Category: CannabisNewsWire Release

CannabisNewsBreaks – CannabisNewsWire to Again Serve as Official NewsWire for Full Slate of 2020 CWCBExpo Events

CannabisNewsWire (“CNW”), a multifaceted financial news and publishing company part of the InvestorBrandNetwork (“IBN”), today announced that it will serve as the Official NewsWire and Sapphire Sponsor for the full slate of 2020 Cannabis World Congress & Business Expo (“CWCBExpo”) events. In addition, IBN will participate as an Official Media Sponsor for the CWCBExpo gatherings. “We are honored to once again be selected as the official newswire for CWCBExpo,” CNW Communications Director Jonathan Keim said in the news release. “The Cannabis World Congress & Business Expo team has built a strong reputation for offering premier events in the cannabis space, and we are thrilled to be able to support and strengthen those efforts via multiple distribution channels, including CannabisNewsWatch, CBDWire and other cannabis-related brands of IBN.”

To view the full article, visit http://cnw.fm/0eqXI

About CWCBExpo Events

CWCBExpo events are must-attend gatherings designed for experts, professionals, entrepreneurs and enthusiasts in the cannabis space to legalize, educate, strengthen, expand and help legitimize the cannabis industry. Additional details about the upcoming events, including ticket information, can be found at the following link: www.CWCBExpo.com.

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Announces 300% Growth in Budcar Delivery Volume, Eyes $15M 2020 Revenue Target

Sugarmade (OTCQB: SGMD) today announced a dramatic 300% sequential monthly jump in delivery volume in BudCars Cannabis Delivery Service in February. According to the update, the rise in volume follows the company’s negotiated agreement toward a controlling stake in Budcars and its investment in expanding the leading delivery service’s operations and reach in Northern California. Provided recent data on growth in daily orders is reliable and indicative of the impact of the company’s recent measures over coming months, management projects a Budcars top-line run-rate capable of surpassing $15 million in sales in 2020. “Some of our shareholders have suggested that our vision for a massively expanded and vertically integrated Budcars might be explained to the world as the ‘Uber Eats of the cannabis market.’ But we believe that’s actually a dramatic underestimation of where Budcars is headed,” Sugarmade CEO Jimmy Chan said in the news release. “This is far more promising from a bottom-line perspective, given that we aren’t simply delivering someone else’s product. The retailer gets the juicy 20 percent net margin in this business. We are positioning ourselves as a ‘Cannabis concierge service’ focusing on a truly unique cannabis experience.”

To view the full press release, visit http://cnw.fm/EnMC8

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, visit the company’s website at www.Sugarmade.com.

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

About CannabisNewsWire

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

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

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

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420 with CNW – Florida Senate Moves to Limit Medical Marijuana THC Potency

On Friday afternoon, the Florida Senate filed a proposal whose aim is to put a limit on the amount of THC available in medical marijuana products. The potency cap would be at 10%.

THC is the psychoactive compound found in marijuana. It induces the high effect. THC can be found in all forms of marijuana ranging from whole-flower, tinctures, oils, vaporizers, and edibles.

The amendment was filed by Senator Gayle Harrell (R-Stuart) and it was part of a larger health care package. The bill’s last stop is the Senate Rules Committee, and it will take up the amendment early this week.

The current law in Florida places a cap on the amount of THC in marijuana edibles only. The edibles should contain no more than 10mg of THC per serving and an overall of 200mg. According to industry experts, the current doses in edibles are higher than what most patients would consume in a normal situation.

The amendments cap on THC at 10% applies to people who are under 21years, excluding those who are terminally ill and those whose doctors recommend for medicine with a high THC concentration.

Harrell said that she is worried that young people have access to marijuana products with high THC concentration, and it could negatively affect brain development.

Limiting the amount of THC in medical marijuana was first introduced during the 2019 legislative sessions, where a House Bill that would have put a 10% cap on smokable medical marijuana or flower was proposed. The legislation would have barred doctors from certifying patients below the age of 18 for full-strength marijuana products.

The bill, which was introduced by Rep. Ray Rodrigues (R-Estero) quoted a study which indicated that marijuana containing high levels of THC was associated with early onset of psychosis and the development of schizophrenia in marijuana consumers.

Rodrigues cited a Swedish study, which was based on patients who self-reported their history of marijuana consumption and had also experienced at least one psychotic episode in their life.

The bill never advanced in the House despite the support from the Speaker Rep. Jose Oliva (R-Miami Lakes).

Last week, Senator Jeff Brandes held a press conference where he urged the House not to support a THC cap. He noted that the Senate would put a hold on the issue. Brandes expressed his disappointment on Friday, when he said that the Senate should focus on solving real problems.

