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 — Cannabis Banking Bill Reintroduced in Senate with 27 Co-Sponsors

A legislation that protects banks that service legal cannabis businesses from being penalized by federal regulators has been retabled in the Senate. The bill has 27 co-sponsors and comes just days after the Secure and Fair Enforcement (“SAFE”) Banking Act was filed once again in the House.

The Banking Act was approved with bipartisan support as part of two coronavirus relief bills and also as an independent bill in 2019.

The Senate version of the legislation is being sponsored by Sens. Steve Daines and Jeff Merkley, in addition to twenty-seven other co-sponsors. Over in the House, the bill has more than 100 members who have signed on as co-sponsors.

The SAFE Banking Act would ensure that financial institutions can enlist marijuana businesses as clients, without having federal penalties imposed on them. The fear of sanctions has kept many credit unions and banks from working with the marijuana industry, thus forcing many cannabis companies to operate on a cash basis, which only creates more difficulties for financial regulators and makes them targets of crime.

In a press release, Merkley stated that no individual who works behind a register or in a store should have to worry about going through a traumatic robbery at any moment. He noted that the government would have to stop forcing legal marijuana businesses to operate on a cash basis, as it was a senseless rule that was an open invitation to money laundering and robbery.

Daines stated that businesses in Montana should not have to operate on a cash basis and should instead have a safe way to carry out business. He explained that his bipartisan bill would provide certainty for legal marijuana businesses in Montana, while also giving them the ability to freely use credit unions, banks and other financial institutions without the fear of punishment. This, he continued, would help improve local economies, create employment opportunities, support small businesses in the state of Montana, decrease crime rates and increase public safety.

Many are optimistic that the bill has a real chance of being made into a law this year, especially now that Democrats are in control of both the White House and chambers of Congress.

In addition to the chief sponsors of the legislation, other legislators who have signed on to the new version of the bill include the following: Sens. Cynthia Lummis, Bill Cassidy, Rand Paul, Amy Klobuchar, Patty Murray, Brian Schatz, Bernie Sanders, Gary Peters, Chris Murphy, Elizabeth Warren, Kirsten Gillibrand, Dan Sullivan, Kevin Cramer, Jacky Rosen, Jon Tester, Bob Menendez, Michael Bennet, Catherine Cortez Masto, Dick Durbin, Patrick Leahy, Alex Padilla, Ed Markey and Kyrsten Sinema.

Despite the lack of access to banking services, many cannabis companies are surviving as best they can — and thriving while at it. Gage Growth Corp. (d.b.a. Gage Cannabis) is an example of the top vertically integrated cannabis companies in Michigan that are excelling amid the hardships that the industry in general is facing as a result of the conflict between laws at the federal and state levels.

NOTE TO INVESTORS: The latest news and updates relating to Gage Growth Corp. (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.

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Colorado House Passes Bill Increasing Marijuana Possession Limit

The state of Colorado established an adult-use cannabis market in 2014, becoming the second state to do so. Despite this, the state’s program is still evolving, with its governor recently signing a bill that would establish a social equity fund for the marijuana industry, and the state assembly approving a bill to increase the cannabis possession limit.

Last week, Gov. Jared Polis visited a cannabis dispensary in Denver to sign an initiative that would create a program in the Office of Economic Development and International Trade in the state, whose role would be to support marijuana businesses owned by individuals who met the specifications for social equity licenses, which is mainly individuals who were most affected by the war on drugs.

According to a summary of the initiative, the program would offer loans to business owners for ongoing business expenses and seed capital, in addition to grants to support the creation of jobs and innovation. Additionally, it would make technical assistance available to cannabis business owners.

The initiative was drafted in consultation with a coalition of minority-owned marijuana businesses known as Black Brown and Red Badged. To begin with, the program will be granted a preliminary infusion of $4 million from the cannabis tax fund in the state, which is roughly $1 million less than what Gov. Polis had requested earlier in January.

Before signing the initiative, Polis stated in a press conference that the war on cannabis disproportionately affected people of color, which effectively reduced their access to the cannabis industry that was regulated and fully legal in the state of Colorado. The governor observed that the initiative was particularly important as the federal Small Business Administration hindered federal resources from being used to support and help businesses that operate in the legal cannabis industry, noting that this was why the state was stepping forward to help fill that role.

In 2020, Polis signed another legislation that would establish a statewide definition of marijuana social equity licensees. These businesses will be the primary beneficiaries from the new law.

