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

420 with CNW — New Cannabis Users Show Soft Spot for Beverages, Edibles

America’s cannabis industry has achieved a great deal despite its young age. Initially, smoking cannabis flower was the most common consumption method, but as the industry matured, cannabis companies started developing alternative marijuana products. Customers can now buy a wide variety of cannabis-infused edibles and concentrates, which were a lot safer than flower because they do not involve smoking. However, if the cannabis market has proved one thing, it’s that it is constantly in flux, with customer preferences evolving and companied coming up with new products to meet demand.

These days, edibles and beverages are winning over more new users compared to other consumption methods. This is partly because consumers are turning away from flower and vapes due to the respiratory risks they present, industry observers say. Dominic Cundari, general manager at Michigan-based ArborSide, says that he sees new users, plenty of them with years of smoking cigarettes behind them. who don’t want to put another combustible in their bodies. Consequently, they have been turning toward edibles, which present a significantly reduced health risk. Despite national trends that skew toward concentrates and flower, Cundari says edibles have been outselling concentrates at his store.

Cannabis-infused beverages have also seen a surge in popularity as customers seek alternatives to alcohol. Beverages are relatively new to the market, mostly because the technology needed to brew consistently smooth cannabis drinks still hasn’t been perfected, and experts say the beverage segment is poised to experience significant growth. Edibles are also looking at a lucrative future, Cundari and other industry players believe, partly due to the ease of use, popular brands, familiarity and new innovations. America’s cannabis space doesn’t have many well-known brands because of strict advertising limitations, but Cundari believes branding will play a major role in attracting and retaining customers.

With Michigan’s recreational cannabis market steadily maturing, more cannabis companies are promoting their products. People are becoming accustomed to seeing these advertisements, says Cundari, and this will help promote their brands and make them more recognizable.

Jeff Finnerty, the head of marketing at Ayr Wellness, a multistate operator based in New York, has also noted the increased customer interest in infused beverages and edibles. Innovations such as nano-emulsification, which allow beverage companies to finally infuse cannabinoids into water, as well as familiarity are partly responsible for this shift, he says. He notes that beverages and edibles are especially popular with new users who may be nervous about smoking or vaping and find beverages and edibles more familiar.

Entities such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) are at the forefront of pushing the path of innovation in the cannabis drinks space; these companies stand to reap major benefits as these drinks carve out a larger share of the total marijuana market.

NOTE TO INVESTORS: The latest news and updates relating to BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) are available in the company’s newsroom at http://cnw.fm/BVNNF

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 — Cannabis Retailers Find New Ways to Gain More Consumers

The legal cannabis industry has grown competitive as time has gone by and more companies have ventured into the lucrative space. This has led companies to go the extra mile to get more consumers, by incorporating more features into their retail operations that allow them to stand out.

Figures show that last year, the average retail size space in marijuana stores grew amid increasing consumer demand, with sizes increasing 35% and 50% for recreational shops and medical dispensaries respectively.

David Fettner, a managing partner at Grow America Builders, reveals that in states where the recreational market is more mature and the competition greater, companies looked for different ways to separate themselves from the others. Grow America Builders is a design-build construction company that specializes in the marijuana industry. The company is based in Illinois. Fettner explained that most of the company’s clients sought ways to make their security subtle and designed their shops with VIP rooms, which catered to the needs of consumers with deep pockets.

Over in Michigan, David and Edgar Ramon and Cory Roberts have plans to develop a marijuana grow operation, consumption lounge and retail store. The partners bought four acres of land for their new venture, called Fields Cannabis.

Ramon says that their objective was to establish a destination spot where consumers could have an immersive experience, eat and be entertained. They plan to use AI and virtual reality to give their consumers and visitors an immersive experience by allowing them to tour the site, all without physically visiting the growing facilities.

Other companies that aren’t focused on distinguishing themselves through their physical locations have focused on other aspects of their businesses. For instance, Deep Roots Harvest, a marijuana retailer based in Nevada, is working on boosting its online experience in regards to consumer feedback.

The company allows consumers to place their orders prior to their arrival and pick them up as soon as they get there or have them delivered, which reduces wait time significantly. Deep Roots Harvest also has merchandising areas in its stores where consumers can purchase T-shirts and other items.

Other companies, including Planet 13 Holdings, have expanded their retail space, enhanced their sound systems and installed video walls, which all boost the consumer’s experience. The Las Vegas-based retailer also has magnetic walls in its premises, which make it seem like its products are rotating at different speeds and floating, which affords its consumers a 360-degree experience.

