NORTH CAROLINA
GOP-led medical cannabis bill gets green-light in North Carolina Senate
Benzinga reports that a measure to legalize medical cannabis in North Carolina was granted initial approval on Tuesday by the members of the state Senate in a 36-10 vote.
State Bill 3, from Sen. Bill Rabon (R), is now pending third reading passage on Wednesday before going before House members. The publication notes that, while hopes are high that the legislation will legalize medical cannabis, Rabon made it clear that recreational cannabis use will remain off-limits.
Rabon stated: “The purpose of the bill is to allow for tightly regulated use of medical cannabis, only by those with debilitating illnesses. … The recreational sale or use of marijuana remains, under this legislation, illegal.”
TETRA BIO-PHARMA INC
Tetra Bio-Pharma Inc. announces a delay in filing 2022 annual financial statements
In an announcement published by the News Wire, Tetra Bio-Pharma Inc. has confirmed that it will not be in a position to file its audited annual financial statements for the year ended November 30, 2022, the related management’s discussion and analysis and related CEO and CFO certificates before the required deadline of February 28, 2023.
It has applied to the Ontario Securities Commission for the imposition of a management cease trade order under National Policy 12-203 – Management Cease Trade Orders throughout the duration of the default.
The management cease trade order, if approved, will generally not affect the ability of persons who are not or have not been management of the company to trade in its securities.
Tetra has also said that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements.
CBD USE DEATHS
Data claiming 10 UK people have died from CBD use ridiculed by industry
BusinessCann reports that the use of data which suggests 10 people have died from CBD use has been criticized by senior industry figures.
The Committee on Toxicity (COT) highlighted the deaths when defending its position on the safety of CBD. The data is gathered by the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) and is recorded under its Yellow Card alert system which registers adverse reactions to drugs.
This data shows that as of the end of February 2023 there have been 860 ADRs and 10 fatalities from cannabidiol (CBD).
COT Chair Professor Alan Boobis had made the claims in response to a report which suggests that it, and the FSA, had relied too heavily on data from GW Pharmaceuticals in analyzing the safety profile of CBD.
Steve Oliver, Co-Founder of The Canna Consultants, co-authors of that report, says COT’s decision to highlight the Yellow Card data is unprofessional, damages its reputation, is designed to undermine the CBD industry and support the FSA’s stance on CBD.
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