Jesse Carpender https://cashinbis.com Thu, 25 Jan 2018 00:21:43 +0000 en-US hourly 1 While Washington Questions Cannabis, Industrial Hemp Industry Has Major Support https://cashinbis.com/washington-industrial-hemp-industry-major-support/ https://cashinbis.com/washington-industrial-hemp-industry-major-support/#respond Tue, 23 Jan 2018 16:24:47 +0000 https://cashinbis.com/?p=9824 While Washington Questions Cannabis, Industrial Hemp Industry Has Major Support

Attorney General Jeff Sessions’ recent attempt to slow legal progress in the cannabis industry will have no effect on industrial hemp, which has support...

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While Washington Questions Cannabis, Industrial Hemp Industry Has Major Support

Attorney General Jeff Sessions’ recent attempt to slow legal progress in the cannabis industry will have no effect on industrial hemp, which has support in Washington, according to industrial hemp industry leaders.

Legislators moved to support industrial hemp as recently as December, when the Industrial Hemp Banking Act (H.R. 4711), was introduced in the United States House of Representatives by Rep. Andy Barr of Kentucky and co-sponsored by Rep. James Himes of Connecticut and Rep. Jared Polis of Colorado. The bill seeks to ease strict requirements for banks serving the industrial hemp industry, and bar action by federal regulators.

“I’m co-sponsoring the bill because hemp’s potential is boundless, and I want to ensure companies can reap the benefits it has to offer and access customer and financial services like loans, credit card processors and banks,” Rep. Polis told HEMP.

In August, Rep. James Comer of Kentucky introduced the Industrial Hemp Farming Act of 2017, which would declassify hemp as a Schedule I narcotic under U.S. Drug Enforcement Agency policy.

“It’s a huge step forward,” Comer said in a release. “It reclassifies hemp to an agricultural crop like corn or soybeans where it belongs.”

Comer is planning to seek support for his bill in the Energy and Commerce Committee, as well as the House Judiciary Committee, but he said it is possible the bill might be included in the upcoming farm bill, according to DTN/The Progressive Farmer. While he supports hemp, Comer has said he does not support legalization of cannabis and is looking to “differentiate between marijuana and hemp.”

Hemp, Inc. CEO Bruce Perlowin said the ‘Session obsession’ with cannabis really has nothing to do with hemp at all. “The first two days of January, everyone went crazy. Sessions talks about his marijuana obsession, and all the pot stocks drop.

We put out a press release saying – We’re industrial hemp. No matter what the federal government does, it won’t affect us,” Perlowin said.

 

North Carolina-based Hemp, Inc. (OTC PINK: HEMP) is a global leader in the industrial hemp industry, with the largest multi-purpose industrial hemp processing facility in the western hemisphere.

Bruce Perlowin of Hemp Inc.. – CMW Media/Christian Rodas

Perlowin said Washington’s recent support comes from years of educating politicians on hemp, especially emphasizing that hemp is not psychoactive, with a legal limit of under 0.3 percent THC. “For a long time, everyone thought hemp was marijuana. The politicians have been educated,” Perolwin said. “It’s much more accountable when you can’t get high – from hemp we can make rope, clothes, circulation material. Hearst paper mills and DuPont plastic aren’t around – there’s no real pushback to hemp anymore. The public-at-large doesn’t know as much about hemp as the politicians do. We have massive bipartisan support.”

Industrial hemp has state-side support as well. Washington removed hemp plants from the state’s controlled substance list in 2017 and launched an industrial hemp research pilot in 2014, but the program has been inactive due to lack of funding.

In 2017, Arkansas, North Carolina, Pennsylvania and Hawaii launched state-wide industrial hemp pilot programs. Wisconsin passed a law allowing farmers to grow industrial hemp. In New York, universities such as Ithaca and Cornell are running hemp research programs.

Perlowin said Sessions’ move to let the Cole memo expire this month – which removed the cannabis industry’s protections from federal prosecution – has only made political supporters more vocal about cannabis legalization.

“Why did the whole sector [stocks] go up after Session’s obsession came out? The pushback. The governor of Colorado called him a liar. He got pushback from California, and more governors, senators, congressmen. It united everyone in the industry. It has united the movement,” he said.

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New Cannabis Product CBD-Infused Sparkling Water Gains Western US Distribution https://cashinbis.com/cannabis-product-mountjoy-sparkling-cbd-infused-sparkling-water-western-us-distribution/ https://cashinbis.com/cannabis-product-mountjoy-sparkling-cbd-infused-sparkling-water-western-us-distribution/#respond Thu, 18 Jan 2018 17:23:16 +0000 https://cashinbis.com/?p=9809 New Cannabis Product CBD-Infused Sparkling Water Gains Western US Distribution

CBD-infused sparkling water is coming to gas stations and convenience stores across the western United States this year as Mountjoy Sparkling finalized an agreement...

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New Cannabis Product CBD-Infused Sparkling Water Gains Western US Distribution

CBD-infused sparkling water is coming to gas stations and convenience stores across the western United States this year as Mountjoy Sparkling finalized an agreement with Green Reef Distributing.

Mountjoy Sparkling offers two cannabinoid infused sparkling water products – one with THC and one with CBD – in a variety of flavors. The percentage of cannabinoids in Mountjoy Sparkling’s THC beverage and in the new CBD beverage is 10 mg.

The CBD-infused sparkling water was launched this month. The THC version of Mountjoy Sparkling has been available through dispensaries and delivery services throughout California including Riverside Wellness, Harborside, Ketama, Delta Delivery, Megan’s Organics, and Santa Barbara Care Center.

In a recent interview, Mountjoy Sparkling Water CEO Alex Mountjoy said in an industry that is producing increasingly familiar products, his brand aims to produce high quality consumer goods at the level of national brands.

With wider distribution, the company anticipates national advertising. “We are anticipating being able to launch national ads as our new beverage makes its way in to gas stations and convenience stores across the western U.S,” Mountjoy said.

