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 – Massachusetts Regulators Vote on Cannabis Home Delivery

Marijuana regulators have reached an agreement about plans to allow the home delivery of marijuana products within the state. A vote of 4-1 was passed by the Cannabis Control Commission.

If the plan gets final approval from the commission by the end of May, the delivery of cannabis products within the state would mainly be done by people from the communities that suffered the most during the War on Drugs.

The rules pave the way for people from those disadvantaged communities to have an expedited entry into the legal cannabis industry. Under the regulatory policies, home delivery licenses would exclusively be given to people from communities which were disproportionately targeted during the enforcement of prohibitionist marijuana laws.

The program will run for 24 months after which the regulators will assess its performance before deciding whether to extend it or open the space for all who are interested to apply for licenses.

Companies that are granted home delivery licenses will be free to work for as many cannabis retailers as they can take on, but the delivery vehicles will be obliged to return to the retailer any cannabis products which aren’t sold by the end of the day.

The law by which recreational marijuana was legalized in the state stipulated that a diversity program must be implemented in order to give more people a chance to benefit from the legal marijuana industry.

The home delivery system is therefore seen as one of the ways through which broader participation in the industry can be facilitated.

Regulators hope that the target population will take advantage of the exclusivity period in order to participate in the cannabis industry because the requirements for one to get a home delivery license aren’t as stringent as those for one who wants to get a marijuana cultivation or processing license.

For example, it is harder to access the capital needed to set up a processing plant, but one can find it easier to get funds to establish a cannabis home delivery business.

Kay Doyle, one of the members of the Cannabis Control Commission, expressed concerns that the desired results may not be realized within the initial 24 months, so it was a good thing to include a provision stating that once those months elapse, a review would be conducted before a decision is made regarding the future of the empowerment program.

Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) and Golden Developing Solutions Inc. (OTC: DVLP) look forward to the time when the social equity and empowerment programs bring the people targeted into the mainstream marijuana 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.

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420 with CNW – Canada Preparing to Approve Second Cannabis Roadside Test Kit

The Canadian government is close to approving a second cannabis test set for use by law enforcement officers who suspect that a driver may be impaired by marijuana. The kit uses a sample of saliva to test for the presence of THC in the body of an individual flagged down for possible marijuana impairment.

The Department of Justice had earlier issued an order on April 20 to add the three pieces of equipment made by Abbot to the equipment that the police can use to get preliminary results when they suspect that someone is driving while impaired after consuming marijuana.

The three pieces of “SoToxa” equipment are used together during roadside cannabis testing. The first component is used to collect a saliva sample, the second component holds that sample while the third tests the saliva collected for THC (the psychoactive component of marijuana).

According to the Department of Justice in Canada, a positive test result would give a strong indication that the driver had recently used marijuana.

The law enforcement officer can then take the next step in the process, which is to arrest the driver and take a blood sample so that comprehensive drugs testing can be done before the person is charged.

The company which makes the SoToxa equipment claims that their test kit is easier to use and produces results faster than any other roadside test kit currently available on the market.

The SoToxa and other similar products have been introduced on the Canadian market after the country passed a law on impaired driving at the same time as the passing of the law which legalized recreational cannabis in Canada.

Currently, the fate of the SoToxa test kit may be in the hands of the public since the government has opened a 30-day window within which members of the public can review the equipment and provide feedback about its usefulness.

The kit will be approved once the feedback from the public is considered no serious defects are unearthed.

However, the issue of testing drivers for impaired driving still seems to be shrouded in controversy. For example, a commission in Michigan recently recommended that no THC limit should be indicated as the threshold to determine that someone is impaired. Several reasons were given, such as there being no scientific data to establish what concentration of THC in the blood results in impairment.

One would therefore be prompted to wonder upon what basis the Canadian government came up with a THC limit for one to be guilty of driving under the influence of marijuana.

Global Payout Inc. (OTC: GOHE) and Geyser Brands Inc. (TSX.V: GYSR) hope that the roadside tests will catch truly impaired drivers rather than those whose bodies still contain cannabis metabolites long after the person used marijuana.

