420 with CNW — Congressman Calls for Passing SAFE Banking Act Prior to Broader Law Reform

After months of telling the public that they were working on a federal cannabis bill, Senate Majority Leader Chuck Schumer, te Finance Chairman Ron Wyden, and Senator Cory Booker have unveiled their legislation for public comments. However, before Congress has the chance to look at and advance the Cannabis Administration and Opportunity Act, a Congressman would like lawmakers to pass a cannabis banking bill. Rep. Ed Perlmutter, who introduced a bill that would protect banking institutions which work with businesses in the cannabis space, has urged lawmakers to pass the legislation while lawmakers consider broader cannabis reform.

Despite being allowed in more than two dozen states, cannabis is still considered a Schedule I drug by federal law. Consequently, cannabis businesses have been locked out of a variety of crucial services including banking. Fearing reprisals from the federal government, banks as well as credit institutions have refused to work with the state-legal cannabis industry, compelling cannabis firms to work on cash-only terms. The Secure and Fair Enforcement (“SAFE”) Act was introduced to protect banks that work with businesses in the legal cannabis space without fear of federal retaliation.

Now that the Cannabis Administration and Opportunity Act has been unveiled for public comment, Perlmutter says the industry urgently needs the SAFE Banking Act to pass. Forced to rely on only cash payments, cannabis businesses often have large sums of money on-site, putting them at great risk of burglaries and robberies. Additionally, the coronavirus can survive on paper currency for up to 28 days, meaning businesses that don’t use cashless payment platforms increase the likelihood of both their employees and customers contracting the virus.

Thanks to its narrow focus, the legislation also has a much higher chance of advancing in the Senate compared to the comprehensive legislation bill. Speaking at a recent interview, Perlmutter stressed that it was important to pass the SAFE Banking Act as soon as possible to reduce the risk associated with keeping large sums of money on-site. It is the first of many federal cannabis reforms, he says, and it will help make the industry significantly safer and more equitable.

Despite the fact that this bill could have positive and wide-ranging effects on the state-legal cannabis industry, it has plenty of detractors, especially in the Senate. Some lawmakers feel that advancing the SAFE Banking Act would be putting industry interests over social equity, and Booker has said that he will block any senator who tries to push the cannabis banking legislation before comprehensive cannabis reform advances.

The enactment of policy reforms easing the regulatory hurdles and grey areas faced by cannabis companies such as Simply Sonoma Inc. would go a long way toward facilitating further growth in this sector. which employs a significant number of people and brings other benefits to society.

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 — Feds Finance Research into Use of Hemp as Ecofriendly Insulation

The U.S. Department of Energy (“DOE”) is funding a project to develop hemp fiber insulation, which in comparison to traditional preparations, is said to be better for both public health as well as the environment. In addition to awarding almost $200,000 to facilitate research, the department granted Hempitecture’s COO Tommy Gibbons a yearly stipend of $90,000.

The DOE is especially interested in the firm’s HempWool product, which is said to be a high-performing and extremely sustainable insulation material. The hemp-based product, which has a low carbon footprint and strong thermal resistance, is a nontoxic alternative to conventional insulation.

In an interview, Gibbons stated that the Department of Energy was interested in the insulation’s potential for decarbonization as well as that of other building materials that have been manufactured using hemp fibers. The company is planning to carry out research and test proprietary blends of its insulation material in an attempt to enhance its fire resistance and insulation value. This is in addition to improving onshore manufacturing of insulation products that use industrial hemp waste obtained from farmers in America.

A description of the project notes that the emphasis on low-carbon, healthy building materials has prompted a search for solutions from the government as well as consumers to reduce the huge footprint of the built environment and reconstruct better infrastructure. The department’s Innovation Crossroads program is also working to fulfill a goal set by the Biden administration that would reduce carbon emissions and increase the use of clean energy.

With the grant awarded to Hempitecture, the DOE appears to be recognizing what experts and stakeholders have previously stated: hemp is an environmentally friendly and sound investment.

