Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Finalizes NDA with 6PAK Solutions Canada, Plans to Launch Product in Canada

Grapefruit USA (OTCQB: GPFT), a premiere California-based cannabis and hemp company, has partnered with 6PAK Solutions Inc., a leading Canadian cannabis manufacturer and arm of ATG Pharma Inc. The two companies have signed an NDA and are working together to distribute Grapefruit’s patented Hourglass(TM)Time Release THC+CBD Delivery Topical Relief Cream throughout Canada. According to the announcement, Grapefruit plans to file a Notice of New Cannabis Product (“NNCP”) with Health Canada; the notice includes specific information regarding the Hourglass production process. Once GPFT receives NNCP approval, the company anticipates launching its Hourglass Time Release THC+CBD Delivery Cream across Canada. “We are very encouraged by 6PAKS’ decision to form an alliance with Grapefruit to take the initial steps toward obtaining Canadian regulatory approval to bring Grapefruit’s patented time-release THC+CBD topical delivery cream to all Canadians,” said Grapefruit CEO and co-founder Bradley J. Yourist in the press release. “6PAK Solutions’ expertise in this area is unrivaled and assures Grapefruit will bring a fully compliant cannabis product to market in Canada. 6PAK is also a subsidiary of ATG Pharma, Inc., a leader in regulatory compliant filling and packaging for the cannabis industry in Canada, so we are in good hands indeed. Our team looks forward to working with Chris Shar and his team in the coming weeks to achieve our corporate goal of introducing Hourglass™ across the entire nation of Canada in the third quarter of 2021.”

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

About Grapefruit USA Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, California. To find out more about the company, please visit www.GrapefruitBlvd.com.

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

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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420 with CNW — Marijuana Could Fuel Novel Food Culture

For decades, plants within the Cannabis Sativa family have been associated with marijuana and its infamous “high.” Even as the state-legal cannabis industry becomes larger and more lucrative, THC (delta-9 tetrahydrocannabinol), the compound responsible for marijuana’s intoxication, has taken center stage. However, cannabis and hemp are extremely versatile and have a wide variety of applications ranging from textiles and construction to health and wellness.

Cannabis is undoubtedly one of the fastest-growing industries in the country, with Ben Larson, CEO of Oakland, California-based firm Vertosa calling it the most exciting growth opportunity since the advent of the internet. Vertosa is a technology company that specializes in deriving ingredients from cannabis for food and beverage manufacturers. During The Future of Food @ SXFW event, which was held virtually from March 18–21, Larson said that cannabis and hemp may be at the heart of a novel food culture in the future.

With his company focusing on beverages infused with cannabis and hemp extracts, Larson pointed out that with all the money being invested into cannabis beverages, the space is looking at a lucrative future. With its versatility, cannabis isn’t just confined to beverages, he says, stating that its applications in health and wellness, athletics and even pet care present an extremely attractive opportunity for growth.

Mario Rodriguez, the owner of New York-based Bootleg Avocado LLC agrees. Rodriguez moderated the SXSW session titled “Cannabis: The Catalyst for New Food Culture,” and he believes that the time has come for the world to dissociate cannabis from the stigma of being an illicit drug and uncover its plethora of food and beverage applications.

In fact, several companies have already jumped onto the bandwagon, producing cannabis beverages that prioritize wellness over intoxication. For instance, Innoviom, which is based in Stamford, Connecticut, has developed a line of beverages called Tranquini Wowie that contains 20 mg of hemp as well as adaptogens such as lavender, chamomile and lemon balm. Designed to offer quick relief from stress and anxiety, a single 12-oz can of the relaxation beverage contains 20 calories. According to CEO Ahmed ElAzizi, Tranquini Wowie can take you from “hectic to hanging loose” without the drowsiness associated with cannabis. In Venice, California, Cann & Bolt Co. has created a nonalcoholic beverage infused with THC and CBD. It leaves users feeling invigorated and gives them a slight buzz thanks to the THC.

