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 Bill Seeks to Protect Federal Workers Who Use Marijuana

A bipartisan bill introduced in Congress last week (March 12) seeks to shield federal employees from being fired once they test positive for marijuana.

The bill, introduced by Reps. Don Young (R-AK) and Charlie Crist (D-FL), is intended to clarify that federal workers who consume cannabis in states where it is legal cannot be held liable under federal law for testing positive for the substance.

Currently, federal employees can be summarily fired or denied a job if they test positive for THC. This blanket action happens regardless of state law.

Crist explains that the existing policy and law disproportionately impacts veterans because many of them have taken to medical marijuana in order to deal with various issues, such as PTSD and chronic pain. For such veterans, medical cannabis provides an alternative to harmful and addictive opioids.

Crist also notes that one third of the federal workforce is made up of veterans, and the law is unfair to this section of federal employees because they didn’t ask to suffer from the conditions that led them to use medical marijuana.

The bill wants to address the legal conflict that often puts veterans and other employees (or prospective employees) in a difficult position in which they have to choose between using medical cannabis and retaining their employment. No one should be forced to make that choice if medical cannabis is legal in the state where the person lives or works.

However, the bill doesn’t try to stop employers from conducting drugs tests and acting on the results if a person is suspected to have been intoxicated while on the job. Federal employees who require top secret clearance are also exempted from the protections outlined in this bill.

The previous version of this bill didn’t provide protections to individuals who used cannabis in conformity with the policies of Indian tribes. This present version includes such people.

The present bill also used the term “personnel action” when describing the protections offered. The inclusion of the term “personnel action” was intended to clarify that the bill should not be interpreted to mean that federal employees were protected from criminal action resulting from their use of marijuana.

It is hoped that this bill will be enacted so that talented individuals aren’t denied federal employment opportunities. Sugarmade, Inc. (OTCQB: SGMD) and Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) wish the sponsors of the bill success since their intention of protecting veterans and other federal employees is a good cause.

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 instant SMS alerts, text CANNABIS to 21000

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

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Hemp Boom Leads to Cultivation Supply Shortages

CannabisNewsWire Editorial Coverage: The growth of the hemp sector is having a beneficial effect for both hemp companies and hydroponic suppliers.

  • The growth of hemp more than doubled in the United States last year
  • More companies are moving to produce hemp, causing a surge in demand for cultivation and hydroponic supplies
  • Shortages are particularly acute relative to the hemp micropropagation and hemp cloning supplies as the spring planting season looms

Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile) via its pending acquisitions is poised to accelerate its growth rate as a result of this hemp cultivation boom, along with other leading companies. Tilray Inc. (NASDAQ: TLRY) has been expanding through the acquisition of other companies and a move into Europe, with a successful harvest in Portugal. Canopy Growth Corp. (NYSE: CGC) (TSX: WEED) is using outside investment to expand from Canada to New York and to develop CBD-infused drinks. Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) has also seen substantial outside investment thanks to growing faith in hemp. Aphria Inc. (NYSE: APHA) (TSX: APHA) has even faced a hostile takeover attempt as some companies look for ways to force their way into greater influence over a growing sector.

To view an infographic of this editorial, click here.

Hemp — The New Cash Crop

This year is set to be a record breaker for the hemp industry. The ongoing transformation of the plant’s legal status in North America is opening up possibilities for farmers, processors and retail outlets. The whole playing field is changing as the nationally legalized Canadian industry develops and the United States contemplates an agricultural future with now-legal hemp cultivation. This momentum appears to be drawing in big investors as well as industry pioneers that are intent on setting up new businesses.

The Farm Bill, which was signed into law in the United States in December, includes clauses making the farming of hemp legal on a nationwide level. Hemp doesn’t contain a significant quantity of the psychoactive chemical tetrahydrocannabinol (THC), which is present in other variations of the plant. Instead, hemp is valued for its nonpsychoactive chemical cannabidiol (CBD), which is used in a growing number of health, wellness and relaxation products. Hemp also is a source for fibers that can be used for anything from cloth to building materials. The bill therefore has made it far easier for farmers, many of whom are struggling to get by on current crop yields, to look for profits through the hemp sector.

Even before the Farm Bill’s passage, the expansion of hemp cultivation in 2018 had been staggering, growing from 25,713 to 78,176 acres spread across 23 states. Those states issued 3,546 hemp licenses in 2018, more than double the 1,456 issued in 2017. Since the law passed, states with existing hemp infrastructure have been overwhelmed with applications for licenses, and it’s clear that the growth should stay strong.

