Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 388 - Cannabis Deemed Essential (CSE: SHRM)
Delta, Kelowna, BC - March 24, 2020 (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 podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Investor Ideas Potcasts, #Cannabis News and #Stocks on the Move; Episode 388 Cannabis Deemed Essential (CSE: SHRM)
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 are looking at how the COVID-19 Pandemic has pushed cannabis fully away from fringe to "essential" and how psilocybin could be next.
A recent Forbes article discussed how, "In state after state, governors and public health officials are deeming cannabis businesses "essential" operations that can stay open amid coronavirus-related forced closures and stay-at-home mandates. People might not be able to go bowling or see a movie in theaters, but they can still stock up on marijuana."
The article continues to discuss which states have declared cannabis essential, such as California, and how even some states where cannabis business was still being scrutinized heavily have even allowed the continuation of medical and recreational cannabis operations.
In Canada, in recent news, "Ontario Premier Doug Ford announced Monday that all non-essential businesses in the province will be required to shut down effective Tuesday at 11:59 p.m. for a period of at least 14 days. A list of businesses that will remain open will be released Tuesday, the government said in a release."
The article continued saying that, "Licensed cannabis stores will remain open in Ontario during a provincial emergency shutdown of non-essential businesses designed to limit the spread of COVID-19, according to two sources directly familiar with the matter."
Now as cannabis pushes from recreational pass-time or fringe medication to "essential" medication in North America, this is driving the push for another fringe drug with massive potential, psilocybin.
There has been a meme floating around the internet as of late during the COVID-19 Pandemic (image below), and while this may seem silly to some, many are taking this opportunity to push local governments into reconsidering magic mushrooms.
In other recent news from California, "a campaign to legalize psilocybin mushrooms in California is asking the state to allow online signature gathering for their ballot petition, arguing that the coronavirus outbreak necessitates an alternative means to put the psychedelic reform measure before voters in November."
Decriminalize California, the group behind the proposed initiative, partnered with two other campaigns in the state to write a letter to the governor, secretary of state and attorney general, requesting the emergency policy change. It's the latest in a series of similar requests from drug policy reform campaigns across the U.S., with activists scrambling to qualify their measures for state ballots amid the pandemic.
In news from Hawaii, "Two members of the Hawaii Legislature introduced a set of resolutions aimed at studying the medicinal applications of psilocybin in order to develop a plan that ensures the availability of the compound for adult patients in the state."
This leads to companies like Champignon Brands Inc. (CSE: SHRM), a health and wellness company specializing in the formulation of a suite of medicinal mushrooms and mushroom-infused products, who recently introduced new proprietary intellectual property into its vertically integrated alternative medicine product range. The Company announced its entry into a definitive agreement, signed March 18, 2020, to acquire Novo Formulations Ltd.
Novoformulations' novel delivery system platforms, as well as complementary R&D advancements, will accelerate the architecture of Champignon's patent portfolio as the Company persists in being a first mover in the existing consumer package goods and emerging psychedelic medicine arenas.
Novoformulations is a specialty biotechnology company focused on developing novel and innovative delivery systems for the pharmaceutical and nutraceutical industries. The Novoformulations team consists of a roster of PhDs and technician level scientists, each with decades of experience building novel defensible medical IP, as well as subsequently developing and commercially marketing proprietary delivery platforms.
Novoformulations is presently working with ketamine, anaesthetics and adaptogenics, as well as a host of pharmaceuticals and natural molecules at a purpose-built GMP and pharmaceutical (DIN) licensed facility located in Quebec, Canada, and an accredited pharmacy in Ontario. There, the Company is actively formulating, developing and commercializing bioavailable delivery platforms, including:
- Transdermal (topical);
- Sublingual; and,
- Novel oral and suppository.
Also based in Quebec, Novoformulations' manufacturing partner will process its novel delivery platforms and formulations into marketable end products at its 40,000-square-foot GMP-certified, Health Canada and Federal Drug Administration (FDA)-approved manufacturing facility.
Champignon plans to leverage Novoformulations' existing product development infrastructure and licensed affiliates to pursue psilocybin and MDMA based formulations, with the objective of developing and commercializing rapid onset treatments capable of improving health outcomes, including Depression, PTSD and substance and alcohol use disorders (DPS). The current marketplace for pharmacologic DPS treatments in North America exceeds $10 billion annually.1
"The recent acquisitions of Novoformulations and Artisan Growers are absolutely accretive to each other and to our stated business objectives of enhancing the health and wellbeing of millions of consumers via our suite of medicinal mushroom extracts, mushroom-infused products and now novel delivery systems," Champignon Chief Executive Officer Gareth Birdsall commented.
"The existing infrastructure inherited from these recent acquisitions positions us as a leading participant throughout the entire alternative medicine lifecycle, from R&D to formulation, manufacturing and end distribution. The end result will be a turnkey solution that incorporates both standardized ingredient mixtures and pharmaceutical grade products that can now be marketed via a variety of proprietary delivery systems," continued Gareth Birdsall. "The addition of Novoformulations allows Champignon to deliver medications in a safer, more effective and more expeditious manner than our peers, from bench top in the laboratory, to preclinical and clinical trials. We are intent on the commercialization of products throughout North America, as rapidly as is safely and effectively practicable."
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