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CEO Of Aurora Cannabis Resigns Following The Company’s Biggest Mistake Ever

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Every organization makes numerous mistakes over the course of its operation. Aurora Cannabis is one of them. Over the past 12 months, Canadian Cannabis producer has disclosed various awful quarterly reports. For a time being, it also lost the privilege to vend medical cannabis in one of the leading German markets. Particularly because it failed to attain a genuine license.

Source: Google Images

Aurora reported its latest mistake last week. The company didn’t telecast that they have done such a huge blunder but it got apparent in a matter of minutes.

Aurora revealed on June 3, 2020 that it was selling 9.2 million shares of Alcanna in Alberta. This was likely to happen through a bought deal according to which it will bring a total earning of 27.6 million in Canadian dollars. This total earning constituted Auroras entire goods in Alcanna. 

History Between Aurora Cannabis And Alcanna

2 years back in February Aurora disclosed that it was financing 103.5 million in Canadian dollars in Alcanna (that time known as Liquor stores N.A) in order to get 19.9 percent of ownership stake. This agreement allowed Aurora to increase its interest through a further investment of about 40 percent. 

 Also Read: Lock Down Returns As Second Wave of Coronavirus Hits Beijing 

The founder of Aurora Cannabis and later it’s CEO, Terry Booth,said that at the moment, this agreement is not only beneficial in terms of scale and scope for both of the companies but for the Canadian Cannabis industry too.

The supervision crews at both Aurora and Alcanna thought that the amalgamation of Aurora’s authority in the Cannabis industry with Alcanna would tranform few of its currently running liquor stores into Cannabis retail shops. Hence, creating power of retail Cannabis in Western Canada.

A few months later in August, Aurora made another investment in Alcanna of 34.6 million in Canadian dollars. This investment increased its possession to 9.2 million shares. Alcanna then started functioning to open as many as 50 retail Cannabis stores under the brand name of Aurora by the end of 2018. The plan was to launch these stores in October 2018. They believed that this will cause a sudden rise in recreational Marijuana market.

However, their partnership ended last week. As a result, Aurora ended up losing CA$110 million (US$80 million).

The Incident

Both Aurora and Alcanna failed to fulfill their desires. At first, Alcanna faced serious challenges to operate its main business of liquor stores.

At the time when Aurora was increasing its stake hold, Alcanna revealed that it was struggling to recover its previous market share in its chief liquor business. The company was also facing severe intense competition as compared to its previous years.

Also Read: World’s First Ever Cannabis Therapy Trial On Newly Born Babies In U.K

The oil prices were falling in Alberta due to which its economy collapsed. Alcanna reported innumerable problems by November, 2019. It also disclosed a substantial increase in thefts and burglaries in its stores.

Further, by the end of first quarter of 2020, Alcanna was managing 26 retail Cannabis stores, 25 in Alberta and 1 in Ontario. However, the sale of Cannabis was reducing due to a rise in competition.

On the other hand, Aurora was facing its own series of issues. The company’s spending increased a lot in the previous years which caused it to face a financial bind. Consequently, the CEO, Terry Booth resigned from the company. Hence, the only option left was to quit from the Alcanna partnership in order to increase the cash needed for Aurora.

Why this mistake holds significance?

The most salient feature of Aurora-Alcanna failure is that the shares are now much higher than they were in the past. Moreover, Aurora isn’t in high spirits as it was in the beginning of 2018. Now, the company cannot afford to make a blunder to such an extent. Hence, Aurora needs to carry out everything carefully which seems to be a bit difficult now.

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Cannabis Oil exports from Australia reach Germany

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Germany will be receiving batches of cannabis oil exports from Australia.

When it comes to cannabis oil exports, Germany ranks fourth in the entire world as per the official figures reported in 2019. This translates to a monetary value of about $230 million and represents around 8% of the total cannabis oil exports of the world.

If that wasn’t enough to reflect the potential of the cannabis industry in Germany, it is noteworthy that the country is also one of the largest importers of cannabis oil in the European Union. It stands only next to the United States and Israel in this list, with total imports amounting to approximately $240 million.

Germany expands its cannabis trading partners

This week, the export ties of Germany further expanded to include Australia as a trading partner.

As a result of this partnership, a shipment containing cannabis oil exports from the country just arrived in Germany earlier this week. The merchandise was exchanged between WA based Little Green Pharma and  CC Pharma in Germany. The shipment contained around 2400 units of medical cannabis oils that were valued at $600,000.

Managing director of Little Green Pharma Fleta Solomon considers this trading partnership as a huge achievement. He believes it is going to offer opportunities to Little Green Pharma to establish itself as a ‘key-exporter’ of medicinal cannabis oils into Europe. According to him, this is further going to establish the confidence of the European market in Australia’s locally grown medicinal cannabis.

