Weedmaps Founders Propose Taking Company Private Amid Industry Challenges
Co-founders of Weedmaps, Doug Francis and Justin Hartfield, have agreed to take WM Technology Inc. private for about $100 million.
They are willing to pay for the remaining 68% of the company at $1.70 per share.
Even though Weedmaps’s share price has skyrocketed this year, the company has faced significant headwinds, such as competition from multi-state cannabis operators and tech providers, Google Maps, amongst others.
Since its listing via a SPAC merger back in 2021, it’s been on a free fall, and from almost $28 per share back in 2021, two years later, it tumbled below $1 per share.
Making the company private for the founders may immediately provide shareholders with liquidity, however, it has yet to be voted on and passed by the special committee, the board, and the majority shareholders.
Source: MarketWatch
New Push to Regulate Cannabis Hits Geelong, Australia
The Penington Institute has launched its campaign in Geelong, proposing the regulation of cannabis for adult use, not based on law but on health.
This is while the state parliamentary inquiry is looking into a bill to decriminalise personal use – allowing adults to have up to 50 grams and grow up to six plants.
There is a billboard campaign that challenges public opinion on the regulation of cannabis products and their safety.
It insinuates that its drugs’ packaging, potency, and advertisements, regulated and strictly forbidden, allow for safe comparison of products to black markets.
There has been strong support for decriminalisation, with more than 80% of Australians opposing penalising personal possession.
Medicinal cannabis was legalised in 2016, and many local patients report that it helps. The Victorian Government does not intend to reform existing laws about the use or possession of cannabis.
Source: Herald Sun
Cannabis Extract PHEC-66 Shows Promise in Melanoma Treatment
Researchers have isolated an extract from cannabis, PHEC-66, which has shown significant anti-proliferative effects on melanoma cell lines.
This extract, containing a 60% concentration of CBD, has shown apoptosis induction in melanoma cells; it, therefore, represents an effective therapeutic agent for the treatment of aggressive skin cancer.
The new findings were published in the journal Cells and revealed that PHEC-66 effectively lowered the viability of melanoma cells with no action upon normal cells. Indeed, this selectivity aspect is critical in anti-cancer therapy as it spares normal tissues most of their damage while attacking malignant cells.
This further suggests that the pro-apoptotic effects of PHEC-66 are mediated through the modulation of specific cellular pathways associated with cell survival and death.
Even though the mechanisms have not been explored, the results presented may allow the development of this molecule as a complementary therapy combined with existing treatments against melanoma.
It is also important to underline that such promising preclinical results cannot be considered a substitute for further investigation into the efficacy and safety of PHEC-66 in human patients.
This research contributes to the ever-growing body of evidence in the world regarding the possible medical use of cannabis derivatives in oncology.
Source: NCBI
CBD Could Revolutionize Dental Regeneration: New Study Highlights Therapeutic Potential
A new study found that cannabidiol, also known as CBD, might hold the magic key for good dental care – to be specific, it gives your teeth the ability to naturally self-repair.
The researchers found that, even with inflammation, CBD may encourage the restoration of functional activity in human dental pulp stem cells, which are critical in maintaining and repairing structure in teeth.
This study explores the activities of lipopolysaccharides, the standard components of the outer membrane of pathogenic bacteria that cause infections.
The infection triggers an immune response that causes inflammation, damaging adjacent tissues including dental pulp – the soft tissue within teeth that contains stem cells responsible for repair.
Such inflammation impairs dental pulp cells’ proliferation and survival and their ability to create dentine, hard tissue under a tooth’s enamel.
With the help of CBD, these stem cells regained growth and survival after being exposed to LPS and differentiated into cells that contribute to the regeneration of teeth and bones through the cellular pathway of Notch signalling- a critical language that cells uses for communication and development.
The findings are exciting for dentistry because they hint that one day, CBD could be used as an active therapeutic agent in promoting dentine regeneration and possibly in various other applications where dental tissues have been destroyed by inflammation and infection.
That could open up the treatment options for teeth damaged through decay, trauma, and other diseases that result in pulpal infection.
“CBD’s ability to restore both the survival and regenerative functions of stem cells in inflamed conditions is a breakthrough,”
the researchers said.
“It highlights the potential of using this natural compound to enhance dental healing and regeneration.”
Source: PubMed
Cannabis Use Normalized in Canada Since 2018 Legalization, Survey Shows
A new Health Canada survey reveals significant changes in Canadians’ relationship with cannabis since its legalisation in 2018, with more users turning to legal channels and growing social acceptance of the drug.
The 2024 Canadian Cannabis Survey, which polled over 1,600 Canadians aged 16 and older, shows that legal cannabis purchases have nearly doubled since legalisation, increasing from 37 per cent in 2019 to 72 per cent today.
Overall, cannabis use has risen modestly, with about one-quarter of respondents reporting non-medical use in the past year, up from 22 per cent in 2018.
Contrary to initial concerns, youth cannabis use has remained stable since legalisation. Ian Culbert, executive director of the Canadian Public Health Association, suggests this might be due to decreased stigma making cannabis less appealing to young people.
“If it’s something your grandmother is doing, you don’t necessarily want to be doing it too,” he noted.
The survey also indicates improved public awareness of specific risks.
Notably, the percentage of users who reported driving after cannabis use dropped from 27 per cent in 2018 to 18 per cent in 2024, suggesting successful public education efforts about impaired driving.
However, some experts warn that mental health risks associated with cannabis use need more attention. Justin Schneider, who overcame cannabis dependency after 20 years of daily use, emphasises the importance of educating the public about psychological addiction risks and withdrawal symptoms.
Source: Canadian Affairs