Speaking to Herald Times, Brandes said that physicians understand the legislation better as well as the needs of their patients; therefore, they should be allowed to weigh in on the benefits and risks for their patients.

Harrell and Brandes have different views on the issue of the THC cap. The Senate President Bill Galvano indicated that he was open to considering the THC cap.

Those who are opposed to the amendment said that if it is approved, it will be a burden on medical marijuana prices because the prices for the products will be hiked, and this would eventually force patients to buy from the illicit market to self-medicate with higher THC marijuana products.

Colorado had raised the THC limit to 16% in 2016 via a referendum but later withdrew the proposal.

It would be interesting to hear how sector players like HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) would weigh in on this debate regarding THC caps on medical marijuana products in light of the black market which still commands a huge share of total marijuana sales.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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

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420 with CNW – Denver Study Finds Fewer Teens Opting to Consume Marijuana

Results from a new survey conducted in the City and County of Denver show that more teens are choosing not to consume marijuana. Denver believes that the improved results in teen consumption are because of the marijuana youth prevention campaign, which is based on facts.

The campaign, which is referred to as the High Costs Marijuana Youth Education and prevention, was formed to educate the youth within their state on the effects of underage consumption on their passions, pursuits, and future.

Instead of using scare tactics, the campaign is focusing on providing the youths with facts peer-to-peer so that they can engage in accurate and empowering peer-to-peer conversations. However, in the past, campaigns did not focus on education as their primary goal of drug prevention.

In the 1980s and 90s, drug prevention campaigns used scare tactics and fear. Browsing the internet for drug-related commercials that date several decades back, you will find an ad where an egg is cooking on a pan, and the narrator likens the sizzling egg to your brain on drugs.

In other commercials, the slogan ‘Just Say No’ was used to advise students to ward off peer pressure. Campaigns that targeted drug-using parents used lines that said ‘parents who use drugs, have kids who use drugs.’

The current marijuana youth prevention campaign, which was started in 2017 in Denver, is working because it has adopted a different approach to educating rather than instilling fear.

According to the Director of Communications at the Department of Excise and Licenses for the City and County of Denver Eric Escudero, the High Costs campaign has a goal of providing facts to children to prevent kids from underage consumption of marijuana.

Escudero also said that they give the kids information on issues that they care about, advice such as how marijuana consumption can affect their scholarship, getting a driver’s license, as well as their health and laws. He also noted that some kids make the decision not to use marijuana on their own.

The survey, which was conducted by Insights Lab, took place from mid-November to mid-December. The number of teens who participated in the study was 537 between the ages of 13 through 18.

  • The survey found that 56% of the respondents were familiar with the campaign.
  • Eighty-one percent of the participants between the ages of 13 and 17 were not currently using cannabis, which is higher than in 2018, which consisted of 80%.
  • The majority of the teens were familiar with the campaign, and they agreed that its message was clear, educational, and 75% percent said it was also likable.

Although the number of teens who participated in the survey was small, the City and County of Denver are hoping that it represents the whole of Denver youth population.

Experts agree that cannabis industry actors like MCTC Holdings Inc. (OTC: MCTC) are happy with the changed way in which authorities are trying to reach the youth. Accurate unbiased information empowers someone to make the right decisions rather than scaremongering in this day and age when information is readily available online.

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

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CannabisNewsBreaks – Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) Inks Sales Agency Agreement with humble+fume

Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) recently signed a landmark sales agency agreement with one of North America’s leading distributors of cannabis accessories — humble+fume (http://cnw.fm/nt7Jw). An article discussing the company reads, “SPRWF’s new agreement calls for humble+fume to act as the exclusive sales agent for Supreme Cannabis Company’s recreational products across Canada, achieving coast-to-coast coverage while, at the same time, creating an appealing sales proposition for retailers. The partnership establishes the only sales force in Canada able to offer a full cannabis solution that includes the sale of both cannabis and cannabis accessories, which are known as high-margin items for retailers. . . . ‘humble+fume is excited to have been chosen by Supreme Cannabis to be their coast-to-coast sales solution partner,’ humble+fume CEO Bob Ritchot stated in a news release. ‘With the rapid expansion of retail outlets in Canada, this well-timed, sales-agent agreement enables us to accelerate our retailer market coverage and build on our existing distribution to 85% of cannabis retailers across Canada.’”

To view the full article, visit http://cnw.fm/O8x0F

About Supreme Cannabis Company Inc.

Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is a global, diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the company has emerged as one of the world’s fastest-growing, premium, plant-driven lifestyle companies. Supreme Cannabis’ portfolio of brands caters to diverse consumer experiences, with brands and products that address recreational, wellness, medicinal and new consumer preferences. The company’s brand portfolio includes 7ACRES, Blissco, Truverra, Sugarleaf by 7AC and Khalifa Kush Enterprises Canada. Supreme Cannabis’ brands are backed by a focused suite of world-class operating assets that serve key functions in the value chain, including scaled cultivation, value-add processing, centralized manufacturing and product testing, and R&D. For more information, visit the company’s website at www.Supreme.ca.

