Canada Marijuana Sales to Outpace Liquor Sales by 2020, Predicts Imperial Bank of Commerce

Marijuana sales in Canada are likely to outpace liquor sales by 2020, according to a report released by the Canadian Imperial Bank of Commerce (CIBC).

“We believe that by 2020, the legal market for adult-use cannabis will approach $6.5 billion in retail sales”, claims the CBIC. “For context, this is greater than the amount of spirits sold in this country, and approaches wine in scale.”

These numbers are based on the CBIC’s calculation that Canadian’s will purchase 800,000 kilograms of legal recreational marijuana annually by 2020, at an estimated price of $10 per gram.  Prime Minister Justin Trudeau and his Liberal Party are working to have the legal marijuana industry underway by July.

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Oregon: Nearly $8 Million in Marijuana Taxes Garnered in March

Oregon made nearly $8 million in taxes from legal marijuana sales in March, a slight increase from the month prior.

According to Oregon’s Department of Revenue, the state garnered $7,839,406 in marijuana sales taxes in March of this year. $6,768,304 of this came from state sales taxes, with the remainder coming from local marijuana taxes. This is a slight increase from the $6,700,855 in marijuana sales taxes garnered in February ($7,708,791 when counting local taxes).

With the newest data the state is on tract to garner nearly $90 million in marijuana taxes for 2018. This would well surpass the $68,646,246 the state made in 2017, and the approximately $60 million made in 2016.

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Georgia Governor Signs Bill Allowing Medical Cannabis for PTSD and Intractable Pain

Legislation to expand Georgia’s medical cannabis program has been signed into law by Governor Nathan Deal.

Governor Deal signed House Bill 65 into law today, meaning it will take full effect on July 1. The new  law ads post traumatic stress disorder (PTSD) and  intractable pain to the state’s list of medical conditions that qualify an individual to become a legal medical cannabis patient. The legislation was passed by the Senate in March by a vote of 37 to 14. A week later it was passed by the House of Representatives 146 to 10.

Georgia’s medical marijuana law – passed in 2015 – allows certain qualified persons to legally possess up to 20 fluid ounces of “low THC oil”. It authorizes the Georgia Department of Public Health to issue a “Low THC Oil Registry Card” to qualified individuals.

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Study: CB2 Receptor Activation a “Useful Therapeutic Approach for Alzheimer’s Disease”

Activation of the body’s CB2 receptors, something done naturally through the consumption of cannabis, is a “useful therapeutic approach for Alzheimer’s disease”, according to a new study.

“Alzheimer’s disease is a multifactorial disorder for which there is no disease-modifying treatment yet”, states the abstract of the study, published in the journal CNS Drugs. “CB2 receptors have emerged as a promising therapeutic target for Alzheimer’s disease because they are expressed in neuronal and glial cells and their activation has no psychoactive effects.”

The aim of this study was “to investigate whether activation of the CB2 receptor would restore the aberrant enhanced proliferative activity characteristic of immortalized lymphocytes from patients with late-onset Alzheimer’s disease. It is assumed that cell-cycle dysfunction occurs in both peripheral cells and neurons in patients with Alzheimer’s disease, contributing to the instigation of the disease.”

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Using CBD to Treat Anxiety

By Gary W.

Cannabis’ negative stigma is being lifted and consumption of the plant is becoming a lot more normal than it was in recent years. Suitable for medical use, the cannabis plant naturally produces a broad spectrum of cannabinoids, one of which is Cannabidiol (CBD). When the correct strain and dosage is consumed, people with anxiety can experience rapid relief from their often debilitating symptoms.

CBD Strains are Highly Effective at Treating Anxiety

Dealing with anxiety is not fun. Some people may experience feelings of hopelessness when anxiety strikes, while others will feel like a recluse as they try to avoid social situations for fear of awkwardness. Thankfully, scientific research is opening a new door for anxiety sufferers, with recent studies proving CBD’s efficacy at relieving the symptoms.

