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Hemp Today Says Tikun Australia Creditors To Meet Monday Coming & Rumours Abound Re Tikun Israel Boss Having Underworld Connections

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Creditors are scheduled to meet next Monday to discuss the fate of medical cannabis producer Tikun Australia after the struggling company went under control of an administrator July 13.

Australia’s first company to receive a license to grow medical cannabis, in 2019, Tikkun (then known as Medifarm) said at the time it was producing 1.2 tons of cannabis per year, and announced aggressive plans to ramp up to seven tons annually as it opened a new facility in Queensland.

The company produces THC- and CBD-containing products.

Israeli partners

Precursor Medifarm was founded in 2015 in partnership with the Israeli-based pioneering cannabis company Tikun Olam, undergoing the name change to Tikun Australia in 2020.

Tikun Australia named pharmaceutical exec Katy Williams Day CEO in January 2021. Medifarm founder Adam Benjamin left the company in December of last year.

Turnaround and restructuring advisers Cor Cordis, Melbourne, were named to administration.

Tikun Olam’s Israel operations were sold for $41.5 million to publicly traded Cannbit, Haifa, in November 2019 after the company failed to have its growing license renewed amid rumored drug use by founder Tzachi Cohen, who was also suspected of having underworld ties.

See Times of Israel 2019 report

https://www.timesofisrael.com/israel-cannabis-operations-of-tikun-olam-reportedly-up-for-sale/

Creditors to meet next week over fate of troubled Australian company



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Australia & Asia Pacific

Australia – NSW Police Press Release: Police seize more than $80-million cannabis plants near Parkes

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Friday, 05 August 2022 03:50:16 PM

Police have seized more than $80-million worth of cannabis plants following a five-month investigation into cannabis cultivation near Parkes.

In March 2022, detectives attached to Central West Police District commenced Strike Force Burria to investigate commercial cannabis cultivation in the state’s west.

Following extensive inquiries, strike force investigators attended a rural property at Trundle – about 53km north-west of Parkes – on Wednesday (3 August 2022).

Upon police arrival, several people fled the property into nearby bushland, officers were unable to locate them.

Officers then applied for and were granted a crime scene warrant, which was held overnight.

The following day (Thursday 4 August 2022), strike force investigators and specialist forensic police attended and located a number of large greenhouses being used for cannabis cultivation.

Police located and seized 27,484 cannabis plants, which have all been destroyed.

It’s estimated the potential street value of the cannabis was more than $80 million.

Investigations under Strike Force Burria are ongoing to identify those involved.

 



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Australia & Asia Pacific

Creso Pharma Limited (ASX: CPH) (the ‘Company’) requests to extend the current voluntary suspension in place on its securities.

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Here’s their letter to the ASX

Creso Suspension pending Cap Raise




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Australia & Asia Pacific

Vice Article Says Even Conservative Australia Has Had Enough Of Cannabis Criminalization

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Interesting article that uses Qld’s seat of Dickson  as an example of the sea-change in attitude toward cannabis use in formally conservative parts of Australia.

Dickson is currently held by the leader of the opposition, arch – conservative and ex police sgt, Peter Dutton

Yet…….

The survey’s results suggest a community sentiment at odds with the law and order fanfare sold to the nation in parliament. 

There, those who think cannabis should be legalised make up 40 percent of those surveyed in the electorate, nearly double the cohort who felt that way in 2010. 

Criminalisation of cannabis possession in Dickson is steadily losing support, too. Only 18 percent of those surveyed there said they supported criminalisation, down from the 35 percent who did nearly a decade earlier.

What’s more: Nearly two thirds of those asked said they’d prefer police take no action at all—at most, though, a warning would suffice. 

 

 

 

Vice write

The legalisation of cannabis was once an issue condemned to the wings of radical progressive politics. As conservative leaders continue to rail against its legalisation, sentiment among the broader Australian population is shifting—markedly. Now, even the most conservative pockets of regional Australia are warming to the idea.

Earlier this month, the government’s Australian Institute of Health and Welfare released new data that showed attitudes towards cannabis legalisation have shifted exponentially over the last decade, with 78 percent of Australians surveyed in support of the decriminalisation of cannabis possession.

The data, which compared community sentiment toward cannabis, tobacco, alcohol and other illicit substances between 2010 and 2019, emerged as part of the results of the National Drug Strategy Household Survey, which is conducted every three years.

The results published this year paint a striking portrait of Australia’s changing perceptions of cannabis—and other illicit substances. Most striking of all, perhaps, is how those attitudes have started to shift throughout some of the nation’s most conservative regions.

In the Queensland seat of Dickson, for instance, which is currently held by opposition leader Peter Dutton, the survey’s results suggest a community sentiment at odds with the law and order fanfare sold to the nation in parliament.

There, those who think cannabis should be legalised make up 40 percent of those surveyed in the electorate, nearly double the cohort who felt that way in 2010.

Criminalisation of cannabis possession in Dickson is steadily losing support, too. Only 18 percent of those surveyed there said they supported criminalisation, down from the 35 percent who did nearly a decade earlier.

What’s more: Nearly two thirds of those asked said they’d prefer police take no action at all—at most, though, a warning would suffice.

In National Party strongholds across New South Wales and in Queensland, the prevailing feelings among voters share a similar throughline.

In the NSW seat of New England, which covers Dubbo and Broken Hill and is held by former Nationals leader Barnaby Joyce, support for cannabis legalisation has more than doubled over the last decade.

As with Dickson, a shrinking set of Joyce’s constituents think cannabis possession should be a criminal offence, while a firm majority of 51 percent agree that police should only issue a warning to those caught with the drug.

In the Queensland seat of Maranoa, held by Joyce’s National Party leader successor David Littleproud, the same is true again. There, as many as 44 percent of those surveyed threw their support behind legalising cannabis, up from the 20 percent who did so in 2010.

A smattering of other conservative electorates have seen outsized movement on the issue as well, even if only at an incremental pace. One of them is the seat of Hume—held by shadow treasurer Angus Taylor—where less than a third are in favour of the criminalisation of cannabis possession, and more than a third think it should be fully legalised.

In response to the survey’s findings, Aboriginal Drug and Alcohol Council CEO, Professor Scott Wilson, said progressive legislative movement on the issue seen overseas could be impacting the way Australians perceive the consumption and regulation of drugs.

Read the full article

https://www.vice.com/en/article/wxnnew/some-of-the-most-conservative-corners-of-regional-australia-support-legalising-cannabis



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