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Where There’s Smoke…

The production and distribution of cannabis, once known to many only as marijuana, is the newest and most variegated industry in America. Some would even say it is one of the toughest industries in America in which to do business. This article will discuss a few unique challenges from a financial perspective faced by the industry.

The first complexity starts with the difference between cannabis and CBD. When you look at a cannabis plant and a hemp plant side by side, the plants themselves look identical to an untrained eye, making it a bit challenging to identify, as the real difference lies in the chemistry of the plants.

A recent lawsuit filed against the Oklahoma Medical Marijuana Authority (OMMA) claims that the organization did not make its meeting agenda available to the public, which violated a state law known as the Oklahoma Open Meeting Act.

The lawsuit is led by Tulsa-based attorney Ron Durbin of Durbin Law – Viridian, who spoke at a rally at the Oklahoma State Capitol in Oklahoma City on July 30. “One of the main reasons I’m here today is, we filed a new lawsuit against the OMMA, against Director Williams, against her secretary, against a lot of the new members of the board of health and the food safety standard board,” Durbin said.

Approximately 100 people attended the rally, according to Fox 25. “We don’t want to do this; this is ridiculous that we have to continue to do this stuff, but if they keep forcing our hand, we’re going to keep doing it.”

The lawsuit claims that new, emergency rules for the industry, which went into effect on July 1, were agreed upon without making the community properly aware.

The lawsuit states that the OMMA violated the Oklahoma Open Meeting Act, which requires that all state meetings (such as local boards, commissions and all other groups) must be open to the public, and must post an agenda regarding topics of discussion. According to Durbin, the OMMA violated this law. 

As much as I loathe playing pundit, I am often asked by journalists, legislators and business leaders: Will cannabis be legalized this year? Until recently, I was telling people the chances were slim to none. But something has changed recently—and the building momentum feels like Colorado in 2014. 

At that point, I was the newly minted cannabis czar, appointed by then-Governor John Hickenlooper to oversee the establishment of the nation's first legal cannabis market. Since then, I have advised and consulted with 19 different governments on implementing legal cannabis frameworks—there is something about this moment that feels like legalization is just around the corner. As of 2021, 18 states and Washington, D.C., have legalized adult-use cannabis, and an astounding 36 states and D.C. have legalized cannabis for medical use. In the last 12 months, 10 states have approved cannabis measures—ranging from full legalization in New York to decriminalization in Alabama.

Momentum is building for legalization, both in the raw numbers of states but also in broad, bipartisan public support. Multiple polls released this year show a majority of Americans support adult-use cannabis and an even larger majority support cannabis for medical use. Even in deep-red states like South Dakota, 54 percent of voters approved legalizing cannabis at the ballot box. But like in South Dakota, where resistance from the governor has slowed implementation of a legal cannabis market, support for legalization in the nation's capital has lagged that of the public. The tide is shifting, however, and Democrats and Republicans in Congress are no doubt taking note.

Senate Majority Leader Charles Schumer (D-N.Y.), joined by Senators Cory Booker (D-N.J.) and Ron Wyden (D-Ore.), speak at a press conference on introducing legislation to end federal cannabis prohibition on July 14, 2021.KEVIN DIETSCH/GETTY IMAGES

Recently, the greatly anticipated draft "trio bill"—aptly nicknamed for the three-way cannabis reform effort by Senate Majority Leader Chuck Schumer (D-N.Y.), Senate Finance Chairman Ron Wyden (D-Ore,) and Senator Cory Booker (D-N.J.)—was revealed, intended to spur discussion before a formal bill is introduced. With broad public support and both parties introducing bills to establish legal cannabis at the federal level, cannabis legalization is surely on the horizon.

From a dispensary to your front door — that's the promise of Doobie, St. Louis' only cannabis home delivery service, which on July 22 marked its first day of ferrying orders to medical marijuana patients in the metro area.

While the service can feel at first like DoorDash for weed, Doobie presently connects patients only with products at Jane Dispensary (6662 Delmar Boulevard, University City; 314-464-4420). On a recent weekday, the service sent a shiny white van with ice-cooled bags of THC gummies to a residence in south St. Louis.

Four New England states now allow medical and recreational use of marijuana, which means local companies must review their current drug testing and substance use policies to ensure they are compliant with state and federal laws.

With Connecticut legalizing recreational marijuana in June — and Maine, Massachusetts and Vermont laws already in place — only New Hampshire and Rhode Island remain as holdouts for legalization. The provisions of the Connecticut law that affect employers will go into effect on July 1, 2022.

Investors can finally see the first rays of sunlight after a terrible year for this pot grower.

On July 28, Tilray (NASDAQ:TLRY) stock surged by 26% in a single trading day after the company published strong quarterly results -- the first earnings report its $4 billion merger with fellow Canadian pot grower Aphria. Revenue shot up, the company finally turned a profit, and its international expansion has begun to pay off. 

