420 with CNW — Forecasts Show States Will Earn Higher Tax Revenues from Cannabis in 2021

Over the past few years, America’s state legal cannabis sector has proven to be both resilient and lucrative. As one of the few industries declared essential during the onset of the coronavirus pandemic, cannabis saw increased sales month over month, providing states with much needed tax revenue at a time when their coffers were running low. More than a dozen states have already legalized recreational marijuana, and this year alone has seen New York, New Mexico, Virginia, and Connecticut pass adult use legislation, bringing the total number of states with recreational markets to 19.

As these recreational cannabis markets mature, experts predict that states will earn higher tax revenues thanks to increased sales. In 2020, California plus Colorado earned the most excise tax revenue from cannabis, earning $526 million and $307 million, respectively. According to projections for 2021, California and Colorado are expected to collect an estimated $757 million and $411 million in excise tax revenue, respectively. Alaska and Michigan, which collected the lowest excise tax revenue at $25 million and $31 million, are projected to earn $29 million and $75 million this year.

Cannabis is one of the fastest-growing sectors in the country currently generating billions in sales revenue and creating hundreds of thousands of jobs. The industry will most likely experience significant growth within the decade, especially with lawmakers initiating the process to deschedule cannabis at the federal level. Understandably, states that haven’t launched their own cannabis markets and even those with existing markets would want to cash in via cannabis taxes.

However, state regulators will have to ensure cannabis remains price competitive. Despite generating billions of dollars in cannabis sales, the industry is still plagued by the illicit market. Levying high taxes would increase the price, pushing customers to black market dealers who price their cannabis much more competitively. Colorado and Washington tax recreational cannabis via an ad valorem excise tax, which is based on the value or the cannabis. In California, cannabis is taxed with based on both an ad valorem and specific tax.

New York and Connecticut, which are some of the latest states to join the adult-use club after legalizing recreational marijuana this year, are among the only states with a potency-based tax. This tax is meant to address the possible harms that come with higher THC levels, and it would increase as the THC levels increase.

Illinois has a similar category-based tax system where cannabis flower is taxed at 10%, edibles at 20% and concentrates at 25%. As both the fledgling and older cannabis spaces mature, revenues are projected to increase.

All 19 states with recreational markets can expect increased cannabis tax revenues in financial year 2021. As those tax dollars grow, the unspoken message is that many cannabis sector players, including Grapefruit USA Inc. (OTCQB: GPFT), will also earn higher revenues and possibly improve their profitability.

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

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 — Retired NFL Player Unveils Novel CBD Products Derived from Orange Peels

If you thought you had heard it all with regard to CBD, here is a shocker: your next dose of CBD could be extracted from orange peels. Before you think this will be in the distant future, a company started by a former NFL star has launched this orange-peel -derived CBD, and you can buy yourself a bottle online today.

Peels, as the orange-peel CBD firm is called, says that its product will be purer, more consistent, more stable and have absolutely no THC in it. Chris Hetherington, the founder of Peels, explains that these benefits will make Peels’s CBD more accessible since stores that couldn’t sell the regular CBD due to concerns about THC would be able to carry this product. Additionally, individuals such as athletes, operators of heavy machinery and federal workers will also be able to use this product without any risk of failing a drug test.

Peels revealed that its product is identical at a molecular level to CBD extracted from marijuana or hemp. The company leverages its proprietary process, which entails extracting terpenes and various aromatic compounds from orange peels and then combine those substances with olivetol (a natural compound). This mixture is then subjected to intense pressure and heat in the presence of a catalyst in order to produce CBD oil.

The CBD oil produced is said to have superior absorbability as a result of the crystalline structure it has. Hetherington asserts that they label their product as CBD as a result of the similarity at the molecular level.

Peels prides itself in taking part in the circular economy around the citrus industry because the company uses orange peels, which is looked at as waste, to make a highly marketable product. This eco-friendliness is superior to the sustainability credentials of the hemp industry because lots of water and sometimes pesticides go into the cultivation of hemp, not forgetting the huge tracts of land needed for large-scale grows, says Hetherington.

KarpReilly LLC, a private equity firm based in Connecticut, invested $4 million in Peels. This funding gave the company the needed financial muscle to commercialize its product, and that is how this CBD extracted from orange peels was launched.

The CBD industry is expected to be worth $19 billion by the year 2025, especially when the U.S. FDA passes rules regulating CBD as an additive in food and drinks. This regulatory framework is expected to be released next year.

Peels company will start by selling its products directly to consumers through its website and other digital channels. This approach will also enable the company to collect valuable feedback and make decisions based on the data they collect.

