420 with CNW – Texas Inexplicably Halts Medical Cannabis Dispensary Licensing Process

The Texas Department of Public Safety suspended the permit application process for medical marijuana dispensaries without warning.

According to the Department of Compassionate Use Program website, the department is currently not accepting any applications. Initially, the state had said that the application process would remain open from October 1 to November 1.

This announcement was quite a shock to advocacy groups that were looking to see the implementation of the expanded medical cannabis program since the list of qualifying conditions was expanded by the legislature to include ALS (amyotrophic lateral sclerosis), terminal cancer, autism, and seizures disorders. Initially, medical marijuana was used to treat only people with intractable epilepsy who fulfilled certain requirements.

The Department of Public Safety in Texas did not explain as to why the permit application process was halted.

The agency spokesperson wrote in an email saying that as the department works through the recent changes in the legislature regarding the program, it is assessing the dispensing capacity of the current license holders while checking if there is a need for additional medical marijuana dispensary licenses.

During the period which the application was to be open (October-November), the number of companies applying for the license was expected to be high. In 2017, among the 43 applicants who applied for the preliminary permits, only three were accepted. This included Surterra Texas, Cansortium, Texas, and Compassionate Cultivation.

According to the executive director of Texas NORML, Jax Finkel, the termination of the application process was a letdown as many patients were looking forward to comparing prices for a better deal on the CBD products once the licenses were approved. More permits meant the patients would access medical marijuana affordably.

Finkel further said that medical marijuana is expensive, and many patients pay thousands of dollars out of their pocket for the drug since insurance and Medicare do not provide cover for marijuana products. Competition would be stiff after issuing additional licenses which would promote a drop in the price of CBD products.

Finkel added that it is alarming for the state to suspend the application process a week into the process without warning or communication to the doctors, patients and the general public.

On Wednesday, the state Assembly representative Stephanie Klick who led the last legislative session to expand the Compassionate Use Act, said that the suspension of the application process is probably a temporary delay.

Experts believe the cannabis industry, including actors like MustGrow Biologics Corp. (CSE: MGRO) and ChineseInvestors.com Inc. (OTCQB: CIIX), could be disturbed that a process to give patients more options has been derailed.

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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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CBDNewsBreaks – Earth Science Tech Inc. (ETST) Targets Emergent Biotechnology Cannabis Sector

Earth Science Tech (OTCQB: ETST) holds a robust portfolio of products targeting the largest segment of the rising legal cannabis market: biotechnology. An article discussing the company reads, “Earth Science Tech is well-positioned as a biotechnology company which focuses on the research and development of CBD, pharmaceuticals and medical device products. The company’s pure CBD oil is manufactured using CO2 liquid extraction processes; ETST prides itself on offering the finest quality pure CBD oil on the market. . . . The biotechnology segment of the cannabis industry consists of pharmaceutical firms focused on the research and development behind new drugs and products that utilize cannabinoids, which are the active compounds within cannabis. Currently the largest sector in the legal cannabis market, it is expected to see further growth as more entities around the world continue researching cannabinoids (http://cnw.fm/b5sGr). This trend is encouraging for biotechnology companies like Florida-based ETST.”

To view the full article, visit http://cnw.fm/QaZ2n

About Earth Science Tech Inc.

Earth Science Tech offers the highest purity and quality high-grade, full-spectrum cannabinoid oil on the market. ETST notes positive results in studies on breast cancer and immune cells conducted through the University of Central Oklahoma, in addition to studies through DV Biologics that prove the company’s CBD-oil formulation lowers cortisol and functions as a neuroprotectant, with positive-result case studies through key health organizations. ETST formulates, markets and distributes the CBD oil used for its studies to the public, offering the most-effective quality of CBD on the market. For more information, visit the company’s website at www.EarthScienceTech.com.

