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Showing posts from July, 2019

UK Lawmakers Aim to Fully Legalize Cannabis Within 10 Years

Sometimes all that’s needed for a policymaker to change their mind on marijuana legalization is a quick trip to a place where regulation is in place and the apocalypse has not yet arrived. Such was the case when members of UK parliament (MPs) made an exploratory visit to Canada’s rapidly evolving legal marijuana industry. The British politicians came back enthused, with one of them from a political party that hasn’t even declared itself in favor of legalization saying that the UK could shake off cannabis prohibition within a year “I want the market legalised, regulated and taken away from crime gangs,” said that individual, Labour Party MP David Lammy, in a BBC Newsbeat documentary that captured the trip. “I want to see the strength of the stuff reduced, labelled and properly organised in this country.” Lammy was joined on the excursion by a number of his peers from various political parties, who all financed their own trip. Sir Norman Lamb of the Liberal Democrats (who have taken a

Masked Activists Hand Out Nearly $1000 Worth of Cannabis in Manchester

There are growing calls in the United Kingdom to legalize recreational marijuana, with parliamentary officials even suggesting that it could be done in the next five years . But some people apparently aren’t willing to wait that long. A pair of individuals, both clad in black masks, were filmed in Manchester this month doling out free cannabis to passersby. The video shows the two in Piccadilly Gardens, one of the city’s major green spaces, unfurling a sign that makes it abundantly clear what they set out to do: “FREE BUD ‘SOUVENIRS.’” The duration of the footage plays out as you would expect, with the masked individuals — donning black attire from head to toe — pulling out one marijuana bud after another to an ever-swelling group of park-goers. The two individuals reportedly passed out £800 (about $980) worth of free marijuana. Video of the stunt surfaced online Monday, but according to Lad Bible , it was shot on July 14. “One of the two pot peddlers, however, was intercepted by pol

Utah’s Top Anti-Cannabis Lawmaker is Also One of the State’s Largest Opiate Sellers

A potentially explosive report detailing the distribution of pharmaceutical opiates reveals a disturbing connection between Utah’s anti-medical cannabis movement and the pharmaceutical industry. Specifically, one of the state’s leading anti-legalization policymakers is also one of the state’s biggest seller of opiates. The revelation has sparked outrage among medical marijuana patients and advocates, and has intensified ongoing tensions surrounding Utah’s controversial medical marijuana laws. New Stats About Opiates Made Public Recently, the Washington Post released a trove of federal data related to the distribution of pharmaceutical opiates across the country. Specifically, the searchable database tracks who is selling opiates and how much they’re selling. The stats unveil a number of problematic trends. For starters, the database shows that the country’s pharmaceutical companies have sold 76 billion oxycodone and hydrocodone pills between 2006 and 2012. During that same time p

India – Delhi: High Court says no to public interest litigation (PIL) petition for medical cannabis

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A two-judge bench of Chief Justice D N Patel and Justice C Hari Shankar said that legalisation of cannabis for medical purposes could only be done by the Central Government, by either bringing a new enactment or amending the present law. The court, while dismissing the petition, also imposed costs of Rs 10,000 on the petitioner, to be deposited with the Delhi High Court Bar Association Library Fund. The petitioner, a law student Prashant Sharma, in his PIL contended before the court that cannabis had been wrongfully clubbed with other chemical drugs under the stringent Narcotics Drugs and Psychotropic Substances (NDPS) Act, 1985. Urging the court to intervene, he argued that marijuana was an agricultural commodity used in various products such as food and beverages, cosmetics and personal-care products. The petitioner also told the court that cannabis had been legalised in several countries for medical and recreational purposes and suggested that the Central Government should have

Juneau City Officials Approve On-Site Cannabis Consumption at Dispensaries

City officials in Juneau, Alaska approved an ordinance on Monday that will allow the on-site consumption of cannabis products at licensed marijuana dispensaries. The ordinance was passed by the City and Borough of Juneau Assembly at Monday’s meeting by a vote of 6 to 2. Under the measure, Juneau cannabis dispensaries licensed by the state would be permitted to allow customers to smoke marijuana and consume cannabis edibles. The consumption of edibles would be permitted indoors but smoking cannabis would only be allowed outdoors at locations approved by state regulators. The ordinance was approved after months of debate over whether on-site consumption could be allowed without conflicting with Juneau’s second-hand smoke laws. Assemblymember Wade Bryson, one of the supporters of the ordinance, believes that allowing cannabis smoking at dispensaries would discourage people from illegally smoking pot in public places. “If you don’t like marijuana smoke, you should be for this ordinanc

Cleveland City Council Considering Cutting Consequences for Cannabis

The city council in Cleveland, Ohio will consider an ordinance that would eliminate the penalties for possessing moderate amounts of cannabis. The proposal was introduced on Wednesday by Councilman Blaine Griffin of Ward 6. Under Griffin’s proposal, all fines, penalties, and drug treatment requirements for possessing less than 200 grams (just over 7 ounces) of marijuana would be eliminated. The ordinance would also eliminate all penalties for giving away up to 20 grams of cannabis except when in the close proximity of a school or child. Griffin told reporters that he introduced the measure to reduce the racial bias prevalent in the enforcement of drug laws and to reduce the collateral effects of convictions for minor drug offenses, such as disqualification for housing or educational benefits. “I think this is the modern-day prohibition. The war on drugs to keep marijuana as a Schedule 1 drug hasn’t worked,” said Griffin . “So therefore, it’s time for us to reexamine our laws and loo

Billionaire Entrepreneur Launches Cryptocurrency Bank for Cannabis, Hemp Exchange

