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 – Canadian Companies Offer Lower-Priced Marijuana to Stifle the Black Market

In an effort to outpace the illegal market, marijuana companies in Canada are introducing lower-priced, ‘value brand’ marijuana products. The illicit market in Canada accounts for about 70% of all marijuana sales.

Canada legalized recreational marijuana in 2018 under the Cannabis Act. After Uruguay, Canada is the second country on the globe to legalize marijuana for adult-use purposes nationally.

Statistics Canada released a report in December last year stating that marijuana sales in Canada in that year were around $908 million, and the number of retail marijuana outlets was more than 400 in the country. However, as of September 2019, 15% of the total revenue was generated from online sales shops and retail stores.

Since marijuana was legalized in Canada in 2018, a total of 13.3% of business represented online sales from marijuana stores, while retail sales from licensed cannabis stores and wholesalers accounted for a total of 1.9%, the report said.

According to Statistics Canada, marijuana that was sourced legally was sold at an average price of $7.84 per gram, while on the black market, it was sold at an average price of $4.36 per gram during the fourth quarter of 2019.

The stiff competition in the marijuana industry has prompted three of the largest marijuana producers in Canada, Aurora, Canopy Growth, and Tilray, to introduce into the market low-priced marijuana products that are offering consumers an equal, if not better value for their money.

According to CNBC, this April, Canopy Growth would be offering a one-ounce product referred to as Twd. 28. Twd. 28 would be priced at $4 per gram, and the THC concentration would be ranging from 13% to 25%.

Speaking to CNBC, the head of business development at Canopy Growth Adam Greenblatt said that the new products and the lower pricing are all designed to pull customers from the black market back to the legal sources.

Greenblatt further said that the new product is there to provide more variety and value to the ideally mature marijuana market. He also noted that low-priced marijuana attracts bulk-purchasers, and people who are looking to buy marijuana by the ounce. The legal market has been having a challenge attracting people who purchase marijuana by the ounce, and the black market took advantage of this shortcoming.

Tilray is launching a brand known as The Batch, and it will be sold in three sizes, with the highest being seven grams having THC levels ranging from 10% to 15.9%.

Speaking to CNBC, the Chief marketing officer at Tilray, Adin Fabiani-Carter, said that The Batch is focused on providing marijuana consumers with quality marijuana flowers and pre-rolls at competitive prices.

Fabiani-Carter further said that his company expects the new product to increase revenue and profitability over the long term.

Aurora would be introducing a new brand known as Daily Special. Its THC level will range from 15% to 21%. It will be available in three sizes, with the largest being 15 grams.

It remains to be seen what lessons industry players like Willow Biosciences Inc. (TSX: WLLW) (OTCQB: CANSF) will draw from this shift in pricing strategy.

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 – Missouri Lawmakers Probe Allegations of Bias in Marijuana Licensing Process

Missouri legislators still have questions about the alleged conflicts of interest in the new medical cannabis industry, irrespective of the testimony obtained from state regulators in the past few weeks.

At the beginning of February, the Missouri House’s government oversight committee started holding hearings to examine the rollout of the medical marijuana program after reports on scoring irregularities were spread across the state, and unsuccessful applicants filed hundreds of appeals.

The state’s medical marijuana czar, Lyndall Fraker, was questioned on a wide range of topics, such as why a private company was hired to rate the applications as well as how the state is going to handle the appeals of more than 800 applicants who were denied permits.

However, the lawmakers’ concern during the hearing was that the conflicts of interest could have tipped the scales to favor particular applicants.

The company which was hired to score the applicants, Wise Health Solutions, is at the bane of the allegations. The company is a joint venture between Veracious Investigative & Compliance Solutions and Oaksterdam University, which offers courses on marijuana.

Rep. Jared Taylor (R) said during a recent hearing that he has concerns that there were conflicts and that he finds it hard to believe that there was no conflict. He thinks it is something that should be investigated.

However, Fraker has stood his ground that there was no evidence of conflict of interest. He further noted that very few appeals contain any detail or proof irrespective of the large number of appeals submitted.

Fraker further said that they believe the attestation of Wise Health Solutions that there existed no conflict of interest.

And since the lawmakers still have questions lingering, this week, they will be questioning Randall Williams, the director of the Department of Health and Senior Services.