Over in Santa Fe, New Mexico, Verde Juice Co. has a line of high-pressure and cold-pressed functional teas and juice beverages that are made using whole hemp leaf juice. Each 10-oz bottle has 12 mg of CBD, less than 1 mg of THC and 35 calories with no added sugar. With companies conducting more research into cannabinoids, terpenes and flavonoids, they are bound to come up with different combinations that will create new dynamic experiences.

Scottsdale, Arizona-based The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) also has a line of CBD-infused products, including drinks, being marketed across the country. This goes to show just how fast the cannabis food culture is growing, with much more to come.

NOTE TO INVESTORS: The latest news and updates relating to The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) are available in the company’s newsroom at http://cnw.fm/WTER

About CNW420

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

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420 with CNW — Why Each Strain of Marijuana Is Actually a Hybrid

You’ve probably heard of people referring to marijuana as either indica or sativa, but do you know what the terms actually mean? Contrary to popular opinion, sativa and indica are botany terms that describe the observable physical traits of a marijuana plant and not the effects they induce.

If you were to trace any strain of marijuana back to its original genetics, you’d end up with landrace strains, which are basically marijuana strains whose genetics stabilized and evolved in their natural environments in different parts of the world. Examples of such strains include Thailand’s Chocolate Thai, Mexico’s Acapulco Gold and South Africa’s Durban Poison.

Botanists utilized the terms ruderalis, sativa and indica to classify strains that exhibited different physical characteristics. For instance, Cannabis ruderalis was classified by D.E. Janischewsky, a Russian botanist in the early 1920s, while Cannabis sativa was coined by Carl Linnaeus, a Swedish botanist who was studying European plants in the early 1750s. On the other hand, Cannabis indica was classified by Jean-Baptiste Lamarck who had been studying Indian strains in the mid-1780s.

While ruderalis plants have thick, big leaves and more CBD than do indica and sativa, indica has dense flowers and is usually bushy and wide while sativas are lanky and tall with skinny leaves. In the present day, indica describes strains that you can use to fall asleep, slow down or relax while sativas have been labeled as strains that offer you the mental high needed for focus and creativity.

In dispensaries, the term hybrid is meant to show you strains that possess effects of both sativa and indica. However, a hybrid actually means a strain bred from various strain varieties and one that has inherited favorable characteristics. This means that while products are still labelled as either hybrids, indicas or sativas, the truth is that every single marijuana product smoked today is a hybrid.

Insane OG, Green Thumb Farmz and Dr. Greenthumbs lead cultivator Kenji Fujishima explains this by pointing to Runtz, a popular strain, which is a cross of Gelatto#33 and Zkittlez; both of those are crosses of Thin Mint GSC x Sunset Sherbert and Grapefruit and Grape Ape respectively. Fujishima notes that all hybrids are simply hybrids from other hybrids, despite the marketing behind indica and sativa strains.

While these differences are well known to brands and growers, the sativa/indica dichotomy may be a bit harder for consumers to let go of, with a 2019 report by Weedmaps finding that brands that have tried to stop using the aforementioned terms have confused their customers, who prefer the simple classification that the sativa and indica provide.

Other companies such as Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) (FSE: 4XM) have an extensive library of high-end genetics that they leverage to come up with premium products that are cementing their position in the market.

