FastForward backs Canadian medicinal marijuana venture

A GUERNSEY company investing in the development of marijuana for medical purposes in Canada has had to seek legal advice on how it can treat any financial return from the investment being realised in the island.

US Marijuana 1

Guernsey-based FastForward Innovations, a venture capital firm which favours technology and digital, biotechnology and pharmaceuticals for investments, has backed Nuuvera Corp, a new company focusing on medicinal marijuana opportunities in Canada under licence from the Canadian government, with C$3m.

As with the UK, and a growing number of countries, Canada currently permits, on prescribed conditions, the possession and production of marijuana and other authorised derivative products by licensed producers under the Access to Cannabis for Medical Purposes Regulations. All sales require medical documentation as set out in the ACMPR.

Lawyers from Collas Crill were involved in an international team advising FastForward, with the local firm specifically looking at the application of Guernsey laws on such an investment.

‘The legalisation of a number of drugs for either medicinal or recreational usage is a growing trend worldwide and different countries are approaching how they regulate, or don’t regulate, this in different ways,’ said Collas Crill group partner Wayne Atkinson.

Comments for: "FastForward backs Canadian medicinal marijuana venture"

PLP

Just waiting for the usual polarised arguments for and against the legalisation of cannabis......

donald

Just hope I don't meet the car Driver "under the influence"!

#gashtag

I bet you pass 'drink drivers' every week without knowing it (assuming you drive). I reckon the success rate in terms of catching these creatures is minimal.

Annual deaths from marijuana related activity versus alcohol related activity is? Alcohol contributes far more damage to society.

#alternativefacts

markB

True - but some may say why add yet another drug to the equation, Its not as if people that smoke weed suddenly don't drink alcohol anymore, I would say they go hand in hand..... A few beers and a spliff oh!! and spare ribs from the Chinese for the munches.

Beanjar

Quite right markB, I've never met a single cannabis smoker who didn't also drink to excess. This tedious b.s. 'argument' always gets repeated though!

Jake

That might say more about your social circles than it does as a statistic for alcohol to pot usage. In contrast I know a lot of people that would rather smoke pot than drink alcohol and actually does the former of the latter and doesn't touch a drop.

I think cannabis being legalised would see a drop in alcohol sales as people only have so much disposable income and there will be a variety of how the two are used for each individual.

Bibbit

PLP - no, you need to be on facebook for that ;-)

sidney

Licenses for the production and/or possession of herbal cannabis for medicinal use are not permitted in the UK. According to UK authorities raw herbal cannabis has no medicinal benefits. Take a look at CLEAR UK. If cannabis was permitted for medicinal use why all that fuss?

In order for any profit made from the Canadian venture to be banked in Guernsey, the shareholders would need to be granted a license for the production and or possession of herbal cannabis in Guernsey. Failure to obtain one would mean the shareholders would be money laundering.

I for one would be very interested to know if the States of Guernsey would allow businessmen to improve their portfolio, while at the same time not allow sick people to improve their health.

Can I rely on the GP to accurately report on the subject though?

Jeffers

I am a bit surprised that Alderney and Sark have not looked at this. Possibly they have and have been told that it is not viable. If grown under license, what is the issue?

Don Tramp

Nabis is the work of the Devil repent all ye sinners or burn in hell. Meanwhile lets start a few wars and pinch some fossil fuels.

An AI Forever

I feel inclined to blow my mind

Get hung up, feed the ducks with a bun

They all come out to groove about

Be nice and have fun in the sun

I'll tell you what I'll do - What will you do?

I'd like to go there now with you

You can miss out school - Won't that be cool

Why go to learn the words of fools?

What will we do there? - We'll get high

What will we touch there? - We'll touch the sky

Have a wonderful day

Bibbit

AAF - you're too beautiful, especially after a spliff ;-)

Election Issues

Justin Trudeau of Canada is preparing a bill to tax and control cannabis. This is to protect young people from say access to cannabis and deprive criminals of an enormous source of revenue.

New legal markets in US offering a range of lower risk legal products with clear health warnings to drive consumers towards safer regulated products.