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

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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 – Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) Partners with John Legend & Casper Sleep for Nationwide Launch of CBD-Infused Gummies

Plus Products (CSE: PLUS) (OTCQB: PLPRF), a leading cannabis branded products company in the U.S., recently launched a line of 100% hemp, CBD-infused gummies nationwide. An article discussing the company reads, “To support the launch, PLUS has brand partnered with celebrity John Legend and Casper Sleep Inc. Legend will advocate on behalf of the line, while Casper Sleep will partner with PLUS to endorse the new CBD sleep gummies. ‘Like PLUS, we believe sleep is a key part of the wellness equation,’ Neil Parikh, co-founder and chief strategy officer at Casper, stated in a news release (http://cnw.fm/V2eqg). ‘Partnering with their team of experts to introduce CBD sleep gummies brings a new way to relax and rest to those who need it.’ . . . While CBD-focused companies have flooded the market, superstar John Legend was specifically attracted to PLUS Products. ‘I have been a believer in the benefits of CBD for some time,’ Legend added. ‘I was drawn to the PLUS team because they’re an innovative, family-run company, and they use science to deliver a consistent, high-quality product.’ Legend also expressed his appreciation for the ‘high standard’ PLUS has set in the industry.”

To view the full article, visit http://cnw.fm/rcy9I

About PLUS

PLUS Products 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 – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA with 80 employees. For more information, visit the company’s website at www.PlusProducts.com.

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420 with CNW – ACLU Sues County in Pennsylvania over Medical Marijuana

The American Civil Liberties Union is suing Lebanon County’s Court System and probation department over their decision that prevents the use of medical marijuana by people who are on parole.

According to ACLU, Lebanon is not the only county implementing this policy; other counties include Elk, Forest, Indiana. Lycoming, Potter, and Northampton. ACLU is hoping that the suit will have implications in all the counties.

The suit was formed in September when Lebanon County announced that people who are on probation would no longer be able to access medical marijuana treatment even if they have medical marijuana cards.

The state ACLU said that if those on probation are found to have marijuana in their system during their probation check-in, they will not be detained immediately but maybe found in violation of their parole.

Melissa Gass was using medical marijuana to manage her seizures while on probation. However, it is about a month since she stopped using medical marijuana after learning of the new policies barring people on parole from using the drug.

At an ACLU conference, she said that she had 20 drop seizures in a span of two weeks after she stopped using medical marijuana. She adds that sometimes she gets warning symptoms before falling to the ground. After she stopped using medical marijuana, she cannot be able to perform most chores and was prescribed a bunch of other medications such as benzos.

Because marijuana remains to a federally illegal drug; officials from Lebanon and other counties argued in favor of the ban on medical marijuana, said Vic Walczak, the ACLU Legal Director.

According to Walczak, this is violating state law.

He further argues that according to the medical marijuana law, no one is exempted from using the drug. Therefore, even though the judges are not in agreement with the medical marijuana law, or do not support any person using cannabis, they should let the law take its course by addressing the complaints in the suit.

Lebanon’s spokesperson did not respond to Walczak’s comment.

There are at least seven other counties who are also barring people on parole from using medical marijuana, Walczak said.

The suit was filed as a class-action in the commonwealth court, and the ACLU is pursuing a preliminary injunction based on the lawsuit.

According to his estimates, in Lebanon County alone, there are around 60 medical marijuana cardholders on probation who will be affected by the ban. Analysts think this lawsuit may be of interest to cannabis companies like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) since it touches on the right to access medical marijuana products by a section of the community.

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420 with CNW – Federal Report Shows More Banks Are Accepting Marijuana Businesses

According to a federal report, there is an increase in the number of banks and credit unions accepting to service marijuana businesses in the third quarter of 2019.

In the first quarter of 2019, there were 493 banks and 140 credit unions accepting marijuana businesses. In the second quarter, the number of banks and credit unions increased to 553 and 162, respectively. They submitted documents showing that they will be conducting business with legal marijuana businesses.

Accepting to conduct business with marijuana companies is viewed as a risky move in the financial sector because marijuana remains a federally controlled substance. However, the increase shows that banks are willing to take the risk as the lawmakers push to solve the issue of marijuana banking.

The Secure and Fair Enforcement Banking Act (SAFE) was approved before the end of the second quarter of 2019 by the House Financial Services Committee. The bill serves to protect financial institutions from being penalized for servicing marijuana businesses.

The bill was voted in by the whole House, therefore sending it directly to the Senate. Providing safe and secure banking services to the marijuana businesses will help mitigate risks associated with operating on a cash-only basis and promote transparency.

Hemp and its derivatives, which were legalized under the Farm Bill in 2018, have been denied access to services by the banks. However, Congressman Perlmutter is focused on ensuring that financial services are extended to hemp and CBD businesses. While in the House last month, the congressman urged the Treasury Department to provide legal hemp and CBD businesses with guidance.

