Jordan Brown, age 29, was shot and killed on March 19, 2022, during an armed robbery while he worked his shift as a budtender in Tacoma, Washington. He was an employee at a company called World of Weed. Joshua Chase, the proprietor of Oakland-based Oakanna, took a shot in his foot on April 24. Brian Garcia was also fatally shot by armed robbers in Los Angelese nearly a fortnight ago.

These and other such incidents have captured the attention of the media and drawn the eyes of the country to the pressing need to allow marijuana companies to gain access to banking services so that the huge amounts of cash attracting criminals are absorbed into the banking system. State officials and industry advocates are also raising their voices and calling out Congress for remaining inactive as criminal activity targeting state-legal cannabis companies escalates.

On a positive note, the crime wave may inadvertently tip the scale in favor of passing cannabis banking reforms, something that has been hitting a dead end each time efforts are made to push the SAFE Banking Act through the Senate. For example, many top legislators are voicing their support for the inclusion of cannabis banking language in a comprehensive bill aimed at boosting American competitiveness against China. Bicameral discussions are underway, and this bill is expected to be ready for the president’s desk by August.

It is making a difference. Senator Steve Daines, a Republican from Montana, didn’t initially support the banking bill. However, the passing of legislation creating a regulated marijuana market in his home state has made him start supporting the law because residents of Montana have legalized marijuana.

Another example of changing alliances is Senator Jeff Merkley, a Democrat from Oregon. He is one of the cosponsors of the banking bill, and the recent robberies have impressed upon him the urgency of passing this law by whatever means possible.

However, the road to federal marijuana banking reform may not be an easy one given that many key Democrats, including Senate Majority Leader Chuck Schumer, are opposed to enacting banking reforms without including social equity or criminal justice reforms. The twist is that if attempts to add those provisions are made, many Republicans who have expressed support for the bill may switch allegiance and withdraw their support.

It remains to be seen how the conferees will walk the tightrope and come up with a comprehensive manufacturing bill that finally wins the support of enough Republican and Democrat senators to see it through. The eyes of the cannabis industry, including companies such as American Cannabis Partners, are on the bicameral conference talks to see what consensus can be reached on this important matter of marijuana banking.

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

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.

Prime Harvest, a technology-focused, full-service cannabis company led by a team of true experts in their respective fields, is committed to setting a new operational standard emphasizing accountability, sustainability and community. With horizontally diversified operations spanning multiple segments of the cannabis value chain, including licensing acquisition, compliance management and direct-to-consumer operations, Prime Harvest is leveraging a long-term strategy of investing in the growth and scale of licensed assets anchored by the power of data-driven technology to expand its footprint throughout California. “Jaxx Cannabis is the flagship brand in Prime Harvest’s portfolio. Through Jaxx Cannabis, the company aims to use technology to facilitate a true customer-centric culture while enhancing the overall craft cannabis experience… Key values serving as the foundation of Jaxx Cannabis include: creating and nurturing a welcoming culture for all; unlocking the true potential of customer value; being innovative in uncovering new ways to grow both the company and the industry; meeting the wants and needs of consumers to promote profitability; and remaining accountable for the results of its operations. It is these values that differentiate Prime Harvest and Jaxx cannabis in the California cannabis sector,” a recent article reads. “Prime Harvest works diligently to establish strong alliances with complementary brands that are in alignment with its culture and values… These partnerships enhance Prime Harvest’s efforts to transform the world’s cannabis access and bring its consumers high-quality products that are fair for both people and the planet.”

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

About Prime Harvest Inc.

Prime Harvest is a technology-focused full-service cannabis corporation. The company is horizontally diversified across various segments of the cannabis value chain including licensing acquisition and compliance management, state-wide delivery, and direct-to-consumer operations. Based in the innovation hotspot of San Diego, California, Prime Harvest is expanding its footprint throughout the Golden State by executing a long-term strategy of investing in the growth and scale of licensed assets anchored by the power of data-driven technology. Prime Harvest’s flagship retail brand, Jaxx Cannabis, upholds exceptional standards of quality and services and provides a rewarding experience for customers in San Diego and the surrounding Southern California communities. Trust and credibility are at the heart of everything that the team at Prime Harvest stands for. The Prime Harvest team is composed of true experts in their respective fields, carefully assembled with the aim of building a world-class organization that can drive the cannabis industry and movement forward. For more information about the company, visit www.PrimeHarvestInc.com.

