by Grow Up Conference | Jul 31, 2024 | Cannabis News Wire, Media Partners
Businesses in the cannabis industry, similar to other businesses, are required to comply with energy and environmental rules established by their respective states. Such rules may include how to adhere to standards on energy efficiency requiring specific lighting or HVAC equipment, or how to dispose of or treat wastewater.
This industry’s huge impact on the environment, particularly the significant use of water and energy, is drawing the attention of regulators. This has prompted some states to enact cannabis-specific environmental regulations in response. States that have taken such action include Illinois, California, New York, Michigan and Massachusetts.
A number of towns and cities have also implemented similar environmental measures, including Boulder, Colorado; Beverly, Massachusetts; and Grand Rapids and Ann Arbor in Michigan.
While these jurisdictions have their own regulations, some common themes have been observed, a good example being the efforts being made to decrease the high use of energy by the marijuana industry.
Below, we look at the ecoregulations of the different jurisdictions in detail.
Illinois
All growers in the state, depending on their size, are required to use variable refrigerant-flow HVAC units; split, ductless HVAC units; or similar energy-efficiency HVAC options. The state has also made it compulsory for growers to have equipment to capture condensate as well as automated watering systems.
It should be noted that the regulations apply only to recreational growers.
California
The state mandates that cultivators use chilled water systems and integrated HVAC systems with on-site heat recovery to reheat dehumidified air.
Vermont and New York
Both states require that during license renewals and applications, companies submit yearly reports showing their use of gas, water and energy.
Oregon and New Jersey
The states require that applicants of cultivation licenses submit waste-management plans as well as water and energy-use plans.
Massachusetts
The state of Massachusetts has implemented a rule similar to that of New Jersey and Oregon. It also directs that the lighting power density of all cultivators not be higher than 36 watts per feet of canopy.
While these regulations look easy enough to implement, Climate Resources Group’s principal Sam Milton says that isn’t the case. Milton explains that these rules are hard to enforce in these jurisdictions, with the exception of Massachusetts, which uses an independent third-party evaluator to ensure that licensees are conforming to environmental regulations. He also highlights the importance of growers being educated on the rebates afforded to them when they purchase energy-efficient equipment. Information and incentives, Milton notes, may be more effective than rules in this case.
This patchwork of environmental laws is just another illustration of the challenges that MSOs such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) have to contend with as they navigate different regulations in each market they are licensed to operate within.
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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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by Grow Up Conference | Jul 31, 2024 | Cannabis News Wire, Media Partners
- MedCana has identified Colombia’s Antioquia Valley as a perfect location to begin its initial rollout of technology and production
- The company is working with five subsidiaries in the area, each of which has three licenses to produce, process and export cannabis
- Equally important to MedCana is working closely with the people of the Antioquia Valley and maintaining its commitments to its investors
Cannabis legalization is not exclusive to North America. So far, more than 40 countries have legalized cannabis fully or partially for medical and/or adult use (https://cnw.fm/H7Jbq). With its focus on the global horizon, Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ) has a vision of building its partner companies into one of the world’s most advanced cannabinoid production and processing organizations.
MedCana has taken the first step in achieving that global mission. Recognizing that ideal climate conditions produce a better yield, the company announced that it has “searched the world over, and we believe the Antioquia Valley, near Medellin [Colombia], is the perfect location to begin our initial rollout of technology and production. We are partnering with companies [in the valley] to begin implementation of our technology and tools with our partners.
“The 6,900-foot elevation and latitude provide optimal spring-like weather year-round,” the announcement continued. “Natural rainfall and multiple artesian springs mean perfect, clean water. The soils are rich, and combined with the long days of sunshine, we can complete four complete growth cycles per year. This means access to highest-quality, inexpensive, certified materials in order to produce the highest-grade pharmaceutical extracts needed by the top pharmaceutical companies in the world” (https://cnw.fm/xCkap).
MedCana is working with five subsidiaries, each of which has three licenses to produce, process and export cannabis. Currently, the five companies are sharing 100 acres of some of the “finest land on earth” for development; the property includes fresh artesian springs, river frontage and majestic countryside.
On top of ideal outdoor growing conditions, MedCana companies are also building greenhouses to take full advantage of all the climate offers. The first phase of production includes an estimated seven acres of initial greenhouse space combined with state-of-the-art monitoring technology and highly trained staff.
