Welcome to Senior Cannabis Digest. This week you’ll find profiles of seniors who are still using cannabis in their 70s and beyond, an update on two notable senior cannabis advocates—Cheech Marin and Tommy Chong— and news of a positive turn for Canopy Growth. Enjoy.
Cannabis and Seniors
If you are a mature consumer of cannabis there is good news—you are not alone. In fact, far from it. As Meg Hartley points out in her recent article for Leafly, whether for recreation or for medicinal reasons or both, many seniors continue to enjoy various forms of cannabis well into their 70s and beyond.
In her article Hartley profiles a married couple from Oregon—Ken and Paula—who are both in their 70s, who keep several plants in their backyard and enjoy cannabis socially. Ken also uses a CBD balm to treat an achy back and knees.
He told Hartley, “Cannabis lets you notice one form of sensory input and really let it all in. It makes me feel more comfortable in my own skin. Like I can’t dance, but when I smoke marijuana it makes me feel like I can—and I almost can!”
Hartley also describes a woman from New Jersey named Carol who is in her 80s and uses marijuana for a variety of medical reasons, including “a bad back, symptoms from surgery, a couple of collapsed discs, a hurt rib, arthritis, and more.”
“It helps everything,”said Carol, “including the depression. But mostly what it does is help me by giving me something I can concentrate on so that I forget about the pain.”
After discovering that she went to high school with one of the organizers, she joined the New Jersey cannabis community and has begun to work for full legalization in the state.
The article also introduces readers to a 70-year-old woman named Kate who started smoking in the 1970s and is still enjoying it. She told Hartley her use and enjoyment of cannabis hasn’t changed all that much since the 70’s, though she does enjoy a vape pen when she goes to the Jersey Shore, where the houses are close together and “the smell of a joint is too conspicuous.”
To enjoy Meg Hartley’s charming and informative article in full, visit the February 7, 2020 edition of Lea
www.leafly.com/news/lifestyle/seniors-its-okay-that-you-still-love-cannabis
Stat of the Week
According to Weedmaps, by 2022 the U.S. Cannabis industry is projected to generate $23.4 billion in annual sales.
Senior Celebrity Spotlight
An actor, writer and activist long associated with marijuana in pop culture has entered the cannabis marketplace as the head of a family business whose slogan is “It will always be good.”
Cheech Marin, perhaps best known as part of the comedy duo Cheech & Chong, as well as for his work in other film and TV roles, has partnered with Redwood Cultivators of Nevada to create his own brand of cannabis products called Cheech’s Private Stash. Redwood Cultivators also has an agreement with Willie Nelson to serve as the exclusive distributor in Nevada for Willie’s Reserve, a company founded by Nelson.
Cheech’s Private Stash.
Also an avid golfer and collector of Chicano art, Marin is personally involved in the production of the business, selecting strains and working with master growers to produce cannabis products that are “all natural” and sustainable.
According to Melanie Erbar, who profiled Marin for an article in Benzinga, the operation is truly a family affair. Marin’s daughter Jasmin oversees the business’ brand image and package designs and his son Joey-Dee assists in the bud production and selection process.
Cheech’s Private Stash offers pre-rolled joints and flower in a variety of strains that can be purchased at dispensaries throughout California, Nevada, and Colorado as well as online.
When asked by Beca Grimm in an interview that appeared in Merry Jane why a consumer should trust his opinion over someone else’s, Marin responded with, “Well, because I’m Cheech. If you can’t trust Cheech, who can you trust?”
Not to be left out, Marin’s partner in comedy and “crime,” Tommy Chong, has announced his own foray into the product side of the cannabis business. Chong has a licensing agreement with Hollister Biosciences Inc. (CSE: HOLL). The company will produce and sell Tommy Chong’s Cannabis Full Spectrum Elixir 1:1. The product is a tincture with a 1-to-1 ratio of THC to CBD. The first sales are expected at the beginning of March with a projected retail price of $70 per unit.
To learn more, visit Melanie Erbar’s article in the February 3, 2020 issue of Benzinga or Beca Grimm’s interview with Marin in the February 12, 2018 issue of Merry Jane. You can also visit the company’s website, which can be found below.
For more on Chong’s venture, visit Nina Zdinjak’s reporting in the February 10, 2020 edition of Benzinga.
merryjane.com/culture/cheech-marin-private-stash-interview-cali-week-feb-2018
Cannabis and Workers Compensation
Employers and workers may be surprised to learn of an unintended consequence of legalizing medical marijuana that may benefit both of them.
That’s the word from Matt Saintsing in an article for Marijuana Moment. He reports that researchers from the University of Cincinnati Ash Blue College and Temple University contend that having access to medical cannabis “can allow workers to better manage symptoms associated with workplace injuries and illnesses and, in turn, reduce need for [workers’ compensation].”
The research, which appeared in the academic journal Health Economics, demonstrated a decline in workers’ compensation claims of nearly seven percent in states that have enacted medical marijuana laws.
The authors believe their findings suggest “workers use marijuana medically to treat symptoms associated with work-related injuries and illnesses and that marijuana is effective in reducing symptom burden associated with these ailments.”
According to Saintsing the researchers believe expanding access to medical cannabis can have other positive effects in the workplace, including increasing the capacity of older adults to perform in the workplace work and reducing work absences.
You can learn more by reading Matt Saintsing’s detailed article in the February 12, 2020 edition of Marijuana Moment.
Investment News and Notes
Those who look to cannabis companies as potential investment targets may be pleased to learn that the company often described as the world’s largest ended the week by posting results that surprised many—and that was a good thing.
Canopy Growth (CGC) finished the week up more than 13 percent after its third-quarter financial results surpassed expectations.
According to Alicia Wallace, reporting for CNN Business, Canopy Growth (CGC) finished the week up more than 13 percent after its third-quarter financial results surpassed expectations. Canopy’s net revenue of $123.8 million and net loss of $124.2 million, or 35-cents-per-share beat consensus estimates of $108.7 million revenue and a 50-cents-per-share loss, according to Refinitiv.
Wallace went on to point out that despite encouraging results from Canopy—often looked at as an industry bellwether— the cannabis industry as a whole is still going through a correction. Tim Seymour, founder of Seymour Asset Management and manager of the Amplify Seymour Cannabis ETF told Wallace, “I don’t think this is a green light to buy the entire asset class.”
Said Seymour, “I do think there are going to be plenty of companies going out of business.” He went on to cite the fact that many cannabis companies’ recent earnings reports have been mixed, and larger operators are still encountering challenges.
To learn more, visit Alicia Wallace’s reporting in the February 15, 2020 issue of CNN Business.
www.cnn.com/2020/02/15/business/canopy-growth-cannabis-stock-jumps-strong-earnings/index.html
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com or 347-528-8753.
