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 January 11th – 17th, 2021.
Without further ado, let’s get started.
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The UFC, Which Has Long Been at the Forefront of Cutting Edge Sports Science and Research, is Again Pushing the Boundaries Looking to Be the First Major Pro Sports League to Enter the World of Psychedelic Medicine
At the request of President Dana White, the UFC has reached out to global Psychedelic research leader Johns Hopkins University to take a closer look at Psychedelics and how they might help combat the effects of brain injuries and mental health issues, such as CTE, PTSD and addiction.
RWB’s Powerhouse Cannabis Band Platinum Vape Continues to See Stunning Revenue Growth With Platinum Reporting Record-Breaking Sales of USD $2.8 Million in the First Week of 2021
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced that the company has now completed all cash payments related to the Platinum Vape (PV) acquisition. Powered by increased revenue figures in all active states, Platinum Vape expects to see its sales continue to organically accelerate as the company gears up to enter Arizona in Q1 2021 as well as enter core RWB markets throughout the year.
Thanks to Academic Collaboration, Legislative Change, and Biotech-Focused Drug Development, the Emerging Psychedelics Industry is Stronger Than Ever Before
However, there is a hidden hero in the details of the numerous press releases pertaining to psychedelic medicine progress – the investment banks allowing this space to grow. Indeed, the sheer scale of Psychedelic medicine’s agenda requires a lot of funding, and much of this funding is thanks to investment banks who enter agreements with Psychedelic Medicine companies.
2020 Was a Hell of a Year for the Cannabis Industry, Which Saw Cannabis Deemed an Essential Business During a Global Pandemic
It proved to be a bipartisan issue, as several red states voted to legalize recreational and medical Cannabis. Plus the House of Representatives passed the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) and the Medical Marijuana Research Act (MMJ Research Act), both now pending before the Senate. As we move into 2021, what can we expect from the industry next?
Increasingly, Blue Monday is Being Used to Draw Attention to Mental Health, and in the Midst of a Pandemic That is Keeping us Frustrated and Isolated, Solutions to Our Mental Health Issues Are More Needed Than Ever
Field Trip Health (CSE: FTRP) (OTC: FTRPF), CEO Ronan Levy says the company’s Toronto clinic is providing treatment to an increasing number of people with treatment-resistant mental health conditions, and with positive results. The company operates two specific arms, Field Trip Health, a clinic model with locations in North America and Europe, and Field Trip Discovery, a division focused on research and drug discovery. Currently, Field Trip Health’s operational clinics in Toronto, Los Angeles, Chicago, and New York offer ketamine-assisted therapy only, however, a soon-to-open clinic in Amsterdam will instead offer therapy centred around psilocybin truffles.
The Transaction is Being Touted as the Biggest Cannabis SPAC Deal Ever
A consortium made up of CMG Partners Inc., Left Coast Ventures Inc. and Shawn Carter aka Jay-Z —with his company Roc Nation — has finalized its previously announced transaction with Subversive Capital Acquisition Corp. (NEO: SCV.A.U) (OTCQX: SBVCF). The newly formed company has been dubbed TPCO Holding Corp, or the Parent Company.
Investors Are Cheering New and Expected Legislation Which is Opening New Market Opportunities for Both Cannabis and Psychedelics Globally
Innovation in premium branding, growing technologies, manufacturing, with operational execution is key, in the drive towards profitability. Industry thought leaders in Cannabis and Psychedelics, including the CEOs of Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E), Icanic Brands (CSE: ICAN) (OTCQB: ICNAF), Red Light Holland (CSE: TRIP) (FRA: 4YX), and Tilray (NASDAQ: TLRY) (FRA: 2HQ) recently discussed a range of new global market opportunities, here are some highlights from their recent comments.
Since the State Began Collecting Tax Revenue on Marijuana Sales in February 2014, Colorado Has Brought in Almost $1.6 Billion in Taxes on Nearly $9.8 Billion in Total Sales
Colorado’s total Cannabis sales surpassed $2 billion in 2020, the highest amount since legalization, the state’s Department of Revenue (CDOR) said Tuesday. State dispensaries brought in $175,145,246 in November, a 17 percent increase from 2019. In return, the state reaped $32,383,094 in revenue from taxes and fees. Colorado’s sales were $1.7 billion in 2019 and $1.5 billion in 2018. The state brought in $387,480,110 in taxes and fees in 2020.
Local Massachusetts Lawmakers Unanimously Approved a Resolution to Decriminalize a Wide Range of Psychedelics—the Latest in a National Movement to Reform Laws on Entheogenic Plants and Fungi
Prior to passing the measure in a 9-0 vote, the Somerville City Council took testimony from two people with personal experience benefiting from the therapeutic use of Psychedelics. Several members of the council also discussed the failures of the drug war and the potential medical value of entheogenic substances, particularly as it concerns mental health.
Cannabis Sales in Michigan Spiked During December, Bringing the Total to $984.6 Million for 2020
Medical Marijuana sales in Michigan accounted for $474 million for the year, while adult-use Cannabis sales reached $510.7 million, according to New Cannabis Ventures citing data from the Michigan Marijuana Regulatory Agency. Combined cannabis sales, including medical and adult-use, for December 2020, amounted to $101 million.