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 – Bipartisan Lawmakers Urge DEA to Allow Researchers to Study Cannabis from Dispensaries

On Friday, a bipartisan coalition of legislators from the House and Senate sent a letter to the Department of Justice requesting policy amendments, which would allow researchers to use marijuana bought from state-legal dispensaries for their studies on its benefits and risks.

The legislators were led by Rep. Harley Rouda (D-CA) and Sen. Brian Schatz (D-HI). In the letter, they cited federal health agencies’ feedback where they said that research on marijuana is inhibited by the existing restrictions on cannabis. The primary challenge is that there exists only one federally-authorized facility producing research-grade marijuana.

Although the DEA said that they are in the process of authorizing more manufacturers, three years have passed since they announced approving more research-grade marijuana growers. The same agency further noted that it is in the process of developing alternative rules for licensing submitted applications.

However, the National Institute of Health and the Food and Drug Administration released a status quo report that did not address the barriers inhibiting researchers from using marijuana obtained from dispensaries for their research. The letter recommends for the agencies to allow researchers to use marijuana acquired from the state-legal dispensaries.

The legislators wrote in their letter that many states have marijuana laws and regulations in place for licensing industrial manufacturing activities and products for medical marijuana but not for research purposes, which would lead to FDA licensure.

The letter also repeatedly pointed out the lack of chemical diversity of the marijuana supplied by the federal government. One study found that marijuana obtained from a national research facility is more similar to hemp than to cannabis found in the market.

The bipartisan coalition made two recommendations; the first one is the amendment of internal policy which would allow researchers with Schedule 1 licenses to obtain marijuana-derived products from state-legal dispensaries for study. The second one is to issue guidance clarifying that DEA licenses are not a must for hemp researchers and that they can obtain hemp since it was legalized under the 2018 Farm Bill across the U.S.

The DEA is required to issue a response to the letter by December 20.

Twenty-one members of Congress signed the letter, including Senators such as Kamala Harris (D-CA), Cory Gardner (R-CO), Earl Blumenauer (D-OR), Joe Kennedy (D-MA), and Matt Gaetz (R-FL).

In a press release, Rouda said that the U.S. research laws are ancient. He also noted that 47 states have some form of marijuana legalization, and the federal agencies must ensure that there is a way to study the benefits and risks of marijuana products.

In April, Attorney General William Barr received a similar letter requesting for an increase in the number of federally-approved cannabis cultivators.

It is widely believed that letters, such as the one written by these bipartisan lawmakers, no longer excite marijuana industry members like No Borders Inc. (OTC: NBDR) and Youngevity International Inc. (NASDAQ: YGYI) since no concrete action has so far resulted from such letters.

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 – Trimming Technology to Boost the Cannabis Industry

Companies operating in the cannabis industry are in existence because of the marijuana plant, which is cultivated and harvested to manufacture marijuana products and services. The marijuana plant is harvested through trimming, a process through which the farmer separates the stem and leaves from the flower. When trimming is done correctly, the marijuana plant dries properly and the buds are highly potent and appealing to customers when taken to the market. When there are many plants to be harvested, trimming can be quite tiresome and time-consuming.

Innovators in the cannabis industry are working on developing a faster process of trimming through the use of technology, and the first discovery will garner a lot of profits since farmers are looking for a way they can harvest faster.

Hand Trimming is Rudimentary But Popular

The most popular method of trimming marijuana during the harvesting season is hand trimming, which has been in use for several years now. However, the technique is rudimentary and time-consuming.

The only technological improvement that has been made on the hand trimming equipment is the design of the scissor blade. The design enables the blade to cut through the marijuana plant easily.

The scissor blade is fitted with springs to reduce the amount of effort used when cutting, and the curve blade was adapted to enable the blade to cut into tight spaces.

Despite the improvement in the blade design, the hand trimming process is still rudimentary and time-consuming even though it is the most used method of harvesting across the globe.

Trimming Machine Technology

In the past few decades, there has been a wave of new cutting machines in the marijuana sector. The trimming process is made faster by the device since one machine does the work of several workers in a hand trimmer.

