Illinois Medical Marijuana Initiative Seeks Advisory Board Members

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Illinois Medical Marijuana Initiative Seeks Advisory Board MembersIllinois medical marijuana program is searching for patients and health professionals to join its 15-member advisory board. The board is expected to recommend medical conditions that can be added to the list of those that qualify a patient to use medical marijuana in the state.

The governor will appoint the board members, who will be compensated for expenses only, reported the Associated Press. While only patients suffering from certain medical conditions can obtain medical marijuana registration cards, the new law permits the public to lobby for more medical problems to be included.

The board is expected to analyze the petitions, conduct public hearings and produce written reports based on verified medical research and experience. More details regarding the application process can be found on the initiative’s website:  http://www2.illinois.gov/gov/mcpp

Meanwhile, Canadian medical marijuana firm OrganiGram saw its value more than triple when it listed on Monday. The company, which will deliver its first product by early September, is one of the only thirteen companies allowed by Health Canada to cultivate medical marijuana.

OrganiGram’s CEO Denis Arsenault estimated the company to be worth approximately $100 million after listing. The other two medical marijuana companies that have gone public include Tweed Smith Falls, Ont.-based Tweed Marijuana and Bedrocan Cannabis Corp, which is based in Toronto.

Arsenault, who attributed the company’s successful listing to its location and language, expects the current personnel of 22 to double by the end of 2014.

“We’re the only producer east of Ottawa, so it gives us a geographical advantage. And also as Francophones, as Acadians, it gives us a great opportunity to service the Quebec market, where 23 per cent of the population is situated,” said Arsenault.

OrganiGram plans to grow 16 marijuana strains for the various medical conditions, with prices set at $6 and $9 per gram. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Jonathan Millet at john@forexminute.com