Category: CannabisNewsWire Release

CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Subsidiary Receives Cannabis Cultivation License, Commences Grow Operations

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, announced that its subsidiary, Red White & Bloom Florida LLC, has received approval to begin growth operations at its 45,000-square-foot greenhouse in Apopka, Florida. The company has completed phase one of its cultivation strategy and is in the midst of a three-phase development plan for two Florida cultivation centers. The centers are part RWBYF’s plan to produce adequate inventory for existing and new dispensary openings planned for Q1 2022. The company had plants at the greenhouse ready to plant as soon as approval was receive; the growth operations began on Sept. 30, 2021. According to the announcement, projected flower production at the Apopka-licensed facility is 85 g per plant, or almost 10,000 pounds of dried flower per year, with projected annual revenue of more than $10 million. Phase three of Red White & Bloom’s Florida launch is the planned activation of its 113,000-square-foot indoor grow facility in Sanderson, Florida. “We brought this site into production ahead of forecast and ahead of budget, and I’m very proud of our Florida team,” said Red White & Bloom CEO Brad Rogers in the press release. “Despite being relatively new players in the Florida market, I feel we have the most talented team of PhDs and horticulturalists, and an incredible grow infrastructure to bring the highest quality products, rich in terpenes and cannabinoid content, to some of the best retail locations in the state starting in Q1 2022.”

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

About Red White & Bloom Brands Inc.

Red White & Bloom Brands is positioning itself to be one of the top-three, multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Florida, Arizona and California, with respect to cannabis, as well as 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.

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420 with CNW — Key Mexican Senator Outlines Cannabis Legalization Steps

Three years ago, the Supreme Court in Mexico ruled that the country’s ban on cannabis consumption was unconstitutional, ending decades of cannabis prohibition and requiring that lawmakers reform cannabis laws. Mexico’s Congress was granted a deadline to repeal prohibitionist cannabis policies, now considered unconstitutional, but policymakers failed to do so within the allotted time. Both chambers of Congress spent months discussing and working on a legalization bill, repeatedly asking the court to extend the deadline.

Last year, the Senate passed a bill and sent it to the Chamber of Deputies, which made revisions and sent it back. However, after a few Senate committees took up and cleared the amended measure, some leaders stated that the amendments made the legislation unworkable. This June, three years after the Supreme Court first declared that cannabis prohibition in the country was illegal, the Senate voted to put an end to prohibition on its own after lawmakers failed to act in time. However, since all the top court did was decriminalize cannabis, the country still did not have regulations for legally sanctioned sales.

Now a top Mexican senator has indicated that lawmakers may finally pass a cannabis legalization bill during the new session. During a press conference, Senate Majority Leader Ricardo Monreal Avila said that lawmakers plan on filling this gap, which is the lack of regulations, during this session. They have a chance to deliberate upon and approve the “long-overdue law,” he says, ending a century of cannabis prohibition and criminalization. The legislation would in turn open the country to a nationwide and international multimillion dollar market and help to reactivate Mexico’s economy.

The cannabis legislation passed by the Senate may need further revisions before it is ready for passing during this session, Avila noted, including modifications to tax collection frameworks. Both chambers need to strive to create a bill that guarantees the freedoms and rights of all people involved, eradicate discriminatory treatment, in addition to “solve possible ambiguities,” says Monreal. Back in April, he urged lawmakers not to allow commercial interests, especially the tobacco and pharmaceutical industries, to pressure them to prematurely pass a bill, stating that it was important they take their time to formulate an equitable and socially conscious bill.

But Senator Eduardo Ramirez Aguilar from Morena said at the time that lawmakers should pass the bill as it was presented to them and work on fine-tuning it later through additional revisions. As it is, the cannabis legalization proposal allows adults who are at least 18 years old to purchase as well as possess a maximum of 28 grams of cannabis as well as grow up to six plants for their personal use.

For internationally focused cannabis companies such as Flora Growth Corp. (NASDAQ: FLGC), the developments in nearby Mexico could be of great interest since they have the potential to impact the dynamics of the international marijuana industry.

