420 with CNW — Cannabis Sector Expected to Boost US Economy by $92 Billion in 2021

According to an analysis published by MJBizFactbook, the cannabis sector is projected to add approximately $92 billion to the general U.S. economy this year. This figure was arrived at after crunching the numbers on the marijuana taxes and fees, jobs created, demand for real estate, and other knock-on factors.

This projected impact of the cannabis industry would mark an increase of about 30 percent from the total impact of the sector upon the economy in 2020. In 2025, the broader U.S. economy will see a boost of $160 billion from this industry, according to the analysts.

To arrive at the sector’s approximate impact upon the economy, the team at MJBizFactbook measured similar industries before applying a standardized 3.5 multiplier on the anticipated retail sales of recreational as well as medical cannabis. However, these numbers aren’t set in stone since the analysts admit that the cannabis industry is unique given that its influence stretches to the agriculture industry, retail segment, as well as the manufacturing sector.

Under normal circumstances, the total size of a given industry is calculated by computing the total revenues generated during retail sales along every step of the supply chain of that industry. But, such a computation doesn’t paint the entire picture of the cannabis industry’s impact. Instead, a multiplier is used. In this particular case, the analysts believe that each dollar that a patient or recreational user of marijuana spends at a retail outlet translates into an extra $2.5 injected into the local economy.

Those additional dollars added to local economies arise because employees of cannabis firms spend on food, transportation, housing, entertainment as well as other necessities of life. Furthermore, buyers of cannabis products also pay local and state taxes or fees.

This increases the impact of their purchase upon the economy since those tax dollars go to maintaining schools, building infrastructure and meeting other expenses at state or even federal level. This is where the broader U.S. economy benefits, according to the MJBizFactbook team.

The analysts also point out that there will be a variation of the impact based on several factors, such as the kind of cannabis market, the size of that market as well as the maturity of the market.

For instance, California, which is the largest U.S. market of marijuana, is expected to see an injection of a whopping $20 billion into its economy this year. This is in sharp contrast with other states, such as Colorado, Oregon, Illinois and Washington which are estimated to inject approximately $10 billion into their economies from the marijuana industry within a few years from now.

When the sector’s economic impact is looked at on a per capita basis, California doesn’t shine as much since other states deliver a bigger per capita contribution from the marijuana industry.

A case in point cited in the analysis is Nevada whose per capita impact is $1,917 while that of California pales in comparison at $500 and yet the total dollar amount injected into the California economy is huge ($20 billion).

While the overall estimates of the economic impact of legal marijuana programs aren’t very accurate, they provide a general picture of what is happening, and things are looking up!

Those projections of the expected contribution of cannabis to the economy can be brought to life when one looks at how a number of cannabis firms like Gage Growth Corp. (CSE: GAGE) (OTC: GAEGF) (d.b.a. Gage Cannabis) are growing and hiring more and more employees at their different locations.

NOTE TO INVESTORS: The latest news and updates relating to Gage Growth Corp. (CSE: GAGE) (OTC: GAEGF) (d.b.a. Gage Cannabis) are available in the company’s newsroom at https://cnw.fm/GAGE

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 — 4 Powerful Lessons Marijuana Extractors Learned During the Pandemic

When the Covid-19 pandemic broke out, the hemp and marijuana industries took a huge hit because they relied on overseas sources, particularly China, for everything ranging from processing equipment to cartridges and even carrier oils. If marijuana processors were to stay in business, they needed to change things fast. We discuss below some of the key lessons that extractors learned as the pandemic raged on.

Diversifying Supply Sources

Clear Cannabis, a Denver-based manufacturer of CBD and THC concentrates, saw its supply chains disrupted in a major way. The board chair, Richard Batenburg, explains that they had to take a hard look at every aspect of their supply chains and then look for options to plug any gaps observed. He adds that they diversified their suppliers to such an extent that where they initially had four suppliers, they bumped them up to sixteen.

This approach to diversifying supply sources has helped extractors to maintain robust supply chains amidst the uncertainties brought by the pandemic.

Streamlining Processes

Another vital lesson was the importance of streamlining processes in order to shed any avoidable step or procedure. By looking for ways to streamline their processes, extractors were able to find opportunities to implement automation in addition to saving time. Streamlining processes can also reduce personnel demand.

For instance, Clear Cannabis opted to merge the operations of the design team with those of the packaging team so that less time was spent waiting for designs and then proofreading them before they are approved.