In 2016, Arizona, Maine, Massachusetts, Nevada and California held votes to legalise recreational marijuana.

Alaska, Colorado, Oregon and Washington

Election Issues

Sorry-

....and Washington have all legalised, regulated and taxed marijuana for recreational use by adults, similar to laws that govern alcohol use.

California was first state to deregulate marijuana for medical use in 1996. The state has some of the most relaxed qualifying symptoms, making it relatively easy for patients to receive treatment.

Maine will be the first state to allow cannabis social clubs where people can go to buy and use it, much like a bar. Apparently pot tourism is big business.

Florida, Montana, North Dakota and Arkansas voted to allow qualifying residents with their doctors recommendation access to medical marijuana treatment joining 25 states that have already developed medical marijuana laws.

Meanwhile in Aintree, England, police uncovered a £2million cannabis farm where they found 500 plants growing inside an industrial unit. The police said that these plants would have been sold on the streets, to line the pockets of criminals involved in serious and organised crime and to cause misery and harm in the community.

markB

and?

Election Issues

.....and can you really see Guernsey legalising, regulating and taxing cannabis as the US states and Canada have agreed or will Guernsey continue to follow England to stop what the police say is the cause of misery and harm to people in a community.

markB

No I can,t see Guernsey doing that, took long enough to get Sunday trading.

#gashtag

It won't be legalised why Guernsey is still run by a cult based on religion.

Drink and violence fine. Smoke and a pancake not fine.

#governedbybackwardsthinkers

Beanjar

They will be changing those laws back again once they see the increased drug-related crime and drug addiction figures.

CAT

I don't suppose they will. Prohibition didn't do much to cut alcohol consumption it just drove it into the hands of organised crime and the producers of dodgy, unregulated 'moonshine'. Legalising and regulating marijuana is no different to regulating the production and sale of alcohol or tobacco. Likewise legalising and regulating medical marijuana means that there is control over and standardisation of strength, dosage and the appropriateness of claims for efficacy. There is actually a fairly sound case for decriminalisation of drug use altogether and targeting resources against illegal supply.

Rokayne

Actually, permissiveness- by turning an blind eye or change in law - does help control access to drugs for recreational use. This is clearly demonstrated in the U.K. After allowing 24 hour drinking alcohol and the problems this has caused, often at weekends, with people or of control, ill and in personal vulnerability to predators

Jake

They haven't changed the alcohol laws due to alcohol related crime and alcohol addiction. I'm yet to see a good reason why alcohol should be legal and cannabis should not.

John West

Medicinal marijuana is available here - beyond that this Island seriously does not need more drugs around.

Before anyone spouts on about the medical benefits (which I'm not denying there are none), if it were so compelling then why haven't places like Amsterdam or the eight US states that have decriminalised it (for medial/personal use) exploited the use of it as it would be a big money maker if the reports are to be believed.

This Island has a serious issue with mental health with huge numbers on anti-depressants – drugs such as alcohol and cannabis do not help in this area. We have a big enough issue with alcohol related problems already without adding cannabis to the mix as well.

As always, there are a vocal minority speaking for the general population. The majority of Islanders do not want this and I would ask that you email your deputies stating as such – doing nothing here is as good as agreeing with those that a for decriminalisation.

matt

John,

From speaking to other people I'd suggest the general population aren't too fussed about cannabis and would support decriminalisation simply as its viewed by most as fairly harmless.

The defacto-decriminalisation of small amounts of cannabis for personnel use or small grow operations is already happening in the UK. History suggests what happens on the mainland will be copied in Guernsey.

.

flipflop

so where do you get your facts from John ?

#gashtag

JW is a believer. Those are his facts. Scientific studies don't stand a chance when you have an imaginary friend who knows what is best.

#decouplethetrain

John West

I meant cannabis, not marijuana (obviously)

sidney

Can you explain the difference between cannabis and marijuana please John?

CAT

They both derive from the plant cannabis sativa. There are different varieties used but usually marijuana ( hash/weed) refers to the dried flower heads. Cannabis resin and cannabis oil I believe are derived from the seeds. Hemp fibre is usually made from the more woody stalks of the plant.

