WeedLife News Network

Despite the recent spike in interest in the cannabis industry, startups still experience difficulties when it comes to setting up businesses.

Similar to crypto institutions, cannabis businesses struggle to access financial services from banks and other payment providers. These businesses would either be denied financial services outright or have to pay exorbitant fees for receiving them.

Utilizing blockchain and cryptocurrency, global blockchain technology company BitCanna offers an alternative in the form of cashless payment. 

Alternative funding for cannabis companies

As mentioned, BitCanna ensures cannabis companies can gain access to financial services through blockchain. Instead of dealing with the restrictions set by credit card companies and banks, cannabis groups can receive payments through BitCanna Pay — an application providing instant, worldwide access to payments.

Built on the Cosmos blockchain (ATOM), BitCanna transactions take an average of five seconds to process and cost less than a tenth of a cent. The network is powered by its BCNA token, which is harnessed by both users and cannabis companies to facilitate payments. 

Not only this, but BitCanna assists the cannabis industry and users in tracking and tracing cannabis-related products by utilizing blockchain technology. This to ensure transparency regarding quality and origin to provide information regarding product standards.

Digital marketplaces may allow small cannabis farmers follow in the footsteps of successful craft brewers.

As legalized weed becomes massive business, California's small cannabis farmers have been left in the dust by vertically-integrated brands and national conglomerates. Now, in a move that resembles the strategic alignment of the craft beer movement a decade ago, these independent farmers are banding together to save their craft. 

The solution is a Web3 platform that aims to connect growers directly with consumers via a crypto-exclusive POS ecosystem. It's called Emerald Road, and the marketplace is the brainchild of legacy farmer Justin Calvino. Part brand store and part consumer-brand interface platform, the dream is to let customers interact directly with their favorite farm, take a tour, talk to growers, and buy products that are delivered via Organic Kind, which has signed on as the platform's delivery partner. 

"Large verticals affect small producers by driving down the cost of production, which allows them to sell their own products at a much better price point," Calvino told ZDNet.

"The bigger issue isn't necessarily the competition of value, it is the lack of education for consumers about what makes quality cannabis."

Calvino added that "small batch cannabis produced by legacy farmers is much higher quality than large-scale overproduced, homogenized cannabis put out by corporations." 

Cannabis and hemp extraction technology company Boulder Creek Technologies and hemp-derived cannabinoid producer Red Mesa Science & Refining are partnering to utilize Vapor-Static™ Extraction Technology to produce CBD and other minor cannabinoid raw materials for B2B distribution to contract manufacturers, co-packers and white-labelers.

Red Mesa Science & Refining is the first industrial-scale hemp producer to implement Boulder Creek Technologies Vapor-Static™ 5000 system, creating a profound improvement in process optimization and workplace safety, while significantly reducing costs and environmental impact.

“Having this partnership with Utah-based Red Mesa is exciting because of what a strong and dynamic company they are,” said Rick Bonde, CEO and Founder of Boulder Creek Technologies.

“We’re really thrilled that they’ve given Boulder Creek Technologies the opportunity to provide extraction equipment. Red Mesa is science-based, technology-driven and innovation-focused with rich engineering resources to really optimize our technology at a commercial scale. We think this partnership showcases the strength and viability of Vapor-Static Extraction.”

Capable of processing 5,000 pounds of hemp biomass each day in a self-contained, continuous, fully automated system, the equipment will produce a highly refined, concentrated form of oil ready for distillation, as opposed to the traditional crude oil produced from cold ethanol technology.

When you think of hemp, you might think of a cannabis variation like CBD or THC, but leaders of a new facility in Orangeburg County hope to change that.

Leaders with BrightMa Farms say they’re doing it by using technology. It's an effort to reveal the benefits of hemp that many people may not know of.

Before hemp farming was legal in South Carolina in 2018, it was made out to be dangerous plant and an outdated farming practice.

But it’s a farmer from Johns Island who's taking a different approach while bringing minority communities to the forefront of the industry.

Harold Singletary comes from a family of hemp farmers.

“I'm a fourth-generation descendant of BrightMa, who was enslaved on a plantation,” Singletary said.

 Priority Aviation, Inc. (OTC Pink: PJET) (“PJET”) today announced the company has partnered with Puration, Inc. (OTC Pink: PURA) to build student housing from hemp.

PJET is a technology company focused on student life.  The company’s core technology is its soon to be launched Student Housing By Owner (SHBO) APP designed to connect communities local to college campuses with students through an APP similar to Airbnb and VRBO but specific to the college community.  PJET plans to evolve the relationship with the students into a lifelong relationship that extends beyond graduation providing a more socially conscious Amazon alternative.

