Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsBreaks – Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) Announces Launch of Hiway – a New, Value-Oriented Brand

Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), today announced the launch of Hiway, a new brand dedicated to providing frequent cannabis consumers with affordable products that do not compromise on quality. “While we continue to see a strong market for our premium 7ACRES products, we are also seeing a tremendous consumer response to more affordable cannabis offerings; in July, dried flower products priced under $6 per gram accounted for approximately 40% of flower sales in Ontario,” Beena Goldenberg, president and CEO of Supreme Cannabis, stated in the news release. “With Hiway, we aim to exceed consumer expectations for value products by delivering a quality product at an affordable price. Hiway benefits from our strong reputation and leading practices for growing and processing high-quality cannabis products. With the launch of this value-oriented brand, we are leveraging our competencies, capacity and efficiencies to build market share and create an exceptional experience for more cannabis consumers.”

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

About Supreme Cannabis Company, Inc.

The Supreme Cannabis Company is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the company has emerged as one of the world’s most premium producers of recreational, wholesale and medical cannabis products. Supreme Cannabis’ portfolio of brands caters to diverse consumer and patient experiences, with brands and products that address recreational, wellness, medical and new consumer preferences. The Company’s recreational brand portfolio includes, 7ACRES, 7ACRES Craft Collective, Blissco, sugarleaf and KKE. Supreme Cannabis addresses national and international medical cannabis opportunities through its premium Truverra brand. Supreme Cannabis’ brands are backed by a focused suite of world-class operating assets that serve key functions in the value chain, including, scaled cultivation, value-add processing, automated packaging and product testing and R&D. For more information, visit the company’s website at www.Supreme.ca.

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

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 – 2021 Looks Promising for Pot Stocks

Had the coronavirus pandemic not struck, 2020 would have been a good year for cannabis. Several states were planning on legalizing cannabis either through a ballot or inclusion in the budget, but a lot of these plans have been put on the backburner. However, despite the ongoing health and economic crisis, cannabis stocks have fared relatively well. There was an initial dip in the industry’s value when the coronavirus struck but after a month or two, states were reporting record breaking cannabis sales. As we begin the last half of the year, investors are gearing up for 2021, which they believe will be even better for cannabis stocks.

Cannabis has seen months of bullish stock trading and many cannabis stocks continue to shoot up by double or even triple digits. Such massive growth is unsustainable over the long term but investors believe cannabis will continue to grow at a more reasonable pace, especially in 2021. The year has been tough, without a doubt, and as we head to the general elections in November, the U.S. faces the biggest health and economic crisis it has seen in quite a while, with most of the country gripped by anti-police brutality protests. So how will cannabis fare in such a grim looking future?

Election Day may just be the most important day in cannabis history. This year, lawmakers have filed a number of bills to federally legalize cannabis, and their passage will depend on who assumes office in November. Although presumptive Democratic presidential candidate Joe Biden doesn’t support broader marijuana legalization, he does support decriminalizing cannabis, expunging the records of individuals with prior possession convictions and letting states set their own policies.

In July, a Democratic Senator said that if his party reclaims the Senate and White House in November, lawmakers will “move very quickly” to legalize marijuana regardless of Biden’s opinion on the matter. “From my perspective, this is another issue that’s right there on the ballot in November. We’ll move very quickly in January to change these laws to make sure that there are national protections put in place,” Sen. Ed Markey told the Young Turks podcast.

Several states also have plans to legalize marijuana either in the November ballot or next year. The U.S. cannabis industry was estimated to be worth $13.6 billion in 2019 with 340,000 jobs devoted to the handling of the infamous plant. As of March 2020, 33 states had legalized medical marijuana while 14 had allowed marijuana for adult recreational use. States like New Jersey, Arizona, Mississippi and South Dakota are likely to legalize cannabis later this year, and the resultant state legal industries will only benefit pot stocks. Cannabis has shown that it can consistently bring in millions’ worth of dollars in taxes even in the midst of a global health and economic crisis, and states will without a doubt want a piece of the cake.