In other news, the Environmental Protection Agency (“EPA”) had announced earlier this year that it would be awarding a grant of $100,000 to a company headquartered in Washington state. The agency stated that the grant would help support the development of more sustainable bricks manufactured using industrial hemp.

Among the companies to receive the grant under the agency’s innovation research program was Earth Merchant, which produces OlogyBricks. OlogyBricks are considered to be an alternative to construction bricks manufactured from concrete and other materials as they are carbon negative, lightweight and durable, in addition to being hemp based. In a notice, the EPA stated that the hemp-based product would improve indoor air quality and energy efficiency in single-family homes, among other architectural applications.

Nearly three years ago, the agency also awarded a $12,000 grant to a research team from the University of California to facilitate research on how to use hemp as a renewable fiber in construction. The success of this hemp insulation research would unearth an economically viable use for the hemp waste left after companies such as Grapefruit USA Inc. (OTCQB: GPFT) have extracted CBD from hemp biomass.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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CannabisNewsBreaks – InvestorBrandNetwork, HempWire to Heighten Visibility of Upcoming Southern Hemp Expo

InvestorBrandNetwork (“IBN”), an innovative corporate communications firm and content distributor, today announced its collaboration with the producers of the Southern Hemp Expo. The event, produced by We Are For Better Alternatives (“WAFBA”) and Colorado Hemp Company, is slated to take place at the Raleigh Convention Center in Raleigh, North Carolina, on Sept. 2-4, 2021. InvestorBrandNetwork will serve as the event’s official media partner with HempWire (“HW”) named as the conference’s official newswire. Set to return in an in-person format, the Southern Hemp Expo will feature a robust lineup of industry experts, leaders and exhibitors in three days of live education programming and seminars. “Our teams have enjoyed working with WAFBA and the Colorado Hemp Company to maximize the success of next week’s Southern Hemp Expo,” said Jonathan Keim, communications director for IBN and HempWire. “We will continue to leverage our communications solutions to heighten visibility in advance of the event and also widen the reach to additional online audiences through compelling coverage when the event is underway.”

To view the full press release, visit https://cnw.fm/DZ1jv

About InvestorBrandNetwork

InvestorBrandNetwork (“IBN”) consists of financial brands introduced to the investment public over the course of 15+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of client-partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.

Through NetworkNewsWire (“NNW”) and its affiliate brands, IBN provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) full-scale distribution to a growing social media audience; (5) a full array of corporate communications solutions; and (6) a total news coverage solution.

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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 – American Cannabis Partners Featured in Latest Episode of ‘Bell2Bell’ Podcast

American Cannabis Partners (“ACP”), a sustainable Jamaican experience canna-business innovator, was featured in the “Bell2Bell Podcast,” a part of InvestorBrandNetwork’s (“IBN”) sustained effort to provide specialized content distribution via widespread syndication channels. ACP’s CEO Stephen Jordan joined the latest episode to discuss the company’s business model and strategic approach to minimizing shareholder risk. “American Cannabis Partners (‘ACP’) is a multistate operator. We have farms in Northern California as well as the state of Michigan,” Jordan said. “We have 11 cultivation licenses totaling about 560,000 square foot of canopy space. These are acquired licenses, so it is fully legit. We have a retail license in the state of Michigan, as well. One of the biggest things for us … is assets and safety. That’s one of the hardest things to find in this industry. A lot of people and a lot of companies have products, but they’ve placed themselves in very strenuous liability situations. If they can’t make a product, they no longer have a company. ACP took the opposite direction.”

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

About American Cannabis Partners

American Cannabis Partners is a fully licensed, large scale and 100% organic cannabis cultivation company nationally headquartered in Trinity County of the Emerald Triangle. Guided by business professionals and cultivators, the company focuses on four industry segments: real estate, cultivation, medical research, and nonprofit groups. For both medical and recreational, American Cannabis Partners supplies multiple forms of raw product at wholesale prices for manufacturing, distribution and retail licenses. Its commodity pricing model enables stable profit margins for customers, aiding the company’s expansion into multiple states. For more information, visit the company’s website at www.ACPFarms.com.

