by Grow Up Conference | Sep 8, 2023 | Cannabis News Wire, Media Partners
Officials in California have announced the launch of a program to crack down on illegal cannabis operations in the state and boost the legal market. The program will connect Attorney General Rob Tonta’s office with local authorities and support them in efforts to combat the illicit marijuana market by targeting the finances of illegal cannabis operators. Tonta said that the anti-illicit cannabis program will deal with illegal marijuana as a land use and public nuisance issue.
Even though California is now home to the largest legal cannabis market on the entire globe, the state’s cannabis program has struggled to compete with the illegal market since its inception. Bonta noted that illicit marijuana is “problematic for many reasons” and said that constituents expect their leaders to team up and address the escalating issue of illegal cannabis.
Illegal operators regularly outsell California’s legal cannabis market, depriving the state of tax revenue and funneling funds into illegal operations. Furthermore, the illicit cannabis market has been implicated in illicit land use, significant water waste and environmental pollution. Cheaper cannabis from the black market has also made it incredibly difficult for licensed cannabis retailers to remain competitive as a myriad of fees and taxes makes legal cannabis significantly more expensive than black-market marijuana.
In addition, because illegal sellers aren’t subject to safety and quality controls, black-market cannabis can contain contaminants that endanger the health of unsuspecting cannabis users. In some cases, the criminal enterprises behind the illicit drug trade exploit and traffic their workers.
The new anti-illicit cannabis program will provide education and resources for enforcement programs and help collect evidence that could be instrumental in prosecuting large statewide cases. California’s Department of Justice will fund the program through administrative orders, fines, enforcement actions, lien, and settlements, allowing the program to be almost wholly self-funded. Fresno is the first city to join the program and will work with the justice department to help provide running costs.
A news release revealed that the statewide illicit cannabis enforcement efforts will supplement civil and criminal action by California Governor Gavin Newsom’s Unified Cannabis Enforcement Task Force and the state Department of Cannabis Control. According to Fresno City Attorney Andrew Janz, the city’s partnership with the attorney general’s office is meant to help boost Fresno’s legal cannabis industry and expand the city’s tax base. He hopes that other large cities in California will emulate Fresno’s joint venture and accelerate efforts to target the state’s massive cannabis black market.
It isn’t only California that is battling black-market operators. As multistate operators such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) are all too aware, the challenge of illicit actors plagues all markets where marijuana is legal.
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by Grow Up Conference | Sep 8, 2023 | Media Partners, Psychedelic News Wire
With Europe embarking on psychedelic reform and the potential legalization of therapeutic psychedelics, a lobby group comprised of industry players and developers says regulators should leverage knowledge from experienced psychedelic users to inform their decisions. In a document sent to the European Medicines Agency (EMA), the Psychedelic Access Research and European Alliance (PAREA) said the regional bloc needs a standard voice of authority for therapeutic psychedelic use, which includes experienced psychedelic users.
The lobby group called for authorities to create a multidisciplinary advisory body to provide professionals and regulators with guidance on best practices for psychedelic-assisted therapies amid the ongoing surge of psychedelic research. Several studies and clinical trials involving psychedelics such as LSD, MDMA and psilocybin (magic mushrooms) have revealed that psychedelics have the potential to offer sustained relief against several mental-health conditions with minimal adverse side effects.
For instance, psilocybin and ecstasy pills have shown positive results against conditions such as post-traumatic stress disorder (PTSD) and hard-to-treat depression, which don’t always respond to conventional mental health-treatments, including talk therapy and antidepressants. Scientists are also researching the potential of psilocybin, the main hallucinogenic agent in magic mushrooms, in the treatment of the eating disorder anorexia.
Although European regulators are just considering the possibility of therapeutic psychedelics, regulators in Australia and some parts of the United States have already legalized the prescription of psychedelic-based treatments to treat specific mental-health disorders. With some regulators calling for faster regulatory action on psychedelics in the European Union, PAREA asked the drug regulator to push for centralized leadership on the clinical and practical use of psychedelic-assisted therapies.