The constitutional amendment that approved the legalization of medical marijuana within the state complicates the state’s defense since it stipulates that information about the companies that won the licenses cannot be released. This stipulation is worrying the legislators that a lack of transparency on the companies could undermine the public confidence in the system or, worse, assume that they are covering for someone who manipulated the system during the scoring and awarding of the permits.

Jon Carpenter said that they need to be more transparent in the process to give the applicants peace of mind. Carpenter is a Democrat from the City of Kansas, and he serves on the government oversight committee.

Experts say that if the issues in Missouri aren’t quickly resolved, they could damage the image of state regulators before the industry, including players elsewhere like ChineseInvestors.com Inc. (OTCQB: CIIX), since the sector has grown on the promise of bringing opportunities to everyone in equal measure.

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HempNewsBreaks – SinglePoint Inc. (SING) Supplying Quality Hemp Products to Emergent Market

Diversified holding company SinglePoint’s (OTCQB: SING) 1606 Original Hemp Cigarette brand has been amassing substantial sales online. An article further discussing the company’s hemp brand reads, “On the hemp front, SinglePoint’s 1606 Original Hemp line features a filtered, pre-rolled, 100% tobacco- and nicotine-free hemp cigarette. Of note is that the smokable hemp market currently represents about 2% of the overall CBD market — with 250% growth from 2017 to 2018. New Frontier Data estimates that the U.S. legal cannabis market will grow to $30 billion by 2025 (http://cnw.fm/Dyg8E). Based on those numbers, SinglePoint is at the vanguard of this trend as the company positions itself to supply quality hemp products to a demanding consumer marketplace desiring innovative hemp products. . . . SinglePoint continues to focus on being a diverse enterprise with an extensive footprint. For investors, the company’s solar and hemp programs offer the potential for major ROI in two thriving industries. SING is delivering on its strategy of acquiring and working with key company management to build successful candidate companies.”

To view the full article, visit http://cnw.fm/ldO5A

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 – CannabisNewsWire to Again Serve as Official NewsWire for Full Slate of 2020 CWCBExpo Events

CannabisNewsWire (“CNW”), a multifaceted financial news and publishing company part of the InvestorBrandNetwork (“IBN”), today announced that it will serve as the Official NewsWire and Sapphire Sponsor for the full slate of 2020 Cannabis World Congress & Business Expo (“CWCBExpo”) events. In addition, IBN will participate as an Official Media Sponsor for the CWCBExpo gatherings. “We are honored to once again be selected as the official newswire for CWCBExpo,” CNW Communications Director Jonathan Keim said in the news release. “The Cannabis World Congress & Business Expo team has built a strong reputation for offering premier events in the cannabis space, and we are thrilled to be able to support and strengthen those efforts via multiple distribution channels, including CannabisNewsWatch, CBDWire and other cannabis-related brands of IBN.”

To view the full article, visit http://cnw.fm/0eqXI

About CWCBExpo Events

CWCBExpo events are must-attend gatherings designed for experts, professionals, entrepreneurs and enthusiasts in the cannabis space to legalize, educate, strengthen, expand and help legitimize the cannabis industry. Additional details about the upcoming events, including ticket information, can be found at the following link: www.CWCBExpo.com.

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 – Sugarmade, Inc. (SGMD) Announces 300% Growth in Budcar Delivery Volume, Eyes $15M 2020 Revenue Target

Sugarmade (OTCQB: SGMD) today announced a dramatic 300% sequential monthly jump in delivery volume in BudCars Cannabis Delivery Service in February. According to the update, the rise in volume follows the company’s negotiated agreement toward a controlling stake in Budcars and its investment in expanding the leading delivery service’s operations and reach in Northern California. Provided recent data on growth in daily orders is reliable and indicative of the impact of the company’s recent measures over coming months, management projects a Budcars top-line run-rate capable of surpassing $15 million in sales in 2020. “Some of our shareholders have suggested that our vision for a massively expanded and vertically integrated Budcars might be explained to the world as the ‘Uber Eats of the cannabis market.’ But we believe that’s actually a dramatic underestimation of where Budcars is headed,” Sugarmade CEO Jimmy Chan said in the news release. “This is far more promising from a bottom-line perspective, given that we aren’t simply delivering someone else’s product. The retailer gets the juicy 20 percent net margin in this business. We are positioning ourselves as a ‘Cannabis concierge service’ focusing on a truly unique cannabis experience.”

