CannabisNewsBreaks – Champignon Brands Inc. (CSE: SHRM) Inks Agreement to Acquire Novo Formulations, Broadens Alternative Medicine Portfolio

Champignon Brands (CSE: SHRM), a wellness company specializing in medicinal mushroom and mushroom-infused products, today announced the expansion of its vertically integrated, alternative medicine product portfolio with the addition of new proprietary intellectual property (“IP”). SHRM recently entered into a definitive agreement, signed March 18, 2020, to acquire Novo Formulations Ltd. (“Novoformulations”), a specialty biotechnology company focused on developing novel and innovative delivery systems for the pharmaceutical and nutraceutical industries. Per the terms of the agreement, Champignon will acquire 100% of the issued and outstanding shares of Novoformulations for a total consideration of 12.5 million common shares in the capital of the company at a deemed price of $0.2475 each. A finder’s fee is also applicable to this transaction. The Novoformulations team is comprised of skilled PhDs and technician level scientists presently working with ketamine, anaesthetics and adaptogenics, as well as various pharmaceuticals and natural molecules. Champignon aims to leverage Novoformulations’ existing product development infrastructure and licensed affiliates to pursue psilocybin and MDMA based formulations, with the goal of developing and commercializing rapid onset treatments with the potential of improving health outcomes, including depression, PTSD and substance and alcohol use disorders (“DPS”). “The existing infrastructure inherited from these recent acquisitions positions us as a leading participant throughout the entire alternative medicine lifecycle, from R&D to formulation, manufacturing and end distribution. The end result will be a turnkey solution that incorporates both standardized ingredient mixtures and pharmaceutical grade products that can now be marketed via a variety of proprietary delivery systems,” Champignon CEO Gareth Birdsall stated in the news release. “The addition of Novoformulations allows Champignon to deliver medications in a safer, more effective and more expeditious manner than our peers, from bench top in the laboratory, to preclinical and clinical trials. We are intent on the commercialization of products throughout North America, as rapidly as is safely and effectively practicable.”

To view the full press release, visit http://cnw.fm/ty8tF

About Champignon Brands Inc.

Champignon Brands Inc. (CSE: SHRM) is a Canada-based company dedicated to the distribution of artisanal medicinal mushrooms infused products. The Champignon team is mandated with enhancing the health and wellness of millions of potential consumers through the distribution of a premium, mushroom-infused product suite. Champignon continues to be inspired by sustainability, as all of its eligible 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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HempNewsBreaks – SinglePoint, Inc. (SING) Announces Launch of New Corporate Website, Provides Update on Initial Orders of Klen Hand Sanitizer

SinglePoint (OTCQB: SING) today announced the launch of its new corporate website that highlights its core business entities and includes an updated corporate video that provides an overview and outlook for 2020. In addition, SinglePoint provided an update on initial orders of its Klen Hand Sanitizer with Moisturizing Hemp Seed Oil. In the first few days, the company has received multiple pre-orders that daily continue to grow and has been contacted by distributors and accounts interested in an additional hand sanitizer line. “It is extremely beneficial that we have a manufacturing facility already making other CBD/Hemp products and it has relationships with multiple suppliers that allow for rapid development and the ability to quickly ‘go to market’ with innovative products that can meet market and consumer demand,” SinglePoint CEO Greg Lambrecht said in the news release. “The Klen product line of CBD/Hemp infused hand sanitizer has the potential to capture available shelf space in the hand sanitization category and should become a permanent addition for retailers looking to provide additional incremental differentiated consumer products.”

To view the full press release, visit http://cnw.fm/LGP7u

About SinglePoint Inc.

Founded in 2011, SinglePoint 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 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) Turns Up the Lights, Continues to Expand While Others Retrench in California Market

Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. and California cannabis marketplaces, today announced another milestone at the company’s licensed cultivation operation in northern California, NUGS Farm North. According to the update, the company continues to expand operations and has now installed 768 high-powered grow lights, which will allow for an increase in the number of plants cultivated per year and an increase in yield relative to previously allocated cultivation capacity. “We are extremely excited to reach this milestone for NUGS Farm. It takes a lot of dedication, planning, and adjustments to get to this point.  Compliance and permitting is a very complex subject in the cannabis industry,” Cannabis Strategic CEO Simon Yu said in the news release. “The addition of lights allows us to have more harvests per year and to increase the yields of those harvests. This, of course, means we will have more and higher quality products to sell into the marketplace. It is also important to point out that we continue to expand our operations, while so many other operators are curtailing. Revenues for our last reported quarter ending in December showed a sequential increase of 91 percent, while our gross margins grew and our operating expense fell.  We continue to hold strong confidence in our business and in the strength of the California marketplace, in which we continue to gain market share.”

