Category: CannabisNewsWire Release

420 with CNW — White House Recognizes Cannabis’ Therapeutic Value, Promises to Make Reforms

President Joseph Biden has made his views on cannabis quite clear: although he believes in decriminalization and letting states formulate their own cannabis policies, he is an avid opponent of cannabis legalization. Despite that, news coming from the White House reveals that it still recognizes the medical potential of cannabis and that the Biden administration is committed to keeping its marijuana reform promises.

Last week, the White House drug czar acknowledged that cannabis has therapeutic potential as a painkiller. He stated that Biden believed existing federal cannabis policies were ineffective and that the administration was still set on passing incremental cannabis reforms.

Rahul Gupta, director of the Office of National Drug Control Policy (ONDCP), was answering a variety of marijuana-related questions during a House Oversight and Reform Committee hearing when the issue came up. Even though the Biden administration has been criticized for failing to keep the cannabis reform promises Biden made on the campaign trail, Gupta said that he is aware of the issues caused by current federal prohibitionist marijuana policies.

When Rep. Ro Khanna asked Gupta why cannabis was still classified as a Schedule I substance with no medical application at the federal level despite a growing body of research showing it can be an effective pain reliever with fewer side effects compared to opioids, he conceded that there was evidence proving cannabis’ efficacy as a pain reliever. However, federal law prevents ONDCP from using federal funds in any contract or study associated with legalizing a Schedule I controlled substance, including cannabis. But marijuana’s inclusion in the schedule is a contradiction as studies have shown it has medical applications, Khanna stated during the discussion.

She asked Gupta if he saw the contradiction between federal law and science and whether it needed to be solved. Gupta stated that the government had to keep looking at the issue from a research and medical use point of view. He noted that current federal cannabis policies “have not worked” and that the Biden administration would try and alleviate these issues via incremental reforms, such as decriminalization and expungements.

Even though the White House drug czar himself acknowledged marijuana’s medical potential, his hands are essentially tied on the matter. Federal law requires that he oppose any efforts to legalize Schedule I drugs such as cannabis.

Either way, the administration has its eye on cannabis reform. Earlier this month, the ONDCP director said in an interview that the Biden administration was actively monitoring states with legal marijuana markets to help inform federal policy.

It will be welcome news to American Cannabis Partners and other marijuana entities when long-awaited federal reforms to marijuana policy are finally passed and implemented, paving the way for a single nationwide market.

NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://cnw.fm/ACP

About CNW420

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

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

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

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

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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Announces Execution of LOI for DLC Acquisition

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company, has executed a binding letter of intention (“LOI”) with Diagnostic Lab Corporation (“DLC”). The letter, which was entered into on June 30, 2022, calls for the two companies to jointly recapitalize Grapefruit and raise $12.5 million of debt financing, which includes $5.5 million already committed from a qualified construction. DLC is a diversified food and agriculture safety company. The funding will be used to complete construction of a cultivation, manufacturing and distribution facility; acquire DLC assets; apply for an FDA 510K approval for GPFT’s patented Hourglass(TM) time release Z-POD THC/CBD/cannabinoid infused delivery cream; and conduct a clinical study to measure the effects of the Hourglass delivery cream on pain and other symptoms suffered by individuals diagnosed with osteoarthritis. “Execution of this letter of intent between DLC and GPFT is the next step in Grapefruit’s evolution from a ‘me-too’ cannabis company to a medical, science-based, canna-focused biotech company that will develop and obtain regulatory approval for an ever-expanding line of proprietary cannabis products based on the company’s patented Hourglass technology,” said Grapefruit CEO and cofounder Bradley J. Yourist in the press release. “Construction of the Coachillin’ ‘mothership’ facility at the Coachillin’ Park will secure our balance sheet and provide a reliable source of reasonably priced pharma-quality cannabis flowers for raw material for THC Hourglass products and for distribution in both the U.S. and Canada, as appropriate under any given market circumstances. The 510K approval for the Hourglass technology will facilitate its rapid market acceptance throughout the United States as an approved medical device. Finally, our lab acquisition program will provide rapid revenue growth and expand the company’s cannabis industry footprint. The parties expect to finalize and execute the definitive agreement before the end of August 2022 and close the transaction shortly thereafter.”

