Category: CannabisNewsWire Release

420 with CNW – It’s Official, South Dakota Will Vote on Medical Marijuana Measure in 2020

For a long time, cannabis was classified with hard drugs like cocaine and heroin, a move that tarnished the plant’s image for decades. It prevented proper research into the plant and most of all kept it away from people who actually needed it. As we know, cannabis has plenty of medical properties that make it an extremely potent and versatile natural alternative to pharmaceuticals.

Before the 2018 Farm Bill legalized hemp and made it possible to sell hemp extract cannabidiol (CBD), there was medical marijuana. It led the charge as far as overhauling marijuana’s image was concerned, and on top of that, helped tons of people recuperate from a variety of medical conditions.

States like Illinois, Delaware, and California already have medical marijuana programs in place, and it seems like South Dakota may join the list. The Secretary of State’s office confirmed that a statutory measure to legalize medical marijuana in South Dakota qualified for the state’s 2020 ballot.

The proposal, now officially referred to as Initiated Measure 26, was facilitated by activists who collected more than 30,000 signatures for the petition last month. “Our office conducted a random sample of the petition signatures and found 74.65 percent to be valid,” says South Dakota Secretary of State Steve Barnett.

The reform is the first cannabis reform citizen initiative that’s made it into the ballot. A few other states have such reforms in the works, including Mississippi and Nebraska.

Aside from the medical marijuana measure, there’s a second measure to legalize adult-use marijuana that the organizers hope will reach the signature threshold in time for next year’s vote. Both of the measures are backed by national advocacy groups Marijuana Policy Project (MPP), and New Approach PAC.

“Across the country, voters are recognizing that it makes no sense to waste law enforcement resources on arresting adults for marijuana possession and that it also makes no sense to force marijuana sales into an unregulated illicit market.

Simply put, legalizing, regulating and taxing marijuana is the public policy decision that best serves the interests of public health and public safety,” says MPP Deputy Director Matthew Schweich.

“Next year, voters will have the opportunity to approve a ballot initiative that would provide legal, safe, and regulated access to medical marijuana for qualifying patients.”

Schweich argues that right now, the state government is forcing otherwise law-abiding people to be criminals in order to live healthier, happier and more productive lives. “We’re going to end that heartless injustice.”

He hopes that the adult-use legalization initiative will also qualify for the 2020 ballot. “We expect that it will, and South Dakota will be the first state in American history to vote on medical marijuana and adult-use legalization initiatives on the same ballot.”

One can only imagine what marijuana companies, such as Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Dama Financial, think about the odds of these ballot initiatives during the 2020 polls.

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 – ChineseInvestors.com Inc. (CIIX) Leveraging Diversified Revenue Streams

ChineseInvestors.com (OTCQB: CIIX) aims to assist investors in making knowledgeable investment decisions within various industries that meet the investor’s financial goals. An article discussing the company reads, “Overall, ChineseInvestors.com’s plan is to focus on its original mission of providing financial information and services to the larger Chinese community in the United States and elsewhere. Of note to investors regarding the company’s CBD initiatives is that ChineseInvestors.com CEO Warren Wang indicated that the company hopes for a Nasdaq IPO of CBD Biotech late in 2019 or early 2020 (http://cnw.fm/SqPN4). Following that, the company would concentrate on identifying an acquisition target for further growth. FinTech products and services and CBD initiatives contribute to the varied revenue streams of ChineseInvestors.com.”

