by Grow Up Conference | Oct 17, 2023 | Media Partners, Psychedelic News Wire
Scientists are working on technology that could alleviate the anxiety related to psychedelic sessions and aid in treating post-traumatic stress disorder (PTSD). Apollo Neuroscience has developed a wearable device called the Apollo wearable that can be worn on the ankle or wrist and produce silent vibrating waves that the company claims can aid in balancing the nervous system.
Recent advances in psychedelic research have found that drugs such as LSD, psilocybin and MDMA show significant promise as mental-health treatments and can provide long-term relief against a myriad of mental disorders. However, even though several psychedelics are proving themselves to be safe and effective treatments compared to traditional mental treatments, patients are often anxious and have concerns about using psychedelics.
Wearable technology may have the potential to alleviate this issue and allow individuals with mental disorders such as PTSD to benefit from psychedelic-based mental health treatments. Apollo Neuroscience’s new device could provide the solution.
According to company chief medical officer and cofounder David Rabin, MD, PhD, Apollo Neuroscience discovered after significant research that a wearable form factor could allow the delivery of a “soothing touch” via calming frequencies. These frequencies can help reduce anxiety in patients before, during and after sessions of psychedelic-assisted therapy, which can in turn reduce the risk of going through a negative or challenging psychedelic trip.
Psychedelics exhibited plenty of medical potential in recent years as drug policies have become looser and allowed researchers to study psychedelics in depth for the first time in decades. However, current psychedelic-based therapies involve going through psychedelic trips and experiences that sometimes last several hours and can be negative in some cases.
Some people also aren’t entirely comfortable with the idea of being under the influence for several hours, which can in turn impact their experience.
Apollo Neuroscience’s wearable device may be the first in a line of technology that leverages psychedelics to treat mental-health conditions such as PTSD.
Rabin notes that many people can experience anxiety when they are suddenly confronted with scary or uncomfortable memories from the past, especially if they weren’t specifically prepared to deal with such memories. The Apollo wearable can activate during times of increased anxiety and mimic a therapeutic touch to the patient’s wrist or ankle, which can signal to the body that the person is safe and help their sympathetic system step down from fight or flight mode.
A small pilot study testing the wearable device has found that it can reduce feelings of anxiety and stress by 40% in only two weeks.
With technologies being developed to support the psychedelic-assisted therapy field, all signals point to a thriving ecosystem that will not only include psychedelics startups such as Compass Pathways PLC (NASDAQ: CMPS) developing therapeutic formulations from hallucinogens but also many actors in related verticals.
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by Grow Up Conference | Oct 17, 2023 | Grow Opportunity, Media Partners
October began with an industry reunion in Victoria held immediately after Reconciliation Day, and reflected themes of social equity and the push towards inclusivity in the space. Now, Canada celebrates five years of legal recreational cannabis, symbolizing the common and worthwhile goal for those who recognize the validity of this industry, its socioeconomic implications and ultimately, its inevitable longevity. A celebratory month all around, eager and eclectic participants met in B.C.’s capital city and contributed to the Grow Up platform that continues to ripple outwards in connection and conversation weeks later.
Following the distinctive economic and political concerns voiced by the industry, experts also highlighted the challenges faced by growers, calling for a supportive regulatory framework for fair competition and local business support. This was especially poignant for the large portion of micros and craft growers the conference attracted. Farmgate, direct delivery, consumption lounges, budtenders and branding, international and domestic strategies and marketing tactics made up other major themes.
Shifting from producer to consumer, Siobhan McCarthy, medicinal topicals producer and CEO of blyssful PRODUCTIONS and blyssful ALCHEMY, moderated a panel called the future of cannabis retail, innovation, customer experience and market trends.
While we’ve graduated away from “the sea of black bags” to welcome single coloured mylar bags, still retailers feel that this shift hasn’t done enough for differentiation in the space.
Celebrating the growers
Terra Maibach, owner of Vancouver Island’s Violet Wild Cannabis Co. and winner of independent retailer of the year award, spoke about the need for “brand recognition” and, more specifically, “recognizing the individuals who grew the product and created the categories – we need to have their colours and branding so they can differentiate and represent themselves.”