However, the downside to the machines is that they may result in a significant loss of trichomes. Another disadvantage is that many leaves may be left on the bud since the trimming mechanism is not as precise as a hand trimmer.

When trimming buds from the larger branches, trimming machine technology is very efficient, but it requires the intervention of a hand trimmer to cut the water leaves from the buds with the use of trimming scissors.

The Soft Tissues of the Marijuana Plants Make it Difficult to Trim

The marijuana plant is comprised of soft tissues, especially the buds, which are the essential parts of the plant, and this makes it challenging to use harvesting machines.

Harvesting should be done with caution to avoid dislodging trichomes, which are very delicate, from the marijuana flower.

The technology used in harvesting other crops cannot be incorporated in the marijuana sector because of the delicate nature of the marijuana plant.

Compared to other crops, marijuana plant growth is not uniform as some are tall and others short and bushy; thus, machines used for other crops cannot be used for cannabis plants. And this makes the process of designing a trimming machine for marijuana crops a little challenging.

Once such a machine is developed, it will be a revolution in the marijuana industry. Experts believe industry players like Cannabis Strategic Ventures Inc. (OTCQB: NUGS) and Dama Financial must have heard a lot of complaints from farmers who are struggling to trim their plants manually, so a mechanized solution would be welcome to all.

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CannabisNewsBreaks – SinglePoint, Inc. (SING) Secures Distributor Agreement with JTI USA, Initiating PrimeTime Little Cigars Sales at MJBIZCON

SinglePoint (OTCQB: SING) today announced it has signed on as a distributor for JTI USA, part of the JT Group of companies, a multibillion-dollar organization with presence in 130 countries. SinglePoint will begin sales and take orders for JTI’s “PrimeTime Little Cigars” during its attendance at the 2019 MJBIZCON being held at the Las Vegas Convention Center, December 11-13, at booth number C9132. “I’m excited and honored to be working with JTI to distribute PrimeTime Little Cigars… The opportunity to work with a global leader in this category is exciting and we are ready to expand Primetime’s U.S. market share with our unique experience in alternative markets. Having placed premium cigars in over 30,000 accounts, we expect this opportunity to be one of our major revenue sources in coming years, and to distribute additional JTI products as we grow this category,” SinglePoint CEO Greg Lambrecht stated in the news release.

To view the full press release, visit http://cnw.fm/GdSq0

About SinglePoint, Inc.

Founded in 2011 SinglePoint, Inc (SING) invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company portfolio currently includes solar renewables, Hemp and distribution tobacco products. SinglePoint is working to grow to a multi-national brand. For more information, visit the company’s website at www.SinglePoint.com.

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

About CannabisNewsWire

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

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CannabisNewsBreaks – Youngevity International Inc. (NASDAQ: YGYI) to Serve as Premier Sponsor, Present at the 12th Annual LD Micro Main Event; Subsidiary to Serve as Lead Sponsor of MJ Biz Con

Youngevity International (NASDAQ: YGYI), a leading omni-direct lifestyle company, this morning announced that it will be presenting at the 12th annual LD Micro Main Event on Wednesday, December 11 at 11:20 AM PST. YGYI president and CFO Dave Briskie will be presenting in front of a variety of institutional investors, family offices, and high net worth investors. In addition, Youngevity will serve as a premier sponsor of the event featuring Be the Change(TM) coffee and Josies Java House Coffee, two of the company owned brands. “LD Micro continues to be an integral part of our awareness campaign and we are proud to be a premier sponsor, once again, for this year’s Main Event,” Youngevity president and CFO Dave Briskie stated in the news release. The Youngevity presentation will be available for 90 days following the live presentation (http://cnw.fm/CaTH2).