This promising future may be exactly what is keeping entities like Pac Roots Cannabis Corp. (CSE: PACR) investing more in their operations in a bid to serve their current and future clients better.

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 – Illinois Cannabis Sales Break Records in July

The months after the coronavirus broke out were characterized by a severe decline in commerce. Industries like airlines, food service and tourism were especially hit, with a large chunk of the more than 30 million Americans who lost their jobs coming from these sectors. Cannabis, on the other hand has weathered the storm fairly well. There was a spike in marijuana sales in the weeks leading up to the shutdown and self-isolation orders and in the months since, several states have reported record breaking sales.

On Monday, Illinois’ Department of Financial and Professional Regulation announced that the state had recorded another record-breaking month of recreational marijuana sales. Illinois is reporting nearly $61 million in adult-use cannabis sales for the month of July, with dispensaries selling 1,270.063 marijuana items, a new record. Illinois residents bought $44,749,787 worth of marijuana products while out of state visitors accounted for $16,207,193 worth of marijuana. Sales to out of state customers support Gov. J.B. Pritzker’s prediction during his State of the State address in January that cannabis tourism would boost the state’s tax revenue.

Marijuana sales in July trampled on the record previously set in June. Illinois reported more than $47.6 million in total sales that month with stores selling nearly a million (994,545) marijuana products. In-state residents accounted for $35.3 million while out of state visitors bought $12.4 million worth of marijuana products. At a time when states are seeing a massive reduction in taxes and their coffers are bleeding money, tax revenue from cannabis sales are a godsend.

Since retail cannabis sales started in January, the state of Illinois has earned $52 million in cannabis tax revenue, with 25% going toward a community reinvestment program designed to support communities most affected by the war on drugs. And with most of the country wracked by protests against aggressive policing of these communities, these funds are much needed. “Illinois has done more to put justice and equity at the forefront of this industry than any other state in the nation, and we’re ensuring that communities that have been hurt by the war on drugs have the opportunity to participate,” says Gov. Pritzker, who pardoned more than 11,000 people with prior marijuana convictions before the program was implemented.

In May, the state announced that it would avail $31.5 million in marijuana revenue-funded restorative grants to repair the damage caused by the decades’ long war on drugs. Illinois’ legalization bill established a Restore, Reinvest, and Renew program that provides grant opportunities for “communities impacted by economic disinvestment, violence, and the severe and multilayered harm caused by the war on drugs.”

Analysts say Illinois’ success provides a shiny example that sector players like The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) can refer to when explaining the benefits of having a regulated cannabis 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.

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420 with CNW – Senate Bill Seeks to Legalize and Tax Cannabis Like Tobacco

So far, 2020 has been pretty rough on drug reform initiatives. Marijuana legalization activists in states like Idaho and Florida have had to postpone their legalization activities after the coronavirus pandemic made signature collection almost impossible and kept lawmakers occupied with more urgent issues. However, the push for federal marijuana reform received a massive boost after a Democratic Senator filed a new bill to federally legalize marijuana in late July.

Titled the ‘Substance Regulation and Safety Act,’ the legislation was sponsored by Senator Tina Smith. If passed, it would remove cannabis from the Controlled Substances Act and direct federal agencies to develop a framework for regulating marijuana in the country. The legislation would de-schedule cannabis, and it would require the U.S. Department of Health and Human Services (HHS) to develop rules that treat cannabis the same as tobacco and to create a national research institute to evaluate the risks and benefits of cannabis.  The federal age requirement for marijuana sales would be 21.

The bill would also require the U.S. Department of Agriculture to impose quality control standards and mandate the Department of Transportation to study ways law enforcement can detect THC-impaired driving. The text of the bill states that the de-scheduling provisions are “retroactive and shall apply to any offense committed, case pending, or conviction entered, and, in the case of a juvenile, any offense committed, case pending, or adjudication of juvenile delinquency entered, before, on, or after the date of the enactment of this Act.”

