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 – Lebanon Legalizes Medical Cannabis Amid Coronavirus Economic Hardships

One of the most compelling reasons for the legalization of marijuana has been to earn tax revenue from sales. Arguably the most used drug, it is subject to constant demand, and governments can tap into this wealth of resources. States such as Colorado with thriving marijuana programs have pulled in close to $1 billion from legal marijuana sales.

And with the coronavirus sweeping through the world and wreaking havoc on the global economy, some experts have said legalizing marijuana could be a good way to kickstart the economy. Lebanon, it seems, has taken this advice to heart. This week, the Lebanese government passed legislation to legalize cannabis cultivation for medical and industrial reasons.

The country’s economy had been struggling even before the coronavirus outbreak, and the crisis only exacerbated an already dire situation. According to lawmakers who supported the bill, their decision was “driven by economic motives, nothing else.”

“We have moral and social reservations, but today there is the need to help the economy by any means,” said Alain Aoun, a senior MP in the Free Patriotic Movement.

Despite being illegal before the legislation was passed, cannabis was being grown openly in the fertile and impoverished Bekaa Valley. The United Nations states that the country is the world’s third-largest supplier of cannabis resin, or hashish, after Morocco and Afghanistan. With the new legislation in place, the country will now proceed with regulating the already existing cultivation efforts and halt all unlawful production.

Recreational use will remain illegal, however. The new legislation will enable Lebanon to build a multi-million dollar legal cannabis industry that produces pharmaceutical items such as CBD oil, wellness products as well as industrial products like fibers for textiles.

In 2018, the Lebanese government hired New York-based global consulting company McKinsey & Co to advise the country on how to address its spiraling economy. McKinsey suggested legalizing marijuana, estimating that a legal cannabis sector could generate as much as $1 billion annually.

Legalization activists have raised some concerns about the measure, stating that they feel it doesn’t go far enough. Recreational cannabis use should also be decriminalized, they say.

The move to legalize marijuana has been met with opposition from Lebanese party Hezbollah. According to Hilal Khashan, a professor of political studies and public administration at the American University of Beirut, legalizing cannabis would not be nearly enough to address the country’s economic concerns. He adds that the government may be unable to successfully implement the law, given Hezbollah’s opposition.

“Hezbollah is a primary beneficiary of cannabis trafficking. The only way for Hezbollah to accept the ratification of the law is to be directly involved in its implementation, that is, get its share from it,” he says.

Experts believe that despite the opposition from some sections of the political class, North American cannabis sector actors like Sugarmade Inc. (OTCQB: SGMD) may be pleased that the Lebanese people will soon have the option of using medical marijuana to address their health and wellness needs.

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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CBDNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Launches New CBDRelief Brand Targeting Underserved Market Sector

Plus Products (CSE: PLUS) (OTCQX: PLPRF), a California-based cannabis-products company, recently launched its PLUS CBDRelief brand. The new line of products is comprised of two high-CBD, low-THC gummies designed to address pain, stress and anxiety (http://cnw.fm/KL07j). An article discussing the company reads, “The product line currently includes two products: PLUS CBDRelief 9:1 Tropical Mango with 9 mg of CBD and 1 mg of THC per serving and PLUS CBDRelief 18:1 Tart Cherry with 18 mg of CBD and 1 mg of THC per serving. The PLUS CBDRelief cannabis-infused gummies are expected to be available statewide in coming weeks. . . . ‘We have seen compelling success with our core brand and are excited to take the next step towards becoming a true portfolio of brands with the launch of PLUS CBDRelief,’ PLUS co-founder and CEO Jake Heimark stated in a news release. ‘Last year we partnered with market structure research firm HJR Associates and found that when consumers used cannabis, over one-third of the time it was to address pain, stress or anxiety. This represents a massive market that appears, thus far, to have been underserved. We believe there are almost no edibles products in California designed to meet the needs of these consumers, and we’re excited to introduce products formulated specifically for that purpose.’”

To view the full article, visit http://cnw.fm/5Kf5D

About Plus Products Inc.

