Category: CannabisNewsWire Release

420 with CNW – Group Plans 2020 Ballot Measure to Legalize Recreational Cannabis in Montana

Coalition406, a new group in Montana, is planning to formulate a ballot measure so that residents can decide whether recreational marijuana should be legalized in the state during the 2020 elections.

In recent years, efforts to legalize adult-use marijuana have attracted growing support in the population. This support is buoyed by the increasing number of states that are either in the process or have already legalized recreational marijuana.

A poll conducted in February this year by researchers from the University of Montana found that 51 percent of all voters in the state support recreational cannabis legalization.

Coalition406 strongly believes that once recreational cannabis is legalized, thousands of people will be employed in the industry and the state will collect revenues that can help to fund education, healthcare and infrastructure projects.

Ted Dick, a campaign manager for Coalition406, announced that the group would sponsor a listening tour throughout the state in order to gather views from people regarding the plan to legalize recreational marijuana. “We want to hear from real Montanans,” he added.

Ted Dick isn’t new on the political landscape of Montana. Previously, he worked as the Executive Director of the Democratic Party in Montana. He therefore brings extensive experience in politics to this initiative to see recreational marijuana legalized.

If the initiative is to make its way onto the ballot in November 2020, at least 25,468 signatures of registered voters will have to be collected after the initiate gets the nod to proceed to the step of gathering signatures.

If the University of Montana poll is indicative of people’s current views in the state, Coalition406 will have to do a lot of work to convince more people to support the measure since the opinion poll shows that legalization currently enjoys a slim majority which can be swayed by those opposed to legalization.

Events in other states which have tried to legalize recreational marijuana also show that the objective is often easier to attain through a ballot than through legislative means.

For example, a law legalizing recreational marijuana was almost a foregone conclusion until voting on the bill was postponed after legislative leaders realized that not enough support existed in the New Jersey senate.

Similarly, the state budget was presented in New York State without including recreational marijuana, and that has cast doubt over plans to legalize recreational marijuana there during this legislative session.

Ballot measures therefore appear to be a better approach to take since the people are often ahead of their elected representatives in terms of voicing what they want. For this reason, VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) applaud Coalition406 for taking the initiative to involve voters directly in matters of legalizing recreational cannabis in Montana.

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 – Epileptic Dogs Get Fewer Seizures When Given CBD Oil, Study Finds

A new study whose results were published in the journal Pet Behavior Science indicates that dogs with epilepsy have less frequent seizures if treated using CBD oil.

The study was small because it only followed three dogs over a period of two months while those dogs were treated with CBD oil. The research suggests that dogs respond to cannabis treatment in the same way that humans do.

The age and breed of the dogs studied varied. For example, one dog was a Labrador Retriever aged 3. This dog used to suffer an average of one epileptic seizure every month. A Papillion (aged 11) was also in the study. This particular dog suffered seizures every 2 or 3 months. The third dog was a Chihuahua aged 10. It usually suffered about two seizures every year.

During the study, the dogs were given CBD oil on an empty stomach twice each day. The findings released were based on the reports provided by the dog owners during the study period.

Two of those dog owners reported that their dogs improved during the time when they were given CBD oil. However, the owner of the Papillion reported that the dog didn’t exhibit any changes in its condition.

More specifically, the Labrador Retriever’s owner said that the dog barked less during the day and slept longer at night. The dog was also less excited when compared to other dogs that didn’t receive the CBD oil treatment. Overall, the owner was convinced that the dog improved after taking the CBD oil.

Similarly, the owner of the Chihuahua reported that the dog was less aggressive towards familiar people (the owner’s kids, for example) during the time when it was receiving CBD oil. The seizure-like behavior also reduced slightly during treatment.

The researchers revealed that it wasn’t clear whether CBD oil works in the same way to treat epilepsy in dogs as it does in humans. They opined that it is possible that by alleviating anxiety, CBD oil could reduce the frequency of epileptic seizures in both humans and dogs.

They called for more research to understand the neurobiological mechanisms through which CBD oil treatments triggered therapeutic effects.

There is a growing body of research showing that dogs can be treated effectively for various conditions using CBD oil. For example, one study last year found that CBD oil can trigger improvements in the symptoms of osteoarthritis in dogs.

Therma Bright, Inc. (TSX.V: THRM) (OTC: THRBF) and TransCanna Holdings Inc. (CSE: TCAN) urge all dog owners to use these research findings as a basis to talk to vets about alternative treatments for their dogs instead of being restricted to the conventional treatments alone.

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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Untapped Cannabis Market Offers Spectacular Growth Opportunities

CannabisNewsWire Editorial Coverage: The explosive growth recently seen in the cannabis industry presents a rare chance for savvy companies to profit in a virtually untapped market.

