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 Financial Results for Q3 2020

Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced its financial and operating results for the three and nine months ended March 31, 2020. “In our third quarter, we made significant progress towards our goal of improving the company’s cost structure while creating opportunities for near-term revenue growth. Although much of this progress is not reflected in our Q3 financial results, we did begin to see the early impacts of our rightsizing and revenue generation efforts,” Colin Moore, who recently served as interim president and CEO of Supreme Cannabis, stated in the news release. “Excluding restructuring charges, we reduced our operating expenses by 23% quarter-over-quarter and improved our speed to market introducing 10 new SKUs since the beginning of calendar year 2020. We expect to continue to see improvements to our cost structure as we realize further production efficiencies at our completed facilities and anticipate improved recreational sales with our enhanced product portfolio. In my current short-term role as an advisor to our new CEO, Beena Goldenberg, and in my position as a director, I look forward to supporting the company as it continues to progress toward near-term profitability.”

To view the full press release, visit http://cnw.fm/1TR7y

About Supreme Cannabis

The Supreme Cannabis Company, Inc., (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world’s fastest-growing, premium plant-driven lifestyle companies. Supreme Cannabis’ portfolio of brands caters to diverse consumer experiences, with brands and products that address recreational, wellness, medicinal and new consumer preferences.

The Company’s brand portfolio includes, 7ACRES, Blissco, Truverra, Sugarleaf and Khalifa Kush Enterprises Canada. 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, centralized manufacturing 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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CanadianCannabisWire.com

Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

CannabisNewsBreaks – VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) Announces Results for Q1 2020

VIVO Cannabis (TSX: VIVO) (OTCQX: VVCIF) on Thursday released its first quarter 2020 financial and operating results. Among the highlights, the company reported an increase in net revenue to $8.2 million. “Our positive first quarter 2020 results were fueled by a net revenue increase of 24% compared with the previous quarter,” VIVO CEO Barry Fishman said in the news release. “Several of our Canna Farms(TM) and Fireside(TM) cannabis 2.0 products are showing strong momentum, and the VIVO team continued to execute well on plans related to our four strategic priorities, despite COVID-19 related challenges. In April, we started planting in our airhouses in Napanee, are awaiting Health Canada approval to begin production in our Phase 5 expansion in Hope B.C. and expect to commission our new ethanol extraction suite in Napanee in Q2 2020. During the quarter we also entered into new supply and processing agreements, which are expected to result in the launch of several exciting new products.”

To view the full press release, visit http://cnw.fm/Z61Dj

About VIVO Cannabis(TM)

VIVO Cannabis(TM) is recognized for trusted, premium cannabis products and services. It holds production and sales licenses from Health Canada and operates world-class indoor and seasonal airhouse cultivation facilities with proprietary plant-growing technology in Hope, British Columbia and Napanee, Ontario. VIVO has a collection of premium brands, each targeting different customer segments, including Canna Farms(TM), Beacon Medical(TM), Fireside(TM), Lumina(TM) and Canadian Bud Collection(TM). The Company is expanding its production capabilities and distribution network. Harvest Medicine, VIVO’s patient-centric, scalable network of medical cannabis clinics, has serviced over 100,000 patient visits. VIVO is pursuing several partnership and product development opportunities and is focusing its international efforts on Germany and Australia. The company has a healthy balance sheet and is well-positioned to accelerate its path to profitability. For more information, visit www.VIVOCannabis.com.

