The Week In Cannabis: Strong Earnings, Stocks In Green, Investments And Divestments – Benzinga

Cannabis stocks, and overall markets, closed the week in the green, as cannabis companies got into their earnings season.

“Earnings season is just starting to come to life as Scotts Miracle Gro (NYSE: SMG)’s Hawthorne group just crushed it,” Debra Borchardt, Editor-In-Chief of Green Market Report told Benzinga. “Things are going so well over at Scotts that even the non-bonus employees received bonuses. How rare is that in this pandemic economy and how nice of a company to share the wealth with everyone.”

Also reporting earnings this week was Aphria Inc. (TSX: APHA) (NASDAQ: APHA), which achieved its fifth consecutive quarter of growth. The Leamington, Canada-based company reported a year-over-year revenue spike of81% to CA$53.1 million (US$39.7 million).

Adult-use cannabis revenue amounted to CA$56.7 million, up by 27% sequentially, according to its fourth-quarter earnings report. Aphria generated CA$152.2 million in overall net revenue, seeing a sequential and year-over-year increase of 5% and 18%, respectively.

“Our strong finish to fiscal year 2020 demonstrates that this was a transformative year for Aphria, as our net revenue increased 129% from fiscal year 2019,” noted Chairman and CEO Irwin Simon.

Body and Mind Inc. (CSE: BAMM) (OTC: BMMJ) released its third-quarter financial results, including a 33% sequential decline in revenue to a little bit more than $1 million.

More on this week’s results, including those from Ventura Cannabis and Wellness Corp. (CSE: VCAN), at Benzinga Cannabis’ Earnings Center.

ETFs faired mostly well. Over the five trading days of the week:

   •  The ETFMG Alternative Harvest ETF (NYSE: MJ): closed the week flat.

   •  The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): was up 5.4%

   •  The Cannabis ETF (NYSE: THCX): gained 2.6%.

   •  The Amplify Seymour Cannabis ETF (NYSE: CNBS): rose 3.2%.

   •  The SPDR S&P 500 ETF Trust (NYSE: SPY) was up 1.7%.

In other news, Red White & Bloom Brands Inc. (CSE: RWB) (OTC: RWBYF) disclosed its intention to exercise an option to take over investee PharmaCo. Inc.

Canopy Growth Corp (TSX: WEED) (NYSE: CGC) launched a new U.S.-focused e-commerce website under the domain ShopCanopy.com. The site will supplement the offerings of popular distributors such as Direct CBD Online and Vitamin Shoppe, which currently carry a long list of Canopy Products.

Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA) and Clever Leaves International Inc., partnered to form Clever Leaves Holdings Inc.

Tim Seymour spoke on CNBC’s „Fast Money” about cannabis stocks. He said the Canadian names were up big on Tuesday on an upgrade in the sector and the biggest company, Canopy Growth Corp (NYSE: CGC), reports earnings on Wednesday. Others are due to report in August.

There was some talk that the House is going to push for legislation in September, but that doesn’t mean that the Senate is going to vote it through, said Seymour.

Benzinga Cannabis’ content is now available in Spanish on El Planteo.

One World Pharma Inc. (OTC: OWCP), which recently launched the sale of its hemp seeds in Colombia, opted to collaborate with a subsidiary of Isiah International Inc. to develop and commercialize renewable hemp-based alternatives to plastics.

The Nevada Cannabis Compliance Board launched an inspection of three Las Vegas-based dispensaries alleged to have sold contaminated flower. The flower failed laboratory testing for yeast and mold, coliforms, as well as Enterobacteriaceae and Aspergillus. The Department of Taxation and CCB banned the sale of Cherry OG F3 in March.

The board opted to investigate the following businesses accused of selling nearly 375 grams of tainted product between May 19 and June 29:

• Waveseer of Las Vegas (Jenny’s Dispensary)

• Paradise Wellness Center (Las Vegas ReLeaf)

• Desert Aire Wellness (Sahara Wellness)

Canadian firm FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) is suspending all cannabis-related activities. The company has begun liquidating its assets, including its 25,000 square-foot production facility in Cobourg, Ontario.

According to Mjbiz Daily, a regulatory filing made in May by FV Pharma valuated its facility with operational equipment included in CA$12.3 million.

Jushi Holdings Inc. (OTCQB: JUSHF) upsized and closed a debt financing deal, obtaining $27.8 million in cash proceeds to date.

It also closed on subscription receipts totaling $33.3 million, including $12.3 million of subscription receipts related to the acquisition of Vireo Health International Inc.‚s (CSE: VREO) (OTC: VREOF) Pennsylvania-based subsidiary.

Read our weekly psychedelics news roundup: ‚Psyched’: DC Includes Psychedelics Measure On Ballot, GreenStar Buys Eleusian, MindMed Wraps Clinical Trial

Pennsylvania dispensary, Keystone Canna Remedies (KCR) partnered with University of the Sciences (USciences) and Releaf App on a study of how cannabis impacts the quality of life for patients medicating for pain.

