Investor
Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 388 - Cannabis
Deemed Essential (CSE: $SHRM.C)
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:
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);
●
Intranasal;
●
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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