“Because of excellent weather, long days and highly skilled, inexpensive labor, costs decrease dramatically,” the company reports. “An average of 12 hours of sunshine every day, perfect local soils, and plentiful rain and natural springs mean we’ll be able to grow up to four full seasons per year without the cost of expensive and power-hungry lighting.”
However, MedCana isn’t singularly focused on profit. Equally important to the company is working closely with the people of the Antioquia Valley and maintaining its commitments to its investors. “MedCana is out to prove you can do good and do well,” the company promises. “Our initial partnership in the Antioquia Valley operation will employ people from the local villages and pay some of the best salaries for agricultural trades in the country. In addition, MedCana will give back to the local communities to improve the lives of the residents. Schools, clinics, and civic projects will all benefit from our operation.
“And by doing good, we’ll do well,” the company continues. “Even with the high local salaries, our partner companies will be operating at costs far lower than in the United States, Europe and Asia. We estimate that all our efficiencies will result in a lower price of finished, top-quality, pharmaceutical grade CBD oil, [with costs] dramatically lower than production in the Northern Hemisphere.”
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.
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by Grow Up Conference | Jul 31, 2024 | Cannabis News Wire, Media Partners
- Lexaria, a global innovator in drug delivery platforms, has released interim results from its WEIGHT-A24-1 animal study
- The study sought to explore the impact of its patented DehydraTECH technology on glucagon-like peptide-1 (“GLP-1”) drugs for the potential treatment of diabetes and weight loss, representing a major global market
- The first 28 days of dosing yielded positive results that Lexaria’s management described as “noteworthy”
- It also marked a significant milestone for the company and the first time it has used liraglutide in any of its GLP-1 studies
Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery enhancement, just released interim results from its WEIGHT-A24-1 animal study. The study evaluated the company’s patented DehydraTECH technology and its potential to address diabetes and weight loss. The first four weeks of dosing was successful, with Lexaria’s management describing its findings as “noteworthy” (https://cnw.fm/nRqEL).
The first phase of this study involved eight study arms, four of which used varying compositions of DehydraTECH-processed CBD. Two of the arms used reformulated Rybelsus(R) composition, which included DehydraTECH and sodium salcaprozate (“SNAC”) technology. In contrast, the last two used pure GLP-1 drugs, primarily semaglutide and liraglutide, respectively, without SNAC inclusion. This marked the first time Lexaria has used liraglutide in any glucagon-like peptide-1 (“GLP-1”) study.
“This is the first time that DehydraTECH processing was applied to the GLP-1 drug liraglutide, and it is encouraging to witness its relative outperformance,” noted Lexaria’s official reporting on the findings.
Over the course of the study, unlimited food and water were provided to the animals. In the initial acclimation phase, 34 days before the beginning of dosing, the animals gained 10.9% body weight on average. During the subsequent 28 days of dosing, all animals showed either a noticeable decrease in the rate of body weight gain or the beginning of weight reduction. Most notably, DehydraTECH-liraglutide and DehydraTECH-CBD produced the most significant weight loss results at -1.58% and -1.50%, respectively.
For Lexaria, this marks a significant milestone, not just with using liraglutide in its studies but also in closing the first eight study arms and evaluating results from the first 28 days of dosing. An additional 56 days of dosing remains across all treatment groups. Its management is optimistic about upcoming results, with the confidence that the progress achieved will be integral in shaping the outcome of future studies.
Dosing for Cohort 2 of the study has already begun and is expected to be completed in mid-October. This Cohort will feature four study arms, including a positive control arm, a placebo arm, a combined DehydraTECH-semaglutide with DehydraTECH-CBD arm, and a combined DehydraTECH-liraglutide with DehydraTECH-CBD.
This study affirms the company’s focus on both medium-term and longer-term strategies. Its management is optimistic about this undertaking and looks to follow through with it within its set timelines.
For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX
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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by Grow Up Conference | Jul 30, 2024 | Media Partners, Stratcann
Greenway Cannabis reported a $4.7 million loss from $5.2 million in net revenue for the year ending March 31, 2024.
This is a decrease in net revenue ($5.6 million in 2023) and an increase in loss and comprehensive loss ($2.6 million in 2023) compared to the previous year. The Ontario cannabis producer reports incurring $3,641 in excise tax for the year ending March 31, 2024.
