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 — Worldwide Increases in Lumber Prices Could Boost the Hemp Industry

Talk about construction and you inevitably end up talking about lumber. Lumber has for long been a popular and essential construction material, with concrete taking pole position on the most popular material list. Everything from houses, bridges and even wagons have been fashioned out of wood, and each culture has its own unique products made from wood. However, all that is now being threatened by the skyrocketing price of lumber, and hemp may come to the rescue.

Visit any lumberyard to buy pieces of timber, and chances are you will suffer a case of sticker shock. Using data from NASDAQ as a case in point, the price of lumber almost tripled in 2020. Fortunately for the global construction industry, an ecofriendly alternative to lumber exists: hemp.

Interestingly, most people immediately think of cannabidiol (“CBD”) when hemp is mentioned. This is because the past couple of years has seen interest in CBD skyrocket, and most CBD is extracted from hemp since hemp is federally legal because it has only miniscule quantities of THC, the compound which makes users of marijuana high. Hemp and marijuana belong to the same cannabis family.

Some people are aware that clothing, rope and paper can also be processed from hemp. However, another application of hemp — using it as a construction material — is likely to grow in popularity partly as a result of the rate at which lumber prices are rising.

For starters, the woody fibers found inside the hemp plant can be processed into hemp boards. These boards are similar to the boards made from wood. Hemp can also be made into “hempcrete,” an ecofriendly alternative to concrete. Hempcrete has a number of benefits, including its resistance to pest attacks and superior fire resistance. As awareness grows about these benefits, more people will choose this material over the traditional construction materials in current use.

A barrier that has kept hempcrete in the realm of niche construction materials has been its relatively high cost. However, as the price of lumber inches upward, a point will be reached when parity is attained with regard to the cost of these two materials. At that point, the use of hempcrete is likely to explode as cost will no longer be a barrier.

Considering the fact that hemp grows rather fast, it isn’t hard to imagine that as its use as a construction material becomes widespread, economies of scale will kick in, and the material may become a material of choice in years to come.

As the uptake of hemp in the construction sector grows, cannabis industry actors such as Grapefruit USA Inc. (OTCQB: GPFT) could see another revenue stream open up from the fibrous residue after CBD and other cannabinoids have been extracted from hemp dry matter.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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 — Connecticut Legislators in Discussions with Governor about Marijuana Legalization

Gov. Ned Lamont will be meeting lawmakers in his office in the coming week to finalize negotiations on a plan to legalize cannabis in the state of Connecticut. A recent poll shows that the majority of voters in the state support the change in policy.

Enacting the reform, which has been an objective of various legislators as well as Lamont’s administration, has become a top priority now that the legislative session will be coming to a close less than a month from now.

Several meetings on the issue have been held to decide what a legal marijuana market should look like. Despite this, however, there are still a few things that need to be resolved. House Majority Leader Jason Rojas said that negotiations were currently focusing on the eligibility criteria to be used for social equity applicants. Any individual who could qualify as such would be afforded benefits in the process of marijuana business licensing.

Earlier this month, Matt Ritter, the House Speaker, stated that the legislature was open to discussing the issue during a special session in an attempt to sort out the differences between the legalization initiatives that had been presented by Lamont and legislators.

Marijuana advocates in the state are pleased with the discussions being conducted, with CURE CT policy director Jason Ortiz noting that it was encouraging to see legislators focusing on working to get things right. CURE CT is an advocacy group that supports the legalization of marijuana. Ortiz is also part of the legalization group assembled by the governor, which gave recommendations on social equity.

The aforementioned poll, which was conducted by the Sacred Heart University, shows that of the state’s residents, 64% are in favor of the legalization of adult use marijuana. Additionally, 62% of those who responded to the poll stated that they were in favor of the expungement of previous marijuana convictions while another 76%  were of the opinion that cannabis had fewer effects than alcohol.

The survey was conducted between April 20 and 26, 2021, and involved 1,000 residents in the state. Its results are consistent with past poll results on cannabis legalization.

