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

CBDNewsBreaks – CBD Beverages & Ingestibles Summit 2021 Announces CannabisNewsWire as Official Newswire for Event

CBD Beverages & Ingestibles Summit 2021, presented Kisaco Research, has selected CannabisNewsWire (“CNW”), a specialized communications platform for the cannabis sector and one of the more than 50 brands included in the InvestorBrandNetwork (“IBN”) family, to serve as the official newswire for the event. The premier two-day summit is scheduled for Oct. 25–26, 2021, and will be held in Las Vegas. This year’s event also features an entirely virtual session slated for Oct. 12, 2021. The CBD Beverages & Ingestibles Summit is designed to gather those interested in the growing CBD product space and provide networking opportunities as well as invaluable information and materials regarding the latest scientific breakthroughs within the field. The event provides an ideal venue for retailers, wholesalers, distributors, restauranteurs and bar owners seeking to learn more about some of the most cutting-edge and innovative products available in the industry. The summit agenda includes more than 35 leading industry speakers and thought leaders as well as insightful and timely panel discussions and case studies. IBN and CNW will work together to leverage their corporate communications solutions to enhance and increase recognition for conference participants who are seeking to enhance visibility among investors, journalists, consumers and the public. “We are pleased to be collaborating with this group of brands,” said CBD Beverages & Ingestibles Summit producer Leah Darbyshire in the press release. “CNW, IBN and their collective brand network have a strong reputation for reaching large audiences. Our team looks forward to working alongside them in heightening the overall awareness of our upcoming event as they assist us in ensuring that our message will be broadly shared with those desiring to learn more about the future of the fast-growing CBD industry and the exciting new products, innovations, and practices being launched within it.”

To register for the event, visit https://cnw.fm/g4fdt

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

About CBD Beverages & Ingestibles Summit 2021

CBD Beverages & Ingestibles Summit 2021 offers an opportunity for participants to gain a rundown of all the latest scientific and technical innovations in one place. In addition, those in attendance can network and connect with the community of suppliers that is growing up around CBD drinks and edibles. The summit also provides a much-needed platform where industry executives can network, connect and learn from each other as well as meet potential industry partners. For more information about the summit, visit www.CBDBeveragesandIngestibles.com.

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 — Snoop Dogg Urges Sports Leagues to Permit Cannabis Use by Athletes in Lieu of Opioids

Cannabis use among athletes is a controversial topic. Some sporting leagues have adhered to federal law, which classifies cannabis as a Schedule 1 controlled substance, and banned their athletes from consuming marijuana.

In the past, professional sporting leagues such as the NBA and the NL tested for cannabis and often imposed punitive measures on athletes who failed these tests. However, the conversation regarding professional sports and cannabis peaked when American sprinter Sha’Carri Richardson was suspended from participating in the Olympics after testing positive for THC, the main psychoactive agent in cannabis.

Richardson had consumed cannabis in Oregon where both recreational and medical marijuana is legal, and her suspension was met with furor. Drug reform activists as well federal candidates and several members of Congress condemned her suspension, with Reps. Alexandria Ocasio-Cortez and Jamie Raskin calling the ban on cannabis a “significant and unnecessary burden” on athletes’ civil liberties in a letter to the United States Anti-Doping Agency (“USADA”) and the World Anti-Doping Agency.

Hip Hop legend and well-known cannabis connoisseur Snoop Dogg recently weighed in on the debate at a talk show where he voiced his support for cannabis use among athletes, especially as an alternative to opioids. When guest host Stephen A. Smith asked for his opinion on the matter on Jimmy Kimmel Live, Snoop Dogg said that sports leagues ought to stop testing their players for cannabis and update their policies to allow athletes to use cannabis rather than prescription opioids.

Currently a sports commentator for ESPN, Smith asked Snoop whether athletes should stay away from cannabis to avoid penalties that may cost them money. Snoop said that while entertainers such as himself who did not have to adhere to such policies could consume cannabis, athletes who have rules to follow and are subject to tests should indeed avoid using cannabis as it could jeopardize their income.

However, Snoop Dogg still isn’t at all sold on the idea that athletes should be penalized for using cannabis. A lot of athletes are prescribed opioids to help alleviate the aches and pains that come with being a professional athlete, he says, and they eventually get addicted to the medications, even though the medications don’t actually provide the relief the users are looking for.

Thanks to cannabis, however, athletes have been able to alleviate pain and anxiety without experiencing the side effects pharmaceuticals are known for. The fact that different sports leagues hold players to different standards regarding drug testing doesn’t make sense, he says, and sports leagues should reform and standardize their cannabis policies.

