Market Overview

Canadian Government Earmarks $18.5M For Cannabis Research, Education

Canadian Government Earmarks $18.5M For Cannabis Research, Education

The Canadian government is setting aside about C$25 million ($18.5 million USD) to fund cannabis research, according to Bill Blair, the country’s Minister of Border Security and Organized Crime Reduction.

What To Know

Blair was the driving force behind the Cannabis Act during this tenure as a Member of Parliament.

“[It's] critical to ensure Canadians have the information they need about cannabis as part of our public health approach to legalization,” he said in a Wednesday evening tweet, announcing the funding for research around “the health impacts and potential benefits of cannabis.”

Beyond the generation of scientific knowledge for the sake of science, these projects are intended to help develop “evidenced-based policies and regulations around cannabis use,” Blair explained during a speech at the University of Calgary.

Why It's Important

Among the studies that will be conducted at the university, there’s one focused on cannabinoid hyperemesis syndrome (CHS). There is little known about this ailment, but data suggests it manifests as an intolerance to cannabis in long-term marijuana consumers.

“Experiencing Cannabinoid Hyperemesis Syndrome has been challenging physically and mentally," Alice Moon, Director of Communications for Blunt Talks and vocal advocate for CHS awareness told Benzinga.

“I’ve desperately been searching for more information but there’s a major lack of research on CHS. I am beyond excited to hear that Canada is going to be leading the charge with research on this controversial topic. Canada’s dedication to education is groundbreaking and I think it’s going to inspire more doctors worldwide to study the topic as well.”

By means of conclusion, Sairam Raman, VP of marketing for Canada-based financial media company SmallCapPower, told Benzinga “It’s great to see the Canadian public sector making a concerted move towards public awareness of cannabis and matching the efforts of companies (…) who have contributed academic research studies in this area. This will lend credibility and growth to the sector.”

Blair also announced students will be developing a cannabis education program.

“For many years all we could tell our kids was ‘just say no,’ now we can start telling our kids, 'think,'" said Blair. “Just think about the science, the evidence, the impact on your life. The potential harms and risks for your decisions. And those choices need to come from sources they trust.”

Related Links:

Canada Gets World's First Inverse, Leveraged Cannabis ETFs

New Report Says US Cannabis Market Could Hit $22.7B By 2023, New York And Massachusetts To Emerge As Leaders


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Posted-In: Alice Moon Bill BlairCannabis Government News Regulations Global Markets Best of Benzinga

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