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

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420 with CNW — Why Similar CBD Products Often Have Different Prices

The difference in the prices of CBD products around the world has become more obvious in the past year. Since the coronavirus pandemic began, the demand for these products has risen significantly, and so has the production of cheap and expensive CBD products. Currently, the price difference between the least and most expensive products is about 4,715%.

The gap is too large to be overlooked, given most CBD products are often used for various medical conditions, which is why these products should be evenly priced, thereby allowing everyone to have access to them.

What is causing this huge difference in cost?

The cultivation method used

Marijuana and hemp are the major types of cannabis plants. The former contains more than 0.3% THC while the latter has less than 0.3% THC. The price of CBD products is dependent on the type of cannabis plant cultivated.

Not every individual can grow cannabis plants that are rich in CBD. This is why the prices are usually lower in states where more individuals can grow cannabis plants that contain high levels of CBD.

The product type

CBD can be infused into different products including oils, tinctures, creams and gummies.

CBD oil and edibles are currently the most expensive products on the market, and with the demand for CBD oils increasing, this may not change any time soon.

How the product is packaged

Some companies invest a lot into products packaging and sales. While appealing packaging doesn’t mean that the product is the best quality, this doesn’t stop companies from adding an expensive price tag to their products.

The method of extraction

The technique used to extract CBD from the cannabis plant may also influence the product’s price. Some techniques, including CO2 extraction, are expensive but extract high-quality CBD. However, not all companies can afford to use this extraction method for mass production, so they use more affordable methods, including ethanol and infusion extractions. Companies that use more affordable methods can sell their products at lower prices.

The ingredients used in the product

Quality organic ingredients such as olive oil and MCT oil are sometimes used by companies to justify their expensive price tags.

It is important to keep in mind that some companies claim to make use of these ingredients but don’t actually, while others may use toxic substances to help reduce costs and maintain the lower prices at which they sell their products.

Do your own research and read a certificate of analysis before buying a product. And if you can, look for reviews and seek advice from your physician. Identifying a reputable CBD manufacturer, such as Golden Triangle Ventures Inc. (OTC: GTVH) for example, can assure you are obtaining consistently high-quality cannabidiol products that will address your needs.

NOTE TO INVESTORS: The latest news and updates relating to Golden Triangle Ventures Inc. (OTC: GTVH) are available in the company’s newsroom at https://cnw.fm/GTVH

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420 with CNW — Gallup Poll: Nearly 50% of Adult Americans Have Used Marijuana

Cannabis is more popular among Americans than it has ever been. After decades of prohibition, the past few years have seen dozens of states pass cannabis legislation, and thanks to constant demand, the nascent state-legal cannabis industry has already generated billions of dollars in revenue. The controversial plant has been the most-used drug in the United States for years and according to a recently released poll by Gallup, nearly half of the adults in the country have consumed cannabis at one point in their lives.

An estimated 49% of American adults have used cannabis at some point in their lives, analytics and advisory company Gallup says. The Washington-based firm has been running annual consumption habits polls for more than 50 years, and this is the highest percentage it has measured to date. More than 50 years ago, only 4% of Americans reported that they had tried cannabis, with the percentage gradually increasing to 20% in 1977, 30% in 1985 and 40% in 2015. Only 12% revealed that they smoked marijuana regularly.

According to Gallup, the proportion of American adults who smoke cannabis was 7% in 2013 and varied between 11% and 13% in recent years. This group skewed younger, with data collected from 2015–2021 showing that 20% of millennials smoke marijuana compared to 11% of gen Xers and 9% of baby boomers. However, polls did not contain data from gen Zers, the oldest of whom would be 24, as Gallup hasn’t collected sufficient data from them yet. The differences in cannabis use rates were mostly generational, with the older folk being less likely to try cannabis.

Older Americans born before 1945, for instance, were the least likely of all the generations to have tried marijuana with only 19% saying they had tried with marijuana. On the other hand, 51% of millennials, 49% of Gen Xers, and 50% of baby boomers have experimented with cannabis at least once in their lives.

