CCMA Political greenBrief
Monday, September 24, 2018
Those Who Were Affected Most By The Drug War, Such As Brandon Brown, left, and Rodney Hampton, Continue To Wait For Cultivation Licenses To Get Signed
“When I first started, it was very hard to get funding or attention for researching CBD. We can’t make progress on understanding the benefits of CBD without funding and support. The more demand there is for CBD, the more I think we’ll see large-scale studies.”DEA Researcher Yasmin Hurd On CBD Research
“There’s a clear global growth opportunity when it comes to medical cannabis. With Canada, we’re about to see 100 percent growth: one country, Uruguay, to two countries, Canada. What intrigues me is country three, four, five, and six. I think you’ll see the third country within 12 months of October, and that’s where the real opportunity is. It’s not about Canada, it’s about all the countries that follow.”Tilray Chief Executive Brendan Kennedy On The Worldwide Expansion Of Legal Cannabis Markets
Those Impacted By The War On Drugs Still Wait For Cannabis Permits In SF (CA – Equity Program)
SF Examiner (September 24, 2018) When Rodney Hampton Jr. was 19 and living in Bayview-Hunters Point public housing, he was arrested by police on an undercover sting operation for selling marijuana on the block. He spent 22 hours in jail at 850 Bryant. Hampton, 46, said he was selling the drug to support his sons, the first of whom he fathered at age 16. Following his arrest, he connected with Omega Boys Club founder Joe Marshall, the former police commissioner, who helped Hampton enroll in a college in Alabama. He returned to the Bayview and worked for the Young Community Developers nonprofit, helping residents in the community find employment. Now, Hampton wants to open up a cannabis retail business with an on-site consumption room in a current art gallery at 4526 Third St. in the Bayview. The effort has been two years in the making and everything is ready.
Pineapple Express Announces Strategic Partnership With Legally Permitted California Cannabis Delivery Service (CA – Cannabusiness)
Nasdaq (September 21, 2018) Pineapple Express Inc. a publicly traded company that offers consulting, technology, investments, turn-key property rentals and branding concepts to businesses in the legal cannabis industry, today announced a strategic alliance with a legally permitted cannabis delivery company in California. Under the deal, the Company will earn royalties from licensing its corporate website and its Pineapple Express and THC trademarks. The delivery company will also outfit its fleet of transport vehicles with Pineapple Express’ patented “Top-Shelf” cannabis storage technology.
Judge: California Child Can Take Cannabis Drug To School (CA – Medicinal Cannabis)
Fresno Bee (September 22, 2018) A California kindergartner can keep bringing a cannabis-based drug used for emergency treatment of a rare form of epilepsy to her public school, a judge ruled Friday. The Santa Rosa Press-Democrat reported that a judge sided with the family of 5-year-old Brooke Adams. The Rincon Valley Union School District in Santa Rosa sought to ban the ointment from school grounds because it contains the active ingredient in marijuana. Authorities argued that allowing Brooke to use the drug at school violated state and federal laws barring medical marijuana on school grounds.
Trump Administration OKs Deal To Import Pot From Canada (USA – Cannabis Trade)
The Rolling Stone (September 21, 2018) In the midst of a trade war that’s ensnared our northern neighbor, the Trump administration has granted a Canadian company the ability to do something American marijuana growers are forbidden from doing: Provide marijuana for American researchers to test with the government’s approval. The move has domestic marijuana advocates and growers up in arms, but it’s also riled and perplexed a bipartisan group of lawmakers on Capitol Hill who either view the Trump administration’s move as hypocritical or unpatriotic — or both. “It’s just ridiculous,” Rep. Chellie Pingree (D-ME) tells Rolling Stone. “I think they’ve got this huge mental block about doing anything that’s good policy around marijuana.”
As Coca-Cola Considers Cannabis Drinks, Hopes For CBD Still Higher Than The Science (USA – CBD Industry)
NBC News (September 23, 2018) For Coca-Cola, the world’s largest soda company, to consider developing a cannabis-infused beverage shows how much excitement there is over the potential health benefits of cannabidiol, or CBD. However, all the buzz over CBD, a compound taken from marijuana that does not get the user high, is not yet backed up by research. On Monday, a report by BNN Bloomberg, a Canadian news service, claimed that Coke and Aurora Cannabis, a Canadian cannabis producer, were in “serious talks” to develop such beverages, a development attributed to unidentified sources.
Timeline For Marijuana Legalization In The United States: How The Dominoes Are Falling (USA – Federal Legalization)
The Motley Fool (September 23, 2018) Going green has taken on a new meaning in the United States. Less than two decades ago, marijuana was illegal in all 50 U.S. states. With Oklahoma passing a ballot initiative in June 2018 to legalize medical marijuana, 30 U.S. states now have broad legislation in place that allows of the use of marijuana. Think of the states as dominoes lined up one by one. When the first domino topples, it leads to a chain reaction that causes most, if not all, of the others to fall. That’s what has happened, and continues to happen, with state legalization of marijuana. The timeline for marijuana legalization in the U.S. shows how those dominoes keep falling.
