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 — California Earmarks $100M to Support Licensed Cannabis Firms During Pandemic

For many states with legal cannabis markets, one of the objectives of legalizing the controversial drug was to cripple the illicit cannabis market by taking away its clientele. While that sounds like a great idea in theory, most of these states have been unable to do any real damage to the illegal market so far. Not only do black market sellers tend to price their cannabis cheaply, but they don’t have to jump through a wide variety of hoops to start selling, and this ensures the black market has an unending supply of affordable cannabis.

California, for instance, legalized marijuana back in 2016, but a mere four years later, the state’s illicit cannabis market has more than three times the number of registered cannabis sellers. Consequently, the state has earmarked $100 million towards supporting its struggling cannabis industry amid the coronavirus and subsequent financial crisis. State Governor Gavin Newsom proposed a measure that would see these funds used to help businesses in the cannabis space turn their provisional licenses into permanent licenses, and it was recently approved by the legislature.

According to Newsom’s office, around 82% of licensed businesses hold provisional licenses, with most cannabis businesses being unable to convert those licenses to permanent ones due to the high costs involved. The state requires permanent license holders to run their businesses in a way that has minimal to zero negative environmental impact, and this usually leads to higher annual operational costs. As many of the registered operators are equity applicants, small businesses and legacy operators, says Newsom’s senior cannabis advisor Nicole Elliot, these costs are often more than they can handle, preventing them from obtaining permanent licenses.

This one-time $100 million grant will be used to help cities in the state employ professionals and staff to assist with the process of turning provisional licenses into permanent ones as well as to aid in business operations. Los Angeles alone will receive $22 million, with the rest of the funds going to cities such as Oakland, San Francisco, Adelanto, Commerce and Desert Hot Springs. Matt Hawkins, managing partner at Entourage Effect Capital and the board chair at Harborside, says the grant will help ease the financial burden on legal companies and allow regulators to process the backlog of licenses much faster.

Newsom has also thrown his weight behind a measure that would extend the Jan. 6, 2022, deadline to apply for provisional licenses by six months. However, it wasn’t included in the most recent state budget bill, and lawmakers are still discussing it.

It is heartwarming to sector players such as XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) to learn that some jurisdictions are taking steps to support the cannabis industry during the pandemic. This is a far cry from the stance of the federal government, which doesn’t recognize state-level cannabis firms as legitimate business concerns.

NOTE TO INVESTORS: The latest news and updates relating to XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) are available in the company’s newsroom at https://cnw.fm/XPHYF

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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CBDNewsBreaks – Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) Names New Chief Integration Officer, Fifth & Root GM

Chalice Brands (CSE: CHAL) (OTCQB: CHALF), a premier consumer-driven cannabis company formerly known as Golden Leaf Holdings Ltd., has announced the appointment of a new member of management. Ginger Mollo will served as chief integration office for Chalice Brands and general manager for Fifth & Root; a nationally recognized CBD skincare brand. In her new roles, Mollo will oversee positioning and growing the Fifth & Root Brand within the health and wellness beauty market in addition to integrating the products within the Chalice brands. A veteran in retail and company development, Mollo has worked at companies such as Limited Brands and Apple, where she helped create the Apple stores. CHALF has also retained MP- Integrated Marketing Communications (“MP-IMC”); the company will assist with Fifth & Root public relations, marketing communications and brand building efforts. “We are thrilled to add Ginger, the woman who had her fingertips on Apple stores, bring us her high-achieving, goal-focused, and innovative mover-and-shaker expertise, with over 20 years of retail experience to Fifth & Root,” said Chalice Brands CEO and president Jeff Yapp in the press release. “We look forward to benefitting from Ginger’s experience in the progressive retail space to elevate the structure and style of Fifth & Root to the next level. She brings many years of interpersonal communication, collaborative problem solving and critical thinking to the leadership team. . . . We are [also] pleased to announce that we have engaged MP-IMC to heighten the profile of Fifth & Root in our Chalice Brands product portfolio. We look forward to working with Melissa and her team to enhance the essence of Fifth & Root.”

To view the full press release, visit https://cnw.fm/mu1Am

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 operates nationally through Fifth & Root and has operations in Oregon and California. For more information about the company, visit https://investors.ChaliceBrandsLtd.com.

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

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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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

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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.

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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.

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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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