“KCR is pleased to participate in this study, as well as show how MMJ dispensaries, in general, can serve as research tools,” said KCR co-founder Victor Guadagnino.

Qualified Pennsylvania medical cannabis patients interested in the study cans contact medicalcannabis@usciences.edu

On August 1st, Cage-Free Repair, a founding organization of National Expungement Week (N.E.W.) will kick off SHOW YOUR LOVE, a fundraising drive for N.E.W. 2020’s upcoming in-person and virtual legal relief clinics, and the group’s year-round work around social issues exacerbated by the War on Drugs.

“Besides raising funds, we will also use this exposure to raise awareness about the 48,000 legal and socioeconomic barriers facing those who are disenfranchised by the criminal justice system,” said N.E.W co-founding organizer James Watts.

Individuals can donate through https://cagefreerepair.wedid.it/, while businesses can connect with the campaign through showyourlove@nationalexpungementweek.org to be part of a digital marketplace where a share of profits will go to N.E.W.’s reparative justice initiatives.

N.E.W. 2020 is slated to take place from September 19-26, 2020.

Acquired Sales Corp. (OTC: AQSP) subsidiary Lifted Made launched its new hemp-derived delta-8-THC nano-particle drops.

„We are super excited about the launch of our delta-8-THC nano drops under our Urb Finest Flowers brand, and this week we will also be rolling out delta-8-THC-nano-infused gummies and ceramic delta-8-THC vape cartridges,” said Nicholas S. Warrender, CEO of Lifted Made. “Because our delta-8-THC products are derived from hemp, our products are federally legal and can be purchased online.”

DIZPOT, a single-source, compliant packaging partner for the cannabis industry, announced it sold more than 12 million units in the first half of 2020. The company has worked with over 500 brands and sold over 40 million units since inception.

My Green Network, an Orange County-based shared cannabis manufacturing incubator, opened submissions for its inaugural Green Quest 2020 program. The three round process will ultimately grant one hopeful minority controlled start-up a MyGN-sponsored California Type-S manufacturing license and a complimentary membership to the company’s shared-manufacturing spaces. 

James Shih, co-founder and CEO of My Green Network commented, “We are excited to be kicking off our inaugural Green Quest 2020 program this year. Our goal is to make sure that minority businesses have an opportunity in the rapidly evolving cannabis marketplace. This initiative is our way to give back to the community and break through the barriers that limit many skilled entrepreneurs from entering the industry. We are leading the charge to support innovation and further access to people nationwide.”

Top Stories Of The Week

Check out the top stories on Benzinga Cannabis this week:

Top Spanish stories:

Check out these and many other cannabis stories on Benzinga.com/cannabis

Lead image by Ilona Szentivanyi. Copyright: Benzinga.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Serrano’s Drug Test Raises Questions About How Racing Will Deal With Medical Marijuana Cards – Horse Racing News – Paulick Report

The legalization of medical marijuana has been spreading across the United States for the past several years, and on July 27, stewards at Mountaineer Park faced a decision that racing jurisdictions around the country will likely see more of in the near future.

Jockey Keivan Serrano underwent a random drug test on July 26, and was found to have THC, or tetrahydrocannabinol, in his system. (THC is the primary psychoactive compound in marijuana.)

Serrano possesses a medical marijuana card, though it was obtained in Ohio. Mountaineer is located in New Cumberland, W.V. and Ohio’s medical marijuana office does not have any reciprocity agreements with other states.

West Virginia passed a medical cannabis bill three years ago when Senate Bill 386 was signed into law on Apr. 19, 2017. The bill’s language set a goal of having infrastructure such as dispensaries, medical marijuana cards, etc., in place within two years, but it still hasn’t happened.

“Medical marijuana is legal in West Virginia,” said West Virginia attorney Harley Wagner. “The legislation has been passed, it’s just that the components to it actually coming to fruition aren’t in place yet.”

Until then, any individual caught with marijuana in their possession in West Virginia is still able to be cited by police. Wagner explained that for a small amount of marijuana, the case could be taken to court and the citation could be expunged after six months if the person does not accrue any similar citations.

Serrano did not have any marijuana in his possession when he was tested by the stewards at Mountaineer. At the time of his testing — after the races on July 26 — Serrano said he was straightforward with the testing agent about his medical marijuana card, and included the information on the official testing report.

Serrano said stewards called him the following morning to tell him he’d tested positive for THC, as he’d expected. They asked about Serrano’s card, and why he had the prescription.

“I use it to sleep at night,” Serrano said. “We race at night, and sometimes I don’t get home until 11:30 at night, then I’d have to get up again at five the next morning. So it helps me sleep.”

Serrano said the stewards asked him to send them the documentation he had in his possession, because West Virginia racing rules indicate that a licensee testing positive for a prescription drug is not subject to penalties, under rule 178-1-24.3.v. He also said that the stewards told him this was their first time dealing with a medical marijuana card held by a licensee.