“Mountjoy CBD is a full-spectrum product derived from hemp, and, unlike THC, does not evoke a psychoactive response when consumed. Mountjoy’s unique process creates an interactive synergy or ‘entourage effect’ that magnifies the therapeutic benefits of the hemp plant’s individual components. The new beverage will be offered in natural, orange and peach flavors,” according to a release.

“We are excited to launch Mountjoy Sparkling into the marketplace,” said Nick Gagliardi, CEO of Green Reef Distributing, Inc. “We, at Green Reef, strive to find the best products in cannabis and bring them to market. We strongly feel Mountjoy is a best of class beverage company and believe the consumers will love the taste and quality of products.”

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CBD Oil Approved in Paraguay: The World’s Third Cannabis Product to Be Registered as Medicine https://cashinbis.com/rsho-cbd-oil-approved-paraguay-cannabis-products-medical-marijuana-inc/ https://cashinbis.com/rsho-cbd-oil-approved-paraguay-cannabis-products-medical-marijuana-inc/#respond Tue, 09 Jan 2018 16:56:32 +0000 https://cashinbis.com/?p=9289 CBD Oil Approved in Paraguay: The World’s Third Cannabis Product to Be Registered as Medicine

Paraguay approved two cannabis products as medicines, allowing cannabidiol (CBD oil) Real Scientific Hemp Oil-X™ (RSHO-X™) and RSHO™ Blue Label by Medical Marijuana Inc....

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CBD Oil Approved in Paraguay: The World’s Third Cannabis Product to Be Registered as Medicine

Paraguay approved two cannabis products as medicines, allowing cannabidiol (CBD oil) Real Scientific Hemp Oil-X (RSHO-X) and RSHO Blue Label by Medical Marijuana Inc.

While Paraguay has long been known as a world leader in producing black market cannabis, it has been illegal to grow cannabis in Paraguay until just last week.

Paraguay’s congress passed a bill on Dec. 5 creating a state-sponsored system to import cannabis seeds and grow medical cannabis, a decision that followed Peru, Chile, Argentina and Colombia’s medical cannabis legalization. Uruguay has fully legalized growing and selling cannabis for any use, according to Reuters.

Asuncion, Paraguay

This marks only the third botanical cannabis product to be approved as a medicine in the world. Many European countries approved cannabinoid medicine Sativex, an oral spray for MS Spasticity and chronic cancer pain, in 2013.

Epidiloex, a cannabinoid medicine for epilepsy syndromes, has also been approved in Europe and is being considered for approval by the United States’ Food & Drug Administration. There is one other approved cannabis product called Marinol, which treats vomiting symptoms from cancer medications, but it is synthetic versus botanical.

Medical Marijuana, Inc. CBD oil products will be available through Paraguay’s medical distribution channels. The company is the first publicly traded cannabis company in the United States.

Real Scientific Hemp Oil-X is used to treat epilepsy symptoms and chronic pain. It is non-psychoactive with trace amounts of THC.

“This is yet another example of the international trend of acceptance of medical research on CBD for medical use,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus.

“We are continually encouraged by the decisions of governments to permit use of our products for patients suffering from multiple medical indications, where conventional medicine has had modest effects.”

Medical Marijuana, Inc.’s CBD hemp oil products have been used by over 100 citizens in Paraguay with medical indications ranging from cancer, pain, multiple sclerosis, epilepsy and various other neurological diseases, according to a release. In 2016, Real Scientific Hemp Oil became the first medical cannabis product approved and imported for use in Paraguay as a supplement.

“We are a company of firsts, and we are excited about this new historic milestone of being the only company to have a CBD product registered in Paraguay,” said Titus.

Earlier this year, RSHO was also the first cannabis product approved for Brazil and Mexico. Medical Marijuana, Inc. reported a total gross profit of 297 percent compared to Q3 2016, after focusing on international expansion and cannabinoid research this year.

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Jeff Sessions Just Made Canada’s Structured Cannabis Market More Attractive https://cashinbis.com/jeff-sessions-canada-cannabis-market/ https://cashinbis.com/jeff-sessions-canada-cannabis-market/#respond Fri, 05 Jan 2018 20:10:26 +0000 https://cashinbis.com/?p=9611 Jeff Sessions Just Made Canada’s Structured Cannabis Market More Attractive

Canada’s cannabis industry leaders anticipate that U.S. Attorney General Jeff Sessions’ rollback of the Cole memo will have positive effects on the country’s newly...

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Jeff Sessions Just Made Canada’s Structured Cannabis Market More Attractive

Canada’s cannabis industry leaders anticipate that U.S. Attorney General Jeff Sessions’ rollback of the Cole memo will have positive effects on the country’s newly regulated cannabis market.

Vancouver-based Medipure Pharmaceuticals CEO Boris Weiss said “It’s been widely reported that industry and investor interest is looking ‘up north’ because of the progressive stance of the Canadian Prime Minister.”

On Thursday, Sessions rescinded the Cole Memo, a policy that allowed for the legal cannabis industry to flourish across the United States, according to AP reports.

“If anything, this only further illustrates that Canada is the best place to conduct research in the cannabinoid field,” Weiss said. “The US has been unable to balance their federal and state laws, whereas Canada has taken a lawfully unified approach to cannabis and cannabinoid molecules that makes working in the regulatory environment safer and more stable.”

Canada will fully legalize marijuana by July 2018, which has been good news for Canada’s cannabis stocks, with the top four producers worth over $7.8 billion.

Canopy Growth Corp. stocks more than doubled in 2017. Aurora Cannabis Inc. more than tripled, Aphria Inc. gained more than 180 percent and MedReleaf Corp. has climbed more than 60 percent since its June debut, according to Bloomberg.

Recreational cannabis sales are estimated to grow to C$6 billion by 2021.

“Canada’s structure for a regulated cannabis market makes it more attractive to investors,” Weiss said. “Most would agree that investments in unregulated or legal gray areas are inherently risker than lawfully regulated markets.”

Medipure Pharmaceuticals operates under strict guidelines of Canadian federal regulatory agencies including Health Canada. The company is creating cannabis-based medicines for pain, Post-Traumatic Stress Disorder and anxiety disorders, and dermatological conditions such as psoriasis.

