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 – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Signs Agreement with Leading Cannabis Sales Agency

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, through its wholly owned subsidiary, Pure Extracts Manufacturing Corp., is partnering with Cannavolve Inc. The agreement between Pure Extracts and Cannavolve, one of Canada’s premier adult recreational cannabis retail sales agencies, outlines a national cannabis sales solution; Cannavolve will also oversee field-level sales and in-store product knowledge training. In the announcement, Cannavolve officials pointed to the company’s strong track record of building brands in Canada and noted that it looks forward look forward to being part of Pure Extracts’ national growth. “With approximately 2,000 licensed cannabis retailers in Canada and over 650 in each of Ontario and Alberta alone, we are pleased to have entered into this sales representation agreement with an established agency like Cannavolve with their boots-on-the-ground presence in every province,” said Pure Extracts CEO Ben Nikolaevsky in the press release. “There is no substitute for having a regular, in-person, sales presence at the actual point of purchase retail outlet where brand awareness originates.”

To view the full press release, visit https://cnw.fm/E0bVW

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/PULLcnw

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CanadianCannabisWire.com

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CannabisNewsBreaks – All-Risks Insurance Brokers Ltd Collaborates to Launch Market-Leading Retail Cannabis Store Insurance Program

All-Risks Insurance Brokers, a full-service insurance brokerage, and cannabis insurance broker Fady Kamel today announced a partnership with Senses Cannabis Group to launch an industry leading retail cannabis store insurance product through Burns & Wilcox, a globally recognized leader in wholesale insurance brokerage and underwriting. Senses Cannabis Group powers the largest network of cannabis stores in Ontario, providing group savings, distribution of retail displays, and technology and marketing consultations. In addition to the many current benefits, Senses Cannabis Group members can now take advantage of the insurance expertise of Fady Kamel, from the Erin Mills Branch of All-Risks, who has helped insure large cannabis-licensed producers, processors, consultants, brands and countless retailers. “We are excited to be partnering with Senses Cannabis Group to provide members with a tailored insurance product. The Senses Retail Network is the first of its kind in many ways, including free access for all members,” said Fady Kamel CIP, CRM. “Opening a cannabis store has many challenges and costs. To receive the highest level of service offerings free of charge, all while saving money, is unheard of in the cannabis Industry. Insurance policies will be underwritten through Burns & Wilcox, a globally recognized insurance industry leader, and together with our underwriting expertise and great value-added services we look forward to continue leading the way in the cannabis industry.”

To view the full press release, visit https://cnw.fm/vepa2

All-Risks Insurance Brokers Ltd

All-Risks Insurance Brokers is a full-service insurance brokerage offering a broad array of property, casualty, life, health and investment products and services. It offers customers a choice of high-quality insurance products from a number of reputable and financially secure insurance companies. All-Risks’ philosophy, of offering personalized service in a supportive environment, firmly avoids the industry trend toward an impersonal call centre experience. For more information, visit www.All-Risks.com.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CanadianCannabisWire.com

Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Researchers Debunk Lazy Stoner Mentality Surrounding Marijuana Use

A common notion that surrounds marijuana is that cannabis users are indolent individuals who are basically couch potatoes, vegging out while eating snacks in bed.

While the origins of this stereotype aren’t clear, we can at least agree that marijuana helps individuals sleep, which isn’t a bad thing now, is it? Especially if you consider that one-third of all people in America have sleep problems.

Now a recent study has found that it’s not only inaccurate to refer to stoners as lazy, but it’s also not true. As a matter of fact, the study found that frequent and light users of marijuana recorded more physical activity in comparison with non-users, which suggests that cannabis may actually boost physical activity.

The study, which featured more than 2,000 participants who were all adults, was reported in the Harm Reduction Journal.

Combined with prior research done by scientists from the University of Colorado, which discovered that marijuana assisted in exercise routines, these findings add to the already existing evidence that shows that most of the preconceived notions about marijuana users and the effect of the drug on individual’s lives are baseless.

This also means that in lieu of burdening hospitals, as prohibitionists and opponents of marijuana legalization propose, marijuana legalization may have a net positive influence on public health.

Scientists from the Herbert Wertheim School of Public Health and Longevity Science in San Diego as well as the University of California examined the responses submitted for the National Health and Nutrition Examination Survey conducted in the years 2005–2006. The participants of the survey not only had to fill out questionnaires but also have their activity levels measured by accelerometers, which are used to measure the intensity and length of physical activity.