He further added that “With our expanded cultivation and manufacturing facility, LGP is well-placed to ensure consistent supply to both Australia and offshore markets in the future.”

The products will be batch-tested over the course of this week and will be released in the German market later on. This will mark the end of a 22-month long period that was served in extensive legal formalities, licensing, quality checks, audits, etc.

In addition to this, Little Green Pharma will also be supplying products to DEMECAN in Berlin. According to reports, this partnership is going to relate the two countries for the next three years. During this time, approximately 48000 units of medical cannabis oil products per year will be exported in Germany.

Germany’s Cannabis Market

According to research, about 84.1% of Germans support the legalization of cannabis in some form. The country has seen a spike in demand and tried to accommodate them through imports.

According to BfArM, most of the imports (flowers) are for pharmacy dispensing. This means that they are usually re-exported to other European countries like the Czech Republic and Italy.

Currently, there are about 60,000 registered patients in Germany who are depending upon cannabis products for treatment. This number is expected to increase further as an expanding percentage of physicians is now considering prescribing medical cannabis. The scope of these ailments includes arthritis, epilepsy, and inflammation, and various other problems.  After 2020, the amount of locally produced cannabis is not going to be sufficient for meeting demands.

Without sufficient products to meet local demand, Germany has to depend upon imports. Most of this shortage is created as a result of bottlenecks in the legal framework. These cause delays in licensing and permits for stakeholders and create various other problems. Producers, cultivators, and retailers have complained of a lack of support from the government, which greatly discourages new investment.

German Parliament Still Opposes Legalization

Despite this lucrative growth of the local industry, the country has still not legalized adult-use cannabis in its territory. The reasons for this delay in policy reforms are difficult to interpret.

Laws surrounding the industry are pretty confusing for its local residents. While there is no written law prohibiting its use, possessing over ‘small-amounts’ of the drug can lead to incarcerations. Once again, the definition of small amounts is not legally defined. If a convict is lucky enough, the law enforcing agencies might let them go with a warning. In other cases, arrests can be up to 1 to five years long.

The cannabis industry of Germany was in the news last month due to the rejection of a legalization bill. The bill had proposed legalizing adult-use cannabis but was rejected sternly by the parliament.

Although the bill had a significant level of suppor, it was rejected due to a coalition between two parties. It was formed between The Union and the SDP, putting them in a clear majority.

Due to this clear majority, any proposal that goes against the ideology of this coalition ends up facing the same fate as the cannabis bill.

 

 

 

 

 

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Best CBD: Tommy Chong Holiday Sale Sitewide, Discount Codes Released

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Musician and comedy actor Tommy Chong happens to also be a cannabis activist as he enters the cannabis industry with his very own cannabis brand. Moreover, with a 30% discount sitewide, a chance to purchase your favorite CBD products during this exclusive CBD sale with no issues of reliability and authenticity.

Chong has campaigned for the legalization of the plant, for a majority of his life, encouraging the cannabis culture in his movies and music, while also calling out cannabis prohibition. With the ongoing legalization updates of cannabis globally, Chong participates in the battle, while sharing his first experiences with the plant as well.

Reliability and Authenticity

All CBD products at Tommy Chogs CBD are lab tested by a 3rd party, full-spectrum to guarantee maximum benefits of CBD, and are American products derived from hemp. Chong strongly assures customers of the authenticity of the product by associating his name with these reliable products. His association guarantees the best quality, purity, and effectiveness of the CBD in the products. Moreover, they do not use any sterilization process that could potentially destroy the organic character and structure of their ingredients. Their distinctive method of selection and combination of ingredients in sterile surroundings allows them to utilize a cold-fill process. This is after the careful selection and tests of each and every raw ingredient.

While these methods are more common in pharmaceutical manufacturing, they ensure that their final products are free from contamination and ready to be made available as supplements in the market. Furthermore, they offer a variety of choices for the consumer’s CBD delivery, enhancing the experience of the consumer while keeping their comfort in mind. While your reason may range from spot-relief to rapid onset, you can choose your convenient form for consistent dosing

  • Tinctures – Taken directly or used as an addition to drinks or meals
  • Capsules – Perfect for precise dosage
  • Topicals – Convenient for immediate relief with on-the-go application
  • Delicious Gummies – Chew anytime, all-day

Tommy Chong’s CBD Tincture

Tommy Chong’s CBD

  • CBD Type – Full-Spectrum
    CBD potency –
    3000mg per 30mL, 100mg per serving
  • 90 Days money-back guarantee – Yes

After the extensive research performed on CBD and its extracts, isolates, and distillates, the results have shown that the entourage effects of many naturally-occurring phytocannabinoids, improve the impacts of CBD. Hence, Tommy Chong’s CBD makes sure to only select CBD strains with high potency, derived from American hemp. The blend of this full-spectrum CBD extract, with hemp seed oil (sustainably harvested), creates this 100% hemp product with high potency, effectiveness, and purity. Each drop guarantees safety, purity, and potency.

