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

The Southeastern Hemp & Medical Cannabis Convention by Organa Kannalytics LLC, Driving Forward The Medical Cannabis and Hemp Industry

The Southeastern Hemp & Medical Cannabis Convention (“SHMC”) is being held as a live event on May 12-14, 2022, at the Cobb Galleria Centre, Two Galleria Parkway, Atlanta, Georgia. Cannabis and hemp businesses, researchers, cultivators, medical practitioners, legislators, and enthusiasts are invited to attend the industry’s leading convention that explores all the aspects of the cannabis and hemp industry. 

Attendees can leverage the huge networking opportunities and connect with potential clients, experts, and investors at the SHMC event. The event will include industry leaders and enthusiasts who will impart their in-depth knowledge and expertise about cannabis trading, research, medicinal uses, and legislative laws relevant to the cannabis industry.

Through the medicinal advancements, business opportunities, or the many developments happening in scientific research, these enjoyable learning sessions are designed to impart important information regarding the cannabis industry. Speakers will also talk about the local, state, and national laws impacting cannabis cultivation, trade and research.

As the cannabis trade becomes more acceptable and widespread, it is important to increase awareness about the medical cannabis and hemp industry. The SHMC Convention offers the optimum avenue to learn and understand the latest technologies and trends of the cannabis world. The title sponsor of SHMC is Lux Diagnostics, a state-of-the-art medical laboratory located in Atlanta, GA. The lab, engaged in testing Hemp and Cannabis testing, caters to the U.S market.

The established attendee demographics at the event is as follows:

  • Retail business owners-28%
  • Entrepreneurs-21%
  • Suppliers/Distributers-18%
  • Scientific Professionals-17%
  • Consumers -11%
  • Farmers-5%

Sponsors, new businesses, and vendors are invited to showcase their technology, services, and solutions for better market visibility, and interested candidates from all across the globe can join in the virtual portal to the event. All health and safety protocols will be followed at the physical SHMC Convention.

For new businesses interested in learning more about the cannabis industry, or veterans striving to take their business to the next level, this conference offers a plethora of opportunities to cannabis enthusiasts, and the breakthrough that businesses and medical cannabis industries seek to connect with industry influencers in the Southeastern region.

Participants can attend workshops to understand the complexities, challenges, and processes involved in cannabis cultivation, manufacturing, retail sales, and medicinal aspects of cannabis. A pre-certification course to evaluate the factors that influence the quality of Cannabis products also is available an hour before the actual event commences.

To learn more, please visit https://www.organakannalytics.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 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

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Advanced Container Technologies Inc.’s (ACTX) Grow Pods Offer Attractive Investment Option for Entry into Indoor Farming

  • Modular indoor farming is expected to grow to $9.7 billion worldwide by 2026
  • The “Times” reports that controlled-environment agriculture, including indoor farms, is attracting venture capitalists
  • ACT’s Grow Pods are essentially micro-farms that can be placed anywhere and allow cultivation 365 days a year

Modular indoor farms are expanding as the demand for year-round produce steadily increases, reports the “New York Times” last week (https://cnw.fm/0zpqd). That upward swing is not news to Advanced Container Technologies (OTC: ACTX), a savvy company that has been pioneering the idea through the distribution of self-contained, automated, indoor micro-farms called Grow Pods.

“Vertical farming is expected to grow to $9.7 billion worldwide by 2026, from $3.1 billion in 2021, according to ResearchAndMarkets.com, a data analysis firm,” states the “Times.” The article went on to report that a recently constructed 95,000-square-foot warehouse in Compton, California, “ticks off all the boxes for ideal storage,” including 32-foot-high ceilings, a secure truck court and access to truck routes. “But it won’t be used for cargo or storage,” the article noted. Instead, the huge warehouse is an indoor vertical farm, expected to open later this year.

“At a time when supply chain disruptions continue to slow distribution, consumers embrace healthy eating habits and climate change is expected to affect crop yields, a practice known as controlled-environment agriculture, including indoor vertical farms relying on artificial light and technology, is attracting venture capitalists,” the article continued. “Pitchbook, a financial data and software company in Seattle, tracked 33 deals worth nearly $960 million in 2021, up from $865 million the year before and $484 million in 2019.”

