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WE ARE GOING TO SEE A LOT OF M&A IN THE CANNABIS BUSINESS
High Times Buys DOPE Magazine For $11M: Here's Why And What It Means For The Cannabis Industry
Today 3:02 PM ET (Benzinga)Print
Most enthusiasts would agree High Times and Dope Magazine are the best-known brands in the cannabis-focused media landscape.
What Happened
In the latest move toward consolidation in the industry, High Times announced Wednesday it has acquired DOPE Media in a split of cash and stock transaction valued at $11.2 million.
This acquisition follows those of CULTURE and Green Rush Daily, and comes amid the parent company’s ongoing Regulation A+ crowdfunding campaign, intended to raise funds for a public listing later this quarter.
Why It's Important
"The acquisition of Dope Media will be a key building block as we continue on our mission to create brand-safe inventory for brands of all sizes," High Times CEO Adam Levin told Benzinga. "The acquisition specifically allows us to offer better localized offerings (which is hugely important for the growth of our industry, still stifled due to restrictive legislation and the outdated federal marijuana ban.”
Beyond Dope’s strong brand name, High Times is acquiring Dope’s magazine, website, events business and staff. This includes CEO George Jage, the former president of Marijuana Business Daily, a company he says he helped grow more than 3,000 percent in under three years.
“This is a smart trade on both sides of the table,” Jage said. “It is a big win for Dope to be able to tap into the reach and resources of High Times as the largest cannabis media company in the world.”
Drake Sutton-Shearer, CEO and founder of Prohbtd, another cannabis-focused media company, said that “as the cannabis industry undergoes consolidation, media properties will be a part of that trend. Now that High Times has a consumer magazine portfolio of cannabis brands, it will be interesting to see how that translates to future digital revenue.”
What's Next
Last week, High Times announced it had cleared escrow on $5 million raised from more than 6,000 new investors. The brand also decided to extend the deadline for investing in the offering, and it's now open as late as Oct. 31 ahead of its intended public listing this year.
It should be noted some investors, analysts and the company itself have warned about the elevated risk investing in High Times’ RegA+ raise implies. An SEC filing reads: “This investment is suitable only for persons who can bear the economic risk for an indefinite period of time and who can afford to lose their entire investment. Furthermore, investors must understand that such investment is illiquid and is expected to continue to be illiquid for an indefinite period of time. No public market exists for the securities.”
Levin remains optimistic.
"We couldn't be more proud of our growth and success over this past year-and-a-half, but receiving this level of acknowledgement and support from the community doubles down on our belief that we're moving in the right direction and that the community is behind us," he said last week.
It would make sense but Q is can they afford us?? I mean they will be competing with big $$ to acquire us ..
INTERESTING ARTICLE
THANKS NONAMEFACE
Proposed Doubling of 2019 Marijuana Production Quota Brings DOJ and DEA To A Fork in the Road
Posted: 20 Sep 2018 07:09 PM PDT
By John A. Gilbert & Larry K. Houck —
In the words of the inimitable Yogi Berra: “When you come to a fork in the road, take it.”
Last month the U.S. Department of Justice (“DOJ”) and the Drug Enforcement Administration (“DEA”) proposed significant reductions of Schedule II opioid pain medication quantities to be manufactured next year. DOJ, Press Release, Justice Department, DEA Propose Significant Opioid Manufacturing Reduction in 2019 (Aug. 16, 2018). See The Third Cut Is the Deepest: DEA’s Continued Slashing Of Annual Quotas Lacks A Clear Rationale (Aug. 21, 2018). In contrast with significantly reducing the aggregate production quotas (“APQs”) of certain opioids, DEA proposed a significant increase of the 2019 marijuana APQ and proposed that tetrahydrocannabinols (“THC”) APQ remain at the 2018 level. Proposed Aggregate Production Quotas for Schedule I and II Controlled Substances and Assessment of Annual Needs for the List I Chemicals Ephedrine, Pseudoephedrine, and Phenylpropanolamine for 2019, 83 Fed. Reg. 42,164, 42,167 (Aug. 20, 2018).
DEA establishes APQs for schedule I and II substances, and certain List I chemicals, that limit the aggregate quantity of a drug that can be manufactured each year. The proposed marijuana APQ for 2019 (2,450,000 grams or 5,400 pounds) represents a five and a half-fold increase over the initial 2018 marijuana APQ (443,680 grams or 978 pounds), and more than doubles the adjusted 2018 marijuana APQ (1,140,216 grams or 2,500 pounds).
The proposed marijuana APQ leads us to ask who is going to use all of this quota? Is the University of Mississippi, the current sole DEA-registered marijuana cultivator, gearing up to cultivate the increased marijuana quantities for 2019? Or, is Attorney General Jeff Sessions finally going to give DEA the green light to review and process the twenty-six applications it began receiving in 2016, and issue registrations to legitimate entities to cultivate marijuana for research? Given recent events and for the reasons outlined below, the latter appears more likely if not necessary.
For over 50 years, DEA has granted only one manufacturer registration for marijuana, thus restricting all marijuana production for research to the University of Mississippi under contract with the National Institute on Drug Abuse (“NIDA”). DEA limited marijuana cultivation to a single grower based on its belief that manufacturing by a single registrant decreased the likelihood of diversion. Of course until recently, the University of Mississippi was able to meet the limited demand for research-grade marijuana.