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

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 – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Builds on Strong Cannabis Brand Foundation to Expand into New Markets

Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis and hemp-branded products company in California, has built a brand in the largest competitive market, setting itself up for expansion into new markets. An article discussing the company reads, “From day one, Plus Products’ strategy for growth was to build a brand and product in the largest competitive market and achieve success before moving to new markets. After six quarters with a product sitting at California’s top spot, PLUS has proven to the consumer its commitment to superior products. PLUS Uplift sour watermelon gummy was the best-selling cannabis product in California, and PLUS was the largest infused-gummy brand over that time period. However, the company has eyes to further prove itself to a larger market. Looking forward, the company has set its sights on becoming the world’s strongest cannabis brand portfolio (http://cnw.fm/4OMxT). . . . With that goal in mind and with its products available in over 300 licensed retailers across California, PLUS made its move. In Q3 2019, the company unveiled a website featuring a new product line of 100% hemp, CBD-infused gummies that are available online in more than 40 states, and in Q4 2019, PLUS launched its best-selling product line in Nevada.”

To view the full article, visit http://cnw.fm/TMt8n

About Plus Products Inc.

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

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

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 – Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) Reports Revenues of $5.5M for Quarter Ended December 31, 2019

Wildflower Brands (CSE: SUN) (OTCQB: WLDFF) this morning reported financial results for the second quarter ended December 31, 2019, including $5,514,502 in revenues for the quarter, representing a substantial increase from $1,410,135 during the same period of the previous year. Per the update, revenues were projected to be down as a result of the sudden drop in vape sales and the close of the company’s Robson store to move to its newly renovated, licensed, 2,800-square-foot facility at Robson and Granville.

To view the full press release, visit http://cnw.fm/USq4l

About Wildflower Brands

Wildflower Brands is a Vancouver-based pioneer in the cannabis industry that develops, designs and operates brands throughout North America. The company’s brands work together to make Wildflower a leader in cannabis innovation throughout the globe. The company operates British Columbia’s largest retail cannabis chain under the brand City Cannabis Co. For more information, visit the company’s website at www.WildflowerBrands.co.

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)

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CannabisNewsBreaks – Cannabis Strategic Ventures, Inc. (NUGS) Announces 91% Sequential Growth to $1.35 Million and Significant Financial Improvements

Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. and California cannabis marketplaces, today announced robust growth and significant financial improvements for the most recently completed financial period ending Dec. 31, 2019. Cannabis Strategic Ventures reported revenue of $1.35 million for the quarter ending Dec. 31, representing approximately 91% sequential growth compared to the previous quarter. According to the update, gross margins grew meaningfully while operating efficiencies significantly improved. “We’re excited to see consistent revenue growth,” Simon Yu, CEO of the Company, said in the news release.  “In this highly regulated environment, it takes time to scale production.  With a considerable portion of the permitting and construction behind us, we are poised for continued growth in the California cannabis marketplace.”

To view the full press release, visit http://cnw.fm/w4OV7

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 that 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

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)

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420 with CNW – What Pot Companies Can Learn from Federal Hemp Legalization

The National legalization of hemp under the 2018 Farm Bill provides marijuana business with essential lessons to use when preparing for a highly analyzed, commodity-driven industry. The lessons would especially be valuable to small companies that are well managed.

The co-founder and president of the American Trade Association for Marijuana and Hemp, Michael Bronstein, said that although hemp and marijuana are different industries, marijuana can learn some few things from the national rollout of hemp.

Experts advise companies to anticipate changes in the marijuana industry, even if it takes a few more years before marijuana can be legalized at the federal level. The companies should become more professional in their operations by adopting standards from other industries that are highly regulated.

Bronstein said that companies, whether they are specializing in the production of CBD, THC, or both, should adopt best practices and participate responsibly in the industry.

The co-founder of Canna Advisors Diane Czarkowski said that companies should expect constant changes as well as more regulations in the industry. Canna Advisors is based in Colorado and offers several consulting services to marijuana and hemp companies.

Discussed below are some of the lessons marijuana companies should learn from the national legalization of hemp:

  1. It will take a while to develop federal rules

After the enactment of federal reforms on marijuana law, there is a possibility that cannabis policy development will drag. The chief of the National Hemp Association in Washington DC, Geoff Whaling, said that it is going to take years before hemp policies are implemented.

The USDA took 11 months to finalize interim final rules for hemp, and it continues working on them. And more months had to elapse before financial institutions could accept to serve the hemp industry.

