🌿 Greens Cannabis Legalisation Critcism

Good morning. Welcome to The Greenfields. We are your twice weekly guide to the cannabis business.

What've we got for you today?

• Greens cannabis plan criticism

• CBD Hope for Spinal Injury Pain

• Creso pharma's record revenue

• Photos of people surrounded by Cannabis

• Conservative men say dumb shit about cannabis on TV Actually, not going to bother with that one

• Yet Another Sleep Study

Greens Cannabis Plan Criticism

Not everyone is pleased about the Greens Cannabis plan, even people who are supportive of cannabis legalisation.

The biggest issues are:

• The argument is focused on the revenue generated, not health and the harm done by criminalisation

• The high excise of 15-25% on top of GST

Focus on Tax Revenue

$28 Billion is a big sexy number. The Greens announcement was focused on this big number because it sells. It grabs attention and it gets Greens MPs on breakfast news.

But there have been a lot of people unfairly impacted by the war on drugs. The police and courts have been ruining peoples lives for cannabis possession, and we've denied a lot of people medicine that might've helped them.

Thankfully there were plenty of nice people on twitter who were ready to point this out to The Greens.

Let's hope that The Greens listen and their campaign isn't entirely focused on the money. Because...

High (😉) Taxes

The proposal revolves around a new cannabis agency and very high taxes. How else are you going to get that big sexy number?

The 15-25% excise on top of the absurd $13.40 per gram before tax wholesale price are going to make recreational cannabis extraordinarily expensive.

A quarter ounce would cost $120

You aren't going to eliminate the "legacy market" (this is what us cultured folk call the illegal market) at those prices.

It's worth keeping in mind that some of these proposals from the Greens are going to be watered down or horse traded away to get the bill passed.

It might look funny to see people who are supportive of cannabis legalisation criticise a serious effort to make it happen, but it's important people speak up to ensure these concerns are addressed.

Photos of People Surrounded by Cannabis

It's time for our weekly segment, Photos of People Surrounded by Cannabis. This week we have twitter user @VictoriaEsc3 surrounded by cannabis (yes we know it's a video and not a photo but it's been a busy week):

Good for you victoria.

Photos of People Surrounded by Cannabis will be back next Thursday. Hit us up on Twitter, Facebook or reply to this email if you want to be in the illustrious Photos of People Surrounded by Cannabis.

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Creso Pharma's Record Revenue

Creso Pharma (ASX:CPH) has reported their 2022 financial year revenue was $9m. This represents a 44% increase on the 2021 financial year.

Creso attributed the increased revenue to acquisition. They also reported a 32% drop in cash burn from operations. They are continuing to acquire new companies and claim to be aggressively pursuing profitability.

Yet Another Sleep Study (YASS)

Ecofibre (ASX:EOF) have announced in an exclusive to Cannabiz that they are going to have another crack at a sleep study for their (so far) unsuccessful low-CBD sleep treatment.

The trial involves giving another group the placebo and Ecofibre's product at the same time. We are reliably told this isn't typically done, but figure that scientists are not really paid very well in this country so why not let Ecofibre throw a bit of money at them eh? 🤷‍♂️

Let's hope there's a cannabis treatment for deja vu.

CBD Hope for Spinal Injury Pain

Sydney University has been awarded $1.7m to perform a trial on the effectiveness of CBD to treat neuropathic pain. That's pain that is caused by a damaged nervous system. People with neuropathic pain experience burning, numbing or pins and needles and some say it's the most debilitating part of their injury.

The study will run for 12 weeks and participants will get to try both the CBD and the placebo. Success of the trial will be determined from brain scans, questionnaires, blood tests, and sleep tracking devices.

CBD has been found to be effective for this type of pain in trials done on mice. Given that existing treatments for neuropathic pain can have severe side-effects, we have our fingers crossed for this trial.

That’s your walk through The Greenfields of the cannabis industry today. We’ll see you again next Tuesday, but if you want more before then follow us on Twitter or Facebook.

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. Please do your own research and do not do anything dodgy.