UNITED NATIONS VOTES TO REMOVE CANNABIS FROM SCHEDULE IV PROHIBITION | TRICHOMES Morning Buzz
Cannabis News Update December 3, 2020
Today in the world of cannabis: Curio Wellness launches a minority business ownership program, HEXO Corp. shifts a product line to focus on flower with higher THC levels, and the United Nations approves a historic vote to remove cannabis from the “prohibition schedule.”
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** D: First up: In a report by Business Wire, the medical cannabis company Curio Wellness has announced the launch of an investment fund to promote minority business owners to open Curio Wellness franchise locations.
According to a press release, $30 million in capital will be provided to 50 women, minority, and disabled veteran entrepreneurs with up to 93% of needed capital to open a Curio franchise in one of any eight states in the U.S.
“In looking at the systemic barriers that women, minorities and disabled veterans face in accessing capital, we decided to develop a solution that directly addresses this massive economic disparity,” said Michael Bronfein, CEO. “The Fund provides qualifying entrepreneurs with the investment capital they need to become a Curio Wellness Center franchisee, while ensuring their success through our best in class business operations.”
** R: And next: Globe Newswire reports that the cannabis company HEXO Corp. has announced that its UP Cannabis brand has shifted to providing products strictly with 20% THC or higher in all of its flower products.
“Canadian cannabis consumers have been clear with their demands since legalization and, until now, the entire industry has struggled to give consumers what they are looking for. We know that they want consistently superb quality and high THC at a competitive price,” said HEXO CEO and co-founder Sebastien St-Louis. “We’ve listened and have adapted systems and processes to offer just that.”
“HEXO is in a strong financial position and is committed to growing sales nationally as we continue to increase market share. UP is already driving sales and delighting consumers across Canada with the high THC potency they want,” added St-Louis. “Until now, cannabis consumers have had to hold flower products in their hands to check that the potency matched their expectations. UP is removing that friction by delivering 20% THC or higher every time, right on the label.”
** D: Last up: In a report by FAAAT, following a historic series of cannabis reform votes, the United Nations has withdrawn cannabis from the “prohibition” Schedule IV of the 1961 Single Convention. The vote follows 3 years of scientific review by the World Health Organization and 2 years of discussion within the UN.
According to a press release, the UN has “recognized the therapeutic value of this century-old medicinal plant and no longer considers it as ‘particularly liable to abuse and to produce ill effects.’”
In addition to the declassification of cannabis, “WHO proposed an ambitious plan to harmonize and embed flexibility into the treaty framework for the access and availability of cannabis medicines.”
Changes to international law will officially take place after each government agency receives notification from the UN Secretary-General.
https://faaat.net/do-tank-en/press-release-united-nations-recognize-medical-cannabis-december-2020/
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