WeedLife News Network

Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) reported first-quarter fiscal 2021 net revenue increased 22% to $110 million.

For years, cannabis stocks were the greatest thing since sliced bread on Wall Street. The expectation of ongoing state-level legalization in the U.S., coupled with Canada becoming the first industrialized country in the modern era to give marijuana the green light, was forecast to send pot stock valuations into the heavens -- and for a period of time this is precisely what happened.

However, marijuana stock investors have received a dose of reality since the end of March 2019. Supply issues have been persistent throughout Canada, whereas exorbitant tax rates on legal weed remain problematic in the United States. Though the long-term outlook for the legal pot industry is still very compelling, the near-term appears challenging.

This is especially true for the Canadian marijuana industry.

Canadian pot stocks appeared to have a clear path to outperform in Q2

Canada was expected to be a cannabis leader, but it completely blew its chance to be the industry's blueprint due to regulatory-based miscues and overzealous capacity expansion.

Then again, Canada looked to be turning the corner during the coronavirus disease 2019 (COVID-19) pandemic. According to Statistics Canada, revenue from licensed cannabis stores has been hitting record highs. Here are the latest monthly cannabis store sales figures (all figures in Canadian dollars (CA$)):

The adult-use cannabis market in Illinois is booming. Illinois has sold about $300 million worth of cannabis products since the adult-use market opened in January.  The state hit record-breaking sales once again in July and is expected to continue on an upwards curve as the market grows and stabilizes. 

A lot of Illinois’ sales can be attributed to COVID-19. Dispensaries were declared essential businesses and remained open during America’s closing period over March and April. The Illinois adult-use cannabis market continues to set records, and has since May. The Chicago Tribune reported July’s sales as a 75% increase over February, the lowest reported sales at $34.8 million. Many cannabis brands reported their customers to be using more cannabis products than normal due to their heightened stress levels during the pandemic and other issues happening in the United States during this time. 

Adult-use cannabis went into law in Illinois on June 25th, 2019 when it received Governor Jay Pritzker’s signature. It was the 11th state in the US to legalize cannabis for recreational purposes and the first to do so via legislative action. The bill passed 66-47 after being revised to a slightly more restrictive version. 

Adult-use sales began on January 1st, 2020. The state reported sales to reach $110 million from the sale of 2.6 million cannabis items in the first three months of operation, with $3.6 million of that being on the first day. The data confirms roughly 75% of that spending to be coming from residents of Illinois. The Illinois adult-use market is predicted to experience enormous growth – with sales expected to surpass $1 billion in sales in 2025. According to the Illinois Department of Financial and Professional Regulation, the state sold $60,956,981.41 worth of cannabis products and 1,270,063 cannabis items. 

Linda Marsicano is the Vice President of Corporate Communications for Green Thumb Industries (OTC:GTBIF). Green Thumb Industries has eight cannabis retail stores in Illinois. She told Green Market Report, “After record-breaking sales in June of $47.6 million, Illinois adult-use cannabis sales increased by more than 25% month-over-month to $60.9 million in July. Throughout the ongoing COVID-19 crisis, the cannabis industry has successfully pivoted and continued to safely operate as an essential service. We continue to see strong demand for adult-use cannabis, an increase in supply as operators ramp up capacity and new store openings throughout the state.  We look forward to the next chapter for Illinois’ cannabis industry with the award of social equity licenses in the near future.” 

Legal marijuana products contain extraordinary levels of THC, which could cause dependence and mental health issues with habitual use.

The marijuana you see in stores today isn’t like what the hippies rolled in the 70s. If you follow cannabis news, you have likely heard some version of that sentiment by a public health official. Last year, U.S. Surgeon General Jerome Adams claimed that today’s cannabis “ain’t your mother’s marijuana” but was three times stronger than weed in the 1990s.

