Category: CannabisNewsWire Release

CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Announces Record BudCars Sales Growth as It Gears Up to Open First LA Hub

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today announced record growth in gross profits and gross profit margins for BudCars sales during the month of May (up 46% on a sequential month-over-month basis). Per the update, the Company continues to experience strong signals during the first half of June, with gross profits growing 9.9% on a week-over-week basis and believes this performance data provides a template for its per unit operational performance anticipated as it prepares for next month’s launch of its first Los Angeles hub. “As we gear up to open our first new hub in the Los Angeles regional market, we continue to see very good signs from our Sacramento hub, with the very rapid topline growth clearly translating to the bottom line as margins hold up and even improve,” Jimmy Chan, CEO of Sugarmade, stated in the news release. “As we recently reiterated, BudCars is not a delivery business comparable to GrubHub or Uber Eats. It is a top cannabis retail business with very consistent 46-52% gross margins on a wholesale inventory with very secure logistical underpinnings. This differentiation has been a source of misunderstanding, and it is critical to fully appreciating our value proposition and our strategy as a Company moving forward.”

To view the full press release, visit http://cnw.fm/5l7Ou

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

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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HempNewsBreaks – SinglePoint, Inc. (SING) CEO Showcases Nicotine-Free/Tobacco-Free 1606 Product in New Video

SinglePoint (OTCQB: SING) on Monday announced that its CEO Greg Lambrecht was featured in a recent video to showcase the latest point of sale display for 1606. According to the update, the tobacco-free and nicotine-free product was created for individuals looking for an alternative to traditional smoking. “We’re looking for the 40 to 65 or 70-year-olds who maybe smokes five cigarettes a day. We’re trying to reach that demographic that wants to quit,” Lambrecht said in the interview. “And, when I say quit, instead of smoking a cigarette that has nicotine in it, they’re going to smoke a hemp cigarette that has no nicotine, no tobacco, and the CBD experience with less stress, which we could all use in these times right now.”

To view the full press release, visit http://cnw.fm/2BdWm

About SinglePoint, Inc.

Founded in 2011, SinglePoint, Inc. invests in and acquires brands and companies that will benefit from injection of growth capital and its sales and marketing expertise. The company’s portfolio currently includes solar, hemp and technology applications. SinglePoint is working to grow the company to a multi-national brand. For more information, visit the company’s website at www.SinglePoint.com.

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

About HempWire

HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.

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420 with CNW – Why the Marijuana Black Market Still Persists in California

California is one of the best examples of just how much a state-legal marijuana program can achieve if it’s done right. The state has been at the forefront of the efforts to legalize cannabis in the U.S., with the country’s first ballot initiative to legalize marijuana taking place in California in 1972. Although the measure was unsuccessful, California was still the first state to allow medical cannabis in 1996, and recreational marijuana has been legal in the state since 2016.

The recreational program has been especially successful, generating over $1 billion in tax revenue after just two years of operation. These funds have gone towards environmental initiatives like wild-land restoration and park maintenance, childcare and anti-drug programs, and safety grants for fire departments and local police. However, despite all the good it has done, more people prefer to get their marijuana from the black market than the state legal circuit. Why?

Taxes are super high. Most, if not all of the states with legal adult-use cannabis tax cannabis sales at exorbitant rates. It is one of the most compelling reasons for legalizing cannabis, and tax revenue from cannabis sales has been dedicated to several worthy causes. California, for instance, charges cultivators a state tax of $9.25 per ounce of flower, $2.75 per ounce of leaves, and $1.29 per ounce of fresh plant material. It also requires retailers to charge customers a 15% excise tax on top of the market price of any cannabis product and allows counties and cities to levy their own taxes.

Most of these taxes are passed on to the customers and as a result, they end up paying between 40-80% above the standard price for marijuana. The black market, however, is not subject to any taxes and sells at much lower prices, and this attracts a large number of customers away from legal cannabis retailers.

There are few licensed dispensaries, and this limits the supply of legal weed to the market. Every state with legal weed requires the sale of cannabis to be carried out at a licensed dispensary, but municipalities seem to be dropping the ball. The current amount of licensed facilities is nowhere near enough to fulfill the demand for cannabis, and municipalities are failing to provide more licenses to alleviate this. This means that in many places, people do not have access to a licensed dispensary despite weed being legal, or they are subjected to interminably long lines, so they opt for the black market.

