International – MJ Shareholders https://mjshareholders.com The Ultimate Marijuana Business Directory Tue, 04 Oct 2022 18:45:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 Decibel Announces International Expansion of Qwest Brand https://mjshareholders.com/decibel-announces-international-expansion-of-qwest-brand/ Tue, 04 Oct 2022 18:45:08 +0000 https://www.cannabisfn.com/?p=2964562

Ryan Allway

October 4th, 2022

News, Top News


CALGARY, ABOct. 4, 2022 /CNW/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSX-V: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce it has secured an on-going supply agreement with Breath of Life International Ltd. (“Breath of Life” or “BOL”) to launch Decibel’s Qwest brand and cannabis products in Israel. The supply agreement is for $4.8 million of premium cannabis product, with the first shipment expected in the fourth quarter.

Decibel Cannabis Company Inc. (CNW Group/Decibel Cannabis Company Inc.)
Decibel Cannabis Company Inc. (CNW Group/Decibel Cannabis Company Inc.)

“We are excited to partner with Breath of Life, a leading licensed producer with extensive distribution presence, in the Israel market, that echoes Decibel’s commitment to quality. Not only will this unlock a strong partnership and a new market for Decibel’s craft cannabis products, it also sets the stage for the Qwest brand to develop international recognition and additional consumer exposure,” said Adam Coates, Chief Revenue Officer.  “As international cannabis markets expand, we’ve seen a clear demand for premium and consistent quality. To be recognized by international cannabis companies and consumers is exceptionally gratifying for Decibel. This is the first step into international markets, with more to come.”

“The Decibel team and Qwest brand have a reputation for the highest quality cannabis products, premium positioning as well as, favoured status with Canadian cannabis connoisseurs. With a growing demand in the international market for higher quality, Canadian made cannabis, Qwest was the natural choice and we are excited to partner with Decibel” said Breath of Life CEO, Kfir Avraham.

Key Highlights

  • On-going arrangement for the expansion of the Qwest brand to first international market
  • Initial $4.8 million supply agreement with first shipment expected to be delivered in Q4 2022
  • Partnership with the premier cannabis company in Israel with significant entrenched distribution channels

“The Qwest brand enjoys popularity in the Canadian premium market, and also global awareness as legalized cannabis markets develop.” Said Paul Wilson, CEO of Decibel. “As Decibel continues to experience record performance in Revenue, EBITDA, gross margin and market share, the combination of a stable growing Canadian LP with a dominant premium brand attracted international business attention and opportunity. We are thrilled to partner with BOL and look forward to a long relationship.”

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, that are sold in six provinces across Canada. Thunderchild Cultivation, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.

About Breath of Life

Breath of Life has been pioneering the creation of the medical cannabis industry in Israel since 2007 in innovation, development and product quality. BOL is a leader in the fields of growing, marketing, and distributing medical cannabis in Israel. The company’s sales strategy relies on deep understanding of the Israeli consumer taste and exclusive marketing rights of top global cannabis brands. BOL is committed to serving patients with quality products that will further improve their quality of life. In parallel, BOL is pursuing its development programs for cannabis-based wellness products.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the financial impact of the BOL supply agreement; expectations with respect to the impact the BOL supply agreement will have on the Company’s business; expectations regarding international markets and the Company’s position therein; the Company’s expectations with respect to the future growth of key financial measures; the Company’s ability to grow its brands into new and innovative product formats, variations and other business plans and expectations.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: satisfaction of all international regulatory requirements, including applicable product testing; risks relating to delays; other regulatory changes and impacts; capital requirements; construction impacts; displacement requirements; unforeseen requirements resulting from the COVID-19 pandemic and other global macro-economic events, conditions and factors; the ability to obtain and maintain licenses to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licenses (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis, international export rules and regulations; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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NeonMind And BioScript Solutions Announce Strategic Partnership Expanding NeonMind’s Specialty Clinic Network For Interventional Psychiatry Treatments https://mjshareholders.com/neonmind-and-bioscript-solutions-announce-strategic-partnership-expanding-neonminds-specialty-clinic-network-for-interventional-psychiatry-treatments/ Thu, 03 Mar 2022 14:50:52 +0000 https://www.cannabisfn.com/?p=2939475 VANCOUVER, BC / ACCESSWIRE / March 3, 2022 / NeonMind Biosciences Inc. (CSE:NEON)(OTCQB:NMDBF)(FRA:6UF) (“NeonMind” or the “Company“), an integrated drug development and wellness company focused on bringing innovative psychedelic-based treatments to people suffering from obesity and mental health disorders, announced today a strategic partnership with BioScript Solutions, a Canadian leader in specialty care. Under the terms of the partnership, NeonMind and BioScript Solutions will leverage BioScript Solutions’ extensive national network of community-based infusion clinics to expand access to NeonMind’s interventional psychiatry and unique treatment programs for Canadians.