The researchers noted that the study was the first to measure physical activity using accelerometers. In addition, the participants were also classified as either non-, frequent, moderate or light marijuana users. This was dependent on how much marijuana use they reported.

Researchers discovered that the general activity rates of marijuana users did not differ from that of individuals who didn’t use marijuana. They also wrote that in comparison with non-users, frequent marijuana users engaged in more physical activity.

It should be noted that there were some limitations observed by the researchers, among them the fact that marijuana users were younger and had lower BMIs in comparison with non-users. Additionally, half of the marijuana users reported that they smoked cigarettes.

The researchers also found that those who didn’t smoke tobacco were more active.

The scientific proof debunking the lazy stoner mentality couldn’t have come at a better time given that sector players such as RYAH Group Inc. (CSE: RYAH) have gone as far as making a smart inhaler that can help those taking medical marijuana track the dosage of what they consume.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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420 with CNW — Could Cannabis Legalization in New Mexico Hurt Nearby Colorado?

As more states legalize cannabis, the pioneers who launched the first state-legal cannabis sectors in the country may soon see their profits drop due to increasing competition. Colorado, for instance, has had a fantastic run so far. Its recreational cannabis industry has raked in nearly $10 billion dollars and filled the state’s coffers with billions of dollars in cannabis taxes. However, now that next door neighbor New Mexico has legalized recreational marijuana, some cannabis operators in Colorado fear their profit margins will start thinning once New Mexico launches its cannabis industry in 2022.

Colorado launched recreational cannabis sales in 2014, and since then, the state’s cannabis industry has been on fire. Not only has it earned business owners and the state billions of dollars, but it has also helped boost tourism numbers through “cannabis tourism.” Folks from around the country come to Colorado to sample the state’s cannabis products, and some dispensaries in border towns and cities such as Trinidad have come to rely a great deal on out-of-state visitors.

Were their home states to legalize cannabis, these visitors would have no reason to come all the way to Colorado. According to The Other Place is Greener Dispensary general manager Michael Evans, up to 65% of their customers are from out of state with 45% coming from Texas and 20% from New Mexico. When New Mexico launches its cannabis market, he says, his dispensary will be cut off at Raton Pass as customers wouldn’t have to drive all the way to border towns in Colorado for recreational cannabis. They could just get some at a location much closer to home.

Since cannabis business are extremely limited in where they can advertise or sell their products, losing such a large percentage of their clientele would be devastating. In Colorado, for instance, businesses in the cannabis space cannot sell their products at restaurants or clubs. Additionally, cities and municipalities are allowed to ban social consumption of cannabis, and in some cases, they can even forbid dispensaries from operating in their jurisdictions.

New Mexico, on the other hand, allows both indoor and outdoor “cannabis consumption areas,” and people will also be able to consume cannabis in designated casinos, hotels, tobacco stores and cigar bars. For most New Mexico residents who would like to consume cannabis, staying at home would be the much better option.

According to Evans, Colorado businesses that rely heavily on out-of-state visitors will have to offer those consumers incentives to keep them coming. This is the only way they will be able to maintain their sales as more states launch their own cannabis programs.

Cannabis companies such as Gage Growth Corp. (CSE: GAGE) (d.b.a. Gage Cannabis) in different parts of the country have generally learned to be resilient in the face of the challenges they face, so sector players in Colorado will likely find new ways to thrive despite losing a sizeable fraction of their clientele visiting from out of state.

NOTE TO INVESTORS: The latest news and updates relating to Gage Growth Corp. (CSE: GAGE) (d.b.a. Gage Cannabis) are available in the company’s newsroom at https://cnw.fm/GAGE

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 — How the Cannabis Industry Can Be More Sustainable

A casual look at the cannabis industry will reveal that the sector uses a lot of energy in grow rooms — so is the industry doomed to continue operating in ways that aren’t sustainable? Not at all — several ways are available to “green up” this sector as discussed below.

Switch to sustainable agricultural practices

One sustainable practice is installing a recirculation system for the water used in grow rooms. Such a system would not only capture but also treat any water that would have otherwise been lost as plants are irrigated. Lightshade, a Colorado-based integrated cannabis company, is already doing this, and company officials report they have trimmed their annual water requirement by 1.2 million gallons.

Switching to LED lighting or using a combination of sunlight and HPS lighting can reduce the energy bill significantly as Lost Coast, another Colorado-based marijuana company, will attest.