Other companies such as American Cannabis Partners have perfected the science of moving quickly into legal cannabis markets that have just been opened, and this is an ideal strategy because the companies can dominate the market before many players become active there.

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

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420 with CNW — Yet Another Study Says Government-Sourced Marijuana Akin to Hemp

Cannabis research has been hampered by federal law for decades. Only one institution, the University of Mississippi, has been allowed by the Drug Enforcement Administration (DEA) to cultivate cannabis for research purposes, and researchers have long said that the plant material provided by the university is subpar and does not measure up to the cannabis sold in dispensaries across the country.

With some studies finding that this cannabis is often contaminated by mold in many cases, industry stakeholders have argued that the DEA needs to approve more cultivators. Now a new study has revealed what most cannabis researchers already suspected: the cannabis grown at the country’s only federally authorized source is genetically akin to hemp.

While hemp and marijuana both belong to the cannabis family, differing THC levels set them apart. THC is the chemical that makes people feel “high,” and it is usually present in large quantities in marijuana. Hemp, on the other hand, contains little to no THC and cannot intoxicate you. Published in the scientific journal “Frontiers,” the new study found that the cannabis grown on the University of Mississippi farm, and the cannabis sold in licensed dispensaries are genetically distinct. The researchers analyzed 49 samples of cultivated hemp and wild hemp as well as a couple of varieties of commercial marijuana and the “research-grade” cannabis cultivated at the University of Mississippi.

The results of the analysis showed that marijuana from the federally licensed facility and most of the drug-type strains sold in legal cannabis markets had a significant genetic difference, the researchers say. The “research-grade” cannabis was so genetically different from state-legal marijuana that it shared genetic similarities with the hemp samples. As such, the researchers say that based on their analyses, it seems that the marijuana that is supplied by National Institute on Drug Abuse for scientific research is genetically different from retail drug-type cannabis strains. It does not align with what consumers are purchasing and consuming, the researchers say, and they hope that the study’s results will push NIDA and the National Institutes of Health (“NIH”) to support the cultivation of the strains most commonly used by the public.

This study aligns with what previous studies into the matter have found; cannabis research needs plenty of reform. Federally licensed grow facilities will not just have to cultivate drug-type cannabis strains, but most of the different cannabis strains that are represented in the market as well. With millions of Americans already using cannabis medically and recreationally, such barriers to proper cannabis research present a significant public health issue.

Once additional manufacturers/growers are licensed, the future research done will stand a chance of giving findings that closely represent the effects of marijuana products made by industry actors such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) rather than those that aren’t reflective of the reality lived by consumers.

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420 with CNW — Study Finds That Army Recruits with History of Cannabis Use Perform Like Other Soldiers

A new analysis funded by the government has found that past marijuana use has little to no effect on overall performance of army recruits. The analysis found that recruits who had a history of cannabis use were just as likely as their peers to advance in rank. They were also more likely to leave the army due to drug issues but less likely to leave as a result of performance or health issues. The analysis also found no evidence that the legalization trend spreading across the United States had affected recruit outcomes.

The report, which was compiled by the RAND Corporation, states that recruits with a documented history of behavioral health conditions or cannabis as well as waivered recruits were in some cases likely to perform better in comparison to their counterparts.

The report focuses on waivers that permit the U.S. Army to reconsider applicants who had initially been disqualified for a variety of reasons, including the use of marijuana. Applicants with a documented history of marijuana use as well as those who test positive for cannabis need waivers to enlist into the army. This also applies to individuals diagnosed with depression, anxiety disorders or ADHD.

In a blog post, an official from RAND Corp. stated that without the presence of waivers, about one-third of individuals aged 18 or older would be prevented from enlisting because of failed cannabis drug tests. The official noted that recruits who were allowed to join the army despite their history of cannabis use performed like other soldiers.

The Arroyo Center, a federally funded research and development center under RAND Corp, was asked by the U.S. Army to conduct an analysis of the performance of recruits who had received waivers. The analysis gathered records on every recruit who entered the U.S. Army between 2001 and 2012, with the researchers noting that the analysis didn’t find a statistically substantial relationship between the performance of a recruit and a documented history of marijuana use.

Overall, the researchers found that the performance of recruits wouldn’t change significantly if waivers were increased, noting that in some cases, the impact would be improvements in performance. Currently, those wishing to join the army have the option of requesting positive tests for cannabis during their physical exams. Applicants can also request waivers for misdemeanor convictions for driving while impaired or under the influence of cannabis and for the possession of paraphernalia or marijuana.

The authors of the report acknowledge that while some of their findings reinforced existing views, most differed from their expectations.

