420 with CNW – Survey Shows That Canadians Aren’t Moved by Cannabis Branding

A survey published by Brightfield Group has found that the majority of Canadians are unable to tell pot brands apart despite the resources that these companies have put into marketing.

About 3,000 Canadians were polled during the first quarter of this year. The overwhelming finding of the survey was that brand awareness was woefully low among Canadians, and that they suffered from “decision fatigue” as a result of being faced with so many brands to choose from when they visit a cannabis retail outlet.

Approximately 41% of Canadians said they were aware of Tweed, a brand from Canopy Growth Corp. while a total of 17 pot brands can’t command 20% brand name awareness among users.

These findings confirm that buyers of cannabis products make a choice based on the price of the product or on a recommendation by a friend.

Bethany Gomez, Brightfield Group’s managing director, says that since the cannabis industry is still in its infancy, the companies selling products to consumers have not yet graduated their marketing efforts from teaching the functional issues to a level where they build connections with consumers.

To make matters worse for the legal cannabis industry, sector players have to compete with the black market which doesn’t have to abide by the strict regulations imposed by Health Canada on matters like packaging, online advertising and labeling.

Consumers are also faced with the problem of sorting through the nearly endless list of marijuana strains which they aren’t familiar with since they didn’t exist until the legal recreational market was opened about two years ago. The strains available on the illicit market are more familiar.

Serruya Private Equity Inc., which owns half a dozen cannabis stores in Toronto, revealed that the staff at their retail outlets say most customers ask about a product with the highest THC (the cannabis compound which induces a high) content rather than paying attention to brand names.

Marijuana companies have realized that they haven’t been using their marketing budgets effectively, so they are now pivoting to start building brand awareness as the market stabilizes. This is especially important now that “cannabis 2.0” products (edibles and vapes, for example) are now on the market.

This second generation of marijuana products is expected to be a big money maker for companies since margins are larger and cannabis consumers buy a lot more of these products when compared to smokable flower, for example.

The Canadian experience is likely to give U.S. cannabis sector players like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) lots of lessons in how to spend their marketing dollars.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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HempNewsBreaks – SinglePoint, Inc.’s (SING) 1601 Original Hemp Revenue Jumps 133% in Q1 2020

SinglePoint (OTCQB: SING) recently reported its quarterly financials for the period ending March 31, 2020. Among other highlights, the company’s Hemp cigarette brand, 1606 Original Hemp, experienced a sharp climb in sales, with revenues rising 133% in Q1 2020 compared to the previous quarter. (http://cnw.fm/hu4Hk). An article discussing the company reads, “SinglePoint’s hemp subsidiary enjoyed a similarly successful start to the year with the company announcing that its hemp cigarette brand, 1606 Original Hemp, had reported a sales growth rate of 133% in the first quarter relative to the previous three months, while early indications of second quarter sales suggested that revenues had risen by a remarkable 233% month-on-month in May versus April. The pre-rolled organic hemp cigarette brand was launched to much fanfare at last year’s MJBizCon Conference in Las Vegas (http://cnw.fm/R55af) and represented SinglePoint’s attempts to break into the combustible hemp segment – a sector which is currently the second fastest growing sub-category within the $4.6 billion industrial hemp market (http://cnw.fm/jtnX9).”

To view the full article, visit http://cnw.fm/63ptW

About SinglePoint, Inc.

Founded in 2011, SinglePoint, Inc. invests in and acquires brands and companies that will benefit from injection of growth capital and its sales and marketing expertise. The company’s portfolio currently includes solar, hemp and technology applications. SinglePoint is working to grow the company to a multi-national brand. For more information, visit the company’s website at www.SinglePoint.com.

NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://cnw.fm/SING

About HempWire

HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.

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CannabisNewsBreaks – Cannabis Strategic Ventures, Inc. (NUGS) Closes June with Continued Sales Momentum, Posting Second-Best Week in Its History

Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. cannabis marketplace, today announced that it closed out the month of June with continued sales momentum, posting its second-best week in Company history, with over $550,000 in sales of cannabis products (an annualized pace of better than $28 million). “It’s no surprise that we keep setting or closing in on new record sales numbers for days, weeks, months,” Simon Yu, CEO of Cannabis Strategic Ventures, said in the news release. “It’s hard to imagine that we won’t see this continue in July, August and beyond. This is the product of better production practices, better products, expanded production capacity, and better positioning in our relationships with California distributors. We are very well-positioned for continued growth as we head into an exciting second half of 2020.”