Not all cities have legalized cannabis. Although the sale of cannabis is indeed legal statewide, not all counties and cities are required to provide licenses to prospective retailers. By 2019, only half of all counties in California had opted in on commercial cannabis sales, and this has left customers in numerous places with only one alternative, the black market. While the state’s legal cannabis program has been largely successful so far, excessively high taxes, over-regulation, and inequitable access may be its ultimate undoing.

Analysts say that cannabis sector players like Round Meadow Holdings Corp. and Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) hope that other jurisdictions which are planning to legalize marijuana consider the lessons observed in California and design ways to stifle the black market more effectively.

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 – Nevada Governor Introduces Bill to Pardon Marijuana Convicts

For the past few decades, marijuana has been federally prohibited, and the infamous ‘War on Drugs’ has been responsible for tons of marijuana arrests and convictions. Even with multiple states legalizing cannabis in various capacities over the years, a large percentage of drug arrests are still marijuana-related. In 2018, four in ten arrests were marijuana-related, and around nine in ten of the arrests were for possession, not selling. One of the biggest arguments for legalizing marijuana has been to right these wrongs and ensure people with low-level marijuana convictions are not held back by their records again.

On Thursday, in an effort to undo the effects of the War on Drugs, the governor of Nevada announced a new resolution that could see thousands of Nevada residents with convictions for low-level marijuana convictions receive blanket pardons. “Today I am placing a resolution on the Board of Pardons Commissioners agenda next week to provide relief to tens of thousands of Nevadans previously convicted for possession of small amounts of marijuana which is no longer a crime in the state,” said Governor Steve Sisolak on Twitter.

Last year, he signed a bill that would provide people with cannabis convictions a means to petition the courts for an expungement. However, this new measure would offer proactive pardons for anyone convicted of possession of up to an ounce of marijuana. “The people of Nevada have decided that possession of small amounts of marijuana is not a crime,” said the governor, referring to the state’s 2016 vote to legalize cannabis for adult use. The purchase, possession, and consumption of recreational marijuana, with some restrictions, became legal for people over the age of 21 on January 1, 2017.

“If approved, this resolution will clear the slate for thousands of people who bear the stigma of convictions for actions that have now been decriminalized.” The proposed resolution would pardon people who in the past were convicted for possessing less than an ounce of marijuana but, it would not apply to convictions of possession for the purpose of sale. The board is set to meet on Wednesday, June 17, with the agenda designating time for a “discussion that may include but not limited to the resolution regarding pardons for persons convicted of minor marijuana possession.”

If the resolution goes through, Nevada will join a list of growing states which have pardoned marijuana convicts after legalizing it. Washington and Illinois have both issued pardons for cannabis convictions, and other top state officials have stated that such pardons will go a long way in addressing the racial inequalities perpetrated by the decades’ long War on Drugs.

This initiative by the Nevada governor is likely to be applauded by industry actors like Sugarmade, Inc. (OTCB: SGMD) who would like to see the injustices of the past erased so that the affected people can have a chance to rebuild their lives.

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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CannabisNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Expands Agreement with Stillwater Brands to Launch RIPPLE Suite of Products

The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, today announced the expansion of its exclusive licensing agreement with Colorado-based Stillwater Brands, under which it will be rolling out the powerful RIPPLE suite of products in Canada, including RIPPLE Gummies and RIPPLE QuickSticks. According to the update, TGOD leveraged Stillwater’s proprietary technology to launch its first Cannabis 2.0 product at the end of March – TGOD Infuser 10mg THC – which quickly became one of the top selling SKUs within the beverage category across the country. Given the first product’s success, TGOD has decided to expand the series by introducing additional formats. “Soluble cannabinoids are the future of functional foods,” Justin Singer, CEO of Stillwater Brands, said in the news release. “Similar to what we saw in Colorado, the Canadian market was overrun by inconsistent, low-quality products early on. Novelty can only carry a product so far. Ultimately, consistency and predictability are what keep consumers coming back. The success of RIPPLE in Colorado proves the value of our commitment to quality above all, and TGOD’s commitment to organic, high-quality products makes them an ideal partner to carry our vision beyond the U.S.”