To view the full press release, visit http://cnw.fm/gmFo0

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.

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Releases Shareholder Letter Discussing COVID-19 and Strategic Changes

Plus Products (CSE: PLUS) (OTCQX: PLPRF), a leading branded cannabis products company based in California, today released a letter from its Co-founder and CEO, Jake Heimark, discussing the COVID-19 pandemic and recent company developments. “We do not know how COVID-19 will affect our business, but we believe that we are well prepared to respond to this crisis. For our company’s full response and real-time updates on the actions we are taking to respond to this crisis, please visit PlusProductsInc.com/coronavirus,” Heimark stated in the letter. “PLUS continues to have a strong foundation as a leader in the California cannabis market. We have set three critical objectives as a Company over the next four quarters: 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.”

To view the full press release, visit http://cnw.fm/v1xDs

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/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 – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Commences COVID-19 Drug Delivery Program

Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP), a global innovator in drug delivery platforms, this morning announced the initiation of a program, in collaboration with leading laboratories in Canada and the USA, to analyze the benefits of Lexaria’s DehydraTECH(TM) drug delivery platform for improving delivery and effectiveness of certain antiretroviral drugs in the fight against coronavirus disease COVID-19. Researchers around the world are currently examining several antiretroviral drugs, many of which are fat soluble, as possible candidates to combat COVID-19. When administered in oral form, fat soluble drugs are known to present considerable bioavailability challenges in effectively reaching the human bloodstream. Lexaria is an established leader in oral delivery of fat-soluble drugs. Lexaria plans to conduct a pilot human pharmacokinetic exploratory study in healthy volunteers of three antiretroviral drugs that have previously been studied against other coronavirus strains, assessing DehydraTECH formulations against controls without the technology. The company intends to conduct the study at a leading Canadian University where a study design and plan has already been submitted for ethics board approval. The company has held discussions with some laboratories that could potentially expand the number of prospective drugs using DehydraTECH under evaluation for coronavirus applications. Following positive conclusions from its planned research activities, Lexaria will aggressively engage with prospective strategic partners to enhance drug development where applicable.

To view the full press release, visit http://cnw.fm/xYe8u

About Lexaria

Lexaria Bioscience Corp. is a global innovator in drug delivery technology. Its patented DehydraTECH(TM) drug delivery technology changes the way active pharmaceutical ingredients enter the bloodstream, promoting healthier ingestion methods, lower overall dosing and higher effectiveness for lipophilic active molecules. DehydraTECH increases bio-absorption; reduces time of onset; and masks unwanted tastes for orally administered bioactive molecules including 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 licensed in-house research laboratory and holds a robust intellectual property portfolio with 16 patents granted and over 60 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

About CanadianCannabisWire

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

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420 with CNW – Cannabis Sales Surge as Customers Fear Coronavirus Restrictions

The novel Coronavirus virus first appeared in Wuhan, China and in the months since it has infected over 170,000 people and left at least 7,000 dead. Naturally, countries are taking precautions, locking down cities, and restricting travel and public meetings to curb the spread of the virus. In the U.S., states and cities are slowly shutting down, with President Trump urging people to limit themselves to groups of no more than 10 people.

As people prepare for a long period of isolation, marijuana stores have experienced a dramatic surge in sales, especially over the past weekend. Seeing as most retail outlets expect food stores and pharmacies may be shutting down in the future, and already have in some European nations, people are stocking up.

New England Treatment Access is one of the few licensed cannabis stores in Boston, and the dispensary has had to eliminate all walk-in orders due to an influx of customers. An announcement on the store’s website states that ‘in light of the current environment, we will remain open but will move to Reserve Ahead only starting on Saturday.’

Employees at Brookline Store wear latex gloves, with bottles of hand sanitizer and disinfectant spray beside each checkout station.

Higher Leaf stores in Kirkland and Bellevue, WA have also adopted a similar pre-order system to avoid overcrowding at their locations. “We will also be limiting the number of customers in the store so as to maintain a safe distance between people.

According to statewide delivery service Ganja Goddess Delivers, month by month sales traffic spiked by 20% first then by 50%. Stores and delivery services in California have reported 4/20 and Black Friday style sales volumes as people bulk up for an indeterminate isolation period.

After crunching the numbers, the cannabis data experts at Headset found that adult-use cannabis sales in Washington were up 23% on Friday, 14% on Saturday and 33% on Sunday.

In Green Cross, an adult-use cannabis store in San Francisco, many shoppers have been buying up to the legal limit (one ounce). Harborside, a store in Oakland has asked customers to order ahead online and has encouraged them to use its delivery services.

