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 – How Existing Laws Are Making Cannabis Research Difficult

Cornell University secured a $4 million grant from the New York State government to conduct cannabis research soon after hemp pilot programs were established under the 2014 Farm Bill. However, the challenges that these Cornell researchers are facing are typical of what other cannabis researchers are going through as explored below.

The Problematic Legal Definition of Hemp

Currently, the difference between industrial hemp and marijuana is a legal one rather than a botanical one. By law, hemp is cannabis whose THC content doesn’t exceed 0.3% while marijuana is cannabis whose THC content is more than 0.3% on a dry weight basis.

To compound matters even more for researchers, this definition was modified to include the precursors of THC, and this, in effect, means that more than 61% of all hemp plants grown can fail the federal test and must therefore be destroyed.

The CBD-THC Relationship

Matters don’t get any easier for researchers when you consider the relationship between THC and CBD in plants. These two cannabinoids occur in fixed ratios, such as 20:1 for hemp varieties that yield a high CBD content.

Since an increase in CBD content comes with an even higher level of THC, researchers find it difficult to work with hemp varieties that can produce a CBD concentration that is higher than 6% since this would result in the plants having THC levels which exceed the federal limit for hemp. Unfortunately, breeders haven’t been able to find a way around this barrier.

Challenges in Developing New Breeds

Plant breeders require access to a wide variety of plant resources in order to come up with desired varieties of a given plant. For example, breeders can consider as many of the existing varieties of hemp and marijuana in order to select the most desirable attributes or genes from each, and then use that collection to develop a superior variety.

However, the existing federal laws bar these plant breeders from using genetic material from some cannabis varieties which yield high levels of THC. This has the knock-on effect of limiting the ease with which breeders can innovate and bring to market new viable varieties.

The Cornell University researchers, along with researchers elsewhere, hope that lawmakers can tweak the regulations governing the research community so that the researchers can have some leeway to work with cannabis varieties which yield a high THC content as long as the objective is to develop hemp varieties which are compliant with the federal restrictions.

Unfortunately for these researchers, only Congress can change the 0.3% THC limit for hemp, so their only hope for now is that state legislators can pass state-level laws tweaking the requirements for the research community. Analysts agree that entities like Pure Extracts Corp. will be waiting to see what changes the USDA makes to its interim final rule on hemp once they review the comments submitted by stakeholders.

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) BudCars Achieves Another Breakout Month With Record Growth in Every Metric

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today provided current and prospective shareholders with BudCars performance data for the month of June. According to the update, BudCars achieved total sales of $502,903 in June, representing 36% sequential monthly top-line growth, with total sales and profits now growing by more than 30% m/m for the third consecutive month. “June was another breakout month for BudCars growth across basically every single metric important to gauging our progress,” Jimmy Chan, CEO of Sugarmade, stated in the news release. “Our pricing improved. Our average order improved. We did more business with more people and booked a significant jump in gross profits while holding our 47% gross margin level as volume increased. We look forward to continued breakout growth in July.”

To view the full press release, visit http://cnw.fm/8ScL4

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Its Brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, please reference 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 – Marijuana Company of America, Inc. (MCOA) Appoints Current Board Member as EVP of Mergers and Acquisitions

Marijuana Company of America (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced the appointment of Themistocles (Tim) Psomiadis as Executive Vice President of Mergers and Acquisitions. A member of MCOA’s Board of Directors since February 28, 2020, Psomiadis will be instrumental in the implementation of the Company’s strategy of accelerating growth through key acquisitions. “The addition of Tim to our group, as both member of the board and Executive Vice President of Mergers of Acquisitions is a true game changer for our Company,” MCOA CEO Jesus Quintero stated in the news release. “He brings a wealth of knowledge and expertise that is invaluable to MCOA. Tim is very well connected and respected in the industry and working together with Marco, he will help us launch this endeavor.”

To view the full press release, visit http://cnw.fm/P73Gj

About Marijuana Company of America Inc.

MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART(TM), which targets general health and well-being; (2) an affiliate marketing and retail sales program to promote and sell its legal hemp-based consumer products containing CBD; (3) joint ventures and acquisitions of business entities engaged in the growth and sale of hemp and cannabis products in jurisdictions where cultivation is legal; and (4) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop. For more information, visit www.MarijuanaCompanyofAmerica.com.

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

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420 with CNW – Why 9 in 10 NY College Students Support Marijuana Legalization

A survey done among college students shows that more than 90% of them support the legalization of marijuana in New York State where the laws are in so much flux that one can’t tell which direction cannabis policy will take in a few weeks or months.

The survey involved more than 250 college students in the state. While it can be regarded as an unscientific survey due to its sampling method which encouraged respondents to pass on the questionnaire to their friends and associates (a snowball way of getting survey respondents), the findings are nevertheless reflective of the general sentiments of this demographic.

The survey, conducted by NewsHouse, confirmed that lots of students consume recreational marijuana on the sly, and many more have used cannabidiol (“CBD”) products at least once on their college campuses.

The students revealed that their primary reason for switching to recreational marijuana as their drug of choice is that its effects weren’t as bad as what they suffered after a night out taking alcohol.

Many of the students also said that they are interested in enrolling for courses on marijuana, and this isn’t surprising because many Empire State universities and colleges have seen the keen interest in such courses and therefore started offering them to interested students.

The divide between the college students and their parents was also highlighted during the survey. Many students intimated that they hid their recreational use of marijuana from their parents because the parents believed that once their kids smoked a single joint, the children would start down a slippery road to harder substances. To avoid arguments on the subject, the college students opted to keep their habit on the down low.

During his State of the State address delivered in January, Gov. Cuomo renewed calls for recreational marijuana to be legalized in New York State. His statements drew attention to the often polarized debate on marijuana which stalled last year and was due to resume this year but the COVID-19 outbreak changed the legislative priorities of the state lawmakers. At the end of last year, there was consensus that recreational marijuana should be decriminalized rather than going for full legalization.

New Yorkers now have to sit out another year before seeing recreational marijuana permitted in the state. If the college student survey results are anything to go by, analysts believe that the hopes of the entire cannabis industry, including players like SinglePoint, Inc. (OTCQB: SING), to see marijuana legalized from coast to coast will slowly be realized.

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420 with CNW – Why NJ Medical Cannabis is Slated to Get a Lot Cheaper

On July 1, New Jersey is slated to reduce the sales tax on medical marijuana from 6.625% to 4%. This move is the first in a series of measures that will see state sales taxes removed entirely within a space of three years. On July 1 next year, the tax will reduce to 2% and the following year (July 1, 2022) will see the reduction to a 0% state sales tax.

However, the sales tax reforms which roll out tomorrow don’t mean that buyers of medical marijuana will not pay any taxes on their purchases. Municipalities within New Jersey are still allowed to impose a 2% sales tax within their jurisdictions, but so far, no town has invoked this provision to levy the tax.

The plan to phase out sales taxes on medical marijuana were part of the Jake Honig Compassionate Use Act enacted into law last year. The bill was named after Jake Honig, a 7-year old kid from Howell who had an inoperable tumor in the brain. Only medical marijuana gave him any relief until he passed in 2018.

Activists raised an uproar about the sales taxes imposed by the state on medical marijuana. This outcry was prompted by the fact that prescription medications are exempted from state sales tax. The activists therefore wanted medical marijuana to be regarded in the same way since it is a prescription medicine in New Jersey.

While the bill was being debated in the state legislature, several lawmakers called the sales tax “criminal” since working class and poor families would suffer an added burden while acquiring the medicine they need.

Currently, more than 77,000 people are registered on the state’s medical marijuana program. However, supply chain problems and the resulting prohibitive prices (medical marijuana can cost approximately $500 an ounce) have plagued the progress of the sector.

As the tax cuts kick in, an ounce of medical marijuana will drop to about $469.15. This will bring some relief to patients, and as the supply issues are sorted, prices could drop even further.

At the moment, only nine clinics are open to sell medical pot to patients across the state. Other locations that were pre-approved haven’t opened their doors to customers due to ongoing legal battles.