PJET is building its own pilot student housing project in Texas near a small prominent, college campus to build first-hand experience that can be added to the ongoing development of the company’s SHBO APP.

PURA has launched its Farmersville Hemp Brand to usher industrial hemp solutions into the market and contribute to the net zero, 2050 global carbon neutrality goal.

Part of the Farmersville Hemp Brand strategy is targeted at disrupting the $600 billion global lumber market.

Hemp is a textile and lumber industry disruptor. Hemp fiber is an alternative to cotton and traditional construction lumber that in fact has many characteristics superior to cotton and traditional lumber before considering the environmental benefits of using hemp. Hemp grows faster than cotton and hard wood forests, uses less water and absorbs more carbon. Hemp can be used in the production of bioplastics and has even been tested for use in supercapacitors which hold the potential to outperform batteries and do so with far less detriment to the environment.

Acreage Holdings, Inc. has completed the sale of its cultivation and processing facility in Medford, Oregon, and in conjunction with the sale, closed its dispensary in Powell, Oregon. Total consideration for the sale of the Medford cultivation and processing facility was $2 million, including $0.75 million paid to Acreage in February 2021, $0.5 million due August 1, 2022, and the remaining balance of $0.75 million due May 1, 2023. Additionally, the company has completed the consolidation and conversion of its dispensary in Brewer, Maine to adult use. (Benzinga)

“We are thrilled to convert our Brewer dispensary in Maine to adult-use, further solidifying our leading retail market share position in the state,” stated Peter Caldini, CEO of Acreage. “We look forward to expanding access to Maine residents as we continue to grow our footprint in this market. We are also pleased to have closed the sale of the facility in Oregon, as we work to complete our wind-down of operations in the state and focus on growing our presence in our core markets.”

Article by Vuk Zdinjak

Robert Wolf, Managing Executive at Grow Space New England was a guest speaker at Benzinga’s Cannabis Capital Conference (CCC). (Benzinga)

Grow Space New England operates as a gateway to cannabis cultivation in Massachusetts. The company finds legally compliant sites, gets the necessary construction permits, then constructs greenhouse and outdoor grow facilities that are leased to licensed cultivators. 

Article by Jad Malaeb

Finding high-quality cannabis seeds in Europe is about to get easier. Franchise Global Health announced that its Danish subsidiary, Rangers Pharmaceutical, will be Europe’s “first legal and registered” seed bank in Copenhagen, Denmark, according to an April 28 press release.

The seed bank is home to one of the largest collections of its kind with 286 strains, including several world-class genetics and winners of 19 High Times Cannabis Cups. The company has a footprint all over the globe, including Germany, Canada, Colombia, St. Vincent & the Grenadines, Portugal, and Denmark.

While seed banks can be found in places such as the Netherlands and the U.K., this seed bank is licensed to store, sell, and export cannabis seeds globally under legal international trade frameworks, with permits to import and export. Rigorous adherence to good manufacturing practices (GMP) is part of the equation.

“In Europe, we abide by EU-GMP standards, which requires a rigorous approach to production of all medicines,” Franchise Global Health Executive Chairman and CEO Clifford Starke told High Times via email. “Medical cannabis is by definition a medicine and we are committed to adhering to these requirements so that patients can have the confidence that they are ingesting consistently high-quality product.”

New Frontier Data special contributor Oliver Bennett explained in an article why EU-GMP certification is critical in Europe—especially in the world of medical cannabis, in which quality control is of the utmost importance. Adhering to those good manufacturing practices is key to surviving in the regulated market.

Cannabis retailers using Flowhub's point-of-sale platform can now offer compliant, cashless payments to customers

Aeropay, the cannabis industry's leading digital payments provider, and Flowhub, the leading national cannabis point-of-sale platform for dispensaries, have announced an integration partnership to enable ACH payments via Aeropay for over 1,000 dispensaries powered by Flowhub's software. Retailers using Flowhub can now offer cashless payments at checkout, which increases sales by more than 25% per transaction, based on data from Aeropay.

"Flowhub is a leading platform for cannabis retailers across the country, and this integration will allow thousands of businesses to offer a modern and efficient shopping experience," said Daniel Muller, CEO and founder of Aeropay. "This partnership is a consequential milestone in Aeropay's mission to help cannabis businesses efficiently scale by eliminating operational friction points. We look forward to extending compliant omnichannel payment solutions to even more dispensaries and brands as consumer demand for contactless alternatives to cash payments accelerates."

