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 – Four Ways the Marijuana Industry Can Benefit from the HEROES Act

Experts say we may be facing up to two years of intermittent lockdowns before the coronavirus is finally eradicated, and the economy will take even longer to spring back to pre-pandemic levels. At the moment, most regions in the U.S. are still under lockdown orders, and while this has helped reduce infections, the effect it has had on the economy has been catastrophic.

The cannabis sector was one of the few industries that were deemed essential and allowed to continue operating amidst lockdown orders. However, due to federal prohibition, the industry has been operating at a stark disadvantage. The federal government released emergency relief funds to help small businesses weather the storm, but the state-legal marijuana industry has been denied access to these funds.

To make matters worse, these businesses have been locked out of most banking services. Banking institutions may be subject to federal retaliation if they transact with the state-legal industry, and this has forced marijuana businesses to transact on a cash-only basis. Not only does having lots of cash on hand put you at risk of theft, but it also puts employees, and customers at risk of infection.

The Health and Economic Recovery Omnibus Emergency Solutions (“HEROES”) Act, a $3 trillion stimulus package, would help the industry immensely. Although it doesn’t grant the industry access to federal emergency relief funds, it contains language from the industry-lauded Secure and Fair Enforcement (“SAFE”) Banking Act, which would give cannabis businesses and their ancillary business partners access to the banking sector.

If it is passed, the HEROES Act would:

Allow cannabis businesses to access much needed banking services like loans, credit lines and bank accounts. At the moment, the banking sector treats such businesses like pariahs and with the current health and economic crisis, this has put them at a severe disadvantage. The HEROES Act will allow the banking sector to transact with cannabis businesses without fear of federal retaliation.
Additionally, customers will now be able to use credit and debit cards as the Act will allow marijuana businesses to finally use credit card processing services. They will be subject to lower debit card fees as credit companies compete for the new market. It may also aid bottom lines as studies have shown that people are more likely to spend more when using credit cards compared to cash.
Consumers will also spend less on fees, specifically ATM fees, which can and will add up if ATM transactions are part of your cannabis purchases. Using debit or credit cards would be more economical in the long run. If firms adapt to a cashless system, they will spend less on security to keep the staff safe from petty theft, and these cost savings can be passed down to the consumers.
Finally, and most importantly, it will prevent the spread of the coronavirus. It is a known fact that the virus is still viable after extended stays on surfaces like cash and plastic. In fact, money was never hygienic to begin with, and therein lies the danger of cash-only transactions. Eliminating physical currency from the equation would limit the contact between staff and customers, thereby reducing their chances of contracting and spreading the virus.

The progress of this proposed law will no doubt be monitored closely by cannabis sector players like Round Meadow Holdings Corp. and Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496) to see how the lawmakers debate and vote on this bill.

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 – Reasons for Some Marijuana MSOs Thriving While Others Struggle During This Pandemic

2020 will without a doubt go down in history as one of the most challenging years of the century. It started with the discovery of a novel coronavirus in Wuhan, China in late 2019, and snowballed into a global health and economic crisis that we will take years to recover from. The pandemic has led to an economic downturn of immense proportions, with the U.S. suffering Great Depression-era levels of unemployment.

The crisis has hit most businesses hard, especially those in the tourism and hospitality sector. The state legal cannabis industry was declared essential by most states, allowing them to remain open during the lockdown. However, it hasn’t been smooth sailing, and quite a number of multistate marijuana operators have been unloading assets, cutting overhead costs and scraping plans for expansion.

Other MSOs haven’t had it so bad, and they’ve been able to weather the crisis a lot better than their counterparts have. Why is that? For starters, preparedness is key, and most of the multistate marijuana operators that are doing well had a capital and cash-flow cushion of at least two years. Illinois-based Cresco Labs, for example, had a 70 month cushion while Florida-based Trulieve had a cash coverage of 44 months.

This gave these firms a parachute to use once lockdown orders were issued and the economy slowed to a crawl. On the other hand, MSOs that had less than a year of cash coverage had to quickly raise more money or they would have cash flow issues. Additionally, struggling MSOs seem to have weak competitive positions in markets, and this put them in a vulnerable position once the pandemic hit.

