Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelics Industry News Stories for the Week of June 1st – 7th, 2020.
Without further ado, let’s get started.
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Red White & Bloom (CSE: RWB) (OTC: TDRYD) IPO’d on Friday, and with over $6.5 million in trading volume, it’s clear, investors are taking full advantage of RWB’s temporarily cheap valuation compared to its multi-state operator (MSO) peers.
The path to curing addiction through Psychedelics is becoming more clear and is gaining momentum through more focused treatment. MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM) is working with ibogaine to help curb opioid addiction with its 18-MC study and Psychedelic clinic operator AltMed, which was acquired by Champignon Brands (CSE: SHRM) (OTCQB: SHRMF), will sponsor its network of clinicians and thought leaders throughout R&D campaigns and clinical trials to target addiction as well as several other indications.
As we inch closer to legal and regulated Psilocybin, all signs of its ‘Magic Mushroom roots’ will likely fade into the rearview. Could we soon be saying goodbye to piles of stems and caps, and hello to synthetically produced and widely prescribed medication?
Illinois has expanded its hemp market by allowing hemp producers to sell directly to adult-use and medical cannabis processors in the state.
Top business and medical minds in the Psychedelics space, including MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM) investors Bruce Linton and Kevin O’Leary as well as Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) CEO Dr. Roger McIntyre agree a growing avenue of opportunity for entrepreneurs in psychedelic medicine is developing.
There’s little doubt in Senator Cory Gardner’s mind that a cannabis banking bill would be approved if it were taken to a full vote of the U.S. Senate, but getting that measure in front of his colleagues has been a slog.
As mass protests over police killings of black Americans continue across the U.S., there’s a renewed push in New York to pass a package of criminal justice reform legislation that includes marijuana legalization.
Three Michigan provisioning centers have teamed up to offer a unique discount program geared specifically toward people caught up in the trap of marijuana prohibition.
Red White & Bloom Brands (CSE: RWB) (OTC: TDRYD) said Friday it has inked a licensing rights deal with High Times. Under the agreement, RWB is authorized for the branding of High Times medical and recreational dispensaries as well as CBD and THC products in Michigan, Illinois and Florida. RWB also obtained the rights from HT Retail Licensing LLC to use the “Culture” brand of hemp-derived CBD products.
How will individual firms generate meaningful revenue? As we know, the business of biotech and pharma can be expensive, with potential revenues sometimes years away. For serious investors, here’s why Psychedelic Stocks that own clinics may hold a big advantage over the field.