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“What Medipure Pharmaceuticals is doing with cannabinoid-based prescription drugs for targeted diseases will only prove the true benefits of these molecules and plan to do so in a well-regulated, federally legal environment,” Weiss said.

Fellow Canadian company InMed Pharmaceuticals Inc. shares this viewpoint. InMed CEO Eric Adams said “Certainly, stability on all levels is important and we look forward to things normalizing in the US. Canada has been and will continue to be a leader in all aspects of the marijuana industry, including on the pharmaceutical side, where there is a long track record and depth of knowledge at the regulatory level for cannabinoid compounds.”

By producing cannabinoids in a bacterial biosynthesis system, this pre-clinical stage biopharmaceutical company is developing therapies for multiple diseases, including Epidermolysis Bullosa, Glaucoma, and pain.

InMed‘s pharmaceutical research is coupled with innovative drug delivery systems that have a futuristic feel – recently, the company announced success in creating topical eye drop that forms a “gel-like” lens over the eye, promoting extended absorption through the eye.

“InMed, as a pharmaceutical company, has a very well defined pathway to commercialization which includes stringent regulatory oversight by the FDA,” Adams said. “While overall acceptance of the medical benefits of marijuana by the public-at-large is nice to have, our target audience are physicians and caregivers who treat patients with serious illnesses.”

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Cannabis Attorney’s Advice to Cannabis Businesses: Continue to Focus on Compliance https://cashinbis.com/cannabis-attorney-advice-cannabis-businesses-continue-focus-compliance/ https://cashinbis.com/cannabis-attorney-advice-cannabis-businesses-continue-focus-compliance/#respond Fri, 05 Jan 2018 17:34:19 +0000 https://cashinbis.com/?p=9601 Cannabis Attorney’s Advice to Cannabis Businesses: Continue to Focus on Compliance

In light of Jeff Sessions rescinding the Cole memo, cannabis businesses should focus on compliance with their state and local regulations, according to Los...

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Cannabis Attorney’s Advice to Cannabis Businesses: Continue to Focus on Compliance

In light of Jeff Sessions rescinding the Cole memo, cannabis businesses should focus on compliance with their state and local regulations, according to Los Angeles cannabis attorney Kellsi Booth.

“Attorney General Jeff Sessions rescinded the Department of Justice principles specific to marijuana enforcement that federal prosecutors, states, and cannabis industry participants have relied upon for years,” Booth said.

Sessions reaffirmed that marijuana is a ‘dangerous’ drug and marijuana activity remains a ‘serious crime’ in the eyes of the federal government. In place of the Ogden and Cole memos, Sessions encouraged federal prosecutors to consider the ‘general principles’ governing federal prosecutions in determining which marijuana activities to prosecute.

Booth got her start in the cannabis industry with the Maryland Department of Health, where she helped the Natalie M. LaPrade Medical Cannabis Commission create regulations for their medical cannabis program.

Booth shared this feedback on how cannabis businesses should approach the news.

Are there any actions businesses should take to protect themselves?

As long as marijuana remains a schedule I drug, marijuana businesses are at risk. However, I am certain that states like California and Colorado who have invested significant amounts of time and money into developing comprehensive medical and adult use marijuana programs will not let these businesses go down without a fight.

Businesses should continue to comply with all state laws and regulations, and establish positive relationships with the communities they serve to show that cannabis can be a benefit rather than a detriment. Finally, everyone who believes that marijuana should be legalized should push their federal lawmakers for marijuana law reform.

Can we expect any immediate action from federal prosecutors?

This announcement has created confusion and uncertainty. However, the practical implications of this policy change remain to be seen. Marijuana has always been a schedule 1 drug, and the Obama-era policies did not change that.

Rather, the Ogden and Cole memos spelled out certain enforcement priorities that I believe are largely in keeping with the general federal prosecution guidelines Sessions refers to in his own memo.

Should we anticipate more changes in federal law?

The fact of the matter is federal law is out of touch with reality. “Legal” marijuana is the fastest-growing industry in the United States, and the states have shown that marijuana can be decriminalized and regulated safely and effectively.

This is a wakeup call for Congress to change the antiquated laws and move forward with marijuana law reform.

In the coming weeks, I will be carefully watching to see whether Congress will take a stand or will follow the DOJ’s lead by removing the protections provided for the medical marijuana industry by the Rohrbacher-Blumenauer amendment.

Read Booth’s advice on 8 Factors California Cannabis Businesses Need to Know About State Licensing.

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Cannabis Industry Leaders React to Jeff Sessions Rescinding The Cole Memo https://cashinbis.com/cannabis-industry-leaders-react-jeff-sessions-rescinding-cole-memo/ https://cashinbis.com/cannabis-industry-leaders-react-jeff-sessions-rescinding-cole-memo/#comments Thu, 04 Jan 2018 20:36:31 +0000 https://cashinbis.com/?p=9589 Cannabis Industry Leaders React to Jeff Sessions Rescinding The Cole Memo

Attorney General Jeff Sessions has rescinded the Cole Memo, a policy that allowed for the legal cannabis industry to flourish across the country, according...

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Cannabis Industry Leaders React to Jeff Sessions Rescinding The Cole Memo

Attorney General Jeff Sessions has rescinded the Cole Memo, a policy that allowed for the legal cannabis industry to flourish across the country, according to AP reports.

The Obama-era Cole Memo allowed states to make decisions on legal cannabis, without federal intervention or prosecution of cannabis businesses. Sessions’ new stance allows federal prosecutors to enforce federal law prohibiting growing, sales and distribution of cannabis.

Cannabis industry leaders, who long anticipated prohibitive action from Sessions, are prepared for what’s ahead.

Marco Hegyi, CEO of Growlife Inc, a nationally recognized cultivation brand, said he does not anticipate an impact on GrowLife’s business. “The legal rights granted by the California government to its citizens is a political issue that is beyond our control, however, we do not see it impacting GrowLife’s business,” he said. “GrowLife sells ‘picks and shovels’ to cultivators and does not sell the cannabis plant.  Therefore it does not see a reason to have any more legal exposure than the electric company, water utilities or facilities provider in providing its supplies to its customers.”

