CannabisNewsBreaks – Pac Roots Cannabis Corp. (CSE: PACR) Conducting Non-Brokered Private Placement

Pac Roots Cannabis (CSE: PACR), a Canadian cannabis company dedicated to producing premium-quality strains and products by leveraging a genetics-focused approach, has announced a private placement of units, the proceeds of which are intended to be used for upcoming projects and general working capital. According to the announcement, released by Pac Roots CEO Patrick Elliott, the placement of units will be at a price of C$0.25 per unit for gross proceeds totaling up to $2 million, subject to an overallotment option. The offering is up to 8 million units, with each unit consisting of one share and one warrant exercisable at C$0.40 per share for 24 months from issue date. The announcement also stipulated that the issued units will be subject to a four-month hold period.

To view the full press release, visit http://cnw.fm/fKbPn

About Pac Roots Cannabis Corp. 

Pac Roots is focused on delivering the finest genetics to Canadians. Preserving the excellence of its elite strains while introducing the highest quality of new strains to the public is the company’s passion. Genetic variation and stability form the foundation that drives the decision making for Pac Roots Cannabis Corp.’s business. For more information about the company, visit 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.

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420 with CNW – Cannabis Legalization Linked to Fewer Vaping Injuries

A study found that states that had legalized cannabis were less likely to experience growth in vaping related lung injuries in the past year in comparison to states that prohibited marijuana use.

The study strengthened the arguments of advocates that called for marijuana reform, stating that its legalization and regulation reduced the potential risk of consumers using possibly dangerous and contaminated products.

The study also established that adult vaping rates and marijuana use rates had not increased as had been previously predicted.

It was noted that some of the teen consumers of adult-use marijuana users were ranked among the lowest with regard to lung related injuries from vaping, with less than 1 in 100,000 cases between the ages of 12-64.

On average, the frequency of these cases per state in terms of lung injuries was 1.4cases per 100,000 individuals in the said age group. In comparison, no state with high cases in lung injuries have recreation cannabis markets established.

The study indicates a negative relationship linked to EVALI (dangerous, lung disease associated with vaping) popularity and pre-outbreak vaping rates and cannabis use while also showing that well-established cannabis markets may have ejected the use of informally sourced, riskier e-liquids.

Combined, the five states that have legalized recreational cannabis i.e. Oregon, Alaska, Colorado, California and Washington, had less than one EVALI case per 100,000 residents aged between 12 and 64 while the states with the highest EVALI cases such as Minnesota, Utah, North Dakota, Indiana and Delaware, still prohibit recreation cannabis use.

It is speculated that a ban on smokeable marijuana products in two of the states mentioned above with a lot of cases, only permitted medical cannabis use. This may have further contributed to lung injuries as the only options left to consumers in the market were in the illicit and unregulated vaping market.

The CDC has in total, identified 68 deaths and over 2,800 cases linked to contaminated vape products. The agency has also discovered vitamin E acetate that is added to the illegally purchased and altered THC e-liquid cartridges as being a strong factor that may have led to the series of vaping-related lung injuries.

Another study that was published in April also ascertained that individuals living in states where recreational cannabis was legal were less than likely to sustain vaping-related lung injuries as compared to those living in states where marijuana is still illegal.

A high ranking CDC official stated last year that a clash between federal and state cannabis laws impeded research that was to aid in tackling EVALI cases.

Experts say this research shows that industry actors like Sugarmade, Inc. (OTCQB: SGMD) have a case when they say legalizing marijuana reduces some of the health risks resulting from consuming unregulated 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.

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420 with CNW – Federal Report Shows Legalization Hasn’t Increased Youth Marijuana Use

A report from the CDC shows that cannabis consumption among teens has decreased during the years after states legalized recreational marijuana use.

According to the biannual Youth Risk Behavior Survey that was released on Friday, cannabis consumption increased between 2009 and 2013 then declined between 2013 and 2019. The data thus supports the case from backers that asserted that the creation of a regulated cannabis market would not influence youth consumption as prohibitionists had previously warned.

The survey also found that the rate of marijuana use recorded no change among teens and high school students between 2009 and 2019 despite consumption methods diversifying. When the analysis was done using another method, cannabis consumption declined during the 2009-2019 period.