With Growth, Shortages Loom

Like any dramatic development in the economy, this emerging sector brings with it challenges and difficulties. One of these is providing the cultivation supplies that new and expanding hemp growers will need. Shortages of critical cultivation supplies, particularly relating to plant tissue micropropagation and cloning are being reported potentially threatening the plans of many farmers to get their hemp crops planted this spring. But one person’s challenge is another person’s opportunity, and in this case, the opportunity will go to companies that have prepared for the growing need for cultivation supplies.

This young hemp cultivation supplies industry is not dominated by established corporate giants, which leaves plenty of space for relative newcomers such as Sugarmade Inc. (OTCQB: SGMD), via its pending acquisitions.

Generating New Revenue Streams

Recently, Sugarmade announced its intention to acquire Sky Unlimited LLC, which is a major supplier to large commercial agricultural cultivation operations. The acquisition is anticipated to generate new revenue streams from not only large hemp growers but also from more traditional hydroponic oriented cultivators.

The acquisition of Sky Unlimited and its www.AthenaUnited.com marketing website has been almost perfectly timed to make the most of the boom hemp cultivation trend. The brands fit well with Sugarmade’s existing business, allowing the company to smoothly expand its hydroponic sales operations and better meet growing customer needs.

Profiting from Supply and Demand

Acquisitions have also been the order of the day for many hemp cultivators, allowing them to expand their operations into newly legalized spaces.

Canadian company Tilray Inc. (NASDAQ: TLRY) has been on an expansion spree, setting up Tilray Latin America SpA to reach Latin American markets, acquiring Canadian rival Natura Natural Holdings Inc., and recently adding the world’s largest hemp foods company, Manitoba Harvest, to its roster. While the Americas currently offer the largest markets for the plant, Tilray also has an eye on future markets. The company is rapidly expanding its operations in Europe.

The growth of the hemp sector has drawn interest from other industries — most notably in the form of a $4 billion investment in Canopy Growth Corp. (NYSE: CGC) (TSX: WEED) by Constellation Brands. This sees the U.S. beverage manufacturer looking for fresh markets to profit from as the two companies collaborate on developing CBD-infused drinks. One of Canada’s largest hemp cultivators, Canopy Growth has used this influx of cash to support its own expansion plans. It is spreading across the border to set up a hemp production facility in New York State. It is also bolstering hemp’s status as a health drug through work with the National Hockey League on the potential use of CBD in treating concussions.

Another of the big Canadian players, Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) has also drawn interest and investment from south of the border. The company announced March 8 that it had closed a C$2.4 billion investment from Altria, the owner of such famous brands as Marlboro and Benson & Hedges. Like the Constellation Brands investment, this move shows the wider business world’s faith in the enduring power of hemp as a consumer product and the viability of the companies producing it.

The heated competition in the hemp market is reflected in the recent attempt by Green Growth Brands to achieve a hostile takeover of cannabis company Aphria (NYSE: APHA) (TSX: APHA). A company with interests in North American, Latin America and Europe, Aphria’s board has rejected the takeover and encouraged shareholders to do the same. This reflects the company’s faith in its own value and the profit potential of the coming year.

Like other companies in the cannabis sector, Sugarmade has announced a host of acquisitions over the past year, which it is currently working to close. With these, the company holds the potential to generate up to $90 million in annualized revenues, which could make Sugarmade one of the largest suppliers in this booming industries.

For more information on Sugarmade, visit Sugarmade, Inc. (OTCQB: SGMD)

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

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CannabisNewsWire (CNW)
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

CBD Industry Soars in Wake of Farm Bill; Massive Growth Projected to Continue

CannabisNewsWire Editorial Coverage: Following the passing of the 2018 Farm Bill, CBD sales have continued their massive growth in the United States and beyond.

  • Cannabidiol (CBD), a chemical found in cannabis, has seen a huge growth in sales over the past few years.
  • CBD can be derived from hemp, and the passing of a new farm bill in the States makes this form of cultivation legal at a federal level.
  • This forms part of wider growth in the cannabis market, as companies expand their operations in North America and even beyond.

Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) (WLDFF Profile) is among the companies benefiting from this market, with an increase of more than 300 percent in online sales for its CBD products last year. Some companies are specializing in particular niches, such as The Green Organic Dutchman (OTCQX: TGODF) (TSX: TGOD) with its focus on sustainable organic plants. Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) is making moves into Europe, with cannabis oil sales in Germany and investment in a Portuguese grower. Green Growth Brands Inc. (OTCQB: GGBXF) (CSE: GGB) is launching new products and opening its own shops across the United States. And HEXO Corp. (NYSE: HEXO) (TSX: HEXO), which recently expanded from medical cannabis into the recreational space, has seen gross revenue increase more than 1,000 percent as part of this rising tide.

To view an infographic of this editorial, click here.

CBD Drives Growth for Hemp

Hemp, a plant that has long been out of the public eye, is returning to the spotlight in a big way. A non-intoxicating form of cannabis, hemp was primarily used for centuries as a natural source of fibers, which were used in cloth, rope and even building materials. Many ships in the great age of sailing relied on hemp for their riggings.

