CannabisNewsBreaks – 2020 Benzinga Cannabis Capital Conference to Bring Together Industry Movers and Shakers

The Benzinga Cannabis Capital Conference, the premier cannabis gathering and networking event now in its sixth installment, is headed to Miami next month. Set to take place at the Fontainebleau Miami Beach Hotel from February 24-25, the event will draw cannabis entrepreneurs and investors from across North America to learn about and discuss the growing industry. Benzinga today announced an expansive list of high-profile speakers scheduled to shed light on the hottest topics, trends and insights at the Miami event. “This conference is about bringing together the movers and shakers behind the industry. Hundreds of millions of dollars have been raised at previous bzcannabis.com events,” Benzinga CEO and Founder Jason Raznick said in the news release.

To view the full press release, visit http://cnw.fm/b7rW5

About Benzinga

Benzinga is a leading financial media company dedicated to making information easier to consume. Benzinga’s news desk is constantly breaking stories and moving billions of dollars of market capitalization through its real-time news tool, Benzinga Pro. Benzinga’s original content is syndicated to 70 partner websites including Yahoo! Finance MSN, CNNMoney, Fox Business and MarketWatch. To find out more or register to attend the Benzinga Cannabis Capital Conference, visit the event’s official website at https://benzingacannabisconference.com/miami.

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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CannabisNewsBreaks – USA CBD Expo Headed to Vegas to Showcase Growing Wellness Trend

Following its successful inaugural event last summer in Miami, USA CBD Expo is heading to Las Vegas to showcase the growing wellness trend rising in popularity across the globe. The upcoming event is slated to take place at the Las Vegas Convention Center from February 13-15 and set to draw industry insiders and general enthusiasts to share expertise and learn about the benefits of CBD, as well as showcase, sample and discover the industry’s latest products and innovations. “After seeing the excitement and success behind our Miami event – where we hosted more than 13,000 attendees – we feel energized, ready to deliver and exceed expectations for Las Vegas,” Jason Monti, USA CBD Expo partner, said in the news release. “Nevada is at the epicenter of the booming legal cannabis market, and CBD has an enormous role in that. The opportunities are endless for both consumers and business owners, and we’re excited about creating a platform that allows so many components of our industry to come together.”

To view the full press release, visit http://cnw.fm/y3FoS

About the USA CBD Expo

USA CBD Expo aims to bring together hundreds of leading CBD brands and products from vape manufacturers, holistic and health food producers, pet care brands, and more. Held at the Las Vegas Convention Center, the Expo brings together cutting-edge product developers, top-tier buyers, and the industry’s greatest minds for three days of invaluable networking and exhibition. The event is organized by ZJ Events LLC, which has held the successful Vape Conventions series of trade shows across the globe. To purchase tickets or to learn more about USA CBD Expo in Las Vegas, go to www.USACBDExpo.com or email Media@USACBDExpo.com.

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CannabisNewsBreaks – Agrify Completes Strategic Acquisition of TriGrow, Accelerates Plans to Build Full-Service Gateway to High-Growth Cannabis Markets

Agrify, a developer of premium indoor grow solutions, today announced completion of its acquisition of all outstanding shares of TriGrow Systems Inc. and, indirectly, 75% of its subsidiary TriGrow Brands, LLC. According to the update, TriGrow, backed by leading cannabis industry venture funds including Poseidon Asset Management and Arcadian Funds, is currently the exclusive distributor of Agrify’s fully automated, micro-climate, precision-controlled vertical farming unit (“VFU”) solution to indoor cannabis cultivators. “Agrify’s highly strategic acquisition of TriGrow sets the stage for an exciting 2020,” Agrify Founder and CEO Raymond Nobu Chang said in the news release. “With TriGrow, we accelerate our plans to build a powerful, single-source gateway to the high-growth cannabis markets with fully-integrated indoor farming solutions and services.”

To view the full press release, visit http://cnw.fm/I3Bpb

About Agrify

Agrify is a rapidly growing developer of premium indoor grow solutions for the cannabis and hemp marketplace. The company’s comprehensive grow solutions have been developed with one mission in mind: to assist its valued customers in producing the highest quality product possible with consistency and superior yields. Agrify is a non-plant-touching company; to learn more, visit www.Agrify.com.

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CannabisNewsBreaks – VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) to Commence Trading on the Toronto Stock Exchange; Provides Cannabis 2.0 Update

VIVO Cannabis (TSX.V: VIVO) (OTCQX: VVCIF), an Ontario-based cannabis company recognized for its premium products and services, today announced that its common shares are set to start trading on the Toronto Stock Exchange (“TSX”) under the symbol ‘VIVO’ at market open on January 24, 2020. The company’s common shares will be voluntarily delisted from the TSX Venture Exchange in connection with the TSX listing. “The strength of the Toronto Stock Exchange is world-class, and this event represents a tremendous milestone for VIVO,” VIVO Cannabis CEO Barry Fishman stated in the news release. “We believe the TSX listing will increase VIVO’s exposure to a wider audience, increase trading liquidity and expand access to a large new pool of institutional investors.”