The legislation state that HHS would be required to “regulate cannabis products in the same manner, and to the same extent” as tobacco, and that includes “applying all labeling and advertising requirements that apply to tobacco products under such Act to cannabis products.” The agency would also have to come up with a “national strategy to prevent youth use and abuse of cannabis, with specific attention to youth vaping of cannabis products.”

On racial justice, the legislation requires HHS to “consult with civil rights stakeholders to determine whether cannabis abuse prevention strategies and policies are likely to have racially disparate impacts” within 100 days of the bill’s enactment. On top of that, the Department of Transportation would also have to determine whether its impaired driving prevention policy “is likely to contribute to racially disparate impacts in the enforcement of traffic safety laws.”|

The Act would also require U.S. Customs and Border Protection to work with other agencies to develop policies on allowing marijuana imports and exports. “It’s terrific to see Senator Smith engage so substantively in the cannabis reform policy debate,” says Justin Strekal, political director of NORML. “We at NORML look forward to propelling many aspects of the new legislation into the broader conversation on the future of federal regulations in regards to a post prohibition America.”

Experts say companies like Sugarmade, Inc. (OTCQB: SGMD) will be hoping that this bill doesn’t end in limbo like others before it.

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 – Amazon Prime Unveils Search for Marijuana Business Talent

Michael Straumietis, commonly known as ‘BigMike’, is one of the most successful cannabis entrepreneurs in the world. He founded cannabis fertilizer brand Advanced Nutrients, a firm that has earned him millions over the last two decades. Said to be the world’s leading cannabis fertilizer, the brand’s products are sold in 109 countries and counting with an annual revenue of over $84 million. For 37 years, he has been a revolutionary for the industry and now, he has set out to “discover the new industry Titan.”

From August 15, BigMike will star in The Next Marijuana Millionaire, a reality show that will put 16 budding entrepreneurs against each other for the chance to win $1 million. Describing itself as the “first ever cannabis business competition show,” the Apprentice-style reality show will air on several streaming services including Amazon Prime, Apple TV, and Pluto TV.

The entrepreneurs will face off against each other in a series of “extreme challenges” for the chance to work alongside Straumietis, a partnership that “will change not only their life, but the direction of the multi-billion-dollar cannabis market,” says the show’s press release.

Although the show dubs itself the first ever cannabis business competition show, this isn’t the first time marijuana and reality themed series have merged. Back in 2017, Comedy Central released the High Court with Doug Benson, a spoof on daytime courtroom programs. Netflix Cooking in High, launched in 2018, and Cooked with Cannabis, launched in 2020, on the other hand, offer content on cannabis-infused cuisine.

And just last week, the Discovery Channel announced their own THC-infused series, Growing Belushi, which will follow actor Jim Belushi, his family and their employees as they manage and tend to his Oregon-based marijuana farm.

The show’s announcement comes at a time when states are looking to beef up their budgets due the coronavirus and are considering legalizing cannabis. States like Colorado and Illinois have collected millions of dollars in cannabis tax since their cannabis programs began, providing a much needed infusion of cash into the state’s coffers.

The industry had a positive outlook before the virus broke out and although things have slowed down a little, the cannabis industry still isn’t done growing. Even more states are sure to legalize either recreational or medical cannabis and it’s only time before marijuana is federally legalized as well. Whoever turns out to be the Next Marijuana Millionaire will not only win a life changing amount of money, but they’ll also be granted the opportunity to work with a Titan of the cannabis industry.

Experts say established cannabis sector players like Pure Extracts Corp. will welcome the positive media attention directed at the industry by this new TV show.

