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A former Liberal cabinet minister who recently chaired a panel guiding Ottawa’s push to legalize cannabis says police everywhere should enforce the existing prohibition of marijuana, despite several communities in British Columbia choosing to regulate – not raid – illegal pot shops.

Anne McLellan, head of an official task force that submitted recommendations to Ottawa on how best to legalize cannabis, said Thursday that Vancouver crafted Canada’s first municipal marijuana bylaw in response to what was a “growing difficult situation for them.”

But the former minister of public safety, health and justice in the Liberal governments of Jean Chrétien and Paul Martin said other cities should not follow suit before the current laws change, echoing what the federal government has repeatedly said when asked about the rise of illegal dispensaries.

“Nobody would deny that there are some practical problems at street level, absolutely, nobody denies that,” said Ms. McLellan, who was in Vancouver speaking at Simon Fraser University’s downtown campus on the work the task force did last year.

“Cities should wait until the law changes instead of making their own rules now and hoping to adapt them to a federal framework later on,” she said. “I cannot advocate that anybody break existing laws. We are a nation of law-abiding citizens.”

Ottawa is expected to table legislation this spring that will legalize and regulate recreational marijuana over the next two years. While the stores are still illegal under federal law, they have proliferated in cities such as Vancouver and Victoria, where local politicians argue their rules can eventually be adapted to any national framework regulating the storefront sale of the drug.

All dispensaries and compassion clubs across Canada still operate outside the federal government’s medical-marijuana program, which permits about 30 industrial-scale growers to sell dried flowers and bottles of cannabis oil directly to patients through the mail.

The federal government has said its two core priorities behind legalizing the recreational sale of marijuana are: to keep the drug out of the hands of young people and to stop the flow of money to organized criminals involved in the production and sale of the drug on the black market.

Vancouver’s approach to regulating its dispensaries stands in stark contrast to Toronto’s, where police and politicians say a continuing crackdown has become more urgent as these pot shops have become a magnet for violent thieves because some owners are reluctant to report robberies.

Civic and provincial politicians across the country are waiting on the coming legalization bill to give some guidance as to where the drug may be sold once it is legalized.

Vancouver councillor Kerry Jang, architect of the local dispensary bylaw, said he was disappointed in Ms. McLellan and Ottawa’s rhetoric, noting they both appear to be eschewing the public-health approach of his city, and that of other communities in B.C. also licensing these illegal stores.

“It’s sort of like we’re in purgatory,” he said Thursday. “And when you’re in purgatory, it’s not about allocating our resources, it’s about advocating what’s right for our citizens – that’s what Vancouver has done.”

He said he wants Ms. McLellan to push federal ministers to implement the new legislation faster because local governments across the country are wasting millions of dollars containing the grey cannabis market.

“When it comes to resources, the federal government better provide good resources for us to help enforce and help manage what they want us to do,” said Mr. Jang, a clinical psychiatrist. “Otherwise, we’re going to be back to square one.”

The Union of B.C. Municipalities has long advocated that cities deserve to receive some of the eventual tax revenue from recreational cannabis sales if they are expected to enforce federal cannabis laws.

The federal Liberals have said any pot proceeds would be directed to addiction treatment, mental-health support and education programs, and that provinces and territories will also have a significant say in how cannabis revenues are spent. A recent study from the parliamentary budget watchdog predicted that about 60 per cent of marijuana taxation will flow to the provinces.

Ms. McLellan, now in the public-policy division of Bennett Jones, one of the Canada’s leading law firms operating in the cannabis sector, said different communities have different concerns about the drug, as evidenced by Toronto and Vancouver’s contrasting approach to dealing with illegal dispensaries.

Original article by: MIKE HAGER, VANCOUVER — The Globe and Mail. Published Thursday, Mar. 23, 2017 10:04PM EDT

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COSTA MESA, CA--(Marketwired - Mar 22, 2017) - NEMUS Bioscience, Inc. (OTCQB : NMUS ) and the company's discovery and research partner, the University of Mississippi (UM), today announced that bactericidal synergy was achieved against multiple species of methicillin-resistant Staphylococcus aureus (MRSA) utilizing a proprietary cannabinoid-based therapeutic platform. MRSA species tested included community acquired- (CA-MRSA), healthcare-acquired- (HA-MRSA), and mupirocin-resistant (MR-MRSA) strains of MRSA. 

