420 with CNW – Thousands Submit Comments Urging FDA to Allow CBD in Supplements and Foods

The U.S. Food and Drug Administration (FDA) started receiving comments on CBD regulation from the public and other stakeholders in April and the comments period came to an end early last week.

The agency had initially planned to close the comments period on July 2 but the overwhelming public interest in the matter led the FDA to extent that deadline to July 16. By the close of the comments period, more than 4,400 submissions had been filed by individuals and organization.

The comments received covered everything imaginable about the therapeutic effects of CBD, how the compound should be tested, packaged and marketed, as well as matters of consumer protection and law enforcement.

There were hundreds of comments from individuals who claimed that CBD had helped them to deal with the symptoms of different health challenges, such as pain and anxiety. Other people claimed that they were able to wean themselves off of other drugs that had serious side effects by using CBD.

Several health associations and medical professionals submitted comments to the effect that the agency should regulate CBD as a health supplement as long as strict labeling and quality standards are set for manufacturers.

The Dravet Syndrome Foundation submitted a comment urging the FDA to formulate regulations that standardize the labeling of CBD supplements on matters of concentration, stability and the ingredients in the products since Dravet syndrome sufferers have been turning to these products after failing to get relief from the existing remedies.

A group of 37 state attorneys general also wrote to the FDA asking the agency to formulate rules that would protect consumers by requiring manufacturers to provide accurate information about the risks and potential benefits of CBD products. This would enable consumers to make an informed decision about the CBD products they use.

The Center for Science in the Public Interest (CSPI) submitted their comment requesting the FDA to design a program through which the state laws on CBD and other related products could be gradually aligned with the federal regulations on these products. By bringing uniformity to the CBD rules across different jurisdictions, the FDA will have taken a significant step towards safeguarding consumers from adulterated, mislabeled and contaminated CBD products, CSPI added.

The National Association of State Departments of Agriculture (NASDA) called on the FDA to work closely with them in order to find ways to regulate the industry without stifling its growth.

The FDA will use these comments, along with any other input it receives from other fora, such as a planned hemp conference next month, while formulating the draft rules for the hemp industry which are slated to be released in August.

Marijuana industry analysts believe that players like VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8), will be eager to see what rules are finally released since CBD products could be an additional moneymaker for these entities.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – The Global Cannabis Market is Expected to Be Worth $66.3B by 2025

The global legal cannabis market size is predicted to reach $66.3 billion by the end of 2025. This market is expected to grow at a compounded annual growth rate (CAGR) of 23.9 percent within the years covered in the forecast. The increasing legalization of marijuana and the demand for medicinal marijuana is expected to be the key driver of this market growth.

In the coming years, the growing demand for cannabis products in the treatment of various health conditions, such as Alzheimer’s, cancer, Parkinson’s, arthritis, and several neurological conditions is expected to boost the demand for marijuana as a pharmaceutical product.

Additionally, many countries and jurisdictions have legalized marijuana either for recreational or medicinal purposes. This has had a major adverse effect on the black market of marijuana in those areas, and this is a plus for the legal industry that will see the market expand at the predicted pace. The desire for governments to earn from the legal industry is another factor that will contribute to further legalization and expansion of the marijuana market.

Regionally, the demand for marijuana products is likely to be largely driven by the huge market in the U.S. and Canada, especially for medical marijuana. In contrast, the stringent regulations and rules imposed on the cultivation and sale of medical marijuana in Europe may dampen the growth of the industry on the European continent even if markets like Germany offer great promise.

At the moment, Israel is playing a pivotal role of sharing its technological prowess and cannabis knowledge with other parts of the world. As these markets, such as Thailand the U.K, open and grow, the global market will benefit from these potentially major players in the industry.

The report also points out that in 2018, the cannabis market in the U.S. was valued at $11.9bn and it is expected to grow at a compounded annual growth rate of 24.1 percent for the duration of the forecast in the report till the end of 2025.

Cannabis buds or dried flower took the lion’s share of the global marijuana market in 2018 because it accounted for more than half of all the sales recorded in the industry. This segment is expected to grow at a CAGR of 20.6 percent during the forecast period.

Analysts strongly feel that this bullish outlook for the global marijuana industry will spur industry players like TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) and Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) to ramp up their own growth plans in order to cash in on the global growth of the industry.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Cannabis Edibles Could Cause a Spike in Life Insurance Premiums for Canadians

As Canadians countdown to the start of cannabis edibles sales in December, some sobering information is filtering in to the effect that life insurance premiums could go up depending on one’s cannabis edibles consumption habits.