Greenway Greenhouse Cannabis Corporation operates a nursery facility in Kingsville and a flowering and processing facility in Leamington.
As of March 31, 2024, Greenway reports a working capital deficiency of $852,605 (compared to $419,683 for March 31, 2023) and an accumulated deficit of $17,752,663 (March 31, 2023 – $14,453,209).
The Company says it has insufficient cash to pay creditors for its current working capital obligations and operations for the next twelve months. Its ability to continue as a going concern is dependent upon its ability to obtain sufficient additional funding and generate sufficient revenues and positive cash flows from its operating activities to meet its obligations and fund its planned investments and operations. This indicates the existence of a “material uncertainty that may cast a significant doubt about the Company’s ability to continue as a going concern.”
Greenway sold the equivalent of 5,548,692 grams of cannabis in its most recent fiscal year, a 33% increase from the previous year. As of March 31, 2024, it had an average cash cost of $0.74 per gram and a weighted average cash cost per gram of $0.60 of finished goods inventory on hand.
Cash cost per gram sold increased in Q4 2024, but cash cost per gram in finished goods decreased to its lowest level in the past year.
“This year, we’ve achieved record sales volumes, dramatically reduced liabilities, launched our first consumer brands in Ontario, completed a $3.5m private placement, and subsequent to our year end received the accreditation necessary to begin exporting Greenway cannabis internationally,” said Jamie D’Alimonte, CEO of Greenway. “Our team has been working to open up new avenues for our products and to diversify our revenue. The next steps for our team is to continue to increase the value we get from every gram we produce, and to continue to expand into our cultivation area to meet our ever-increasing demand.”
On April 26, 2024, Greenway announced that it had received CUMS-GAP and GACP certification, providing a pathway to distribute its product internationally.
On June 13, 2024, Greenway announced its MillRite Pink Moon was launching in a 2 x .5 gram pre-roll format across Ontario. It has also had its first two brands and SKUs accepted by the Ontario Cannabis Store (“OCS”) through the Winter 2023-2024 product call.
by Grow Up Conference | Jul 30, 2024 | Cannabis News Wire, Media Partners
The Court of Criminal Appeals in Oklahoma recently made a ruling that women who hold state medical cards and use cannabis during pregnancy cannot be charged with child neglect. This ruling marks an important victory for Amanda Aguilar, who has been waiting almost four years for this outcome.
In 2020, Aguilar was charged with felony child neglect in Kay County following her newborn son’s positive test results for cannabis at birth. This legal dispute has created significant stress for the single parent of five children and limited her employment options.
After learning of the court’s ruling, Aguilar said, “I might have given up if it were about something else, but since it was related to my children, I knew I had to keep fighting.”
Aguilar’s story was first highlighted in the Frontier and the Marshall Project in 2022. During her pregnancy, she used medical cannabis to alleviate severe morning sickness, and she had a doctor’s authorization for its use. Despite her son being born healthy, the hospital reported her to child welfare officials, who then shared the baby’s drug test results with law enforcement.
The recent ruling establishes a new legal standard in the state, where an increasing number of women — even those with valid medical licenses — have been charged with child neglect for using cannabis when pregnant.
According to reports published earlier this year by the Frontier and the Marshall Project, many women who are charged in these types of instances frequently cannot afford to hire a private attorney. Therefore, rather than contesting the charges in court, the majority of them choose to accept plea agreements that result in probation.
The court’s decision made it apparent that although they do not support pregnant women using marijuana, Oklahoma nonetheless permits cannabis use. The court has also urged the state legislature to reevaluate the laws that are now in place regarding this matter, implying that new legislation may be required to address potential criminal charges against marijuana-using pregnant women.
Two judges, however, dissented from the decision, noting that Aguilar’s unborn child lacked a separate medicinal marijuana license. They argued that neither politicians nor voters intended for unborn children to be exposed to medical cannabis when they enacted legislation.
At least five cases similar to Aguilar’s have been dismissed by judges in Kay County in the last year on the grounds that the use of medical cannabis is legal in Oklahoma and that no crimes were committed. Brian Hermanson, the district attorney for Kay County, has filed child neglect charges against many women in the area for drug use during pregnancy, with many of the cases involving medical cannabis. He has filed an appeal in Aguilar’s case as well as one similar to it, arguing that the mothers broke the law by not having their unborn children’s medical cannabis permits.