Marijuana advocate and Canadian author Dana Larsen actually calculated how strong today’s cannabis would be if you accepted similar lawmaker sentiments throughout history. That includes claims by 2002 White House Drug Czar John Walters, who said that cannabis at the time was 30 times stronger than what baby boomers smoked, and current Democrat presidential nominee Joe Biden, who once argued that comparing 1990s weed to cannabis in the 60s was like “comparing buckshot in a shotgun shell to a laser-guided missile.”

Using all of these historical statements would mean that today’s cannabis is 12,600 times stronger than it was in the 60s, according to Larsen’s calculations. And while that is highly unlikely, we shouldn’t discount how and why cannabis potency has changed in the past decade or so.

The Colorado Department of Public Health and Environment (CDPHE) released a study last week that examined THC concentrations of weed products sold in legal dispensaries. The report was requested by the Colorado General Assembly. Longitudinal reports like this that are focused on markets in Colorado and Washington provide great insight into the state of legal weed and its effects on consumers, as the two states were the first to legalize recreational cannabis.

A review of published literature has found that chronic pain patients who use cannabis in addition to pharmaceutical medications showed a reduction in their use of opioids and required fewer visits to the emergency room. The study, “Medical cannabis for the reduction of opioid dosage in the treatment of non-cancer chronic pain: A systematic review,” was published last week in the journal Systematic Reviews.

To conduct the meta-analysis, researchers associated with the Mel and Enid Zuckerman School of Public Health at the University of Arizona searched online databases to identify original research conducted to study the effects of medical cannabis use as an adjunct therapy for patients using opioids to treat non-cancer chronic pain. A total of 2,440 unique studies were screened by the authors, who chose the full text of nine studies that qualified for inclusion in the review. The nine selected studies involved 7,222 participants with chronic pain not related to cancer, many of whom were able to reduce or eliminate their use of opioids with medical cannabis. 

The investigators documented “a much higher reduction in opioid dosage, reduced emergency room visits, and hospital admissions for chronic non-cancer pain by MC [medical cannabis] users, compared to people with no additional use of MC. There was 64 to 75 percent reduction in opioid dosage for MC users and complete stoppage of opioid use for chronic non-cancer pain by 32 to 59 percent of MC users, when compared to patients without additional use of MC.”

50 Million Americans Suffer Chronic Pain

The study noted that one in five Americans, or 50 million people, suffer from chronic pain not associated with cancer, the magnitude of which “has led to the proliferation of opioid prescriptions and addiction which is currently a public health concern in the USA.” The use of opioids carries significant risks, including the development of tolerance which can lead to the use of even higher doses and result in addiction.

“Given the current opioid epidemic in the USA and medical cannabis’s recognized analgesic properties, MC could serve as a viable option to achieve opioid dosage reduction in managing non-cancer chronic pain,” the authors of the study wrote in their conclusion.

So long as it is extremely difficult and expensive to start and run a licensed cannabis business, there will be people who opt for the illicit market.

It seems like every week, there’s a new announcement of state or local enforcement actions or raids of allegedly unlicensed cannabis operators in California. Some time ago, this would have been welcome news to many licensed cannabis businesses in the Golden State that pay large sums of money to get licensed while illicit market operators can offer cheaper, tax-free products to consumers at a huge competitive (though not legal) advantage. Nevertheless, it’s becoming clearer that nothing the state is doing is really changing the illicit market, and this offers little solace to the participants in the regulated market.

To date, legislative efforts to ratchet up penalties haven’t really disincentivized unlicensed activity. For example, AB-97, a bill that passed in mid-2019 that authorized penalties of up to $30,000 per day for unlicensed activities, didn’t end California’s illicit market. In fact, a few months after that law passed, I wrote a post citing a then-recent audit that showed that there were nearly 3,000 unlicensed cannabis businesses in the state.

As I write this post, California continues to struggle with its illicit market. The state is considering adopting another bill (AB-2122) that would authorize similar, $30,000/day penalties against landlords and other third parties that aid and abet unlicensed operators, and the state indicated it would like to expand its police enforcement team. This is on top of the seemingly weekly news of raids and other enforcement activities.