Overhauling Delivery Systems

Marijuana extractors quickly realized that their headaches didn’t end with sourcing inputs. Instead, a whole new dilemma presented itself in the form of how to deliver finished products to clients. For instance, products would remain stuck at shipping hubs for much longer than was expected and clients would repeatedly call asking about their shipments.

To deal with this problem, extractors learned to switch from standard shipping to priority shipping. While this added costs, it ensured that products were delivered on time.

Putting Employees First

Concerns about employee safety also made cannabis extraction firms to make changes and intensify their focus on putting employees first. For some, this translated into abandoning the top-down management system to one in which power was delegated downwards and small teams worked almost independently.

Oregrown, an Oregon-based extraction firm, says that they started having what they called “management councils” entailing holding separate meetings with various divisions of the firm. The surprising result of making this switch was that teams became more productive since they didn’t always have to wait for “orders from above.”

Not surprisingly, many of these adaptations are likely to last long after the pandemic is gone since they have changed operations for the better.

Having lived through the worst of the pandemic, industry players like Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) are certainly better placed to navigate future crises if they ever occur.

NOTE TO INVESTORS: The latest news and updates relating to Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) are available in the company’s newsroom at https://cnw.fm/PULL

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420 with CNW — Missouri Legislators Advance Medical Cannabis Tax Deduction Bill to Governor’s Desk

In 2018, voters in the state of Missouri legalized medical cannabis. Despite this, the sale, distribution and cultivation of cannabis is still illegal in the state under federal law. This has created some challenges for the infant industry. For instance, cannabis companies in the state aren’t allowed to deduct business expenses on their taxes, despite being legal businesses.

During a Senate hearing held earlier in this year, Senator Denny Hoskins raised the issue, noting that cannabis business owners who weren’t allowed to deduct business expenses on their tax returns had to pay significantly higher taxes.

In the legislative session that recently ended, legislators in the state of Missouri approved a bill that will allow medical cannabis companies to deduct business expenses on their tax returns. The legislation, which was approved with almost no opposition, has been advanced to Gov. Mike Parson’s desk.

This bill will permit medical cannabis businesses that are authorized under the state’s constitution to claim income tax deductions in any amount equal to their expenditures. It should be noted, however, that a provision in the tax code prevents deductions for expenses that are sustained while operating any business or trade that is made up of or involves the trafficking of controlled substances.

While the federal law is yet to be altered, this legislation will ease some of the burden that cannabis business owners in the state bear. Under the federal law classification of substances, cannabis is categorized as a Schedule I controlled substance. This clause is used by the Internal Revenue Service (“IRS”) to prevent marijuana businesses from deducting business expenses on their returns.

Missouri Medical Cannabis Trade Association executive director Andrew Mullins noted that by making this change, legislators in the state were putting medical marijuana businesses on a level playing field with other small businesses in the state in terms of taxes.

CPA David Smith, who works with various medical cannabis companies, noted that the current law could mean an effective tax rate for businesses of 70% or more, adding that some companies may be subject to income taxes, despite operating at a loss.

Hippos Cannabis CEO Nicholas Rinella explained that this was because, without the deductions, companies had to pay taxes on gross profit instead of gross income. He added that sometimes, expenses could outweigh the income of a business, particularly if it was just starting out. Rinella also noted that this taxation level limited the industry’s ability to reinvest in communities, create employment opportunities and serve patients.

This change in Missouri is a much-needed one in all jurisdictions where cannabis companies operate. As those tax deductions are rolled out, companies such as Hero Technologies Inc. (OTC: HENC) will be at par with other licensed businesses.

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

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420 with CNW — New Study Suggests CBD Could Reduce Consumption of Alcohol

Cannabidiol (“CBD”) is one of more than 100 chemical compounds called cannabinoids, which are produced in the cannabis family. You’ve probably heard of THC (delta-9 tetrahydrocannabinol), the main psychoactive component responsible for cannabis’ intoxicating effects. CBD, on the other hand, is not psychoactive, although studies have found that this cannabinoid is capable of alleviating a variety of medical conditions. While the research behind CBD’s medical claims is limited, initial results have been quite promising, which has led to increased scientific interest in CBD’s abilities.

