Category: CannabisNewsWire Release

CannabisNewsBreaks – Willow Biosciences Inc. (CSE: WLLW) (OTCQB: CANSF) to Commence Trading on the Toronto Stock Exchange on December 5

Willow Biosciences (CSE: WLLW) (OTCQB: CANSF) on Tuesday announced its receipt of final approval to list its common shares on the Toronto Stock Exchange (the “TSX”). According to the update, Willow’s common shares will commence trading on the TSX effective as of the open of the market on Thursday, December 5, 2019. The common shares will continue to trade under the symbol “WLLW” upon listing on the TSX. In conjunction with the TSX listing, the common shares will concurrently be delisted from the Canadian Securities Exchange.

To view the full press release, visit http://cnw.fm/il5AE

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company based in Calgary, Alberta, that produces high purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow’s current focus is in the production of cannabinoids for the treatment for pain, anxiety, obesity, brain disorders, among other significant indications. Willow’s science team has a proven track record of developing manufacturing technologies for high purity compounds in pain and cancer treatments. Willow’s manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life changing drugs. For more information, visit the company’s website at www.WillowBio.com.

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

About CanadianCannabisWire

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

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

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

Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

420 with CNW – How Marijuana Can Improve Your Holidays

The holiday season is around the corner, and it is a time of festivities and gathering of families, friends, and relatives. To some, the season is a source of stress, anxiety, and insomnia. Are you nervous when attending a family gathering? Take a small dose of marijuana to take the edge off. Be careful not to indulge in excess since you do not want a noticeable high.

The consumption of marijuana during the following activities can help relieve some of the adverse effects of the festive holidays.

Family Get-Togethers

Sometimes it can be a challenge to be around relatives when all they want is to discuss controversial issues or do things that make you uncomfortable for an extended period. To make these visits tolerable, you can consume a microdose of marijuana while being careful not to induce an apparent high. If you want to be discreet while using marijuana, you can opt for consuming edibles as they are packed with a small amount of weed, which you can eat all evening discreetly. Since marijuana edibles do not have the smell of cannabis, you will not have “judgy” comments thrown your way.

Traveling

The month of December involves a lot of movements from one point to another since families want to re-unite either during Thanksgiving, Christmas, or New Year’s. The traveling means some people are going to be traversing long distances, mostly through the air, and most often, this leads to jet lag. For those who are traveling, they can take a light dose of cannabis beforehand as it will help them sleep throughout their flight.

Feasting

During the month of December, which is full of parties and celebratory activities, people indulge themselves in a variety of rich and delicious foods and beverages. If you find that your appetite is lacking, you can take marijuana as it is known to improve appetite. It also makes food taste better. Purchase the strains that are known to induce the desire for food. Take a small dose before meals, and you will find that the food is yummy.

Unwinding

If you want to break away from all the partying and the additional strain such holiday activities can cause, take a relaxing strain of marijuana through smoking, vaping, or a bong.

Marijuana does not address all conditions; therefore, if you are overwhelmed by all the activities in the holidays to the point of considering self-harm, seek the help of a friend or a qualified professional.

Industry watchers are convinced that marijuana companies like VPR Brands LP (OTCQB: VPRB) and VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) can recommend the best product for the different situations in which you may find yourself during the holidays.

About CNW420

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

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – What You Should Know About Cannabis Drinkables

Marijuana consumers are in love with cannabis beverages because they are discreet, taste good, require no equipment to use, and they are familiar with a safe delivery system.

In the cannabis market today, weed-infused drinks are one of the fastest moving products. These drinks include tinctures that are mixed with cocktails, non-alcoholic wines, beer, or champagne. Companies are also producing wellness beverages that, when taken they induce sleep; thus, instead of taking aspirin or Ibuprofen after hard exercises or games, take a marijuana cocktail, and you will feel relaxed in no time. Sparkling drinks are also infused with weed as they attract Millennials as well as the baby boomers who are not a fan of smoking.

Discussed below are answers to some of the common questions on marijuana beverages:

There are many marijuana beverages, why?

Drinkable marijuana comes in various forms, and these include liquid medicine, intoxicating drinks, and wellness shots. BDS Analytics is a company that tracks marijuana trends, and in mid-2019, it found that there 88 beverage brands on the market, which was 18 more than in 2018 at the same time. The total percentage of marijuana edibles in the market in the U.S. in 2018 was 6%. BDS estimates that by 2020, marijuana beverages, including those infused with CBD and THC sold in retail outlets and non-THC drinks sold in supermarkets and convenience stores, could be worth $1 billion.