According to Mike Reagan, an equity analyst and managing member of Denver-based MJResearchCo, it’s important for a company to have a dominant or strong position in the markets rather than be a small player in many markets. “Ideally, you want to dominate a lot of markets, but that’s hard in cannabis because each market is different.”

Finally, MSOs that are thriving centered their expansion plans on realistic expectations based on ROI. Tons of cannabis companies spent 2017-2019 acquiring assets and expanding their capacity, and most of it was financed by investors who were not concerned with an immediate return on their investment. Instead of focusing on reasonable goals and working on investment payback, they burned through cash so they could be able to claim they were growing through “massive news announcements,” says Lee Dorkin, founder of Colorado-based Emprouen Advisors, a cannabis management and consulting firm.

“But that’s absolutely the wrong approach and why we have a trail of failed MSOs at our feet right now.”

Industry watchers assert that companies like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) are closely analyzing how different MSOs are faring in order to learn and implement vital lessons going forward.

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CannabisNewsBreaks – Cannabis Global, Inc. (MCTC) Discusses Strong Solution with Expected 50%+ Cost Advantage in Production of THC-V and Other Rare Cannabinoids

Cannabis Global (OTC: MCTC), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, today announced information on its Project Varin, a nearly complete research program implemented to develop novel production technologies for rare cannabinoids, including tetrahydrocannabivarin (“THC-V”), which is not scheduled at the federal level. According to the update, the program has produced meaningful technology breakthroughs resulting in several patent filings. The company has been able to leverage these technological developments to significantly reduce the cost of exotic cannabinoids on a per-serving basis resulting in a greater than 50% expected cost advantage. “We think we have rewritten the exotic cannabinoid cost equation via our Project Varin. The minor exotics represent a new cost challenge for the industry, and we believe we have developed a strong and defensible solution,” Arman Tabatabaei, CEO of Cannabis Global, stated in the news release. “Acquiring THC and CBD from plants within the Cannabaceae family is relatively easy as these cannabinoids are produced by nature in abundance. It is a very different issue relative to THC-V, CBN, and other exotics. With our patent pending technologies, we have been able to rewrite the cost equation for minor cannabinoids, while at the same time moving well beyond the purity possible from legacy technologies. While we are already at a 50% cost advantage to the competing technologies, most of which are still theoretical and not yet available on the market, we believe further travel down our cost curve is possible as we move into high volume manufacturing this month.”

To view the full press release, visit http://cnw.fm/wJI0t

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 is 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 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 – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Update on Insolvency Proceedings Under the CCAA

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) and certain of its direct and indirect wholly owned subsidiaries (collectively “GGB”, the “company” or the “Applicants”) on Tuesday released an update on its insolvency proceedings under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”). As announced on May 20, 2020, GGB filed for insolvency protection under the CCAA and obtained an order from the Ontario Superior Court of Justice (the “Court”) granting protection for an initial 10 day period until May 29, 2020, as extended until June 12, 2020. According to the update, the Court, on June 2, 2020, granted a motion filed by the company and issued an order. The “Amended and Restated Order”: (i) extends the stay period until August 15, 2020; (ii) increases the amount of the Court-ordered charge over the Applicants’ assets, property and undertakings in connection with the Applicants’ debtor-in-possession financing agreement with All Js Greenspace LLC (“All Js”) (the “DIP Agreement”); (iii) approves the implementation of a sale and investment solicitation process (the “SISP”); and (iv) approves a stalking-horse agreement among the company, All Js and Capital Transfer Agency in its capacity as the debenture holder trustee of the company’s (A) US$45,500,000 aggregate principal amount of 15.00% secured convertible debentures that matured May 17, 2020 and (B) US$23,717,000 aggregate principal amount of 5.00% secured convertible debentures maturing in 2024 (All Js and Capital Transfer Agency in such capacities are collectively referred to as the “Secured Credit Bidders”) pursuant to which the Secured Credit Bidders would act as stalking-horse bidders under the SISP.

