CannabisNewsWire
Editorial Coverage: Growing public acceptance of medical
marijuana is having secondary effects on other industries.
- Products using cannabidiol (CBD) are increasingly popular in
areas such as wellness and cosmetics.
- Hemp production is growing, with experimental projects
improving cannabis cultivation techniques.
- Services needed to support these markets, such as payment
systems, are growing.
Marijuana Company of America, Inc. (OTC: MCOA) (MCOA
Profile) is benefiting from this in many ways, having
invested in hemp, CBD products, rentable cultivation space and
payment systems. Tilray, Inc. (NASDAQ: TLRY) is
producing CBD oils and has become one of the first companies to
sell these for medical use in the United Kingdom. Canopy
Growth Corporation (NYSE: CGC) has received a massive
investment from a drinks company, with the aim of producing
CBD-infused drinks. GW Pharmaceuticals Plc (NASDAQ:
GWPH) created the first prescription medicine derived from
cannabis plants to receive U.S. Food and Drug Administration
approval and is now heavily involved in research into using CBD to
tackle epilepsy. Such drugs may also become useful for fighting
insomnia, the subject of a new study by Cronos Group, Inc.
(NASDAQ: CRON).
To view an infographic of this editorial, click here.
Public Acceptance of Medical Marijuana
Growing
Attitudes towards cannabis and industrial hemp have shifted
significantly in the United States in recent years, reflected by
legal changes at the state level. The majority of states have
legalized these substances for medical use, and a significant
proportion now allow their sale for recreational purposes.
Increasing access and legitimacy have encouraged an already
existing trend toward more liberal views. As a result, 74 percent of Americans now support legislation that
would protect states from federal prosecution for legalizing the
drug.
Most tellingly, major companies are looking to tap into the
popularity of industrial hemp. Coca-Cola, not a company known for
taking great risks, is in talks with a
major grower about a potential collaboration. This would
involve producing drinks infused with cannabidiol (CBD), a
non-psychoactive chemical found in industrial hemp. A growing body
of research into CBD’s potential to relieve pain means that it is
an increasingly popular part of the industry. As recreational
marijuana use is legalized in Canada this month, companies such as
Coca-Cola will use that country to develop and market test products
that may later be sold in the United States.
Turning Public Approval into Profits
Reports about this shift in attitudes provide inherently useful
information for politicians and public health officials. But for
businesses such as Marijuana
Company of America (OTC: MCOA), this information only becomes
useful if they can turn it into profit.
MCOA is doing this by diversifying its activities and expanding
upon existing work to strengthen its position within the market.
The industry is now about much more than just growing and selling
cannabis. It covers industrial hemp, plant processing, support
services, technology and a wide range of products, some a long way
from the smokable plants many people picture when they hear the
word hemp.
The part of MCOA’s work that most obviously benefits from
changing attitudes is its hempSMART line of products. These timely
products are infused with hemp-derived CBD, the same chemical
Coca-Cola is considering putting into drinks. But while it isn’t
yet producing beverages, MCOA has found a wide variety of other
ways to use CBD.
Most of the hempSMART brand is targeted at the wellness market.
Products such as the recently relaunched
hempSMART Brain are formulated to improve the well-being of
consumers, in hempSMART Brain’s case by helping maintain mental
clarity, alertness, focus and concentration. HempSMART has also
entered the cosmetic and skin care realm with its hempSMART Face, a CBD facial moisturizer, which aims
to refresh, replenish, and restore skin providing long-lasting
hydration and balance.
The production and marketing of these products is made easier by
the shift in public perceptions of industrial hemp. As it becomes
more accepted, even consumers who aren’t interested in the
substance itself are sometimes willing to try ancillary
products.
Harvesting Hemp
For centuries, hemp was grown as a source of fiber. A plant
related to marijuana but without its psychoactive properties, hemp
is now seeing a revival, thanks to legal changes in both Canada and
the United States.