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

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420 with CNW — Congresswoman Previews Hemp Legislation That Will Ease Industry Restrictions

Hemp was federally legalized under the 2018 Farm Bill, which allowed farmers to begin growing this multifaceted crop. However, Congressional legislators are still working on changes to laws which govern the crop. Recently, Rep. Chellie Pingree previewed a bill that would ease restrictions on this flourishing industry.

The bill, called the Hemp Advancement Act, includes a provision that will remove a ban that prevents individuals with felony drug convictions that date back to the last decade from acquiring a business license for the crop or participating in the market. Pingree stated that the provision disproportionately excluded people of color from taking part in this burgeoning market. She explained that the measure’s intention was to make the U.S. Department of Agriculture’s (“USDA”) rules more workable for both processors and growers.

The legislation also seeks to increase the hemp and hemp extracts threshold for THC. Under the federal statute, hemp is defined as containing not more than 0.3% THC. This amount may sometimes increase during the process of production, which may cause issues for businesses involved in the industry. The legislation would offer relevant safeguards against this.

In addition to this, the measure would eliminate a USDA requirement that states that the crop should only be tested at labs registered with the United State Drug Enforcement Agency (“DEA”). Stakeholders have been calling for this reform for quite some time, arguing that this requirement will create bottlenecking of hemp testing, which may hold this burgeoning industry back.

Earlier in the year, Reps. Morgan Griffith and Kurt Schrader filed a separate legislation calling for  CBD derived from hemp and hemp to be sold as dietary supplements. This is another source of controversy, given that the present lack of regulations from the FDA is seen as a barrier for the industry’s growth.

In the Senate, Sens. Jeff Merkley, Rand Paul and Ron Wyden also filed a measure that would exempt CBD derived from hemp, hemp and substances that contain any ingredient derived from hemp from restrictions which have hindered the emergence of legal consumable hemp products. Additionally, Paul introduced a separate initiative in earlier this year that would increase the concentration of THC that hemp can legally contain by three times while also addressing other issues the industry has highlighted about the federal regulations.

Legislators have been pressuring the FDA to adopt new regulations that would provide for such since hemp was federally legalized.

For hemp/CBD focused companies such as Simply Sonoma Inc., any changes to the existing hemp laws could have immediate effects.

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

About CNW420

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

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420 with CNW — New Report Forecasts Significant Growth for Global Marijuana Sales

A new report that focuses on the rapid growth of both recreational and medical marijuana sales has been released by New Frontier Data. The report looks at what to expect in the international marijuana industry over the next couple of years, while analyzing the future and current trends in the international markets of Africa, Asia, Oceania, the Caribbean, Latin America, Europe and North America.

In a letter included in the report, Giadha A. DeCarcer, executive chair, publisher and founder of New Frontier Data, stated that the industry would continue to expand and grow. DeCarcer explained that when the first global marijuana industry report was released in 2019, it was clear that the legalization of marijuana would prove to be a significant socioeconomic movement of the present period, noting that in two years, the number of countries that had legalized some form of marijuana had increased to 70, adding that there were 10 countries that had legalized adult-use marijuana.

The report states that last year, the combined total of recreational and medical marijuana sales in the United States was roughly $20 billion, with regulated markets selling almost $24 billion in high-THC marijuana product.

In Canada, about $2 billion in high-THC marijuana products were sold last year. The report notes that the constant increase in marijuana sales in both Canada and the United States could cause sales to increase to roughly $50 billion by the year 2025. The report also found that in countries outside North America, the sale of high-THC products had risen but were still lower overall. For instance, Germany collected an estimated $205 million from its medical marijuana program, which is the largest medical marijuana program in Europe.

In Spain, some provinces have regulations on marijuana sales, despite the fact that the plant is not federally legal in the country. In 2019, marijuana clubs in the country hit $430 million, which makes the country a contender for becoming one of the biggest industries globally, after the United States and Canada.