  1. Expect federal and state oversight

After the federal legalization of marijuana, there would be a lot of scrutiny from several federal agencies such as USDA, FDA, and DEA. Therefore, marijuana companies should be prepared on how to deal with the regulations, how to implement them, and their impact on their businesses.

Bronstein said that his trade group is collaborating with state regulators in the development of standard testing, devices and appliances, transport, quality management, security, and track and trace systems. These will come in handy after the federal legalization of marijuana.

Companies should also anticipate inter-state marijuana businesses.

  1. Prepare for green rush 2.0

In the U.S., the pot sector has already experienced a ‘green rush,’ and another rush might happen after cannabis is legalized federally.

The executive director of the U.S. Hemp Growers Association, Caren Wilcox, said that in January 2019, the hemp industry experienced a rush where every farmer wanted to plant hemp. If this happens in the marijuana industry, only farmers with strong skills and are savvy in business would survive and thrive.

  1. Prices to fall as marijuana becomes a commodity

According to a senior attorney at McAllister Garfield, David Wunderlich, after commoditization of marijuana, cannabis companies should expect a drop in the price of retail and wholesale pot. The law firm specializes in hemp and marijuana law.

Wunderlich noted that since hemp was legalized, the price per kg has dropped to $1,000-$1,500 from $6,000-$7,000.

Industry experts have predicted that marijuana will become more of a commodity after it is federally legalized.

Wunderlich further said that marijuana companies should include several assumptions in their models and not assume that after legalization, the prices will remain constant and overinvest.

He also noted that a drop in prices affects the supply chain, which may result in a breach of contract, and delays in delivery.

According to experts, these are serious concerns that cannabis companies like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) may be thinking about since only the companies that can quickly adapt to the evolving landscape will survive the initial surge of players once pot is legalized federally in the U.S.

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

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420 with CNW – Vermont House Passes Marijuana Legalization Bill

On Thursday, the House of Representatives in Vermont approved a bill legalizing retail sales of marijuana. However, the Governor, Phil Scott (R), said that he is not happy with one of the key components of the legislation.

On Wednesday, the measure garnered a strong initial vote in the House, but for the bill to formally clear the chamber, an additional vote was required, and the Members of the chamber gave a third reading approval to the legislation through a voice vote.

The approval of the measure in the Chamber was preceded by the action of the following committees; the House Government Operations, Ways and Means, and Appropriations committees where they amended and cleared the bill in the past few weeks.

In 2018, Vermont legalized the cultivation and possession of marijuana for personal use; however, the state has no legal means of purchasing/selling weed. The current legislation would resolve the purchasing challenge by establishing a commercial marijuana market. Through the bill, the state would also create several business permits and set tax rates to be imposed on legal marijuana sales.

In 2019, during the first half of the two-year legislative session, the Senate approved S. 54 in a vote of 23 to 5, and now the House and the Senate are expected to appoint a bicameral conference committee to resolve the differences between the two versions of the legislation.

Before the House made the final vote on Thursday, it took up the following amendments:

  • In a voice vote, the lawmakers adopted a proposal prohibiting the advertisement of marijuana businesses but excluded labels on products, or educational and editorial materials.
  • They also approved a proposal clarifying marijuana product tests would be paid for by the Department of Public Safety using the Business licensing fees instead of funds from its regulatory budget, in a voice vote.

In a vote of 48-93, the chamber rejected an amendment to expand public disclosure requirements for marijuana business applicants and their investors.

In a voice vote of 27-117, the chamber also rejected an amendment stating that law enforcement should administer saliva and breathalyzer tests in private to individuals suspected of driving under the influence. As per the bill, the samples would not be taken at the roadside, would not be used as evidence in court proceedings, and could not be used as a probable cause for arrest.

Vermont’s Governor has been pushing for law enforcement to be allowed to conduct such tests without a hassle. Scott said that impaired driving is one of the main reasons why he is opposed to commercial legalization of marijuana.

There is uncertainty on the governor’s action once the bill gets to his desk. After the House voted on Thursday, the governor said that he is not happy about the stipulation that the police must first obtain a warrant before conducting the saliva test.

Scott said that marijuana testing should be treated the same as alcohol because police officers do not need to obtain a warrant to administer alcohol impairment testing.

Top lawmakers in Vermont and administration officials said that the governor is involved in discussions about the latest marijuana reform as he is open to using tax proceeds from pot to fund an after-school program he is advocating for. On Wednesday, the chamber approved an amendment to provide funding for such initiatives.

A poll conducted by the Marijuana Policy Project found that out of four residents of Vermont, three were in favor of allowing adults to purchase cannabis.

It remains to be seen what marijuana companies like Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) suggest as the best way to harmonize the position of the lawmakers and the governor so that the people of Vermont can have a chance to buy the marijuana products they may need.

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