When recreational marijuana was legalized in October 2018, most insurance companies stopped regarding marijuana users as smokers. People who are categorized as smokers can pay up to four times more in life insurance premiums when compared to those who are categorized as non-smokers. This is because smokers are seen as being higher-risk clients for insurance companies.

However, it has emerged that one’s marijuana consumption habits can still get that person in the smokers’ category when taking out a life insurance policy.

Different insurance companies have their own cannabis consumption threshold beyond which the individual is classified as a smoker. Many put the weekly consumption cap at 2-4 times, but some have a higher consumption threshold.

So, what’s the deal with cannabis edibles and life insurance premiums?

It is anticipated that marijuana edibles will appeal to a broader section of the Canadian community, including those who are queasy about smoking cannabis flower. Additionally, it will be easier for someone to consume an edible product, such as a brownie, containing cannabis since these products will become readily available.

For example, many will not find any problem consuming at least one cannabis edible each day, and it is rational to expect lots of Canadians to consume more than one pot edible a day. This puts their weekly average consumption at more than the threshold set by insurers, and the smoker classification can get activated for such people.

Since marijuana has only been recently legalized, insurance policies are still in their infancy and the fine print hasn’t yet been adjusted to cater for the actual quantity of marijuana consumed. For example, a small brownie containing a small amount of marijuana is currently rated the same as a jumbo one having much more marijuana than what is contained in the smaller brownie.

This seems unfair to marijuana users, but it is what it is until the policies are modified to accommodate those nuances.

Some people may be wondering how life insurance companies will get data on their clients or prospective clients’ cannabis consumption habits. While these insurers will not access your cannabis products purchase records, they will ask you to provide some information about your marijuana consumption habits as you take out a policy.

If you downplay how much marijuana you consume in order to avoid being classified as a smoker, you face a high risk of any insurance claim you or your loved ones make being denied if the insurer later discovers, from your medical records for example, that you consume way more marijuana than what you declared. A discussion with your attorney is advisable before you sign any life insurance paperwork.

These developments in Canada paint a picture of what could happen in the U.S. if the federal government ever amends its marijuana policies to become more permissive towards the substance. How would this insurance issue play out? It would be enlightening to know what the take of marijuana industry players like VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) is on this matter.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Acquisitions, Licenses, Research Key in Consistent Cannabis Market Growth

CannabisNewsWire Editorial Coverage: The cannabis sector continues its steady shift toward big business and big money, with much of growth based on acquisitions, agreements and consistent research.

TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) (TCAN Profile) is focused on creating a large operation with various licenses and recognized brands, with several key acquisitions, being part of that strategy. Medmen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) is in the process of acquiring PharmaCann, which recently received an extension to complete the development of its cultivation facility in Ohio. Cronos Group Inc. (TSX: CRON) (NASDAQ: CRON) just entered into a multiyear supply agreement that will help the company provide high-quality products to consumers in anticipation of the derivative market launching in Canada this fall. Tilray Inc. (NASDAQ: TLRY) recently completed its acquisition of Manitoba Harvest, the largest hemp food company. GW Pharmaceuticals Plc (NASDAQ: GWPH) continues its march forward as a leader in cannabinoid prescription medicines sector with its recent announcement of positive, top-line results of a Phase 3 clinical trial of Epidiolex® in the treatment of seizures associated with…

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About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

420 with CNW – Canadian Companies Forced to Delay Launching “Cannabis 2.0” Products

The effects of the longstanding cannabis shortages in Canada are being felt far beyond the empty shelves in retail outlets. When recreational marijuana was legalized on October 17, 2018, a promise was made that marijuana edibles, vapes, CBD and beverages (so-called cannabis 2.0 products) would be available for purchase exactly one year later. Now the regulator has delayed the start of retail sales of those products citing a procedural requirement for the producers.

Health Canada, the regulator of the marijuana industry in Canada, held a briefing on Friday, June 14 in which the regulator informed the public that there would be a delay in rolling out the “cannabis 2.0” products for another two months.

Health Canada mentioned that while its rules would start being operational on October 17, it wouldn’t be possible for any edibles or other “2.0 products” to be sold until at least two months later. This is because the manufacturers of those products will start filing notices with the regulator of the products being brought to market and those manufacturers must then wait for a minimum of 60 days before starting to ship the products to the retail outlets.

It is believed that the 60-day window will allow the regulator to scrutinize those products and approve those which meet all the requirements in the law. In effect, retail sales will begin on Dec. 17 or thereafter.