Then, in August 2016, DEA stated that along with the National Institutes on Health and FDA it “fully supports expanding research into the potential medical utility of marijuana and its chemical constituents.” Applications to Become Registered Under the Controlled Substances Act To Manufacture Marijuana To Supply Researchers in the United States, 81 Fed. Reg. 53,846 (Aug. 12, 2016). DEA acknowledged recent increased interest in research with cannabinoids including cannabidiol (“CBD”), and based upon discussions with NIDA and FDA, “concluded that the best way to satisfy the current researcher demand for a variety of strains of marijuana and cannabinoid extracts is to increase the number of federally-authorized marijuana growers.” Id.
DEA observed that the single cultivator system was geared towards federally-funded and academic research, not commercial product development, and announced that its new approach with multiple cultivators would foster not only federally-funded and academic research, but also private commercial drug product development. Id.
To that end, DEA announced that it would accept and consider additional applications for registration to grow and cultivate marijuana for research. DEA has received twenty-six applications for registration to manufacturer marijuana since August 2016. Letter to Jeff Sessions, Attorney General, DOJ (July 25, 2018); Letter to Jeff Sessions, Attorney General, DOJ (Aug. 31, 2018). DEA has requested routine background information from some of the applicants, but appears to have done little else with the applications.
So why the inaction? It appears that both the House and Senate believe the Attorney General is the hold-up. Federal lawmakers have prodded the Attorney General on a number of occasions to allow DEA to act on the applications. A July 25, 2018 letter from a bipartisan group of eight Senators quoted Sessions as stating during testimony in April 2018 that: “We are moving forward and we will add, fairly soon . . . additional suppliers of marijuana under the Controlled [Substances Act],” and had testified in a prior hearing that: “It would be healthy to have some more competition in the [marijuana] supply.” Letter to Jeff Sessions, Attorney General, DOJ (July 25, 2018).
More recently, an August 31, 2018 letter from fourteen congressional members, also posed the following questions to Attorney General Sessions:
What is the current status of the twenty-six marijuana manufacturer applications?
What steps have DEA and DOJ taken to review the pending applications?
When does Mr. Sessions estimate that DEA will have completed its review of the applications and issue registrations?
Id., and Letter to Jeff Sessions, Attorney General, DOJ (Aug. 31, 2018).
Finally, last week the House Judiciary Committee approved by voice vote the Medical Cannabis Research Act of 2018 (H.R. 5634), which was introduced in the House on April 26, 2018. The bipartisan bill would require the Attorney General through DEA to issue registrations to at least two additional applicants to manufacture marijuana for legitimate research purposes within a year, and to register at least three applicants in subsequent years. Medical Cannabis Research Act of 2018, H.R. 5634, 115th Cong. (2018). Registered manufacturers would be limited to transferring or selling marijuana to DEA-registered schedule I researchers for “use in preclinical research or in a clinical investigation pursuant to an investigational new drug exemption” the Food, Drug and Cosmetic Act. Id. § 2(a)(2).
DEA has analyzed relevant data and has set its 2019 APQ that “reflects the total amount of controlled substances necessary to meet the country’s medical, scientific, research, industrial, and export needs for the year and for the establishment and maintenance of reserve stocks.” DOJ, Press Release, Justice Department, DEA Propose Significant Opioid Manufacturing Reduction in 2019 (Aug. 16, 2018). We agree with DEA’s August 2016 statement that the best way to satisfy increased researcher demand for marijuana and its extracts is to increase the number of registered cultivators. We wonder whether the University of Mississippi can meet the increased demand for marijuana over the next year. Clearly Members of Congress do not think so. Clearly if DOJ and DEA are serious about approving expanded research into the medical use of marijuana they need to approve additional registrations from qualified applicants who can demonstrate compliance with DEA requirements.
Having increased the marijuana APQ necessary to meet the country’s legitimate research needs for 2019, the Attorney General, DOJ and DEA are at a fork in the road. They need to take it.
http://www.fdalawblog.net/2018/09/proposed-doubling-of-2019-marijuana-production-quota-brings-doj-and-dea-to-a-fork-in-the-road/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+FdaLawBlog+%28FDA+Law+Blog%29
Welcome back....
Great! about time they start covering...!
Gottlieb to E-Cigarette Manufacturers: Reduce Youth Use or I Will END You
September 18, 2018
http://www.fdalawblog.net/2018/09/gottlieb-to-e-cigarette-manufacturers-reduce-youth-use-or-i-will-end-you/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+FdaLawBlog+%28FDA+Law+Blog%29
The law we have in France...…
These new French cigarette packs are designed to dissuade people from smoking
https://www.vox.com/2016/4/5/11368368/france-cigarette-boxes-plain
Court Requires FDA to Follow Law Requiring Graphic Warnings on Cigarettes
September 11, 2018
By Anne K. Walsh & David B. Clissold —
A district court in Massachusetts scolded FDA for failing to meet a two-year deadline for issuing a final rule mandating color graphic warnings on cigarettes. This decision is important for the public health interests associated with the graphic warnings, but interesting for the loss dealt FDA under the Administrative Procedure Act (“APA”).
As background, the Family Smoking Prevention and Tobacco Control Act of 2009 required FDA to promulgate a final rule mandating color graphic warnings on cigarette packs and in cigarette advertising by June 22, 2011, i.e., two years after Congress enacted the statute. FDA issued a final rule within the two year time period requiring the use of nine text warnings accompanied by graphic images. A group of tobacco product manufacturers and sellers promptly challenged the rule, alleging that it violated their constitutional right to free speech. The district court agreed with industry, and the D.C. Circuit upheld the lower court’s decision and vacated the final rule in 2012.
