Category: CannabisNewsWire Release

420 with CNW — DEA Admits Less Mexican Marijuana is Getting into US Because of State Legalization

In a new report presented to Congress, the U.S. Drug Enforcement Administration reveals that as more cannabis is produced domestically, smuggling from Mexico is being undermined.

These comments are part of the federal agency’s Fiscal Year Performance estimates for 2023. In that report, the DEA talks about what it is doing to boost marijuana research, including ending the monopoly of Mississippi University in producing cannabis for federally sanctioned research projects.

While the DEA wasn’t forthright in admitting that most U.S. residents are now opting for legally produced marijuana within the country, it did indicate that domestically produced cannabis had outmuscled that originating in Mexico.

Data exists to support the belief that local marijuana laws have had a big role to play in taming the flow of cannabis from Mexico. For instance, a 2018 study undertaken by the Cato Institute concluded that state-level marijuana policy reforms had significantly undercut cannabis smuggling.

The budget document released by the DEA makes reference to the increase in the domestically produced marijuana from a new source — companies that have the DEA’s approval to manufacture marijuana for research purposes. The agency reveals that approved manufacturers have increased from one to four, and an additional two are due to get the nod by this year’s end.

The drugs agency also details how it plans to ramp up the production of cannabis for research purposes. However, the agency’s document is quiet about the notable increase in the quantity of various psychedelic compounds such as MDMA and psilocybin, as interest grows in studying these substances as treatments for mental health disorders and other clinical indications.

In addition to the document presented in Congress, the DEA recently clarified that under existing laws, the popular delta-8 THC wasn’t categorized as a controlled substance. The DEA mentioned that only those products having more than 0.3% delta-9 THC fell under the regulatory framework of the DEA since existing law doesn’t ban isomers of THC. Similarly, the DEA indicated that marijuana seeds aren’t illegal nor do they fall into the  controlled substances category, in spite of how much THC may be found in the buds harvested after those seeds are cultivated. This is because federal law legalized hemp.

Another noteworthy trend is the increasing declines in federal prosecutions on marijuana-related charges. In 2021, less than 1,000 cases of cannabis trafficking were prosecuted. This is according to the United States Sentencing Commission (USSC).  Such statistics indicate that marijuana offenses are gradually slipping down on the priority list for law enforcement agencies at the federal level. In 2020, the same federal body recorded 1,118 marijuana cases.

The roundabout admission by the DEA that state-legal marijuana policies and companies such as American Cannabis Partners are helping to stem the tide of marijuana smuggling from across the border in Mexico proves yet again that ending cannabis prohibition has far-reaching beneficial effects for the economy and communities.

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 – Hero Technologies Inc. (HENC) Pursuing Diversification, Increased Share in Booming Colorado Market

Hero Technologies (OTC: HENC) anticipates expanding into the booming Colorado cannabis market via cultivation and dispensary operations through its wholly owned subsidiary, Mile High Green LLC. “Cannabis sales in the state broke another record last year, topping $2.22 billion in products sold, according to the Colorado Department of Revenue (https://cnw.fm/SFXzA). This figure ‘eclipses’ 2020 sales reaching upwards of $2.1 billion, which set a previous record,” a recent article reads. “Hero Technologies announced the formation of Mile High Green in March of last year, stating that the purpose of the subsidiary was to seek cannabis, land purchase and strategic acquisition opportunities in the state of Colorado. ‘By establishing another subsidiary to target cannabis property acquisitions and cannabis licenses, we continue to aggressively pursue our diversification and integration strategy,’ said Hero Technologies CEO Gina Serkasevich. ‘Colorado is an obvious market for us to target for expansion. It was exciting to see the state’s cannabis sales soar to $2.2 billion in 2020, truly an all-time high. We will work hard to gain market share in this important territory and participate in its healthy growth.’”

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

About Hero Technologies Inc.

Hero Technologies is a cannabis company working toward a vertically integrated business model. The company owns a majority stake in BlackBox Systems and Technologies LLC, an aeroponic cannabis cultivation system that provides optimal growing conditions to enhance photosynthesis and cultivation of large flowering plants, creating increased harvest efficiencies. Hero Technologies’ strategic business plan includes cannabis genetic engineering, farmland for both medical and recreational cannabis cultivation, production licenses, distribution licenses, consumer packaging, and retail and dispensary operations that make the company a multi-state operator (“MSO”). For more information about the company, visit www.HeroTechnologiesInc.com.

