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 Moms Come Together Against Marijuana Stigma

Canadian mothers who are also marijuana consumers have been complaining that they are criticized more than dads who are weed consumers. In the past few months, several organizations have been established to provide mothers with a safe place to discuss marijuana and reduce stigma surrounding moms who use marijuana.

Before the legalization of recreational marijuana in Canada, Shannon Chiarenza from Vancouver started an attack on stigma against moms who are marijuana users by launching a website known as Weed Mama. Chiarenza’s website gives parents and women information about marijuana, product reviews, and offers them a community where weed consuming mothers can discuss issues affecting them.

Since Chiarenza launched her website, there has been an upsurge of activity of women following in her footsteps, who are hoping to eradicate the stigma surrounding marijuana and motherhood.

Natasha Albert is a mother of two, and she resides in Saskatoon. Albert started recording a podcast called Smoke Rings with Aquarius after she was criticized for using medical marijuana. Her podcast will start airing before the end of January.

Speaking to a major TV channel, Albert said that she uses medical marijuana to treat her depression, which helps her to be a better parent and be involved more with her kids.

Riley Parratt, a single mom, residing in Kingston, Ontario, and her friend Hollie Quinn, a mother and medical marijuana user living in Orangeville founded a Facebook page called Canadian 420 Moms. Quinn has been using medical marijuana for several years to manage epilepsy, depression, and anxiety.

Parratt said that we are in an era where it is socially acceptable for a mother to have a glass of wine; thus, it should also be acceptable for mothers to consume marijuana.

Parratt further said that she was upset by the assumption that mothers who are marijuana users cannot function as a parent after using marijuana. She noted that marijuana helps take the edge off and that they can work like everyone else.

Coming out as a marijuana user for moms may threaten their jobs at their workplace, friendships, and family support. Marijuana stigma surrounding mothers also affects their children’s friendships, said Quinn.

Quinn further said that at the park, kids whose mothers are marijuana users are not allowed to play with other kids nor at their homes.

However, the judgment for consuming marijuana affects women from all walks of life, whether they have kids or not, and it is not fair. She strongly feels that this stigma should come to an end.

Industry watchers assert that the efforts of such women trying to end stigma against mothers who legally use marijuana enjoys the moral support of marijuana companies like Willow Biosciences Inc. (TSX: WLLW) (OTCQB: CANSF) since Canadian law allows adults and patients, regardless of their gender, to consume marijuana.

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 – Top 5 Ways Canadians Are Being Busted on Marijuana-Related Charges

When Canada legalized adult-use marijuana in 2018, people thought the country would become a hub for weed lovers. However, the Cannabis Act did not legalize marijuana in all its forms, and it also changed the way the marijuana plant was being regulated.

Several marijuana laws and bylaws are governing the marijuana sector. Some of the rules are to protect the citizens and are widely frowned upon by the police, while some are to ward off illegal activities that attract several consequences.

Even though recreational marijuana is legal in Canada, five of the weed-related offenses discussed below could land you in trouble with law enforcement and attract subsequent penalties.

  1. Impaired driving

Driving under the influence is risky for yourself as well as others, and the way the police are evaluating the presence of marijuana is considerably complicated.

Several studies have shown that the testing devices used by the police to check for marijuana impairment are not entirely accurate. Over a year ago, Michelle Gray, a resident of Nova Scotia using medical marijuana to treat multiple sclerosis, was stopped for a routine traffic check and she tested positive for marijuana even though she had not consumed any weed six hours before getting behind the wheel. After she was arrested, she was subjected to an intensive sobriety test which she passed and was released; however, she had to pay $300 for her car to be released and missed several working days. She is now challenging the law in court.

  1. Interstate transportation of weed

Canadian law prohibits ferrying weed into or out of the country. It does not matter if it is for medical use or that the flights were diverted or if you were traveling from a state where marijuana is legal.