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 – Sugarmade Inc.’s (SGMD) Cannabis Delivery Service Reports Highest Performance to Date

Sugarmade (OTCQB: SGMD), a leading, multidivisional/multiproduct/multisector supply company, has released its July financial report, including record performance numbers for BudCars, the company’s newest acquisition. The cannabis delivery service organization reported more than $660,000 in total gross sales, which represented a 32% sequential monthly top-line growth. The report also included other performance highlights. “Last month featured strong growth in basically every major metric once again for our BudCars segment. We saw an increase in gross margins while demonstrating another breakout month-over-month performance on both the top and bottom line,” said Sugarmade CEO Jimmy Chan in the press release. “Note that April was our first full month operating BudCars. In July we more than doubled the sales and gross profits booked in April. That pace of growth suggests another potential doubling by October on a per-location basis. And we will be operating additional locations by then, which will serve to compound that growth.”

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

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. SGMD sees opportunities in business operations that combine the best areas of on-demand consumer distribution with certain areas of synergistic manufacturing and packaging to create a business model that capitalizes on the many changes in the cannabis industry. The company has made agreements with several market participants, which will be announced in 2020. The company views these opportunities as scalable and capable of producing strong revenue growth. 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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HempNewsBreaks – Cannabis Global (CBGL) Unveils New Product Line — Hemp-Based Alcohol-Substitute Mixers

Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies, has unveiled a new product line. CBGL’s new Hemp You Can Feel(TM) hemp-based, alcohol-substitute cocktail mixers are available both online at www.HempYouCanFeel.com and for wholesale distribution in bulk purchases. Consumers can use the product to mix cocktails that provide an experience similar to light alcohol consumption without the side effects of alcohol. “Because of the ultra-low levels of hemp extracts utilized, we feel we set a new standard for product-safety and satisfaction in the hemp food and beverage category with this product,” said Cannabis Global CEO Arman Tabatabaei in the press release. “While our Hemp You Can Feel beverages likely have the lowest hemp extract levels in the industry, we believe we provide a vastly superior positive effect upon use. We invite all consumers and alcohol industry participants to try what we see as the first viable alternative to alcoholic beverages.”

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

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, trading with the stock symbol CBGL. 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. The company 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 to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (THC-V) and to develop products based on this cannabinoid. For more information, visit the company’s website at 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 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 – How COVID-19 is Dampening CBD Sales

As 2019 drew to a close, no one expected the virus that had been discovered in Wuhan, China in November to bring the world to a complete standstill. Three months into the year, however, the resultant pandemic had caused massive damage to the economy, with industries like food service and airlines shouldering millions of job losses. Although cannabis products enjoyed a spike in sales in the week or two leading up to lockdown orders, the COVID-19 pandemic has since dampened CBD sales.

The nascent industry had previously seen extremely encouraging projections, with last year’s BDSA and Arcview Market Research industry report stating that CBD sales in the USA would surpass $20 million by 2024. However, according to a new report from Brightfield Group titled ‘US CBD Market July 2020’ CBD sales will be much lower than projected due to the coronavirus pandemic. How exactly has the pandemic affected current and future CBD sales in the country?

Stay at home orders coupled with social distancing have almost killed businesses which solely depend on their brick and mortar locations. The report by Brightfield Group noted that this would result in loss of revenue from store closures as many CBD retailers had either closed temporarily or were only offering curbside pickup or delivery.

“Even for CBD specialist retailers and smoke shops that remain open, they are experiencing steep declines in sales as social distancing guidelines and consumer worries about contracting the coronavirus keep shoppers at home,” the report says. According to Brightfield, nearly half (45%) of CBD consumers surveyed in June said they had moved their CBD purchases online, locking out up and coming players who didn’t already have infrastructure for online ordering and home delivery.

Reduced or no income due to job loss. The coronavirus pandemic has devastated the job market, with more than 20 million Americans losing their jobs since January. And as anyone who’s bought high quality CBD can attest, it isn’t cheap. And “with Americans facing high unemployment levels (11.1% in June 2020 compared to 3.8% in February 2020) year 2020 retail sales are not expected to reach levels anticipated prior to the emergence of the COVID-19 pandemic,” the report says.

As of July 14, over 30 million Americans were receiving unemployment benefits and for many of them, that’s the only income they can bank on, so CBD will probably be the last thing they want to buy. With the end of the coronavirus pandemic nowhere in sight, we can assume the economy will keep on declining, and CBD sellers who are able to adapt to the new times by incorporating online ordering, curbside pickup and home delivery will be able to weather the storm.