To view the full press release, visit http://cnw.fm/a0UQk

About Cannabis Strategic Ventures

Cannabis Strategic Ventures Inc. (OTC: NUGS) is one of the largest publicly traded marijuana cultivators in the United States. The Company is Los Angeles-based and incubates, develops and partners with category leaders within the cannabis and ancillary sectors. The Firm’s NUGS brand experience provides operational and financial strategic partnerships and a range of essential services to emerging and existing cannabis consumer brands. For more information, visit www.CannabisStrategic.com.

NOTE TO INVESTORS: The latest news and updates relating to NUGS are available in the company’s newsroom at http://cnw.fm/NUGS

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Colorado Governor Signs Bill Allowing Expedited Pardons for Marijuana Possession Convicts

On Monday this week, Gov. Jared Polis signed a bill which will promote social equity in Colorado’s marijuana industry. Under this law, the governor will also have the power to grant pardons to people convicted for marijuana possession before legalization took place. Previously, the governor was required to consult the judge and state prosecutors involved in each case before granting a pardon.

Gov. Jared Polis (D) signed this new bill during a ceremony held at one of the minority-owned businesses in Denver.

The new law is important because it provides a state-wide definition of what business is to be regarded as a social equity marijuana applicant. The businesses that qualify will enjoy an accelerator program which had been planned before the bill was drafted. Benefiting businesses will use existing marijuana facilities to grow their own businesses.

The bill, which was sponsored by Rep. James Coleman (D), sets out two additional categories through which businesses can be eligible for the social equity license. The purpose of these extra categories is to right the wrongs committed during the enforcement of the war on drugs.

The new law states that someone can qualify as a social equity applicant if;

  • They lived in a place designated as an economically distressed community for at least 15 years which should fall between 1980 and 2010.
  • The applicant, or a member of their immediate family, has ever been convicted or even arrested for a marijuana offense.
  • The applicant’s income is less than or equal to a certain threshold which will be determined later once the program is rolled out.

The supporters of this new law say that these provisions will clear the air with respect to the requirements in different jurisdictions, such as Denver, where marijuana equity programs had been enacted.

The state Assembly hadn’t included the provision giving the governor authority to issue unilateral pardons. However, the state Senate amended the bill and included this provision. The governor is now free to begin issuing these pardons, and the pardons will come into effect after 90 days once the signature has been appended to the paperwork.

Gov. Jared Polis said during the signing ceremony that it was wrong for people with convictions for possessing amounts of marijuana which are now legal to possess and consume to continue being unable to get mortgages, apply for jobs, get loans or other forms of capital due their criminal records.

Another notable provision in this bill is that it amends the current law which barred people with marijuana convictions from applying for marijuana business licenses. Under the new law, people applying under the social equity program will be exempted from this restriction.

Industry experts say the progressive direction taken in Colorado is likely to be applauded by sector players, such as Sugarmade, Inc. (OTCQB: SGMD).

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – How Existing Laws Are Making Cannabis Research Difficult

Cornell University secured a $4 million grant from the New York State government to conduct cannabis research soon after hemp pilot programs were established under the 2014 Farm Bill. However, the challenges that these Cornell researchers are facing are typical of what other cannabis researchers are going through as explored below.

The Problematic Legal Definition of Hemp

Currently, the difference between industrial hemp and marijuana is a legal one rather than a botanical one. By law, hemp is cannabis whose THC content doesn’t exceed 0.3% while marijuana is cannabis whose THC content is more than 0.3% on a dry weight basis.

To compound matters even more for researchers, this definition was modified to include the precursors of THC, and this, in effect, means that more than 61% of all hemp plants grown can fail the federal test and must therefore be destroyed.

The CBD-THC Relationship

Matters don’t get any easier for researchers when you consider the relationship between THC and CBD in plants. These two cannabinoids occur in fixed ratios, such as 20:1 for hemp varieties that yield a high CBD content.

Since an increase in CBD content comes with an even higher level of THC, researchers find it difficult to work with hemp varieties that can produce a CBD concentration that is higher than 6% since this would result in the plants having THC levels which exceed the federal limit for hemp. Unfortunately, breeders haven’t been able to find a way around this barrier.

Challenges in Developing New Breeds

Plant breeders require access to a wide variety of plant resources in order to come up with desired varieties of a given plant. For example, breeders can consider as many of the existing varieties of hemp and marijuana in order to select the most desirable attributes or genes from each, and then use that collection to develop a superior variety.