Here are a few tips for shopping during these trying times. Wear protective equipment when in enclosed spaces like stores, visit the store early to reduce exposure to others, keep six to nine feet from others and use licensed delivery if possible.

Experts say that this surge in sales could boost the bottom line of many companies that had low demand for their products. Industry players like MCTC Holdings Inc. (OTC: MCTC) may be hoping that the crisis doesn’t lead to a total shutdown since it would be a huge blow not just to the cannabis industry but the national economy as well.

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 – Congressional Committee Passes Bills Expanding Veterans Access to Medical Cannabis

For the past few years, attitudes towards cannabis have been shifting. Although it is still illegal at the federal level, the narrative isn’t as dire as it used to be. We now know that the cannabis plant produces a group of chemicals called cannabinoids that have potent and diverse medical properties. We also know that taken consistently and at a reasonable dosage, cannabis can alleviate a ton of conditions, ranging from insomnia and anxiety to chronic pain.

However, the road hasn’t been easy. A number of states have legalized medical and recreational marijuana use, but the fact that it’s illegal at the federal level doesn’t help matters. Medical marijuana has still come a long way, though, and it might go even further thanks to a pair of key bills that were recently approved by a Congressional committee.

The bills expand veterans’ access to medical marijuana. One would allow Veteran Affairs (VA) doctors to issue medical marijuana prescriptions in states with legal programs. They currently aren’t allowed to do so. The other bill would direct the VA to conduct a clinical trial to test the efficacy of marijuana in treating post-traumatic stress disorder (PTSD), chronic pain and other health issues veterans are likely to get.

“We have been working for years to give veterans the opportunity to receive legal medical cannabis treatment for chronic pain and PTSD. Even though this has been approved on the floor of the House in the past as an amendment to appropriations bills, it has been stonewalled by the Senate Republican leadership. This is the way forward to guarantee it becomes the law of the land,” says Rep. Earl Blumenauer, who introduced the first bill.

Currently, veterans can only access medical marijuana if they choose to go outside their VA network and cover all the costs out of pocket. The VA department accepts this arrangement as stated on its website. Its leadership has also stated that it will follow the example set by the federal government, which holds that marijuana is a Schedule 1 drug.

According to Don Murphy, the director of federal policies at the Marijuana Policy Project, passing these bills should be the first order of business for a ‘Congress that prides itself on supporting our veterans.’

“Like every American, veterans should be granted the freedom to access cannabis to treat their medical conditions as an alternative to potentially dangerous pharmaceuticals,” Don Murphy asserts.

Former VA Secretary Dr. David Shulkin states that there is growing evidence that properly prescribed medical marijuana may have some real benefits in anxiety improvement, pain management and potentially, in the issue of substance abuse.

“I think the time is now. I believe that the VA should be involved in research on anything that could potentially help veterans and improve their health and well-being,” says Shulkin.

The bills still have a long way to go before they become law, so experts think cannabis companies like SinglePoint Inc. (OTCQB: SING) will only be happy once veterans are allowed by law to consider medical marijuana for their 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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HempNewsBreaks – MCTC Holdings, Inc. (MCTC) Announces New Line of Hemp You Can Feel(TM) Sweeteners, Coffee Creamers

MCTC Holdings (OTC: MCTC), a cannabinoid and hemp extract science forward company developing infusion and delivery technologies, today announced the completion of its research and development phase for its Hemp You Can Feel(TM) line of sweeteners and coffee creamers. Each product in the line, comprised of two low-calorie sweeteners, two organic natural sweeteners and three powdered non-dairy creamers, will feature the company’s new new ultra-low dose form of its patent pending Hemp You Can Feel(TM) technology based on all-natural hemp infusions. MCTC intends to offer consumer sized packaging of the products on its website (www.HempYouCanFeel.com) and plans to provide larger unit sizes to food manufacturers and processors. “This is an exciting and unique product line, not only because it features our revolutionary Hemp You Can Feel(TM) technology, but also because the products in the lineup utilize 100% natural infusions of hemp,” MCTC Holdings CEO Arman Tabatabaei stated in the news release. “With our technology, chemical surfactants, emulsifiers and processing agents are not needed. Consumers can now simply and easily add these sweeteners and non-dairy creamers to beverages for easy flavorings.”

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

About MCTC Holdings, Inc.

MCTC Holdings, Inc. (d/b/a: Cannabis Global) is a Delaware 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, MCTC 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 and its intent to change its corporate identity to Cannabis Global, Inc. 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 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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420 with CNW – Study Finds Marijuana Legalization Boosts Housing Prices

For many, the legalization of recreational marijuana might as well have been trumpets loudly declaring the end of times. Arguments against it ranged aplenty, with some claiming it is a gateway drug while others claimed it would result in increased crime rates. But what many hadn’t considered was the effect it would have on real estate.

