Author: CannabisNewsWire (CNW)

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. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsBreaks – Why Prime Harvest Inc. Is ‘One to Watch’

Prime Harvest, a technology-focused, full-service cannabis company led by a team of true experts in their respective fields, is committed to setting a new operational standard emphasizing accountability, sustainability and community. With horizontally diversified operations spanning multiple segments of the cannabis value chain, including licensing acquisition, compliance management and direct-to-consumer operations, Prime Harvest is leveraging a long-term strategy of investing in the growth and scale of licensed assets anchored by the power of data-driven technology to expand its footprint throughout California. “Jaxx Cannabis is the flagship brand in Prime Harvest’s portfolio. Through Jaxx Cannabis, the company aims to use technology to facilitate a true customer-centric culture while enhancing the overall craft cannabis experience… Key values serving as the foundation of Jaxx Cannabis include: creating and nurturing a welcoming culture for all; unlocking the true potential of customer value; being innovative in uncovering new ways to grow both the company and the industry; meeting the wants and needs of consumers to promote profitability; and remaining accountable for the results of its operations. It is these values that differentiate Prime Harvest and Jaxx cannabis in the California cannabis sector,” a recent article reads. “Prime Harvest works diligently to establish strong alliances with complementary brands that are in alignment with its culture and values… These partnerships enhance Prime Harvest’s efforts to transform the world’s cannabis access and bring its consumers high-quality products that are fair for both people and the planet.”

To view the full article, visit https://cnw.fm/XhlFw

About Prime Harvest Inc.

Prime Harvest is a technology-focused full-service cannabis corporation. The company is horizontally diversified across various segments of the cannabis value chain including licensing acquisition and compliance management, state-wide delivery, and direct-to-consumer operations. Based in the innovation hotspot of San Diego, California, Prime Harvest is expanding its footprint throughout the Golden State by executing a long-term strategy of investing in the growth and scale of licensed assets anchored by the power of data-driven technology. Prime Harvest’s flagship retail brand, Jaxx Cannabis, upholds exceptional standards of quality and services and provides a rewarding experience for customers in San Diego and the surrounding Southern California communities. Trust and credibility are at the heart of everything that the team at Prime Harvest stands for. The Prime Harvest team is composed of true experts in their respective fields, carefully assembled with the aim of building a world-class organization that can drive the cannabis industry and movement forward. For more information about the company, visit www.PrimeHarvestInc.com.

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

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.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Sugarmade Inc. (SGMD) Establishes Pattern of Growth, Expansion in California Cannabis Space

  • More than a dozen California cities are opening new recreational cannabis licensing opportunities this year, article reports
  • SGMD has established a pattern of growth through the years, investing in a number of subsidiaries with active operations in the California cannabis sector
  • Company also completed the acquisition of Lemon Glow and its assets, interests, property and rights

The cannabis space appears set for growth in California, according to an MJBizDaily report (https://cnw.fm/aDsO8). The potential growth bodes well for Sugarmade (OTC: SGMD), an emerging leader in the sector that is 

“More than a dozen California cities are opening new recreational cannabis licensing opportunities this year, either by embracing the legal marijuana industry for the first time or by increasing the number of available business permits,” the MJBizDaily article reported. “Several other cities, meanwhile, are laying the groundwork for new markets down the road by drafting and/or developing cannabis ordinances. The rollout of new adult-use markets and business opportunities come as cities across the state are eager to bring in additional tax revenue after the pandemic and other factors depleted public coffers.

“The ongoing shift is a welcome sign for the state’s struggling marijuana sector, which remains forbidden in the vast majority of California cities and, at the same time, must compete against a thriving illicit market,” the article continued. “The retail expansion is far and wide, from urban centers in San Diego and San Jose to small towns such as Madera in the Central Valley and Oxnard along the southern California coast.”

Sugarmade is working to position itself establish in the growing California cannabis delivery marketplace. The company has established a pattern of growth through the years, investing in a number of subsidiaries with active operations in the California cannabis sector. The company’s portfolio brands include Nug Avenue, SugarRush and Lemon Glow.

Sugarmade owns a 70% stake in NUG Avenue, a cannabis delivery service based in southern California. The service offers hand-selected, top-shelf products from Stiiizy, Kanha, PlugPlay, BigChief and others. The cannabis delivery service that covers same-day service of a variety of products, including flower, pre-rolls, vapes, extracts, edibles, concentrates and capsules. The service covers delivery in Los Angeles County, Orange County, San Bernardino County and Riverside County. 

