WeedLife News Network

Because of the recent health and wellness trend, cannabis is gaining popularity for being a gluten-free, no calorie substitute for alcoholic beverages.

One of the most common stereotypes to circulate around the cannabis scene over the past several decades is that people who use marijuana are lazy, unemployed wastes of space. But according to the latest data from market research company BDS Analytics, this is not the case with the majority. In fact, it is safe to say that the average cannabis consumer — at least with respect to the modern day user in the newly legal climate — is more active and productive than anyone else in the throes of the daily grind.

Researchers at BDS found that 43% of cannabis consumers are busy with outdoors activities several times a week. This is significantly higher that non-cannabis users, according to the data. Only 25% of this group admitted to getting off their back cracks long enough to engage in activities outside the house.

Another interesting tidbit from the study is that cannabis users are more concerned about their overall health and wellness. Researchers found that around 40% regularly attend a gym or fitness center, which was about 10 points higher than non-users. This should come as no surprise. It’s like legendary stoner icon Tommy Chong once said (we’re paraphrasing, of course), “You’ve got to be in shape to do drugs, man.”

This pursuit of health and wellness is now a major trend across the United States. A recent analysis from Rabobank found that, because of this, cannabis is gaining popularity for being a gluten-free, no calorie substitute for alcoholic beverages.

Cannabis stocks are off to a hot start to the year, but can that momentum be sustained?

Thanks in large part to optimism surrounding the Georgia Senate run-off election results that will give the Democratic Party control of Congress in addition to the White House, cannabis has been one of the biggest winners of the new year, with the valuations of most pot stocks trading around record highs.

Major U.S. cannabis operators Curaleaf Holdings Inc., Trulieve Cannabis Corp., and Cresco Labs Inc. have climbed 19 per cent, 31 per cent and 26 per cent, respectively, in that time. Meanwhile, smaller players have also posted similar gains.

The U.S. Department of Agriculture (USDA) today announced the final rule regulating the production of hemp in the United States. The final rule incorporates modifications to regulations established under the interim final rule (IFR) published in October 2019. The modifications are based on public comments following the publication of the IFR and lessons learned during the 2020 growing season. The final rule is available for viewing in the Federal Register and will be effective on March 22, 2021.

“With the publication of this final rule, USDA brings to a close a full and transparent rule-making process that started with a hemp listening session in March 2019,” said USDA Marketing and Regulatory Programs Under Secretary Greg Ibach. “USDA staff have taken the information you have provided through three comment periods and from your experiences over a growing season to develop regulations that meet Congressional intent while providing a fair, consistent, science-based process for states, tribes, and individual producers. USDA staff will continue to conduct education and outreach to help industry achieve compliance with the requirements.”

Shawn Hauser, partner and chair of the Hemp and Cannabinoids Department at Vicente Sederberg LLP said, “The transition from prohibition to a legal and regulated system takes time, and USDA’s final rule is a historic step forward for hemp in the U.S.  Many are justifiably disappointed by the DEA’s continued (and in some ways expanded) role in the agricultural hemp program, but there were also a number of positive improvements. The expanded harvest window, alternative disposal/remediation authorizations, and increase of the standard of negligence to 1% will be critical to building a successful hemp industry, and they indicate the USDA gave meaningful consideration to stakeholder’s comments. We are undoubtedly making progress, and we will continue to work with regulators and through Congress to perfect the regulatory structure for hemp.”

Key provisions of the final rule include licensing requirements; recordkeeping requirements for maintaining information about the land where hemp is produced; procedures for testing the THC concentration levels for hemp; procedures for disposing of non-compliant plants; compliance provisions; and procedures for handling violations.

Now is an excellent time to be in the infused products game. In the next four years, experts predict that legal retail sales of THC-infused products alone will surpass $21.5 billion. CBD is becoming more mainstream every day, and quality infused products are pulling in A-list investors. 

Still, creating a successful infused product is very much a science —it does not happen by accident. Diligence, forethought, and adaptivity are the names of the game for any entrepreneur hoping to share in the industry’s growth and success. Before you cash out your savings, make sure your business plan answers these three essential questions. 

The latest report from the Canadian Centre for Policy Alternatives (CCPA), titled The Golden Cushion, lists Canada’s top-paid CEOs in 2019. On average, the top-100 CEOs made 202 times what the average Canadian worker earned.

Big Gains For Cannabis Stocks

Blue Dream, Purple Haze, Girl Scout Cookies, Red Headed Stranger, Acapulco Gold, Fruity Pebbles or Pineapple Express… all classic strain names and all of them meaningless.

“Strain names are absolutely misleading with considerable variation in the same cannabinoid content among different specimens of the same strain. You can get the same color and the same smell, but actually levels of the THC and CBD and some of the other compounds could be quite different,” says Robin Marles, Ph.D., chair of the U.S. Pharmacopeia (USP) Botanical Dietary Supplements and Herbal Medicines Expert Committee.