  • Legal marijuana market projected to reach $146.4 billion.
  • United States and Canada current epicenter of cannabis growth.
  • Brand recognition and retail reach imperative for market share.

The cannabis bonanza has created a rare window of opportunity for companies that are able to capture market share and create long-term success. Brand recognition and retail reach look to be key to obtaining these lucrative rewards. Shortly after posting its tenth consecutive quarter of increased revenues, Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN) (WLDFF Profile) announced intentions to further expand its footprint with the acquisition of premier licensed cannabis retailer, City Cannabis Corp. A finalized accretive acquisition will add significant revenues to Wildflower, providing access to several valuable cannabis licenses in lucrative premium locations. Other companies in the sector are also looking to grow in the market through a variety of promising ways. Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) announced it has entered into a binding letter agreement with Hempco Food and Fiber Inc. to acquire all of the issued and outstanding common shares of Hempco not already owned by Aurora. Green Thumb Industries Inc. (OTCQX: GTBIF) (CSE: GTII) has closed on the acquisition of Los Angeles-based For Success Holding Company, the creator of Beboe branded cannabis products. Acreage Holdings Inc. (OTCQX: ACRGF) (CSE: ACRG) announced that it has entered into a definitive arrangement agreement that grants Canopy Growth the right to acquire 100% of its shares. And as part of its strategy to become a multistate operator, Choom Holdings Inc. (OTCQB: CHOOF) (CSE: CHOO) (CHOOF Profile) has signed a letter of intent to purchase a 95% equity interest in a Florida-based vertically integrated cannabis applicant.

To view an infographic of this editorial, click here.

Extraordinary Market Development

The extraordinary development of the cannabis industry can be tied at least in part to a wave of public support that has turned into overwhelming acceptance. Fifteen years ago, only a third of Americans were in favor of federal legalization of marijuana. Today, an estimated two-thirds of Americans support legalization, up from only 54% two years ago. Among adults under age 35, a whopping 85% favor federal legalization. Public acceptance gained so much momentum so fast that the cannabis industry is struggling to meet the demand. As the cannabis industry and markets mature, acquisition and consolidation announcements have become almost daily occurrences.

The global legal marijuana market, valued at $9.3 billion in 2016, is expected to reach $146.4 billion by the end of 2025, an incredible 16-fold increase over nine years. Legal cannabis markets are still relatively new, and the market is nowhere near its total sales potential. An estimated 272 million global consumers use cannabis, equivalent to only about 4% of the world’s population. Staggering increases in those numbers appear to be all but certain. Perhaps nowhere is this hyper-growth more spectacular than North America. Wall Street’s top cannabis analyst forecasts the U.S. market to grow to $80 billion by 2030 assuming national availability.

Center for Growth

Cannabis demand is even greater north of the border. The industry has been facing cannabis supply shortages ever since recreational cannabis was legalized across Canada. For example, the cannabis market in country’s westernmost province, British Columbia, registered slightly over CA$19 million in legal cannabis sales in 2018, but that number is projected expected to explode to CA$722 million in annual sales in the next five years by — a mind-boggling 37-fold increase over six years.

Pegged to soar nearly 3,700% by 2024, British Columbia is an ideal center for cannabis growth. Headquartered in the heart of this upsurge, Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN) has already staked out an enviable market position and is further expanding its retail footprint and product distribution in the province. The company announced that it intends to acquire City Cannabis Corp. in an all-stock deal.

Holding two of the three City of Vancouver licenses to sell cannabis, City Cannabis is a premier cannabis retailer and the only company with multiple licenses in British Columbia. The Letter of Intent looks to solidify Wildflower’s position as a high-profile retail outlet of premium brands generating millions in revenues right in the heart of the B.C. cannabis boom.

“City Cannabis and Wildflower are the perfect combination of premier products and a premier consumer retail experience,” said Wildflower CEO William MacLean. “City Cannabis’ retail consumer data and insight will help shape development of Wildflower’s product line-up while the retail expertise of City Cannabis will aid Wildflower in its retail expansion. The combination of Wildflower and City Cannabis will form a truly global cannabis company.”

First established in British Columbia in 2012, Wildflower now has a retail reach that extends from Vancouver to New York. Wildflower Brands is constantly expanding development, design, marketing and retail distribution of its branded products in the cannabis sector. The company launched into Washington State in 2016 and has seen consistent growth ever since.

Creating a Global Brand

Today Wildflower markets its distinctive CBD+ products to more than 300 retailers in the health and wellness sector and operates in regulated cannabis markets throughout North America in accordance with jurisdictional regulations for THC and CBD+ products. Wildflower’s unique and holistic products are developed and manufactured at the company’s U.S.-based GMP facilities, tested by a third-party lab and backed by a 100%-satisfaction guarantee.