To view the full press release, visit https://cnw.fm/W8fwM

About Grapefruit USA Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, California. To find out more about the company, please visit https://GrapefruitBlvd.com.

About CannabisNewsWire

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

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Results of Annual Meeting of Shareholders, Board Appointment of Brandon Konigsberg

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced that the company’s shareholders voted in favor of all of the proposals submitted for their approval at Flora’s July 5 annual meeting. In addition to the re-election of the company’s six incumbent directors, shareholders also elected Brandon Konigsberg to serve on the board. Further to his responsibilities as a board member, Konigsberg will serve as chair of the audit committee and as a member of the compensation committee. “The addition of Mr. Konigsberg to our board is further testament to our ongoing commitment to fiscal discipline and sound governance. He brings with him exceptional experience in the fields of finance and operations and will assist in helping our organization achieve rapid financial growth and maximize our shareholder value,” said Luis Merchan, Flora’s chairman and CEO. “We are pleased to welcome Mr. Konigsberg as a valued member of our team and look forward to his contributions.”

To view the full press release, visit https://cnw.fm/hTDGw

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the most extensive outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.

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

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 844-397-5787 (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

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Expands Production Capabilities to Support Growing List of Business-to-Business Clientele

  • Lexaria is a global innovator in drug delivery platforms; its patented DehydraTECH(TM) technology improves the bioavailability, speed of onset, and brain absorption of active pharmaceutical ingredients (“API”)
  • Testing confirms that DehydraTECH-processed cannabidiol beverages maintained 93.4% and 78% potency of CBD a full year and two years after production, respectively
  • Lexaria recently signed two agreements with BevNology LLC, an Atlanta-based company with advanced capabilities that support best-in-class beverage formulations
  • The partnership, which also leverages Lexaria’s superior DehydraTECH-CBD nanoemulsification formulation and processing techniques, could make industry-leading beverage products a reality for many brands 

In this year’s letter to shareholders, Lexaria Bioscience (NASDAQ: LEXX) Chair and CEO Chris Bunka acclaimed the company’s research and development achievements which had resulted in remarkable stability of DehydraTECH(TM)-processed cannabidiol (“CBD”) beverages. One year after production, Bunka wrote, “bottled consumer beverage contained a remarkable 93.4% potency of CBD. We also showed less than 1% variability of CBD potency within the beverage, a concept of critical importance when delivering drugs in an aqueous solution” (https://cnw.fm/H4ndc).

The latest data from stability testing undertaken 25 months after initial bottling show the product had higher variability but still retained an average 78% of originally formulated CBD. Additionally, the microbiologic purity and cleanliness of the product surpassed all requirements 25 months after bottling.

One problem that has long caused the instability and variability of cannabis drinks, which normally include cannabinoids such as CBD and tetrahydrocannabinol (“THC”), is the hydrophobic nature of the cannabinoids. When THC or CBD are extracted from the cannabis or plant, they take an oil-based form. And as a Prepared Foods article notes, this hydrophobic nature complicates their use, particularly in water-based products. Studies have, in fact, shown that the insolubility of CBD, for instance, results in bioavailability as low as 4%. But companies can get around this problem using adequate manufacturing techniques that employ encapsulation and emulsification (https://cnw.fm/cYlw8).

“First and foremost, encapsulation allows for even dispersion throughout the product, meaning consumers will get the same amount of an active ingredient, such as CBD or THC, in each bite or sip,” reads the Prepared Foods article. “Encapsulation also improves a product’s shelf life, preventing the cannabinoid content from degrading over time and keeping the formulation stable.”

