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Technology Will Revolutionize Colombia’s Cannabis Industry

Written by Johnny Green on . Posted in Business.

Colombia’s cannabis industry is expanding at a slow but steady pace. Colombia has served as an unregulated source for cannabis for many decades and is in the process of transitioning to a legal cannabis industry.

The South American nation is home to a climate that is ideal for cannabis cultivation. The nation’s ideal climate combined with cheap labor puts Colombia in a prime position to become a major international supplier of cannabis.

Despite Colombia’s natural advantages, its cannabis industry will never reach its full potential without the help of cannabis industry technology. Read about some examples of technologies that can be harnessed by Colombia’s emerging cannabis industry to help boost the nation’s chances of becoming a top cannabis exporter in our recent article on Cannabis & Tech Today.

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NASCAR Continues To Prohibit CBD Company Sponsorships

Written by Johnny Green on . Posted in Business.

Cannabidiol (CBD) is at the heart of one of the fastest-growing industries on earth. CBD is being infused into just about anything and everything that people can think of for better or worse. Regardless of how viable some of the products are, it’s safe to say that CBD, in general, is here to stay.

Hemp-derived CBD and the products that are based on it are legal across the United States thanks to reform provisions that were included in the 2018 Farm Bill which was signed into law. Some rulemaking is still in progress, however, CBD is a legal, mainstream industry regardless.

Unfortunately, stigma is still prevalent in society and the business world when it comes to CBD despite the recently enacted reforms. One example of that is a recent announcement by NASCAR that it will continue to prohibit sponsorships by CBD companies. Per Sports Business Daily:

NASCAR is taking a pass on CBD products.   The sanctioning body has decided against allowing sponsorships to be sold to CBD companies, according to sources, stopping brands in the emerging category from advertising in the sport.

Hemp is considered to be a legal agricultural product now, just like corn, albeit with more stringent regulations. So why is NASCAR treating it like a harmful substance?

Why does NASCAR prohibit sponsorships by CBD companies while at the same time allow sponsorships by beer companies, despite the fact that cannabis has been found to be 114 times safer than alcohol?

NASCAR’s policies are clearly based on outdated political opinions and not on science, compassion, and logic. NASCAR and its competitors are missing out on a significant source of advertising revenue that is increasing exponentially and CBD companies are being discriminated against in a truly hypocritical fashion.

NASCAR needs to get on the right side of history and update its policies as soon as possible.

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Trimming Technology Is A Great Opportunity For Cannabis Industry Innovation

Written by Johnny Green on . Posted in Business.

One of the most important stages of the life of quality cannabis flower is the trimming stage. Many cultivators do a great job of acquiring the right cannabis genetics and caring for the plant up until harvest just to ruin the crop with poor trimming. That is especially true for large scale cultivators.

Cannabis companies that cultivate cannabis on a large scale are faced with two choices when it comes to cannabis trimming – hire a small army of trimmers to complete the task by hand, or use current machinery designed for trimming cannabis that often diminishes the quality of the end product.

Obviously, neither of those scenarios is ideal. Hiring trimmers can be expensive and the trimming process can take a lot of time. On the other hand, current trimming technology results in an inferior product in the eyes of most seasoned consumers.

That creates an opportunity for innovators to revolutionize the trimming process with new solutions. Read about it in our recent article in Cannabis & Tech Today.

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New Zealand Government Unveils Cannabis Legalization Bill

Written by Johnny Green on . Posted in Politics.

New Zealand voters will see a cannabis legalization measure on Election Day next year. The details of the measure have been highly anticipated, and New Zealand’s government unveiled some of those details today.

So far only two countries have legalized cannabis for adult use. Those countries are of course Uruguay and Canada. A number of other nations have held significant discussions regarding cannabis legalization, however, New Zealand appears poised to become the third country to legalize cannabis for adult-use.

It’s possible that another country, such as Luxembourg, could legalize cannabis for adult-use prior to Election Day in New Zealand next year, but regardless of if that happens or not, legalization will get a vote in at least one country in 2020.