It was Serrano’s second positive test for THC in 2020 — he also tested positive at Fonner Park in Nebraska back in March.

Serrano found out via the ARCI website on July 29 that he had been summarily suspended by the stewards, pending a hearing scheduled for Aug. 5.

According to Joe Moore, executive director of the West Virginia Racing Commission, Serrano was suspended because he “did not produce a document which identified the amount or dosage of medical marijuana that was permissible for him to ingest in appropriate and specified intervals, nor did he produce a document that would have allowed the Stewards to determine whether the amount of THC in his system was consistent with a prescribed dosage.”

The level of THC in Serrano’s system at the time of the test was not made public in the official ruling.

Serrano made waves on social media after the suspension became public, announcing he was leaving the sport of horse racing, but the 22-year-old said his retirement from the saddle had been on the horizon for a while.

“I’ve always struggled with my weight, and I always told myself that if I ever got scared or if I got too heavy, that I would stop,” Serrano said. “I don’t want to not give owners and trainers 100 percent, because that’s something I pride myself on.”

Serrano plans to return to school in Puerto Rico. He’ll attend pre-med classes online beginning in August with the goal of one day becoming a neurosurgeon.

“I had a good run,” said Serrano, who retires with 105 wins from 1,129 starts. “I don’t have any regrets.”

In the meantime, the West Virginia racing commission has not officially made a determination regarding the use of medical marijuana in licensees, including jockeys.

“The West Virginia Racing Commission has not addressed medical marijuana in its rules inasmuch as the West Virginia Department of Health and Human Resources (WVDHHR), the state agency responsible for administering West Virginia’s medical marijuana program, has not implemented the program and rules in West Virginia,” Moore explained. “It remains to be seen how the state of West Virginia will address the recognition of other state programs and other state medical marijuana authorization cards. Until such time as the Racing Commission has more direction and guidance from the WVDHHR, it is premature to make amendments to the rules of racing.”

5 Succinct Questions With Jeff Yapp CEO Of Golden Leaf Holdings Cannabis – Forbes

Jeff Yapp

Jeff Yapp

2018 Brian Geraths, Prints Charming/PhotoMediaProductions(.com)

I’m a big fan of Chalice Farms, probably because I’ve visited some of their dispensaries while I was recently in Portland, Oregon. They do a really nice job with training their staff to be compassionate and kind. Great work by a company that really cares about their guests. For once I didn’t feel sold to, but guided by. You really have to experience this level of service yourself. At least I experienced a warm and friendly environment. Very refreshing indeed. Now, without further delay, may I introduce Jeff Yapp, the CEO of Golden Leaf Holdings.

Warren Bobrow= WB: Please tell me about yourself? Why Cannabis? What was your inspiration for the plant?

Jeff Yapp=JY: I currently work as the CEO of Golden Leaf Holdings, a cannabis company based in the Northwest. Our holdings include Chalice Farms, which is a chain of seven dispensaries in the Portland metropolitan area. Up until a few years ago, when I connected with a start-up cannabis company to help with technology needs, much of my career had been spent in the tech industry. Through that connection, I began to learn more about the associations from plant-based medicine to problems that many people in our country deal with – lack of sleep, stress, anxiety, etc. During my career, I had worked with large retailers through marketing and branding to help people understand products and how they could be conveniently implemented into their lives. I found myself waking up in the middle of the night to write business plans for something in the realm of cannabis.

Cannabis didn’t strike me as a health and wellness alternative until my son was born and diagnosed with Autism, Crohn’s Disease and Colitis. We took our son to be evaluated by specialists across the country, including Boston General, one of the most prestigious medical centers in the world. Time and again, we were told that our son would need to be institutionalized because his conditions would demand an extremely high level of care. My wife did not believe this was the right course of action for our son, and she demanded that we find a better solution to keep our son with us. We made a commitment that we would find a way to address his medical needs without surgeries or any pharmaceuticals.

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Chalice Farms

This started our journey into alternative medicine, where we eventually determined that diet was an integral part of his treatment. We cut out all common allergens like wheat, dairy and sugar; and we learned through this process that if you nourish the body the way that it is intended to be treated, there is room to heal. Our son was able to speak when it had been predicted he would not have the ability to do so. Eventually, he was no longer testing positive for Crohn’s and Colitis, which demonstrated the effectiveness of plant-based medicine, which I now view as the future and next generation of health and wellness.

I then met William Simpson, the founder of Chalice Farms, an athlete who practiced mixed martial arts and was very focused on his health. He too had also experimented with all sorts of pharmaceuticals with the goal of reducing athletic pain. He told me a story about how cannabis saved his life by cutting out all pharmaceutical drugs, which he replaced with various forms of cannabis. He built the Chalice brand on a foundation of health and wellness, permeating down to the way he designed products and retail stores. As one of the pioneers of the industry, he quickly found himself as the CEO of a publicly traded company, which was not what he had sought out to do when he began his work in cannabis at the farm level.