Since 2001, BioScript Solutions’ clinical network has been providing patients with a safe, comfortable environment to receive specialty therapies for chronic health conditions. With over 100 conveniently located clinics across the country, run by a team of highly experienced nurses, BioScript remains committed to being at the forefront of innovative patient care. NeonMind expects to select and announce its first location within BioScript Solutions’ network in the first half of 2022. The Company expects to provide care through additional clinic locations throughout 2022, expanding to further locations and services in 2023 and beyond.

“We are thrilled to advance the development of our specialty clinics division through our partnership with BioScript Solutions,” said Robert Tessarolo, President & CEO of NeonMind. “We now have multiple strategic partnerships in place with leading specialty care providers and have built an enhanced clinic network with greater reach. This positions us well to identify and open high-impact clinic locations that will serve local community needs and expedite our time to market. We look forward to working with BioScript Solutions to bring the therapeutic benefits of interventional psychiatry including evidence-based innovative therapies such as psychedelic modalities to mental health patients across the nation.”

Commenting on the partnership, Chris Dalseg, Vice-President Strategic Growth and Marketing of BioScript Solutions, said, “This partnership with NeonMind is part of our ongoing mission to simplify access to specialty care for Canadians from coast to coast, and directly within their own communities. Mental health continues to be a growing global health concern, and we are thrilled to be able to continue expanding the breadth of our services supporting NeonMind’s novel approach to mental health treatments.”

About BioScript Solutions®

For over 20 years, BioScript Solutions has been committed to helping people with chronic illnesses achieve the best possible health outcomes. With our total care approach, we simplify access to complex drug therapies and deliver full-service specialty care solutions at every stage of the patients’ treatment journey. Through our logistics and distribution operations, specialty pharmacies, patient support programs and clinical services, BioScript Solutions® has the capability to manage the needs of manufacturers, payors, prescribers, and health care practitioners across Canada ― today, and tomorrow. To learn more, please visit www.bioscript.ca.

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind and its strategic partners are building NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-based innovative interventional psychiatry treatments to address a variety of mental health needs. For more information on NeonMind, go to www.NeonMindBiosciences.com.

Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.
[email protected]
Tel: 416-750-3101

Investor Relations:
KCSA Strategic Communications
Scott Eckstein/Tim Regan
[email protected]
Tel: 212-896-1210

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

SOURCE: NeonMind Biosciences Inc.

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Top Marijuana Stocks To Buy In November? 2 Global Companies For List Right Now https://mjshareholders.com/top-marijuana-stocks-to-buy-in-november-2-global-companies-for-list-right-now/ Fri, 19 Nov 2021 12:45:30 +0000 https://marijuanastocks.com/?p=50419 Investing In The Global Cannabis Market In 2021

The post Top Marijuana Stocks To Buy In November? 2 Global Companies For List Right Now appeared first on Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™.

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The International Cannabis Trade: The Webinar Video Replay https://mjshareholders.com/the-international-cannabis-trade-the-webinar-video-replay/ Wed, 11 Mar 2020 04:44:47 +0000 https://www.cannalawblog.com/?p=33690
Not able to join our panelists last week for their talk about the international cannabis trade? We’ve got you covered! Below, please find the full presentation for your viewing pleasure.

In the near future, we also plan to put together a follow-up post answering questions we didn’t have time for during the event. Stay tuned!