As these issues are resolved by the courts of law, cannabis companies such as Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) will have more clarity regarding the regulatory nuances that exist within the different marijuana markets in the country.
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by Grow Up Conference | Jul 30, 2024 | Grow Opportunity, Media Partners
BY BEN STEVENS
Germany’s Federal Institute for Drugs and Medical Devices (BfArM) has now issued the first three new licences for domestic cannabis cultivation, expected to see the amount of product grown in the country at least double this year.
Following the passage of CanG on April 01, Germany has made significant amendments to its Medical Cannabis Act, which has been in place since 2017.
Read the full story here.
by Grow Up Conference | Jul 30, 2024 | Grow Opportunity, Media Partners
(Globe Newswire) New York and Leamington, Ont. – Tilray Brands, Inc., a global lifestyle consumer packaged goods company elevating lives through moments of connection, today reported financial results for its fourth quarter and fiscal year ended May 31, 2024.
Irwin D. Simon, chairman and CEO, stated, “Tilray Brands is leading the convergence of cannabis, beverages, and wellness on a global scale. In Fiscal 2024, the company achieved remarkable growth across its businesses, with a 26% increase in net revenue over the prior year, record-breaking performance in gross profit and adjusted EBITDA, and generated positive adjusted free cash flow for the fiscal year. We have also significantly reduced our net convertible debt by ~$300 million and surpassed our cost-savings synergy target, which has strengthened our balance sheet. These results were driven by our successful execution of our diversification strategy, which we started in 2020, and the hard work of our team.”
Mr. Simon continued, “Tilray Brands also successfully completed three acquisitions – the eight iconic craft brands from Anheuser-Busch Companies, LLC., HEXO Corp., and Truss Beverage Co. These acquisitions were strategic in fortifying Tilray’s house of brands, strengthening our operations, and positioning the company as a leader across several industries and regions. In the U.S., Tilray Beverages is the 5th1 largest craft brewer and Tilray Wellness is the leader in hemp products. In Canada, Tilray Cannabis holds the #1 recreational cannabis market share, while in Europe, it is the market leader in medical cannabis. Leading the convergence of cannabis, beverages, and wellness, Tilray Brands is poised to continue to disrupt the CPG industry globally.”
Financial Highlights – 2024 Fiscal Fourth Quarter
- Net revenue increased 25% to $229.9 million in the fourth quarter compared to $184.2 million in the prior year quarter.
- Gross profit was $82.4 million in the fourth quarter compared to $67.2 million in the prior year quarter. Gross margin and adjusted gross margin2 were both 36%.
- Beverage-alcohol net revenue increased 137% to $76.7 million in the fourth quarter from $32.4 million in the prior year quarter. The increase was led by new product innovation and contributions from our Craft Acquisition brands.
- Beverage-alcohol gross profit increased 146% to $40.8 million in the fourth quarter from $16.6 million in the prior year quarter. Adjusted beverage-alcohol gross profit increased 130% to $41.0 million from $17.8 million in the prior year quarter.
- Beverage-alcohol gross margin increased to 53% in the fourth quarter compared to 51% in the prior year quarter and adjusted gross beverage alcohol margin2was 53% in the fourth quarter compared to 55% in the prior year quarter.
- Cannabis net revenue increased 12% to $71.9 million in the fourth quarter compared to $64.4 million in the prior year quarter, driven in part by the acquisitions of HEXO and Truss.
- Cannabis gross profit and adjusted gross profit2 decreased to $28.8 million in the fourth quarter from $39.5 million in the prior year quarter.
- Cannabis gross margin and adjusted gross margin2were 40% in the fourth quarter compared to 61% in the prior year quarter. A substantial portion of the decrease is a result of the completion of the HEXO advisory services agreement in Q1 fiscal 2024.
- Distribution net revenue was $65.6 million in the fourth quarter compared to $72.6 million in the prior year quarter. The decrease was driven by management’s focus on discontinuing less profitable product lines demonstrated by Distribution’s gross margin increasing to 12% in the fourth quarter compared to 9% in the prior year quarter.
- Wellness net revenue increased 6% to $15.7 million in the fourth quarter from $14.8 million in the prior year quarter.