Concerns as to whether medical cannabis patients and consumers will be vulnerable to federal prosecution remain.

“This is my personal concern,” Hegyi said. “We are dealing with serious health matters where patients may be directly affected.  The potential of turning ailing US citizens into criminals is reprehensible.  Our veterans suffering from PTSD have found legal relief with Cannabis as have cancer patients and children with radical epilepsy.”

I am a businessman not an activist but at some time we must take a stance and not permit bureaucracy to threaten lives and livelihoods. This is not a money issue but one of human rights,” Hegyi said.

Investor confidence in the cannabis industry will be affected, said Avis Bulbulyan, CEO of SIVA Enterprises. “By far, the biggest impact and hit will be to investor confidence. This will probably slow down some of the money that’s been rolling in, at least for the immediate future, but understanding how far the industry has come, and understanding that it’s highly unlikely the industry is going to be shut down, this could be a great opportunity for investors to really get more bang for their buck. It’s going to come down to risk tolerance levels.”

More cannabis industry leaders react:


MARCO HEGYI, CEO of Growlife Inc:

“GrowLife is a public company that sells supplies and equipment for indoor cultivation where its customers range from food to legal Cannabis farmers.  We intend to stand by our customers, the US States and their governors who have used the election process to put a compliant process that helps and protects its citizens.  As the Cannabis industry fully supports these compliance laws, I expect that the White House Administration will also learn to support these laws and the industry, which is diminishing the Black Market for Cannabis and its predatory actions.”

JANE WEST, CEO of Jane West:

“The Department of Justice does not speak for the majority Americans who support legalization and the 29 states where medical or adult-use cannabis is now legal. By rescinding the Cole memo, the old guard is signaling just how terrified they are of this viable and vibrant new industry. This decision does not respect the will of the people, and any money spent prosecuting compliant, state-legal cannabis businesses is money we’re not spending to fight the opiate epidemic. We must continue to support the small businesses, organizations, and industry leaders who are fighting the war on drugs, creating jobs, and generating tax revenue.”

AVIS BULBULYAN, CEO of SIVA Enterprises:

“Earlier last year, there was talk that MJ was going to be held as a bargaining chip against states for negotiation on immigration issues. This could very well be intended as a distraction for the administration to keep people focused on this while a different agenda item is pushed along. Reality is that cannabis has tremendous support across the country regardless of party affiliation, and has a higher approval rating than the administration, really any prior administration and it’s probably going to take a whole lot more than nixing the Cole memo to shut it down.”

GUILLERMO BRAVO, CEO of Foottraffik:

“This is unfortunate for the cannabis industry, especially with the biggest cannabis market California going recreational this week. This is going to reduce investment money, interest, and cut back spending within the cannabis industry as well. The clear goal of the administration is to slow down the progress of the cannabis industry in any form, and this is a clear shot at California, Colorado, Washington, and the entire industry in general.”

JAIME LEWIS, Founder and CEO of Mountain Medicine, Chairwoman of the Board for National Cannabis Industry Association:

“For Jeff Sessions and the current administration, the War on Drugs is not over, but we’re also not done fighting to end it. This policy change does not mean a wholesale dismantling of the regulated markets that now exist in over half of US states. Now more than ever, it is of the utmost importance that we continue to support our colleagues and the organizations that are fighting for a legitimate, regulated marijuana industry and safe, legal access to cannabis medicine.”

LAURA BIANCHI, Director of Cannabis, Business/Corporate Transactions and Estate Planning Departments, Rose Law Group:

“We have always known Jeff Sessions is anti-marijuana and while it is certainly alarming to see him take this position, I see it as having little to no impact at this stage. The 2013 Cole memo provided guidance; however, as I have consistently reminded clients, it is not law, it is not an order and it is not precedent. So while certainly something to keep an eye on, I do not think this is cause for panic. With 29 states and Washington DC having implemented some form of a medical marijuana program, to undo this industry would be like closing Pandora’s Box once it’s been opened. It would be a Herculean effort that would undermine another Republican cornerstone, which is the importance of states’ rights. I advise clients continue to focus on operating their businesses in compliance with the applicable rules and regulations and try to ignore the chaotic, political, and shock-motivated headlines which have unfortunately become the norm.”

JOSE BELEN, Founder and CEO of Mission Zero:

“Jeff Session’s decision to rescind the Cole memo is abhorrent and will cause massive negative ramifications to veteran community. I say this as a proud combat veteran. Prior to becoming a medical cannabis patient, my 13-year battle with PTSD cost me my job, my home, my financial stability, and very nearly my life. That is why I am one of the six individuals suing the federal government to remove marijuana from its list of Schedule I drugs. My fear is that the hundreds of thousands, if not millions, of veterans like myself will now have to live in fear of federal reprisal. As veterans we do not ask for much from our government. In this case we are simply asking for care from our country that we proudly would have died for.”

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Sessions came into office with the promise of cracking down on cannabis – including medical marijuana – at the federal level.

“The marijuana business has since become a sophisticated, multimillion-dollar industry that helps fund some government programs. Eight states and the District of Columbia have legalized marijuana for recreational use, and California’s sales alone are projected to bring in $1 billion annually in tax revenue within several years,” AP reports.

The Task Force on Crime Reduction and Public Safety, a group of prosecutors and federal law enforcement officials, declined to create new policy recommendations to advance the attorney general’s aggressively anti-marijuana views in 2016. The group’s report largely reiterated the Justice Department’s standing policy on marijuana.

California and Oregon submitted reports on the results of legal cannabis in their states to Sessions’ task force in 2017. Both reported positive effects on public safety and local economies.

In December, Sessions cited the American Medical Association policy when responding to a Department of Justice intern question about the risks of legal cannabis.
Cashinbis wrote the AMA and received their most up-to-date policies on cannabis. A document from the American Medical Association House of Delegates shows that these policies have changed slightly since September 2016, when the organization resolved to scratch that the “sale of cannabis should not be legalized.”