Few companies are more ideally suited for success in this growing space than Advanced Container Technologies. The company is the sole distributor of Grow Pods, which are advanced, self-contained hydroponic containers manufactured by GP Solutions Inc. (https://cnw.fm/NZPMi). “These innovative automated systems are essentially micro-farms that can be placed virtually anywhere and, with their controlled and specially filtered environment, allow cultivation of a wide variety of crops, 365 days a year,” states the company.

The controlled environment of a Grow Pod offers major advantages for companies looking to produce high-value crops, including the ability to grow produce year-round and the ability to cultivate in a smaller footprint using less water and power. “Grow Pods offer constant temperature, humidity and airflow control, as well as automated watering and lighting schedules for optimal growth and minimal labor requirements, regardless of crop,” says ACT.

Advanced Container Technologies is in the business of selling and distributing Grow Pods, along with related equipment and supplies. Additionally, the company designs and sells patented, proprietary medical-grade plastic containers, known as the Medtainer(R), that store and grind pharmaceuticals, herbs, teas and other solids or liquids. 

For more information, visit the company’s website at www.AdvancedContainerTechnologies.com.

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

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 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

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420 with CNW — Report Finds That Recreational Cannabis Generated More Than $3.7B in Tax Revenue

A recent report shows that last year states which had legalized cannabis for adult-use cumulatively raked in more than $3.7 billion in tax revenue from recreational marijuana sales. This report follows up on an analysis the Marijuana Policy Project released at the start of this year, which examined the total adult-use marijuana tax revenue collected by all the states that have legalized cannabis since recreational sales began in Washington State and Colorado. The organization stated that the total tax revenue generated since recreational sales began in 2014 until March of this year was about $11.2 billion.

Toi Hutchinson, CEO and president of the Marijuana Policy Project, stated that this report offered further evidence that ending marijuana prohibition provided substantial benefits for state governments. In a press release, Hutchinson explained that the regulation and legalization of marijuana for adults had generated billions in revenue, created thousands of employment opportunities in the country and helped fund important programs and services at the state level.

The total the organization arrived at doesn’t include corporate taxes paid to the federal government, income taxes generated by workers in the marijuana industry, licensing and application fees paid by cannabis businesses or tax revenue generated by medical marijuana. This means that the overall impact of legalization on government coffers is even higher than the billions of dollars generated by recreational sales.

The report also highlighted the ways in which states were distributing marijuana revenue for different initiatives and programs, including reinvesting the revenue into communities that were most impacted by the drug’s criminalization. For instance, officials in the state of Michigan announced in March that they would be allocating about $150 million in cannabis tax revenue to a transportation fund, public schools and various localities.

The state of Illinois also pledged to allocate a portion of its tax revenues to mental health services and organizations that develop programs benefiting disadvantaged communities. Last year, officials in the state allocated $3.5 million to efforts to decrease violence through street intervention programs.

In Colorado, almost $500 million in marijuana-generated funds has been directed toward the public school system thus far. States are also collecting more tax revenue from cannabis than alcohol, with Illinois’ latest figures showing that the state collected nearly $100 million more from adult-use cannabis than alcohol.

The state of Massachusetts also took in more tax revenue from cannabis than alcohol last year, with December figures showing that it collected more than $74 million from cannabis taxes and about $52 million from alcohol taxes.

These trends in the tax revenue generated from recreational marijuana sales suggest that adults are to a large extent happy with the products on offer by companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) in states that have enacted enabling marijuana laws, hence the increasing expenditure on those products.

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

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420 with CNW — Four Factors Marijuana Companies Can Leverage to Tap the Low-Sugar Craze

The cannabis edibles segment has slowly been gaining popularity over the years, eventually generating $1.28 billion in sales in 2021. Cannabis companies have done this by incorporating cannabinoids such as THC and CBD into a wide variety of foodstuffs. However, one segment marijuana companies have had trouble breaking into is sugar-free foods.

As people become more aware of the long-term effects of heavy sugar consumption, a growing percentage of the population is being drawn towards low-sugar alternatives. But with cannabis slowly shedding the “stoner” image and becoming more of a wellness product, TribeTokes CEO Degelis Tufts Pilla says cannabis companies can take advantage of this growing segment.

Evaluating forms and inputs should be the first step. This will essentially involve identifying all the problems you need to solve to successfully create a sugar-free alternative. It is impossible to simply replace high-fructose corn syrup or sugar with a sugar-free sweetener, for instance. Hard candies will require a sugar-free alternative that can also crystallize while giving the substance the right texture. Furthermore, cannabis companies will also have to find a way to cover up the notoriously bitter taste of THC and CBD.