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As China’s Hemp Industry Suffers, U.S. Hemp Growers Prepare to Pounce https://mjshareholders.com/as-chinas-hemp-industry-suffers-u-s-hemp-growers-prepare-to-pounce/ Tue, 03 Mar 2020 16:44:35 +0000 https://www.cannalawblog.com/?p=33633 china hemp

The U.S. hemp market continues to heat up for a variety of reasons, mainly because the general populace is finally starting to understand the difference between cannabis as marijuana and cannabis as hemp (and the benefits of CBD and other cannabinoids derived from cannabis). In this post I’ll discuss why China’s pain can be U.S. hemp producers’ gain.

Basic principles of economics dictate that in the U.S. hemp market where demand stays constant (or increases) and supply decreases due to something like a coronavirus in China, the price of that good increases (sometimes substantially), enriching existing suppliers and drawing more suppliers into the market.

And it is also true that where there is available supply (U.S.) with the same or better good that can make up for the decreased market supply without substantially increasing the cost of that good, those suppliers will fill the void, equalizing supply and demand. China’s export-led hemp industry, with its normally outsized international presence, is no exception.

U.S. hemp producers happen to be 7,000 miles closer to the U.S. market than Chinese hemp producers. And do not forget that China’s hemp industry is only now starting to diversify from its industrial hemp products into consumer hemp products, so many U.S. hemp producers and extractors are ahead of their Chinese competitors.

Virtually all of China’s industries have been hit hard by the effects of the novel coronavirus (COVID-19). China is still basically on lockdown due to COVID-19, which means that most businesses are hobbling at best as they try to comply with government directives to get workers back to the factories and get production back up to capacity, with all of the attendant problems you can imagine in trying to do so under a nationwide epidemic.

But Chinese farms keep producing hemp, which will lead to a glut of raw and finished products in certain industries. These products require an export market; China has no significant domestic market to absorb its hemp production. This export bottleneck is less of an issue in one of China’s hemp centers in northeast Heilongjiang Province, where the average temperature in winter hovers barely above 0 degrees. But it certainly matters in China’s other hemp center of southwest Yunnan Province where its average temperature in winter is comfortably above freezing and has multiple growing seasons.

I recently read a good article in Hemp Industry Daily that said U.S.-based hemp growers will not be the only ones to benefit from China’s current virus-related meltdown and trade friction. It said, “this newest issue underscores the vulnerabilities in the global marketplace that vape and other cannabis and hemp companies rely on for products ranging from LED lighting to packaging supplies.”

Two of my co-authors, Adams Lee and Griffen Thorne, provided insight on that topic almost a year ago (see here). So opportunities also abound for cannabis-related companies to renegotiate contracts with Chinese suppliers, many of whom have already started reneging on current contracts as they point to force majeure clauses in their contracts.

And as I mentioned in a prior blog post, U.S.-based hemp companies need all of the good news they can get as they try to compete with China, but it will probably not come from the Phase One trade deal:

When the trade agreement was made public, some honed in on the appearance of hemp in the trade agreement, the relatively recently de-scheduled industrial crop in the U.S., thanks to the 2018 Farm Bill (Agricultural Improvement Act of 2018). One prominent marijuana publication published an article the day after the trade agreement was made public, on January 16, claiming that, “China Must Import More Hemp From U.S. Under New Trade Deal.” That is an overly generous interpretation of the trade agreement. . . The short gloss is that China may buy more hemp from the U.S. under the new trade deal, but China is definitely not obligated to buy more (or any) U.S. hemp as a result of the trade deal.

As one economics professor described to me recently, “The phase one trade deal is basically dead.” That reality, coupled with the current COVID-19 pain, means that China will be offline for some time to come, and that means U.S. hemp producers prepared for export markets will find less competition in the international marketplace.

If you are interested in keeping up with China-focused legal developments, check us out on our multiple award-winning China Law Blog.

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Free Lunch-Time Webinar TOMORROW: The International Cannabis Trade https://mjshareholders.com/free-lunch-time-webinar-tomorrow-the-international-cannabis-trade/ Tue, 03 Mar 2020 16:44:33 +0000 https://www.cannalawblog.com/?p=33642

international cannabis

Best practices for navigating the international cannabis trade has been an in-demand topic for our business and international trade attorneys over the past year. The industry is rapidly expanding and many are eager to get in on the action early. However, being first to the table means being first to traverse the landscape of elaborate, ever-changing regulations and standards. This is where we thrive!

