Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week
Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana and Psychedelics industry news stories for the week of April 6th – 12th, 2020.
Without further ado, let’s get started.
Recently, a new question has emerged. Could cannabis play a role in helping treat Coronavirus patients? Canadian doctors are already looking into it, and the U.S. federal government just announced they’re willing to pay researchers up to $100k to find out.
Thanks to recent advancements in psychedelic medicine, there’s renewed hope and optimism surrounding the deadly opioid epidemic. ATAI Life Sciences, DemeRx and MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM) are waging war against opioid addiction By utilizing this one little-known Psychedelic substance.
With the share prices of so many Cannabis Stocks crushed down near 52-week and all-time lows, their cost of capital has greatly increased, making both capital raising and stock-based transactions far less feasible.
Champignon Brands (CSE:SHRM) (OTC: SHRMF) (FRA: 496) announced it has entered into a definitive agreement to acquire 100% of AltMed Capital Corp. AltMed is a preeminent Canadian Ketamine clinic operator, psychedelic medicine IP aggregator and novel drug discoverer. AltMed’s Psychedelics clinic is licensed by Health Canada to dose eligible patients with Psilocybin and is the only clinic in Canada able to perform Psilocybin doses under Health Canada approval.
Adult-use and medical marijuana stores in Oregon sold $84.5 million in products in March, a record for any month, as the market got a boost from coronavirus-driven purchases.
Ontario’s cannabis regulator has received nearly 900 Retail Operator License (ROL) applications for marijuana stores since it opened up the process to all comers on Jan. 6.
If 2019 was a tough year for the cannabis industry, 2020 could be downright catastrophic. However, as bad as things look today, the industry may get stronger as a result of the COVID-19 pandemic. Here are three ways the marijuana industry may actually get stronger as a result of the coronavirus.
Due to the COVID-19 outbreak, the Alcohol and Gaming Commission of Ontario (AGCO) is authorizing cannabis retail stores in Ontario to offer delivery and curbside pick-up services.
A congressman says he’s working to include provisions to allow marijuana businesses to access banking services in an upcoming COVID-19 stimulus package.
Charlotte Figi suffered her first seizure when she was three months old and on Wednesday, her mother’s Facebook page updated a previous post to announce “she is seizure free forever.” Charlotte was hospitalized earlier this month due to pneumonia, causing her seizures to return and resulting in respiratory failure and cardiac arrest. She died on April 8, 2020. In 2011, the Stanley brothers founded a namesake company, Charlotte’s Web (TSX:CWEB) (OTCQX: CWBHF) CBD, in her honor.
Rest in peace Charlotte
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