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I have written in the past that cannabis companies of all stripes (whether involved in marijuana or hemp) that are in fundraising mode need to know when they are offering securities for many different compliance-related reasons, the biggest of which is to avoid jail time for committing securities fraud.

According to the U.S. Securities Act of 1933:

The term “security” means any note, stock, …security future, security-based swap, bond, …evidence of indebtedness, … participation in any profit-sharing agreement, … transferable share, investment contract, … fractional undivided interest in oil, gas, or other mineral rights … option, or privilege on any security, … or group or index of securities … or any certificate of interest or participation in … or warrant or right to subscribe to or purchase, any of the foregoing.

In layperson’s terms, a “security” is any type of financial interest in any business venture for any amount over any period of time, even if that business is not a formally registered company. The security could be an offer or sale of a straight equity ownership percentage. It could be a simple loan or debt. It could be an option, warrant for future ownership, or a

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CANNABIS CULTURE – As opioid overdoses skyrocket in the province, the BC Supreme Court has ruled that a nonprofit helping more than 200 Downtown Eastside Vancouver residents with harm-reducing cannabis has to vacate the building from which it operates. A branch of the Cannabis Substitution Project (CSP) and cost-reducing nonprofit The Healing Wave both operate out of the shop at 157 Cordova Street. They have been essential to members who cannot afford the high prices set by the government for life-saving assistance.

In a July Mugglehead Magazine article, Vancouver Councillor Rebecca Bligh said, “Our overdose numbers eclipsed anything Covid-related, and it’s like we’ve become desensitized that this is just a reality. But these numbers are devastating.” 

According to Neil Magnuson, who runs the CSP and The Healing Wave programs, the Cannabis Substitution Project serves “253 members [ … ] who get 420 ml of high dose edibles of their choosing every 4 days.” Additionally, The Healing Wave serves “1,750 members […with a] low barrier access dispensary [where they can]purchase a wide variety of high quality cannabinoids from flower to concentrates to edibles, topicals and even suppositories at  affordable prices.”

Jon Braithwaite of the Vancouver Area Network of Drug Users (VANDU) said

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Preliminary election results in New Zealand indicate that a cannabis legalization initiative has been rejected by voters, although some votes still remain to be counted. Totals from the election held on October 17 show that 53% of voters chose not to support the initiative, while 46% voted in favor of marijuana legalization. A second referendum to legalize euthanasia in New Zealand appeared to be headed for approval with 65% of the vote in favor, according to results released on Friday by the Electoral Commission in Wellington.

Under the cannabis initiative, possession, use, and home cultivation of recreational cannabis by adults 20 and older would be legalized. The measure would also establish a regulated market for commercial cannabis sales, and shops and cafes for the sale and consumption of cannabis would be licensed by the government.

Supporters of the initiative argued that legalization would eliminate the influence of criminal organizations in the marijuana market in New Zealand, where 80% of the population reports trying cannabis by age 20. Advocates for the measure also noted that the country’s drug laws are unfairly enforced, with indigenous Maori citizens three times more likely to be arrested and convicted on cannabis charges than non-Maori individuals.

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Hemp seeds are from the hemp plant, Cannabis sativa, the same species (but different variety) of cannabis, or marijuana. Hemp seeds do not contain the psychoactive cannabinoids tetrahydrocannabinol (THC) and cannabidiol (CBD).

Hemp is back! This variety of the cannabis plant, not to be confused with its intoxicating cousin (marijuana), is one of the most significant crops in history.

Hemp dates back to 8,000 B.C. in present-day Iran and Iraq. It was among the first crops to be cultivated as a textile fiber, in things like cloth, rope and paper. Every part — seeds, stalks, leaves, flowers, roots — can be used. Historically, it has been used as food, in religious rituals, and medicinally to treat ailments like wounds, toothaches and arthritis. Dietary hemp seeds are nutritious, versatile, and tasty.

– Read the entire article at Chicago Sun Times.

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New Zealanders voted to legalize euthanasia in a binding referendum, but preliminary results released Friday showed they likely would not legalize marijuana.

With about 83 per cent of votes counted, New Zealanders emphatically endorsed the euthanasia measure with 65 per cent voting in favour and 34 per cent voting against.

The “No” vote on marijuana was much closer, with 53 per cent voting against legalizing the drug for recreational use and 46 per cent voting in favour. That left open a slight chance the measure could still pass once all special votes were counted next week, although it would require a huge swing.

