Category: CannabisNewsWire Release

Sugarmade Inc. (SGMD) Reports BudCars Q3 Numbers, Company Continues to Post Record Sales

  • SGMD releases key numbers for BudCars Q3 2020 financial report
  • CEO reports that company “continues to perform, setting records in basically every key metric we track”
  • BudCars has seen consistent growth since Sugarmade acquired 40% stake in the Sacramento-based cannabis delivery service

Steadily growing gross margins, more than 60% growth and $2 million in gross receipts are a few of the highlights in an announcement (https://cnw.fm/SLg0m) made by Sugarmade (OTCQB: SGMD) featuring the Q3 2020 numbers for BudCars Cannabis Delivery Service. SGMD owns a 40% stake in BudCars, along with an option to acquire an additional 30%.

“BudCars continues to perform, setting records in basically every key metric we track,” said Sugarmade CEO Jimmy Chan. “It was a tremendous quarter, with a big jump in customers and regional market share and robust margins on every sale. That paints a very motivating picture as we gear up to significantly expand our service territory, with upcoming expansion into the North Bay and Wine Country areas, as well as our upcoming grand opening of BudCars LA.”

The preannouncement of BudCars’ performance for the three months ended Sept. 30, 2020, included the following key numbers:

  • Total Q3 2020 BudCars gross receipts over $1.9 million, which represents a 66% increase quarter over quarter
  • Total Q3 BudCars gross profits of $903,667, representing 64% gross profit growth quarter over quarter on a steady 47% gross profit margins
  • Average daily gross sales increased $21,246, a 68% increase quarter to quarter
  • Total customer tickets increased 62% quarter to quarter on 3% growth in average ticket size

BudCars has seen consistent growth since Sugarmade acquired a 40% stake in the Sacramento-based cannabis delivery service earlier this year (https://cnw.fm/gTCbW). In fact, the company has performed ahead of expectations almost every month since March 2020, seeing consistent growth in almost every area, including increasing new customers, strong repeat business, increasing orders per customer per period, and increasing ticket sizes.

BudCars isn’t the only bright spot on the Sugarmade horizon. The company also recently secured rights to a property zoned for cannabis cultivation (https://cnw.fm/eAiph). The company is already in the process of obtaining cannabis cultivation licensing, preparing archaeological and biological surveys, and assembling documentation related to the architectural and engineering plans for construction of greenhouses and a processing building.

“We believe we have all of the strategic pieces in place to capitalize on cultivation, with the market currently chronically undersupplied,” said Chan. “We also have relationships in place, especially through our BudCars investment, to hit the ground running on the branded products side, driving strong margins up and down the chain.”

BudCars is a retail business that offers same-day delivery of top-quality cannabis. Customers choose from a variety of products including edibles, flower, pre-rolls, vapes, tinctures and concentrate across dozens of premium brands. Once consumers complete their purchases online, they receive their order the same day via BudCars Cannabis Delivery Service.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. Sugarmade is an investor in BudCars and a joint operator of BudCars’ first operating location in Sacramento, California.

During early 2020, Sugarmade gained a 40% stake in BudCars and in the Sacramento delivery operations via the acquisition of a 40% stake in Indigo Dye Group (Indigo). Under the terms of Sugarmade’s agreement with Indigo, Sugarmade also acquired an option to purchase an additional 30% interest in Indigo, upon the closing of which would provide Sugarmade with a 70% controlling interest. As of the date hereof, this option has not yet been exercised; Sugarmade’s stake in Indigo remains at 40%, and there is no assurance that Sugarmade will exercise the option to acquire an additional 30% interest in Indigo.

However, since late May 2020, Sugarmade has been actively involved in development of Indigo’s operations with power to direct the activities and significantly impact Indigo’s economic performance. Sugarmade also has obligations to absorb losses and right to receive benefits from Indigo. As such, in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification 810-10-25-38A through 25-38J, Indigo is considered a variable interest entity (“VIE”) of Sugarmade.

For more information, visit the company’s website at www.Sugarmade.com.