Data from Gallup polls conducted from 1985 to 1999 shows that 44% of gen Xers and 50% of baby boomers had already tried cannabis by then. Only 10% of traditionalists, or individuals born before 1945, had tried marijuana by then and, as of the latest consumption habits poll, just 1% of traditionalists smoke marijuana compared to 20% of millennials.

Gallup polls also indicated that 16% of men and 9% of women have tried cannabis. Education levels also affected usage rates, with 14% of those with a four-year degree or less and just 5% of those with postgraduate education saying they use marijuana. On the political spectrum, 22% of liberals, 15% of Democrats, 6% of conservatives and 7% of Republicans reported using cannabis regularly.

These statistics regarding the number of Americans who have ever used cannabis suggest that marijuana companies such as Flora Growth Corp. (NASDAQ: FLGC) can look forward to even better years ahead given that attitudes to marijuana are changing fast and federal legalization may not be far off.

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

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CannabisNewsBreaks – Simply Sonoma Aims to Put Renowned County on the Map for Exceptional CBD-Infused Formulations

Simply Sonoma is a therapeutic-focused CBD company concentrating on sleep aids, gut health, pain and inflammation, and skin and beauty products. “The company has developed plant-based CBD infused products centered around the agriculture of Sonoma County, California, known for its excellent wines, fruits and veggies, and now the company aims to put it on the map for exceptional organic plant-based CBD infused, and research- backed formulations. . . . From personal experience, and the trials and tribulations of friends and family, Simply Sonoma has taken notice of the medicinal utility of CBD and cannabis,” reads a recent article. “As scientists, they were initially skeptical, but seeing firsthand family member experiences with pain relief was very convincing. Additionally, there is now a significant amount of research that has been done on the endocannabinoid system in the human body, which seems to back up the anecdotal reports. . . . Simply Sonoma offers alternative products that are more lifestyle focused and round out the experience with education on how to effectively use CBD on a daily basis.”

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

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

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420 with CNW — Four States Notch Record-Setting July Cannabis Sales

Last month was an extremely profitable and productive month for the cannabis industry in different states across the country, with business owners reporting record-breaking sales. This trend has been observed in various states as the marijuana markets mature, which is impressive, especially when one considers how the marijuana industry has flourished despite the COVID-19 pandemic.

Below are some of the few states that posted new sales records in the month of July.

Missouri

Medical marijuana sales in the state of Missouri surpassed $20 million last month, with analysts noting that this amount was mainly attributed to growing patient enrollment in the state’s medical cannabis program and new dispensaries opening in the state. The total medical cannabis purchases made in the state thus far equate to roughly $90 million.

Michigan

Data released by a regulatory body in the state of Michigan shows that recreational sales in July broke another record, with more than $170 million in marijuana transactions.

The month of July saw $42 million in medical marijuana sales and $107 million in adult-use marijuana sales. The total tax revenue generated last month translates to about $22 million, most of which will be allocated to individual jurisdictions, public education and infrastructure projects.

Most of July’s recreational sales went to edibles, which brought in about $18 million; vape cartridges, which brought in roughly $26 million; and flower marijuana products, which raked in almost $64 million.

Maine

A 45% increase from June’s sales record was observed in the state of Maine, with adult-use cannabis sales reaching almost $9.5 million. Local papers reported that marijuana business owners attributed the increase to tourism and the Fourth of July holiday.

The state’s retail market for recreational marijuana was established in October 2020 and has grown in popularity, with July 2021 being the first time adult-use sales matched the state’s medical cannabis sales.

Illinois

In comparison to July 2020, the state of Illinois recorded double its total monthly sales, bringing in about $127 million in recreational marijuana purchases last month. Residents of the state also bought more than 2.8 million individual marijuana products last month, which represents another record.

The state’s Department of Financial and Professional Regulation revealed that out-of-state visitors contributed to about $41 million in sales while residents of the state bought $86 million in cannabis.

This new record makes July the fifth consecutive month that sales in the state’s adult-use market have surpassed $100 million. Estimates indicate that the state may collect more than $1 billion in adult-use cannabis sales this year if the trend continues.