Find natural solutions. It makes sense to use natural options if you’re making sugar-free alternatives. Powders and concentrates made from naturally sweet vegetables and fruits such as berries and sweet potatoes can be quite useful, for instance. A zero-calorie sweetener dubbed “monk fruit” is 100 times sweeter than regular table sugar while date paste, which is regularly used in the Middle East, is gaining popularity in the West.

Costs and supply. Manufacturing sugar-free alternatives can cost significantly more. Furthermore, the supply chain has yet to recover from the disruption caused by covid, leading to higher prices along the supply chain. Dean Hathaway, a senior scientist in R&D at Ripple Brands, says the demand for ingredients is super high as they are typically used in traditional foods. Figuring out a way to keep your costs low without compromising supply will ensure profitability.

Market Your Product. Getting word out about your sugar-free, cannabis-infused products is crucial. Talk about the sugar-free aspect and the health benefits that come with it. According to David Catanzano, head of cannabis operations at Tilt Holdings, consider store promotions and other types of advertising. With the cannabis industry filled with plenty of sellers looking to make a killing, marketing is “everything,” Catanzano says.

As the product offerings of entities such as Flora Growth Corp. (NASDAQ: FLGC) continue evolving, there is likely to be no limit to the applications to which marijuana and its different compounds will be put.

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

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CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – American Cannabis Partners Buoyed by Positive Look-Ahead Market Evaluations

American Cannabis Partners (“ACP”) is expected to see increasing opportunities to market its products as the cannabis landscape continues to shift, with growing numbers of states allowing some form of the substance and federal legislation examining changes in legal status. A recent article, which contains excerpts from a Hemp Industry Daily (“HID”) piece that looked at cannabis marketing trends for this year, documents that while Google is cracking down on advertising cannabis, other platforms like Twitter, Reddit and Quora are opening up. The article reads: “‘Of all the social media platforms, we have our eyes set on streaming platforms like Discord and Twitch in 2022. In a recent study by the Brightfield Group, up to 54% of video gamers consume cannabis while gaming.’ The [HID] article observed that Twitch has already begun to see growth as it allows cannabis-related content as long as the substance is legal in the state or country from which the stream originates, and the message doesn’t attempt to sell cannabis. ‘With 140 million active users, we wouldn’t be surprised to see more cannabis brands partner with Twitch streamers,’ the article stated. These look-ahead evaluations are helpful for American Cannabis Partners, which is a fully licensed, large-scale, 100% organic cannabis cultivation company.”

To view the full article, visit https://cnw.fm/Dzof2

About American Cannabis Partners

American Cannabis Partners is a fully licensed, large scale and 100% organic cannabis cultivation company nationally headquartered in Trinity County of the Emerald Triangle. Guided by business professionals and cultivators, the company focuses on four industry segments: real estate, cultivation, medical research, and nonprofit groups. For both medical and recreational, American Cannabis Partners supplies multiple forms of raw product at wholesale prices for manufacturing, distribution and retail licenses. Its commodity pricing model enables stable profit margins for customers, aiding the company’s expansion into multiple states. For more information, visit the company’s website at www.ACPFarms.com.

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 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)
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Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

O’Cannabiz Conference Expo & Awards Offering A Confluence Of Cannabis Industries

Cannabis enthusiasts, traders, cultivators and allied industries are invited to attend the O’Cannabis Expo & Awards from June 1-3, 2022 In Toronto, Canada. After the last year’s rescheduling, the O’Cannabis Conference is back this year for a physical 3-day event. The team is grateful to the exhibitors, sponsors, partners as well as pre-purchased ticket holders for their patience and trust. The event venue is the International Centre Hall #5, Toronto, Canada, a hub of business and consumer exhibitions in Canada.  

O’Cannabiz is a leading company engaged in organizing national high-profile events, to foster global connections between business houses and the trading community of the arts, broadcasting, media and technology niche. They bring in years of experience in organizing top-notch trade summit initiatives with governments worldwide and have the experience of working with sponsors at all levels of the Canadian government.

The event venue is an expansive 50,000 sq. ft hall that will witness 3500+ attendees networking in 70+ high-intensity sessions, with 180+ eminent industry speakers sharing their insights on cannabis extraction, trading, laws and regulations, and compliance in Canada. 