The revenue generated from cannabis edibles and other second-generation marijuana products will not be reflected in the earnings of the fourth quarter (Q4) of this year. Instead, those figures will only become meaningful at the end of Q1 of 2020.

Canadian companies like Aurora Cannabis and Canopy Growth had been looking forward to launching the sale of these products because those products have performed excellently in the U.S. states which permit their sale.

These Canadian companies are therefore going to have no choice but to revise their revenue projections for Q4 of 2019 to reflect this delay to bring edibles, beverages and other “second-wave” marijuana products to the market.

On the other hand, marijuana companies shouldn’t be too concerned by the delay unless the cannabis 2.0 products were going to carry a bigger profit margin than the smokable flower which is chronically sold out at retail outlets.

Analysts are eager to know what marijuana industry players like VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) have to say about this latest announcement by Health Canada.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CNW420.com

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Acquisitions Reveal the Steadily Changing Shape of the Cannabis Sector

CannabisNewsWire Editorial Coverage: The cannabis sector continues its steady shift toward big business, big money and a focus on the value add of immaterial assets.

TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) (TCAN Profile) has made several key acquisitions, creating a large operation with various licenses and recognized brands. HEXO Corp. (TSX: HEXO) (NYSE American: HEXO) has taken a similar path with the acquisition of Newstrike. Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) is building a positive public profile through releasing educational tools. Aphria Inc. (TSX: APHA) (NYSE: APHA) has expanded the hunt for cultivation licenses to Germany. Meanwhile, companies such as Charlotte’s Web Holdings Inc. (TSX: CWEB) (OTCQX: CWBHF) keep releasing…

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About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

420 with CNW – First Cannabis Charity Launches in Canada

Hope for Health, a Toronto-based charity, has been launched as the first cannabis charity registered by the Canadian government. The charity is registered in the category of organizations whose intention is the “advancement of education.”

Hope for Health says it aims to enable patients to manage their health effectively while also giving them the autonomy to choose which cannabis products and cannabis producers to deal with.

The charity kick-started its operations amidst fears that medical marijuana patients are getting reduced attention as more attention is directed towards the recreational market. This is seen in the rising medical marijuana product prices. Access points for medical cannabis are also reducing while a new excise tax on marijuana prices has also been imposed on medical marijuana products. This excise tax can only be waived on the product price if the company selling medical marijuana products opts to absorb that cost.

To alleviate this increased cost of medical marijuana products, Hope for Health has decided to avail a renewable monthly stipend to patients who meet the eligibility criteria of the charity. This stipend is conditioned upon the patient purchasing their medical marijuana products from one of the 170 producers licensed by the Canadian federal government.

Hope for Health intends to take on at least 150 patients during its first year of operation. More patients will be onboarded each year and the number will vary depending on the resources available as well as the level of interest displayed by patients.

The charity doesn’t only have its eyes on patients. Hope for Health plans to create and disseminate educational materials to health care professionals about the medicinal benefits of marijuana. This will be done in conjunction with creating partnerships with research organizations, academic institutions and medical associations.

Hope for Charity is the brainchild of Auxly Cannabis Group, an entity that provides financing to cannabis cultivators. Auxly Cannabis Group has committed itself to availing funding that they are calling “a cornerstone donation.” The funds will be used to get the charity on its feet.

Hugo Alves, the director of Hope for Health, remarked that the idea of the charity was conceived three years ago. The founders felt that every entity which had reaped from the cannabis industry in the country would rally around the idea and support its operations.

The founders also strongly felt that the leadership and management of the charity should be independent if Hope for Health is to retain its appeal to all players in the industry. To this end, they selected Dr. Jenna Valleriana as the Executive Director of the charity.

Dr. Valleriana is a respected cannabis policy expert who heads the National Institute for Cannabis Health and Education. She recently published a cannabis education toolkit which was used by two other organizations to design digital tools aimed at educating students and parents about marijuana.

TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) and Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) commend the people behind Hope for Health and wish them all the best in their noble undertaking.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CNW420.com

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420 with CNW – Missouri Puts Final Touches to Medical Marijuana Rules

Voters in Missouri approved a ballot measure which legalized medical marijuana in 2018. In March this year, the Department of Health and Senior Services released draft rules for the medical marijuana program and invited public comment on those rules. Last week, the department completed making changes to the draft rules based on the feedback received and they published the revised draft rules on the department’s website on Friday.

The rules cover 11 broad aspects of the medical cannabis program. These include rules covering patients and caregivers participating in the program, cultivation facility license procedures and requirements, testing facilities, seed to sale marijuana tracking and the rules governing medical marijuana manufacturing facilities.