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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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CBDNewsBreaks – Jupiter Wellness Inc. (NASDAQ: JUPW) Secures Exclusive Distribution Agreement for Entire Florida Market

Jupiter Wellness (NASDAQ: JUPW), a cutting-edge wellness brand dedicated to providing multiple therapeutic and medical uses of cannabidiol (“CBD”), today announced its entry into an exclusive distribution agreement for Safe Sea(R) products. According to the update, the initial phase of the agreement is through the end of 2021 and covers all of Florida. Safe Sea develops, markets and distributes the world’s first sunscreen that provides protection from jellyfish stings and sea lice. “Our mission has always been to develop, market and sell the highest quality skin care and sun care products on the market;” Jupiter Wellness CEO Brian John said in the news release. “A distribution agreement with Safe Sea, while not related to our proprietary line of CBD infused sun care products, fits squarely within our larger mission and may open the door to further collaboration and product development down the road with other innovative companies in the space. In addition, it allows us to further monetize our existing sun care distribution network.”

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

About Jupiter Wellness Inc.

Jupiter Wellness is a leading, cutting-edge wellness brand dedicated to exploring the multiple therapeutic and medical uses of cannabidiol via a collection of convenient products and services not found anywhere else in the industry. It is dedicated to advancing research into the multitude of medical and therapeutic uses of CBD for treatment of common ailments like eczema, dermatitis, burns and herpes, among others. The company was formed in 2019 by a collection of professionals from the pharmaceutical, biotech and financial industries, and is headquartered in Jupiter, Florida. For more information, visit the company’s website at www.JupiterWellnessInc.com.

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

About CBDWire

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

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CannabisNewsBreaks – Cannabis Global Inc. (CBGL), NPE to Accelerate Expansion Plan Based on Expected Nationwide Cannabis Legalization

Cannabis Global (OTC: CBGL), a science-forward company developing CBD infusion technologies and products while investing in fast-growing segments of the cannabis industry, today announced an acceleration of its plans to expand operations in the cannabis sector in reaction to the significantly improved prospects for nationwide legalization of cannabis. According to the update, the strategic expansion will be conducted with Natural Plant Extract of California Inc (“NPE”). Cannabis Global recently acquired an 18.8% strategic investment stake in NPE, which holds a special Type 7 California cannabis manufacturing license, allowing for volatile extraction methodologies and cannabis product distribution anywhere in the state. “We are already seeing rapid expansion of cannabis legalization across the United States, with last week multiple states voting to legalize. With a new Biden Administration, we believe the winds of change toward probable federal de-scheduling and legalization are accelerating,” said CBGL CEO Arman Tabatabaei. “With a combination of our growing intellectual property portfolio and the continued expansion of our relationship in the licensed cannabis segment with NPE, nationwide cannabis legalization creates expanding opportunities for our company.”

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

About Cannabis Global Inc.

Cannabis Global, formerly known as MCTC Holdings Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission, trading with the stock symbol CBGL. The company is an emerging force in cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. Cannabis Global has an actively growing portfolio of cannabis investments and intellectual property, having filed six provisional patents relative to the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The company markets its consumer products under the Hemp You Can Feel(TM) brand name. Cannabis Global launched its Project Varin early in 2020 to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (“THV-C”) and develop products based on this cannabinoid. For more information, visit the company’s website at www.CannabisGlobalInc.com.

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

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.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

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420 with CNW — State Reveals Stores Have Sold Marijuana Products Valued at Half a Billion Dollars

For the sixth consecutive month, Illinois has crushed yet another cannabis sales record, having reached a $500-million-worth benchmark of legal marijuana products that have been bought since the program was launched at the start of this year. Illinois has shown that its marijuana market is not only pandemic proof but also recession proof.

Last month, adults bought 1,557,880 cannabis products worth $75,278,200 cumulatively. That’s almost $8 million more than sales in September and about twice the sales recorded in January. These figures do not include purchases made through the state’s medical marijuana program. Based on this, to say the strides made in the market weren’t in the least impressive would be a blatant lie.

It is estimated that about $21 million of these recorded sales came from out-of-state tourists while roughly $55 million in purchases came from in-state residents. In addition, state officials announced in October that the state had surpassed $100 million in revenue due to the high sales. The revenue is being used to fund restorative justice programs and local governments.

Illinois state officials stated that the tax revenue from the market will be reinvested in communities that have been most affected by the drug war. Almost 25% of the tax revenue collected has been designated for restorative justice grants, and other funds will be used to support mental health and substance misuse treatment programs. In May, the state had announced that it would be making nearly $31 million in social equity grants available to communities that had been identified as economically distressed.

