Earlier in the week, Nanaimo, B.C.-based cannabis firm Tilray, revealed its earnings for the year 2018, which shows that the company more than doubled its revenue back in the previous year as pot became legal in Canada, however, given its rapid expansion, Tilray also posted a net loss of $67.7 million.
According to the report published by Tilray, the company which listed back in the previous year said it sold 6,478 kilograms of cannabis in 2018 at an average selling price of $8.59 Cdn per gram.
In comparison to 2017, Tilray had a 110 percent increase in revenue, amounting to $56.4 million Cdn.
As per reports, Tilray noted the significant revenue growth for extract products in comparison to dried flower, where extracts represented 49 percent of the sales mix in 2018 in comparison to 20 percent in 2017.
Back in the previous year, the company reportedly raised $153 million in its IPO which is being used for its rapid expansion plans.
With such incredible growth, Tilray acquired various cannabis companies, with Alef Biotechnology SpA, a licensed cannabis company in Chile being one of them. The company also invested $7.5 million in Quebec-based cannabis producer ROSE Lifescience Inc.
With the purchase of Alef, Tilray has permission to import, produce and distribute Tilray branded medical cannabis throughout Latin America, also the company is authorized to import cannabis into the U.S. for medical purposes.
Additionally, for supplying medical cannabis products to patients globally, Tilray announced the formation of an alliance with Sandoz, part of Novartis Division.
Furthermore, the company is also working with Authentic Brands Group to market consumer cannabis in Canada and the U.S, and with AB InBev to develop CBD beverages and non-alcohol THC.
Texas Passes New Hemp Industry Regulations
Hemp has been a staple of human use since antiquity. Rope is made from fibers of Cannabis sativa, while the leaves and shoots are also used often. However, in Texas, the USA, the absence of stringent regulatory laws in the industry have been noted.
Food, drinks, and cosmetic goods all come from hemp-based cannabinoids like CBD (cannabidiol). For this reason, the Texas Department of State Health has issued a new set of laws and a deadline to conform.
The set of laws include new mandatory licenses and quality inspections
The government had intended to straighten up the hemp industry with two key laws. Both of these laws were put into effect as of August 2, 2020. Firstly, all hemp manufacturers, processors, and distributors must obtain a compulsory license. This license is available for $258 per hemp facility, and it is now illegal to operate without it.
Furthermore, hemp businesses must register the stores where their products are sold by October 2, 2020. This will cost an additional $155 per outlet. Each of these licenses is valid for one year, and they must be renewed upon expiration at the Texas Department of State Health Services website.
Secondly, hemp products are now subject to random inspections. To ensure safety and quality standards, state health officials will carry out tests for safety and quality standards. They will also inspect the THC (tetrahydrocannabinol, the main psychoactive agent in giving users their ‘high’).
This is because the federal legal limit of THC is 0.3%. Aside from this, the state health officials will also look for harmful germs, heavy metals, and chemicals.
Texas still has a ban on the smoking of hemp
Despite the recent laws, it should be noted that Texas’ stance on smoking cannabis is still conservative. Even the consumption of cannabis in food, for the purpose of getting high, is still illegal. The possession of any cannabis product with over 0.3% of THC is still a misdemeanor. The only acceptable use of THC products is as an additive, and these new regulations reflect that.
Despite the legality of hemp, Texas is still a state that only recently allowed this. Hemp was only legalized for industrial use in 2019. This was by the passing of House Bill 1325 last June. Republican State Sen. Charles Perry backed that law.
The law was a major shift from previous conservative stances in the state. This bill legalized hemp distribution, production, and usage for the first time in the entire state’s history.
Increased imports of THC products led to these new regulations
The move to introduce these two new laws was somewhat surprising to most. With respect to hemp, Texas has long been considered among the most conservative states in the country. Hence, it’s only understandable that it would keep the substance banned even as others have legalized it. However, Perry has since gone on to mention why the sudden regulation was implemented.
Speaking in a press release, he stated that the move was made because of increased imports of related goods. Such goods came from countries and states that he believed to have subpar quality assurance. Therefore, the hemp was made safer and more reliable by putting the focus on regulating local producers.
After all, the quality of imports cannot be improved directly. Perry went on to praise the efficacy of his bill. He claimed the new regulations would significantly improve the hemp commercially available.
American Heart Association Study Links Cannabis To Increased Risk of Heart Disease
Studies on the effects of cannabis on cardiac health emerged from a scientific paper by the American Heart Association (abbreviated AHA). One of these studies, released on August 12, 2020, refers to THC and CBD. Both of these are key ingredients in cannabis products.
The study finds that there is no clear positive benefit to cardiac health by these substances. A similar study to this mentions a possibly greater risk of strokes or heart attacks in consumers.
Both THC and CBD are held responsible
THC (tetrahydrocannabinol) and CBD (cannabidiol) are both major ingredients in consumable cannabis. THC is the chemical that causes the ‘high’ of the drug, which is arguably the most important aspect of its use. Cannabis is largely considered non-addictive, yet it is still frequently and routinely used.
However, in certain individuals, unmonitored use of cannabis has led to medical emergencies too. In these, hospitals have reported cases of cardiac failure and atrial fibrillation (a type of dysrhythmia).