One of the more recent studies has uncovered something that could have wide-ranging implications for millions of people: CBD may have the ability to reduce alcohol consumption. Despite the substances being portrayed as a terrible drug for decades, a new study has found that cannabidiol is up to 114 times safer than alcohol, meaning users are more than 114 times more likely to overdose on alcohol than cannabidiol. Researchers studied the risks of consuming several different substances, including alcohol, nicotine, cocaine, heroin, ecstasy and CBD, and they found that cannabidiol has a significantly lower associated risk compared to the other substances

In fact, CBD was the only drug classified as low risk, while alcohol was classified as a high-risk substance alongside nicotine, heroin and cocaine. Alcohol was considered especially high risk as it is legal, widely accessible and barely has any stigma attached to it, unlike hard drugs such as cocaine and heroin. The report, which was published in “Scientific Reports Journal,” said that many countries underestimated alcohol’s inherent risks while overestimating cannabis’ negative effects, and this guided the drug policies the study adopted.

Another recent study found that not only is CBD much safer than alcohol, but that it also can be used to curb alcohol cravings. While exploring the relationship between CBD and alcohol, researchers found that it could have led to reduced alcohol consumption among regular cannabis users. The authors of the study suggested that switching to low-THC, high-CBD cannabis strains could be beneficial for individuals looking to reduce their alcohol intake.

Researchers gave 120 participants who used both cannabis and alcohol three different cannabis strains: a THC-dominant one, a CBD-dominant one, and a strain with both CBD and THC. At the end of the study, they found that the group with the CBD-dominant cannabis strain had fewer alcohol use days as well as fewer CBD and alcohol co-use days. This provides evidence against the theory that cannabis use lends itself to alcohol use, although more research will be needed before these results are conclusive.

This research adds to the growing body of evidence in support of the various medical cannabis products manufactured by sector players such as Sonoma Biologics Corp. and the industry in general.

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CannabisNewsBreaks – BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) Inks Deal with Top U.S. Inventory, Fulfillment Technology Provider

BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health and wellness beverage and natural products company, this morning announced that it has signed a partnership with an award-winning U.S. inventory and fulfillment technology platform provider. With hundreds of professionally operated fulfillment centers strategically situated throughout the United States, the partnership provides BevCanna access to a reliable fulfillment platform as well as two-day shipping anywhere in the country. “We’re pleased to be able to leverage this unique logistics systems in the U.S. launch of our TRACE line of products,” BevCanna Enterprises President Melise Panetta stated in the news release. “Employing this sophisticated cloud-based platform will allow us to accelerate our launch across the country and ensure seamless delivery of our TRACE products to retailers nation-wide.”

To view the full press release, visit https://cnw.fm/ISz9l

About BevCanna Enterprises Inc.

BevCanna Enterprises Inc. is a diversified health & wellness beverage and natural products company. BevCanna develops and manufactures a range of alkaline, 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, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a bottling capacity of up to 210M 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 #1 U.S. cannabis beverage company Keef Brands. For more information, visit the company’s website at www.BevCanna.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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420 with CNW — A Brief Analysis of Colorado’s Cannabis Tax Revenue

In the year 2012, voters in the state of Colorado legalized adult-use cannabis and approved Amendment 64, which made it the first state in the country to have a legal recreational cannabis market.

Since then, Colorado has made more than $10 billion in total cannabis sales. In 2020, while other industries suffered at the hands of the coronavirus pandemic, cannabis sales increased significantly in the state.

In January this year, cannabis sales topped $180 million, which set a new record. In the last six years, the state has collected more than $1.5 billion in fee revenues and cannabis taxes. This revenue stream was a key selling point for voters in the state when the legalization measure was being passed in 2012. Many are curious to know how these monies have been allocated.

According to Amendment 64, the state is obligated to collect a 15% special sales tax when marijuana changes possession from cultivator to seller and a 2.9% sales tax from both recreational and medical sales. The 2.9% tax on medical cannabis is directed to the Marijuana Tax Cash Fund.

The amendment also has a clause that states that 90%, or the first $40 million, accumulated is to be allocated to a capital construction grant program, where different education providers, districts and schools can apply for funds to renovate existing facilities or construct new buildings.

On the other hand, the 15% excise tax is directed to the general fund of the state of Colorado, with a portion being allocated to the State Public School Fund, which is managed by the Department of Education. The remaining amount is allocated to the Marijuana Tax Cash Fund.

Since legal retail sales began in 2012, more than 15% of the budget of the Marijuana Tax Cash Fund has been directed to education initiatives. However, while cannabis tax dollars help fund construction and school maintenance, they don’t address per pupil funding, with very little of these taxes being directed to school operating budgets for school supplies, books and teacher salaries.