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

About CanadianCannabisWire

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CanadianCannabisWire.com

Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

CannabisNewsBreaks – Delta 9 Cannabis Inc. (TSX: DN) (OTCQX: VRNDF) Posts Q1 2020 Financial Results, Hosts Conference Call

Delta 9 Cannabis (TSX: DN) (OTCQX: VRNDF) on Thursday reported financial and operating results for the three months ending March 31, 2020. Among other highlights from the first quarter 2020, the company reported operating revenues of $11.75 million for the period, representing an increase of 109% from $5.63 million for the same quarter of the previous year. Delta 9 CEO John Arbuthnot and CFO Jim Lawson hosted a conference call to discuss the results on May 15 at 9:00 AM ET. A replay of the call will be available until August 15, 2020. To listen to the replay, dial 1-877-674-6060 and use the password 634784#. “We were fortunate to be able to maintain continuous operations of our retail stores, wholesale and business to business (‘B2B’) business units throughout the COVID-19 crisis. This allowed Delta 9 to be one of the few cannabis companies in Canada to report positive net income and adjusted EBITDA results,” Delta 9 CEO John Arbuthnot stated in the news release. “Our company was able to generate increases in sequential quarterly revenue and strong performance in our retail and B2B segments and a general rebound in our wholesale business volumes and wholesale average selling prices.”

To view the full press release, visit http://cnw.fm/5pp6P

About Delta 9 Cannabis Inc.

Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9’s shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “VRNDF”. For more information, visit the company’s website at www.Delta9.ca.

About CanadianCannabisWire

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CanadianCannabisWire.com

Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

420 with CNW – Pre-Employment Cannabis Testing Ban Takes Effect in New York City

Last year, the New York City Council approved a ban on pre-employment drug testing for marijuana. As of May 10, the ban took effect, and it stipulates that companies in the city can’t conduct pre-employment tests for THC metabolites unless the position is safety sensitive.

The original bill included language that exempted some jobs from the prohibition on testing, such as people charged with supervising or caring for children and positions “tied to a federal or state contract or grant.” It also contains a provision that allowed the New York City Commission on Human Rights to expand the list of exempted jobs.

The commission later proposed regulations last month, leaving them open for public comment until April 27. Under the proposal, workers who use heavy machinery, spend a significant amount of time on a construction site, gas utility lines, or use a motor vehicle on a daily basis would not be exempt from pre-employment testing.

Although the exemptions haven’t been finalized yet, the commission announced that “claims arising between March 10, 2020, and the date when the rules are finalized, the Commission will not be filing enforcement actions related to the above-listed positions.” This means that if an employee files a complaint about pre-employment drug testing for the aforementioned positions, the Commission will not take action.

The move has been widely praised by advocates as a proper step in protecting cannabis consumers from unfair discrimination. However, some advocates have taken issue with the list of exemptions, and argue that they are too broad.

Marijuana Policy Project (MPP), for instance, has said that the “MPP understands the City Council decided to exclude safety-sensitive positions. However, MPP believes the proposed rule goes beyond what is required by the Bill.”

“We are particularly concerned by the inclusion of a limitation for anyone who drives daily, which could impact a large number of working-class New York City residents. Science has proven that cannabis can stay in one’s system up to a month later. This means a positive test for marijuana does not prove one is impaired at work,” said DeVaughn Ward, senior legislative counsel at MPP in written testimony to the Commission.

However, according to some, employers should ultimately be able to decide whether they want a drug free work environment or not.

“Restricting an employer’s right to test for THC is the first step to prohibiting employers from all substance testing that puts accident injury and fatal liability directly upon them,” said the National Drug and Alcohol Screening Association (NDASA).

“Without exempting all employers or offering the ability to opt-in or out of Local Law 91 then a burden will be put on the shoulders of the employers to provide safe work environments by forcing them to accept applicants that are using a known impairing substance.”

Experts say the cannabis industry, including companies like SinglePoint Inc. (OTCQB: SING), would like to see more jurisdictions ban pre-employment THC tests because those tests force consumers to choose between their jobs and using a substance that they need (especially medical marijuana users).

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Amendment Paves Way for More Medical Cannabis Business Licenses to Be Issued in Missouri

The Missouri House has voted in favor of an amendment that would lift the cap on the state’s medical marijuana licenses. This would allow essentially any business owner who meets minimum state requirements to secure a license. If the state Senate passes the amendment, it would open up Missouri’s market to more cultivators, manufacturers, and dispensaries.