Thanks to Richardson’s controversial suspension, the case for cannabis reform in sports is gaining even more steam. The NBA put random drug testing on hold during the early days of the pandemic, and according to the league’s top official, this policy change may be permanent. The MLB already removed cannabis from its list of banned substances in 2019, and the NFL changed its policies to protect athletes who receive positive results for any drug test, including cannabis, from being suspended.

The views expressed by Snoop Dogg regarding the medical use of marijuana aren’t entirely unfounded as companies such as RYAH Group Inc. (CSE: RYAH) are bringing to market smart devices designed to help consumers measure precise doses of the marijuana they smoke for therapeutic purposes.

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

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 — California Sets Fiscal Year Record for Marijuana Tax Revenue

The nonpartisan Legislative Analyst’s Office in the state of California estimates that during the 2020–21 fiscal year, the state collected roughly $817 million in recreational cannabis tax revenue. This amount is 50% more than the marijuana earnings for the state coffers that were generated in the previous fiscal year. The officials state that combined cultivation and excise tax revenue for the fourth quarter, which ended in June, equates to $211 million.

It should be noted that these figures do not include local revenues to municipalities where the transactions occur, nor do they take into account additional regular sales taxes generated from marijuana.

It is surprising that this trend of increased tax and sales revenue has been continuing amid the COVD-19 pandemic, which significantly contributed to an increase in unemployment and forced many businesses to shut down. The cannabis marketplace also grew considerably during this time, despite the fact that marijuana businesses are ineligible for the federal aid that was provided to other industries.

An analysis of new data by the state’s Department of Tax and Fee Administration also found that since 2018, total adult-use cannabis revenue to date for the state of California is $2.8 billion. This amount is inclusive of $1 billion in sales tax, about $348 million in cultivation tax and $1.4 billion in excise tax.

California isn’t the only state recording strong marijuana sales. A scientific analysis of sales data that was recently conducted in Washington State as well as in the states of Oregon, Colorado and Alaska has found that cannabis purchases have grown significantly during the coronavirus pandemic than in the past two years.

In the month of July, more than three states in the country hit new sales records for adult-use marijuana. The state of Missouri also saw record-breaking sales for its medical cannabis program. In the same month, the state of Illinois saw almost $130 million in recreational marijuana purchases, which is more than double its sales for July 2020. This makes July the fifth month that sales in the state have exceeded $100 million. Illinois may rake in over $1 billion in recreational cannabis sales by the end of the year if the trend continues.

In Maine, July’s recreational cannabis sales were more than $9 million, which is a 45% increase from its June sales record. Data from a regulatory body in the state of Michigan also shows that the state broke its cannabis sales record in July, with more than $170 million in marijuana transactions.

The soaring cannabis sales and the taxes generated in different jurisdictions paint a promising picture for the future of sector players such as Golden Triangle Ventures Inc. (OTC: GTVH), which focus on bringing only the best cannabis products to the market.

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

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CannabisNewsBreaks – The Alkaline Water Company Inc.’s (NASDAQ: WTER) (CSE: WTER) Alkaline88(R) Coming Soon to 9 Major US Airports

The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company and The Clean Beverage Company(TM), today announced that its one-liter and 700ml bottles of Alkaline88(R) will be available in over 100 retail locations in nine major U.S. airports. “With the rebounding of the airline industry, this was an ideal time for Alkaline88 to enter into this channel. The sales team and our new director of hospitality and foodservice, Gary Bliss, have done an amazing job securing this deal. Now, hundreds of millions of passengers will have access to Deliciously Smooth(TM) Alkaline88 as they travel through major airports to destinations around the world. Featured in over 100 retail locations, our brand will be accessible to every passenger that enters these terminals,” said Ricky Wright, president and CEO of The Alkaline Water Company. “These airports represent nine of the top 30 airports in North America. They include the big three in New York City area—JFK, LaGuardia and Newark— Chicago O’Hare, Reagan National, Orlando International, George Bush Intercontinental/Houston, Minneapolis-St. Paul International, and Philadelphia International. In 2019, over 400 million passengers flew out of these airports.”

To view the full press release, visit https://cnw.fm/Dh9fi

About The Alkaline Water Company

Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH-balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label: Clean Beverage. Quickly being recognized as a growing lifestyle brand, Alkaline88 launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused flavored water is available in six unique, all-natural flavors with new flavors coming soon. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for the Alklaine88 and A88 Infused brands. To purchase Alkaline88 and A88 Flavor Infused products online, visit www.Alkaline88.com. To learn more about the company, visit www.TheAlkalineWaterCo.com.

