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Global interest grows in the Aussie cannabis market

Article from Dopamine (June 7th) – Australia’s premier online cannabis lifestyle title and features everything from weed culture to music, gaming, food and more.

We caught up with founder Chris Bolton at the Hemp Health and Innovation Expo to talk about TheraCann and the future of the Australian cannabis industry,

So, what is TheraCann, and why does the team care about Australia?

Essentially, it’s a consultancy service specifically tailored for the cannabis industry:

“TheraCann provides full turn-key solutions to anyone looking to enter the cannabis space in an industrial scale,” explains Chris, “so being able to ensure all quality of production, right through to regulatory compliance.

“We provide the plans, the design, we implement [including building the facility], bring in all the equipment, provide all the training, then we provide all the ongoing support.”

In other words, they handle the nitty gritty side of running a cannabis business (medical or recreational) so that you don’t have to worry about the tedious elements such as licensing and regulatory compliance.

What strikes me most when talking to Chris, however, is his interest in and enthusiasm for the Australian medicinal market: one that – for all appearances – is in total infancy.

“We’re here at this fantastic trade show in Australia because we see this as the next opportunity globally,” he says. “We operate in five countries worldwide that are licensed and Australia is at the tipping point in our personal opinion.”

What makes him say that of a country who only just implemented the barest of medicinal policies?

“Well, we look at the number patients purportedly consuming on a daily, weekly schedule. Australia outpaces Canada at a factor of 1.5 for that. So you have more users right now in Australia than we do in Canada which has a full, thriving, medical community.”

It might come as a bit of a surprise to hear that – it did to me – and it means that the need for our medical industry to grow is even more pressing. 

“If we look at the patient, they just want to get well, but they have to find a doctor knowledgable enough to prescribe what they need – the right cannabis strain, or mix of THC/CBD or other constituent products in the cannabis stream that will make them well.”

Right now we don’t have that. So, although we already have the patient base, there are still a few steps left before we’re in the position we need to be: a few official boxes to be ticked and a few frameworks put in place.

The value of talking to somebody like Chris is that he’s seen it all before with the growth of the Canadian cannabis industry and knows what needs to happen.

The first stage is a functioning and reliable medicinal industry:

“Obviously you need the final approval at a state-wide level … but you also need to have a consistent, cohesive plan how doctors can comfortably prescribe product to patients … There’s always been a gap in most regulatory frameworks that connect the right patient to the right doctor, the doctor to the right producer, and the feedback loop between the patient and the producer … That dialogue has to be a tri-way discussion, and in markets that are successful, that’s the missing part. Once that comes together you’ll find that it blows the door open.”

The second step, according to Chris, is to prepare for the advent of a recreational market.

“You have to now start to think of the day when recreational becomes legal. You’re going to use the same licensed producers, under the same framework, for quality assurance, record keeping, traceability and whatnot to provide a recreational market which is often a hundred times the size of your medical market … not having that in place in the forethought of how you’re going to manage that is the number one hurdle of any jurisdiction.”

What we want to avoid in setting up our cannabis industry is jumping the gun like Uruguay did in going from full prohibition to full legalisation without the proper preparation.

“They went full legal for medical and recreational but they cannot meet demand,” says Chris. “They can’t produce enough, so what’s happening is illicit product is coming in through the back door which is dwarfing the growth of the industry. There’s no quality assurance and their losing the tax opportunity.”

When it comes to the medicinal side of things, mistakes like this are a massive concern as they limit the patients ability to get the proper treatment and a consistent product. For the recreational smoker, this isn’t as severe considering the degree of criminality in the current prohibition market, but for overall social well-being it’s better that it’s done right. Ensuring the proper systems are put in place for patients to access medicinal cannabis is our first priority, and from there its a short walk to the development of a functioning recreational market.

How is Michigan doing with its new Medical Cannabis Laws?

For those looking to get into this “Green Rush” it is critically important that one understands that this business is not designed to accommodate the novice Medical Cannabis entrepreneur and investor.  

The Michigan Medical Cannabis Industry is being regulated by LARA the Department of Licensing and Regulated Affairs. LARA has created a special unit for the regulation of medical marijuana called the Bureau of Medical Marijuana. The Bureau of Medical Marijuana regulates the Michigan’s medical marihuana facilities and licensees, including growers, processors, transporters, provisioning centers and safety compliance facilities.  The bureau also oversees the Michigan’s patient registry program and administers the Michigan Medical Marihuana Act.