“We have a great opportunity in Missouri to create thousands of jobs like Colorado, California, Oregon, Washington, Alaska, and Florida. Embrace the farmer, embrace the opportunity. Give Americans the right to succeed or fail,” says KC Clark, a local cannabis advocate and CEO of Cannabis Startup Incubator.

The amendment is in reaction to a flurry of appeals, and lawsuits from rejected applicants who argue the state’s blind scoring system is flawed. The state awards a 30% scoring bonus to businesses in ZIP codes with an employment rate of 85 to 89.9% and a 40% scoring bonus to ZIP codes with an employment rate of 0 to 84.9%.

They claim that deterministic economic impact solely by ZIP code is inaccurate and that the ZIP code data, which was gathered from the U.S. Census Bureau from 2013 to 2017, is out of date. On top of that, they say that by the time they realized the state would award more points to low-income areas, they had already made plans and secured leases.

Rep. Ben Baker, the sponsor of the amendment, says that although he did not vote to legalize marijuana, he doesn’t support government monopolies. “It’s very clear it hasn’t been a fair process, it hasn’t been transparent, and definitely not a competitive process.” He introduced the amendment after listening to hearings conducted by a Missouri House Special Committee.

It was investigating complaints of large, out of state businesses being awarded most of the licenses, conflicts of interests, and changes to state criteria as the marijuana program was mid rollout. Baker argues that lifting the cap would be a great way for the state to generate more revenue during the post-coronavirus economic slump.

“If we lift the caps, then we can see a robust and rapid recovery for at least one sector of our industry: farming, agriculture, home grow and holistic medicine, local stores, and shops,” says Cannabis Startup Incubator CEO KC Clark.

“It’ll be better in a lot of ways. It drives costs down and it helps to suppress the black market. And especially in a time when people are scrambling for jobs. It’s a job creator,” says amendment sponsor Baker.

Industry watchers believe the entire industry, including Round Meadow Holdings Corp. and Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF), is hoping that the amendment is passed so that a lot more people have a chance to get a business license.

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

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

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Cannabis Global, Inc. (MCTC) Enters LOI with Whisper Weed, Expands Into Burgeoning California Cannabis Delivery Space

Cannabis Global (OTC: MCTC), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, today announced its entry into a Letter of Intent (“LOI”) with Los Angeles-based Whisper Weed Delivery, a leading California cannabis delivery services provider. In accordance with the LOI, Cannabis Global will provide management services in exchange for fees equivalent to 51% of the profits derived from Whisper Weed’s cannabis delivery services throughout the entire greater Los Angeles regional marketplace. “We continue to verticalize operations from an IP-driven base, stacking a core technology and R&D edge under growing manufacturing operations, and now we have added an essential piece of that puzzle: an established leadership position in cannabis home delivery in the largest municipal cannabis market in the world,” Cannabis Global CEO Arman Tabatabaei stated in the news release. “Whisper Weed is cash-flow positive, profitable, and growing rapidly in terms of volume and end-market footprint. Our aggressive growth strategy continues to move forward ahead of schedule. And this expansion into the rapidly growing California cannabis delivery space is an integral part of that plan.”

To view the full press release, visit http://cnw.fm/gg96L

About Cannabis Global, Inc.

Cannabis Global, Inc. (MCTC) is a Nevada registered, fully reporting and audited publicly-traded company. With the hemp and cannabis industries moving very quickly and with a growing number of market entrants, Cannabis Global plans to concentrate its efforts on the middle portions of the hemp and cannabis value chain. The company plans to actively pursue R&D programs and productization for exotic cannabinoid isolation, bioenhancement of cannabinoids and polymeric solid nanoparticles and nanofibers for addition into consumer products and for dermal application. The company was reorganized during June of 2019 and announced its intent to enter the fast-growing cannabis sector. The company is headed and managed by a group of highly experienced cannabis industry pioneers and entrepreneurs. 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.