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420 with CNW – Mexico Set to Legalize Recreational Marijuana by October

When Mexico legalized medical marijuana in June 2017, few ever imagined that the country would legalize marijuana for adult-use a couple of years later. Drug cartels have so much influence in the country that one would be led to believe that those cartels would never allow any policy that threatens their illicit business to be passed. However, the tide has turned and according to reports coming from across the border, a legal framework for the legalization of recreational cannabis will be in place by October this year.

If that plan comes to pass, Mexico will be the third country in the world to commercialize recreational marijuana after Uruguay paved the way and Canada followed suit on October 17, 2018.

The legalization of adult-use marijuana now seems to be a logical step if you consider a number of factors.

First, the hand of the legislators has been forced by the judiciary after the Supreme Court made its fifth ruling to the effect that criminalizing recreational marijuana for adults was unconstitutional.

According to Mexican law, once the Supreme Court makes five similar rulings on a matter, then all courts are obliged to take the same position on that issue. This, in effect, means that the Supreme Court indirectly “legalized” recreational marijuana and it is now up to the lawmakers to pass a law to regulate recreational marijuana in the country.

Additionally, the Supreme Court gave the government an October 2019 deadline by which an appropriate law should have been passed to regulate recreational cannabis.

Opinion polls also indicate that an overwhelming 80 percent of all Mexicans favor cannabis legalization. This is a huge tide to ignore!

The lawmakers in Mexico now plan to use their legislative recess (May 1 to August 31) to draft a law to operationalize the ruling of the highest court in the land.

Once the recess ends, the legislators will have approximately one month to debate and pass the law so that the deadline given by the Supreme Court isn’t missed.

If the bill is enacted, Mexico is likely to be a force to reckon with in the cannabis industry. Currently, Canada is seen as the dominant force, but Mexico may upstage it given the huge population difference between the two countries. Canada has approximately 37 million people while Mexico has approximately 130 million people.

The Mexican population offers a huge market for recreational cannabis, and that market will be an irresistible magnet to foreign cannabis companies eager to get a slice of that pie.

Generation Alpha Inc. (OTCQB: GNAL) and Earth Science Tech Inc. (OTCQB: ETST) hope that the legalization of marijuana in Mexico will mark the turning point for the suffering that has been visited upon the people by drug cartels in the country.

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420 with CNW – SOL Global Expands into Michigan Cannabis Industry with $150M Acquisition

On April 23, 2019, SOL Global, one of the leading medical cannabis companies in Florida, signed a binding letter of intent with Merida Capital Partners to acquire MCP Wellness, Inc., a subsidiary of Merida Capital.

The acquisition is worth $150 million, and it will see SOL Global take over the Michigan firm which is just about to acquire two licenses to cultivate cannabis as well as a license to process the cannabis and three more to dispense medical cannabis.

Additionally, MCP Wellness, Inc. has plans to establish nine provisioning (dispensing) centers by August this year if the municipalities approve their plans in time.

If all these plans go ahead as scheduled, SOL Global and Merida Capital Partners anticipate that the revenue of MCP Wellness, Inc. will exceed $61 million this year and grow to more than $121 million next calendar year (2020).

The acquisition of MCP Wellness, Inc. by SOL Global is expected to be concluded in May this year after the negotiation process, regulatory approval and other related requirements are met by both parties.

SOL Global owns a vertically integrated cannabis company in Florida called “3 Boys” through its subsidiary CannCure Investments Inc. SOL Global plans to fold MCP Wellness Inc. into 3 Boys and form a marijuana multi-state operator (MSO) called CannCure.

The letter of intent signed states that the purchase price of $150 million will not be fully paid in cash. Only $35 million will be paid in cash while the remaining $115 million will be in the form of equity in CannCure offered to Merida Capital Partners. This means that MCP will own a 42 percent stake in the new multi-state operator.

After the acquisition, the 110,000-square foot MCP Wellness Inc. cultivation facility in Michigan will be retrofitted so that CannCure can have added capacity to meet the rapidly growing demand for medical cannabis in Michigan.

Meanwhile, 3 Boys will also continue its own expansion drive within Florida. The company has already got the nod from the Office of Medical Marijuana and the Department of Health in Florida to start processing and provisioning medical marijuana products at their new facility in Indiantown, Florida.

SOL Global and Merida Capital Partners intend to spread their wings in other states as well. For example, SOL Global may soon finalize its plans to acquire a major cultivator and processer in California. Once that deal is concluded, SOL Global wants to take the multistate operator public on an exchange in Canada.

Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and ChineseInvestors.com Inc. (OTCQB: CIIX) congratulate SOL Global and Merida Capital upon the massive strides that they are taking to increase their footprint within the cannabis industry.

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420 with CNW – Cannabis Users Tend to Weigh Less, Study Finds

New research shows that people who use marijuana tend to weigh less than those who don’t. These findings run contrary to a common perception that cannabis users end up becoming obese.

The researchers took data from the National Epidemiologic Survey of Alcohol and Related Conditions and analyzed the BMI (body mass index) of 33,000 participants in the survey.

The analysis showed that out of all the cannabis users, 15 percent could be categorized as obese while the fraction of obese people among non-users of cannabis stood at 20 percent.

The data studied indicated that during the three-year period under scrutiny, all the participants registered an increase in weight. However, that increase was higher among those who didn’t use marijuana.

Granted, the weight difference between cannabis users and non-users was modest. For example, the difference was just two pounds for individuals weighing 200 pounds at the start of the research. However, that difference was observed throughout the study population.

These findings seem to suggest that people who use cannabis consistently have a lower likelihood of becoming obese over the years.

The lead author of the study, Assistant Professor Omayma Alshaarawy, wasn’t certain why those who use marijuana are less likely to become obese.

One of the possible reasons that he advances is that marijuana users may become more conscious about their eating habits due to the “munchies” associated with marijuana consumption. This behavioral factor can then explain why their weight stays in check.

Another possible reason that the researchers present is that marijuana may affect cells or receptors on cells to the extent that the tendency to gain weight is curbed. The researchers weren’t sure about the causative factor for this weight difference, so they called for more research to be done on the matter.

Alshaarawy was also quick to warn that their research should not be used as a reason for people to consume cannabis in order to manage their weight. He cautioned that the full extent of marijuana’s effects on the body hasn’t been understood yet, so people should use other methods of managing their weight instead of consuming cannabis as a weight-management technique.

For those who may be doubtful about the motivation of the researchers, remember that the study was funded by the National Institutes of Health, so there was no motivation to present marijuana in a favorable light.

Chemistree Technology Inc. (CSE: CHM) (OTCQB: CHMJF) and Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) welcome the research which will help to dispel some of the misconceptions that have surrounded cannabis for long.

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420 with CNW – Group Plans 2020 Ballot Measure to Legalize Recreational Cannabis in Montana

Coalition406, a new group in Montana, is planning to formulate a ballot measure so that residents can decide whether recreational marijuana should be legalized in the state during the 2020 elections.

In recent years, efforts to legalize adult-use marijuana have attracted growing support in the population. This support is buoyed by the increasing number of states that are either in the process or have already legalized recreational marijuana.

A poll conducted in February this year by researchers from the University of Montana found that 51 percent of all voters in the state support recreational cannabis legalization.

Coalition406 strongly believes that once recreational cannabis is legalized, thousands of people will be employed in the industry and the state will collect revenues that can help to fund education, healthcare and infrastructure projects.

Ted Dick, a campaign manager for Coalition406, announced that the group would sponsor a listening tour throughout the state in order to gather views from people regarding the plan to legalize recreational marijuana. “We want to hear from real Montanans,” he added.

Ted Dick isn’t new on the political landscape of Montana. Previously, he worked as the Executive Director of the Democratic Party in Montana. He therefore brings extensive experience in politics to this initiative to see recreational marijuana legalized.

If the initiative is to make its way onto the ballot in November 2020, at least 25,468 signatures of registered voters will have to be collected after the initiate gets the nod to proceed to the step of gathering signatures.

If the University of Montana poll is indicative of people’s current views in the state, Coalition406 will have to do a lot of work to convince more people to support the measure since the opinion poll shows that legalization currently enjoys a slim majority which can be swayed by those opposed to legalization.

Events in other states which have tried to legalize recreational marijuana also show that the objective is often easier to attain through a ballot than through legislative means.

For example, a law legalizing recreational marijuana was almost a foregone conclusion until voting on the bill was postponed after legislative leaders realized that not enough support existed in the New Jersey senate.

Similarly, the state budget was presented in New York State without including recreational marijuana, and that has cast doubt over plans to legalize recreational marijuana there during this legislative session.