The cannabis industry and cryptocurrency have both generated considerable interest in recent years. Now, the two worlds are converging.  The Greek billionaire Alkiviades David on Thursday launched The Swissx Bank of Cannabis to help facilitate legal marijuana transactions around the world. The bank, which was launched in conjunction with David’s Swiss-based consortium and will be based in the Swiss Alps resort town of Gstaad, will also operate SWX Coin, described as “a cryptocurrency based on Bitcoin’s blockchain with single unit pricing is pegged directly to the median global price of premium hemp flower.” It is billed as the cryptocurrency to be tied to cannabis. The Swissx Bank of Cannabis says it offers customers and investors in the cannabis industry “a secure, transparent venue for all transactions,” as well as “a coin tied to a commodity.” So how will it work? The bank has created what it calls “The Farmer’s Wallet,” which will operate under the SWX Coin’s block-chain and th

MMA Fighters to Act as Test Subjects for Topical CBD Treatments

Ultimate Fighting Championship athletes will be the next group of players to participate in a multiphase clinical study on CBD’s effects on pain relief in their famously high impact sport. The league has announced that it is partnering with a Canadian cannabis company to examine the effects of non-psychoactive cannabinoids on its players’ health. The study will be used to develop a line of hemp-derived topical treatments manufactured by Aurora Cannabis. Officials from the league say that care, recovery, injury, pain, and inflammation in the mixed martial artists will be gauged by the investigation. Currently, 30 UFC athletes have signed up for the trial, which will be headed by a University of Alberta research scientist and Aurora’s VP of global research and medical affairs. They will receive support from a group of UFC Performance Institute sports performance researchers based in Las Vegas. “Collaborating with Aurora is the best way to educate ourselves and our fighters about the

Greenberg Traurig LLP Cannabis ETF deal illustrates Wall St. firms are moving past fears of working with cannabis companies

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By: Teri Buhl 26 July 2019 A top-tier law firm, Greenberg Traurig LLP, has lent its name to secure an effective registration of a pure-play cannabis ETF on a major U.S. stock exchange. Innovation Shares The Cannabis ETF ( $ THCX ), launched this month, is the brain child of a seasoned ETF manager Mark Markiewicz who cut his teeth building out hundreds of ETF’s at BlackRock iShares.   Mark Markiewicz   The journey to find a custodial bank, fund administrator, and a law firm that was willing to sign a rigorously inspected opinion letter took Markiewicz over a year. But given the reputations of the firms that partnered with him it could show more seasoned Wall St. firms are moving past fears of working with cannabis companies in a country where federal law still considers the plant illegal. THCX is a passively managed fund with a monthly rebalance that tracks the Innovation Fund Cannabis Index. It trades on the NYSE ARCA. Stocks picked for the index are only marijuana, hemp

Medical Marijuana Dispensary Shut Down After Owner Was Caught Selling Meth

An Oklahoma medical marijuana dispensary has been shut down after the owner of the shop was arrested on Wednesday for selling meth. Agents with the Oklahoma Bureau of Narcotics (OBN) arrested Jeffrey Peregrino, 38, the owner of the Left Handed Okies medical marijuana dispensary in Spiro, Oklahoma, who faces two counts of trafficking methamphetamine, according to a spokesman for the law enforcement agency. “On two separate occasions, our undercover agents have recently purchased meth from the owner of ‘Left Handed Okies’ dispensary in Spiro. Both of the transactions took place inside the dispensary office,” said Mark Woodward , an OBN spokesman. Authorities also issued an emergency suspension order to halt sales at the medical marijuana dispensary and confiscated the cannabis products that were on the premises. Coty Jerrell, the owner of a Left Handed Okies dispensary in Shady Point, Oklahoma, told reporters that the two businesses are not related. He also said that he owns the right

Smokeable Hemp Sparks A Firestorm

Key Takeaways from Today’s Hearing on the SAFE Banking Act

A Senate committee held a hearing on Tuesday to discuss ways for cannabis businesses operating legally under state law to obtain access to banking and financial services . At the hearing, Senators and witnesses including members of the cannabis industry focused on the Secure and Fair Enforcement (SAFE) Banking Act of 2019. Under the measure, federal banking regulators would be prohibited from penalizing banks that choose to serve cannabis firms doing business in accordance with state law. Under current regulations, banks are subject to penalties under federal money laundering and other laws for servicing such companies, leaving the cannabis industry to operate in a risky environment heavy in cash. The Senate’s version of the measure, ( S. 1200 ) was introduced in April by Sen. Jeff Merkley, a Democrat from Oregon, and has 31 co-sponsors. The House bill ( H.R. 1595 ) was introduced by Democratic Rep. Ed Perlmutter of Oregon and is co-sponsored by 206 representatives. In March, the bi

SUM Microdose Tablets Expands Into California Cannabis Market

Curaleaf shares down 8% after FDA sends warning letter over CBD health claims

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Marketwatch report…. Shares of cannabis company Curaleaf Holdings Inc. tumbled more than 7% Tuesday and dragged the broader sector lower, after the   U.S. Food and Drug Administration sent a warning letter   to the company for selling CBD-based products that claim to treat serious diseases. Curaleaf   CURLF,   -7.27%    is “illegally selling unapproved products containing cannabidiol (CBD) online with unsubstantiated claims that the products treat cancer, Alzheimer’s disease, opioid withdrawal, pain and pet anxiety, among other conditions or diseases,” the FDA wrote. Full report at https://www.marketwatch.com/story/curaleaf-shares-tumble-8-after-fda-warning-letter-over-cbd-health-claims-2019-07-23?mod=personal-finance   Full Letter Source: https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/curaleaf-inc-579289-07222019 Delivery Method:Via Overnight Delivery Product:Animal & Veterinary Drugs Recipient: Joseph Lusardi Presid