In vitro studies demonstrated that when using unique strategic cannabinoid-based cocktails, fractional-inhibitory concentration (FIC) levels demonstrating synergy between mixtures of individual cannabinoid-based components ranged from 0.06 to 0.28. FIC findings below 0.5 indicate significant killing potential of the mixture.

"This work highlights the importance of Nemus' relationship with the University which has significant experience and intellectual capital related to cannabinoid chemistry and physiology, dating back to 1968," stated Brian Murphy, M.D., C.E.O. and Chief Medical Officer of Nemus. "These unique botanically derived components establish an anti-infective platform which could potentially be expanded into other types of bacteria, as well as viruses, and fungi."

Dr. Mahmoud ElSohly, professor at the National Center for Natural Products Research (NCNPR) at the University of Mississippi commented: "The University, in conjunction with Nemus, is looking to expand the anti-infective capabilities of this series of compounds. Historically, many types of anti-infective compounds are derived from plants so to have a series of cannabinoid-related compounds exhibit activity against this dangerous pathogen is in keeping with prior efforts of drug development. I believe that these compounds, in addition to the bacterial killing capability, could also offer benefits associated with anti-inflammatory and anti-fibrotic properties that could enhance healing, especially against an organism associated with skin and soft tissue infections."

"This anti-infective platform will constitute the NB3000 series of Nemus molecules and formulations. Recently, the World Health Organization (WHO) placed MRSA on their list as one of the top six organisms that pose a global public health threat. While there are a number of compounds in the development pipeline against MRSA, we believe that this family of drug candidates could possess an excellent safety profile in addition to efficacy in neutralizing this bacterium," stated Dr. Murphy. "Nemus will work with Dr. Elsohly, the University lead researcher on this project, to have this data submitted to a future scientific meeting and anticipates performing further testing against a variety of other bacterial species. Commercially, the company looks to actively pursue partnering opportunities for these candidate molecules."

FORWARD LOOKING STATEMENT

This press release contains forward-looking statements, including statements about the studies relating to and the potential benefits of the NB3000 series of drug candidates as well as the timing of our near term, intermediate term and long term goals. Such statements and other statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. In some cases, forward-looking statements can be identified by terminology including "goal," "focus," "aims," "expects," "plans," "believes," "can," "could," "challenge," "predictable," "will," or the negative of these terms or other comparable terminology. We operate in a rapidly changing environment and new risks emerge from time to time. As a result, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. Risks and uncertainties that may cause actual results to differ materially include, among others, our capital resources, uncertainty regarding the results of future testing and development efforts and other risks that are described in the Risk Factors section of NEMUS's most recent annual or quarterly report filed with the Securities and Exchange Commission. Except as expressly required by law, NEMUS disclaims any intent or obligation to update these forward-looking statements.

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Invest In MJ News (#IMJ) Update for March 15 2017

As we mentioned a few days ago, we are in a healthy correction in the Cannabis sector for stock price and valuations.  In Canada, the valuations of the licensed producers have gotten way ahead of itself over the last few months; they should start to build a base during the summer before moving higher going into fall and winter of 2018.

Looks like the sector will move sideways for some time, this creates a good trading opportunity, new entry points for new positions or adding to existing positions.  Sign up for our newsletter to get more ideas on investing and trading the MJ Stocks.

One of the companies we provide coverage on is Emblem Cannabis, the chart below is some initial technical analysis we provide as part of our research.  You can view price charts and company info on Emblem from our company directory.  Our latest news letter provides more details on Emblem, investment and trading strategies. 

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Our company directory listing provides detailed information on various publicly traded companies including price charts.  You are welcome to use the charting tool and perform your own technical analysis to the price action of the company’s stock. 

