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Finally Cracking the Cannabis Consumer Code?

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A recent survey conducted by Pollara Strategic Insights, a Toronto-based polling company, reveals that approximately two-thirds of Canadian consumers now exclusively purchase cannabis from legal sources. This new data, released on the fifth anniversary of the end of cannabis prohibition in Canada, suggests that the regulated cannabis industry may have a more significant share of the overall market than previously assumed. This is advantageous for compliant businesses. This finding may surprise some industry executives who have occasionally attributed their challenges and losses in the legal market to the illicit market.

 

According to the Pollara data, 65% of survey respondents reported buying only legal cannabis, a seven-point increase since November 2022. In March 2021, a Pollara survey indicated that half of consumers exclusively purchased legally sourced marijuana. Notably, the figures from Pollara surpass those from Health Canada.

 

According to Health Canada’s annual survey, approximately half of consumers consistently purchased cannabis from legal sources last year, notably lower than Pollara’s findings. This percentage marks an increase from 43% in 2021 and 37% in 2020.

 

It is essential to grasp the rough percentage of sales occurring in the legal market as it is vital for gauging the revenue available to legal businesses. The Pollara survey revealed that individuals with experience in cannabis use, both before and after legalization, are more likely to report a reduction in consumption frequency compared to the period before legalization. This suggests that legalization may have decreased cannabis consumption among these individuals.

 

The Pollara survey involved 2,006 randomly selected adults and covered various aspects of the cannabis industry. Since the survey was conducted online, a specific margin of error was not assigned. However, surveys of this scale typically carry margins of around plus or minus 2.2%. The survey brought to light some potentially concerning trends.

 

The study revealed that 27% of Canadians indicated cannabis use within the last 12 months, a substantial rise from the 11% reported in 2017. (It’s worth noting that Health Canada’s data presents a significant difference, indicating that 22% of Canadians consumed cannabis in 2017, with an increase to 27% by 2022.)

Cannabis User Purchase Patterns

Dry bud remains the most commonly used format among individuals who have used cannabis in the past 12 months, followed closely by edibles. However, considering all formats used in the past 12 months, edibles have slightly surpassed dry bud in popularity regardless of frequency.

 

Of those who have used cannabis in the past 12 months, 82% report purchasing it legally, with two-thirds (65%) stating that they exclusively acquire legal products. This reflects a notable 7-point increase in legal purchases since November 2022 and a substantial 15-point increase since March 2021.

 

A smaller proportion (13%) report obtaining cannabis through illegal means, with 4% specifying that they exclusively buy illegal products, a trend similar to our November 2022 findings. About a quarter of respondents state that they do not personally purchase cannabis; 21% mention receiving it from others or cultivating it legally (6%).

 

Individuals who have used cannabis in the past 12 months still perceive legal cannabis prices as higher (36%) or on par with illegal prices (17%). However, the perception of higher prices remains significantly lower than observed between 2019 and 2021. Currently, four in ten respondents express uncertainty about cannabis prices.

Public Approval and Perceptions

The survey also revealed that many Canadians now support cannabis legalization. Five years after cannabis was legalized on October 18, 2018, the public’s acceptance of legalization remains high at 72%. Of this, 52% express explicit approval, 20% have mixed feelings, and 23% disapprove.

 

These approval levels have remained relatively constant since 2020. Public acceptance is determined by combining approval and ambivalence. The ambivalent group effectively provides implicit approval, generally holds more positive views about cannabis and its legalization, and tends to express approval when compelled to choose.

 

Following the legalization of cannabis, the prevalence of negative public perceptions is significantly lower than the negative expectations recorded before October 2018. Presently, attitudes regarding tax revenues, the economy, and Canada’s reputation are more positive than negative. However, concerns about the health effects on youth, adults, and children, and road safety are still viewed predominantly negatively. Overall, negative perceptions are considerably lower than the public anticipated before legalization.

 

Canada primarily legalized cannabis with a focus on public health considerations. Some findings from the survey could be of potential concern for the cannabis industry, particularly those related to public health.

