Cannabis Canada: Analysts expect Aphria to boost recreational sales in Q1 results

By BNN Bloomberg

Aphria to report Q1 results early Thursday, analysts expect $159.6M in sales 

Aphria kicks off another period of pot industry quarterly results with its fiscal first-quarter report out early Thursday. Analysts expect the Canadian cannabis producer to report $159.6 million in revenue while booking a net loss of $9.5 million. The company is also expected to report $11.9 million in positive EBITDA. In addition to the top and bottom line expectations, analysts will likely be looking for signs of whether Aphria has been able to expand its market share lead in the still-burgeoning Canadian recreational cannabis market. Canaccord Genuity analyst Matt Bottomley said in a report that he expects Aphria to show about 16 per cent quarterly growth in its recreational cannabis sales while medical revenues stay flat. However, Stifel analyst Andrew Carter notes that Aphria is siginificantly underutilizing its production capacity and that this may “remain a point of controversy” for the company’s stock. ​

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Almost Half of People in the UK are Unaware that Medical Cannabis is Legal

By Emily Ledger

Legalising Medical Cannabis

Cannabis was rescheduled (from schedule 1 to schedule 2 of the Misuse of Drugs Act 1971) in 2018 to allow for the medical application of the drug. This major decision was largely influenced by the high-profile cases of two children who suffer from rare forms of treatment-resistant epilepsy.

The parents of Billy Caldwell and Alfie Dingley had tried a number of registered epilepsy medications with little success until they discovered the positive effects of cannabis-based medications. However, the legality of these drugs in the UK meant that they had to source medications from abroad.

The rescheduling of cannabis allowed for specialist clinicians in the UK to prescribe medical cannabis products. Following this decision, medical cannabis is now legal for the first time in almost 50 years.

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THC in cannabis ‘could help prevent’ deadly complications of coronavirus

By Elisa Menendez

Chemicals in cannabis have shown promising results in the treatment of serious complications caused by Covid-19, researchers have revealed.

Scientists used THC – the main psychoactive compound found in marijuana – on mice suffering with Acute Respiratory Distress Syndrome (ARDS).

The disease is a life-threatening condition when fluid builds up in the lungs, meaning they cannot provide the body with enough vital oxygen.

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More than one-quarter of Portland’s would-be cannabis retailers face disqualification

By PENELOPE OVERTON

More than one-quarter of the applicants seeking a municipal permit to sell cannabis in Portland are facing disqualification for failing to satisfy basic eligibility requirements, such as failing to pay local taxes or fees on time or wanting to operate their shop too close to a school or in a land-use zone that doesn’t allow it.

Portland received 43 retail cannabis license applications, and a preliminary staff review suggests 12 of those will be disqualified before the city even considers how, or if, it will use its legally embattled scoring matrix to decide which applicants will land one of its 20 coveted retail marijuana licenses.

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New Marijuana Coalition Unveils Plan To Legalize Interstate Cannabis Commerce

By Kyle Jaeger

A coalition of advocacy groups and marijuana businesses have unveiled a unique plan to legalize interstate cannabis commerce regardless of ongoing federal prohibition.

The Alliance for Sensible Markets campaign will be pushing governors from legal and likely soon-to-be legal marijuana states to enter into an interstate compact—a constitutionally recognized agreement between two or more states—establishing a framework for cannabis to be transported and marketed across state lines.

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These states are voting on cannabis legalization this November

By Alicia Wallace

San Francisco (CNN Business)In 2016, the US election resulted in a green wave as cannabis legalization measures passed in eight out of nine states.

Now, the industry and its supporters are hoping for another big win in November.

This year, voters in five states will decide whether to adopt either new medical or recreational cannabis laws — or, perhaps, both in the case of one state.

As it stands now, 33 states have legalized medical cannabis, and of those, 11 states have legalized cannabis for adult recreational use.

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Maine approves adult-use cannabis stores in South Portland, Northport

By PENELOPE OVERTON

Maine has announced its first round of fully licensed recreational marijuana businesses, including two retail stores – in South Portland and Northport – that can start selling adult-use cannabis to the public next month.

The retailers, Theory Wellness of Maine in South Portland and Sweet Relief Shop in Northport, are cleared to open on Oct. 9, the opening day for adult-use sales in Maine. In addition, the Office of Marijuana Policy approved Nelson Analytics in Kennebunk as Maine’s first testing lab and grows for Room 5 in Detroit, Gele in South Portland and Grass Roots Marijuana in Auburn.

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Cannabis Markets Outside of North America to Keep an Eye On

By Andrew Ward 

Canada and the U.S. currently generate a majority of the cannabis industry’s revenue. While both countries are significant factors as the market matures, other nations will take up a share as well.

For example, Mexico, New Zealand and several other countries are considering adult use legalization, and could assume their place in the global market.

Several cannabis industry experts told Benzinga that several regions and nations are already ones to keep an eye on when tracking the global marijuana growth.

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5 Questions With Legacy Canadian Cannabis Farmer Marc Geen

By Warren Bobrow

Founded by fourth-generation farmer, Marc Geen, SpeakEasy is built on the same agricultural principles of the family’s farming legacy. They are about to make history cultivating one of the largest outdoor cannabis harvests in Canada this September and expect to harvest 70,000 kg of sun-grown cannabis at a projected $0.04 a gram this fall, with the same methods and climate Canada is world-renowned for. 

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