- Net loss narrowed to ($15.4) million in the fourth quarter compared to net loss of ($119.8) million in the prior year quarter, almost all of which is a result of non-cash expenses. Adjusted net income2 was $35.1 million in the fourth quarter compared to a loss of ($11.8) million in the prior year quarter
- Net loss per share narrowed to ($0.04) compared to ($0.15) in the prior year quarter. Adjusted net income (loss) per share2 was $0.04 compared to a loss of ($0.02) in the prior year quarter.
- Adjusted EBITDA2 increased 37% to $29.5 million in the fourth quarter compared to $21.5 million in the prior year quarter.
Financial Highlights – 2024 Fiscal Year
- Net revenue increased 26% to $788.9 million in fiscal 2024 compared to $627.1 million in the prior fiscal year.
- Gross profit was $223.4 million, while adjusted gross profit2 increased 14% to $235.6 million in fiscal 2024. Gross margin was 28% and adjusted gross margin2 was 30%.
- Beverage-alcohol net revenue increased 113% to $202.1 million in fiscal 2024 from $95.1 million in the prior fiscal year.
- Beverage-alcohol gross profit increased 91% to $88.6 million in fiscal 2024 from $46.3 million in the prior fiscal year. Adjusted beverage-alcohol gross profit2increased to $93.2 million from $50.8 million in the prior fiscal year.
- Beverage-alcohol gross margin was 44% in fiscal 2024 compared to 49% in the prior fiscal year and adjusted gross beverage alcohol margin2 was 46% in fiscal 2024 compared to 53% in the prior fiscal year, reflecting lower contribution margins from the acquired brands.
- Cannabis net revenue increased 24% to $272.8 million in fiscal 2024 compared to $220.4 million in the prior fiscal year, reflecting the acquisitions of HEXO and Truss as well as growth across international markets.
- Cannabis gross profit increased to $90.2 million in fiscal 2024 from $57.7 million in the prior fiscal year. Adjusted gross profit2 was $97.8 million compared to $112.7 million in the prior fiscal year as a result of the advisory service agreement concluding in Q1 fiscal 2024.
- Cannabis gross margin was 33% in fiscal 2024 compared to 26% in the prior fiscal year. Adjusted cannabis gross margin2 was 36% compared to 51% in the prior fiscal year.
- Distribution net revenue and gross margin remained consistent at ~$259 million and 11% in fiscal 2024 compared to the prior fiscal year.
- Wellness net revenue increased 5% to $55.3 million in fiscal 2024 from $52.8 million in the prior fiscal year.
- Wellness gross margin was 30% in fiscal 2024 compared to 29% in the prior fiscal year.
- Net loss decreased to ($222.4) million in fiscal 2024 compared to net loss of $(1.4) billion in the prior fiscal year, almost all of which is a result of non-cash expenses. Net loss per share narrowed to $(0.33) and improved compared to a net loss of $(2.35) in the prior fiscal year.
- Adjusted net income2 increased to $6.2 million in fiscal 2024 compared to adjusted net income2 of $0.4 million in the prior fiscal year. Adjusted net income per share2narrowed to $0.01 compared to $0.00 in the prior fiscal year.
- Adjusted EBITDA2 increased to $60.5 million in fiscal 2024 compared to $58.7 million in the prior fiscal year.
- Strong financial liquidity position of ~$260.5 million, consisting of $228.3 million in cash and $32.2 million in marketable securities.
- Reduced outstanding principal of the net convertible debt by $291.0 million compared to the previous fiscal year.
- Net cash used in operating activities was $(30.9) million in fiscal 2024 compared to $7.9 million net cash from operating activities in the prior year.
- Adjusted free cash flow2 of $6.6 million in fiscal 2024 compared to $19.1 million in the prior year.
by Grow Up Conference | Jul 30, 2024 | Media Partners, Oaksterdam University
Oakland, Calif. (July 22, 2024) – The State of New Jersey has centered social equity efforts in the launch of its in-state cannabis market, including through the first-of-its-kind program to provide direct financial and technical assistance to qualifying social equity applicants. The New Jersey Economic Development Authority directly supported 48 Seed Equity Grant Program recipients through grant funding and education provided by Oaksterdam University. This program provided targeted education and training to help advance their businesses, and many are crediting their ability to open their businesses with this vital support.
Oaksterdam University developed this intensive 9-week program specific to New Jersey laws and regulations that included comprehensive education and one-on-one assistance with local and national experts so that participants had every resource they needed to open and successfully manage their businesses.