Each Wildflower product is synergistically formulated to create a unified global wellness brand. For example, Wildflower’s highly recognized Wildflower Wellness brand offers a broad array of hemp-based, full-spectrum, CBD-infused products from vaporizers and capsules to tinctures, soaps and topicals.

The company’s King Recharge is on the cutting edge of cannabis technology and delivery systems with its King Extracts, a sleek, rechargeable vaporizer offering five popular CBD strains and a unique pocket-sized charging and storage case.

Closely associated with select hospital oncology departments, Exclusive is Wildflower’s Los Angeles-based dispensary of premium cannabis products. Wildflower already owns 14 cannabis licenses in California for recreational and medical cannabis cultivation, manufacturing, distribution, retail and delivery. Activating all these licenses could be a jackpot for the company, driving revenues while minimizing risk.

Expansion into Canada with the acquisition of City Cannabis is the next step in Wildflower’s global strategy. The thriving retail outlet, with licenses for several more locations, provides Wildflower with a high-profile presence in what may be one of the greatest growth markets in the world. Wildflower plans to market its enormously successful products through the outlet and launch into the over-the-counter market with its CBD formulations and accessories.

An Expanding Footprint

Wildflower’s U.S. presence now encompasses more than 200 retailers in Washington state and more than 20 retailers in New York City. The company partnered with Retail Worx to establish shop-in-shop retail locations in the nucleus of New York and open its first Wildflower by Bridges General store.

A clear next move for Wildflower in this partnership is a rollout into other Bridges General’s stores in New York City and San Francisco. Retail distribution in other major U.S. markets includes over 80 wellness and healthcare practitioners and an army of retail stores nationwide numbering in the hundreds. Wildflower is aggressively expanding both brand recognition and retail reach.

Wildflower continues to capture increasing market share with innovation, retail expansion and a growing family of popular brands. The company’s strategic partnerships, acquisitions and organic growth are all strengthened by the company’s focus on creating loyal consumers.

Grabbing national and celebrity attention, Wildflower used ingenious product placement during the 2019 Oscars by including its CBD+ Healing Stick in each of the gift bags of the stars, and Hollywood is embracing the product.

But Wildflower didn’t just aim for the stars. Wildflower launched an infomercial campaign in Phoenix promoting the company’s Wellness’ Cool Stick. And across the country, the company has employed an innovative pop-up store technique in SoHo, New York, to introduce its Wildflower Wellness products. To make this happen, Wildflower identified a compatible high-profile retail venue and struck a deal with the outlet, then marketed its products with fanfare in the upscale establishment for a limited time period, raising market uptake and visibility.

Clearly Wildflower seems to be on a mission to create a global cannabis enterprise. With such rapid expansion of brand recognition and retail distribution, Wildflower is firmly establishing its hold on the cannabis bonanza.

Buying Up Cannabis

And Wildflower isn’t alone in focusing on the booming cannabis business. Several market leaders have announced recent moves designed to strengthen their positions in the sector.

With its acquisition of the remaining common shares of Hempco, Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) gains low-cost, high-volume access to hemp for the extraction of CBD, a component that has been recognized for its therapeutic benefits across a wide range of medical indications and wellness applications. Aurora recognized this potential early, investing in Hempco as early as 2017. The company subsequently expanded its hemp-based infrastructure through the acquisitions of Agropro, Borela and ICC Labs.

By acquiring the Beboe product line, Green Thumb Industries Inc. (OTCQX: GTBIF) (CSE: GTII) reinforces its commitment to provide nationwide access to safe and effective cannabis. “The meticulously crafted suite of Beboe products supports the premium segment within GTI’s brand portfolio and is firmly aligned with our long-term growth strategy,” said GTI founder and CEO Ben Kovler. “Beboe has an extremely talented team, a robust innovation pipeline, an aligned vision on the future of cannabis and a ground-breaking partnership with Barneys New York. We are thrilled to have the visionary Beboe team officially on board with GTI.”

Acreage Holdings Inc.’s (OTCQX: ACRGF) CSE: ACRG) agreement with Canopy Growth gives CGC the right to acquire 100% of the shares of Acreage, with a requirement to do so when cannabis production and sale becomes federally legal in the United States. “From the first day we created our company, providing exceptional customer care and delivering shareholder value have been our top priorities,” said Acreage Holdings chairman, CEO and president Kevin Murphy. “This transaction will help accomplish both. When the right is exercised, having access to Canopy Growth’s deep resources will enable us to innovate, develop and distribute quality cannabis brands across the U.S. and continue expanding our U.S. footprint. At the same time, a confluence of factors is making it much more difficult for a multi-state operator to achieve its full potential, including the enormous amount of cash required to scale. Our Board of Directors, management team and I are pleased to deliver significantly increased liquidity to our shareholders and put ourselves in an even stronger position to deliver continued and significant upside.”

An emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, Choom Holdings Inc. (OTCQB: CHOOF) (CSE: CHOO) is looking to expand into Florida. The cannabis applicant at the heart of the company’s equity interest agreement is progressing on its master license application to operate up to 25 retail locations as well as a microprocessing and cultivation facility for medical purposes. Upon completion of the transaction, Choom will use its medical brand, Clarity Medical Centres, to create a network of branded medical marijuana treatment centers.

Some have called what is happening now in the cannabis sector a once-in-a-generation opportunity and predict that this is the start of a decade-long cannabis bull market. All indications point to those predictions being correct.

For more information on Wildflower Brands, visit Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF)

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420 with CNW – Texas Lawmakers to Vote on Cannabis Decriminalization This Week

About a month ago, the Texas House Jurisprudence Committee passed a bill that would make low-level cannabis possession a crime punishable by a fine rather than jail time. That bill is now before the House and it will be voted on this week (Thursday).

If the bill becomes law, anyone found in possession of an ounce or less of marijuana would pay a fine of $250. Such a crime would then become a Class C misdemeanor if one is caught more than twice.

Under the current law, anyone who is found with two ounces or less of marijuana can be fined a maximum of $2,000 as well as serve 180 days in jail. Whether one pays the fine or goes to jail, they remain with a permanent criminal record that can affect them for life.

While Texas is known for being conservative, there is growing consensus that cannabis laws need to be reformed, and that is why the decriminalization bill has bipartisan support. People want to see the meager public resources devoted to more serious crimes instead of using those resources to prosecute people for minor cannabis possession infractions.

This change of heart among conservative Texans has seen various bills get House Committee approval. The decriminalization bill is one of the three most notable cannabis reform bills.

The second bill that passed at committee level is a bill to legalize industrial hemp and its derivatives. This bill was passed on Tuesday this week. If it becomes law, hemp would no longer be a controlled substance in the state.

A third bill seeks to expand the medical marijuana program in the state. This bill got unanimous support when a vote was called last week. One of the changes introduced by this bill included adding more than a dozen health conditions to the list of medical marijuana qualifying conditions.

All these three bills were supported by the Republicans in those different committees. Gov. Greg Abbott, a Republican, has also promised to sign the bills once they reach his desk after getting legislative approval.

This piecemeal way of easing marijuana laws may eventually culminate in the legalization of recreational marijuana in Texas, although the Republican Party hasn’t explicitly stated that it supports legalization in the state.

Cannabis Strategic Ventures Inc. (OTC: NUGS), Youngevity International Inc. (NASDAQ: YGYI) and the entire cannabis industry welcome the incremental cannabis policy reforms being instituted in Texas. Such an approach ensures that there will be minimal friction in implementing the changes needed for Texans to benefit fully from the cannabis industry.

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 Looks for Financial Institution to Handle Medical Cannabis Money

The Treasurer’s Office in West Virginia plans to issue a request for proposals (RFP) by the end of next month (May 2019) inviting interested financial institutions to submit their proposals for handling the money generated by the state from the medical cannabis industry.

These funds will include license fees, fines, taxes and other revenues accruing from medical marijuana.

Earlier this year, the legislature passed a law to expand the scope of the types of financial institutions that could express interest in handling this money from medical marijuana. Credit unions and other non-traditional banking companies are now eligible to apply.

It should be noted that the traditional financial institutions, such as banks, have been reluctant to handle any marijuana money because they fear being caught in the middle of the divergent state and federal marijuana laws.

Currently, the RFP is being reviewed by a legal team and it will be released once the any legal kinks found are sorted.

Meanwhile, the Office of Medical Cannabis is moving ahead with its plans to get ready for implementing the medical marijuana program. They would like everything to be good to go so that once a financial institution is hired, the implementation plan can start being acted upon.

For example, the process of hiring staff (cannabis inspectors, for example) has already started and will be scaled up basing on how many entities express interest and are cleared to participate in the medical cannabis industry.

The Medical Cannabis Act, which was signed into law in 2017, provides for 10 medical cannabis cultivation licenses, 10 permits for medical cannabis processing and 30 permits for cannabis dispensing.

The law also stipulates that no single entity will be given a permit to grow or process cannabis, and another permit to dispense medical cannabis. However, companies can be both growers and processors.

The Medical Cannabis Advisory Board, the entity which spearheaded the preliminary work of establishing the medical cannabis program, visited several states in order to learn how best to design West Virginia’s program. While best practices where picked from different places, the final look of West Virginia’s medical marijuana program resembles the program established in Pennsylvania.

