In a stunning announcement, the Justice Department has said they will expand the number of cannabis growers for federally-authorized research. For years, the DOJ and DEA have locked down cannabis research to essentially one grower: the University of Mississippi. It did not matter much as most requests for cannabis were declined. The Justice Department has pivoted away from this.
Uttam Dhillon, the acting administrator of the Drug Enforcement Administration, says Monday's move would give researchers a wider variety of cannabis to study. He says the DEA supports additional marijuana research. The DEA says the number of people registered to conduct research with marijuana and extracts has jumped more than 40 percent in the last two years.
This shifting federal policy on cannabis highlights how the landscape and sentiment has shifted on cannabis. Demand for research is growing as products are multiplying and demand is high. Bougainville Ventures (CSE:BOG) is a CBD and cannabis solution company moving aggressively to meet demand. The company has recently acquired 39% of Thrive Wellness and its assets. Plus, the company is working on a CBD beverage for athletes and others looking for an energy boost. This is a growing category as more and more sports stars enter the space like former NFL stars Terrel Davis and Calvin Johnson and even tennis star John Isner recently endorsed a CBD brand.
BOG is also working in the cannabis turnkey space – another area of great need as it saves cost for those looking to enter this growing sector – through their facility in Oroville, Washington. The company recently installed a grower in a 10,000 square-foot space, which will cut down on costs significantly as lighting, temperature and air system represent significant upfront costs for those looking to enter the cannabis cultivation space.
MN1 Reports
Tags: #Federal Policy on Cannabis #federal cannabis Policy #cannabis #cbd #justicedepartment #dea #cannabisresearch #marijuana #market news
Comments
Post a Comment