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Russia Claims Canada Intentionally Breached International Law By Legalizing Marijuana

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The legalization of marijuana in Canada has sparked different reactions around the globe. Some people have been eagerly waiting for it. However, Russia is so incensed by the act, it has even gone ahead to state that the country deliberately decided to breach the international law.

Canadian lawmakers recently voted to pass the law to legalize marijuana. The said law regularizes the production and distribution of cannabis for recreational use. This made Canada the first member of the G-7 to legalize weed.

On the other hand, Russia is the only G-7 state member to have imposed tougher rules in prohibiting marijuana over a period of the last 20 years.

Russia amends the law on marijuana

12 years ago, the Russian government amended the quantity of weed that an individual can have so as to be deemed of committing a crime. Initially, one could have been charged for being in possession of 20 grams and above of weed or 5 grams and above of shell. This was tightened to only 6 grams and above of weed and 2 grams of the shell.

Hence, the Canadian move does not seem to sit well with Moscow who has since warned that legalizing cannabis should be termed as a breach of international law. Russia is urging the members of the G-7 to deal with the matter. The country’s Ministry of Foreign Affairs stated that it expects Canada’s partners at the G-7 to respond to its high-handedness because the alliance has repeatedly declared its adherence to the domination of international law in relations between states.

Canada privy to international treaties

Canada is privy to the international conventions since it has signed treaties that were meant to cut the drug trade thereby reducing the production and use of drugs. The only exemption is drugs meant for medical or scientific uses.

The Ministry of Affairs highlighted that it was important that the UN General Assembly Special Session on the World Problem of Drugs, which took place on April 21, 2016, made it clear in its final document, for which the Canadian delegation also voted, that the three anti-drug Conventions are the cornerstone of the international drug control system.

It is now up to the G-7 members to decide on the next course of action.

BUSINESS

Wanderport Corp. (OTCMKTS:WDRP) Targets The Skincare Market With Its CBD-based Hempova Skincare Products

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Wanderport Corp. (OTCMKTS:WDRP) has announced the launch of its CBD-infused Hempova skincare facial serums through which it plans to tap into the skincare market.

This is an interesting step for the company considering that it previously dabbled mainly in the food and beverage industry with products infused with CBD derived from hemp. However, the company is now leveraging its manufacturing prowess and CBD knowledge to expand into the skincare market with the CBD-infused Hempova skincare line.

“Growth in the global skincare industry in general and in the anti-aging segment, in particular, has been staggering and we are excited to introduce our line of CBD serums,” stated Wanderport’s interim CEO, Liliana Vo.

The CEO also noted that her company also wants to introduce new products in the future as part of its campaign for people to adopt a healthy lifestyle. The company will announce the additional pipeline products in the future. For now, the launch of the Hempova skincare facial serums will allow the company to assess the market and see how things go.

The Hempova skincare product line consists of Collagen Cream, Eye Serum, and Anti-aging Face and Neck Cream for Men. All of the above products are developed using high-quality ingredients such as CBD, collagen and Hyaluronic Acid. These ingredients are supposed to help rehydrate the skin and at the same time helping the skin to appear youthful.

Wanderport cannot afford to ignore the lucrative skincare market

Wanderport has also entered the skincare market at an opportune time when the demand is shifting. Skincare products were in the past mostly purchased by older consumers but now there is a wave of younger consumers that are adopting the trend.

One particular segment of the skin care category that has seen significant growth in the anti-aging skin care segment. The segment was valued at $250 billion globally in 2016 and analysts estimate that it will be worth $331 billion by 2021.

Wanderport does not intent on being left behind by the anti-aging product wave. It has its Hempova anti-aging skincare product line that will allow it to secure a piece of the pie. The product line will target spas, wellness centers, and boutiques.

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Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Stakeholders Give Go-ahead For Business Combination With Verano Holdings LLC

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Harvest Health & Recreation Inc (OTCMKTS:HRVSF) announced a few days ago that its shareholders together with those of Verano Holdings LLC approved a business combination between the two firms.

The idea of a Business Combination Agreement between the two companies was introduced in April this year. Once the agreement is in motion, Verano and Harvest Health shareholders will get to own stake in the merger which will handle the business operations of both firms.

An overwhelming number of Harvest Health investors voted in favor of the merger and the same case for Verano investors who unanimously agreed that it was the best way forward. The voting took place during a special meeting that was held towards the end of June.

Harvest shareholders and Verano shareholders will exchange their ownership stake on a 1:1 basis as part of the agreement. This means that Verano shareholders will receive Harvest Health shares while Harvest shares will receive Verano shares.

Harvest Health buys out Leaf Life dispensary

More recently, Harvest Health announced that it acquired Leaf Life, the only medical cannabis dispensary that is licensed in Casa Grande, Arizona. The strategic acquisition adds to the company’s growing portfolio of acquisitions in Arizona. It previously acquired a company called Devine Hunter, Inc., and that gave it access to six licenses.

Harvest Health’s acquisition of Leaf Life means the company can now operate in about 18 facilities and dispensaries that are based in Arizona.

“Arizona is the third largest medicinal cannabis market in the United States, yet too many in our communities still do not have adequate access to dispensaries that offer the high-quality medicinal products,” stated Harvest Health’s Executive Chairman Jason Vedadi.

Harvest Health therefore targets Arizona as one of the underserved markets where it can potentially secure a strong footing. Ricky Hendrickson, the vice president of Leaf Life pointed out that his firm agreed to a buyout by Harvest because the company seems committed to achieving success in Arizona. He also revealed that the two businesses agreed to a 2-year stock option lockup. Leaf Life will now become part of Harvest Health following the transaction.

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Crop Infrastructure Corp (OTCMKTS:CRXPF) Announces Definitive Agreement For World Farms Corp To Go Public

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Crop Infrastructure Corp (OTCMKTS:CRXPF) announced towards the end of June that World Farms Corp, its investment holdings secured a definitive deal with Graphite Energy Corp to go public.

The deal will facilitate a reverse takeover and World Farms Corp will go public through the Canadian Securities Exchange. Crop Infrastructure currently owns a sizable stake in 10 World Farms Corp at 10 million shares. Crop divested its stake in Jamaican and Italian joint ventures in February so that it could purchase the 10 million World Farms Corp’s common shares at $0.20 per share.

“By divesting our Italian and Jamaican assets to World Farms, it has allowed CROP to focus and expand its operations in the USA, as well as gain a major investment,” stated Crop Investment Holding CEO Michael Yorke.

The CEO also noted that the reverse takeover will go on as planned and that it was pending regulatory greenlight by the CSE. Yorke also noted that World Farms already has 100,000 cannabis plants in cultivation, and it plans to grow an extra 500,000 plants in Croatia over the next few weeks.

Crop Infrastructure acquires license for its Emerald Heights brand in California

Crop Infrastructure also announced in June that its brand Emerald Heights was awarded a provisional license that will allow it to run retail operations, a smoking lounge and delivery services in Cathedral City. The company also hired a local real-estate broker to secure an ideal location for the company’s new location for Emerald Heights in California.

The company also revealed that it already paid a US$30,000 down payment on the new location in Cathedral City. The Emerald Heights brand will handle deliveries in key routes within Coachella Valley and the Bay Area. The brand is also looking for a partner that will assist with distribution in Southern California.

Crop Infrastructure also revealed that its extraction partner in California has already carried out the extraction process on the first harvest batch from 2018. The THC distillate oil extracted from the 2018 harvest will be incorporated into 30,000 vape cartridges. Some of the extract will also be used in pre-rolled joints and also to build up inventory.

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