To view the full article, visit http://cnw.fm/Q4nNp

About ChineseInvestors.com

Founded in 1999, ChineseInvestors.com endeavors to be an innovative company 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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CannabisNewsBreaks – SinglePoint Inc. (SING) Exceeds $1M in Revenue During Q3

SinglePoint (OTCQB: SING), a technology and investment company, recently reported financial results that marked the largest third quarter in company history (http://cnw.fm/nUi2A). An article discussing the company reads, “Revenue for the company reached more than $1 million as SING continues to see impressive growth in both hemp and solar. In addition to reporting record-breaking revenue, the company outlined plans for continued growth moving into 2020. . . . ‘We have an exceptional strategic plan in making SinglePoint one of the biggest publicly traded companies in the smokable hemp space,’ SING CEO Greg Lambrecht stated in a news release. ‘We believe we offer investors and our current shareholders tremendous value given our leadership position in several explosive markets including ecommerce, hemp and solar. As SinglePoint continues to grow revenue and profit, we continue to strive for meeting the qualifications to apply for a listed exchange.’”

To view the full article, visit http://cnw.fm/7Q40l

About SinglePoint Inc.

SinglePoint is a technology and acquisition company with a focus on acquiring companies that will benefit from management, capital and technology integration. The portfolio includes mobile payments, industrial hemp and renewable energy solutions. Through acquisitions into horizontal markets, the company is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, SinglePoint provides products and services to the cannabis industry. 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

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

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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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420 with CNW – A Primer on Medical Marijuana Products and Dosage Tips

There is a variety of medical marijuana products used to treat various diseases and conditions in the world today. People can use these products through various modes of delivery such as:

  • Ingestion of liquids such as oils, tinctures, and drinks infused with medical marijuana;
  • Intake of solids such as capsules or tablets, edibles, and regular foods mixed with medical marijuana oil or powder;
  • Topical administration directly on the skin. The products include creams, salves, balms, ointments, and transdermal patches;
  • Suppositories such as tablets or capsules;
  • Inhalation, which is achieved by smoking dried buds, vaping, or dabbing; and
  • Insufflation through the use of nasal sprays.

No method of delivery can be termed as perfect because each of the methods has its pros and cons. For some, the relief may be instant, while others take longer before they can feel the effects of weed, while others react with a specific area of the body.

The ability to prescribe the correct dosage of medical marijuana products to treat a medical condition is a vital element when choosing the mode of delivery. Doctors should also consider the patient’s lifestyle as well as their ability to consume drugs reliably and effectively. For example, a strong THC dosage may be effective in treating illness, but it may end up impairing drivers or people operating heavy machinery. Therefore, doctors should advise patients to take small doses at intervals during the day, which will ensure that they get all the benefits required to treat the condition.

Another factor affecting the delivery of medical marijuana is the ‘first pass effect.’ The first-pass effect is the process where enzymes found in the liver breakdown CBD and THC before they are absorbed in the brain or other body organs. This means the dosage getting to the intended location is a smaller proportion than what was ingested.

Patients should note that CBD and THC are not water soluble and that the cannabinoids mix well with fats and oils. For this reason, it is best to consume them along with a fatty meal. It is also important to note that cannabinoids are sensitive to light and oxygen; that is why weed is stored in dark bottles or shelves.

It is recommended for patients to start with low doses and see how it affects the body before increasing the dosage; this method is referred to as dose titration. It is suitable for taking THC medication.

Patients can also take minute doses of the medicine to get the positive benefits without experiencing the adverse side effects of a large dose. This method is referred to as microdosing. Patients can take a small dosage, such as 1/20 of the total dose. It is ideal for anxiety, depression, and insomnia.

Tablets and capsules are an accurate and precise method of dosing. They are easily portable and discreet as you can take them in public. They also have a long-lasting effect.

Due to technological advancements and innovations, in the future, patients will have the opportunity to choose products designed to suit their specific needs as well as advanced methods of delivery such as nasal sprays or transdermal patches capable of increasing or lowering dosages automatically.

Experts believe that marijuana companies such as Grapefruit Boulevard Investments Inc. (OTCQB: IGNG) and IONIC Brands Corp. (CSE: IONC) (OTC: IONKF), are working round the clock to perfect their products and develop novel delivery systems.

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 – West Virginia Warms Up to Medical Marijuana

West Virginia is set to launch the application process for medical marijuana cultivators, processors, dispensaries, and laboratories by the end of this month.