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

About CannabisNewsWire

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

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420 with CNW — Is Hemp Clothing as Sustainable as Claimed?

As more countries adopt the use of renewable energies, people are encouraged to live more sustainably. Clothes made from hemp have become a popular alternative to the traditional poly-cotton blend, as the material is not only ecofriendly but also natural.

So, what is hemp?

Unlike marijuana, hemp doesn’t contain THC, which is the psychoactive ingredient that causes a high. Hemp is a biofiber that has been used for millennia as rope, medicine, food and almost any other item that can be made from its fibrous and durable stalks.

Hemp fiber is completely biodegradable and natural, in addition to being antimicrobial, antibacterial, antiviral and hypoallergenic. This makes hemp a good option for the consumer, as well as a safer and cheaper crop for farmers to grow as it eliminates the need to use pesticides and fertilizers. Hemp also needs less water to grow, which makes it an even more economical crop. Currently, the primary growers of hemp globally are China, Canada and Europe.

How sustainable is hemp?

Mass-produced hemp has the potential to be more sustainable in comparison with cotton. As a fabric, hemp is also more durable and water absorbent.

Hemp cultivation gives high yields, which makes it an economically viable crop as well. Hemp can also grow in infertile land and needs less energy to grow into a healthy plant. This means that instead of the fiber industry using fertile land to grow hemp, that land can be used to grow food.

However, there are some things one should keep in mind when it comes to hemp farming, including the following:

Hemp seedlings are expensive, in addition to being delicate. While nearly 80% of these seedlings will germinate indoors, this number decreases to 50% when they’re planted outside.
Hemp plants need attention and protection from pests if cultivated outdoors or meticulous light and climate control if cultivated indoors.
In comparison with conventional farming, industrial hemp farming is more labor intensive.

Where can I buy hemp clothing?

You can buy hemp clothing from BeWUSST, which manufactures hemp leggings, sweaters and even hemp underwear. Hempys is also a good option as it offers both pure hemp wear as well as hemp-cotton and other fiber blends.

Many believe that hemp farming can also be used to meet global demand, which makes this fiber’s future extremely promising. In addition to this, hemp can save a lot of fertile land and water from a sustainability stance. However, for the global hemp fiber industry to thrive, it needs support.

With companies such as Flora Growth Corp. (NASDAQ: FLGC) set to take hemp textiles a notch higher, it may not be long before hemp clothing goes mainstream.

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

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420 with CNW — Experts Say Schumer’s Cannabis Reform Bill Likely to Create Sector Losers, Winners

For months, Senate Majority Leader Chuck Schumer has said that he is working on a bill to federally deschedule cannabis and that he would do all he could to advance the legislation, even without President Joseph Biden’s support. Schumer recently unveiled a draft of his comprehensive cannabis reform, the Cannabis Administration Opportunity Act, which would remove marijuana from the Controlled Substances Act, let states decide how to legalize cannabis, and launch social equity programs that would help disadvantaged communities, among others.

Although the draft legislation faces a Herculean challenge in advancing past the U.S. Senate, experts are already weighing in on how it will affect the players in the American cannabis industry. There will definitely be winners and losers if Schumer’s bill, or any other federal cannabis legislation for that matter, were to advance and become law.

Most experts agree that the immediate beneficiaries would be large, well-capitalized companies, with 3C Cannabis Consulting CEO Nic Eastley predicting that the “big dogs” will be the major winners. This would include multistate operators such as Curaleaf in Massachusetts and Green Thumb Industries in Illinois; cannabis product brands that have a national footprint such as California-based Cookies and Wana Brands in Colorado; retailers with shops in in-traffic locations such as the Las Vegas strip-based Planet 13; and Canadian products that are poised to expand into America.

Small multistate operators with relatively little investment along with indoor cultivation as well as mainstream businesses that aren’t in the cannabis space such as tobacco companies and alcohol distributors that have the capital and infrastructure and capital to enter the cannabis market and dominate also stand to benefit from federal legalization.

However, this doesn’t mean that only the larger companies will be enjoying the spoils. Thanks to extensive social equity requirements, smaller businesses will be offered protections against much larger firms with extensive capital and given the opportunity to flourish. Smaller craft marijuana farmers would especially benefit from interstate commerce, but states are likely to fight entry from outside companies in a bid to protect local businesses from competition.