But in the sweeping anti-drug crusades of the 20th century, hemp became caught up in attacks on cannabis. Campaigners who were determined to save consumers from their own pleasures had cannabis outlawed at a time when there was little effective way of distinguishing between hemp and other forms of cannabis. No longer needed for cloth and rigging, hemp was made illegal.

Now all that has changed — nowhere more dramatically than in the United States of America.

The Farm Bill

Hemp is making a comeback thanks to the growing popularity of cannabidiol (CBD), an active ingredient found in many forms of cannabis. It’s an ingredient that companies such as Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF), a creator of plant-based health and wellness products, have been making extensive use of in recent years. Combined with other naturally occurring plant compounds, full-spectrum CBD is used in a range of Wildflower products, including capsules, topicals, soaps, tinctures and vaporizers.

Until recently, the production of CBD in the United States faced serious restrictions and uncertainties. Many states had legalized the production of cannabis in some form, either for medical or for recreational use. In addition, there were licensed trials of the cultivation of hemp, which can be rich in CBD. But all of these plants were illegal at a federal level, meaning that even with state-level approval, cultivators faced financial limitations and the threat of government action.

All that changed in December with the passage of the 2018 Farm Bill. One of a regular series of bills governing the U.S. agricultural sector, this bill removes hemp from the list of controlled substances, making it unambiguously legal for farmers to grow hemp. This changes the landscape for CBD products in the States. Companies such as Wildflower, which has already got its products into many outlets in the health and wellness sector, will be able to expand their reach even further.

States have the right to set their own rules around restricted substances, and some states have taken an unsympathetic attitude to CBD. The Farm Bill doesn’t force states to change this attitude, but there are already signs that public opinion on all levels are changing. The regulations in many states assume adherence to the federal guidelines, and some states, such as Alabama, have already softened their stance since the Farm Bill became law.

Under the Farm Bill, hemp production will be tightly regulated. Most states already have existing regulations in place, and the U.S. Department of Agriculture will be developing its own regulations as well. But for an established company such as Wildflower, which already works in California, Washington and New York, this shouldn’t be a problem. Cannabis companies are accustomed to working in a tightly controlled environment and meeting the legal standards set by state legislators, as well as the product standards required by retail outlets. In that context, working within new federal regulations shouldn’t present a significant challenge, while the existence of consistent national standards will create opportunities for growth.

CBD Demand Grows

The Farm Bill has been driven in large part by the growing demand for CBD. An obscure and seldom discussed chemical a decade ago, CBD has emerged as an important consumer product. The gradual legalization of cannabis and research into its medical effects drew attention to the fact that those benefits were not all related to THC, the psychoactive chemical that gets cannabis users high. Identified as a chemical with great potential for health and wellness, CBD has started to be marketed in its own right and is used in products such as the Wildflower Wellness line.

Public interest in CBD has grown seemingly from nowhere. Tapping into interest in both cannabis and natural remedies, and offering treatments that may succeed where others have failed, CBD sales have soared. Hemp-derived CBD alone was a $390 million market in 2018 and is expected to reach $1.3 billion by 2022. And that doesn’t even include all the CBD products derived from other forms of cannabis.

The results for producers have been staggering. Wildflower saw its online sales grow by more than 300 percent in just nine months in 2018. In response, the company opened its first New York retail store, a sure sign of a product’s popularity in an age when so many companies are shedding their brick-and-mortar presence.

Looked at globally, CBD is in even better health. The Brightfield Group has estimated that CBD’s value will reach $5.7 billion this year and $22 billion by 2022. While research on the topic is still in its infancy, there is growing evidence that CBD could be used to treat a number of ailments, including certain extreme forms of childhood epilepsy. Even the United Kingdom, a country whose government remains staunchly opposed to the legalization of cannabis, has allowed the use of a CBD drug for this purpose.

Companies producing and selling CBD products are springing up across North America, Europe and beyond. Demand is growing, especially among millennials. That’s bolstering the impressive sales of companies such as Wildflower and putting pressure on politicians to further liberalize the laws around hemp.

Making the Most of a New Market

A lot of companies are now making the most of the growing popularity of cannabis, CBD and hemp.

Given the crossover between liberal attitudes on drugs and an interest in protecting the environment, it’s hardly surprising that specialist companies have arisen that grow organic cannabis. One of these is The Green Organic Dutchman (OTCQX: TGODF) (TSX: TGOD), which announced last year that it had signed a definitive agreement to acquire 100 percent of the issued and outstanding shares of privately held HemPoland in an immediate accretive cash-and-share transaction. The move gives Green Organic Dutchman access to HemPoland’s vast distribution network, premium Cannabigold brand, and state-of-the-art hemp oil extraction technologies, as well as providing a strategic pathway into the European market for TGOD’s medical and recreational products and licensing deals.