To view the full press release, visit http://cnw.fm/qqG78

About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US–OTC: TGODF) is a premium certified organic cannabis company focused on the health and wellness market.  Its certified–organic cannabis is grown 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 and December 19, 2019 trade on the TSX under the symbol “TGOD”, “TGOD.WT” and “TGOD.WS”, respectively, and TGODF trades in the U.S. on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., 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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CannabisNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Announces Strategic Board Appointment of Canopy Growth CFO Mike Lee

Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, today announced appointment of Canopy Growth Corporation (“Canopy Growth”) (TSX: WEED), (NYSE: CGC) Chief Financial Officer Mike Lee to its Board of Directors (the “Board”). According to the update, the Company expects that Lee’s experience at Canopy Growth, Constellation Brands, Inc. and other leading consumer packaged goods and beverage companies will help strengthen its strategic execution as it continues to focus on developing a leading global cannabis portfolio. “Mike’s addition to our Board is another sign of our strong and growing relationship with Canopy Growth and Constellation Brands,” John Bell, chair of Canopy Rivers’ Board, stated in the news release. “We expect that this will benefit both of our companies, as well as our portfolio companies, as we exchange industry insights and further leverage the guidance and expertise of the largest cannabis company in the world.”

To view the full press release, visit http://cnw.fm/TLn9h

About Canopy Rivers

Canopy Rivers is a venture capital firm specializing in cannabis. Its unique investment and operating platform is structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers identifies strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire portfolio. 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 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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CannabisNewsBreaks – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Leadership Change

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) on Friday announced that Brian Logan is stepping down as chief financial officer, effective July 15, 2020.  Logan has served as GGB’s CFO since January 2019. “On behalf of GGB, I want to thank Brian for his many and significant contributions during his tenure as CFO of the Company,” Randy Whitaker, GGB’s interim CEO, said in the news release. “I wish him the best of luck in his future endeavors.”

To view the full press release, visit http://cnw.fm/1s2WU

About Green Growth Brands Inc.

Green Growth Brands creates remarkable experiences in cannabis. The company’s brands include CAMP, The+Source and 8 Fold. GGB is expanding its cannabis operations throughout the U.S., via dispensaries in Nevada, Massachusetts and Florida. Learn more about the vision at GreenGrowthBrands.com.

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

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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CannabisNewsBreaks – Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496) Provides Corporate Update

Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496), a human optimization sciences company with an emphasis on ketamine and psychedelic medicine, on Friday provided a corporate update. Since commencing trading on March 2, 2020, the Company has expanded its initiatives and rapidly executed on such initiatives to position it as a leading publicly traded psychedelic medicine company developing novel rapid onset treatments for depression, post-traumatic stress disorder (“PTSD”), and substance-use disorders (“SUD”) via the clinical delivery of ketamine and ketamine-derivatives. In the update, the Company shared its corporate advancements and achievements over the last quarter, which target key segments in the psychedelics as medicines industry that will complement each other as the sector matures and accelerates. “While the topic of medical psychedelics has recently gained worldwide momentum, I am exceptionally pleased with the strategic approach our team has taken in establishing a differentiated platform with operating treatment clinics in the U.S. and Canada that also facilitate research and development of a wide range of therapeutic and medical applications,” Champignon CEO Dr. Roger McIntyre stated in the news release. “We have made tremendous progress to date and have proven our ability to quickly seize opportunities in this rapidly emerging industry. Looking forward to the second half of 2020, we will continue to work towards entering new markets and delivering new and innovative solutions throughout North America.”

To view the full press release, visit http://cnw.fm/dIfT5

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

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 – South Dakota to Vote on Legalizing Marijuana in November Ballot

The past few years have been game-changing for the cannabis industry. As attitudes towards it change and research into cannabis’ effects is carried out, more states have been legalizing it. At least 30 states have passed legislation allowing medical and recreational use within their borders, and activists in other states have been hard at work with their own marijuana legalization campaigns.