It remains to be seen how the consumers of CBD products will react to the products made by Peels, especially in relation to more conventional hemp-extracted CBD products manufactured by established companies, such as The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER).

NOTE TO INVESTORS: The latest news and updates relating to The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) are available in the company’s newsroom at http://cnw.fm/WTER

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CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH Provides Potential for Significant Cost Savings to Health Care System

Lexaria Bioscience Corp. (NASDAQ: LEXX) recently announced the results of its antiviral drug molecular characterization study performed by the National Research Council (“NRC”). The results confirmed that the drugs tested remained stable and did not undergo changes in chemical structure when processed with DehydraTECH. “This could preserve the ability of this drug delivery platform to qualify for accelerated regulatory filings with the Food and Drug Administration (‘FDA’) in the United States plus regulators elsewhere in the world,” reads a recent article. “The potential for more rapid market authorization of DehydraTECH provides the potential for cost savings to the health care system to try to deliver antiviral drugs more effectively if delivered via an oral capsule instead of by injection. Delivering the medications in the form of a pill instead of a shot could help governments or health insurance companies save billions of dollars in administration costs alone.”

To view the full article, visit https://cnw.fm/An4PC

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.’s proprietary drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The company’s technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids and nicotine by up to 5-10x, reduce time of onset from 1 – 2 hours to minutes, and mask unwanted tastes. It is planned to be further evaluated for orally administered bioactive molecules, including anti-viral drugs, vitamins, non-steroidal anti-inflammatory drugs (“NSAIDs”) and more. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 20 patents granted and over 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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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 – Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) Ranked No. 1 Among ‘Oregon’s Top 10 Hottest Homegrown Brands’

Chalice Brands (CSE: CHAL) (OTCQB: CHALF), formerly Golden Leaf Holdings Ltd., a premier consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, was featured in a recent MJ Brand Insights article. The piece touted Chalice as number one among what it described as “Oregon’s top ten hottest homegrown brands,” discussing these as doing the best job leveraging their brand stories to engage discerning Oregon consumers. “So what are these brands doing right? For that we spoke with Jeff Yapp, CEO of Chalice Farms, which is, according to Pioneer Intelligence, the homegrown Oregon company that’s #1 for consumer engagement,” writes Felisa Rogers in the article “‘At Chalice Farms, our consumer engagement strategy revolves around three key elements: community, events and content,’ Yapp said. But he went on to stress that consumer engagement really starts in the store. ‘The foundation of consumer engagement is all about the experience we offer our customers in our stores, and we are completely committed to having the most knowledgeable and compassionate team in the industry.’”

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

About Chalice Brands Ltd.

Chalice Brands is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with 12 dispensaries in Portland, Oregon. The company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. Chalice Brands operates nationally through Fifth and Root and has operations in Oregon and California. Visit https://Investors.ChaliceBrandsLtd.com for regular updates.

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CannabisNewsBreaks – The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) Schedules Conference Call to Discuss Q1 2022 Earnings

The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company and The Clean Beverage Company(TM), has announced an upcoming teleconference to discuss its financial report for the first quarter ended June 30, 2021. The call is scheduled for Monday, Aug. 16, 2021, at 55 p.m. ET. Richard Wright, WTER president and CEO, and David Guarino, WTER chief financial officer, will host the call. Investors, analysts and other interested parties are invited to participate. U.S. and Canadian callers should dial 877-407-3088; international callers should dial 201-389-0927. All callers will need to use conference ID number 13722270. A replay of the call will be available starting on Aug. 17, 2021, for one week. Those interested in listening to the archived call should dial 877-660-6853 in the United States or Canada and 201-612-7415 for international callers. WTER noted that it plans to issue a press release reporting its financial results after market close on Aug. 16, 2021; the report will also be available on the company website.

To view the full press release, visit https://cnw.fm/Zjq9k

About The Alkaline Water Company

Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88(R) delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts the company’s trademarked Clean Beverage label. Quickly being recognized as a growing lifestyle brand, Alkaline88 launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused(TM) flavored water is available in six unique all-natural flavors, with new flavors coming soon. Additionally, in 2020, the company launched A88 Infused Beverage Division Inc., which includes the company’s CBD water and flavor-infused water. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for the Alkaline88and A88 Infused brands. To learn more about the company, please visit www.A88CBD.com and www.TheAlkalineWaterCo.com.

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420 with CNW — SAMHSA Funding Restrictions Eased in Relation to Medical Marijuana

Although more than 30 states have legalized medical marijuana and lawmakers are now working on legislation to federally deschedule cannabis, the industry has constantly been weighed down by prohibition. Thanks to marijuana’s status as a Schedule I controlled substance at the federal level, federal agencies tend to take a hard line against the substance. The Substance Abuse and Mental Services Administration (“SAMHSA”) has in the past taken such a stance, unequivocally stating that its grant funds cannot be used to buy, prescribe and provide cannabis or treatment via medical marijuana.

