CannabisNewsBreaks – ChineseInvestors.com Inc. (CIIX) CEO Provides Business Update on MoneyTV with Donald Baillargeon

ChineseInvestors.com (OTCQB: CIIX) was featured on this week’s episode of MoneyTV with Donald Baillargeon. The internationally syndicated program, viewed in over 200 million households and more than 75 countries, covers money-focused topics and features in-depth interviews with CEOs and executives offering insights into various companies and their operations and future outlooks. Among other highlights, this week’s episode featured CEO Warren Wang as he announced that the company recently received government stimulus funding. “I’m so glad that we still have 60 employees, we still have a big payroll,” CIIX CEO Warren Wang stated in the interview. “We received the government money and it temporarily stabilized our balance sheet.”

To view the full press release, visit http://cnw.fm/a8dF6

About ChineseInvestors.com Inc.

Founded in 1999, ChineseInvestors.com endeavors to be an innovative company by providing (a) real-time market commentary, analysis and educationally related services in both traditional and simplified Chinese language character sets; (b) advertising and public-relations-related support services; and (c) retail, online and direct sales of hemp-based products and other health-related products. For more information, visit the company’s website at www.ChineseInvestors.com.

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

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 – Cannabis Businesses Hit by Vandals and Robbers During Ongoing Protests

On May 25, 2020, George Floyd, a black man, died at the hands of a Minneapolis Police Department officer, leading to nationwide protests against systemic police brutality against unarmed black men. Although the protests were peaceful at first, they became violent, leading to widespread rioting and looting over the weekend. Tons of business establishments nationwide have been affected by the looting, and marijuana businesses haven’t been spared.

Dozens of cannabis shops in Oregon, Illinois, San Francisco and California have been vandalized and according to the business owners whose businesses were hit, looting was carried out by professional criminals, and not the protesters themselves. Cannabis retailers in California which were looted include Cookies, Blum, MedMen, and Harborside, and reports indicate the shops in San Francisco Bay Area were especially hit.

Although they don’t have definitive figures, cannabis retailers have likely suffered thousands of dollars’ worth of damage, and it not yet clear whether it will be covered by insurance. According to Sue Taylor, owner of the Farmacy Berkely which opened for business in early 2020, her store was broken into three times over the weekend by armed robbers. Several cars pulled up outside her shop after midnight on Saturday carrying roughly 30 individuals who overwhelmed her security guards.

“They busted through the front door and did a grab-and-snatch. They got a little product but not a lot, because all the money was in the vault, and they tore up one display. They took five, six minutes, and the police were there within six minutes,” Taylor said. Fortunately, the police arrived minutes after the break in and prevented further loses, she says.

The looters were back early Monday morning, and as there was no merchandise to be had at that point, she says, the looters started “tearing up” the shop. Although she sides with the Black Lives Matter protesters, she is feeling “very conflicted” now that her family-owned business is in the looters’ cross hairs. “It’s very conflicting. It’s two sides to every story, and even though I don’t agree with what they’re doing, there’s some part of me that understands as an African American.”

Magnolia Wellness in Oakland, California was also hit multiple times over the weekend and according to CEO Debby Goldsberry, “cleaned out” of its cannabis inventory. Like Taylor, she believes the vandalism wasn’t done by protesters but by criminals using the protests as cover for their nefarious activities.

“It’s not the work of rioters or looters or protesters. There’s organized gangs that have been targeting cannabis businesses for years. That’s what it is.”

Analysts say cannabis companies like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) are probably very disappointed by the looting targeting pot shops since the cannabis industry has been very vocal in campaigning for the rights of marginalized sections of the community.

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 – Poll Shows Most Arizona Voters Support Cannabis Legalization Measure

Cannabis has come a long way indeed. Despite suffering federal prohibition for decades, attitudes towards the plant are changing, and more people are looking at cannabis with an open mind. At the moment, numerous states have legalized either medical or recreational marijuana, or even both, and despite the current coronavirus crisis, there are several legalization initiatives currently in the works.

According to a new poll, if marijuana activists in Arizona are able to place a legalization initiative before voters this November, it will likely pass by a wide margin. The survey described the proposed measure, the Smart and Safe Arizona Act, and asked 400 likely voters if they would support it should it be put to ballot. The legalization initiative would make it legal for adults 21 and older to purchase and possess cannabis, and it would also impose a tax on legal sales.