In November, New Jersey voters are slated to vote on a ballot measure that could see recreational marijuana legalized. If the bill passes, dispensaries will be allowed to sell recreational marijuana to adults who are 21 or older.

The reduction of the state sales tax on medical marijuana is likely to be welcomed by the entire industry, including Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) since it makes products more affordable for patients.

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HempNewsBreaks – Cannabis Global, Inc. (MCTC) Launches Newest Line of Branded Products – “Hemp & Booch” Super Premium Kombucha

Cannabis Global (OTC: MCTC), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, today announced the launch of its newest line of branded products, Hemp & Booch Super Premium hemp-infused Kombucha. A revolution in the Kombucha beverage market, the product line is based on the finest ingredients available and powered by the Company’s Hemp You Can Feel(TM) infusions. “Hemp & Booch not only sets the standard for taste and purity, but also for the relaxing effect provided by the Company’s patent pending Hemp You Can Feel(TM) infusions,” Arman Tabatabaei, Cannabis Global CEO, stated in the news release. “Our new line is based on the best all-natural ingredients available, and we believe this comes across in the taste of the products, which are now available in sample quantities.”

To view the full press release, visit http://cnw.fm/JdRW2

About Cannabis Global, Inc.

Cannabis Global, Inc., 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 MCTC. 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 MCTC are available in the company’s newsroom at http://cnw.fm/MCTC

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 – Marijuana Could Help Prevent Diabetes Resulting from Severe COVID-19

A lot is being learned about the intersection between consuming marijuana and diabetes. Recently, a team of researchers has revealed that lots of people may be prone to developing diabetes after suffering from the severe forms of the COVID-19 disease. This complication can be alleviated using cannabis, the researchers think.

To confirm this theory, the researchers have set up a registry aimed at gathering data from doctors to establish how many people develop diabetes after suffering from severe COVID-19 and how many of those people had a history of using marijuana either recreationally or for medicinal purposes.

The CoviDiab Registry, as the researchers have called this research registry, is run by a team from the King’s College London in the UK.

They plan on building upon some earlier research which was completed towards the end of 2019. In that study, it was discovered that people who consumed marijuana had moderate blood glucose levels, an indicator that the person was less likely to develop diabetes. A similar study also found that the fasting insulin concentration in study subjects who consumed marijuana was lower than those who didn’t.

The King’s College London team is studying whether marijuana can increase the body’s ability to protect beta cells in the pancreas, thereby averting Type 1 diabetes which develops when the body is unable to make insulin.

The researchers also want to find out whether marijuana consumption accelerates the rate at which insulin production and sensitivity can resume after the ability of an individual’s body to process insulin has been compromised by severe COVID-19.

It is important at this point to emphasize that the link between marijuana use and COVID-19 is two-way. On the one hand, people who smoke marijuana are at a higher risk of contracting COVID-19 because smoke of any kind has an adverse effect on the lungs, thereby increasing your chances of suffering from severe forms of the COVID-19 disease.

On the other hand, marijuana use has been linked to improved metabolic function, a stronger immune system and a host of other therapeutic effects, all which put you in a good place to beat the COVID-19 disease should you ever contract it. The key here is in choosing your mode of marijuana administration carefully so that you get the benefits without exposing yourself to the risks. And above all, consult your doctor, especially when you are predisposed to developing diabetes. This message of caution resonates with what cannabis companies like Sugarmade, Inc. (OTCQB: SGMD) have been communicating to consumers, urging them to educate themselves before trying any cannabis product.

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420 with CNW – Federal Commission Supports Expanding Psychedelics and Cannabis Research for Military Veterans

A federal commission that was asked to generate recommendations which will help to improve how military veterans suffering from mental health issues are treated has come to an unexpected conclusion urging the legislative and executive branches of the U.S. federal government to do everything possible to ease research into psychedelics and marijuana.

After months of meetings, the commission, named Creating Options for Veterans’ Expedited Recovery (“COVER”), released its findings in a report authored in January. Surprisingly, this report hasn’t drawn as much attention as it deserves among the marijuana law reform movement and the media.