The original plan was to start accepting license applications on July 1, but it seems this deadline will not be met. The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF), The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) and the entire cannabis industry hopes that patients in West Virginia will not have to wait for an unnecessarily long time before they can access medical cannabis to ease their symptoms.

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 – Maine Releases Recreational Marijuana Draft Rules

Ever since voters in Maine approved a ballot measure to legalize recreational marijuana in 2016, the state had never formulated rules to regulate the commercialization of adult-use cannabis even if residents were allowed to grow a limited number of cannabis plants soon after the midterm vote that paved the way for recreational marijuana. Two years later, the state has released its draft rules indicating how the recreational market will be regulated.

The draft rules indicate that applicants will first have to obtain a conditional license from the state before getting the approval of the town or city where the applicants wish to operate their recreational marijuana businesses. Once the local authority approves, then the state will give the applicant a license that is valid for 12 months.

According to the draft rules, the state will take approximately 90 days before giving applicants the conditional license (the first step of the licensing process). During that time, the state will look into the criminal background of the applicant as well as any other needed checks before the applicant is given the conditional license.

However, the biggest hurdle that applicants may have to navigate is the different conditions that local authorities (towns and cities) will impose before one obtains their approval. Some local jurisdictions have already formulated their own recreational cannabis rules while others are holding out until the state releases their final rules. The local authorities will then analyze those state rules and decide whether recreational marijuana will be allowed within their jurisdictions or not.

The draft rules released by the state indicate that any local authority that doesn’t pass its own recreational marijuana rules will remain cannabis-free since their non-action will be deemed as a lack of interest in having recreational marijuana businesses within their jurisdiction.

It is also worth noting that the draft rules restrict the ownership of recreational cannabis businesses within Maine to residents of the state. Corporate veils to sidestep this requirement are strictly prohibited.

In fact, the rules state that from June 2021, only residents who have filed their tax returns in Maine for at least 4 years will be eligible for marijuana business licenses. The ballot measure that legalized recreational marijuana had stated that medical cannabis businesses would be given first priority when issuing recreational cannabis licenses.

However, that provision was changed legislatively so that the emphasis could be placed on being a resident of the state. This change was intended to ensure that Mainers benefited from this industry.

The draft rules go deeper into the specific conditions that one must fulfill in order to obtain a cultivation, product manufacturing and retail license. Rules governing product testing will be released later, and they will not need legislative approval.

The current draft rules are now open to public comment and the state hopes to start receiving applications later this year if the legislators can approve the draft rules before the summer break of the legislature commences.

Sugarmade, Inc. (OTCQB: SGMD) and Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) hope that the long-awaited draft rules will be processed quickly so that Maine can enjoy the benefits of commercializing recreational 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.

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420 with CNW – Cannabis Legalization Not Linked to Increased Traffic Fatalities, Study Finds

According to a new study whose findings were released this month, there is no link between the legalization of marijuana and an increase in traffic deaths. This conclusion was arrived at by Andrew Young, a graduate student at Kansas State University after he analyzed traffic deaths data covering 23 years.

Young used two different statistical models to assess how the change in cannabis policy and laws in different states has impacted road safety.

The researcher concluded that the legalization of marijuana isn’t a significant predictor of fatalities on roads. This means that statistically, there is no proof that cannabis legalization leads to either an increase or decrease in the rate of traffic deaths. The data collected was analyzed based on every 100,000 miles traveled on the roads in the states studied.

For the states selected, the data of interest was taken from 5 years before cannabis was legalized either for medical or adult-use, and that data was compared to the data available on road fatalities in those same states after cannabis became legal. Controls (states where cannabis is illegal) were also included in the study. No trends emerged from the data analysis.

For example, the average number of traffic deaths in Arizona weren’t any different from the fatalities recorded in South Dakota and Wyoming where marijuana is illegal.

Similarly, traffic deaths started dropping in Washington just before medical marijuana was legalized, and they kept dropping long after legalization. Interestingly, traffic fatalities in Washington were lower than those in Virginia and Utah where cannabis remains prohibited.

Such concrete observations led the researcher to conclude that the recent rise in the rate of traffic deaths across the U.S. isn’t because marijuana has been legalized in more states in recent years.

The research findings also prove that policy makers who oppose cannabis legalization on the basis that traffic fatalities will increase have no justification to have such fears.

While this study hasn’t yet been published in a peer-reviewed journal, some concerns have been raised about the small sample size of the states where cannabis is legal for recreational use. Can such a small number provide data that is representative of the whole country, they wonder.

Nonetheless, Young’s findings can be regarded as highly credible because they are no different from previous research that hasn’t found any link between marijuana legalization and spikes in road accident fatalities.

