The Morning Blunt
Volume 1| Issue 28
September 28, 2018
“In philanthropy we don’t worry about getting fired. There’s a lot of work to be done.”
— Eli Broad
Seeking Alpha’s Cornerstone Investments reported Thursday Tilray’s share price flashed it’s biggest warning to cannabis industry investors last week as prices surged then dropped over 100%. Check out what Cornerstone’s warning to the industry.
Cannabis infused beverages may become a $600M US market by 2022 according to analysts at Canaccord Genuity. The analysts believe that cannabis infused beverages could capture as much as 20% of the adult market.
States like California and Oregon do not have a residency requirement to maintain cannabis licensure or a business, however Washington does. Foreign investors looking to invest in the cannabis industry are subject to loose background checks and could potentially cross the line federally though no cases have been brought to date.
Cannabis stocks soared after the DEA announced it’s approval of Epidiolex, a prescription epilepsy medication created by GW Pharmaceuticals of Cambridge UK who rose 7%. While CBD itself remains a schedule I narcotic, a derivative medication Epidiolex has been rescheduled by the Drug Enforcement Agency, saying the substance has little abuse potential and minute levels of narcotic. Epidiolex can be prescribed to children who suffer from a rare form of epilepsy.
Supreme Cannabis announced an agreement with GMP Securities L.P. and BMO Capital Markets for a $90M bought deal financing of convertible debentures at $1000 per debenture.
Los Angeles International Airport announced on it’s website that it’s policy toward cannabis had changed, now allowing a personal amount of cannabis and concentrates to be transported through security and onto planes.
Hawaii banking commissioner Iris Ikeda joined Pennsylvania’s Robin Wiessmann and thirteen other state banking regulators to request that congress address the regulatory conflict banks face for providing services to those in the legal medical cannabis industry.
Despite several risks investors are jockeying for position in Arizona’s medical cannabis market. Arizona is one of the largest cannabis markets in the US. While speculators believe that recreational cannabis will reach Arizona by 2020 there are no guarantees of change in legislation. Check out what difficulties to investors Marijuana Business Daily foresees.
Co-founders Chris Dell’Olio and Hilart Abrahamian created WebJoint, an online ecommerce, inventory tracking system, compliance oriented and compatible with California’s mandated METRC software. WebJoint will offer cannabis brands an opportunity to market directly to consumers a list of inventory and the option of delivery.
Cannabis research done at the Center For Brain Health at the University of Texas in Dallas found cannabis increased cortical activity in users which resulted in “noisy brain”. Delta brain waves in users were reduced, while beta, theta, and gamma waves all increased in activity resulting in disrupted cognitive processes.
Jamaica just completed it’s first shipment of medical cannabis extract to Canada. Jamaica has hopes of becoming a global cannabis hub exporting products for research and medicinal purposes.