Additionally, before the state implemented its cannabis system, Illinois Gov. J.B. Pritzker pardoned more than 11,000 individuals with prior marijuana convictions. The governor also revealed in October that he would be granting more acts of cannabis clemency in the coming months. Amid the coronavirus pandemic, the recent sales numbers also strengthen the argument made by pro-reform lawmakers in various states.

However, not all parties are excited about this increase in sales. An alliance of state medical societies released a joint statement last week that criticized the efforts to legalize cannabis. These statements noted that the various societies appreciated the economic challenges states face as a result of the coronavirus pandemic but urged against legalization of cannabis as a way to address these challenges.

This is despite the fact that South Dakota, Oregon, New Jersey, Montana, Arizona and Mississippi have approved various measures that legalize cannabis in their states during this week’s elections.

The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) is one cannabis sector player you should watch. The company started out providing premium alkaline water, and it has now set its sights on adding topical and ingestible hemp-infused products to its portfolio.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — 5 Mistakes You Should Avoid While Making Cannabis Gummies

Although quite young, the market for cannabinoid-infused products is swiftly growing. Consumers have especially taken a liking to gummies infused with cannabidiol (“CBD”) and THC, the most prominent cannabinoids. According to Google, CBD gummies were the third most searched food by Americans in 2018. All in all, the global market for CBD gummies is expected to register a compound annual growth rate of 31.9% by 2025.

However, creating cannabinoid-infused gummies that consistently sell is no easy task, and one single mistake could leave you with a batch of gummies no one wants to buy. So, as you work to develop your cannabinoid-infused gummies, make sure to avoid the following mistakes;

Sacrificing flavor for potency. Cannabinoids such as THC and CBD have a naturally bitter, hemp-like taste, and at potency ratios above 2 to 3 milligrams of cannabinoid per one gram of gummy, the taste becomes difficult to mask. Since we’re dealing with confectionaries, taste matters a whole lot, and customers will be put off by a gummy that tastes bitter. Going for a super potent recipe will likely result in a potent but bitter product that won’t see many sales.

Lacking consistency, especially when it comes to potency. A lot of people use CBD and THC products for specific reasons, such as pain relief or to improve sleep. If the potency of your gummies doesn’t remain consistent, your customers will not have the same experience every time they buy — and use — your products. Even if they aren’t using it to address a health issue, they will undoubtedly be put off by the lack of consistency in potency.

Not understanding how the ingredients interact. A typical gummy consists of about 80% sugar and corn syrup, 2–8% gelling agent (starch, gelatin or pectin), and less than 1% flavor, acid and color. Gelatin is an easier gelling agent to work with, allowing for a firm, almost transparent gummy. On the other hand, pectin is vegetarian, and sellers who lean in that direction prefer it. However, pectin is harder to work with, sn’t thermally reversible and can ruin a batch of gummies when a mistake is made. Having a thorough grasp of how all the ingredients work together right from the start will save you a lot of time and money.

Not using the right tools. You will need specialized equipment such as a refractometer and a water activity meter to produce high-quality gummies and jellies. Such tools are used to measure the sugar content of the gummy syrup and the water activity respectively, factors that contribute greatly to the quality of your final product.

Improper Curing. Depending on factors such as the type of mold (silicon or starch), the formula, the temperature, and relative humidity of the room, it can take anywhere from 24 to 48 hours for the gel to set and dehydrate. Understanding the proper curing requirements for your specific formula and location will allow you to create the perfect conditions for the gel to set and dehydrate perfectly.

A company you should watch in the marijuana space is Sugarmade Inc. (OTCQB: SGMD). The company specializes in offering delivery services both in the cannabis industry and the quick-service restaurant sector, and the current pandemic has highlighted how valuable such services are.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Maine Medical Cannabis Dispensary Chain Applies to Join Residency Court Case

Last week, Wellness Connection filed a motion to protest a lawsuit against the state of Maine, which was launched by two small marijuana businesses over recreational marijuana licenses that were awarded to out-of-state firms.

Wellness Connection, which is controlled by Delaware-based investor High Street Capital Partners, manages four medical marijuana dispensaries in Maine. The recreational marijuana market in Maine is relatively new, having launched on October 9 of this year. Despite its youth, the market is expected to soon eclipse the medical cannabis market size, with total sales projected to be $76 million this year; adult-use cannabis sales making up $20 million of that amount.

By 2025, it is projected that sales will grow almost four times as high, to $295 million, with adult-use marijuana sales dominating the market sales with $265 million. The cannabis business also promoted the growth of cottage industries such as tourism.