USP has assembled an expert panel of clinicians, scientists and industry representatives from around the world to provide necessary information and guidance on critical quality attributes, including recommendations for naming , all laid out in an article in the Journal of Natural Products, Cannabis Inflorescence for Medical Purposes: USP Considerations for Quality Attributes.

“USP recommendations are entirely focused on the inflorescence of the cannabis plant, popularly known as the flower or ‘the bud.’ And as with any plant product, the first challenge was to determine how to classify the various varieties and subtypes that are currently in use.” said Ikhlas Khan, Ph.D., USP’s Cannabis Expert Panel chair.

USP has elected to recognize cannabis as a single plant species, Cannabis sativa L., with different varieties or subtypes that can then be classified based on their THC and CBD content. The expert panel provided guidance for organizing the plant material into three “chemotype” categories: THC-dominant, CBD-dominant, or intermediate varieties that contain physiologically meaningful levels of both – intending to give prescribers or consumers greater clarity about what substances they are using.

Maine is currently the only state in the country to kick off recreational marijuana sales during the pandemic.

According to the Maine Office of Marijuana Policy, even with nearly 45 active licenses given to growers, manufacturers, testing sites and retail stores across the state, the demand has been too high for the supply chain to keep up.

But officials expect that to change and they predict more sales in the future.

John Lorenz, the owner of Sweet Relief, agrees.

“There's Downeast travel again. If 3 million people head to Acadia again every year for lodging and restaurants and food, they will pass my location,” said Lorenz.

The year 2,020 has already ended and Costa Ricans continue to wait for strong answers, due to the pending approval of the bill to legalize the production of Cannabis and Hemp in the country.

These have been difficult days with the COVID-19 Pandemic around the world, where all sectors, mainly the agroproductive, have been affected. The adaptation process has been fundamental, in the case of Costa Rica, the institutions linked to this area have strengthened ties with strategic allies to prevent agricultural production from stopping.

Research has been carried out in favor of the innovation of cutting-edge technologies for agricultural production, this is where the Minister of Agriculture and Livestock (MAG), Renato Alvarado, emphasizes the valuations of different materials of industrial cannabis, with regards to the perspective for the legalization of the crop in the country.

Take into account that the Environment Commission of the Legislative Assembly of Costa Rica (CR), in the course of the year 2020, approved the substitute text of the legislative project “Law of Cannabis for medicinal and therapeutic use and of Hemp for food and industrial purposes”.

All the changes were oriented towards the simplification of procedures, the requirements, and formalities for home cultivation for some patients, the granting of incentives to the activity, the definition of requirements for obtaining licenses, as well as a special tax for said activity. Therefore, bill number 21,388 establishes that -the domestic cultivation of Cannabis plants- is regulated.

Marijuana sales in Colorado in November pushed the industry’s annual revenue over $2 billion for the first time since cannabis was legalized for recreational use by a 2012 ballot measure.

Recreational and medical sales for marijuana accounted for about $175 million of revenue in November, according to data released Tuesday by the state Department of Revenue.

While the month’s revenue was down about 12% compared to October, the numbers were sufficient to help the state surpass the $2 billion annual revenue threshold, The Denver Post reported.

The state collected about $32 million in taxes and fees from marijuana sales in November.

The 2020 uptick in marijuana revenue coincides with political momentum that saw voters in South Dakota, Mississippi, New Jersey, Arizona and Montana legalize some form of use in the November election.

Are Cannabis Stocks Good For Long-Term Investing?

Adults in Virginia will be able to legally purchase marijuana for recreational use in two years, under a proposal unveiled Wednesday by the governor of the commonwealth.

Under the proposal offered up by Virginia Gov. Ralph Northam, according to local television station WRIC, adults aged 21 years and older would be able to purchase pot as of January 1, 2023. 

Citing a spokesperson for the governor, the station reported that sales of recreational pot would not begin until that day, but implementation “would have a quick timeline of roughly 20 to 22 months after the bill is passed.”

Moreover, WRIC reported that the governor’s proposal “would put limits on possession, no more than an ounce of “marijuana plant material,” and on the concentration of businesses.”

Northam is expected to elaborate further on the proposal during his State of the State address on Wednesday in that capital city of Richmond.

A significant marijuana growing operation was found in Belchertown this week where police officers found hundreds of marijuana plants that violated the legal limit for growing marijuana at home. 

The Belchertown Fire Department received a call of a possible house fire and when they arrived at the home on West Street they noticed a significant growing operation allegedly run by two men from out of state. 

In Massachusetts, marijuana can be legally smoked and possessed but when it comes to growing the plant, there’s a legal limit. A limit that was well surpassed when Belchertown police and fire discovered a growing operation of more than 800 marijuana plants inside a Belchertown home on Monday night. 

It is allowed to have six plants per person with a max of 12 in a household, so if there are two people living in a house they can have 12 plants but if you go above that it’s illegal.

