Hemp was once America’s most important cash crop, and it’s quickly making a comeback in the 21st century. It’s not an exaggeration to say that the hemp industry helped build the early US into a global economic powerhouse.
Hemp’s versatility in those colonial and postcolonial days was seen in its use in the maritime, clothing, food and paper industries. Hemp was important in supplying American troops and ships during the revolutionary war, and was even used to make the paper for the Declaration of Independence.
As a variety of cannabis, hemp must contain less than 0.3 percent THC in order to be considered hemp rather than marijuana by US Department of Agriculture, Agriculture and Agri-Food Canada and other government bodies. What it lacks in psychoactive properties, hemp more than makes up for in industrial and commercial utility.
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Unfortunately, politics and misinformation would destroy this industry in the 20th century as hemp got caught in a misguided war against its close genetic cousin, marijuana, despite the fact that hemp is about as useful for getting high as rice. Times are changing, however, and legislative reforms in both the US and Canada, as well as a little help from the up-and-coming CBD industry, could mean big things for hemp.
While the cannabis industry remains something of a question mark in most jurisdictions, the hemp industry offers stability. Global sales for consumer hemp products hit $688 million globally in 2016, and the market for hemp-derived CBD products is expected to have a 22-percent compound annual growth rate over the next five years.
Regulatory reform and the growth of the hemp industry
Canada has been licensing hemp producers since 1998. The Canadian hemp industry brought in C$170 million in 2016. The US has been slower to open the gates for hemp growers. Section 7606 of the 2014 farm bill allowed state departments of agriculture and universities to grow hemp for research or pilot programs. The 2018 US Hemp Farming Act could remove hemp from the controlled substances list entirely and finally give US industrial growers the go ahead to start producing. Despite hindrances in the US for growers at the federal level, 16 states have legalized hemp for commercial purposes and the US hemp industry grew by 16 percent in 2017.
Meanwhile, back in Canada, the senate passed the Cannabis Act in June 2018, bringing the country one step closer to legalizing the sale of recreational cannabis to adults. The hemp industry might not be directly tied to the recreational cannabis market, but Canadian legalization still means good things for hemp. While THC-rich cannabis will remain tightly regulated, many hemp companies are expecting a loosening of restrictions regarding the use of Canada’s 138,000 acres of hemp. Throughout the legalization process, the Canadian Hemp Trade Alliance (CHTA), which represents nearly 500 members across the industry, has been front and center. The CHTA has has been very successful at lobbying the Canadian government on behalf of the hemp industry.
Canadian legalization has further aided the hemp industry in the form of education and awareness derived from the process. As cannabis in all forms has been on the minds of Canadian consumers, demand for hemp products like CBD oils has risen and created new markets for hemp.
The wide world of hemp products
Hemp might lack THC, but it can be bred to be rich in another important cannabinoid, one that a highly lucrative industry is rapidly growing around. CBD products are increasingly being used in the health and wellness industry to treat chronic pain and an assortment of other conditions and ailments. The market for these products is expected to grow to $2.1 billion by 2020. The regulations around growing hemp are generally less stringent than those for medical and recreational cannabis. The costs associated with growing hemp are also significantly lower than those for THC-rich cannabis. Hemp might well prove a better option for companies in the CBD business.
Hemp has become the next big thing in the health food industry. Rich in omega-3 and omega-6, essential fatty acids, vitamin E, iron, amino acids and more, hemp seeds have been discovered as a superfood. According to Agriculture and Agri-Food Canada, 452 products using hemp as an ingredient launched across the globe between 2008 and 2017, and over 54.7 percent of those products used hemp as a source of protein. The global market for hemp-based foods is expected to have a compound annual growth rate of over 24 percent up to 2022.
Skincare is another up-and-coming hemp industry. When applied topically, CBD has been found to have great benefits for the look, feel and overall health of the skin. Skincare company Evio Beauty Group is just one of the brands that has jumped on the hemp bandwagon, partnering with a licensed producer to incorporate hemp-derived CBD oil into its products.
Hemp is becoming a big part of a range of different industries, from pet food to biofuels to clothing to a host of industrial products. As legislative reform makes hemp easier to legally produce, we can expect hemp to take an even greater role in these and many other industries.
Diversification and stability in hemp
For companies looking to take advantage of regulatory reforms in any part of the cannabis industry, diversification may be the strategy that provides the most value. Since hemp is high in CBD and void of THC, and also significantly easier and less expensive to grow than its cousins, THC-rich cannabis crops will likely be reserved by most growers for recreational use, while most CBD products will be getting their CBD from hemp. It makes sense for cannabis companies to show interest in both marijuana and hemp strains of cannabis.