Canada is at the forefront of cannabis legalization, as one of the early adopters of medical cannabis and the first G8 country to legalize its recreational use. As a result, the country has developed several large cannabis companies, including Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB). Aurora has an eye on the global market for cannabis and CBD, recently agreeing to acquire a 51 percent interest in a Portuguese cannabis company, as well starting sales of cannabis oil in German pharmacies.

Like Green Organic Dutchman, Green Growth Brands Inc. (OTCQB: GGBXF) (CSE: GGB) is leaning into the hippy image of cannabis through a brand that places an emphasis on health, wellness and happiness. The company is doing well with the continuing CBD craze and has recently announced the opening of CBD shops in malls in Indiana and Tennessee. The company has also formed an agreement with another company to work on CBD-infused personal care products, as CBD product ranges diversify.

A leading cannabis producer, HEXO Corp. (NYSE: HEXO) (TSX: HEXO) has expanded its interests to include the recreational as well as the medical market. Focusing on cannabis’s place in the wider market, HEXO was the first cannabis producer to join Food & Consumer Products of Canada, a group representing the Canadian food, beverage and consumer products industry. This comes as the company announced a 1,269 percent increase in gross revenue compared with the same quarter a year before, growth exceeding even the impressive performance of the wider cannabis market.

The changing legal status of CBD and the popularity of its products is just one part of a wider picture of cannabis growth, a picture that appears to be bright and promising for companies establishing a stronghold in the industry.

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

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

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

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

420 with CNW – Complaints about the Minnesota Medical Cannabis Task Force Increase

When Minnesota legalized medical cannabis in 2014, a task force was established to evaluate the medical cannabis program and report back to the state. However, numerous complaints about the operation and effectiveness of this task force have arisen.

Representatives of patients, law enforcement agencies, the medical community, lawmakers and other stakeholders make up this task force. The task force is mandated to scrutinize patient access to the medical marijuana program, the affordability of the products and any other issue connected to medical cannabis.

However, the task force appears to have been doomed right from its very inception. For example, the law establishing this entity wasn’t very clear on the exact duties of the task force.

Consequently, some of its members thought that the task force would assess the conditions that people wanted to be added to the list of qualifying conditions and then make recommendations on the same while other members didn’t think the task force had that authority.

Additionally, the composition of the task force appears not to be conducive for the group to do its work. This is because the task force has members who have divergent views about the appropriateness of having a medical cannabis program in the state.

Such divergent views of the proponents and opponents of the medical marijuana program create a lot of tension during meetings, so it is hard for the members to agree on anything.

As if the issues above weren’t bad enough, the task force rarely meets. For example, the last meeting they held was in 2017. It is nearly two years since they held a meeting!

Even the meetings that have been convened haven’t been well attended. Denis Flaherty, the ED of the Minnesota Police and Peace Officers Association, revealed as much when he decided to resign his membership on the task force.

He said that being on the task force was “a waste of my time” due to the poor attendance and the lack of impact that the meetings were having.

Because of the lack of impact by the task force, medical marijuana remains very expensive (and many patients have resorted to the black market).

These complaints about the task force haven’t gone unnoticed by the powers that be in the state. For example, Rep. Heather Edelson has drafted a bill to clarify how often the task force should meet, and the specific issues they should consider during that annual meeting.

Gov. Tim Walz also acknowledged that there were frustrations with the task force. He revealed that he was considering recreating the group into a new one that will consider the legalization of recreational marijuana in addition to assessing the medical cannabis program.

It seems there is all round consensus that something needs to be done to make the task force more useful. Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) call on all the concerned authorities to revisit the task force so that medical marijuana patients aren’t exposed to preventable inconveniences.

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 instant SMS alerts, text CANNABIS to 21000

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

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

CannabisNewsWire (CNW)
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420 with CNW – Two New Jersey Committees Voted on Marijuana Legalization Today

Two committees in the New Jersey Senate and Assembly voted on a bill to legalize recreational marijuana today (March 18). If the bill passed in both committees, then the entire House could vote on the matter as soon as March 25.

Stephen Sweeney, the Senate President, revealed that the members had received copies of the bill on Thursday last week and that the Democrats in the House have started talking to Republicans in order to get some of them to vote for the bill.

The support of some Republicans was crucial, because a number of prominent Democrats in the House were likely to vote against the bill. In order to pass, at least 21 Senators needed to vote for the bill.

The current bill is a modified form of the original version. The tax system suggested in the original version was changed so that marijuana could be taxed by weight instead of imposing an excise tax on every sale made.

The modified bill also has a provision to expunge the criminal record of individuals who were arrested or convicted for marijuana distribution. This didn’t exist in the previous version of the marijuana legalization bill.