In addition, the company provided an update regarding its cannabis 2.0 products. Per the update, VIVO has successfully shipped cannabis 2.0 products from its Canna Farms facility to the provinces of Saskatchewan and Manitoba, and anticipates shipping purchase orders to Alberta, Ontario and British Columbia very soon. Before the end of Q1 2020, VIVO expects to make initial shipments of its Fireside(TM) chocolate products to British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and its Fireside(TM) concentrates and vape products from its Vanluven facility to Alberta, Ontario, British Columbia and New Brunswick. “We expect that by the end of Q1 2020, our cannabis 2.0 products will be available for sale in seven provinces, which is a significant achievement considering the recent opening of the market,” VIVO Cannabis CEO Barry Fishman stated in the news release. “We are proud of our suite of 2.0 products and look forward to our customers having the opportunity to experience them for themselves.”

To view the full press release visit http://cnw.fm/hL1nb

About VIVO Cannabis(TM)

VIVO, based in Napanee, Ontario, is recognized for trusted, high-quality products and services. It holds production and sales licenses from Health Canada and operates world-class indoor cultivation facilities with proprietary plant-growing technology. VIVO has a collection of premium brands targeting unique customer segments, including Beacon Medical(TM), FIRESIDE(TM), Canna Farms(TM) and Lumina(TM). In August 2018, VIVO acquired Canna Farms, a premium cannabis company based in Hope, British Columbia. Canna Farms was B.C.’s first Licensed Producer and has several years of craft cultivation experience and expertise, as well as a significant patient base and positive cash flow. The Company is significantly expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany and Australia. VIVO also operates Harvest Medicine, a patient-centric and highly scalable network of specialty medical cannabis clinics as well as a free telemedicine service. VIVO has a healthy balance sheet and is well-positioned to accelerate its growth in Canada and internationally. For more information, visit the company’s website at www.VivoCannabis.com.

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

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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 – Additional Taxes Could Make Illinois Recreational Weed a Lot More Expensive

Marijuana customers in Illinois are in for a price shock come July 1 this year as new taxes take effect. Currently, in Illinois, marijuana sales are being subjected to state and local taxes, plus an additional state marijuana excise tax, which has increased the overall tax rate from 20.25% to 35.25% in the municipalities and counties. This also depends on the potency of marijuana being sold.

The cities and counties in the state are yet to start imposing local weed taxes, which is 3 percent each, and this could drive up the overall tax rate to 41.25%. Of the 11 states where adult-use marijuana is legal, Washington is the only state whose tax rate is higher at 47%.

During the first day of recreational marijuana sales in Illinois, some marijuana customers posted their receipts on social media, which attracted a lot of attention. But, as far as sales are concerned, tax rates didn’t seem to deter the customers.

The supply of recreational marijuana is low and it cannot meet the existing demand. And, it is predicted that the recreational marijuana shortage may be experienced even in 2021 because additional demand for marijuana will come in through online shoppers in the coming months.

The managing director for BDS Analytics, Tom Adams, said that it is exciting going into a marijuana shop for the first time, but the feeling dies off real quick when they start running the numbers in your head, and the demand reduces. BDS Analytics is a research firm that tracks the marijuana sector.

The CEO of MedMen, Adam Bierman, said that the customer’s shopping experience is ruined by the high taxes. MedMen is based in Los Angeles and operates dispensaries located in Evanson and Oak Park.

Tom Adams further said the higher taxes would force people to buy weed from the black market where there are no taxes; thus, the illicit market will continue to grow.

According to BDS Analytics estimates, in Washington, the black markets take up 51% of the total marijuana sales, while in Colorado, where taxes are 25%, the black market accounts for 34%.

Michigan launched its recreational marijuana sales on December 1 last year, and its overall tax is at 16%.

Tax is one of the factors that determine the growth of the legal marijuana market, said Adams.

Because the marijuana shortage in Illinois will not be solved anytime soon, the consumers within the state may not see the effect of the imminent tax increase for a while.

A few months ago, the legislators warned that the tax rates might influence marijuana sales, but since every level of government within the state is struggling financially, they were more focused on the income that would come with legalization.

This year, the state expects to collect $57 million in tax revenue from marijuana sales, which would increase to $141 million for the financial year beginning on July 1. The state of Illinois estimates that within four years, it will have hit $376 in tax revenue.

