CannabisNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Announces Results from 2020 Annual and Special Meeting

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), a global innovator in drug delivery platforms, today announced the results of the 2020 Annual and Special Meeting (the “Meeting”). According to the update, the Meeting was held at 1:00 p.m. (Pacific Time) on June 23, 2020, whereby there were 47,819,789 shares of the Company represented in person or by proxy, constituting 53.38% of the Company’s issued share capital as at May 13, 2020, being the record date of the Meeting. All of the proposals are described in detail in the Company’s proxy statement filed with the Securities Exchange Commission via Edgar and with the BC Securities Commission and Ontario Securities Commission via SEDAR on May 25, 2020.

To view the full press release, visit http://cnw.fm/d1Q8f

About Lexaria

Lexaria Bioscience Corp. is a global innovator in drug delivery platforms. Its patented DehydraTECH(TM) drug delivery technology changes the way Active Pharmaceutical Ingredients enter the bloodstream, promoting healthier ingestion methods, lower overall dosing and higher effectiveness for lipophilic active molecules. DehydraTECH increases bio-absorption; reduces time of onset; and masks unwanted tastes for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (“NSAIDs”), nicotine and other molecules. Lexaria has licensed DehydraTECH to multiple companies in the cannabis industry for use in cannabinoid beverages, edibles and oral products; and to a world-leading tobacco producer for the development of smokeless, oral-based nicotine products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 16 patents granted and over 60 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

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.

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

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

Please see full terms of use and disclaimers on the CanadianCannabisWire 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

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

CannabisNewsBreaks – Marijuana Company of America, Inc. (MCOA) Enters Agreement with LA-Based White Lion for $10M Equity Line

Marijuana Company of America (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced its entry into an agreement with White Lion Capital, LLC (“White Lion”) for a $10,000,000 (ten million U.S. dollars) equity line of credit. White Lion, based out of Los Angeles, is a millennial run equity fund that makes investments into growing public companies. “We are very excited to acquire this new equity credit line as this will facilitate our efforts to execute our marketing strategies and Company projects. We have been working diligently to get all the pieces in place so that our roll-out will be smooth and unified,” MCOA Chief Marketing Officer Gloria Albarran Lynch said in the news release. “Our new product lines are positioned to engage a vast audience, both domestically and internationally. With the strength of the CBD wellness and beauty industry that is expected to grow beyond $25 billion globally in the next decade, we intend to take full advantage of this tremendous opportunity and take a leading position in this market.”

To view the full press release, visit http://cnw.fm/b9CBc

About Marijuana Company of America Inc.

MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART(TM), which targets general health and well-being; (2) an affiliate marketing and retail sales program to promote and sell its legal hemp-based consumer products containing CBD; (3) joint ventures and acquisitions of business entities engaged in the growth and sale of hemp and cannabis products in jurisdictions where cultivation is legal; and (4) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop. For more information, visit www.MarijuanaCompanyofAmerica.com.

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

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

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork

Cannabis Sales Surge During Lock Down

CannabisNewsWire Editorial Coverage: COVID-19 devastated the economy but created a surge in cannabis sales, bolstering long-term trends.

As the pandemic wreaked havoc on the U.S. and global economies, cannabis sales rocketed higher across multiple markets in North America. California cannabis sales soared nearly 160% compared to the same day in March 2019, while sales in Washington climbed 100% and Colorado saw a 46% increase on the same day. This surge gives no indications as a one off and is strong reinforcement of long-term trends in the industry. After a lot of early hype, the cannabis sector is on firm ground and is posting impressive numbers. A strong performer in the sector, Cannabis Strategic Ventures (OTCQB: NUGS) (NUGS Profile), is now on pace for over $2.7 million in quarterly sales and approximately $11 million in annualized sales, based on its strong performance in April and May. Simultaneously, the company increased its harvest size by as much as 2.5x and is now selling product at an 11% premium to industry standard. Powerful new deals confirm sector viability and vitality. Village Farms International Inc. (NASDAQ: VFF), one of North America’s largest vertically integrated greenhouse growers, recently launched a majority-owned joint venture for a large-scale, low-cost, high-quality cannabis production. HEXO Corp. (NYSE: HEXO), an established consumer packaged goods cannabis company, just closed a public offering for total gross proceeds of C$57,546,000. Amyris Inc. (NASDAQ: AMRS), a global science and technology leader of pure, sustainable ingredients for consumer products, just announced a major breakthrough in CBD delivery, improving efficacy of CBD by 10-40X as the carrier oil chassis for the skin care market. Tilray Inc. (NASDAQ: TLRY) a global leader in cannabis research, cultivation, processing, and distribution announced a C$90.4 million registered offering. The surge in cannabis sales during lockdown only adds to a sector that is thriving.

