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LGP repays loan to Canopy Growth after A$5m capital raise

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Via Cannabiz ..

We wonder if this deal also has something to do with them withdrawing from the French Govt sanctioned CBD trial where they were, it appears, prociding “medical grade” CBD at less than cost.

We will let you decide

Little Green Pharma Pulls Out Of French Govt CBD Trial

 

Cannabiz say of the latest financial setup

Little Green Pharma (LGP) has removed a loan to Canopy Growth from its balance sheet after raising A$5 million via a placement from new and existing shareholders.

The funds will repay the balance of a loan note relating to LGP’s acquisition of a Danish medicinal cannabis facility from Canopy in 2021.

LGP said in its quarterly financial statement in January that it owed C$3.1m ($3.4m) plus interest to Canopy.

The balance of the funds raised in the placement will be used as working capital.

The raise saw 27 million shares issued at $0.18c per share, a 5.3% discount on the closing price on March 21.

LGP chief executive Fleta Solomon, who has committed $50,000 to the placement subject to shareholder approval, said the removal of the loan strengthens its balance sheet and “removes associated interest expenses”.

“In addition, the business will use the balance of the funding to continue delivering on its growth trajectory and focus on achieving cashflow break-even,” she said.

“We are confident the current business momentum will allow it to continue growing sales and leveraging domestic and international medicinal cannabis market opportunities.”

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LGP repays loan to Canopy Growth after A$5m capital raise



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Paper – Australia: NSW cannabis medicines advisory service retrospective enquiry analysis to inform clinical guidance resource development.

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An innovative New South Wales government funded statewide Cannabis Medicines Advisory Service (CMAS) operated between January 2018 and June 2022. The service provided comprehensive patient-specific and evidence-based information to support health professionals in prescribing and patient care decisions. This study aimed to describe real-world data collected by CMAS.

A sub-set of de-identified, patient-specific enquiries collected between January 2021 and June 2022 (n = 123/567; 21.7%) were analyzed using R version 4.2.1. Diagnosis, indication, and comorbidities were coded using Medical Dictionary for Regulatory Activities (MedDRA) terminology.

Most patient-specific enquiries from medical practitioners were from general practitioners (n = 103/123; 83.7%). Female (n = 53/123; 43.1%) and male (n = 59/123; 48.0%) patients were similarly represented. Sex was not specified for 8.9% (n = 11/123) of patients. The mean age of patients was 52.1 years (range <10-90). The most common three diagnoses were osteoarthritis, anxiety, and chronic pain. Indications that were most frequently reported included chronic pain, anxiety, back pain, non-neuropathic pain, and insomnia. Comedications were most commonly non-opioid and opioid analgesics and antidepressants. Most practitioners were considering prescribing a cannabidiol (CBD) product for their patient. Cannabinoid composition selection guidance provided by CMAS was predominantly (delta-9-tetrahydrocannabinol) THC:CBD ~1:1, followed by CBD-only products. CMAS was contacted by health professionals regarding the management of potential adverse events for five patients.

The findings of this study shed light on the information medical practitioners were seeking to inform their clinical decision-making about medical cannabis and can inform the development of clinical guidance resources.

© 2024 The Author(s). Neuropsychopharmacology Reports published by John Wiley & Sons Australia, Ltd on behalf of The Japanese Society of Neuropsychopharmacology.



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Australia’s Zenith Cannabis Clinic Throws Up More Question Marks.. It Appears They Are Providing Consults But Have No TGA Approval To Prescribe

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Hi I noticed you had a post about Zenith clinics I recently had a run in with them as I was seeking medication.

They are a scam they take your money which was $29 for the initial consult which they say they will return it’s just a pending holding fee for the consult.

A “so called doctor gives you a call on zoom they prescribe you”.

After two weeks nothing happened I called several times and got the same person with a south African accent they keep on telling me they are waiting for TGA approval this goes on and on they say it sometimes takes a long time.

I was fed up so I called ******* scripts got a free appointment the next day she prescribed me and the TGA approval only took 48hrs and I have the product now already.

I am yet to hear back from Zenith clinic. It’s not the money as it was only $29 but it’s the deception they must be doing this to a lot of people who really need medicine. I wanted to send this as people need to be warned so they are to right decision.



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SOMAI Boss Says Australian Medical Cannabis Programme Is World Beater

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Respectfully we’d disagree – this is what he told Cannabiz Australia

 

The Australian medical cannabis industry may have its challenges, but its focus on affordable access and patient care make it a role model for the rest of the world, says SOMAÍ Pharmaceuticals chairman and CEO Michael Sassano. 

The Australian market has become one of only three significant global medical cannabis markets in the world.

Although all eyes are on the US potentially rescheduling the substance after Germany removed the narcotics label from cannabis medicines, the Australian market continues to expand faster than most because of the focus on what is best for patients and their experience.

Australia leads in cannabis choice and pricing

Doctor and patient relationships and freedom of choice for both parties help to form the foundation of a solid medical cannabis market. When the focus is on limiting access instead, problems arise.

Michael Sassano

For example, Israel only permits flower sales and limits other products, such as extracts. Germany’s market focuses on the magistral preparation of extracts with a minimal framework for different form factors like gel capsules or faster-acting excipients.

As another example, seniors in the US are a growing market that may consume cannabis in low dosages for arthritis. Their preferred administrative and dosage choice is a mild 1:50 gel capsule or edible format. With flower-only restrictions, they would have to roll a joint or use a smoking pipe instead. Massive market segments are being excluded from access because they simply don’t want to smoke.

Australia is far beyond other larger markets regarding choice with patients having close to 1,000 medical cannabis product choices. Giving options to doctors and patients is precisely what the cannabis-as-medicine movement has always been about, not a one-size-fits-all therapy program.

The country has also embraced lower consumer pricing, making daily medicine more affordable and accessible. All favourable consumer markets give patients ample choice and affordable pricing, providing access to everyday necessities.

Read the full article

When it comes to access, the rest of the world should follow Australia’s example

 



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