It is this modified bill that the Senate Judiciary committee considered and voted on at 2:00 p.m. today, while the Appropriations Committee of the Assembly sat at noon today.

Marijuana proponents say they aren’t inventing marijuana. Rather, it is present in the different communities, and the social injustices committed during the so-called war on drugs also exist.

Passing the legalization bill would regulate the cannabis industry and get it out of the hands of criminal gangs. The state would earn taxes from the industry and thousands of jobs would be created. All this isn’t bad, the advocates say.

Another bill that was voted on today aims at increasing the quantity of medical cannabis that a patient can buy in the state. The bill also set in motion steps to end the imposition of excise tax on medical cannabis by 2024, in addition to legalizing marijuana edibles.

A third bill aims at making it easier for New Jersey to expunge marijuana charges from the criminal records of those who qualify under the law. For example, the mandatory time that must elapse before the charges are expunged will be reduced under this law.

This week may potentially be a turning point as far as marijuana is concerned in New Jersey. SinglePoint, Inc. (OTCQB: SING) and Sproutly Canada, Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) called for an objective assessment of the bills before voting took place. Such a sober approach will ensure that the best decisions are made on behalf of the people of New Jersey.

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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Drink Companies Prepare for the Coming of CBD Beverages

CannabisNewsWire Editorial Coverage: CBD-infused beverages look set to hit the market in a big way in 2019.

  • Cannabidiol (CBD) is widely used in health and wellness products after spectacular growth in recent years.
  • Several companies are lining up to launch CBD drinks following legal changes in the United States and Canada.
  • Integrating these new offerings into wider product lines is accelerating CBD’s race for mainstream attention.

Youngevity International Inc. (NASDAQ: YGYI) (YGYI Profile) is one of the first to launch, with a CBD coffee coming in May and a CBD water in the works. The Alkaline Water Company Inc. (NASDAQ: WTER) (TSX.V: WTER), which is constantly growing its U.S. distribution network, plans to add a CBD bottled water to its range. The New Age Beverages Corporation (NASDAQ: NBEV) is adding CBD to its line of organic cold coffees and teas. Heineken (OTCQX: HEINY) has also entered the market by developing a cannabis-infused sparkling water through Lagunitas, its U.S. craft brewer. And the biggest investment in the overall cannabis space has come from Constellation Brands Inc. (NYSE: STZ), which has invested $4 billion in a Canadian cannabis company.

To view an infographic of this editorial, click here.

Crossing the Boundary Between Two Industries

The most exciting new developments in business often come when separate trends or industries combine. For example, it was the combination of previously separate cameras, phones and portable music that brought us the smartphone, a technology that has transformed our lives. And while not every combination will be as socially disruptive as that computer in your pocket, each one brings new possibilities.

One of the hot crossover moves this year is the combination of the markets for beverages and for cannabidiol (CBD). The emergence of CBD over the past few years has transformed the cannabis space and allowed hemp producers to reach beyond their original markets. Beverages continue to be a powerful industry, in part through sporadic bursts of innovation such as the rise of energy drinks. Now one of those bursts is coming again as these two trends combine to produce CBD-infused drinks.

The Rise of CBD

In many ways, the popularity of CBD has caught businesses by surprise. Only a few years ago, it was an obscure chemical compound found in cannabis and hemp, not even the part of cannabis that got users high. Now it’s a newsworthy growth industry, with CBD products appearing on the shelves of health shops, pharmacists and vaping stores, as well as on dedicated online outlets. The trend has also led to the rise of new companies as well as investment from the likes of Youngevity International Inc. (NASDAQ: YGYI). CBD isn’t everywhere yet, but it’s feeling close.

Though it wasn’t predictable, the rise of CBD is easy enough to explain. Since cannabis legalization began in the 1990s, extensive research and development has been conducted regarding the plant. One of the results is a greater understanding of and focus on the range of chemicals found in cannabis, instead of just the high-inducing THC. As researchers started finding and reporting evidence that CBD could be beneficial for health and wellness, a gold rush began.

One of the big advantages of CBD, especially for an omnidirectional lifestyle company such as Youngevity, is that it can establish a strong presence in markets that THC can’t reach. Shops that don’t sell cannabis are sometimes willing to stock CBD-infused products. Some jurisdictions allow the sale of CBD but not cannabis. With the cannabis space gaining momentum, CBD creates a route into that sector with fewer restrictions.

This is particularly true because of hemp, a form of cannabis that doesn’t contain THC and that the federal government legalized three months ago. CBD can be extracted from hemp, making it a profitable cash crop. A Youngevity subsidiary has recently acquired a 45-acre base in Florida purely for the purpose of meeting the demand for CBD.