Click here to view the custom infographic of the Cannabis Strategic Ventures (OTCQB: NUGS) editorial.

Pandemic’s Unexpected Windfalls

COVID-19 has had a crippling effect on many industries. Shops and restaurants forced to close, manufacturers unable to operate their plants, companies across the manufacturing and service sectors seeing demand plummet. The layoffs and losses are very real, and no one knows yet what the long-term economic impact will be.

But some businesses actually benefited from the economic disruption the pandemic has wrought. There are obvious ones like pharmaceutical companies and those producing protective equipment for medical staff. There are the tech businesses that facilitate working from home, providing software for virtual workspaces and online meetings. And there has been a huge increased demand for home entertainment, which has spilled over into a less obvious sector – cannabis producers such as Cannabis Strategic Ventures (OTCQB: NUGS) (NUGS Profile).

COVID Lends Cannabis a Lift

Cannabis was already a boom industry in North America. This has been driven by a range of recent changes, such as recreational legalization in Canada, federal legalization of hemp in the US, and the repeal of prohibition across a growing number of states. This has allowed the growth of companies such as Cannabis Strategic Ventures, which cater to a growing market as customers move from criminal supply channels to legal ones.

Demand exploded during the early stages of COVID-19’s spread through North America. According to the Bank of America Securities, there were record sales of cannabis as consumers stockpiled, preparing for a lockdown. While some people bought mountains of toilet paper or tinned food, both medical and recreational cannabis users were making sure they had enough to see them through a crisis.

The result was a spike in sales in April and May, to the benefit of companies with recognizable quality brands such as Cannabis Strategic Ventures. Sales could have been stymied as states locked down and restricted business to control the spread of COVID-19. But most states classified cannabis as an essential product, allowing sales to continue even as other parts of the economy were shutting down.

Together, these factors led to record sales for some cannabis companies, with Cannabis Strategic Ventures celebrating increased sales of cannabis product from its core cultivation facility and adding staff to address the rising demand.

Strong Contender Seizes Market Opportunity

These sales marked an extraordinary month for NUGS. Despite restrictions on business due to COVID-19, the company had record-breaking sales in the final week of April, putting monthly sales 800% higher than the monthly average for Q1.

Any fears that this might be a blip caused by panic buying at the start of the pandemic vanished the following month, when the company announced sales from its most recent harvest. With cannabis sales in the US average roughly $1,525 per pound, the company sold its product at around $1,700 per pound, 11% above benchmark levels. This was a particularly impressive price given that it had been selling at a discount relative to the benchmark only six months before.

Of course, not all cannabis companies will benefit from the crisis. Their ability to profit depends in large part on the strength of their existing business. NUGS had been building up its business prior to the crisis, with the addition of a six-acre cultivation site in 2019, capable of four or five harvests per year.

Seizing the market opportunity brought by COVID-19, the company has announced further improvements in the first half of 2020. Work on both the quantity and the quality of output has more than doubled the output of cultivation facilities while supporting rising prices for its products.

Cannabis Industry Evolves

The long-term expansion of legal markets has led to dramatic growth for cannabis companies over the past decade, and the COVID-19-related influx of revenues provides well-run businesses the resources they need for further expansion. Late April and early May saw Cannabis Strategic Ventures sell out its entire stock every week for a month.

“We have never seen anything like this,” said Cannabis Strategic Ventures CEO Simon Yu. “We booked $100,000 in one day to clear out all of our remaining inventory. We anticipated this dynamic but still underestimated the force of the trend. Too much demand is always the problem you want to have.”

NUGS sold $929,000 of cannabis products in May and expects to see even greater sales in June. Expanded inventory and product range have supported this growth even in a time of crisis, while reinvestment from that growth will let the company further expand its capacity.