To view the full press release, visit http://cnw.fm/b2v0W

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 expanding its cannabis operations throughout the U.S., via dispensaries in Nevada, Massachusetts and Florida. For more information, visit the company’s website at www.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

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 Could Hold the Key to the US Obesity Pandemic

For the past decade and more, the U.S. has been up against a silent but deadly foe, obesity. According to statistics from the Centers for Disease Control (CDC), 36.5% (one third) of American adults and 17% of children were obese by 2019, and the numbers aren’t reducing any time soon. Further research has suggested that over half of the country’s population will be obese within the next ten years, with one in ten Americans being severely obese.

While there are genetic factors that will increase your chances of being obese, it is often a result of poor lifestyle choices, and it has led to a massive surge in type 2 diabetes cases. Ultimately, the best defense against these two deadly conditions is an active lifestyle coupled with a healthy diet. Fortunately, studies have found that cannabis may be a unique treatment to the obesity pandemic that’s been sweeping the country.

How so? First, you have to understand how obesity has become such a big issue in America.

A common joke among non-Americans and Americans themselves is that American portions are comically large. Most of the time, these aren’t healthy foods, and the unfortunate thing is that they are extremely accessible. Constant consumption of such high fat and sugar diets will literally rewire your brain’s reward system, so that each time you indulge in something sweet your brain gets flooded with ‘feel good’ hormones. Thus you will seek out and ingest more sugar, falling into a rabbit hole of low impulse control and unhealthy eating that will lead to obesity and diabetes.

Enter cannabis. Cannabis works by interacting with the endocannabinoid system (ECS), a peripheral nervous system that regulates functions like sleep and pain that determine the internal balance or homeostasis of the body. It produces a variety of chemicals, or cannabinoids, unique to the cannabis plant, and they interact with this system. THCv, or delta-9 tetrahydrocannabivarin, for instance, is involved with lipid and glucose metabolism, and clinical studies on type 2 diabetes have found that it influences glycemic control. In tests on mice, cannabidiol (CBD) has been found to lower the occurrence and delay the onset of diabetes.

Researchers have also suggested that due to its impact on the fat cells that make up the adipose layer, CBD could be used as a potential treatment for diabetes. Cannabis also produces a range of terpenes, many of which have antioxidative properties that promote lipid and glucose metabolism as well as limit chronic inflammation. Ocimene and alpha-bisabolol are especially potent antioxidants, and they can suppress the production of several different inflammatory substances which can lead to type 2 diabetes and hypertension.

Your first defense against obesity and conditions like diabetes and hypertension should be a healthy diet and lifestyle. Coupled with the therapeutic potential of cannabis, this will go a long way in keeping you fit and healthy.

This information is likely to be music to the ears of cannabis companies like Sugarmade Inc. (OTCQB: SGMD) which are convinced that the full benefits of the cannabis plant could take decades to be fully documented.

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420 with CNW – Marijuana Business Losses During the Pandemic May Be Covered by Insurance

2020 definitely isn’t playing out how we thought it would. America started the year with record low unemployment rates but by the end of May, had lost most of the gains it had made in the past fifty years and was looking at Great Depression levels of unemployment. Small businesses have definitely been hit hard, with most of the government issued coronavirus-related measures disrupting their operations and effectively cutting off their cash flows. Although most states with legal cannabis deemed the industry essential, cannabis establishments haven’t been spared from losses.

The federal government issued disaster relief funds to be dispersed to small businesses through the Small Business Administration but due to federal prohibition, cannabis businesses have been denied access to these funds. However, this doesn’t mean you just have to grin and bear it. Insurance may be a way to reduce the financial trauma your business is currently experiencing. Business interruption insurance, for instance, covers losses from direct interruption to the insured’s operations due natural disasters or fire, and the insurer makes good on items such as lost revenues, rent or utilities.

Contingent business interruption, on the other hand, is generally concerned with lost income due to third party issues like problems with vendors or suppliers. However, the type of coverage you get depends on the policy and riders you purchased. After the 2003 SARS outbreak, most insurers started excluding coverage from disease outbreaks, but some insurers offer disease-related riders for purchase.

Conventional policies can cover everything from payroll, extended period of indemnity, contingent extra expense (reimburses lost profits and expenses arising from interruptions at the supplier’s or customer’s location), to ingress/egress which pays for loss of income caused by physical loss that prevents entry into the insured’s business. Many policies that cover business interruption provide that mere loss of income alone may not qualify, and they require the insured to prove they have lost physical use of the business.

