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Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week

August 31, 2020 10:43 am
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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 24th – 30th, 2020.

Without further ado, let’s get started.

Yahoo Finance readers, please click here to view full article.

10. How and Why Psychedelics Created the Silicon Valley Phenomenon

Psychedelics Have Been More Deeply Entrenched in Our Current Culture Than We Have Previously Believed

Psychedelics came about as a result of the counterculture influence of LSD that began in the late 1960s. Not long after, businesses that would go on to change the world Such as Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT), began putting down their roots in Silicon Valley.

READ FULL SILICON VALLEY ARTICLE

9. The U.S. Cannabis Industry Is Poised to Get a Long-Term Tailwind from COVID-19

On its Q2 Earnings Call, Innovative Industrial Properties’ Management Discussed How the Pandemic is Affecting the U.S. Marijuana Market

Innovative Industrial Properties (NYSE:IIPR) and its continued robust financial performance in 2020 has helped propel its IIPR stock to return 70.9% this year. Earnings releases only tell part of the story, however. Management often shares valuable information on the analyst conference calls that follow a company’s release of its financial results. Indeed, that was the case with IIP’s second-quarter earnings call. Here are three key things from that call that you should know:

READ FULL U.S. CANNABIS INDUSTRY ARTICLE

8. Champignon Brands’ CRTCE Clinic to Begin Offering Esketamine Treatment for Adults with MDD

The Company Also Provided an Update on Continuous Disclosure Review and Interim Financial Statements

Champignon Brands (OTCQB:SHRMF) announced that the company has expanded its rapid-onset treatment service to include Major Depressive Disorder (MDD). Champignon’s flagship clinic, the Canadian Rapid Treatment Centre of Excellence (CRTCE), will now offer Esketamine treatment for adults with MDD.

READ FULL CHAMPIGNON BRANDS ARTICLE

7. House to Vote on Historic Marijuana Legalization Bill Next Month, Leadership Announces

The House Will Be Voting on a Comprehensive Marijuana Legalization Bill in September, Congressional Leadership Confirmed on Friday

While the floor vote has not yet been scheduled, Majority Whip James Clyburn (D-SC) said in an email blast to members that the chamber is “expected” to take up the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act during the “September work period.”

READ FULL MARIJUANA LEGALIZATION ARTICLE

6. Former Actavis Head of M&A Joins Psychedelics Company as CEO

Pharma Veteran Doug Drysdale Has Joined Psychedelics-Focused Life Sciences Company Cybin Corp

Drysdale will serve as CEO, bringing to the table more than 3 decades of experience in the health care sector.

READ FULL CYBIN CORP ARTICLE

5. Legal Pot Spending Beat Black Market for First Time in Q2

Canadian Household Spending on Legal Cannabis in Q2 2020 Outpaced the Illicit Market for the First Time, Marking a Significant Milestone for the Licensed Pot Industry

Statistics Canada said Friday that Canadian household spending on recreational Cannabis reached $648 million in the second quarter of 2020, an increase of 74% from the same period last year. Meanwhile, spending on medical cannabis was flat at $155 million in the second quarter, StatsCan said.

READ FULL CANADA CANNABIS ARTICLE

4. ‘A Hail Mary’: Psychedelic Therapy Draws Veterans to Jungle Retreats

Some Indigenous Communities Regard the Brew, Which Contains the Hallucinogen DMT, as a Powerful Medicine That Keeps Them Spiritually Resilient and in Harmony with the Natural World

Ayahuasca, a vomit-inducing hallucinogenic brew, draws thousands of people each year — including former soldiers — to jungle retreats that have become an unlicensed and unregulated mental health marketplace.

READ FULL AYAHUASCA ARTICLE

3. Joe Biden Needs To Evolve On Marijuana Legalization, Congressional Cannabis Leader Says

The Congressional Cannabis Caucus Co-Chair Appeared on Revolt TV and Was Interviewed By Former Minority Cannabis Business Association President Shanita Penny

Democratic presidential nominee Joe Biden is going to need to evolve on Marijuana policy and support legalization, Rep. Barbara Lee (D-CA) said during a recent interview.

READ FULL JOE BIDEN ARTICLE

2. The First Canadian to Legally Consume Psilocybin for Medical Purposes Shares His Experience

On the Night That Thomas Hartle Became the First Canadian to Legally Consume Psilocybin for Medical Purposes, Dr. Bruce Tobin, a Psychotherapist and Professor at the University of Victoria, Shared a Cab with Filmmaker Randall “Peg” Peters

Thomas Hartle, a father of two and an IT professional of 25 years, had never taken Psilocybin — a Psychedelic drug derived from Magic Mushrooms — in his life. That night, back at the Hartle household, Hartle enjoyed the best sleep he’s had since receiving his terminal cancer diagnosis four years ago. In the week that has passed since that dose, Hartle hasn’t had a single anxiety attack, he said, a personal record.

READ FULL PSILOCYBIN ARTICLE

1. Florida Medical Marijuana Sales Expected to Rise as Edibles Approved

The State Health Department Has Issued Long-Awaited Edible Production Rules, and Medical Cannabis Operators Are Already Champing at the Bit

Florida’s fast-growing, three-quarters-of-a-billion-dollar medical Cannabis market is about to experience another surge in sales – this time from Edibles.

READ FULL FLORIDA EDIBLES ARTICLE

Photo by Matteo Paganelli on Unsplash


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