They will present their views and share strategies that will pave way for the future of the cannabis business and trading. These thought leaders will also discuss a wide spectrum of topics ranging from cultivation, marketing, branding, retail, policy and regulations, finance, as well as the future of cannabis and how that impacts all sectors of the cannabis business. Distinguished companies and giant business houses are sponsors of the event and exhibitors will set up booths to display their line of products and services. 

The O’Canna Retail Expo & Summit, a subset of the O’Cannabis Conference, will witness some of the best retail experts who will discuss the best practices, customer service, merchandising, digital marketing, and essential business and technology needs in a 360-degree approach to retail. 

The event will also host an award show to facilitate the contribution of dignitaries and cannabis professionals for their contribution to the cannabis industry, hosted by Gerry Dee, Host of Family Feud Canada and star of the award-winning sitcom, Mr D. The 3-day event includes a VIP Business Conference, Psychedelic Summit and an O’Cannabiz Awards Dinner Gala among other high profile events. Attendees can network and connect with influential industry veterans and learn the latest industry trends in cannabis cultivation, extraction, retail and trading.

For more details, please 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 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

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Thailand Foresees High-End Marijuana Tourism as Legalization Looms

As territories around the world legalize cannabis, a new segment dubbed “cannabis tourism” has emerged. Folks from countries and states that haven’t legalized cannabis travel to regions that have legal cannabis, bringing in millions of dollars in cannabis purchases. For example, in 2016, the Colorado Department of Revenue reported that around 6.5 million cannabis tourists had traveled to the state to purchase and consume marijuana.

Thailand, which is one of the strictest countries in the world in terms of drug offenses, may soon be benefitting from cannabis tourism as well. The country’s narcotics board recently announced plans to delist cannabis with less than 0.2% tetrahydrocannabinol (THC), the chemical in marijuana that gives users the controversial plant’s characteristic “high.”

In a newsletter discussing marijuana in Thailand, Carl K. Linn says cannabis would “integrate beautifully” with the culture of retreat and wellness that attracts tourists to Thailand. Despite having extremely strict drug laws and with cannabis offenses having a potential jail sentence of 15 years, Thailand was the first country in southeast Asia to allow medical cannabis back in 2018.

According to public health minister Anutin Charnvirakul, people will be allowed to cultivate cannabis plants at home after informing their local government once the delisting comes into effect. This typically happens 120 days after a law is published on the Royal Thai Government Gazette website. Citizens will also be allowed to seek commercial cannabis licenses if they wish to sell cannabis.

Parliament is currently considering a draft hemp and cannabis bill that would govern the cultivation, sale and consumption of recreational cannabis. Thailand envisions a high-end cannabis tourism industry that attracts “Silicon Valley types” traveling on corporate gigs rather than creating a “stoner paradise.” The southeast Asian country already has spas, restaurants and cafes that offer CBD (cannabidiol)-infused products. Unlike THC, cannabidiol does not intoxicate users.

Delisting cannabis could significantly open up Thailand’s fledgling cannabis industry by allowing the production and sale of other parts of the plant. The executive director of the country’s International Sustainable Development Studies Institute, Mark Ritchie, says that removing cannabis from the list of narcotic drugs could also be instrumental in boosting the rural economy.

Thai authorities are tentatively toying with an idea dubbed a “cannabis sandbox” that would allow public consumption of cannabis. Tourists would be provided with designated areas where they would be able to use cannabis recreationally. Marijuana research company Prohibition Partners estimates that Thailand’s recreational cannabis market will be worth $424 million by 2024.

If only the U.S. federal government would be as progressive as Thailand is being on matters of marijuana, cannabis companies such as American Cannabis Partners would have a massive market to serve domestically and the need to enter foreign markets wouldn’t occur until the local market has been saturated.

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.

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

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420 with CNW — Illinois Officials Say Cannabis Sales Recovered to $131 Million in March

A report released earlier this week by the Department of Financial and Professional Regulation in the state of Illinois shows that the state recorded about $131 million in legal recreational marijuana purchases in March.

The state broke its annual record for marijuana sales last year, with more than $1.4 billion in cannabis being sold. However, cannabis product purchases reduced during the first two months of this year.