THC, in these studies, has been linked with over-stimulation of the sympathetic nervous system. What this means is that it can trigger the body’s ‘fight or flight’ mechanism above normal limits. This could lead to anxiety, palpitations (heart skipping beats), and hyperventilation (breathing too fast). Hyperventilation can cause excessive levels of carbon monoxide in the blood, which is also harmful.
Conversely, it seems odd that CBD, on the other hand, seems to have a positive effect on the cardiovascular system. In most findings, researchers consider it responsible for lowering heart rate. Furthermore, it promotes the dilation of blood vessels and reduced blood pressure. So THC, in this case, does seem to be the bigger culprit in heart disease.
However, there is one major drawback in all of these studies. They are only related to patients that smoke cannabis and don’t cover edibles. So, consumers of cannabis-laced foods or beverages may have less to worry about.
The mode of taking the drug can have a dramatic difference in health. These latest studies all indicate that inhalation of cannabis, along with tar and smoke, may worsen effects. In such cases, this undermines both cardiovascular and lung health. These harmful substances can also lead to toxicity by carbon monoxide, and cause respiratory issues.
The studies aren’t meant to be definitive or conclusive
These studies do come from a credible source. However, even the authors and publishers warn that these are not meant to be conclusive. This is because they are based on correlation, not causation.
To put it simply, they indicate that the ingredients of cannabis can be linked to heart disease but not necessarily cause it. Robert Page, who is the author of the paper, admitted this in a recent interview. Rather than evidence they are based on incidences and events, so he called them “observational”.
More studies are needed before we decide if cannabis can be considered safe or not
“…The public needs fact-based, valid scientific information about cannabis’s effect on the heart and blood vessels,” Page claimed. He was referring to the relative lack of such conclusive studies available on the issue. Hence they should be carefully considered, though they are technically valid.
The absence of data on cases of orally ingested cannabis is another limitation of the study is, once again. Most experts already believe that smoking and vaping are quite unhealthy. This is compared to, suppose, just eating a marijuana brownie. So until then, the matter is still up in the air.
Mike Tyson Helps Launch Cannabinoid Beverage Company, ‘Smart Cups’
To most, he is known as the former World Heavyweight Champion and established celebrity personality. But Mike Tyson, in a surprising turn of events, has begun a new line of the venture – The manufacturing of 3D-printed cannabis beverages that are called ‘Smart Cups’.
This simple-yet-effective stab at the instant-made cannabis beverage simply requires water. It dissolves the dehydrated cannabinoids, or any other desired substance, that are etched into the bioplastic cup’s bottom surface.
Smart cups is a game-changer
The intended purpose of a device so convenient lies beyond sheer convenience. Smart Cups aims to safely and efficiently quantify, according to dosage requirements, of the cannabis in the drink. Simply put, a known quantity is added to a great degree of certainty to the consumer, given that dilution is irrelevant.
Increased dose accuracy makes the consumption safer and less unpredictable than traditional routes of administration. For new and inexperienced cannabis users, it potentially spares them of an unpleasant trip.
This concept is concisely summed up in a recent quote from a Forbes interview with the founder of Smart Cups himself, Chris Kanik: “In this specific application, we use water-soluble cannabinoids and are able to precisely print them on virtually any surface…The printed actives and flavors are released when they come in contact with a liquid (be it water, soda, saliva, etc).”
Kanik also went on to compare the Smart Cups’ guarantee of dose accuracy with that of the traditional pharmaceutical industry. He pointed out that aspirin is never doubted in its dosage. (The aspirin is a commonly used drug available over the counter to treat a variety of issues).
This is because of the given strength, for instance, 100mg is universally accepted to be true and reliable. Up until the advent of Smart Cups, he claimed, such a high degree of faith in the product was unmatched.
Tyson Ranch fully backs Smart Cups
Meanwhile, Smart Cups moves on to make a name for itself. And“Iron” Mike Tyson is slated to use his established cannabis enterprise, Tyson Ranch, to bolster the latter’s technology. This shared interest has seen Tyson Ranch make use of their state-of-the-art 3D printing resources to further carry Smart Cups.
Tyson himself said in a recent Forbes interview, “For the Ranch Companies, it is very exciting to be working with Smart Cups’ technology because it gives us the opportunity to make anything that is possible with this innovative tech…”
Tyson expressed faith in the vision of Smart Cups. He named their reliable method to give consumers exactly what they paid for. And not trouble them with unpleasant and sudden over- or under-estimates in terms of the strength.
That said, there is no official word for when Mike Tyson’s fascinating new product will be available on the market, much less about which regions it will be available in. We advise readers to check Tyson Ranch’s official website for the latest updates on product availability, pricing and more.
- Cannabis1 year ago
How CBD oil works?
- Cannabis1 year ago
CBD Gummies: How does it work? Benefits, Pricing and Packages
- Health8 months ago
Diabetes Freedom Review – A Natural Way To Beat Diabetes Type 2
- Cannabis1 year ago
Research Suggests Cannabis Effective in Treating Endometriosis
- Featured12 months ago
Prosper Wellness TurmeriCBD Review – A combination of Turmeric and CBD?
- Cannabis1 year ago
What are the main advantages of consuming CBD oil?
- Health10 months ago
VitaMove, a Popular Formula to Relieve Back Pain is Restocked
- Cannabis10 months ago
Can Cannabis Survive in Pharma?