It’s High Times For Soaring Marijuana Stocks On Wall Street (USA – Cannabis Investments)
The Denver Channel (September 21, 2018) Reefer Madness has gripped Wall Street. Investors are craving marijuana stocks as Canada prepares to legalize pot next month, leading to giant gains for Canada-based companies listed on U.S. exchanges. Some experts are concerned that the ending will be a buzzkill. Billions of dollars have poured into the stocks in the last few months, and investors smell green (money, not leaves) in the air as they consider the opportunities these companies might have as the marijuana market in Canada grows, along with the possibility that the U.S. and other countries could follow suit. The value of one company, British Columbia-based Tilray, has jumped tenfold since its initial public offering just two months ago. The company had $20 million in sales in 2017, but it’s now worth considerably more than Macy’s or Hasbro. With those huge gains have come extreme swings.
Cannabis Stock Highs And Lows: 4 Warnings For Investors About Buying Into A New Market Bubble (USA – Cannabis Investments)
CNBC (September 24, 2018) One drawback of smoking weed is forgetfulness. Why else would investors, who just got badly burned by the cryptocurrency boom, be so willing to invest in pot stocks that are rising so fast? It is unusual to see multiple bubbles in offbeat asset classes so close to each other. But this is exactly what happens when you mix an overabundance of enthusiasm with a shortage of investable assets in a new and exciting industry. Back in the late 1990s, all a company had to do to drive its stock price higher was announce a new internet strategy and add “.com” to its name. Both underfunded, old-line companies and IPOs that either went public way too early in their development or had no business being in existence at all had eye-popping stock prices.
2 Very Early Stage Marijuana Investment Opportunities To Closely Monitor (USA – Cannabis Investments)
The Motley Fool (September 22, 2018) In case you haven’t noticed, the marijuana industry is really turning heads — and with good reason. In 25 days, our neighbor to the north will be legalizing adult-use marijuana. The passage of the Cannabis Act in June puts Canada on track to become the first industrialized country to OK the sale of recreational marijuana, and in the process generate billions of dollars in added annual revenue. As you can imagine, legalizing recreational marijuana is expected to generate big profits for companies that are directly involved in the cannabis supply chain. Growers, processors, distributors, and retailers are expected to see a huge uptick in demand and sales in the weeks and months to come.
Jobs In Legal Cannabis Are On The Rise And Salaries Are Getting High (USA – Cannabusiness)
Forbes (September 24, 2018) Cannabis jobs are on the rise and salaries are increasing, according to a new report by the California-based employment agency Vangst. Those figures are set to grow further as capital continues to flow into the industry and the work force gains experience. Vangst, founded in 2015, has connected about 7,500 job seekers with the emerging legal weed industry. Recently the company surveyed 1200 cannabis companies, to find out who they’re hiring and how much they are paying. Vangst added information it has collected in its day-to-day operations to those survey results to put together a cannabis salary guide. Vangst CEO Karson Humiston, said the industry is rapidly outpacing other US job area growth. “Growth of the marijuana industry has been extraordinary in every sense,” said Jon Fanburg, an attorney at the New Jersey law firm Brach Eichler.
Canadian Cannabis Firm Tilray Sees Stock Price Tumble Days After DEA Deal Spurred Stock Surge (Canada – Cannabis Investments)
The Washington Times (September 21, 2018) Canadian marijuana company Tilray capped off a whirlwind week on Wall Street by seeing its stock price tumble 30 percent on Friday following a recent surge spurred by inking a deal with the U.S. Drug Enforcement Administration. Shares of Tilray sold for $123 on NASDAQ when markets closed for the weekend, nearly 48 hours after reaching a record high of $300 during Wednesday afternoon trading. Hardly two months since pricing its stock at $17 per share during its initial public offering, Tilray’s most tumultuous week yet on Wall Street still culminated in the company boasting a market cap of roughly $12.34 billion, shining a spotlight on Canada’s legalized cannabis industry on the heels of gaining a customer in the DEA.
Texas Rep. Pete Sessions’ War On Medical Marijuana (TX – Medicinal Cannabis)
The Daily Beast (September 24, 2018) Mark and Christy Zartlers’ 18-year-old daughter, Kara, has cerebral palsy and a severe form of autism that includes Self-Injurious Behavior (SIB). When Kara is agitated, she punches herself in the head; on multiple occasions, she’s broken bones in her face. She’s nonverbal, which makes it difficult for the Zartlers to understand what’s inciting her self-injurious behavior (professionals say there can be a wide range of instigating factors) and intervene. The family has tried dozens of medications prescribed by Kara’s doctors, as well as occupational and behavioral therapies. There’s only one substance that stops Kara’s self-injury within a matter of minutes: cannabis.