420 with CNW — Senators Urge Banking Committee Chair to Call Vote on SAFE Banking Act

The state-legal cannabis industry in America has come a long way despite being just a decade or so old. It has employed hundreds of thousands of individuals, generated billions of dollars in revenue, and filled state coffers with millions of dollars in tax revenue. Cannabis is still considered a Schedule I controlled substance at the federal level, however, and this classification has consistently been a thorn in the sector’s side.

Fearing reprisals from the federal government, banking institutions refuse to work with state-legal cannabis businesses, forcing them to operate on a cash-only basis, among other things. The Secure and Fair Enforcement (“SAFE”) Banking Act, a legislation that seeks to protect banks which that transact with businesses in the cannabis space, hasn’t had as much luck in the Senate. As such, bill sponsors Senators Jeff Merkley and Steve Daines have sent a letter to Senate Banking Committee Chairman Sherrod Brown urging him to put the legislation to a vote.

This is not just an issue of granting businesses in the cannabis space access to banking services, they say, but also a public safety issue. Since these establishments are forced to operate on a cash-only basis, they often have large sums of money on premises, puts employees at risk of robberies and armed burglaries. In fact, the two cited cases of theft at cannabis dispensaries in their home states.

Thus, they say, they owe it to their constituents to put the SAFE Banking Act to a vote and “further the legislative process.” The banking legislation was reintroduced to the senate three months ago, and since then, it has not been subject to a hearing. However, lawmakers in the House of Representatives passed the bill for the fourth time this April. The public letter, which was also addressed to Senator Pat Toomey, a ranking member in the Senate Banking Committee, may be an indication that private requests to Senator Brown to hold a markup on the bill may have gone unheard.

While Brown had previously stated that he would like to tie cannabis sentencing reform together with the banking bill, recent comments show that he isn’t married to the idea. He has also said that he had discussions with Senate leadership about merging it with a broader cannabis legalization reform that is currently being drafted by Senate Majority Leader Chuck Schumer. However, Schumer has stated that he doesn’t want to pass a banking bill, which he says puts industry interests first without advancing a bill addressing social equity.

Some form of cannabis policy reform at the federal level would be a great help to the entire industry, including Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), as some of the regulatory conflicts between state law and federal law would be clarified.

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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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 — Oregon Marijuana Tax Collection Shatters Annual Record with Two Months to Spare

Marijuana tax collections in the state of Oregon have hit a new fiscal year record, having collected $15 million in April this year, which brings the total to about $146 million. Last year, the state of Oregon collected a total of roughly $133 million in taxes.

At the start of the pandemic, marijuana sales in Oregon increased by 52% in the April to June period, in comparison with the April to June 2019 sales. In the two quarters that followed, increases of roughly 38% were also observed.

Economists in the state acknowledged that at the start of this year, sales rose once more, totaling more than $100 million. This amount, which was made up of $8.7 million in medical use and $91.5 million in adult-use marijuana, accounts for a 46% increase, in comparison with figures from January 2020.

As can be seen above, marijuana sales increased at the onset of the pandemic, slowed down towards the end of last year before steadily rising once more at the start of 2021. This move surprised economists in the state, who had expected marijuana sales to decrease as more people began to go back to work, the economy gradually reopened and other spending opportunities were presented.

The most recent forecast released by the state’s Office of Economic Analysts noted that predictions showed that short-term sales would improve as a result of strong household finances, an economy without fully reopened entertainment options and the ongoing coronavirus pandemic. In addition to this, economists stated that they expected marijuana sales to diminish in the fall as the aforementioned issues faded, noting that in the long term, the state’s marijuana industry would flourish once more.

In their updated forecast, the economists assert that the growth rates projected in the long run align with the office’s personal income outlook, which took into consideration wage gains and the increasing population, arguing that they were the primary drivers of recreational cannabis sales in the future. This, in dollar terms, equates to an extra $21 million prediction for the 2021–2023 period. These figures are in comparison to last year’s forecast, which cited $298 million as the forecast for the 2021–2023 biennium.

Additionally, the economists’ forecast from three months ago for the same period stood at $354 million.

Presently, the state of Oregon taxes retail marijuana sales at 17%, with local governments being allowed to add their own tax, which should not exceed 3%.

Credit can be given to cannabis sector players such as Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) that have availed products found to be worthy enough by the state residents, hence the record-setting taxes paid with the purchases made.

