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

CBDNewsBreaks – HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) Holds Favorable Market Position as U.S. Hemp-Based CBD Sales Expected to Reach $22 Billion by 2022

HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF), a hemp-biomass processing entity, is positioned to profit following major investments and acquisitions in the quickly expanding cannabidiol (“CBD”) and cannabinoid market. An article discussing the company reads, “As a developer of proprietary gas, liquid and biomass extraction systems that are designed for the extraction of gas, liquids and biomass, and the distillation and purification of ethanol and ethanol-based solvents used for this extraction, HTC Extraction Systems has a highly positive outlook when it comes to CBD market expansion, with major investments in the acquisition of extracting, purifying and refining equipment. . . . Demand for cannabinoids is growing constantly and, given that cannabis is still a Schedule 1 drug according to the federal government, extraction from cannabis comes with certain legal risks. To avoid legal issues, many companies, including HTC Extraction Systems, focus their efforts on extracting cannabinoids from hemp. This has led to the fast expansion of the hemp industry and especially of the hemp-derived CBD market. According to industry analyst Brightfield Group research, U.S. sales of hemp-based CBD products are projected to reach $22 billion by 2022, up from $591 million in 2018. This is equivalent to a CAGR of 147% (http://cnw.fm/oCrb7).”

To view the full article, visit http://cnw.fm/67EPg

About HTC Extraction Systems

HTC Extraction Systems has developed and optimized proprietary technologies designed for biomass extraction, distillation and purification of ethanol and ethanol-based solvents used for the hemp-biomass and cannabidiol (“CBD”) industry as well as gas and liquid extraction. HTC’s extraction and purification systems are engineered to large scale to reduce capital and operating costs while delivering superior performance measured by reduced energy usage, lowered emissions and improved quality of the product produced. For more information, visit the company’s website at www.HTCExtraction.com.

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

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 – MCTC Holdings Inc. (MCTC) Expanding Development of Cannabis Infusion Technologies

MCTC Holdings (OTC: MCTC), doing business as Cannabis Global Inc., is a company devoted to research and development of innovative infusion technologies in the rapidly expanding sector of cannabinoids sciences. A recent article discussing the company reads, “Since MCTC Holdings reorganized itself in June, the company has focused its corporate efforts on the fast-growing cannabis industry, specifically the development of products that build on proprietary research into exotic cannabinoid isolation, bioenhancement of cannabinoids and polymeric solid nanoparticles and nanofibers that can be added into consumer products and applied through the skin. . . . ‘The polymer-based nanoparticles being developed by MCTC significantly differ from the simple oil-in-water nanoemulsions being marketed as interim solutions for the food and beverage industry,’ the company stated in a press release (http://cnw.fm/MV8Ao). ‘The polymer-based particles the company is developing will allow for significant loading of active ingredients and unparalleled flexibility in creating custom cannabinoid combinations with unique performance characteristics.’”

To view the full article, visit http://cnw.fm/u459K

About MCTC Holdings Inc.

MCTC Holdings, doing business as Cannabis Global Inc., is focused on delivering long-term shareholder growth and results. The company invests with confidence and determination to be at the forefront of the cannabis and CBD revolution. 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 CannabisNewsWire

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

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420 with CNW – What is the Shelf Life of Cannabis Edibles?

Marijuana edibles give the consumers a good buzz minus the risks associated with smoking or vaping the products, regardless of whether you bought them at a dispensary or made them in your kitchen. Most of these products have an expiry date printed on the packaging or an attached sticker. This means that it is unhealthy and unsafe to consume these products past their expiry date. It is, however, uncertain if the expired products can still get you high.

A number of top-rated manufacturers of marijuana-infused foods have provided some information on the shelf life of homemade and packed edibles so that consumers can get some needed answers about the potency and safety of expired cannabis edibles.

A certified chef de cuisine and master chocolatier, Scott Van Rixel, says that the most critical factor of infused marijuana products apart from the expiration date is the edibles’ shelf life. Rixel is also the founder of Bhang Corporation, which manufactures marijuana edibles.

Rixel further said that the shelf life of an edible is attributed to the fact that it is a food product rather than the fact that it is infused with marijuana. All consumable food products, including those that aren’t infused with marijuana, are made of perishable ingredients that go bad with time and depending on the environmental conditions. Therefore, you may find marijuana-infused products getting stale or going rancid, just like any other non-infused food products.

The CEO of Wana Brands, Nancy Whiteman, said that product packaging and the method used in adding THC to the products could also impact the edibles’ shelf life.