Visit Tommy Chong’s Website to Buy it

Tommy Chong’s CBD Gummies

Tommy Chong’s CBD

  • CBD Type – Full-Spectrum
    CBD potency –
    300mg per 30 gummies, 10mg per serving
  • 90 Days money-back guarantee – Yes

A delightful and carefully measured CBD extract from 100% hemp flower grown in the U.S, the perfect blend with gelatin and natural flowers, gives you the perfect easy, quick, convenient, and tasty dose of CBD anytime. Moreover, precision is ensured in these carefully dosed gummies, for a convenient CBD dosage on the go. No need to worry about potentially messy oils anymore, as these CBD gummies are incredibly convenient for storage as well. The absence of pesticides, heavy metals, and other toxins, was confirmed after the hemp was tested. With minimal processing, valuable and beneficial phytocannabinoids and terpenes are extracted.

Visit Tommy Chong’s Website to Buy it

Tommy Chong’s CBD Softgels

Tommy Chong’s CBD

  • CBD Type – Full-Spectrum
    CBD potency –
    300mg per 30softgels, 10mg per serving
  • 90 Days money-back guarantee – Yes

Each soft gel consists of 25mg full-spectrum CBD derived from hemp. Moreover, it is wrapped in a gelatin capsule, for convenient consumption. Third-party tests are conducted to ensure the quality of the product and the absence of heavy metals, pesticides, and other toxins.  CBD gummies and CBD soft gels are extremely convenient and precise forms of CBD consumption. Moreover, the full-spectrum CBD extracts, ensure the maximum benefits of CBD are given to the consumer.

Visit Tommy Chong’s Website to Buy it

Tommy Chong’s Good Vibes Energy Shots 12pk

Tommy Chong’s CBD

  • CBD Type – Full-Spectrum Nano-CBD
    CBD potency –
    300mg per 30softgels, 10mg per serving
  • 90 Days money-back guarantee – Yes

Tommy Chong’s Good Vibes Energy Shots are created carefully to emphasize natural, productive focus, that would eliminate the need for any sort of caffeine, sugar jitters, etc. Productivity is a common struggle shared by many across the nation. Hence, Tomm Chong’s Good Vibes Energy is the perfect fit to help with productivity by increasing energy and focus throughout the day. The ingredients were carefully selected to ensure a stable mood while providing a delicious taste.

The full-spectrum nano-CBD is typically CBD in its most bioavailable form, enhancing memory, focus, and mood. Moreover, it triggers feelings of calmness, which is something that is not achievable with a typical energy drink. Unlike the shakiness and jitteriness experienced after the consumption of excessive caffeine, this will enhance feelings of calmness, focus, and energy.

Taurine’s energizing properties and ability to support your body for the production of dopamine, make it an essential ingredient for this CBD product. Combining it with nano-CBD, however, enhances the benefits further. Vitamin B6 could easily be the most essential vitamin, in this case, owing to its ability to help with digestion and mood regulation. However, one must obtain this vitamin from food, as the human body is unable to produce it. Vitamin B6 enhances mood, maintains heart health, enhances brain health, and focus.

Visit Tommy Chong’s Website to Buy it

Tommy Chong’s Nice Dreams Sleep Tincture

Tommy Chong’s CBD

  • CBD Type – Full-Spectrum Nano-CBD
  • CBD potency – 100mg per 30mL
  • 90 Days money-back guarantee – Yes

Tommy Chong’s Nice Dreams Sleep Tincture is the perfect CBD product to help you get your well-deserved, deep, and restorative sleep, especially without any harmful pharmaceutical drugs. It helps support health and wellness and works best when taken every night. This tincture is specially designed for individuals who struggle to get proper sleep, which consequently affects their daily life activities.

The quality of your sleep may significantly impact your mood, energy level, productivity, metabolism, digestion, appetite, libido, etc. Moreover, CBD (full-spectrum) in the most bioavailable form has shown to enhance sleep, while calming the mind. Melatonin is a natural hormone that is produced by the body. It helps signal the body when it is ready to sleep. Moreover, the potent neurotransmitter helps maximize the ability of the body to go into a deep sleep. GABA is also a part of various processes taking place in the brain. This neurotransmitter is also partially accountable for the cellular repair that takes place during your sleep.