On the other hand, emulsification, which involves using a binding agent known as an emulsifier, aims to improve the absorption and onset times. There are three types of oil-in-water emulsions, macro, micro, and nano, with nanoemulsions featuring prominently in the cannabis food and beverage industry.

Lexaria understands the impact of adequate manufacturing techniques on the potency of its DehydraTECH-processed CBD products. And in a recent move that expands its manufacturing prowess even further, the company recently signed two agreements with BevNology LLC, a leading Atlanta-based beverage development and advisory company focused on providing quality formulation and commercialization services of cutting-edge beverage products (https://cnw.fm/Go4Bc).

One of these agreements, a manufacturing operating agreement, expands production capabilities for Lexaria’s own growing list of business-to-business (“B2B”) clients looking to purchase DehydraTECH-powered active ingredients for consumer-packaged-goods brands. BevNology custom-built a new, state-of-the-art processing facility that expands production capacity substantially. Already, the facility is operational and serving Lexaria’s clients. On its part, Lexaria installed all required commercial DehydraTECH manufacturing equipment into the facility in anticipation of future growth.

Meanwhile, the second agreement, a commercial license agreement, authorizes BevNology to offer DehydraTECH products with hemp-derived active ingredients, including CBD, under BevNology and partnered brands. This agreement leverages BevNology’s advanced capabilities that support best-in-class beverage formulations coupled with Lexaria’s superior DehydraTECH-CBD nanoemulsification formulation and processing techniques, could make industry-leading beverage products a reality for many brands. 

“These agreements build on a long-standing and very successful product development consulting relationship between Lexaria and the expert scientists and personnel at BevNology,” commented Chris Bunka. “BevNology’s formulation and production capabilities are class leading, and we are confident that our new relationship with our trusted partner will propel new and exciting growth opportunities for both companies.”

Lexaria Bioscience is a global innovator in drug delivery platforms, its patented DehydraTECH technology improves the bioavailability, speed of onset, and brain absorption of active pharmaceutical ingredients (“API”).

For more information, visit the company’s website at www.LexariaBioscience.com.

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

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 (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

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Only Strong Marijuana Firms Will Survive Economic Downturn

The coronavirus pandemic kickstarted a global economic downturn and plunged the world’s economy into the worst recession since World War II. According to the World Bank, most countries should expect their economies to head into a recession, with the global growth rate expected to slow down from 5.7% in 2021 to 2.9% in 2022. This atmosphere will undoubtedly weed out cannabis companies that were only in it for a quick buck as investors become more cautious with their money.

In Europe, marijuana-based startups are having trouble raising capital amid growing fears of a looming recession and global stock markets plunge. Although this is a major disadvantage for companies that are looking to break into the insanely lucrative cannabis space, it could help the industry clear itself of players who weren’t serious about growing and carving out a portion of the market for themselves.

Alastair Moore, founder of cannabis research firm Hanway Associates, says the coming period of economic decline will clear out companies that were only interested in “making a quick buck,” stating that it will be good for the industry. Moore adds that startups with a high chance of survival will have strong and sustainable business models that will attract overcautious investors.

Enexis AB founding partner David Bonnier notes that the medical cannabis space will be resistant to recession as people will still spend on medication. It is a sentiment shared by many investors and executives who believe medical marijuana funding will not be affected as more countries work to legalize medical marijuana use within their borders. Bonnier states that most patients will still make a point to visit their doctors and buy medication, even in the middle of a recession.

The medical cannabis market may be young, but it is already quite lucrative, and experts predict exponential growth over the next couple of years. For example, America’s medical cannabis market is expected to double in size from around $5 billion in 2019 to more than $11 billion in 2024. Cannabis research company Prohibition Partners predicts that the UK’s marijuana market could be worth more than £453 million ($556,016,730) by 2026.

Ben Hamburger is the cofounder of Sana Life Science, a medical marijuana distributor in the UK that recently raised $9 million from investors. He says that investors are asking a lot more questions regarding the company’s growth projections and when it can expect to start turning a profit. What they want to see is marijuana companies with a solid plan that will guarantee them a return on their investments.