 

A larger proportion of Canadians (38%) believe that cannabis legalization has had a negative impact on the overall health of youth. This is in comparison to the 15% who see it as having a positive impact. Approximately one-quarter feel that there has been no impact.

Additional survey results include:

  • The benefits perceived from the legalization of cannabis, particularly in terms of economic and tax revenues, far surpass the drawbacks by a ratio of at least 2 to 1.

  • Approximately 46% of respondents express concerns that road safety has deteriorated due to cannabis legalization, while 9% believe that roads have become safer. Additionally, 27% of respondents see no substantial impact on road safety.

 

The report highlights the differences in perceived impacts of cannabis legalization between the period before 2018 and the present. Before cannabis was legalized, roughly two-thirds of Canadians thought that more young people would start using it and use it more often because of legalization. However, according to the Pollara survey, fewer than half Canadians still think this way.

Conclusion

A recent Pollara survey reveals a significant shift in Canadian cannabis consumption patterns, with 65% of respondents now exclusively buying from legal sources, indicating a stronger legal market share than previously thought. This challenges claims of industry challenges due to the illicit market.

 

However, the survey also shows increased cannabis consumption, with concerns about high prices persisting among consumers. On the positive side, public support for cannabis legalization remains high, with 72% approval. While perceptions have improved in some areas, concerns about youth impact, health, and road safety persist. The survey offers insights for industry stakeholders and policymakers.

 

LEGAL VS. ILLICIT MARKET, READ ON…

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The Dangers and Effects of THC Vape in UK

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People in the UK increasingly realize that CBD vaping is quite safe. Even NHS recommends CBD vaping as one of the relatively safer ways to quit smoking. Vaping is not without any harm, but it is much safer than tobacco smoking. Even more, CBD vaping is associated with some good health effects. However, now people are realizing that THC vape pens could be an even more potent way of enjoying CBD’s health benefits.

What is THC Vape?

If readers noticed that in the introduction of this text, we talked about CBD, there is a reason for that. THC vaping is different from CBD vaping, but not entirely. It has much in common with it.

The hemp plant is rich in many cannabinoids. Two major cannabinoids are THC (Tetrahydrocannabinol) and CBD (Cannabidiol). It also has many minor cannabinoids in smaller amounts, like CBG, CBC, CBN, THCV and CBDV. CBD vape pens generally have all these compounds except THC.

However, THC vape differ in the way that they also contain small amounts of THC along with CBD, minor cannabinoids, and other beneficial organic compounds like terpenes for added flavour and enhanced vaping experience.

So, why do some of the vape pens have added THC in small amounts? After all, THC is known to be addictive and has mind-altering properties. Well, the explanation is simple: the secret is in the dosage. In smaller and legally permitted dosages, THC does not cause a high; it is safe and can have many health benefits.

When small amounts of THC are added to CBD, minor cannabinoids, and terpenes, it results in much more powerful health benefits. That is why some of the CBD-based clinically approved drugs also contain THC.

THC vape pens may also have some distinct benefits not experienced with CBD vape pens. This is due to “the entourage effect.” The entourage effect is a bit different from synergy. Synergy is like two-plus-two equal to five, meaning that using some compounds together results in a more potent effect, yet safety is not compromised. However, the entourage effect means combining two compounds may result in some unique health benefits not seen when those compounds are used in isolation. So, the entourage effect is more powerful and unique than synergy.

Therefore, using THC vape pens means some unique health benefits, although these vape pens contain THC in small amounts.

THC Vape: The Dangers

It is no secret that THC is the main compound responsible for all side effects of the cannabis plant. This substance is addictive and, at higher dosages, causes euphoria, has potent mind-altering properties, and may cause hallucinations.

However, there is one important thing to understand. All these effects of THC are seen at much higher dosages than those in legally produced THC vape pens.

Legally produced/sold vape pens in the UK, like those by CBDoilking, do not contain THC more than 0.2%. This is significantly lower than cannabis indica or marijuana, which may contain 25% or even more THC. So, there is no comparison between legal THC vape pens and marijuana. At these small dosages, THC does not cause euphoria or other side effects and has no addictive properties. It only has mild stress-relief properties at these dosages.

