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 — Montana Launches Digital Marketplace to Link Hemp Buyers, Sellers

Farmers in Montana have taken a great liking to industrial hemp, a variety of cannabis that doesn’t have any psychoactive effects. The state legalized its cultivation back in 2014 under a federal program, with the first legal crop being planted in 2017. Licensed Montana farmers grew more acreage of hemp than any other U.S. state in 2018, and although other states have since surpassed Montana’s hemp output, the state is still an industry leader.

Now, thanks to a new online Hemp Marketplace, Montana hemp farmers will be able to market their products to a wider market of sellers. Announced by the state in late October, the online portal is designed to connect hemp farmers with buyers in search of seeds, fiber and hemp derivatives such as cannabidiol (“CBD”). The portal can be accessed by visiting the Montana Department of Agriculture’s (“MDA”) website.

The concept for the Hemp Marketplace comes from the MDA’s Hay Hotline, which connects buyers and sellers of hay and pasture. “Only instead of hay and pasture, the online tool connects buyers and sellers of hemp and hemp derivatives,” the Hemp Marketplace website states. “Due to hemp’s status as a regulated crop, only growers licensed through the Montana State Hemp Program are permitted to list their hemp for sale.

All listings, which are free, must adhere to the federal and state THC limit of 0.3%. The online portal will be split into “Hemp for Sale “ and “Hemp to Buy” categories, and the listings will include what type of products are on offer or in demand, whether or not a given crop is organic and whether third-party lab testing data is available. The Hemp Marketplace also organizes products into one of four varieties based on whether or not the hemp seeds have been certified by regulators.

In the meantime, players in the cannabis market have been waiting with bated breath for Montana residents to vote on the state’s legalization initiative. Based on a poll released by Montana State University, passage of the bill seems likely. The survey found that 54% of likely voters plan to support legal cannabis, 38% oppose it while 7% remain undecided.

“With hemp being a relatively new crop grown in Montana, the department recognizes that these markets are still developing,” says MDA Director Ben Thomas. “The Hemp Marketplace was developed to help facilitate connections between buyers and sellers. I’m looking forward to seeing how the marketplace will continue to advance the industry.”

A company you should watch in the cannabis sector is Pure Extracts Technologies Corp. (CSE: PULL). The company focuses on hemp and cannabis processing, and it has also entered the functional and therapeutic psychedelic products.

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

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Undertakes Marketing Analysis Ahead of Planned BudCars Expansion

Sugarmade (OTCQB: SGMD) today announced that, in anticipation of the planned expansion of the BudCars cannabis delivery service into new territories, it has undertaken an analysis of the efficacy of marketing spending relative to market size and population for the existing BudCars regional delivery footprint. According to the update, Sugarmade believes this may provide some insight into performance benchmarks and expectations related to the anticipated expansion into the North San Francisco Bay Area and the Wine Country counties, followed by Los Angeles. “We are very confident in the ROI associated with spending on BudCars marketing in connection with BudCars’ expansion,” said Jimmy Chan, CEO of Sugarmade. “We have seen at least a six-to-one multiple in terms of sales relative to marketing expenditure overall, with more than twice the market share and total sales where investments have focused more on cultivating new customers. We believe this bodes well for the marketing approach as BudCars enters the North Bay and LA Metro markets.”

To view the full press release, visit https://cnw.fm/vjN3D

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) and Budcars.com. For more information, visit www.Sugarmade.com. Sugarmade is an investor in BudCars and joint operator of BudCars’ first operating location in Sacramento, California. During early 2020, Sugarmade gained a 40% stake in BudCars and in the Sacramento delivery operations via the acquisition of a 40% stake in Indigo Dye Group. Under the terms of Sugarmade’s agreement with Indigo, Sugarmade also acquired an option to purchase an additional 30% interest in Indigo, upon the closing of which would provide Sugarmade with a 70% controlling interest. As of the date hereof, this option has not yet been exercised, Sugarmade’s stake in Indigo remains at 40%, and there is no assurance that Sugarmade will exercise the option to acquire an additional 30% interest in Indigo. However, since late May 2020, Sugarmade has been actively involved in development of Indigo’s operations with power to direct the activities and significantly impact Indigo’s economic performance. Sugarmade also has obligations to absorb losses and right to receive benefits from Indigo. As such, in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification 810-10-25-38A through 25-38J, Indigo is considered a variable interest entity (“VIE”) of Sugarmade.