CBD Beverages

The U.S. government’s widespread legalization of hemp through the passage of the 2018 Farm Bill last December has opened the way for a whole range of CBD endeavors. One of the most popular trends is expected to be CBD beverages.

Youngevity, which already has a strong presence in both beverages and CBD via its CLR Roasters and HempFX brands, has made the most of its established expertise to move quickly into this promising young market. The company has added a CBD-infused coffee to its Javalution coffee brand, which will go on sale at the end of May.

“We are extremely pleased with the taste of the product,” said Ernesto Aguila, president of CLR Roasters. “It is very exciting to bring a new product to market that has so much interest within the coffee beverage category. I have not seen a door opener like this since Javalution Coffee Company created the first fortified coffees.”

CBD beverages are more than just a novelty; they’re a way to make CBD consumption better fit with people’s everyday lives and socializing, and to blaze a trail for cannabis drinks to follow. By putting CBD in drinks, manufacturers such as Youngevity are making it possible for consumers to enjoy their CBD in common social settings, such as cafes, bars and restaurants. While one person orders an alcoholic drink and another sips a soft drink, a third could be enjoying a CBD drink, all at the same time. YGYI’s move helps brings CBD consumption into the mainstream.

YGYI’s strategy has been made easier by the relaxed approach of the FDA. While that authority claims jurisdiction over the use of CBD in food and beverages, the government entity hasn’t done much to limit its use. In the 21st century, the public will to suppress cannabis use is fading, and resistance against CBD appears to be almost nonexistent. A door has been opened, and companies such as Youngevity are walking in to make the most of it.

The Bigger Beverage Business

Part of bringing CBD into the mainstream is integrating it with other product lines. As long as CBD is separate in its own corner, persuading people to give it a try will be challenging. However, when it’s presented as simply one more option among a variety of beverages, raising awareness and use of the substance stands a better chance. That’s precisely what Youngevity is aiming to do through a recently announced agreement with water company Icelandic Glacial.

The deal will see the two companies work together as exclusive cross-marketing partners for the next three years. Icelandic Glacial drinks will appear alongside Javalution and other beverages in Youngevity’s direct-sales network.

Beyond this, the companies will also collaborate on creating new products targeting the lifestyle, health, food and beverage markets. A drinkable CBD product will be at the forefront of these developments, creating a connection between the purity of Iceland Glacial’s water and the relaxing potential of CBD.

This deal hasn’t just increased Youngevity’s product range. It has given the company more opportunity for growth and product development that will appeal both to the core CBD market and to a wider beverage consumer base.

A Changing Drinks Market

It seems that CBD might become the latest big disruptor in the beverage industry, which was last shaken up by the rise of energy drinks 20 years ago.

The fastest growing premium water brand in the US, The Alkaline Water Company Inc. (NASDAQ: WTER) (TSX.V: WTER), is distributed through more than 150,000 stores, including nine of America’s top-ten retailers by size. In 2018, the company announced a range of drinks targeting the health and wellness markets, including a water infused with vitamins and minerals and another with CBD. The company is waiting on FDA approval before launching its CBD water, but once the product is ready to go, it will have great reach thanks to the company’s strategy of regularly increasing its distribution network.

Founded in 2016, the New Age Beverages Corporation (NASDAQ: NBEV) is a young and vibrant company with a focus on healthy drinks produced in an environmentally and socially responsible way. In January, the company announced a deal for the distribution of CBD-infused beverages under its Marley brand. The Marley range of organic cold coffees and teas is already an established brand for New Age Beverages and a natural fit for entering the CBD market.

Hi-Fi Hops, Heineken’s (OTCQX: HEINY) cannabis beverage, was launched last year in two versions: one with 10 mg of THC and one with 5 mg of THC and 5 mg of CBD. The product is sold in California’s cannabis dispensaries and is the result of a collaboration between AbsoluteXtracts, a manufacturer of cannabis-based products, and Lagunitas. “The idea of being a part of a no-calorie beverage infused with cannabis seemed like a perfect next step in our product innovation and a natural way to marry our past with our future,” said Lagunitas CEO Maria Stipp.

Beverage giant Constellation Brands Inc. (NYSE: STZ), which owns Corona beer and Svedka vodka, has made the biggest financial commitment so far to advancing CBD beverages. The company has invested $4 billion in Canopy Growth Corporation, one of Canada’s largest cannabis producers. The two companies will be working together to produce cannabis drinks, giving the sector a significant boost to its public profile thanks to Constellation’s marketing reach.

CBD drinks are a natural combination of two popular consumer sectors, and with so many companies invested in them, this looks likely to be the year they take off.

For more information on Youngevity, visit Youngevity International, Inc. (NASDAQ: YGYI)

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 – First Specialist Medical Marijuana Clinic Opens in the UK

Last Saturday (March 9) saw history being made in the UK as the first specialist medical cannabis clinic opened in Manchester. The clinic is called The Beeches Consulting Center.