In addition, different jurisdictions in the state allocate cannabis tax revenues differently. For instance, in the period between 2014-2019, Denver allocated more than $15 million to youth prevention with more than $25 million in tax dollars also going to cannabis enforcement and regulation. Additionally, $19 million, over $3 million and more than $15 million was allocated to city capital improvements, opioid intervention and affordable housing respectively.

Legislators in the state are being pushed to change how tax revenue is used annually and introduce legislations to establish new programs.

While a lot of attention may be directed towards the tax benefits of the cannabis sector, it is also worthwhile to be cognizant of the work done by companies such as RYAH Group Inc. (CSE: RYAH), which is developing cutting-edge IoT dose-measuring devices with the potential to take plant medicine (medical cannabis, for example) to a whole new level of precision.

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420 with CNW — Cannabis Prohibition Costs $53 Billion Annually in the US

When it was first initiated, the war on drugs had relatively noble goals: to eliminate the production, distribution, and consumption of psychoactive drugs, consequently reducing the number of people addicted to these drugs and stripping the criminal enterprises behind the drug trade of their resources. However, decades after former President Nixon declared the infamous war on drugs, the drug war is considered an unmitigated failure by most. Not only has it failed to curb drug use in the country and barely put a dent in the illicit drug trade, but it also has sent countless millions to prison for relatively tame offenses such as drug possession and cost the United States billions of dollars.

According to a report published on AmericanMarijuana.org, the United States loses a whopping $53 billion every year to cannabis prohibition. Most of this money goes towards cannabis arrests, prosecutions, and incarceration, with most of these individuals having done nothing more than possess small amounts of cannabis. As the country’s economy tries to shrug off the catastrophic effects of the coronavirus pandemic and the subsequent lockdowns, cannabis reform advocates argue that this money, which is mostly funded by taxpayers, could be dedicated to much better causes.

Over the past decade, more and more states have legalized cannabis for either recreational or medical use, culminating in a lucrative state-legal cannabis industry that has employed thousands of individuals across the country and provided billions of dollars in tax revenue. However, cannabis remains illegal at the federal level, meaning that the businesses and people that participate in the state-legal cannabis sector are always at risk of suffering federal repercussions.

This prohibition has undoubtedly ruined millions of lives. Not only does prosecution and incarceration negatively affect the individual’s family and the community at large, but having a criminal record also hinders an individual’s ability to seek gainful employment and obtain student loans, a driver’s license, and even housing. Once a cannabis offense blemishes your record, your chances of surviving and thriving in the increasingly capitalist America are greatly reduced.

More than that, the war on drugs has been a war on people, and as House Majority Leader Chuck Schumer says, it has often been a war on people of color. Research has found that individuals of color are much more likely to be arrested for marijuana-related offenses compared to white individuals despite similar usage rates. After decades of intense policing and harsh sentencing, these communities have been left broken and beaten down.

Thus, support for cannabis reform has been growing steadily, especially among lawmakers. Schumer has been working on a Senate version of a cannabis legalization bill with Senators Ron Wyden and Cory Baker while House Judiciary Chairman Jerrold Nadler plans to reintroduce his historic Marijuana Opportunity, Reinvestment, and Expungement (“MORE”) Act as soon as this week.

When lawmakers eventually ease the federal restrictions on cannabis, the work of companies like XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), which is engaged in developing cannabis-based medications, will be eased somewhat since the current regulatory barriers cost lots of time and other resources to navigate.

NOTE TO INVESTORS: The latest news and updates relating to XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) are available in the company’s newsroom at https://cnw.fm/XPHYF

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Completes Pre-Qualification for Entry into Michigan Market

Red White & Blo o m Brands (CSE: RWB) (OTCQX: RWBYF) today announced that it has completed the more comprehensive portion of Michigan’s two-step application process for marijuana licensing through a wholly owned operating subsidiary, RWB Michigan LLC. The Marijuana Regulatory Agency (“MRA”) pre-qualification represents authorization of the company to proceed with its full operational strategy in the state and complete the licensing process for its intended facilities. All application materials, background checks and payment of the application fees have been completed as part of the first step, which is pre-qualification. “Michigan has been one of the highest bars of entry to any market we’ve entered. The regulatory body has done it right and all stakeholders should feel comfort with the level of scrutiny and governance we have to be compliant with as operators. This now provides a path for us to fully execute on our strategy of being the house of brands and being great channel partners to all of our distribution points as well as our own planned flagship retail locations,” said RWB CEO and Chairman Brad Rogers. “Entering Michigan provides RWB access to a market with a population of approximately 10 million people, and one where recent state monthly sales are over US$145 million. Given the number of documents and rigorous background check process, pre-qualification is the most significant regulatory hurdle in the Michigan marijuana licensing process.”