Ballot measures therefore appear to be a better approach to take since the people are often ahead of their elected representatives in terms of voicing what they want. For this reason, VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) applaud Coalition406 for taking the initiative to involve voters directly in matters of legalizing recreational cannabis in Montana.

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420 with CNW – Epileptic Dogs Get Fewer Seizures When Given CBD Oil, Study Finds

A new study whose results were published in the journal Pet Behavior Science indicates that dogs with epilepsy have less frequent seizures if treated using CBD oil.

The study was small because it only followed three dogs over a period of two months while those dogs were treated with CBD oil. The research suggests that dogs respond to cannabis treatment in the same way that humans do.

The age and breed of the dogs studied varied. For example, one dog was a Labrador Retriever aged 3. This dog used to suffer an average of one epileptic seizure every month. A Papillion (aged 11) was also in the study. This particular dog suffered seizures every 2 or 3 months. The third dog was a Chihuahua aged 10. It usually suffered about two seizures every year.

During the study, the dogs were given CBD oil on an empty stomach twice each day. The findings released were based on the reports provided by the dog owners during the study period.

Two of those dog owners reported that their dogs improved during the time when they were given CBD oil. However, the owner of the Papillion reported that the dog didn’t exhibit any changes in its condition.

More specifically, the Labrador Retriever’s owner said that the dog barked less during the day and slept longer at night. The dog was also less excited when compared to other dogs that didn’t receive the CBD oil treatment. Overall, the owner was convinced that the dog improved after taking the CBD oil.

Similarly, the owner of the Chihuahua reported that the dog was less aggressive towards familiar people (the owner’s kids, for example) during the time when it was receiving CBD oil. The seizure-like behavior also reduced slightly during treatment.

The researchers revealed that it wasn’t clear whether CBD oil works in the same way to treat epilepsy in dogs as it does in humans. They opined that it is possible that by alleviating anxiety, CBD oil could reduce the frequency of epileptic seizures in both humans and dogs.

They called for more research to understand the neurobiological mechanisms through which CBD oil treatments triggered therapeutic effects.

There is a growing body of research showing that dogs can be treated effectively for various conditions using CBD oil. For example, one study last year found that CBD oil can trigger improvements in the symptoms of osteoarthritis in dogs.

Therma Bright, Inc. (TSX.V: THRM) (OTC: THRBF) and TransCanna Holdings Inc. (CSE: TCAN) urge all dog owners to use these research findings as a basis to talk to vets about alternative treatments for their dogs instead of being restricted to the conventional treatments alone.

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Untapped Cannabis Market Offers Spectacular Growth Opportunities

CannabisNewsWire Editorial Coverage: The explosive growth recently seen in the cannabis industry presents a rare chance for savvy companies to profit in a virtually untapped market.

Legal marijuana market projected to reach $146.4 billion.
United States and Canada current epicenter of cannabis growth.
Brand recognition and retail reach imperative for market share.

The cannabis bonanza has created a rare window of opportunity for companies that are able to capture market share and create long-term success. Brand recognition and retail reach look to be key to obtaining these lucrative rewards. Shortly after posting its tenth consecutive quarter of increased revenues, Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN) (WLDFF Profile) announced intentions to further expand its footprint with the acquisition of premier licensed cannabis retailer, City Cannabis Corp. A finalized accretive acquisition will add significant revenues to Wildflower, providing access to several valuable cannabis licenses in lucrative premium locations. Other companies in the sector are also looking to grow in the market through a variety of promising ways. Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) announced it has entered into a binding letter agreement with Hempco Food and Fiber Inc. to acquire all of the issued and outstanding common shares of Hempco not already owned by Aurora. Green Thumb Industries Inc. (OTCQX: GTBIF) (CSE: GTII) has closed on the acquisition of Los Angeles-based For Success Holding Company, the creator of Beboe branded cannabis products. Acreage Holdings Inc. (OTCQX: ACRGF) (CSE: ACRG) announced that it has entered into a definitive arrangement agreement that grants Canopy Growth the right to acquire 100% of its shares. And as part of its strategy to become a multistate operator, Choom Holdings Inc. (OTCQB: CHOOF) (CSE: CHOO) (CHOOF Profile) has signed a letter of intent to purchase a 95% equity interest in a Florida-based vertically integrated cannabis applicant.

To view an infographic of this editorial, click here.