Psychedelics are expected to revolutionize the psychiatric industry over the next few decades, thanks to their therapeutic potential against typically hard-to-treat mental disorders such as PTSD and treatment-resistant depression. However, unlike traditional mental-health treatments, psychedelic-assisted therapy requires plenty of preparation, pre- and postcare, and guidance during the psychedelic trip. The lobby group wants regulators to ensure all this complementary care is standardized and has approval from multiple relevant groups.
According to PAREA’s briefing document to the European Medicine Agency, an advisory body would benefit from using knowledge from a wide variety of stakeholders. This includes psychedelic organizations, national competent authorities, physicians, drug developers, patient organizations and professional organizations such as Germany’s Mind Foundation the Netherlands’ Beckley Academy and the Open Foundation. Such groups use up-to-date research from institutions such as Johns Hopkins University in the U.S. and the Imperial College London to provide much-needed training to psychedelic therapists.
As efforts to bring about psychedelic policy reform ramp up around the world, industry actors such as Seelos Therapeutics Inc. (NASDAQ: SEEL) could see their operating environment become increasingly supportive when compared to the current regulatory climate.
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by Grow Up Conference | Sep 8, 2023 | Grow Opportunity, Media Partners
The haze of cannabis is everywhere right now. Germany has recently become the latest country to move towards legalising recreational cannabis, following in the footsteps of Uruguay, Malta, Canada and parts of the United States. Even Thailand has begun distributing one million cannabis plants to households after dropping it from the official list of prohibited substances.
Australia has not been left out. In the last couple months, Legalise Cannabis Party members in New South Wales, Victoria and Western Australia have tabled bills to legalise recreational cannabis use.
And at a federal level, the Greens tabled a bill last month, which would provide for the registration of cannabis strains and the establishment of a national agency overseeing a new commercial cannabis industry.
Many policy experts both here and overseas, however, remain very worried about a for-profit industry – namely the potential for commercial interests to promote regular cannabis use.
Non-profit supply models offer an alternative, including allowing people to grow cannabis for their own personal consumption. But what do we know about home-growing cannabis in Australia?
Our research on cannabis growing in the ACT
The Australian Capital Territory is showing the way forward. In 2020, ACT passed a law to allow people to possess, use and grow cannabis. It is now legal to grow up to two cannabis plants per person (up to a maximum of four per household) for personal consumption.
We have been studying the experiences of these cannabis growers in the ACT. Our research provides important lessons for policymakers across the nation who are considering whether to allow home-growing as a legal source of cannabis supply.
We conducted in-depth interviews with 10 people who grow cannabis, exploring their growing techniques, what works well and what challenges they’ve faced.
We were struck by the diversity of the growers we met. Some were growing for medicinal purposes because it is cheaper and more accessible. Others grew for recreational consumption, while some did it for the love of gardening.
But our main takeaway was how difficult it is to get a home-growing cannabis policy right. In the ACT, there are odd bits of law and outdated drug-policy thinking that can make it difficult for home growers to get started, access the supplies they need and share gardening knowledge.
Challenges aplenty
People in Canberra are doing a lot of experimenting and finding their own ways of growing – this is a developing knowledge base that should be celebrated. The people we interviewed are really interested in sharing their knowledge with others, but social barriers prevent many from doing so.
To date, there also aren’t any resources in Australia that aggregate data or the in-depth experiences of cannabis growers, like the kind available to gardeners of other plants. People can’t pop down to Bunnings for cannabis gardening advice. Gardening Australia hasn’t produced a feature on the preferred soil and nutritional needs of cannabis plants. And while there is online information, it mostly doesn’t address Australian growing conditions.
As one grower told us,
The climate is really tough in Canberra for the type of plant that cannabis is. It doesn’t do well over 30 degrees and it doesn’t do well under like 20-18 [degrees], maybe. And we’re like the extremes [here] – we’re freezing and boiling.
The greater obstacles, however, are legal in nature. For instance, the ACT cannabis law prohibits people from using “artificial” means to grow cannabis, such as hydroponics or artificial sources of light or heat.
This leaves cannabis growers in the difficult position of trying to manage the wintry Canberra climate without the heat lamps and other indoor growing aids they use for their capsicum and tomato plants. There are also no such prohibitions on artificial light or heat for officially sanctioned medicinal cannabis farms.