Hopefully, that vote is favorable. Below is a press release that New Zealand’s government published today regarding the unveiling of the cannabis legalization measure’s details:

The first release of public information on the two referendums to be held at next year’s General Election was made today with an informative new Government website going live.

Additionally, the draft Cannabis Legalisation and Control Bill has been released, showing the strict controls on cannabis that will apply if the voters choose to legalise cannabis.

The first cross-party meeting on the Cannabis Bill will occur later this week.

“It is important that voters go into the 2020 General Election informed about the referendums. The Government is committed to a well-informed, impartial referendum process.

“By making the referendum questions and the initial draft Cannabis Legalisation and Control Bill available early the intention is to encourage public awareness and discussion. It is important that the public feel they can meaningfully participate in the referendum process.

“I have invited representatives from each party represented in Parliament to meet with me this Thursday to provide their feedback on the draft Bill”

“My aim is to have the final draft Bill available by early next year, so there is time to argue for change,” says Justice Minister Andrew Little.

The wording of the cannabis referendum question has also been confirmed as a straight Yes/No question:

Do you support the proposed Cannabis Legalisation and Control Bill?

Yes, I support the proposed Cannabis Legalisation and Control Bill

No, I do not support the proposed Cannabis Legalisation and Control Bill

The wording of the end of life choice referendum, previously announced, is also a straight Yes/No question:

Do you support the End of Life Choice Act 2017 coming into force?

Yes, I support the End of Life Choice Act 2017 coming into force
No, I do not support the End of Life Choice Act 2017 coming into force

The website, www.referendum.govt.nz provides information on the draft Cannabis Legalisation and Control Bill and the End of Life Choice Act.

The website sets out key features of the draft law for the Cannabis Legalisation and Control Bill.

“The primary objective of the legislation is to reduce overall cannabis use and limit the ability of young people to access cannabis,” Andrew Little said

Key restrictions on cannabis included in the draft Bill include:

  • A minimum purchase and used age of 20;
  • Ban on all marketing and advertising of cannabis products;
  • Requires harm minimisation messaging in the retailing of cannabis;
  • Prohibits consumption in public places and limits use to private homes and specifically licence premises;
  • Limits sale of cannabis to specifically licenced physical stores (not online or remote sales);
  • Strict controls and regulations on the potency of cannabis;
  • Establishes a state licencing regime that all stages of the growing and supply chain are licenced and controlled by the Government, and will limit the amount of cannabis that is allowed to be grown.

In order for the 2020 cannabis referendum to be effective, the public need to know what will happen afterwards. A ‘No’ vote would mean continuation of the status quo. In the event of a ‘Yes’ vote, the parties making up the Government have committed to honouring voters’ choice at the referendum.

The new website also provides information on the End of Life Choice Act, which is also the subject of a referendum at the next Election.

As the legislation has already been through the House, a 50 per cent majority voting “Yes” at the Election will mean that the Act will come into force twelve months after the result is known.

Further information on each of the referendums, including downloadable fact sheets translated into multiple languages, will be added to the website next year.

Explanatory material on both referendums, will also be included in the Electoral Commission’s enrolment update and EasyVote card mailouts to voters in the lead-up to next year’s election.

“Experience from overseas tells us that provision of factual, explanatory information is vital for the public to be informed and for an outcome that can be accepted by voters even if the result is not what they voted for,” Andrew Little says.

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Colombia Enters Cannabis Oil Production

Written by Marguerite Arnold on . Posted in Business.

Colombia has been on the map, certainly when looking at the cannabinoid world from Europe, for the last two to three years. Judging by the number of participants who show up at International Cannabis Business Conferences, at least from this part of the world, this is also not a casual discussion.

As of November, the game has clearly changed. For all of the talk about production in the country, up until now, all the licensed grows were for plants with less than 1% THC.

This has now changed. The country has issued its first license for the commercialization of “psychoactive” cannabis, in other words containing higher levels of THC. The recipient of the same, Khiron Life Sciences Corp. also announced that it would use the license to produce high THC extract to treat 15,000 patients via the Latin American Institute of Neurology and the Nervous System (or ILANS).

Beyond domestic distribution, what does this development bode for international markets?