Earlier in April, a measure to legalize adult use cannabis that was presented as part of the budget by Lamont was approved by the Judiciary Committee after a few amendments were made by the panel. Lamont revealed that if the initiative wasn’t enacted in 2021, it would be brought before voters on the state’s 2022 ballot.

It is good to see legislators and the governor doing their best to ensure that cannabis policy reform takes place. Such occurrences may offer hope to marijuana industry players such as Canada-based Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) (FSE: 4XM) that their US-based counterparts will one day have nearly uniform cannabis regulations governing all states as is the case across the border in Canada.

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

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 — Poll Shows Mississippi Voters Favor Impeaching Justices Who Voided Medical Marijuana Measure

A majority of Americans support legalizing cannabis, at least for medical purposes, and the numbers show it. In Mississippi, for instance, voters approved a ballot initiative to legalize medical marijuana in the state. The win was, however, overturned by the state Supreme Court after a city mayor filed a legal challenge against the citizens’ initiative, arguing that it violated procedural rules laid out by the constitution.

According to a poll undertaken shortly after the ruling went public, Mississippi voters are in favor of impeaching the judges who overturned the medical marijuana ballot initiative. Mississippi-based Chism Strategies, which had provided help to supporters of the now-void voters’ initiative, conducted the study. The company found that 60.9% of Mississippi voters were against the Supreme Court’s decision to overturn the initiative and entirely do away with the process of gathering signatures to allow voters to decide issues at the ballot.

Only 22% of the respondents supported the ruling while 59.6% felt that Miss. Governor Tate Reeves should call a special session to discuss medical marijuana. The thought of holding such a session has been on many people’s minds since the ruling, with inside sources saying that some lawmakers have already mentioned the issue to the governor’s office. House Speaker Phillip Gunn has voiced his support for a special session, stating that he believes that voters have the right to use the referendum and initiative process as it gives them a direct say in public policy issues.

More than 69% of the Mississippi residents polled had voted in favor of the medical cannabis initiative while 25.2% voted against it. The poll, which was conducted over mobile with landline and cell phone users, had a marginal error of 3.26%. According to Brad Chism from Chism Strategies, support for the medical cannabis ballot initiative was bipartisan with both Republicans and Democrats reacting with shock to the Supreme Court’s decision.

In fact, 52% of those polled revealed that they were “much” or “somewhat” less likely to vote for a lawmaker who supported legalizing medical marijuana in the state while under 30% were “much” or “somewhat” more likely to support a candidate who opposed medical marijuana. Additionally, 69.7% of Mississippi voters supported the idea of the legislature allowing a medical cannabis program similar to the one initiated by the voter-passed ballot initiative.

The decision to overturn the 2019 ballot initiative came after Mary Hawkins, mayor of the city of Madison, filed a lawsuit alleging that some procedural rules for placing measures on the ballot had been violated. The Supreme Court obliged and voided the medical marijuana initiative.

Cannabis industry actors such as The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) may empathize with the voters in Mississippi who saw their ballot decision go up in smoke on a technicality.

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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CannabisNewsBreaks – BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) Announces Distribution Agreement to Expand TRACE Products

BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health and wellness, beverage and natural products company, has finalized an agreement with Benefit Holdings LLC, dba Benefit Brand Management. Benefit Brand Management is a leading brand management company, and the contracts calls for Benefit to distribute BevCanna’s line of TRACE-branded products to U.S. retailers, starting in New York and Chicago, and also including the state of California. The contract will be enacted through BevCanna’s previously announced agreement with Riviera Beverages and is designed to speed up the expansion of the Naturo Group portfolio of market-leading ancient organic mineral beverages. Active in the food and beverage space for more than two decades, Benefit Brand Management focuses on natural and organic products. The company has assisted in the launch of several well-known brands in the space, including Kimnori, Hey Aloe, Pulp Story Juice and Cauli Crunch, a cauliflower-crumb breading product. “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,” said BevCanna president Melise Panetta in the press release. “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 press release, visit https://cnw.fm/hAKK4

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 bottling capacity of up to 210 million bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with number-one U.S. cannabis beverage company Keef Brands. For more information about the company, please visit www.BevCanna.com.