The effects of the looming recession aren’t only going to affect marijuana companies in Europe; even North American companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) are likely scanning the horizon and making contingency plans for when the downturn hits.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

About CNW420

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

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

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

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

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420 with CNW — Illinois Disburses $45 Million from Cannabis Taxes to Repair Drug War Harms

Early this year, the Illinois Department of Revenue estimated that in the two years since it first launched its recreational cannabis market, Illinois had collected more than $500 million in cannabis taxes. Now the state is planning on using some of those funds to repair the societal harms caused by the failed war on drugs and decades of prohibition.

Illinois officials recently announced that they would be awarding $45 million in grants to reinvest in communities that had been hit the hardest by the drug war. Money generated from taxing the sale of recreational marijuana in the state would be used to fund these grants through the state’s Restore, Reinvest, and Renew (R3) Program. The program was created in 2019 when Illinois Governor J.B. Pritzker signed a cannabis legalization initiative into law.

This is the second time the R3 program has provided funding to reinvest in communities that were disproportionately affected by prohibition.

The $45 million will be used to provide financial support to 148 programs that are operated by small organizations in socioeconomically disadvantaged communities.

Speaking during a press conference, Governor Pritzker said that fixing the mistakes of the drug war was key to creating a “modern and equitable cannabis industry.” This means dedicating funding to underserved communities that have had little access to investment and resources, he said, noting that Illinois was proud to use funds generated from cannabis sales to help these communities heal and prosper.

The state announced in December 2021 that applications for this second funding round were open. According to the Illinois Justice Information Authority (ICJIA), there were 512 complete applications for the grants. Stakeholders and community residents then vetted these applications before settling on 148 recipients. Recipients include Resilience Partners NFP, Lifehouse Recovery Organization, Women in Need Recover, Illinois Equity Staffing LLC and the Illinois Prison Project, which all received a portion of the $1.5 million grant.

Illinois provided $31 million in grant funding under the R3 program in May 2020, a year after the state began recreational cannabis sales. The organizations that were awarded grants in the first round of grants will have their funding renewed this year as well to ensure they keep serving their communities without any disruptions.

Lt. Governor Juliana Stratton stated in a press release that the state is putting its money where its mouth is and taking steps to reduce the harms caused by the drug war. Moving forward, the R3 program will be central to the state’s efforts to reinvest in and heal underserved and unheard regions.

The way in which cannabis taxes are being put to use to help communities that were most impacted by the misguided war on drugs in Illinois shows just how much good can result when jurisdictions open their doors to legitimate marijuana companies such as Flora Growth Corp. (NASDAQ: FLGC).

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at http://cnw.fm/FLGC

About CNW420

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

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

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

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
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http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Illinois Disburses $45 Million from Cannabis Taxes to Repair Drug War Harms

Early this year, the Illinois Department of Revenue estimated that in the two years since it first launched its recreational cannabis market, Illinois had collected more than $500 million in cannabis taxes. Now the state is planning on using some of those funds to repair the societal harms caused by the failed war on drugs and decades of prohibition.

Illinois officials recently announced that they would be awarding $45 million in grants to reinvest in communities that had been hit the hardest by the drug war. Money generated from taxing the sale of recreational marijuana in the state would be used to fund these grants through the state’s Restore, Reinvest, and Renew (R3) Program. The program was created in 2019 when Illinois Governor J.B. Pritzker signed a cannabis legalization initiative into law.

This is the second time the R3 program has provided funding to reinvest in communities that were disproportionately affected by prohibition.

The $45 million will be used to provide financial support to 148 programs that are operated by small organizations in socioeconomically disadvantaged communities.

Speaking during a press conference, Governor Pritzker said that fixing the mistakes of the drug war was key to creating a “modern and equitable cannabis industry.” This means dedicating funding to underserved communities that have had little access to investment and resources, he said, noting that Illinois was proud to use funds generated from cannabis sales to help these communities heal and prosper.