The Department of Health and Senior Services (DHSS) will start receiving patient applications based on these rules on July 4 while applications from businesses which want licenses will be received starting August 3. The application forms are now available on the website and all interested parties can access and fill those forms.

DHSS will then start scoring the business applications and complete this exercise on December 31 this year, after which business licenses will be issued to the successful applicants in 2020.

The medical marijuana program has attracted a lot of interest from the business community, and the state expects to generate millions of dollars in taxes and fees from the industry.

However, the actual earnings are likely to fall short of what has been predicted. Economics professors at Missouri University crunched the numbers and concluded that the number of eligible patients in the state would be less than initially expected. The professors estimated that in 2022, the medical marijuana program is likely to raise about $3.4 million in taxes and fees, a figure which is much lower than the $24 million predicted by the people behind the initiative which saw the approval of the ballot measure legalizing medical marijuana.

In the meantime, 510 applications have been pre-filled and are due to be submitted. Those applications have generated more than $3.67 million in application fees. From these applications, 60 cultivation facilities, 86 manufacturing facilities and 192 medical marijuana dispensaries will be selected. The state will license 24 dispensaries for each of the eight congressional districts.

These draft rules will also be subject to public comment and a public hearing will be organized in July. TransCanna Holdings Inc. (CSE: TCAN) and Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) applaud the authorities in Missouri for systematically implementing the roadmap to the commercialization of the medical marijuana program.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000

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Hunt for Perfect Acquisitions Reshapes Cannabis Industry

CannabisNewsWire Editorial Coverage: Cannabis companies are using increasingly refined acquisition tactics to create vertical integration.

TransCanna Holdings Inc. (CSE: TCAN) (XETR: TH8) (TCAN Profile) has developed a refined acquisition strategy, assessing more than one hundred targets before settling on a select few to acquire. Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), one of America’s leading multistate cannabis companies, has recently announced its agreement to acquire CannaRoyalty Corp. (OTCQX: ORHOF), giving it control over a vast distribution platform. In Canada, HEXO Corp. (TSX: HEXO) (NYSE American: HEXO) has been given approval to acquire Newstrike, as the country’s vibrant industry consolidates following recent dramatic growth. For those without vertical integration, companies such as DionyMed Brands Inc. (CSE: DYME) (OTCQB: DYMEF) provide vital support services, including…

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – State Statistics Reveal Less than 50 Percent of Ohio Patients Have Purchased Medical Marijuana

Medical marijuana was legalized in Ohio in 2016 and sales only started this year. Figures coming in from the state show that only 15,339 of the patients who hold medical marijuana cards have so far visited a dispensary and purchased medicinal marijuana products. Several factors can explain why just 49 percent of the cardholders have bought medical marijuana.

First, very few medical marijuana dispensaries have opened their doors to patients. Out of 56 dispensary licenses which were issued, just a paltry 15 establishments have started operating. These few dispensaries aren’t evenly distributed across the state, and this may explain why few patients have visited them and bought products.

Secondly, the price of the available products is still too high for many patients. The high prices may be resulting from the limited competition between the few dispensaries which have opened. Additionally, not many growers and processors are currently operating in the state. Prices are expected to reduce as more growers and processors come on board to supply the dispensaries in the state.

The state agencies involved in regulating the medical marijuana program also released other statistics related to the program.

For example, out of the 31,075 patients registered on the medical marijuana program, 171 have a diagnosis for a terminal illness, such as cancer. This could suggest that these people are taking medical marijuana to deal with pain.

The medical marijuana register also has 2,109 people registered as caregivers. Caregivers buy and administer medical cannabis to minors or people whose illness is so severe that they cannot buy and administer the medical marijuana by themselves.

In terms of sales, $5.8 million has been recorded as the revenue earned by medical marijuana businesses in the first four months of 2019. This is way below the potential of the industry since Ohio is ranked 7th in the country in terms of its population and GDP.

In total, 750 pounds of marijuana plant material were sold by the medical cannabis dispensaries in the past four months. 3,610 units of manufactured cannabis products, such as oils and tinctures, were also sold.

Larger volumes of products are expected to be sold as medical marijuana becomes more readily available and as more people qualify for medical cannabis cards after more qualifying conditions were added to the initial list of 21 qualifying conditions.

TransCanna Holdings Inc. (CSE: TCAN) and Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) encourage all the entities that have received medical cannabis licenses to start operations quickly so that they can contribute to the growth of the medical marijuana industry in Ohio.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com