Two thirds, or 65.5% of the respondents said they would support the proposed measure, an 11.5% increase from the 54% who said were in favor of a policy change in a poll late last year. 47% of the respondents said they would ‘definitely’ support the measure and 18.5% said they would ‘probably’ back it. On the other hand, 19% of the respondents said they would ‘definitely’ not back the measure and 6% said they ‘probably’ wouldn’t support it.

Smart and Safe Arizona, the campaign behind the legalization initiative, stated in April that it had collected more than enough signatures to qualify for the ballot. By the end of March, Smart and Safe Arizona had collected more than 320,000 signatures, which was about 80,000 more than was required to make the ballot. The campaign says that the signatures haven’t been verified by the state yet, and it has pledged to continue petitioning to ensure it is successful.

Stacy Pearson, campaign manager for Smart and Safe Arizona, says they are on track to turn in more than 400,000 signatures by the July 2 deadline. “The HighGround poll is encouraging and tracks with what our internal polling shows, Arizonians are ready to legalize marijuana. Particularly in this economic environment, new jobs and tax revenue are important to voters.”

The poll, which was conducted from May 18-22, found that the only group that appeared divided on the issue was those who identified as ‘very conservative’. All the other demographics were firmly in the legalization camp.

“As long as Smart and Safe Arizona can qualify for the ballot, all signs point to 2020 being the year that recreational marijuana finally becomes legal in Arizona,” Paul Bentz, Senior Vice President of research and strategy at HighGround says. “Of course, there is still strong opposition among some of those who represent the most conservative segments of the electorate. We should expect a legal challenge coming from that audience because at this point, that’s likely the only way they can defeat this issue.”

The possibility of getting recreational marijuana legalized in Arizona during the coming election is likely to be seen as welcome news by sector players like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) in a year that has been unexpectedly hard for the entire industry, especially given the disruptions caused by the ongoing pandemic.

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CannabisNewsBreaks – Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496) Names New CEO

Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496), a human-optimization sciences company with an emphasis on ketamine and psychedelic medicine, recently named Dr. Roger McIntyre as chief executive officer. An article discussing the company reads, “In his new role, Dr. Roger McIntyre brings impressive experience in the ketamine and psychedelic medicine space, a key focus area for Champignon. . . . ‘My overarching aim as chief executive officer is to establish Champignon as the apotheosis of integrated ketamine treatment delivery and the commercialization of our own IP psychedelic-based treatments,’ McIntyre stated in a news release. ‘The clinical infrastructure, complementary asset base and human capital that Champignon has acquired leaves me very confident we will provide life-changing treatments for persons with depression, all the while contemporaneously rewarding our investor base.’”

To view the full article, visit http://cnw.fm/8TrHA

About Champignon Brands Inc.

Champignon Brands is focused on the formulation and manufacturing of novel ketamine, anesthetics 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 standalone 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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CannabisNewsBreaks – Cannabis Strategic Ventures, Inc. (NUGS) on Pace to $11 Million in Annualized Sales

Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. cannabis marketplace, today announced new projections for calendar Q2 sales. According to the update and based on its performance in April and May, the Company is now on pace for over $2.7 million in quarterly sales and approximately $11 million in annualized sales. “We believe we can drive further significant organic growth from current levels,” Simon Yu, CEO of Cannabis Strategic Ventures, stated in the news release. “Current performance is being driven by multiple factors, including volume, capacity and pricing, all aligning with a strong macro environment in the California cannabis marketplace. For some perspective, our June quarter is on pace to eclipse our March quarter by well more than a factor of 10x on the top line.”

To view the full press release, visit http://cnw.fm/6uEFE

About Cannabis Strategic Ventures

Cannabis Strategic Ventures Inc. (OTC: NUGS) is one of the largest publicly traded marijuana cultivators in the United States. The Company is Los Angeles-based and incubates, develops and partners with category leaders within the cannabis and ancillary sectors. The Firm’s NUGS brand experience provides operational and financial strategic partnerships and a range of essential services to emerging and existing Cannabis consumer brands. For more information, visit www.CannabisStrategic.com.