Secondly, THC vape pens sold by CBDoilking follow other important UK guidelines and legal requirements, which means that THC vape pens cannot contain more than 1 mg of THC. Hence, it is not just about low concentration but also about low amounts, thus ensuring its safety.

Safe and Potent THC vape pens

THC vape pens are for health-conscious individuals who would like to vape on a regular basis. It is safe and may have beneficial effects like reduced anxiety, improved mood, and enhanced sleep, and it may also help reduce pain sensation.

THC vape pen is even better than your regular CBD vape pen for quitting smoking. This is because it is better at reducing tobacco cravings.

CBDoilking sells one of the strongest THC vape pens in the market (75-80% CBD plus CBG along with THC in permitted amounts), and yet all pens sold on the platform follow strict legal guidelines. All the products undergo third-party testing and are proven to contain THC, CBD, and other minor cannabinoids within legally permitted and safe limits.

Another good thing about CBDoilking is that these excellent THC vape pens come in many flavours. These flavours are not due to some artificial substances but rather due to their content of terpenes. Terpenes are plant-based aromatic compounds with antioxidant and anti-inflammatory properties.

CBDoilking offers vapes that are based on science, combining different natural compounds in the right ratio. This is both about safety and potency. So, these products are really good for those looking for something better, potent, and yet safe.

The Bottom Line

CBD vape pens have been around for some time, and their safety is well-established. They are an excellent way to quit smoking and also enjoy CBD’s health effects. However, some people are looking for something more potent. THC vape pens are good for such individuals. These contain all beneficial compounds present in the cannabis plant but in the right proportions.

THC vape pen is a new way to enjoy vaping. It is unlikely to cause any side effects as these products are made for regular use. Of course, one should not overdose on THC or CBD. It is important not to have more than a few puffs a day. Rare side effects like nausea or stomach issues might occur but are transient and short-lived. Such issues are rarely the cause of concern, except in a very small number of cases.

Thus, if you are looking for something better to reduce stress and overcome pain and anxiety, then a THC vape pen may be the right choice. Choosing something strong like the one offered by CBDoilking may be a good idea. Despite being strong, these vape pens contain THC only in legally permitted amounts and in concentrations proven to be safe and not cause euphoria.

To sum up, if you are already an experienced CBD vaper, it may be a good idea to give THC vaping a try.

 

CBD VAPE OIL SAFETY, READ ON…

BENEFITS OF CBD VAPE OIL

3 BIG BENEFITS OF CBD VAPE OIL CARTS, WHY DO THEY WORK?



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How to Buy or Sell a Cannabis Business: The Webinar Replay

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For anyone who wasn’t able to join us on April 17th, the video replay of our webinar titled “How to Buy or Sell a Cannabis Business” is now available on our website. You can view it here.

The description of this webinar is also included directly below. Enjoy!

____

On Wednesday, April 17, 2024 at 12:00 pacific time, Harris Sliwoski managing partner Vince Sliwoski (Portland), Harris Sliwoski partner Griffen Thorne (Los Angeles), and Andy Shelley of CannXperts will present a free webinar entitled “How to Buy or Sell a Cannabis Business.”

Drawing on their extensive experience from representing businesses and entrepreneurs across numerous M&A transactions, including crucial state license transfers throughout the United States, our panelists will share insights and practical wisdom from their firsthand experiences in the legal cannabis industry.

  • Crafting and understanding Letters of Intent
  • Conducting thorough Due Diligence
  • Drafting and Negotiating purchase agreements and ancillary documents
  • Navigating State-Specific Regulatory Concerns
  • Managing Escrow Challenges
  • Optimizing Financial Arrangements: Purchase Prices, Holdbacks, Earnouts
  • Tackling Post-Closing Considerations

As always, we’ll also take Q&A, so please feel free to either submit questions when registering or you will be able to ask comments in chat during the webinar.



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Is Thailand about to Change Their Cannabis Laws Yet Again?

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Thailand To Change Weed Laws Soon?

It’s Still Weed Paradise Right Now, So Go If You Can

 

Sure, weed is already legal in most of the United States.