Chalice Farms

Chalice Farms

Chalice Farms

WB: Please tell me about your company. What are your six- and twelve-month goals? 

JY: Chalice Farms was created in 2014 as one of the first cannabis companies in Oregon by William Simpson, who had a personal connection to cannabis and credited the plant to saving his life. Chalice Farms operates seven dispensaries in the Portland area and is a farm-to-table lifestyle cannabis company focused on health and wellness, education, product innovation and customer service excellence.

As we move forward this year, we believe continuing to drive the convenience and accessibility of cannabis to our customers is critical, which is why we launched our in-house delivery service earlier this year. Our six-month goals are to continue to provide the best customer service and ease of experience to our customers through our delivery platform, curbside pick-up offerings and safe in-store experiences, and to generate a positive cashflow as a company.

Our 12-month goals are to continue to leverage the incredible operating team we’ve built and to grow to a premier leader in the cannabis space nationally. We are also working on the continuing growth and expansion of our business. Through our genuine intention to drive our business as a leader in health and wellness, we foresee ourselves becoming a much bigger player in this industry.

Wb: What about stigmas? How do you explain to a potential client what you do?

JY: It’s interesting to look at stigmas towards the industry now, because I’ve found that over the past several years, attitudes towards cannabis have shifted dramatically. With the majority of my career spent in technology, which led to being introduced to a cannabis company, it’s clear to me that those two industries are working in partnership to bring the best that they have to offer to consumers. Because I’ve been involved in alternative health and wellness for 20 years through my experience with my son, this is a natural extension and I haven’t received any negative feedback towards my work with cannabis.

I look at cannabis in the same ways that I look at digital companies like Google, Yahoo and Microsoft – in phases. We are coming to the close of cannabis 1.0, which has been the infancy of this industry as states establish retail programs and wrestle with legislation. In cannabis 2.0, I expect to see market consolidation and higher-quality products emerging and in cannabis 3.0, I expect to see federal legalization, banking systems and a free market – it’s hard to predict how well we’ll see that succeed or fail. Overall, cannabis will become our next generation of health and wellness.

Chalice Farms

Chalice Farms

Chalice Farms

As cannabis companies have been deemed essential businesses over the past several months through COVID-19, we’ve seen more credibility given to the industry. Plus, recognition has been given to the nimble adaptations necessary for operators to survive. COVID-19 has shifted the industry to focus more on the health and wellness benefits of cannabis products, as well as has demonstrated the flexibility and adaptability of our industry through regulatory changes. On a state by state level, we’re seeing dispensaries across the country adapt to tackle regulatory challenges to best serve customers. We have seen companies transition to delivery-only models in some markets, adding express pick-up options elsewhere, and always prioritizing customer safety in retail stores with sanitizing stations and strict social distancing policies.

WB: What is your favorite food memory from childhood? What is your favorite kind of food now? From where? 

JY: My favorite food memories from childhood all come from spending time with my grandma. I would stay at her house on Friday nights and every Saturday morning, she would make a fresh cornmeal pancake in a cast iron skillet with real lard. Those pancakes were the best and crispiest taste I’ve ever had. I would always wake up early on Saturdays just to spend time with her; she always had a garden with fresh fruits and vegetables and a pasture with farm animals.

It’s funny now to see the trend of reverting to more of that style and method to eating in the same way that my grandma did. My wife has a beautiful garden and we’re getting goats and chickens. We are embracing a lifestyle with minimal processed foods. I love going to restaurants and being in Portland, where we have endless options of farm-to-table restaurants, fresh seafood from the coast, amazing wines and some of the best beer in the country.

WB: What is your passion? 

JY: My family is my passion. I’m blessed with an incredible wife and seven kids – my youngest is now somehow already 21 years old. The greatest gift that I’ve been able to give my family and my children is that each one of them is doing something that they love and are passionate about.

With COVID-19, our team has been working remotely and I’ve been fortunate to have more time than I ever expected with my family. My 30-year-old daughter and her fiancé are currently staying with us, another daughter and my grandson are staying with us, and we have a couple of our other kids here with us as well. It’s also the first time in nearly 40 years that I haven’t been on a plane every week, which has been a welcome break from travel to enjoy time with my family.

CBD, From Seed to Salve: Stigma, a Minneapolis-based CBD store, emphasizes its supply chain and local pedigree – The Growler

CBD Products on display at Stigma Hemp in Minneapolis // Photo by Tony Saunders

This story is a part one of a two-part series on CBD and hemp underwritten by J.C. Younger. The Growler maintained editorial control over the content. 

We wanted to be the Summit Brewing Company of the cannabis industry in Minnesota,” says Josh Maslowski. Maslowski is the owner of Stigma Hemp, a Minnesota-based company that sells tinctures, topicals, and edibles that harness cannabidiol (CBD), a hemp-derived product that has been widely used to treat anxiety, seizures, chronic pain, and other ailments.