PLUS is a hemp and cannabis 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/PLPRF

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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CannabisNewsBreaks – SinglePoint, Inc. (SING) CEO Discusses Finding Opportunity in Chaotic Times on MoneyTV with Donald Baillargeon

SinglePoint (OTCQB: SING) was featured on this week’s episode of MoneyTV with Donald Baillargeon. The internationally syndicated program covers money-focused topics, featuring various companies and in-depth interviews with CEOs and executives that offer insights into operations and future outlooks. MoneyTV is viewed in over 200 million households in more than 75 countries. Among other highlights from this week’s program, SinglePoint CEO Greg Lambrecht discussed finding opportunity in chaotic times. Discussing the impacts of covid-19, Lambrecht stated, “It forced the company to go virtual. We’ve had our phone operators set up meetings on GoToMeeting and, because of that, we’ve expanded from 13 states to 30 states in just the last two weeks. We’re starting to close deals, virtually, right over the internet.”

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

About SinglePoint, Inc.

Founded in 2011 SinglePoint, Inc (OTCQB: SING) invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company portfolio currently includes solar, hemp and technology applications. SinglePoint is working to grow the company to a multinational brand. For more information, visit the company’s website at www.SinglePoint.com.

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

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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420 with CNW – Zoom Inadequate for the Complexities of Marijuana Legalization, Says Gov. Cuomo

Legalizing marijuana this year had been one of New York Governor Andrew Cuomo’s top priorities. For the second year in a row, he had included marijuana legalization in his budget proposal to state lawmakers. However, the coronavirus pandemic came along, and as New York quickly became the epicenter of America’s outbreak, legislative priorities shifted.

In the wake of the crisis, Governor Cuomo stated that it was unlikely state lawmakers would be able to effectively tackle the legalization issue in time. New York isn’t the only state to experience this. Most drug legalization campaigns have been put on hold as people practice self-isolation and social distancing.

Some campaigners have argued that there are other means that could be used to continue with the legalization process. According to Cuomo, lawmakers could theoretically use meeting software like Zoom to pass the marijuana legalization legislation. However, he says that due to the complex nature of the issue, he wouldn’t necessarily recommend it.

When asked about the prospects of legalizing cannabis after the legislature failed to do so in the state budget, he said that it’s ‘totally up to them.’ His opinion, though, is that marijuana legalization could prove too complicated to tackle remotely.

“In terms of passing legislation remotely, they can do that. That’s up to them. As far as getting into a very complex issue that requires real analysis and real data and trying to do that on Zoom, I don’t know that that’s the best way to do it, but that’s up to them also,” he says.

He notes that despite not being able to convene at the Capitol, legislators have been hard at work. “From a taxpayer’s point of view, if they think their assemblyperson or senator isn’t working because they’re not here, they have to think again. They’re working. They’re working probably harder than they normally work.”

Last month, lawmakers rolled out a revised bill to legalize marijuana as the prospects of legalization through the budget became slimmer. It would have allowed individuals 21 and older to purchase marijuana from licensed retailers and cultivate up to six plants for personal use.

“In an ideal world for advocates, language from the revised bill would be inserted into the budget before it arrives at Cuomo’s desk. But that prospect seems dimmed in light of the current crisis, which has shifted legislative priorities,” said New York Deputy State Director of the Drug Policy Alliance.

Experts think marijuana companies like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) may be wondering when cannabis legalization will ever become a reality for the people of New York State.

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420 with CNW – Marijuana Arrests Among Blacks in Illinois Seven Times Higher Than Whites, Research Finds

One of the most prominent arguments against the war on drugs, and marijuana specifically, has been the impact it has had on specific communities. And most states that eventually legalized marijuana have been using some of the tax revenue earned from cannabis sales to help remedy this. However, a new study by the American Civil Liberties Union (ACLU), which examined nationwide marijuana arrests between 2010 and 2018, shows just how badly some communities, like African Americans, were disproportionately affected.

According to the study, although marijuana arrests have declined after Illinois decriminalized possession of small amounts of marijuana in 2016, prior disparities in arrests still remain. Researchers found that African Americans were ten times more likely to be arrested than white folks. The imbalance was even more pronounced in DuPage, Cook, Kane, Lake, and McHenry counties.

And this isn’t just a state problem. There is a similar nationwide disparity in arrests, with the study finding that African Americans are 4 times more likely to be arrested. However, Illinois is among the top states that exhibit such a disparity, with Montana and Kentucky showing higher rates of disparity in marijuana arrests.

“Black people are 3.64 times more likely than white people to be arrested for marijuana possession, notwithstanding comparable usage rates. In every single state, black people were more likely to be arrested for marijuana possession, and in some states, black people were up to six, eight, or almost ten times more likely to be arrested,” the study concluded.