In August, The Financial Crimes Enforcement Network released its latest update on the analysis of suspicious activity reports (SARs) that are filed per the 2014 cannabis banking guidance by the financial institutions under the Obama administration. The report showed that as of the second quarter of 2019, there was a total of 87,249 SARs related to marijuana businesses received by FinCEN.

The SARs were broken down into different types by FinCEN. 67,378 of the SARs were described as Marijuana limited, which referred to marijuana businesses that met the agency standards by complying with the laws of the state.

6,900 were referred to as marijuana priority, which means that the companies were not fully compliant with the state laws; thus, they would be investigated. Twenty-two thousand of the SARs were termed as marijuana termination, which meant that the businesses had violated at least one state regulation, which led to the termination of its relationship with the bank.

Analysts believe that marijuana companies like Green Hygienics Holdings Inc. (OTCQB: GRYN) and HTC Extraction Systems (TSX.V: HTC) hope that the Senate passes the SAFE Act so that this banking issue is solved once and for all.

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CBDNewsBreaks – Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) Advancing Toward Global Expansion Goal

Wildflower Brands (CSE: SUN) (OTCQB: WLDFF), a public cannabis company developing brands that focus on plant-based wellness and health products, is concentrating its efforts on being a worldwide supplier of CBD products for wellness and health. An article discussing the company reads, “Wildflower Brands is keen on expansion into the global marketplace with a view toward moving into the regions of the world where CBD products are not as legally restricted in terms of sales and distribution. An agreement has been signed to enter the European Union marketplace by way of Poland. The agreement with Polish firm Two Towers was signed in April 2019. Wildflower Brands Inc. has plans for further expansion and distribution into the Asian marketplace in the near future. . . . The company has expanded tremendously since first being founded in 2012 as a private company. It became a public company in 2014, and, since then, the company has increased in prominence and achieved rising profits. It is not surprising that Wildflower Brands is doing well, considering the steps the company takes in partnering with other businesses and the steps it takes to move into and invest in new distribution hubs and markets around the world.”

To view the full article, visit http://cnw.fm/5LVrm

About Wildflower Brands Inc.

Headquartered in Vancouver, Wildflower Brands is a company building reputable brands and quality products that incorporate the synergistic effects of plants and their extracts. For more information, visit the company’s website at www.WildflowerBrands.co.

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

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CBDNewsBreaks – HTC Extraction Systems (TSX.V: HTC) Creates Proprietary, Ethanol-Based Distillation System

Gas, liquids and biomass extractor and refiner HTC Extraction Systems (TSX.V: HTC), together with its subsidiaries, has developed a proprietary. ethanol-based distillation system called the Delta Purification System(R), which works with the company’s DeltaSolv(TM) technologies. An article discussing the company reads, “The condensed report, covering HTC Extraction Systems and its subsidiaries for the interim six-month period ended June 30, states that the company’s carbon-dioxide extraction business and material-handling operations drove revenues from $560,260 in 2018 to $1.85 million this year (http://cnw.fm/34WDf). . . .During that same period, the company’s total assets increased from $34.07 million to $35.29 million as HTC Extraction Systems built its strategy for extracting cannabidiol full-spectrum oil (‘CBD FSO’) from hemp biomass for distillation. The company and its subsidiaries believe that their patented Delta Purification System offers the best available environmental reclamation technology for the clean-energy-extraction and biomass-extraction industries. HTC has finalized a hemp-biomass tolling agreement that will result in the company processing an expected five million kilograms of identity-preserved, production hemp biomass, and it is completing negotiations to establish an identity-preserved, production-hemp-biomass tolling contract with a 60,000-acre, recognized Canadian farm leader and significant hemp-biomass producer to extract the CBD FSO. The company then plans to use the tolling fee payable under the tolling contracts in sales and offtake agreements with its related entity, Purely Canada Foods.”

To view the full article, visit http://cnw.fm/9Ibrl

About HTC Extraction Systems

HTC Extraction Systems has developed proprietary hemp-biomass, gas and liquid extraction systems that have been designed for the extraction of hemp biomass and the distillation and purification of ethanol and ethanol-based solvents used for this extraction. The HTC Extraction System(TM) has been engineered to reduce capital and operating costs while at the same time delivering superior performance by reducing energy usage, lowering emissions and improving the quality of the product being produced. For more information, visit the company’s website at www.HTCExtraction.com.