NOTE TO INVESTORS: The latest news and updates relating to Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) (FSE: 4XM) are available in the company’s newsroom at http://cnw.fm/PACR

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CannabisNewsBreaks – Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) Positioned for Record 2021 Revenue

Chalice Brands (CSE: CHAL) (OTCQB: CHALF) is a consumer-driven cannabis company that recently announced the acquisition of a five-store retail chain (Homegrown Oregon). A Fundamental Research Corp. report initiated coverage for the company, issuing BUY rating and a fair value estimate of C$2.46. The report noted that Chalice Brands’ new management, which includes key team members from Fortune 25 companies, demonstrated their ability by significantly growing CHAL’s revenue and margins in 2020. “The report also pointed to CHAL’s 2020 revenues, which were $22 million, a 39% year-over-year increase through organic growth, as well as the fact that its Q4 2020 numbers noted positive EBITDA,” reads a recent article. “Another testimonial for the team is that all of their stores have very good customer ratings. We are expecting record revenue in 2021, driven by organic growth and the recent acquisition. We are expecting a bump in valuations of U.S. cannabis players as the sector moves closer to federal legalization.”

To view the full article, visit https://cnw.fm/cTl75

About Chalice Brands Ltd.

Chalice Brands is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution, and retail, with 12 dispensaries in Portland, Oregon. The company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. Chalice Brands operates nationally through Fifth and Root and has operations in Oregon and California. Visit https://Investors.ChaliceBrandsLtd.com for regular updates.

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

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.’s (CSE: BEV) (OTCQB: BVNNF) (FSE:7BC) TRACE Meets New Demographic Through Strategic Agreement

BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health and wellness beverage and natural products company, recently announced expanded distribution of its TRACE products into the United States through a new agreement with leading wholesaler Benefit Brand Management. BevCanna creates, manufactures and globally distributes iconic beverages that resonate with health-conscious consumers. Its TRACE line of beverages and nutraceuticals are sourced from deep within the Rocky Mountains of interior British Columbia and developed based on a proprietary plant-based formula rich in iron, magnesium, calcium and potassium. The products are designed to appeal to consumers seeking mineral supplementation as a result of deficiencies in the modern food supply. A recent article discussing the expansion quotes BevCanna President Melise Panetta. “With demand for wellness-focused beverages rapidly increasing among U.S. consumers, this is the ideal time to introduce the TRACE brand to a whole new demographic,” Panetta said. “We’re very excited to work with Benefit on launching the brand, capitalizing on their extensive network and detailed knowledge of the natural products retail landscape in the U.S.”

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

About BevCanna Enterprises Inc.

BevCanna Enterprises is a diversified health and wellness beverage and natural products company. BevCanna develops and manufactures a range of 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 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 capacity of up to 210M 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, visit www.BevCanna.com.

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

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420 with CNW — Senators Urge Banking Committee Chair to Call Vote on SAFE Banking Act

The state-legal cannabis industry in America has come a long way despite being just a decade or so old. It has employed hundreds of thousands of individuals, generated billions of dollars in revenue, and filled state coffers with millions of dollars in tax revenue. Cannabis is still considered a Schedule I controlled substance at the federal level, however, and this classification has consistently been a thorn in the sector’s side.

Fearing reprisals from the federal government, banking institutions refuse to work with state-legal cannabis businesses, forcing them to operate on a cash-only basis, among other things. The Secure and Fair Enforcement (“SAFE”) Banking Act, a legislation that seeks to protect banks which that transact with businesses in the cannabis space, hasn’t had as much luck in the Senate. As such, bill sponsors Senators Jeff Merkley and Steve Daines have sent a letter to Senate Banking Committee Chairman Sherrod Brown urging him to put the legislation to a vote.

This is not just an issue of granting businesses in the cannabis space access to banking services, they say, but also a public safety issue. Since these establishments are forced to operate on a cash-only basis, they often have large sums of money on premises, puts employees at risk of robberies and armed burglaries. In fact, the two cited cases of theft at cannabis dispensaries in their home states.

Thus, they say, they owe it to their constituents to put the SAFE Banking Act to a vote and “further the legislative process.” The banking legislation was reintroduced to the senate three months ago, and since then, it has not been subject to a hearing. However, lawmakers in the House of Representatives passed the bill for the fourth time this April. The public letter, which was also addressed to Senator Pat Toomey, a ranking member in the Senate Banking Committee, may be an indication that private requests to Senator Brown to hold a markup on the bill may have gone unheard.