  1. Selling without a permit

Before legalization, the authorities were not focused on unlicensed dispensaries; however, since October 2018, law enforcement has been tracking down all illicit sellers. When a decade old, non-profit compassion club, Victoria Cannabis Buyers Club, was shut down by B.C’s Community Safety Unit, members of the marijuana community were enraged.

Raids and busts have been taking place across the provinces and also on indigenous territories, and several people have been arrested for operating dispensaries and consumption lounges without permits.

As per the federal law, charges can range from a ticket to a maximum of 14 years in jail.

  1. Possessing more than the stipulated amount of marijuana

The federal marijuana Act in Canada allows people to carry not more than 30 grams of dried cannabis flower, and this varies depending on the province as some stipulate it to be below 120 grams. You will face serious consequences when found, except when in need of emergency medical or law enforcement assistance.

  1. Laundering weed money

Businesses or people found helping unlicensed marijuana businesses hide the proceeds of their cannabis sales will usually face severe legal consequences.

According to law enforcement, in December of 2019, Moxipay was charged for facilitating more than 84,000 illegal transactions, where about $15 million was received as proceeds from several unlawful online marijuana companies’ sales. Moxipay is based in Edmonton and was busted by the RCMP.

The customer’s money first went through Moxipay and then it was transferred to the respective companies. Several company employees and four directors are currently facing charges such as the commission of an offense for a criminal organization and laundering money for unlawful businesses.

These scenarios provide a cautionary tale for people in U.S. states where marijuana is legal in some form, and this could provide additional emphasis as to why weed companies like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) urge users to ensure that they understand all the applicable laws before consuming a cannabis product.

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 – ChineseInvestors.com Inc.’s (CIIX) CBD Biotech Subsidiary Drives Company Growth

ChineseInvestors.com (OTCQB: CIIX) CEO Warren Wang recently discussed the company’s growth potential and the vital role of its CBD Biotech subsidiary during an interview on MoneyTV with Donald Baillargeon (http://cnw.fm/6imjU). An article discussing the company reads, “[Wang] cited the high gross margins of CBD cosmetics for the company and said the firm would work to bring more of that profitability down to the bottom line through lower costs and restructuring. CIIX offers a variety of products in its line, ranging from hemp wine to CBD-infused cosmetics. . . . ‘We can achieve in cosmetic products a 10X to 20X profit margin. That’s quite a big profit,’ Wang said in the interview. ‘Our goal is to make the company healthier by stabilizing it and making it not as reliant on the street for financing.’”

To view the full article, visit http://cnw.fm/KGrS5

About ChineseInvestors.com Inc.

Founded in 1999, ChineseInvestors.com endeavors to be an innovative company by providing (a) real-time market commentary, analysis and educationally related services in both traditional and simplified Chinese language character sets; (b) advertising and public-relations-related support services; and (c) retail, online and direct sales of hemp-based products and other health-related products. For more information, visit the company’s website at www.ChineseInvestors.com.

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

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 – 2020 Benzinga Cannabis Capital Conference to Bring Together Industry Movers and Shakers

The Benzinga Cannabis Capital Conference, the premier cannabis gathering and networking event now in its sixth installment, is headed to Miami next month. Set to take place at the Fontainebleau Miami Beach Hotel from February 24-25, the event will draw cannabis entrepreneurs and investors from across North America to learn about and discuss the growing industry. Benzinga today announced an expansive list of high-profile speakers scheduled to shed light on the hottest topics, trends and insights at the Miami event. “This conference is about bringing together the movers and shakers behind the industry. Hundreds of millions of dollars have been raised at previous bzcannabis.com events,” Benzinga CEO and Founder Jason Raznick said in the news release.

To view the full press release, visit http://cnw.fm/b7rW5

About Benzinga

Benzinga is a leading financial media company dedicated to making information easier to consume. Benzinga’s news desk is constantly breaking stories and moving billions of dollars of market capitalization through its real-time news tool, Benzinga Pro. Benzinga’s original content is syndicated to 70 partner websites including Yahoo! Finance MSN, CNNMoney, Fox Business and MarketWatch. To find out more or register to attend the Benzinga Cannabis Capital Conference, visit the event’s official website at https://benzingacannabisconference.com/miami.