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Year to Watch: Six Exciting Areas For Cannabis Industry Development in 2018 https://cashinbis.com/year-watch-six-exciting-areas-cannabis-industry-development-2018/ https://cashinbis.com/year-watch-six-exciting-areas-cannabis-industry-development-2018/#comments Sat, 30 Dec 2017 20:05:52 +0000 https://cashinbis.com/?p=9500 Year to Watch: Six Exciting Areas For Cannabis Industry Development in 2018

The cannabis industry is a catalyst for innovation. Industry leaders keep the cannabis space on the cutting edge as companies encourage new developments in...

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Year to Watch: Six Exciting Areas For Cannabis Industry Development in 2018

The cannabis industry is a catalyst for innovation. Industry leaders keep the cannabis space on the cutting edge as companies encourage new developments in biotechnology, marketing, consumer goods and more.

Here are the areas to watch for cannabis industry developments in 2018.

1. Outside industries

Industries outside the cannabis space are taking notice of opportunities to edge in – a huge talking point from MJBizCon 2017, where speaker Jeanne Sullivan told attendees “These companies are not going to miss out,” referring to the 2017 industry entrances of Scotts Miracle-Gro, liquor distributor Constellation Brands and Netflix.

Beer and alcohol industry – American-based Constellation Brands, the firm behind major beer brands Corona and Modelo, purchased a 10 percent stake in Canadian cannabis giant Canopy Growth Corporation.

At a National Beer Wholesalers Association meeting, Heineken USA CEO Ronald den Elzen mentioned the potential for cannabis to compete with the beer market, saying “Wine and spirits are not sitting still and marijuana is being legalized in many states across the country. We have to act now and we have to do it together.”

Packaging industry At the 2017 PACK EXPO, Presto Products Co.’s Todd Meussling said “Whether it’s medical or adult use – one statistic I came across that’s very interesting is that by 2020, the cannabis industry will be at approximately $17 billion. To put that in perspective for packagers, the natural cheese market right now is at about $12 billion.

“So there’s — outside of medical — 20,000 commercial uses for cannabis. When you look at it from a packaging standpoint, every one of those products is going to have an application.”

Renewable energy industry – Renewable energy companies are beginning to address the challenges cannabis growers and manufacturers face – as well as opportunities in the hemp industry. “We can go green while growing green,” said Devin Cooley, SunTrac president and COO. Tempe, Arizona-based SunTrac is solar-powered thermal hybrid air conditioning system that uses 30-40 percent less electricity to drop operating costs and keep space cool.

2. Big Data & POS Software

Software companies realized the need for specialized POS software for the cannabis industry in order to maintain compliance with state regulations. Now the race is on to create the most all-encompassing software that dispensaries, growers and manufacturers can use to automate seed-to-sale rules that require careful tracking of all cannabis products.

One such company, Los Angeles-based Pyrotree Inc, provides an all-in-one service called WebJoint that operators can use to generate data on point of sale, inventory, distribution and more for required reporting to government agencies. In 2017 WebJoint announced closing a $1.5 million funding round.

Data scientists have realized the potential to collect priceless big data from the cannabis industry, which will allow companies and marketers to understand their consumers and cater to their needs better than ever before. Data companies can also help growers and manufacturers improve and maintain their systems.

A new data company, Data 420, is “owned by the industry,” with 43 companies collecting data on the industry since November. “We’re not a company – we’re a movement. We want to help and to do that, we need data,” said founder Dave Hwang.

3. Banking

Banking challenges remain an important hurdle for cannabis companies and dispensaries, who are still cash-only in many states. Banks will often refuse to open accounts or close existing accounts, fearing federal backlash.

While many are skeptical about cryptocurrency, it’s popularly touted as a potential answer to the banking problem. Some dispensaries are using BitCoin through services like POSaBIT kiosks, where a customer can use their credit card to buy Bitcoin and redeem it in the store.

“Potcoin, which advertises itself as a secure solution for the cannabis industry’s banking problem, has resorted to publicity stunts — like sending Dennis Rodman to North Korea — to drum up enthusiasm for the currency, though it’s worth noting that the coin gained 11.99% since Tuesday to hit $0.33,” Business Insider reported.

California treasurer John Chiang proposed creating a state bank that can deposit cannabis businesses’ tax money for them, but business owners would still need to find solutions for other payments.

4. Marketing

The cannabis industry presents unique challenges to marketers, as the federal Schedule 1 classification prevents mainstream advertising of cannabis.

There will be more cannabis TV advertising to come in 2018. Through January, commercials for CBD oil and cannabis-based wellness supplements are running on over 40 network channels, in 24 countries. It’s the first time Time Warner Cable has approved cannabis product ads to appear on its channels.

In 2017 marketing companies focused on re-branding the cannabis industry, stepping away from pot leaf bikini imagery in favor of sleek, clean design that demonstrates the industry’s futuristic outlook.

Inspired by the young women of Instagram, Jane West designed cannabis products to look familiar, like makeup compacts. “The objects we use on a daily basis, in part, define who we are. I couldn’t find anything that represented me. I’m a daily cannabis smoker and we want to have a more sophisticated experience on a daily basis,” West said of her product design.

Guillermo Bravo, CEO of dispensary marketing company Foottraffik, said “When designing products and apparel, we need to grow up. A great example is the PAX Era vape pen; it’s small, sexy, discreet and efficient. It’s moving the industry forward and normalizing cannabis to be part of everyday life.”

 

5. Biotechnology

Biotech developments for cannabinoid medicines in 2017 included new drug delivery innovations and foundational research.

Oral cannabinoid sleep disorder medicines that dissolve in patients’ cheeks are being developed by CURE Pharmaceutical and Therapix Biosciences. AXIM® Biotechnologies, Inc. is developing cannabidiol (CBD)-based chewing gum.

Another new cannabinoid medicine can be successfully administered via a topical gel lens into the eye.

