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International Cannabis Business Conference To Host Virtual Global Cannabis Symposium June 9th

Written by Johnny Green on . Posted in Business.

The International Cannabis Business Conference is excited to announce that we are hosting a virtual cannabis symposium on June 9, 2020. The International Cannabis Business Conference’s in-person events are known worldwide for providing unparalleled information from true experts in the cannabis industry and important public policy information from leading regulators and elected officials.

International Cannabis Business Conference’s Virtual Global Cannabis Symposium will offer the same world-class experience for attendees, but this time it will be provided virtually (including an enhanced virtual networking platform) so that attendees can enjoy the event from the comfort of their own homes.

Renowned travel writer, author, activist, and television personality Rick Steves will provide the keynote address for the Virtual Global Cannabis Symposium. Steves is one of the most recognizable and beloved individuals on earth and is also a longtime cannabis advocate. In addition to hosting his acclaimed travel shows, Rick Steves has endorsed and publicly campaigned for numerous cannabis reform efforts. We are very proud to have him as part of our virtual event.

In addition to Rick Steves, the International Cannabis Business Conference Virtual Cannabis Symposium will also feature other cannabis advocates, industry experts, and celebrities, including:

  • Actor and musician Tommy Chong
  • National Cannabis Industry Association co-founder and Executive Director Aaron Smith
  • 4-time NBA Champion John Salley
  • Peter Homberg, partner at leading international law firm Dentons
  • Comedian Doug Benson
  • Nic Easley, CEO of 3C Consulting and CEO & Managing Director of Multiverse Capital
  • Hip hop legend DJ Muggs
  • Lorenza Romanese, Managing Director at the European Industrial Hemp Association
  • Legendary cannabis activist and entrepreneur Debby Goldsberry
  • John W. Conroy QC of Conroy & Company
  • Leading cannabis industry investment expert Alan Brochstein
  • Graham Dallas, Head of Business Development for TMX Group
  • Simón Pablo Espinosa, CEO of En Volá

The International Cannabis Business Conference Virtual Global Cannabis Symposium will cover a range of topics, including international cannabis policy updates, industry trends, emerging industry opportunities, and much more.

Early bird pricing ends June 3rd, and prospective attendees are encouraged to take advantage of the discounted rate before early bird pricing expires. No other virtual cannabis event has featured as many leading experts and celebrity personalities, and you do not want to miss the International Cannabis Business Conference Virtual Global Cannabis Symposium. Get your tickets today!

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Israel Government Permits Medical Cannabis Exports

Written by Johnny Green on . Posted in Medical.

Israel is a true pioneer when it comes to medical cannabis policy and cannabis research. After all, it was in Israel that International Cannabis Business Conference alumni Raphael Mechoulam first isolated THC.

The results and findings from cannabis research that was conducted in Israel have benefitted the entire world, not just Israel. The United States has especially benefitted from Israel’s research because of how long research has been hindered in the U.S.

Unfortunately, Israel is behind in one very key area of medical cannabis policy – exports. Knowledge and research may have made it past Israel’s borders, however, the same has not been true for legal medical cannabis products. Fortunately, that is changing. Per The Jerusalem Post:

A free export order for medical cannabis products was signed by outgoing Economy Minister Eli Cohen on Wednesday, approximately 16 months after the government approved exports of locally grown medical cannabis for the first time.

Exporters interested in selling permitted cannabis goods abroad will be required to receive a license from the Health Ministry once the free export order enters into force in another 30 days.

Allowing legal cannabis exports out of Israel is a policy change that is way overdue. Israel possesses more knowledge about medical cannabis than arguably any other country on earth, and suffering patients in other countries should be able to benefit from that knowledge via access to Israeli medical cannabis products.

Entrepreneurs inside and outside of Israel also deserve to help facilitate getting quality products into the hands of suffering patients. Every country should be able to import and export medical cannabis products in a similar fashion that other proven medicines are able to be legally imported and exported.

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Albania Moves Closer To Legal Cannabis Cultivation

Written by Marguerite Arnold on . Posted in Medical.

Albanian Prime Minister Edi Rama announced that the country’s legislators are close to concluding a draft law allowing the cultivation of medical cannabis. He made the announcement during a live conference of “Europe Day” on May 9.

Albania has long been criticized for being a major transit point for drugs of all kinds entering Europe from Asia and Latin America as well as a major source of black market cannabis grown in the country itself.