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

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CannabisNewsBreaks – Sugarmade, Inc.’s (SGMD) BudCars Achieves Record May Sales, Continues to See 10% Week-Over-Week Growth

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today announced record growth data for BudCars sales during the month of May. According to the update, the company posted nearly 30% sequential monthly growth over April sales and continues to see week-over-week sales growth at 10%, which suggests that BudCars will surpass $10 million in annualized sales by the month of August at its Sacramento location. “The top-line growth data has been extremely strong, and we have no reason to expect that to change. But it’s important that our shareholders understand that this is not a delivery service model,” Sugarmade CEO Jimmy Chan stated in the news release. “We aren’t simply earning a fee to deliver someone else’s inventory, and barely breaking even in the process. We are building an inventory at wholesale pricing, marking it up significantly, and pulling in very strong margins on every unit we deliver for sale.”

To view the full press release, visit http://cnw.fm/Rnr9N

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

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CannabisNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Announces Financial Highlights, Corporate Milestones for Q4 and FY 2020

Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, on Wednesday released its audited consolidated financial statements for the fiscal year ended March 31, 2020 (“FY 2020”) and management’s discussion and analysis (“MD&A”) for the three and twelve months ended March 31, 2020. “The global economic uncertainty brought on by COVID-19 capped off a volatile and challenging year for the cannabis sector. Despite these challenges, I am pleased with what our team achieved last year. However, we were not immune to this volatility, and following a strategic and operational review of our business, we recently announced a number of changes aimed at strengthening our financial discipline and positioning Canopy Rivers for sustained success moving forward,” Narbé Alexandrian, president and CEO of Canopy Rivers, said in the news release. “Reflecting on the past year, there were several significant achievements that make me optimistic for fiscal year 2021. First, our portfolio companies reached new milestones, including the licensing of PharmHouse, the expansion of TerrAscend’s U.S. operations, and ZeaKal’s successful trials of its PhotoSeed(TM) technology. Second, our graduation to the TSX and the launch of our Strategic Advisory Board signaled our company’s continued maturation. Finally, we made four new investments, including two in ag-tech, which we believe is a critical component of the value chain that is poised to disrupt the cannabis sector.”

To view the full press release, visit http://cnw.fm/3CjLn

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.

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420 with CNW – Four Ways the Marijuana Industry Can Benefit from the HEROES Act

Experts say we may be facing up to two years of intermittent lockdowns before the coronavirus is finally eradicated, and the economy will take even longer to spring back to pre-pandemic levels. At the moment, most regions in the U.S. are still under lockdown orders, and while this has helped reduce infections, the effect it has had on the economy has been catastrophic.

The cannabis sector was one of the few industries that were deemed essential and allowed to continue operating amidst lockdown orders. However, due to federal prohibition, the industry has been operating at a stark disadvantage. The federal government released emergency relief funds to help small businesses weather the storm, but the state-legal marijuana industry has been denied access to these funds.

To make matters worse, these businesses have been locked out of most banking services. Banking institutions may be subject to federal retaliation if they transact with the state-legal industry, and this has forced marijuana businesses to transact on a cash-only basis. Not only does having lots of cash on hand put you at risk of theft, but it also puts employees, and customers at risk of infection.

The Health and Economic Recovery Omnibus Emergency Solutions (“HEROES”) Act, a $3 trillion stimulus package, would help the industry immensely. Although it doesn’t grant the industry access to federal emergency relief funds, it contains language from the industry-lauded Secure and Fair Enforcement (“SAFE”) Banking Act, which would give cannabis businesses and their ancillary business partners access to the banking sector.

If it is passed, the HEROES Act would:

Allow cannabis businesses to access much needed banking services like loans, credit lines and bank accounts. At the moment, the banking sector treats such businesses like pariahs and with the current health and economic crisis, this has put them at a severe disadvantage. The HEROES Act will allow the banking sector to transact with cannabis businesses without fear of federal retaliation.
Additionally, customers will now be able to use credit and debit cards as the Act will allow marijuana businesses to finally use credit card processing services. They will be subject to lower debit card fees as credit companies compete for the new market. It may also aid bottom lines as studies have shown that people are more likely to spend more when using credit cards compared to cash.
Consumers will also spend less on fees, specifically ATM fees, which can and will add up if ATM transactions are part of your cannabis purchases. Using debit or credit cards would be more economical in the long run. If firms adapt to a cashless system, they will spend less on security to keep the staff safe from petty theft, and these cost savings can be passed down to the consumers.
Finally, and most importantly, it will prevent the spread of the coronavirus. It is a known fact that the virus is still viable after extended stays on surfaces like cash and plastic. In fact, money was never hygienic to begin with, and therein lies the danger of cash-only transactions. Eliminating physical currency from the equation would limit the contact between staff and customers, thereby reducing their chances of contracting and spreading the virus.