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

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 — Minnesota Legislators Vote to Expand State Medical Marijuana Program

Legislators in the state of Minnesota recently voted to allow the expansion of its medical marijuana program, which will permit patients to smoke the dried flower.

The state of Minnesota has allowed the use of medical marijuana since May 2014 when then-Gov. Mark Dayton signed into law a legislation that legalized cannabis for the treatment of several medical ailments, including Crohn’s disease, ALS, Tourette’s syndrome, glaucoma, HIV/AIDS, epilepsy and cancer. Despite this, it only permitted the use of the plant in pill, oil and liquid forms.

Medical marijuana activist Patrick McClellan stated that this latest move was an important change. He noted that it would also make it easier for him to afford the medication, as the cost of liquid marijuana was on the higher side. McClellan suffers from a rare form of muscular dystrophy and uses marijuana to manage it.

Maren Schroeder, who also uses medical marijuana, revealed that she had to part with $250 every month for medical marijuana and noted that she was excited to have the smokable option. She explained that this was because she could obtain the plant legally, adding that this meant that the product she would consume had been tested in labs and wasn’t contaminated with herbicides, pesticides or mold.

The state’s allowing the use of the unprocessed marijuana plant is also expected to decrease the cost for patients in the medical marijuana program, which will make the product more accessible.

Senate Health and Human Services Committee chair Sen. Michelle Benson asserted that the change would help many patients. During a debate in the Senate earlier this week, Benson had explained that the committee’s objective was to make the plant available to individuals with a medical need who couldn’t afford it.

The medical marijuana law is scheduled to take effect once a system for testing the dried raw marijuana from the existing manufacturers in the state has been established, or by March 1 next year.

Ryan Winkler, the DFL House majority leader who backed the full-legalization effort, heralded the medical marijuana change. He stated that by allowing the use of dried raw marijuana, which was cheaper to produce, the cost of existing products would decrease.

However, not everyone seemed to be on board with the idea. For instance, Rep. Tim Miller opposed the medical marijuana provision in the House, claiming that the move wasn’t entirely honest and hadn’t gone through the right channels.

As the state’s medical cannabis program expands, patients and the entire state will benefit in the same way as the states that have enacted laws deemed relatively investment-friendly for operators such as Hero Technologies Inc. (OTC: HENC). The more operators a state has, the more competitively priced cannabis products are likely to be.

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

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 — Alabama Governor Appends Signature to Medical Cannabis Legalization Bill

Medical marijuana patients in the state of Alabama have something to be happy about after Governor Kay Ivey signed a medical cannabis bill that was sent to her desk last month after gaining the Legislature’s approval. The bill, which had cleared two House Committees before heading to the Senate for its final approval, was sponsored by Senator Tim Nelson. On top of allowing patients with qualifying conditions to access medical marijuana, the bill would also establish a commission to oversee licensing and implement the regulations for the state’s medical cannabis program.

When the legislation first hit Ivey’s desk, she said she hoped to sign it after doing a thorough review of its provisions. While she was aware of cannabis’ purported health benefits, she still had some misgivings and didn’t want the situation to get out of control. A spokesperson from her office said that medical marijuana was an emotional and sensitive issue that was dear to many people’s hearts, and the governor would give it the diligence it deserves.

Rather than propose line-item amendments as some lawmakers thought she may, Ivey signed bill SB 46 into law as is. In a press statement, she reiterated that medical marijuana is a sensitive and emotional issue and that signing the bill was a significant first step. She was especially interested in marijuana’s ability to help individuals with chronic illnesses and those who are suffering from terminal conditions. Ivey acknowledged that a lot more research is required and that the state will continue studying and researching to ensure it runs a safe, productive and responsible medical marijuana program.