When an outdoor cannabis plant does flourish, the law also insists on a maximum yield of 150 grams of cannabis. Our interviewees are able to grow quite large (and potent) plants outdoors. So, what are they supposed to do with their excess cannabis? As one grower said,
Are you allowed to like give it to a friend? […] I don’t know if you can bag it up and put it in the garbage bin […] like do you take it down to the green waste, do I take my bushes down there? I don’t know.
Another obstacle: buying seeds is not permitted under the ACT law, so the Commonwealth prohibition stands. For many, this means acquiring seeds illegally from overseas markets. We spoke to plenty of people whose plants were fertilised and ended up producing seeds, leaving them in a legal quandary.
One grower pointed out the contradiction:
I think it’s sort of a half-arse law to be honest […] you’re allowed to smoke it, you’re allowed to grow, but you are not really allowed to buy any of the seeds or anything to make it.
Allowing a legally operated cannabis seed bank in the ACT makes practical sense. It would address a need we heard from cannabis growers – the importance of knowing the type of cannabis plant they are growing and its active ingredients. This includes the amount of THC (the psychoactive ingredient that produces the high), compared to CBD (the ingredient that reduces inflammation, pain, seizures and anxiety).
For those growing for medicinal purposes, this information is critical for matching their crops to their particular needs.
Lastly, we found that growing your own cannabis at home also requires an environment that supports it. For those in rental accommodation or unstable housing, it is often not possible. Passing laws to allow for cannabis community gardens or other open growing areas would address this problem.
What other states can learn
With increasing moves towards cannabis legalisation, we are seeing a field of green across Australia, and the world.
ACT growers have a lot to offer other Australian jurisdictions about how policies can better support home cannabis gardeners. It’s important to learn from their experiences so states and territories can get their policies right.
Authors
Alison Ritter
Professor & Specialist in Drug Policy, UNSW Sydney
Kari Lancaster
Scientia Associate Professor, Centre for Social Research in Health, UNSW Sydney
Laura McLauchlan
Postdoctoral Fellow in Anthropology, Macquarie University
Liz Barrett
Research Officer, UNSW Sydney
Matthew Kearnes
Professor, Environment & Society, School of Humanities and Languages, UNSW Sydney
by Grow Up Conference | Sep 8, 2023 | Cannabis Prospect Magazine, Media Partners
by Grow Up Conference | Sep 8, 2023 | Cannabis Prospect Magazine, Media Partners
by Grow Up Conference | Sep 8, 2023 | Cannabis Prospect Magazine, Media Partners
by Grow Up Conference | Sep 8, 2023 | Grow Opportunity, Media Partners
(CNW) Vancouver — C21 Investments Inc., a vertically integrated cannabis company, announced it has promoted its current head of Nevada operations, Aron Swan, to the newly created role of chief operating officer.
C21 established the COO role to support the company’s long-term growth objectives. Aron Swan has been the long-standing head of operations, and was responsible for the build-out and expansion of C21’s Nevada operations, including managing a team of more than 100 employees, developing strong vendor relationships, and ensuring rigorous compliance standards.
CEO and president, Sonny Newman: “I have been privileged to work closely with Aron since 2006. Aron excels at innovation, has vast experience running our business in the Nevada market, and has exceptional leadership skills. He has been integral to Silver State Relief since its inception in 2015, and has been instrumental in running our business and managing our growth initiatives. Aron is the perfect choice to lead our strategic growth objectives as we pursue expansion in our market.”
Aron and his team are currently completing construction of a drive-through at our Silver State Sparks dispensary, which will be among the first of its kind in Northern Nevada. The drive-through should be operational by October 2023.
Chief operating officer, Aron Swan: “I believe we are well-positioned to continue leading through difficult market conditions while at the same time pursuing thoughtful growth strategies. I look forward to continuing innovation efforts and improving efficiencies across our operations while meeting the challenges this industry presents.”
by Grow Up Conference | Sep 8, 2023 | Media Partners, Psychedelic News Wire
- In July 2023, LSDI launched Twilight, a new sleep aid product
- The company in July 2023 announced its acquisition of SANA-013 from Wesana Health; SANA-013 is being developed for the treatment of several mental health and central nervous system conditions
- LSDI in May 2023 launched its new Mindful product line designed to enhance well-being and promote a mindful approach to life
- Also in May 2023, the company announced a partnership with non-profit TheraPsil to advance medical psilocybin access and research
- LSDI announced in April 2023 that its board had approved the repurchase of up to 500,000 shares of its Class A common stock
Lucy Scientific Discovery (NASDAQ: LSDI) is an early-stage psychotropics manufacturing company focused on becoming the premier contract research, development and manufacturing organization for the emerging psychotropics-based medicines industry.