While Germany is clearly on the minds of Khiron, a shrewd international operator with operations that already reach to the UK and Germany (including helping to supply cannabis for the British Project2021 project) this opens up other discussions a little closer to home in the same hemisphere. Namely, how long will it be before such companies also begin to look to both the Canadian and US markets?

Khiron, in particular, also has plans to supply Uruguay with whole-plant export, which is an ambitious move considering the country is the only one in Latin America and still one of less than a handful globally to legalize recreational use.

Nevertheless, it is this play alone which signifies that Khiron, along with others that clearly establish themselves in such geography, is looking at markets with high need and cost sensitivity.

How cost-effective cannabis oil from Colombia is in the European hemisphere as more local production begins to ramp up is another matter. See Greece, Portugal, and of course North Macedonia in the short term.

This question is still in the room of course, along with the acceptance of medical GMP standards for anything coming out of the American hemisphere in general, particularly in the aftermath of CannTrust.

Regardless, it is clear that as another early mover Canadian decides to revamp and retool, including putting both European and Canadian plans to expand on indefinite hold that Latin America will play an increasingly bigger role in the global cannabis market.

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Setting The Price For Medical Cannabis In Europe?

Written by Marguerite Arnold on . Posted in Business.

The German government has just announced that it will buy at least 650 kilograms (1,433 pounds) of GMP certified, medical cannabis flower from “domestic producers” who won the tender lots. This means, in other words, that of the three Canadian companies who won the bid (Aurora, Aphria and Wayland/ICC/Demecan), the only domestic production that currently takes place is via the ICC facility in Eastern Germany.

This means that at least the short term winner, certainly on the price front, is ICC and Demecan.

Why?

It is the only one of the three that has certified production facilities in place. The other two producers, Aphria and Aurora, must import from somewhere else. 

However, this announcement makes things even more strategically interesting, as Aurora announced a much lower price to the Italian government – canceled bid nonetheless (that was for medical-grade CBD).

That alone undermines the price now set out by the German government – of €2.30 euros a gram wholesale – as the one to beat in Europe.

This also means that enterprising producers elsewhere now have a reference price to beat (and many of them can). Even with the price of transportation, this price is a calling card for those of Portuguese, Spanish, Greek and Polish extraction who have either entered or about to enter the game.

It also puts the decision to delay the export of North Macedonian flower in an even more interesting new light. No matter when the country decides to export, it has a world of opportunities on its immediate, European, if not German, doorstep.

With this number on the table, enterprising distributors now also have not only benchmarks for the first time, but an insight into the market that so far has only been acquired before by personal interviews of insiders on the ground.

Bottom line? The market is opening for low cost, imported flowers, and oil that can beat that price.

Combined with a reduction in the required mark-up imposed by German pharmacies this means that the retail cost of cannabis in Germany is in line for another fairly dramatic correction at point of sale, and while it may not quite yet beat the unregulated market, this means that cannabis priced certainly under €15 a gram will be available soon.

It also means that the high cost put on bringing in a new premium-priced product is finally beginning to normalize (although expect to see additional drops in price as rules continue to change around Europe). If nothing else, both Italian and Polish crops will further undermine the German reference price, to say nothing of the winds now blowing if not growing in Portugal, Spain, Greece, and other lower labour climes throughout Europe.

However, no matter the ultimate winners in the market from the business side, it also means that patients are beginning to have alternatives to either out-of-sight priced product only affordable with insurance coverage or the black market.

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What Percentage Of Investors Have Purchased Cannabis Stocks?

Written by Johnny Green on . Posted in Business.

The cannabis industry is booming, and investors are taking notice. The legal cannabis industry is already worth billions of dollars, and the rate of growth is astounding. With so many U.S. states and countries around the globe reforming their cannabis laws, there’s no end in sight to the exponential growth of the cannabis industry.

For some investors, cannabis stocks provide a great opportunity to dip their toes into the industry without having to take a deep dive via a massive investment. Launching a cannabis cultivation facility is expensive. So is launching a cannabis dispensary.