In a press release, Hashim Coates, the executive director of BBRB, stated that equity in marijuana would focus on new opportunities and possess the ability to take advantage of the said opportunities. However, he added, the efforts had been delayed by the coronavirus pandemic, which led the legislature into a hiatus in 2020.

In other news, the House passed legislation last week that would increase the amount of cannabis an individual age 21 or above could possess.

Colorado isn’t the only state where cannabis industry laws are being proposed and passe. California was the first to legalize recreational marijuana, and many companies have set up shop in this state. An example is Grapefruit USA Inc. (OTCQB: GPFT), which has specialized in bringing highly disruptive products to the medical and recreational marijuana markets.

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

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — How Data Analytics Is Proving Invaluable in the Marijuana Industry

After decades of prohibition, marijuana is finally legal in some form in more than 30 states. The industry has made impressive progress, creating thousands of job opportunities and providing states with millions of dollars in much-needed tax revenue. With Democrats now controlling the Senate, House and White House, the country may see lawmakers pass federal cannabis legislation in the next few years, removing most of the roadblocks that have kept the industry from advancing and ensuring its growth.

Aside from access to financial service, one factor that will redefine the industry as it grows and matures is data analytics (“DA”). With the sector still in its infancy, DA presents a great growth opportunity for cannabis companies over the next few years. Industries such as banking, retail and airlines have leveraged data collection to great success, and the state-legal marijuana sector can do the same. But why is data analytics so important, and how can it help cannabis businesses?

Branding is important for any company that wants to carve out a nice market share for itself, and branding is dependent on data collection and analytics. Customers trust and will return to reputable brands, meaning cannabis businesses that want to stand out from the pack and thrive in an oversaturated market will need brand differentiation. DA will allow for trend analysis, helping cannabis businesses to ascertain which products they should produce as well as the market segments they should target, whether it is pre-rolls or high-potency concentrates.

Market segmentation has allowed companies such as Coca-Cola to create different lines of successful products for different markets. Not every product will succeed in every market, and finding the perfect product for each market segment will ensure customers buy your products. By leveraging data analytics, cannabis companies can utilize transactional data, seasonality and trend forecasting coupled with regional and demographic data to find the market segments they are best suited to serve.

Loyalty programs tend to keep consumers loyal to a certain brand, even if the consumers have to pay slightly more. Airlines and the hospitality industry have taken great advantage of this, using a variety of loyalty programs to ensure customer retention and to promote the growth of their brands. To do this, these sectors have invested a great deal in data analytics, and cannabis companies ought to do the same. Especially since the data clearly shows that there are market segments that would love to support a cannabis brand of high quality coupled with a loyalty program.

Thanks to a more liberal government, the cannabis industry is poised for massive growth over the next few years. Cannabis businesses that invest in data analytics from day one will have a greater chance of success.

With five successful brands to its name, Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF) is a true definition of a marijuana company that is leveraging data analytics to its full advantage.

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

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — First On-Site Cannabis Consumption Lounge to Open Soon in Illinois

The state of Illinois’ marijuana market is booming with data showing that last year the state sold more than $1 billion worth of legal marijuana both from recreational and medical marijuana purchases. Projections indicate that those sales figures will only keep growing as the market grows and consumption of marijuana products increases.

Currently, officials in the state are rolling back on the rules and restrictions that were imposed at the height of the COVID-19 pandemic to help control the virus spread. With vaccines being rolled out, more and more bar and restaurant operators are launching new projects.

One of these projects is the launch of the first on-site consumption bar of cannabis in the state. Located in Sesser, which is nearly 300 miles south of Chicago, owners are making their final preparations to open the Luna Lounge either late next month or in early May.

The venue is a bring-your-own-style bar where consumers are encouraged to buy marijuana from off-site dispensaries. The venue is billed as a safe space where consumers will not have to worry about being thrown out of a bar for rolling up a joint. The venue will also have smoking paraphernalia that can be rented.

Luna Lounge owners reveal that the bar will pave the way for Sesser to become more of a tourist destination, in addition to being the first bar of its kind in the state of Illinois. However, because of the indoor restrictions imposed on smoking in the state, the bar will not be serving alcohol. Customers who wish to buy food can purchase it from food trucks that will be parked outside the venue.

In 2020, the state of Alaska became the first state in the United States to permit on-site cannabis consumption while a site in Springfield became the pioneer to receive an onsite-license in the state of Illinois. Local law enforcement in Sesser then followed suit by approving the plan to launch Luna Lounge in March of the same year.