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 – USA CBD Expo Headed to Vegas to Showcase Growing Wellness Trend

Following its successful inaugural event last summer in Miami, USA CBD Expo is heading to Las Vegas to showcase the growing wellness trend rising in popularity across the globe. The upcoming event is slated to take place at the Las Vegas Convention Center from February 13-15 and set to draw industry insiders and general enthusiasts to share expertise and learn about the benefits of CBD, as well as showcase, sample and discover the industry’s latest products and innovations. “After seeing the excitement and success behind our Miami event – where we hosted more than 13,000 attendees – we feel energized, ready to deliver and exceed expectations for Las Vegas,” Jason Monti, USA CBD Expo partner, said in the news release. “Nevada is at the epicenter of the booming legal cannabis market, and CBD has an enormous role in that. The opportunities are endless for both consumers and business owners, and we’re excited about creating a platform that allows so many components of our industry to come together.”

To view the full press release, visit http://cnw.fm/y3FoS

About the USA CBD Expo

USA CBD Expo aims to bring together hundreds of leading CBD brands and products from vape manufacturers, holistic and health food producers, pet care brands, and more. Held at the Las Vegas Convention Center, the Expo brings together cutting-edge product developers, top-tier buyers, and the industry’s greatest minds for three days of invaluable networking and exhibition. The event is organized by ZJ Events LLC, which has held the successful Vape Conventions series of trade shows across the globe. To purchase tickets or to learn more about USA CBD Expo in Las Vegas, go to www.USACBDExpo.com or email Media@USACBDExpo.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.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

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CannabisNewsBreaks – Agrify Completes Strategic Acquisition of TriGrow, Accelerates Plans to Build Full-Service Gateway to High-Growth Cannabis Markets

Agrify, a developer of premium indoor grow solutions, today announced completion of its acquisition of all outstanding shares of TriGrow Systems Inc. and, indirectly, 75% of its subsidiary TriGrow Brands, LLC. According to the update, TriGrow, backed by leading cannabis industry venture funds including Poseidon Asset Management and Arcadian Funds, is currently the exclusive distributor of Agrify’s fully automated, micro-climate, precision-controlled vertical farming unit (“VFU”) solution to indoor cannabis cultivators. “Agrify’s highly strategic acquisition of TriGrow sets the stage for an exciting 2020,” Agrify Founder and CEO Raymond Nobu Chang said in the news release. “With TriGrow, we accelerate our plans to build a powerful, single-source gateway to the high-growth cannabis markets with fully-integrated indoor farming solutions and services.”

To view the full press release, visit http://cnw.fm/I3Bpb

About Agrify

Agrify is a rapidly growing developer of premium indoor grow solutions for the cannabis and hemp marketplace. The company’s comprehensive grow solutions have been developed with one mission in mind: to assist its valued customers in producing the highest quality product possible with consistency and superior yields. Agrify is a non-plant-touching company; to learn more, visit www.Agrify.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 – VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) to Commence Trading on the Toronto Stock Exchange; Provides Cannabis 2.0 Update

VIVO Cannabis (TSX.V: VIVO) (OTCQX: VVCIF), an Ontario-based cannabis company recognized for its premium products and services, today announced that its common shares are set to start trading on the Toronto Stock Exchange (“TSX”) under the symbol ‘VIVO’ at market open on January 24, 2020. The company’s common shares will be voluntarily delisted from the TSX Venture Exchange in connection with the TSX listing. “The strength of the Toronto Stock Exchange is world-class, and this event represents a tremendous milestone for VIVO,” VIVO Cannabis CEO Barry Fishman stated in the news release. “We believe the TSX listing will increase VIVO’s exposure to a wider audience, increase trading liquidity and expand access to a large new pool of institutional investors.”