Why did marijuana beverages take long to get on the market?

The process of producing weed-infused drinks is complicated because cannabinoids do not mix with water; instead, they float to the surface. Before coming up with marijuana beverages, researchers have done several hit-or-miss experiments. A Seattle-based beverage tech company, SoRSE, is among the marijuana innovators in the industry. The company is trying to establish how marijuana oils can be converted into water-soluble emulsions, which do not have taste or smell.

SoRSE vice president, Michael Flemmen, said that they used food-grade components approved by the FDA. The food-grade components are safe for consumption. Some of the products manufactured by the company include happy, sparkling, and marijuana-infused drinks, which include Utopia, a fruit-flavored sparkling water.

Will marijuana-infused drinks trigger paranoia?

The founder and Chief Technology Officer for Spherex, Niccolo Aieta, said that the marijuana-infused beverages have the advantage of predictability over edibles. Spherex is based in Denver, and it develops weed concentrates. An example of such a product includes Phyx, which is a sparkling water infused with light doses of THC and CBD. Compared to edibles, marijuana drinks reacts faster with body metabolism and the endocannabinoid system, and its effects are noticeable almost immediately. In this way, you can control how high you get with drinkables and thereby prevent sliding into paranoia.

Where can you buy cannabis beverages?

Consumers can purchase the drinks from the product’s website or in dispensaries in the states where marijuana is legal. Hemp-derived CBD drinks can be also be found in grocery shops in all the 50 states.

Nic Balzer, who is a member of U.S. Hemp Roundtable, said that the industry is faced with a lot of regulatory challenges, and they are hoping the FDA will make their ruling on the matter soon.

Analysts say the desire for regulations expressed by Nic Balzer is likely to be echoed by other sector players like The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) and Sugarmade Inc. (OTCQB: SGMD) since they too are affected by the unregulated cannabis drinks segment.

About CNW420

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

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

HempNewsBreaks – Hemptown USA Aims to Capitalize on Mounting CBG Market

Hemptown USA, a privately owned grower of full-spectrum, feminized hemp using premium-seed genetics, plans to capitalize on the rising cannabigerol (“CBG”) market. A recent article discussing the company reads, “Feminized hemp plants must normally be harvested early in the growth process to capture the CBG before it changes its form to CBD and tetrahydrocannabinol (THC), but Hemptown USA plants have been designed to allow harvesting later at full maturity. They have also been designed to be far richer in CBG (10–14%). In 2020 and beyond, the company has exclusive rights to 20% of the latest and greatest novel cannabinoids being produced by its genetics partner. . . . Hemptown just completed in the fall of 2019 a 2.1-million-pound harvest of both CBG- and CDB-rich, dried, hemp biomass and will be scaling its downstream operations to meet global demand in the wake of the successful 2019 growing season. According to Hemptown data, the company is on track for 2019 revenue of $19 million and is projecting $104 million revenue for 2020 once downstream extraction/production is in full swing. In 2018, the company harvested 110,000 pounds of full-spectrum biomass with CBD content of around 14% from its Oregon hemp farms.”

To view the full article, visit http://cnw.fm/jNn1i

About Hemptown USA

Hemptown USA is growing some of the finest high-cannabinoid hemp plants in the world. Following an impressive first-year yield, Hemptown USA is scaling up its operation to meet the ever-increasing global demand for cannabinoid products. With in-house extraction and processing facilities and expanded farmland spanning three states, Hemptown USA is now positioned to vertically integrate into the consumer packaged goods sectors with top-quality-branded product lines for the consumer market. Hemptown USA’s vertically integrated business model is well positioned to capitalize on a global market expected to exceed $22 billion by 2020. For more information, visit the company’s website at www.HemptownUSA.com.

About HempWireNews

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.