NOTE TO INVESTORS: The latest news and updates relating to Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) are available in the company’s newsroom at https://cnw.fm/CHALF

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CannabisNewsBreaks – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Enters Medicinal Cannabis Space Through Strategic Agreement

Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, together with Canada House Wellness Group (CSE: CHV), a fully integrated medical cannabis company, have entered into a medical supply agreement. Under the agreement, Canada House’s wholly owned subsidiary, Abba Medix Corp., will purchase Pure Extracts’ full line of concentrate products for sale to its established medical patient base. “This agreement marks our entry into the medical cannabis space, which will make a significant revenue contribution starting in Q4 and ramping-up in 2022,” said Pure Extracts’ CEO Ben Nikolaevsky. “Abba’s extensive military and medical customer base along with their popular online portal allows us to quickly and efficiently get our outstanding line of full spectrum oil (‘FSO’) CBD and THC vape products and our blister-packaged gummie products, including our ultra-high potency 100 mg CBD chews, to their patients across Canada.”

To view the full press release, visit https://cnw.fm/e3cx4

About Pure Extracts Technologies Corp.

Pure Extracts features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. Health Canada, under the Cannabis Act, granted Pure Extracts its Standard Processing License on Sept. 25, 2020. The company’s stock began trading on the Canadian Securities Exchange (“CSE”) on Nov. 5, 2020. For more information, visit the company’s website at www.PureExtractsCorp.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 – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Featured in Editorial as ‘Super State’ Operator

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, is spotlighted in an editorial broadcast titled “A Lesson in Cannabis: Second Mover Can Be Better Position.” A press release announcing the broadcast observes that, while many look at first-mover status as an optimal position, there can be some advantages to learning from those acting first in an industry. “Look what happened to MySpace and AIM (AOL Instant Messenger) as they faded to irrelevance as Snapchat, TikTok and Instagram exploded in popularity to challenge incumbent platforms,” the press release states. “Second movers can enjoy advantages as they learn from pioneering entities that paved the way. Specific to the cannabis business, there is no shortage of companies that learned from sad experience the price to pay for expanding too fast, overpaying for acquisitions, or building a business a mile wide and a foot deep. Red White & Bloom Brands Inc. is a compelling mix of old and new that is methodically building a commanding position in the United States as a multi-state operator (‘MSO’). In fact, the company refers to itself as a ‘super state operator,’ a reflection of its strategy to remain hyperfocused on dominating specific markets before expanding to others, which ensures it doesn’t get spread too thin.”

To view the full press release, visit https://cnw.fm/S3wjN

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, Massachusetts, 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.

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420 with CNW — As States Legalize Cannabis, Federal Trafficking Cases Dwindel

A recent analysis conducted by the U.S. Sentencing Commission (“USSC”) has observed a decline in the number of federal cannabis trafficking cases from last year as more states legalize cannabis. The organization, which is an independent agency of the government’s judicial branch, conducted an analysis of the number of drug trafficking convictions and discovered that last year, there were 1,118 marijuana cases, a 67% decline from the numbers recorded since 2016.

Advocates of legalization maintain that the year-over-year decrease correlates with the increasing number of states that have enacted legalization, in addition to reflecting the deprioritization of the feds in pursuing marijuana cases. The USSC stated that generally, just over 16,500 convictions involved drugs last year. Of this number, cannabis cases made up about 7%. In addition, the USCC noted that 4% of the marijuana trafficking sentences were for over a decade, 16% were for a period between 5 to 10 years, while the majority — a whopping 80% — was five years or less.

This report by the USSC is the latest to provide data demonstrating that the state-level cannabis movement’s success corresponds to a decrease in federal marijuana cases. Advocates state that as more legalization laws are enacted, the market for illegal marijuana, which is usually brought in from Mexico, will dry up. This will in turn lead to fewer trafficking cases to be pursued by federal prosecutors.

A separate report that was released in December 2020 by Supreme Court Chief Justice John Roberts found that while cases which involve cannabis decreased by more than a quarter in 2019, federal prosecutions of crimes associated with drugs increased. Additionally, another study released in 2018 by the Cato Institute reported that state-level cannabis legalization had considerably weakened cannabis smuggling. Furthermore, data released by the Federal Bureau of Investigation late last year demonstrated that for the first time in four years, marijuana arrests had decreased on a national level.

These trends may likely continue this year, as the attorney general is of the opinion that the Department of Justice’s limited resources shouldn’t be used in low-level cannabis enforcement. In addition to this, more states are working on ending cannabis prohibition. Concurrently, congressional legislators are also working on legalizing the plant at the federal level.

Legislation to federally legalize marijuana, which was approved by the House in 2020, has been amended and re-introduced by Jerrold Nadler, chair of the Judiciary Committee. Additionally, Senate Majority Leader Chuck Schumer in April revealed that a bill to federally legalize cannabis would be introduced to the chamber in the near future.

If efforts to reform cannabis policy at the federal level succeed, sector players such as Hero Technologies Inc. (OTC: HENC) will have fewer hurdles to contend with in its day-to-day operations.