In addition, YGYI’s wholly-owned subsidiary, Khrysos Industries, Inc., this morning announced its participation as a lead sponsor at MJ Biz Con, the largest USA-based cannabis conference, which will take place in the Las Vegas Convention Center on December 11, 12, and 13. As a sponsor, Khrysos will feature a digital marketing piece that will be played on 12 screens 48 times a day. The conference is expected to draw an attendance of over 35,000 people from more than 70 countries including 1,500 CEO’s, 8,000 industry high level executives, and an expected attendance of over 1,250 cannabis industry investors. “We are proud to be sponsoring the MJ Biz Con conference this year,” Khrysos Industries president Dwayne Dundore PhD stated in the news release. “We will have our high-speed filtration systems, our KG250 hyper supercritical Co2 extraction system, a dual flask 50L rotary evaporator with HMI, a single stage stainless steel molecular wiped film distillation system and welch pumps and various displays featuring the capabilities of our vertical operation.”

To view the full press releases, visit http://cnw.fm/K9SfV and http://cnw.fm/4nPgP

About Youngevity International, Inc.

YGYI, Inc. (NASDAQ: YGYI), is a leading omni-direct lifestyle company offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity, YGYI offers products from the eight top-selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, fashion, essential oils, photo, as well as innovative services. The company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution(R) Coffee company (now part of the company’s food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For investor information, please visit www.YGYI.com.

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

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CannabisNewsBreaks – Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) Reports 2019 Shareholder Meeting Results, Names Independent Director

Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) this morning reported the detailed voting results from its 2019 Annual and Special Meeting of Shareholders that took place on December 9, 2019 in Toronto, Ontario. Michael La Brier, Navdeep Dhaliwal, Ronald Factor, Colin Moore and Kenneth R. McKinnon were elected to the board of directors of the company to serve until the next annual meeting of shareholders, or until their successors are elected or appointed. Other results include the appointment of KPMG LLP as auditors of the company until the next annual meeting and the approval of SPRWF’s Omnibus Long-Term Incentive Plan that was detailed in its Management Information Circular dated October 28, 2019. SPRWF has filed a report that includes the results on all resolutions voted on at the meeting on www.sedar.com. In addition, the board today appointed Jackie Poriadjian-Asch to serve as an independent director. Poriadjian-Asch will bring leading consumer-facing brand expertise to the board.

To view the full press release, visit http://cnw.fm/L8r5i

About Supreme Cannabis Company

The Supreme Cannabis Company, Inc., 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 multi-licensed 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, an cannabis oil producer located in southern Africa; Supreme Heights, an investment platform focused on CBD brands in the UK 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

About CanadianCannabisWire

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

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HempNewsBreaks – Marijuana Company of America, Inc. (MCOA) to Present at 12th Annual LD Micro Main Event

Marijuana Company of America (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced that it will present at the 12th Annual LD Micro Main Event held on December 10-12, 2019 at the Luxe Sunset Boulevard Hotel in Bel Air, California. MCOA Principal Executive Officer Jesus Quintero and Director Robert Coale are scheduled to present 11:40 a.m. PT on Wednesday, December 11, 2019. The presentation will cover a corporate overview, including recent highlights, the hempSMART(TM) brand, and current developments. Coale and Quintero will also be available for one-on-one meetings with investors during the conference.

To view the full press release, visit http://cnw.fm/0RGcB

About Marijuana Company of America, Inc.

MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART(TM)” that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.

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

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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HempNewsBreaks – MCTC Holdings Inc. (MCTC) Reports Positive Results from Hemp Extract-Based Alcohol Replacement Technology Testing

MCTC Holdings (OTC: MCTC), a science-forward, intellectual-property-focused company developing unique hemp-infusion technologies, this morning reported alcohol replacement technology test results for its Hemp You Can Feel(TM) technology, a groundbreaking hemp-based infusion intended as a replacement for alcohol in many beverages. MCTC announced separate test results on three new infusions, the Hemp You Can Feel(TM) technology in powder form, in a liquid concentrate form and in a premixed nonalcoholic cocktail formulation. In industry standard high-performance liquid chromatography (“HPLC”)-based potency testing conducted by licensed independent laboratories, hemp extract and cannabinoid levels were undetectable for all three preparations. Additional analysis intended to reveal other similar compounds showed zero presence as well. The company intends to use this technology as the basis for upcoming products and plans to license the technology and “white label” manufacture products in its licensed Los Angeles facility, as appropriate. “Our next step is to create microparticles and nanoparticles of Hemp You Can Feel(TM) utilizing our patent-pending particle creation process. We think these new microparticle and nanoparticle technologies could prove very useful for advanced food and beverage infusion. We believe this additional area of research is especially topical considering the recent warnings put forth by the U.S. Food and Drug Administration concerning the use of CBD in foods and beverages,” MCTC Holdings CEO Arman Tabatabaei stated in the news release.