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

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

Please see full terms of use and disclaimers on the HempWireNews website applicable to all content provided by HNW, wherever published or re-published: https://www.HempWireNews.com/Disclaimer

Do you have a questions or are you interested in working with HWN? Ask our Editor

HempWireNews (HWN)
Denver, Colorado
www.HempWireNews.com
303.498.7722 Office
Editor@HempWire.net

HempWireNews is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Agrify to Showcase Cutting-Edge Indoor Grow Solutions at MJBizCon

Agrify, a developer of premium indoor grow solutions, today announced that it will be an exhibitor and key sponsor of the 2019 MJBizCon conference taking place December 11-13 at the Las Vegas Convention Center in Las Vegas, Nevada. The company will showcase its suite of state-of-the-art products at booth C2208 during the conference, including its vertical farming unit, commercial grow containers, integrated grow racks, horticultural lighting, environmental threat solutions and insights grow production software. In addition, Agrify will provide MJBizCon attendees with a glimpse of its groundbreaking Advance Grow Box, a compact indoor grow box designed for home consumer use.

To view the full press release, visit http://cnw.fm/JgW0j

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. For more information, visit the company’s website at www.Agrify.com.

About CannabisNewsWire

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

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

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Green Hygienics Holdings Inc. (GRYN) Names New Head of Quality and Compliance

Green Hygienics Holdings (OTCQB: GRYN), an innovative premium cannabis cultivation and branding enterprise, today announced the appointment of Sid Senroy, MBA, as its Head of Quality and Compliance. In this advisory role, Senroy will facilitate GRYN in establishing cross-functional alliances for improvement and growth, and will work to increase levels of productivity, compliance and efficiencies. “This will directly support the company to achieve its stated objectives to adhere to the highest standards of operations in consistently delivering safe and premium quality products to consumers and that the company intends to be a leader in FDA cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace. We are very excited to have Mr. Senroy as part of the growing Green Hygienics team,” Green Hygienics Holdings CEO Ron Loudoun stated in the news release.

To view the full press release, visit http://cnw.fm/oImX3

About Green Hygienics Holdings Inc.

Green Hygienics Holdings is an innovative, full-scope, science-driven, premium-hemp branding enterprise focused on the cultivation and processing of industrial hemp for cannabidiol (“CBD”). The Hemp Farming Act of 2018 removed hemp from Schedule I controlled substances (defined as cannabis with less than 0.3% THC), making it an ordinary agricultural commodity. GRYN’s mission is to grow the company in a sustainable and profitable manner to be one of the largest industrial hemp-for-CBD producers in North America. The company will adhere to the highest standards of operations in consistently delivering safe and premium-quality products to consumers. GRYN intends to be a leader in FDA cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace. The company’s business model includes generating revenues from the sale of hemp and premium-grade CBD products, creating trusted global consumer brands, developing valuable IP and growing the company rapidly through strategic acquisitions. For more information, visit the company’s website at www.GreenHygienicsHoldings.com.

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

About CannabisNewsWire

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

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

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

CBDNewsBreaks – Willow Biosciences Inc. (CSE: WLLW) (OTCQB: CANSF) Comments on DEA Descheduling Partner’s CBD

Willow Biosciences Inc. (CSE: WLLW) (OTCQB: CANSF), a Canadian biotechnology company and a leading developer in biosynthetically produced cannabidiol (“CBD”), this morning issued a release commenting on the recent news that the U.S. Drug Enforcement Agency (“DEA”) has removed Purisys, LLC’s CBD from Schedule I of the Controlled Substances Act (“CSA”). Purisys, the spin-out entity of Noramco, Inc.’s cannabinoids business, began operating as a stand-alone entity on October 1, 2019 and is expected to become independent from Noramco on January 1, 2020. Per the terms of a joint development agreement, Noramco is Willow’s exclusive manufacturing and distribution partner. Willow holds an informal partnership with Purisys through the agreement as well. “The descheduling of our partner Purisys’ CBD from the CSA signals a fundamental change in how the regulatory bodies in the United States view ultra-pure CBD,” Willow Biosciences president and CEO Trevor Peters stated in the news release. “At Willow, we have always maintained the view that as the market for CBD continues to unfold in the United States there will be an increased amount of oversight into the quality of the manufacturing process in addition to the specifications around the molecule itself. The partnership strives to produce ingredients that are of the highest quality and consistency. As we move towards commercialization of CBD, we believe a significant portion of the pharmaceutical and consumer products industries will desire the ultra-pure, consistent, and cost-effective ingredients that the partnership will be able to provide.”