Extraordinary Market Development

The extraordinary development of the cannabis industry can be tied at least in part to a wave of public support that has turned into overwhelming acceptance. Fifteen years ago, only a third of Americans were in favor of federal legalization of marijuana. Today, an estimated two-thirds of Americans support legalization, up from only 54% two years ago. Among adults under age 35, a whopping 85% favor federal legalization. Public acceptance gained so much momentum so fast that the cannabis industry is struggling to meet the demand. As the cannabis industry and markets mature, acquisition and consolidation announcements have become almost daily occurrences.

The global legal marijuana market, valued at $9.3 billion in 2016, is expected to reach $146.4 billion by the end of 2025, an incredible 16-fold increase over nine years. Legal cannabis markets are still relatively new, and the market is nowhere near its total sales potential. An estimated 272 million global consumers use cannabis, equivalent to only about 4% of the world’s population. Staggering increases in those numbers appear to be all but certain. Perhaps nowhere is this hyper-growth more spectacular than North America. Wall Street’s top cannabis analyst forecasts the U.S. market to grow to $80 billion by 2030 assuming national availability.

Center for Growth

Cannabis demand is even greater north of the border. The industry has been facing cannabis supply shortages ever since recreational cannabis was legalized across Canada. For example, the cannabis market in country’s westernmost province, British Columbia, registered slightly over CA$19 million in legal cannabis sales in 2018, but that number is projected expected to explode to CA$722 million in annual sales in the next five years by — a mind-boggling 37-fold increase over six years.

Pegged to soar nearly 3,700% by 2024, British Columbia is an ideal center for cannabis growth. Headquartered in the heart of this upsurge, Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN) has already staked out an enviable market position and is further expanding its retail footprint and product distribution in the province. The company announced that it intends to acquire City Cannabis Corp. in an all-stock deal.

Holding two of the three City of Vancouver licenses to sell cannabis, City Cannabis is a premier cannabis retailer and the only company with multiple licenses in British Columbia. The Letter of Intent looks to solidify Wildflower’s position as a high-profile retail outlet of premium brands generating millions in revenues right in the heart of the B.C. cannabis boom.

“City Cannabis and Wildflower are the perfect combination of premier products and a premier consumer retail experience,” said Wildflower CEO William MacLean. “City Cannabis’ retail consumer data and insight will help shape development of Wildflower’s product line-up while the retail expertise of City Cannabis will aid Wildflower in its retail expansion. The combination of Wildflower and City Cannabis will form a truly global cannabis company.”

First established in British Columbia in 2012, Wildflower now has a retail reach that extends from Vancouver to New York. Wildflower Brands is constantly expanding development, design, marketing and retail distribution of its branded products in the cannabis sector. The company launched into Washington State in 2016 and has seen consistent growth ever since.

Creating a Global Brand

Today Wildflower markets its distinctive CBD+ products to more than 300 retailers in the health and wellness sector and operates in regulated cannabis markets throughout North America in accordance with jurisdictional regulations for THC and CBD+ products. Wildflower’s unique and holistic products are developed and manufactured at the company’s U.S.-based GMP facilities, tested by a third-party lab and backed by a 100%-satisfaction guarantee.

Each Wildflower product is synergistically formulated to create a unified global wellness brand. For example, Wildflower’s highly recognized Wildflower Wellness brand offers a broad array of hemp-based, full-spectrum, CBD-infused products from vaporizers and capsules to tinctures, soaps and topicals.

The company’s King Recharge is on the cutting edge of cannabis technology and delivery systems with its King Extracts, a sleek, rechargeable vaporizer offering five popular CBD strains and a unique pocket-sized charging and storage case.

Closely associated with select hospital oncology departments, Exclusive is Wildflower’s Los Angeles-based dispensary of premium cannabis products. Wildflower already owns 14 cannabis licenses in California for recreational and medical cannabis cultivation, manufacturing, distribution, retail and delivery. Activating all these licenses could be a jackpot for the company, driving revenues while minimizing risk.

Expansion into Canada with the acquisition of City Cannabis is the next step in Wildflower’s global strategy. The thriving retail outlet, with licenses for several more locations, provides Wildflower with a high-profile presence in what may be one of the greatest growth markets in the world. Wildflower plans to market its enormously successful products through the outlet and launch into the over-the-counter market with its CBD formulations and accessories.