Cutting back on the use of pesticides and other synthetic agrochemicals will also protect waterways and land from the adverse effects of those chemicals. Growing cannabis organically through enriching soil health reduces cultivation costs while yielding superior products.

Opt for eco-friendly packaging

Each jurisdiction has its own cannabis rules that require the use of RFID tags, security bags and other such packaging restrictions. However, the rules aren’t an excuse to do things in a nonsustainable way, and cannabis companies can opt for sustainable packaging. This includes hemp plastics, glass containers or recycled plastic products.

Why not ask customers to return empty containers once they have used up the cannabis they bought? This will allow those containers to be reused rather than finding their way into landfills. Returning used containers to retailers provides a way for companies to ensure that materials that are recyclable are sent to the appropriate recycling facilities.

Look into sourcing alternative materials

Instead of cannabis users buying isopropyl alcohol to clean bowls and glass pipes, why not switch to a device that covers a pipe’s mouthpiece, thereby filtering out any germs that would have been transmitted to different users indulging as a group?

Moose Labs made such a device, dubbed MouthPeace, long before the pandemic was here, and vendors can be engaged in developing other such alternatives that reduce the carbon footprint of cannabis manufacturing or consumption.

As consumers become increasingly aware of the need to buy cannabis products that are sustainably grown, processed and packaged, going green will yield an even bigger financial dividend for operators who adopt these practices.

A number of companies, including the Chalice brands of Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF), have embraced organic cannabis cultivation, which shows that there is already movement towards sustainability in the industry.

NOTE TO INVESTORS: The latest news and updates relating to Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF) are available in the company’s newsroom at https://cnw.fm/GLDFF

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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420 with CNW — Cannabis Legalization Bill Advanced to Montana Governor’s Desk

Montana’s state legislature has approved a legislation that establishes the recreational cannabis program voters had approved during the November 2020 elections and advanced it to the governor’s desk. Last week, the House approved HB 701, which had thrice been modified by the state Senate. The retail sale of recreational cannabis in the state is scheduled to begin early in 2022.

The legislation, which was introduced nearly five weeks ago, has been amended a number of times in both the House and Senate chambers, with some officials voting to prevent it from advancing.

Earlier last week, a group of GOP legislators came together and opposed the form of the legislation that the Senate had come up with after negotiations in the upper chamber. The bill had indicated that home cultivation would be allowed, that a special court to handle expungement cases would be established and that any surplus funds would be directed to conservation easements. As it is currently written, the legislation would also finance a substance abuse alleviation program called HEART Fund, which was proposed by the state’s governor.

House Republicans voted down the legislation because it had not banned home cultivation, eliminated the possibility of a local nonmandatory excise tax and lowered the tax on recreational marijuana sales.

Instead of sending the bill to a special conference committee, legislators decided to suspend House rules and, with the assistance of the legislation’s sponsor Rep. Mike Hopkins, who gave a motion to revisit the vote, approve the legislation.

Rep. Bill Mercer, who had opposed the bill, argued that Montana would be ring-fencing a lot of the projected revenues from the recreational cannabis program, with no knowledge of how much they would be required to spend. He noted that medical cannabis cardholders, who would have had to pay 4% tax as per the legislation, would be less willing to pay for recreational cannabis at the 20 percent rate.

Mercer added that allowing the local-optional excise tax could allow for the establishment of sales taxes, which would be problematic.

Hopkins stated that fellow legislators had to choose between I-190, the measure approved by voters, and his bill, HB 701. He explained that if his legislation hadn’t been approved before the session came to an end, the recreational cannabis market would have been established under the stipulations in the I-190 measure. Hopkins’ bill also includes a clause to utilize recreational cannabis taxes to finance conservation easements in the program called Habitat Montana.

In the end, the bill was passed, and it now heads to the state governor’s desk for enactment into law.