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420 with CNW — Everything You Ought to Know About the Marijuana Entourage Effect

Cannabis has become extremely popular over the past decade thanks to chemical compounds called cannabinoids. Produced by plants in the hemp family, these compounds interact with the body in unique ways and give rise to a variety of effects. THC is the main psychoactive compound responsible for marijuana’s intoxicating effects while cannabidiol (“CBD”) is medicinal and is claimed to be effective against a wide variety of symptoms.

Cannabis actually produces more than 100 cannabinoids as well as terpenes and flavonoids, but because of its federal status as a Schedule I controlled substance, little research has been conducted into these lesser-known compounds.

In the past few years, scientists have been able to study cannabis more closely, and one theory has become prevalent. Individually, THC and CBD could have their therapeutic benefits, but together, they somehow enhance each other’s beneficial effects while tamping down on the less desirable ones. Terpenes, which are produced by other plants and are responsible for marijuana’s strong aroma, also work together with the cannabinoids to make them more impactful. This synergy is called the entourage effect, and researchers believe understanding it is key to unlocking cannabis’ true potential.

Like cannabinoids, terpenes also have therapeutic effects, and this applies to those that are present in other plants as well. For instance, pine trees produce pinene terpenes, which have anti-inflammatory properties while lavender produces linalool terpenes, which have anti-anxiety effects.

In cannabis, a terpene called myrcene seems to have strong anti-inflammatory, analgesic, antibiotic and sedative effects and can have an entourage effect when taken with THC, says Dr. Ethan Russo. He recently authored a seminal research paper titled “Taming THC: Potential Cannabis Synergy and Phytocannabinoid-Terpene Entourage Effects.”

Since cannabis has numerous cannabinoids and terpenes, the theory is that different terpene-cannabinoid and cannabinoid-cannabinoid combinations may have different effects. One study found that although THC can be quite effective at reducing cancer-related pain, it was even more effective when taken with CBD. Additionally, the study found that cannabidiol boosted THC’s analgesic effects while reducing its psychoactive effects, which can be quite helpful for those who are interested in THC’s pain-relieving abilities but don’t want to get high.

Cannabinoids such as THC interact with the endocannabinoid system (“ECS”), which is in charge of regulating functions such as pain, sleep and appetite. These are all functions that contribute to the body’s internal balance or homeostasis. CBD, on the other hand, doesn’t interact with the ECS, but it affects how THC binds with endocannabinoid receptors. Scientists don’t know exactly what causes this, but understanding how this system of receptors and cannabinoids and terpenes alter functionality could allow scientists to harness the entourage effect and open up cannabis to a wider variety of medical applications.

As firms such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) continue to bring innovative cannabis-based beverages to the market, consumers can expect to get a taste of the different cannabinoid, terpene and flavonoid combinations possible.

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 – Golden Triangle Ventures Inc. (GTVH) Issues Letter to Shareholders

Golden Triangle Ventures (OTC: GTVH) (“GTV”), a multifaceted consulting company pursuing ventures across health, entertainment and technology industries, today released a mid-year letter to shareholders that provides updates on current activities and outlines its corporate strategy. “Over the past six months, our company has acquired several very exciting businesses and projects that all synergistically work together in their own way. Due to the many things that have recently transpired, we all felt that it was important to provide a formal update on all the developments that have come to fruition within Golden Triangle Ventures. One year ago, we knew exactly what we were going to build but we did not know it was going to be this amazing,” reads the letter from GTV CEO Steffan Dalsgaard. “As our company continues to disclose the many additional projects we are working to develop, and all the accomplishments that transpire within these projects, the world will understand the true vision of Golden Triangle Ventures and the synergies between our businesses. I truly believe that we are building a company that will greatly impact the industries we do business in, and I strongly think the world will understand my confidence after all our projects come to light. Every single day we see miracles that transpire within our business, and I am honored for the opportunity to put everything I can into this company for all our shareholders. We look forward to disclosing many more accomplishments with the world as they develop, and I will never stop pushing for this company’s future.”

To view the full press release, visit https://cnw.fm/lFaD9

About Golden Triangle Ventures Inc.

Golden Triangle Ventures (“GTV”) is a multifaceted consulting company pursuing ventures in the health, entertainment and technology industries, with many additional projects being developed that provide synergistic values to these divisions. The company aims to purchase, acquire and/or joint venture with established entities that management can help assist and develop into unique opportunities. Additionally, GTV provides a professional corporate representation service to different companies in these sectors while consulting on a variety of business development objectives. The goods and services represented are driven by innovators who have passion and commitment to these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent these three sectors in which the company aims to do business. For more information, visit the company’s website at www.GoldenTriangleInc.com.