And while the medical properties of CBD are not yet fully understood, numerous reputable institutions have cited its promise for a variety of applications. At the same time, a Wild West atmosphere around the CBD industry has led to a marketplace that is rife with poorly labeled and sometimes downright fraudulent products.

For Maslowski, the appeal of marketing CBD stems from its potential to heal, and that means marketing products that encourage repeat and long-time customers. In the same way that craft breweries like Summit and Surly shaped the Minnesota brewing scene by pushing innovative and reliable beers, Maslowski hopes to develop CBD product lines and a reputation that puts Stigma at the top of the pile amongst its competitors.

“We looked at those [breweries] and the parallels between how they exist in their space with how the cannabis industry will probably look like and that’s the path that we chose,” says Maslowski. “Which means craft quality, ingredients […] everything we do, we do very carefully. We carefully curate the ingredients and partnerships in this new industry.”

The shop got its start with the 2018 Farm Bill, which overhauled regulations on hemp-related products. The bill opened the door (partially, and ambiguously) to commercial CBD production. Maslowski, who had experience with making and selling products to electronics retailers, saw a financial opportunity to get into a market with immense potential and little formal definition. His interest was galvanized by health struggles among his family and friends, and the potential good CBD could do by alleviating symptoms.

Stigma’s challenge—and the challenge of any CBD retailer in Minnesota—is balancing the need to connect customers with products and the need to provide a safe, effective, and reliable service in a marketplace that is still finding its regulatory footing.

“When I started Stigma, I knew that I had to bring product that was grown appropriately—i.e. organic methods—and was tested appropriately so that when I put it on my shelf or web store, I know exactly what’s inside the bottle,” says Maslowski. “That’s another comparison to other retailers who were not doing that due diligence. And that saves money and time by not doing that, by not doing it what we would call the right way.”

The selection of CBD products is currently limited to a corner of the store due to restrictions from the pandemic // Photo by Tony Saunders

The right way, for Maslowski, means working with groups like the Minnesota Hemp Association (MHA) to create standards for testing and labeling CBD products, and to avoid retailing any products with troubling reputations. From the get-go, Stigma has avoided carrying CBD vape pens and oil over concerns about the danger of vaping.

“I was scared about that—there was a lot of liability and a lot of issues with vaping at the time,” says Maslowski. “It could have been a healthy percentage of our revenue in our first year or two, but instead we focused on other things.”

Those other priorities include emphasizing partnerships with breweries. Stigma teamed up with Modist Brewing by extracting the hop oil from the brewery’s popular hazy IPA, Dreamyard, and formulating a product using that oil and Minnesota-grown hemp CBD oil.

Dream Oil is derived from biomass grown in a greenhouse in Rogers, Minnesota, and then moved to Cannon Falls to be processed by a licensed hemp processor. The hemp processor extracts the oil, which is then refined, tested, and compounded into Dream Oil.

Tinctures like Dream Oil also need a carrier oil so the CBD can bind with a protein in order to be effective. “In the case of Dream Oil we use a local Minnesota hemp seed oil,” says Maslowski. “We round it off with a little bit of local honey. Every bit of that formulation was sourced organically or locally. We do the formulation, we do testing, and we send the bottles of finished goods off to then get tested for how many […] we’re saying there’s 500mg to the bottle—we make sure we’re hitting the mark, then we run a couple hundred units at a time and run package labels in accordance with the Minnesota CBD law, and the labels go on the bottle and then they go out the door. That’s seed to sale right there.”

The company is also working with Duluth Coffee Company on a coffee-infused tincture.

With the onset of COVID-19 in March, Stigma had to shut down its retail showroom in the North Loop, but Maslowski is still sunny about the future of his business and his industry.

“Our online sales have been up, so we’re actually ahead of where we were before,” says Maslowski. “I think that’s a testament to CBD. I started out in the video game industry, and we used to say video games and alcohol were recession-proof and I’ll definitely add CBD to that list.”


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Nancy Pelosi defends cannabis provision in Democrats’ coronavirus aid package – USA TODAY

WASHINGTON – Speaker of the House Nancy Pelosi defended a provision in the $3 trillion Democratic stimulus bill that would allow legal cannabis businesses to access banking services Friday, while attacking „misrepresentation” in Republicans’ proposed package.

Asked to respond to the accusation that the cannabis language is not „directly related” to the coronavirus response, the California Democrat said she does not agree.

„This is a therapy that has proven successful,” Pelosi said at a press conference. 

Pelosi did not cite any studies or health officials that have said cannabis may be a treatment for the coronavirus. Researchers have started to explore the possibility of its uses in treating lung inflammation, Forbes reported earlier this month, though no studies have yet shown any definitive benefits of cannabis use in treating COVID-19. It is legal for use in treating other medical conditions in many states, however.

The Food and Drug Administration has also sent warning letters to companies making claims about health benefits of cannabidoil products in treating coronavirus.

The Democrats’ Health and Economic Recovery Omnibus Emergency Solutions Act, or HEROES Act, includes funding for another round of stimulus checks for Americans, aid for state and local governments and billions for housing and food assistance. 