“A lot of the time a client will go by price or the bag. Certain colours don’t sell as well,” said Maibach. “These are all lifestyle brands and cannabis is just one part of it – these brands are much bigger than just cannabis. We also need to differentiate between what’s commercially farmed cannabis vs. what’s craft.”
Zelca’s founder and CEO Jen Meyers, a microprocessor and research license holder in Calgary, showed an alternative facet of the edibles category using high integrity ingredients steering clear of processed syrups and dyes.
“I feel like I’m pioneering a pantry category,” she said, “like I’m the first mover in this space.” Ethos of a holistic approach echoed during this panel of happy-go-lucky collaborative people, who favour educational events in the community and stay away from “subpar products.”
McCarthy’s topicals have awaited entry into the marketplace due to her search for the right partner, which she’s found in Dabble Cannabis Co., and not wanting to put her products into the current limited packaging.
The women also touched on the different minor cannabinoids that a number of companies and brands are now experimenting with. “I live in that category playing with minor cannabinoids,” said Meyers. “I love CBG; it’s the mother” – a favourite cannabinoid of McCarthy as well.
And yet, “pre-rolls seem to be king – everyone wants a quick smoke,” said Maibach. “And as an extension of that, how do we innovate when we’re stuck behind these mylar bags? Right now, we’re all buying with our eyes.”
Beyond borders
At the conference, Aurora’s director of regulatory affairs Annaliese Kibler discussed global horizons, saying she was “thrilled to moderate a panel with expert peers to discuss the success and challenges of the international medical cannabis market.”
Kibler’s key motivation in cannabis “is to find ways to help more medical patients across the world gain access to their medicine,” stating that she is “honoured that Grow Up, again, created the opportunity to have this important discussion on how Canada can continue to be a leader to emerging markets globally.”
Panelists discussed documentation and regulations, certifications, compliance and relationship building – especially when it comes to the opportunities for micros or small standard producers. Andrew Scott, Vancouver-based broker for the Canadian Cannabis Exchange and Global Cannabis Exchange addressed some of the opportunities specific to those producers.
While the door that opens to international can seem daunting whereas certifications are concerned, Scott reported that one of the opportunities for smaller Canadian producers lies with domestic buyers who already have GMP certifications and are looking to buy GACP product.
Buyers are willing to “pay a premium price per gram that they will then upgrade, package and ship overseas,” he said. Scott recommends producers take this on because “it lacks the complexities of an international deal but it’s actually a domestic deal where you’re not waiting 45 or 60 days from a provincial board to get your money, you’re getting money up front and you’re getting more than you would for non GACP dried flower.”
All about flower
A masterclass that helped wrap the Grow Up Victoria show was moderated by Av Singh and featured Stratus Designs CEO Adam Clarke, expert facility designer and consultant. The technical series masterclass fishbowl turned out to be “as promised,” said Clarke – “a packed room of guests and deep discussions on topics throughout a lot of the cannabis industry.”
Topics of interest included pest control with predatory insects vs. fungus-based sprays and banker plants, and other imperatives surrounding the epidemic of Hop Latent Viroid currently circulating. Another hard hitting topic during the masterclass was in the realm of organics and living soil where growers can sometimes be found to make mistakes based on having too much of a specific compound in their soil, such as sulfur, which was one of the examples given during the session.
Overall, the conference served as a reminder of why so many pioneers established this space in the first place, and how the cannabis plant does not discriminate, and, as such, nor should the actors in its space. By creating a more inclusive and equitable industry, Canada can ensure that the benefits of cannabis legalization are shared by all.
As the country today celebrates five years of legal cannabis, it is clear that there is still much work to be done. However, the industry reunion in Victoria provided a platform for productive discussions and meaningful contributions to the ongoing conversation.
With a renewed commitment to inclusivity, creativity, and social responsibility, it seems, Canada can continue to lead the way in the global cannabis marketplace.
by Grow Up Conference | Oct 17, 2023 | Media Partners, Stratcann
The Cannabis Council of Canada (C3) is calling the cannabis community to Ottawa to commemorate the fifth anniversary of cannabis legalization in Canada and appeal to the Government of Canada to fulfill the promise of legalization by responding to the mounting evidence of challenges faced by the nascent industry.