“Oaksterdam crafted an intensive Technical Assistance Program for the NJEDA with local and national experts to help mitigate risks for long-term sustainability, and the participants leaned in. These small business owners are tenacious and are becoming the backbone of New Jersey’s legal industry,” said Dale Sky Jones, Executive Chancellor of Oaksterdam University. “Folks interested in supporting these entrepreneurs can do so with purchase power by asking for equity brands and shopping equity-owned businesses.”
Many NJEDA grantees now opening their businesses recognize support from the NJEDA and Oaksterdam as critical to their success.
“I am thrilled to announce that Simply Pure Trenton is officially opening its doors. This journey wouldn’t have been possible without the invaluable support from Oaksterdam University and the NJEDA. Oaksterdam’s comprehensive education on cannabis operations has been instrumental in getting us to this milestone,” said Tahir Johnson, Seed Equity grantee and owner of Simply Pure Trenton, which will celebrate its grand opening on July 27. “Anything we do in cannabis just reminds me how much my success means to the people here, and this program helped me get here.”
Also in Trenton, Seed Equity grantee John Dockery is celebrating the opening of his dispensary, Moja Life. “Oaksterdam has helped me tremendously. They are very knowledgeable and resourceful for operators like myself,” Dockery said.
Nature’s Motivation, owned by NJEDA graduate Juan Rivera Cappaluchi, also recently opened its doors to the public in Irvington. “This program was vital to me and my business. It made me realize how much I didn’t know. The coaching, staff, and resources provided were invaluable,” Rivera Cappaluchi said.
The Seed Equity Grant Program and the CTAP are part of Phase II of the Cannabis Equity Grant Program, which the NJEDA Board approved in 2022. All of the funding for Phase II was awarded to qualifying social equity applicants as designated by the New Jersey Cannabis Regulatory Commission, including those who live in economically disadvantaged areas or have cannabis-related convictions. The combination of training, education, and financial support further catalyzes investments in historically underserved communities and those most affected by the War on Drugs.
“Under Governor Phil Murphy’s leadership, New Jersey is creating a strong, equitable, and inclusive cannabis industry that will create jobs and revitalize communities,” said NJEDA Chief Executive Officer Tim Sullivan. “For too long, the War on Drugs has disproportionately impacted communities of color. The Seed Equity Grant was designed to support diverse cannabis entrepreneurs who have been harmed by years of unjust policies and to help unlock access to the cannabis market to ensure they reap the industry’s economic benefits. I congratulate the graduates and look forward to their success in New Jersey’s cannabis industry.”
by Grow Up Conference | Jul 30, 2024 | Garden Culture Magazine, Media Partners
Many growers won’t reach for the spray bottle until they see a deficiency or pest issue and desire a “quick fix.” However, as Everest Fernandez explains, foliar feeding—spraying nutrients directly onto plants’ leaves—should arguably be part of your weekly garden schedule.
How Does Foliar Feeding Work?
Nutrient Uptake through Leaves
Imagine the leaf as a bustling hub. Light hits the leaf, allowing the tiny engines inside, known as chloroplasts, to convert water and carbon dioxide into glucose through photosynthesis. This glucose powers the plant and contributes to the compounds we aim to produce. Did you know a whopping 95% of a crop’s weight comes from photosynthesis?
So, how does foliar feeding help? In 1956, Dr H. B. Tukey’s research unveiled an exciting discovery. Using radioactively tagged nutrients, he found that plants absorbed nutrients not only through roots but also through their leaves, and incredibly, they do so 8 to 10 times more efficiently via their leaves. This suggests that direct application to the leaves can provide nutrients where needed, boosting photosynthesis and the plant’s overall metabolic rate.
However, there’s a challenge: the leaf’s waxy cuticle. It acts as a barrier. But science has a solution: special wetting agents that can penetrate this barrier without harming it, allowing nutrients to enter the leaf efficiently. This direct delivery to the leaf’s active parts results in a quick, beneficial response.
Understanding the Leaf’s Inner Workings
Once inside the leaf, nutrients face barriers like the cell wall and membrane. Most supplements can easily pass the porous cell wall. The cell membrane, however, is pickier. Some nutrients can move through effortlessly, while others need special channels or processes to get inside.
The good news is that plants have various methods of allowing these molecules inside, such as facilitated and active transport.