SinglePoint, Inc. (OTCQB: SING) and Sproutly Canada, Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) are glad that independent scientific data is coming to light to dispel the myth that legalizing marijuana triggers a rise in traffic deaths.

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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The Cannabis Bonanza Has Just Begun

CannabisNewsWire Editorial Coverage: The cannabis industry presents a rare opportunity to profit from spectacular growth in a virtually untapped market.

  • Legal marijuana market projected to reach $146.4 billion.
  • United States and Canada current epicenter of cannabis growth.
  • Brand recognition and retail reach imperative for market share.

Capturing market share and creating long-term success in this explosive market will require brand recognition and retail reach. Shortly after posting its tenth consecutive quarter of increased revenues, Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN) (WLDFF Profile) announced intentions to further expand its footprint with the acquisition of premier licensed cannabis retailer, City Cannabis Corp. A finalized accretive acquisition will add significant revenues to Wildflower, providing access to several valuable cannabis licenses in lucrative premium locations. Other companies in the sector are looking to grow in the market through other promising ways. Tilray Inc. (NASDAQ: TLRY) recently acquired Natura Naturals Holdings, boosting capacity to supply cannabis products across Canada. Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) bought hemp company AgriNextUSA to accelerate entry into key American jurisdictions. Medmen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN) announced the purchase of two vertically integrated operations, which include retail locations and 25,000 square feet of cultivation and production capacity. And only two weeks ago, Curaleaf Holdings Inc. (OTCQX: CURLF) (CSE: CURA) completed the acquisition of Eureka to provide access to California’s wholesale market through a large greenhouse facility.

To view an infographic of this editorial, click here.

Market Frenzy

The sweeping growth of the cannabis industry is rooted at least in part from a groundswell of public support that has turned into a tidal wave of acceptance. Fifteen years ago, only a third of Americans supported federal legalization of marijuana. About two-thirds of Americans now support legalization, up from only 54% two years ago. Among adults under age 35, a whopping 85% favor federal legalization. The movement gained so much momentum so fast that the industry is scrambling to keep up. As the cannabis industry and markets mature, acquisition and consolidation deals appear to be all but certain.

The global legal marijuana market, valued at $9.3 billion in 2016, is expected to reach $146.4 billion by the end of 2025, an incredible 16-fold increase over nine years. Legal cannabis markets are still a relatively new phenomenon, and the market is nowhere near its total sales potential. An estimated 272 million global consumers use cannabis, equivalent to only about 4% of the world’s population. Growth trajectory is virtually vertical. Perhaps nowhere is this hyper-growth more spectacular than North America. Wall Street’s top cannabis analyst forecasts the U.S. market to grow to $80 billion by 2030 assuming national availability.

B.C. Center of Boom

Cannabis demand is even greater north of the border. The industry has been struggling with cannabis supply shortages ever since recreational cannabis was legalized across Canada. The country’s westernmost province, British Columbia, is no exception. The B.C. market registered a little over CA$19 million in legal cannabis sales in 2018, but that number is expected to explode to CA$722 million in annual sales by 2024 — a mind-boggling 37-fold increase over six years.

Pegged to soar nearly 3,700% in the next six years, British Columbia is ground zero for cannabis growth. Headquartered at the epicenter of this upsurge, Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN) has already staked out an enviable market position and is further expanding its retail footprint and product distribution in the province. The company recently announced that it intends to acquire City Cannabis Corp. in an all-stock deal.

Holding two of the three City of Vancouver licenses to sell cannabis, City Cannabis is a premier cannabis retailer and the only company with multiple licenses in British Columbia. The Letter of Intent looks to solidify Wildflower’s position as a high-profile retail outlet of premium brands generating millions in revenues right in the heart of the B.C. cannabis boom.

“City Cannabis and Wildflower are the perfect combination of premier products and a premier consumer retail experience,” said Wildflower CEO William MacLean. “City Cannabis’ retail consumer data and insight will help shape development of Wildflower’s product line-up while the retail expertise of City Cannabis will aid Wildflower in its retail expansion. The combination of Wildflower and City Cannabis will form a truly global cannabis company.”

Born in British Columbia, Wildflower now has a retail reach that extends from Vancouver to Los Angeles and New York. Established in 2012, Wildflower Brands is constantly expanding development, design, marketing and retail distribution of its branded products in the cannabis sector. The company launched into Washington State in 2016 and has been on a tear ever since.

Creating a Global Brand

Today Wildflower now markets its distinctive CBD+ products to more than 300 retailers in the health and wellness space and operates in regulated cannabis markets throughout North America in accordance with jurisdictional regulations for THC and CBD+ products. Wildflower’s unique and holistic products are developed and manufactured at the company’s U.S.-based GMP facilities, tested by a third-party lab and backed by a 100%-satisfaction guarantee.