The Albanian proposal appears to be modeled on its neighbour, North Macedonia’s model, with a long stretch of coast on the Mediterranean. The country, like North Macedonia, also borders Greece to the south.

However, like North Macedonia, successful companies will be required to have a million euro bank guarantee and at least 15 employees. This means that only the largest cultivators, and presumably those with foreign contacts, will be able to qualify for licenses. Like North Macedonia, Albania is not yet a part of the EU. Indeed efforts to control illegal trafficking are part of the country’s plan to become an EU state.

Currently, cannabis possession in the country is still illegal. There is no medical marijuana program, although presumably, the passage of the new law will begin to create a structured pathway for patients to access the drug and doctors to prescribe it.

Illicit cannabis trafficking first came to the attention of authorities in the 1990s after the fall of the communist state, when cannabis cultivation that had mainly been concentrated in the south of the country became more widespread – and for the simple reason of trying to find some kind of economic stabilization in the turbulent years that followed, including a bloody civil war.

In 2012, Albanian police seized almost twice as much illicitly grown cannabis as they had the year before. In 2013, Albania made global headlines when police tried to shut down production in Lazarat, a region considered the centre of illicit production in the mountainous southern region of the country. About 90% of the villages in the region were thought to be involved in the illegal trade of cannabis in some way. Indeed villagers mounted an armed resistance that involved the populace of all ages.

Between 2014 and 2018, police in Albania cracked down dramatically on illegal cultivation of the plant. In 2016, estimates placed the illegal market at 3.5 billion euros – or about half of the entire Albanian GDP for the year. By the mid-2000’s, 77% of the cannabis in Italy actually originated in Albania, carried across the Ionian Sea in speedboats.

For an up-to-date snapshot of the European cannabis market, be sure to book your tickets for the return of the International Cannabis Business Conference to Europe in Fall 2020

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Is Joe Biden Finally Coming On Board With Cannabis?

Written by Marguerite Arnold on . Posted in Politics.

Remote campaign stumps, and a flagging economy aside, one of the key issues for the 2020 presidential campaign in the United States will absolutely include cannabis reform.

So far, the Democratic Party itself, which dates back to the back door squabbling seen since 2014, has been less than progressive on the topic of cannabis. Bernie Sanders put the issue squarely in the national spotlight, but this issue alone was not enough to get him to the top of the Democratic nominee ticket.

However, in another sign that Biden is taking policies straight from the Bernie playbook, in early May, the former VP and this year’s Democratic presidential contender, appears to be incorporating certain aspects of normalization into his policies, should he become president.

Biden’s platform for racial justice released plans for modest drug reform proposals, focusing rather on decriminalization for the use of cannabis rather than full legalization. He also proposed expunging all prior cannabis use convictions which his campaign released earlier this month.

While the proposal also talks about normalizing all drug sentencing (i.e. eliminating harsher sentencing for crack rather than cocaine) as well as changing broader criminal justice policies such as mandatory minimum sentencing and diverting people with minor drug convictions to treatment rather than prison, many advocates are still hoping that he will up the ante on cannabis a bit more. If not before the election, then certainly after it.

Before he occupied the White House, Biden’s record was far from progressive on drugs, and during his time in the Senate, he both authored and supported punitive drug laws that contributed in no small part to mass incarceration, including many in the African American community. The Obama White House, in which Biden served as a Vice President, also moved slowly on the cannabis issue, although it was during the Obama Presidency that the legal state movement finally took off. Under Trump, those procedural protections for the states, known broadly as the Cole Memo, were unraveled although new states have come online during his presidency, on both the medical and recreational front.

While it is clear that Biden is shifting his position, in part due to Trump’s intransigence on federal reform and also to try to attract Sanders’ supporters, who have so far been lukewarm about the Democratic contender, it will clearly not be enough.

The cannabis industry has continued to power through the Covid Pandemic, although clearly it has also been affected by shutdowns and restrictions in every state. But five and a half years after the start of the Colorado and Washington State recreational markets, and numerous states following suit, it will inevitably be a source of jobs in a country now in the midst of the worst economic crisis in ninety years. Federal reform is necessary if only to normalize a now wide-spread industry that generates billions of dollars and creates thousands of American jobs.

Time will tell how convincing the now large and established cannabis industry will be over the summer and into the fall election in pushing Biden to take a stand Americans want and have been advocating for, for decades. That said, legalization might well be the issue that helps Biden clearly not only distinguish himself from Trump in a world where healthcare concerns are increasingly a priority for Americans, and indeed, where cannabis itself might help prevent future infections, if not help those inoculated with a future vaccine better tolerate their medicine.