Last month, a webinar which explored the global marijuana economy’s opportunities, projections and trends was held. John Kagia, chief knowledge officer of New Frontier Data, forecasted that the rate of investment into the global marijuana industry was expected to grow. Currently, $8 billion of capital has been injected into this burgeoning industry.

Recreational marijuana sales are also expected to double medical marijuana sales by 2025. Currently, half a dozen countries have approved the sale of high-THC products while only 10 have legalized recreational marijuana use.

As overall sales grow, it goes without saying that established cannabis companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) will see a sizeable fraction of the total revenues generated.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

About CNW420

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

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420 with CNW — Humboldt County OKs $1M Grant Targeting Marijuana Growers

Despite its relatively young age, America’s state-legal cannabis industry has been insanely lucrative. In just a few short years, the sector has generated billions of dollars in revenue, created hundreds of thousands of new employment opportunities, and filling state coffers with millions in tax revenue. However, while some cannabis farmers and companies have been laughing all the way to the bank, others are struggling to keep their heads above water and barely holding on. It has gotten so bad that California’s Humboldt County has okayed a $1 million grant to help cannabis cultivators survive amid a significant drop in cannabis wholesale prices.

With a growing number of players jumping into the sector, the cannabis market has been flooded with so much product that it has outweighed demand by a significant margin. Consequently, cannabis prices have been declining, ultimately falling to a paltry $400 a pound from $1,100 a pound. As this is not enough to cover production costs let alone make a profit, the county’s board of supervisors has approved a $1 million emergency grant program to keep cannabis cultivators in Humboldt County from going under. According to Economic Development Director Scott Adair, his office has been “inundated” with urgent, desperate requests for assistance from farmers who are looking down the barrel of impending insolvency.

Extremely low cannabis prices are to blame for the current market emergency and the subsequent requests for aid and relief, says Adair, with market prices now being too low to cover the cost of cultivating, processing and distributing cannabis. As such, the program will offer grants of up to $10,000 for individual farms and $50,000 for larger, collaborative efforts. Production has also been impacted by drought, wildfires and fire-protection measures that increase costs. Furthermore, with most cannabis cultivators in Humboldt growing their crop deep in the mountains, transportation, regulation compliance and irrigation costs also add up.

All these issues affect solvency, Adair says, and there’s only so much the county can do. The grants are intended to support expenditure and activities that boost revenue or reduce other costs, not to replace lost revenue. The grants will be part of Humboldt County’s Project Trellis. Which is funded via a 10% excise tax and part of the excise tax revenue levied on marijuana sales.

With most of the surveyed farmers saying that they will be unable to make their October excise tax payments, Project Trellis may lose a large chunk of its funding. Meanwhile, the emergency program’s details will be discussed at the Oct. 6, 2021,  Project Trellis Advisory Committee Meeting.

California’s marijuana cultivation sector is facing a difficult time, and it may only be companies such as American Cannabis Partners that grow and sell their own cannabis that can still thrive.

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.

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Committed to Becoming True ‘Farm-to-Door’ Cannabis Company

Sugarmade (OTC: SGMD), an innovator in the dynamic California cannabis sector, recently updated its current and prospective shareholders to cover key milestones in the company’s strategic plan. The update included details on its growing Nug Avenue operations and additional strides toward verticalizing its model through the acquisition of California cannabis licenses and potentially establishing commercial operations in the cannabis delivery market outside of the state of California. Sugarmade CEO Jimmy Chan described as “tangible” the strides the company continues to make toward a vertically integrated model. “Our long-term strategic vision is to establish the capacity to control all aspects of production, supply, manufacturing, packaging, distribution, and delivery — to become a true ‘farm-to-door’ cannabis company. This vision should provide for better unit economics, margin growth, and gains in product quality and customer satisfaction. Organic brand growth, property acquisition, licensing and geographic expansion are all important steps toward achieving that vision for Sugarmade and its shareholders.”