This November, voters in South Dakota will vote on whether or not to legalize both medical and recreational cannabis in the state. If they choose to legalize, South Dakota will become the first state to approve both medical and recreational marijuana at the same time. The two measures, Amendment A and Initiated Measure 26 would legalize, regulate, and tax cannabis and establish a medical marijuana program for qualifying patients respectively.

Under Amendment A, individuals 21 and older would be allowed to possess up to an ounce of marijuana grown in South Dakota, or to grow, transport, or distribute it in South Dakota to individuals 21 and older. A 15% excise tax would be charged on sales, with part of it going to the Department of Revenue to pay for regulation and the rest being dedicated to state aid to public schools and the state government’s general fund.

On its website, South Dakotans for Better Marijuana Laws says that “when something is broken it has to be fixed” and it states that these two measures represent a commonsense solution to a failed status quo. “Our marijuana policy reform initiatives will help veterans and patients who have serious health conditions, improve public safety, and generate new revenue.”

According to Brendan Johnson, former U.S. Attorney and member of Better Marijuana Laws, the outright prohibition of cannabis does not work. “Of course that does not mean we favor no restrictions on cannabis. We certainly do.” Of a similar school of thought is Chuck Parkinson who worked for President Reagan’s administration on the frontlines of the infamous War on Drugs. “I’ve come to the conclusion after all these years, we’ve spent hundreds and hundreds of millions of dollars and really gotten no results and we’ve ruined lives. We have taken away productive citizens who cannot get jobs, because they may have a drug conviction on their case file,” he says.

If the state is to legalize recreational and medical marijuana, law enforcement will have to be part of the discussion. “Anytime somebody’s talking about a big change like that, there’s obviously a lot of stakeholders involved and I think getting perspective from law enforcement can be very valuable,” says Sam Clemens, a public information officer for the Sioux Falls Police Department.

Industry actors like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) may be hoping that the people of North Dakota who badly need medical marijuana will finally heave a sigh of relief when voters approve the measure to create a regulated marijuana market.

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 – Dutch Government Starts Recruiting Farmers to Take Part in Marijuana Experiment

On Tuesday, the Dutch Justice Ministry announced that growers who wished to take part in the Dutch government’s regulated marijuana experiment can sign up to apply from July 1. The project, which will see a maximum of 10 growers licensed to produce a variety of marijuana products, has been designed to remove the gray area surrounding coffee shops. Although they have permits to sell marijuana, most of them rely on an illegal circuit of suppliers as production and distribution of marijuana is prohibited.

“The government wishes to initiate an experiment involving the cultivation of cannabis for recreational use. The purpose of the experiment is to ascertain whether or not it is possible to regulate a quality-controlled supply of cannabis and to study the effects of a regulated supply chain on crime, safety, public nuisance, and public health,” says the government website. The experiment will last four years with an option of extending it for another one and a half years.

For a prospective grower to be eligible, they must be a resident of the Netherlands or a legal entity with a Dutch address. They must already have a business location in the Netherlands or a location in mind where they want to grow the marijuana. They will also be required to submit an application form containing a Certificate of Good Conduct, the cultivation location, and their cultivation plan. The plan will outline how many pounds of marijuana they plan to grow on an annual basis and how many variations they expect to produce.

They will also be required to submit a business plan detailing how they want to organize their business operations and administration as well as a security plan showing how they intend to keep their marijuana safe and transport it to the coffee shops they will be delivering to. According to officials, it will take up to six months to select the 10 growers who will take part in the experiment. The trials are due to start in 2021, and ten local authorities, including Breda, Almere, and Tilburg will be taking part.

However, the four biggest cities in the country have declined to be part of the experiment citing numerous issues with the proposal, such as the limited four-year window which will not be extended even if the program is successful. Additionally, the requirement that all coffee shops within a council area have to participate in the program will make control and oversight impossible as places like Amsterdam have over 150 coffee shops. The shops will also be prohibited from selling foreign marijuana which currently makes up 25% of sales.

This is an experiment that North American marijuana companies like SinglePoint, Inc. (OTCQB: SING) are likely to watch closely as its lessons could be picked by other jurisdictions, such as the U.S. federal government, taking a lot of flak for not implementing a regulated cannabis industry.

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