It looks as if science is gradually dispelling many of the misconceptions that have surrounded marijuana, and a time may come when sector players such as Hero Technologies Inc.(OTC: HENC) will operate in an environment that views cannabis just like any other commodity.

NOTE TO INVESTORS: The latest news and updates relating to Hero Technologies Inc. (OTC: HENC) are available in the company’s newsroom at https://cnw.fm/HENC

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CannabisNewsBreaks – RYAH Group Inc. (CSE: RYAH) Receives Additional Order as Its Ecosystem Continues to Power Trials, Pilots and Studies in Plant-Based Medicine

RYAH Group (CSE: RYAH) today announced its receipt of an additional order for future shipments of hundreds of its proprietary RYAH Smart Dry Herb Inhalers and accessories to its United Kingdom-based industry partner, an international clinic undertaking one of the world’s largest and most comprehensive clinical trials in plant-based medicine. The order follows the recently announced initial shipment, and the devices will be used by a growing number of participants of the major U.K.-based clinical trial. Over the next five years, the trial is planned to engage tens of thousands of United Kingdom patients and aims to focus on studying the safety and efficacy of plant-based therapies on chronic pain. “The additional order from the U.K. for the RYAH connected devices further expands our product and data footprint as the RYAH ecosystem continues to power trials, pilots and studies in plant-based medicine therapies worldwide,” said Gregory Wagner, CEO of RYAH Group. “We are anticipating our manufacturing operations to begin additional production runs, as we expect the U.K. study to accelerate orders for RYAH Smart Inhalers over the coming months.”

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

About RYAH Group Inc.

RYAH is a connected device and big data and technology company focused on valuable predictive analysis in the global medical plant and nutraceutical intake industry. Its robust artificial intelligence platform aggregates and correlates Health Insurance Portability and Accountability Act (“HIPAA”)-compliant patient data, which is intended to help doctors and patients personalize plant-based treatments to better predict treatment outcomes. The data collection is relevant for clinics, doctors, dispensaries and pharmaceutical companies and licensed processors (“LPs”) to monitor and manage formulation effects on patients and demographics. With a strong intellectual property portfolio, RYAH gathers deep and insightful data on the complete patient session and formulation lifecycle. For more information, visit www.RYAHGroup.com.

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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 – BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) Announces Sell-Out of First Shipment of Keef Brands

BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health and wellness beverage and natural products company, sold out of its initial shipment of Keef Brands’ award-winning beverage line. The shipment was sent to the British Columbia Liquor Distribution Branch (“BCLDB”), the sole wholesale distributor of nonmedical cannabis in British Columbia. The product line is the number-one selling cannabis-infused beverage brand in the United States. The BCLDB shipment included two of the brands most popular options: Bubba Kush Root Beer and Orange Kush Classic Soda. The company noted that additional production runs are already underway to meet the strong customer demand. “Keef’s reputation as an award-winning beverage brand has preceded it, and Canadians have been eager to be able to purchase the line here in Canada,” said BevCanna Enterprises president Melise Panetta in the press release. “As the exclusive manufacturer of Keef Brands products in Canada, we’re happy to be able to offer British Columbians this premier brand, and even happier that consumers have responded so positively.”

To view the full press release, visit https://cnw.fm/0H0lJ

About BevCanna Enterprises Inc.

BevCanna Enterprises is a diversified health and wellness beverage and natural products company. BevCanna develops and manufactures a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients. With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the BevCanna team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, BevCanna owns a pristine alkaline spring water aquifer and a world-class, 40,000-square-foot, HACCP-certified manufacturing facility, with a bottling capacity of up to 210 million bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with number-one U.S. cannabis beverage company Keef Brands. For more information about the company, please visit www.BevCanna.com.

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About CanadianCannabisWire

CanadianCannabisWire (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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CBDNewsBreaks – Hero Technologies Inc.’s (HENC) Cultivation Systems Producing High Plant Density with Minimal Environmental Impact

Hero Technologies (OTC: HENC) is committed to a strategic grow plan that produces high-efficiency, low-carbon-footprint crops. A recent Colorado State University (“CSU”) report observed that 80% of the one million pounds of marijuana grown annually in Colorado is produced indoors. Indoor cultivation requires energy intense grow lights, fans to circulate air and strengthen stems, carbon dioxide gas to increase plant growth, and sophisticated equipment to maintain a comfortable temperature and humidity. Considering that this energy primarily comes from fossil fuels, this form of artificial plant production may not be so environmentally friendly. “Hero Technologies cultivation systems, on the other hand, use a proprietary aeroponic cultivation system and high-tech sun chambers designed to produce high plant density and yields but with minimal environmental impact,” reads a recent article. According to HENC CEO Gina Serkasevich, the company anticipates that its systems could reduce operating costs by one-third or more. “In addition, we expect our cannabis cultivation technologies to produce optimal plant density and crop cycles for the lowest possible cost-per-yield, which is the biggest contributor to sustainability, efficiency and positive environmental impact.”