However, the existing federal laws bar these plant breeders from using genetic material from some cannabis varieties which yield high levels of THC. This has the knock-on effect of limiting the ease with which breeders can innovate and bring to market new viable varieties.

The Cornell University researchers, along with researchers elsewhere, hope that lawmakers can tweak the regulations governing the research community so that the researchers can have some leeway to work with cannabis varieties which yield a high THC content as long as the objective is to develop hemp varieties which are compliant with the federal restrictions.

Unfortunately for these researchers, only Congress can change the 0.3% THC limit for hemp, so their only hope for now is that state legislators can pass state-level laws tweaking the requirements for the research community. Analysts agree that entities like Pure Extracts Corp. will be waiting to see what changes the USDA makes to its interim final rule on hemp once they review the comments submitted by stakeholders.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – Sugarmade, Inc.’s (SGMD) BudCars Achieves Another Breakout Month With Record Growth in Every Metric

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today provided current and prospective shareholders with BudCars performance data for the month of June. According to the update, BudCars achieved total sales of $502,903 in June, representing 36% sequential monthly top-line growth, with total sales and profits now growing by more than 30% m/m for the third consecutive month. “June was another breakout month for BudCars growth across basically every single metric important to gauging our progress,” Jimmy Chan, CEO of Sugarmade, stated in the news release. “Our pricing improved. Our average order improved. We did more business with more people and booked a significant jump in gross profits while holding our 47% gross margin level as volume increased. We look forward to continued breakout growth in July.”

To view the full press release, visit http://cnw.fm/8ScL4

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Its Brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, please reference www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SUGAR

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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CannabisNewsBreaks – Marijuana Company of America, Inc. (MCOA) Appoints Current Board Member as EVP of Mergers and Acquisitions

Marijuana Company of America (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced the appointment of Themistocles (Tim) Psomiadis as Executive Vice President of Mergers and Acquisitions. A member of MCOA’s Board of Directors since February 28, 2020, Psomiadis will be instrumental in the implementation of the Company’s strategy of accelerating growth through key acquisitions. “The addition of Tim to our group, as both member of the board and Executive Vice President of Mergers of Acquisitions is a true game changer for our Company,” MCOA CEO Jesus Quintero stated in the news release. “He brings a wealth of knowledge and expertise that is invaluable to MCOA. Tim is very well connected and respected in the industry and working together with Marco, he will help us launch this endeavor.”

To view the full press release, visit http://cnw.fm/P73Gj

About Marijuana Company of America Inc.

MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART(TM), which targets general health and well-being; (2) an affiliate marketing and retail sales program to promote and sell its legal hemp-based consumer products containing CBD; (3) joint ventures and acquisitions of business entities engaged in the growth and sale of hemp and cannabis products in jurisdictions where cultivation is legal; and (4) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop. For more information, visit www.MarijuanaCompanyofAmerica.com.

NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Why 9 in 10 NY College Students Support Marijuana Legalization

A survey done among college students shows that more than 90% of them support the legalization of marijuana in New York State where the laws are in so much flux that one can’t tell which direction cannabis policy will take in a few weeks or months.

The survey involved more than 250 college students in the state. While it can be regarded as an unscientific survey due to its sampling method which encouraged respondents to pass on the questionnaire to their friends and associates (a snowball way of getting survey respondents), the findings are nevertheless reflective of the general sentiments of this demographic.

The survey, conducted by NewsHouse, confirmed that lots of students consume recreational marijuana on the sly, and many more have used cannabidiol (“CBD”) products at least once on their college campuses.

The students revealed that their primary reason for switching to recreational marijuana as their drug of choice is that its effects weren’t as bad as what they suffered after a night out taking alcohol.

Many of the students also said that they are interested in enrolling for courses on marijuana, and this isn’t surprising because many Empire State universities and colleges have seen the keen interest in such courses and therefore started offering them to interested students.

The divide between the college students and their parents was also highlighted during the survey. Many students intimated that they hid their recreational use of marijuana from their parents because the parents believed that once their kids smoked a single joint, the children would start down a slippery road to harder substances. To avoid arguments on the subject, the college students opted to keep their habit on the down low.

