Marijuana Weekly Roundup: Is Cannabis Delivery The Next Big Thing?


Spencer Schredder

June 18th, 2014

Top News


Colorado Approved The Largest State Funded MJ Resarch Grant Ever

A new grant system in Colorado is handing out up to $9 million in funding for medical marijuana research. This will be the largest state funded research product on the plant, and Dr. Larry Wolk, executive director and chief medical officer of the Colorado Health Department, wants to “make sure that what’s happening out there in everyday practice isn’t harming people.”

The research will focus on the effects medical marijuana has on med-card qualifying conditions.”Our intent is to be rigorous scientifically,” Wolk said, “but to also act with some expediency because these are products that a large percentage of our population is using today.”

Marijuana Will Fly Off The Shelves In Washington This Summer

Washington’s recreational legalization of marijuana became official on June 1st, but no retail marijuana has been sold yet. When the product does hit the shelves in early July, however, don’t expect it to last long.

Related: So-Called Marijuana Stock VPCO Up-Lists Onto Major Exchange

Attila Soos, owner of one of the largest licensed grow operations (Verdavanti), said that  “there’s just no way it’s not going to sell out. We’ll have product for retailers as long as they are licensed. We expect things to start rolling out July 1st, but it is safe to assume that not all retailers will receive their license July 1st, so you’ll likely see our products being rolled out in weekly phases across the state.” Soos also noted that “there is no real feasible way to meet the demand at this point.”

Delivery Weed?

Students from the University of Washington presented Canary to the crowd at TechCrunch Disrupt in Seattle last Thursday night, winning the event’s audience choice winner.

Canary is a location-based services app that will connect marijuana users with dispensaries — that will then deliver cannabis to the consumers house.

Business Insider referred to the service as the “Uber for Marijuana Delivery” and, similar to Uber, the company might face a few legal roadbumps. The app is yet to launch, because the founders want to be sure it will operate as a legal middleman for consumers and registered dispensaries before it downloads.

Top GOP Donor Contributes To A Seemingly Losing Cause in Florida

The CEO of Las Vegas Sands Corp (NYSE: LVS), Sheldon Adelson, contributed $2.5 million to the Drug Free Florida Committee — to help fight an upcoming ballot initiative that would legalize medical marijuana in the state of Florida. The reform group that is pushing for the Amendment 2, United for Care, has over $4 million in backing, as well as 90 percent of Floridians in support of the amendment.

Adelson is on the the Republican Party’s largest donors, throwing over $150 million behind various (many losing) GOP candidates in 2012.

Drugged Driving Deaths Have Tripled in The Last Decade

Columbia University Researchers performed toxicology exams on the victims of almost 24,000 driving fatalities, and marijuana was reportedly involved in 12 percent of all traffic deaths. The figure is triple the statistic of a decade earlier. Drugged driving is somewhat more  common among teen drivers, with one in eight high school seniors admitting to driving after smoking marijuana in 2010.

These topics and much more will be discussed at the upcoming WeedStock Conference.

Tickets for WeedStock are very limited– investors in the cannabis industry should register as soon as possible. Benzinga readers can get $249 off a three-day pass with coupon code “CANNFN”.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Spencer Schredder

About Spencer Schredder

Mr. Shredder has over a decade of experience in the financial markets as both a private investor and financial journalist.


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