A recent C3 survey of Licensed Producers (LPs) from coast to coast underscored the urgent need for government reforms to rejuvenate the sector, ensuring its continued growth and contribution to the Cannabis Act’s public policy objectives. The survey, compiling responses from 12,240 LPs across the country, identified the major financial challenges facing the Canadian cannabis industry:
- 71% of respondents reported a surge in excise tax payments from 2021 to 2022, reflecting the adverse financial impact of escalating excise taxes due to price compression and burdensome regulatory fees.
- 83% of LPs reported negative net income in 2022. This significant increase in the excise tax burden has placed an unsustainable strain on LPs, impeding their capacity to invest in growth and innovation.
C3’s Key Recommendations to Government:
The Cannabis Council of Canada, recognizing the importance of the cannabis sector’s contributions to the success of the Cannabis Act, has released a position paper outlining three urgent recommendations:
- Reform the Excise Duty Framework: C3 advocates for a fairer taxation system, proposing the reduction of excise tax to a fixed rate of 10% of sales and structural changes to the operation of the program that are costly and inefficient. These changes would ensure that the diverse cannabis industry is sustainable and can compete with the illicit cannabis industry.
- Eliminate Excessive Regulatory Fees: Overbearing regulatory fees, which do not exist in other sectors such as alcohol and tobacco, have hampered the growth and profitability of LPs. C3 urges the government to eliminate these unfair fees.
- Reform the Edibles Product Category: C3 calls for an increase in the allowable THC limit in edibles to 100 mg, aligning regulations with consumer protection and winning this category back from the illicit market.
“After five years of legalization, the regulated cannabis industry is struggling due to high taxes, excessive regulation and unbridled competition from the illicit market. To fulfill the potential of legalization, the sector needs reform urgently. We’ve identified the top areas the government can change today to allow us to collectively grow the pie,” said George Smitherman, President & CEO of the Cannabis Council of Canada.
“Growing the pie means more revenue for the cannabis sector and governments, and it means extending the protection of the regulated sector to more Canadian cannabis consumers.”
Mike Schilling, President & CEO of Community Savings, stressed the economic benefits that a thriving cannabis sector can bring to Canada. He stated, “A revitalized cannabis industry can serve as a valuable source of tax revenue and employment opportunities, especially in challenging economic times. Between 2018 and 2021, the legal cannabis industry generated $11B in sales, $29B in investments, 98,000 jobs and added $43.5B to Canada’s GDP. It’s time for the government to support the economic potential of Canada’s nascent cannabis industry.”
On this landmark fifth anniversary of cannabis legalization in Canada, the Cannabis Council of Canada urges the government to take action promptly to implement these critical reforms and support an industry that has the potential to contribute significantly to the Canadian economy. The cannabis sector stands at a crossroads, and the government’s support is pivotal in ensuring its success.
Visit www.cannabiscouncil.ca for more information and access to the full position paper and survey results.
by Grow Up Conference | Oct 17, 2023 | Grow Opportunity, Media Partners
(CNW) Tuttlingen, Germany — STORZ & BICKEL GmbH, a world-leading manufacturer of high-end and medically certified vaporizers and a subsidiary of Canopy Growth Corporation, today announced the anticipated launch of the VENTY, STORZ & BICKEL’s state-of-the-art portable vaporizer for dry herbs. Its newly designed convection and conduction heater as well as the cutting-edge heating management and cooling technology enhance flavor to produce superior vapor quality on the go.
The VENTY will officially be launched by a global keynote hosted by Jürgen Bickel, Founder and Managing Director, STORZ & BICKEL taking place today, October 17, 2023, at 12pm ET.
“The VENTY marks a significant milestone in STORZ & BICKEL’s innovation journey. As our first entirely new product since 2014, the VENTY builds on our longstanding commitment to quality and innovation. It follows our objective to deliver the highest quality vaporizer experience possible from any device” said Jürgen Bickel, founder and managing director, STORZ & BICKEL. “Featuring industry-leading technology, the VENTY is set to revolutionize consumption, giving consumers a convenient and customizable vaporizing experience that takes the best of what consumers have come to love in STORZ & BICKELs tabletop and portable devices by combining them into one incredible package.”