A coalition of physician groups and cancer associations filed the instant suit to force FDA to follow the mandate of the Tobacco Control Act and issue new graphic warnings requirements. They alleged that FDA violated the APA because it “unlawfully withheld” agency action, or in the alternative, “unreasonably delayed” the final rule. FDA explained to the court that following the 2012 D.C. Circuit decision, the agency formed a working group to research the text of warning statements. In 2015, FDA contracted with a communications and marketing firm to develop new graphic warning image concepts that were tested in discussion groups. FDA revised the warnings and then contracted a social science research firm to conduct focus group testing on the revised warnings. FDA further modified the warnings in response to these results. FDA explained to the court that additional research was being planned, including another round of focus group review, and two quantitative studies. The research would then be used to support a formal rulemaking, which FDA estimated would conclude in November 2021.
The Honorable Indira Talwani agreed with the plaintiffs that FDA violated the APA because it both “unlawfully withheld” agency action, and “unreasonably delayed” the final rule.
“Unlawfully Withheld” Standard. Plaintiff argued that the court should compel agency action here because Congress established a firm, enforceable deadline in the statute. The district court agreed, highlighting the distinction that exists under the APA when the statute “impose[s] a date-certain deadline on agency action,” and not just a general admonition to act “within a reasonable time.” The court found that FDA’s duty to promulgate a rule under the Tobacco Control Act is “nondiscretionary”: “Not later than 24 months after June 22, 2009, the Secretary shall issue regulations that require color graphics depicting the negative health consequences of smoking to accompany the label statements . . . .” Even though FDA pointed to its original compliance with the two year deadline before vacatur, the court held that the vacatur “simply return[s] matters to where they stood before,” thus resetting the two-year clock. The court stated that “it cannot be the case that the FDA has freed itself from Congressional mandates and may now take the opportunity to promulgate this rule at whatever pace it chooses.”
“Unreasonably Delayed” Standard. The court also walked through the six TRAC factors, named after the D.C. Circuit Court case establishing the test for “unreasonable delay.”
the time agencies take to make decisions must be governed by a rule of reason;
where Congress has provided a timetable or other indication of the speed with which it expects the agency to proceed in the enabling statute, that statutory scheme may supply content for this rule of reason;
delays that might be reasonable in the sphere of economic regulation are less tolerable when human health and welfare are at stake;
the court should consider the effect of expediting delayed action on agency activities of a higher or competing priority;
the court should also take into account the nature and extent of the interests prejudiced by delay; and
the court need not find any impropriety lurking behind agency lassitude in order to hold that agency action is unreasonably delayed.
The court used reprimanding language in its opinion to describe the two year “detour” after the appellate decision vacating the final rule and the “gaps of time where little to no work was completed,” and noted that FDA’s current timeline proposes a period of “four times the initial amount of time set by Congress.” The court also noted that “FDA has not articulated a single higher priority” to justify the “competing priorities” required under the fourth TRAC factor, but requests that the court defer to FDA’s priority choices without regard to those dictated by Congress. Thus, the court found there was “unreasonable delay” and ordered FDA to provide within three weeks (by September 26, 2018) an expedited schedule for issuing a final rule (including completion of studies, and notice-and comment rulemaking). The court also offered time for plaintiffs to review and respond to FDA’s proposed schedule, and stated that it intends to direct further action following review of the schedule.
Given the deference typically afforded agencies in their statements of what is a reasonable timeline, this case is a notable win for challenges to agency (in)action. It will be interesting how much FDA’s new schedule shaves off its initial proposed deadline of November 2021, and whether FDA will use this “expedited” schedule as a basis for pushing other competing priorities on the backburner.
http://www.fdalawblog.net/2018/09/oh-how-the-tables-have-turned-court-requires-fda-to-follow-law-requiring-graphic-warnings-on-cigarettes/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+FdaLawBlog+%28FDA+Law+Blog%29
I like the news, trying to find more research on this company but this board is dead...
I just own a thousand shares as speculative , I found out about this Cie researching on MVIS (Microvision )
Beverage giants eye Canadian cannabis players
Aug. 29, 2018
The large investment by Constellation Brands (STZ +1.1%) in Canopy Growth Corp. (CGC +3.8%) is still reverberating around the beverage industry as some of the larger names scramble to keep up.
Execs from Anheuser-Busch InBev (BUD), Pernod Ricard SA (OTC:PRRDF), Heineken (OTCQX:HEINY +0.1%), Coca-Cola (KO -0.2%) and Diageo (DEO +0.3%) have been meeting with various cannabis producers and touring their operations, sources tell The Globe and Mail. Molson Coors (TAP -0.1%) is already a leg ahead of the pack through its joint venture arrangement with Hydropothecary.
Analysts expect the beverage giants to take equity stakes and make JV arrangements, instead of seeking a full takeover of legal cannabis players.
The Globe and Mail report didn't mention particular names that are on the M&A radar, although many of the stocks listed below have been bid up on some deal speculation
https://seekingalpha.com/news/3386515-beverage-giants-eye-canadian-cannabis-players?app=1#email_link
Can only be good for us!!
India cracking down on e-cigarette sales?
Aug. 29, 2018 4:48 AM ET|By: Yoel Minkoff, SA News Editor
India's federal health ministry is calling for stopping the sale or import of electronic cigarettes and heat-not-burn tobacco devices that companies like Philip Morris (NYSE:PM) were planning to launch in the country.
The country has 106M adult smokers, second only to China. In recent years, the government has intensified its tobacco-control efforts, raising cigarette taxes and ordering companies to print bigger health warnings
is the black market pot 100% safe? I think pot industry should be and eventually will be regulated like the alcohol one.
Significant portion of California pot failing safety tests
Jul. 31, 2018 12:27 PM ET|By: Douglas W. House, SA News Editor
Cannabis consumers in California should be aware that they may be ingesting weed that lags state-sanctioned safety standards that went into effect July 1.