To view the full article, visit https://cnw.fm/VHR0i

About Hero Technologies Inc.

Hero Technologies is a cannabis company working toward a vertically integrated business model. The company owns a majority stake in BlackBox Systems and Technologies LLC, an aeroponic cannabis cultivation system that provides optimal growing conditions to enhance photosynthesis and cultivation of large flowering plants, creating increased harvest efficiencies. Hero Technologies’ strategic business plan includes cannabis genetic engineering, farmland for both medical and recreational cannabis cultivation, production licenses, distribution licenses, consumer packaging, and retail and dispensary operations that make the company a multi-state operator (“MSO”). For more information about the company, visit www.HeroTechnologiesInc.com.

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

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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420 with CNW — Study Finds Cannabis Legalization Has No Link to Increased Suicide, Mental Illness

Legalizing cannabis was always going to be a controversial move. After decades of prohibition and anti-marijuana propaganda, drug reform activists had a difficult task at hand, and opponents to drug reform did not make their jobs any easier.

While cannabis advocates said that decriminalizing cannabis would reduce incarceration rates for nonviolent drug offenses, create plenty of new jobs and generate tax revenue for states, opponents argued that doing so would open a Pandora’s box with untold consequences on society. They said that allowing cannabis sales would increase drug usage among teens, boost criminal activity, lead to an overall decline in mental health and increase suicide rates.

However, now that more than two-thirds of American states have legalized medical marijuana and 18 states allow recreational use, it is becoming more apparent that the fears of opponents were unfounded. As the states began allowing cannabis sales, initial studies found that cannabis reform did not have the detrimental effects that reform challengers feared.

According to a new study conducted by researchers from several institutions, there is no association between cannabis legalization and cases of increased mental illness or suicide. In fact, interestingly, the study found that cannabis legalization laws were associated with a 6.29% decrease in suicide rates among American males aged 40-49. Furthermore, cannabis has shown great promise in treating the symptoms of conditions such as anxiety and post-traumatic stress disorder, although further evidence is needed to say this conclusively.

This new study involved researchers from Yale Law School, Case Western Reserve University School of Medicine, Reason Foundation, Cato Institute and other institutions. These organizations wanted to evaluate whether the results of a 2013 study that looked at the correlation between cannabis legalization and mental illness were still accurate now that initial cannabis markets are maturing, and more states have launched their own cannabis markets.

To do so, the researchers performed a “state-level longitudinal analysis” using suicide rates provided by the National Center for Health Statistics as well as mental health morbidity rates from the National Survey on Drug Use and Health. The data used in the study had been collected from 1999–2019 and covered all 50 states and Washington DC. The researchers concluded that aside from the 6.29% reduction in suicide rates among males aged 40–49 years, cannabis legalization did not have any other mental health outcomes. The study is still undergoing peer review and is slated for publication.

Future studies on cannabis compounds could greatly benefit from the data analytics tools and plant medicine devices invented by RYAH Group Inc. (CSE: RYAH) given that those virtual tools aggregate significant research data.

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420 with CNW — Study Finds Marijuana Products May Help Manage Depression

Anti-anxiety and antidepressant medications have helped many who struggle with depression and anxiety over the years. However, the treatments aren’t effective in some individuals, which prompts them to look for alternative treatment options. New research has found that more individuals suffering from depression and/or anxiety are using marijuana products to manage their symptoms.

Results from prior studies on depression and marijuana are mixed, with a 2019 study reporting that teenage cannabis use was linked to depression. However, some synthetic or isolated components of marijuana have demonstrated a short-term decrease in anxiety.

This new study was led by Erin Martin, a neuroscientist from the Medical University of South Carolina. It recruited more than 500 participants, 170 of whom did not use marijuana.

The team administered an online survey that asked various questions regarding the participants’ use of marijuana, chronic pain issues, quality of life, sleep, depression and anxiety. The researchers utilized the Hospital Anxiety and Depression Scale (“HADS”) to examine each of the participants’ experiences. On this scale, a score can be as high as 20, but any score above 8 signals clinical concern.