Marijuana experts say that the THC in the infused product would not be destroyed; however, the methods used to mix THC, and the food products, determine its potency.

Research carried out by Wana Brands found that their company’s edible products do not lose their potency over time, said Whiteman. She further explained that they conducted research on their edibles at intervals of six months, nine months, and one year and found that the change in potency is not significant.

However, the process of manufacturing edibles can lead to loss of potency in some products over time, said Ron Silver. Silver is the founder and Chief creative officer at Azuca, a marijuana edibles company. Silver further explained that the thick nature of marijuana oil contributes to the shelf instability of marijuana edibles.

Marijuana oil that is not emulsified correctly separates from the food products, and it is left behind on the surface of the packaging, meaning that you do not ingest all the THC in your edible. Azuca has developed a process that makes cannabinoid molecules water soluble, making it easy for them to be absorbed. This helps to stabilize the edibles.

Although the expired products are still potent, the choice on whether to go ahead and consume that potent and expired edible depends on the food that was infused and the extent of possible harm the expired food ingredients can inflict. Furthermore, the experience of consuming an expired marijuana edible will not be as pleasurable as with a non-expired edible.

Silver further said that more research is needed to determine and understand the stability of marijuana cannabinoids with certain foods, and their interaction with the body’s metabolism. It would also be essential to find out how sick expired marijuana edibles can make a person.

Proper storage of marijuana edibles prolongs their freshness, and perishable foods such as eggs and dairy should be refrigerated. The temperature in the packaging of gummies should be controlled and they should be kept away from light.

Each marijuana product, especially edibles, is different and that is probably the reason why marijuana sector players like Neutra Corp. (OTC: NTRR) and HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) emphasize that customers adhere to the usage and storage instructions provided by the manufacturer.

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 – Canadians Consume 100 Tons of Recreational Weed in First Year of Retail Sales

Data from Health Canada shows that Canadians purchased about 100 tonnes of legal adult-use marijuana within the first year of legalization and that the level of available stock continues to increase.

According to the monthly Marijuana Tracking System from Health Canada, the dried flower marijuana sold in Canada within its first year of legalization amounted to 88,676 kilograms. The overall sale of dried buds has tripled since October 2018.

Data from Health Canada further showed that at the end of September, the finished and unfinished dried marijuana inventory held by farmers, processors, distributors, and retailers amounted to 380,666 kilograms, which is about 32.5 times the quantity of total stock sold within the month of September. At the end of September, the data showed that there were about 64,151 kilograms of finished dried marijuana products in inventory, which has been going up by 5 percent every month. This suggests that a significant amount of legal pot inventory is yet to reach the retailers as the wholesalers hold it.

Within the same year, the recreational market sold a total of 46,056 liters of marijuana oil, which is an equivalent of 9,211 kilograms of dried bud. This brings up the total quantity of dried buds to about 97,887 kilograms sold to the legal recreational market.

The amount sold in the legal recreational markets is less than the quantity projected by Canadian analysts, and it is a sign that the black market demand still outpaces legal marijuana sales. In the Middle of 2018, John Zamparo, an analyst with CIBC World Markets, said that the recreational market in Canada would sell approximately 400,000kgs of legal weed annually while the Bank of Nova Scotia predicted that the total amount of marijuana to be sold this year in Canada would be 900,000kgs. These figures show that lega sales are still way below the potential of the legal recreational marijuana industry, and a possible indicator that the rest of the projected demand is being met by illicit sellers.

The data from Health Canada also showed that by the end of September, there was a total of 1,781,106 square meters of active marijuana cultivation area in Canada. This is an increase from the previous year’s 452,896 square meters of cannabis cultivation area. By the end of the first year of marijuana legalization in Canada, the farmers had planted about five million marijuana plants, and compared to last October, it is a four-fold increase.

On Tuesday last week, Statistics Canada showed that in the third quarter of the year, Canadian households spent a total of $1.27 billion on weed, with $860 million of the total sales were from the black market. The estimated sales from the legal marijuana market total were $417 million.

Experts wonder what recommendations weed companies like The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) and SinglePoint Inc. (OTCQB: SING) have for wiping out the marijuana black market that is exposing consumers to the risks associated with untested products.