The VENTY’s most notable features include an adjustable airflow for more precise customization; temperature precision with adjustable temperatures directly on the device; the fastest heat-up-time of any STORZ & BICKEL vaporizer so far; rapid USB-C charging; smart connectivity via Bluetooth and a Web App for convenient control and customization.
Continued Bickel, “The VENTY is a powerful addition to the growing STORZ & BICKEL portfolio. Consumers are central to our innovation process, and each device – including the VENTY – is specifically designed with their evolving needs in mind.”
by Grow Up Conference | Oct 17, 2023 | Grow Opportunity, Media Partners
(CNW) Vancouver — YourWay Cannabis Brands Inc. announces today, that in mutual agreement with Jacob Cohen, Mr. Cohen will resign from his position as president of Arizona operations of YourWay, effective immediately. Mr. Cohen will continue to serve as a member of the company’s board of directors.
Cohen’s contributions to the company during his tenure have been acknowledged and appreciated. YourWay wishes him the best in his future endeavors.
“We understand and respect Jacob Cohen’s decision to resign from his role within the company,” said Jakob Ripshtein, acting CEO of the company. “YourWay remains committed to its mission of delivering value to our shareholders and stakeholders.”
YourWay will continue its dedication to transparency, regulatory compliance, and its mission to redefine the cannabis industry through innovation and quality.
In light of Jacob Cohen’s transition, YourWay is evaluating the overall reporting structure for enhanced effectiveness and efficiency of the company’s Arizona operations.
by Grow Up Conference | Oct 17, 2023 | Grow Opportunity, Media Partners
By Tara Deschamps
When Miguel Martin first visited Bevo Agtech Inc.’s Langley, B.C., greenhouse, he saw potential bursting from every corner.
Hundreds of trays of tomato seedlings stretched away under the glow of LED lights. Baskets of blossoming flowers hung from the rafters. And the company was convinced it already had its next big product line: orchids.
Martin is CEO of Aurora Cannabis Inc. and may have seemed like an unlikely buyer for Bevo, an agriculture stalwart still run by the Dutch family that founded it in 1986. But it was a good match: the Edmonton-based pot giant already had the hulking, temperature-controlled greenhouses Bevo needed to expand, while for Aurora, Bevo’s stability would provide some reprieve from the volatile weed industry.
“It’s a company that makes money. It’s a company that’s growing,” Martin saidin a September interview, a year after Aurora bought a 50.1 per cent stake in Bevo for $45 million.
“It’s a company that’s not broken. It doesn’t need us to do everything for them.”
In the cannabis world, where facility closures, layoffs and multimillion-dollar writedowns have become the norm, “growing” and “not broken” are crucial elements for survival.
Over the five years since cannabis was legalized in Canada, pot companies have been constrained by the strength of the illicit market, packaging and tax rules they see as too restrictive and U.S. regulators that have been slow to make national changes.
As the industry continues its slow crawl toward profitability, many are now heavily focusing on other parts of their companies to protect themselves from further upheaval.
For example, Village Farms International Inc., the Vancouver-based owner of cannabis companies Pure Sunfarms, Leli Holland and ROSE LifeScience, has a subsidiary growing tomatoes, cucumbers and peppers.
SNDL Inc., the Calgary-based firm behind the pot shops Value Buds, Spiritleaf and Superette, owns hundreds of liquor stores across Western Canada.
“A lot of cannabis companies have evolved and are different than maybe what they were before,” said Martin.
That’s certainly true at Tilray Brands Inc., a Leamington, Ont.-based company whose chief executive, Irwin Simon, joked, “I have four children – beer, cannabis, medical cannabis, Manitoba Harvest — and love them all equally.”
Tilray began as a pure-play cannabis firm, but shortly after legalization it dropped $277.5 million on Manitoba Harvest, a purveyor of hemp-based foods, oils, and supplements with a history dating back to 1998.
As its buying spree continued, alcohol became Tilray’s new focus.
It first obtained exposure to beer through its merger with cannabis company Aphria Inc. in 2021. Aphria had paid US$300 million in 2020 for SweetWater Brewing Co., an Atlanta brewer best known for its “420” beer that smells like weed but contains no pot.
Then, Tilray bought Colorado-based whiskey and spirits producer Breckenridge Distillery as well as California’s Green Flash Brewing Co. and Alpine Beer Co. in 2021, followed by New York’s Montauk Brewing Co. in 2022.