The progress of this proposed law will no doubt be monitored closely by cannabis sector players like Round Meadow Holdings Corp. and Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496) to see how the lawmakers debate and vote on this bill.

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420 with CNW – Reasons for Some Marijuana MSOs Thriving While Others Struggle During This Pandemic

2020 will without a doubt go down in history as one of the most challenging years of the century. It started with the discovery of a novel coronavirus in Wuhan, China in late 2019, and snowballed into a global health and economic crisis that we will take years to recover from. The pandemic has led to an economic downturn of immense proportions, with the U.S. suffering Great Depression-era levels of unemployment.

The crisis has hit most businesses hard, especially those in the tourism and hospitality sector. The state legal cannabis industry was declared essential by most states, allowing them to remain open during the lockdown. However, it hasn’t been smooth sailing, and quite a number of multistate marijuana operators have been unloading assets, cutting overhead costs and scraping plans for expansion.

Other MSOs haven’t had it so bad, and they’ve been able to weather the crisis a lot better than their counterparts have. Why is that? For starters, preparedness is key, and most of the multistate marijuana operators that are doing well had a capital and cash-flow cushion of at least two years. Illinois-based Cresco Labs, for example, had a 70 month cushion while Florida-based Trulieve had a cash coverage of 44 months.

This gave these firms a parachute to use once lockdown orders were issued and the economy slowed to a crawl. On the other hand, MSOs that had less than a year of cash coverage had to quickly raise more money or they would have cash flow issues. Additionally, struggling MSOs seem to have weak competitive positions in markets, and this put them in a vulnerable position once the pandemic hit.

According to Mike Reagan, an equity analyst and managing member of Denver-based MJResearchCo, it’s important for a company to have a dominant or strong position in the markets rather than be a small player in many markets. “Ideally, you want to dominate a lot of markets, but that’s hard in cannabis because each market is different.”

Finally, MSOs that are thriving centered their expansion plans on realistic expectations based on ROI. Tons of cannabis companies spent 2017-2019 acquiring assets and expanding their capacity, and most of it was financed by investors who were not concerned with an immediate return on their investment. Instead of focusing on reasonable goals and working on investment payback, they burned through cash so they could be able to claim they were growing through “massive news announcements,” says Lee Dorkin, founder of Colorado-based Emprouen Advisors, a cannabis management and consulting firm.

“But that’s absolutely the wrong approach and why we have a trail of failed MSOs at our feet right now.”

Industry watchers assert that companies like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) are closely analyzing how different MSOs are faring in order to learn and implement vital lessons going forward.

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CannabisNewsBreaks – Cannabis Global, Inc. (MCTC) Discusses Strong Solution with Expected 50%+ Cost Advantage in Production of THC-V and Other Rare Cannabinoids

Cannabis Global (OTC: MCTC), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, today announced information on its Project Varin, a nearly complete research program implemented to develop novel production technologies for rare cannabinoids, including tetrahydrocannabivarin (“THC-V”), which is not scheduled at the federal level. According to the update, the program has produced meaningful technology breakthroughs resulting in several patent filings. The company has been able to leverage these technological developments to significantly reduce the cost of exotic cannabinoids on a per-serving basis resulting in a greater than 50% expected cost advantage. “We think we have rewritten the exotic cannabinoid cost equation via our Project Varin. The minor exotics represent a new cost challenge for the industry, and we believe we have developed a strong and defensible solution,” Arman Tabatabaei, CEO of Cannabis Global, stated in the news release. “Acquiring THC and CBD from plants within the Cannabaceae family is relatively easy as these cannabinoids are produced by nature in abundance. It is a very different issue relative to THC-V, CBN, and other exotics. With our patent pending technologies, we have been able to rewrite the cost equation for minor cannabinoids, while at the same time moving well beyond the purity possible from legacy technologies. While we are already at a 50% cost advantage to the competing technologies, most of which are still theoretical and not yet available on the market, we believe further travel down our cost curve is possible as we move into high volume manufacturing this month.”

To view the full press release, visit http://cnw.fm/wJI0t

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 is 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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