An Expanding Footprint

Wildflower’s U.S. presence now encompasses more than 200 retailers in Washington state and more than 20 retailers in New York City. The company partnered with Retail Worx to establish shop-in-shop retail locations in the nucleus of New York and open its first Wildflower by Bridges General store.

A clear next move for Wildflower in this partnership is a rollout into other Bridges General’s stores in New York City and San Francisco. Retail distribution in other major U.S. markets includes over 80 wellness and healthcare practitioners and an army of retail stores nationwide numbering in the hundreds. Wildflower is aggressively expanding both brand recognition and retail reach.

Wildflower continues to capture increasing market share with innovation, retail expansion and a growing family of popular brands. The company’s strategic partnerships, acquisitions and organic growth are all strengthened by the company’s focus on creating loyal consumers.

Grabbing national and celebrity attention, Wildflower used ingenious product placement during the 2019 Oscars by including its CBD+ Healing Stick in each of the gift bags of the stars, and Hollywood is embracing the product.

But Wildflower didn’t just aim for the stars. Wildflower launched an infomercial campaign in Phoenix promoting the company’s Wellness’ Cool Stick. And across the country, the company has employed an innovative pop-up store technique in SoHo, New York, to introduce its Wildflower Wellness products. To make this happen, Wildflower identified a compatible high-profile retail venue and struck a deal with the outlet, then marketed its products with fanfare in the upscale establishment for a limited time period, raising market uptake and visibility.

Clearly Wildflower seems to be on a mission to create a global cannabis enterprise. With such rapid expansion of brand recognition and retail distribution, Wildflower is firmly establishing its hold on the cannabis bonanza.

Buying Up Cannabis

And Wildflower isn’t alone in focusing on the booming cannabis business. Several market leaders have announced recent moves designed to strengthen their positions in the sector.

With its acquisition of the remaining common shares of Hempco, Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) gains low-cost, high-volume access to hemp for the extraction of CBD, a component that has been recognized for its therapeutic benefits across a wide range of medical indications and wellness applications. Aurora recognized this potential early, investing in Hempco as early as 2017. The company subsequently expanded its hemp-based infrastructure through the acquisitions of Agropro, Borela and ICC Labs.

By acquiring the Beboe product line, Green Thumb Industries Inc. (OTCQX: GTBIF) (CSE: GTII) reinforces its commitment to provide nationwide access to safe and effective cannabis. “The meticulously crafted suite of Beboe products supports the premium segment within GTI’s brand portfolio and is firmly aligned with our long-term growth strategy,” said GTI founder and CEO Ben Kovler. “Beboe has an extremely talented team, a robust innovation pipeline, an aligned vision on the future of cannabis and a ground-breaking partnership with Barneys New York. We are thrilled to have the visionary Beboe team officially on board with GTI.”

Acreage Holdings Inc.’s (OTCQX: ACRGF) CSE: ACRG) agreement with Canopy Growth gives CGC the right to acquire 100% of the shares of Acreage, with a requirement to do so when cannabis production and sale becomes federally legal in the United States. “From the first day we created our company, providing exceptional customer care and delivering shareholder value have been our top priorities,” said Acreage Holdings chairman, CEO and president Kevin Murphy. “This transaction will help accomplish both. When the right is exercised, having access to Canopy Growth’s deep resources will enable us to innovate, develop and distribute quality cannabis brands across the U.S. and continue expanding our U.S. footprint. At the same time, a confluence of factors is making it much more difficult for a multi-state operator to achieve its full potential, including the enormous amount of cash required to scale. Our Board of Directors, management team and I are pleased to deliver significantly increased liquidity to our shareholders and put ourselves in an even stronger position to deliver continued and significant upside.”

An emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, Choom Holdings Inc. (OTCQB: CHOOF) (CSE: CHOO) is looking to expand into Florida. The cannabis applicant at the heart of the company’s equity interest agreement is progressing on its master license application to operate up to 25 retail locations as well as a microprocessing and cultivation facility for medical purposes. Upon completion of the transaction, Choom will use its medical brand, Clarity Medical Centres, to create a network of branded medical marijuana treatment centers.

Some have called what is happening now in the cannabis sector a once-in-a-generation opportunity and predict that this is the start of a decade-long cannabis bull market. All indications point to those predictions being correct.