However, cannabis reform activists will be happy to know that the SAMHSA recently softened the grant funding restrictions concerning medical cannabis. On Aug. 2, 2021, the Pennsylvania Department of Drug and Alcohol Programs (“PDDAP”) noted that there had been a change in the language regarding organizations that are eligible to receive federal grants from the SAMHSA. Specifically, a recent memo from PPDAP stated that new wording had invalidated the medical cannabis restrictions, stating that SAMHSA’s policy no longer contained language prohibiting the use of grant funds for anything medical marijuana-related.

The first clause containing medical cannabis restrictions was added in 2020 and carried over to the 2021 version of the policy. However, on June 2, PDDAP officials released a memo arguing that SAMHSA’s policy, especially regarding medical marijuana, could put health funding in jeopardy. Included in the memo was a SAMHSA FAQ page, which was dated Jan. 1, 2020, and confirmed the federal agency’s stance on medical cannabis. The final question stated that the organization could not serve patients who insisted on using medical marijuana to address a mental or substance use disorder.

According to the organization, it would only promote evidence-based practices, and there was no evidence that cannabis could alleviate mental or substance use disorders. Furthermore, SAMHSA argued, there was an increasing amount of evidence showing that cannabis could aggravate mental health symptoms rather than alleviate them.

In 2019, the agency announced that it would not provide grant money to help battle opioid addiction if treatment involved consuming cannabis or cannabis products. Dr. Elinore McCance-Katz, who has served as the Assistant Secretary of Health and Human Services for Mental Health and Substance Use from 2017, says the medical marijuana restrictions were meant to deter individuals looking for treatment services from seeing cannabis as a tried and tested treatment.

However, now that SAMHSA has eased medical cannabis restrictions, medical cannabis programs will not be deprived of grant funding. This means good news for the industry as scientists delve deeper into cannabis’ capabilities and side effects, and more states launch medical cannabis markets.

This modification of policy clears up some of the concerns that clients of cannabis companies such as Hero Technologies Inc. (OTC: HENC) have had over being caught in the middle between the medical cannabis laws of their states and the prohibitive federal policies.

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420 with CNW — Data Forecasts Global Marijuana Drinks Market to Hit $6B by 2030

A recently released report by Fact.MR forecasts that this year the global marijuana-infused drinks market will experience significant growth. Projections also show that a decade from now, the market’s revenues will have grown by more than 20 times, with a compound annual growth rate of about 38% to reach roughly $6 billion.

Marijuana is legal in more than 35 states for medical use and in 16 states for recreational use. The herb’s legalization has prompted an increase in the demand for marijuana and marijuana goods. This has led to more marijuana-infused beverage businesses entering the market in an attempt to meet this rising demand.

The spread of the legalization of recreational marijuana in the U.S. is expected to boost demand for marijuana-infused drinks in particular. Data shows that between 2016 and 2020, sales for marijuana-infused goods grew at a compound annual growth rate of about 20%, to reach $250 million last year.

In comparison with therapeutic marijuana use, the recreational use of marijuana has been found to be considerably superior, especially when illicit use is considered. In the coming decade, projections by Fact.MR show that increasing the therapeutic and recreational use of marijuana may likely cause an increase in the demand for marijuana-infused beverages.

Businesses involved in the market are currently working to develop THC emulsifications that will achieve a shorter uptake period, even less than half an hour. This aligns with consumer need for quick feedback on their dosage, which will in turn improve marijuana-infused beverage sales. Marijuana-infused drinks have also shown growing demand via e-commerce platforms, which offer autonomy in product selection, privacy and increased convenience.

Reported health advantages such as regulated blood pressure, relief from anxiety and depression, decreased weight gain and improved sleep patterns are also expected to propel the marijuana beverage market growth in the projected time frame. Additionally, the increased use of marijuana in pain relief and the treatment of cancer, epilepsy and various neurological ailments is also expected to increase the demand for marijuana-infused drinks.

At the moment, the CBD and hemp category in the United States is valued at roughly $1 billion. The U.S. is expected to become one of the biggest marijuana beverage industries worldwide, with federal legalization of marijuana for recreational, therapeutic and medicinal use driving market development.

However, the companies involved in the market will have to ensure that they comply with changing regulatory standards by testing and relabeling their goods in order to avoid hitches. This is an issue that existing cannabis drinks segment leaders such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) take seriously, since it is one of the building blocks of brands that resonate with consumers.