If the bill gets the nod from the governor, Montana could be destined to see the mushrooming of highly competitive cannabis companies, much like what happened in the California marijuana industry. Grapefruit USA Inc. (OTCQB: GPFT) is an example of the entities flying high in California.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Provides Update, Plans to Release FY2020 Financials

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) has announced that it will file its 2020 audited financial statement on or before May 31, 2021. In addition, the company released a brief company update featuring highlights of 2020. The update noted that Q4 2020 product sales for the company totaled an estimated CDN $26.5 million, which was a 218% increase over the Q3. The company also completed its acquisitions of Acreage Florida Inc., PV (“PV”) and Mid-American Growers. RWBYF also entered into a definitive agreement to purchase one of only 21 cannabis licenses and operations in Illinois. The company submitted required applications to complete the acquisition of all the assets of PharmaCo. and raised more than US$110 million in the first four months of 2021. In addition the company has either finalized or has entered into definitive agreements for the acquisition of THC-licensed entities in Michigan, Illinois, Florida, California and Massachusetts. The company noted that upon the closing of all planned acquisitions, RWB branded products will be available in six of the top 10 states in the country, measured by cannabis revenue, with sales in 2020 totaling more than $8.8 billion. “Despite our frustration with the delay in releasing our results for 2020, we are thrilled with what we have accomplished over the year, and the first few months of 2021,” said Red White & Bloom Brands CEO and chair Brad Rogers in the press release. “I see a company that has grown from being an arm’s-length investor in Michigan to a footprint that will see RWB deploy its house of brand strategy in six of the most coveted cannabis markets in the United States.”

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

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 Florida, Illinois, California, Michigan, Oklahoma and Arizona with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com.

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

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

Do you have questions or are you interested in working with CNW? Ask our Editor

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420 with CNW — Important Lessons to Learn from 4/20 Marijuana Sales Data

Cannabis lovers in the United States celebrated 4/20, a stoner’s holiday held on April 20 every year, almost a week ago. According to Headset, a marijuana data analytics firm based in Seattle, April 20 is the single largest sales day in the country each year since the legal sale of recreational cannabis began.

The data released by the firm shows that the proportion of sales that takes place on 4/20 increases year over year, except for last year. This can be attributed to the fact that April 20 last year fell on a Monday, which generally tends to have lower sales. Additionally, the decline in sales was likely affected by the coronavirus outbreak and consumers’ unwillingness to meet at in-store events.

Analysis conducted by the firm also shows that while sales in the 4/20 week were among the 10 top weeks of the year with regard to revenue, sales for the week before the holiday were often below average, with sales for the week after the holiday even worse. Given that many companies give discounts during the week of 4/20, it’s no surprise that this happens.

The company also looked at the combined sales of Washington D.C., Nevada, Colorado and California for 2018 and discovered that the week after the stoner’s holiday was the worst revenue week that year. Sales data also revealed that 4/20 celebrations made up most of consumer spending in the summer.

Additionally, the analysis found that in 2020, the sales for adult-use cannabis for the week of April 20 continued growing, despite the coronavirus pandemic. Data shows that the combined sales for the states of Nevada, Colorado and California, along with Washington DC, reached almost $159 million in that week alone, which is equal to a 24% increase, based on data from the previous year.

Despite this though, it’s hard to say whether this increase is normal, given that 2019’s April 20 week experienced a 42% year over year growth.

The high rates of unemployment, consumers’ hesitancy to buy products in-store, and the restrictions imposed as a result of the coronavirus pandemic last year may have also stunted sales during 4/20. For the first time in three years, revenue for the week of April 20 didn’t appear in the top 10, instead, occupying 40th place. However, retail sales increased in the following weeks, as consumers spent more between the months of August and December.

Cannabis executives are hopeful that vaccine rollouts will enable the industry to return to normal soon, and sector players such as Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) (FSE: 4XM) would certainly appreciate having one less issue to deal with.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Statistics Show Marijuana Industry Registering Increases in Employee Compensation

Despite its relative youth, the state legal cannabis industry has proven to be quite profitable. The sector has provided states with millions of dollars in tax revenue at a time when their coffers were running dry and employs hundreds of thousands of Americans across the country. According to a new report, marijuana’s soaring success over the last few years has resulted in year-over-year increases in compensation packages for most lower-, mid-, and top-level employees.

Additionally, the marijuana industry is much more disciplined with pay compared to how some companies acted three to four years ago, says Dan Walter, a compensation specialist and managing consultant with BlueFire Cannabis by FutureSense. The national compensation strategies firm provided payroll data from marijuana companies for the report.

Walter notes that while CEOs and other executives may earn less than what their contemporaries in mainstream industries earn, specialists at large cannabis companies bring home the same or even more than what mainstream specialists earn. Even so, compensation packages for lower-level and executive positions steadily increased. On the other hand, mid-level employees have experienced only modest compensation increases and even, in some cases, declines.