$1,200 checks? Money for schools?:Breaking down what Republicans and Democrats want in the coronavirus stimulus plan

Included in Democrats’ package is the Secure and Fair Enforcement Banking Act, a bill already passed through the House that would prohibit federal financial regulators from penalizing banks and depository institutions that provide services to legal cannabis-related businesses. It would also provide for the Government Accountability Office to conduct a study on minority and women cannabis business owners.

The HEROES Act notes that the cannabis provision would allow „access to financial services to cannabis-related legitimate businesses and service providers” while limiting the amount of cash handled at those businesses. 

Cannabis industry leaders have said their businesses are being hit by the pandemic. Though they are deemed „essential” businesses and allowed to continue operating during lockdowns in many places, they are ineligible for Small Business Administration programs designed to help small businesses, according to the National Cannabis Industry Association.

„It’s critically important that essential cannabis workers are not exposed to unnecessary health risks due to outdated federal banking regulations,” executive director Aaron Smith said in a statement commending the inclusion of the SAFE Banking Act.

Pelosi pushed back on the idea that the cannabis language was akin to the $1.75 billion provision in Republicans’ coronavirus relief proposal that was inserted by the White House to rebuild the FBI headquarters in downtown Washington.

The Republicans’ $1 trillion package would also include direct payments to Americans, and focuses on assistance to businesses and schools but stops short of aid for housing, food or state and local governments

FBI headquarters: White House pushed to include $1.75 billion for new FBI headquarters in GOP pandemic aid bill

The FBI inclusion was criticized by both Republican and Democratic lawmakers, but White House chief of staff Mark Meadows said it was a „pressing need” and argued the coronavirus relief packages are a „funding mechanism” with various proposals not directly related to the pandemic.

„I’m opposed to non-germane amendments,” Senate Majority Leader Mitch McConnell, R-Ky., said on Tuesday, stopping short of saying he would try to remove the FBI building item from the bill. McConnell cited „marijuana studies” as another unrelated inclusion in relief legislation that he is opposed to.

HEALS Act: Mitch McConnell unveils $1 trillion pandemic aid package to criticisms from Republicans and Democrats

Democrats accused President Donald Trump of being self-serving with the FBI provision because it would avoid the possibility that the current site of the building would be bought by a hospitality industry that could compete with Trump International Hotel. 

Pelosi said Friday that the cannabis measure „is by no means of the caliber of money or misrepresentation that remodeling the federal building is, for over $1 billion so that another hotel doesn’t come in there and compete with the president’s hotel.”

„That’s what that’s all about,” she said. „That has nothing to do with the coronavirus.”

House Minority Leader Kevin McCarthy, R-Calif., said Pelosi’s Friday defense of the cannabis provision was „incredibly irresponsible.”

„Pelosi just doubled down on her $3 trillion dollar cannabis legislation, falsely claiming that it’s a proven therapy for coronavirus. Hey Nancy, let’s focus on the pandemic. Not pot,” McCarthy tweeted.

Democrats and Republicans are at a standstill on negotiations for the next coronavirus relief package, as the Senate adjourns until Monday and the House until Tuesday.

„We’re going to have to come to some compromise on the legislation,” Pelosi told the reporter Friday. „I just don’t accept that there’s any equivalence in what you’ve put forth there.”

Week in Review: Cannabis investors eye NJ, program delays in Illinois and Maine, House votes to protect adult-use markets & more – Marijuana Business Daily

Some of New Jersey’s medical marijuana operators already are investing heavily to expand cultivation facilities and other infrastructure to prepare for the expected rollout of an adult-use market.

Voters will have their say in November. The recreational initiative is expected to pass.

MJBizDaily takeaway: If voters do say yes, New Jersey could well develop into a multibillion-dollar market over time and become the focal point on the East Coast if New York doesn’t approve adult use soon.

Still, recreational sales might not start until 2022 because regulations would need to be developed.

Some of the big investors now are multistate operators that already have a foothold in New Jersey’s medical cannabis market. They hope to join the first wave of adult-use sales – assuming they occur.

Program, licensing delays

The coronavirus pandemic continues to delay a number of marijuana programs and licensing timelines.

The latest two developments: Maine likely won’t launch recreational sales until late this year, and Illinois has slipped several months behind in awarding second-round licenses for its new adult-use program.

MJBizDaily takeaway: Program delays especially affect businesses that are on the hook for real estate and other fixed expenses.

Delays also can test the patience of investors amid a virus-fueled recession and tight capital markets, perhaps more so in Maine than Illinois.

In Illinois, existing MMJ operators already have had a seven-month (and growing) head start to establish customer loyalty and brand recognition in the state’s new recreational program. Depending on the market dynamics of a location, that could make it difficult for second-round licensees to break in.

Protecting adult-use MJ markets 

The U.S. House again passed a provision that would prevent the Justice Department from cracking down on state-legal recreational marijuana programs.