Part of the sector’s success comes from producing a varied range of brands and products. Rather than just selling weed, the more successful companies have been developing a variety of cannabis derivatives for different markets. While the recent boom in sales has come from demand for cannabis itself, related brands have diverse interests in supporting long-term growth of the market, normalizing cannabis and its derivatives as consumer products, and protecting companies against a disruption in any individual part of the market.

Cannabis Players Execute on Varied Strategies

The boom in sales brought about by the COVID-19 crisis has created an opportunity for a range of growing companies.

Village Farms International Inc. (NASDAQ: VFF) is one of the largest and longest-operating vertically integrated greenhouse growers in North America. The company announced that its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has received from Health Canada its cannabis cultivation sales license based on an initial production area within its second 1.1 million square foot greenhouse facility in Delta, British Columbia.

HEXO Corp. (NYSE: HEXO) is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The company serves the Canadian adult-use markets under its HEXO Cannabis and Up Cannabis brands, and the medical market under HEXO medical cannabis. The company recently closed a public offering for total gross proceeds to the company of C$57,546,000.

Amyris Inc. (NASDAQ: AMRS) is a global science and technology leader of pure, sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets. The company recently presented clinical data showcasing the superiority of its natural sugarcane squalane (marketed and sold as Neossance Squalane) as a carrier of CBD versus other oils. In order for CBD to be effective in topical applications, skin penetration is a key factor. Amyris sugarcane squalane improves the efficacy of CBD by 10-40X as the carrier oil chassis for the skin care market based on new data.

Tilray Inc. (NASDAQ: TLRY) is a global leader in cannabis research, cultivation, processing and distribution. An industry pioneer, Tilray was the first GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments, and researchers on five continents.

COVID-19 devastated the global economy but spurred a revenue spike in the cannabis industry, substantiating the opportunity in an already rapidly expanding sector.

For more information on Cannabis Strategic Ventures, please visit Cannabis Strategic Ventures (OTCQB: NUGS)

About CannabisNewsWire

To receive instant SMS alerts, 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

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

420 with CNW – Israeli Marijuana Legalization Bills Jump First Hurdle

The past few years have been good for cannabis. Prohibited for decades in most territories, cannabis has seen a slew of positive legislative changes, with a number of countries legalizing the substance in various capacities. Israel has taken the first tentative steps towards legalization after the Ministerial Committee for Legislation approved two bills on Sunday that would decriminalize the possession and personal use of cannabis in the country.

Now past its first hurdle to becoming law, the legislation would decriminalize the possession of up to 50 grams of marijuana and legalize the possession and consumption of up to 15 grams by individuals above the age of 21, with the exception of those who work in security positions. It will also be prohibited to drive while using or under the influence of cannabis. Additionally, an advocacy fund will be set up to educate people in schools about the dangers of using cannabis and to prevent addictions, and all advertising restrictions relating to tobacco will apply to cannabis products as well.

Waiting for the Ministerial Committee’s decision on the bills early Sunday morning, co-sponsor Likud lawmaker Sharren Haskel stated that it “would be big news in the fight for over a million citizens and tens of thousands of patients waiting for the day the State of Israel ceases to treat them as criminals.” She co-sponsored the bills with Kahol Lavan lawmaker Rema Shefa, and they will be brought to the Knesset for a preliminary vote on Wednesday. Kahol Lavan seeks to legalize the possession of certain amounts of cannabis and is examining the possibility of establishing cannabis dispensaries similar to Amsterdam’s coffee shops.

Speaking on the bills’ approval, Haskel said that “for the first time in the state of Israel’s history, my legislative move is officially beginning to regulate the cannabis market in Israel,” adding that she was proud to bring good news to the over one million cannabis users and the tens of thousands of sick people who use cannabis as a treatment in the country. She had said in previous interviews that the law will get final approval within months, and she wrote on social media that it had been a “difficult road, full of struggles politically and in the media, but the determination and persistence have paid off.”

“Many sick people and other cannabis users will soon be able to breathe easier,” Shefa said. “Israel will soon join liberal countries like Holland and Canada. It is taking a big step toward full legalization.”

Analysts say cannabis industry actors, such as Sugarmade, Inc. (OTCQB: SGMD), will be hoping that prohibition ends in Israel soon enough so that patients and recreational cannabis users can exercise their right to consume cannabis without the risk of being arrested and jailed.