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

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)

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CannabisNewsBreaks – Cannabis Global Inc. (CBGL) Announces Filing of PCT Application to Protect Proprietary Cannabinoid Delivery System

Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies and products, has filed a Patent Cooperation Treaty (“PCT”) that seeks international protection of its proprietary cannabinoid infusion system for beverages, foods and consumer products. The PCT is aimed at seeking patent protections for inventions resulting from CBGL’s Project Varin research program. Specifically, the application relates to innovative methods for the creation of highly bioavailable and ultra-fast-acting cannabinoids for use in beverages, food, topicals and other applications. Noting that this technology is revolutionary, the company believes its breakthrough research could potentially result in substantial cost reductions and efficacy enhancements, as well as significantly faster onset of active cannabinoids ingredients. “At Cannabis Global we hold the opinion that not only will cannabis be soon descheduled and legalized within the United States, but in many other areas of the world,” said Cannabis Global CEO Arman Tabatabaei. “It is important for our company to start on the PCT process as soon as is possible to ensure we will be able to capitalize on the expected wave of global cannabis legalization, especially relating to Southeast Asia and within the European Union where legalization and decriminalization is already well underway.”

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

About Cannabis Global Inc.

Cannabis Global, formerly known as MCTC Holdings Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission. The company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp- and cannabis-infusion technologies. The company does not engage in the production, distribution or sales of any controlled substances, including marijuana. CBGL has an actively growing portfolio of intellectual property, having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The company markets its consumer products under the Hemp You Can Feel brand name. Cannabis Global launched its Project Varin early in 2020, designed to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (“THV-C”) and to develop products based on this cannabinoid. For more information about the company, visit www.CannabisGlobalInc.com.

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

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)

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CannabisNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) to Release Q3 Results, Host Conference Call

The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified organically grown cannabis, announced that it will release its third quarter financial results following the market close on Tuesday, November 10, 2020. In addition, the company will hold a conference call with analysts beginning at 9:00 a.m. ET on Wednesday, November 11, 2020. Interested parties may join the call by dialing 1-416-764-8688 (Local – Toronto) or 1-888-390-0546 (Toll Free – North America) and entering conference ID 68691087. An audiocast of the conference call will be available on a listen-only basis at https://cnw.fm/4SEVN. Scheduled speakers are Brian Athaide, chief executive officer, and Sean Bovingdon, chief financial officer, followed by a question and answer period with analysts.

To view the full press release, visit https://cnw.fm/L18Mg

About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended. The company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next–generation cannabis products such as organic teas, dissolvables and vapes. Through its European subsidiary, HemPoland, the company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.

TGOD’s Common Shares and warrants issued under the indentures dated November 1, 2017, December 19, 2019, June 12, 2020, and October 23, 2020, trade on the TSX under the symbol “TGOD,” “TGOD.WT,” “TGOD.WS,” “TGOD.WR” and “TGOD.WA,” respectively, and TGODF trades in the U.S. on the OTCQX. For more information about the company, please visit www.TGOD.ca.

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

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)

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Pac Roots Cannabis Corp (CSE: PACR) Stands to Benefit from U.S. Potential for Cannabis Decriminalization

  • Upcoming U.S. elections has potential to radically alter state of U.S. cannabis industry
  • Democratic Vice-Presidential candidate Kamala Harris stated that potential Biden administration would seek to decriminalize use of cannabis
  • Five states will vote on legalizing recreational or medical use of marijuana this November
  • Canadian cannabis producers have benefited from experiences gleaned from operating over last two years under Canada’s existing legal framework for cannabis industry
  • Pac Roots Cannabis has taken number of steps to ensure end product quality, helping boost company’s competitiveness if U.S. cannabis industry decriminalization comes to fruition

For Pac Roots Cannabis (CSE: PACR) and the rest of the Canadian cannabis industry, the upcoming U.S. elections promise to help determine the sector’s fortunes going forward. Polls carried out in the U.S. have shown that over 66% of the population favor legalizing marijuana—a figure illustrating a meteoric rise over the past decade, having increased by 30 percentage points since 2005 (https://cnw.fm/c9dis). The growing level of support for the decriminalization of cannabis has also spilled into the political arena, with Republican lawmakers having sponsored marijuana legislation and co-chaired, along with Democrats, the U.S. Congress’s Cannabis Caucus (https://cnw.fm/N3lw8).