The state announced in December 2021 that applications for this second funding round were open. According to the Illinois Justice Information Authority (ICJIA), there were 512 complete applications for the grants. Stakeholders and community residents then vetted these applications before settling on 148 recipients. Recipients include Resilience Partners NFP, Lifehouse Recovery Organization, Women in Need Recover, Illinois Equity Staffing LLC and the Illinois Prison Project, which all received a portion of the $1.5 million grant.

Illinois provided $31 million in grant funding under the R3 program in May 2020, a year after the state began recreational cannabis sales. The organizations that were awarded grants in the first round of grants will have their funding renewed this year as well to ensure they keep serving their communities without any disruptions.

Lt. Governor Juliana Stratton stated in a press release that the state is putting its money where its mouth is and taking steps to reduce the harms caused by the drug war. Moving forward, the R3 program will be central to the state’s efforts to reinvest in and heal underserved and unheard regions.

The way in which cannabis taxes are being put to use to help communities that were most impacted by the misguided war on drugs in Illinois shows just how much good can result when jurisdictions open their doors to legitimate marijuana companies such as Flora Growth Corp. (NASDAQ: FLGC).

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at http://cnw.fm/FLGC

About CNW420

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

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

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

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks — Cilicon Announces New Partner Program to Offer Variety of Support for Cannabis Vaporizer Enterprises

Cilicon, a leading, globally trusted, product-solution provider of cannabis vape technology and manufacturing, has launched its Cilicon Partner Program. The program is a flexible, collaborative distributor partnership designed to support cannabis vaporizer enterprises in a variety of ways, including developing and expanding product offerings, upgrading product performance, expediting product delivery cycles and reducing product inventory costs. The program is open to all cannabis enthusiasts interested in the marijuana vaporizer market, and the company has started to accept cannabis vape hardware distributors of different regions, sizes, levels and needs to further expand the supply market for cannabis vaporizers. “The cannabis vape pen market is getting intensely competitive, and consumers have increasingly developed brand recognition in the market,” says Cilicon channel director Aurora Chen in the press release. “By partnering with a vaporizer manufacturer like Cilicon, with its many years of industry experience, distributors will not only have free access to a more professional marketing team to grasp the market dynamics but also a technical team who responds quickly to product demand inquiries. We even arrange exclusive channel managers to assist in product planning and inventory management, localizing the market portfolio for better market culture acceptance and adaptation. Furthermore, we offer everything from oil injection service and vaporizer products to packaging and logistic solutions, and sales planning from sell-in to sell-out, becoming a one-stop service provider to lead and achieve win-win business cooperation, thus rapidly expanding the market.”

To view the full press release, visit https://cnw.fm/6fP4f

About Cilicon 

Cilicon was born with one dream: to improve everyday lives through vape technology utilizing innovation, enthusiasm and compassion. The company is tired of inferior merchandise hurting the market and driving out high-quality products and was founded with no compromise on quality, safety and customer satisfaction. Innovation is in Cilicon’s blood, so the company created a game-changing proprietary platform to generate diverse cannabis vaporizer options for standing out from the crowd. For Cilicon, brand success is a main priority. To learn more about the company, visit www.CiliconPlus.com.  

About CannabisNewsWire

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

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (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

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

CannabisNewsWire (CNW)
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303.498.7722 Office
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CannabisNewsBreaks – Sugarmade Inc. (SGMD) ‘Embarking on a New and Bold Strategy’