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CBDNewsBreaks – No Borders Inc. (NBDR) Launches CBD LabChain Blockchain Platform

No Borders (OTC: NBDR) has developed a revolutionary platform — CBD LabChain — designed to securely and immutably record cannabinoid lab-test data on its new blockchain-based certification platform. CBD LabChain was launched at Blockchain Expo 2019 in November. An article discussing the company reads, “The CBD LabChain platform was built to respond to two crucial consumer concerns: that consumption of a CBD product produces a positive result in an employment drug test and the uncertainty that CBD products contain their stated amount of the cannabinoid. The CBD LabChain platform was developed after extensive research and customer trials as teams from No Borders Naturals traveled coast to coast, sharing the company’s premium line of cannabinoid wellness products with more than 25,000 consumers and then assessing the results. . . . The CBD LabChain platform records and stores tetrahydrocannabinol (THC), cannabidiol (CBD) and other lab-test data variants and makes those results easily accessible via QR code and batch number linkage. Additionally, products that use CBD LabChain are offered a ‘Results Guaranteed with Blockchain’ icon that can be directly integrated into individual product labels.”

To view the full article, visit http://cnw.fm/2Cchv

About No Borders Inc.

No Borders (OTC: NBDR) is a multifaceted corporation specializing in the acquisition, creation and scaling of commercial and consumer products by utilizing cutting-edge technologies to reduce costs while increasing revenues and shareholder value through technological superiority across its portfolio of assets. The company’s portfolio of brands includes:

No Borders Naturals Inc., a purveyor of health and wellness products for active consumers and their pets.
No Borders Dental Resources Inc., a provider of equipment and supplies to medical and dental professionals across the United States through the trade name MediDent Supplies (MediDentsupplies.com).
No Borders Labs Inc., which provides leading-edge tech tools to NBDR internal companies while also offering consulting, architecture and software development services to external businesses looking to update their technology infrastructure for greater efficiency, security and transparency (NoBordersLabs.com).
CBDLabChain.com, which is a powerful tool to demonstrate in an unbiased and unchangeable way a clear sense of security to consumers of CBD products by recording Certificate of Authority (COA) on a blockchain-technology platform. With a goal to provide consumers with peace of mind, No Borders Labs designed CBD LabChain to record THC, CBD and other lab-test data variants with those results easily accessible via QR code linkage as well as a clear “Results Guaranteed with Blockchain” icon, which can be integrated directly into individual product labels.

No Borders is headquartered in Arizona with resources in the United States, South America, Asia and Europe. For more information, visit the company’s website at www.NBDR.co.

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

About CBDWire

CBDWire (CBDW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CBDNewsBreaks 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, CBDW 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. CBDW 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, CBDW brings its clients unparalleled visibility, recognition and brand awareness. CBDW is where news, content and information converge.

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CannabisNewsBreaks – WeedMD Inc. (TSX.V: WMD) (OTCQX: WDDMF) (FSE: 4WE) Acquires Starseed Holdings Inc., Secures $25M Strategic Equity Investment by LPF

WeedMD (TSX.V: WMD) (OTCQX: WDDMF) (FSE: 4WE), a federally-licensed producer and distributor of medical-grade cannabis, and Starseed Holdings Inc., a medically-focused, federally-licensed cannabis company, on Monday announced the closing of the previously disclosed acquisition of Starseed Holdings by WeedMD. According to the update, WeedMD also completed, concurrent with the closing, the previously announced private placement of subscription receipts with the LiUNA Pension Fund of Central and Eastern Canada (“LPF”), for aggregate gross proceeds of $25 million. “We officially welcome the Starseed team to the WeedMD family which together will kick-off 2020 as a very compelling, vertically-integrated cannabis company that will execute across the entire value chain,” WeedMD CEO Keith Merker said in the news release. “Starseed’s unique medical distribution platform complements WeedMD’s high-quality cultivation and processing platform. This partnership, along with the $25 million strategic equity investment by LPF, positions WeedMD and its shareholders with a fortified balance sheet and one of the most captive medical cannabis businesses in the country as we enter the new year.”

To view the full press release, visit http://cnw.fm/d0CFf

About WeedMD Inc.

WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations in Bowmanville, Ontario, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with other employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold. For more information, visit www.WeedMD.com.