Earlier in March, Wellness Connection sued the state of Maine over a legislation that restricted cannabis businesses with out-of-state owners from participating in the adult-use market. The company dropped the case, however, after the state confirmed that it would not be enforcing the law, which required every manager, director or officer of an adult-use marijuana business to be a resident of Maine and file taxes in the state for at least a four-year period. The state gave the reason that the residency requirement would not hold up in court.

The new motion was filed by the company on behalf of its adult-use business, NPG, in a bid to get the lawsuit of the two medical cannabis caregivers thrown out of court. The caregivers claim that the state cannot decline to enforce the law that restricts out-of-state business owners from setting up shop in the state. This is despite the state eliminating the residency requirement in May of this year.

The new motion puts the state and Wellness Connection on the same side as defendants, which is ironic. The company is currently working on converting its medical cannabis business into an adult-use cannabis business, as its executives believe the latter is more lucrative.

In its earlier lawsuit, Wellness Connection claimed that the requirement hindered the company from raising the funds that would facilitate the transition. Currently, NPG holds an active cultivation license for adult-use cannabis, an active manufacturing license and an additional five conditional approvals for four dispensaries and another manufacturing facility.

One interesting cannabis industry sector player you should watch is Pac Roots Cannabis Corp. (CSE: PACR). This company selectively breeds high-end strains of cannabis in order to make premium products for the Canadian market and its international partners.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Montana Launches Digital Marketplace to Link Hemp Buyers, Sellers

Farmers in Montana have taken a great liking to industrial hemp, a variety of cannabis that doesn’t have any psychoactive effects. The state legalized its cultivation back in 2014 under a federal program, with the first legal crop being planted in 2017. Licensed Montana farmers grew more acreage of hemp than any other U.S. state in 2018, and although other states have since surpassed Montana’s hemp output, the state is still an industry leader.

Now, thanks to a new online Hemp Marketplace, Montana hemp farmers will be able to market their products to a wider market of sellers. Announced by the state in late October, the online portal is designed to connect hemp farmers with buyers in search of seeds, fiber and hemp derivatives such as cannabidiol (“CBD”). The portal can be accessed by visiting the Montana Department of Agriculture’s (“MDA”) website.

The concept for the Hemp Marketplace comes from the MDA’s Hay Hotline, which connects buyers and sellers of hay and pasture. “Only instead of hay and pasture, the online tool connects buyers and sellers of hemp and hemp derivatives,” the Hemp Marketplace website states. “Due to hemp’s status as a regulated crop, only growers licensed through the Montana State Hemp Program are permitted to list their hemp for sale.

All listings, which are free, must adhere to the federal and state THC limit of 0.3%. The online portal will be split into “Hemp for Sale “ and “Hemp to Buy” categories, and the listings will include what type of products are on offer or in demand, whether or not a given crop is organic and whether third-party lab testing data is available. The Hemp Marketplace also organizes products into one of four varieties based on whether or not the hemp seeds have been certified by regulators.

In the meantime, players in the cannabis market have been waiting with bated breath for Montana residents to vote on the state’s legalization initiative. Based on a poll released by Montana State University, passage of the bill seems likely. The survey found that 54% of likely voters plan to support legal cannabis, 38% oppose it while 7% remain undecided.

“With hemp being a relatively new crop grown in Montana, the department recognizes that these markets are still developing,” says MDA Director Ben Thomas. “The Hemp Marketplace was developed to help facilitate connections between buyers and sellers. I’m looking forward to seeing how the marketplace will continue to advance the industry.”

A company you should watch in the cannabis sector is Pure Extracts Technologies Corp. (CSE: PULL). The company focuses on hemp and cannabis processing, and it has also entered the functional and therapeutic psychedelic products.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Sugarmade Inc. (SGMD) Undertakes Marketing Analysis Ahead of Planned BudCars Expansion

Sugarmade (OTCQB: SGMD) today announced that, in anticipation of the planned expansion of the BudCars cannabis delivery service into new territories, it has undertaken an analysis of the efficacy of marketing spending relative to market size and population for the existing BudCars regional delivery footprint. According to the update, Sugarmade believes this may provide some insight into performance benchmarks and expectations related to the anticipated expansion into the North San Francisco Bay Area and the Wine Country counties, followed by Los Angeles. “We are very confident in the ROI associated with spending on BudCars marketing in connection with BudCars’ expansion,” said Jimmy Chan, CEO of Sugarmade. “We have seen at least a six-to-one multiple in terms of sales relative to marketing expenditure overall, with more than twice the market share and total sales where investments have focused more on cultivating new customers. We believe this bodes well for the marketing approach as BudCars enters the North Bay and LA Metro markets.”