Meanwhile, Democratic vice-presidential nominee Senator Kamala Harris has publicly affirmed that a potential Democratic administration would seek to ‘decriminalize the use of marijuana’ (https://cnw.fm/VHDfY)– a policy which could results in significant gains for the legal Canadian cannabis industry.

However, the positive currents buoying the industry are not solely predicated on a Democratic administration being in place, with restrictions potentially being lifted even if President Trump is re-elected and Republicans keep control of the Senate. Five states are set to vote on legalizing recreational or medical marijuana in November, including New Jersey and Arizona (https://cnw.fm/nuUTn). A successful vote in favor of the measure in all five states could result in estimated sales of up to $400 million in each state in just the first year, according to the Marijuana Business Daily (https://cnw.fm/6FTcB) and would make the medical use of marijuana legal in 38 states with adult-use permitted in 14 of those, including Washington D.C.

A move towards full legalization would unlock the world’s largest cannabis market, with Canadian producers possessing a significant edge in the race to conquer the new market. With the Canadian legalized cannabis market now over two years in the making, CEO of Aurora Cannabis Miguel Martin noted that the country’s marijuana industry had gained valuable experience, which could hold them in good stead in the event of US legalization.

“Those lessons on manufacturing, labelling, sales and marketing, all of those principles … will be very applicable to the U.S. market,” he said.

Pac Roots Cannabis has recently undertaken a number of steps designed to help ensure the quality of its product, measures which should boost the company’s profile and competitiveness in the event of a fully legalized US market. The Company has sought to leverage upon the exceptional genetics of its specialized cultivars as well as an innovative proprietary cultivation technique to ensure the production of extremely high-quality strains.

More recently, the Company announced its entrance into a strategic licensing agreement with Phenome One Corp (https://cnw.fm/OtYx4) –a venture which would provide Pac Roots Cannabis with access to one of Canada’s largest live, genetic cannabis libraries with lab and field-tested, selectively bred seedlings which the Company has employed to grow, breed and clone for its own unique brands. The partnership has enabled Pac Roots to offer customers a remarkable portfolio of over 350 meticulously-designed cultivars, ranging from CBD-dominant plants with rare terpene profiles to plants with over 30% THC-content as well as West Coast outdoor, botrytis-resistant cultivars.

A recent study carried out by Data Bridge Market Research found that the value of the global legal cannabis industry was set to soar to an estimated $90 billion per annum by 2027 – while only representing 10% of annual tobacco sales around the world, the figure represents a significant uplift to the $17.7 billion worth of the industry in 2019 (https://cnw.fm/C2Vda). In the event that the US market shifts towards decriminalizing the use of recreational cannabis, the projected figures could be set to soar – along with the fortunes of companies like Pac Roots Cannabis and its peers.

For more information on Pac Roots Cannabis Corp., visit the company’s website at www.PacRoots.ca

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

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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CanadianCannabisWire is part of the InvestorBrandNetwork.

420 with CNW — Want to Pass a Drug Test? Here’s a Few Marijuana-Detox Tips

Despite the growth in the social acceptance of marijuana and its legalization in several U.S. states, use of the plant remains illegal in some states as well as at the federal level. This is why drug tests are still a common occurrence in many situations. To help you understand how drug tests work and how to reduce your chances of testing positive on one, here are a few tips.

First, you should know that marijuana is filled with CBD and THC, which are cannabinoids that produce various effects that range from sleep-promoting to psychoactive. There are various types of drug tests that are carried out to test for the presence of cannabis-related compounds in a person, but most drug tests target THC because it’s a Schedule 1 drug.

Urine tests are the most popular. These tests identify cannabinoid metabolites that last longer in the body, the main one being delta9-THC-COOH, a subsidiary product of THC. Blood tests are also available. They identify both metabolites and THC. These types of test aren’t as popular as urine tests because of their invasive nature. Additionally, THC can also be detected in saliva but only during a short detection window.