To view the full press release, visit https://cnw.fm/fXce5

About Red White & Bloom Brands Inc.

The company 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 the major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona, and California with respect to cannabis, and the U.S. and internationally for hemp-based CBD products. For more information about the company, visit www.RedWhiteBloom.com.

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CannabisNewsBreaks – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Secures Purchase Order from British Columbia LDB

Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp and the rapidly emerging psychedelic sector, today announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., through its distribution partner, has received an initial purchase order for its edible cannabis gummies from the British Columbia Liquor Distribution Branch (“LDB”). Demand for Pure Extracts’ Pure Chews branded THC and CBD gummies is strong within the provincial markets, where the company anticipates that Fire Burst, like its U.S. counterpart, will be one of the top selling gummies. “The edible gummie business is a material revenue producer for Pure Extracts,” said CEO Ben Nikolaevsky. “We are excited to have received our first purchase order for Fire Burst cinnamon flavored gummies from the wholesaler serving our home province of British Columbia, the LDB, adding them to our provincial distribution and look forward to a successful long-term relationship that leads to a satisfied customer base. With our proprietary manufacturing and packaging machine and our high-quality cannabis extracts, we have created the type of exceptional gummie products that consumers now demand.”

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

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.

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

About CanadianCannabisWire

CanadianCannabisWire (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 — Jerrold Nadler Could File Revised MORE Act ‘Very Soon’

For the past couple of years, the cannabis industry in the United States has been slowly but surely gathering steam. More than 30 states have legalized marijuana for either medical or recreational use, with the state-legal cannabis industry employing thousands of Americans and providing states with millions of dollars in much-needed tax revenue. However, cannabis advocates have always had their eyes on legislation that would decriminalize the controversial drug at the federal level, and with Democrats controlling the Senate, House and White House, their dream may soon become a reality.

According to Marijuana Moment, a key chairperson may be planning to reintroduce a bill that would legalize cannabis at the federal level as well as promote social equity in the House as early as this week. This version of the legislation will contain at least two major changes compared to the previous version.

Jerrold Nadler, the House Judiciary Committee chair sponsored the Marijuana Opportunity, Reinvestment, and Expungement (“MORE”) Act, a bill that would federally deschedule marijuana and expunge the records of individuals with prior cannabis convictions. The bill cleared the House late last year in a historic vote, although it stood little chance in the then Republican-controlled Senate and failed to advance.

However, sources close to the issue say the MORE Act may be refiled as soon as this week with Nadler planning to introduce the revised legislation before Congress breaks for Memorial Day recess. A provision that was added before the House floor vote in December that would have prevented individuals with prior cannabis convictions from opening and running cannabis businesses will not be included. This version of the legislation will have significant social equity provisions as well as language that extends to the Small Business Administration (“SBA”), providing individuals with loans, job training, and financial literacy programs, among others.

Consequently, individuals from communities that were unjustly persecuted due to the decades-long war on drugs will be able to conduct business in other industries, not just the nascent cannabis sector. The United States has treated cannabis as a criminal matter rather than a public health issue, Nadler said two months ago when he first announced that he intended to reintroduce the MORE Act. Not only have communities of color been victims of cannabis arrests, prosecutions, and incarceration at a higher rate when compared to their white counterparts, he said, but anti-cannabis policies have also cost the country quite a lot.

Over in the Senate, Majority Leader Chuck Schumer, Senator Cory Booker and Senate Finance Chairman Ron Wyden have been working on a cannabis reform bill that will be introduced to the Senate soon.

If this bill is eventually passed into law, the entire cannabis sector, including actors such as Gage Growth Corp. (CSE: GAGE) (d.b.a. Gage Cannabis), will be relieved that the regulatory complications they face are becoming streamlined.

NOTE TO INVESTORS: The latest news and updates relating to Gage Growth Corp. (CSE: GAGE) (d.b.a. Gage Cannabis) are available in the company’s newsroom at https://cnw.fm/GAGE

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