The panel, led by Jake Leinenkugel (a presidential nominee), asserted that psychedelics, such as MDMA and psilocybin, as well as marijuana, present promising ways to treat mental health conditions among military veterans.

The panel also noted that while medical marijuana and some psychedelics have been used while treating military veterans, the Schedule 1 status of these substances prevents the Department of Veterans Affairs (V.A.) from doing any research about the efficacy or risks of these treatment options.

Furthermore, the scheduling status of psychedelics and marijuana in the Controlled Substances Act makes it very hard for entities interested in doing research to obtain regulatory approval for the planned studies. The researchers are required to get permission from many federal government agencies, and some of those agencies are openly opposed to any medicinal use of marijuana.

The supply of research-grade marijuana, together with other controlled substances, is woefully inadequate. Reports also indicate that the marijuana available from the sole government-approved supplier in Mississippi is chemically closer to industrial hemp than to the marijuana which is available in the retail dispensaries in states where marijuana has been legalized.

For this reason, the COVER panel recommends that the legislature and the executive arms of the federal government compels NIDA (National Institute on Drug Abuse) to develop varieties of marijuana whose THC content is at par with the medical marijuana that patients are accessing in states with enabling marijuana laws. This will ensure that researchers engage in research whose findings have relevance to the community.

The panel also wrote that using medical marijuana and psychedelics as treatment options for military veterans has cost implications and yet there is limited information about the efficacy and risks associated with these products. The VA was therefore urged to conduct rigorous research so that answers can be obtained about medical cannabis and psychedelics.

In the same vein, physicians working with the VA need to be equipped with research-based information about cannabis, MDMA and psilocybin so that they can have meaningful discussions with the military veterans in their care.

Since the panel has members selected by the President and those co-opted by Congressional leaders, analysts say sector companies like Pure Extracts Corp. hope the report will be given the seriousness it deserves and prompt action taken to correct the problems identified.

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Announces Completion of Non-Dilutive Share Exchange Transaction, Share Structure Update

Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis and hemp branded products company in the U.S., today announced the completion of a non-dilutive share exchange transaction (the “Transaction”), under which an existing Company shareholder exchanged 75,500 Common Shares for 15,100,000 newly created Class B Common Shares (the “Class B Subordinate Voting Shares”), on the basis of 200 Class B Subordinate Voting Shares for each Common Share. Per the update, the aggregate value of the exchanged Common Shares (CAD$0.7405 per share, representing an aggregate value of CAD$55,907.75) was equivalent to the aggregate value of the newly issued Class B Subordinate Voting Shares (CAD$0.0037025 per share, representing an aggregate value of CAD$55,907.75). In aggregate, the 15,100,000 Class B Subordinate Voting Shares represent the same economic and voting rights as the 75,500 Common Shares for which they were exchanged. The Transaction will not adversely impact the economic or voting rights of current holders of Common Shares.

To view the full press release, visit http://cnw.fm/EHJh9

About PLUS

PLUS is a cannabis and hemp branded products company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA. For more information, visit the Company’s website at www.PlusProducts.com.

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

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 – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Expiry of Forbearance Agreement with Green Ops

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) on Friday announced the expiration of the forbearance period (“Forbearance Period”) pursuant to the terms of the forbearance agreement (the “Forbearance Agreement”) with Green Ops Group LLC (“Green Ops”) previously announced on May 20, 2020. Per the update, the expiration of the Forbearance Period entitles Green Ops to exercise any and all of its rights under the loan documents and applicable law, and GGB is precluded from contesting any such enforcement action under a separate Voluntary Surrender of Collateral in Satisfaction of Debt and Release Agreement among the parties.

To view the full press release, visit http://cnw.fm/Jc1O6

About Green Growth Brands Inc.

Green Growth Brands creates remarkable experiences in cannabis. The company’s brands include CAMP, The+Source and 8 Fold. GGB is continuing its cannabis operations throughout the U.S., via dispensaries in Nevada and Massachusetts. Learn more about the vision at GreenGrowthBrands.com.

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

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