To view the full press release, visit http://cnw.fm/EnMC8

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, visit the company’s website at www.Sugarmade.com.

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

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420 with CNW – Florida Senate Moves to Limit Medical Marijuana THC Potency

On Friday afternoon, the Florida Senate filed a proposal whose aim is to put a limit on the amount of THC available in medical marijuana products. The potency cap would be at 10%.

THC is the psychoactive compound found in marijuana. It induces the high effect. THC can be found in all forms of marijuana ranging from whole-flower, tinctures, oils, vaporizers, and edibles.

The amendment was filed by Senator Gayle Harrell (R-Stuart) and it was part of a larger health care package. The bill’s last stop is the Senate Rules Committee, and it will take up the amendment early this week.

The current law in Florida places a cap on the amount of THC in marijuana edibles only. The edibles should contain no more than 10mg of THC per serving and an overall of 200mg. According to industry experts, the current doses in edibles are higher than what most patients would consume in a normal situation.

The amendments cap on THC at 10% applies to people who are under 21years, excluding those who are terminally ill and those whose doctors recommend for medicine with a high THC concentration.

Harrell said that she is worried that young people have access to marijuana products with high THC concentration, and it could negatively affect brain development.

Limiting the amount of THC in medical marijuana was first introduced during the 2019 legislative sessions, where a House Bill that would have put a 10% cap on smokable medical marijuana or flower was proposed. The legislation would have barred doctors from certifying patients below the age of 18 for full-strength marijuana products.

The bill, which was introduced by Rep. Ray Rodrigues (R-Estero) quoted a study which indicated that marijuana containing high levels of THC was associated with early onset of psychosis and the development of schizophrenia in marijuana consumers.

Rodrigues cited a Swedish study, which was based on patients who self-reported their history of marijuana consumption and had also experienced at least one psychotic episode in their life.

The bill never advanced in the House despite the support from the Speaker Rep. Jose Oliva (R-Miami Lakes).

Last week, Senator Jeff Brandes held a press conference where he urged the House not to support a THC cap. He noted that the Senate would put a hold on the issue. Brandes expressed his disappointment on Friday, when he said that the Senate should focus on solving real problems.

Speaking to Herald Times, Brandes said that physicians understand the legislation better as well as the needs of their patients; therefore, they should be allowed to weigh in on the benefits and risks for their patients.

Harrell and Brandes have different views on the issue of the THC cap. The Senate President Bill Galvano indicated that he was open to considering the THC cap.

Those who are opposed to the amendment said that if it is approved, it will be a burden on medical marijuana prices because the prices for the products will be hiked, and this would eventually force patients to buy from the illicit market to self-medicate with higher THC marijuana products.

Colorado had raised the THC limit to 16% in 2016 via a referendum but later withdrew the proposal.

It would be interesting to hear how sector players like HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) would weigh in on this debate regarding THC caps on medical marijuana products in light of the black market which still commands a huge share of total marijuana sales.

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420 with CNW – Denver Study Finds Fewer Teens Opting to Consume Marijuana

Results from a new survey conducted in the City and County of Denver show that more teens are choosing not to consume marijuana. Denver believes that the improved results in teen consumption are because of the marijuana youth prevention campaign, which is based on facts.

The campaign, which is referred to as the High Costs Marijuana Youth Education and prevention, was formed to educate the youth within their state on the effects of underage consumption on their passions, pursuits, and future.

Instead of using scare tactics, the campaign is focusing on providing the youths with facts peer-to-peer so that they can engage in accurate and empowering peer-to-peer conversations. However, in the past, campaigns did not focus on education as their primary goal of drug prevention.

In the 1980s and 90s, drug prevention campaigns used scare tactics and fear. Browsing the internet for drug-related commercials that date several decades back, you will find an ad where an egg is cooking on a pan, and the narrator likens the sizzling egg to your brain on drugs.

In other commercials, the slogan ‘Just Say No’ was used to advise students to ward off peer pressure. Campaigns that targeted drug-using parents used lines that said ‘parents who use drugs, have kids who use drugs.’

The current marijuana youth prevention campaign, which was started in 2017 in Denver, is working because it has adopted a different approach to educating rather than instilling fear.

According to the Director of Communications at the Department of Excise and Licenses for the City and County of Denver Eric Escudero, the High Costs campaign has a goal of providing facts to children to prevent kids from underage consumption of marijuana.