The opening of this clinic has been widely welcomed by patients and clinicians in the UK. This cannabis clinic is owned by European Cannabis Holdings (ECH), a group of companies that plans to open many more such clinics across the UK.

The clinic will be headed by two respected professionals in the medical field. These are an independent pain specialist, Dr. David McDowell, and the second is a consultant neurologist, Professor Mike Barnes.

Dr. McDowell also holds the distinction of being the first specialist to issue a medical cannabis prescription in the UK when the British government enacted a law that made it possible for patients to access medical cannabis starting from December 1. 2018.

Forzana Nazir is one of the first patients that Dr. McDowell issued a medical cannabis prescription to. She is eternally grateful for this because she has been able to transition from taking 13 different medications for her genetic disorder to just three prescription medications ever since she started taking medical marijuana.

Nazir suffers from Ehlers Danlos Syndrome that made her nearly bedridden on a permanent basis due to the severe pain, vomiting and nausea. She credits medical marijuana for significantly improving her quality of life and also for weaning her off many prescription opioids.

The opportunities offered by this new clinic have huge significance given the difficulties that patients have been experiencing if they want to access medical cannabis through the NHS (National Health Service).

Patients are required to establish exceptional clinical circumstances, exhaust all the current treatment options available in the UK, get approval from an NHS Trust Medical Director and then get a medical specialist who is willing to accept liability for their medical cannabis treatment. Only then can a patient receive medical marijuana from the NHS. Any wonder that only four patients have so far accessed the NHS medical marijuana?

The clinic in Manchester, and others that will be opened, will offer an alternative to the complicated bureaucracy associated with getting medical marijuana through the NHS. For now, the clinic will treat chronic pain (due to arthritis, spasticity, fibromyalgia, etc.), psychiatric conditions (anxiety, depression, PTSD, etc.) and neurological conditions, such as Parkinson’s disease, Alzheimer’s, multiple sclerosis and epilepsy.

Net Element, Inc. (NASDAQ: NETE) and Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) congratulate ECH upon that major milestone of opening the first specialized medical marijuana clinic in the UK. That is a major investment which should open the eyes of other businesses to the massive opportunities that exist in the cannabis industry.

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 – British Lawyers Head to Brussels Over CBD Ban

Last month, we reported that there was a run on CBD drinks and other CBD products in the UK after the EU declared that CBD and other cannabis or hemp extracts were novel foods that could only be allowed on the market after receiving regulatory approval. Cannabis industry players in the UK aren’t taking that ban lying down. Their association has instructed a team of lawyers to head to Brussels in order to try and overturn that ruling.

While the EU law, (EU) 2015/2283, isn’t binding on the member states, many countries use the guidance provided by the EU to draft their own domestic laws and regulations. Actually, many EU countries promptly act on those recommendations then ask questions later.

For example, Austria immediately banned CBD and all food products containing it as soon as the EU made its ruling on the products.

Cannabinoids were categorized as novel foods by the EU since industry players “failed to prove” that those products had a history of being consumed in the EU prior to 1997 when the European Food Safety Authority (EFSA) was established.

Mackrell Turner Garrett, a London-based law firm, together with a leading trading standards and food attorney in the UK, have been sent to Brussels to meet EFSA officials in order to argue the case of the CBD industry in the UK.

The lawyers are acting on behalf of the Cannabis Trade Association UK and they will try to convince EFSA at the EU headquarters that since hempseed and hempseed extracts have already been approved, then they don’t belong in the category of the novel foods that should be banned.

This will be a tough fight to complete because the EU has a history of being cautious regarding any major global developments with origins in North America. This pushback has particularly been strong ever since the financial meltdown of 2008.

But the team from London is unfazed and wants to argue the case of its members. CBD has grown so rapidly that in just three years, the CTA (Cannabis Trade Association) has grown to more than 700 members.

Additionally, the CBD industry contributes approximately $130 million to the British economy each year. It remains to be seen whether the arguments presented by the lawyers will change the minds of the regulators in Brussels. Medical Cannabis Payment Solutions (OTC: REFG), MustGrow Biologics Corp. and other people who see investment opportunities hope that Brussels changes its stand so that the growth of the industry isn’t torpedoed at this point.

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 – Workers’ Compensation Being Modified to Incorporate Medical Cannabis in Canada

You would expect that with more than 17 years of existence in Canada, medical cannabis should have already led to policy changes in various aspects of life in the country. However, if the claims of injured workers are anything to go by, workers’ compensation guidelines have been slow in changing to accommodate this form of treatment. Now matters are beginning to shift as the discussion below shows.