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

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Schedules Release of Q1 2020 Financial Results, Conference Call

The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, today announced that it will be releasing its first quarter 2020 financial results after market close on Tuesday, May 26, 2020. The company will also hold a conference call with analysts at 9:00 AM ET on Wednesday, May 27, 2020. In response to the 2019 novel coronavirus outbreak, the Canadian Securities Administrators have made available blanket relief under OSC Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements which grants a 45-day extension for certain periodic securities filings. TGODF intends to utilize the blanket relief to file its Q1 2020 unaudited interim condensed financial statements and its related Management’s Discussion and Analysis (“MD&A”) filings on SEDAR.

To view the full press release, visit http://cnw.fm/0TxJq

About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings is a premium certified organic cannabis company focused on the health and wellness market. Its certified‐organic cannabis is grown in living soil, as nature intended. The company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next‐generation cannabis products such as organic teas, infusers and vapes. Through its European subsidiary, HemPoland, the company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale. TGOD’s common shares and warrants issued under the indentures dated November 1, 2017 and December 19, 2019 trade on the TSX under the symbol “TGOD”, “TGOD.WT” and “TGOD.WS”, respectively, and TGODF trades in the US on the OTCQX. For more information, visit the company’s website at www.tgod.ca.

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

About CanadianCannabisWire

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CanadianCannabisWire.com

Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

420 with CNW – Florida Supreme Court Hears Pivotal Medical Cannabis Case

For the past few years, the medical marijuana industry in Florida has been held back by legislation that puts an immense amount of pressure on sellers. State legislation requires that the medical marijuana industry be vertically integrated. Facilities that sell marijuana on a retail level must also cultivate, process, and transport the product.

There have been plenty of complaints about the state’s vertically integrated system. It caps licenses and essentially requires anyone who wants to opt in to be a one-man army, and critics say most players aren’t skilled enough to handle everything from growing, processing to selling.

In 2016, 71% of Florida residents voted to legalize marijuana on a constitutional amendment. It defined medical marijuana treatment centers as ‘an entity that acquires, cultivates, possesses or transfers, transports, sells, distributes, dispenses or administers marijuana, products containing marijuana, related supplies, or educational materials’ to qualifying patients or their caregivers and is registered by the Department of Health.’

However, a bill signed into law in 2017 by then-Governor Scott says that a ‘licensed medical marijuana treatment center shall cultivate, process, transport and dispense marijuana for medical use,’ thus creating a vertically integrated system. Opponents have said the law doesn’t align with the constitutional amendment, with Florida Governor Ron Desantis likening vertical integration to a cartel.

It prevents small companies from entering the industry by creating a high monetary barrier and it makes specialization of one specific aspect like growing or processing almost impossible.

The issue came to a head when a Tampa-based company was denied a medical marijuana license since it did not have a vertically integrated system of growing, processing and selling marijuana and sued the Department of Health. Florigrown says the vertical integration system is unconstitutional and goes against the constitutional amendment that legalized marijuana and gave licensed companies permission to sell.

According to Florigrown, the amendment was intended to create an open industry where people can specialize in different aspects of the supply chain. By using the word ‘or’ the amendment wasn’t arguing for a vertically integrated system but a ‘horizontal’ structure where firms can perform different aspects of the business.

Joe Jacquot, Governor Ron DeSantis’ general counsel represented the Department of Health. He argues that the 2017 law does not conflict with a “proper, textual interpretation” of the constitutional amendment.

“Nothing in the amendment prescribes a horizontal marker model, nor does the amendment elbow out the legislature’s vertical integration,” he told court justices.

Florigrown’s lawyer Katherine Giddings, on the other hand, argues that the Legislature’ cannot “under the guise of public policy come in and change the plain text of the Constitution.”

“There’s something wrong with a system that keeps competition out, products scarce and prices outrageously high, that is harming Florida’s critically and terminally ill patients from getting medical marijuana at reasonable prices. And it is totally contrary to fair market principles.” This case is before the state Supreme Court and analysts say the entire cannabis industry, including Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496), will be watching how the highest court will rule on this dispute that may shake the cannabis program to its core.