Tomorrow’s webinar on Wednesday, March 4th at 12pm PST features attorneys Adams Lee (Seattle), Griffen Thorne (Los Angeles), Nathalie Bougenies (Portland), and Vince Sliwoski (Portland) as they examine this growing industry sector. Topics of discussion will include:

  • The treatment of cannabis (both marijuana and hemp) under international law;
  • Import and export of medical marijuana, including customs issues;
  • Import and export of hemp and CBD products, including customs issues;
  • Considerations around foreign direct investment in U.S. cannabis businesses; and
  • Your questions!
Whether you can attend live or not, please register here and submit your questions when you register! Adams, Griffen, Nathalie, and Vince will do their best to field them.  A recording of the webinar will also be made available afterwards on the blog.
Before then, be sure to do your homework and read up on our extensive blog posts about international cannabis trade here.
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Hemp CBD Across Europe: The United Kingdom https://mjshareholders.com/hemp-cbd-across-europe-the-united-kingdom/ Wed, 26 Feb 2020 20:45:26 +0000 https://www.cannalawblog.com/?p=33457 hemp cbd united kingdom england

The enactment of the 2018 Farm Bill and the legalization of hemp and hemp derivatives, including cannabidiol (“CBD”), has led to a massive CBD craze in the United States. The highly coveted cannabinoid is infused with everything: bath bombs, dog treats and even workout clothes (yes, workout clothes!). According to a recent study by Cowen, the sales of these products are expected to reach $16 billion by 2025.

Thanks to globalization, this sudden boom is not contained within the U.S. borders. Europe has also experienced a huge uptick in the sales of these products, which are expected to reach nearly $1.7 billion by 2023.

In light of this global expansion and the desire of many of our clients to export their hemp and hemp-derived CBD (“Hemp CBD”) products to Europe, we are presenting a mini-series that briefly analyses how certain European countries treat hemp and the sale and marketing of hemp-derived CBD. We begin by analyzing the laws of the United Kingdom (“UK”).

Hemp

Because industrial hemp falls under the definition of genus Cannabis, UK law treats it as a controlled drug in Class B of The Misuse of Drugs Act 1971 (“MDA”) and Schedule 1 of The Misuse of Drugs Regulations 2001 (“Regulations”). Under these Regulations, a license must be issued in order to lawfully cultivate the crop.

As a former European Union member, the UK limits the lawful cultivation of hemp strains to those found in the European Commission’s catalogue, all of which produce no more than 0.2% THC. Generally, UK law also requires that hemp from “third countries”’ be imported under a license.

Although hemp cultivation is lawful, UK farmers are prohibited from processing hemp flowers and leaves, where the highest CBD content can be found. Consequently, the processing of hemp into CBD oil is not permissible, forcing the country to heavily rely on the importation of CBD to sustain the market. In addition, the sale of CBD flowers and buds is strictly prohibited in the country even if the THC concentration is below 0.2% and from EU-approved origin.

Hemp CBD Products

In the UK, Hemp CBD products may be commercially sold so long as they:

  1. contain no more than 1 mg (0.01%) of THC and/or of any other controlled cannabinoid, such as THC-V; and
  2. make no health claims about their therapeutic values.

Other requirements may apply based on the category of products at issue.

Hemp CBD Foods

As we recently discussed, the Food Standard Agency (“FSA”), the agency responsible for protecting public health in relation to food in the UK, recently cleared a path for the sale of Hemp CBD food. Specifically, the FSA is giving the CBD industry until March 31, 2021 to submit valid novel food authorization applications to ensure these products meet specific safety standards. Following the March 31, 2021 deadline, only products for which a valid application has been submitted will be allowed to remain on the market. Therefore, for now, the sale of CBD-infused foods is lawful in the UK so long as these products are:

  1. Properly labeled, including free of health claims;
  2. Safe to consume; and
  3. Only contain low/negligible amounts of THC or other controlled substances (i.e., no more than 1 mg).

Hemp CBD Cosmetics

There are no regulations that pertain to the sale and marketing of Hemp CBD cosmetics in the UK. However, even following its exit from the EU, the country strictly regulates the sale of all cosmetics pursuant to the EU Cosmetics Regulation. For more information on these regulations, you can visit the Cosmetic, Toiletry and Perfumery Association (“CTPA“), the trade group that aims to regulate the cosmetic industry and educates consumers about the safety of these products.