This integration makes checkout convenient and easy: By simply scanning a QR code, customers can complete their purchase without cash or cards. They simply link to their bank and pay.

Several of the cannabis industry's largest dispensaries and delivery companies utilize Aeropay's payment processing solutions to optimize their operations and retail experiences. Aeropay's payment method facilitates reliable and compliant payments for cannabis businesses across the United States.

"Flowhub is proud to work with Aeropay as our first ACH payments integration partner," said Kyle Sherman, founder and CEO of Flowhub. "Both teams are committed to helping make cannabis products more easily accessible to consumers and reduce reliance on cash. This integration is a stepping stone for innovative payment processing of legal cannabis sales."

Lucid Green is transforming the cannabis supply chain with its LucidIDs, the industry's first intelligent QR code to improve the supply chain for brands, distributors, retailers and consumers.

The intelligent UPC platform transforming the entire cannabis supply chain — today announced its $10 million Series B funding round led by Gron Ventures, with participation by Gotham Green Partners. Lucid Green also announced three new pricing levels for brands, with varying levels of support to accommodate businesses of all sizes. With Lucid Green, brands, retailers, distributors and consumers realize the benefits of a streamlined cannabis supply chain — one that allows for dynamic information sharing, reduces costs, and increases transparency and trust for all stakeholders.

The cannabis industry's status quo in the supply chain is failing every stakeholder involved:

"It's clear that the cannabis supply chain's status quo is holding the industry back, and Lucid Green is proud to have pioneered the first solutions to benefit all stakeholders," said Larry Levy, co-founder and CEO of Lucid Green.

"We are laser-focused on developing the leading solutions to strengthen our industry. Lucid Green benefits brands, distributors and retailers while delivering a much needed educational experience for consumers that helps to further normalize the industry."

Lucid Green's signature LucidIDs utilize QR codes to make the cannabis supply chain more efficient by allowing for true truck-to-shelf inventory intake, reducing manual labor and human errors, and virtually eliminating data cleanliness issues. The intelligent QR codes permit dynamic information flow which empowers stakeholders to continue adding information about a product through its lifecycle, unlike the status quo of secondary stickering.

In this special guest post Kevin Chen, Co-founder & CEO, Hyasynth Bio, a precision fermentation startup producing sustainable cannabinoids, and Benjamin Joffe, Partner at SOSV make the case for European CBD biomanufacturing

By now, many have heard about Cannabidiol, better known as CBD, the non-psychoactive cannabinoid derived from the cannabis plant and discovered in 1940. You can find it in products ranging from edible gummy bears to skin oil, for purposes such as pain or anxiety relief, cognition, acne treatment or sleep aid. The FDA-approved prescription medicine Epidiolex containing CBD is currently being used by over 1 million people with hard-to-treat epilepsies. Scientific publications are multiplying – exploring many more therapeutic applications for conditions such as diabetes and arthritis – and finally providing clinical proof to some of the effects that have been observed for years. 

Investment in cannabis startups has been on fire, both by number of deals and amounts raised, and 2021 is surpassing 2020 by a long shot, with over 200 deals by mid-October, including massive rounds like Dutchie’s $350 million Series D and Jane Technologies’s $100 million Series C.

Scientific publications about CBD since 1980. Source: NIH PubMed, November 2021

In other words, we’re entering the golden age of CBD, which might turn out to be a discovery as important as aspirin. So why isn’t this ‘hero ingredient’ even more widespread?

There are several reasons: first, it’s slow and expensive to produce and extract from cannabis plants, second, it is hard to control its dosage: a 2020 FDA study found that more than half of consumer CBD products differed greatly from what was written on the label. I should know: I’m from Canada, a country now famous for its cannabis farming, home to 8 of the top 10 largest cannabis companies by revenue, while the Canadian stock exchange hosts the 2 leading US firms, Green Thumb Industries and Curaleaf.

Real-World Cannabis Seed Company Backing its NFT With Real-World Benefits

Today, Tempe, Arizona-based Seed Connect, LLC, a cannabis seed supplier with one of the USA’s largest marijuana seed banks, announces it will be launching its Cannabis Crypto Seed Headz Non-Fungible Token (NFT) collection.

The official day of launch is April 20, 2022 at 4:20 PM EST, which coincides with the international day of celebrating cannabis worldwide.

In this inaugural collection of 2,000 NFT Cannabis Crypto Seed Headz, Seed Connect will celebrate cannabis by capturing the spirit and personality of some of its favorite seeds in its artwork.