Now onto detoxing. The period of time it takes a person to detox from marijuana and pass any drug test depends on various factors, such as:

  • Type of test being conducted
  • Hydration level
  • Amount of body fat
  • Rate of metabolism
  • Amount of THC consumed
  • Frequency of consumption

While you might be tempted to exercise to help remove THC from your body, that is discourage and ineffective; same goes for cannabis detox drinks. You’re more likely to get help from natural products. However, you should keep in mind that these remedies aren’t guaranteed to be 100% effective. The best way to improve your chances of acing a drug test is simply to abstain from using until after the test is administered.

However, if a you must take a drug text, here are a few natural methods that may help.

  • Use mouthwash that contains alcohol half an hour before a saliva test. It may help reduce THC presence in your saliva.
  • Take a multivitamin that has B2 or B12 a few hours before a urine test. That way, if you dilute your urine with drinking water to reduce the THC concentration level, your urine won’t look clear.
  • Do not work out 24 hours before your urine or blood test is conducted. The THC that’s stored in your fat cells moves into your bloodstream and urine when you exercise.

This is the best way to detox yourself completely from THC is simply to refrain from consuming any marijuana products, including smoking and edibles, for at least one month prior to the test. In addition, incorporating fiber, such as leafy greens and whole grains, into your diet and increasing your water intake can help your body rid itself of toxins such as metabolites and THC.

One great company in the cannabis space that you should watch is Gage Cannabis Co. The company specializes in serving the Michigan marijuana market and has set its sights on building the biggest marijuana brand in the state.

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 — Canadian Researchers to Receive $4 Million to Develop Better Marijuana Breeds

Although the nascent cannabis industry is among the fastest-growing sectors in the world, it is plagued by challenges. For instance, because cultivating, researching and selling cannabis was prohibited for decades, cultivars have limited genetic knowledge and breeding resources. This puts the industry at a severe disadvantage against other crops that have undergone genetic research and experimentation to create superior genetics.

However, thanks to $4.2 million in federal, provincial and industry funding, this may soon be a thing of the past. Awarded to researchers at the University of British Columbia (“UBC”), the grant will be used to study enhanced cannabis cultivars with a particular focus on disease resistance. Dubbed Fast-Tracking Breeding of Powdery Mildew-Resistant Cannabis, the study will be led by UBC researchers Loren Rieseberg and Marco Todesco in partnership with Greg Baute and Charles Pick of Canadian-based Aurora Cannabis.

According to study leader Rieseberg, the plan is “to develop a genomics-enabled breeding pipeline that will increase the speed and precision of cannabis improvement and bridge the gap in genetic knowledge and breeding resources that currently separates cannabis from other crops.” One of the group’s main focuses will be to create genetics that are resistant to powdery mildew, a common fungal disease that is difficult to get rid of and can destroy cannabis crops.

“In collaboration with Aurora Cannabis, we’ll apply this pipeline to solving a major limiting factor to large-scale cannabis production, susceptibility to powdery mildew,” Rieseberg says. The ultimate goal is to establish a breeding pipeline of cultivars with “superior agronomic performances” that are more resistant to powdery mildew, thus better suited for large-scale production.

“The Government of Canada is proud to support Canada’s world-leading stem cell and genomics research community,” said William Amos, parliamentary secretary to Navdeep Bains, the federal minister of Innovation, Science and Industry. “Today’s investment has the potential to save lives and come up with new ways of solving environment and agricultural challenges. This is Canadian science and innovation in action.”

The funding was provided by Genome Canada, a nonprofit organization funded by the federal government. Approximately $15.4 million in federal funding will be provided to support 10 genomics research projects across the country focusing on health, agriculture and the environment, with additional funding worth more than $56 million coming from provincial governments, businesses and research partners.

“The results of this project will benefit the Canadian cannabis industry and Canadian consumers, but also basic and applied science,” says Todesco. “The genomic resources that will be generated as part of this project will be freely available to the scientific community and will help us and other researchers to understand better this important crop and its evolution.”