In addition, last year Sugarmade completed the acquisition of Lemon Glow and its assets, interests, property and rights (https://cnw.fm/rjynv). “We are setting the stage to improve margins while expanding end-market access, and to grow, refine, produce, distribute in the largest and fastest-growing cannabis market on the planet,” said Sugarmade CEO Jimmy Chan. The acquisition was designed to position the company to achieve that objective with a significant capacity to scale as demand for California-grown cannabis is expected to grow when federal legalization takes place.

Sugarmade believes these significant changes in the marketplace create an opportunity to invoke a new short-term strategy while the company’s long-term plans to cultivate at its new Lemon Glow facility are developing. In May of last year, Sugarmade closed on the acquisition of Lemon Glow Company and announced plans to acquire the necessary approvals and permits to cultivate up to 32 acres of the 640-acre property. Sugarmade is also working to obtain a conditional use permit number from the community development department of the county of Lake, California, which the company believes is an important step toward gaining the full conditional use permit that will allow cannabis cultivation on the property.

In addition, for the 2022 cannabis cultivation season, Sugarmade is embarking on a new and bold strategy to enter into contract cultivation arrangements with local Lake County, California, cultivators that have decided not to engage in their own cultivation efforts this year. These operators have already made significant investments in infrastructure and have highly specialized personnel available that SGMD can utilize on a contract basis for production of cannabis.

The company observed that, by contracting with the owners of these already available resources, it will gain immediate access to the marketplace based on an advantageous cost model that will place the company on par or, in some cases, at a superior cost position, when compared to many of the larger cannabis cultivation and distribution companies in the industry. 

Sugarmade officials are in negotiations with several local permitted and licensed operators that are agreeable to a partnership arrangement with Sugarmade to manage operations for cannabis cultivation. Officials are also in active negotiations on the distribution side of the business that will allow Sugarmade to bring this cultivated cannabis to the marketplace. 

Invoking this dynamic short-term strategy, while continuing to develop the company’s longer-term strategy to fully develop the large Lemon Glow property for cultivation, will allow Sugarmade to significantly advance the timeframe for gaining market share in this industry based on a cost model that will allow the company to produce strong margins this cultivation season.

For more information, visit the company’s website at 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/SGMD

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Tips to Help You Get Your Cannabis Firm Ready for Sale

As hopes rise that the United States could soon legalize marijuana federally, many cannabis business owners are dreaming of the upcoming M&A frenzy that could provide a profitable way out of the startups they have founded. However, experts point out that only those marijuana companies that were properly prepared for eventual sale will attract the best deals.

We discuss below some tips that can help a cannabis company prepare itself for sale.

Mind your people, papers and profits

To prepare your cannabis business for sale, pay close attention to the employees at the firm. Most people looking to buy a company aren’t interested in running the business themselves, so a big plus is to have a top-notch management team that will steer the company once it changes ownership.

The paperwork of the company, especially on matters of compliance, is important too. Cannabis laws vary from one jurisdiction to another, and there are federal laws to contend with as well. Ensuring that papers are in order will be beneficial to the valuation of the company and attract better deals.

Profits, or a path to profitability, is key in M&A discussions. For example, if your business is the runaway market leader in your state, potential buyers, especially those struggling to get a significant share of the market, may jump the chance to do business with a company that is struggling to capture a significant share of the market.

Hire the right accountant

Your best bet in preparing your cannabis business for sale is to hire an accountant who has impressive experience working with marijuana companies in your state or jurisdiction. Such an accountant will be familiar with all the applicable tax and business laws. They will also keep you abreast each time a change is made to any existing marijuana laws. In this way, you will avoid the unpleasant surprise of having a major loophole uncovered by the team of a potential buyer as they scrutinize your paperwork.

Take your time

Don’t call an attorney and accountant to get your company ready for sale in a few weeks; nothing good will come of such rushed efforts. Instead, start preparing early, even before interest in purchasing your business has been shown.

About half a year is a good estimate of how much time is needed to prepare a cannabis business for sale. During this time, every aspect of the business will be analyzed and put in place so that potential buyers will not have anything to jump on and drive the valuation down.

It isn’t uncommon to find leading industry companies such as Flora Growth Corp. (NASDAQ: FLGC) with growth strategies that include mergers and acquisitions among the options to consider. Cannabis startups need to think with an exit point mentality in mind, so that when a buyer comes knocking, they are ready to negotiate from a point of strength.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — California Cannabis Firms Sell Assets, Narrow Focus

When the recreational marijuana industry was launched in California, the trend was for every company to be vertically integrated. This meant that everything was handled in-house from cultivation and manufacturing to packing, retail sales and distribution. As the industry has matured, the shortcomings of vertical integration have become all too apparent, and companies are divesting themselves of many divisions and operations in order to focus on their key competencies.