For more information on Wildflower Brands, visit Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF)

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420 with CNW – Texas Lawmakers to Vote on Cannabis Decriminalization This Week

About a month ago, the Texas House Jurisprudence Committee passed a bill that would make low-level cannabis possession a crime punishable by a fine rather than jail time. That bill is now before the House and it will be voted on this week (Thursday).

If the bill becomes law, anyone found in possession of an ounce or less of marijuana would pay a fine of $250. Such a crime would then become a Class C misdemeanor if one is caught more than twice.

Under the current law, anyone who is found with two ounces or less of marijuana can be fined a maximum of $2,000 as well as serve 180 days in jail. Whether one pays the fine or goes to jail, they remain with a permanent criminal record that can affect them for life.

While Texas is known for being conservative, there is growing consensus that cannabis laws need to be reformed, and that is why the decriminalization bill has bipartisan support. People want to see the meager public resources devoted to more serious crimes instead of using those resources to prosecute people for minor cannabis possession infractions.

This change of heart among conservative Texans has seen various bills get House Committee approval. The decriminalization bill is one of the three most notable cannabis reform bills.

The second bill that passed at committee level is a bill to legalize industrial hemp and its derivatives. This bill was passed on Tuesday this week. If it becomes law, hemp would no longer be a controlled substance in the state.

A third bill seeks to expand the medical marijuana program in the state. This bill got unanimous support when a vote was called last week. One of the changes introduced by this bill included adding more than a dozen health conditions to the list of medical marijuana qualifying conditions.

All these three bills were supported by the Republicans in those different committees. Gov. Greg Abbott, a Republican, has also promised to sign the bills once they reach his desk after getting legislative approval.

This piecemeal way of easing marijuana laws may eventually culminate in the legalization of recreational marijuana in Texas, although the Republican Party hasn’t explicitly stated that it supports legalization in the state.

Cannabis Strategic Ventures Inc. (OTC: NUGS), Youngevity International Inc. (NASDAQ: YGYI) and the entire cannabis industry welcome the incremental cannabis policy reforms being instituted in Texas. Such an approach ensures that there will be minimal friction in implementing the changes needed for Texans to benefit fully from the cannabis industry.

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420 with CNW – West Virginia Looks for Financial Institution to Handle Medical Cannabis Money

The Treasurer’s Office in West Virginia plans to issue a request for proposals (RFP) by the end of next month (May 2019) inviting interested financial institutions to submit their proposals for handling the money generated by the state from the medical cannabis industry.

These funds will include license fees, fines, taxes and other revenues accruing from medical marijuana.

Earlier this year, the legislature passed a law to expand the scope of the types of financial institutions that could express interest in handling this money from medical marijuana. Credit unions and other non-traditional banking companies are now eligible to apply.

It should be noted that the traditional financial institutions, such as banks, have been reluctant to handle any marijuana money because they fear being caught in the middle of the divergent state and federal marijuana laws.

Currently, the RFP is being reviewed by a legal team and it will be released once the any legal kinks found are sorted.

Meanwhile, the Office of Medical Cannabis is moving ahead with its plans to get ready for implementing the medical marijuana program. They would like everything to be good to go so that once a financial institution is hired, the implementation plan can start being acted upon.

For example, the process of hiring staff (cannabis inspectors, for example) has already started and will be scaled up basing on how many entities express interest and are cleared to participate in the medical cannabis industry.

The Medical Cannabis Act, which was signed into law in 2017, provides for 10 medical cannabis cultivation licenses, 10 permits for medical cannabis processing and 30 permits for cannabis dispensing.

The law also stipulates that no single entity will be given a permit to grow or process cannabis, and another permit to dispense medical cannabis. However, companies can be both growers and processors.

The Medical Cannabis Advisory Board, the entity which spearheaded the preliminary work of establishing the medical cannabis program, visited several states in order to learn how best to design West Virginia’s program. While best practices where picked from different places, the final look of West Virginia’s medical marijuana program resembles the program established in Pennsylvania.

The original plan was to start accepting license applications on July 1, but it seems this deadline will not be met. The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF), The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) and the entire cannabis industry hopes that patients in West Virginia will not have to wait for an unnecessarily long time before they can access medical cannabis to ease their symptoms.

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