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CannabisNewsBreaks — Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Featured in Article Discussing Cannabis Leaders and Lessons

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, is featured in an editorial published by NetworkNewsWire (“NNW”), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities. The article, titled “A Lesson in Cannabis: Second Mover Can Be Better Position,” looks at what companies looking to grow in the cannabis market can learn from pioneers in the space. “Even though medical marijuana had been legal in some U.S. states for more than a decade, the substance didn’t gain much recognition until Colorado set the market on its head in 2012 by making adult-use marijuana legal. Since then, other states have followed suit, while in 2018, Canada went all-in to become the first developed nation with weed legalized at the federal level,” the article states. “Not surprisingly, North American companies and investors were tripping over themselves trying to capitalize on the massive burgeoning market. In all market segments, plenty of lessons were learned as everyone from companies to investors to lawmakers worked to organize a brand-new market.”

To view the full press release, visit https://cnw.fm/xE6lm

About Red White & Bloom Brands Inc.

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CannabisNewsBreaks – RYAH Group Inc. (CSE: RYAH) Announces Shipment of Proprietary Dry Herb Inhalers for Use in Pilot Program

RYAH Group (CSE: RYAH), a connected device and big data and technology company focused on valuable predictive analysis in the global medical plant and nutraceutical intake industry, has completed an initial shipment of its proprietary RYAH Smart Dry Herb Inhalers. The shipment was sent to Medicann in Jersey, the largest of the Channel Islands, located between England and France. A premier cannabis-specialized clinic, Medicann plans to use the inhalers for use in a pilot program designed to collect patient feedback regarding consumption of cannabis strains that are available on the island. According to the announcement, the parties will also be working on defining an exclusive, definitive supply and distribution agreement that would name Medicann as the sole supplier and distributor of the RYAH Smart Dry Herb Inhalers in the region. “We are excited to be initiating our pilot program with Medicann in Jersey, which represents a unique, ‘ring-fenced’ environment for establishing potentially numerous studies on the efficacy of treatments using plant-based therapies,” said RYAH Group CEO Gregory Wagner in the press release. “RYAH is pleased to contribute RYAH’s IoT devices and data platform and work with Medicann toward perfecting prescribing practices and dosing regimens.”

To view the full press release, visit https://nnw.fm/YIBSg

About RYAH Group Inc.

RYAH Group is a connected device and big data and technology company focused on valuable predictive analysis in the global medical plant and nutraceutical intake industry. Its robust artificial intelligence platform aggregates and correlates HIPAA-compliant patient data, which is intended to help doctors and patients personalize plant-based treatments to better predict treatment outcomes. The data collection is relevant for clinics, doctors, dispensaries and pharmaceutical companies and licensed processors (“LPs”) to monitor and manage formulation effects on patients and demographics. With a strong IP (“IP”) portfolio, RYAH gathers deep and insightful data on the complete patient session and formulation life cycle. For more information about the company, please visit www.RyahGroup.com.

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CannabisNewsBreaks – Green Hygienics Holdings Inc. (GRYN) Enters Exclusive Sales, Distribution Agreement for Mexico and Central America

Green Hygienics (OTCQB: GRYN) has signed an exclusive sales and distribution agreement for Mexico and Central America; the company signed the agreement with Inter Cargo and ABA Cargo, two sister companies that boast a successful 50-year sales and distribution track record in Mexico and other Latin American countries. According to the announcement, Inter Cargo and ABA Cargo will use their impressive sales, marketing, logistics and retail expertise to distribute Green Hygienics’ full line of high-quality CBD products. “We are excited to have this agreement in place for strategic, wide-scale distribution of our highly differentiated, safe and superior quality CBD hemp products,” said Green Hygienics COO Kyle MacKinnon in the press release. “Entering into an agreement with our new partners, who have more than 50 years of history in the retail business in Mexico, allows us to tap into a network of leading retailers, presenting Green Hygienics with a first-to-market opportunity to have a retail presence in the largest emerging cannabis market in the world. After proving concept with our ability to cultivate at our property, the largest single USDA Certified Organic hemp for CBD farm in North America, and through recent acquisitions, we have shifted focus to sales and distribution to create revenue for the company. This agreement represents a clear path forward to bring value to our shareholders.”

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

About Green Hygienics Holdings Inc.

Green Hygienics is a California-based innovative, technology-driven enterprise focused on the high-standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids. The company’s corporate mission is to adhere to the highest standards of operations in consistently delivering safe and premium-quality products to consumers as well as to partner with consumer packaged goods (“CPG”) and pharmaceutical companies. For more information about the company, visit www.GreenHygienics.com

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