Each Wildflower product is synergistically formulated to create a unified global wellness brand. For example, Wildflower’s highly recognized Wildflower Wellness brand offers a broad array of hemp-based, full-spectrum, CBD-infused products from vaporizers and capsules to tinctures, soaps and topicals.

The company’s King Recharge is on the cutting edge of cannabis technology and delivery systems with its King Extracts, a sleek, rechargeable vaporizer offering five popular CBD strains and a unique pocket-sized charging and storage case.

Closely associated with select hospital oncology departments, Exclusive is Wildflower’s Los Angeles-based dispensary of premium cannabis products. Wildflower already owns 14 cannabis licenses in California for recreational and medical cannabis cultivation, manufacturing, distribution, retail and delivery. Activating all these licenses could be a jackpot for the company, driving revenues while minimizing risk.

Expansion into Canada with the acquisition of City Cannabis is the next step in Wildflower’s global strategy. The thriving retail outlet, with licenses for several more locations, provides Wildflower with a high-profile presence in what may be one of the greatest growth markets in the world. Wildflower plans to market its enormously successful products through the outlet and launch into the over-the-counter market with its CBD formulations and accessories.

An Expanding Footprint

Wildflower’s U.S. footprint currently encompasses more than 200 retailers in Washington state and more than 20 retailers in New York City. The company partnered with Retail Worx to establish shop-in-shop retail locations in the nucleus of New York and open its first Wildflower by Bridges General store.

The obvious next step for Wildflower in this partnership is a rollout into other Bridges General’s stores in New York City and San Francisco. Retail distribution in other major U.S. markets includes over 80 wellness and healthcare practitioners and an army of retail stores nationwide numbering more than 300. Wildflower is aggressively expanding both brand recognition and retail reach.

Wildflower continues to capture ever-greater market share with innovation, retail expansion and its growing family of popular brands. The company’s strategic partnerships, acquisitions and organic growth are all bolstered by the company’s marketing genius focused on locking in loyal consumers.

Grabbing national and celebrity attention, Wildflower used ingenious product placement during the 2019 Oscars by including its CBD+ Healing Stick in each of the gift bags of the stars, and Hollywood is embracing the product.

But Wildflower didn’t stop with the stars. To expand exposure into a new target audience, Wildflower launched an infomercial campaign in Phoenix promoting the company’s Wellness’ Cool Stick. And across the country, the company has employed an innovative pop-up store technique in SoHo, New York, to introduce its Wildflower Wellness products. To make this happen, Wildflower identified a compatible high-profile retail venue and struck a deal with the outlet, then marketed its products with fanfare in the upscale establishment for a limited time period, raising market uptake and visibility.

Wildflower is on a mission to create a global cannabis enterprise. With such rapid expansion of brand recognition and retail distribution, Wildflower is carving out its slice of the cannabis bonanza.

Buying Up Cannabis

And Wildflower isn’t alone in focusing on the booming cannabis business. Several market leaders have announced recent moves designed to strengthen their positions in the sector.

Tilray Inc. (NASDAQ: TLRY), a global leader in cannabis research, cultivation and distribution, has announced the closing of a definitive agreement to acquire all of the issued and outstanding securities of Natura Naturals Holdings Inc., the parent company of a licensed cultivator of cannabis. The acquisition boosts the company’s capacity to supply cannabis products across Canada. Natura’s facility will be renamed High Park Gardens and be used as an additional cultivation facility to serve the medical and adult-use market in Canada.

Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) acquired AgriNextUSA. The acquisition will accelerate Canopy Growth’s entry into key American jurisdictions. “The United States is the next stop on Canopy Growth’s desired path to becoming a leading, revenue-generating company focused on all aspects of cannabinoids and their potential,” said Bruce Linton, co-CEO and Chairman of Canopy Growth.

Medmen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN) recently purchased two vertically integrated operations, which include both retail locations and 25,000 square feet of cultivation and production capacity. The company paid a combination of cash and stock valued at an aggregate of $33.5 million. With the closing of the acquisitions, MedMen will be licensed for three medical-use cannabis dispensaries in Arizona.

Curaleaf Holdings Inc. (OTCQX: CURLF) (CSE: CURA) completed the acquisition of Eureka, which operates a cultivation facility that is developing three dispensaries across California. Curaleaf has the largest footprint of single-branded retail stores in the United States. “The acquisition of Eureka cements our foundation in California and positions us well in the largest cannabis consumption market in the U.S.,” said Joseph Lusardi, CEO of Curaleaf.