For the best global updates on the state of the cannabis industry, be sure to attend an International Cannabis Business Conference event as the world starts normalizing later this year.

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U.S. Cannabis Banking Reform Included In Latest House COVID-19 Relief Bill

Written by Johnny Green on . Posted in Politics.

Banking reform is desperately needed in the United States. Many cannabis companies have had their accounts shut down and many others were never able to get banking access to begin with due to current federal policy.

The banking issue in the U.S. has also affected other countries, with Jamaica specifically stating that banking policies in the U.S. have negatively impacted their ability to conduct international cannabis operations despite Jamaica’s cannabis policies.

Today news broke that banking reform was included in a measure that was introduced by the U.S. House of Representatives. Below is a press release about it from our friends at the National Cannabis Industry Association:

WASHINGTON, D.C. – On Tuesday, Speaker of the House Nancy Pelosi unveiled the newest bill to provide the next stage of coronavirus relief funding and included language that would improve access to banking services and loans for the regulated cannabis industry. The banking language is identical to the House-approved Secure and Fair Enforcement (SAFE) Banking Act and would make it easier for financial institutions to work with cannabis businesses that are in compliance with state law, as well as help address serious public health and safety concerns caused by operating in predominantly cash-only environments. The relief bill, known as the HEROES Act, also includes language preventing applicants for Small Business Administration loans from being disqualified based solely on a criminal conviction.

The full relief legislation is available here, with banking language starting on page 1066.

The HEROES Act will now be taken up by the rest of the House before a floor vote. If passed, it will go to the Senate for consideration.

“On behalf of the legal cannabis industry, we commend the congressional leadership for prioritizing public health and safety by including sensible cannabis banking policy in this legislation,” said Aaron Smith, executive director of the National Cannabis Industry Association (NCIA). “Our industry employs hundreds of thousands of Americans and has been deemed ‘essential’ in most states. It’s critically important that essential cannabis workers are not exposed to unnecessary health risks due to outdated federal banking regulations.”

Last week, NCIA joined other cannabis advocacy and industry organizations in urging Congress to include the SAFE Banking Act in the next round of relief funding, citing the ability of cash to carry contagions and the personal proximity required by cash transactions as reasons for urgency in addition to the other safety and transparency concerns addressed by the legislation.

In September, an overwhelming bipartisan majority approved the SAFE Banking Act in the House, but the bill has been delayed pending a markup in the Senate Banking Committee.

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The National Cannabis Industry Association (NCIA) is the largest cannabis trade association in the U.S. and the only organization broadly representing cannabis-related businesses at the national level. NCIA promotes the growth of a responsible and legitimate cannabis industry and works toward a favorable social, economic, and legal environment for that industry in the United States.

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Albania Is Close To Legalizing Medical Cannabis

Written by Johnny Green on . Posted in Medical.

Cannabis is medicine. That is a fact that is worth repeating over and over. For proof of that fact, all people have to do is look at the growing body of studies and research backing up the claim, as well as the countless personal testimonies of suffering patients that have successfully treated their condition(s) with medical cannabis.

The cannabis plant has been used as a medicine for many centuries, and by that measure, it was only fairly recently that anyone claimed that cannabis is not medicine. Fortunately for suffering patients, more and more countries are getting on the right side of history and legalizing cannabis for medical use.

Some countries still prohibit medical cannabis, however, some of them are moving in the right direction. One of those countries is Albania, which recently announced that it is very close to unveiling a draft proposal that would legalize medical cannabis. Per Exit News:

Albanian Prime Minister Edi Rama announced today that the government is preparing a draft law that would legalize the cultivation of marijuana for medicinal purposes.

During a joint conference with EU ambassador Luigi Soreca, Rama said that the government has been working with foreign and local advisers for a year and the draft law would be made public soon. He also highlighted the importance of learning from other countries’ experiences with medical marijuana.

For what it’s worth, Albania will be able to take the best components of other countries’ medical policies and incorporate them into their own law. It obviously would have been better if Albania legalized medical cannabis years ago, or even better, never prohibited medical cannabis in the first place.

However, it is better to look forward than to dwell on the past for the purpose of this policy change, and hopefully Albania’s medical cannabis model helps as many suffering patients as possible. It will be disheartening if Albania’s medical cannabis program proves to be too limited, with suffering patients failing to receive safe access to a proven medicine. Ultimately, only time will tell what happens.