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 – BevCanna Enterprises Inc. (CSE: BEV) (OTC: BVNNF) (FSE: 7BC) Announces Expansion of Outdoor Cannabis Cultivation Site to Nearly 300 Acres

BevCanna Enterprises (CSE: BEV) (OTC: BVNNF) (FSE: 7BC) today announced that is has increased the size of its outdoor cannabis cultivation site to 292 acres, up from the originally announced 130-acre site. According to the update, the company has partnered with agricultural experts Clearwater CannGrow Ltd. to grow certified organic sun-grown cannabis on the property near Osoyoos, British Columbia, and the expansion will allow BevCanna to develop into one of Canada’s largest outdoor cannabis cultivators. “Interest in our BC sun grown cannabis has been exceptionally strong, and we’re expanding our cultivation and production capabilities to meet the anticipated demand,” BevCanna Chief Strategy Officer John Campbell said in the news release. “The increased capacity will position BevCanna well to become a leader in the production of high-quality, next-generation products, in the lead-up to Canada’s commercialization of such products in 2020.”

To view the full press release, visit http://cnw.fm/HV2Wz

About BevCanna Enterprises Inc.

BevCanna Enterprises Inc. (CSE: BEV) (OTC: BVNNF) (FSE: 7BC) develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 292-acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 72M bottles. For more information, visit the company’s website at www.BevCanna.com.

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420 with CNW – Chicago Mayor Wants Marijuana Consumption Allowed in Some Public Places

On Wednesday, Chicago Mayor Lori Lightfoot introduced a proposed ordinance that would allow licensing of marijuana consumption sites that are safe and legal. This is an effort by the mayor’s office to expand the economic opportunities presented by the ever-growing marijuana industry across the city of Chicago by bringing in more entrepreneurs.

Illinois lawmakers approved the bill legalizing recreational marijuana which was later signed into law by the Democratic Governor J.B. Pritzker. Adult-use marijuana will be legal in Chicago as from January 1.

In a public statement, Lightfoot said that the city of Chicago is preparing for legalization ahead of the launch date by working together with the state to make sure that legalization will be implemented in a safe, responsible way and that it offers optimal opportunities for the residents of Chicago as well as businesses. The legalization of adult-use marijuana will provide a chance for more entrepreneurs to participate in the marijuana industry including those who have been affected by the war against drugs. The bill will also present the people of Chicago with safe marijuana consumption sites.

According to the proposal introduced by the Mayor, businesses operating specialty cigar outlets, such as cigar shops or hookah lounges, would be eligible to apply for marijuana consumption site permits. The consumption sites licenses allowing people to use marijuana on the premises would be issued by the Department of Business Affairs and Consumer Protection (BACP). The consumption permits would be granted to businesses deriving at least 80 percent of their proceeds from tobacco-based products.

The BACP Commissioner Rosa Escareno said that entrepreneurs looking to venture in the new business of adult-use marijuana consumption sites have an opportunity to participate through the Chicago consumption licensing program which has a robust regulatory system. Escareno further said that they are excited to be taking the first step in developing regulations that provide entrepreneurs with more economic opportunities while ensuring that the public has safe places where they can use cannabis responsibly.

The specialty tobacco businesses must fulfill several requirements before they can be issued with permits. For example, they must be in a standalone structure that is well ventilated. The companies must also establish a safety plan that is approved by the city, and also educate their staff on safe marijuana consumption. The business owners must also note that businesses located in areas that are excluded from conducting marijuana business, which covers the greatest section of the downtown area and Magnificent Mile, would not be granted licenses.

The businesses authorized for onsite marijuana consumption are not allowed to serve alcohol, and the customers are also not allowed to bring their own. The companies are to be located at a minimum distance of 500 feet from schools and other outlets licensed for marijuana consumption.

The proposed ordinance would make sure that small businesses benefit from the legal marijuana industry, said the executive director of Chicago NORML, Edie Moore.

In the coming year, Lightfoot’s administration is expected to develop a new proposal that would issue onsite consumption licenses to licensed marijuana dispensaries.

Industry watchers believe that it is this type of progressive policy making that many marijuana companies, such as VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and MCTC Holdings Inc. (OTC: MCTC), would like to see because it is strange tosee that people can buy weed in many jurisdictions but they aren’t allowed to consume it anywhere else apart from within the privacy of their homes.

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420 with CNW – Michigan Retailers Sell Recreational Weed Worth $3M in First Two Weeks

It is the second week of marijuana sales in Michigan, and although the lines are not long, and the sales have reduced, the adult-use marijuana business remains brisk.

Reports from the Marijuana Regulatory Agency in Michigan show that the few numbers of retail marijuana outlets selling recreational marijuana have been able to collect a total of $3.1 million in sales so far.

The businesses located in Ann Arbor were able to collect $1.6 million in sales during the first week of recreational marijuana sales, which took place between December 1-8. During the second week of recreational cannabis sales, which was between Dec. 9 and 15, the shoppers spent approximately $1.4 in weed purchases.