They are only accepting online applications, and the application deadline is on February 18, 2020. This means that the department will not accept applications past the deadline.

In the month of November, the Director of West Virginia Office of Medical Marijuana, Jason Frame, said that the launch of the application process is a step toward availing medical cannabis to the residents of West Virginians who are suffering from serious medical ailments.

The competition for the permits will be stiff since the Bureau for Public Health in West Virginia plans on issuing no more than ten growers, ten processors, and 100 dispensaries with licenses.

The growers are expected to pay a non-refundable fee of $5,000 and a permit fee of $50,000. The processors are required to pay non-refundable application fees of $5,000, and permit fees of $50,000, while the dispensaries applicants are required to pay a non-refundable fee of $2,500 and  $10,000 license fees.

On April 19, 2017, the Governor of West Virginia signed into law the state’s medical marijuana program, indicating that it has been a long process and that it is far from over because applications will have to be reviewed, licenses issued, and the enactment of rules governing medical marijuana sales.

It will be a long wait before patients and caregivers can access medical marijuana products because all medical marijuana that is to be sold within the state of West Virginia must be cultivated and processed within the state.

The state has not indicated when it will open the applications for medical marijuana cards. There is a possibility that the first dispensary will not be opened until 2021. This makes the process from legislation to the first sale of medical marijuana a lengthy one, with estimates showing that the entire process could take more than four years.

Some of the medical conditions that will be included in the list of qualifying conditions include terminal illnesses, cancer, post-traumatic stress disorder, and chronic or intractable pain. The medical marijuana medication will be available in the form of creams, gels, liquid, pills, ointments, tinctures, and non-whole plant matter for vaping.

Physicians who want to participate in the program are required to submit an online application to the Public Health Bureau demonstrating their proficiency in treating various ailments. They are also supposed to take a four-hour course that is to be established and possess valid licenses permitting them to practice medicine in West Virginia.

It is widely accepted that the entire cannabis industry, including sector players like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) and Cannabis Strategic Ventures Inc. (OTCQB: NUGS), will be extremely pleased when qualifying patients in West Virginia start accessing medical cannabis.

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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CBDNewsBreaks – ChineseInvestors.com Inc. (CIIX) Establishing Position as Leader in China’s Budding CBD Industry

ChineseInvestors.com (OTCQB: CIIX) CEO Warren Wang recently joined Donald Baillargeon on MoneyTV to discuss company news, such as subsidiary CBD Biotech’s recent attendance at the 2019 China Industrial Cannabis CBD Industry International Conference in Haerbing, China. An article further discussing the company reads, “Wang described the conference’s focus on the hemp/CBD industry in China, which cemented his belief that the industry has a bright future. China’s cannabis industry is in the early stage of development and has a large potential for growth. Institutional investors, analysts and fund managers who are interested in the opportunities both in China and offshore were in attendance. Legalization is slow in China, but the laws are changing, and investors are looking for potential opportunities. With approximately 1.4 billion people, China has four times the market potential of America. In a ‘Wall Street Journal’ video, titled ‘Why China is Betting Big on CBD’ (http://cnw.fm/rTcR9), the consensus among Chinese entrepreneurs is that while the U.S. is a currently a major player, the future of the cannabis industry belongs to China.”

To view the full article, visit http://cnw.fm/qF9Hn

About ChineseInvestors.com

Founded in 1999, ChineseInvestors.com endeavors to be an innovative company providing (a) real-time market commentary, analysis and educationally related services in Chinese language character sets (traditional and simplified); (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 CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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CBDNewsBreaks – HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) Holds Favorable Market Position as U.S. Hemp-Based CBD Sales Expected to Reach $22 Billion by 2022

HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF), a hemp-biomass processing entity, is positioned to profit following major investments and acquisitions in the quickly expanding cannabidiol (“CBD”) and cannabinoid market. An article discussing the company reads, “As a developer of proprietary gas, liquid and biomass extraction systems that are designed for the extraction of gas, liquids and biomass, and the distillation and purification of ethanol and ethanol-based solvents used for this extraction, HTC Extraction Systems has a highly positive outlook when it comes to CBD market expansion, with major investments in the acquisition of extracting, purifying and refining equipment. . . . Demand for cannabinoids is growing constantly and, given that cannabis is still a Schedule 1 drug according to the federal government, extraction from cannabis comes with certain legal risks. To avoid legal issues, many companies, including HTC Extraction Systems, focus their efforts on extracting cannabinoids from hemp. This has led to the fast expansion of the hemp industry and especially of the hemp-derived CBD market. According to industry analyst Brightfield Group research, U.S. sales of hemp-based CBD products are projected to reach $22 billion by 2022, up from $591 million in 2018. This is equivalent to a CAGR of 147% (http://cnw.fm/oCrb7).”

To view the full article, visit http://cnw.fm/67EPg

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

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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CannabisNewsBreaks – MCTC Holdings Inc. (MCTC) Expanding Development of Cannabis Infusion Technologies

MCTC Holdings (OTC: MCTC), doing business as Cannabis Global Inc., is a company devoted to research and development of innovative infusion technologies in the rapidly expanding sector of cannabinoids sciences. A recent article discussing the company reads, “Since MCTC Holdings reorganized itself in June, the company has focused its corporate efforts on the fast-growing cannabis industry, specifically the development of products that build on proprietary research into exotic cannabinoid isolation, bioenhancement of cannabinoids and polymeric solid nanoparticles and nanofibers that can be added into consumer products and applied through the skin. . . . ‘The polymer-based nanoparticles being developed by MCTC significantly differ from the simple oil-in-water nanoemulsions being marketed as interim solutions for the food and beverage industry,’ the company stated in a press release (http://cnw.fm/MV8Ao). ‘The polymer-based particles the company is developing will allow for significant loading of active ingredients and unparalleled flexibility in creating custom cannabinoid combinations with unique performance characteristics.’”

To view the full article, visit http://cnw.fm/u459K

About MCTC Holdings Inc.

MCTC Holdings, doing business as Cannabis Global Inc., is focused on delivering long-term shareholder growth and results. The company invests with confidence and determination to be at the forefront of the cannabis and CBD revolution. For more information, visit the company’s website at www.CannabisGlobalinc.com.

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

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

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420 with CNW – What is the Shelf Life of Cannabis Edibles?

Marijuana edibles give the consumers a good buzz minus the risks associated with smoking or vaping the products, regardless of whether you bought them at a dispensary or made them in your kitchen. Most of these products have an expiry date printed on the packaging or an attached sticker. This means that it is unhealthy and unsafe to consume these products past their expiry date. It is, however, uncertain if the expired products can still get you high.

A number of top-rated manufacturers of marijuana-infused foods have provided some information on the shelf life of homemade and packed edibles so that consumers can get some needed answers about the potency and safety of expired cannabis edibles.

A certified chef de cuisine and master chocolatier, Scott Van Rixel, says that the most critical factor of infused marijuana products apart from the expiration date is the edibles’ shelf life. Rixel is also the founder of Bhang Corporation, which manufactures marijuana edibles.

Rixel further said that the shelf life of an edible is attributed to the fact that it is a food product rather than the fact that it is infused with marijuana. All consumable food products, including those that aren’t infused with marijuana, are made of perishable ingredients that go bad with time and depending on the environmental conditions. Therefore, you may find marijuana-infused products getting stale or going rancid, just like any other non-infused food products.

The CEO of Wana Brands, Nancy Whiteman, said that product packaging and the method used in adding THC to the products could also impact the edibles’ shelf life.

Marijuana experts say that the THC in the infused product would not be destroyed; however, the methods used to mix THC, and the food products, determine its potency.

Research carried out by Wana Brands found that their company’s edible products do not lose their potency over time, said Whiteman. She further explained that they conducted research on their edibles at intervals of six months, nine months, and one year and found that the change in potency is not significant.