To view the full press release, visit http://cnw.fm/Na5Z4

About MCTC Holdings, Inc.

MCTC Holdings, Inc. (d/b/a: Cannabis Global) is a Delaware registered, fully reporting and audited publicly traded company. With the hemp and cannabis industries moving very quickly and with a growing number of market entrants, MCTC plans to concentrate its efforts on the middle portions of the hemp and cannabis value chain. The company plans to actively pursue R&D programs and productization for exotic cannabinoid isolation, bioenhancement of cannabinoids and polymeric solid nanoparticles and nanofibers for addition into consumer products and for dermal application. The company was reorganized during June of 2019 and announced its intent to enter the fast-growing cannabis sector and its intent to change its corporate identity to Cannabis Global, Inc. The company is headed and managed by a group of highly experienced cannabis industry pioneers and entrepreneurs. For more information, visit the company’s website at www.CannabisGlobalinc.com.

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

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420 with CNW – Huge Demand Forces Michigan Recreational Weed Retailers to Impose Purchase Limits

In Michigan, recreational marijuana business is booming. On Wednesday, a recorded message from Arbors Wellness in Ann Arbor said that currently, the shop has a high number of customers, which is keeping them extra busy and they are therefore unable to answer calls. The overwhelming demand has even led to purchase limits being imposed by the retailers.

The sale of recreational marijuana in Michigan was launched on December 1 and since then, demand has been so high that businesses were forced to turn away customers at some point. On the first day of recreational sales, four shops generated an average of $221,000.

On Wednesday, Arbor Wellness owner, James Daly, said that they had a line of customers all day and that they are working through the lines professionally with a wait time of approximately 40 minutes.

Greenstone Provisions in Ann Arbor employees said that by 1 pm on Wednesday, the wait time to get served was about 2-hours. While on Tuesday, customers had to wait for 3 to 4-hours before getting served at Exclusive Brand’s dispensary in Ann Arbor.

Michigan Supply and Provisions in Morenci, located along the border with Ohio, is having a steady flow of customers; however, on Wednesday afternoon, no customers were waiting in line to be served.

On Sunday and Monday, Greenstone Provisions had to turn away hundreds of potential customers because it had run out of stock of marijuana buds. Since then, the retail outlets made a point of restocking daily.

Marijuana shops have been forced to institute a purchase cap on the amount of marijuana each individual is supposed to buy because of the massive demand. Greenstone Provisions, Michigan Supply, and Provisions in Morenci have instituted a sale limit of 7 grams of marijuana flower per person.

Arbor Wellness’ sale limit is 1/8 of an ounce of flower. They also have a purchase limit of two edibles, seven pre-rolled joints, and 15 vaping cartridges.

The only dispensary that did not institute purchasing caps is Exclusive Brands. On Wednesday, Omar Hishmesh, Exclusive Brands co-owner, said that they are not putting any sale limit since they are not going to run out of stock. He further noted that they are fully stocked and are actively re-stocking products; thus, no shortages.

According to Michigan laws, the sale limit for the flower is 2.5 ounces, which includes a maximum of 15 grams of concentrate.

In-store inventory is moving like a hotcake, which makes real-time resupplying difficult; however, business owners still insist product shortages will not happen any time soon.

Currently, there are three licensed recreational marijuana processing plants and one licensed transportation business in Michigan.

Greenstone Provisions and Michigan Supply and Provisions inventory is at the mercy of their competition since the three licensed processing facilities are owned by their competitors. The three facilities are owned by Exclusive Brands, Arbor Wellness, and Green Peak. Green Peak is the largest processing facility in Michigan, and it is planning on establishing retail locations across the state.

It would be interesting to hear what cannabis companies, such as Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) and Grapefruit Boulevard Investments Inc. (OTCQB: IGNG), have to say about how things are looking up for the industry in Michigan.