Although the bill that Ivey signed into law is pretty restrictive in comparison to other state medical marijuana programs, it is certainly better than nothing. Patients suffering from one of twenty qualifying conditions, including post-traumatic stress disorder (“PTSD”), intractable pain, sleep disorders, and anxiety, will be granted access to medical cannabis. However, regulators would not be able to independently add to the list of qualifying conditions; this decision will be left to lawmakers.

Additionally, SB 46 doesn’t allow raw cannabis flower, smoking, vaping and cannabis-infused baked goods. Patients will be restricted to oils, lozenges, capsules, topical patches and suppositories. Physicians would be required to take a four-hour continuing course and pass an exam to be able to recommend medical cannabis to their patients. The course would cost more than $500, and physicians would have to retake it every two years.

Now that Alabama is easing some of its most stringent restrictions regarding the scope of the medical marijuana program, the state is on course to close the gap, from a regulatory standpoint, with more mature markets where entities such as Sonoma Biologics Corp. operate.

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

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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CannabisNewsBreaks – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Announces White Label Agreement with BC-Based FLO Brands

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, has signed a customer manufacturing/white label agreement through its wholly owned subsidiary, Pure Extracts Manufacturing Corp. The agreement, which is with boutique brand house FLO Brands Inc., involves a partnership to launch a line of cannabis vape products. FLO Brands is dedicated to creating state-of-the-art, cannabis-based products using BC’s finest genetics. The agreement between Pure Extracts and FLO Brands outlines the initial production of 3 SKUs of 0.5 gram, 510 vape cartridges. These exclusive products will be manufactured using Pure Extracts’ 30-plus proprietary formulations. In addition to co-manufacturing the products, Pure Extracts will be providing all sales and distribution services, including labelling, packaging, applying of excise stamps and shipping. “We are excited about launching a white label product with our new partner, FLO Brands, a fellow BC company,” said Pure Extracts CEO Ben Nikolaevsky. “They have enormous capacity to create new cannabis products as the market matures here in Canada and consumer tastes evolve. With the addition of FLO and the increased capacity and flexibility our new cosolvent injection system provides, we have begun to execute our strategy with craft producers and branding specialists to get their white label products into the provincial dispensaries and drive up to $3 million of annual revenue from this vertical.”

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

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. On Sept. 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act. In addition, the company’s stock began trading on the Canadian Securities Exchange (“CSE”) on Nov. 5, 2020. For more information about the company, please visit 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

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 — How the State of New York Plans to Tax Marijuana

Last month, New York Gov. Andrew Cuomo approved a legislation legalizing marijuana and its possession for individuals aged 21 and above in the states. However, the substance will not be available for legal sale until 2022. The governor and his aides expect that this move will create 60,000 employment opportunities while generating roughly $350 million in tax revenue once the industry’s up and running.

While the proposed tax for recreational cannabis in the state isn’t as high as Washington, DC’s tax on the substance, it is higher than the average of the 15 states that have legalized the herb as well.

Similar to other states that have legalized cannabis, the state of New York is planning on combining wholesale tax, which encompasses distribution and production with retail taxes, which includes sales and excise tax. The proposed tax rate, 13%, is lower than the 20% that the governor had initially proposed.

The difference is seen when one looks at how products will be taxed. Unlike other states, which based the wholesale tax on factors such as volume or weight, the state of New York is planning to base its wholesale tax on the THC amount in products.

This makes it the first state in the country to tax THC levels, which makes it hard to pinpoint exactly where the state will rank in overall cannabis taxes when legal sales commence, with many noting that it may end up with higher taxes in comparison with neighbor states such as Massachusetts, Vermont and New Jersey.

A report on THC tax and its consequences, which has been co-authored by Castetter Cannabis Group, highlights how imposing a THC tax may make it more complex to pay taxes because calculations will be made on how THC level will be measured, how it will be assessed and who will pay the tax. A clause in the report also raises concern that the tax may favor large-scale producers at the expense of small-scale producers.

