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Delta, Kelowna, BC –July 26, 2019 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s edition of Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
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Read this in full at https://www.investorideas.com/news/2019/cannabis-potcasts/07261GWPH-CURA-OH-OGI-CL.asp
Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com “Potcast” featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast we look at a few early announcements.
But first, The Cannabis Council of Canada responded to the draft regulation by the Quebec government to ban the sale of certain edible cannabis products and cannabis extracts:
"Yesterday's decision by the Quebec government to issue draft regulation with respect to edible cannabis products and cannabis extracts is extremely disappointing. If implemented, the efforts of the legal cannabis industry to replace the illicit market and keep cannabis out of the hands of minors will be severely hindered," said Megan McCrae, Board Chair, Cannabis Council of Canada.
The proposed regulation would ban the sale of treat, confectionery, dessert, and chocolate edible products and all products believed by the Quebec government to have a direct appeal to minors. In addition, a cannabis extract may not contain any additives or other substances intended to modify the odor, taste or color. In addition, it proposes to place a maximum cap of 30% THC on non-edible products, which will have the effect of curtailing other products – such as vape pens – from entering the Quebec market. The proposed regulation would also ban cannabis topicals.
The Cannabis Council of Canada strongly support the ethos of the proposed regulations, but its current form inhibits the legal, regulated cannabis industry from producing and selling a diversity of products in a controlled, responsible manner to Quebec cannabis consumers, and instead supports the illicit market for these products. The unregulated production and distribution of cannabis enriches organized crime and puts youth at risk. According to public opinion research conducted on behalf of the Cannabis Council of Canada, 64% of Quebecers support the legalization of cannabis, as well as safe, regulated access to cannabis products.
The Cannabis Council of Canada is the national voice for Canada's licensed cannabis producers which advocate for world-leading federal regulation and the safe, responsible production, access and use of recreational and medical cannabis products.
GW Pharmaceuticals plc (NASDAQ: GWPH) today announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending marketing authorisation of EPIDYOLEX™ (cannabidiol oral solution) for use as adjunctive therapy of seizures associated with Lennox‑Gastaut syndrome (LGS) or Dravet syndrome, in conjunction with clobazam, for patients 2 years of age and older. The European Commission (EC) is expected to make a final decision on the marketing authorisation application (MAA) in approximately two months.
“Today’s positive CHMP opinion for EPIDYOLEX™ marks a major milestone for patients, and their families, battling to control two of the most severe and life-threatening forms of childhood onset epilepsy. Cannabidiol oral solution is the first in a new class of epilepsy medicines and the first plant-derived cannabis-based medicine to be submitted for European regulatory review, representing a historic breakthrough,” said Justin Gover, GW’s Chief Executive Officer. “We are excited by the potential to bring patients and physicians a rigorously tested and evaluated cannabis-based medicine with a documented safety and efficacy profile, manufactured to the highest standards and approved by a medicines regulator.”
“This is a significant milestone for patients with LGS and Dravet syndrome as there remains a severe unmet medical need for these rare, lifelong forms of epilepsy,” said Professor Martin Brodie, President, International Bureau for Epilepsy. “Today’s positive opinion brings hope to both patients and their families of a treatment option which has the potential to better control seizures and notably improve quality of life.”
“In my clinic, I often see patients with these highly treatment-resistant epilepsies who have tried and failed existing therapies. These patients and their families face a long and challenging road and very few achieve adequate seizure control,” said Dr Antonio Gil-Nagel Rein, Director of the Epilepsy Programme, Ruber International Hospital, Madrid. “Based on numerous clinical trials and the scrutiny of the European medicines regulator, this medicine has the potential to make a real difference to the lives of many patients.”