 

However, for people who are in need of a holiday and want nothing to do but relax on a tropical Asian beach while enjoying a joint, the best place is still Thailand. Or at least, for now. Last June 2022, Thailand became the first nation in Asia to legalize marijuana for recreational purposes, albeit due to some governmental loopholes that allowed adult-use dispensaries to pop up like weed around the country.

Just a few days after weed was legalized, budding (pun intended!) entrepreneurs put up all kinds of weed shops and dispensaries. The smell of marijuana was soon prevalent all over, whether you were walking down a street in Bangkok or sunbathing in Phuket. These days, weed shops are as common as ATM machines or bubble tea kiosks.

 

We aren’t sure how long this is going to last. Over the last 1.5 years, throngs of tourists have come from all over the world to enjoy the globe’s newest weed haven. And while many cannabis businesses and farmers are thriving economically from the weed boom, some government officials are against it. As of the time of writing, the Thai government is working on regulating the cannabis industry much more tightly, so much so that smoking weed may not be such a liberal act to enjoy anymore.

Could Thailand’s weed heydays be this short-lived?

According to the news, Thailand’s health minister is set to ban recreational marijuana use completely by year end. A new bill is forecast to be discussed to parliament before session ends in October. Anutin Charnivakul, the public health minister responsible for initially proposing cannabis legalization, didn’t intend for weed to be as widely sold and consumed as it was. Instead, he explained that he merely intended for it to be used medicinally, helping farmers and other industries earn from the economic benefits of cannabis legalization.

“We have always emphasized using cannabis extractions and raw materials for medicinal purposes and for health,” he disclosed to CNN back in July 2022. “There has never once been a moment that we would think about advocating people to use cannabis in terms of recreation – or use it in a way that it could irritate others,” he added.

 

They likely did not anticipate or foresee that the tourism sector would experience a massive boom due to the said loopholes in cannabis law. Nobody knew that thousands of tourists would be coming from all over to enjoy partaking, and, helping to boost the tourist economy which was much-needed after the pandemic.

 

In a Reuters interview with Public Health Minister Dr. Cholnan Srikaew, he says that marijuana will only be permitted for medical use. Recreational users and cannabis growers who do not have a permit can expect to be charged with heavy fines, if the new bill is passed. “Under the new law, cannabis will be a controlled plant, so growing it would require permission. We will support cannabis cultivation for the medical and health industry,” he told Reuters.

 

The fines they are discussing are certainly steep: in the draft bill, it states that penalties of up to $1,690 can be charged to recreational users. Meanwhile, individuals who are caught selling weed or advertising its use can face a file of as much as $2,770, jail time, or even both.

 

The news to change Thailand’s once-ideal regulations regarding cannabis use was announced a few months ago, leaving businesses and other industries that are reliant on it, afraid and unable to make any plans for the future.

 

Can Tourists Still Smoke Weed In Thailand?

Until the government announces final changes to the weed law, tourists are still welcome to smoke weed and partake of recreational marijuana in various forms throughout the country. I just came from spending a few days in Bangkok, the nation’s capital, where hundreds of weed shops are still flourishing throughout the massive city.

 

Dispensaries are designed in fun, colorful interiors using bright colors and world-class marketing to attract smokers and consumers. We’ve walked into several different kinds of dispensaries and had no problems buying flower, edibles, vapes, and a variety of paraphernalia to consume either in the dispensary or in our hotel room. However, you do have to keep in mind that there are still rules in place.

 

For one, vaping or smoking weed in public places is still prohibited. Don’t be tempted to light up on the streets even if you can smell weed, because getting caught by the cops can lead to a $700 fine. That said, there are certain areas in Thailand where the law is a bit more – uh, relaxed. For example, in the backpacker central of Khao San Road, it’s not uncommon to see tourists lighting up at night. In the tourist beach areas of Krabi and Samui, there have been reports of tourists being able to easily light up a joint on the street with no problem.

 

Again, there’s no timeline of how long this is going to last. So if you can go to Thailand before the year end, when the new laws are expected to be set in place, go!

 

THAILAND AND LEGAL CANNABIS, READ ON..

CANNABIS CHANGES IN THAILAND

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