If you were lucky or blessed with the foresight to get disease-specific coverage, it could offer compensation for losses arising from the temporary closure of the business to sanitize and protect employers and consumers.

The first thing you ought to do if you’re hoping to get some coverage during this crisis is to request a copy of your policy. Go through it with a fine-toothed comb to see what exactly is covered and what isn’t. Since such documents tend to be drafted by insurance companies’ lawyers, try to get help from someone equally knowledgeable to level the playing field. You may end up getting enough coverage to help you weather the coronavirus pandemic.

Analysts say all cannabis sector players, such as SinglePoint Inc. (OTCQB: SING), are likely to learn lots of lessons from this pandemic and expand their insurance coverage to avoid suffering lots of losses when another disaster of this magnitude strikes.

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CannabisNewsBreaks – Wildflower Brands Inc. (CSE: SUN) (OTC: WLDFF) Announces $5.3 Million in Revenues for Q3

Wildflower Brands (CSE: SUN) (OTC: WLDFF) today announced $5.3 million in revenues in its third quarter, compared to $2.5 million in the previous year’s third quarter and $5.5 million in the second quarter. According to the update, revenues were slightly less than last quarter; however, even with unforeseen circumstances and business affected by Covid-19, Wildflower was able to operate with a net gain of $101,435 compared to a loss of $(1,019,862) in the third quarter of 2019. Wildflower’s U.S. operations have been curtailed due to the closure of many retail locations where the Company’s products are sold. Manufacturing and sales activities have been scaled back to align Wildflower’s resources with the current business environment. The Company is also investigating government sponsored assistance programs to support its employees and their families.

To view the full press release, visit http://cnw.fm/7HGxD

About Wildflower Brands Inc.

Wildflower Brands is a Vancouver-based company developing and designing brands that focus on plant-based health and wellness products. All of the company’s brands work in synergy, toward becoming a global wellness leader. For more information about Wildflower Brands, visit www.WildflowerBrands.co. To learn, engage and shop for wellness products visit www.BuyWildflower.com.

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CannabisNewsBreaks – Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) to Secure $11.25 Million in Bought Deal Public Offering

Cardiol Therapeutics (TSX: CRDL) (OTCQX: CRTPF), a leader in the production of pharmaceutical cannabidiol (“CBD”) and the development of innovative cannabidiol products for heart diseases, recently announced its entry into an agreement with Canaccord Genuity Corp. (the “Lead Underwriter”). Under the arrangement, the Lead Underwriter agreed, on behalf of a syndicate of underwriters, to purchase, on a bought deal basis per the filing of a short form prospectus, an aggregate of 4,500,000 units, each at a price of $2.50, for aggregate gross proceeds of $11,250,000 to the Company. Cardiol intends to use the proceeds to support commercialization of its pharmaceutical cannabidiol products, its ongoing research and clinical development programs focused on heart failure, additional product development, as well as for general corporate purposes.

To view the full press release, visit http://cnw.fm/9otIJ

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) is focused on producing pharmaceutical cannabidiol (“CBD”) products and developing innovative therapies for heart diseases, including acute myocarditis and other causes of heart failure. The Company’s lead product, CardiolRx(TM), is formulated to be the most consistent cannabidiol formulation on the market. CardiolRx is pharmaceutically produced, manufactured under cGMP, and is THC free (<5 ppm). The Company also plans to commercialize CardiolRx in the billion-dollar market for medicinal cannabinoids in Canada and is pursuing distribution opportunities in Europe and Latin America.

In heart failure, Cardiol is planning an international clinical study of CardiolRx in acute myocarditis, a condition caused by inflammation in heart tissue, which remains the most common cause of sudden cardiac death in people less than 35 years of age. The Company is also developing proprietary nanotechnology to uniquely deliver pharmaceutical cannabidiol and other anti-inflammatory drugs directly to sites of inflammation in the heart associated with heart failure. Heart failure is the leading cause of death and hospitalization in North America with associated annual healthcare costs in the U.S. alone exceeding $30 billion. For further information about Cardiol Therapeutics, please visit CardiolRX.com.

