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 – Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496) Collaborates with TheraPsil to Help Patients in Palliative Care Access New Therapies

Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496), a human optimization sciences Company with an emphasis on ketamine and psychedelic medicine, today announced its sponsorship of TheraPsil, a BC-based non-profit coalition of healthcare professionals, policy-makers and community leaders (the “TheraPsil Coalition”) seeking legal access to psilocybin for British Columbians with a palliative diagnosis and psychological distress. According to the update, TheraPsil is focused on: establishing safe, and legal access to psychedelic-assisted therapy for those in medical need, efforts to increase awareness and developing safe and effective protocols for psilocybin-assisted therapy through public education and educational training, as well facilitating research and evaluation in collaboration with Canadian and international partners. “Through our sponsorship, the Champignon team and board are extremely proud to begin collaborating alongside TheraPsil, helping patients in palliative care access new and effective therapies,” Champignon Director Pat McCutcheon said in the news release. “Together we will work to provide countless Canadians facing a palliative cancer diagnosis, along with their families, who also face severe psychological distress, with the treatment options, compassion and hope they deserve.”

To view the full press release, visit http://cnw.fm/Mg01j

About Champignon Brands Inc.

Champignon Brands (CSE: SHRM) is focused on the formulation and manufacturing of novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutraceutical and psychedelic medicine while being supported by a leading psychedelics medicines clinic platform. The Company is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (“PTSD”), as well as substance and alcohol use disorders. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, the Company is conducting preclinical studies and eventual human clinical trials, with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. Champignon continues to be inspired by sustainability, as its medicinal mushroom-infused SKUs are organic, non-GMO and vegan certified. For more information, visit the Company’s website at www.ChampignonBrands.com.

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

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 – New Congressional Coronavirus Relief Bill Contains Marijuana Banking Access

The state-legal cannabis industry has been subject to tons of hurdles ever since marijuana was first legalized. Due to federal prohibition, institutions like banks have avoided the industry, denying them access to vital services like cashless payments. Once the coronavirus pandemic hit and the dangers of cash transactions were exposed, change had to be affected.

Now, House leadership has unveiled a coronavirus relief bill that includes provisions to protect banks that service marijuana businesses from federal retaliation. This had long been a bone of contention for advocates, stakeholders, and lawmakers even before the pandemic, and they have been pushing for cannabis reform to be included in the next coronavirus relief bill.

The Secure and Fair Enforcement (SAFE) Banking Act was passed last year, and it contained language that protected banks that serviced marijuana businesses from being penalized by the federal government. That language was incorporated in this recent draft coronavirus relief bill, granting the cannabis sector a much-needed lifeline in these trying times.

“The purpose of this section is to increase public safety by ensuring access to financial services to cannabis-related legitimate businesses and service providers and reducing the amount of cash at such businesses,” states the text of the provision.

According to a summary of the legislation, the banking section would “allow cannabis businesses, which in many states have remained open during the COVID-19 pandemic as essential services along with their service providers, to access banking services and products, as well as insurance.”

“This section,” it continues, “also requires reports to Congress in access to financial services and barriers to marketplace entry for potential minority-owned cannabis-related legitimate businesses.”

Advocates have also been asking lawmakers to include provisions in the next coronavirus relief bill that grant cannabis businesses access to relief funds through the Small Business Administration (SBA).  Cannabis businesses and those that work indirectly with them such as accounting and legal firms are currently barred from accessing these funds due to federal prohibition.

Despite pleas from numerous advocates, stakeholders, and lawmakers, such provisions were not included. However, it does contain a section that could help individuals with prior convictions to become eligible for SBA’s Paycheck Protection Program (PPP).

It states that the agency’s lending service “shall include a statement that an applicant is not ineligible for assistance under this paragraph solely because of the applicant’s involvement in the criminal justice system.”