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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CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) to Present at H.C. Wainwright Ophthalmology Virtual Conference

InMed Pharmaceuticals (NASDAQ: INM), a clinical-stage company developing cannabinoid-based pharmaceutical drug candidates as well as manufacturing technologies for pharmaceutical-grade rare cannabinoids, today announced its plans to participate at the upcoming H.C. Wainwright Ophthalmology Virtual Conference. According to the update, InMed’s CEO and President Eric. A. Adams and SVP of Pre-Clinical Research and Development Dr. Eric Hsu will present at the conference on Tuesday, Aug. 17, 2021. Adams and Dr. Hsu will provide an overview of the company’s ocular program, including INM-088, a topical eye drop formulation under development for the treatment of glaucoma. INM-088’s active pharmaceutical ingredient (“API”) is cannabinol, also known as CBN, a rare cannabinoid showing promise in its potential to provide neuroprotection and to reduce intraocular pressure of the eye. The on-demand presentation will be available at 7:00 a.m. ET on Aug. 17, 2021, accessible from the HC Wainwrights events platform. An archived replay of the presentation will be available on InMed’s website immediately following the conference for 90 days.

To view the full press release, visit https://cnw.fm/0ziWD

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a clinical-stage company developing a pipeline of cannabinoid-based pharmaceutical drug candidates, initially focused on the therapeutic benefits of cannabinol (“CBN”), and is developing IntegraSyn(TM) to produce pharmaceutical-grade cannabinoids. The company is dedicated to delivering new therapeutic alternatives to patients who may benefit from cannabinoid-based pharmaceutical drugs. For more information, 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

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CannabisNewsBreaks – The Alkaline Water Company Inc.’s (NASDAQ: WTER) (CSE: WTER) Alkaline88(R) Adds Flagship Product for Strategic Hospitality Channel Expansion

The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company, today announced that it is expanding its eco-friendly aluminum product line with a new 750-ml (25.3-ounce) bottle. “On-premises bottled water consumption is a billion-dollar-a-year market that has very few alkaline water offerings. We expect to change that in a hurry,” said Ricky Wright, president and CEO of The Alkaline Water Company. “Alkaline88’s new 750ml, fully recyclable and refillable aluminum bottle will be a flagship product for our strategic expansion into the billion-dollar hospitality channel. The Alkaline Water Company recently hired Gary Bliss as our new director of Hospitality. He has decades of experience and a phenomenal track record in the industry. He has already approached numerous on-premises establishments where our 750ml white aluminum would be an ideal eco-friendly product for their venues. Consumers will soon be able to enjoy Smooth Hydration(R) at hotels, bars, restaurants, gyms, and other popular on-site venues. As we roll out our first-ever traditional marketing campaign, we know that more customers will be looking for Alkaline88 as their water of choice.”

To view the full press release, visit https://cnw.fm/Vp1L6

About The Alkaline Water Company

Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH-balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label: Clean Beverage. Quickly being recognized as a growing lifestyle brand, Alkaline88 launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused flavored water is available in six unique, all-natural flavors with new flavors coming soon. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for the Alklaine88 and A88 Infused brands. To purchase Alkaline88 and A88 Flavor Infused products online, visit www.Alkaline88.com. To learn more about the company, visit www.TheAlkalineWaterCo.com.

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

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CannabisNewsBreaks – American Cannabis Partners Leveraging Synergistic Relationships to Stand Distinct

American Cannabis Partners (“ACP”), a sustainable Jamaican experience canna-business innovator, prides itself on its close personal and positive relationship with Jamaica and its people, one founded on the profound awareness of needs and not just business numbers. “The company is committed to taking a similar approach to building relationships with its partners, striving to build synergistic relationships and position itself as a reliable business ally,” reads a recent article. It has partnered with Soilscape Solutions, a company helping rejuvenate soil fertility through sustainable soil practices, and Link4 Corporation, a company manufacturing software and environmental controls for growers. “Partnerships like these can produce exceptional results, and the words of American Cannabis Partners COO, Gary Coltek, attest to this. ‘Having industry partners like Soilscape and Link4 Systems have made it possible to replicate exact soil conditions, growing supplements, water makeup, and environments that mimic Orange Hill in Jamaica. The level of detail given to our plants has resulted in yields well above industry norms and producing some of the most sought-after flower in the U.S., especially our new patent-pending strains under the brand name ZUK where the entire crop has been pre-sold for 2021,’ said Coltek.”

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

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. As business professionals and cultivators, the company focuses on four industry segments: real estate, cultivation, medical research, and non-profit 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, and the company has expanded into multiple states. For more information, visit www.ACPFarms.com.

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