To view the full article, visit https://cnw.fm/QcSh7

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand 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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CannabisNewsBreaks – Simply Sonoma Primed to Benefit from Projected Billion-Dollar Growth of CBD Space

Simply Sonoma, a CBD company focused on building a reputation as a leader in plant-based medicinal health and beauty products, is poised to benefit from the projected billion-dollar growth of the CBD space. This is according to a recent article discussing analysis by Yahoo.finance in a publication titled “CBD Market to Grow to $16 Billion by 2026 — Should You Invest?” The article, which contains excerpts from the publication, reports that increasing awareness of CBD’s therapeutic benefits has influenced buyers to purchase cannabidiol (“CBD”) products, in turn influencing commercial retailers, including those in health and wellness sectors, to now focus on selling CBD products, owing to a greater profit margin. “‘The global cannabidiol market size was valued at $2.8 billion in 2020 and is expected to expand at a compound annual growth rate of 21.2% from 2021 to 2028, according to a Grand View Research report,’ the Yahoo article reported. ‘In addition, sales of CBD products in the U.S. stood at $4.6 billion in 2020 and by 2026, this market is projected to grow to $16 billion in value, according to a Statista report.’… These are exciting numbers for Simply Sonoma.”

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

About Simply Sonoma

Simply Sonoma strives to deliver plant-based, broad-spectrum CBD products for therapeutic applications from a scientific perspective. Its products are derived from a farm rather than from a lab, with the goal of achieving fewer side effects and more efficacy for patients. Simply Sonoma believes in published, science-based trials and research with regards to its CBD creations. The company’s plants are grown organically in Sonoma County’s wine country, where sustainable farming practices are employed throughout the growing process. Solar energy helps the company to operate with a minimal carbon footprint. Simply Sonoma’s dynamic team consists of seasoned professionals from a combination of industries. Their broad experience stems from the biotech industry, grape and hemp cultivation, IT operations and communications, as well as executive positions in the health care sector. This unique combination of experience places the team well in the CBD space to dominate with wellness and lifestyle products. Simply Sonoma is focused on being a leader in the industry for plant-based, organic medicinal health and beauty products and partnering with like-minded companies to produce top-notch products. For more information, visit the company’s website at www.SimplySonoma.org.

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

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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CBDNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Poised to Become Global Leader in Manufacture of Rare Cannabinoids

InMed Pharmaceuticals (NASDAQ: INM) recently announced it had signed a definitive agreement to acquire 100% of BayMedica Inc., a U.S.-based private company specializing in the manufacture and commercialization of rare cannabinoids. InMed CEO Eric A. Adams described the acquisition as a transformative transaction for the company as it would give InMed a breadth of synthetic cannabinoid manufacturing capabilities. “BayMedica brings unparalleled cannabinoid manufacturing expertise in both chemical synthesis and biosynthesis together with industry veterans who have been pioneers in this space,” a recent article quotes Adams as saying. The article further notes that, once closed, the transaction will create a powerful combination. “It will make InMed a global leader in the manufacture of rare cannabinoids, with expertise in three distinct and complementary cannabinoid manufacturing approaches… At the same time, the combined company will continue to explore the therapeutic potential of cannabinoids and novel cannabinoid analogs for pharmaceutical drug development. It will also increase commercial sales of rare cannabinoids to the consumer health and wellness sector.”

To view the full article, visit https://cnw.fm/7rOGP

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol (“CBN”), in diseases with high unmet medical need. The company is dedicated to delivering new therapeutic alternatives to patients who may benefit from cannabinoid-based medicines. For more information, please visit www.InMedPharma.com.

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

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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420 with CNW — As Millennials Shun Alcohol, Alcohol Firms Start Eyeing Cannabis Drinks Segment

Millennials have been at the forefront of change for quite a while now. They were the first generation to grow up with the internet, and they played a significant role in the development of e-commerce. They are also holding off on homeownership, are waiting longer to marry, and have fewer kids. They are not concerned with living the way past generations did; rather, they are doing their own thing, and society tends to follow in their steps. Now, the generation’s growing aversion to alcohol may very well revolutionize the beverage industry and elevate a burgeoning cannabis segment in the process.