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

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

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Provides Update Regarding Restructuring, Strengthening of Balance Sheet

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has completed a companywide restricting, which resulted in the elimination of $115 million in liabilities and more than $22 million in annual expenses. Highlights of the strategic moves include the completion of the sale of its Granville, Illinois, facility; the repayment of $51.7 million secured debt and the elimination of $6.3 million of annualized debt servicing; and transitioning to an asset-light, brand-rich model that eliminated more than $13 million in associated annual operating expenses, inclusive of $8 million in cash operating costs. In addition, the company streamlined brands, contributing to the potential elimination of more than $60 million in future royalty payment liabilities that will impact the company’s third-quarter 2021 balance sheet. In addition, RWBYF completed reductions of employees, consultants and contractors that resulted in more than $2.5 million annualized cost savings and paid off $3.8 million in additional liabilities as well as repayment of secured debt. “Having recently obtained full operational control of our intellectual property, brands and operations across all assets, we’ve expeditiously mobilized our teams to optimize our strategy for the current and anticipated market conditions to maximize shareholder value,” said Red White & Bloom CEO Brad Rogers in the press release. “We are very pleased with the significant balance sheet and operational improvements we have made in a relatively short period of time. Today’s announcement is the culmination of an in-depth review and rationalization of assets and operations. We have reduced well over $100 million of liabilities without any dilution to our shareholders and have exited the one state that had not contributed any revenue from THC operations to our results since our inception.”

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

About Red White & Bloom Brands Inc.

Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Illinois, Massachusetts and Michigan with respect to cannabis, and the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com. 

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

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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O’Cannabiz International Conference and Expo to Feature a Retail Summit and Awards Gala

The wait is finally over. Following last year’s rescheduling due to the pandemic, Canada’s premier cannabis event is set for June 1-3rd. On its return to Toronto, the O’Cannabiz International Conference and Expo will feature a VIP Conference, the 3rd annual Awards Gala, and a Retail Summit. 

To register, visit the following link: https://ocannabiz.com/toronto/register. 

O’Cannabiz will take place at the International Center in Mississauga, Ontario, Canada. The event is expected to host more than 3,500 attendees and over 180 speakers. The O’Cannabiz VIP Conference is set for June 1st and has a pool of influential speakers such as Derrick Berney, the CEO and Founder of Cannabis Wiki, and Donna Johannson, the Founder and Design Executive of Canadian Women in Cannabis (“CWIC”). Attendees will also have the opportunity to watch a Cooking Demo with Chef Pat Newton and Justin Renfrow.

The O’Cannabiz Industry Awards Gala will feature over 50 awards in 5 different categories to honor the top performing cannabis professionals and companies. The event is set for June 1st, 6:15 pm to 9 pm at Casa Loma – Toronto. There will be a 45-minute Red Carpet Royalty Cocktail Reception before commencing the dinner and awards session from 7 pm to 9 pm. Gerry Dee, Host of Family Feud Canada, will host the Awards Dinner Gala. VIP delegates, exhibitors, and sponsors will be treated to a lavish VIP Networking After Party from 9 pm to 11 pm at The Glass Pavilion, Casa Loma. 

A 2-day Retail Summit and Expo will happen from June 2-3rd. The Retail Summit will be a training program focusing on the needs and goals of cannabis retailers. During this period, exhibitors will showcase their products and solutions in a 50,000 SQ. FT. Expo Hall. The Retail Summit and Expo will be an excellent opportunity for retailers to network and learn about cannabis retail success solutions.

Visit the O’Cannabiz website to learn more about this year’s event and purchase tickets: https://ocannabiz.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 instant SMS alerts, 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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Hero Technologies Inc. (HENC) Eyes Passage of Marijuana Act as Plans Include Expansion into Colorado, Massachusetts

  • U.S. House passes key cannabis bill to remove cannabis from federally banned substances
  • A 2021 Pew Research Center poll indicates 91% of Americans agree that either medical or recreational cannabis use should be allowed
  • HENC plans to expand into two states — Colorado and Massachusetts — that have legalized cannabis

For the second time, the U.S. House of Representatives has passed a bill designed to end the federal ban on marijuana, which a Reuters article says has “created legal headaches for users and businesses in the states that have legalized” the substance (https://cnw.fm/guV9E). The bill now heads to the Senate, where its fate is uncertain. Companies that operate in the cannabis space, including Hero Technologies (OTC: HENC), are watching closely.