Sugarmade (OTC: SGMD) CEO Jimmy Chan’s recent letter to shareholders outlines several strategic opportunities the company intends to pursue. “Noting several significant changes in the marketplace, including an uncertain regulatory environment, high taxes and drop in prices for cultivated cannabis products, Chan observed that numerous cannabis cultivation license holders, including unlicensed growers, have been forced to forgo plans to directly cultivate cannabis this year,” a recent article reads. “Calling this an ‘opportunity to invoke a new short-term strategy while our long-term plans to cultivate at our new Lemon Glow facility are developing,’ Chan explained that for the 2022 cannabis cultivation season, Sugarmade is ‘embarking on a new and bold strategy to enter into contract cultivation arrangements with local Lake County, California, cultivators that have decided not to engage in their own cultivation efforts for the 2022 season. These operators have already made significant investments in infrastructure and have highly specialized personnel available that we can utilize on a contract basis for our production of cannabis… By contracting with owners of these already available resources, Sugarmade will gain immediate access to the marketplace based on an advantageous cost model that will place Sugarmade on par, or in some cases, at a superior cost position compared to many of the larger cannabis cultivation and distribution companies in the industry.’”

To view the full article, visit https://cnw.fm/RF7vn

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.

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

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Flora Growth Corp.’s (NASDAQ: FLGC) Management Confident in the Company’s Short, Medium, and Long-Term Growth Prospects

  • Flora just announced the repurchase of $5 million of its outstanding common shares
  • This repurchase aligns with its overall global expansion plan, and its move to grow its market reach
  • These moves by Flora assure shareholders of the company’s commitment to driving shareholder value and exploring various opportunities to do so

On June 16, 2022, Flora Growth (NASDAQ: FLGC) announced that its Board of Directors had authorized the repurchase of up to $5 million of its outstanding common shares. This came in the wake of the expiration of a one-year lockup period for specific shareholders who had acquired shares before the company’s Initial Public Offering (“IPO”).

While making the announcement, Luis Merchan, Flora’s Chairman and Chief Executive Officer (“CEO”), noted:

“Flora continues to move assertively to execute its growth plans while simultaneously improving gross profit margins and reducing corporate overhead expenses.”

“We are confident in the company’s short, medium, and long-term growth prospects based on our strong in-market brand portfolio together with our cultivation and export capabilities in life sciences research,” he added (https://cnw.fm/678hm).

This move to repurchase shares aligns with Flora’s overall global expansion plan that has seen the company follow through with acquisitions of strategic brands and entities in the industry. For example, earlier in the year, Flora acquired 100% equity interests in Just Brands LLC and High Roller Private Label LLC, the owners of the JustCBD brand, for a consideration of $16 million in cash and 9.5 million in privately issued Flora common shares (https://cnw.fm/9QeQe).

The repurchase also aligns with the company’s move to grow its market reach, having announced the expansion of its operational footprint in Europe and the United Kingdom. This expansion would bank on JustCBD’s 79 products registered with the UK Novel Foods, allowing for the distribution of its growing house of brands.

At the beginning of the year, Flora’s management reiterated how the cannabis sector was ripe for the picking. Most notably, they noted how great brands and cost advantages are optimal traits for the company’s long-term market leadership and return on investment (“ROI”), emphasizing the opportunities ahead. This outlook is shaping the company’s decision-making process halfway into 2022, even as it seeks to aggressively grow its market reach, product line, and customer numbers. 

The global cannabidiol (“CBD”) industry is projected to post a CAGR of 21.3% over the forecast period (2021-2028), achieving a value of $47.22 billion, up from $4.9 billion. Flora looks to capitalize on this growth by making strategic acquisitions of key brands in the industry, aggressively expanding its market reach, and taking ownership of its brand, as evidenced by its recent repurchase of outstanding common shares.

“The repurchase program affords us the opportunity to increase our ownership in our portfolio of high quality brands through our shares, which in our view, are trading well below NAV,” noted Mr. Merchan.

These recent developments highlight Flora’s management’s confidence in where the company is headed and its potential for growth as the year progresses. It also assures shareholders of the company’s commitment to driving shareholder value and exploring various opportunities to do so. As such, this only emphasizes Flora’s value as a good investment.

For more information, visit the company’s website at www.FloraGrowth.com.

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

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 (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

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.