420 with CNW – Oregon Report Shows Recreational Weed Sales Are Highest Along Idaho Border

The Oregon Office of Economic Analysis released a report which showed that marijuana sales are most substantial along the Oregon border with Idaho. It is noteworthy that recreational marijuana is illegal in the state of Idaho, so residents who wish to consume it have to buy it from Oregon.

According to the report which was issued on Friday, adult marijuana sales along the border of Oregon and Idaho are 420% the statewide average, wrote Josh Lehner of the Oregon Office of Economic Analysis. It is ironical that the percentage is 420 since that also happens to be the colloquial term for weed!

Along the Borders of Idaho and Washington, Lehner also found that marijuana sales were high. Recreational marijuana is legal in Washington.

Lehner further wrote that marijuana sales along the cities neighboring Idaho were stronger than he had anticipated. Recreational marijuana is illegal in the state of Idaho; however, after using a tax model to account for incomes, number of retailers, and tax rates, they found that there was a vast border effect.

A border effect occurs when two neighboring states have different rules, which prompt the residents of one jurisdiction to travel to the other in order to experience and take advantage of the different regulations in the other state. For instance, residents of Idaho traveling to Oregon to consume recreational marijuana. Another example is where the residents of Southwest Washington travel to Oregon to buy products on which no sales tax is levied.

In the U.S., Idaho is one of the few states without a law regulating medical marijuana, said the Marijuana Policy Project. Marijuana advocates working with the Idaho Cannabis Coalition and supporters, are collecting signatures to legalize medical marijuana within the state. This will make it possible for the residents of Idaho to legalize medical marijuana through a ballot initiative in November.

Lerner also forecasted that if the border effects persist in the next ten years, Oregon is going to experience rapid growth in marijuana sales.

Lehner further wrote that his office predicts that during the next ten years, the state’s marijuana sales are going to increase as incomes increase, the population within the state also increases, and as the stigma surrounding marijuana dies and the consumption rate rises.

The petition for gathering signatures was approved in August of 2019, and the advocates and supporters must collect more than 55,000 signatures within the state of Idaho to qualify for the 2020 ballot. April 30, 2020, is the deadline for signature collection.

After filing the petition, the leader of the campaign, Bill Esbensen, said that people should not suffer because they live in the wrong state. He also noted that the medical marijuana initiative is to bring Idaho up to par with other states where medical marijuana is legal such as Oklahoma, Arkansas and West Virginia. This will enable patients to treat their medical conditions with a non-toxic plant.

Analysts believe that weed companies like SinglePoint Inc. (OTCQB: SING) may be thinking that Oregon marijuana companies are getting some respite from the glut as a result of the border effect and this buys them some more time to build a bigger customer base within the state.

About CNW420

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

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CannabisNewsBreaks – Namaste Technologies Inc.’s (TSX.V: N) (OTCQB: NXTTF) Position to Capitalize on Changing Cannabis Industry Highlighted in technical420 Article

Namaste Technologies (TSX.V: N) (OTCQB: NXTTF), an online platform for cannabis products, accessories, and responsible education, was highlighted in a recent article by Anthony Varrell on technical420 titled ‘Namaste Technologies Is On Track To Be One Of The Biggest Turnaround Stories of 2020’. Among other highlights, the article discusses some recent key achievements by the company as well as its strategy moving forward. “Through CannMart, Namaste is well positioned to capitalize on the cannabis 2.0 opportunity, and we find this to be significant. The company expects to start selling several new cannabis derivative products in March and to submit up to 11 unique product SKUs to Health Canada for approval,” author Anthony Varrell states in the article. “The new product formats will be available on CannMart.com and offered through provincial cannabis stores in authorized markets.”