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Georgia Legislators Add Marijuana Decriminalization to Police Reform Bill

For the past few years, the US has been stuck in a state of civil unrest, with millions of Americans protesting police brutality against unarmed black folk. Triggered by the tragic murder of George Floyd by a police officer on the streets of Minneapolis, the countrywide protests have forced lawmakers to start working on policing reform legislation. In Georgia, as part of a recently filed comprehensive bill, lawmakers added a provision to decriminalize low-level marijuana possession.

It’s no secret that the decades-long War on Drugs has had a disproportionate effect on the black community. Advocates for the legalization of marijuana have repeatedly stated that legalizing cannabis is the first step in reversing the damage done to such communities. Senate Democrats introduced the Georgia Justice Bill to coincide with the reconvening of the legislative session this week. It covers a wide range of issues such as racial profiling, police body cameras, demilitarizing law enforcement, and cannabis policy reform.

Presently, state law dictates that possession of up to one ounce of cannabis is a misdemeanor punishable by up to one year in jail and a maximum $1,000 fine. The provision to decriminalize low-level marijuana possession would require state law to be amended so that possession of up to half an ounce of marijuana would be a misdemeanor punishable by a maximum $300 fine without the threat of jail time. Possession of more than a half-ounce but less than two ounces would be punishable by up to a year in jail and a maximum $1,000 fine.

“We have long felt the anguish that many Americans of all races are now experiencing. Racism is deeply embedded in our criminal justice system and it has permeated our society. The videos of police brutality that we’ve all seen demonstrate that our system must be fixed and fixed now,” said Sen. Harold Jones II the Democratic Caucus Whip and original sponsor of the bill in a press release. A former prosecutor now in private practice, he has been a longtime proponent of reforming minor drug offenses. He argues that many marijuana possession charges are what lead to over-policing and many times result in injury and even death.

“Cannabis is used as a pretext for thousands of police stops that happen daily in communities of color. Removing cannabis as a justification for police interaction is a reform urgently needed to address systemic racism and abusive policing,” says Marijuana Policy Project State Policies Director Karen O’Keefe. “While the Georgia Justice Act’s provision to stop incarcerating individuals for simple possession of marijuana would prevent trauma, even broader reforms are needed to dramatically reduce police harassment that uses cannabis as an excuse. Decriminalization can reduce arrests dramatically, but for the number of demeaning searches and stops to reduce, legalization is needed.”

It would be interesting to hear what established marijuana companies like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) think about the nationwide ramifications if Georgia enacted this bill into law.

About CNW420

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Announces Plans to Expand into Cannabis Cultivation in Verticalization of BudCars Model

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today announced that the Company is submitting an application to the California Bureau of Cannabis Control to expand into cannabis cultivation as part of a strategic plan to partially verticalize its BudCars model, a process that management strongly believes will further increase the Company’s gross profitability over the long-term and provide a rapid potential path to branded product development. According to the update, the Company has already secured a property containing a 5,000 square-foot indoor premium cannabis cultivation facility located in very close proximity to its Sacramento BudCars hub. “BudCars is a high margin, high-growth business. But it will still benefit from verticalization,” Sugarmade CEO Jimmy Chan said in the news release. “Because we have access to our end-market consumer directly and we have cultivation expertise and a premium grow facility, an expansion into cultivation to connect the dots is a clearly advantageous move. In addition, because BudCars is a rapidly growing distribution channel, we will have a clear edge in the marketplace in terms of the capacity to establish our own branded cannabis product line.”

To view the full press release, visit http://cnw.fm/9TwUT

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Its Brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, please reference 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

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

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork

CannabisNewsBreaks – Willow Biosciences Inc. (TSX: WLLW) (OTCQB: CANSF) Appoints New SVP to Lead Sales and Marketing of New Line of Cannabinoids

Willow Biosciences (TSX: WLLW) (OTCQB: CANSF) on Monday announced that Christopher Speed has joined the Company as Senior Vice President, Sales and Marketing, effective July 1, 2020. In this role, Speed will be responsible for leading the sales and marketing of Willow’s new line of cannabinoids, along with the Company’s strategic planning and customer initiatives. “We are very excited to have Chris join our team,” Trevor Peters, president and CEO of Willow, stated in the news release. “His expertise and experience in sales and marketing along with his strong background in the ingredients space with consumer packaged goods will be an invaluable asset as we transition Willow into a customer-focused Company.”