The CHMP’s positive opinion is based on results from four randomised, controlled Phase 3 trials. These studies incorporate data from more than 714 patients with either LGS or Dravet syndrome, two forms of epilepsy with high morbidity and mortality rates, which place a significant burden on families and caregivers. Many patients with LGS or Dravet syndrome have multiple seizures per day, which puts them at ongoing risk of falls and injury. Despite current anti-epileptic drug treatment, both of these severe forms of epilepsy remain highly treatment-resistant.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) responded yesterday to a letter from the U.S. Food and Drug Administration ("FDA") informing FDA that the Company has addressed the issues that were raised in the letter regarding its CBD product marketing.
Upon receiving the letter, Curaleaf Hemp, the Company's hemp-based CBD product line, immediately began an extensive review of its website and social media platforms to remove all statements that FDA identified as non-compliant. This includes removing the Curaleaf Hemp blog, and the third-party links in it, and removing any statements and social media posts to which FDA had taken exception. Additionally, Curaleaf Hemp advised FDA that a number of the products mentioned in the FDA letter had previously been discontinued. Curaleaf Hemp will continue to work diligently to ensure that the information it provides to consumers on its website and social media platforms is fully compliant with FDA requirements.
"Our industry needs, wants and appreciates the work the FDA is doing to ensure there is regulation and compliance in the CBD marketplace," said Joseph Lusardi, CEO of Curaleaf.
"We care deeply about our customers and making a difference in our industry. Curaleaf is committed to being an ethical and responsible company and working with the FDA to be a leader in our industry, setting the standards and guidelines to best service our customers and the communities we serve."
Organigram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI) announced that it has entered into an advance payment and purchase agreement with 703454 N.B. Inc. (1812 Hemp) under which the Company will pre-fund hemp purchases to receive access to as much as 60,000 kilograms of dried hemp flower to be harvested in calendar 2019 for extraction into CBD isolate.
Organigram is already a party to a purchase agreement entered into in January 2019 with 1812 Hemp, in which Organigram was granted a right of first refusal on 1812 Hemp’s production of certain hemp cultivars.
“Access to a large, consistent volume of CBD-producing hemp has become increasingly important as Canadians express their demand for CBD-rich products for use in both recreational and medical capacities,” said Greg Engel, CEO, Organigram. “We’ve heard the call for CBD in the market and this agreement positions Organigram to meet that demand.”
CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) announced today that it has divested its 5.1% equity interest in Alternative Medical Enterprises LLC for total consideration of US$6 Million. As Cresco Labs Inc. is prohibited under state law from acquiring additional positions in the Florida market, this divestment was a pre-closing condition to the Company's previously announced plan of arrangement pursuant to which Cresco has agreed to acquire all of the issued and outstanding shares of Origin House.
"With one of the final conditions to closing the Arrangement with Cresco now complete, we look forward to proceeding to drive value for shareholders as a combined company, upon the expiration of the anti-trust waiting period," commented Marc Lustig, Chairman and CEO of Origin House. "The sale of the remaining AltMed interest marks a significant milestone in the continued process whereby Origin House has monetized non-core holdings resulting in both substantial returns for shareholders and additional cash that has fueled the Company's growth."
The Company has received approximately US$3 million on close, with the remaining portion of approximately US$3 million, paid to Origin House in periodic installments, ending January 2020. Mr. Lustig has agreed with one of the purchasers that acquired 4.9% of the 5.1% Interest, Zola Global Investors Ltd., to personally repurchase a portion of their interest in AltMed under certain conditions. Zola is an operationally focused family office with deep expertise in investing across the legal cannabis sector, providing a source of capital for corporations divesting assets as part of their merger requirements.
Cresco Labs, Inc. (CSE: CL) (OTCQX: CRLBF) announced that it has obtained eligibility with The Depository Trust Company (DTC) for its common shares listed on the OTCQX.
“Our shareholders will now be able to electronically transfer shares between brokerages in the U.S.,” said Charles Bachtell, Co-founder and CEO of Cresco Labs. “DTC will allow for a more convenient trading experience for current and future shareholders, something we hope will have a positive impact on the liquidity and demand of our stock.”
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