– Read the entire article at Global News.

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Next week’s elections have the potential to make some serious changes and reforms for cannabis and even psychedelics. In this post, I’ll examine some of the bigger-ticket items to watch.

The Presidency: Probably the most impactful thing for the cannabis industry is the presidency. I wrote a post last week about how federal law is unlikely to change with the current administration. We did, after all, give Trump a D+ on his record for cannabis. While Biden himself only scored slightly better by our rankings, he has since added Kamala Harris to his ticket, and Harris has a better track record and Canna Law Blog ranking on cannabis. On the balance, we think a Harris/Biden ticket will go a lot further with respect to cannabis legalization than a Trump/Pence reboot.

Congressional Races: There are a number of hotly contested races across the United States and Democrats seem to have serious chances in many conservative states. Just a few days ago, Chuck Schumer noted that if Democrats retake the Senate, cannabis legalization will be a priority. We think that blue wave in Congress will move the ball towards federal legalization significantly further.

Arizona: Medical cannabis is already legal in Arizona.

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Roberta Wilson’s father, Norm, was a dermatologist and known for his comforting and comedic manner. Her mother, Audrey, was a pharmacist and passionate baker whose chocolate chip cookies were famous in her Southern California community. So, when Ms. Wilson and her brother Jeff Koz began a cannabis business using her mother’s cookie recipe, they figured it was only appropriate to pay homage to their healthcare professional parents.

That’s why in 2016, they pivoted Ms. Wilson’s bakery business, Audrey’s Cookies, into a new venture called Dr. Norm’s. The Los Angeles-based business offers lines of cannabidiol (CBD) and tetrahydrocannabinol (THC) baked products. The company’s California hemp-based CBD isolate, which contains no THC or psychoactive properties, is lab tested to determine its strength and quality before being mixed into the family cookie recipe at 15 mg per cookie. Testing the CBD oil is not required by California or federal law, but the company does so to ensure safety, accuracy and consistency. The isolate ensures that only the beneficial properties of the CBD oil make it into the product. The terpenes and other cannabinoids found in hemp extract that have a strong and unappealing taste are eliminated.

– Read the entire article at Baking

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CANNABIS CULTURE – US Army Veteran Holly G. takes psilocybin to help make her combat-related PTSD more manageable. “Knowing that I can eat a mushroom and hit the reset button. It’s not a chemical. It’s not a man made drug. You can go out into the forest and reset until the rainbows come again,” gives her a sense that everything will be okay despite panic attacks, flashbacks, and the struggle to navigate a world outside of a war-zone.

Holly G, US Army Veteran

With regulatory progress for psychedelics like psilocybin happening at lightning speed—and publicly-traded company, Numinus, paving the road to the mainstream—naturally-derived products may soon be a more viable option for people like Holly. 

Numinus recently announced its completion of the first legal harvest of Psilocybe mushrooms, and this is a groundbreaking step forward. Accepting and legitimizing the substance will make it possible for those who find relief nowhere else, to come out of the shadows and get regular, safe access to the medicine that works for them.

Psychedelic comedian and founder of Hello SciCom, Sara Rose Siskind, takes psilocybin to help with treatment-resistant depression. She convinced her therapist

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Kiva Confections announced on Thursday that it is launching Lost Farm, a new edibles brand featuring products infused with strain-specific live resin. Intended for experienced cannabis consumers, the new gummies and chews were designed to provide an effect that is brighter and more complex than traditional edibles produced with standard infusion processes. That allows Lost Farm products to provide a rich, full-spectrum experience usually reserved for smokers, according to a press release from the company.

“Today we can smoke or vape cannabis strains that range in taste from floral to fruit to diesel, with effects that span from soporific to stimulating. While appreciative for the nuances captured in inhalable formats, we had to ask ourselves: Why can’t we explore the incredible nuances of cannabis in an edible?” said Scott Palmer, the CEO and co-founder of California-based Kiva Confections. “Lost Farm is the culmination of the journey we went through to answer that question. Having spent ten years building a legacy of cutting-edge innovation in this field, Lost Farm is still something I’m particularly proud of.”

Lost Farm is a deliberate departure from Kiva’s family of popular low-dose cannabis edible brands, providing 10 milligrams of THC in each gummy or chew

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