However, the process of manufacturing edibles can lead to loss of potency in some products over time, said Ron Silver. Silver is the founder and Chief creative officer at Azuca, a marijuana edibles company. Silver further explained that the thick nature of marijuana oil contributes to the shelf instability of marijuana edibles.

Marijuana oil that is not emulsified correctly separates from the food products, and it is left behind on the surface of the packaging, meaning that you do not ingest all the THC in your edible. Azuca has developed a process that makes cannabinoid molecules water soluble, making it easy for them to be absorbed. This helps to stabilize the edibles.

Although the expired products are still potent, the choice on whether to go ahead and consume that potent  and expired edible depends on the food that was infused and the extent of possible harm the expired food ingredients can inflict. Furthermore, the experience of consuming an expired marijuana edible will not be as pleasurable as with a non-expired edible.

Silver further said that more research is needed to determine and understand the stability of marijuana cannabinoids with certain foods, and their interaction with the body’s metabolism. It would also be essential to find out how sick expired marijuana edibles can make a person.

Proper storage of marijuana edibles prolongs their freshness, and perishable foods such as eggs and dairy should be refrigerated. The temperature in the packaging of gummies should be controlled and they should be kept away from light.

Each marijuana product, especially edibles, is different and that is probably the reason why marijuana sector players like Neutra Corp. (OTC: NTRR) and HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) emphasize that customers adhere to the usage and storage instructions provided by the manufacturer.

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 – Canadians Consume 100 Tons of Recreational Weed in First Year of Retail Sales

Data from Health Canada shows that Canadians purchased about 100 tonnes of legal adult-use marijuana within the first year of legalization and that the level of available stock continues to increase.

According to the monthly Marijuana Tracking System from Health Canada, the dried flower marijuana sold in Canada within its first year of legalization amounted to 88,676 kilograms. The overall sale of dried buds has tripled since October 2018.

Data from Health Canada further showed that at the end of September, the finished and unfinished dried marijuana inventory held by farmers, processors, distributors, and retailers amounted to 380,666 kilograms, which is about 32.5 times the quantity of total stock sold within the month of September. At the end of September, the data showed that there were about 64,151 kilograms of finished dried marijuana products in inventory, which has been going up by 5 percent every month. This suggests that a significant amount of legal pot inventory is yet to reach the retailers as the wholesalers hold it.

Within the same year, the recreational market sold a total of 46,056 liters of marijuana oil, which is an equivalent of 9,211 kilograms of dried bud. This brings up the total quantity of dried buds to about 97,887 kilograms sold to the legal recreational market.

The amount sold in the legal recreational markets is less than the quantity projected by Canadian analysts, and it is a sign that the black market demand still outpaces legal marijuana sales. In the Middle of 2018, John Zamparo, an analyst with CIBC World Markets, said that the recreational market in Canada would sell approximately 400,000kgs of legal weed annually while the Bank of Nova Scotia predicted that the total amount of marijuana to be sold this year in Canada would be 900,000kgs. These figures show that lega sales are still way below the potential of the legal recreational marijuana industry, and a possible indicator that the rest of the projected demand is being met by illicit sellers.

The data from Health Canada also showed that by the end of September, there was a total of 1,781,106 square meters of active marijuana cultivation area in Canada. This is an increase from the previous year’s 452,896 square meters of cannabis cultivation area. By the end of the first year of marijuana legalization in Canada, the farmers had planted about five million marijuana plants, and compared to last October, it is a four-fold increase.

On Tuesday last week, Statistics Canada showed that in the third quarter of the year, Canadian households spent a total of $1.27 billion on weed, with $860 million of the total sales were from the black market. The estimated sales from the legal marijuana market total were $417 million.

Experts wonder what recommendations weed companies like The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) and SinglePoint Inc. (OTCQB: SING) have for wiping out the marijuana black market that is exposing consumers to the risks associated with untested products.

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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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