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – New Impediment to Maine’s Anticipated Marijuana Sales Emerges

Maine’s burgeoning marijuana industry has been stuck in developmental hell for the past few years. Despite Maine voters approving a ballot initiative to legalize marijuana in November 2016, there are still no retailers in the state. Since then, the journey to legal marijuana sales has been fraught with a number of legislative and regulatory changes, and in one case, a gubernatorial veto.

The state released rules for adult-use cannabis businesses in June 2019 and began accepting applications for recreational retailers in December. The first conditional licenses were issued in March with the hopes of launching retail sales by spring. However, with the coronavirus pandemic raging across the country, those plans have been put on hold.

According to Erik Gundersen, director of the Maine Office of Marijuana Policy, the state is waiting for approval from local city and town governments, but the current situation has slowed this process to a crawl.

“With the local authorization piece, the second stop in the licensing process, towns and cities across the state are really closed. Even though 87 conditional licenses are out there, the local authorization forms aren’t coming back at a volume where we can actually start a program,” he says.

What’s more, for retailers to set up shop, the host community has to opt-in and enact ordinances, creating another stop before sales can truly begin. Although more than 40 have opted in and enacted ordinances already, Gundersen says that he wants to be sure that there will be enough stores to meet the demand.

However, Maine’s largest city, Portland, has not approved an ordinance yet. On top of that, the city is proposing to put a cap on the total number of retail establishments at 20 and to use a points system to determine which firms will get retail licenses.

According to Keri-Jon Wilson, co-owner of Pot and Pan in Portland, she is disappointed that there can’t be a free market. Her company manufactures medical cannabis edibles and it is seeking an adult-use retail license and a manufacturing license.

“I think we all knew that it was going to be difficult in Portland, as we’ve watched the landscape change. Obviously, you know, it’s a little disappointing this can’t be a free market,” she says. It’s good that the city is being selective, but such measures are hard on potential applicants who have made a lot of investment but have no idea whether they will get a license, she concludes.

David Boyer, a consultant who ran the successful adult-use marijuana campaigns in Portland and statewide says there have been talks of collecting signatures to get the issue of eliminating the cap on the November ballot.

“Were confident that it’ll be easy to pass. It’s easy to explain to the voter that, you know, we just want a fair market and not a capped market.”

Experts say industry players like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) could be wondering when the nearly endless impediments to the cannabis industry in Maine will ever end and the sector takes off like in other places where legalization laws have been passed.

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

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

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Cannabis Strategic Ventures, Inc. (NUGS) Announces Expanded Inventory to Meet Surging Demand

Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. cannabis marketplace, today announced that it will have new expanded inventory ready for sales and shipment next week. According to the update, this follows a sharp surge in sales in early May that left the company “sold out” every week for the past month for the first time in its history. The company recently expanded total production capacity by up to 150%, and the capacity expansion will contribute to inventory going forward as the company translates surging demand into accelerating sales growth. “We have never seen anything like this,” Cannabis Strategic Ventures CEO Simon Yu said in the news release. “We booked $100,000 in one day to clear out all of our remaining inventory. We anticipated this dynamic but still underestimated the force of the trend. Too much demand is always the problem you want to have. And we are confident we will be able to translate this into further upside in terms of our top line growth curve.”

To view the full press release, visit http://cnw.fm/2qNZZ

About Cannabis Strategic Ventures

Cannabis Strategic Ventures, Inc. (OTC: NUGS) is one of the largest publicly traded marijuana cultivators in the United States. The company is Los Angeles-based that incubates, develops and partners with category leaders within the cannabis and ancillary sectors. The firm’s NUGS brand experience provides operational and financial strategic partnerships and a range of essential services to emerging and existing cannabis consumer brands. For more information, visit www.CannabisStrategic.com.

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

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

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.