Police arrested two men who were involved in the operation, both men are from Brooklyn, New York. In addition to the plants, police seized $2,500 in cash and a significant amount of growing equipment that covered the whole house. 

The state of Mississippi is set to roll out its medical marijuana program this summer.

The Mississippi State Department of Health, which is in charge of regulating the program, is currently building rules and a framework for the program. Those are scheduled to be released sometime in July, WJTV reported.

On August 15, licenses will be distributed and then the program will officially start.

Ken Newburger with the Mississippi Medical Marijuana Association told the news agency it was a smart move getting the health department to regulate the program.

“Because it’s a medical program and everything about it needs to be handled from a health medicine perspective, the State Department of Health was the best choice,” he said. “Most other states that have good, functioning medical marijuana programs chose the State Department of Health as their regulatory body. So that’s really why we felt like it was the right place.”

Oregon recreational cannabis sales soared in 2020, peaking during a challenging summer of racial justice protests and coronavirus lockdowns.

The Oregonian/OregonLive reports the result was a record year of business for the state’s marijuana purveyors, based on data from the Oregon Liquor Control Commission, which oversees marijuana sales.

Total marijuana sales in Oregon jumped from $795 million in 2019 to more than $1 billion, for the year that just ended.

State tax revenue from marijuana sales in 2020 likely will exceed $150 million. Much of that will go toward substance-abuse screening and programs to address addiction.

Read more at: https://apnews.com/article/business-coronavirus-pandemic-oregon-marijuana-b08fe949276ae844d4e5181f31affbc7

Lawmakers can’t agree on tax revenue, how it should be allotted, or how to set up an industry that creates a level playing field for all.

New York Governor Andrew Cuomo has promised again that marijuana legalization is coming. However, because of how the legislative grind works in the real world, he might have to storm the state capitol to get it done.

There’s still a wealth of challenges ahead before New York agrees on how legal marijuana should look. And while it might be a bit of a stretch to suggest that Cuomo will have to launch a reign of terror to shake some sense into lawmakers who continue to sabotage progress, there’s no doubt that he will need to get creative to see it through.

Governor Cuomo used his annual state of the state address earlier this week to double down on his dedication to creating a taxed and regulated cannabis market. He’s confident that 2021 will be the year that it goes all the way. “We will legalize adult-use recreational cannabis, joining 15 other states who’ve already done so,” he said. “This will raise revenue and will end the over-criminalization of this product that has left so many communities of color over-policed and over-incarcerated.” 

It was just three years ago that Cuomo believed marijuana was a “gateway drug.” He was also very dismissive about any efforts to legitimize the plant. But after a study commissioned by his own administration found that ending prohibition could generate hundreds of millions of dollars and promote a new level of social justice, he bought in.

A California cannabis industry executive is calling on President Donald Trump to use his executive power in the waning days of his presidency by issuing a pardon to a nonviolent cannabis offender. Kyle Kazan, the CEO of vertically-integrated cannabis company Glass House Group, issued the plea for clemency for Parker Coleman, Jr. in an open letter to the president.

“While there are many thousands of people whose lives are wasting away in federal prison hoping for a miracle, I would like to bring one such person to your attention who is deserving of another courageous act, Parker Coleman,” Kazan wrote to Trump. “Mr. President, you have the power to end injustice through the stroke of your pen.”

Coleman has been in custody since 2010, when he was arrested by federal authorities in North Carolina and charged with marijuana trafficking and money laundering. Upon conviction, he was sentenced to 30 years in federal prison in 2013. An additional 30 years was added to the sentence because two firearms were discovered in the vehicle he was in during the arrest of Coleman, who had prior felony convictions. He is currently serving his sentence at a federal prison in Beaumont, Texas.

Pot CEO Appeals To The President

In a virtual interview with High Times, Kazan said that clemency for Coleman is appropriate in light of the nation’s evolving attitudes toward cannabis.

“As the American public strongly supports legalizing, decriminalizing, and expunging marijuana convictions (one of the very few things that the U.S. populace is in significant agreement with), it boggles the mind that Mr. Coleman is serving a 60-year sentence,” he wrote.

The U.S. Food and Drug Administration is still inching its way towards developing consumer protection standards relating to CBD.

Back in 2019, it appears it came as a shock to many Americans federal standards for cannabidiol (CBD) hadn’t been developed. The FDA has repeatedly stated this has been due to gaps in its knowledge and it’s a situation that continues today.

But the agency hasn’t quite been sitting on its hands as some might suggest – for example, last year it revealed some interesting results from testing of 147 CBD and hemp products it purchased.

Last week, the FDA provided an update on its efforts to “CBD” (Collect Better Data) on the use of cannabidiol and its safety profile.

While the FDA says it has appreciated input from various parties in helping develop better data on the use and safety of products containing CBD, these efforts are “generally not adequate” – citing observational studies that are too small or using poor techniques for ensuring data quality. But in the months to come, the FDA intends developing and refining plans for research projects to address the gaps in current CBD data research capabilities.