If Congress were to pass the SAFE Banking Act, which would protect banks and credit institutions that transact with cannabis businesses from federal reprisals, single-state operators and smaller multistate operators would have increased access to funding at lower interest rates. Presently, smaller businesses are paying interest rates between 11%–20% while larger operators have leveraged their equity to achieve interest rates below 10%. Ultimately, it is the larger businesses that will benefit, thanks to their existing infrastructure and substantial capital.

However, the entire cannabis industry will be the final winner since companies such as American Cannabis Partners and all other sector players will have fewer regulatory inconsistencies to deal with.

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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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Inks Definitive Agreement to Acquire California Cannabis Licenses

Sugarmade (OTC: SGMD), an emerging leader in the vertically integrated cannabis marketplace based in California, has signed a definitive agreement outlining the acquisition of three nonstorefront California cannabis licenses from the Department of Cannabis Regulation (“DCR”) in Los Angeles; the agreement also includes corresponding licenses from the California Bureau of Cannabis Control (“BCC”). Both pieces combined will allow Sugarmade to license and operate three new vertically integrated Nug Avenue cannabis delivery hubs. According to the announcement, each of the three licenses can be used for up to three of the five categories of licensed cannabis-related business activities allowed under the terms of these licenses. Those categories include retail delivery, manufacturing, distribution, transport-only and cultivation. SGMD anticipated using the licenses for a combination of retail delivery of cannabis products, supply chain distribution of cannabis products and manufacturing/packaging of cannabis products. Following its current strategy, SGMD will have the required licensing credentials to open three new Nug Avenue locations in the Los Angeles metropolitan area. “Once we have put all of these new licenses to use, we will have quadrupled our distribution footprint in the world’s largest cannabis market,” said Sugarmade CEO Jimmy Chan in the press release. “We also continue to move toward establishing our own cultivation operations. Together, these steps are part of our core vision — to establish a full farm-to-door vertically integrated cannabis company capable of driving a much greater percentage of total sales to the bottom line for our shareholders, while capturing much greater control over product quality for our customers.”

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

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush(TM), NUG Avenue, Lemon Glow and Budcars. For more information about the company, please visit www.Sugarmade.com.

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

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Releases Q2 2021 Financials, Business Highlights

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has reported its second quarter 2021 financials. The report includes the news that adjusted sales for the first six months reached $58.5 million, with revenue for Q2 2021 topping $13.3 million compared to $11.8 million in Q1 2021, an increase of 13%. The company’s gross margin for the period was $9.5 million. The company also noted that it was able to reduce its short-term obligations through repayment of approximately $18 million of debt and restructuring of more than $20 million into long-term debt. Corporate highlights for RWBYF include closing on the acquisition of Acreage Florida, a property that is licensed to operate medical marijuana dispensaries, which includes processing facility and a cultivation facility, as well as obtaining 30 double-wide, fully enclosed cultivation pods that will provide approximately 19,000 square feet of turnkey cultivation space. The company also has completed the more comprehensive portion of Michigan’s two-step application process for medical marijuana licensing through a wholly owned operating subsidiary. “We continue to make great strides with our branded products and see momentum in Q2, which has teed up Q3 nicely, and will translate into a strong second half,” said Red White & Bloom chair and CEO Brad Rogers in the press release. “In Florida, after closing the acquisition at the end of April, we have made strategic investments that are allowing us to quickly ramp up capacity as well as complete construction for new store openings before the end of 2021. Under IFRS, revenue for the second quarter was up 13% over the first quarter of this year. Even with the growth in recognized revenue, it’s important to note that in the second quarter, there were a number of significant raw material inventory purchases made to support growth for Q3 and in anticipation of new branded product line launches; we want to point out that, under IFRS, these purchases reduced recognized revenue for PV in Michigan. We continue to present the Adjusted Sales to assist investors in understanding the growth and demand for our brands in the US cannabis market.”

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

About Red White & Bloom Brands Inc.

Red White & Bloom Brands is positioning itself to be one of the top-three, multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com.

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

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420 with CNW — Medical Marijuana Portal for Veterinarians in the US Launched

The Veterinary Cannabis Society has unveiled an educational portal and website for marijuana product companies, pet owners and veterinarians. Marijuana in pet care has grown in popularity, which has brought along with it misinformation and confusion, with some products not only causing individuals to waste their money but also negatively affecting pets. In some cases, products may lead to death.