While Brown had previously stated that he would like to tie cannabis sentencing reform together with the banking bill, recent comments show that he isn’t married to the idea. He has also said that he had discussions with Senate leadership about merging it with a broader cannabis legalization reform that is currently being drafted by Senate Majority Leader Chuck Schumer. However, Schumer has stated that he doesn’t want to pass a banking bill, which he says puts industry interests first without advancing a bill addressing social equity.

Some form of cannabis policy reform at the federal level would be a great help to the entire industry, including Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), as some of the regulatory conflicts between state law and federal law would be clarified.

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 — Oregon Marijuana Tax Collection Shatters Annual Record with Two Months to Spare

Marijuana tax collections in the state of Oregon have hit a new fiscal year record, having collected $15 million in April this year, which brings the total to about $146 million. Last year, the state of Oregon collected a total of roughly $133 million in taxes.

At the start of the pandemic, marijuana sales in Oregon increased by 52% in the April to June period, in comparison with the April to June 2019 sales. In the two quarters that followed, increases of roughly 38% were also observed.

Economists in the state acknowledged that at the start of this year, sales rose once more, totaling more than $100 million. This amount, which was made up of $8.7 million in medical use and $91.5 million in adult-use marijuana, accounts for a 46% increase, in comparison with figures from January 2020.

As can be seen above, marijuana sales increased at the onset of the pandemic, slowed down towards the end of last year before steadily rising once more at the start of 2021. This move surprised economists in the state, who had expected marijuana sales to decrease as more people began to go back to work, the economy gradually reopened and other spending opportunities were presented.

The most recent forecast released by the state’s Office of Economic Analysts noted that predictions showed that short-term sales would improve as a result of strong household finances, an economy without fully reopened entertainment options and the ongoing coronavirus pandemic. In addition to this, economists stated that they expected marijuana sales to diminish in the fall as the aforementioned issues faded, noting that in the long term, the state’s marijuana industry would flourish once more.

In their updated forecast, the economists assert that the growth rates projected in the long run align with the office’s personal income outlook, which took into consideration wage gains and the increasing population, arguing that they were the primary drivers of recreational cannabis sales in the future. This, in dollar terms, equates to an extra $21 million prediction for the 2021–2023 period. These figures are in comparison to last year’s forecast, which cited $298 million as the forecast for the 2021–2023 biennium.

Additionally, the economists’ forecast from three months ago for the same period stood at $354 million.

Presently, the state of Oregon taxes retail marijuana sales at 17%, with local governments being allowed to add their own tax, which should not exceed 3%.

Credit can be given to cannabis sector players such as Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) that have availed products found to be worthy enough by the state residents, hence the record-setting taxes paid with the purchases made.

NOTE TO INVESTORS: The latest news and updates relating to Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) are available in the company’s newsroom at https://cnw.fm/CHALF

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CannabisNewsBreaks – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Enters Medicinal Cannabis Space Through Strategic Agreement

Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, together with Canada House Wellness Group (CSE: CHV), a fully integrated medical cannabis company, have entered into a medical supply agreement. Under the agreement, Canada House’s wholly owned subsidiary, Abba Medix Corp., will purchase Pure Extracts’ full line of concentrate products for sale to its established medical patient base. “This agreement marks our entry into the medical cannabis space, which will make a significant revenue contribution starting in Q4 and ramping-up in 2022,” said Pure Extracts’ CEO Ben Nikolaevsky. “Abba’s extensive military and medical customer base along with their popular online portal allows us to quickly and efficiently get our outstanding line of full spectrum oil (‘FSO’) CBD and THC vape products and our blister-packaged gummie products, including our ultra-high potency 100 mg CBD chews, to their patients across Canada.”

To view the full press release, visit https://cnw.fm/e3cx4

About Pure Extracts Technologies Corp.