Rep Ed Blumenauer, who introduced a bill calling for SBA access to cannabis businesses, says that the inclusion of the SAFE Banking Act is recognition that cannabis businesses have been classified as essential. “Prohibiting these businesses from banking and forcing cash-only transactions in the middle of a global health crisis is irresponsible and wrong. The passage of the bipartisan SAFE Banking Act, is good not only for the industry but our communities and public safety as well.”

Analysts say sector players like Sugarmade Inc. (OTCQB: SGMD) will be hoping that this time round, the legislators see the logic making it possible for cashless transactions in the marijuana industry during this pandemic and beyond.

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 – Arkansas Medical Cannabis Sales Exceed $75 Million

Despite being illegal under federal law, cannabis has been legal in a number of states for a while now. Advocates for legal cannabis can talk about the benefits of legalization for days, but one of the main benefits has always been the potential for tax revenue. Like alcohol, the demand for cannabis is almost constant, and states that have legalized it have the potential of earning millions in sales revenue.

Arkansas’s first dispensary opened in May last year, and nearly $75 million and 12,000 pounds worth of medical marijuana has been sold since, according to the Arkansas Department of Finance and Administration. What’s noteworthy is that nearly half of the sales have been in the last two and a half months.

Roughly 40% of overall sales have occurred since March 1, 2020, with marijuana dispensaries selling $29.92 million since the coronavirus crisis began in March. “To put this in perspective, it‘s been one year since the first dispensary opened in May 2019 and 40% of the total sales for the year have taken place since March 1,” says Scott Hardin, Director of Communication at the Arkansas Department of Finance and Administration.

“We anticipate that the significant increase in sales over the last two months is directly related to COVID-19. When the CDC recommended citizens maintain at least a two week supply of prescription medication, it looks like medical marijuana patients in Arkansas took action on that guidance beginning in mid-March.

There was initially an assumption it may be a one-time spike but that has not been the case. Sales have remained extremely strong since that time,” says Hardin.

Dispensaries are also reporting that more patients are consistently making the maximum purchase, 2.5 ounces every 14 days. “Considering the price averages just below $400 an ounce, the maximum purchase may be more than $1,000 every two weeks.”

The state is home to 22 medical marijuana dispensaries, and another 11 are set to open over the next several months. According to Hardin, projections are for sales to exceed $100 million.

Aaron Crawley, owner, and CFO of The Source, a Bentonville-based dispensary, says the spike in sales is definitely related to the coronavirus outbreak. His dispensary was first opened on August 15 and has sold 977.73 pounds of medical marijuana. Due to current circumstances, the dispensary has rolled out a couple of health measures.

“Due to high demand and adherence to social distancing requirements, we’ve switched exclusively to online ordering and a maximum of three individuals in the lobby at a time. To accommodate high volumes of guests safely we have them check in with their names and wait in their cars until their order is ready. Even so, the majority of our guests are simply grateful that we’re open.”

Industry watchers say this strong trend of cannabis sales is good news to other players in the sector like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) who believe the industry can be the key to reducing the adverse effects of the economic downturn during and after the coronavirus pandemic.

About CNW420

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

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

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) CEO Outlines Critical Company Objectives

Plus Products (CSE: PLUS) (OTCQX: PLPRF) co-founder and CEO Jake Heimark recently outlined three critical objectives the company will be focusing on throughout the coming year (http://cnw.fm/QVv51). A recent article discussing the letter reads, “‘We have set three critical objectives as a company over the next four quarters,’ he stated. ‘1) to ensure the safety and health of our employees and customers, 2) to continue to establish ourselves as a clear, long-term leader in the California edibles space and 3) to become a cash-flow positive business.’ . . . Heimark then went on to explain that PLUS is ‘capitalized with enough cash on hand to continue executing through the entirety of 2020 without any additional fundraising.’ Heimark noted that ‘Plus Products was the largest brand in the largest category of the California edibles market in 2019, and had the two best-selling cannabis products, across all categories, in the state over that same period.’”

To view the full article, visit http://cnw.fm/AvP0J

About Plus Products

PLUS is a cannabis and hemp food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable, beginning with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, California. 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 – 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.

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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.

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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.

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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)

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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.

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

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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.

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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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