420 with CNW – Why 9 in 10 NY College Students Support Marijuana Legalization

A survey done among college students shows that more than 90% of them support the legalization of marijuana in New York State where the laws are in so much flux that one can’t tell which direction cannabis policy will take in a few weeks or months.

The survey involved more than 250 college students in the state. While it can be regarded as an unscientific survey due to its sampling method which encouraged respondents to pass on the questionnaire to their friends and associates (a snowball way of getting survey respondents), the findings are nevertheless reflective of the general sentiments of this demographic.

The survey, conducted by NewsHouse, confirmed that lots of students consume recreational marijuana on the sly, and many more have used cannabidiol (“CBD”) products at least once on their college campuses.

The students revealed that their primary reason for switching to recreational marijuana as their drug of choice is that its effects weren’t as bad as what they suffered after a night out taking alcohol.

Many of the students also said that they are interested in enrolling for courses on marijuana, and this isn’t surprising because many Empire State universities and colleges have seen the keen interest in such courses and therefore started offering them to interested students.

The divide between the college students and their parents was also highlighted during the survey. Many students intimated that they hid their recreational use of marijuana from their parents because the parents believed that once their kids smoked a single joint, the children would start down a slippery road to harder substances. To avoid arguments on the subject, the college students opted to keep their habit on the down low.

During his State of the State address delivered in January, Gov. Cuomo renewed calls for recreational marijuana to be legalized in New York State. His statements drew attention to the often polarized debate on marijuana which stalled last year and was due to resume this year but the COVID-19 outbreak changed the legislative priorities of the state lawmakers. At the end of last year, there was consensus that recreational marijuana should be decriminalized rather than going for full legalization.

New Yorkers now have to sit out another year before seeing recreational marijuana permitted in the state. If the college student survey results are anything to go by, analysts believe that the hopes of the entire cannabis industry, including players like SinglePoint, Inc. (OTCQB: SING), to see marijuana legalized from coast to coast will slowly be realized.

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 – Why NJ Medical Cannabis is Slated to Get a Lot Cheaper

On July 1, New Jersey is slated to reduce the sales tax on medical marijuana from 6.625% to 4%. This move is the first in a series of measures that will see state sales taxes removed entirely within a space of three years. On July 1 next year, the tax will reduce to 2% and the following year (July 1, 2022) will see the reduction to a 0% state sales tax.

However, the sales tax reforms which roll out tomorrow don’t mean that buyers of medical marijuana will not pay any taxes on their purchases. Municipalities within New Jersey are still allowed to impose a 2% sales tax within their jurisdictions, but so far, no town has invoked this provision to levy the tax.

The plan to phase out sales taxes on medical marijuana were part of the Jake Honig Compassionate Use Act enacted into law last year. The bill was named after Jake Honig, a 7-year old kid from Howell who had an inoperable tumor in the brain. Only medical marijuana gave him any relief until he passed in 2018.

Activists raised an uproar about the sales taxes imposed by the state on medical marijuana. This outcry was prompted by the fact that prescription medications are exempted from state sales tax. The activists therefore wanted medical marijuana to be regarded in the same way since it is a prescription medicine in New Jersey.

While the bill was being debated in the state legislature, several lawmakers called the sales tax “criminal” since working class and poor families would suffer an added burden while acquiring the medicine they need.

Currently, more than 77,000 people are registered on the state’s medical marijuana program. However, supply chain problems and the resulting prohibitive prices (medical marijuana can cost approximately $500 an ounce) have plagued the progress of the sector.

As the tax cuts kick in, an ounce of medical marijuana will drop to about $469.15. This will bring some relief to patients, and as the supply issues are sorted, prices could drop even further.

At the moment, only nine clinics are open to sell medical pot to patients across the state. Other locations that were pre-approved haven’t opened their doors to customers due to ongoing legal battles.

In November, New Jersey voters are slated to vote on a ballot measure that could see recreational marijuana legalized. If the bill passes, dispensaries will be allowed to sell recreational marijuana to adults who are 21 or older.

The reduction of the state sales tax on medical marijuana is likely to be welcomed by the entire industry, including Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) since it makes products more affordable for patients.

