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Thai Cannabis Businesses Brace for Regulatory Shakeup
Marijuana businesses in Thailand are preparing for major regulatory and legal changes as the country works to keep recreational sales in check and make the industry primarily medicinal again. The latest draft marijuana law from the Thai government is focused on eliminating the vacuum that allowed the adult-use industry to flourish after the drug was declassified as a narcotic.
The new law could greatly impact the business prospects for thousands of growers and store owners, depending on how relevant authorities chose to enforce it.
Some of the proposed changes include the following:
- Affording law enforcement more authority to enforce the law, with a focus on the ability to seize goods from businesses that don’t adhere to the rules
- Adopting a license system for personal cultivation
- Issuing prison sentences and fines for any individual who violates the law
- Prohibiting the sale of smokable cannabis outside the medical market
Pongchaiwat Jirayustienjinda, a Tilleke & Gibbins associate, stated that the draft law prohibited the use of marijuana for recreational purposes, which included smoking. However, he continued, the draft was still being considered as the public hearing was concluded last month.
The draft maintains a ban on the majority of commercial imports of medical cannabis. It remains to be seen whether the new law might discourage or encourage foreign direct investment.
To analyze the possible future path for the country’s marijuana industry as well as its current situation, it is important to understand what went wrong. In 2022, Thailand decriminalized marijuana. Soon after, the Ministry of Public Health revealed that adult-use wasn’t part of the plan, with government officials noting that the goal behind the decriminalization was to help the economy and support medical wellness.
Despite this, sufficient regulatory and legal mechanisms weren’t implemented to prevent recreational marijuana businesses from launching; in addition, moves to conclude related regulations were stopped by political issues and never concluded. With the vacuum in place, thousands of cannabis retailers opened their doors to the public.
It is estimated that more than 6,500 cannabis stores operate in the country, and while they aren’t explicitly legal, they aren’t illegal either because most of them follow regulations in existence and operate in a gray area as marijuana isn’t classified as a narcotic.
Other flaws of the current regulatory and legal situation include the lack of traceability for cannabis product, the lack of testing requirements for cannabis products and the absence of marijuana-specific taxation to offset regulatory compliance costs
The likely regulatory U-turn in Thailand is a reminder to North American cannabis companies such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) that some jurisdictions can easily change policy on a dime, and it pays to analyze any potential risks should the company consider entering any international marijuana market.
About CannabisNewsWire
CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.
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Software Effective Solutions Corp. (SFWJ) Experts Work with Partners, Customers to Meet Impressive Market Growth
- Research forecasts global medical marijuana space will see CAGR of 22.32% over the next decade
- Several key factors contribute to double-digit growth
- MedCana has assembled a team of pharmaceutical scientists who are some of the world’s most respected chemists
Recent forecasts for the global medical marijuana sector indicate significant growth, a trend that Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ) is paying close attention to. A global infrastructure and holding company in the cannabis industry, MedCana is on a mission to become the world’s premier resource for pharmaceutical cannabis products.
The recent ResarchAndMarket.com article reported that the global medical marijuana market size was estimated to be $16.88 billion in 2023 and is expected to reach at $154.83 billion by 2034, with a CAGR of 22.32% during the 2024–2034 forecast period (https://cnw.fm/ON1OY). “Growing awareness regarding various therapeutic applications of the marijuana, a surge in permitting the usage of medical marijuana, increasing adoption of cannabis in therapeutic applications, rising research and development activities, growing prevalence of chronic diseases, and increase in acquisition of market players for the manufacturing of advanced medical products are some of the key factors boosting the market growth,” the article stated.
“The North America region is anticipated for the highest revenue share during the forecast period, owing to the surge in cannabis legalization and increasing product launches by major market players,” the article continued. “Increased launch of advanced medical products is predicted to boost the market growth during the forecast period. Medical marijuana, also known as medical cannabis, is a marijuana plant extract utilized to alleviate symptoms, illnesses, and various health conditions. Numerous North American states have relaxed laws regarding cannabis use, both for medical and recreational purposes.”