This less than favorable outlook for the CBD sector is likely to give industry players like The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) food for thought as they plan for the coming years since the changes in consumer behavior may not go away once the pandemic ends.

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 – The COVID-19 Outbreak is Hitting Illegal Cannabis Sales Hard

For many proponents of legalizing marijuana, snuffing out the black market and bringing all that revenue into the state coffers was a big motivation. However, the truth is the black market has thrived alongside state legal weed, and in many cases has actively undermined and drawn profits from the legal market. With the coronavirus pandemic in full swing, though, illegal cannabis sales have been hit. Hard.

In the early days of the pandemic, it was established that COVID-19 was a respiratory disease and folks with poor lung health were more at risk of developing severe symptoms. As beneficial as marijuana can be, smoking is harmful and puts your lungs in danger. People are still consuming marijuana during this period, though, they’re just getting it from a different, more trustworthy source.

“It’s understandable that people may be more hesitant to get their products from sources that are unregulated. They may not want to go to their dealer’s house, or they may not want to have their dealer come into their house at a time when people are social distancing and not supposed to be interacting with people that they don’t know,” says Kris Krane, CEO of 4Front Ventures, which operates dispensaries in multiple states.

Back in May, Mitch Baruchiwitz, managing partner at cannabis investment firm Merida Capital Partners, argued in a paper that the pandemic was ‘cannibalizing’ the illegal market. “The vast majority of the current growth in the cannabis space is being driven by consumers transitioning from the black market to the legal market,” he wrote.

With millions of Americans stuck at home waiting for the virus to die out, plenty of them have been consuming marijuana to alleviate their stress and anxiety. However, marijuana from the illegal market is unregulated and the quality cannot be assured. Consumers want high quality, properly regulated products and they have started turning to the state legal cannabis market to get their fix. According to New Frontier Data, revenues are expected to hit $17 billion this year, a 25% increase from last year’s figures.

As the coronavirus pandemic puts an immense strain on the economy, states may choose to legalize cannabis sales to beef up their budgets. Krane points out how the government ended alcohol prohibition soon after the Great Depression to boost revenues.

“Alcohol prohibition was largely ended as a result of the Great Depression, as the country was in desperate need of new sources of revenue. It went from something that was seen as politically impossible to a political necessity in a very short amount of time, and I think we’re seeing a similar situation here.”

Analysts think entities like Sugarmade, Inc. (OTCQB: SGMD) are glad that this pandemic has had the unexpected positive effect of denting illicit pot sales.

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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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CBDNewsBreaks – The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) Announces A88CBD(TM) and Elevated Wellness Partnership

The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER), a producer of premium bottled alkaline and flavored-infused waters and CBD-infused products, today announced that A88CBD(TM)’s complete portfolio of CBD topicals and ingestible products will be available in Elevated Wellness’ retail locations and its e-commerce store. “The Alkaline Water Company family is thrilled to announce its partnership between A88CBD™ and Elevated Wellness,” Richard Wright, president, and CEO of The Alkaline Water Company, stated in the news release. “This collaboration not only includes all A88CBD(TM) products in-store at Elevated Wellness’ Austin locations and online on its e-commerce store, but also co-branding opportunities to increase A88CBD(TM)’s brand awareness in their local markets. Elevated Wellness is committed to a long-term partnership, and following the Austin launch, we will be serving their Houston locations as well. There truly is an A88CBD(TM) product for every consumer. Elevated Wellness’ categories, both in-store and online, match A88CBD(TM)’s goal to provide users with products for all of their self-care needs. Whether providing relief post-workout or nourishing skin, A88CBD(TM) products fit all wellness lifestyles.”

To view the full press release, visit http://cnw.fm/iFF9B

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 purchase A88CBD(TM) products online, visit www.A88CBD.com. To learn more about The Alkaline Water 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

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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.

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