To view the full article, visit http://cnw.fm/doZY0

About Namaste Technologies

Namaste Technologies is the world’s leading online platform for cannabis products, accessories, and responsible education. The company is comprised of a number of wholly owned subsidiaries that could present significant upside and we are favorable on value creation that Namaste could deliver through this portfolio. CannMart represents one of the most important aspects of the Namaste story and the company believes that the market does not fully appreciate the value associated with this opportunity. CannMart provides customers with a diverse selection of hand-picked products from leading Canadian Licensed Producers (LPs). For more information, visit www.NamasteTechnologies.com.

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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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HempNewsBreaks – Youngevity International Inc.’s (NASDAQ: YGYI) Khrysos Industries, Inc. Secures $1.2M of Tolling Revenue for February

Youngevity International (NASDAQ: YGYI), a leading multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise and a commercial hemp enterprise, together with its wholly owned subsidiary, Khrysos Industries, Inc., today announced that its tolling operation within its 82,000 square foot facility in Orlando, Florida has filled 42% of its available capacity generating $1.2 million of revenue for February tolling production. According to the update, Khrysos Industries tolling operation represents one revenue segment of Youngevity’s hemp enterprise. “Our current capacity for our tolling operations, at current prices, provides us the opportunity to generated monthly revenue of approximately $3 million per month,” YGYI President and CFO Dave Briskie said in the news release. “Currently, we are seeing strong demand for tolling of crude oil and we anticipate that this will continue throughout 2020. We remain committed to our hemp enterprise and its fully vertical capabilities in ingredient production, tolling, extraction and processing equipment sales, and finished goods and packaging.”

To view the full press release, visit http://cnw.fm/dL6hT

About Youngevity International, Inc.

YGYI, Inc. (NASDAQ: YGYI), is a leading omni-direct lifestyle company offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity, YGYI offers products from the eight top-selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, fashion, essential oils, photo, as well as innovative services. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution(R) Coffee Company (now part of the company’s food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For more information, visit the company’s website at www.YGYI.com.

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HempWireNews (HWN) 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. HNW 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. HempWireNews (HWN) is where HEMP news, content and information converge.

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HempNewsBreaks – MCTC Holdings, Inc. (MCTC) Enters Distribution Contract with Marijuana Company of America for Hemp You Can Feel(TM)

MCTC Holdings (OTC: MCTC), a cannabinoid science forward company developing unique infusion technologies and cannabinoid delivery systems, today announced its entry into a distribution contract with Marijuana Company of America (OCTQB: MCOA) for MCTC’s Hemp You Can Feel(TM) beverage product line. According to the update, the patent-pending, ultra-clean label beverage line is 95% organic and consists of hemp extract and CBD powdered drink mixes, including soft drinks and non-alcoholic cocktail mixers. “We are pleased to be providing our products for the HempSMART line from Marijuana Company of America,” MCTC Holdings CEO Arman Tabatabai said in the news release. “We share the same beliefs relative to product labeling and we both are proud of this drink line, which is based on 95% organic ingredients and hemp extract infusions containing only natural ingredients. While we are starting out with powdered soft drink mixes, we plan to expand to the other drink offerings that we plan to introduce soon.”

To view the full press release, visit http://cnw.fm/vhk1Y

About MCTC Holdings, Inc.

MCTC Holdings, Inc. (d/b/a: Cannabis Global) is a Delaware registered, fully reporting and audited publicly-traded company. With the hemp and cannabis industries moving very quickly and with a growing number of market entrants, MCTC plans to concentrate its efforts on the middle portions of the hemp and cannabis value chain. The Company plans to actively pursue R&D programs and productization for exotic cannabinoid isolation, bioenhancement of cannabinoids and polymeric solid nanoparticles and nanofibers for addition into consumer products and for dermal application. The Company was reorganized during June of 2019 and announced its intent to enter the fast-growing cannabis sector and its intent to change its corporate identity to Cannabis Global, Inc. The Company is headed and managed by a group of highly experienced cannabis industry pioneers and entrepreneurs. More information on the Company can be viewed at www.CannabisGlobalinc.com.

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420 with CNW – CMC Urges UK Government to Rethink Medical Marijuana Policy

On Wednesday, the Centre for Medicinal Cannabis (CMC) requested the United Kingdom government to perform an urgent review of the medical marijuana policy regarding marijuana accessibility.