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Advocates Call For Removal Of DEA From Cannabis Research Approval Process

Written by Johnny Green on . Posted in Science.

For many years the DEA has controlled which entities can conduct cannabis research in the United States. That has resulted in research being limited historically. More research is being conducted in the U.S. than years past, however, the situation is still far from optimal.

Considering how popular medical cannabis is in the U.S. and beyond, how many wellness properties the cannabis plant is known to possess, and how many more are yet to be discovered, it makes sense that cannabis research should be embraced rather than hindered. Unfortunately, the DEA’s involvement in the cannabis research approval process is holding things back.

Research in the United States benefits the global cannabis community, not just the U.S. Thankfully, advocates are making a big push to change the current situation. Below is a press release that was sent out today by our friends at the National Cannabis Industry Association:

WASHINGTON, D.C. – The National Cannabis Industry Association (NCIA) submitted comments this week in response to the Drug Enforcement Administration’s (DEA) Request for Information on Controls to Enhance the Cultivation of Marihuana for Research in the United States issued in March. The association argues that public health agencies are far better suited to determine the qualifications of parties engaged in medical or scientific research or production and recommends that the DEA be removed as the agency in charge of final approval for such applications. The comments also cite years-long delays in approving existing applications as additional justification for transferring control of application approval away from law enforcement, and point out several issues in the rule-making process that will likely hinder research.

The full comments are available here.

Despite publicly stating in 2016 that it was interested in expanding production of cannabis for research purposes and streamlining study application review, none of the more than 30 applications that have been submitted since then have been approved by DEA. Under current policy, there is only one legal federal supplier of cannabis located at the University of Mississippi. Researchers and experts have repeatedly claimed that the cannabis produced there is substandard, insufficient for research purposes, and not representative of what is available to consumers in either regulated or illicit markets around the country.

“It is painfully clear that the DEA is either unable or unwilling to meet the increasing demand for cannabis research from voters, policymakers, and the scientific community,” said Aaron Smith, executive director of the National Cannabis Industry Association. “By continuing to make this agency the gatekeeper for studies and research production, we are doing a disservice to the nation at a time when we need as much health-related information as possible. Federal agencies should be actively facilitating research that could reveal more about the medical benefits of cannabis, not hiding behind outdated policies to delay or discourage the pursuit of knowledge.”

In January, the House Energy and Commerce Subcommittee on Health held a hearing featuring representatives of federal agencies involved in approving cannabis research and production, including the DEA. Several members of the committee expressed frustration at the inability of witnesses to provide substantive information about how the process would be improved or timelines for approval of existing applications.

“On behalf of its nearly 2,000 members, NCIA hereby requests that these proposed regulations be amended and/or withdrawn… and that a qualified public health agency be appointed to serve as the coordinating agency instead,” the comments conclude. “We also request that the applicant pool be expanded to include companies that are or have cultivated cannabis in accordance with the laws of any state, regardless of whether the DEA concludes such actions did or did not technically violate the [Controlled Substance Act]. Most importantly, NCIA requests that the U.S. Government incentivize research and create a pathway for less restrictive means by which the country can access important information about the medicinal properties of cannabis.”

Cannabis is legal for adults in eleven states as well as the District of Columbia and the territories of CNMI and Guam, and 33 states as well as several territories have comprehensive medical cannabis laws. The substance is legal in some form in 47 states.

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The National Cannabis Industry Association (NCIA) is the largest cannabis trade association in the U.S. and the only organization broadly representing cannabis-related businesses at the national level. NCIA promotes the growth of a responsible and legitimate cannabis industry and works toward a favorable social, economic, and legal environment for that industry in the United States.

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5 Reasons Why Medical Cannabis’ Popularity Is Surging

Written by Johnny Green on . Posted in Medical.

Medical cannabis is not a new thing. As far back as 2,700 B.C. cannabis is documented as being used for medical purposes. It wasn’t until early in the 20th century that the medical benefits of cannabis were questioned, and even then, those ‘questions’ were motivated by political views and ambitions rather than by science.

In 1996 voters in California became the first in the nation to re-legalize medical cannabis, followed by many other states and countries. Between the mid-90s and 2012, the number of medical cannabis patients in legal states increased exponentially. That trend started to change in states that legalized cannabis for adult use post-2012.

Due to various factors, not the least of which is the ongoing pandemic, states are likely to see a resurgence of people signing up to become licensed medical cannabis patients and/or caregivers. Below are five reasons why patients would benefit from becoming a registered patient.