In addition, the company provided an update regarding its cannabis 2.0 products. Per the update, VIVO has successfully shipped cannabis 2.0 products from its Canna Farms facility to the provinces of Saskatchewan and Manitoba, and anticipates shipping purchase orders to Alberta, Ontario and British Columbia very soon. Before the end of Q1 2020, VIVO expects to make initial shipments of its Fireside(TM) chocolate products to British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and its Fireside(TM) concentrates and vape products from its Vanluven facility to Alberta, Ontario, British Columbia and New Brunswick. “We expect that by the end of Q1 2020, our cannabis 2.0 products will be available for sale in seven provinces, which is a significant achievement considering the recent opening of the market,” VIVO Cannabis CEO Barry Fishman stated in the news release. “We are proud of our suite of 2.0 products and look forward to our customers having the opportunity to experience them for themselves.”

To view the full press release visit http://cnw.fm/hL1nb

About VIVO Cannabis(TM)

VIVO, based in Napanee, Ontario, is recognized for trusted, high-quality products and services. It holds production and sales licenses from Health Canada and operates world-class indoor cultivation facilities with proprietary plant-growing technology. VIVO has a collection of premium brands targeting unique customer segments, including Beacon Medical(TM), FIRESIDE(TM), Canna Farms(TM) and Lumina(TM). In August 2018, VIVO acquired Canna Farms, a premium cannabis company based in Hope, British Columbia. Canna Farms was B.C.’s first Licensed Producer and has several years of craft cultivation experience and expertise, as well as a significant patient base and positive cash flow. The Company is significantly expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany and Australia. VIVO also operates Harvest Medicine, a patient-centric and highly scalable network of specialty medical cannabis clinics as well as a free telemedicine service. VIVO has a healthy balance sheet and is well-positioned to accelerate its growth in Canada and internationally. For more information, visit the company’s website at www.VivoCannabis.com.

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

About CanadianCannabisWire

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

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420 with CNW – Additional Taxes Could Make Illinois Recreational Weed a Lot More Expensive

Marijuana customers in Illinois are in for a price shock come July 1 this year as new taxes take effect. Currently, in Illinois, marijuana sales are being subjected to state and local taxes, plus an additional state marijuana excise tax, which has increased the overall tax rate from 20.25% to 35.25% in the municipalities and counties. This also depends on the potency of marijuana being sold.

The cities and counties in the state are yet to start imposing local weed taxes, which is 3 percent each, and this could drive up the overall tax rate to 41.25%. Of the 11 states where adult-use marijuana is legal, Washington is the only state whose tax rate is higher at 47%.

During the first day of recreational marijuana sales in Illinois, some marijuana customers posted their receipts on social media, which attracted a lot of attention. But, as far as sales are concerned, tax rates didn’t seem to deter the customers.

The supply of recreational marijuana is low and it cannot meet the existing demand. And, it is predicted that the recreational marijuana shortage may be experienced even in 2021 because additional demand for marijuana will come in through online shoppers in the coming months.

The managing director for BDS Analytics, Tom Adams, said that it is exciting going into a marijuana shop for the first time, but the feeling dies off real quick when they start running the numbers in your head, and the demand reduces. BDS Analytics is a research firm that tracks the marijuana sector.

The CEO of MedMen, Adam Bierman, said that the customer’s shopping experience is ruined by the high taxes. MedMen is based in Los Angeles and operates dispensaries located in Evanson and Oak Park.

Tom Adams further said the higher taxes would force people to buy weed from the black market where there are no taxes; thus, the illicit market will continue to grow.

According to BDS Analytics estimates, in Washington, the black markets take up 51% of the total marijuana sales, while in Colorado, where taxes are 25%, the black market accounts for 34%.

Michigan launched its recreational marijuana sales on December 1 last year, and its overall tax is at 16%.

Tax is one of the factors that determine the growth of the legal marijuana market, said Adams.

Because the marijuana shortage in Illinois will not be solved anytime soon, the consumers within the state may not see the effect of the imminent tax increase for a while.