Will these enforcement efforts really end or even significantly hamper California’s illicit market? In my opinion, the answer is a clear “no”–at least without a lot more help. As I wrote in 2019:

Penn State College of Medicine researchers have found products containing cannabinoids may have impacts on the effects of some conventional prescription drugs.

The researchers have put together a list of 57 medications that may not function as intended when used with cannabis products including medical cannabinoids, CBD oil and medical or recreational marijuana. This could involve prescription drugs not being as effective, or their effects boosted. All the prescription drugs listed have a narrow therapeutic index – meaning the doses are usually prescribed at levels high enough to be effective, but not at a level that could cause harm.

There are some widely used medications on the list including warfarin, which is an anti-coagulant that prevents blood clots from forming.  Warfarin is commonly used to prevent stroke in patients with atrial fibrillation, valvular heart disease or artificial heart valves. Other classes of drugs include, but are not limited to, antibiotics, anti-convulsants and pain medications.

The researchers, Professor Kent Vrana and pharmacist Paul Kocis, have also published a list of 139 medications that could have a potential drug-drug interaction with a cannabinoid.

This is important research that demonstrates why it’s important for doctors to brush up on cannabis and for patients to be honest with their doctors about their cannabis use, whether its medicinal or recreational.

Late Friday, Maricopa County Superior Court Judge James Smith ruled that the Smart and Safe Act ballot initiative to legalize recreational marijuana for adults 21 and older in Arizona did not mislead voters about key provisions in its 100-word summary, as a frivolous lawsuit by a local anti-marijuana group claimed.

Overcoming the lawsuit and getting the initiative’s signatures certified by the Arizona Secretary of State are the last hurdles for the initiative to get onto the ballots this November, Arizona Capitol Times reported. In early July, the initiative submitted 420,000 signatures to the Secretary of State, which was about 180,000 more than the state required.

“At 100 words, the summary also cannot include everything,” Smith wrote. “That is why the full initiative must accompany the petition.” He continued, “This initiative is plain: It wants to legalize recreational marijuana. That is the principal provision. It is unlikely electors signing these petitions would be surprised by cascading effects of legalizing a formerly illegal substance.”

The lawsuit also claimed that marijuana legalization would lead to minors being exposed to marijuana-related advertising.

In his response, Smith said, “Voters will not be surprised that sellers (dispensaries) may advertise a now-legal product if the initiative passes.” He said it’d be no different than other adult products that are already advertised, from medical marijuana products to “condom commercials to ubiquitous beer advertisements.”

Thailand’s ailing economy, particularly its tourism and agriculture sectors, is poised to get a boost from new rules that ease the private cultivation and sale of medical marijuana.

The Cabinet amended the Narcotics Act on Aug. 4, pending Parliament’s approval, to allow private medical operators -- a category including some traditional medicine practitioners and farmers -- to grow and trade the crop including for both export and import. The move expands a cornerstone policy of Deputy Prime Minister and Health Minister Anutin Charnvirakul, who bet that the controlled legalization of marijuana would boost the wellness, travel and agriculture sectors.

The latest plan will lift limits imposed when the country in 2018 became the first in Southeast Asia to legalize medicinal use of the herb. It also follows the opening in January of a medical-marijuana clinic in the Health Ministry facilities that offer free medicine to its patients. This does not include the 147 authorized clinics in the country that are currently able to prescribe it.

The industry doesn't have the political clout or voter passion behind them to push weed over the finish line, but you can help.

Despite evidence that two-thirds of Americans support legalizing cannabis, federal moves towards legalization have been small and halting. Even simple measures, such as regulating banking in states where cannabis is legal, have a tough time getting support in Washington. Think about that.  How many issues in today’s polarized society have a two-thirds consensus? You’d think politicians could unite to present a rare bipartisan win and get on with it. You’d also think that presidential candidates scrambling for votes in a close election would want to tap into that 66 percent.

But unfortunately, you'd think wrong. What is going on?