NorCal Cannabis is one example of a marijuana company that has taken the route of shedding excess weight from its operations. In the beginning, NorCal went the vertical integration route, operating everything from cultivation facilities to retail locations and even a huge home-delivery operation.

However, the company noticed that it was bleeding money on each delivery run its vehicles made, so the logical thing for NorCal to do was to divest itself of marijuana delivery, so the company let its delivery license expire.

NorCal CEO Jigar Patel says that things have been looking up ever since the executive team made the hard decision to concentrate on cultivation as well as building the company brand. With 400 dispensaries now carrying NorCal products, the path to sustained profitability is clear and there are no regrets for concentrating on what the company does best.

Eco Farm is another cannabis company that also opted to divest itself of some of its operations. The company’s hand was somehow forced when wholesale marijuana prices in California collapsed in 2021. To survive, the company decided to let go of its cultivation-related operations so that it could focus on tech development, cannabis distribution and its online marketplace.

So far, says Danielle Dao, Eco Farm cofounder, the company has leased two of its three farms and are actively looking for a taker for the third. It wasn’t easy to make this decision, but Dao says “picking their lane” was a matter of business survival, and the company went for it.

The moves made by Eco Farm and NorCal Cannabis are by no means isolated incidents. They reflect a growing realization that long-term business success hinges on not spreading oneself too thin. Rather, a company has to identify its core competencies and concentrate on those if it is to survive the competition that is increasing every day. This is the norm in most industries, and the cannabis industry probably opted for vertical integration in order to ease the work of regulators who are charged with overseeing this industry, which is still illegal at the federal level.

But as more states establish their own marijuana markets and pressure mounts on Congress to end prohibition, it may not be long before all sector actors, including Cannabis Strategic Ventures Inc. (OTC: NUGS), choose which aspects to retain and which ones to let go of when a national market is finally opened.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Alternative Products Expo to Shine the Spotlight on Innovative Products, Services Disrupting Traditional Markets

Following numerous successful events in North America, the Alternative Products Expo is set to take place on May 21-22 at Plaza Mayor in Medellin, Colombia. Alternative Products Expo Colombia will feature 50-plus expert speakers, over 125 exhibitors and more than 1,000 of the most innovative and cutting-edge products within the alternative products space. Through keynotes, panels and workshops, industry experts will share their insights and educate attendees about the latest trends in the alternative products ecosystem. The one-of-a-kind business networking event will showcase all categories of innovative products and services currently disrupting traditional markets. The alternative products category typically includes herbals, CBD and other cannabis derivatives, vape products, cannabis accessories, hemp products, energy boosters and dietary supplements, among others. Event sponsors include some of the biggest brands in the Latin America alternative products space, including JuicyFields.io, Miami Ice / Fuggin 8, Cake, 3Chi, Trinity Hemp, LightFire, EZ Delta 8 Wholesale, and many more.

To view the full press release, visit https://cnw.fm/9vxWu

About Alternative Products Expo

Alternative Products Expo, formerly USA CBD Expo, is a production of ZJ Events. Its founders were once exhibitors who, after attending countless trade show events, saw an opportunity to build upon their experience and create an event that combined the best they had seen, with their own notion of what was missing in these business gatherings. By bringing the alternative community together, Alternative Products Expo seeks to provide industry professionals from all corners of the market with an immersive and unique opportunity for networking and business expansion. For more information, visit https://AltProExpo.com.

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.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Expands Global Footprint to Establish Presence in the UK and EU

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced expansion of its operational footprint in Europe and the United Kingdom, furthering its international growth strategy. According to the update, the London-based offices will serve as the regional headquarters for Flora’s sales force and management of its distribution centers in the U.K. and Netherlands. Flora additionally bolsters its strategic positioning in the region by partnering with Hoshi to distribute the company’s broader product portfolio to 11 countries, including Germany, Portugal, the U.K., Italy, Poland, the Czech Republic, Denmark, the Netherlands, Switzerland, Malta, and Macedonia. “Establishing our roots in the U.K. and EU will not only afford us opportunities to increase our distribution and grow market share, but it will generate actionable market insights for our team to continue to innovate and deliver the most compelling experiences we can,” said Luis Merchan, president and CEO of Flora. “The latest global expansion highlights our commitment to driving exponential growth and scale.”

To view the full press release, visit https://cnw.fm/K5Jvt

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the most extensive outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.