The company holds a Controlled Drugs and Substances Dealer’s License granted by Health Canada’s Office of Controlled Substances. This specialized license authorizes LSDI to develop, sell, deliver and manufacture pharmaceutical-grade active pharmaceutical ingredients (“APIs”) used in controlled substances and their raw material precursors. Lucy Scientific Discovery and its wholly owned subsidiary, LSDI Manufacturing Inc., operate under Part J of the Food and Drug Regulations promulgated under the Food and Drugs Act (Canada).
The company’s mission is to make its products and research services available for the development of medicines and experimental therapies to address certain psychiatric health disorders and other medical needs, including various mental health and addiction disorders. LSDI targets customers that include an increasing number of the leading universities, hospitals and other public, private and government institutions throughout the world that have launched research programs aimed at understanding the therapeutic potential of a range of psychedelic substances.
The company is headquartered in Victoria, British Columbia, Canada.
Products
LSDI produces a variety of high-quality natural, synthetic and biosynthetic products to meet the needs of the rapidly growing psychotropics-based medicines market. The company believes the emerging psychotropics industry will pave the way to a brighter future in mental health and overall wellness. LSDI is dedicated to advancing the frontiers of mind science and facilitating the development of psychotropic and psychedelic treatment therapies.
In Canada, the psychedelic compounds that LSDI is approved to produce under its Dealer’s License are regulated under the Controlled Drugs and Substances Act, or CDSA. Those compounds include:
- Psilocybin
- Psilocin
- Lysergic acid diethylamide, or LSD
- N,N-Dimethyltryptamine, or N,N-DMT
- 3,4-Methylenedioxymethamphetamine, or MDMA
- 4-Bromo-2,5-Dimethoxybenzeneethanamine, or 2C-B
The company also sells its consumer psychotropic products directly online and through retailers. Those products, described as microdose mushroom formulations, include a sleep aid, Twilight, and a mindfulness enhancer, Mindful.
Market Opportunity
According to a report from Global Market Insights, the psychotropics drug market had an estimated value of $20.2 billion in 2022 and is projected to reach a value of nearly $37.6 billion by 2032. That represents a CAGR of 6.4% for the forecast period. Factors driving market growth include the increasing prevalence of mental disorders, technological advancements in drug development, a rising geriatric population and increasing healthcare expenditures, the report states.
A growing awareness of mental health issues and an effort to reduce the stigma surrounding psychiatric disorders have encouraged more individuals to seek help, which in turn boosts the market. In addition, advancements in neuroscience, pharmacology and drug development have led to the discovery of new and more effective central nervous system therapeutics.
Innovative treatments offering better outcomes with fewer side effects attract patients and healthcare providers, also driving market growth.
Management Team
LSDI’s executive team brings deep experience in the development and commercialization of products featuring controlled substances, as well as the navigation of regulatory structures applicable to these products.
Richard Nanula is Chairman and CEO of LSDI. He has more than 35 years of leadership experience at several of the largest companies in the world, having been a senior executive at The Walt Disney Company, Amgen, Colony Capital and Starwood Hotels and Resorts. He has also served as a board member for Boeing Corporation and Starwood Capital, where he provided corporate guidance and oversight. He holds an MBA from Harvard Business School.
Assad J. Kazeminy, Ph.D., is Chief Scientific Officer at LSDI. He previously served as CEO of Irvine Pharmaceutical Services Inc. and Avrio Biopharmaceutical LLC, and he has founded several drug development companies. He has over 30 years of research and development experience in the biopharmaceutical industry. He received his Ph.D. in Pharmaceutical Science and Biochemistry from Esfahan University in Iran. He completed a Post Doctorate course of study at the University of Southern California Medical School, Department of Pharmacology.