InMed CEO CEO Eric Adams said “GW Pharmaceutical, one of the leaders in the cannabis biotech industry, has one drug approved and they’re on the cusp of their second approved for various types of epilepsy. Zynerba has multiple Phase 2 trials either completed or underway. There’s a lot of headway being made and it’s an exciting space to be in right now.”

In 2018, biotech companies will complete trials that could inspire agencies like the FDA and AMA to review their policies on cannabis.

6. Consumer goods

Anticipating a booming recreational market in 2018, cannabis businesses are developing quick-selling consumer goods for a larger market. Cannabis products centered around lifestyle and wellness will continue to appear.

Alex Mountjoy, CEO of cannabis-infused Mountjoy Sparkling Water, said “Given what we’ve seen, there’s a strong rationale underlying cannabis as a healthy lifestyle product that is indisputable, but it might take a while to realize its full potential. Cannabis consumer goods should be available as interstate commerce.”

New cannabis-based cosmetic products are also anticipated. “Beyond the pharmaceutical market, we have the cosmetic market where it can be used in skin products, in hair products, in skin ointment,” said Kirsten Velasco, director of Illinois Women in Cannabis.

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Cannabis Industry Bowling Tournament Gifts CannaKids Patient CBD Oils This Christmas https://cashinbis.com/cannabis-industry-bowling-tournament-cannakids-christmas/ https://cashinbis.com/cannabis-industry-bowling-tournament-cannakids-christmas/#respond Sun, 24 Dec 2017 15:45:04 +0000 https://cashinbis.com/?p=9483 Cannabis Industry Bowling Tournament Gifts CannaKids Patient CBD Oils This Christmas

A California cannabis industry bowling tournament funded one patient’s CBD oil this Christmas. The Big Lebongski Bowling Tournament series bowlers earned $4.20 a strike for cannabis charities on...

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Cannabis Industry Bowling Tournament Gifts CannaKids Patient CBD Oils This Christmas

A California cannabis industry bowling tournament funded one patient’s CBD oil this Christmas.

The Big Lebongski Bowling Tournament series bowlers earned $4.20 a strike for cannabis charities on December 17 at Bowlero Mar Vista in Los Angeles. Eighteen cannabis industry bowlers competed in the Supreme Organics sponsored event, earning $249.90 for charities CannaKids and Marine Qweens.

Tracy Ryan, CEO of Cannakids, said “This is amazing! Thanks so much guys! 100% of this money will be donated to a patient in need as a Christmas gift so they have money for their oils!” Supreme Organics will be donating the money to CannaKids.

California-based charity CannaKids supplies CBD oil to adults and kids, specializing in pediatric cancer, autism and epilepsy. “We are so appreciative to this incredible organization for their generosity towards our patients,” said Ryan. “So many families suffer extreme financial hardships when their child is stricken with disease, and it’s events like this that allow us to continue to provide free medicine to those in need.”

Marine Qweenz is an organization whose mission is to educate, empower, and inspire those suffering from the residuals of serving in the military.

The  winning team Edibles List Magazine claimed The Little Lebongski bowling trophy plus each team member scored a nifty bowling pin pipe. The next tournament takes place  January 27, 2018 at Bowlero Woodland Hills.

The victorious squad is also invited to The Big Lebongski Tournament of Champions on April 22 in Burbank, California – where the grand championship team gets to take home The Big Lebongski trophy.

Before the final tournament this spring, the bowling league has a mystery to solve. The Big Lebongski Touring Bowling Tournament series trophy was stolen last week, in a scenario eerily similar to the rug heist in The Big Lebowski.  A police report was filed with the Mission Hills California police department.

A reward is being offered for the trophy. Michael Hurt, CEO of tournament sponsor Supreme Organics, said “We will give anyone who provides information that leads to the safe return of the relic a year-long supply of Supreme Organics products — as long, of course, the individual possesses a valid California doctor’s recommendation.”

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Cannabis growers can take a shine to hybrid solar energy with SunTrac https://cashinbis.com/cannabis-growers-solar-power-panels-renewable-energy-suntrac/ https://cashinbis.com/cannabis-growers-solar-power-panels-renewable-energy-suntrac/#respond Sat, 23 Dec 2017 15:23:50 +0000 https://cashinbis.com/?p=9477 Cannabis growers can take a shine to hybrid solar energy with SunTrac

Devin Cooley sees a lot of innovation in the cannabis industry, and wants to take on HVAC solutions for cannabis grow operations with solar...

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Cannabis growers can take a shine to hybrid solar energy with SunTrac

Devin Cooley sees a lot of innovation in the cannabis industry, and wants to take on HVAC solutions for cannabis grow operations with solar energy panels.

“We can go green while growing green,” said Cooley, SunTrac president and COO. Tempe, Arizona-based SunTrac is solar-powered thermal hybrid air conditioning system that uses 30-40 percent less electricity to drop operating costs and keep space cool.

In the last year, industry regulators and consultants have called for cannabis growers to use sustainable practices.

Grow operations have a long road ahead of them when it comes to compliance and moving out of the black market to adapt to regulations, especially in California. On Dec. 22, California held a state briefing on environmental rules that await growers entering California’s legal market in January.

California’s agriculture department received fewer than 200 applications from growers in December, and has accepted four. “In Humboldt County, where an estimated 15,000 pot farmers grow illicitly . . . only 2,300 have applied for the required local growing permits,” according to the Associated Press.

HVAC, dehumidification and ventilation makes up 50 percent of a grow’s electricity load, and lighting accounts for 33 percent, according to Solar Power World.

Cooley said growers and cultivators can use high-efficiency SunTrac panels to offset cooling costs. With federal legalization of cannabis grows, hybrid products like SunTrac would become eligible for federal income tax credits of up to 30 percent.

Cooley talked about the basics of solar power panels and how they integrate with existing systems.

Devin Cooley, president/COO of SunTrac

How can growers integrate renewable energy?

Indoor growers in Nevada and southern California use air conditioning, and we can help manage the indoor cultivation.