In a joint venture with Global Hemp Group, Inc., MCOA has set up
two separate hemp production projects — one in Oregon and the other in New
Brunswick.
The purposes of these projects include increasing understanding
of hemp, developing better cultivation methods, and creating
improved strains. Staff at both sites are carrying out research,
with support from the local government at the Canadian site. This
work covers a range of issues important to hemp cultivation,
including pest control and improving soil quality. Drones are used
to oversee progress in New Brunswick, giving the company a good
overview of how crops are progressing.
By gathering data on plants and cultivation methods, MCOA and
Global Hemp are giving themselves an important advantage in a
growing industry. Hemp fibers can be used to produce cloth and
rope, adapting a historically popular use to the modern world.
Perhaps more valuable financially, CBD oil can be extracted from
the plants, providing biomass for the market. Growing strains with
rich CBD content is an important part of the work at the Oregon
site, work that could give the companies an edge over their
competitors in the strains they grow.
The work on these sites is providing plenty of practical
insights and experience, sometimes in unexpected ways. A bean harvester was recently used to harvest crops in New
Brunswick, maximizing profits despite higher than normal weed
growth. Experts such as Anthony Rushford, who has brought 20 years
of experience in hemp breeding and genetics to the Oregon project —
have also been recruited to provide insight on relevant issues.
Support Services
The growth of the marijuana, hemp and CBD markets has led to a
need for support services. By expanding into these services, MCOA
is further strengthening its position.
The company’s significant
investment in MoneyTrac Technology represents a similar step
toward diversification. MoneyTrac is a pioneer in alternative
banking and electronic finance systems, using blockchain technology
to power an accessible payment service. This can be accessed
anywhere in the world and used by sellers to track their business
and ensure legal compliance, as well as to easily take electronic
payments.
As the industry grows, it will need technological solutions for
the challenges it faces, and MoneyTrac provides one of those
solutions. This technology has potential use beyond the cannabis
market as a payment system for other under-served businesses. Both
business practices and technology are changing as companies adapt
to the emerging commercial environment in the United States.
The Commercial Power of Marijuana
Derivatives
The growing acceptance of medical marijuana is providing impetus
for many businesses within the sector that are exploring the other
products these plants can provide.
Tilray, Inc. (NASDAQ: TLRY), a leading medical
marijuana company, sells cannabis flowers and extracts to patients
and medical providers on five continents. With a strong investment
in research and development, Tilray has been creating other
products derived from these plants, including a range of CBD oils.
As a result, it is one of the first
companies to sell CBD oil into the United Kingdom following a
high profile legal change that allowed British patients access to
these oils for the first time.
Canopy Growth Corporation (NYSE: CGC) is
already one of the leading marijuana companies working in Canada,
one with extensive deals to make use of that country’s growing
market. Canopy Growth has received a significant financial and
publicity boost thanks to a recently approved $4
billion investment from American drinks giant Constellation
Brands. This collaboration between the two companies is expected to
lead to CBD-infused drinks, another innovation within the
industry.
A company with 20 years’ experience developing cannabinoid
treatments, GW Pharmaceuticals Plc (NASDAQ: GWPH)
created the first prescription medicine derived from cannabis
plants to be approved by the U.S. Food and Drug Administration. GW
Pharma has been carrying out research on the use of CBD in tackling
rare and dangerous forms of childhood epilepsy, and recently
presented data on this work to the 13th Annual European Congress of
Epileptology. This research is creating greater support for the
safety and effectiveness of CBD in dealing with these diseases.
Research is widening the number of ways in which cannabis and
cannabis-derived products can be used. Cronos Group Inc.
(NASDAQ: CRON) recently announced a study to research the use of cannabis in tackling insomnia.
A diversity of products and uses is allowing marijuana companies
to grow in strength, providing support services, medicines,
research and rented cultivation facilities alongside their core
products of cannabis and CBD oils. It’s a path that can only
strengthen the industry.
For more information on Marijuana Company of America, visit
Marijuana
Company of America, Inc. (OTC: MCOA)
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