The results confirmed the need to carry on the promotion of cannabis legalization and the regulation of community safety benefits as well as public health and with focus on limiting youth access.

The CDC report also shows 21.7 % of students in high school admitted to consuming cannabis in the last 30 days, while 29.2% reported to have consumed alcohol in the same period window. For lifetime use however, marijuana consumption is represented at 36.8%/

SAM, a prohibitionist group, stated that the data was a legalization negative. This is in spite of the figures showing that marijuana use hasn’t grown among teens with more states legalizing its use.

However, the analysis does not account for the fact that the CDC failed to include and observe lifetime alcohol use at any stage and the data was excluded from the report in 2019. The reason for this being that Youth Risk Behavior Survey coordinators decided to not include the question, this is including other changes that were made to the questions for the survey in the year 2018. However, no specific reason was given as to why the members decided to make the decision to do so.

In comparison though, alcohol use surpassed marijuana use. Therefore, making the assumption that trends of consumption would be the same is not far-fetched.

According to previous studies that focused on rates of teen use after cannabis legalization, there was a clear decrease in consumption. However, a related absence of evidence indicates an increase.

For instance, a study that collected data from the State of Washington ascertained that the decline in consumption of cannabis might be explained by the regulations that replaced the illegal market, which made marijuana lose its appeal.

This research is likely to come as good news to cannabis industry players like The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) who felt it was wrong to say marijuana legalization would increase teen use of the substance.

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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HempNewsBreaks – Pac Roots Cannabis Corp. (CSE: PACR) Announces Healthy Crop, Bullish Production Outlook for 100-Acre Hemp JV

Pac Roots Cannabis Corp. (CSE: PACR), a Canadian cannabis company dedicated to producing premium-quality strains and products by leveraging a genetics-focused approach, today provided an update on the 100-acre commercial hemp operation in British Columbia. After receipt of the hemp cultivation license from Health Canada on May 22, 2020, the Pac Roots and Rock Creek Farms 100-acre premium-hemp joint venture (“JV”) commenced. According to the update, the operations team spent several weeks working the fields and installing irrigation systems before beginning planting in mid June. There are currently approximately 130,000 premium-hemp CBD plants in the ground across two 50-acre parcels. “It has been a busy four months since listing on the CSE in early May 2020. We are proud to have a healthy crop and remain bullish on delivering a premium, high-yielding product to our customer,” said Pac Roots CEO Patrick Elliott in the press release. “In early 2020, we had a goal of becoming a revenue generator in 2020 as market appetite was evolving towards a cash flow scenario and realizing on projected forecasts as paramount to survival in this industry.”

To view the full press release, visit http://cnw.fm/UtlMJ

About Pac Roots Cannabis Corp.

Pac Roots is focused on delivering the finest genetics to Canadians. Preserving the excellence of its elite strains while introducing the highest quality of new strains to the public is the company’s passion. Genetic variation and stability form the foundation that drives the decision making for Pac Roots Cannabis Corp.’s business. For more information about the company, visit 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 HempWire

HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.

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420 with CNW – Pennsylvania Governor Seeks Recreational Marijuana Legalization Amid Pandemic

The governor of Pennsylvania, Thomas Westerman Wolf, has urged the legislature to legalize recreational cannabis in order to assist individuals and businesses who have been badly affected by the COVID-19 pandemic.

In a press conference that addressed the coronavirus recovery, he requested for the legalization of recreational cannabis and for the profits to be directed into grants funding small businesses.

A news release from the governor’s office stated that 50% of the funds would be set aside for businesses that have been at a disadvantage in the previous years. In addition to asking the General Assembly to pass a law that would legalize the use and sale of recreational cannabis, he also proposed that part of the revenue be utilized in the restorative justice programs, thus giving precedence to making amends with communities and crime victims who have been affected by the criminalization of marijuana.

Additionally, the governor would like the general assembly to follow up on criminal justice reform policies that provide justice to individuals who have been sentenced to prison or served jail term because of cannabis related offenses. The governor also proposed additional hazard pay of $225 million to be issued to frontline workers of Pennsylvania of the COVID-19 pandemic.