Hemp CBD Vape Products

Similarly to US regulations, vape products may be subject to regulation by various governmental agencies depending on their purpose, how they are being used, and whether they contain nicotine and/or tobacco. As of now, no agency has issued Hemp CBD regulations for the sale and marketing of vaping products. All we know, thanks to the Medicines and Healthcare products Regulatory Agency (“MHRA”), is that Hemp CBD vaping products are “less tightly regulated” and that these products should not contain any health claims.

Hemp CBD Pet Foods and Products

Hemp CBD Pet food and pet products are treated as veterinary medicines and thus would require a license before they can be lawfully sold in the UK. There are currently no Hemp CBD products licensed for veterinary use, which means the sale and marketing of these products is unregulated at best, and unlawfully at worse.

So, unlike in the US, the sale and marketing of Hemp CBD foods is the safest category of products a CBD company may sell right now given the fairly clear regulations implemented by the FSA – assuming their products meet all requirements imposed on these products, including no more than 1 mg THC per product.

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The Sale of CBD Foods Is Legal in the UK (For Now) https://mjshareholders.com/the-sale-of-cbd-foods-is-legal-in-the-uk-for-now/ Sat, 22 Feb 2020 06:44:48 +0000 https://www.cannalawblog.com/?p=33435 united kingdom cbd food

Last week, the Food Standard Agency (“FSA”), the agency responsible for protecting public health in relation to food in England, Wales and Northern Ireland (collectively, the “UK”), cleared a path for the sale of CBD-infused food for the next 12 months.

Specifically, the FSA is giving the CBD industry until March 31, 2021 to submit valid novel food authorization applications to ensure these products meet specific safety standards. Following the March 31, 2021 deadline, only products for which a valid application has been submitted will be allowed to remain on the market.

Although the UK recently severed its ties with the European Union, the FSA has opted to align its policy with that of the European Food Safety Authority (“EFSA”). The EFSA guidance on cannabinoids strongly echoes the U.S. Food and Drug Administration (“FDA”)’s in that it mandates that all food products infused with hemp or its derivatives receive a pre-market approval under the European Union “novel food” regulation because these products were not significantly used as a food or food ingredient before May 15, 1997.

According to the reporting of Hemp Industry Daily, CBD companies wishing to sell into the UK market will send approval plans to the EFSA through the end of 2020, at which point all applications will be transferred to the FSA.

So for now, the sale of CBD-infused foods is lawful in the UK so long as these products are:

  1. Properly labeled, including free of health claims;
  2. Safe to consume; and
  3. Do not contain THC or other controlled substances.

Despite the fact that the FSA gave the green light on the sale of CBD-infused foods, the agency also warned consumers about its potential side effects.

Based on a scientific report issued by the country’s Committee on Toxicity of Chemicals in Food, Consumer Products and the Environment (“COT”), the FSA guidelines warn pregnant and nursing women “not to consume CBD products” and recommends that healthy adults limit their daily dosage to no more than 70 milligrams, which is the equivalent of 28 drops of 5% CBD oil.

After reviewed scientific data of Epidiolex previously used by European and foreign health authorities, including the FDA, for the approval of the drug, the COT concluded that because the data was intended for pharmaceutical and not over-the-counter use, the “trade-off between risks and benefits that does not apply to food.”

Therefore, in drafting this new policy, the FSA opted for a pragmatic approach that balances the consumer demand for CBD-infused food products with the protection of public health and provides much needed clarification about the legality of selling and marketing CBD-infused foods.

That being said, the guidelines also create some serious challenges for the industry. Indeed, the novel food application process is a demanding and onerous process. Unless a blanket authorization will cover each end-form of CBD (this issue has yet to be clarified by the FSA), this would mean that only a handful of CBD companies could afford applying. This, in turn, would consolidate these products and offer a monopoly to the companies that manage to secure an approval.

Nevertheless, the FSA guidelines are a step in the right direction because they  encourage the Hemp-CBD industry to work together, educate and advise, but also set an example for other regulatory agencies, including the FDA, in forging a clear path for the sale and marketing of these products around the globe.

