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 August 3rd – 9th, 2020.
Without further ado, let’s get started.
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Back in April, the Four Cancer Patients Petitioned the Canadian Health Minister for Permission to Use Psilocybin as Part of Their Psychotherapy Treatment
In a landmark decision by Canada’s Minister of Health, the Honourable Patty Hajdu, four terminally ill cancer patients receiving end-of-life care will be legally allowed to carry and consume Psilocybin mushrooms, commonly referred to as Magic Mushrooms.
NFL Hall of Famer Brett Favre Has Officially Joined the CBD Industry
Brett Favre, the long-time Green Bay Packers quarterback has signed on to be a brand ambassador for Green Eagle, a new CBD brand that makes creams, roll-ons, sprays, liquid capsules and salve sticks.
It Was Announced That Enough Valid Signatures Were Collected in D.C. to Place the Wide-Ranging Psychedelics Decriminalization Measure on the November 2020 Ballot
During a virtual meeting this week, the Washington D.C. Board of Elections confirmed the news via a certification announcement, which means that in just a few short months, D.C. voters will have the final say in this historic opportunity for drug reform. If approved, the “I-81” initiative would make Psychedelic substances such as Ayahuasca, Ibogaine, and Psilocybin in line with the lowest law enforcement concerns in D.C.
Sen. Tina Smith (D-MN) Talked Up Her New Marijuana Legalization Bill During a Speech on Racial Justice That She Delivered on the Senate Floor
The senator, whose “Substance Regulation and Safety Act” was introduced late last month, said that ending cannabis prohibition could help law enforcement devote more resources to serious crimes, rather than continue to criminalize people in a racially disparate manner.
The Global Pharmaceuticals Market is Expected to Be Worth $1.57 Trillion by 2023, According to a Study From Market Research Company NAVADHI, with the U.S. Claiming a 45.33% Market Share
There is a renaissance in pharmacology today, a sort of golden era inspired by both the need to expedite the creation of a vaccine to treat a global pandemic, and medicalizing treatments of other conditions such as mental health with Psychedelics. The study identified ten key players in global pharmaceuticals: Pfizer (NYSE: PFE), Novartis International AG (SWX: NOVN) (OTC: NVSEF), Johnson & Johnson (NYSE: JNJ), GlaxoSmithKline PLC (NYSE: GSK), Roche Holding AG (SWX: RO) (OTCQX: RHHBY), Merck & Co. (NYSE: MRK), Sanofi S.A. (EPA: SAN) (OTC: SNYNF), AbbVie (NYSE: ABBV), Gilead Sciences (NASDAQ: GILD) and Bayer AG (ETR: BAYN) (OTC: BAYRY). Many of these companies are involved in developing Psychedelics-based pharmaceuticals.
Illinois Saw Another Record-Breaking Month of Recreational Cannabis Sales in July
Despite the coronavirus pandemic, Illinois is reporting nearly $61 million in adult-use Cannabis sales—smashing the previous record set in June of nearly $47 million. For the first time, more than one million Marijuana items—1,270,063 to be precise—were purchased in a monthly reporting period.
Overall, the Policy Change Would Result in a 95% Drop in Racial Disparities for Possession Arrests, the Panel Projects
The November Election Offers the Prospect That California’s Legal Cannabis Industry Footprint Could Expand Significantly, Depending on a Many Local Ballot Measures
According to research by Hirsh Jain, government affairs director at San Jose-based retailer Caliva, and California NORML Deputy Director Ellen Komp, at least 26 localities across California will have pro-marijuana initiatives on the ballot. Jain estimates those measures could result in as many as 150 new business permits being made available to the industry.
Revive Received the FDA Sign Off to Start a Phase 3 Trial on Bucillamine for Mild to Moderate Cases of COVID-19
Revive Therapeutics (CSE: RVV) (OTCPK: RVVTF) (FRA: 31R) is a Canadian life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders. It began the year hot as it was fully onboard the psilocybin craze before Psychedelic Stocks like itself, Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) and MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: BGHM) pulled back from their highs.
The U.S. Labor Department Will Release its Employment Report and While Job Growth Appeared Evident Over the Past Two Months, Economists Are Worried That the Trend Has Fizzled Out in Recent Weeks
However, hiring is still happening in the cannabis sector. Here’s a list of companies currently on the hunt for talent: Curaleaf (CSE: CURA) (OTCQX: CURLF), Trulieve (CSE: TRUL) (OTCQX: TCNNF), Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2), Cresco Labs (CSE: CL) (OTCQX: CRLBF), Acreage Holdings (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E), Harvest Health (CSE: HARV) (OTCQX: HRVSF), iAnthus (CSE: IAN) (OTCQX: ITHUF) (FRA: 2IA), MedMen (CSE: MMEN) (OTCQX: MMNFF) (FRA: 0JS), 4Front Ventures (CSE: FFNT) (OTCQX: FFNTF) and Terra Tech (OTCQX: TRTC).