Latest Company Financing News:

Organigram Announces Issuance of Stock Options

MONCTON, NEW BRUNSWICK--(Marketwired - March 14, 2017) - Organigram Holdings Inc. (TSX VENTURE:OGI)(OTCQB:OGRMF) ("Organigram" or the "Company") announces that it has issued an aggregate of 1,500,000 incentive stock options to Greg Engel, a director of the Company and the Company's Chief Executive Officer, at an exercise price of $2.36 per share. View Company Directory Listing on #IMJ

Kitrinor Metals Inc. and Scythian Biosciences Inc. Announce Closing of Subscription Receipt Financing of $13,085,000 With Strategic Lead Investment From Aphria Inc.
Scythian Biosciences Inc. is developing a proprietary Cannabinoid combination therapy for the prevention and treatment of concussions and traumatic brain injury

TORONTO, ONTARIO--(Marketwired - March 14, 2017) - NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Further to the press release dated February 21, 2017, Kitrinor Metals Inc. (TSX VENTURE:KIT) (the "Company") and Scythian Biosciences Inc. ("Scythian"), a company incorporated under the federal laws of Canada, are pleased to announce that Scythian completed an initial tranche of a brokered private placement offering of subscription receipts ("Subscription Receipts") led by Clarus Securities Inc. (the "Lead Agent"), together with Haywood Securities Inc. and Canaccord Genuity Corp. (collectively, the "Agents"), for gross proceeds of C$13,085,000 (the "Offering"). 

GrowGeneration Secures $1,650,000 in Capital From Merida Capital Partners to Continue to Fuel Growth
DENVER, CO--(Marketwired - March 14, 2017) - GrowGeneration Corp. (OTCQB: GRWG)

METATRON (OTC PINK: MRNJ) Announces $1,000,000 Reg A Capital Raise to fund Cannabis & Vaporize, a Secure Chat App
DOVER, DE--(Marketwired - Mar 14, 2017)

 

 

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As investors flock to Canada’s burgeoning marijuana sector, Prime Minister Justin Trudeau’s government is signaling recreational pot sales aren’t imminent.

Lawmaker Bill Blair -- the former Toronto police chief leading Trudeau’s legalization effort -- confirmed a bill is due in parliament this spring, but it won’t be the last hurdle as ample regulatory work remains. The federal government will take its time and work with provinces, territories and cities to build a framework and develop specific regulations, he said.

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The government is also looking for ways to control production, distribution and consumption of legalized marijuana, while testing it for quality and keeping it out of the hands of minors, Mr. Blair said.

“We will take as much time as it takes to do it right,” Mr. Blair, the parliamentary secretary to Canada’s justice minister, said in an interview Monday. “I’m pretty reluctant to suggest a specific time frame, frankly, because I don’t know how long this will take in each of our 10 provinces and three territories.”

Mr. Blair’s comments come as Canada’s nascent marijuana industry balloons, with investor optimism being fueled by analyst estimates that recreational sales could start as early as 2018.

The government’s plan to introduce legislation in the spring of 2017 “could pave the way for the legal sale of recreational cannabis by 2018,” Canaccord Genuity analysts Matt Bottomley and Neil Maruoka said in a November research note. Canada’s recreational pot industry has the potential to reach $6-billion in sales by 2021 if legalization occurs along “expected timelines,” according to the note.

Canopy Growth Corp. became the first marijuana unicorn in 2016 and had a valuation of $1.9-billion on Monday. Other producers, including Aurora Cannabis Inc. and Aphria Inc.Inc., have seen their share prices surge more than 400 per cent in the past 12 months.

Canopy shares fell as much as 7.5 per cent in Toronto while Aurora tumbled 5.1 per cent and Aphria slid 3 per cent.

Dampened Buzz

“If they delay, there’s going to be a lot of eggs that are going to break in this business,” Chris Damas, an analyst at BCMI Research in Barrie, Ont., said by phone Monday. “The valuations are extreme.”

Licensed marijuana producers are in the midst of expanding their capacity and there will be a “huge amount” of excess cannabis if Canada delays legalization, Damas said. The analyst said Mr. Blair’s previous comments suggest it’s unlikely the government will introduce a bill by June and companies with huge valuations “won’t have any serious business” if the recreational market takes longer to come to fruition.

“There could be a lot of disappointment,” he said.

