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June 22, 2020 Happy Monday! Except if you co-founded MedMen. That story today, plus we have the results of a new study about how cannabis patients use healthcare and news of a cannabis research milestone out of Denver. The Morning Buzz presented by TRICHOMES brings you late-breaking news that tells you what's happening within the cannabis industry. TRICHOMES.com Today we begin with a story about MedMen. Remember them? The co-founders of MedMen Enterprises Inc, Andrew Modlin and Adam Bierman, have stepped down from their roles on the company’s board of directors, the firm announced last week. The company indicated that Modlin’s employment agreement with MedMen expired last month and he had been serving as an observer to the board. Bierman had stepped down from his duties as CEO on February 1st, but no further details were offered regarding his departure from the board. Bierman’s decision to end his tenure as CEO came after reports that the company offered its vendors shares in the company in an attempt to reduce its overhead and conserve cash. Three months prior to his exit as CEO, MedMen called off its deal to acquire PharmaCann, in what Bierman described as “in the best interest” of the company’s shareholders. In April, Milestone Investments LLP, an early angel investor in MedMen, filed an official complaint against the co-founders and Chief Strategy Officer Christopher Ganan over unpaid loans to the company. The trio has reportedly used their Los Angeles, California mansions as collateral on a $10.2 million loan and Milestone sent notices of default in March asking a court to force the men to surrender the deeds, sell off the shares they had purchased, and pay back the $2 million loan they used to acquire them. ** Next, A New Study says Medical Cannabis Patients are Using Fewer Healthcare Resources A new study has revealed that medical cannabis patients use fewer healthcare resources and report improved quality of life. To date, there has been minimal research conducted on whether medical cannabis patients in the US have perceived or actual health benefits from the medicine. Researchers from Johns Hopkins Medicine and the Realm of Caring Foundation have surveyed patients to investigate, finding that they reported less pain, better sleep, and reduced anxiety, contributing to overall better quality of life. The patients also reported taking fewer prescription medications and were less likely to have visited an emergency room or have been admitted to a hospital than people who didn’t use cannabis for medical purposes – showing that cannabis patients put less strain on healthcare resources. Results from the study showed that medical cannabis patients reported about an 8% better quality of life, a 9% reduction in pain scores, and a 12% reduction in anxiety scores. Medical cannabis patients also reported using 14% fewer prescription medications, that they were 39% less likely to have visited an emergency room, and 46% less likely to have been admitted to a hospital in the month before being surveyed. The study has been published in Cannabis and Cannabinoid Research. ** Lastly today, Denver has Awarded Their First License for Medical Cannabis R&D The city of Denver issued its first medical cannabis research and development license to study cannabis-related treatments for diseases. The license went to Denver-based medical cannabis company MedPharm. The permit allows the company to cultivate, process, manufacture, and transfer cannabis to other laboratories or cannabis businesses for research purposes. Albert Gutierrez, CEO of MedPharm, told Marijuana Business Daily that a lot of the past research has relied on “subpar” cannabis. “Our focus is on providing high-quality dosage forms,” he said. MedPharm’s first project will be to study cannabis’s effect on Alzheimer’s and dementia. The company hopes to start that project by the end of 2020. MedPharm has its own in-house laboratory to conduct studies, and it will work with neurologists and other laboratories that can perform additional research such as conducting brain scans. **That was today’s buzz! For more stories like these, sign up and create a profile on TRICHOMES.com and join the cannabis community. **Thanks for listening! Be sure to subscribe to the podcast and leave a review, it really helps others find the show. You can also keep up with TRICHOMES on all social media platforms, and the TRICHOMES YouTube channel. My name is David Fortin. **and my name is Alyson Ben-Yehuda, see you tomorrow!