To view the full press release, visit http://cnw.fm/N7ncF

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company based in Calgary, Alberta, that produces high purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow’s current focus is in the production of cannabinoids for the treatment for pain, anxiety, obesity, brain disorders, among other significant indications. Willow’s science team has a proven track record of developing manufacturing technologies for high purity compounds in pain and cancer treatments. Willow’s manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life changing drugs. For more information, visit the company’s website at www.WillowBio.com.

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

About CanadianCannabisWire

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

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

Please see full terms of use and disclaimers on the CanadianCannabisWire 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

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

CannabisNewsBreaks – Canopy Rivers Inc.’s (TSX: RIV) (OTC: CNPOF) Most Recent Addition to Portfolio of Disruptive Cannabis Companies Receives Health Canada License

Canopy Rivers (TSX: RIV) (OTC: CNPOF) on Monday announced that the most recent addition to its portfolio of disruptive cannabis companies, Dynaleo Inc., has received its Standard Processing License from Health Canada. According to the update, this follows the completion and commissioning of Dynaleo’s 27,000 square foot purpose-built facility and is a key milestone as it aims to ramp up production of white label gummies for the Canadian recreational market. “We are thrilled with the momentum at Dynaleo,” Narbé Alexandrian, president and CEO of Canopy Rivers, stated in the news release. “Data shows that the total addressable market for edibles, and specifically gummies, remains large. Licensed producers haven’t yet been able to scale their production to meet consumer demand for this product category, and brand loyalty has not yet been achieved the same way we have seen in mature U.S. markets for similar products. We believe that Dynaleo will be a key partner in manufacturing gummies brands that will be leaders in the 2.0 market.”

To view the full press release, visit http://cnw.fm/ahAz1

About Canopy Rivers

Canopy Rivers is a venture capital firm specializing in cannabis with a portfolio of 18 companies across various segments of the cannabis value chain. Canopy Rivers believes that bringing together people, capital and ideas raises the potential of the entire cannabis industry. By leveraging its industry insights, in-house expertise, and thesis-driven approach to investing, Canopy Rivers aims to provide shareholders with exposure to specialized and disruptive cannabis companies. The company’s mission is to invest in innovators across the cannabis value chain, help them grow, and ultimately create value by guiding these companies towards a monetization event. Together with its portfolio, Canopy Rivers is helping build the cannabis industry of tomorrow, today. For more information, visit www.CanopyRivers.com.

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

About Champignon Brands Inc.

Champignon Brands (CSE: SHRM) is focused on the formulation and manufacturing of novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutraceutical and psychedelic medicine while being supported by a leading psychedelics medicines clinic platform. The Company is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (“PTSD”), as well as substance and alcohol use disorders. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, the Company is conducting preclinical studies and eventual human clinical trials, with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. Champignon continues to be inspired by sustainability, as its medicinal mushroom-infused SKUs are organic, non-GMO and vegan certified. For more information, visit the Company’s website at www.ChampignonBrands.com.

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

About CanadianCannabisWire

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

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

Please see full terms of use and disclaimers on the CanadianCannabisWire 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

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

420 with CNW – Appeals Court Rejects California Marijuana Firms’ Tax Dispute Due to Mailing Mix-Up

Two California-based marijuana companies had their petition thrown out of appeals court after it was delivered to court a day late by an unapproved delivery service. Organic Cannabis Foundation and Northern California Small Business Assistants (“NCSB”) were challenging a nearly $2 million combined tax bill at the U.S. 9th Circuit Court of Appeals based in San Francisco. However, in a ruling, the judge said this should be a lesson to lawyers representing cannabis companies; the petition was thrown out for arriving at court a day late.

For years, the two firms had been trying to appeal a ruling by the IRS stating that they are subject to Section 280E which doesn’t allow tax deductions related to marijuana because it is still federally prohibited. According to appellate-court documents, Organic Cannabis Foundation owed $1.1 million in taxes and $225,855 in penalties and NCSB owed $531,707 in taxes and &106,341 in penalties.