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

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.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

O’Cannabiz International Conference, Expo, Retail Summit, and Awards Gala, for Cannabis Industry Professionals

The O’Cannabiz International Conference & Expo is a three-day event that will be held primarily at the International Center on Airport Road in Hall #5. During the O’Cannabiz International Conference & Expo, attendees will have the opportunity to participate in various activities, including a two-day Retail Summit and the privately ticketed Awards Gala to be held at Casa Loma and hosted by Family Feud Canada host Gerry Dee on June 1.

O’Cannabiz is currently consisting of over 70 sessions with 200 speakers for 5,000 attendees being facilitated in a 100,000 square foot expo hall – with hundreds of industry networking opportunities available. The Title Sponsor for the event is ND Supplies, the official packaging partner for O’Cannabiz – with several other partners falling into categories labeled Platinum, Gold, Media, and Retail.

Some of the featured exhibitors expected on-site include:

  • ND Supplies
  • 3M
  • 420 Financial
  • AAPS
  • Blue Sky Organics
  • Brigham
  • Cannapiece
  • Detonate Cannabis Agency
  • HYDE Advisory & Investments
  • Pure Atomist
  • Tychon Packaging Inc.
  • University of Waterloo
  • Zenith Safety Products
  • and more!

The retailers attending the two-day Retail Summit are offered free admission as long as they are based in Canada and register before the event takes place. The free admission to the summit ($149 value) does not cover retailers’ VIP Business Conference, Psychedelic Summit, or Awards Dinner Gala entry – and is limited to two free passes per retail location. Retailers also have the opportunity to sign up as exhibitors.

O’Cannabiz Conference & Expo Schedule-at-a-Glance:

Day 1: 8:00 am – 8:00 pm

Registration hours and exhibitor load-in are available during all scheduled conference hours on day one. The VIP Business Conference is scheduled from 9:00 am to 4:30 pm, with a networking luncheon scheduled from noon to 1:30 pm. 

The Awards Dinner and Gala will take place at Casa Loma. They will begin with a Red Carpet Royalty Cocktail Reception promptly beginning at 6:15 pm, followed by the awards and dinner at 7:00 pm and an after party from 9:00 pm to 11:00 pm.

Day 2: 7:30 am – 6:00 pm

Registration hours for day two of the event will be from 7:30 am to 6:00 pm. An investor’s breakfast will be offered from 8:30 am until 10:00 am. The expo will run from 10:00 am until 5:00 pm with a “Meet the Exhibitor” Happy Hour immediately following from 5:00 pm to 6:00 pm.

Both the Psychedelic Summit and Retail Summit will take place in Hall A and Hall B, respectively, from 10:00 am to 4:00 pm. 

Day 3: 7:30 am – 3:00 pm

Registration hours for the final day of the summit will run from 7:30 am to 3:00 pm. A Balanced Breakfast: Bringing Diversity, Equity, and Inclusion to the Table breakfast will transpire from 8:30 am to 10:00 am. The expo will be operational from 10:00 am to 3:00 pm that day, and the retail summit will open from 10:30 am to 3:00 pm.

O’Cannabiz reminds anyone considering attending the conference and expo that cannabis (in any form) will not be available on-site, and anyone in attendance must be 19 years of age or older. 

For more information or to register for the event, visit https://ocannabiz.com/.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Schumer Has Talked to Six GOP Senators About Bill

While speaking at a marijuana parade and rally in New York City last Saturday, Senate Majority Leader Chuck Schumer revealed that he had so far talked to half a dozen Republican senators about his upcoming federal legalization bill for marijuana. The annual NYC Cannabis Parade and Rally attracted notable attendees such as Jerrold Nadler, the chair of the Judiciary Committee in the U.S. House of Representatives. Nadler’s bill seeking to end cannabis prohibition federally was approved by the full House in April.

During his speech at the rally in his home state, Schumer reassured event attendees that he was committed to seeing marijuana legalized federally. To this end, the lawmaker revealed that he had sent out invitations to every lawmaker in the upper chamber of Congress so that these individuals can discuss with him any objections they may have to his upcoming comprehensive bill aimed at ending marijuana prohibition at the federal level.

He added that so far, he had interacted with half a dozen Republicans and there was a chance that he could win over 10 of them so that his bill can get at least 60 votes on the floor, the number needed to get this legislation approved for enactment.

However, industry watchers say the majority leader actually needs to woo more than 10 Republicans if he is to stand a chance of seeing his bill succeed. This is because not all Democrats in the Senate are currently in support of his marijuana legalization bill, meaning that he has an uphill task to convince a lot more GOP legislators to support the measure and meet the 60-vote requirement for passage.

Schumer vowed that he and his coauthors of the bill, Ron Wyden and Cory Booker, would do everything necessary to get support for that bill so that it is passed as soon as possible. Referring to the rain that was falling during the NYC event, the senate majority leader said that nothing, not even the rain, could dampen the enthusiasm to see an end to the prohibition of marijuana.