“The Marijuana Opportunity Reinvestment and Expungement [‘MORE’] Act, sponsored by Democratic Representative Jerrold Nadler of New York, which is in the process of legalizing the drug, removes marijuana from the list of controlled substances and eliminates criminal penalties for individuals who grow, distribute or possess it,” reported Reuters. “But the MORE act will need to gain 60 votes in the evenly divided Senate before moving to President Joe Biden’s desk for his signature.”

The bill would “end decades of failed and unjust marijuana policy,” said Democratic Representative Ed Perlmutter. “It is clear prohibition is over. Today we have an opportunity to chart a new path forward on federal cannabis policy that actually makes sense.” Perlmutter noted that the bill will not force any state to legalize marijuana.

The Reuters article stated that “marijuana users and businesses that sell it face a complicated legal patchwork in the U.S, where 37 states have legalized it in some form, either for recreation or medical use, while 13 still ban it entirely. Because federal law classifies cannabis as an illegal drug with no medical uses, researchers are severely limited in how they can study the drug and its impacts, making policy difficult to write. Cannabis businesses are also largely blocked from the U.S. banking system because of the federal ban.”

The article noted that legalization of marijuana is extremely popular among Americans, with a 2021 Pew Research Center poll indicating that 91% agreed that either medical or recreational use should be allowed.

Hero Technologies is a cannabis company working toward a vertically integrated business model with plans to expand into two states — Colorado and Massachusetts — that have legalized cannabis. HENC’s multistate model includes cannabis genetic engineering, farmland for medical and recreational cannabis cultivation, production licenses, distribution licenses, consumer packaging, retail operations and dispensaries.

Currently, the company owns a majority stake in BlackBox Systems and Technologies LLC, an aeroponic cannabis cultivation system that provides optimal growing conditions to enhance photosynthesis and cultivation of large flowering plants, creating increased harvest efficiencies. Its Colorado expansion will come through its wholly owned subsidiary Mile High Green LLC, while expansion in Massachusetts is planned through another wholly owned subsidiary, MassCannabis LLC.

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

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

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 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

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CannabisNewsWire is part of the InvestorBrandNetwork.

Flora Growth Corp. (NASDAQ: FLGC) Celebrates Finalization of Colombian Cannabis Export Protocols

  • Global cannabis brand Flora Growth Corp. is enjoying new opportunities for supplying its Colombian-grown high-THC and high-CBD flower to international markets, thanks to the finalization of regulatory framework allowing legal cannabis exports from the South American country
  • Flora Growth is authorized to export non-psychoactive cannabidiol (“CBD”) products as well as up to 43,600 kg of products with high-tetrahydrocannabinol (“THC”) psychoactive cannabis content
  • Flora Growth’s Cosechemos cultivation facility in central Colombia is currently capable of producing 600 kg of dried cannabis daily, as well as over 10,000 kg of cannabis derivatives annually under EU-GMP guidelines

During the past 10 years, the Colombia’s administration has made substantial strides in ushering in a new era of successful social policy dealing with its storied history (https://cnw.fm/9ludl) and last year President Ivan Duque opened the latest chapter when he helped spearhead efforts to legalize commerce in dried cannabis flowers and biomass for medical purposes and establish a regulatory framework for global cannabis export (https://cnw.fm/M4Fi7). 

The country’s new openness to the legal international market for cannabis derivative products is fueling the explosive energy that global cannabis brand builder Flora Growth (NASDAQ: FLGC) has shown in building an international supply chain and distribution networks.

Flora Growth operates a 100-hectare (about 247-acre) cultivation facility known as Cosechemos in the heart of Colombia’s lush green environs, and the company has filed licenses for more than 20 cannabinoid-infused food and beverage products with Colombia’s food and drug regulatory body, including juices, sparkling seltzers, gummies, chocolates, ghee butter and healthy snack foods that prioritize natural ingredients and value-chain sustainability (https://cnw.fm/7Tahj). 

On April 4, the company issued a news release celebrating Colombia’s final passage of Resolution 539, which establishes the cannabis flower regulatory checklist that enables licensed cannabis cultivators with export quotas, including Flora, to pass a mandatory approval process for the export of both non-psychoactive CBD and the drug product THC flower.

“Flora applauds the recent announcement by the Colombian Government as we have been working diligently to have all the necessary approvals and capabilities available to produce high THC flower, including multiple cannabis strains with THC levels over 20 percent,” Chief Commercial Officer Jason Warnock stated in the news release (https://cnw.fm/yg98B). “This resolution also clears the path to export dried CBD flower to markets including the United States where Flora already sell hundreds of CBD products via owned brands like JustCBD, MIND, and Mambe.”