Cannabis stocks are far cheaper compared to those options and compared to funding many other ancillary cannabis business ideas. For many years investors refused to give serious consideration to the cannabis industry due to stigma and lack of legal/viable options.

However, that has changed, as evidenced in the results of a recent investor survey commissioned by GOBankingRates which was featured by Yahoo Finance. Below are some of the key findings from the survey:

  • 49% of survey participants stated that they have already purchased cannabis stocks or plan to
  • Roughly one-third of survey respondents said they would start investing in cannabis if it were legalized
  • Among survey participants who were open to investing in cannabis stocks, 27% said that they plan to invest $1,000 or more

It will be very interesting to see where investor attitudes are as time goes on and more cannabis stock options become available. For investors that are open to investing in the cannabis industry yet have refrained from doing so thus far, presumably, some of them are just waiting for what they deem to be viable options.

Current cannabis stock options largely revolve around Canada’s cannabis industry and the Canadian Stock Exchange due to limitations in the United States. When things open up in the United States, it’s logical to assume that investor interest will spike.

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Legal Recreational Cannabis Sales Begin In Michigan

Written by Johnny Green on . Posted in Business.

It was a historic day in Michigan on Sunday, where legal adult-use cannabis sales officially launched in select locations. Michigan has been home to an amazing cannabis community for many years and the launch of adult-use sales is a major milestone that cannabis advocates have fought for over the course of several decades.

Michigan voters approved a cannabis legalization initiative during the 2018 election. On Sunday Michigan joined a growing list of states that allow legal, regulated cannabis sales to adults 21 years old or older. The first legal purchase was made by a long-time cannabis advocate, as detailed by the Detroit Free Press:

The actual first sale happened at 9:50 a.m. to legendary cannabis activist John Sinclair, a Detroit resident who racked up three marijuana-related arrests in the 1960s and landed a 10-year prison sentence for giving an undercover cop two joints. His plight attracted the attention of John Lennon and Yoko Ono, who headlined a concert in Ann Arbor in 1971 to bring attention to Sinclair’s arrest.

Several media reports detailed long lines at the limited number of retail outlets that were authorized to conduct sales, which is a common occurrence in legal states on the first day of legal sales. As more outlets open over time, the basic principles of supply and demand should even things out.

Colorado was the first state to allow legal adult-use sales in 2014, and lines were wrapping around city blocks for multiple days. That will likely be the case in Michigan too, where consumers are presumably excited to frequent a legal dispensary rather than make their purchase via an unregulated source.

Michigan is one of the top-ten most populated states in the country, so it’s a really big domino to fall in the effort to legalize cannabis sales nationwide. The only other top-ten state as measured by population-size to allow adult-use sales is the state of California. Next month another state, Illinois, will join that list.

Congratulations to all of the cannabis advocates that worked so hard for so many years to make legal sales a reality in Michigan!

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Trinidad And Tobago Government Introduces Cannabis Reform Bills

Written by Johnny Green on . Posted in Politics.

Cannabis reform is sweeping across the globe. It wasn’t that long ago that cannabis was completely prohibited across the planet. Cannabis prohibition is still prevalent in many countries, however, some countries have either legalized cannabis for medical use and/or adult use.

The latest nation to announce plans for cannabis reform is the southern-most island nation in the Caribbean, The Republic of Trinidad and Tobago. Per Marijuana Moment:

The government of Trinidad and Tobago brought two marijuana reform bills before Parliament on Friday—one to decriminalize low-level possession and another to legalize cannabis for medical and religious purposes.

During a speech before the House of Representatives, Attorney General Faris Al-Rawi said the administration wants to reduce the prison population, curb costs associated with marijuana-related incarceration and free up law enforcement resources to pursue serious crimes.


Below is a summary of what is being proposed via the two bills:

  • Possession of up to 30 grams of cannabis would be decriminalized
  • A process for prior possession records to be cleared via a petition the court
  • Sale, use, and distribution of cannabis for medical, research and religious purposes (no adult-use market)

What the odds are of either bill passing and becoming law is unclear at this time, although it’s encouraging to see that such reforms are being proposed and seem to have at least a chance at passing.