Industry experts say that it wouldn’t be surprising if companies like Dama Financial and ChineseInvestors.com (OTCQB: CIIX) associated with the cannabis industry recommend a revisiting of the Illinois marijuana tax regime in order to avoid stifling the nascent legal industry.

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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 – Arkansas Piles Pressure on Licensed Medical Marijuana Dispensaries to Open

On the morning of January 19, local media outlets published several stories updating the residents of Arkansas on medical marijuana, as the opening of dispensaries continues at a slow pace. Half of the state’s licensed dispensaries are not yet operational and the state is moving to compel them to open or risk losing their licenses.

The Medical Marijuana Commission in Arkansas is planning to meet with all the dispensary owners and marijuana growing companies to discuss and determine whether their licenses should be extended for another year. There are 32 dispensary operators and five cannabis growing companies.

It is one year since the first licenses were issued, and 16 dispensaries are yet to open. The companies that have not opened or made any progress may lose their licenses, the commissioners hinted.

Although voters legalized medical marijuana through the ballot back in 2016, the state has made very little progress. The licenses for medical marijuana dispensaries were issued in 2019, and the first dispensary was opened in May the same year. So far, 16 dispensaries are operational, and they have so far sold 5,000 pounds of marijuana for not less than $33 million. Arkansas residents with medical marijuana cards are about 35,000.

Many operational dispensaries are looking to start growing their own marijuana. The spokesman for the Arkansas Department of Finance and Administration, Scott Hardin, said that the dispensaries are also licensed to cultivate marijuana, but they had opted to start with the shop outlet so that they could become operational faster.

According to some business representatives, many businesses are planning to grow the amount of marijuana permitted by the state, which is 50 mature plants. The dispensaries include Acanza in Fayetteville, The ReLeaf Center in Bentonville, and The Source in Bentonville. Currently, the three businesses are buying cannabis from the three cultivation sites in the state. According to Arkansas law, dispensaries within the state may only purchase marijuana for their shops from the cultivation sites within Arkansas.

Hardin said that when the four dispensaries located in Northwest applied for their licenses, they were approved to add a cultivation location. But because the state must first inspect the cultivation location, the four dispensaries could not begin their cultivation process.

The state of Arkansas is working to establish rules and regulations for dispensaries with cultivation locations so that they can also be allowed to process their marijuana once its harvested.

Analysts believe that the entire cannabis industry, including Lexaria Biosciences Corp. (CSE: LXX) (OTCQX: LXRP), would be glad to see all licensed dispensaries open for business so that the people of Arkansas can have many options to choose from.

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CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Places Hold on Reverse Split, Plans Entry into Regulated and Licensed Portion of Cannabis Marketplace

Sugarmade (OTCQB: SGMD) today announced that it has placed a hold on plans to complete a reverse split of its common shares. Per the update, pending a vote by its board of directors, management believes temporarily holding or canceling the reverse split may be the best future course of action. In addition, Sugarmade announced its planned entry into the regulated and licensed portion of the cannabis marketplace, with an emphasis on the California distribution and retail sectors. “For at least the time being, we do not see a reason to move forward with the reverse stock split. However, we reserve the right, should circumstances warrant, to reactivate the reverse,” Sugarmade CEO Jimmy Chan said in the news release. “We are in the process of modifying our business strategy to better align with where the cannabis marketplace is headed and thus our cancellation of the previously proposed transaction. We see significantly larger opportunities in the California cannabis distribution arena and have entered into advanced talks to make a strategic move into this area.”

To view the full press release, visit http://cnw.fm/sn0Ez

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. 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

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CannabisNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) to Provide Patented DehydraTECH(TM) to Cannadips’ Cannabis Products in California and Across the US

Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP), a global innovator in drug delivery platforms, today announced that it has reached a new definitive agreement to provide its patented DehydraTECH(TM) technology to Cannadips’ cannabis products, both in its current California market and across the United States. According to the update, Lexaria’s DehydraTECH fast-acting, high-absorption technology is perfectly suited to improve consumer satisfaction and the dipping experience. Terpene-rich multi spectrum oils are base ingredients of Cannadips THC, and DehydraTECH is able to reduce throat irritation normally associated with some terpenes. Inferior products utilize less efficacious cannabis isolate without terpenes that lack the entourage effect derived from multi-spectrum oils in an attempt to get around this problem. “Lexaria is building a stronger relationship with the Cannadips brand and applying DehydraTECH to Cannadips cannabis represents our latest advance,” Lexaria Bioscience CEO Chris Bunka stated in the news release. “Our DehydraTECH technology empowers a scalable supply chain across state lines for our cannabis brand licensees. We are excited that Cannadips is interested in activating the Lexaria technology in additional key state markets that are either recreational or medical cannabis states, while preserving the brand rights as states come online through regulation.”