Additionally, at this time, the hemp industry offers greater stability than the broader cannabis industry. Cannabis is still the subject of a volatile political battle in the US, with the status quo for laws and regulations far from set in stone and wildly different from state to state. Meanwhile, Canada is poised to make recreational adult-use cannabis legal in the summer or fall of 2018, but each province’s cannabis policy can be looked at as a “test lab” with specific regulation open to adjustments and overhauls over the coming years. Hemp, on the other hand, is becoming subject to increasingly less stringent regulation in both of these countries.
Naturally Splendid (TSXV:NSP) has taken notice of the opportunity that hemp presents in the current regulatory climate. The company has invested significant resources in numerous patentable hemp-based food and ingredient products. These include HempOmega, a hemp seed oil-derived omega-rich powder that can be mixed into beverages and foods. The company’s distribution network operates across Canada and the US and its products can be found in 1,500 stores.
Canadian cannabis giant Aurora Cannabis (TSX:ACB) recently signaled its interest in the hemp-CBD game by exercising its option to acquire a majority share of Hempco Food and Fiber (TSXV:HEMP). Hempco is another company looking to make waves in the hemp health food market with a hemp seed oil-based vegan meat substitute that will compete against soy-based burgers.
Phivida Holdings (CSE:VIDA) is among the largest players in the CBD business and like many of the others the company sources its CBD from hemp. The company has diversified its offerings to include CBD-infused iced teas and protein shakes as well as pet products in addition to the standard CBD oils.
All aspects of the cannabis industry should be interesting to investors under today’s climate, but the hemp industry in particular offers diverse utility for some of the industry’s biggest growth areas as well as other consumer and industrial products. Additionally, hemp offers a level of stability not found in other parts of the cannabis industry amid the shifting regulatory landscape.
Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”) an integrated Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, announces the granting of stock options and restricted share units.
The Company has announced that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,000,100 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.16 per common share, expires three years from the date of grant and vest six months from the date of the grant.
The Company has also granted restricted share unit grants, pursuant to the Company’s Restricted Share Unit plan, dated April 1, 2021, totaling 1,548,875 to certain eligible participants.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
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A planned business merger between two leading cannabis producers hit a small delay this week as a critical vote got moved.
Keep reading to find out more cannabis highlights from the past five days.
Tilray delays critical shareholder meeting
On Thursday (April 15), Tilray (NASDAQ:TLRY) announced it will be postponing its shareholder vote on the fate of its merger with Aphria (NASDAQ:APHA,TSX:APHA). It will take place on April 30 instead of April 16.
Neither cannabis company offered an explanation for the change. Tilray has asked shareholders to participate in this vote regardless of how many shares they may hold. “Tilray stockholders who have not already voted, or wish to change their vote, are strongly encouraged to do so,” the company said.
This news came days after Aphria shareholders overwhelmingly voted in favor of the business transaction, with a total of 99.38 percent of shareholders voting for the deal to continue. Confirmation from Aphria Chairman and CEO Irwin Simon indicated the partnership was en route to being complete.
This past week Aphria also released financial results for the third quarter of its 2021 fiscal year, in which the firm highlights the overall direction of the company with the Tilray deal.
“We expect to have a tremendous runway for long-term sustainable growth as we build upon our existing foundation in Canada and internationally by increasing the scale of our global operations,” Simon said in a statement.
Cannabis retailer celebrates digital trend
Bidding for the piece, named “Non-Fungible Toke“ started at a price of C$4.20. The retailer plans to donate the proceeds to two charities, Second Harvest and Less.
The latter is designed to counter the carbon footprint of blockchain technology, a common criticism drawn against the rise of NFTs and other novel technologies.
As of 11:00 a.m. EST on Friday (April 16), the NFT bid was up to C$169.11.
Cannabis company news
- The Valens Company (TSX:VLNS,OTCQX:VLNCF) issued its financial report for the first quarter of its 2021 fiscal year. In its results, the company highlights a net revenue uptick of 24.7 percent from the previous quarter, resulting in C$20 million for the period.
- Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) closed a public offering of 5 million subordinate voting shares at a price of C$50 each for total gross proceeds of C$287.5 million. The company celebrated its financial position after an offering in January, which will lead to the pursuit of merger and acquisition targets.
- Australis Capital (CSE:AUSA,OTCQB:AUSAF) appointed Jason Dyck as its new chief science officer and chairman of the firm’s scientific advisory board. Dyck previously served as an executive at Aurora Cannabis (NASDAQ:ACB,TSX:ACB), leading the scientific efforts for the cannabis producer. “I look forward to providing AUSA with advice and direction in its scientific efforts towards bringing innovations to market with immediate and significant commercial appeal,” Dyck said.