About 20% of the pot tested failed to meet state standards, mainly (68% of the batches tested) due to inaccurate claims on the labels, including overstating the amount of THC in the product. Almost 20% of the failures were due to excessive pesticide residue, about 6% from microbial impurities and 5% due to the presence of concentrated waxes and oils that harbor residual solvents like ethanol and butane.
There are 57 labs in the state authorized to test marijuana. Almost 5,300 batches have been tested since the first of the month. According to an industry trade group, only 5% of cannabis products are tested for safety. Some experts believe as much as half of the pot grown is contaminated with potentially dangerous chemicals or bacteria.
Beginning in 2019, all marijuana products sold in California will also be tested for heavy metals and mycotoxins (toxins from mold).
E-cigarettes and tobacco product use linked to increased risk of oral cancer
Date:
July 29, 2018
Source:
International Association for Dental Research
Summary:
New research shows that most non-cigarette tobacco users are exposed to carcinogen levels comparable to or exceeding exposure among exclusive cigarette smokers -- levels that are likely to place users at substantial risk.
https://www.sciencedaily.com/releases/2018/07/180729194047.htm
Yes I am aware of what he does right or wrong (mostly wrong)
and yes he is definitely looking for a run at the white house....
Bill aimed at combating 'third-hand smoke' awaits Cuomo's signature
It would prohibit smoking at all times in rooms used for licensed child day care in homes, even when children aren't in the house or apartment.
ALBANY — Legislation that supporters say would be one of the nation’s first measures aimed at combating “third-hand smoke” is awaiting Gov. Andrew M. Cuomo's signature.
The bill, passed by the State Senate and Assembly in June, would prohibit smoking at all times in rooms used for licensed child day care in homes, even when children aren’t in the house or apartment.
Supporters say the idea is to reduce cigarette residue left on furniture and walls long after smoking ceases.
An opponent said the proposal represented an unconstitutional intrusion into the home.
The Senate and Assembly passed the bill in June. It is now up to Cuomo to sign or veto by the end of the year.
In a memo in support of the bill, legislators cited research showing residual contamination from cigarette smoke on carpets, walls, sofas, clothing and toys can linger for months after smoking stops. Researchers said the residue can be ingested by breathing and touching.
“The evidence is overwhelming and compelling: Tobacco leaves behind a toxic, persistent and costly legacy wherever it has been used regularly,” said Georg E. Matt, a professor of psychology at the San Diego State University Foundation who is part of a team studying third-hand smoke.
The research showed “massive amounts” of third-hand smoke in an apartment three years after a heavy smoker left the residence and at a level similar to that of a home with active smokers, he said.
https://www.newsday.com/long-island/politics/andrew-cuomo-smoking-1.19993357
From a personal experience one of my neighbor say he can smell the smoke coming thru the wall of his next door neighbor who is an heavy smoker but do not inhale.
Also another friend just bought his place and the walls where all yellow, he thought it was yellow paint, turns out it was from heavy smoking and it took him a couple of months of aeration before the smell was gone.
Talking about cigars...…
By Tobacco Business -
July 17, 2018
Senators Continue to Challenge FDA Regulation of Premium Cigars
https://tobaccobusiness.com/senators-continue-to-challenge-fda-regulation-of-premium-cigars/
Great article yesterday on Hemp..
Farm Bill talks invigorate hope for hemp in the Valley
https://thebusinessjournal.com/farm-bill-talks-invigorate-hope-for-hemp-in-the-valley/
Something from this morning PR doesn't sit well with me (But in a good way :).. May be just Semantic …...
.22nd Century’s public comments to the FDA’s ANPRM describe how the FDA’s proposed rule to require[color=red][/color] that all cigarettes sold in the United States contain only minimally or non-addictive levels of nicotine is supported by rigorous independent science
In preparation for the prompt implementation of the new FDA rule[color=red][/color], 22nd Century is already growing increased amounts of the Company’s VLN™ tobacco in order to be able to supply a sufficient quantity of the Company’s proprietary VLN™ tobacco seeds to grow enough VLN™ tobacco for the entire U.S. tobacco industry in just one growing season.
Now I know that English is only my second language but
"In preparation for the prompt implementation" would means that the decision has already been made No?? Does XXII knows that already??
I would have written "in Anticipation of a favorable ruling..."
As far as we all know the FDA hasn't rule yet … and XXII is already increasing the amount of VLN tobacco...
Better be safe than sorry.....The ruling could take days or weeks and I hope not months....
I like it anyway that we are treating it as a done deal! :)
Maybe the ones shorting this stock saw the writing on the wall, they know that soon XXII PPS will be much higher so instead of buying at normal price they short it and at the same time they accumulate shares at lower price....or something like that.... Hey what do I know...
Agree with you here Brooklyn I think your intelligent conversation with Esad is very valuable to this board and keeps the dynamic going ..
Can we all get along and agree to disagree!!
After all we are ALL here for the same reason.....
Long XXII !!....
“When the FDA’s plan is enacted, 22nd Century’s Very Low Nicotine tobacco varieties could form the foundation for, quite literally, ALL tobacco cigarettes sold in the United States.”…….
…....
22nd Century Reports on New Responses to the FDA's Nicotine Reduction Plan
Today 9:38 AM ET (Benzinga)Print
22nd Century Group, Inc. (NYSE American: XXII), a plant biotechnology company that is a leader in tobacco harm reduction and Very Low Nicotine tobacco, today highlights two important submissions to the U.S. Food and Drug Administration (FDA). Altogether, nine separate researchers authored these particular submissions in response to the FDA’s Advance Notice of Proposed Rulemaking (ANPRM) to require that nicotine levels in combustible cigarettes be lowered to minimally or non-addictive levels. 22nd Century’s proprietary VLN™ tobacco cigarettes were used by the FDA in formulating the Agency’s plan to dramatically reduce the nicotine content of cigarettes. 22nd Century is the only company in the world now growing multiple varieties of Very Low Nicotine flue-cured and burley tobacco varieties to satisfy the FDA’s planned mandate that will reduce drastically the nicotine levels of all cigarettes sold in the United States.
