The medical cannabis industry is strengthening its roots as medical institutions begin to view cannabis as a viable treatment. Nearly a century ago, cannabis was heavily regulated because of its psychoactive properties derived from the THC compound. However, extensive research and studies have since discovered that the THC compound, as well as other cannabinoids within cannabis, can effectively treat a vast array of medical conditions. Researchers have linked cannabis to the successful treatment of symptoms associated with conditions such as cancer, chronic pain, depression, and anxiety. However, despite the positive data, many of these clinical trials were small scale, which undermined the credibility of the studies. Generally, government regulators like the U.S. Food and Drug Administration require multiple, large-scale trials for the treatment to be approved. However, the FDA did approve the first ever cannabis-based drug last year for the treatment of epilepsy. Specifically, the FDA approved Epidiolex for the treatment of Lennox-Gastaut syndrome and Dravet syndrome, which are two rare forms of seizures in patients two years and older. While U.S. regulators have only approved a cannabis-based drug for the treatment of epilepsy, a handful of other countries have approved cannabis for the use with more severe medical conditions. For instance, Germany’s Parliament approved the medical use of cannabis to treat spasticity and multiple sclerosis. Meanwhile, South Korea’s Ministry allows the use of medical cannabis to treat symptoms associated with HIV/AIDS and cancer if no substitute medicines are available. The current legal uses of medical cannabis may be minimal, but as research continues to develop, government regulators will be compelled to further examine the plant. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), Tilray, Inc. (NASDAQ: TLRY), Charlotte’s Web Holdings, Inc. (OTC: CWBHF) (TSX: CWEB), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD), Valens GroWorks Corp. (OTC: VGWCF) (TSXV: VGW)

Throughout the world, many institutions such as schools and hospitals are evaluating the efficacy of cannabis. A multitude of studies have confirmed that cannabis has effectively helped patients deal with their medical conditions compared to their previous medications. For instance, the National Academies of Sciences, Engineering, and Medicine (NASEM) released a study in 2017 and uncovered that chronic pain patients treated with medical cannabis reported a significant reduction in pain symptoms. However, patients using medical cannabis for chronic pain are typically required to consume it everyday. In some severe cases, patients have reported that they cannot go a single day without consuming cannabis because their pain is not tolerable. However, the major drawback is that patients can easily develop a tolerance for the plant’s effects. Once a patient’s tolerance levels get too high, he or she will need to consume even more cannabis, which can become expensive. As such, many patients have shifted from dried cannabis flower to extracts and concentrates because they are much more potent and deliver the effects almost immediately. Despite the shift, there is still a large demand for dried cannabis flower because it is used to create other cannabis-based products. The quality of the dried cannabis can determine the potency of other products, which is why premium quality is being demanded. For instance, “craft cannabis” producers have become increasingly popular because of their high-quality cannabis buds. Additionally, consumers are beginning to opt towards craft producers because large-scale licensed producers sometimes lack quality. Craft cannabis is similar to craft beer where producers are passionate about their product and typically, craft cannabis producers take extensive measures to ensure top-shelf quality by meticulously monitoring each plant and hand-trimming the buds. Ultimately, craft producers create natural and potent products that are enjoyed by both recreational and medical cannabis users. “The art of cannabis has come a long way from the days of the dime bag, when you had no idea where your cannabis came from, what kind of pesticides or growing methods produced it, or even what strain it was. These days, in the legal cannabis marketplace, you have your choice of the best of the best of “craft cannabis,” said Lisa Rough, former Associate Editor at Leafly.

Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT) is also listed on the Canadian Securities Exchange under the ticker (CSE: CRFT). Yesterday, the Company announced breaking news that, “it has submitted a product application package to the Ontario Cannabis Store (OCS). This application is the first of its kind for Pasha and reaffirms the Company’s ability to bring quality craft cannabis products from recognized pre-legalization brands to market in an efficient and timely manner.

Brands included in the application package include: CBD Therapeutics (CBD isolates and oil formulations), Beard Brothers Collective (cannabis oils, vape pen inhalants, and shatter distillates), Theraveda (craft cannabis flower), Aurion (Craft cannabis gel capsules, distillates, and vape oil products), roll model (premium flower pre-rolls and vape oils), Grizzlers (sativa and indica flower pre-rolls), and Earth Dragon Organics (CBD-infused skincare and bath products).

‘Submitting this application to the highly coveted and intensely regulated Ontario Cannabis Store signifies that Pasha Brands and its subsidiaries are more than ready to enter the legal market with these products, following changes to federal regulations,”‘ said Dr. Brigitte Simons, Chief Scientific Officer at Pasha Brands, who oversaw the submission. ‘These brands were built by people with vision, and their narratives have been tried and tested, surviving the possibility of raids in the unregulated market and complete shutdowns since October 17, 2018. It’s time to bring these highly sought-after craft products to Canadians.’

Through Pasha’s numerous craft brands, it is offering the Province of Ontario, and soon, other provincial jurisdictions, the opportunity to access to its differentiated consumer-focused products from accomplished brands. Through its recently acquired Vancouver Island-based licensed producer, MedCann, currently undergoing a name change, Pasha is integrating production varieties of wellness-use craft products including pre-rolled premium flower, extracts, capsules, edibles, vaporizer oils, and topicals into its operations.

Tessa Serra, product manager at Pasha Brands and founder of Earth Dragon Organics, reacted to the news, saying, “I am delighted to see all of Pasha’s brands coming together, creating a robust offering of unique craft cannabis products. It is exciting to be part of the transition from the traditional to the new legal market, and I am hopeful our submissions to the Ontario Cannabis Store will bring craft access to an expanding network of people.”

SOURCE FinancialBuzz.com