Companies that deal in cultivation and retail enjoyed increased sales and consequently upped their employees’ pay while those in manufacturing saw more modest growth. Even though the cannabis space is becoming more competitive, CannabizTeams CEO Liesl Benard says multistate operators (“MSOs”) keep hiring from the same limited talent pool and thus push salaries up. Walter adds that a cannabis company with at least 50 employees will have to pay a C-suite officer around $150,000–$200,000 on top of paying their lower-level employees at least $15 an hour.

As businesses in the cannabis space grow older and larger and become more complex to manage, they require managers with certain skill sets and experience. A CannabizTeamz reports shows that companies have been drawing experienced individuals from industries such as biotech, retail, financial services and consumer packaged goods, to name a few, increasing average compensation for executives by 16% in 2020.

Cannabis companies prefer candidates with extensive backgrounds in compliance, lawyers and chief financial officers (“CFOs”) from global companies, and retailers with experience managing several stores, Benard says, and those leaders don’t come cheap. Candidates who have experience with state legal cannabis on top of working in mainstream industries are in even more demand, increasing their average compensation packages.

Data from Vangst, a Vancouver-based cannabis recruitment firm, shows that salaries in the cultivation space increased 5% from 2019 to 2020, retail salaries went up 3%, and cultivation directors and managers saw a 25% and 3% bump respectively. However, the extraction sector saw a 4% reduction, and lower level salaries either decreased or remained static.

It is gratifying that cannabis sector players such as The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) are contributing towards giving people well-paying jobs as well as bringing other benefits to the communities in which they operate.

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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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 – GIE Media Cannabis Conference 2021 Announces CannabisNewsWire as a Media Sponsor

Cannabis Conference 2021, presented by Cannabis Business Times, Cannabis Dispensary and Hemp Grower magazines, has selected CannabisNewsWire (“CNW”), a specialized communications platform for the cannabis sector and one of the more than 50 brands included in the InvestorBrandNetwork (“IBN”) family, to serve as a media sponsor. The Cannabis Conference 2021 is slated to be held Aug. 24–26, 2021, at the Paris Las Vegas Hotel & Casino in Las Vegas. The three-day event is the only industry conference that focuses exclusively on plant-touching cannabis businesses. The agenda for this year’s event features insightful presentations on cannabis cultivation, business operations, retail management and customer engagement; industry-leading thought leaders and experts will also present. The prestigious event, which has built a reputation for providing the highest level of education for dispensary and cultivation professionals, will also shine a spotlight on a number of industry-leading technologies, solutions and services that cater to cultivators and businesses. Companies presenting at the event include Cresco Labs, Aster Farms, Curaleaf, Planta Scientific and Kansas State University’s Department of Entomology, just to name a few. IBN and CNW will work together to increase recognition for conference participants and strengthen awareness and visibility of the event. As part of its services, CNW will provide article syndication to more than 5,000 outlets as well as featuring the event on its dedicated events page and other key communication outlets. “We are pleased to be collaborating once again with CannabisNewsWire, in their position as a media sponsor of the Cannabis Conference,” said Cannabis Conference group publisher Jim Gilbride in the press release. “CNW, IBN and its brand network have done a stellar job in heightening the awareness of our past events. We look forward to a continued relationship with this outstanding team as they assist us in ensuring that our message will be broadly shared with those desiring to learn more about the future of the fast-growing cannabis industry and the exciting new products, innovations and practices being launched within it.”

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About Cannabis Conference 2021

Presented by Cannabis Business Times, Cannabis Dispensary, and Hemp Grower, Cannabis Conference 2021 will bring industry stakeholders together to engage the biggest opportunities and challenges facing the legal cannabis market. The three-day event continues to build upon the successes of previous events and returns with education for cultivators, retailers and manufacturers. The conference also will once again expand its educational offerings with a track dedicated to the cultivation and sale of hemp and hemp-derived products. The conference will feature in-depth educational programming on cannabis cultivation and business operations, as well as the most informed industry perspectives on retail management and customer engagement. The Cannabis Conference exhibition hall will feature industry-leading technologies, solutions and services for the professional cannabis cultivator and retail businesses. The educational program for Cannabis Conference is developed by professional cultivators and industry leaders who comprise the 2021 Cannabis Conference advisory board, in partnership with the editorial team behind Cannabis Business Times, Cannabis Dispensary and Hemp Grower.

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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