepreneurs.

We talk a lot about melatonin here at cbdMD because it works so well in combination with CBD. But we realize - we've kind of dropped the ball, so to speak. We have yet to address what we've assumed everyone knows. Most people know what melatonin does but have no idea what melatonin is. We thought it's time we get to the bottom of these questions: What is melatonin? What is melatonin used for? We'll also explain how it works in your body and why we love pairing it with CBD so you can get your best sleep.

And do we need to even talk about why sleep is so important for your body? Ask those dark circles under your eyes if sleep is one of the most crucial things you do for your body. We cannot survive without sleep, an essential function of our body that allows our mind and body to recharge themselves and do crucial reparative work. Our cognitive function, memory, and our immune systems all depend on the work of sleep. And to make sure we get enough of it, our bodies produce a natural 'drowsy' hormone.

So, let's talk about melatonin, nature's little sleeping helper. Here's what we'll cover today:

Key Questions We'll Answer (and More!)

What Is Melatonin?

Hemp Seed Market with 2021: Emerging Technologies, Sales Revenue, Key Players Analysis, Development Assessment and Industry Expansion Strategies 2027

By Nina Zdinjak

Seth Rogen and Evan Goldberg’s cannabis and lifestyle brand Houseplant and cannabis giant Canopy Growth Corp. (NYSE: CGC) will terminate their partnership.

The two companies that created a joint venture three years ago and launched in Canada have mutually agreed to end their collaboration. Since the brand’s launch, the Canadian cannabis market has significantly expanded, thus the parties decided it was time for Houseplant to further evolve on its own while Canopy will continue working on its wholly-owned brands.

During their years of working closely together, Houseplant grew to become a popular consumer brand in Canada and is now among the top 10 in the premium cannabis market in Ontario.

Among the most successful products are beverages with Houseplant Grapefruit becoming the top-selling cannabis drink in Canada in its first year. In 2020, more than one million cans of Houseplant beverages were sold in Canada.

Imagine it’s 2025…

Cannabis is the nation’s cash crop, and your friend is telling you about a new “super strain” at the local dispensary.

But he didn’t tell you that it was produced using CRISPR gene editing.

CRISPR technology can edit a plant’s genetic code by removing or replacing a specific genetic sequence.

Gene editing will improve the efficiency of growing operations and unlock higher profit margins for cannabis companies.