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Michigan Panel Recommends Adding 10 New Conditions to State’s Medical Cannabis Program

Michigan’s Medical Marihuana Review Panel has recommended adding 10 new conditions to the list that qualifies an individual to become a legal medical cannabis patient.

The panel was recently presented with 22 medical conditions to consider adding to the Michigan Medical Marihuana Program, which was approved by voters in 2008. Out of these 22, the panel recommended that the state add 10 to the program. These include chronic pain, autism, obsessive compulsive disorder, inflammatory bowel diseases, ulcerative colitis, arthritis and rheumatoid arthritis, Parkinson’s disease, Tourettes syndrome and spinal cord injury.

The board’s recommendations now go to Shelly Edgerton, director of the Department of Licensing and Regulatory Affairs. Edgerton has until July 10 to make her final decision.

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Report Finds Legal Recreational Marijuana Consumers Use Less Pain Meds, Alcohol and Sleep Aids

Marijuana consumers in states where it’s legal for recreational purposes use considerably less pain medications, alcohol and sleep aids, according to a new report.

The report, compiled by High Yield Insights, found that more than one out of every five consumers of recreational marijuana use less spirits, beer, painkillers and sedatives than standard consumers.

Specifically, the report found that legal recreational cannabis consumers use 27% less over-the-counter pain medications, 22% less sleep aids, 21% less alcoholic spirits and 20% less beer than consumers in states that have not legalized adult-use marijuana.

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Missouri: Over 370,000 Signatures Submitted for Medical Marijuana Legalization Initiative

Earlier today New Approach Missouri submitted over 372,000 signatures for their initiative to legalize medical marijuana, well more than the 168,000 required to place the measure on the November general election ballot.

In a press release sent out today by New Approach Missouri (NAM), they stated that they are “virtually certain to have well in excess of the required signatures to be certified for the November ballot.”

If the initiative is approved by voters in November, it would establish  “a statewide system for production and sale of medical cannabis and medical cannabis products”. Patients would be allowed to grow their own cannabis, and “Instead of creating a short and restrictive list of qualifying conditions, this initiative puts power in the hands of a state-licensed physicians, not politicians or bureaucrats, to determine who will benefit from medical cannabis.”

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Louisiana House, Senate Committee Approve Bill to Allow Medical Marijuana for Autism

Louisiana’s Senate Health and Welfare Committee has passed a bill to allow those with autism spectrum disorders to become medical marijuana patients.

(Photo: WVXU.org)

Today’s vote on House Bill 627 by the Senate Health and Welfare Committee comes roughly a month after the measure was passed by the full House of Representatives in a 71 to 21 vote. The bill must now be passed by the full Senate before it can be sent to Governor John Bel Edwards for consideration.

The proposed law would expand the state’s medical marijuana program, approved in 2017, by adding autism spectrum disorders to the list of qualifying conditions.

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New Mexico Court Rules Governor’s Veto of Hemp Bills is Unconstitutional, Laws Can Take Effect

Justices on the New Mexico Supreme Court have upheld a lower court’s decision that strikes down Governor Susana Martinez’s veto of two industrial hemp bills.

Governor Martinez’s vetoes of House Bill 144 and Senate Bill 6 is unconstitutional, the justices ruled, meaning the two measures can officially become law. The proposals permit the Department of Agriculture to issue licenses for the cultivation of industrial hemp for research and development purposes in compliance with federal provisions (Section 7606) of the 2014 Farm Act.

Justices on the Court ruled the governor’s vetoes unconstitutional based on the fact that she failed to provide any written explanation for her vetoes, meaning that legislators had no guideline for revising the bills in a way that would lead to her signing the measures or allowing them to become law without a signature. Eight others measures that the governor vetoed, which are unrelated to hemp or cannabis, will also take effect due to a lack of explanation. Continue reading