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HempNewsBreaks – Cannabis Global, Inc. (MCTC) Launches Newest Line of Branded Products – “Hemp & Booch” Super Premium Kombucha

Cannabis Global (OTC: MCTC), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, today announced the launch of its newest line of branded products, Hemp & Booch Super Premium hemp-infused Kombucha. A revolution in the Kombucha beverage market, the product line is based on the finest ingredients available and powered by the Company’s Hemp You Can Feel(TM) infusions. “Hemp & Booch not only sets the standard for taste and purity, but also for the relaxing effect provided by the Company’s patent pending Hemp You Can Feel(TM) infusions,” Arman Tabatabaei, Cannabis Global CEO, stated in the news release. “Our new line is based on the best all-natural ingredients available, and we believe this comes across in the taste of the products, which are now available in sample quantities.”

To view the full press release, visit http://cnw.fm/JdRW2

About Cannabis Global, Inc.

Cannabis Global, Inc., 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 MCTC. 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. The Company 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, to develop new delivery methods for rare cannabinoid Tetrahydrocannabivarin (“THC-V”) and to develop products based on this cannabinoid. For more information, visit the Company’s website at www.CannabisGlobalInc.com.

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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 – Marijuana Could Help Prevent Diabetes Resulting from Severe COVID-19

A lot is being learned about the intersection between consuming marijuana and diabetes. Recently, a team of researchers has revealed that lots of people may be prone to developing diabetes after suffering from the severe forms of the COVID-19 disease. This complication can be alleviated using cannabis, the researchers think.

To confirm this theory, the researchers have set up a registry aimed at gathering data from doctors to establish how many people develop diabetes after suffering from severe COVID-19 and how many of those people had a history of using marijuana either recreationally or for medicinal purposes.

The CoviDiab Registry, as the researchers have called this research registry, is run by a team from the King’s College London in the UK.

They plan on building upon some earlier research which was completed towards the end of 2019. In that study, it was discovered that people who consumed marijuana had moderate blood glucose levels, an indicator that the person was less likely to develop diabetes. A similar study also found that the fasting insulin concentration in study subjects who consumed marijuana was lower than those who didn’t.

The King’s College London team is studying whether marijuana can increase the body’s ability to protect beta cells in the pancreas, thereby averting Type 1 diabetes which develops when the body is unable to make insulin.

The researchers also want to find out whether marijuana consumption accelerates the rate at which insulin production and sensitivity can resume after the ability of an individual’s body to process insulin has been compromised by severe COVID-19.

It is important at this point to emphasize that the link between marijuana use and COVID-19 is two-way. On the one hand, people who smoke marijuana are at a higher risk of contracting COVID-19 because smoke of any kind has an adverse effect on the lungs, thereby increasing your chances of suffering from severe forms of the COVID-19 disease.

On the other hand, marijuana use has been linked to improved metabolic function, a stronger immune system and a host of other therapeutic effects, all which put you in a good place to beat the COVID-19 disease should you ever contract it. The key here is in choosing your mode of marijuana administration carefully so that you get the benefits without exposing yourself to the risks. And above all, consult your doctor, especially when you are predisposed to developing diabetes. This message of caution resonates with what cannabis companies like Sugarmade, Inc. (OTCQB: SGMD) have been communicating to consumers, urging them to educate themselves before trying any cannabis product.

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420 with CNW – Federal Commission Supports Expanding Psychedelics and Cannabis Research for Military Veterans

A federal commission that was asked to generate recommendations which will help to improve how military veterans suffering from mental health issues are treated has come to an unexpected conclusion urging the legislative and executive branches of the U.S. federal government to do everything possible to ease research into psychedelics and marijuana.

After months of meetings, the commission, named Creating Options for Veterans’ Expedited Recovery (“COVER”), released its findings in a report authored in January. Surprisingly, this report hasn’t drawn as much attention as it deserves among the marijuana law reform movement and the media.

The panel, led by Jake Leinenkugel (a presidential nominee), asserted that psychedelics, such as MDMA and psilocybin, as well as marijuana, present promising ways to treat mental health conditions among military veterans.

The panel also noted that while medical marijuana and some psychedelics have been used while treating military veterans, the Schedule 1 status of these substances prevents the Department of Veterans Affairs (V.A.) from doing any research about the efficacy or risks of these treatment options.

Furthermore, the scheduling status of psychedelics and marijuana in the Controlled Substances Act makes it very hard for entities interested in doing research to obtain regulatory approval for the planned studies. The researchers are required to get permission from many federal government agencies, and some of those agencies are openly opposed to any medicinal use of marijuana.