The article also noted that many other countries worldwide are following North America’s lead by legalizing cannabis. “The increasing trend of cannabis decriminalization is expected to significantly boost the development and launch of medical marijuana,” the report concluded.
With this backdrop of growing awareness and acceptance of medical cannabis, MedCana is well positioned to become an industry leader. The company has assembled a team of pharmaceutical scientists that are some of the most respected chemists in the world (https://cnw.fm/tPBhw). These experts work closely with MedCana partners and customers to create premium pharmaceutical-grade cannabis extracts that will meet the growing worldwide demand for high-quality products.
MedCana has established five companies focused on pharmaceutical cannabis production, as well as a software company focused on managing processes for plant-to-patient operations. In addition, the company recently rounded out its portfolio of holdings with the acquisition of an irrigation and greenhouse technology company.
The company’s focus is on developing clients and companies in Latin America, initially in Colombia, and partnerships with laboratories, research facilities and hospitals throughout the world. MedCana is building the technology, laboratories, growing facilities and scientific teams to provide premium pharmaceutical-grade cannabis extracts globally.
For more information, visit the company’s website at www.MedCana.net.
NOTE TO INVESTORS: The latest news and updates relating to SFWJ are available in the company’s newsroom at https://cnw.fm/SFWJ
About CannabisNewsWire
CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.CannabisNewsWire.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.CannabisNewsWire.com/Disclaimer
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AlCannTrace provides streamlined seed-to-sale record keeping for the cannabis industry
ALCannTrace is a web-based seed-to-sale record-keeping software solution with a medical e-commerce option that has been developed specifically for Canadian cannabis license holders.
The ALCannTrace development team has relied on feedback from the industry to determine what features are essential to ensure compliance with the regs, and what would be “nice to haves”. Jian Song, founder of ALink Computer Systems, says, “We’ve built a system that meets all the regulatory requirements and is still easy to understand, without excessive data entry requirements.”
ALink Computer Solutions was founded to create a custom data management system for the precise needs of A&L Canada Labs. ALCannTrace was developed when A&L’s cannabis clients asked for record-keeping software that was less complicated and more cost-effective than what was available at the time.
ALink’s strategic partnership with A&L Canada Labs provides additional advantages to our customers by combining our experience with A&L’s deep understanding and experience assisting license holders with all their cannabis growing and testing needs.
While A&L customers gain added advantages, ALCannTrace is accessible to all, regardless of lab affiliation. So, even if you’re working with another lab, ALCannTrace remains a valuable record-keeping solution.
ALink’s newly launched medical e-commerce platform is also specifically designed for the Canadian cannabis marketplace, helping to simplify patient registration, implement prescription limits, and ensure regulatory compliance.
The platform offers customizable pricing structures for consumers and retail customers that consider provincial rate variations. In addition, real-time shipping rates help strengthen transparency. It includes a robust CMS for efficient site content management, allowing users to maintain a dynamic and responsive online presence.
Designed to evolve with industry dynamics, the ALCannTrace brand separates itself from the competition through its user-friendly interface, scalability, and seamless integration with existing systems.
“We’re aware of the specific challenges faced by cannabis producers in Canada, and as the industry evolves around the globe, we’re there with a proven, reliable, and adaptable solution.”
Larry Kropf, ALink’s Director of Marketing, has been working in the industry since the days of the MMAR. Kropf says he understands the unique requirements of compliance solutions that are built with and can adapt to the ever-changing nuances of the regulations.
“ALCannTrace supports our clients by offering cost-effective software solutions as nobody needs another hand in their pocket in this challenging terrain.”
As licence holders prioritize core strengths and build their business models around what they do best, ALCannTrace can adapt its features to only what’s needed by the client. Our software evolves in tandem with industry trends to meet the dynamic needs of our customers.”