Pac Roots Cannabis Corp. (CSE: PACR) is an interesting player in the cannabis space that you should watch. The company focuses on leveraging top-tier genetics to develop premium marijuana products and strains.

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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CNW420 is part of the InvestorBrandNetwork.

Sugarmade Inc. (SGMD) Issues Letter to Shareholders on Upcoming Expansion Steps

  • SGMD shareholder letter outlines building blocks of strategic vision
  • Chan talks about two themes: geographic expansion for BudCars and Sugarmade’s move to cultivation operations
  • BudCars is expanding into North San Francisco Bay area and wine country counties, then Los Angeles

In a letter to shareholders thanking them for their support, Sugarmade (OTCQB: SGMD) CEO Jimmy Chan outlined the “building blocks of a coherent and cohesive strategic vision” and noted that the company is putting in motion “key next steps to manifest that vision and drive strong and sustained shareholder value as a key emerging leader in the California cannabis marketplace”(https://cnw.fm/C3Q5i). 

“I want to highlight two themes that will help to drive our value proposition for shareholders over the intermediate term: geographic expansion for BudCars and our move to vertically integrate through the establishment of cultivation operations,” wrote Chan. “Together, they represent tangible catalysts driving both top and bottom line growth.”

In the letter, Chan noted that Sugarmade is working to “expand the scope, scale and reach of BudCars, a rapidly growing leader in the California cannabis delivery space — where we hold a 40% stake, with an option to take a controlling 70% stake, and where we are actively engaged in strategic and operational execution of the business.”

The letter outlined the dramatic growth BudCars has seen over the past six to eight months, noting that the company has consistently surpassed expectations in several key areas including customer acquisition and per-order volumes. “However, to fuel the next phase of our overarching vision, we must begin to expand our geographic reach,” Chan observed. 

“I have good news: that expansion is officially underway,” Chan continued. “We are expanding BudCars initially into the North San Francisco Bay Area and the Wine Country counties. That will be followed by our grand opening of BudCars Los Angeles, which we anticipate now will take place sometime in November.”

The letter noted that the move into the North Bay Wine Country area, which represents a more than doubling of the company’s total delivery territory, is “ripe with potential.” A recent “North Bay Business Journal” article reported that cannabis-related tax receipts from Sonoma County indicate that the area is seeing growth of 35% in the cannabis space. “As we begin to see tourism return in the wake of the global pandemic health crisis, we anticipate this region to represent one of the strongest bets as well, and we are excited about positioning BudCars to capitalize on that growth trend,” stated Chan.

The expansion into the wine country areas will be followed by the company’s grand opening in Los Angeles, slated for November. “Los Angeles is an enormous market for cannabis sales,” Chan explained. “It stands as perhaps the largest metropolitan cannabis marketplace on the planet. And we will be thrilled to see BudCars lay down roots and start taking market share in the area.”

The shareholder letter also noted that Sugarmade has secured a property zoned for cannabis cultivation and is working with regulators to move forward with plans to start its own cultivation operations. “This move will function to widen our margins on BudCars sales as well as to position Sugarmade to capitalize on growing demand in a chronically undersupplied marketplace,” the letter outlined. “Because of our access to end-market consumers through our BudCars distribution channel, we will also have an advantage over other cultivators in establishing a branded line of cannabis products, further supporting widening margins at each point in the chain.

“These are exciting times for Sugarmade. We have a rapidly growing business, and we are taking concrete steps now to build on that growth,” Chan concluded.

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) and Budcars.com. Sugarmade is an investor in BudCars and a joint operator of BudCars’ first operating location in Sacramento, California. 

During early 2020, Sugarmade gained a 40% stake in BudCars and in the Sacramento delivery operations via the acquisition of a 40% stake in Indigo Dye Group (Indigo). Under the terms of Sugarmade’s agreement with Indigo, Sugarmade also acquired an option to purchase an additional 30% interest in Indigo, upon the closing of which would provide Sugarmade with a 70% controlling interest. As of the date hereof, this option has not yet been exercised; Sugarmade’s stake in Indigo remains at 40%, and there is no assurance that Sugarmade will exercise the option to acquire an additional 30% interest in Indigo. 