Dogs, in particular, are sensitive to marijuana products that contain THC, which is the main psychoactive compound in marijuana. Cannabis toxicity is a severe medical issue that has been increasing since recreational and medical use of cannabis became legal in various states across the United States.

A study that was recently published in the “Journal of Veterinary Emergency and Critical Care” found that between 2005 and 2010, the number of dogs that were treated for cannabis poisoning had more than tripled in Colorado after medical cannabis was legalized in the state. Another study conducted by LeafReport has discovered that almost 60% of the pet products have inaccurate claims on their labels. This is why quality control is crucial for pet products.

Veterinarians are also not permitted to discuss the use of marijuana for pets with pet owners in some states. Dr. Trina Hazzah, who is the co-founder and president of the Veterinary Cannabis Society, stated that veterinarians found it difficult to discuss marijuana with pet owners because the vets lacked the knowledge or wanted to avoid possible legal implications. Hazzah noted that it wasn’t right for veterinarians to risk their livelihood or license because they were trying to do what was right for their patients. According to the Veterinary Cannabis Society, almost 70% of veterinarians will not advise pet parents on marijuana because they lack the knowledge.

The veterinary society, which was established in 2020, was founded in response to the gap in knowledge concerning the appropriate and safe use of medical marijuana for treating animals. In addition to offering general information, the society also provides its members with educational resources, including presentations, videos, podcasts, a research library and critically reviewed articles.

Hazzah observed that she’d developed an interest in marijuana medicine when looking for integrative effective approaches for veterinary cancer patients. She noted that the cancer society’s goal was for an empowered and educated international veterinary medical marijuana community. The Veterinary Cancer Society is currently working with interested organizations and parties in several states in the country to promote reasonable legislation for the use of medical marijuana in the veterinary profession. This is in addition to working to create a system of product quality standards.

Such portals are likely to spread awareness about the potential benefits and risks of marijuana compounds for different market segments, and with that awareness, demand could grow for the products made by companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF).

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

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420 with CNW — A Primer on Cannabis-Infused Beverages for Beginners

America’s state-legal cannabis industry has come a long way from the days of prohibition. More than a dozen states have now legalized some form of cannabis, and although it is still illegal at the federal level, cannabis sales are booming. The controversial plant has gotten so popular that the industry is raking in billions of dollars in sales less than a decade after state legal sales began. Concentrates have been the most popular cannabis products, but in the past year or so, cannabis-infused beverages have started giving concentrates a run for their money.

Although cannabis beverages aren’t an entirely new concept, the quality was questionable until recently. Lyden Henderson from Outbound Brewing recalls trying a cannabis-infused beer back in 2019 and the experience was quite horrendous. The drink was chunky, with bits of cannabis floating around, he reported, and it had a very unpleasant texture. He compares it to drinking milk that had been in the fridge for four months and calls it one of the “grossest things” he had ever tried in his life.

But thanks to the industry’s lightning-fast technological advancements, cannabis-infused beverages are much better now. So good, in fact, that some people have started using them as alternatives to alcohol. A 2020 poll by data and intelligence firm Prohibition Partners found that 16% of Americans were interested in trying cannabis beverages and would probably do so within the next 12 months.

According to a recent report from the market analysis group, the global cannabis drinks space will grow at an annual rate of 45%, reaching a $5.8 billion valuation by 2024. Prohibition Partner’s co-founder and managing director Stephen Murphy says we are on the “cusp of a drinks revolution” and cannabis-infused drinks have the potential to disrupt the drinks market and generate a ton of revenue for businesses in the cannabis space.

It is not surprising that the cannabis drinks segment is projected to see significant growth in only a few years. CBD, a cannabinoid that is famous for its potent medical properties, has experienced major growth, with global sales rising from $3.4 billion in 2014 to $11 billion in 2018 and predicted to hit $23 billion by 2025. As per Prohibition Partner’s recent report, 25% of consumers said they would give cannabis beverages a shot and, of consumers who had already tried it, 28% expected to have another cannabis-infused drink in the next three months.

Most of these drinks contain either CBD, THC or both, depending on where they are developed and sold. Companies in states that don’t allow recreational marijuana can only infuse CBD into their drinks, and they are required to source the CBD from hemp. On the other hand, consumers in states with legal adult-use markets can enjoy drinks infused with both THC and CBD.

Several companies have shown interest in this still-untapped space, with companies such as Vita Coco, Ocean Spray, Lagunitas Brewing Company and Molson Coors Canada launching new lines of cannabis beverages. BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) is also fast becoming a dominant player in the infused drinks space, both in Canada and the United States.

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

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