The supply of research-grade marijuana, together with other controlled substances, is woefully inadequate. Reports also indicate that the marijuana available from the sole government-approved supplier in Mississippi is chemically closer to industrial hemp than to the marijuana which is available in the retail dispensaries in states where marijuana has been legalized.

For this reason, the COVER panel recommends that the legislature and the executive arms of the federal government compels NIDA (National Institute on Drug Abuse) to develop varieties of marijuana whose THC content is at par with the medical marijuana that patients are accessing in states with enabling marijuana laws. This will ensure that researchers engage in research whose findings have relevance to the community.

The panel also wrote that using medical marijuana and psychedelics as treatment options for military veterans has cost implications and yet there is limited information about the efficacy and risks associated with these products. The VA was therefore urged to conduct rigorous research so that answers can be obtained about medical cannabis and psychedelics.

In the same vein, physicians working with the VA need to be equipped with research-based information about cannabis, MDMA and psilocybin so that they can have meaningful discussions with the military veterans in their care.

Since the panel has members selected by the President and those co-opted by Congressional leaders, analysts say sector companies like Pure Extracts Corp. hope the report will be given the seriousness it deserves and prompt action taken to correct the problems identified.

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Announces Completion of Non-Dilutive Share Exchange Transaction, Share Structure Update

Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis and hemp branded products company in the U.S., today announced the completion of a non-dilutive share exchange transaction (the “Transaction”), under which an existing Company shareholder exchanged 75,500 Common Shares for 15,100,000 newly created Class B Common Shares (the “Class B Subordinate Voting Shares”), on the basis of 200 Class B Subordinate Voting Shares for each Common Share. Per the update, the aggregate value of the exchanged Common Shares (CAD$0.7405 per share, representing an aggregate value of CAD$55,907.75) was equivalent to the aggregate value of the newly issued Class B Subordinate Voting Shares (CAD$0.0037025 per share, representing an aggregate value of CAD$55,907.75). In aggregate, the 15,100,000 Class B Subordinate Voting Shares represent the same economic and voting rights as the 75,500 Common Shares for which they were exchanged. The Transaction will not adversely impact the economic or voting rights of current holders of Common Shares.

To view the full press release, visit http://cnw.fm/EHJh9

About PLUS

PLUS is a cannabis and hemp branded products company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA. For more information, visit the Company’s website at www.PlusProducts.com.

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CannabisNewsBreaks – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Expiry of Forbearance Agreement with Green Ops

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) on Friday announced the expiration of the forbearance period (“Forbearance Period”) pursuant to the terms of the forbearance agreement (the “Forbearance Agreement”) with Green Ops Group LLC (“Green Ops”) previously announced on May 20, 2020. Per the update, the expiration of the Forbearance Period entitles Green Ops to exercise any and all of its rights under the loan documents and applicable law, and GGB is precluded from contesting any such enforcement action under a separate Voluntary Surrender of Collateral in Satisfaction of Debt and Release Agreement among the parties.

To view the full press release, visit http://cnw.fm/Jc1O6

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 continuing its cannabis operations throughout the U.S., via dispensaries in Nevada and Massachusetts. Learn more about the vision at GreenGrowthBrands.com.

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CannabisNewsBreaks – VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) Issues Update on Adult-Use Products

VIVO Cannabis (TSX: VIVO) (OTCQX: VVCIF), a leading provider of premium cannabis products and services and holder of licenses under the Cannabis Act through its wholly-owned subsidiaries, Canna Farms Limited, ABcann Medicinals Inc. and Harvest Medicine Inc., today provided an update on its adult-use cannabis products. According to the update, VIVO recently made initial shipments of its Fireside X shatter product to several provincial wholesalers, representing its second significant concentrates product format launch with an expected significant contribution to the Company’s revenue. “I am pleased to announce that our early shatter sales have exceeded our expectations. We have shipped to the Alberta and Ontario markets, as well as to British Columbia where the provincial wholesaler sold its entire inventory within the first week,” NCC President Gary McMullen said in the news release. “Being first-to-market has been a strong focus for us.”