1. Easier Than Ever To See A Doctor

Thanks to technology, and current rules governing many state medical cannabis programs, patients can participate in a telemed exam from the comfort of their own homes. Instead of having to travel to a physical office to see a doctor that specializes in medical cannabis, now patients can see a doctor virtually. All it takes is a sufficient internet connection and common computer hardware.

2. Save Money Via Lower Dispensary Prices

A major benefit for people becoming a registered medical cannabis patient is to save money. In some states, cannabis products that are purchased by medical cannabis patients are exempt from the state’s cannabis tax. In addition to tax-related savings, most reputable cannabis dispensaries in adult-use states offer lower prices to patients. For patients that make purchases often, the savings can add up quickly.

3. Increased Cultivation Limits

In some states, becoming a patient allows people to cultivate more legal plants. For example, in Oregon, any residence with an adult living there can cultivate up to 4 mature cannabis plants for adult-use purposes. A registered medical cannabis patient can also cultivate an additional 6 mature plants, for a total of 10 plants. With the ongoing pandemic limiting many people’s ability to travel frequently, the additional harvest allows people to produce more cannabis at home and lowers the need to travel to a dispensary.

4. Increased Possession Limits

Even if someone doesn’t want to cultivate their own cannabis, they can still benefit from being a registered medical cannabis patient from an increased limit standpoint via increased possession limits in some states. Just as people need to stock up on various other essential items these days, so too do they need to be able to possess more cannabis. Using Oregon as an example, medical cannabis patients can possess up to 24 ounces, in addition to adult-use possession limits.

5. Increased Product Potency Limits

Some adult-use states have different potency limits for medical cannabis edible products. Using Oregon as an example again, for some people, the current adult-use THC milligram limit in Oregon for cannabis edibles is sufficient. However, for many people suffering from one or more debilitating health conditions, the current 50 mg per edible limit is not enough. The THC content limit for medical cannabis products is twice as much compared to adult-use products, which helps patients save money, in addition to providing a stronger dosage that many patients need to treat their condition(s).

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Is There A Medical Cannabis Price War Brewing In Germany?

Written by Marguerite Arnold on . Posted in Medical.

Germany is undisputedly the market leader in Europe when it comes to sales and overall numbers of cannabis consumers. However, prices have remained high here for a number of reasons. That is now coming to an end.

Pharmacies Have Been Forced To Lower Their Markups
Until the beginning of March 2020, German pharmacies were allowed to mark-up cannabis from distributors by 100%. This has now been renegotiated between the German Pharmacy Association and the German Association of Public Health Insurers. Until now, pharmacies have been unconcerned with price. Now, with markups lower, they will have to change their procedures.

More Competition Among Distributors
There are currently 50 distributors who are authorized to distribute medical cannabis in Germany. That is up from 17 last year. At the same time, the amount of cannabis entering the country has remained relatively stable over the last year. In addition to flower, there is now another competitor for the dronabinol (synthetic) market. Price competition between distributors is about to heat up. They have sold floss product to pharmacies for upwards of $10 a gram for about the last year. Before that, prices were even higher. 

Price Wars Between Producers
Producers have sold into the German market at prices that have steadily dropped. Until the beginning of 2019, there were reports of Canadian LPs selling floss at CA $13 dollars a gram. As of now, with price impacts felt just about everywhere in the chain, the standard price per gram is still about 5 euro a gram. Expect that too, to drop as German domestic production comes online (set by the government at 3.20 euros a gram). On the dronabinol side of the market, this too is expected to drop with a new competitor now aiming for the German market, to compete with Canopy Cannabis, who bought the domestic German producer at about the time that the German cultivation bid was decided in the first half of 2019.

Direct Impact On Patients
While the “average” German patient who obtains cannabis by prescription and has been approved by their public health insurer, the vast majority of cannabis patients are still stuck in a very difficult place. Obtaining pre-approval for coverage is a long and drawn-out process. With that approval, publically insured patients pay only $12 for their prescriptions. Without it, they are forced to pay more than $20 per gram. Private patients, who may represent as much as a quarter of the market (but nobody is sure) also have to pay out of pocket. And nobody is quite sure how many cannabis patients there actually are.

Domestic Production Is Coming
The biggest existential threat to all importers right now is German domestic cultivation. That is expected to become available starting at the end of 2020. 

Bottom line? There are big shakeups coming, and in every direction.

For an up-to-date analysis of the German market, be sure to book your tickets for the International Cannabis Business Conference when it returns to Berlin.