The request came after the CMC published the findings of a UK survey. The poll investigated the general public consumption frequency of street-available marijuana in England, Wales, and Scotland.

The YouGov survey had 10,602 respondents, and the study findings were published in a new report referred to as ‘Left Behind-The Scale of Illegal Cannabis Use for Medicinal Intent’. According to the survey findings, more than 1.4 million people (2.8% of the adults) are treating chronic health conditions with marijuana.

The report also revealed that people across all age groups, social standing, family groups, and both sexes from Britain are using marijuana therapeutically, and half of them spend approximately £100 every month on weed to manage their symptoms.

After analyzing the survey findings, CMC made the following estimation on the number of people using marijuana to treat various health conditions in the UK.

Depression – 653,456
Anxiety – 586,288
Chronic pain – 326,728
Arthritis – 230,631
Insomnia – 182,583
Post-traumatic stress disorder (PTSD) – 177,778

The medical lead at the Center for Medicinal Cannabis, Dr. Daniel Couch, said that the data in their report highlights the personal, moral, and societal cost of consuming street-available weed.

According to the published report, marijuana consumption is done by people across all socio-demographic groups. Self-medicating on medical marijuana was observed in 56% of people from social class C2DE, and 44% from ABC1.

The majority of the people who are self-medicating are between the ages of 18-44 ( 71.4%); however, a large number of users are above the age of 55 (14.6%), while 80% of these people use marijuana as a treatment daily or weekly.

On the issue of consumption frequency, the survey found that daily, weekly, and monthly use was 55.8%, 23.4%, and 8.5%, respectively. It also found that 42% of consumers spend more than £100 each month on street marijuana while 9% of consumers do not spend a penny on weed because they either grow it or are given by friends or caregivers.

The highest spending was observed among people who have Parkinson’s disease as they spent £350 each month.

According to the poll’s findings, people are using marijuana to treat the following conditions:

Depression,
Anxiety,
Chronic pain,
Insomnia,
Autism spectrum disorder,
Psoriasis,
High blood pressure,
Cancer,
Schizophrenia,
Spinal cord injury,
Glaucoma,
Heart disease,
Cascular disease,
Peripheral neurosis, and
HIV/AIDs.

According to the YouGov survey, the consumption frequency of people suffering from various ailments was as follows, Huntington’s disease 41.67%, schizophrenia, 41.18%, Parkinson’s disease 30.43%, Autism spectrum disorder 20.39%, Multiple Sclerosis 19.23%, and PTSD 17.37%.

The review on medical marijuana policy called for by the CMC is intended to ensure that patients can afford marijuana as well as reducing the personal risk of buying street-available weed.

Currently, the number of clinical trials assessing the therapeutic effect of marijuana-based medicines is limited.

The founder of the Center for Medicinal Cannabis, Steve Moore, said that the survey findings confirm their suspicion that at least 3% of the adult population in the UK are using marijuana to manage their chronic health conditions instead of the pharmaceutical products.

The report reaffirms the importance of re-evaluating the issue of marijuana accessibility in the UK, said the Ceo of Block Commodities, Ian Tordoff. Tordoff further noted that his company would continue to support CMC efforts and raise awareness of the positive impact of marijuana plants on public health and general social wellbeing.

Industry watchers believe that cannabis companies like Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) are always deeply saddened when reports of entire populations forced to depend on marijuana from the black market emerge as this UK survey shows.