These record-setting cannabis sales point to the possible success of companies, such as American Cannabis Partners, that are active in jurisdictions with thriving legal-marijuana markets.

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

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420 with CNW — As Cannabis Legalization Spreads, Companies Are Reconsidering Drug Policies

America’s increasingly liberal attitude regarding cannabis consumption has started to impact workplace policies. For decades, both federal and state law outlawed cannabis, which was in turn mirrored in workplace policies across the country. Most employers had a zero-tolerance policy on cannabis, with some even requiring regular drug tests and firing employees who failed. But with cannabis reform sweeping the nation, companies are starting to reconsider their drug policies.

This became increasingly clear when Amazon, the largest player in the e-commerce market with 1.3 million employees around the world, announced that it would cease testing job seekers for marijuana. A lot of businesses had been revising their drug policies in the wake of increased cannabis legalization, but Amazon’s announcement showed that the cannabis reform movement was gaining major traction. However, president and CEO of the Illinois Chamber of Commerce Todd Maisch says that while plenty of companies are relaxing their attitudes toward cannabis, there’s still plenty that aren’t.

No business wants their employees to be impaired while on the job, he says, but for a lot of them, the days of random drug tests are drawing to a close. It ultimately depends on the type of business, with some having a lot of flexibility regarding their drug policies and others being unwilling and in most cases unable to relax their drug policies. For instance, businesses in construction whose employees have to use heavy machinery have to maintain a drug-free policy to keep their staff safe while on-site as well as to limit their culpability in case an impaired employee is involved in a workplace accident.

Additionally, entities and individuals that have contracts with the federal government are required to stay clear of all drugs, even the ones that are state legal, because drug use is outlawed by federal law. As such, Maisch says, the evolution of workplace policies regarding cannabis consumption has had two approaches, with some companies adapting to the changing times and others digging their heels in and adhering to federal policy on cannabis. Fortunately for cannabis-reform proponents, current events have influenced how employers treat cannabis.

The pandemic had a historic effect on the job market, forcing a lot of industries to slow down in the wake of lockdown orders and promoting a work-from-home culture. More than a year after the coronavirus struck and as the world started opening up, people began questioning the job market and demanding fair pay and benefits. This has led to a labor shortage of the likes we have never seen before, and employers are scrambling to hire employees who are willing to join their ranks.

Thus, employers across the country are ready to loosen their workplace policies, especially regarding off-duty cannabis use, Maisch says. This easing of restrictions is likely to open up even more the clientele for cannabis products made by companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) since more people will be willing to consider cannabis usage during their off-duty hours.

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

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CannabisNewsBreaks – BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE:7BC) Eyes White-Label Opportunity in Expanding Market

BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health and wellness beverage and natural products company, is looking to leverage its position in the growing market as a white-label manufacturer of infused-cannabis beverage brands. A new report that forecasts the cannabis beverage market will grow at 17.85% CAGR from 2019 to 2025 has companies such as BevCanna anticipating increased numbers as well. A recent article, which contains excerpts from the report by Million Insights, notes, “‘The increasing demand for the health and wellness drink is boosting the market growth,’ the report states… Another insight offered by the report is the rising demand for cannabis drinks from cafes, restaurants, lounges and clubs as ‘the changing consumer preference and decline in the sale of alcoholic drinks is increasing beverage consumption.’ All these factors combine to fuel the anticipated growth in the expanding cannabis beverage market. Because BevCanna is a diversified health and wellness beverage and natural products company, the company is particularly well qualified to meet the demand for these types of drinks.”

To view the full article, visit https://cnw.fm/c8IKg

About BevCanna Enterprises Inc.

BevCanna Enterprises is a diversified health and wellness beverage and natural products company. BevCanna develops and manufactures a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients. With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, BevCanna owns a pristine alkaline spring water aquifer and a world-class, 40,000-square-foot, HACCP-certified manufacturing facility, with capacity of up to 210 million bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with number-one U.S. cannabis beverage company Keef Brands. For more information about the company, visit www.BevCanna.com.

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