Good morning. Welcome to The Greenfields. Your twice weekly newsletter that tells you everything you need to know about the cannabis business.

What’ve we got for you today?

• Did Aspen sell Emyria investors a toothpick? 🤷

• Germany's slow growth could hurt Aussies 🇩🇪

• Photos of People Surrounded by Cannabis 📸

• Green Farmers growing grow capacity 🌱

Did Aspen sell Emyria investors a toothpick?

Emyria (ASX:EMD) and Aspen have done a deal to commercialise Emyria's EMD-RX5 anxiety and sleep treatment in Australia (and maybe New Zealand).

Emyria will get a 10% royalty on net sales and payments of $400k for reaching key milestones. In exchange Aspen will fund the commercialisation, registration and development of EMD-RX5.

Emyria shares are down 12% since the announcement, so we can only assume investors must think Aspen has sold Emyria a toothpick.

10% doesn't sound like a lot. Actually it sounds pretty shit. But when you consider Avecho are raising $11 million dollars to fund a similar study, it might not be such a bad deal.

15% of the population suffers from mild anxiety and stress. So an over the counter treatment is almost guaranteed to make decent money.

That's not to say there aren't risks here, registering an over-the-counter low-CBD seems to be almost impossible.

Not a single one has passed trials.

It seems like a good move on Emyria's behalf to get Aspen to take on these risks, as well as all the work and expense of commercialising EMD-RX5.

Photos of People (or Cats) Surrounded by Cannabis

This weeks Photos of People (or cats) Surrounded by Cannabis comes to us courtesy of Farmer Tom Lauerman. Farmer Tom is an organic cannabis grower in Vancouver, WA.

He's like a real life weed Santa. Good for you Farmer Tom.

If you'd like to see your photo in Photos of People (or cats) Surrounded by Cannabis share it with us on Twitter, Facebook, LinkedIn or Instagram.

Like The Greenfields?

Send this email to a friend to make sure they don't fall behind in the cannabis business.

Are you the friend? Click the button to subscribe for free:

Germany's slow growth could hurt Aussies

Germany has imported a record 25,000kg of cannabis in 2022. That's up 19% from 2021's peak of 20,769kg's.

Now that would be great news except the growth of imports to Germany is actually slowing. Import growth in 2021 was actually 77% over 2020.

And it isn't just the imports that are slowing. The growth of reimbursements for medicinal cannabis in Germany has slowed to 1%. So some of those imports are also being stockpiled or sent somewhere else in Europe.

This could become a problem for Australian exporters to Germany. Little Green Pharma, ANTG, Cannim, Cann Group, and Althea all have significant export deals with Germany.

Legalisation of recreational use in Germany could offer a reprieve, but that's not expected to start until 2024.

Dr. Lenny's Lab

Got a question about cannabis you'd like answered by an actual scientist?

Dr. Lenny is a plant and brain scientist that can answer your questions about cannabis, plants, brains, research, medicine, and biology.

Reply to this email with your questions and the best one will get an answer in an upcoming newsletter.

Green Farmers growing grow capacity

Green Farmers parent company Biortica Agrimed (formerly Cannabis Harvesting Investments) has bought a new growing facility in Byron Bay capable of producing 12,500kg of cannabis.

The facility adds to their existing growing capacity of 5,000kgs in Victoria. Production is expected to start in a few months time.

Tell us what you really think

That’s your walk through The Greenfields of the cannabis industry today. We hope you've enjoyed it.

We’ll see you again on Tuesday, but if you want more follow us on Twitter, Facebook, or LinkedIn.

DISCLAIMER: This newsletter is not financial advice. It is strictly educational and is not investment advice or a solicitation to buy or sell anything or to make any financial decisions. It's mostly just jokes and memes to be perfectly honest with you. Please do your own research and do not do anything dodgy.