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HempNewsBreaks – SinglePoint Inc. (SING) Debuts New Line of JTI USA’s PrimeTime Little Cigars at 2019 MJBIZCON

SinglePoint (OTCQB: SING) recently entered into a distribution agreement with JTI USA, a multibillion-dollar organization with an international presence in 130 countries (http://cnw.fm/fFn79). An article discussing the company reads, “In addition to debuting the 1606 Original Hemp pre-rolled product, SING will represent — and take orders for — JTI’s PrimeTime Little Cigars debut. This product has already become known as the ‘best-flavored little cigars’ on the market. PrimeTime(TM) has built a reputation as a leading consumer over the last 20 years and has been in major accounts such as Circle K and 7-Eleven. . . . ‘I’m excited and honored to be working with JTI to distribute PrimeTime Little Cigars,’ SING CEO Greg Lambrecht stated in a news release. ‘The opportunity to work with a global leader in this category is exciting, and we are ready to expand Primetime’s U.S. market share with our unique experience in alternative markets. Having placed premium cigars in over 20,000 accounts, we expect this opportunity to be one of our major revenue sources in coming years, and to distribute additional JTI products as we grow this category.’”

To view the full article, visit http://cnw.fm/L5NZe

About SinglePoint Inc.

SinglePoint invests in and acquires brands and companies that will benefit from an injection of growth capital and sales and marketing expertise. The company’s portfolio currently includes solar, hemp and distribution tobacco products. SinglePoint is working to grow the company to a multinational brand. For more information, visit the company’s website at www.SinglePoint.com.

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

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CannabisNewsBreaks – HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) Slated for Success as Key Advancements Anticipated for Cannabis Industry in 2020

HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF), a hemp-biomass processing entity, recently entered into a share and purchase agreement with Starling Brands Inc. to acquire Starling’s subsidiary Kase Farma Inc., a company authorized to work with hemp cultivation, extraction, refining, formulation and distribution in California (http://cnw.fm/uMc95). A recent article discussing the company reads, “Starling executives anticipate that 2020 may be the biggest year ever for hemp and cannabis policy reform in the United States, given recent changes in the regulatory landscape such as the 2018 Farm Act’s passage by Congress and the president, the SAFE Banking Act’s passage by the House of Representatives this year and the Congressional introduction of the marijuana-decriminalizing MORE Act. . . . Kase Farma is preparing new equipment for processing and distilling up to 12,000 pounds per day of dried hemp biomass for the coming year’s hemp-cultivation season, and HTC is likewise preparing to process hemp biomass in Saskatchewan under a tolling strategy coordinated with area farmers. . . . HTC expects to sell extracted cannabidiol (CBD) through brands under its related entity, Purely Canada Foods, including Purely Canada Hemp(TM), Purely Canada CBD(TM), Purely Canada CBG(TM) and Purely Canada Cannabinoids(TM).”

To view the full article, visit http://cnw.fm/17bP8

About HTC Extraction Systems

HTC Extraction Systems has developed and optimized proprietary technologies designed for biomass extraction, distillation and purification of ethanol and ethanol-based solvents used for the hemp-biomass and cannabidiol (“CBD”) industry as well as gas and liquid extraction. HTC’s extraction and purification systems are engineered to large scale to reduce capital and operating costs while delivering superior performance measured by reduced energy usage, lowered emissions and improved quality of the product produced. For more information, visit the company’s website at www.HTCExtraction.com.

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

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) Focuses on Offering Premier, Dosable Cannabis Products

Plus Products (CSE: PLUS) (OTCQB: PLPRF), a hemp and cannabis food company using nature to bring balance to consumers’ lives, is concentrating on producing edibles using extracts to ensure compliant, dosable and tasty products that provide a reliable cannabis experience. An article discussing the company reads, “In California, PLUS has established its iconic product: PLUS Gummies (cannabis infused). Its Plus Uplift Sour Watermelon was the best-selling cannabis product in California in 2019. . . . Of note to investors is that Plus Products is centered on quality growth in California and beyond. Its emphasis is on thoughtfully building a brand in a strategic, deliberate approach. The company is growing its brand through new markets, new products and new consumers. . . . . Plus Products continues to be driven by its dedication to premier dosable products. For investors, PLUS is marketing creatively including product launch partnerships with American superstar John Legend and direct-to-consumer sleep pioneer Casper. PLUS recently entered the national hemp CBD market expected to exceed $20 billion by 2022.”