The researchers found that the individuals who were consuming marijuana products had lower levels of depression, noting that a bigger proportion of those who consumed marijuana also scored less than eight on the HADS scale in comparison to the control group. Marijuana users also reported that their quality of life was higher and that their sleep was better in the last month in comparison to the control group.

In addition, in follow-up studies, the researchers found that the anxiety of a fraction of the those who hadn’t used decreased when they consumed marijuana. Furthermore, the researchers discovered that the effect of the plant was potent among individuals who used products with higher amounts of CBD in comparison with THC products.

In their report, the researchers note that, at baseline, no effect of medicinal marijuana use on anxiety was observed. They added that marijuana’s potency wasn’t impacted by individuals who consumed conventional antidepressants.

The study had various limitations, including the fact that this was a self-reported questionnaire, which makes it more difficult to find out the exact effects of the drug. The researchers note that more research is needed to find out whether individuals who can’t or don’t want to take anti-anxiety and antidepressant medications could do so without repercussions.

It should be noted that the study’s data isn’t a recommendation to quit the use of prescribed medications and use marijuana as a depression or anxiety buster. The study was reported in “Frontiers in Psychiatry.”

This research makes a strong case for giving cannabis and CBD medicinal in particular, including those manufactured by entities such as Simply Sonoma Inc., a closer look to ascertain their potential medical benefits.

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CannabisNewsBreaks – Sprout AI Inc. (CSE: BYFM) Provides Shareholder Update, Announces New Ticker Symbol, Issues Clarification on Previous Press Release

Sprout AI (CSE: BYFM), a technologically focused, sustainable vertical farming company, has developed scalable, AI-controlled aeroponic cultivation habitats and technology that provides solutions to the ever-increasing complexities surrounding current and future needs of a sustainable global food production and supply chain. As referenced in its Oct. 21 press release, the company confirms that it is not aware of any material, undisclosed corporate developments and has no material changes to report at this time. Sprout AI would like to assure its investors that the trading volume and resulting downward pressure that took place in October is not a reflection of the company’s financial health or future business opportunities. Sprout AI has consistently met and superseded key performance indicators (“KPIs”) set by its team and continues to work diligently on opportunities that will bring both revenue and shareholder value. Sprout AI released its third quarter financial statement and MD&A on Nov 1, 2021, in which it highlighted transitioning from primary reliance on equity financing to reliance on non-refundable client deposits and anticipates its working capital will continue to improve. In addition, the company announced that, effective Nov. 5, 2021, it officially commenced trading under the symbol BYFM on the Canadian Securities Exchange (“CSE”).

The company also issued a clarification at the request of the Investment Industry Regulatory Organization of Canada (“IIROC”) and the CSE following its Oct. 28, 2021, press release. The company wishes to convey that the Oct. 28 press release had not been reviewed prior to its dissemination by IIROC and the CSE. In the release, the company identified potential investor confusion related to the SPRT symbol used in the United States for a NASDQ-listed issuer unrelated to Sprout AI. The company also stated that “NASDAQ: SPRT undertook a substantial short position that resulted in the stock halting trading.” Sprout AI wishes to clarify that Support.com (NASDAQ: SPRT) was halted from trading due to volatility during a merger that took place in September 2021. Sprout AI CEO Chris Bolton previously stated that IIROC “is reviewing the information provided concerning explanations for this unexpected sell-off. . .” The company clarified that it had submitted multiple concerns to IIROC and received an acknowledgment of the submission and regrets any implication that IIROC had validated or given merit to any of the allegations submitted by Sprout AI to IIROC related to any claims previously announced by the company. In addition, in its Oct 28. news release, Sprout AI discussed its request to change its ticker symbol, referencing three symbol choices at the time of listing. The company recognizes that the listing exchanges in Canada and the U.S. do not coordinate symbols in the symbol assignment process. The CSE, therefore, has reserved BYFM as Sprout AI’s new symbol, which is not currently in use in Canada or the U.S.

To view the full news releases, visit https://cnw.fm/Bue6p and https://cnw.fm/b4Au3

About Sprout AI

Sprout AI is a vertical farming technology company in the business of planning, designing, manufacturing and/or assembling sustainable and scalable AI-controlled vertical cultivation equipment for indoor vertical farming. The adaptive technology produces an environment with improved growing parameters and early detection of adverse conditions resulting in consistent and repeatable crops, with shorter cultivation cycles independent of geographic climates. The self-contained multilevel rolling rack technology increases the cubic cultivation area while mitigating the risk of outside and cross-contaminants. For more information about Sprout AI, please visit www.SproutAI.solutions.

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