Tilray desperately needed that good news, as its shares are down almost 50% year to date. Let's look at why the future looks bright for this once-beaten-down marijuana company. 

A new study shows promising evidence that CBD can benefit patients, specifically those with epilepsy, in myriad ways.

Despite years in the medical marijuana market, many still doubt the efficacy of cannabidiol (CBD) in treating symptoms for physical and mental health conditions such as anxiety or epilepsy. But a new study published in the journal Epilepsy & Behavior indicates that epilepsy patients who used a form of artisanal CBD-based product showed “higher quality of life, lower psychiatric symptom severity, and improved sleep” than those who did not.

The study indicates that cost and access were driving factors in epilepsy patients who opted for artisanal CBD instead of Epidiolex, the CBD-based drug approved by the FDA back in 2018 to treat two rare and severe forms of epilepsy that manifest in early childhood: Lennox-Gastaut syndrome and Dravet syndrome.

Unlike many CBD products for sale online and in-stores made from hemp-derived CBD, Epidiolex is made from cannabis, and marked a shift in how the medical world viewed the plant.

Photo by Tinnakorn Jorruang/Getty Images

“This approval serves as a reminder that advancing sound development programs that properly evaluate active ingredients contained in marijuana can lead to important medical therapies. And, the FDA is committed to this kind of careful scientific research and drug development,” FDA Commissioner Scott Gottlieb, M.D. said in a press release.

Tammy Turner and Kerry Buffington, the co-owners of Kapstone Employment Services in Detroit, had to have a conversation with a client recently that they're not used to having.

"We actually had to go to them and say, 'Listen, this is not being consistent with the labor market now. Marijuana is legal and you're passing up on good talent,' " Turner remembers telling the client.

Turner said they were interviewing candidates for open positions at this company, and staff at their employment agency ask candidates whether they can pass a drug test as a part of their routine questions. She said, more often than not, candidates are honest and will say whether they would test positive for marijuana.

Consumers and investors alike are excited about the emergence of the cannabis industry in the U.S. Legalization is gaining momentum state by state and social acceptance at the federal level. Specialty retailer GrowGeneration (NASDAQ: GRWG) is a potential stock for investors looking for broad exposure to U.S. cannabis. Here are three reasons why GrowGeneration is positioned to thrive in the coming years.

1. Cannabis laws are rapidly changing

In 2012, Colorado and Washington became the first states to legalize recreational cannabis. Since then, the momentum has picked up across the United States. Recreational cannabis is now legal in 19 states, and 36 have legalized it for medicinal use.

You’re probably familiar with sunflower seeds, chia seeds, and even pumpkin seeds. But hemp plants also produce edible seeds that can be used in a variety of ways — and the seeds happen to be nutrient powerhouses. Here’s the scoop on hemp seed benefits, as well as ways to incorporate the seeds into meals and snacks. Image credit: Canvast Supply Co./Unsplash

Hemp seed nutrition

Hemp seeds are loaded with nutrients. A 3-tablespoon portion provides 166 calories with almost 10 grams of protein, 14 grams of anti-inflammatory fat, and just 2.5 grams of carb with 1 gram as fibre. Hemp seeds are also packed with key vitamins and minerals, including 100% of the daily value (DV) for manganese, a nutrient needed to maintain strong bones and produce collagen for healthy skin and joints.

With that portion of hemp seeds, you’ll also take in 25% of the DV for zinc, which supports immune function, and 10%-25% of the recommended intake for key energy-supporting B vitamins. Hemp seeds are also rich in a variety of antioxidants and protective bioactive compounds, according to a 2020 review published in the journal Nutrients.

Hemp seeds are also high in magnesium, a mineral that supports learning, memory, mood, and healthy sleep. For example, Organic Hulled Hemp Seeds from 365 by Whole Foods provides 45% of the daily need for magnesium in a 3-tablespoon serving. That magnesium content might be especially good news for athletes, who’ve shown to have improved strength, oxygen uptake, energy production, and electrolyte balance with a higher magnesium intake.

Ways to eat hemp seeds

Hemp seeds, which may also be labelled as “hemp hearts” (aka, hulled hemp seeds), have a subtle nutty flavour and crunchy texture. They can be eaten as is or incorporated into a variety of dishes. At breakfast, blend them into smoothies or sprinkle onto cereal, oatmeal, overnight oats, açaí bowls, yoghurt, fresh fruit, or avocado. Add hemp seeds to homemade energy balls, salads, hummus, cooked veggies, falafel, and slaw, or enjoy them as a garnish on nearly any dish, from soup to stir frys. Hemp seeds can also be incorporated into pancakes, as well as baked goods like bread, cookies, and muffins.

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.