Within the two weeks of sales, the state of Michigan collected a total of $515,051 in taxes, out of which sales tax is 6% while 10% is an excise tax.

According to the appropriation budget, the first $20 million generated in tax within the first two years of recreational marijuana sales is to be used in medical marijuana research. The rest of the funds are to be assigned as follows,

15% to the municipalities, townships, or villages,
15% is to be allotted to counties that have permitted the establishment of recreational weed businesses,
35% to public schools, and
35% to roads and infrastructure.

Out of 1,773 cities, townships and villages in Michigan, 1,400 of them have prohibited any recreational marijuana business in their jurisdictions.

The budget officials in Michigan are estimating that by late 2021 adult-use marijuana may become a $1.5 billion per year industry.

The state of Michigan had issued 16 licenses as of December 17, which is four more than what the Andrew Brisbo committee had projected by the new year. Brisbo is the Marijuana Regulatory Agency Director. However, most of the licensed businesses have not started operating due to delays in acquiring stock required to fill their shelves.

The only business allowed to obtain recreational marijuana businesses licenses till Dec 6, 2021, are those already operating businesses licensed under medical marijuana licensing laws.

The state allowed medical marijuana dispensaries to transfer half of the medical marijuana inventory which is older than 30 days to the recreational market.

Although some were pleased by the MRA move, some have expressed their concerns over the possible shortage of medical marijuana due to the high demand from recreational consumers.

During WKAR’s off the record, the Executive Director of Michigan Cannabis Industry Association Robin Schneider said that the state of Michigan is already experiencing a shortage of medical marijuana and the early launch of recreational sales could exacerbate the situation. He further said that there is a probability of sending patients to the black market due to lack of legal marijuana.

Speaking to MLive.com, several businesses said that they are stocking up their business before opening their doors to avoid running out of stock.

Speaking to MLive.com, the owner of Herbology Cannabis Co. in Wayne County’s River Rouge, Tarek Jawad said that he is uncertain when he will open his doors because the recreational marijuana is not enough to stock the stores. He added that he plans on placing large orders for medical marijuana so that after 30 days, he can transfer it to the recreational side.

Three of the largest licensed marijuana growers also own recreational outlets. This makes it hard for owners like Jawad to obtain recreational products.

The state also issued licenses for a testing laboratory, three recreational cannabis transportation companies, and to an event coordinator.

Experts are certain that cannabis industry actors like Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) are happy for the people of Michigan who are finally getting to enjoy the benefits, such as jobs, created by the marijuana industry.

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CannabisNewsBreaks – Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) Employs Strategic Three-Pronged Approach to Produce High-Quality Cannabis, Attain Growth

Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), a global diversified portfolio of cannabis companies, utilizes a three-pronged strategy to deliver high-quality cannabis and attain growth. This approach has cautiously steered the company through the often-chaotic cannabis industry (http://cnw.fm/25Pmr). A recent article discussing the company’s strategy reads, “First, establish foundational IP and strong core businesses. Second, create differentiated, consumer-driven products across market segments, and third, expand its consumer-centric approach to international markets. . . . Following the first component of its plan has allowed Supreme to build a strong foundation as it moves forward in a burgeoning industry. Supreme’s impressive leadership team recognizes the strong potential in Canada’s promising market. The number of new cannabis users in the country has doubled year over year, and by 2023, the legal Canadian cannabis market is forecast to reach $6.7 billion.”

To view the full article, visit http://cnw.fm/3Hcr3

About Supreme Cannabis Company Inc.

Supreme Cannabis 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 by effectively deploying capital with an emphasis on disciplined growth and high-quality products. Supreme Cannabis’ portfolio includes 7ACRES, its wholly owned subsidiary and multi-award-winning brand; Blissco, a wellness cannabis brand and a multilicensed processor and distributor based in British Columbia; Truverra Inc., a global medicinal cannabis brand and licensed cultivator; Cambium Plant Sciences, a plant genetics and cultivation IP company; Medigrow Lesotho, a cannabis oil producer located in Southern Africa; Supreme Heights, an investment platform focused on CBD brands in the United Kingdom and Europe, and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada. Supreme trades as FIRE on the Toronto Stock Exchange (TSX: FIRE), SPRWF on the OTC Exchange in the United States (OTCQX: SPRWF) and 53S1 on the Frankfurt Stock Exchange (FRA: 53S1). Follow the company on Instagram, Twitter, Facebook and YouTube. 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

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