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.

• More than a dozen California cities are opening new recreational cannabis licensing opportunities this year, article reports
• SGMD has established a pattern of growth through the years, investing in a number of subsidiaries with active operations in the California cannabis sector
• Company also completed the acquisition of Lemon Glow and its assets, interests, property and rights

The cannabis space appears set for growth in California, according to an MJBizDaily report (https://cnw.fm/aDsO8). The potential growth bodes well for Sugarmade (OTC: SGMD), an emerging leader in the sector that is 

“More than a dozen California cities are opening new recreational cannabis licensing opportunities this year, either by embracing the legal marijuana industry for the first time or by increasing the number of available business permits,” the MJBizDaily article reported. “Several other cities, meanwhile, are laying the groundwork for new markets down the road by drafting and/or developing cannabis ordinances. The rollout of new adult-use markets and business opportunities come as cities across the state are eager to bring in additional tax revenue after the pandemic and other factors depleted public coffers.

“The ongoing shift is a welcome sign for the state’s struggling marijuana sector, which remains forbidden in the vast majority of California cities and, at the same time, must compete against a thriving illicit market,” the article continued. “The retail expansion is far and wide, from urban centers in San Diego and San Jose to small towns such as Madera in the Central Valley and Oxnard along the southern California coast.”

Sugarmade is working to position itself establish in the growing California cannabis delivery marketplace. The company has established a pattern of growth through the years, investing in a number of subsidiaries with active operations in the California cannabis sector. The company’s portfolio brands include Nug Avenue, SugarRush and Lemon Glow.

Sugarmade owns a 70% stake in NUG Avenue, a cannabis delivery service based in southern California. The service offers hand-selected, top-shelf products from Stiiizy, Kanha, PlugPlay, BigChief and others. The cannabis delivery service that covers same-day service of a variety of products, including flower, pre-rolls, vapes, extracts, edibles, concentrates and capsules. The service covers delivery in Los Angeles County, Orange County, San Bernardino County and Riverside County. 

In addition, last year Sugarmade completed the acquisition of Lemon Glow and its assets, interests, property and rights (https://cnw.fm/rjynv). “We are setting the stage to improve margins while expanding end-market access, and to grow, refine, produce, distribute in the largest and fastest-growing cannabis market on the planet,” said Sugarmade CEO Jimmy Chan. The acquisition was designed to position the company to achieve that objective with a significant capacity to scale as demand for California-grown cannabis is expected to grow when federal legalization takes place.

Sugarmade believes these significant changes in the marketplace create an opportunity to invoke a new short-term strategy while the company’s long-term plans to cultivate at its new Lemon Glow facility are developing. In May of last year, Sugarmade closed on the acquisition of Lemon Glow Company and announced plans to acquire the necessary approvals and permits to cultivate up to 32 acres of the 640-acre property. Sugarmade is also working to obtain a conditional use permit number from the community development department of the county of Lake, California, which the company believes is an important step toward gaining the full conditional use permit that will allow cannabis cultivation on the property.

In addition, 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 this year. These operators have already made significant investments in infrastructure and have highly specialized personnel available that SGMD can utilize on a contract basis for production of cannabis.

The company observed that, by contracting with the owners of these already available resources, it will gain immediate access to the marketplace based on an advantageous cost model that will place the company on par or, in some cases, at a superior cost position, when compared to many of the larger cannabis cultivation and distribution companies in the industry. 

Sugarmade officials are in negotiations with several local permitted and licensed operators that are agreeable to a partnership arrangement with Sugarmade to manage operations for cannabis cultivation. Officials are also in active negotiations on the distribution side of the business that will allow Sugarmade to bring this cultivated cannabis to the marketplace. 

Invoking this dynamic short-term strategy, while continuing to develop the company’s longer-term strategy to fully develop the large Lemon Glow property for cultivation, will allow Sugarmade to significantly advance the timeframe for gaining market share in this industry based on a cost model that will allow the company to produce strong margins this cultivation season.

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

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.