Last month, the company announced that the government’s Ministry of Health and Social Protection had expanded approval for its product exports to include not only cannabis derivative products with less than 1 percent of the psychoactive THC compound but also up to 43,600 kg of high-THC cannabis for health and wellness products (https://cnw.fm/Dz1Zb).

Cosechemos is currently capable of producing 600 kg of dried cannabis daily, as well as over 10,000 kg of cannabis derivatives annually under EU-GMP guidelines. The ability to include shipments of dried cannabis flower with derivatives exports to Flora subsidiaries Flora Lab in Bogota, Colombia, and JustCBD in Fort Lauderdale, Florida, helps the company complete the vertical integration of portfolio products including CBD edible, topicals, and other infused products.

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 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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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Denver Hotel First in US to Obtain Cannabis Consumption Site License

Denver, Colorado, has always been a major attraction as a travel destination, and tourist numbers have put pressure on the hotel industry to ramp up. When state law was passed allowing nonresidents to purchase marijuana, tourist numbers shot through the roof. The only black spot to this situation was the ban on the public consumption of marijuana, hence tourists and residents had to sneak around to find where they can indulge. That is now changing. The Patterson Inn has made history across the country by receiving the first license to operate an indoor cannabis consumption lounge hosted within a hotel.

The Patterson Inn is housed in a luxurious castle and it is part of the 420 Hotels. Chris Chiari, the CEO of this hotel, says that he was first in line with his application once the city of Denver modified its rules in order to allow the licensing of consumption lounges for marijuana. A provisional license has been issued in this regard, and Chiari can’t wait to renovate the castle so that it is ready to welcome cannabis consumers at the end of this year.

To the CEO of 420 Hotels, marijuana hospitality is one of the novel developments in the overnight hospitality sector, and the group is excited to be the first to obtain authorization to open a consumption lounge inside hotel premises.

Chiari also sees the permission to operate a cannabis lounge as an important step in the fight to end the stigmatization of cannabis use and possession. He says he has been in this fight for about a decade and that those efforts are beginning to pay off. The ongoing renovations are being paid for by money collected through Republic.com, a platform that enables equity funders to find ventures they can support with their money.

The 420 Hotels is counting down the days until it can open its doors to people who are curious about cannabis as well as those who are seasoned consumers looking for a new experience with this versatile yet often controversial plant. It remains to be seen how this new development of allowing public consumption sites for marijuana will transform the industry not just within Colorado but across the nation where prohibition was ended.

As prohibition and stigmatization is peeled back layer by layer, the market will keep broadening for established firms such as Advanced Container Technologies Inc. (OTC: ACTX) in the different jurisdictions where they operate.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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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CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – O’Cannabiz International Conference and Expo Slated for June Return to Toronto

The O’Cannabiz International Conference and Expo is heading back to Toronto this year; the three-day event is scheduled for June 1–3, 2022. The event is designed for cannabis industry entrepreneurs, growers, researchers, suppliers and retailers, as well as cannabis product consumers. Participants will learn about an array of diverse topics covered in more than 70 breakout sessions and workshops and discussed by more than 180 presenters. In addition, the event features a 50,000,000-square-foot expo hall that spotlights hundreds of exhibitors coming from all corners of the cannabis industry. The event networking opportunities are also invaluable. “We’re pleased to announce we’re back after the unavoidable COVID-19 rescheduling,” said O’Cannabiz CEO Danya Dixon in the press release. “As Canada’s premier cannabis event, we’re excited to welcome back all of our committed partners, sponsors, exhibitors and ticket holders. We appreciate your continued patience and understanding through this transitionary period. Your support has been immensely important and will be a key part of making the 2022 O’Cannabiz Conference and Expo the must-attend event for everyone in the cannabis community.”

To attend the event, visit https://cnw.fm/0vYle

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

About O’Cannabiz Conference & Expo

Voted the no. 1 cannabis event in Canada by “High! Canada” magazine, O’Cannabiz is known for its ability to showcase and promote the people, businesses and brands that are making a difference as cannabis continues its path toward global acceptance. Many of these visionaries will be celebrated during the second annual O’Cannabiz Industry Awards Gala, slated for the evening of June 1, 2022. The producers of O’Cannabiz have decades of experience producing national profile events and creating global connections between business communities in the arts, broadcasting, media, and technology. They have organized trade summit initiatives with governments around the world and have worked closely with sponsors at all levels of the Canadian government. For more information, visit www.OCannabiz.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)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Congress Appoints Negotiators to Finalize Manufacturing Bill with Possible Cannabis Banking Protections

Cannabis banking has been a contentious issue since states started legalizing medical and recreational cannabis. Since federal law prohibits the cultivation, production and sale of cannabis, most financial institutions refuse to work with businesses in the cannabis space. This forces marijuana businesses to operate on a cash-only basis, which significantly increases the risk of robberies and prevents these companies from accessing much-needed capital.