MJBizDaily takeaway: The measure enjoyed some bipartisan support, an important indication of pro-marijuana sentiment in the House.

However, the language, tucked into a spending bill, isn’t expected to pass the full Congress. And even if it did, it’s only a stop-gap measure.

Industry officials hope the next year brings permanent federal reform. If wide-ranging marijuana legalization is out of reach, banking services for the cannabis industry continues to head the wish list.

CBD scheduling

Two cannabis scheduling recommendations by the World Health Organization received some stiff resistance, including from the United States, at a United Nations meeting.

Separately, the European Union appears to be leaning toward considering hemp-derived CBD as a narcotic.

Those two developments don’t bode well in advance of an expected vote of the WHO recommendations in December by the U.N. Commission on Narcotics Drugs. But industry officials still hold out hope.

MJBizDaily takeaway: The recommendations would ease international controls on certain CBD preparations.

That, in turn, should stimulate international trade in those preparations as well as boost markets and sales.

Bribery nets two years

A former Maryland lawmaker who helped develop the state’s medical marijuana industry was sentenced to two years in prison for taking $33,000 worth of bribes. Federal prosecutors had recommended a three-year sentence.

A Baltimore businessman earlier had pleaded guilty to bribing the former lawmaker, Cheryl Glenn.

MJBizDaily takeaway: The feds have been taking public corruption in the marijuana industry seriously in the past year.

So this case is just one of many offering cautionary tales for marijuana businesses looking for shortcuts to lucrative licenses.

Jeff Smith can be reached at [email protected]

Research finds CBD effective at treating cannabis use disorder – Chicago Tribune

Published in the journal Lancet Psychiatry, researchers recruited 82 participants motivated to quit marijuana but had struggled on their own in the past. Subjects, all diagnosed with cannabis use disorder, were then given three varying amounts of medical-grade CBD or a placebo in the first stage of the trial. Researchers discovered 200mg of CBD was ineffective and so only administered 400mg and 800mg doses in the second trial.

CBD: 2Q Earnings Snapshot – San Francisco Chronicle

SAO PAULO (AP) _ Companhia Brasileira de Distribuicao (CBD) on Thursday reported second-quarter net income of $62.3 million.

On a per-share basis, the Sao Paulo-based company said it had profit of 23 cents. Earnings, adjusted to account for discontinued operations, came to 19 cents per share.

The retailer posted revenue of $3.87 billion in the period.

CBD shares have decreased 38% since the beginning of the year. The stock has declined 44% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBD at https://www.zacks.com/ap/CBD

NuLeaf Naturals Review: Full-Spectrum CBD Oils We Love | Health.com – Health.com

Each product we feature has been independently selected and reviewed by our editorial team. If you make a purchase using the links included, we may earn commission.

I’ve tried hundreds of CBD products within the past few years, and NuLeaf Naturals CBD oils are always at the top of my list when I think of the best CBD oils on the market today. This is a CBD brand that’s been at the forefront of the CBD industry since its inception in 2014 and has continued to garner interest among consumers for years. With health and wellness aficionados at the helm of NuLeaf, this trusted CBD company surely stands out in an overcrowded market thanks to its strong, full-spectrum CBD oils. 

Based out of Denver, Colorado, NuLeaf Naturals makes all of its cannabinoid wellness products from the highest-quality organic hemp plants and nothing else. These premium CBD goods are made with whole-plant extracts that are highly potent and contain several other beneficial cannabinoids like CBG, CBC, and CBN (just to name a few).

So if you’re in the market for a strong, organic hemp oil, NuLeaf Naturals definitely fits the bill. Keep reading to learn everything there is to know about this brand, and discover if its products are the right fit for you.

NuLeaf Naturals Product Review

When it comes to consistency, there’s no better brand to purchase your CBD oil from. NuLeaf excels at making one high-quality CBD product—its tinctures. Each NuLeaf Naturals CBD oil contains 60 milligrams of CBD per milliliter, so you’ll be getting the same CBD oil no matter what you purchase on its website. This is great for people who want an extra strength CBD oil that will be as consistent as possible across different batches of product.

The pros

One of the major standout features of NuLeaf’s CBD products are the ingredients they contain. For starters, the CO2 extraction process used requires no harsh chemical solvents and keeps important phytonutrients intact. This means you can reap the most benefit from cannabinoids, terpenes, essential oils, and other plant compounds found within hemp plants when using these CBD oils.

In addition to its superior CO2 extraction methods, NuLeaf Naturals also uses USDA-certified organic hemp seed oil as the carrier oil for its CBD products. The second and last ingredient in NuLeaf CBD oils is the full spectrum CBD extract, which is also derived from organic hemp plants that are grown using sustainable farming practices.

A few other positive things to note about this CBD brand are the dark bottles that house the CBD oil, which are made from light-defense glass and help protect against damaging UV rays that may otherwise degrade the hemp extract. NuLeaf also offers free 2 to 3 day shipping across all 50 states, and its products have been recommended by thousands of satisfied customers. Many consumers note that NuLeaf Naturals’ full-spectrum oils are great for issues with pain, and they have personally helped with my anxiety and sleep issues as well.