And it wasn’t finished. Over the summer, Tilray announced a deal with Anheuser-Busch Cos. that would see its beverage portfolio gain eight more brands – Shock Top, Breckenridge Brewery, Blue Point Brewing Co., 10 Barrel Brewing Co., Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Co., and HiBall Energy.
“Most of these eight brands were declining somewhat and we are glutton for punishment. We like a challenge,” said Simon. “We felt, ‘Hey, we can turn these around.”’
The deal put Tilray on track to become the fifth-largest craft beer operation in the United States and gave the company a sizable share of a multi-billion-dollar industry Simon said has “got a little stale.”
He’s confident Tilray can “make craft beer cool again,” but admits part of the reason why the company is even interested in the task is because other markets that were expected to welcome cannabis haven’t done so.
“The reason we’re diversifying, ultimately, is … the U.S. markets and the European markets,” said Simon.
“We don’t see legalization from a recreational (standpoint) happening in the U.S. any time soon.”
Canadian cannabis companies were hopeful the U.S. would move forward with national legalization after President Joe Biden revealed he would review the status of pot as a Schedule 1 substance in 2022.
Schedule 1 controlled substances are considered to have a high risk of abuse and no accepted medical use. The group includes harder drugs such as heroin and LSD.
While the U.S. has moved toward easing federal financing restrictions for pot companies, national legalization is not on the immediate horizon, leaving Canadian companies that had poured cash into American weed prospects to look elsewhere for opportunities.
But Peter Simeon, co-leader of law firm Gowling WLG’s cannabis division, warned diversification doesn’t always work out.
“Look at BioSteel and Canopy. That’s a failure,” he said, referencing Canopy Growth Corp.’s foray into the sports drink business, which recently wound up with BioSteel Sports Nutrition Inc. filing for creditor protection and in debt to teams like the Los Angeles Lakers, even after Canopy advanced $366 million to keep the firm going.
“To go to other industries can be challenging, I think,” said Simeon.
Yet executives like Aurora’s Martin are willing to take the risk.
When Aurora bought its stake in Bevo, its 800,000 square foot, high-technology greenhouse Aurora Sky was slated for closure. Instead, Bevo moved in, delivering big savings.
“To have a facility that could keep an orchid at that exact humidity and temperature (needed) would have been wildly expensive,” said Martin.
“If you wanted to build it from ground up, it probably wouldn’t have made a lot of sense.”
The facility near Edmonton International Airport, which previously grew weed destined for flower, pre-rolls, oils and edibles, could handle an orchid’s 18-month growing cycle. Its close proximity to the U.S. border allowed the company access to a new market.
These buyers would have typically been served by growers in Southeast Asia, from where the bulk of North American orchids are shipped on ocean freighters, revitalized and then sent out to stores.
The delivery process from western Canada was far quicker when Bevo made its first sale of orchids a few weeks ago, and Martin is hopeful that will continue as successive rounds of the delicate flowers reach maturation.
Though he’s pleased with how Bevo has progressed, he insists Aurora’s core focus hasn’t shifted.
“We are first and foremost a Canadian-based medical cannabis company. That’s the vast majority of our profitability,” he said.
“It’s the vast majority of our revenue. It’s what we spend the most amount of time on.”
by Grow Up Conference | Oct 17, 2023 | Cannabis Prospect Magazine, Media Partners
by Grow Up Conference | Oct 17, 2023 | Grow Opportunity, Media Partners
(Globe Newswire) Toronto — Tilray Brands, Inc., a leading global cannabis-lifestyle and consumer packaged goods company, today announced a new sustainability campaign and hemp packaging transition across its best-selling Canadian cannabis brand Good Supply. Taking the lead as the first brand in Tilray’s cannabis portfolio to fully transition to environmentally friendly materials, the team has overhauled the brand’s packaging and componentry of all whole flower bags, pre-rolls, and vape tubes, along with vape mouthpieces, to minimize the amount of single-use plastics used.