To view the full press release, visit http://cnw.fm/ScCv1

About VIVO Cannabis(TM)

VIVO Cannabis(TM) is recognized for trusted, premium cannabis products and services. It holds production and sales licenses from Health Canada and operates world-class indoor and seasonal airhouse cultivation facilities with proprietary plant-growing technology in Hope, British Columbia and Napanee, Ontario. VIVO has a collection of premium brands, each targeting different customer segments, including Canna Farms(TM), Beacon Medical(TM), Fireside(TM), Fireside X(TM), Lumina(TM) and Canadian Bud Collection(TM). The Company is expanding its production capabilities and distribution network. Harvest Medicine, VIVO’s patient-centric, scalable network of medical cannabis clinics, has serviced over 100,000 patient visits. VIVO is pursuing several partnership and product development opportunities and is focusing its international efforts on Germany and Australia. The Company has a healthy balance sheet and is well-positioned to accelerate its path to profitability. For more information visit www.VIVOCannabis.com.

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CannabisNewsBreaks – Psychedelic Investment Opportunities to be Showcased at Benzinga Cannabis Conference’s Virtual Deal Room Event

The Benzinga Cannabis Capital Conference’s Virtual Deal Room event is set to take place Tuesday, June 30 from 10:00 AM – 6:00 PM EDT. This installment of Benzinga’s Deal Room series will shine a spotlight on investment opportunities within the psychedelics industry. Among other highlights, the event will feature presentations and one on one video meetings with selected CEOs within the psychedelics space. Presenting companies include Mind Medicine Inc. (NEO: MMED) (OTCQB: MMEDF) (“MindMed”), a leading neuro-pharmaceutical company for psychedelic inspired medicines, and Ehave, Inc. (OTC: EHVVF), an evidence-based therapeutic intervention provider.

To register for the event, visit http://cnw.fm/hB58i

About Benzinga Cannabis Capital Conference

Benzinga Cannabis Capital Conferences are the premier gathering of cannabis entrepreneurs and investors in North America. The events offer a high level of access and seamlessness of interaction between entrepreneurs building future billion-dollar cannabis enterprises and the investors whose capital will make that happen. For more information, visit www.Benzinga.com/events.

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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420 with CNW – Los Angeles Contemplates Overhauling Legal Cannabis System

Cannabis had been federally prohibited for several decades before public attitudes towards marijuana started changing in the late nighties. As drug reform advocates championed for marijuana legalization, more and more states legalized marijuana with the aim of earning tax revenue from cannabis sales, edging out the illicit market and repairing the damage done by the decades’ long war on drugs.

However, a few years after a number of state-legal cannabis programs were launched, it has emerged that they aren’t as effective as projected. Despite bringing in millions of dollars in tax revenue, states like Colorado and California have had a hard time pulling clientele from the illicit market. Similarly, Los Angeles has had such a troubling legal marijuana program that a City Council Committee has approved a series of changes to it.

The city was once seen as a potential showcase for the budding cannabis industry, but the reality does not measure up to the vision. The illicit market still thrives and licensed shops have repeatedly stated that everything costs too much and it takes too long to deal with City Hall. To make matters worse, the programs designed to help communities that had been unfairly targeted by the decades’ long war on drugs have been slow to take shape.

The proposed changes include tweaking a definition to match language on state law, limiting delivery licenses until 2025 only to businesses that meet “social-equity benchmarks, permitting businesses to relocate while being licensed, clarifying what employees are supposed to be subjected to background checks and streamlining the application process.” Such programs were initially designed to help individuals who were convicted of a marijuana related offense and lower income residents who live or have lived in neighborhoods marked by high marijuana arrests.

According to the city’s top cannabis regulator Cat Packer, the changes are urgent. She noted that the industry and City have been affected by the coronavirus pandemic, an economic crisis and nationwide protests over systemic racial injustice. And with these circumstances, marijuana remains illegal at the federal level, and banking and insurance institutions shy away from cannabis businesses due to fear of federal retaliation.

“The intersection between cannabis policy and racial injustice is clear to me. Black and brown communities have been disproportionately impacted, disproportionately policed, and we made a commitment to actively acknowledge those harms and address the harms of the drug war,” said Packer.

However, according to Adam Spikier, an executive director of the industry group Southern California Coalition, the proposals are a ‘mixed bag.’ They may be well intended, he says, but placing an inflexible limit on who could qualify for a delivery license is “open to a lot of problems” as it could leave out long-standing operators who are already enmeshed in the industry. “I think that creates more problems than solutions,” he said.

Licensing has also been a major issue, with the city being sued this April by license applicants claiming the city’s licensing process is flawed. What remains to be seen is whether these changes will be adopted into the state’s cannabis industry, and industry watchers think entities like SinglePoint, Inc. (OTCQB: SING) will be happier to see any changes implemented rather than remaining on paper without being felt on the ground.

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