The cons

As a shopper within the CBD market, I highly value honest opinions about a brand—even when they aren’t always positive. For this reason, I want to be completely upfront about the few downsides that I’ve found when it comes to purchasing a product from NuLeaf Naturals. 

In comparison to other high-quality CBD brands, NuLeaf is definitely on the pricier side. Its CBD oils cost on average of around $0.10 per milligram, which is more expensive than other well-known CBD companies whose product price range falls within $0.05 to $0.08 per milligram. It’s not cheap to make organic CBD oils that are up to the same standards as NuLeaf’s, so it makes sense that the brand is also more costly. The higher volume CBD oil you purchase, the better the price per milligram. For instance, the 3000 milligram bottle from NuLeaf costs $0.08 per milligram, so even if the upfront cost seems high, it’s a good deal.

Also, if you’re looking for other product styles (like gummies, capsules, topicals, etc.) or different CBD strength varieties, this may not be the brand for you.

Lastly, I have to comment on the taste of these CBD oils. Because, although I greatly appreciate the company’s dedication to all-natural plant products, the flavor of NuLeaf Naturals CBD oil can be quite off-putting. It’s definitely worth the benefits for the few seconds of earthy hemp taste that you’ll experience, but don’t say I didn’t warn you.

What’s the best NuLeaf Naturals product for you?

For the CBD novice — 5mL bottle

If you’re just starting out with CBD, I recommend getting the smallest bottle size from NuLeaf — the 5 milliliter option. This is a good sample size of the product, and the oil contains a total of 300 milligrams of full spectrum CBD. It’s the brand’s lowest-priced CBD oil, which is a great place to start if you aren’t sure whether NuLeaf is the right brand for you. If you’d like a little more than 5 milliliters of CBD oil to try, it also offers a 15 milliliter bottle.

For the average CBD user — 30mL bottle

If you’ve tried CBD before, liked the experience, and are looking to give another great brand a try, then the standard 30 milliliter bottle of NuLeaf CBD oil is the best product to try. This bottle contains 1800 milligrams of CBD in total, which is pretty strong compared to other standard 30 milliliter CBD tinctures on the market. I personally own this bottle size. I use it a few times a week and it’s lasted for more than a month.

For the CBD enthusiast — 50mL bottle

This CBD oil product is not for the faint of heart, and it’s only recommended for those who plan on taking quite a bit of CBD within the coming weeks to months. This 50 milliliter bottle of full-spectrum CBD oil is the second largest option that NuLeaf offers (only second to their 100 milliliter bottle that costs $439). This amount of CBD oil may take some time to go through for the typical CBD user, but if you take a lot of CBD regularly for chronic pain or other ailments, then this option may suit your needs best. And as an added bonus, it has one of the best prices per milligram of CBD amongst NuLeaf’s product line.

For the pet owners — 5mL Pet CBD Oil

While NuLeaf may not have a ton of variety in terms of its product offerings, it does sell a full-spectrum pet CBD oil that’s great for dog or cat owners who want to give their pets a little extra health boost. This hemp oil is made with the same high-quality CBD extracts as NuLeaf’s other CBD oils and will likely last twice as long considering pets need much lower doses of CBD than humans do.

Other FAQs about NuLeaf Naturals

Does it lab test its products?

Of course! It’s crucial to only ever shop from CBD brands that provide third-party lab test results for all of their products. Lab testing is of the utmost importance when shopping for a high-quality CBD oil, as these lab results will show the exact cannabinoid content (including how much CBD is within the product), and will ensure the safety of the oil by testing for unwanted chemicals like pesticides, mycotoxins, or heavy metals. The lab tests for NuLeaf CBD oils are batch-specific, so you can enter the specific lot number for your product (located on the bottle) and enter it on the brand’s website to see the lab results for that particular CBD oil.

Where does it source its hemp from?

Just as NuLeaf Naturals is based out of Colorado, its CBD extracts are also obtained from hemp plants grown on sustainable farms within this cannabis-savvy state.

Will NuLeaf CBD oil make me high?

Since NuLeaf Naturals CBD products are made with full-spectrum hemp extracts, they may legally contain up to 0.3% THC (the main psychotropic compound in cannabis). This is only a trace amount of THC and will not cause any intoxicating effects or the „high” feeling associated with marijuana.

Will these CBD products affect a drug test?

As mentioned, there are trace levels of THC within NuLeaf Naturals CBD oil, which may be of concern for individuals who have to take a drug test for a new job—or just don’t want to risk any side effects if they’re already on prescription medication for a health issue. Though it’s unlikely that these oils will affect the outcome of a drug test, you may want to opt for a broad-spectrum or CBD isolate product instead if a test is in your future.

Can I take Nuleaf CBD oil if I have a medical condition?

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