After years of advocating for access to financial services, the cannabis sector is a step closer to its goal after Congress appointed negotiators to finalize a manufacturing and innovation bill that would protect banks that choose to service cannabis businesses. Additionally, Rep Maxine Waters, who chairs the House Financial Services Committee, has listed the Secure and Fair Enforcement (SAFE) Act as a priority for the panel. In a recent press release, the committee noted that operating on a cash basis has led to significant public safety risks and makes it easier to engage in money laundering and tax evasion.

According to Safe Banking Act sponsor Ed Perlmutter, more than two-thirds of the America COMPETES Act Conferees have voted for or cosponsored the SAFE Banking Act. Even though he wasn’t appointed to the conference, Perlmutter says that he appreciates the support his legislation has received from the Financial Services Committee.

He says that it is now time to raise awareness of the public safety problem caused by the lack of access to banking in the cannabis space and to include his cannabis banking legislation in the America COMPETES package. The House of Representatives has passed some form of the SAFE Banking Act six times, but the legislation has repeatedly stalled in the Senate.

Alternatively, history may well repeat itself, and the bill could fail to advance past the Senate. Senate majority leader Chuck Schumer has made it clear that he would rather pass comprehensive cannabis reform before a cannabis banking bill. In December, several lawmakers expressed their frustration with Schumer and the Senate for failing to include cannabis banking protections in the National Defense Authorization Act (NDAA).

Democrats have a very slim majority in the Senate and likely won’t be able to pass any cannabis bill without winning over GOP legislators. Furthermore, none of the GOP senators appointed to the conference have cosponsored the SAFE Banking Act, and Senate Minority leader Mitch McConnell has shown his displeasure at House Democrats including cannabis banking provisions in the America COMPETES Act. The fate of cannabis banking protections along with the concerns of marijuana industry actors such as Cannabis Strategic Ventures Inc. (OTC: NUGS) now remains in the hands of the negotiators who will work out a manufacturing law that can be approved for enactment.

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

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

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CannabisNewsBreaks – Organa Kannalytics Releases Dates for 2022 Southeastern Hemp and Medical Cannabis Convention

Organa Kannalytics, an advocacy organization seeking to bring legitimacy to the hemp and medical cannabis industry through science and education, is hosting the upcoming Southeastern Hemp and Medical Cannabis (“SHMC”) Convention. The event is scheduled for May 12–14, 2022, and will be a live event held in Atlanta and streamed online. The event agenda includes inspiring speakers, insightful breakout sessions and invaluable networking opportunities, making this two-day gathering a can’t-miss convention. In-depth discussion will focus on medical use and practices, business opportunities in the hemp and cannabis space, scientific advancements, and local, state and national legislation impacting the growing cannabis and hemp industry. Speakers include Grammy award-winning producer Dallas Austin and former NFL wide receiver Tavarres King, who will be joined by renowned physicians and experts in the health and wellness, legal, business services, agriculture, regulatory, financial, technology, horticulture, quality assurance and research sectors within the hemp and medical cannabis industry. “We’re very pleased to be able to welcome everyone back to our live Southeastern Hemp and Medical Cannabis event for 2022, after postponing the conference scheduled last year due to the pandemic,” said Organa Kannalytics CEO Bridgett Graham in the press release. “Attending this event, in-person or online, will benefit entrepreneurs, growers, scientific professionals, suppliers and distributors as well as retail business owners in the hemp and medical cannabis industry, in addition to the consumers of their products and those searching for answers to their health and wellness issues.”

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

About Organa Kannalytics 

Organa Kannalytics, headquartered in Atlanta, is a consulting agency, medical cannabis dispensary and educational research center. The agency is the organizer of the annual Southeastern Hemp and Medical Cannabis conference. Organa Kannalytics’ mission is to bring legitimacy to the hemp and medical cannabis industry through science and education. For more information about the company, please visit www.OrganaKannalytics.com

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