“In 31 states, racial disparities were actually larger in 2018 than they were in 2010,” the researchers add.

The study mirrored a 2013 study by the ACLU that came up with similar results. The study concluded that “Such racial disparities in marijuana possession arrests exist in all regions of the country, in counties large and small, urban, rural, wealthy and poor, and with large and small black communities. Indeed, in over 96% of counties with more than 30,000 people in which at least 2% are black, they are arrested at higher rates than whites for marijuana possession.”

As Ben Ruddell, criminal justice policy director of ACLU of Illinois says, “the legacy of rank bias in how we enforced cannabis in Illinois is clear. We should redouble our efforts to ensure that this sort of racially disproportionate policing does not continue under the new state law, especially in those parts of the state where the track record is so abysmal.”

It is widely believed that such research findings give cannabis industry players like Round Meadow Holdings Corp. and Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) added impetus to continue advocacy efforts aimed at ensuring that the enforcement of existing laws isn’t tilted against some communities.

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HempNewsBreaks – SinglePoint, Inc. (SING) Enters S-1 Registration Agreement to Raise up to $7M to Expand into New Markets

SinglePoint (OTCQB: SING) today announced the completion of an S-1 registration agreement to raise up to $7,000,000 with certain limitations on the amount of each sale, once the registration has been deemed effective. According to the update, the Equity Agreement, on a look-back basis and with no make-up provisions, is a true non-toxic equity investment. “This has been a long time in the making and filing an S-1 with a leading financial firm represents achieving another significant milestone for SinglePoint. Filling the Form-10, becoming a fully reporting issuer, and uplisting to the OTCQB were all integral and essential steps that enabled us to access capital with a partner like GHS Investments at an attractive rate through this S-1 registration and equity agreement,” SinglePoint CEO and Chairman Greg Lambrecht said in the news release. “This is a major step for SinglePoint and our shareholders as we now have access to lower cost financing which ultimately lessens dilution to the market. We see this financing as a potential catalyst for SinglePoint to bolster and accelerate expansion into new markets. Our recent acquisition, Direct Solar America, and our proprietary consumer product 1606 Hemp are both gaining traction and revenue growth and access to capital will only enhance the market opportunities for both.”

To view the full press release, visit http://cnw.fm/JI4np

About SinglePoint, Inc.

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

About HempWireNews

HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.

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CannabisNewsBreaks – Cannabis Strategic Ventures, Inc. (NUGS) Announces Sharp Expansion in Production Capacity at the Farm

Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. cannabis marketplace, today announced that it has increased the total cannabis production capacity at NUGS Farm (the “Farm”) by 88% to 150% as a result of recent management decisions and production upgrades. According to the update, the company expects to produce between 1,500 pounds and 2,000 pounds of cannabis product over the next 45-60 days, and similar amounts of product over subsequent 45-60 day periods. “We have sharply expanded our production capacity to take advantage of an extremely advantageous context,” Cannabis Strategic Ventures CEO Simon Yu said in the news release. “Pricing trends are very positive looking ahead over the spring and summer based on seasonal supply factors, demand growth is through the roof structurally and due to context-specific factors, and we are on the verge of launching our branded product line, which will significantly boost margins. Now is the time to expand output. Our team at the Farm has done a great job delivering on that objective.”

To view the full press release, visit http://cnw.fm/P09lZ

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.

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CannabisNewsBreaks – Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496) Commences Trading on the OTCQB Venture Market

Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496), a human optimization sciences company focused on applying novel and natural treatment protocols to address a broad range of disorders and deficiencies with an emphasis on psychedelic medicine, today announced that its common shares have graduated from the OTC Pink Open Market to the OTCQB Venture Market (the “OTCQB”), a U.S. trading platform operated by the OTC Markets Group. Effective immediately, Champignon Brands will commence trading on the OTCQB under the ticker symbol “SHRMF.” Champignon’s common shares will continue to trade under the ticker symbol “SHRM” on the Canadian Securities Exchange as well as under the ticker symbol “496” on the quotation board of the Frankfurt Stock Exchange.

To view the full press release, visit http://cnw.fm/i36Vq

About Champignon Brands Inc.