Growers are focused on lighting, so it’s an unsatisfied part of the industry. No one is helping to be creative or sustainable with HVAC, even though they are innovative in everything else they’re doing.

Is the energy consistent, even when it’s not sunny?

Integrated systems don’t change the way [the air conditioner] operates. Even if it’s cloudy for a week, there’s no concern for it being detrimental to the grower.

How does the SunTrac panel work?

An air conditioner has a compressor, you squeeze the gas to change the temperature. With SunTrac you can increase the pressure and temperature through the sun and not the motor, because there’s a solar booster for the compressor.

The air conditioner will use less energy and it offsets the need for generating electricity – like a car going 75 mph in fifth gear, but we use less gas to get to the speed.

How can growers get set up with SunTrac panels?

Installation costs between $6,000 to $8,000. The upgrade pays for itself in three years or less. With old air conditioners, they die. But with SunTrac, there’s the opportunity to break even.

We integrate with every standard air conditioning system. We’re brand agnostic to get set up and integrate our product. We’ll upgrade existing systems, and maintenance is easy – there are no heavy requirements.

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Christmas-themed Commercials for CBD Oil and Cannabis Products Are Running On Over 40 Network TV Channels https://cashinbis.com/christmas-cannabis-product-commercials-palmetto-harmony-network-tv/ https://cashinbis.com/christmas-cannabis-product-commercials-palmetto-harmony-network-tv/#respond Thu, 21 Dec 2017 22:01:53 +0000 https://cashinbis.com/?p=9470 Christmas-themed Commercials for CBD Oil and Cannabis Products Are Running On Over 40 Network TV Channels

Between Christmas movie reruns, TV viewers might see a commercial for this new stocking stuffer: a cannabis product sampler pack. Christmas-themed commercials for CBD oil...

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Christmas-themed Commercials for CBD Oil and Cannabis Products Are Running On Over 40 Network TV Channels

Between Christmas movie reruns, TV viewers might see a commercial for this new stocking stuffer: a cannabis product sampler pack.

Christmas-themed commercials for CBD oil and cannabis-based wellness supplements are now running on over 40 network channels, in 24 countries.

Major networks airing the commercials for Palmetto Harmony products from Dec. 18 through Jan. 14 include Fox News, Fox Business, Bloomberg, MSNBC, CNBC, Headline News CNN, Weather Channel, HGTV, Hallmark, DIY, Food Network, Travel Channel and more.

It’s the first time Time Warner Cable has approved cannabis product ads to appear on its channels.

“This holiday season, fill your loved ones’ stockings with our sample pack of all natural, organically grown wellness products,” the ad’s voiceover says. While the ad doesn’t mention cannabis specifically, it depicts Palmetto Harmony’s line of hemp and cannabinoid vape oils and topical creams.

 

Christmas Ver 2 from DCP Media Production LLC on Vimeo.

In November, South Carolina-based Palmetto Harmony pushed cannabis advertising forward by running the first commercial for cannabis-based products to appear on nationally syndicated networks. The commercial  aired on 12 national networks including CBS, ABC, NBC, Oxygen, Lifetime Movies, and BBC-America.

Palmetto Harmony offers a range of CBD oil and cannabis-based products, which the commercial promotes as wellness products. The original commercial, which aired in 71 different cities, contains no specific mention of CBD oil or cannabis.

Janel Ralph, CEO of Palmetto Harmony, said the response to the original commercial was “crazy, with a lot of positive feedback.”

As competition heats up with legalization, U.S. cannabis businesses must determine how to stand out while advertising is still legally restricted in TV, radio, print, email marketing, and direct mailers.

“We had to be very careful in how we presented the products,” Ralph said. “Just like with the rules for pharmaceutical ads, there were certain things we couldn’t say and we had to be conservative.”

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The Big Lebongski Heist: Cannabis Industry Bowling League Trophy Stolen https://cashinbis.com/big-lebongski-heist-cannabis-industry-bowling-league-trophy-stolen/ https://cashinbis.com/big-lebongski-heist-cannabis-industry-bowling-league-trophy-stolen/#respond Sat, 16 Dec 2017 18:08:37 +0000 https://cashinbis.com/?p=9424 The Big Lebongski Heist: Cannabis Industry Bowling League Trophy Stolen

A California cannabis industry bowling tournament will earn $4.20 a strike for cannabis charities this weekend. But their trophy was stolen. The Big Lebongski...

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The Big Lebongski Heist: Cannabis Industry Bowling League Trophy Stolen

A California cannabis industry bowling tournament will earn $4.20 a strike for cannabis charities this weekend. But their trophy was stolen.

The Big Lebongski Touring Bowling Tournament series trophy was stolen, in a scenario eerily similar to the rug heist in The Big Lebowski.  A police report was filed with the Mission Hills California police department.

The California-touring The Big Lebongski Bowling Tournament series, presented by Supreme Organics, takes place 9 p.m. December 17 at Bowlero Mar Vista in Los Angeles. Bowlers will have the opportunity to raise money for CannaKids and Marine Qweens, earning $4.20 a strike and half as much for a spare.

 The trophy was stolen from the trunk of a vehicle under the cloak of night. Gary “Spacey” Lane, tournament commissioner, said “It’s a terrible feeling to find one’s car ransacked. But when I discovered that The Big Lebongski was swiped, it was like experiencing an ultimate buzz kill.”

A reward is being offered for the trophy. Michael Hurt, CEO of tournament sponsor Supreme Organics, said “We will give anyone who provides information that leads to the safe return of the relic a year-long supply of Supreme Organics products — as long, of course, the individual possesses a valid California doctor’s recommendation.

“Considering that its coolness factor is off the charts, it’s highly likely that The Big Lebongski will turn up at someone’s toking table somewhere sometime soon.  The good news  – at least we haven’t received a bloodied, severed pinky toe with a ransom note,” Hurt said.

Anyone who has information can contact the company via Instagram: @supremeorganics.   

The trophy designer, Jim Embrescia (left) and Gary Lane (right) with The Big Lebongski trophy.