In a separate interview Monday with the Canadian Broadcasting Corp., Mr. Blair said the government was going to design a legalized marijuana system that included measurement and testing of products, as well as enforcement. While the proposed legislation is due this spring, “it’s not sufficient to simply come forward with a bill,” he said.

The government may also explore ways to direct revenue from marijuana sales to funding additional drug treatment, including for fentanyl as Canada grapples with an opioid crisis, he added.

Since taking a position on legalization ahead of the 2015 election, Trudeau has gradually turned toward emphasizing safety, saying regularly it shouldn’t be easier for youth to buy marijuana than to buy beer. Putting the file in the hands of a prominent law-enforcement veteran is another signal the government is approaching legalization with an eye to tight regulation.

Blair declined to comment on whether the regulations could be finalized by 2018 -- an expected election year in Ontario, home to Canopy and other companies -- or 2019, when the next federal election is scheduled.

The Task Force on Cannabis Legalization and Regulation issued a report in December that recommends the Canadian government regulate the production of marijuana while provinces control the distribution and retail sales, including through dedicated storefronts with well-trained staff or by mail.

Original Post: JEN SKERRITT AND JOSH WINGROVE

Bloomberg News, Published Tuesday, Mar. 07, 2017 2:10PM EST

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The Medical Benefit of Cannabidiol

Over the last few years we have seen an explosion of companies marketing, branding and selling CBD based products.   The trend to sell these products in the US will continue to grow as it becomes well know that the Cannabidiol from the cannabis plant does have many medical and health benefits.   Many of the CBD based products are sourced from the Hemp plant which makes it easier to sell in the US as most hemp based products can be sold in the US and do not necessarily require FDA approval for sale if marketed as a health supplement and not a medicine.  

There are a number of companies growing hemp and then extracting CBD oils for use in bi-products that are then marketed as health supplements by other companies.  The supply of CBD has seen tremendous growth over the last few years, the brands and products created and marketed by hundreds of companies  does bring a lot of competition to the market.  As more people become aware of CBD and its benefits, we do believe the sales of CBD based products will continue to grow.   However with more competition these companies will see their profit margins get squeezed and many will fail to bring their products to market.  

There are many companies listed on various stock exchanges that participate in product branding and sales of CBD based products.  While many have gained attention from the investment community, we do have to stress that most of them are using the same components for their products and it will be difficult to differentiate their products from others.  The point is, 90% of these companies do not have anything unique in terms of a product offering and many will fail.  If you are going to invest in companies that market and sell CBD based products, make sure they have a great marketing and branding strategy, have strong distribution partners, a proven management team and are well funded.  

The main purpose of this article is to get a better understanding of CBD and Cannabidiol, the investment opportunities and value of CBD will be discussed in the future.

Below is a basic overview of what CBD and Cannabidiol is and the potential health and medical benefits. The exert and infographic below was provided by Monica Bing from http://cannabisowl.com/

Cannabidiol is a major phytocannabinoid and accounts for about 40% of the marijuana plant’s extract. With quite a broad scope of medical applications, it's use is increasing among all populations and countries and research suggests it to be helpful for seizures, anxiety and other ailments.

CBD exerts its actions through a variety of pathways. This non psychoactive component is considered to have a wide scope of potential therapeutic usage. The exact cause for these effects is not clear. But this miracle herb seems to prevent the breakdown of a chemical in the brain that affects pain, mood, and mental function. 

CBD is consumed in a variety of forms including oil, tinctures, edibles, capsules, lotion and even chewing gum by patients. But CBD oils are becoming popular among chronic pain sufferers. This oil also works against convulsions, anxiety, insomnia, and ulcers.

In fact, this oil is the new hope of a cure for those suffering from terminal illnesses. Recent studies report that medical use of this oil can help people find relief from severe health conditions like cancer and chemotherapy treatment, atopic dermatitis, epilepsy, HIV/AIDS.

This ultimate oil is also gaining ground as a viable treatment option for several childhood illnesses and conditions. For some parents, CBD for kids becomes a last option. For many families, CBD is a miracle molecule that allows their children to live normal lives without hospitalisations, doctor visits, dangerous medications, and being stuck indoors. 

The following infographic outlines the utility of Cannabidiol.

b2ap3_thumbnail_cannabidiol1.png

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