Brian Zasitko, CPA, CA, is the company’s CFO. He is a Director of Invictus Accounting Group LLP, a professional services firm providing finance, advisory and accounting services. He also serves as CFO of Lobe Sciences Ltd., a company developing psychedelic compounds as therapeutics for the treatment of mild traumatic brain injuries and post-traumatic stress disorder. He has an undergraduate degree from Simon Fraser University and a CPA (“CA”) from Certified Professional Accountants, British Columbia.
For more information, visit the company’s website at www.LucyScientific.com.
NOTE TO INVESTORS: The latest news and updates relating to LSDI are available in the company’s newsroom at https://ibn.fm/LSDI
About PsychedelicNewsWire
PsychedelicNewsWire (“PNW”) is a specialized communications platform with a focus on all aspects of psychedelics and the latest developments and advances in the psychedelics 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, PNW 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, PNW brings its clients unparalleled recognition and brand awareness. PNW is where breaking news, insightful content and actionable information converge.
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by Grow Up Conference | Sep 8, 2023 | Grow Opportunity, Media Partners
(Globe Newswire) Vancouver — Christina Lake Cannabis Corp., a leading producer of high quality extracts, advanced products and sun grown cannabis, is pleased to provide details regarding a proposed non-brokered private placement.
The company announces that it intends to complete a non-brokered private placement with gross proceeds of up to $5,000,000. The company will be issuing convertible promissory notes secured by land and buildings. The note bears interest at a rate of 15 per cent per annum over a term of 36 months. Repayment of the note shall be in the form of interest only payments for the first 15 months and a blended principal and interest payment for the remaining term.
Outstanding principal and interest from the notes will be convertible into common shares at a conversion price of $0.06 per common share during the term. The company shall also have the right to redeem or repay the notes at any time during the term. The proceeds from the offering are expected to be used for repayment of outstanding debentures, working capital and general corporate purposes. The first tranche of the offering is expected to close on or about September 11, 2023, or such other date or dates that the company may determine, subject to the receipt of all required regulatory approval, including acceptance of the CSE. All securities issued in connection with the offering will be subject to a hold period of four months and one day from the closing date, in accordance with applicable Canadian securities laws.
Certain directors and officers of the company may acquire notes under the offering. Such participation will be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions (MI 61-101). The company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(b) and 5.7(1)(b), respectively, of MI 61-101, as neither the fair market value of the notes to be acquired by the participating directors and officers nor the consideration to be paid by such directors and officers is anticipated to exceed $2,500,000.
The securities issued under the offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
The company has also entered into an agreement for the purchase of additional processing equipment to fulfill growing demand for our high-quality outdoor flower. Under the agreement the company will purchase $277,675 CAD (+HST) worth of equipment, with monthly repayments extending for 36 months, beginning on October 15, 2023. Payments for the first 15 months of the term are interest only, with blended principal and interest payments commencing after December 15, 2024
by Grow Up Conference | Sep 8, 2023 | Media Partners, Stratcann
September 8, 2023 |
Staff
A cannabis nursery in New Brunswick and another in Ontario are teaming up to bring “seedless” cannabis cultivars to the Maritime provinces.
Hidden Harvest Inc., the only licensed cannabis nursery in New Brunswick, is bringing the seedless “triploid” cannabis cultivars to markets in Eastern Canada that were developed at the University of Guelph by researchers at Remix Genetics in Dundas, Ontario.
While most cannabis cultivars, or “strains,” have two sets of matching chromosomes, known as “diploid” or 2n, Remix Genetics says they have developed special polyploid cultivars with more than two sets of matching chromosomes. These cannabis strains are referred to as 3n, 4n, etc., depending on the number of matching chromosomes.
Remix maintains that these polyploid varieties can increase yield and finish faster, and can also create “seedless” strains that are not likely to produce seeds, saving growers headaches from lower yields.
Both companies say the first commercial offerings of this new product will be introduced to the market for purchase in early 2024.
“Innovation plays a crucial role in how Hidden Harvest delivers value to professional and at-home cannabis cultivators,” says Rod Wilson, CEO. “Our collaboration with Remix is an example and result of our continuous search for innovations that aid cannabis cultivators in achieving their harvest objectives.”
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