The first cannabis dispensary in downtown Chicago also began its operations last year. However, there doesn’t seem to be a push demanding for on-site consumption to be allowed in the city. This is despite the fact that on-site consumption of cannabis has the potential to unbridle creative possibilities in the city’s restaurant industry. For instance, underground marijuana dinners have a better chance of becoming popular if regulations were loosened.

While it is important for onsite marijuana consumption lounges to open, not all products made from cannabis are subject to restrictions regarding where they can be consumed. For instance, the CBD-infused powder packs, drinks and gummies made by The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) are nonintoxicating and can be legally consumed anywhere.

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

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Delaware Legislators Introduce Bill to Legalize Marijuana

States that have legalized cannabis have seen lots of benefits, including the creation of thousands of jobs and millions of dollars in tax revenue. On top of that, most states have also focused on social equity, expunging the records of people with prior nonviolent cannabis-related convictions and giving individuals affected by the failed war on drugs a leg up in their respective cannabis industries. That is what a bill recently introduced by Delaware lawmakers seeks to achieve, despite the fact that the state governor isn’t a fan of recreational marijuana.

The legislation would create a regulated cannabis market in the state, allowing adults 21 years and older to buy and possess up to an ounce of cannabis. However, unlike recreational cannabis legislation passed in other states, it would not provide an option for home cultivation. The bill would also require the appointment of a marijuana commissioner who would issue cannabis regulations and provide licenses to qualifying applicants. Additionally, it would bestow regulatory responsibilities to Homeland Security, the State Department of Safety, and the Division of Alcohol and Tobacco Enforcement.

Sponsored by Rep. Ed Osienski, the bill would also have a provision for the expungement of prior cannabis records, and it would create a business licensing category for communities disproportionately affected by the decades’ long war on drugs. This would include people living in areas that were adversely affected by prohibition, people convicted of a nonviolent cannabis offense, or the child of an individual with a prior cannabis-related conviction.

Social equity applicants would be granted access to a Social Equity Loan Fund, reduced fees, programs for technical assistance, an adjusted points scale, and the physical location requirement will be waived, says a press release from Osienski’s office. The legislation would allow industry regulators to approve up to 30 retail business licenses for the first 16 months, with applicants being scored based on a variety of factors, including whether or not they will pay their employees a living wage, provide health insurance and diversify their workforce.

The bill would also create a 15% sales tax, dubbed a marijuana control enforcement fee, that will be imposed at the point of sale. The tax revenue derived from cannabis sales would first be used to cover administrative costs and the legislature will then be tasked with apportioning additional funds. If the legislation is passed, the state could generate up to $43 million per year in revenue from a 20% excise tax, based on analysis by State Auditor Kathy McGuiness.

Bill sponsor Osienski believes establishing a cannabis industry in Delaware will strike a blow against the cannabis black market, create thousands of jobs for state residents and promote social equity for communities that were negatively affected by cannabis prohibition.

As the legislators in Delaware are discussing cannabis legalization, more established legal markets such as Canada have provides opportunity for companies to thrive. For example, Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) has carved out a name for itself as a company that uses only high-end marijuana strains to manufacture the best products aimed at the medical and recreational markets.

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

About CNW420

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) Announces 2nd Major DSD Expansion

The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER) today announced its latest partnership with Nevada Beverage Company, a Nevada-based direct-store-delivery (“DSD”) distributor. Under the agreement, Nevada Beverage will carry WTER’s full line of smooth-tasting Alkaline88 and A88 Infused flavored waters. “We are pleased to welcome Nevada Beverage Company to our growing DSD network. Nevada Beverage is a leading beverage distributor in Nevada, serving over 2,900 accounts with a territory encompassing 74% of the state population. As a best-in-class DSD provider, the partnership allows our waters to inundate another important market in the Southwest,” said Ricky Wright, president and CEO of The Alkaline Water Company. “This marks our second major DSD market expansion, following our recently announced distribution agreement with the Arizona-based Hensley Beverage Company. With our superior smooth taste profile and increasing consumer demand for eco-friendly options, we believe Alkaline88 and our A88 Infused flavored waters will be very successful and popular with Nevada Beverage’s customers.”