The timeline of the tabling of this bill has caused some concern among activists and advocates given that the bill was initially planned for introduction in April, but Schumer later pushed it to later in the year, at least before the lawmakers enter the August recess.

The New York City event didn’t focus only on Schumer’s long-promised bill. The recent coming into effect of the law legalizing recreational marijuana in the state was also celebrated as different speakers noted how the upcoming commencement of legal sales would be a huge turning point for the people.

As more states legalize marijuana and allow licensed companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) to operate, the economic benefits, including the creation of high-paying jobs, will continue to manifest as the sector matures.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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 — Illinois Cannabis Sales Resume Upward Trajectory

The recreational marijuana market in Illinois seems to be getting over the dip it experienced at the beginning of the year, state records show. According to figures released by the Department of Financial and Professional Regulation (IDFPR), a total of $132 million was registered from the adult-use cannabis sales made during the month of April.

After enjoying strong sales toward the end of last year, there was an unexplained slump in the sales reported during January and February this year. However, the records for March and April indicate that the slump may be a thing of the past and the sector is looking up again.

According to the IDFPR, state residents bought recreational marijuana products worth nearly $91 million while adults from out of state bought products worth approximately $41 million. In all, 3,102,233 recreational marijuana products were sold to garner the $132 million in sales for the month of April. This figure only covers recreational marijuana sales since the products sold as medical marijuana products are overseen by a different state agency  which releases its own reports.

From the record-breaking $1.4 billion in sales of recreational cannabis registered last year, the state collected a little more than $100 million in marijuana tax when compared to the total taxes the state collected from the sale of alcohol. It is therefore baffling that after a year that ended so strongly, there was a dip as 2022 got underway.

It is also not yet clear why March and April registered improved month-on-month sales. Some say that the 4/20 holiday may have had something to do with the resurgence, but since this holiday happens in April, how does it explain the improved numbers in March?

That aside, the state is making good on its promise to deploy some of the monies collected as marijuana taxes in programs geared to help communities that were hard hit by the futile drug war. For example, state officials published an advert back in December revealing that $45 million was available for grants and interested applicants could start submitting their expression of interest in accessing some of these funds.

This second round of funding is in line with R3 program, which requires one-quarter of all the money collected as recreational cannabis tax be allocated to helping disadvantaged individuals and communities through the provision of youth development, legal aid and actual financial support as well as community reentry.

In addition to this funding, Gov. Jay Robert (JB) Pritzker announced in 2020 that more than one-half a million pardons and expungements related to minor cannabis offenses had been handled and concluded by his office.

Such positive strides recorded in states with legal marijuana markets and licensed actors such as American Cannabis Partners make a strong case for pursuing legalization at the federal level so that these benefits can be replicated throughout the country.

NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://cnw.fm/ACP

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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For more information please visit https://www.CNW420.com

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CannabisNewsBreaks – CWCBExpo New York’s ‘In Conversation With’ Series to Feature Prolific Industry Leaders

Two prolific leaders in the cannabis and hemp industry, Chris Beals and Nick Kovacevich, will be featured speakers in the “In Conversation with…” series at CWCBExpo New York. The event is slated to take place June 2-4 at the Javits Center. The East Coast’s top B2B trade show and conference, CWCBExpo brings together some of the most influential and informed minds in the industry to discuss the latest in the areas of adult use legalization and legislation and its impact on businesses, communities and lifestyle.

“I am thrilled to sit down with Mona at this year’s CWCBExpo New York to talk about the work we’re doing at Weedmaps to help move the industry forward,” said Chris Beals, CEO of WM Technology, operator of Weedmaps. “It will be exciting to see everyone in person again as we collectively reflect on the progress made to date, and discuss what’s still needed to ensure a transparent, equitable cannabis industry becomes a reality.”

“I am really looking forward to attending CWCBExpo this year, such a storied event in our industry,” added Nick Kovacevich, CEO, Greenlane Holdings. “I’m super excited to be back in person, too, and at the epicenter of New York City right after statewide legalization!”

To view the full press release, visit https://cnw.fm/MMRaB

About Cannabis World Congress & Business Exposition (“CWCBExpo”)

CWCBExpo is a business-to-business trade show event for the legalized cannabis and hemp industry. It is held in the largest business, financial and media markets. It is the leading forum for dispensary owners, growers, suppliers, investors, medical professionals, government regulators, legal counsel, and entrepreneurs looking to achieve business success and identify new areas of growth in this dynamic and fast-growing industry. For additional information, visit www.CWCBExpo.com.

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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