Their appeal to the IRS decision was due to the U.S. Tax Court in Washington DC on April 22, 2015. According to court records, it was delivered via FedEx “First Overnight” at 7:35 on the morning of April 23, 2015. At the time, the Tax Court said the petition for a review of the IRS decision lacked jurisdiction because it came after the deadline, and the firms’ were hoping to have this verdict appealed at the U.S. 9th Circuit Court of Appeals. However, the Appeals court upheld the Tax Court’s initial verdict.

“This unhappy case presents a cautionary tale about the need for lawyers to ensure that they have done exactly what is statutorily required to invoke a court’s jurisdiction,” Circuit Judge Daniel Collins wrote, framing it as a lesson for attorneys of cannabis companies. Ironically, if the attorneys had used a delivery service the IRS had designated in its public notices, the court would have considered their petition.

The IRS mailbox rule states that: “If any return, claim, statement, or other document required to be filed…on or before a prescribed date under authority of any provision of the internal revenue laws is, after…such date, delivered by United States mail to the agency, officer, or office with which such return, claim, statement, or other document is required to be filed,…the date of the United States postmark stamped on the cover in which such return, claim, statement, or other document…is mailed shall be deemed to be the date of delivery…”

This mailbox rule confirms that a tax document is timely filed with the IRS even though it is not physically delivered to the IRS in time, as long as it is delivered by an approved delivery service.

Although FedEx Priority Overnight and FedEx Standard Overnight were approved by the IRS at that time, court documents state that it wouldn’t be until May 5, 2015, two weeks after the late delivery, that FedEx First Overnight was designated as an approved service.

This unfortunate turn of events is likely to give other industry players, such as SinglePoint, Inc. (OTCQB: SING), vital lessons should they ever have to go to court on issues that affect them.

About CNW420

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Montana Marijuana Legalization Activists Beat the Odds and Submit Needed Voter Signatures

The ongoing coronavirus pandemic has dealt the world a blow it will take years to recover from. The health crisis has stretched healthcare capabilities to the max, and experts say the U.S. economy is already in a recession. Drug reform initiatives have been majorly affected too, with states like New York and Missouri postponing their marijuana legalization initiatives to 2021 and beyond. Montana, however, seems to have weathered the storm after activists submitted the required voter signatures before the deadline.

The New Approach Montana campaign turned in more than 130,000 signatures to qualify two legalization initiatives for the November ballot. Although the coronavirus pandemic forced the activists to put their signature collection activities in pause, they relaunched their efforts in recent weeks and submitted their final petition on deadline day. The first initiative, a statutory measure to establish a regulated market for adults in the state, required about 25,000 valid signatures, and activists turned in about 52,000 signatures.

The second measure is a constitutional amendment backed by the New Approach Montana campaign stipulating that only those 21 and older can participate in the marijuana market. It required about 51,000 signatures and the campaign submitted about 80,000.

“This was the most innovative signature drive I’ve ever seen. The campaign used mailings, online ads, phone calls, and texting. Signature gatherers traveled all across the state collecting signatures every day while strictly adhering to internal health protocols,” says Matthew Schweich, deputy director of the Marijuana Policy Project, which helped coordinate the signature collection efforts.

According to New Approach Montana spokesperson Pepper Petersen, the group overcame a global pandemic, wildfires, floods, hail, snow, and hurricane-force winds. “Our campaign implemented strict health protocols and worked around the clock so that Montana voters could sign our petitions safely and qualify these popular initiatives for the November ballot. We collected signatures from every corner of the state and all 100 state house districts,” she said in a press release.

“The reason we were able to complete our signature drive in a shortened period of time and in spite of inclement weather is the strong support among Montanans for legalizing marijuana for adults,” he said. “We can generate tens of millions of dollars of new tax revenue, create thousands of new jobs, and provide a new source of commercial activity for Montana’s existing small businesses.”

If the measure for creating a regulated cannabis market is passed without the constitutional amendment requiring customers to be 21 and older to access the market, it could lead to an unprecedented situation. Montana could become the first state in the country that allows individuals 18 and over access to legal marijuana.

Industry analysts say sector players like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) are pleased that some good news is still emerging despite the COVID-19 crisis which has battered all industries.

About CNW420

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

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.