This new figure makes this the state’s second-highest recorded sales for adult-use cannabis since the industry’s opening in 2020. In the report, the department stated that last month, about $90.3 million in adult-use marijuana sales was generated from consumers who are also residents in the state, with roughly $40.7 million coming from nonresidents.  It should be noted that these totals don’t include the sale of medical marijuana products because they are reported by another state agency.

State data shows that last year, Illinois generated roughly $100 million more in tax revenue from the sale of adult-use cannabis than it did from alcohol. The state is using a portion of this revenue to fund equity initiatives in the state. For instance, officials announced last year that applications for new grants, which would be funded by marijuana tax revenue, were open. These grants will support programs to reinvest in the communities that were disproportionately impacted by the war on drugs.

This is the second time funds will be issued through the Restore, Reinvest and Renew program, which was set up under the state’s adult-use marijuana legalization policy. The law stipulates that 25% of cannabis tax revenue be allocated to that fund for use in providing services such as financial support, community re-entry, youth development and legal aid to disadvantaged individuals.

In July last year, officials in the state allocated $3.5 million in marijuana-generated funds toward efforts to decrease violence via street-intervention programs. In addition to allocating funds, the state’s governor, J.B. Pritzker, announced that his office had processed more than half a million pardons and expungements for individuals with low-level marijuana convictions on their records. The state also set up an initiative to help residents with prior cannabis convictions acquire legal aid to have their records expunged.

Meanwhile, a Senate committee in the state recently debated a measure that would protect workers from losing their jobs for using marijuana in their free time. This bill will prevent employers from discriminating against job applicants or firing their workers for testing positive for cannabis use.

The millions recorded in cannabis sales in Illinois in March alone suggest that sector players such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) have earned the trust of consumers, which may be why marijuana products are flying off the shelves.

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.

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

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Patriot Battery Metals (CSE: PMET) (OTCQB: PMETF) Featured in Virtual Coverage of the Quebec Critical Metals and Technology Live Virtual Investor Conference

Patriot Battery Metals (CSE: PMET) (OTCQB: PMETF), a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals, has 100% holdings of the Corvette Lithium Property that consists of more than 200 square kilometers in the James Bay Region of Québec. This property is being aggressively advanced with a 20,000 meter, two rig drill program. The company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA, which hosts two prospective gold prospects. Other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property, NWT, where the company maintains a 40% interest, as well as several other assets in Canada. For more information, visit the company’s website at https://patriotbatterymetals.com.

To view the recorded presentation, visit https://ibn.fm/YfML0

About InvestorBrandNetwork’s Virtual Coverage

The InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company, provides the online investment community with custom-built portals that include summaries on hundreds of presenting companies. In addition to enabling proficient evaluation of each company via one-click access to market research tools and helpful website links, IBN utilizes social media and syndicated articles to maximize the visibility of various investor conferences.

For more than a decade, IBN has provided real-time coverage for numerous global events and conferences through its various brands, social media accounts and investment newsletters. To further expand visibility of participating companies at these events, and to ensure another successful year for its event collaborations, IBN’s syndication partners have extended digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorBrandNetwork.com

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

InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

Patriot Battery Metals (CSE: PMET) (OTCQB: PMETF) Featured in Virtual Coverage of the Quebec Critical Metals and Technology Live Virtual Investor Conference

Patriot Battery Metals (CSE: PMET) (OTCQB: PMETF), a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals, has 100% holdings of the Corvette Lithium Property that consists of more than 200 square kilometers in the James Bay Region of Québec. This property is being aggressively advanced with a 20,000 meter, two rig drill program. The company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA, which hosts two prospective gold prospects. Other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property, NWT, where the company maintains a 40% interest, as well as several other assets in Canada. For more information, visit the company’s website at https://patriotbatterymetals.com.

To view the recorded presentation, visit https://ibn.fm/YfML0

About InvestorBrandNetwork’s Virtual Coverage

The InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company, provides the online investment community with custom-built portals that include summaries on hundreds of presenting companies. In addition to enabling proficient evaluation of each company via one-click access to market research tools and helpful website links, IBN utilizes social media and syndicated articles to maximize the visibility of various investor conferences.

For more than a decade, IBN has provided real-time coverage for numerous global events and conferences through its various brands, social media accounts and investment newsletters. To further expand visibility of participating companies at these events, and to ensure another successful year for its event collaborations, IBN’s syndication partners have extended digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorBrandNetwork.com

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

InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com