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420 with CNW – Michael Bloomberg Now Supports Marijuana Decriminalization

Former New York Mayor Michael Bloomberg is a Democratic presidential candidate who has been outspoken against marijuana law reforms but is now in favor of decriminalizing marijuana possession.

On November 24, Bloomberg launched a late bid for the Democratic presidential nomination; however, he faced criticism for making dismissive remarks earlier in the year about cannabis legalization when he said that the policy change is the stupidest thing anybody has ever done.

On Wednesday, the Wall Street Journal reported that Bloomberg is in support of criminal justice reform for the decriminalization of simple marijuana possession and states’ right to end prohibition without intervention from the federal authorities. This shows that he is trying to distance himself from the anti-marijuana image he previously had.

Speaking to the Wall Street Journal, Bloomberg said that no one’s life should be ruined through incarceration for marijuana possession. He also noted that his reform efforts reduced imprisonment by 40% and that he worked hard to get New York laws changed to stop simple possession arrests. Bloomberg further said that he believes in decriminalization and that the states which have legalized marijuana should not be subjected to federal interference.

In 2011, Bloomberg vetoed a New York bill whose purpose was to treat simple marijuana possession with a court summons and fine instead of incarceration; however, two years later, he supported the legislation seeking to reduce criminal punishments for low-level cannabis possession. Bloomberg also called for alterations in the way law enforcement handle such cases.

The majority of the Democratic presidential candidates would be several steps ahead of Bloomberg even after he incorporates the proposal for decriminalizing marijuana possession in his policies because almost all Democratic candidates are in favor of comprehensive marijuana legalization and removal of cannabis from Schedule 1 of the Controlled Substances Act. This change would ensure that the legal marijuana industry is socially equitable.

Former Vice President, Joe Biden, is another presidential candidate who is against marijuana legalization. However, he has voiced his support for decriminalization, medical cannabis legalization, and modest federal rescheduling. But, he has vetoed legalization of adult-use marijuana.

Both Biden and Bloomberg made some negative remarks on marijuana reforms that received criticism. Earlier this year, Biden said that he does not support broad marijuana reforms as it could act as a gateway to harmful drugs. Bloomberg also noted that legalization is perhaps the stupidest thing ever done and that it doe not make any sense.

Although both candidates are now in support of decriminalization, other candidates such as Pete Buttigieg and Tulsi Gabbard are supporting the decriminalization of all drugs, while Julian Castro is considering broad marijuana reform.

Analysts believe marijuana companies like Neutra Corp. (OTC: NTRR) and Hemptown USA are following these policy discussions closely because the coming elections could decide how marijuana policy reform plays out.

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HempNewsBreaks – Marijuana Company of America, Inc. (MCOA) Announces Changes in Corporate Leadership, Vertical Expansion Strategy

Marijuana Company of America (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced the resignation of Donald J. Steinberg as chairman of the board, chief executive officer and treasurer. According to the update, the Company’s new focus will be to enter strategic acquisitions with various operational cannabis and hemp companies that are distressed in order to expand its vertical model, as well as expand its hempSMART(TM) branded product lines and marketing channels and launch other CBD brands using a direct-to-consumer sales approach. “It has been an honor to lead the Company these past four years and to serve the customers, stakeholders, and staff who have been part of the foundation of the Company,” Steinberg, one of MCOA’s founders, said in the news release. “I am proud of what we have accomplished as a team thus far and know that the Company will continue to grow its presence in the cannabis industry. Also, I am positive that the Company will create additional innovative ideas and pioneering technologies for its customers and stakeholders worldwide and make the right corporate maneuvers and strategic acquisitions to establish meaningful scale in the industry. As many of you know, one of my passions is the development of start-up ventures. I believe in the future of the cannabis marketplace and greatly desire to be a part of advancing the innumerable opportunities that are yet to be discovered. For this reason, I have decided to step down as CEO to allow the Company to pursue new groundbreaking opportunities under new leadership.”

To view the full press release, visit http://cnw.fm/Z6Xp3

About Marijuana Company of America, Inc.

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

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