Escudero also said that they give the kids information on issues that they care about, advice such as how marijuana consumption can affect their scholarship, getting a driver’s license, as well as their health and laws. He also noted that some kids make the decision not to use marijuana on their own.

The survey, which was conducted by Insights Lab, took place from mid-November to mid-December. The number of teens who participated in the study was 537 between the ages of 13 through 18.

The survey found that 56% of the respondents were familiar with the campaign.
Eighty-one percent of the participants between the ages of 13 and 17 were not currently using cannabis, which is higher than in 2018, which consisted of 80%.
The majority of the teens were familiar with the campaign, and they agreed that its message was clear, educational, and 75% percent said it was also likable.

Although the number of teens who participated in the survey was small, the City and County of Denver are hoping that it represents the whole of Denver youth population.

Experts agree that cannabis industry actors like MCTC Holdings Inc. (OTC: MCTC) are happy with the changed way in which authorities are trying to reach the youth. Accurate unbiased information empowers someone to make the right decisions rather than scaremongering in this day and age when information is readily available online.

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CannabisNewsBreaks – Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) Inks Sales Agency Agreement with humble+fume

Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) recently signed a landmark sales agency agreement with one of North America’s leading distributors of cannabis accessories — humble+fume (http://cnw.fm/nt7Jw). An article discussing the company reads, “SPRWF’s new agreement calls for humble+fume to act as the exclusive sales agent for Supreme Cannabis Company’s recreational products across Canada, achieving coast-to-coast coverage while, at the same time, creating an appealing sales proposition for retailers. The partnership establishes the only sales force in Canada able to offer a full cannabis solution that includes the sale of both cannabis and cannabis accessories, which are known as high-margin items for retailers. . . . ‘humble+fume is excited to have been chosen by Supreme Cannabis to be their coast-to-coast sales solution partner,’ humble+fume CEO Bob Ritchot stated in a news release. ‘With the rapid expansion of retail outlets in Canada, this well-timed, sales-agent agreement enables us to accelerate our retailer market coverage and build on our existing distribution to 85% of cannabis retailers across Canada.’”

To view the full article, visit http://cnw.fm/O8x0F

About Supreme Cannabis Company Inc.

Supreme Cannabis (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 by 7AC 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 – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Builds on Strong Cannabis Brand Foundation to Expand into New Markets

Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis and hemp-branded products company in California, has built a brand in the largest competitive market, setting itself up for expansion into new markets. An article discussing the company reads, “From day one, Plus Products’ strategy for growth was to build a brand and product in the largest competitive market and achieve success before moving to new markets. After six quarters with a product sitting at California’s top spot, PLUS has proven to the consumer its commitment to superior products. PLUS Uplift sour watermelon gummy was the best-selling cannabis product in California, and PLUS was the largest infused-gummy brand over that time period. However, the company has eyes to further prove itself to a larger market. Looking forward, the company has set its sights on becoming the world’s strongest cannabis brand portfolio (http://cnw.fm/4OMxT). . . . With that goal in mind and with its products available in over 300 licensed retailers across California, PLUS made its move. In Q3 2019, the company unveiled a website featuring a new product line of 100% hemp, CBD-infused gummies that are available online in more than 40 states, and in Q4 2019, PLUS launched its best-selling product line in Nevada.”

To view the full article, visit http://cnw.fm/TMt8n

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

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CannabisNewsBreaks – Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) Reports Revenues of $5.5M for Quarter Ended December 31, 2019

Wildflower Brands (CSE: SUN) (OTCQB: WLDFF) this morning reported financial results for the second quarter ended December 31, 2019, including $5,514,502 in revenues for the quarter, representing a substantial increase from $1,410,135 during the same period of the previous year. Per the update, revenues were projected to be down as a result of the sudden drop in vape sales and the close of the company’s Robson store to move to its newly renovated, licensed, 2,800-square-foot facility at Robson and Granville.

To view the full press release, visit http://cnw.fm/USq4l

About Wildflower Brands

Wildflower Brands is a Vancouver-based pioneer in the cannabis industry that develops, designs and operates brands throughout North America. The company’s brands work together to make Wildflower a leader in cannabis innovation throughout the globe. The company operates British Columbia’s largest retail cannabis chain under the brand City Cannabis Co. For more information, visit the company’s website at www.WildflowerBrands.co.

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