Powerful opponents, little passion 

It’s true that some of the most influential people in politics oppose cannabis legalization. Mike Crapo, the chair of the Senate Banking Committee, comes to mind. Joe Biden has some personal opposition to legalization, as he was complicit in the War On Drugs back in the day. Recently, Biden successfully avoided supporting full legalization of marijuana in his unity message with former rival Bernie Sanders and in the Democratic Party platform. President Trump has been hot and cold on the subject, honoring an agreement with Colorado Senator Cory Gardner to hold back federal raids on state-legal cannabis operations but also appointing two consecutive anti-legalization Attorneys General. The second one, Bill Barr, has abused the antitrust laws to frustrate the industry.

But despite this opposition, individual actors, no matter how powerful, could not stop a large bi-partisan move towards legalization. The reason legalization is not moving forward is that its support is wide but not deep. A solid majority of Americans want legal cannabis, but it’s not a particularly important issue. 

But first, we need to do these 5 things.

Billions of dollars are sitting at the doorstep of Capitol Hill, begging to participate in the economy. But with some wise moves by the Federal government and regulatory agencies, cannabis-generated revenue could be a significant answer to our financial crisis stemming from the pandemic. 

For proof, look at the numbers. In 2019, the cannabis industry generated $629.3 million in tax revenue. Thirty-three thousand jobs were added in the United States, bringing the total to 250,000 jobs. The federal legalization of marijuana would create more jobs, provide potential breakthrough medical advancements, and possibly help reverse social injustice.

Some doctors in Western Australian and their patients should have easier and faster access to medical cannabis resulting from a deal signed between Jupiter Health Clinics and Montu.

Founded in 2011, Jupiter Health and Medical Services is a network of more than 300 doctors in 30 medical practices across the state, and is one of the largest networks of GPs in Western Australia.

Montu works with doctors in Australia to support them in developing pathways to medical cannabis access for their patients. It also has a brand of medical cannabis products called “Circle” that are produced as part of a white label agreement with Canadian licensed producer, Aleafia Health Inc.

Montu will be working with Jupiter’s GP’s to educate and provide guidance on how medical cannabis can be prescribed to treat more than 30 conditions.

“Despite significant patient growth in Australia, medical cannabis is still seen as a niche treatment option and this partnership is a significant step to integrate cannabis into medical practice more broadly.” said Montu Managing Director Christopher Strauch.

CBD could prove to be an effective treatment for people suffering from marijuana use disorder, the results of a new study published this week have shown. 

Inspired by a “substantial and unmet clinical need” for the treatment of cannabis use disorders, researchers from the University of Bath in the UK conducted a double-blind randomized controlled trial that uncovered the potential of cannabidiol in helping people addicted to weed quit the habit. 

Eighty-two people identified as being addicted to marijuana participated in the study. During the first study, participants were given either a placebo or prescription-grade CBD twice a day for a period of four weeks. Those given CBD received a daily dose of either 200 mg, 400 mg or 800 mg. 

Although those given 200 mg of the non-psychoactive compound found in marijuana saw no improvement in their condition, study participants on the higher doses of CBD significantly cut back on their marijuana use. Moreover, no adverse effects were reported among participants. 

“There are currently no safe and effective treatments available for prescription to help people with cannabis use problems. This is a large and unmet clinical need and could help people to quit in an acceptable treatment format,” Tom Freeman, who co-authored the study published in the journal Lancet Psychiatry, told Inverse. 

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) stock fell over 13% to lately trade at $6.03 after the company reported a net loss for the second quarter of $107 million versus last year’s earnings of $185 million for the same time period. The loss of $0.31 cents per share was worse than the FactSet estimate for a loss of $0.07 per share.

CBD skincare products are so hot right now! But there are a few things you should know before slathering it on. Cannabidiol (CBD) products are everywhere, from convenience stores to high-end retail shops. While there are a lot of CBD converts out there, there’s a large percentage of people who use CBD topicals without knowing what the compound is and what effects it produces.