The Canadian cannabis industry has faced ongoing challenges in embracing eco-friendly choices when it comes to product packaging. Recognizing the transformative shift toward more sustainable packaging practices, this changeover is not only good for the planet, but for the business; Tilray’s research suggests that consumers are 50 per cent more likely to purchase a cannabis product that came in sustainable packaging versus one that doesn’t. Listening to consumers’ feedback and concerns, the mission around sustainability meets the needs of more eco-conscious, and frequent cannabis consumers, sharing active awareness of increased waste production in the industry.
Good Supply is rolling out new sustainable hemp packaging for pre-rolls, vapes, and flower:
— Pre-rolls and 1g Pax Pods Cartridges: For their pre-rolls and 1g Pax Pods offerings, Good Supply has produced new eco-friendly hemp tubes for easy transport and consumer convenience.
— 510 Vape Cartridges: Good Supply is bringing consumers sleek new hemp composite mouthpieces for its best-selling collection of 510 vape cartridges.
— Whole Flower: Moving away from traditional plastic bags for whole flower, Good Supply moves into bags made from recycled content, diverting over 38,000kg of plastic waste yearly.
Good Supply new hemp tubes and vape mouthpieces are green in more ways than one — they’re biodegradable, so at the end of their lifecycle, they can be composted in organic processing or landfill facilities.
With this new sustainable hemp packaging program, Tilray is able to divert +131,000kg of plastic from landfills each year. In partnership with PrintReleaf, Tilray has also reforested 2000+ trees (as of August 2023 and counting) from label usage, to offset +150,000lbs worth of paper consumption.
Good Supply embraces the mindset of `Green You Can Feel Good About’, re-enforcing the notion that consumers can feel good about every aspect of their cannabis purchase, from the product to the packaging that comes with it. Join their sustainability journey as they produce quality cannabis products made with environmentally conscious materials that consumers and the planet deserve.
Later this year, Tilray will continue to roll out new sustainable hemp packaging for its brands across Canada including RIFF and Broken Coast, emphasizing its sustainability efforts towards shaping a greener future for the cannabis industry.
by Grow Up Conference | Oct 17, 2023 | Cannabis Prospect Magazine, Media Partners
by Grow Up Conference | Oct 17, 2023 | Grow Opportunity, Media Partners
By Steve Lambert
Winnipeg — A Manitoba judge has upheld the province’s ban on homegrown non-medical cannabis.
Justice Shauna McCarthy, of the Court of King’s Bench, has rejected a claim that the ban was unconstitutional and an infringement on federal jurisdiction.
The case dates back to 2018, when the federal government decriminalized cannabis possession and allowed people to grow up to four plants at home for recreational use.
The Manitoba government enacted a law to ban homegrown recreational cannabis, saying the ban is an important part of the province’s approach to regulate and control access.
Jesse Lavoie, a cannabis advocate, took the matter to court and said the province was overstepping its bounds by going further than the federal law.
But the judge ruled the province is within its rights to impose the ban.
“I have found that the pith in substance, or the dominant purpose, of the prohibition against home cultivation in Manitoba is to support the provincial government scheme enacted to control and regulate the purchase, distribution, and sale of cannabis in a manner consistent with the public interest,” McCarthy wrote in a decision dated Oct. 13.
“The public interest objective of the (province) in prohibiting home cultivation of cannabis, despite the approach taken in most other provinces and in the federal Cannabis Act, was to protect the health and safety of the public, including limiting access to cannabis by youth, and preventing homegrown cannabis from finding its way into unregulated or illicit markets.
“These objectives fall under the provincial jurisdiction over property and civil rights, matters of a local or private nature, and licensing of businesses,” McCarthy wrote.
Outgoing Justice Minister Kelvin Goertzen said he was pleased with the decision. The Progressive Conservative government was defeated in the Oct. 3 provincial election and a new cabinet led by New Democrat premier-designate Wab Kinew is to be sworn in Wednesday.
“The ban on homegrown recreational marijuana was always about protecting the health and safety of young people. This is an important objective that is within provincial jurisdiction and the court has affirmed that through this decision,” Goertzen wrote in a statement Monday.
Lavoie said he will continue to fight the law.
“We do not accept this decision, and we are preparing our counter arguments for the Court of Appeal.”
Fines for violating the Manitoba ban, which does not apply to medical cannabis, start at $2,542.
Quebec has also banned homegrown recreational cannabis and the Supreme Court of Canada upheld that law in April.
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