A few months ago, the legislators warned that the tax rates might influence marijuana sales, but since every level of government within the state is struggling financially, they were more focused on the income that would come with legalization.

This year, the state expects to collect $57 million in tax revenue from marijuana sales, which would increase to $141 million for the financial year beginning on July 1. The state of Illinois estimates that within four years, it will have hit $376 in tax revenue.

Industry experts say that it wouldn’t be surprising if companies like Dama Financial and ChineseInvestors.com (OTCQB: CIIX) associated with the cannabis industry recommend a revisiting of the Illinois marijuana tax regime in order to avoid stifling the nascent legal industry.

About CNW420

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

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

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

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

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420 with CNW – Arkansas Piles Pressure on Licensed Medical Marijuana Dispensaries to Open

On the morning of January 19, local media outlets published several stories updating the residents of Arkansas on medical marijuana, as the opening of dispensaries continues at a slow pace. Half of the state’s licensed dispensaries are not yet operational and the state is moving to compel them to open or risk losing their licenses.

The Medical Marijuana Commission in Arkansas is planning to meet with all the dispensary owners and marijuana growing companies to discuss and determine whether their licenses should be extended for another year. There are 32 dispensary operators and five cannabis growing companies.

It is one year since the first licenses were issued, and 16 dispensaries are yet to open. The companies that have not opened or made any progress may lose their licenses, the commissioners hinted.

Although voters legalized medical marijuana through the ballot back in 2016, the state has made very little progress. The licenses for medical marijuana dispensaries were issued in 2019, and the first dispensary was opened in May the same year. So far, 16 dispensaries are operational, and they have so far sold 5,000 pounds of marijuana for not less than $33 million. Arkansas residents with medical marijuana cards are about 35,000.

Many operational dispensaries are looking to start growing their own marijuana. The spokesman for the Arkansas Department of Finance and Administration, Scott Hardin, said that the dispensaries are also licensed to cultivate marijuana, but they had opted to start with the shop outlet so that they could become operational faster.

According to some business representatives, many businesses are planning to grow the amount of marijuana permitted by the state, which is 50 mature plants. The dispensaries include Acanza in Fayetteville, The ReLeaf Center in Bentonville, and The Source in Bentonville. Currently, the three businesses are buying cannabis from the three cultivation sites in the state. According to Arkansas law, dispensaries within the state may only purchase marijuana for their shops from the cultivation sites within Arkansas.

Hardin said that when the four dispensaries located in Northwest applied for their licenses, they were approved to add a cultivation location. But because the state must first inspect the cultivation location, the four dispensaries could not begin their cultivation process.

The state of Arkansas is working to establish rules and regulations for dispensaries with cultivation locations so that they can also be allowed to process their marijuana once its harvested.

Analysts believe that the entire cannabis industry, including Lexaria Biosciences Corp. (CSE: LXX) (OTCQX: LXRP), would be glad to see all licensed dispensaries open for business so that the people of Arkansas can have many options to choose from.

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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CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Places Hold on Reverse Split, Plans Entry into Regulated and Licensed Portion of Cannabis Marketplace

Sugarmade (OTCQB: SGMD) today announced that it has placed a hold on plans to complete a reverse split of its common shares. Per the update, pending a vote by its board of directors, management believes temporarily holding or canceling the reverse split may be the best future course of action. In addition, Sugarmade announced its planned entry into the regulated and licensed portion of the cannabis marketplace, with an emphasis on the California distribution and retail sectors. “For at least the time being, we do not see a reason to move forward with the reverse stock split. However, we reserve the right, should circumstances warrant, to reactivate the reverse,” Sugarmade CEO Jimmy Chan said in the news release. “We are in the process of modifying our business strategy to better align with where the cannabis marketplace is headed and thus our cancellation of the previously proposed transaction. We see significantly larger opportunities in the California cannabis distribution arena and have entered into advanced talks to make a strategic move into this area.”

To view the full press release, visit http://cnw.fm/sn0Ez

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. 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

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

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

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Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.