To view the full article, visit http://cnw.fm/Nq1Hq

About PLUS

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, and has 80 employees. For more information, visit the company’s website at www.PlusProductsInc.com.

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CannabisNewsBreaks – technical420 Highlights Potential Acquirers, Acquisition Targets as 2020 Shapes to be a Bounce-Back Year for Cannabis M&A

A recent editorial by Anthony Varrell of technical420 reviews a slowdown in merger and acquisition (M&A) activity in the cannabis sector during the last year and its expected positive trend and bounce back in 2020 and moving forward. The article highlights three companies thought to be potential acquirers, including Canopy Growth (TSX: WEED) (NYSE: CGC), MediPharm Labs (TSX: LABS) (OTCQX: MEDIF) and Jushi Holdings (CSE: JUSH), as well as companies technical420 believes could be potential acquisition targets, including Stem Holdings (CSE: STEM) (OTCQX: STMH), Fire & Flower Holdings Corp. (TSX: FAF) (OTC: FFLWF) and WeedMD (TSX.V: WMD) (OTCQX: WDDMF). “Several high-profile acquisitions that were announced in 2019 have been terminated or are still pending. The closing of these acquisitions will be a positive trend for the sector, and we expect to see a bounce back in the cannabis M&A market in 2020 and beyond,” Varrell writes. “Once valuations start to improve, we expect to see a significant increase in the amount of M&A activity, and this is a trend that we will continue to monitor.”

To view the full article, visit http://cnw.fm/EMjj4

About technical420

Technical420 is dedicated to educating investors about the risk and rewards of investing in the cannabis industry. It highlights companies that have the most growth potential by utilizing its proprietary analytics platform. For more information, visit www.technical420.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.

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CBDNewsBreaks – Marijuana Company of America, Inc.’s (MCOA) hempSMART Enters Definitive Sales Agreement to Offer Ultra-Clean Label CBD Beverage Products

Marijuana Company of America (OTCQB: MCOA), an innovative hemp and cannabis corporation, today announced that its wholly owned subsidiary, hempSMART Inc., has entered a definitive sales agreement to purchase ultra-clean label CBD beverage products from MCTC Holdings Inc. (OTC: MCTC). Science and technology innovation company MCTC is focused on developing patented hemp extract infusion technologies and the sustained release of cannabinoids in the human body. According to the update, the new hempSMART(TM) branded products will be unique to the marketplace, and, during the initial stage, MCOA will offer a line of powdered drink mixes containing broad-spectrum hemp extracts with over 35 milligrams of CBD derived from all-natural extraction processes. Other powdered and pre-mixed beverages will be included in future offerings. “We are quite excited to unveil our new, ultra-clean label product line of CBD-infused powdered drink mix,” hempSMART Chief Operating Officer Trevor Muehlfelder said in the news release. “The products are based on a unique dual-hemp extract infusion process that’s unlike most products and have no artificial ingredients or chemicals. Our new product line is based on organic ingredients, including organic inulin from vegetables and trace amounts of organic coconut and sunflower oils, combined with a touch of CBD-infused honey produced at organic farms. This will truly be a unique, clean label product offering. We believe our new powdered drink line will revolutionize the beverage marketplace in the new 20’s the same way Coca Cola did in the 1920’s.”

To view the full press release, visit http://cnw.fm/Q38x3

About Marijuana Company of America Inc.

MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART(TM), which targets general health and well-being; (2) an affiliate marketing and retail sales program to promote and sell its legal hemp-based consumer products containing CBD; (3) joint ventures and acquisitions of business entities engaged in the growth and sale of hemp and cannabis products in jurisdictions where cultivation is legal; and (4) the expansion of its business into ancillary areas as market opportunities in this segment mature and develop. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.

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

About CBDWire

CBDWire (CBDW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CBDNewsBreaks 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, CBDW 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. CBDW 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, CBDW brings its clients unparalleled visibility, recognition and brand awareness. CBDW is where news, content and information converge.

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