More Workers Winning in Tribunals

Mellissa Ellsworth is just one of 10 patients who have won hearings in Nova Scotia’s workers’ comp tribunal set up to assess whether the Workers’ Compensation Board should cover the cost of medical marijuana. It took her five years to get this approval.

Alberta’s board has so far also accepted to cover the medical marijuana costs of 10 workers who were injured on the job. New Brunswick shines in this regard because it has so far approved 71 patients’ applications for medical cannabis costs coverage under workers’ comp policies.

It is saddening that patients have to endure years of pain as their applications slowly make their way through the red tape of the Workers’ Compensation Boards in the different provinces and territories. For example, the neurological pain experienced by Melissa Ellsworth led her to take a total of 26 pills on a daily basis just to function as a normal human. She now takes only cannabis and enjoys a better quality of life.

The good news amidst all this is that for each patient who gets approval, more are encouraged to table their requests before the different boards. Eventually, medical cannabis will become a normal form of treatment and no patient will have to go through what the pioneers like Melissa Ellsworth had to endure to get approval.

Doctors’ Prescriptions Rarely Considered

You would think that the different Workers’ Compensation Boards would attach some weight to the recommendations provided by the primary healthcare providers of the patients who apply for coverage.

However, only Quebec recognizes and acts upon those recommendations. Other boards convene their own medical team sittings to assess the eligibility of a patient for medical cannabis. Why should this happen when Health Canada screens patients before giving them a medical cannabis card?

Caps on Daily Cannabis Consumption

Nearly all provinces and territories that are even willing to consider paying for medical cannabis for injured workers impose a three gram cap on how much medical cannabis a patient can claim coverage for each day.

While there may be valid reasons for this cap, it would be reasonable for these boards to acknowledge that different patients have different needs, so mechanisms should be available for those who need more to be covered without major hassles. Even Health Canada allows patients to grow hundreds of cannabis plants if they need a lot on a daily basis for their treatment. But, workers’ comp boards still insist on three grams a day!

But, There’s Progress…

Amidst this huge cloud hovering over injured workers in Canada, winds of change are slowly picking up. Last year, New Brunswick set the stage by passing medical cannabis guidelines. Prince Edward Island followed suit, and now Nova Scotia is drafting its own set of guidelines.

While all this is happening in Canada, one wonders what the situation is here in the U.S. With most marijuana businesses still struggling to access banking services, it is hard to picture what patients may be going through if they wish to have their medical cannabis costs covered by workers’ comp insurance. Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Marijuana Company of America (OTCQB: MCOA) decry the slow rate at which workers’ compensation is evolving to accommodate medical cannabis. This isn’t only denying patients a viable treatment option, but it is also limiting the investment opportunities that would boost the economy.

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 – Demand Soars for Missouri Medical Cannabis Licenses

The cannabis bullet train doesn’t seem to be showing any signs of slowing down in Missouri ever since voters overwhelmingly passed a ballot measure in the recent midterms to legalize medical marijuana in the state. Now more than 300 businesses are due to be licensed to participate in the medical cannabis industry once it is commercialized.

This announcement was made by Lyndall Fraker, the Missouri Medical Marijuana Program Director, while speaking at a medical marijuana conference in St. Louis on Monday (March 11). He added that if those 300 licenses weren’t enough, then the state wouldn’t hesitate to grant more to the businesses that wish to serve Missouri patients in different capacities.

Already, more than 450 applications have been received from entities that would like to cultivate, manufacture, dispense or test medical marijuana and its products in the state. It is from this pool that the state will select the first 300 businesses to be licensed.

For now, the regulator has set the minimum number of players that will operate in the different segments of the medical marijuana industry. These include at least 192 dispensaries, two marijuana testing facilities, 85 manufacturing facilities and 60 marijuana cultivation facilities.

When added up, those figures exceed the 300 licenses that will be awarded initially, so you can see that the state already has plans for an extensive and robust medical cannabis industry.

You may be wondering, won’t 300 businesses be too many for an industry that is just being set up? This concern may be legitimate, but if anything is to be learnt from the Canadian recreational cannabis industry, it is risky to allow only a few players in the industry.

The cannabis shortages in Canada can largely be explained by the country’s failure to license enough businesses to participate in the different aspects of the cannabis value chain. The resulting mess will possibly take years to fix. Missouri may therefore be onto something when they start off with hundreds of licensed businesses.

Besides, not all of those 300 businesses will start operations at the same time. And when they do start, not all of them will be successful. Others will close shop while more will merge with other businesses.

It is therefore a good thing that the state intends to give all those businesses a shot and then their fate will be squarely in their hands once they get hold of a license. Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF), Green Hygienics Holdings Inc. (OTCQB: GRYN) and all who wish to invest in the medical cannabis industry welcome the steps being taken by the Missouri Medical Marijuana Program to do things right from the get-go.

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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