To view the full press release, visit https://cnw.fm/pD9QE

About The Alkaline Water Company

Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH-balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label: Clean Beverage. Quickly being recognized as a growing lifestyle brand, Alkaline88 launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused flavored water is available in six unique, all-natural flavors with new flavors coming soon. Additionally, in 2020, the company launched A88 Infused Beverage Division Inc., which includes the company’s CBD water and flavor-infused water. For the company’s topical and ingestible offerings, A88 Infused Products Inc. includes both the company’s lab-tested, full-spectrum hemp salves, balms, lotions, essential oils, and bath salts, along with broad-spectrum hemp, powder packs, oil tinctures, capsules, and gummies. To purchase A88CBD(TM) products online, visit www.A88CBD.com. To learn more about the company, visit www.TheAlkalineWaterCo.com.

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

About 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

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

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

CBDNewsBreaks – HempFusion Wellness Inc. (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO) Announces Completion of Pilot Trial, Releases White Paper

HempFusion Wellness (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, has completed a pilot study assessing the effect of its HempFusion formulation CBD Capsules(R) (HempFusion 20mg CBD capsules with botanical terpenes) as it relates to a combination of anti-inflammatories in lowering the results of the chronic inflammation test. The study was conducted in collaboration with Kansas-based Inflammatory Markers Laboratory (“IML”). In addition, the company also released a white paper titled, “Oral Formulation May Modulate Thromboxane Production.” The white paper was s co-authored by IML director Gordon Ens and George Fritsma, a professor at University of Alabama; the paper focuses on the potential of tracking and elucidating biomarkers sensitive to inflammation in addition to how novel compounds and formulas modulate the expression of these markers. Pilot study results showed potential promise in the area of inflammatory markers and possible effects on exaggerated inflammation. “We are committed to furthering research in the area of hemp-derived CBD,” said HempFusion co-founder and CEO Jason Mitchell in the press release. “And this pilot trial and soon to be published white paper reinforces our continued focus on the safe and effective use of hemp-derived CBD products.”

To view the full press release, visit https://cnw.fm/64J35

About HempFusion Wellness Inc.

HempFusion is a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition. HempFusion distributes its family of brands, including HempFusion, Probulin Probiotics, Biome Research and HF Labs, to approximately 4,000 retailers across all 50 states of the United States and select international locations. Built on a foundation of regulatory compliance and human safety, HempFusion’s diverse product portfolio comprises 46 SKUs (“SKUs”) including tinctures, proprietary FDA Drug Listed over-the-counter (“OTC”) topicals, doctor/practitioner lines and more. With a strong focus on research and development, HempFusion has an additional 30 products under development. HempFusion is a board member of the US Hemp Roundtable, and HempFusion’s wholly owned subsidiary, Probulin Probiotics, is one of the fastest-growing probiotics companies in the United States, according to SPINs reported data. HempFusion’s CBD products are based on a proprietary Whole Food Hemp Complex(TM) and are available in store or online. For more information about the company, visit www.HempFusion.com.

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

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.

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

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

Please see full terms of use and disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://CBDWire.com/Disclaimer

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

CBDWire (CBDW)
Denver, Colorado
www.CBDWire.com
303.498.7722 Office
Editor@CBDWire.com

CBDWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Sugarmade Inc. (SGMD) Announces Corporate Update

Sugarmade (OTC: SGMD), an innovator in the dynamic California cannabis sector, today issued an update on its operations, including details about the recent opening of its new Nug Avenue cannabis delivery operation, located in the large and rapidly growing Los Angeles metro cannabis marketplace. “We are moving forward with our core strategic plan, as announced and discussed during 2020, which consists of expanding our end-market access as a central player in the growing California cannabis delivery marketplace and developing our cannabis production capacity to verticalize our operations in the space,” noted Jimmy Chan, CEO of Sugarmade. “The successful opening of our LA delivery hub is an exciting development with strong topline growth implications given the scale of that market and our strong positioning there. And our focus on developing a vertically integrated supply chain represents continued progress toward pushing more of that growth to the bottom line, which we believe is the most effective path to directly rewarding shareholders.”

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

About Sugarmade Inc.

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

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

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Florida Legislators Consider Limiting Potency of Medical Cannabis

A legislation whose objective is to limit the amount of THC found in medical marijuana may soon advance to the house floor, despite opposition from medical professionals. Republican Rep. Spencer Roach, who sponsored the legislation, stated that the goal of House Bill 1455 was to regulate the medical marijuana industry in the state of Florida.

The bill would not only impose advertising restrictions on physicians who administer medical marijuana but also limit the amount of marijuana a treatment center could dispense over a particular period of time. One provision in the measure that seems to be drawing the most resistance is a 10% potency limit that will be imposed on smokeable flower. Typically, the THC level in a medical marijuana plant ranges between 25%–30%.

