U.S. FDA to hold initial hearings on CBD dosage limits in food and drinks this week

Auxly Cannabis Group Inc (CVE:XLY) (OTCMKTS:CBWTF) shares rolled up Monday after it reported its first-quarter results, with a number of highlights, including subsidiary Dosecann Cannabis Solutions, which pushed forward product research and development, formulation and manufacturing in 1Q. 

Dosecann is developing edible and concentrate products for sale in both medical and recreational markets and owns one of Canada's largest cannabis extraction and manufacturing operations, a 42,000 sq/ft facility in Charlottetown, PEI. Shares were up 1.2% at C$0.83 on Monday afternoon in Canadian trading. 

For Downtown Eastside residents, accessing legal marijuana as an alternative for harder drugs is not an easy task.

However a Vancouver city councillor is trying to change that, by ending a three-year-old exclusion zone keeping a potential low-cost, legal opioid alternative out of the area, and creating new "regulatory options and potential pathways" for a community still deep in the grips of the country's opioid crisis.

Coun. Rebecca Bligh tabled the motion titled "Cannabis as an Alternative to Opiates and More Dangerous Drugs on the Downtown Eastside," which will be discussed at the next regular council meeting on May 28.

Chances are that you'd struggle to find a faster-growing industry right now than legal marijuana. With global sales expected to grow by 38% in 2019, and more than double between 2018 and 2022, the cannabis industry has all the makings of a once-in-a-generation investment opportunity.

Then again, choosing what stocks to sink your money into in a nascent industry is never easy. In many instances, the most popular stock in a fast-growing industry isn't the one that winds up being the best long-term investment.

Despite the discovery of a "product resembling cannabis" that was actually carfentanil, there are no documented cases of opioids being found in marijuana in Canada, according to the Ontario Harm Reduction Network (OHRN).

Some public health organizations and police forces have issued the warnings after the substance — which, despite looking like cannabis from a distance, actually contains no marijuana — was discovered in southern Ontario.

However, Thunder Bay Drug Strategy coodinator Cynthia Olsen said the OHRN has issued a statement about the substance out of concern that the warnings are giving the impression that cannabis containing opioids has been found in Canada.

That has not been the case, Olsen said.

Cronos Group (NASDAQ:CRON), Canada's third-largest pot company by market capitalization, has suddenly turned into a black sheep. In effect, the company's shares have shed 24% of their value since hitting a high-water mark last March following the closure of its $1.8 billion deal with Malboro-maker Altria(NYSE:MO). 

The use of CBD as an ingredient in many treatments and even foods have become an unstoppable trend. Although, various companies were unwilling to sell CBD and related products due to its legal implications, according to Forbes, the financial services company, Square have started to take a slightly different approach. A Square representative spoke to Forbes about how the payment processing service has started to accept payments for specific CBD products.

Aphria (TSX:APHA)(NYSE:APHA) stock tanked after a controversial research report from a hedge fund accused the company of being a shell with a marijuana business on the side. Over the last year, Aphria’s stock has lost 16% compared to the outsized gains of its peers, including industry leader Canopy Growth surging by 63% and Cronos Group gaining a whopping 175%.

Legalization in North America has raised many questions. For example, can you take cannabis to your hotel room when on vacation? The age of cannabis legalization is most certainly upon us, with Canada being the most recent on the list to legalize the herb for both medical and recreational. However, in most states where cannabis is legal, on whatever level, consumption is limited to private spaces; usually at home.

Even in states where cannabis is legal, it’s not alright to light up a joint in a club, bar or restaurant, or any similar public space. This doesn’t apply across the board, but for the most part, people enjoy their cannabis in the comfort of their own home.

This week, lawmakers, cannabis entrepreneurs, investors, and other influential people gathered in Washington D.C. for KCSA’s Congressional Cannabis Day Forum. Speakers included Rep. Earl Blumenauer, CNBC’s Tim Seymour, Rep. David Joyce, Rep. Barbara Lee and Rep. Don Young.