NEWSLETTER | 22 August 2022
High Court Challenge Could See Ireland Lift Blanket Ban On CBD Products By October
With some indication that the Government had previously considered amending the legislation allowing for the sale of some CBD products, which would most likely have had to factor in some permitted level, the State’s position is now a hard ‘no’ to any level of THC.
Stakeholders across Ireland, and indeed the EU, will be paying close attention to this judgment. Some indications point towards cause for optimism come the end of October.
As the medical cannabis industry is gaining traction in Europe, we interviewed Oskare Fund founders
An interview with Óskare Capital, the first Irish-based medical cannabis investment fund. Óskare’s focus is investing in startups across the entire medical cannabis value chain. However, it does not invest in cannabis production or recreational cannabis.
Click here to watch our interview with the Óskare team.
Cannabis Doctors Australia launch crowdfunding campaign with big ambitions
One issue, faced by growing cannabis businesses, is access to capital through investment. Enterprise Ireland has, for now, ceased investing in CBD businesses (and hemp in general) due to regulatory uncertainty in the space, with institutional investors generally holding back for similar reasons.
One solution is equity crowdfunding. We are yet to see a crowdfunding raise involving an Irish cannabis company, or through an Irish platform. Seedrs, one of the UK’s largest equity crowdfunding platforms, has proven to be a successful source of investment for cannabis related companies.
Cannabis giant Canopy Growth posts $2B quarterly loss
A reminder of how unprofitable legal cannabis has been to date. Not only is investors’ money being flushed down the drain, so is a significant amount of legally produced cannabis. This trend is expected to continue until the European and US (on a federal level) markets fully open up.
The European market, although years behind North America, will benefit from learning from these mistakes. The last few years have been a financial disaster for the large Canadian LPs (licensed producers) and for those who invested in them.
JuicyFields’ Alleged Ponzi Scheme May Be The Biggest Scam In The Cannabis Industry
There’s more than one way to lose money in the emerging global cannabis industries. This time, as part of a blatant fraud. This is unlikely to be the last we see of such scams. Would be investors should be on notice of the signs to watch out for.
South African project demonstrates hemp’s potential to upgrade existing buildings
“The privately financed project will serve as a showcase for industrial hemp in South Africa, setting the benchmark on how to build a safe, carbon-neutral, multi-story building using hemp blocks and hemp systems”
We’ve seen a lot of interest in the potential for hempcrete as an environmentally friendly alternative to concrete. It has been pointed out that hempcrete may not be well suited for larger buildings due to its lack of strength, when compared with traditional concrete. It will be interesting to gauge the success of this project, given the size of the buildings involved.
A Farmer-Friendly Carbon Credit Model is Needed for the Hemp Industry
While there have been some doubts cast over the extent of the claims regarding hemp’s effectiveness as a carbon sequencer, there is good cause for interest in this space.
If the claims, regarding hemp’s carbon sequencing effectiveness, are true and given the calls for large corporations to reduce their carbon footprint, there is huge potential for a hemp driven, carbon credit market.
Schumer marijuana legalization bill finally introduced in Senate
As German legalisation will likely lead to a domino effect across Europe, the federal legalisation of cannabis in the US will likely lead to a global knock on effect. It will also see an end to some of the numerous hurdles that US cannabis businesses face, even in legal states.
With Joe Biden having previously voiced his lack of support for cannabis reform, it is encouraging to see the cause being moved forward during his term in office.
MEPs Create Cross-party Group For Legalising Cannabis For Personal Use
Hopefully this campaign will bear fruit at a European level, which would see national policy makers more comfortable with opening up their recreational cannabis industries.
CBD ‘safe’ for mainstream retail, Health Canada advisory panel says
A point that has come up in the various court hearings, across Europe, is the burden of proof being put on the prohibitionists to show that a ban on CBD products is necessary to protect national public health.
Findings, from a body such as a Health Canada advisory panel, will be helpful in making it harder to argue this public health argument.
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