This is to be done using the current PA Hazard Pay Grant Program’s overall structure and is to be dispensed by way of the Department of Community and Economic Development. These funds would be used to pay an increase of $3 per hour for the 208,000 frontline workers across the state.

Furthermore, the governor called for a Personal Protective Equipment Reimbursement Program to be established for employers that would make up for the cost of face shields, masks, hand sanitizers and soaps, cleaning supplies as well as any other sector-specific Personal Protective Equipment.

The governor oversaw the legalization of marijuana for medicinal use in Pennsylvania in 2016, with the state formally activating its medical cannabis program in 2018.  With the large number of bars and restaurants that are struggling to survive during the COVID-19 pandemic, amid the lockdowns and restrictions, if the governor’s plan was put into action, it would cancel out and or eliminate Pennsylvania’s alcohol tax for approximately six months.

Also, the governor would like small businesses, protective equipment, utility shut-offs and child care needs to be financially supported by the state government.

If the governor succeeds in having recreational cannabis legalized, the entire marijuana industry, including companies like Pure Extracts Corp., would be vindicated in their belief that cannabis legalization can turn around struggling economies.

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 – Medical Marijuana: A Remedy for Chronic Pain

If you struggle with chronic pain, then medical marijuana might just be what you need. As compared to prescription medications for pain, medical marijuana is a much safer option with significantly lower risks.

Below are ways in which medical marijuana can aid in easing your pain.

Helps with Migraines

Approximately, 12% of the American population suffers from migraines regularly, taking into account both adults and children. Migraines as compared to headaches are extremely painful and more intense.

The use of medical marijuana as a treatment option for migraines was established by researchers in 2016. The Pharmacotherapy journal published its research on the utilization of medical marijuana by chronic migraine patients. The study established that medical marijuana could be used to decrease the frequency of migraines while also being used to manage the migraine pain as well. Additionally, it had the potential to be utilized preventively.

Relieves Joint Pain

People living with arthritis know that joint pain can make everyday a painful experience to go through, which diminishes one’s quality of life. To manage the pain, many are advised to make changes to their lifestyles such as incorporating exercises and losing weight. Although these practices are effective, they require time in order to establish routine.

Medical marijuana gives instant joint pain relief, which may provide the affected individuals with a reprieve from the daily pain, thus allowing them to comfortably implement the changes needed in order to better their condition in the long term.

Helps Manage Neuropathy

Peripheral neuropathy is generally linked to diabetes. It refers to damage caused to the nerves outside one’s brain and spinal cord. It usually affects most areas of one’s body but mainly the hands and feet. It often causes weakness and numbness as well as pain in these areas.

It may occur as a result of a harrowing injury as well as recurrent use which causes damage to nerves over a period of time. Neuropathy is usually managed using pain relievers, which include opioids and over-the-counter options.

The Journal of Pain Research published a research study in 2017 that established the relationship between decreased neuropathic pain and vaporized cannabis. In addition to this, the researchers were also able to observe and document the change in pain relief, on the basis of the cannabis dosage that was used.

Reduces Inflammation

Inflammation in the body causes pain, mostly dependent on the area affected. To the increase comfort of individuals who are trying to manage chronic pain, doctors and caregivers try to reduce inflammation.

Despite over-the-counter nonsteroidal anti-inflammatory drugs effectively decreasing inflammation, long-term use causes stomach irritation as well as an increased probability of getting ulcers.

Future Medicinal Chemistry published a study review in 2010 that examined how marijuana could be used as an anti-inflammatory drug. In line with this research, it was established that cannabis interacted with the endocannabinoid system to create an anti-inflammatory reaction in the body.

Significantly Reduces Risk of Addiction

A major problem with using narcotics to treat chronic pain is that many individuals develop a tolerance to the drugs. So to keep managing the pain, dosages and medications are changed. This may result in addiction or dependence because of the regular use of opioids to provide pain relief.

However, emerging research shows that using cannabis may help treat an opioid addiction. Besides being used as medication for pain relief, medical marijuana may also help prevent individuals from using opioid pain relievers.

Furthermore, medical marijuana can also be used to reduce the likelihood of a relapse in individuals who are being given treatment for an opioid use disorder.

