Gambling Pioneer Goes To Pot 

  Gambling Pioneer Goes To Pot 

Posted by CN Staff on December 04, 2003 at 12:57:36 PT
By Reuters  
Source: Reuters  

Toronto -- Warren Eugene, a pioneer of Internet gambling, sees a lucrative new online frontier in a Canadian law that allows people with certain illnesses to grow and smoke their own marijuana. Eugene, 43, says his firm, Amigula/Medical Cannabis Inc., plans to grow and sell the drug to people authorized to use it for medical purposes, and perhaps to some people not medically authorized. He wants Amigula/Medical to become an international, publicly listed concern.
"This flower power has a new opportunity for resurgence. This is what really interested me," Eugene said in Toronto. A Canadian who spends most of his time in Nassau, Bahamas, and definitely no hippie, Eugene says he's never smoked pot and is not interested in the grass-roots movement to legalize the drug. But he sees a money-making opportunity. He's funding his venture with $5 million of his own money and wants to raise another $7 million from investors. Initially it will target medical users, but he says the market could grow if Canada confirms legislation, currently under review, that would decriminalize the possession of up to 15 grams of cannabis, just over half an ounce. "This plant [cannabis] has such a fragrance that's ready to bloom and bleed into the marketplace, so to speak, and produce an elaborate and remarkable return for investors," said Eugene, who founded the first Internet casino at: Eugene's potential customers is Marisa Zaza, 27, who has been licensed by the Canadian government to receive medical marijuana to relieve pain and swelling caused by an inoperable lump in her breast. "I wasn't able to keep any food down. So I would end up smoking a bowl, or smoking a joint to try to calm the nausea that the painkillers would cause," Zaza said. Canada says Zaza and 400,000 others can use medical marijuana; Eugene wants to tap 40,000 to start. If each buys C$1,000 ($765) worth of marijuana a year, annual sales could reach C$40 million, he said, adding that he will sell the cannabis at C$3 a gram, less than half the street price. He plans to grow the marijuana in Vancouver and Ontario and sell it to people approved by the government through the Web site Buyers will receive their cannabis via courier. He intends to approach doctors and also sell in other countries where use of cannabis is legal for medical purposes. He wants to list his company on stock markets in Denmark, London, Amsterdam, Canada, Australia and Paris. Eugene already has a stock market vehicle. Shares of Applied Computer Technology Inc. are trading on Nasdaq's over-the-counter market after a reverse takeover in which Warren sold 51 percent of his private Canadian firm, Medical Cannabis Inc., in exchange for controlling interest in the Colorado-based technology company. Medical Cannabis Inc. was formed in September and owns a patent for a marijuana patch -- similar to the nicotine patches that smokers use to help them quit. Applied Computer Technology will be renamed Amigula and should soon start trading under a new ticker symbol, he said. "If marijuana works, I am going to go with opium next."  Note: Internet casino founder sees profit potential in grass roots movement for legal cannabis in Canada.Source: ReutersPublished: December 4, 2003Copyright: Reuters Limited CannabisNews -- Canada Archives

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Comment #10 posted by darwin on December 05, 2003 at 06:41:51 PT
another cause
When prohibition is legal, there is a cause waiting for you. we get the oil men out of power, we are lemmings running off a cliff of energy dependence.
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Comment #9 posted by FoM on December 04, 2003 at 21:44:58 PT

Rev Adler
I removed your post on the other thread. Please take issues that should be private to an email. Thank you.
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Comment #8 posted by FoM on December 04, 2003 at 21:33:10 PT

Rev Jonathan Adler 
Rev Adler I really don't know. I do my best not to form opinions. I feel I should stay neutral in that area. I have a responsibility with CNews and I want to do what I do here to be the right thing. That's as far as I think. I hope this makes sense. If the laws were changed tomorrow I don't have any idea what I would do if news wasn't needed anymore but I probably would become a tree hugger. No not really but I would find another cause. I'm a cause type person. There are many needs in this world and I'm happiest when I can help somehow. 
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Comment #7 posted by Rev Jonathan Adler on December 04, 2003 at 20:50:40 PT:

Medijuana is the future of cannabis!
Aloha and Shaka' to Warren Eugene! The bruddah is cool!
He sees the same reality I have for twenty years and is positioned well to accomplish the dream! I just pray I can be of some beneficial impact also. A "dream team" of Eugene, Adler, Doblin, Rosenthal and Peron is possible and it would bulldoze the obstacles we have faced for so many years. Between the Doblin Project (MAPS), the Adler Project (Hawaii Medijuana), the Rosenthal Project (Bay Area Supply) and the never-ending Peron Project (Lake County) and Eugene's Project ( Amigula); I see a true network effect.
A religious protocol and protection is needed until and after Federal medical recognition because healing is true medicine. Remember the original doctors were shamans and religious healers. There is a new place for "sacramedicine" (TM) in this arena. It is the key to solve this problem of legal access. FoM; what is your take on a valid religion guiding the new sacramedical industry and umbrella-ing the whole network within a religious framework that meets and exceeds the federal requirements for religious defense?
I am open to assist the transition as it occurs. Peace and safe travels to all.Happy Holidays!
East Hawaii Branch/Religion of Jesus Church
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Comment #6 posted by jose melendez on December 04, 2003 at 19:45:41 PT

No Weigh Jose's
Yes'm, that's what capitalism really is.What do you think of the name of the club I want to open when pot prohibition is illegal?No Weigh Jose's- For a modest cover charge, a huge barrel of seasonal brick is available for patrons to grab a handful and chill, whole premium buds are served at the bar. Think light, and tip heavy!(opening soon near you: No Weigh Jose's Bud Bar and Toke House)I can dream, eh?
tell Congress
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Comment #5 posted by FoM on December 04, 2003 at 17:53:25 PT

Competition does breed success and it will make the prices more reasonable. Isn't that what capitalism really is?
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Comment #4 posted by jose melendez on December 04, 2003 at 17:45:58 PT

competition breeds success
I think competition is good for the consumer and tends to create niche specialized markets and services. Let them be a wholesale producer at $3 per gram, all the more reason to have different flavors and pricing, like beers.
brand recognition
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Comment #3 posted by FoM on December 04, 2003 at 17:00:24 PT

I hope Marc Emery does too. 
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Comment #2 posted by ben on December 04, 2003 at 16:44:56 PT

I hope people like Mark Emery start there own bud bus rather that letting some clingon get rich.
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Comment #1 posted by FoM on December 04, 2003 at 16:08:09 PT

$3 a Gram
I wonder if this will come to be or not? 
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