- Truss Beverage, a cannabis drinks venture co-owned by Molson Coors Beverage Company (NYSE:TAP,TSX:TPX) and HEXO (NYSE:HEXO,TSX:HEXO), released the details of its new lineup of infused beverages. Six new drinks will become available around the summer and are intended to pair with the season.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Partnerships with Minardi Law , Minorities for Medical Marijuana, CultivatED, and the Georgia Justice Project will include clinics and virtual events across Florida , Georgia , and Massachusetts
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today a series of expungment clinics located throughout south and central Florida as well as virtual events in Georgia and Massachusetts . The clinics are part of the Company’s celebration of the 50 th anniversary of 420.
During the month of April, Minardi Law has hosted expungment clinics and will be hosting two more as follows:
- Releaf Patient Appreciation Day, April 17 th ( Valrico )
- First Annual 4/20 Event ( St. Petersburg Beach )
At these clinics, an attorney will be present to review records and see if someone is eligible for a sealing or expungment of their records. As part of the events, Trulieve will be helping cover the costs for finger prints, legal fees, and court costs.
Trulieve is working with Minorities for Medical Marijuana (“M4MM”) to host a 4/20 Expungement Clinic, part of M4MM’s Project Clean Slate. This event will take place on Saturday, April 24, 2021 , from 9:30am – 4:30pm at Riviera Beach City Hall. Anyone seeking to take place in this event is required to register in advance at http://trulieve.cc/expungementpreregistration .
In addition, Trulieve is sponsoring the First Friday Series , a weekly virtual event from the Georgia Justice Project to help Georgia citizens with record restrictions, and is also sponsoring the Fellowship Presentation and Expungement Clinic being offered through CultivateEd and GBLS on Friday, April 23 from 3:00pm – 4:00pm . You can register for the Massachusetts expungement clinic in advance here: HTTPS://BIT.LY/2Q655KK
“Our mission as a company has always been to improve people’s lives,” said Trulieve CEO Kim Rivers . “We’ve always been dedicated to improving the communities we call home. Partnering with Minardi Law , Minorities for Medical Marijuana, Georgia Justice Project and CultivatED on these clinics was a simple decision for us; we encourage anyone seeking help with the expungement process to attend one of these clinics in your own state to start the process.”
For more information about Trulieve and the April expungment clinics, please visit www.Trulieve.com .
Trulieve is primarily a vertically integrated “seed-to-sale” company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery. Trulieve also has operations in California , Massachusetts , Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.
To learn more about Trulieve, visit www.Trulieve.com .
SOURCE Trulieve Cannabis Corp.
News Provided by PR Newswire via QuoteMedia
Seth Rogen’s New Cannabis Brand are Now Available at Apothecarium Dispensaries in San Francisco , Berkeley and Capitola
The Apothecarium is offering cannabis from Houseplant, the cannabis lifestyle brand founded by Seth Rogen and Evan Goldberg at its five California dispensaries. The Apothecarium has three San Francisco locations (Castro, SOMA and Marina ) and one each in Berkeley and Capitola (outside of Santa Cruz ).
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values,” said Seth Rogen , Co-Founder of Houseplant. “The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area.”
Houseplant is launching with three flower strains, all of which will be available at The Apothecarium, including: Diablo Wind (sativa), Pancake Ice (sativa) and Pink Moon (indica). Like their founder’s groundbreaking film “Pineapple Express”, Houseplant strains are named after weather phenomena. Each strain will be sold in a custom tin.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers,” said Ryan Hudson , CEO and co-founder of The Apothecarium. “Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests.”
“We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging.”
“Seth has been hands-on during the process, spending time with our store managers to make sure they know the products and how much care has gone into vetting and selecting the best strains. We think our guests are going to love Houseplant.”
About The Apothecarium
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest . Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com [apothecarium.com] .
The Apothecarium is committed to giving back to the communities we serve. We have donated more than $400,000 in cash to community groups and nonprofits — plus more than $300,000 worth of in-kind donations.
All Apothecarium dispensaries continue to implement safety measures to protect guests and team members. Protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.
CA Licenses: C10-0000523-LIC; C10-0000522-LIC; C10-0000515-LIC, C10-0000738-LIC, C10-0000706-LIC
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MISSISSAUGA, Ontario TheNewswire – April 16, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (CNSX:SIRE.CN) (“SIRE” or the “Company”) announces that Brian Nugent has resigned as a member of the Company’s board of directors (the “ Board ”). It has been a pleasure and a blessing to have worked with Brian Nugent over the past few years, his business acumen and tremendous experience will certainly be missed, SIRE wishes him nothing but the best in all his future endeavors.
About Sire Bioscience
SIRE is headquartered in Mississauga, Ontario with its wholly owned subsidiary PLANTFUEL® based in Denver, Colorado. SIRE is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. SIRE is a CPG life science company focused on the plant-based foods and supplements industry.
For additional information contact:
Sire Bioscience Inc.
Copyright (c) 2021 TheNewswire – All rights reserved.
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