The past few years have seen cannabis-infused drinks enjoy increasing popularity. With cannabis technology constantly improving, cannabis companies can now create smooth cannabis beverages of all kinds of flavors. Taking advantage of a growing movement that prefers to avoid alcohol, especially among millennials and the younger generation Z, these companies are offering these drinks as an alternative to alcoholic drinks. Even alcohol beverage brands such as Guinness and Heineken have noticed a decline in the demand for alcohol among the younger generations and have pivoted by offering low or even zero-alcohol beers.

According to data from the Centers for Disease Control (“CDC”) that was analyzed by research firm Cowen, there has been a 13% drop in binge drinking rates in states with legal cannabis markets with the rates of first-use cannabis increasing as binge-drinking rates reduced. Using this data as a base, Cowen projected that the cannabis market will grow from $50 billion in 2026 to $75 billion in 2030 while alcohol brands will see flat or slow growth.

However, the cannabis beverage segment is still quite small, making up just $174 million of the $11.3 billion worth of cannabis products sold in the United States in 2018, estimates from “Fortune Business Insights” show. One reason the segment is still quite small is that the technology required to make high-quality cannabis drinks is fairly new and, thanks to federal prohibition, plenty of companies have avoided cannabis beverages.

Furthermore, cannabis companies still struggle to infuse the substance into drinks, thanks to marijuana’s pungent aroma. This means that only beer, which has a stronger flavor compared to most wines, can successfully mask the aroma. There is also the risk that comes with cannabis edibles: they take up to an hour to kick in and, in the interim, there is a chance the consumer may overindulge as they wait for the effects to kick in.

Because of that, companies have taken to infusing drinks with an amount of THC that kicks in, peaks and fades at around the same rate as alcohol. Ultimately, only time will tell whether cannabis beverages will eventually replace alcohol, at least for millennials and gen Z.

The formulations by companies such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) may play a pivotal role in drawing more adults to the cannabis drinks segment due to the improved tech being deployed during the manufacturing process.

NOTE TO INVESTORS: The latest news and updates relating to BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) are available in the company’s newsroom at http://cnw.fm/BVNNF

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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 – Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) Announces Entry into Strategic LOI

Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) today announced its entry into a letter of intent (“LOI”) for the formation of a commercial relationship with Kingston Cannabis Inc. (“KCI”), a Health Canada licensed producer, to launch its cannabis-infused beverages through a co-packing arrangement with KCI. Under the arrangement, KCI’s affiliate, Kingston Aluminum Technologies Inc. (“KAT”) will provide custom designed aluminum packaging for Sproutly’s products. In addition, KCI and Sproutly will collaborate on the consumer evaluation of Sproutly’s formulations made using ingredients produced by the proprietary APP cannabis processing technology. “This relationship will allow us to launch our beverages made with our proprietary Infuz2O extract in distinct, environmentally friendly aluminum containers with unique internal coating for better preservation of cannabis products,” said Dr. Arup Sen, CEO and director of Sproutly. “Additionally, we will utilize KCI’s research license to test our product formulations and select our 3.0 beverages for features that are preferred in consumer products that will deliver a true-to-strain, whole-plant experience.”

To view the full press release, visit https://cnw.fm/DWB9b

About Sproutly Canada Inc.

Sproutly is positioning to become a leading supplier of proprietary cannabis ingredients, brands and customized formulations for the cannabis beverage and edibles marketplaces in Canada, Europe, Australia and other international markets. Its proprietary natural water-soluble Infuz 2 O and BioNatural Oils are designed to deliver true-to-strain whole-plant experiences to new consumers and cannabis connoisseurs alike, ushering in the Cannabis 3.0 revolution. Sproutly will enter into partnerships with globally established consumer brands to leverage existing customer bases, brand recognition and distribution networks to deliver this scientific breakthrough with speed and efficiency in major commercial territories around the world. For more information on Sproutly, please visit www.Sproutly.ca.

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