However, there are those who believe that taxing products based on THC is a good move. One of them, marijuana law specialist Rob DiPisa, states that the levels of THC are growing more important as the marijuana industry moves into edible products and concentrates. DiPisa notes that New York may be focused on THC as it drives the growth and value in the industry, adding that it may set a trend that other states will follow.

Experts also note that while the wholesale THC-based tax has been written into law, it’s difficult to see how it will work without regulations to clarify several issues.

As the recreational cannabis market takes shape in New York, industry players in other jurisdictions have moved to the level of formulating therapeutic products that could gain FDA approval in the not-so-distant future. A case in point is XPhyto Therapeutic Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), which so far has three candidates at different stages of development.

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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420 with CNW — CBD Firm’s Appeal Could Allow Cannabis, Psychedelics Companies to Get Trademarks Before Legalization

The 2018 farm bill legalized industrial hemp, which is a nonpsychoactive version of cannabis, and its derivatives for cultivation and sale. The law stipulated that, as long as individuals had official approval from their states or tribes, they could cultivate hemp and sell it for use in everything from textiles and clothing to concentrates. Thanks to the federal status of hemp and cannabis, businesses in the space cannot trademark their products — but this may soon change.

A CBD company that recently fell afoul of this regulation is now appealing, and if the company wins, the ruling could have implications across industries dependent on soon-to-be legal products such as cannabis and psychedelics. Joy Tea, a company that markets hemp-derived tea, had tried to secure a trademark with the U.S. Patent and Trademark Office (“USPTO”) only to be denied. According to USPTO, the lawfulness of goods isn’t determined by what the law at the federal level may be months or years from now but at the time of the application.

So, even if a company anticipates that CBD beverages or any other product will be legalized in the future, the application will not be registrable. Even though Congress had already legalized CBD via the farm bill in 2018, the USPTO denied Joy Tea’s application because the U.S. Food and Drug Administration (“FDA”) still doesn’t allow marketing cannabinoids in dietary supplements or food items.

Joy Tea’s attorney Larry Sandell argues that it was improper for the federal agency to deny Joy Tea a trademark registration. Sandell, who is an intellectual property attorney at Mei & Mark LLP, says trademarks are meant to protect a company’s ideas as the company prepares itself for the market. For instance, companies in the pharmaceutical space can obtain trademark registration for a formulation to protect it from theft while they are still working on the product.

Countering that argument, the USPTO said that while this is true, the comparison is misleading as pharmaceuticals are not unlawful, per se. Since Joy Tea’s CBD-based beverages do not have FDA approval, the USPTO says that the beverages are not only unapproved but unlawful. Thus, Joy Tea is seeking an appeal against the ruling, and if it is successful, the effects will reverberate far and wide.

If Joy Tea succeeds, companies will be able to trademark products that currently aren’t legal at the federal level, making these spaces a lot more desirable for startups and established businesses. If the company loses its case, businesses in cannabis, psychedelics and other such industries will be stuck in a “terrible spot,” Sandell says.

The outcome of this appeal may have far-reaching consequences in the cannabis sector, and it remains to be seen how a successful appeal may spur innovation at firms such as RYAH Group Inc. (CSE: RYAH), which already has a sizeable portfolio of innovative products.

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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CannabisNewsBreaks – BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE:7BC) Enters Agreement to Infuse Products with Game-Changing Emulsion Technology

BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), an emerging leader in innovative health and wellness beverages and products, today announced its entry into a cannabis supply agreement with ABcann Medicinals Inc., a wholly owned subsidiary of VIVO Cannabis Inc. (TSX: VIVO), to infuse Vertosa cannabis emulsions into select BevCanna in-house and white-label products. This will include infusions into the Keef Brands line that BevCanna will launch in Canada this summer. “This emulsion technology will be game-changing in its ability to accelerate onset time and enhance the sensory experience of our cannabis-infused beverages, among other benefits,” said Melise Panetta, president of BevCanna. “We’re working closely with the Vertosa and ABcann teams to create a range of best-in-class beverages that we’re very excited to launch across Canada this summer.”

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

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 bottling 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

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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