The open comment period for the FDA’s ANPRM on a nicotine product standard for cigarettes ends July 16, 2018. To date, major medical associations, government agencies, tobacco insiders, and the public at large have submitted nearly 5,000 public comments to the FDA.
Noted scientific researchers Neal Benowitz, M.D., Eric Donny, Ph.D., Kathryn Edwards, Ph.D., Dorothy Hatsukami, Ph.D., Tracy Smith, Ph.D., and Clifford Watson, Ph.D. coauthored a letter from the University of California – San Francisco (UCSF) that identified a “minimally addictive” nicotine content for cigarettes as follows:
"The amount of nicotine needed to make cigarettes minimally addictive appears to be 0.4 to 0.5 mg nicotine per gram of tobacco in the tobacco rod. This represents a reduction of nicotine content of 95% or more compared to currently available commercial cigarettes."
22nd Century’s SPECTRUM® Very Low Nicotine research cigarettes contain less than 0.5 mg nicotine per gram of tobacco – exactly the level specified in the UCSF submission. The above-noted researchers also conclusively refuted claims that Very Low Nicotine cigarettes could cause smokers to increase their smoking:
“Effectively compensating to maintain nicotine exposure is virtually impossible when switching to cigarettes with minimally addictive nicotine content."
In another recent submission to the FDA regarding the FDA’s ANPRM to limit dramatically the nicotine content of cigarettes, noted scientific researchers Megan Piper, Ph.D., David Drobes, Ph.D., and Natalie Walker, Ph.D. address the issues of smoking dependence and smoking abstinence when smokers switch exclusively to Very Low Nicotine content cigarettes. Citing a number of scientific studies investigating nicotine dependence, these researchers explain:
“…there is direct evidence that smoking reduced nicotine cigarettes is associated with reduced dependence (both self-reported dependence and dependence related criteria such as withdrawal, cravings) and ultimately smoking abstinence.”
In conclusion, Drs. Piper, Drobes, and Walker cite scientific clinical evidence to show that an immediate switch to Very Low Nicotine content cigarettes results in:
“1) a reduction in validated dependence measures…; 2) a reduction in cigarettes smoked; 3) a reduction in biomarkers of nicotine exposure; and 4) a reduction in withdrawal symptoms”
“The scientists responsible for many of the independent clinical trials using 22nd Century’s proprietary VLN™ cigarettes continue to refute the objections raised to the FDA’s nicotine reduction plan and hasten the road to final implementation of the life-saving mandate,” explained Henry Sicignano, III, President and Chief Executive Officer of 22nd Century Group. “When the FDA’s plan is enacted, 22nd Century’s Very Low Nicotine tobacco varieties could form the foundation for, quite literally, ALL tobacco cigarettes sold in the United States.”
Thanks Brooklyn.....
You explained it better than I would have had..
Anyway I didn't think when I posted that I would have to explain my post
Yes the lobbyists are everywhere specially in the Tobacco industry...and they work the same way....
Just saw this article on another board and found it interesting...
Any thoughts??
An investigative report uncovers little recognized and unpoliced potential conflicts of interest among those who serve on FDA advisory panels that review drugs. Some members of such panels are later receiving significant payments from either the makers of drugs they previously reviewed, or from competitors. This is happening despite the FDA's established system to identify possible financial conflicts of interest among those recruited for the drug advisory panels. The investigation analyzed records on the federal Open Payments website between 2013 and 2016. Of 107 physician advisors who voted on FDA advisory committees during this time, 26 later took more than $100,000 from the makers of drugs, or from competing firms. in post-hoc earnings or research support. Even though these payments might not be truly "quid-pro-quo," according to Vinay Prasad, an oncologist who also studies financial conflicts that exist in drug approvals, those asked to weigh in stand to gain tremendously in their further professional careers. "It's in their best interest to play nice with the companies." FDA may also have missed or judged insignificant financial ties physicians had before their service on the drug approval advisory panels.
http://science.sciencemag.org/content/361/6397/16
http://www.sciencemag.org/news/2018/07/methodology-fda-adviser-and-staff-investigations
Las Vegas could OK marijuana public consumption lounges by end of 2018
Alcohol+ Gambling + now Marijuana = best way to loose $$
Las Vegas city officials could vote on social use venues for public cannabis consumption in as soon as three months, and one industry insider expects an ordinance allowing the venues to be finalized by the fourth quarter of 2018.
According to Scot Rutledge, a cannabis advocate and partner at Argentum Partners in Las Vegas, the city’s staff has been working on making this happen for at least nine months.
Here’s what you need to know:
The lounges would allow cannabis consumption in a social setting.
TV station KSNV reported that the city conducted a public workshop to discuss the draft ordinance for the social use venues, which would primarily be designed to allow cannabis smoking.
Las Vegas city officials told attendees of the public workshop the earliest the council would take up a vote on the lounges would be three months and that public input is still being taken.
Nevada regulators have previously discussed allowing public consumption lounges, but Rutledge says Sin City isn’t waiting for state approval. “Las Vegas is going to do this regardless,” he said.
https://mjbizdaily.com/las-vegas-could-approve-marijuana-public-consumption-lounges-by-end-of-2018/
Tokyo passes anti-smoking law
Jun. 28, 2018 6:03 AM ET|By: Yoel Minkoff, SA News Editor
Tokyo has passed an ordinance that essentially bans smoking inside 84% of the city's bars and restaurants, which would come into force in April 2020, ahead of the Summer Olympic Games.