The CBD found in lotions and creams has much of the same effect as it does when consumed orally. The compound treats pain and inflammation, making it a great addition to lotions and products that target chronic pain, muscle soreness or just general skincare. One of the biggest draws for people is that CBD topicals are a very low stakes way of getting to know a trendy compound without having to ingest it.

While you won’t get any of the stress and anxiety relieving properties of topicals, some scientific and anecdotal evidence suggests CBD can treat inflamed skin and muscles, lending itself for pain management, relaxation and the treatment of skin conditions like psoriasis and eczema.

Before you start using these products, you should keep a few things in mind. Since CBD is a relatively new compound (at least when it comes to its inclusion in so many of these new brands), you should always read the ingredient list and check that the product contains CBD and not hemp oil. Since the industry is so new, many brands are taking advantage of the misinformation that surrounds the compound. You should also read the ingredients list in order to make sure that there are no harmful agents present or compounds that you might be allergic to.

CBD strains aren’t as popular as those containing THC, but there’s plenty of perks associated with them. CBD is the second most common cannabinoid, and it’s everywhere, from tinctures and oils to clothes and pillows. Still, when it comes to smoking and vaping, the majority of people are looking for THC strains, even when they’re after therapeutic effects like pain and anxiety relief.

Even if CBD isn’t known for its psychoactive effects, its presence in cannabis strains has been associated with pleasant and mellow highs, some of which are perfect for beginners or for people who don’t want to worry about having a cannabis infused panic attack. Thanks to it’s less intoxicating properties, CBD dominant strains are great for people who are looking for medicinal benefits of the plant or are planning on consuming it during the middle of the day, before doing an activity that requires some concentration.

CBD strains are not as popular as THC strains, which is why it may be more difficult to find them in your favorite dispensary. But, as more and more people continue to get involved with CBD, the more common these strains will become.

The effects of CBD strains are similar to the effects produced by consuming CBD oils and products, only acting faster due to the way in which the compound is ingested. These strains tend to provide relief from pain, inflammation, anxiety and even seizures. When vaped or smoked, these strains produce positive highs, leaving consumers with a clear head. Unlike THC dominant strains, CBD strains are not associated with side effects, such as anxiety, dizziness, increased heart rate and nervousness.

Warm greetings, readers! I’m Chelsea Cebara, a cannabis and relationship expert, and I’ve been invited to guide readers though some of the issues unique to the intersection of loving weed and being human. I’ve been a sex educator and relationship coach, and I made my name in the cannabis industry by developing the world’s first water-based THC lube, Velvet Swing.

The stigma around cannabis is relaxing more each day, and it’s high time we talked openly about the challenges, passion and joy this plant can bring to our lives and relationships.

Here’s a question I received recently:

My husband and I have a tension point around my cannabis use. I use MJ for physical pain/mental health, but my husband generally thinks all drugs are bad – even though he knows marijuana provides me relief. He usually doesn’t say anything, but I can feel his disapproval when I consume. What can I do to convince him that medical marijuana is safe and effective?

Before we start solving this problem, let me share some background, and ultimately useless, information.

Gary Widdowson, 34, had the cops visit on an unrelated matter. But then they found cannabis in the house.

Authorities were at Gary Widdowson’s house on an unrelated matter but what they stumbled upon landed the 34-year-old a prison sentence.

Police found more than 40 plants growing in his home, in addition to scales and dried cannabis. Widdowson, a resident of Vicars Walk, U.K., was sentenced at Nottingham Crown Court on Wednesday where he pleaded guilty to “two counts of possession with intent to supply at a previous hearing,” Worksop Guardian reports.

Although he received a 16-month prison sentence it was delayed for two years, which happens, U.K.-based legal resource, In Brief, points out if the court decides to allow an individual probation period, undertake medical treatment, or meet conditions in the community.

Medical cannabis has been legal in the U.K. since 2018, but it is illegal for recreational use.