“This is the first marijuana NFT collection minted, where marijuana growers of all skill levels can gather to celebrate the exquisiteness of the sacred seed through our artwork, as well as get substantial smokin’ deals in the real world that are backed by one of the leading brick and mortar marijuana seed businesses,” says Dante Anthony, Seed Connect Co-Founder.

In addition to owning a unique, limited-edition piece of art, Cannabis Crypto Seed Headz NFT holders will get many benefits such as free seeds from its seed bank, mega discounts on future seed purchases, Zoom conferences and events, access to a private Discord community, whitelisting for future NFT releases, as well as access to a future, private club in the metaverse.

The billionaire and CEO of Tesla likes to use a cannabis code.

What is your lucky number? 

Many people have often been asked this question. Basically, the number that corresponds to them or the number or combination that they will have in mind if they decide to play the lotto. 

It is one of the few commonly-shared superstitions.

The richest man in the world seems to share this superstition as well. Elon Musk, CEO of  Tesla  (TSLA) - Get Tesla Inc Report, is worth $259 billion as of April 13, according to Bloomberg Billionaires Index.

The tech mogul has a lucky or magical number that he seems to come out with for major financial and stock market transactions. 

Insa announced its plans for their annual April 20 in-store events. This year, they're doubling up - hosting a 4/20 celebration in this reality and in virtual reality. Insa is inviting its customers to step into the virtual reality of cannabis wonders. (Benzinga)

At its Massachusetts retail locations in Salem, Easthampton and both stores in Springfield, consumers can step into a completely virtual world. The immersive experience puts the power into consumers’ hands through an oculus headset that will be displayed at each location for people to be transported and explore a first-of-its-kind virtual reality tour.

Insa’s 4/20 celebration isn’t all virtual, however. What would a 4/20 celebration be without, well, cannabis? Back in the real world at Insa's Salem and West Columbus Avenue location in Springfield, local food trucks will be serving snacks. Consumers at all locations will get free swag, fun surprises and deals on Insa cannabis.

“Every year for 4/20 we try and push ourselves to put on an exciting event to wow our current customers and educate consumers less familiar with cannabis. This year I think we’ve really outdone ourselves and I hope that our customers will agree,” said Peter Gallagher, Insa's co-founder.

“We are excited to welcome people as they take a peek behind the Insa curtain and get a better understanding of the cannabis industry and how Insa’s products come to life."

The next generation cannabis consumer is thinking beyond how high they can get, and searching for a more memorable (and perhaps Instagram-able) experience.

During the early days of recognizing the 4/20 holiday, lighting up was a bit more discreet. An apple meticulously carved into a pipe, a simple hand-rolled joint, or a run-of-the-mill tobacco pipe were a few of the slim options available for smoking THC.

With more states legalizing cannabis, the shameful stigma tied to smoking this herb is slowly but surely, fading away. We may not be totally out of the woods just yet, but there’s no denying that the cannabis culture is being embraced now more than ever before.

The stoners of yesteryear would be taken aback by what they’d find in the modern-day consumer’s toolkit. Going into the high holiday, the next generation cannabis consumer is thinking beyond how high they can get, and searching for a more memorable (and perhaps Instagram-able) experience to share with friends. 

For when the secret “stash” becomes a display, and your bar cart becomes a bong cart, here are a few wild marijuana accessories for the modern-day 420 enthusiast.

Stündenglass Gravity Bong 

Unlike the homemade gravity bongs you made in college with a plastic 2-liter and whatever other household items you could pull together, the Stundenglass Gravity Bong makes for a futuristic and immersive experience.

US-based Cone Denim has unveiled a new US-grown hemp denim collection in collaboration with hemp processing innovator, BastCore.

Cone Denim is the first to partner with BastCore in a move it says expands its sustainable denim offerings and increases its support of the American agriculture industry, featuring denim made with Alabama hemp and US cotton and dyed with natural indigo grown in Tennessee.

BastCore has created patent-pending technology and a proprietary process that produces clean, mechanically processed, Oeko-Tex Standard 100 certified and USDA bio-preferred hemp fibre out of its operation in Montgomery, Alabama.

The company transforms hemp, a low input, high-yielding crop, into numerous sustainable biobased products from the bast and hurd (wood), expanding the use cases for the full hemp plant to bridge the gap between farmers growing hemp and industries demanding cost-competitive, sustainably produced raw materials.

Cone’s US Hemp Collection includes a range of fabrics featuring classic 3×1 and comfort stretch to modern workwear constructions. The collection further expands upon Cone’s sustainability and traceability practices, driving the future of the industry.