Experts say the diverse uses of medical marijuana to manage pain provide credence to what industry actors like Pac Roots Cannabis Corp. (CSE: PACR) say about the huge list of potential benefits of marijuana.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Issues Update, Confirms Expansion of Product Innovation Pipeline

The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, today provided an update on the progress of its corporate initiatives. Among other highlights, the update covered the company’s successful May launch, in Quebec, of its mainstream brand, Highly Dutch. Given strong sales, TGOD intends to expand to the balance of Canada in late September once it has built sufficient inventory to provide consistent supply to the market. In addition, the update discussed TGOD’s introduction of multiple 2.0 products during the second quarter, including RIPPLE dissolvables, teas and vapes. Based on the popularity of certain offerings, the company accelerated its innovation pipeline through entry into an expanded licensing agreement with Colorado-based Stillwater Brands to bring its entire RIPPLE product suite to Canada, including RIPPLE Gummies and RIPPLE QuickSticks.

To view the full press release, visit http://cnw.fm/83JfC

About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings is a premium, certified-organic cannabis company focused on the health and wellness market.  Its certified-organic cannabis is grown 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 and December 19, 2019 trade on the TSX under the symbol “TGOD,” “TGOD.WT” and “TGOD.WS,” respectively, and TGODF trades in the U.S. on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., 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.

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420 with CNW – CBD Oil: A Natural Remedy for Anxiety and Depression

For most people, therapy and or medication helps to cope with anxiety and depression while some prefer meditation and yoga or both methods.

Of late however, treatments for depression and anxiety have been moving towards more natural remedies, particularly CBD oil.

Cannabidiol or CBD is a cannabinoid that exists in the cannabis sativa plant. The cannabinoid is extracted from the plant and refined using various processes, resulting in the cannabidiol. The compound can be purchased in form of CBD gummies if you’d prefer flavor or in a liquid state.

Despite research on the use of CBD oil in treatment of depression and anxiety not being fully definitive as yet, researchers believe the oil alters serotonin signals in your brain through the activation of a receptor. As you know, serotonin is responsible for one’s mood as well as their well-being. CBD thus imitates serotonin through binding and activating your serotonin receptors, which alleviates one’s mood.

We look at CBD oil’s benefits and drawbacks in relation to its use. However, you are encouraged to do more research on your own to ensure you have the right information before using it, especially if you plan on using the oil when traveling.

CBD is all natural and is extracted from the cannabis sativa plant then processed into an oil. This makes it a healthier option as compared to pharmaceutical drugs, making it the better alternative for your body.

People suffering from anxiety and depression commonly experience migraines and cluster headaches. CBD oil relieves this pain and helps treat the root causes of these headaches. In addition to this, CBD oil does this without giving rise to a psychoactive response, addiction or tolerance.

There are various techniques to administer CBD, including mixing into food, using a dropper to place a few drops beneath your tongue, or eating flavored CBD gummies of varying milligram strengths.

Using CBD oil will not get you high as opposed to THC, but it is not approved by the FDA. This means it’s not regulated, therefore there is no standard of quality that has been set that should be adhered to in order for it to qualify as treatment.

Due to the lack of regulations, you may find that some of the products have either higher or lower CBD quantities than what is required. Hence, one should be careful when purchasing this oil as some products that may contain high amounts of THC may be mislabeled, which may result in aggravated anxiety levels, thereby defeating the aim of the treatment.

As its use is fairly new, the oil is not available everywhere. Also, some areas are restricted from using CBD by state and federal laws, so one can only purchase it in states where medical marijuana is legal.

Possible side effects of using CBD oil may include drowsiness, dizziness, nausea, mood swings, loss of appetite, low blood pressure as well as anxiety, making its use as treatment for anxiety, questionable.

While researchers continue to do more studies on the effectiveness of cannabidiol oil as a treatment option for depression and anxiety, the benefits do seem plausible even though the results may not be the same for everyone. So, if you’re looking for natural remedies to help with your anxiety or depression, take your time and look into this. Industry actors like Cannabis Global Inc. (OTC: CBGL) share a lot of helpful information that can guide you on which products are ideal for your condition.

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 – Cannabis Legalization to Proceed in Mexican Congress

Mexico’s president, Andrés Manuel López Obrador, has stated that the legalization of marijuana will proceed through Congress once it reassembles next month.