Economists from the University of Oklahoma ran a study to find out the effect marijuana legalization had on housing prices, and their results were quite interesting. They examined listings on Zillow, and after tracking them against legalization in Colorado and Washington State, found that legalization ‘has beneficial spillover effects at both the state and local levels.’

“Concern about the potential effect on crime rates and the difficulty in policing impaired driving have been cited as reasons to slow-walk the path to full recreational legalization. This research contributes to the discussion, providing evidence that recreational marijuana legalization (RML) has large spillover effects on the local housing market,” the study authors write.

According to the study, neighborhoods in Colorado and Washington saw a 7% price increase as marijuana retailers opened shop. “Considered together, this research suggests that there are second order benefits associated with marijuana legalization that policy makers and voters should be aware of when deciding the drug’s legal status,” the authors assert.

Apparently, marijuana dispensaries are seen as amenities, and they affect the value of the neighborhoods around them.

“Marijuana’s legalization provides a novel source of tax revenue which states have used to fund capital expenditures, especially in education and it acts as an amenity via the dispensaries that distribute it,” says the paper which was published online by the SSRN. It adds that the creation of a new legal market has direct implications for the local economy, as it establishes new dispensary jobs and reduces arrest rates. All these factors have well-established impacts in housing markets.

One of the more interesting discoveries was that while the prices of more expensive homes increased immediately following a successful ballot drive to legalize marijuana, homes in less expensive homes only saw a price increase after the stores started business. They say liquidity may be a factor as “the wealthiest households can more rapidly move to legal states if they believe there to be some positive spillover effects from legalization.”

However, they say that their research may not be able to determine whether their positive effect will persist. At the moment, though, it seems marijuana dispensaries offer a lot more than cannabis.

“This demonstrates that it is not simply the benefit of increased tax revenue, but also the existence of the dispensaries themselves that is driving the price increases. The dispensaries act as commercial amenities that the public puts a premium on being nearby.”

These study findings may come as welcome news to members of the cannabis industry, such as Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), who have always believed that the full benefits of marijuana may take long to be fully enumerated.

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 – The Marijuana Industry Has Already Created More Than 250,000 Jobs

Marijuana is quite a divisive topic. For the most part, most opinions are split down the middle, with people being either for or against legal marijuana. There’s a lot you can say in defense of marijuana, such as its diverse range of medical applications to the fact that it doesn’t have the side effects pharmaceuticals are known for. However, marijuana’s ability to create employment is almost unparalleled.

According to Leafly’s annual Cannabis Jobs Report, there were 240,000 full-time equivalent (FTE) jobs supported by the legal cannabis industry as of January 2020, a 15% increase from 2019. This translates to 33,700 new jobs in 2019 alone, with Illinois, Oklahoma, and Massachusetts enjoying the most cannabis industry job growth.

Coupled with a projected growth rate of 250% between 2018 and 2028, this makes legal marijuana the fastest growing industry in America, surpassing even the most in-demand tech jobs. However, the fact that marijuana is still illegal at the federal level, and is subject to a patchwork of state legislation, complicates matters.

“There are now nearly a quarter of a million Americans whose professional lives are categorized as illegal or non-existent by the government of the United States,” the report states. “That is outrageous.”

Massachusetts saw an increase of 10,226 jobs and Oklahoma added more than 7,300 jobs. Illinois’s legal marijuana market opened just this year for sales, and it has seen explosive growth in the short period, with 9,176 new jobs being created. The report ranked the state tenth in marijuana jobs in the country.

According to the Chicago Sun-Times, a variety of other white-collar professions have also sprouted around the legal marijuana industry, including attorneys specializing in cannabis law as well as doctors and other medical professionals who treat medical cannabis patients.

Dr. Rahul Khare, for instance, is a former emergency physician who has been treating medical cannabis patients at his Lincoln Park urgent care center. “I didn’t ever think cannabis would ever be legal in medical school. I never thought I’d be using cannabis as a medication,” he says.

Florida, on the other hand, has a massive market for medical marijuana, with more than 300,000 medical marijuana patients. According to a 2019 study by New Frontier Data, Florida’s adult-use market may make up 12% of the national cannabis market and employ 128,000 by 2025 if recreational marijuana becomes legal.

Experts say that this huge explosion of marijuana jobs gives credence to what industry actors, such as ChineseInvestors.com Inc. (OTCQB: CIIX), have always said about the economic and other benefits of legalizing cannabis at all levels.

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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