“Our team at ALink is not just about delivering software; it’s about crafting tailored solutions that go hand-in-hand with our client’s needs. We pride ourselves on our team of experts who are not only proficient in the latest technologies but also deeply understand the nuances of the industries we serve. Our commitment extends beyond providing cutting-edge platforms like ALCannTrace; it’s about fostering partnerships, staying agile in a rapidly evolving landscape, and ensuring our clients are equipped with forward-thinking solutions to thrive in the Cannabis industry. We love understanding your needs and crafting a tailored solution that suits your best interests!
Content sponsored by: ALCannTrace
Recall of BonBon Turkish Delight cannabis edibles in Ontario
Health Canada has issued a recall for two lots of WellCann Intl. Inc.’s BonBon Turkish Delight – Lokum edible cannabis sold in Ontario.
The recall is due to concerns the products may contain mould.
In their recall notice, Health Canada says that WellCann Intl. Inc. has received one complaint regarding the recalled lots. It did not involve an adverse reaction. Health Canada has not received any complaints nor reports of adverse reactions related to the recalled lots.
There were 587 units of recalled product that were sold in Ontario from December 1, 2023, to February 8, 2024. The BonBon Turkish Delight came with two 15 gram products.
The product contains water, sugar, rosewater, lemon extract, starch, pistachio, natural colour and flavour, and emulsifier.
Health Canada says consumers who are in possession of the products should immediately stop use. They can return the product to the retailer where the product was purchased, or dispose of it entirely. Opened products, cautions the federal health agency, should be disposed of safely and out of the reach of children and young persons.
Health Canada also reminds Canadians to report any health or safety complaints related to the use of this cannabis product or any other cannabis product by filling out the online complaint form.
420 with CNW — New Study Explores How Cannabis Entourage Effect Impacts Therapeutic Benefits
A recent review that delves into the collaborative interplay of different marijuana chemical compounds, such as flavonoids, terpenes and cannabinoids, has shown that to fully understand the therapeutic potential of marijuana, it’s important to understand how the different constituents interact. Echoing sentiments expressed in the cannabis community for years, the study underscores that the effects of cannabis extend beyond only CBD and THC.
The study stresses the entourage effect, which describes the complex interactions between flavonoids, terpenes, cannabinoids and other chemicals found in marijuana plants. The study, published in the scientific journal “Molecules” last month, highlights the need to explore these complex connections to fully realize cannabis’ therapeutic potential in the field of natural plant medicine.
The study recommends a more thorough investigation of the precise ratios of flavonoids, terpenes and cannabinoids in various marijuana products or strains. It implies that this kind of examination can result in the creation of more specialized and efficient medical treatments.
Terpenes and cannabinoids interact with the body’s endocannabinoid system to produce a range of effects, including neuroprotective, anti-inflammatory and analgesic properties. However, research indicates that other substances in the plant may also have an impact on their effects, which may not be entirely attributable to their separate actions.
The research notes that terpenes, for instance, have demonstrated pharmacological properties and can interact with neurotransmitter receptors and enzymes, potentially modulating the effects of cannabinoids. Further, the entourage effect proposes that terpenes and cannabinoids working together could have a therapeutic benefit that is more potent than the sum of their separate actions.
The authors also cited studies that suggest that flavonoids may have neuroprotective, antioxidant, and anti-inflammatory qualities with cannflavins, a type of flavonoid, showing strong anti-inflammatory properties, especially against neuroinflammation. The study ALSO sheds light on the intricate network of chemical interactions that could influence the effects of cannabis on individuals.
However, the authors stress the need for further research to elucidate the underlying mechanisms and synergistic effects of flavonoids, terpenes and cannabinoids. They further highlight the importance of exploring the biotechnological, bioactivities and biosynthesis applications of these compounds to harness their potential and expand treatment options.
The study also notes that the regulatory obstacles to marijuana research present serious difficulties. It highlights how important it is to resolve these barriers, especially those resulting from marijuana’s Schedule I status, to enable more widespread access to marijuana products for research.
Companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) may be doing a lot behind the scenes to leverage the therapeutic effects of combining different components of marijuana plants.
About CNW420
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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