Pure Extracts features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. Health Canada, under the Cannabis Act, granted Pure Extracts its Standard Processing License on Sept. 25, 2020. The company’s stock began trading on the Canadian Securities Exchange (“CSE”) on Nov. 5, 2020. For more information, visit the company’s website at www.PureExtractsCorp.com.

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

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Featured in Editorial as ‘Super State’ Operator

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, is spotlighted in an editorial broadcast titled “A Lesson in Cannabis: Second Mover Can Be Better Position.” A press release announcing the broadcast observes that, while many look at first-mover status as an optimal position, there can be some advantages to learning from those acting first in an industry. “Look what happened to MySpace and AIM (AOL Instant Messenger) as they faded to irrelevance as Snapchat, TikTok and Instagram exploded in popularity to challenge incumbent platforms,” the press release states. “Second movers can enjoy advantages as they learn from pioneering entities that paved the way. Specific to the cannabis business, there is no shortage of companies that learned from sad experience the price to pay for expanding too fast, overpaying for acquisitions, or building a business a mile wide and a foot deep. Red White & Bloom Brands Inc. is a compelling mix of old and new that is methodically building a commanding position in the United States as a multi-state operator (‘MSO’). In fact, the company refers to itself as a ‘super state operator,’ a reflection of its strategy to remain hyperfocused on dominating specific markets before expanding to others, which ensures it doesn’t get spread too thin.”

To view the full press release, visit https://cnw.fm/S3wjN

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.

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420 with CNW — As States Legalize Cannabis, Federal Trafficking Cases Dwindel

A recent analysis conducted by the U.S. Sentencing Commission (“USSC”) has observed a decline in the number of federal cannabis trafficking cases from last year as more states legalize cannabis. The organization, which is an independent agency of the government’s judicial branch, conducted an analysis of the number of drug trafficking convictions and discovered that last year, there were 1,118 marijuana cases, a 67% decline from the numbers recorded since 2016.

Advocates of legalization maintain that the year-over-year decrease correlates with the increasing number of states that have enacted legalization, in addition to reflecting the deprioritization of the feds in pursuing marijuana cases. The USSC stated that generally, just over 16,500 convictions involved drugs last year. Of this number, cannabis cases made up about 7%. In addition, the USCC noted that 4% of the marijuana trafficking sentences were for over a decade, 16% were for a period between 5 to 10 years, while the majority — a whopping 80% — was five years or less.

This report by the USSC is the latest to provide data demonstrating that the state-level cannabis movement’s success corresponds to a decrease in federal marijuana cases. Advocates state that as more legalization laws are enacted, the market for illegal marijuana, which is usually brought in from Mexico, will dry up. This will in turn lead to fewer trafficking cases to be pursued by federal prosecutors.

A separate report that was released in December 2020 by Supreme Court Chief Justice John Roberts found that while cases which involve cannabis decreased by more than a quarter in 2019, federal prosecutions of crimes associated with drugs increased. Additionally, another study released in 2018 by the Cato Institute reported that state-level cannabis legalization had considerably weakened cannabis smuggling. Furthermore, data released by the Federal Bureau of Investigation late last year demonstrated that for the first time in four years, marijuana arrests had decreased on a national level.

These trends may likely continue this year, as the attorney general is of the opinion that the Department of Justice’s limited resources shouldn’t be used in low-level cannabis enforcement. In addition to this, more states are working on ending cannabis prohibition. Concurrently, congressional legislators are also working on legalizing the plant at the federal level.

Legislation to federally legalize marijuana, which was approved by the House in 2020, has been amended and re-introduced by Jerrold Nadler, chair of the Judiciary Committee. Additionally, Senate Majority Leader Chuck Schumer in April revealed that a bill to federally legalize cannabis would be introduced to the chamber in the near future.

If efforts to reform cannabis policy at the federal level succeed, sector players such as Hero Technologies Inc. (OTC: HENC) will have fewer hurdles to contend with in its day-to-day operations.

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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