To view the full press release, visit https://cnw.fm/vjN3D

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, visit www.Sugarmade.com. Sugarmade is an investor in BudCars and joint operator of BudCars’ first operating location in Sacramento, California. During early 2020, Sugarmade gained a 40% stake in BudCars and in the Sacramento delivery operations via the acquisition of a 40% stake in Indigo Dye Group. Under the terms of Sugarmade’s agreement with Indigo, Sugarmade also acquired an option to purchase an additional 30% interest in Indigo, upon the closing of which would provide Sugarmade with a 70% controlling interest. As of the date hereof, this option has not yet been exercised, Sugarmade’s stake in Indigo remains at 40%, and there is no assurance that Sugarmade will exercise the option to acquire an additional 30% interest in Indigo. However, since late May 2020, Sugarmade has been actively involved in development of Indigo’s operations with power to direct the activities and significantly impact Indigo’s economic performance. Sugarmade also has obligations to absorb losses and right to receive benefits from Indigo. As such, in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification 810-10-25-38A through 25-38J, Indigo is considered a variable interest entity (“VIE”) of Sugarmade.

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

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.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

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CannabisNewsBreaks – Cannabis Global Inc. (CBGL) Announces Filing of PCT Application to Protect Proprietary Cannabinoid Delivery System

Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies and products, has filed a Patent Cooperation Treaty (“PCT”) that seeks international protection of its proprietary cannabinoid infusion system for beverages, foods and consumer products. The PCT is aimed at seeking patent protections for inventions resulting from CBGL’s Project Varin research program. Specifically, the application relates to innovative methods for the creation of highly bioavailable and ultra-fast-acting cannabinoids for use in beverages, food, topicals and other applications. Noting that this technology is revolutionary, the company believes its breakthrough research could potentially result in substantial cost reductions and efficacy enhancements, as well as significantly faster onset of active cannabinoids ingredients. “At Cannabis Global we hold the opinion that not only will cannabis be soon descheduled and legalized within the United States, but in many other areas of the world,” said Cannabis Global CEO Arman Tabatabaei. “It is important for our company to start on the PCT process as soon as is possible to ensure we will be able to capitalize on the expected wave of global cannabis legalization, especially relating to Southeast Asia and within the European Union where legalization and decriminalization is already well underway.”

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

About Cannabis Global Inc.

Cannabis Global, formerly known as MCTC Holdings Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission. The company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp- and cannabis-infusion technologies. The company does not engage in the production, distribution or sales of any controlled substances, including marijuana. CBGL has an actively growing portfolio of intellectual property, having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The company markets its consumer products under the Hemp You Can Feel brand name. Cannabis Global launched its Project Varin early in 2020, designed to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (“THV-C”) and to develop products based on this cannabinoid. For more information about the company, visit www.CannabisGlobalInc.com.

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

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 – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) to Release Q3 Results, Host Conference Call

The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified organically grown cannabis, announced that it will release its third quarter financial results following the market close on Tuesday, November 10, 2020. In addition, the company will hold a conference call with analysts beginning at 9:00 a.m. ET on Wednesday, November 11, 2020. Interested parties may join the call by dialing 1-416-764-8688 (Local – Toronto) or 1-888-390-0546 (Toll Free – North America) and entering conference ID 68691087. An audiocast of the conference call will be available on a listen-only basis at https://cnw.fm/4SEVN. Scheduled speakers are Brian Athaide, chief executive officer, and Sean Bovingdon, chief financial officer, followed by a question and answer period with analysts.

To view the full press release, visit https://cnw.fm/L18Mg

About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended. The company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next–generation cannabis products such as organic teas, dissolvables and vapes. Through its European subsidiary, HemPoland, the company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.

TGOD’s Common Shares and warrants issued under the indentures dated November 1, 2017, December 19, 2019, June 12, 2020, and October 23, 2020, trade on the TSX under the symbol “TGOD,” “TGOD.WT,” “TGOD.WS,” “TGOD.WR” and “TGOD.WA,” respectively, and TGODF trades in the U.S. on the OTCQX. For more information about the company, please visit www.TGOD.ca.

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

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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