Weed Week: Cannabis ice cream deal and Israeli CBD market worth US$475m by 2025
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Massachusetts based cannabis operator MariMed has just announced a joint collaboration with the legendary Boston ice cream brand Emack & Bolio’s® to create a line-up of cannabis-infused vegan and dairy ice cream.
The ice cream will contain MariMed’s full spectrum of natural cannabinoids and terpenes from whole plants as are used in its Betty’s Eddies™ and K Fusion™ brands – so yes, it will give you the munchies.
The cannabis ice cream line is expected to debut in Massachusetts this year, followed by launches in other legal cannabis markets.
Then there’s American manufacturer cbdMD who have signed an agreement to enter the Israeli market with IM Cannabis Corp.
Essentially, IMC will have the exclusive right to import, sell, distribute and market cbdMD’s products in Israel subject to the execution of a definitive agreement – and the legalisation of CBD for non-medical purposes in Israel.
“Upon the legalization of CBD products in Israel, the Israeli CBD market is expected to reach up to US$475 million by 2025,” IMC ceo Oren Shuster said.
And on Aussie shores, the Department of Primary Industries and Regional Development says that a pilot project has shown that industrial hemp has promise as a potential high yielding, multi-purpose, summer feed option for livestock.
Apparently, there were no adverse effects on feed intake or animal performance on the Merino wethers – but THC was detected at low levels which would not meet regulatory requirements.
The biggest weed winner this week was Creso Pharma (AX:CPH), up 23% off the back of news its wholly-owned Canadian subsidiary Mernova secured a medicinal cannabis sales licence and new purchase orders totalling C$224,580 ($242,546).
“Mernova is well positioned to expand its presence in the Canadian medicinal market, while continuing to increase market share in the country’s growing recreational market,” Mernova managing director Jack Yu said.
Next up was Incannex Healthcare (ASX:IHL), up 19% who announced it had completed the human research ethics committee submission for its phase 2a Psi-GAD study that combines the administration of psilocybin with specialised therapy to patients with Generalised Anxiety Disorder.
Botanix Pharma (ASX:BOT) was up 16% on no news, followed by Suda Pharmaceuticals (ASX:SUD) which jumped 13% after appointing a new independent non-executive director in oncology expert Dr Dr Debora Barton.
And trailing the pack was Roto-Gro International (ASX:RGI) up 5% even after highlighting the adaptability of its indoor vertical farming technology by applying to the NASA and CSA Deep Space Food Challenge.