Champignon Brands Inc. is a research-driven company specializing in the formulation of a suite of medicinal mushrooms health products, as well as novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutritional, wellness and alternative medicine industries. Via its vertically integrated alternative medicine product range, Champignon 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 pre-clinical 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

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CannabisNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Announces Notice of Allowance for New Patent, Issuance of Stock Options Under Equity Incentive Plan

Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP), a global innovator in drug delivery platforms, today announced its receipt of a Notice of Allowance from the United States Patent and Trademark Office (“USPTO”) for a new patent. According to the update, the new patent provides additional claims that protect the use of its DehydraTECH(TM) technology together with cannabinoids, nicotine, nonsteroidal anti-inflammatory drugs, or vitamins in mix and serve beverage formats. This patent, with application number 16/497,920 under the title “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof,” signifies another addition to Lexaria’s first patent family, under which eight U.S. patents have previously been granted. As has been Lexaria’s past experience, the company expects formal granting of the new patent within roughly 100 days or less.

In addition, Lexaria also announced that it has issued: 2,538,000 stock options to certain employees, consultants, directors and officers of the company for the purchase of up to 2,538,000 of its common shares at an exercise price of US$0.32; and 700,000 stock options to an executive officer who also holds over 10% of the company’s issued share capital for the purchase of up to 700,000 of its common shares at an exercise price of US$0.34 (collectively the “options”). The options are being issued pursuant to Lexaria’s shareholder approved Equity Incentive Plan whereby the exercise price of any options issued to a person holding 10% or more of the company’s issued share capital must be equal to 110% of the fair market value of the company’s shares.

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

About Lexaria

Lexaria Bioscience Corp. is a global innovator in drug delivery platforms. Its patented DehydraTECH(TM) drug delivery technology changes the way API’s 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 can reduce drug costs for orally administered bioactive molecules including nicotine, vitamins, non-steroidal anti-inflammatory drugs (“NSAIDs”) and other molecules. Lexaria has licensed DehydraTECH to multiple companies for use in various oral application formats, including to a world-leading tobacco producer for the development of smokeless, oral-based nicotine products. Lexaria operates a federally 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.

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420 with CNW – Marijuana Lovers Take 4/20 Celebrations Online

2020 would have been a historic year for marijuana lovers. 4/20 has always been the unofficial holiday for marijuana, and if you think about it, the entire month of April would have been 4/20. However, the Coronavirus pandemic has left the world in a health and economic crisis, and most companies and marijuana shops were forced to downgrade their 4/20 plans or scrap them entirely.

However, thanks to the internet, not everything was lost. The web has already been a great help as people practice social distancing and self-isolation, and marijuana enthusiasts used it to celebrate 4/20.

“Celebrating 4/20 means smoking a lot of weed, and luckily we all are able to do it right now if we’ve got our hands on a stash. April 20 is like our Saint Patrick’s Day. Instead of going out and drinking, we smoke,” says 25-year-old cannabis influencer Koala Puffs.

As more states launch medical and recreational marijuana programs and marijuana becomes more accepted, 4/20 has been widely embraced in mainstream culture. From cannabis companies and shops to the everyday stoner, everyone who is part of cannabis culture sets the day aside for something special.

For Koala Puffs, the day is pretty eventful. The cannabis influencer has nearly 250,000 YouTube subscribers and over 700,000 Instagram followers. On D-Day, she did giveaways on Instagram and Twitter every hour, on top of doing Zoom hangouts and live streaming on Instagram.

For someone who built her fan base by interacting with other stoners, we couldn’t have expected any less. And in the spirit of social distancing, she hosted a smoke session before the digital Vimeo debut of a film dubbed 4/20. The ensemble stoner comedy about the aforementioned holiday is her feature film debut.

“The movie is not your usual stoner movie where everybody is baked the entire time, on a stone adventure. In this movie, there are different types of stoners, from the ones who smoke every day to me and my crew, who can’t get our hands on any because we’re underage,” she says.

Cannabis was lucky enough to be declared essential in most states with legal weed and has been seeing increased demand and sales during the crisis. According to Kate Miller, co-founder of Miss Grass, an online cannabis magazine and e-commerce platform, true stoners who have been consuming the plant for a long time are probably consuming it more than normal given they’re all home.

“But I also think there’s an opportunity for new consumers. In California and other states where there’s a regulated cannabis program, it’s considered an essential business during this pandemic. It’s easier for me to get weed right now than it is to get toilet paper.”

How did established sector players like Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF) (FWB: 496) tweak their 4/20 plans? Analysts can only guess for now.

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