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The International Cannabis Trade: FREE Webinar March 4! https://mjshareholders.com/the-international-cannabis-trade-free-webinar-march-4/ Tue, 11 Feb 2020 20:44:48 +0000 https://www.cannalawblog.com/?p=33346 international cannabis marijuana

In the past year or so, we have seen a remarkable uptick in requests for advice and legal services related to the international cannabis trade. Our business and international trade attorneys continue to blaze trails with clients from all over the world on import/export agreements, foreign direct investment, compliance, customs issues and everything in between. Things are evolving very fast.

This webinar will be hosted by Harris Bricken attorneys Adams Lee (Seattle), Griffen Thorne (Los Angeles), Nathalie Bougenies (Portland) and Vince Sliwoski (Portland). The format of the webinar will cover:

  • The treatment of cannabis (both marijuana and hemp) under international law;
  • Import and export of medical marijuana, including customs issues;
  • Import and export of hemp and CBD products, including customs issues;
  • Considerations around foreign direct investment in U.S. cannabis businesses; and
  • Your questions.

Register here to join us on Wednesday, March 4 at 12pm PST.

If you cannot attend, feel free to register anyway and submit questions prior to the event. Adams, Griffen, Nathalie and Vince will do their best to field them, and we will post a recording afterward here on the blog.

We hope to see you March 4! In the meantime, check out our extensive series of international cannabis blog posts, which can be found here.

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What To Consider Before Entering the European CBD Market https://mjshareholders.com/what-to-consider-before-entering-the-european-cbd-market/ Mon, 03 Feb 2020 22:44:30 +0000 https://www.cannalawblog.com/?p=33235 europe cbd

This past year, the cannabidiol (“CBD”) craze has taken the world by surprise, showing remarkable prospect for economic growth.

According to BDS Analytics and Arcview Market Research, the CBD market is expected to surpass $20 billion by 2024 in the United States alone. Europe has also witnessed a huge demand for the most coveted cannabinoid, whose market, Brightfiled Group predicts, will grow by 400% by 2023.

Unlike the U.S. CBD market, the European CBD market is just beginning to take hold with both product availability and consumer awareness being quite limited. Consequently, Europe offers great opportunity for U.S. CBD brands to enter and expand their existing business in a less competitive atmosphere. Nevertheless, entering the European market is not as easy as it may seem.

European markets are complex, particularly when it comes to hemp-derived CBD (“Hemp CBD”). Indeed, the Old Continent is composed of 44 countries, 28 of which are member states, that have adopted 24 different languages and apply their own sets of laws and regulations. With this in mind, we now turn to the three main challenges international Hemp CBD players should consider before venturing into the European Hemp CBD market.

  1. Novel Food Regulations 

The main challenge in selling Hemp CBD products in Europe is that the European Foods Safety Authority (“EFSA”) has classified the most coveted cannabinoid as a “novel food” ingredient. “Novel food” is “food that was not used for human consumption to a significant degree within the Union before 15 May 1997, irrespective of the dates of accession of the Member States to the Union.” Pursuant to EU regulations, anyone who wishes to sell food containing a “novel food” ingredient must first secure a license from the EFSA.

Although the European Industrial Hemp Association and the Cannabis Trades Association have challenged this guidance, a handful of European countries such as Spain, Italy, and Austria have already taken enforcement actions against Hemp CBD products on the basis of being “novel foods.” Therefore, much uncertainty remains regarding the legality and regulation of these products.

  1. Different Laws and Regulations

Another challenge associated with entering the European market is the fact that each country is implementing its own set of rules and regulations pertaining to importation, manufacturing, testing requirements and distribution. Of particular relevance to the Hemp CBD industry is the lack of clarity or consistent guidance regarding the acceptable levels of THC in Hemp CBD products. For instance, the United Kingdom authorizes the sale of products with a THC concentration of less than 0.1% whereas the Netherlands and Switzerland allow products that contain less than 1% THC.

  1. Different Languages

Foreign Hemp-CBD manufacturers and distributors will also need to ensure that their product labels comply with varying labeling and marketing laws. Take for example Belgium. Although the country is only composed of roughly 11 million inhabitants, it has adopted three official languages: French, Flemish (a Dutch dialect) and German. Consequently, any label of products imported to Belgium must be written in all three languages.

To shed additional light on these considerations, our firm will soon present a blog post series of some of Europe’s Hemp CBD laws. Stay tuned!

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