However, since late May 2020, Sugarmade has been actively involved in development of Indigo’s operations with power to direct the activities and significantly impact Indigo’s economic performance. Sugarmade also has obligations to absorb losses and right to receive benefits from Indigo. As such, in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification 810-10-25-38A through 25-38J, Indigo is considered a variable interest entity (“VIE”) of Sugarmade.

For more information, visit the company’s website at www.Sugarmade.com. 

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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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CannabisNewsBreaks – The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) Announces Its Alkaline88 Product Reaches No. 1 Spot at KeHE Winter Show

The Alkaline Water Company’s (NASDAQ: WTER) (CSE: WTER) flagship brand, Alkaline88(r), was the No. 1 item by cases sold at the recent KeHE Virtual Winter Show. The company produces premium bottled alkaline water, flavor-infused waters and CBD-infused products sold under the brand names Alkaline88, A88 Infused(TM) and A88CBD(TM), respectively. Held Oct. 5–12, 2020, the winter show is sponsored by KeHE, which has a nationwide distribution network comprised of an estimated 12,000 customers representing more than 30,000 accounts. KeHE distributes natural, organic, specialty and fresh products to chain and independent grocery and natural food stores, as well as other specialty product retailers throughout North America. “This is the second major KeHE event this year where our brands have done exceptionally well and achieved one of the top performer statuses,” The Alkaline Water Company CEO Ricky Wright stated in the press release. “At the KeHE winter show, a newly added virtual show this year, interest in our flagship brand Alkaline88 and our A88 Infused flavored waters remained strong. Our team met with some of the leading regional and national retail chains in the natural food industry, including Fresh Garden, Little Giant, Pete’s Fresh, Wayfield, Vitamin Plus and Nam Dae Mun, to name a few. Buyers booked orders for the upcoming seasonal store resets, which included a pickup in orders of our flavored waters.”

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

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(R) 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(R) launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused(TM) flavored water is available in seven 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 includes both the company’s lab-tested, full-spectrum hemp salves, balms, lotions, essential oils and bath salts, along with broad-spectrum hemp beverage shots, powder packs, oil tinctures, capsules and gummies. To learn more about the company, please visit www.A88CBD.com and 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.

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CannabisNewsBreaks – Cannabis Global Inc. (CBGL) Announces Filing of Patent for New Class of ‘Revolutionary’ Nano Cannabinoid

Cannabis Global (OTC: CBGL), a cannabinoid and hemp extract science-forward company developing unique infusion technologies and products, has filed a new patent application. The nonprovisional application is a direct result of CBGL’s Project Varin and expands on the technologies and developments contained in the company’s provisional applications filed on Nov. 4, 2019. This recent application outlines new methods for the manufacture of highly bioavailable and ultra-fast-acting cannabinoids for use in a variety of applications, including in beverages, food and topicals. Calling the technology “revolutionary,” the announcement notes that this patent may rewrite the efficacy and cost equations in the cannabis industry; the technology also provides for considerably faster onset of active cannabinoids ingredients, with the potential to reduce the time from hours to minutes. “We believe what we have created is highly significant to the cannabis industry, especially as nationwide cannabis legalization looms on the horizon,” Cannabis Global CEO Arman Tabatabaei said in the press release. “This new cannabinoid delivery system is designed to allow beverage, food and cosmetic product formulators to use significantly less cannabinoids in products while achieving similar or meaningfully greater efficacy. Our patent filing covers not only the new processes developed to create the new forms of cannabinoids but also the nanoparticles and nanofibers using the outlined processes and ingredients. We are especially proud of the fact we have been able to use food-grade ingredients in many of the formulations allowing consumer product companies to produce the clean labels consumers are increasingly desiring.”

To view the full press release, visit https://cnw.fm/Aki6L

About Cannabis Global Inc.

Cannabis Global, formerly known as MCTC Holdings Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission. The company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp- and cannabis-infusion technologies. The company does not engage in the production, distribution or sales of any controlled substances, including marijuana. CBGL has an actively growing portfolio of intellectual property, having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The company markets its consumer products under the Hemp You Can Feel brand name. Cannabis Global launched its Project Varin early in 2020, designed to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (“THV-C”) and to develop products based on this cannabinoid. For more information about the company, visit www.CannabisGlobalInc.com.

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

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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