While the regulations may dent overall tobacco demand, over the medium term they may boost the market for heat-not-burn tobacco products, which would still be permitted in eating and drinking outlets.
Not a good PR/image for the tobacco cie
Child labour rampant in tobacco industry
https://www.theguardian.com/world/2018/jun/25/revealed-child-labor-rampant-in-tobacco-industry
FDA approves first cannabis-based drug
That's a great start finally!!
This is an important medical advance," FDA Commissioner Dr. Scott Gottlieb said in a statement Monday. "Because of the adequate and well-controlled clinical studies that supported this approval, prescribers can have confidence in the drug's uniform strength and consistent delivery."
https://www.cnn.com/2018/06/25/health/fda-approves-first-cannabis-drug-bn/index.html
News...One...Two punches.....
22nd Century Group Added to Russell 2000, Russell 3000 and Russell Global Indexes
Company announces pending gain on its investment in research partner, Anandia Labs, to Aurora Cannabis
Press Release: 22nd Century Group Added to Russell 2000, Russell 3000 and Russell Global Indexes
Today 9:35 AM ET (Dow Jones)Print
22nd Century Group Added to Russell 2000, Russell 3000 and Russell Global Indexes
Company announces pending gain on its investment in research partner, Anandia Labs, to Aurora Cannabis
WILLIAMSVILLE, N.Y.--(BUSINESS WIRE)--June 25, 2018--
22nd Century Group, Inc. (NYSE American: XXII), a plant biotechnology company that is a leader in tobacco harm reduction, Very Low Nicotine tobacco, and hemp/cannabis research, announced today that the Company was added to the Russell 2000, Russell 3000, and Russell Global indexes on June 22, 2018 when Russell FTSE (Russell) reconstituted its U.S. and global equity indexes. Russell added 22nd Century to the Russell Microcap index in 2017.
Russell determines inclusion of companies in its equity indexes by market-capitalization rankings and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell publicly states that approximately $8.6 trillion in assets are benchmarked against Russell's U.S. indexes.
In other news, 22nd Century announced that research partner, Anandia Laboratories, a global leader in cannabis genetics and R&D, has publicly announced that it signed a term sheet to be acquired by Aurora Cannabis Inc. (TSX: ACB.TO). The transaction values Anandia at approximately $115 million Canadian, payable in units consisting of one share of Aurora common stock plus a warrant to purchase one-half of a share of Aurora common stock, for each share of Aurora that is issued to Anandia. At the closing of this transaction, the value of the shares of Aurora common stock that will be issued to 22nd Century Group in consideration for the Company's approximately 14.8% equity ownership of Anandia, will be approximately $17 million Canadian (approximately $12.8 million U.S.).
"We are pleased to have been added to the Russell Indexes... and we are very pleased that our initial investment in Anandia Labs has increased in value by more than 9 times. Further, our existing and continuing agreements with Anandia provide 22nd Century with an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, outside of Canada, to patents and patent applications relating to the hemp/cannabis plant and to the production of cannabinoids," explained Henry Sicignano, III, President and Chief Executive Officer at 22nd Century Group. "The Anandia sublicense continues through the life of the last to expire patent, which is expected to be in the year 2035; in the meantime, we will receive free-trading shares of Aurora Cannabis worth approximately $13 million... in addition to a substantial number of 5-year warrants to purchase Aurora shares at a fixed price. All in all, the Anandia-Aurora transaction will be a great result for 22nd Century shareholders."
Smoking Hot Dividend Hike Coming From Altria
I never knew or maybe care to know how much is their Quarterly dividend.. Huge!! Hopefully maybe one day XXII will pay us out the same dividend? :)
This is an excerpt. the part interesting to us......
" however, it has suffered a pretty solid correction from $78 to the current share price of approximately $57 - down 27%. The culprit was news that the FDA might consider introducing maximum levels of nicotine in cigarettes. The FDA is still working on this, so it's clearly still a risk."
"Risk Factors
The cash flow and dividend from tobacco stocks are really nice. However, this comes with risks. Smoking rates are still falling, as it has been for decades. With volumes declining, Altria has to increase prices more than volumes decline. Though tobacco is an inelastic product, there are limits to how far this can be stretched. Regulations are not going away anytime soon if anything they are getting worse. As already mentioned, the FDA is evaluating whether to impose maximum levels of nicotine in cigarettes. Plain packaging is spreading. Though the impact is still in question, it is probably not helpful in expanding sales volumes. Lastly, rapid increases in excise taxes can further reduce volumes sold."
Now the author is Questioning the two dividend hikes
August Dividend Hike...
Here
"So the first question to ask here is: When the Board increased the dividend in March, will it do so in August as well? The answer is yes! Shareholders of Altria have already been offered a nice surprise this spring but can still look forward to a pleasant hike in August.
There is absolutely no good reason for the Board to offer a totally unexpected increase in March if it thought it couldn't also offer the usual increase in August. On the low end, one could imagine the Board dividing the total planned hike for 2018 evenly in two. That is 4 cents in March and another 4 cents for a new quarterly dividend of $0.74. In total, then, the increase would be 8 cents or 12% from last year's level".
Could it be that they see trouble on the horizon for the stock price to decline and they are propping up their dividend in hope that people won't sell the stock??
What do you think??
ps) nice day for XXII must be on the anticipation of the Russel on Monday
https://seekingalpha.com/article/4183395-smoking-hot-dividend-hike-coming-altria
Molson Coors in talks with marijuana companies
Interesting, I guess it's gonna be a fight between bigT and Alcohol company??….The first mover win!