The Case for Foliar Feeding: Best Way to Apply Foliar Fertilizer
Foliar feeding’s benefits go beyond just nutrient uptake. Certain supplements, like those that enhance photosynthesis, work best when applied directly to leaves. Evidence suggests that foliar-applied nutrients can be more efficiently absorbed than root-based nutrients. For instance, a study by the University of Florida found that foliar application of certain nutrients led to substantially larger citrus fruits than ground applications.
Chelated nutrients are wrapped in molecules to aid absorption and are particularly beneficial when applied as foliar sprays. They’re absorbed and distributed more evenly throughout the plant. Urea, another substance, when foliar applied, provides an efficient nitrogen source for plants, bypassing the challenges it faces when applied to soil.
Get Seaweed Extract in the Mix!
Also, seaweed extracts, especially from types such as Ascophyllum nodosum, are increasingly recognized for their efficacy as foliar spray biostimulants. These solutions contain valuable elements, like cytokinins, auxins, betaines, and essential minerals, all enhancing plant health, growth, and robustness. Plants, when faced with adversities like drought, salt stress, or threats from pests and diseases, can find relief with the application of these seaweed solutions. These sprays support plants by boosting their antioxidant defenses, regulating water balance, and fostering the production of proteins and enzymes crucial under stress. Furthermore, these seaweed-infused sprays can lead to better nutrient absorption, invigorated root systems, and augmented crop yields.
Key Takeaways
Foliar feeding offers a range of benefits, from increased yields, disease resistance, and improved drought tolerance to faster nutrient deficiency remedies and enhanced crop quality. While the method’s efficiency varies, it can be up to 20 times more effective than root application. Still, while it’s a valuable tool, foliar feeding shouldn’t replace a comprehensive root-fertility program. Instead, it should be seen as a fantastic supplement to optimize plant health and yield.
by Grow Up Conference | Jul 30, 2024 | Media Partners, Psychedelic News Wire
Psychedelic policies at the state level have been evolving as more states decriminalize these substances. This has highlighted the need for conversation on how psychedelic sales would operate in a way that retains safety measures and essential regulation while still broadening access to their therapeutic benefits.
RAND Drug Policy Research Center recently released a report discussing potential policy options for psychedelic sales. The think tank’s report begins by emphasizing that the time has come for federal policymakers to decide how psychedelics would be supplied, especially since legislation for retail psychedelics are already being discussed in some states. It highlights that when it comes to psychedelic supply, the supply architecture is crucial.
Here, federal policymakers should focus on what entities are allowed to sell psychedelics? Is it government authorities? For-benefit corporations? Nonprofits?
The think tank argues that while the federal government having monopoly on psychedelic distribution may make product safety easier, it would be ironic to afford the government sole power to legally sell these substances given the role it played in the war on drugs.
The report also makes a case for for-benefit corporations, explaining that possible excesses from psychedelic commercialization could be evened out by emphasis on equity or public health. In addition, the report looked at for-profit sales, observing that while this approach could benefit consumers by increasing competition and causing price reductions, it creates an incentive for companies to increase their consumer bases through innovation and advertising, which is a slippery slope when it comes to potent substances such as psychedelics.
In addition, RAND discusses legalizing psychedelic sales through nonprofits, offering the example of countries such as Germany, Spain and Uruguay, which have established a nonprofit model for marijuana that could be adapted for psychedelic substances. This approach, the report notes, applies more restriction in comparison to the others.
Another approach on psychedelic use has been proposed through a measure introduced by New York Representative Amy Paulin. The measure takes a path similar to that of a driving license and adapts it for psychedelics.
Under the measure, individuals aged 18 and above would have to take an educational course, be screened and pass a test in order to obtain a permit to purchase psychedelics from licensed parties. With this permit, they would be allowed to use the drugs in their homes, cultivate mushrooms on their premises and share the substances with other adults who also have permits.
Unlike the RAND report, which centers on licensing psychedelic supply, the model proposed under this bill centers on who possesses licenses to buy and consume these substances.
Different jurisdictions will have to consider which policy option best aligns with their needs and reality. Whatever route states choose to take, the pioneering work of many startups such as Mind Medicine Inc. (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ) cannot be ignored because it was vital to generating the momentum driving public and investor interest in these substances that were driven into near obscurity by decades of criminalization.
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