To view the full press release, visit http://cnw.fm/2j1MN

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company based in Calgary, Alberta, that produces high purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow’s current focus is in the production of cannabinoids for the treatment for pain, anxiety, obesity, brain disorders, among other significant indications. Willow’s science team has a proven track record of developing manufacturing technologies for high purity compounds in pain and cancer treatments. Willow’s manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life changing drugs. For more information, visit the company’s website at www.WillowBio.com.

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

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.

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

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

Please see full terms of use and disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://CBDWire.com/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask Our Editor

CBDWire (CBDW)
Denver, Colorado
www.CBDWire.com
303.498.7722 Office
Editor@CBDWire.com

CBDWire is part of the InvestorBrandNetwork.

HempNewsBreaks – Sugarmade, Inc. (SGMD) Employs Aggressive M&A Roll-Up Strategy

Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, is pursuing an aggressive merger and acquisition (“M&A”) roll-up strategy to position itself as a leader in the hydroponics sector. The company is presently in preliminary talks with six hydroponic and agricultural supply targets in the U.S. and central Europe. SGMD is targeting companies with an EBITDA margin of at least 8% and prefers to pay a reasonable multiple to revenue, with 10% in cash and 90% in stock with exact terms dependent on market conditions. Sugarmade recently closed its acquisition of BZRTH Inc. for roughly 1x revenue, integrating an annualized $33 million in revenues and an EBITDA margin of 5%, with revenues expected to continue to rise. The company also intends to revive its October 2018 letter of intent to pursue the acquisition of Sky Unlimited (dba Athena United) and plans to close the deal in Q1 2020. Sky Unlimited has annualized revenues of $33 million to $35 million and EBITDA margin of 11%. SGMD management notes that this strategy aligns with its planned uplisting to either the New York Stock Exchange or the Nasdaq before mid-year 2020. “We continue to position Sugarmade as a dominant entity in a market that promises aggressive growth as margins tighten for larger producers in the hemp and hemp-related space. The return on investment in this space is extremely appealing right now, and we believe that will continue to be the case as we pursue this strategy,” Sugarmade CEO Jimmy Chan stated in the news release.

To view the full press release, visit http://cnw.fm/pnl6S

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The Company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The Company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator of industrial hemp, and operates Carryoutsupplies.com a leader provider to the quick service restaurant industry. For more information, visit the company’s website at www.Sugarmade.com.

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

About HempWireNews

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.

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

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

Please see full terms of use and disclaimers on the HempWireNews website applicable to all content provided by HNW, wherever published or re-published: https://www.HempWireNews.com/Disclaimer

Do you have a questions or are you interested in working with HWN? Ask our Editor

HempWireNews (HWN)
Denver, Colorado
www.HempWireNews.com
303.498.7722 Office
Editor@HempWire.net

HempWireNews is part of the InvestorBrandNetwork.

420 with CNW – DEA Puts Final Touches to 2020 Marijuana Cultivation Plans

The Drug Enforcement Administration’s (DEA) plans for authorizing the cultivation of 3.2 million grams of marijuana for research purposes in the 2020 planting season has been finalized. The 3.2 million grams is a 30% increase from 2019.

In September, the DEA published a notice in the Federal Register which proposed the 3.2 million grams production of weed. The final notice to be released includes the sentiments of the people collected during the public comment period, which were from the health care providers, the general public, and state and federal officials.

Most of the comments focused on the proposed reduction of opioid production by the DEA, citing that this could result in a shortage in the prescription, which could impact the patients negatively.

However, the DEA still decreased production quotas for certain opioids such as oxymorphone and oxycodone. The initial production of Oxycodone was 72, 593,983 grams, but the DEA reduced the final quota to 67,593,983 grams.

The marijuana production quota did not change at the end of the public comment timeline.

According to the DEA, the quota represents the estimated medical, scientific, study, and industrial needs of the U.S. for legal export requirements, and the establishment and preservation of reserve stock. The DEA further said that there has been an increase in demand for research-grade cannabis, and more states are legalizing marijuana for medical or adult-use purposes.

In the initial notice, compared to 2017, the number of agencies registered with the DEA to conduct marijuana research or on its derivatives, extracts, and THC has increased by 40% in 2019. In 2017, the number of registered agencies was 384, and by January 2019, the number had risen to 542.