The proximity of the hemp, indigo, and cotton crops in the US to the company’s mills in Mexico is also key in creating the smallest environmental impact and footprint possible, the company says.

Khiron Life Sciences Corp. is opening a new Zerenia clinic location and a new retail pharmacy in Colombia.

The clinic is located in the city of Bogota, with a maximum annual capacity of 40,000 consults per year. (Benzinga)

In addition, the company has opened its first retail pharmacy location within El Ensueño shopping mall. This pharmacy will allow the company to sell medical cannabis products to patients outside its own Zerenia network and dispense high and low THC medical cannabis to insurance companies in the country.

Alvaro Torres, Khiron CEO and director stated, "Khiron has become a clear leader in the Colombian medical cannabis market because of its unique go-to-market strategy, anchored in our Zerenia clinic model. This new expansion within Bogota capitalizes on the Colombian government's decision on mandatory insurance coverage, and we aim to get closer to our patients and insurers, to improve quality of life. With our new retail pharmacy, we aim to be able to offer more access to patients outside our clinic network and to provide a dispensing alternative to insurers, thereby increasing our market leadership within Colombia. As we continue to grow, our leadership is expanding to Latin America and Europe, thanks to our ability to generate evidence, offer high quality products, and create an excellent patient-focused healthcare service that improves quality of life".

Article by Vuk Zdinjak

A Tampa-based, third-party testing lab for cannabis and hemp is expanding with the addition of a new Brandon facility.

Method Testing Labs, founded in 2019 by cannabis industry veterans Keith Browning and Rob Radke, plan to open a 7,200-square-foot facility at 2720 Broadway Center Blvd. by July 1. 

“We love the Tampa area. We did not want to move outside of the I-4/I-75 [corridor],” says Browning, explaining the area offers easy transporting.

Plans call for the addition of another 10 to 15 employees in Brandon, including analytical chemistry, microbiology, lab technician, transport, customer service and quality assurance staff.

To qualify, scientists should have a four-year degree and technicians should have a two-year tech degree; successful applicants typically have two to three years of experience. 

Salaries are “very competitive in the lab space,” Browning says. The company also offers a full health package, stock options, bonuses and merit raises.

The two teamed up to create the wildest THC combo ever compressed into an edible

Melee Dose announced their first product in their Melee Mutant line today. Described as Radioactive Edible Diamonds, these gummies are rumored to tout benefits like super strength, time travel, and mutation. Unfortunately, these unsubstantiated rumors lack evidence. However, we can say with certainty these edibles fall under the 2018 Farm Bill's provision as they contain less than 0.3% Delta 9 THC making them legal in most states, even without a medical card. The luminescent green diamonds boast 4mg D9, 20mg D8/D10, 6mg THCO, and 9mg HHC, thereby achieving the golden ratio of 420:69.

"The box glows in the dark, revealing a bevy of Easter eggs. But whatever you do, don’t deconstruct the box. Bad idea. We’re sure there are no Easter eggs inside. Well, probably nothing," said Onyx Batista, co-owner of Melee.

Rest assured, there is nothing actually radioactive in the gummies, but the flavor, consisting wholly of natural and exotic ingredients, is actually sensational.

Bio-Tech Medical Software, Inc. subsidiary of Forian Inc. (NASDAQ: FORA), successfully completed the launch of its New Mexico state traceability system for adult-use cannabis sales. This latest state partnership demonstrates the continued expansion of Forian’s BioTrack state traceability system.

BioTrack has been the traceability system for New Mexico medical cannabis sales since 2015, and in 2021 expanded to also be the state’s partner for adult use compliance monitoring. The successful seamless transition of the traceability system from medical to dual-use enabled businesses to begin commercializing adult-use cannabis sales at 12:00 a.m. on April 1 with no disruption to retailers or consumers.

BioTrack’s software will track both medicinal and adult-use cannabis in New Mexico from when it is first planted as a seed to the point-of-sale to the consumer. BioTrack’s traceability system helps to ensure there is no product diversion and in the case of a recall, simplifies and streamlines those events.

"BioTrack's software worked seamlessly for New Mexico, helping the state to see a record-setting $5.2 million in combined cannabis sales during the state's first weekend of adult-use sales," stated Kristen Thomson, director of the New Mexico Cannabis Control Division.

"We look forward to continuing to work with BioTrack to ensure that all consumers and patients have access to the products they need--and to ensure that the Cannabis Control Division can track product for quality assurance and consumer safety.”