During his State of the State address delivered in January, Gov. Cuomo renewed calls for recreational marijuana to be legalized in New York State. His statements drew attention to the often polarized debate on marijuana which stalled last year and was due to resume this year but the COVID-19 outbreak changed the legislative priorities of the state lawmakers. At the end of last year, there was consensus that recreational marijuana should be decriminalized rather than going for full legalization.

New Yorkers now have to sit out another year before seeing recreational marijuana permitted in the state. If the college student survey results are anything to go by, analysts believe that the hopes of the entire cannabis industry, including players like SinglePoint, Inc. (OTCQB: SING), to see marijuana legalized from coast to coast will slowly be realized.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Why NJ Medical Cannabis is Slated to Get a Lot Cheaper

On July 1, New Jersey is slated to reduce the sales tax on medical marijuana from 6.625% to 4%. This move is the first in a series of measures that will see state sales taxes removed entirely within a space of three years. On July 1 next year, the tax will reduce to 2% and the following year (July 1, 2022) will see the reduction to a 0% state sales tax.

However, the sales tax reforms which roll out tomorrow don’t mean that buyers of medical marijuana will not pay any taxes on their purchases. Municipalities within New Jersey are still allowed to impose a 2% sales tax within their jurisdictions, but so far, no town has invoked this provision to levy the tax.

The plan to phase out sales taxes on medical marijuana were part of the Jake Honig Compassionate Use Act enacted into law last year. The bill was named after Jake Honig, a 7-year old kid from Howell who had an inoperable tumor in the brain. Only medical marijuana gave him any relief until he passed in 2018.

Activists raised an uproar about the sales taxes imposed by the state on medical marijuana. This outcry was prompted by the fact that prescription medications are exempted from state sales tax. The activists therefore wanted medical marijuana to be regarded in the same way since it is a prescription medicine in New Jersey.

While the bill was being debated in the state legislature, several lawmakers called the sales tax “criminal” since working class and poor families would suffer an added burden while acquiring the medicine they need.

Currently, more than 77,000 people are registered on the state’s medical marijuana program. However, supply chain problems and the resulting prohibitive prices (medical marijuana can cost approximately $500 an ounce) have plagued the progress of the sector.

As the tax cuts kick in, an ounce of medical marijuana will drop to about $469.15. This will bring some relief to patients, and as the supply issues are sorted, prices could drop even further.

At the moment, only nine clinics are open to sell medical pot to patients across the state. Other locations that were pre-approved haven’t opened their doors to customers due to ongoing legal battles.

In November, New Jersey voters are slated to vote on a ballot measure that could see recreational marijuana legalized. If the bill passes, dispensaries will be allowed to sell recreational marijuana to adults who are 21 or older.

The reduction of the state sales tax on medical marijuana is likely to be welcomed by the entire industry, including Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) since it makes products more affordable for patients.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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HempNewsBreaks – Cannabis Global, Inc. (MCTC) Launches Newest Line of Branded Products – “Hemp & Booch” Super Premium Kombucha

Cannabis Global (OTC: MCTC), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, today announced the launch of its newest line of branded products, Hemp & Booch Super Premium hemp-infused Kombucha. A revolution in the Kombucha beverage market, the product line is based on the finest ingredients available and powered by the Company’s Hemp You Can Feel(TM) infusions. “Hemp & Booch not only sets the standard for taste and purity, but also for the relaxing effect provided by the Company’s patent pending Hemp You Can Feel(TM) infusions,” Arman Tabatabaei, Cannabis Global CEO, stated in the news release. “Our new line is based on the best all-natural ingredients available, and we believe this comes across in the taste of the products, which are now available in sample quantities.”

To view the full press release, visit http://cnw.fm/JdRW2

About Cannabis Global, Inc.

Cannabis Global, Inc., formerly known as MCTC Holdings, Inc., is a fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading with the stock symbol MCTC.  The Company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. The Company does not engage in the production, distribution, or sales of any controlled substances, including marijuana. The Company has an actively growing portfolio of intellectual property having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The Company markets its consumer products under the Hemp You Can Feel brand name. Cannabis Global launched its Project Varin early in 2020, to develop new delivery methods for rare cannabinoid Tetrahydrocannabivarin (“THC-V”) and to develop products based on this cannabinoid. For more information, visit the Company’s website at www.CannabisGlobalInc.com.

NOTE TO INVESTORS: The latest news and updates relating to MCTC are available in the company’s newsroom at http://cnw.fm/MCTC

About HempWire

HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.

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HempWire (HW)
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