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CannabisNewsBreaks – IONIC Brands Corp. (CSE: IONC) (OTC: IONKF) (FRA: IB3) Reports Milestone Q2 Revenues, Completes Transformational Acquisitions

IONIC Brands (CSE: IONC) (OTC: IONKF) (FRA: IB3), a West Coast cannabis holding company specializing in the recreational adult-product market, recently reported second-quarter 2019 financial results, including a revenue milestone of $5.9 million (http://cnw.fm/8Ueu8). An article discussing the company reads, “‘We are very pleased with our second quarter financial results, achieving our focus of increasing sales growth while closing a successful financing for various strategic business acquisitions all in a span of three months,’ John Gorst, chairman and CEO of IONIC Brands, stated in a news release. . . . Several transformational acquisitions were recently completed, adding to IONIC’s multistate portfolio of award-winning cannabis brands, Gorst added. The purchase of Vegas Valley Growers North (‘VVG’), a Las Vegas-based, state-licensed cultivation and manufacturing firm for medical and recreational cannabis, brings to IONIC a vertically integrated, cash-flow positive opportunity for additional projected 2019 revenue of $6.6 million, as well as expected gross profits of $3.1 million and EBITDA of $2 million, the company stated in a news release (http://cnw.fm/sU4K7).”

To view the full article, visit http://cnw.fm/e2OwQ

About IONIC Brands Corp.

IONIC Brands is focused on building a multistate, consumer-focused, cannabis-concentrate brand portfolio focusing on the premium and luxury segments. The cornerstone brand of the portfolio, IONIC, is one of the top vaporizer brands in Washington State and has aggressively expanded throughout the West Coast of the United States. The brand is currently operating in Washington, Nevada, Oregon and California. IONIC Brands strategy is to be the leader of the highest-value segments of the cannabis market and expand nationally. For more information, visit the company’s website at www.IONIC.social.

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CBDNewsBreaks – Neutra Corp. (NTRR) Cancels Reverse Split Amidst Recent Positive Progress

Early-stage research and development company Neutra Corp. (OTCQB: NTRR) today announced that it has terminated a proposed reverse stock split. According to the update, the company will instead focus on several potential acquisitions, currently in discussions, designed to make Neutra a more vertically integrated company capable of competing in the skyrocketing cannabidiol (“CBD”) market. “We’ve made tremendous progress this year towards our long-term goals,” Neutra CEO Sydney Jim said in the news release. “We’ve added a prominent physician to help us enter the sports nutrition and medicine markets. With the recent VIVIS acquisition, Neutra has a well-known and respected retail subsidiary. Now, VIVIS has a hemp-based CBD sports cream nearing release. Thanks to this positive, forward progress and several acquisitions now in the works, Neutra believes terminating the reverse split is in the best interest of the Company and its shareholders.”

To view the full press release, visit http://cnw.fm/578lD

About Neutra Corp.

Neutra Corp. (NTRR) is an early-stage research and development company with a focus on bringing modern healthy living solutions to a multibillion-dollar market. Cutting-edge technologies within the nutraceuticals, food and drug, and environmental purification sectors are creating a new kind of world culture—one where in which consumers are demanding access to products that promote health and stave off potential health dangers. One of the nutraceutical sub-markets is the new thriving hemp-based CBD market, in which the Company intends to participate. For more information, visit the Company’s website at www.NeutraInc.com.

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

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HempNewsBreaks – SinglePoint, Inc. (SING) CEO Reflects on Successful NACS Trade Show on MoneyTV with Donald Baillargeon

Technology and investment company SinglePoint (OTCQB: SING) was featured on this week’s episode of MoneyTV with Donald Baillargeon. The internationally syndicated program covers money-focused topics, featuring various companies and in-depth CEO and executive interviews that offer insights into operations and future outlooks. MoneyTV is viewed in over 200 million households in more than 75 countries. This week’s program featured SinglePoint CEO Greg Lambrecht as he reflected on the company’s success at the 2019 National Association of Convenience Stores (“NACS”) trade show.

To view the full press release, visit http://cnw.fm/1mRsP

About SinglePoint, Inc.

SinglePoint, Inc. is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing 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 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.

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