The hemp in the tincture is properly tested by a third party to guarantee the absence of any heavy metals, pesticides, and other toxins. Moreover, it goes under minimal processing to obtain beneficial phytocannabinoids and terpenes. The CBD extract is full-spectrum, maximizing the benefits of CBD. Furthermore, the perfect blend of the CBD extract and sustainable hemp seed oil formulates the hemp product with maximum potency, effectiveness, and 100% purity.

All tinctures by Tommy Chong’s CBD undergoes manufacturing and bottling in their facility (certified by GMP). Third-party testing ensures the potency, purity, and safety of all their tinctures.

Visit Tommy Chong’s Website to Buy it

Tommy Chong’s Good Vibes Energy Tincture

Tommy Chong’s CBD

  • CBD Type – Full-Spectrum Nano-CBD
  • CBD potency – 100mg per 30mL
  • 90 Days money-back guarantee – Yes

Tommy Chong’s Good Vibes Energy Tincture, helps you feel refreshed and calm all day. It contains taurine and vitamin B6, and increases productivity, without the need for any caffeine, or sugar rush. It is specifically created to help individuals who struggle to be focused during the day. This tincture and it’s specific ingredients help by supporting mood, which in turn enhances focus and energy.

Visit Tommy Chong’s Website to Buy it

Tommy Chong’s association, and the multiple testing and high-quality CBD products, ensure the reliability of their products. However, a sale just makes it even better! The cyber holiday sale starts on 26th November 2020 and ends on 06th December 2020. Use the promo code – TOMMY20 for 20% off sitewide, and start your Christmas preparations with your favorite CBD products.

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Cannabis cosmetics and food items are coming

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Cannabis beverages coming soon

As the world moves for cannabis legalization we can expect to see it in various forms for public use. There are already several CBD based products in the market. This includes CBD based skincare items as well as oils and eatables. However, It looks like this list is going to expand even more. The Thai government is considering to allow marijuana and hemp-based cosmetics and food items. The health Secretary said on Wednesday that the government will allow the use of cannabis and hemp plant extracts in food and cosmetics.

According to Kiattiphum Wongrajit, the Narcotics Control Committee in Thailand decide to remove several items from the government’s narcotics list on Tuesday. These items include the leaves, branches, stems, trunks, bark, fiber, and roots of cannabis and hemp. In addition, the allowed list does not include shoots, including flowers, that have high drug content.

The Food and Drug administration authority will draft a new public regulation to govern this decision. The public health minister in the country will then approve this regulation before it becomes effective. The regulation also includes hemp seeds and seed extract, as well as cannabidiol (CBD) and tetrahydrocannabinol (THC), at a maximum of 0.2% content. However, the allowed parts and ingredients of products have to come from producers authorized by the government. These include government organizations with medical and research tasks, modern and traditional medical practitioners, universities, community-based enterprises, and community cooperatives.

Cannabis in Japan is stigmatized with the illegal status. Advocates are now stressing for a change in attitudes.

Image: Akie Abe, Facebook.

Talking about the decision the FDA secretary-general Paisal Dunkhum said that this relaxation in the laws will benefit healthcare users of cannabis and hemp. Moreover, the producers of textiles, garments, medicines, and herbal products will also benefit from the new laws.

The New Regulation:

For self-growing cannabis, Paisal Dunkhum answered that the new permission will cover people who are already authorized to grow it for community-based enterprises, as well as cooperatives allowed to produce cannabis. Moreover, there is no limit to the number of plants allowed for these individuals.

Cannabis for medical use is legal in Thailand for a while now. the government passed those laws to legalize in hopes to increase the export revenue of the country. This will, in turn, benefit their economy leading to better growth. The recently passed law made it legal to produce medical marijuana. Previously a company found guilty of producing marijuana faced a Five-year ban.

With the new law, private companies in Thailand will produce, export, import, sell, and possess medical cannabis. Not only is it a breakthrough for the cannabis industry in the country it will also produce hundreds of new job opportunities. Thailand currently has the potential to become one of the leaders of the world in the cannabis market.

study shows amount of cannabis does not affect high

courtesy of medicalnewstoday.com

The country has a rich culture and history when it comes to cannabis. It has used marijuana as a spice and herbal remedy for centuries now. However, the new laws will sure affect the availability and public trust in the medication. In addition, Thailand is one of the first South-East Asian countries to legalize medical marijuana for patients. With their implementation, the government issues certificates for patients approved to consume cannabis for medicinal purposes.

The government has a keen intreats in the marijuana industry as soon as they passed the medical nabis law in 2019. However, it has taken some time to become a reality. Let’s hope the other Asian countries also follow suit and realize the importance of this industry.

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