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CannabisNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Engages PCG of New York for IR and Digital Marketing Services

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), a global innovator in drug delivery platforms, on Monday announced that it has retained PCG Advisory, Inc. (“PCG”) of New York, to provide investor relations and digital marketing services to the Company in compliance with regulatory guidelines. According to the update, PCG’s sectors of deepest experience include life sciences, technology and cannabis, and it reaches thousands of individual, retail and institutional investors daily using the latest social media and digital marketing techniques. PCG will develop a comprehensive strategy to increase investor awareness of Lexaria, amplify market visibility, and introduce the Company to its proprietary investment community network that includes institutional funds, banks, analysts and brokers.

To view the full press release, visit http://cnw.fm/3dY2Z

About Lexaria

Lexaria Bioscience Corp. is a global innovator in drug delivery platforms. Its patented DehydraTECH(TM) drug delivery technology changes the way Active Pharmaceutical Ingredients enter the bloodstream, promoting healthier ingestion methods, lower overall dosing and higher effectiveness for lipophilic active molecules. DehydraTECH increases bio-absorption; reduces time of onset; and masks unwanted tastes for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (“NSAIDs”), nicotine and other molecules. Lexaria has licensed DehydraTECH to multiple companies in the cannabis industry for use in cannabinoid beverages, edibles and oral products; and to a world-leading tobacco producer for the development of smokeless, oral-based nicotine products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 16 patents granted and over 60 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

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420 with CNW – Veterans and Scientists Sue DEA for Blocking Marijuana Rescheduling

According to a new lawsuit against the Drug Enforcement Administration [DEA], the agency is relying on scheduling standards that are arbitrary and misinterpret federal law to classify marijuana. The latest of many marijuana related lawsuits against the DEA, it has called into question the agency’s denial of prior cannabis rescheduling requests. The suit was filed in the U.S. Ninth Circuit Court of Appeals by the Scottsdale Research Institute [SRI].

The institute requested a review of the DEA’s scheduling determinations in 2020, 2016 and 1992 when the agency denied the petitions citing statutory obligations to maintain the status of cannabis as a Schedule 1 drug under the Controlled Substances Act. The petitioners also requested a review of the agency’s claims that marijuana must be strictly scheduled because according to the government, it currently has no acceptable medical value and has not been proven safe. Additionally, they argue that another statutory policy which the DEA says necessitates marijuana being strictly controlled is unconstitutional.

“The reason we’re filing this is because, ultimately, research has been impeded. We\re trying to get the administration to remove the roadblocks,” says Matt Zorn, an attorney representing the Scottsdale Research Institute.

The DEA states that there are five criteria a substance must meet in terms of therapeutic value, including the responsibility of the drug, the existence of controlled studies establishing safety and efficacy and whether the drug is not accepted by qualified experts. According to the attorneys representing SRI, the test has “no basis in the statute, is contrary to the statutory text, structure, history, and purpose, and departs from the original understanding of the statute and rests on flawed and outdated case law.”

They argue that the drug agency’s determination that there is a “lack of accepted safety for use of marijuana under medical supervision” is wrong because it “misconstrues the statute and is arbitrary, capricious, and contrary to law because the agency has improperly imported a clinical efficacy requirement.” On numerous occasions, the agency has asserted that marijuana can only be placed in either Schedule I or II, but the attorneys say the statute used to justify this assertion is “an unconstitutional delegation of legislative authority that violates separation of powers principles by granting the attorney general authority to schedule drugs on his or her discretion based on an interpretation of international treaty obligations.”

“The statute outsources regulatory power to create domestic and international organizations and subordinates domestic law to treaty obligations, conventions and protocols. Then, it entrusts the Attorney General, a member of the executive branch, to execute non-self-executing international treaty obligations, providing him no intelligible principle, instructions, standards, or criteria whatsoever against which to measure what ‘he deems most appropriate.’ This is unconstitutional.”

It is believed that the entire cannabis industry, including companies like Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496), will follow this case keenly since it has the potential to change the way marijuana is regulated in the U.S.

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