Australia

Australia is Getting Over-the-Counter CBD in 2021…But Not Much

Australia is now officially allowing for medical cannabis to be purchased from a pharmacy without even getting a prescription. However, it won’t happen right away, as there are currently no approved products available, and some would have liked to see more from this law.  According to the Therapeutic Goods Administration, who pushed this through, not only will there be a wait before cannabis is available, the only product that will legally be sold is CBD oil with trace amounts—specifically 1 percent—of CBD.  As of February 1 of 2021, CBD oil will be available for sale—that is if there is any […]

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CBD oil products biz taps MST Financial for raising – The Australian Financial Review

CBD hemp oil products maker Elixinol Global landed in front of small cap fund managers on Friday morning, seeking an equity injection. ASX-listed Elixinol Global was raising capital on Friday. Jim Rice The company was on the hunt for about $10 million through an $8.1 million institutional placement and a $2 million share purchase plan. The offer was priced at 17¢ a share, which represented an 8.1 per cent discount to Elixinol’s last close and a 14 per cent discount to the 30-day VWAP, according to terms sent to funds. MST Financial was handling the raising, and was calling for bids […]

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Neurologist and Research Pioneer in Cannabis and Psychopharmacology, Dr. Ethan Russo, Endorses Industry Leader True Terpenes – Yahoo Finance Australia

Dr. Ethan Russo, a scientific luminary in cannabis research, has officially endorsed True Terpenes based on the company’s excellence in terpene innovation. Dr. Russo’s research on the entourage effect, where the benefits of medical cannabis can be enhanced when combined with terpenes, is the backbone of the terpenes industry. His support speaks to True Terpenes’ high-quality products, rigorous testing standards and influence in cannabis. PORTLAND, Ore., Nov. 11, 2020 /PRNewswire-PRWeb/ — Dr. Ethan Russo, a scientific luminary in cannabis research, has officially endorsed True Terpenes based on the company’s excellence in terpene innovation. Dr. Russo’s research on the entourage effect, […]

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Australian Authorities Urged to Allow Vape Sales in Shops Already Selling Cigarettes – Vaping Post

A recent proposal put forward by the Australian government to the Therapeutic Goods Administration, asked to consider allowing the sales of smoke-free nicotine products only in pharmacies. NRA CEO, Dominique Lamb, had spoken up saying that this would be the ‘worst of both worlds’ for convenience shops as it would create a monopoly, to the detriment of the small retailers who are heavily reliant on tobacco sales. NRA CEO, Dominique Lamb, said that sadly, local authorities seem to support Big Pharma and foreign retailers, but not local small businesses Lamb has recently added that the policy situation is getting weirder […]

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Australian health fund becomes the first to offer rebates for medicinal cannabis – 9News

One of Australia’s biggest health funds has become the first to publicly back medicinal cannabis as a treatment for a range of deliberating illnesses. Private health insurer Health Insurance Fund of Australia (HIF) has announced a partnership with West Australian-based medicinal cannabis manufacturer Little Green Pharma (LGP). Under the deal the health fund will pay rebates for medicinal cannabis across all but one of its Extras policies with eligible members receiving up to $105 back per script, a first for the health fund sector. Private health insurer Health Insurance Fund of Australia has announced a partnership with West Australian-based medicinal […]

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How to Avoid Bankruptcy With Your CBD Business In Australia – Green Market Report

Editors Note: This is a guest post. A Burgeoning Economic Motivator Cannabidiol (CBD) is the non-psychoactive compound with healing properties often touted by pro-cannabis lobbyists as a health supplement. In a nutshell, CBD connects to nervous system components in the human body. Ultimately, it ends up reducing inflammation and has anti-carcinogenic effects. While the extent of these effects isn’t yet known, something is there. Many high-level medical professionals preach the benefits of CBD used as a supplement for those suffering from a variety of maladies. For athletic recuperation and general peace of mind, there is also much to recommend this compound. […]

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Australian Billionaires Back Medical Cannabis Producer – DOPE Magazine – DOPE Magazine

Medical cannabis production in Australia is hinging upon generous grants and donations from some of the nation’s most wealthy. Billionaire families in Australia, including the Libermans, Smorgons and Waislitzs, are financially supporting an early stage producer of medical cannabis for clinical trials. “If the three big [families] get involved, others will follow, but we are certainly casting the net wider because we don’t want to leave this to chance,” CannaPacific chairman Peter Gunning told Financial Review. “There is a lot of money sitting on the sidelines still. There is so much uncertainty right now.” Melbourne-based Liberman family has been a […]

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Australia arrests 14 Vietnamese in historic cannabis bust – VnExpress International

By Phan Anh  &nbspOctober 26, 2020 | 04:04 pm GMT+7 Several Vietnamese men are arrested by police of New South Wales, Australia, in a cannabis seizure operation in October, 2020. Photo courtesy of the New South Wales police. 14 Vietnamese men in Australia were arrested in a cannabis bust worth over AUD40 million ($28.5 million), one of the largest such cases in the country’s history. Detectives of New South Wales (NSW) Police Force seized 13,353 cannabis plants and around 17.69 kg of dried cannabis, worth at least AUD16.9 million ($12 million), after searching several properties in Minimbah, Melinga and Moorland […]

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