The Big Lebongski was crafted by Jim Embescia from Los Angeles Glassblowing.  The trophy/bong is a see-through, glass-blown, bowling pin replica standing 15 inches tall and weighing approximately sixteen pounds.

The Big Lebongski trophy is envied as much as The Stanley Cup, Lane said. In year two, it was won by a team called Girl Scout OGs, after a popular strain.

This is year three for the cannabis industry bowling leagues and the first for The Big Lebongski Tournament. It’s also the first time they’ve bowled for charity.

California-based charity CannaKids supplies CBD oil to adults and kids, specializing in pediatric cancer, autism and epilepsy. “We are so appreciative to this incredible organization for their generosity towards our patients,” said Tracy Ryan, CannaKids CEO. “So many families suffer extreme financial hardships when their child is stricken with disease, and it’s events like this that allow us to continue to provide free medicine to those in need.”

Marine Qweenz is an organization whose mission is to educate, empower, and inspire those suffering from the residuals of serving in the military. In November, Marine Qweenz held a cannabis veterans ball.

The upcoming tournament’s winning team will claim The Little Lebongski bowling trophy plus each team member scores a nifty bowling pin pipe. The victorious squad is also invited to The Big Lebongski Tournament of Champions on April 22 in Burbank, California – where the grand championship team gets to take home The Big Lebongski trophy.

We will be giving away The Little Lebongski trophy tomorrow night, as well as for other local tournaments.  The Big Lebongski doesn’t get awarded until the 4/20 weekend in 2018 so we do have some time to find it.  If it doesn’t turn up by then, we may have to commission another to be made,” Lane said.

Current Tournament of Champions invitees include local champions from Burbank (420pros.com), San Diego (The Biff Spliffs), San Francisco (Top Shelf Express Delivery), Sacramento (Pure Life Collective) and Orange County (Green Goddess Collective).

 

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Mountjoy Sparkling Water: Modeling Consumer Goods Cannabis Products Off National Brands https://cashinbis.com/mountjoy-sparkling-water-modeling-cannabis-infused-consumer-goods-off-national-brands/ https://cashinbis.com/mountjoy-sparkling-water-modeling-cannabis-infused-consumer-goods-off-national-brands/#respond Fri, 15 Dec 2017 19:55:51 +0000 https://cashinbis.com/?p=9417 Mountjoy Sparkling Water: Modeling Consumer Goods Cannabis Products Off National Brands

The cannabis industry is converging with standard consumer goods – that’s the premise behind cannabis-infused Mountjoy Sparkling Water.  CEO Alex Mountjoy said in an...

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Mountjoy Sparkling Water: Modeling Consumer Goods Cannabis Products Off National Brands

The cannabis industry is converging with standard consumer goods – that’s the premise behind cannabis-infused Mountjoy Sparkling Water.  CEO Alex Mountjoy said in an industry that is producing increasingly familiar products, his brand aims to produce high quality consumer goods at the level of national brands.

“I’ve been in consumer goods for 22 years and always wanted to start a national beverage brand,” said Mountjoy, who was inspired by a friend who helped design the Monster can.

Mountjoy’s brand taps into a U.S. obsession with wellness – the cannabis product’s imagery suggests that Mountjoy Sparkling Water could seamlessly fit in with the Instagram crowd, with bottles being carried into yoga studios and sipped at parties.

Mountjoy shared the story of Mountjoy Sparkling Water’s brand development with Cashinbis.

What do you see in the future for cannabis industry consumer goods?

Given what we’ve seen, there’s a strong rationale underlying cannabis as a healthy lifestyle product that is indisputable, but it might take a while to realize its full potential. Cannabis consumer goods should be available as interstate commerce. I want to see Mountjoy Sparkling Water in the nation’s fridge.

Rather than defining new ways to reach consumers, it’s largely about trying to be the best we can be in an industry that’s becoming increasingly familiar in the way consumers interact with brands. We’re getting away from the iconic pot leaf and there’s little tolerance for crude, rustic themes. Anything with low level marketing or design is on the way out.

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How do you see cannabis infused sparkling water fitting into consumer lifestyles?

Sparkling water has characteristics that make it a pick-me-up – it refreshes the spirit. It’s a healthy product that can accelerate the absorption of pills in your system. I thought: Can I create an ultra fast-acting THC buzz with sparkling water? My family has been making sparkling water for many years. We had the know-how and the brand. We have origins in a tabletop family product, and this is the first cannabis product that deserves a place in every fridge in the country.

It blurs the line. It satisfies basic human needs, physical and psychological. Yes, it’s fun and recreational, but it’s also healthy and treats you well. It’s sugar-free, balancing, and a source of energy.

People can buy it in traditional medical marijuana outlets. Because it’s so accessible, people use it for pain relief in combination with other products, to ease anxiety, and all the standard medical marijuana uses.

Why are you marketing Mountjoy Sparkling Water as an alternative to alcoholic beverages?

It doesn’t bring out bad qualities in a person the way alcohol does. It’s the perfect alternative because we don’t drink just to get drunk, we drink for the social experience. Most of us have a love-hate relationship with alcohol. It feels good but can lead to a lifelong struggle. We don’t want to change our social routine. Mountjoy Sparkling is the perfect way to fit the routine and our cultural experience, with no conscious modification of existing behavior.

What inspired the recent redesign of your products?

With our experience in consumer goods, we wanted a photogenic bottle that people would take photos of and it would look great. For the elements in the label, the flavors are all expressed in the design. Rather than put an orange on the label, we put a design that is symbolic of an orange without using an orange. There’s a tendency with sparkling water brands to show spray, bubbles or water droplets. We wanted to convey that experience, but not literally.

What’s coming up for your brand in 2018?

We just signed a major distribution agreement for mainstream beverage in “Texas West” – in the first half of 2018, consumers will be able to buy our THC- and CBD-infused products in that part of the country.

We’re releasing a couple new flavors and a CBD-only version, available in early 2018. They will be available in grocery stores and liquor stores – you’ll start to see it in California and Texas markets.

The CBD version is not psychoactive, and there is no taste difference [to the THC version.]

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