To view the full press release, visit http://cnw.fm/4qN9T

About Lexaria Bioscience Corp.

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

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CannabisNewsBreaks – Grapefruit Boulevard Investments, Inc. (IGNG) Files Amendment No. 1 to Registration Statement

Grapefruit Boulevard Investments (“GBI”), a licensed and fully compliant California based cannabis distribution and manufacturing company and a wholly owned subsidiary of Imaging3, Inc. (OTCQB: IGNG) (collectively “Grapefruit”), this morning announced that it has filed Amendment No. 1 to its Registration Statement on Form S-1 that was originally filed on July 28, 2019 regarding conversions of convertible notes issued to the company’s institutional investor Auctus Fund, LLC. “We are very pleased to file the Amendment which puts us back on track to complete the Auctus transaction. Pursuant to the terms of our Agreements with Auctus, immediately upon effectiveness of the Registration Statement, which we believe should occur in late February of 2020 we will receive a new Convertible Note Tranche of $750,000.00 from Auctus and 90 days later a final Convertible Note Tranche of $1,000,000.00. These funds are key to our revenue growth in 2020. In addition, as our common stock price increases in the future, we will be able to call warrants to bring in additional working capital. We are currently focused on ramping up revenues to justify an increased stock price which will afford us the opportunity to call the Warrants. We are also in the process of evaluating other capital raising possibilities. We feel we have regained our momentum which was temporarily slowed by the delay in the Grapefruit Boulevard Investment audit and look forward to 2020 and the myriad possibilities the future holds for Grapefruit,” Grapefruit CEO Bradley J. Yourist stated in the news release.

To view the full press release, visit http://cnw.fm/DEBv5

About Grapefruit Boulevard Investments Inc.

Grapefruit is a wholly-owned subsidiary of Imaging3, Inc. Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s extraction laboratory and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis company. For more information, visit the company’s website at www.Grapefruitblvd.com.

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420 with CNW – Missouri Judge Orders Delay in Issuing Medical Marijuana Dispensary License

On Friday evening, the Missouri Department of Health and Senior Services was ordered by a court in Missouri to delay the approval or rejection of one applicant who had applied for a license to run a medical marijuana dispensary.

According to the statement previously issued by the Health Department, the permits would enable businesses located in secure areas to sell medical cannabis to patients. The Department expected to issue a minimum of 192 licenses within the state by January 24.

Judge Daniel Green, with the Cole County Circuit Court, ordered the delay of approval or rejection of one applicant for a license in Independence until a week (Jan.27) after the initial decision date.

It is not yet clear how the delay will affect the whole licensing process. When asked about the court order on Saturday morning, a DHSS spokeswoman said via a text message that the case is not about DHSS, but about the Independence ordinance. She further said that she does believe that the process would be delayed but asked them to refer their questions to the Office of the Attorney General in Missouri.

No response was issued by the spokesman for the attorney general when contacted for a comment.

At the beginning of last week, the USA TODAY Network reported that in 2019, Independence approved cannabis zoning rules were stricter than the barriers in churches, daycares, and schools that are written in the state-level medical cannabis constitutional amendment.

A former owner of a marijuana clinic that specialized in patients seeking state-approved medical marijuana cards Emily Branch said that supporters of marijuana regard Independence zoning rules as a violation of the Missouri constitution.

According to public records, the plaintiff, in this suit is the HCKC LLC, which is operating as Healing Center of Kansas City.

One of the officials of the Healing Center, Jay Richards, said that the company would not issue any statement at the time, but maybe after the state awards them the dispensary permit.

According to the medical marijuana dispensary applicant record provided by the Missouri Department of Health, there were other companies tied to Healing Center that applied for at least ten licenses.

Healing Center retail outlets would be spread across the state to St. Louis, Kansas City areas, Rolla, and Columbia.

Lying at the center of the lawsuit is the dispensary to be opened in the Kansas City Area, which is the hometown of President Harry Truman.

The suit’s defendants include the City of Independence, Department of Health and Senior Services, and its director Randal Williams, and they are using the same lawyer for their defense.

Another lawsuit was filed against the DHSS by the Sarcoxie Nurseries Tree Farm, who were denied a commercial cultivation license. At the beginning of January, the owner of Medigro LLC, Brian Atchley, said that he is tied to the two lawsuits. And like many other permit applicants, Atchley is questioning the DHSS licensing protocols.

Industry experts say such lawsuits can potentially derail the roll-out of the marijuana program, and they are certain that industry actors like No Borders Inc. (OTC: NBDR) wouldn’t want such a barrier to persist for long.

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