Jun. 22, 2018 2:32 PM ET|By: Stephen Alpher, SA News Editor
With pot legalization looming in Canada, and aiming for growth as beer sales decline, Molson Coors (TAP +1.9%) has been in talks with up to four Canadian cannabis companies, according to Bloomberg. The discussions, says the report, are "serious," with a deal maybe announced by year-end.
Among the companies with which TAP has talked with are Aphria (OTCQB:APHQF -4.4%) and Aurora Cannabis (OTCQX:ACBFF -3.4%).
Molson Coors wouldn't be the first alcohol-related company to enter the marijuana space, but - with a market cap near $15B - it would be the largest. Constellation Brands (STZ +0.2%) last year, purchased a 9.9% stake in Canopy Growth (CGC -6.7%) for $245M.
https://seekingalpha.com/news/3365880-molson-coors-talks-marijuana-companies-bloomberg?app=1#email_link
Texas Republican Party Endorses Marijuana Decriminalization
Quote:
Delegates at the Republican Party of Texas convention on Saturday voted to approve platform planks endorsing marijuana decriminalization, medical cannabis and industrial hemp. They are also calling for a change in cannabis's classification by the federal government.
Photo by Vince Chandler / The Denver Post
"We support a change in the law to make it a civil, and not a criminal, offense for legal adults only to possess one ounce or less of marijuana for personal use, punishable by a fine of up to $100, but without jail time," reads one of the party's new positions.
"Congress should remove cannabis from the list of Schedule 1," says another.
A third asks lawmakers to expand an existing state law that provides patients with limited access to low-THC medical cannabis extracts so that doctors can "determine the appropriate use of cannabis to certified patients."
And a fourth says industrial hemp is a "a valuable agricultural commodity."
That the official GOP organ in a red state like Texas would voice support for such far-reaching cannabis reforms is the latest sign of how mainstream marijuana has become in American politics.
Earlier this month, President Trump voiced support for pending bipartisan congressional legislation to let states implement their own marijuana legalization laws without federal interference. U.S. Senate Majority Leader Mitch McConnell (R-KY) is shepherding hemp legalization legislation to passage, with the support of Minority Leader Chuck Schumer (D-NY).
The Democratic Party of New York endorsed legalizing marijuana at its convention last month.
"Texas Republicans, like the majority of Americans, are ready to see more sensible marijuana policies enacted," Heather Fazio, coalition coordinator for Texans for Responsible Marijuana Policy, said in an interview. "Our state wastes valuable criminal justice resources arresting between 60,000-70,000 Texans annually. Delegates took a stand this week for a better approach."
"While it would be preferable for cannabis to be de-scheduled entirely, this call by the Texas GOP signifies a very positive shift in opinion. Outright prohibition is not working and Texas Republicans want to see Congress take action to make cannabis more accessible."
The new planks cleared a multi-step process at the party convention—including testimony before and approval by two committees earlier this week—leading up to Saturday's vote by nearly 10,000 delegates.
Supporting marijuana decriminalization, federal cannabis rescheduling and industrial hemp is now the official position of the Republican Party of Texas.
Under current state law, possession of up to two ounces of marijuana is a criminal offense punishable by a jail sentence of up to six months and a fine of up to $2,000.
Lawmakers legalized medical use of low-THC medical cannabis extracts in 2015. During last year's legislative session, bills to provide more comprehensive medical cannabis access and to decriminalize marijuana got record support from lawmakers and advanced in committees, but the clock on the legislative session ran out before floor votes could occur.
Cannabis reform activists hope that the new official GOP endorsement will provide a boost leading into the next session, which begins in January.
"Under the current [medical cannabis] program, most patients are being left behind," Fazio said. "Texas conservatives are seeing the value of medical cannabis and want to see more inclusive access. Now we will take this to the Legislature for action during the 2019 legislative session."
At the party event this week, there were four cannabis-focused booths at which delegates could get information about the issue (three from supporters and one from an opposition group), marking the first year that marijuana organizations had a presence in the convention expo area, according to Fazio.
During a floor debate on platform planks on Saturday, one delegate moved to narrow the endorsement for hemp to cover support only "for the express purpose of non-consumable products," but that was defeated by the convention.
An earlier party platform, approved in 2016, contains a similar medical cannabis expansion plank (as well as a hemp one), but nothing on federal rescheduling or decriminalizing marijuana.
The party's new endorsement comes amid a contentious and close U.S. Senate race between Sen. Ted Cruz (R) who opposes legalization but has voiced support for respecting state cannabis laws, and Congressman Beto O'Rourke (D), who has long supported legalizing marijuana outright.
Meanwhile, a powerful Texas Republican, Rep. Pete Sessions, has used his perch as chairman of the House Rules Committee to block floor votes on cannabis issues in Congress over the past several years. His bid to be reelected in November is considered a toss up by the Cook Political Report.
Texas Democrats hold their convention next week. The party's current platform as adopted in 2016 supports decriminalizing marijuana and further legalizing and regulating its "use, cultivation, production, and sale as is done with tobacco and alcohol."
Civil Penalty: We support a change in the law to make it a civil, and not a criminal, offense for legal adults only to possess one ounce or less of marijuana for personal use, punishable by a fine of up to $100, but without jail time. Passed 81% - 19%.
Compassionate Use Act: We call upon the Texas Legislature to improve the 2015 Compassionate Use Act to allow doctors to determine the appropriate use of cannabis to certified patients. Passed 90% - 10%.
Cannabis Classification: Congress should remove cannabis from the list of Schedule 1 and move to Schedule 2. Passed 82% - 18%.