Despite the increase in the marijuana production quota and the number of registered researchers, there is only one marijuana cultivation facility that is authorized by the federal government, the University of Mississippi farm. Three years have passed since the DEA said that it would approve additional manufacturers of research marijuana, but it is yet to take action.

This summer, scientists filed a lawsuit against the DEA, arguing that it is using delaying tactics and failing to fulfill its duties of approving more than 24 applications for federally approved marijuana growers.

In August, the DEA made an announcement saying that due to the overwhelming number of applications, the agency had developed alternative regulations for processing the applications. This resulted in the dismissal of the lawsuit before the federal court since the agency was taking the necessary measures to resolve the issue brought before court.

Researchers and legislators also said that the University of Mississippi farm does not have all the marijuana products being traded on the market. Some of the marijuana contains lower levels of THC and other cannabinoids, which undermines the quality of the studies.

According to one study, the chemical composition of marijuana from federal farms was closer to that of hemp than of other marijuana available on the market, and this made it more urgent to license additional producers for research-grade marijuana.

Industry watchers are certain that marijuana companies, such as Youngevity International Inc. (NASDAQ: YGYI) and Willow Biosciences Inc. (CSE: WLLW) (OTCQB: CANSF), may have preferred that the federal agency announces additional producers so that the larger production quota can avail the quality of marijuana needed by researchers.

About CNW420

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

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Massachusetts Consumers Buy Legal Marijuana Worth $393 Million in First Year

It has been a year since Massachusetts started selling recreational marijuana, and although the state was not in a hurry to speed up the matter, the public was interested as they rushed to the retail stores immediately after the sale began.

It took long to legalize adult-use marijuana in the state, but in November of 2016, the citizens legalized recreational cannabis through the ballot. In 2017, Massachusetts governor, Charlie Baker, signed legislation that changed the rules governing weed, pushing the sales of recreational marijuana back by six months. After overcoming several other hiccups, the Cannabis Control Commission (CCC) passed the most significant regulations in March of 2018. The state only had four retail outlets licensed to sell marijuana by October 2018, and only two were operable during the launch of marijuana sales.

In 2017, the Department of Revenue in Massachusetts estimated that for the 2019 fiscal year, the state would be able to collect marijuana tax revenue ranging between $44 million and $82 million. The DOR made the estimates hoping the state would be having a reasonable number of retail marijuana outlets, which didn’t happen on the first day of legal sales.

However, the program started well since, in the first five days of the sale, customers spent $2.2 million, and on the first day alone, the retail outlets sold 56,380 units at an average price of $39.33 per item. The total sales for that day amounted to $440,000.

In 2019, the state of Massachusetts has reported gross marijuana sales of $393.7 million from the records of 33 licensed retail outlets. Although the demand for adult-use marijuana is high, the supply is low because the number of licensed cultivators in Massachusetts is not enough to service all the dispensaries. The licensing process for cultivation licenses is slow, and there are only two testing facilities in the state, causing additional problems for the dispensaries.

The CEO of AmeriCann, Tim Keogh, said that the company recognized Massachusett’s potential in becoming one of the top players in the marijuana market several years back. Keogh further noted that his company expects a significant contribution to the marijuana industry. He also said that they have completed the construction of the Cannabis Center Development, which is a cultivation and processing facility standing on a 30,000-square foot plot. The facility will be wholly occupied by Bask, Inc., which an existing vertically integrated marijuana operator in the state.

The CCC chairman Steve J. Hoffman commended retailers and consumers of marijuana for participating in the launch of adult-use legal sales in the state. He further said that he was proud of the marijuana businesses for working together with the commission to obtain and maintain compliance with the state’s regulations. The state is in the process of approving an additional 54 retail licenses once the commission is through with inspection and compliance protocols.

The senior analyst in Canaccord Genuity, Bobby Burleson, said that the rollout was slower than was expected. He further said that the state is planning on approving more operator licenses and additional dispensaries in Brookline and Newton. By the end of 2019, the sales are expected to increase to $600 million, and by 2020, the DOR estimates that the sales would be more than $1.2 billion. The state is yet to report the amount of revenue generated in the first year of recreational marijuana sales.

Analysts are of the view that industry players like MCTC Holdings Inc. (OTC: MCTC) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) who see these sales statistics will view them as highly encouraging for the sector given the stuttering start to the adult-use market.

About CNW420

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

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.