During a House Healthcare Appropriations Subcommittee meeting, Roach stated that there wasn’t a credible scientific study that demonstrated THC’s medicinal value in concentrations above 10%. This, he said, was the basis for the 10% limit on smokable flower.

Generally speaking, the bans imposed on research on medical cannabis, both at the federal and state level, have led to an overall lack of medical cannabis research.

Democratic Rep. Carlos Guillermo Smith stated that this limitation would threaten access to smokable cannabis flower for medical users while also disrupting the cannabis industry in the state. At the moment, many cultivators of medical marijuana grow plants that have high THC levels.

Smith added that because cultivators were required to grow the cannabis within the state’s borders under the state’s climate conditions, they would not be able to grow flowers at 10% or less as would be required under this new legislation. Despite offering amendments that would begin a study on the effects of high THC amounts, none of Smith’s reforms were accepted.

Roach claimed that the state’s medical cannabis program had become a recreational drug use program that was operating disguised as a medical cannabis program. While debating, Roach maintained that this year, 71% of all medical marijuana prescriptions had been filed by 12% of qualified doctors, with some physicians prescribing large amounts of medical marijuana. This is despite revealing that he had not consulted with any medical marijuana physicians.

However, physicians are refuting these claims. During a Zoom meeting held after the legislation was passed, a group of physicians who certify patients for medical marijuana cards in the state challenged the Roach’s claims. One of them, Barry Gordon, is the owner of Compassionate Cannabis Clinic and a former ER doctor.

As the debate on how potent medical cannabis products need to be in Florida, a number of companies are hard at work developing therapeutic formulations from marijuana in order to make the plant more precise and effective as a medicine. An example of a company in this category is XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), which is undertaking clinical trials to ascertain the efficacy and safety of several formulations, including an oral THC strip intended to treat nausea and anorexia.

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

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Key Congressman Reveals Cannabis Banking Will Be Handled Before Legalization Is Considered

America’s state-legal cannabis industry has had quite a run, creating thousands of job opportunities, providing states with millions of dollars in tax revenue, and changing the lives of thousands of individuals with prior cannabis-related offenses. Despite achieving so much in a relatively short time, the sector has a lot stacked against it due to its status as a controlled substance at the federal level. One major challenge the industry has faced so far is lack of access to financial services, as banks and lending institutions shy away from working with cannabis businesses.

According to a Congressman who has been an ardent supporter of cannabis reform, financial institutions may soon be able to work with state-legal cannabis businesses without fear of federal reprisals. The Secure and Fair Enforcement (“SAFE”) Act, which protects banks working with cannabis businesses, was reintroduced in the House and will advance, said co-sponsor Earl Blumenauer during a press call alongside other co-sponsors of the bill.

Lawmakers plan to pass the banking legislation first before they begin working on more comprehensive legalization legislation because lack of banking access has become a public safety crisis, Blumenauer says. With banks staying away from marijuana businesses, those businesses are forced to work on a cash-only basis, making them prime targets for theft and burglary. The coronavirus pandemic added additional risk, placing workers in situations where handling cash may increase their risk of infection. Even though comprehensive cannabis reform will eventually come, the banking issue needs to be addressed as soon as possible, Blumenauer says.

Not everyone was of that opinion, with some advocates arguing back in 2019 that Congress should have focused on comprehensive cannabis reform, specifically social equity, instead of banking. Sherrod Brown, the newly appointed Banking Committee Chair, is of the same school of thought.

He has said that he is willing to hold a hearing on the banking reform legislation on the condition that it is passed together with provisions that aid individuals with prior cannabis-related offenses. Thousands of lives have been ruined by the failed war on drugs, and lawmakers need to figure out how to help everyone in prison because of cannabis-related offenses before he can move on the bill, he says.

It looks like the pro-cannabis reform legislators still have work to reach a measure of consensus regarding which reform issues need to be tackled first by the Democrats who now control both Congress and Senate.

Meanwhile, Canada legalized the cannabis industry years back, and sector players are enjoying the benefits of that legalization. Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF), for example, has distinguished itself as the undisputed leader in the extracts segment, which is worth $2.7 billion every year in Canada.

NOTE TO INVESTORS: The latest news and updates relating to Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) are available in the company’s newsroom at https://cnw.fm/PULL

About CNW420

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.