Hemp: We recognize industrial hemp as a valuable agricultural commodity. We urge the Texas Legislature to pass legislation allowing cultivation, manufacture, and sale of industrial hemp and hemp products. Passed 83% - 17%.
Tom Angell publishes Marijuana Moment news and founded the nonprofit Marijuana Majority. Follow Tom on Twitter for breaking news and subscribe to his daily newsletter.
https://www.forbes.com/sites/tomangell/2018/06/17/texas-republican-party-endorses-marijuana-decriminalization/#7ac9eecd5236
News update out!
22nd Century Conducts Three Short-Term Studies in Support of the Company's MRTP Application to the FDA
Today 9:45 AM ET (Benzinga)
22nd Century Group, Inc. (NYSE American: XXII), a plant biotechnology company that is a leader in tobacco harm reduction and Very Low Nicotine Content tobacco, announced that the Company has initiated three short-term studies investigating the behavioral and biochemical responses to the Company’s proprietary Very Low Nicotine Content tobacco. 22nd Century scientists will submit to the FDA the data collected from these studies as part of the Company’s revised and enhanced Modified Risk Tobacco Product (MRTP) application for “BRAND A” Very Low Nicotine Content cigarettes.
Slated for submission this year, 22nd Century’s MRTP application will request a marketing order from the U.S. Food and Drug Administration (FDA) to allow 22nd Century to disclose to consumers that the VLN™ tobacco of “BRAND A” cigarettes contains at least 95% less nicotine than the tobacco in conventional cigarettes.
22nd Century is the only company in the world that has grown commercial crops of proprietary VLN™ tobacco with nicotine levels of just 0.4mg per gram of tobacco – a level that has been recognized by many public health officials as only “minimally or non-addictive.” Independent clinical trials using 22nd Century’s proprietary SPECTRUM® research cigarettes have shown that Very Low Nicotine Content cigarettes “reduce cravings, reduce consumption of cigarettes, and increase quit attempts.”
As announced by the FDA in July 2017, the FDA is seeking to dramatically reduce the nicotine levels in all cigarettes for precisely the same reasons 22nd Century is developing “BRAND A” as a Modified Risk Tobacco Product. Accordingly, 22nd Century may be the first company in the world to win FDA approval to market a combustible cigarette as a “Modified Risk Tobacco Product.”
22nd Century’s clinical studies are designed to confirm and substantiate further data previously collected by independent researchers. 22nd Century’s short term studies will expand the demographic reach of the independent trials, thus demonstrating the suitability of the Company’s Very Low Nicotine tobacco for a wide range of smokers.
Summaries for two of the studies, “Evaluation of the Abuse Liability of Very Low Nicotine (VLN) Cigarettes” and “Evaluation of the Abuse Liability of Very Low Nicotine (VLN) Mentholated Cigarettes,” are already posted at www.clinicaltrials.gov (https://clinicaltrials.gov/ct2/show/NCT03559751 & https://clinicaltrials.gov/ct2/show/NCT03559725). The third study, “A Longitudinal Ambulatory Study to Assess Changes in Cigarette Consumption Behavior and Biomarkers of Exposure during a 6-Week Switch to Very Low Nicotine Cigarettes,” will be added soon. While the FDA is engaged in the rule-making process to limit nicotine in all cigarettes to minimally or non-addictive levels, 22nd Century’s MRTP application for “BRAND A” Very Low Nicotine Content cigarettes pursues a complementary and potentially faster pathway for regulatory approval.
“22nd Century’s team of scientists, regulatory experts, and specialist consultants are meticulously assembling our revised MRTP application for “BRAND A” Very Low Nicotine Content cigarettes,” explained Henry Sicignano, III, President and Chief Executive Officer of 22nd Century Group. “Later this year, we will submit a robust MRTP application that answers many of the questions the FDA is asking with regard to the Agency’s planned national nicotine reduction mandate. The public deserves – and desperately needs – a minimally or non-addictive cigarette… sooner, rather than later.”
Not sure if it has been posted , been away few times
E-cigarette flavors linked to heart disease, stroke risk: BU study
https://www.metro.us/news/local-news/boston/e-cigarette-flavors-health-risks
Agree another crap article .
I think DTrump should come upfront and support the FDA on limiting nicotine content, saving life and $$ on medical expenses.
Without getting into politic here, he needs a BIG WIN, this one should be an easy one (we also know he is against smoking and this one is completely non partisan (at least when it comes to healthcare saving$)IMHO
XXII
XXII mentioned here
No Updates about the Quest Product
The Quest product was a VLN (very low nicotine) cigarette developed with the partnership of Vector Group and 22nd Century (NYSEMKT:XXII) - which is a micro-cap with annual revenues of 14 million. There is conflicting information regarding Vector Group and Quest technology.
22nd Century claims to own all rights to the Quest product line, but this is hard to sort out because Vector Group has not made any public comments regarding the status of the Quest product. Also, the credibility of the 22nd Century Group is doubtful. Fuzzy Panda Shorts wrote this article, which defuses a lot of the hype around 22nd Century. The article provides documentation that there are 6,366 relevant patents to reduced nicotine products, and evidence that the 22nd Century Founder and former CEO was charged with share price manipulation by the SEC in 1992, and agreed to never mail anonymous letters with false information to pump stocks again.
Also interesting to read those comments.....
https://seekingalpha.com/article/4182206-vector-group-dividend-real?ifp=0&app=1
Nonameface
Thanks for recommending me "Zelda" on XXII board
I am concentrating on US /Canada play but after doing some quick research on ZLDAF I am going to buy some shares just to keep an eye on it first .
MGC sounds interesting too.
Also one stock I own I forgot to mentioned is TRTC