JamesNess

This is mostly wholly incorrect. You are right in that 'weed' or herbal cannabis is derived from the dried flower heads. However "cannabis" and "marijuana" are essentially the same thing, just two different words to describe the same item. Smokable cannabis is derived from both "cannabis sativa" and "cannabis indica." In fact the majority of modern strains are a cross breed of both indica and sativa. Cannabis resin or hash is made by extracting the resin from the plant (flower heads and some leaves) by beating or other means and then compressing the extract into blocks under pressure. Cannabis oil is made via distilling and evaporating until a oil of mostly pure cannibinoids is achieved. Neither has anything to do with the seeds of the plant.

Guernzee

Sort of, both are just slang terms for the same product. Primarily the head or bud of a female plant is used, resin also harvests the trichomes from the plant but instead its mixed with other products to create 'hash'. There's quite a bit more to it than this but to scratch the surface that's the difference between the two.

Rokayne

This is such a load of sensationalist free advertising.

Cocaine and heroine are used medicinally, I think by the medicinal names diamorphine and morphine. The best quality drugs are herbally based. It's not unreasonable to think cannabis would also, therefore, have medical benefits.

But I get the feeling recreational addicts are pushing for the use of cannabis medicinally as an excuse to support their addiction as a recreational user.

Island_Ranger

? Cocaine is not diamorphine. Diamorphine is a medically used version of heroin. And morphine is not the same as heroin, it is different chemical (less addictive and less dangerous)

So you agree cannabis probably has medical benefits (it irrefutably does by the way) but you are worried that recreational users are using this as an excuse to get it legalised to feed their addiction?

Even if they are, that's not a reason to stop it. Depriving those who can benefit from it because the few want to abuse it is not what a progressive society should be doing. Secondly, they wouldn't be able to get hold of this legal medical marijuana without a medical reason. So it's not going to help with their recreational use at all.

JamesNess

Cannabis seeds contain no THC (one of the main active chemicals in cannabis), hence they are legal to purchase and own. Hemp fibre is made from "cannabis ruderalis" a variety of canabis that contains a very small amount of active cannibinoids and as such is not used for smoking. This variety also grows taller than the first two i mentioned so the fibres gained are of more use.

Guernzee

Ruderalis is also crossed with photo period plants to produce an auto flower plant which is very fast to grow (12 weeks give or take) and does not respond to light/time changes so can be kept under lamps 24/7 if needs be. It goes to show though that the majority of people through no fault of their own know very little about the plant and how certain parts are extracted and ultimately used. Not that I'm saying I'm right and they're wrong.

RSebire

I have been asked several times before by doctors to write a book about why I created Super Skunk in the 90's. For a medical perspective.

To be honest I thought it would get most of my friends, whom where regular heroin addicts to quit that and smoke instead. It did not.

It now has become such a designer drug, it's hard to tell what your smoking.

I grow blue square tomatoes now as an atonement as they contain a chemical that fights cancer instead.

Never create a drug. Otherwise every life it destroys, are due to your actions.

Chris

Forget cannabis. Has anyone else tried tomacco? Don't laugh, it is very possible as I have grown some with careful grafting. It takes a lot of grafting before you will get a viable plant and the slugs love em. The buzz you get from the fruit is far higher than in a single ciggy. A new legal export?

All That Glitters is a Mare's Nest

Won't somebody please think of the children!

Statisaying

Here here, I couldn't agree more.

Don't just decriminalise Cannabis.

Legalise it to take the market away from criminals.

Regulate it to keep children out of harms way.

Tax it to generate revenue to pay for honest, appropriate public health information.

An AI Forever

And I, I am feeling a little peculiar

And so I wake in the morning

And I step outside

And I take a deep breath and I get real high

And I scream from the top of my lungs

What's going on?

flipflop

ah a 4 non blondes fan

HONESTLY

John West is right - Guernsey does fully licence the growing and use of Cannabis, for those who have obtained the licence from the States.

The fact that this licencing is already in place, paves the way for innovate companies like FastForward to apply for the licence. It also removes the requirement for the states to have to 'Decriminalise' the use in Guernsey, all Gsy would need to do is extend the remit of the licences.