When asked about a meeting he had with a senator who was pushing for marijuana reform legislation during a press conference last Wednesday, he highlighted the boundaries when it came to the balance and division of powers between the legislative and executive branches of the government. In addition to this, he also stated that the marijuana proposal had existed for quite a while.

He also admitted that the legislature was taking action following a Supreme Court order to lift the government prohibition on cannabis. This was in the wake of the Supreme Court’s ruling that established the ban on possession and personal use to be unconstitutional in 2018.

Despite the legalization bill having proceeded through various committees at the beginning of this year, the coronavirus pandemic delayed the reform effort. The Supreme Court has arranged a later date, for the legislators to pass the change in policy. For now, lawmakers have till December 15 of 2020 to do so.

The bill, which was amended in a joint meeting of various committees earlier this year in March will be included on the agenda, seeing as the Senate will be back in session from September 1.

The bill proposes that adults who are 18 and older be allowed to cultivate and possess cannabis for personal use. If the output does not surpass 480 grams in a year, individuals may be allowed to cultivate up to 20 registered plants. Additionally, medical patients may apply to be allowed to grow more than 20 plants. Personal possession would be limited to not more than 28 grams although possession of as much as 200 grams would no longer attract a jail sentence.

The bill also proposes cannabis sales to be taxed at 12%, with part of the revenue being allocated to a fund dealing with substance misuse treatment. With regards to consumption, public consumption would be allowable except in designated smoke-free spaces with CBD and hemp being excused from regulations pertaining to THC products.

Under the measure, a separate body, that is, The Mexican Institute of Regulation and Control of Cannabis, would be responsible for providing licenses for cannabis businesses as well as regulating the market.

A senator from the ruling Morena Party, Julio Ramón Menchaca Salazar, stated that the legalization of cannabis could be helpful in filling treasury funds as the economy picks up during this pandemic period.

It would be interesting to hear what cannabis firms like Sugarmade, Inc. (OTCQB: SGMD) think about the implications to the regional cannabis market once Mexico establishes a regulated market.

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 Sales in California Rise Significantly as Lockdown Measures Remain in Place

During the last quarter, California raked in $208.4 million in tax revenue from cannabis. In comparison, this figure was slightly higher when compared with revenue from the first quarter of the year, the CDTFA reported last Wednesday.

Despite many industries declining in output or failing, the cannabis market seems to be operating at even greater efficiency, as the report from California shows.

The $208.4 million did not factor in tax revenue that was collected by each jurisdiction. In the first quarter of 2020, tax returns were $205.9 million, this is including the $26.9 million in cultivation tax, $107.4 million in cannabis excise tax as well as $71.6 million in sales tax.

Since retail sales for cannabis were put into effect, the state has amassed $1.45 billion in marijuana tax revenue. The figure is inclusive of sales, excise and cultivation taxes.

In line with a recent study, if bans on marijuana businesses were lifted, the revenue would increase. As for now though, 75% of counties and cities in the state still implement cannabis market bans. This is despite a statewide vote carried out in 2016 that legalized the plant for adult use.

While the California Department of Tax and Fee Administration analysis showed growth in revenue, the Legislative Analyst’s Office released a report on the same that cited a 7% decline in the same time period. However, they did not take into account sales tax and exclusively focused on cultivation and excise tax revenue. This accounts for the difference in the findings of the agencies.

The analyst who did the LAO report, Seth Kerstein, stated that they chose to omit data from sales tax citing problems with the accuracy of the methods used to acquire that data.

In Illinois, legal cannabis purchases are increasing steadily. The state of Illinois launched cannabis retail sales earlier this year in January. In July, it experienced an additional record-breaking month with recreational marijuana sales in the month adding up to an estimated $61 million. This number, was higher than the previous month’s record, which raked in a whooping amount of about $47 million.

Additionally, in Oregon, a similar trend in cannabis sales is being experienced by officials, in the middle of the global health pandemic. The data that was reported in May indicated that the adult-use cannabis sales had grown by a 60% margin.

Analysts say sector players like The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) will feel vindicated since the industry has always asserted that having a regulated marijuana market will open untold economic benefits for states.

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

CNW420 is part of the InvestorBrandNetwork.