For those looking to develop a career and invest into Michigan’s Medical Cannabis Industry it is important that you are aware that the new Michigan Medial Cannabis laws have designate five classes of licenses that will be available for qualified Michigan applicants:

  1. A growers license with three classes of growers
    • Class A – people who can grow up to 500 plants,
    • Class B – people who can grow up to 1,000 plants,
    • Class C – or up to 1,500 plants.
  2. A processor license
  3. A safety compliance facility license (Lab)
  4. A secure transporter license
  5. A provisioning center license (Dispensary)

Back in January 16, 2017 a well written article “New laws in Michigan shake up the marijuana industry” by Christian Sheckler South Bend Tribune sharing with Michigan’s Medical Cannabis Patient, Caregiver, and General Public that BIG changes are coming.  These changes are important as Michigan’s registered Medical Cannabis Patients are above 2oo,ooo and climbing.  This large number of register patients drives the logic behind rolling out this Medical Cannabis Industry in a cogent and regulated way.  

In theory, depending of course on many other factors that can be considered as basic “business 101” knowledge, the current Michigan Cannabis Caregiver should have some advantages in dealing with LARA’s medical marijuana regulations.  Provided  with the proper council and advise, assuming they follow the complex and ever changing laws, this new legislation could transform the former Caregivers learned skill set into a BIG Business. If you are qualified and acquire any of the 3 proposed classes of growers licenses this could be a once in a lifetime opportunity.  It does indeed appear the grass is greener on the other side!

MYM Nutraceuticals to develop the cannabis “gold standard” for product testing process and technology in Canada

Vancouver, British Columbia, Canada / TheNewswire / April 5, 2017MYM Nutraceuticals Inc. (CSE : MYM ) (OTC:MYMMS)(FRA:OMY), (the “Company” or “ MYM ”) is looking to lead the Canadian market by establishing the gold standard in quality assurance testing of its cannabis products. MYM has hired TheraCann Canada to implement its full suite of services including ISO 17025(2005) compliance to ensure repeatable and reliable data stands behind each product label. TheraCann Canada is also providing TheraCannSYSTEM software to MYM which directly captures all testing and analysis data to better control regulatory compliance concerns and future audits by Health Canada.

With the recent announcement that the Canadian Provinces to be able to decide how cannabis will be distributed within their borders, the federal government will oversee all medical and recreational marijuana cultivation. MYM is planning to jump ahead of the curve on future legislation to focus on in-house quality assurance testing laboratories and analytics.

Brent McNiven, President of, TheraCann Canada commented:   With the recent flurry of dangerous recalls in the Canadian market due, in part, to a lack of tighter government control on standards, we expect Health Canada will finally be moving to a stronger and more regulated testing procedure in advance of recreational legalization. TheraCann’s “gold standard” process build on ISO 17025 (2005) will meet or exceed all future regulations and ensure MYM is ready to excel in this rapidly expanding market.

Jonathan Fiteni, MYM CEO, commented :   MYM is looking to build the industry standard in all-inclusive cannabis facilities to meet the demands of the Canadian consumer. With the anticipated start of recreational legalization coming online in the summer of 2018, MYM will be positioned to provide the safest products in the market.

ABOUT MYM

MYM Nutraceuticals Inc. (CSE:MYM)(OTC:MYMMS)(FRA:OMY) is a public company trading on the Canadian Stock Exchange whose primary focus is developing high-end organic medicinal marijuana supplements and topical products. MYM also has an interest in the development of high-density farming facilities and technologies that allow MYM to expand its brand into the global market.

ABOUT THERACANN CANADA

TheraCann Canada Benchmark Corporation offers a one-stop, full-service solution for the Canadian cannabis marketplace. From regulatory applications, planning, facility design, cultivation, marketing and communications, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements. TheraCann Canada is subsidiary of TheraCann International Benchmark Corporation. More information about TheraCann is available at www.theracanncorp.com.

 

Lets Talk Mental Health!

mental_health_300January 27, 2016 marks the 6th annual #BellLetsTalk day when Canadians are invited to openly talk about mental health issues in an effort to reduce the stigma surrounding it. Did you know that mental health is the leading cause of workplace disability in Canada? More importantly, only 1/3 of those who require mental health-related services in Canada will receive treatment.

There is often a stigma attached to the use of medical marijuana for treatment of various ailments – including mental health issues. According to this Medical Daily article, a preliminary study from the University of Buffalo suggests that medical marijuana can be effective in treating depression, PTSD, anxiety and stress.

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