Some have called the cannabis bonanza a once-in-a-generation opportunity and predict that this is simply the start of a decade-long cannabis bull market that’s only just begun. All indications suggest those predictions may be correct.

For more information on Wildflower Brands, visit Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF)

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420 with CNW – Nevada Dragged to Court Over the Issuance of Marijuana Licenses

The growing discontent among companies that weren’t selected to receive one of the marijuana business licenses issued by the State of Nevada has grown to an extent of lawsuits being filed against the tax department.

A dozen companies have gone to court and want the state to be stopped from issuing more licenses until court decides whether the selection process was “capricious and violated the state constitution.”

A total of six lawsuits have been filed, all alleging that no one knows what criteria was used by the state when selecting the cannabis companies to grant a license and which applications to reject.

The hearings against the tax department largely stem from the second round of marijuana business licenses issued in December 2018.

The plaintiffs claim that the tax department arbitrarily selected 61 out of 462 applications for the expansion of the available businesses in the cannabis industry which is now approximately two years old in the state.

The 61 licenses were given for new laboratory, cultivation, manufacturing and dispensing facilities. The complainants also add that the process to award licenses worth millions of dollars in the cannabis industry ought to be transparent enough so that those who won know why they did and those who lost can believe that they lost fair and square.

The cases filed are set to start being heard in the course of this week. These cases come at a time when the state senate has passed a proposal to compel the tax department to release into the public domain cannabis taxpayer information that has up to now been regarded as confidential.

This proposal is now headed to Nevada’s Assembly for consideration. Once the proposal is enacted into law, the names of all the companies that applied for licenses, and all those that were selected would be released.

Gov. Steve Sisolak also agrees that something should be done about the grumbling against the licensing process, so he supports the measure making its way through the legislative process. The Governor came into office last year in November.

He has been calling for the creation of a regulatory body like the Nevada Casino and Gaming Board for the cannabis industry. To this end, he has set up an advisory panel to study and advise him about the best way to form a Cannabis Compliance Board.

The cannabis industry has been booming from 2017 when the first recreational sales were made. For example, recreational sales totaled $425 million in 2017, and this figure shot up to $884 million in the final six months of 2018.

Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) can only ask that the misunderstandings about the licensing process should be cleared quickly so that all efforts can be concentrated on serving the people of Nevada.

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 – StatsCan Reveals that Cannabis Legalization Resulted in Canadian Weed Becoming More Expensive

Data released by Statistics Canada last week shows that after recreational cannabis was legalized in Canada on October 17, 2018, the price of legal marijuana increased by approximately 17 percent.

However, the Canadians who are buying pot from the licensed suppliers are paying about 57 percent more for the product when compared to those who are getting their weed from the black market.

Statistics Canada (StatsCan) arrived at these figures after collecting data from residents who were asked to volunteer information without any fear that they would be victimized for revealing their cannabis buying habits.

This creative approach helped StatsCan to get badly needed information about not just the legal cannabis market but most importantly the illegal market.

19,433 people volunteered information about their purchase of cannabis on the black market before recreational marijuana became legal in the country. The responses show that Canadians paid approximately $6.85 for each gram of cannabis on the black market.

After legalization, the average cost of a gram of marijuana increased to about $8.04. This is an increase of about 17.3 percent.

However, Statistics Canada cautions that their findings should not be wholly relied upon even if they cleaned the data and remained with only 936 responses from those that came in from the volunteers.

The Canadian official data collection agency says that the information could still suffer from statistical bias due to the limited number of responses and also because the responses were self-reported.

Smaller provinces and territories were particularly noted for the limited number of responses submitted. For example, just a handful of responses came in from Nunavut. In contrast, a disproportionately high number of responses were submitted from Quebec and Ontario.

Nevertheless, the data collected paints a believable picture of the Canadian marijuana industry. For example, the post-legalization average price of $8.04 for each gram of cannabis based on the data collected is a true reflection of the average cost of cannabis on the legal market and the black market combined.

Most importantly, the statistics show that the cannabis on the black market isn’t just more affordable, but its price is dropping fast. The data shows that the illegal weed cost $6.79 before marijuana legalization and it has now dropped to $6.37 a gram.

The data also shows that government-run marijuana retail stores were the most expensive with the average price being $10.73 for a gram of weed.

233 of the respondents admitted that they have continued to buy marijuana from the black market because the price of the legal stuff is too high for them. This provides some food for thought for the regulated marijuana market since the black market will continue to thrive if prices don’t reach affordable levels. U.S. states where recreational marijuana is legal can also learn from these findings and do some introspection about how to bring down the cost of cannabis on the regulated market.

Net Element, Inc. (NASDAQ: NETE) and Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) advise the cannabis industry to analyze the findings of Statistics Canada and use the information to make decisions that will take the legal cannabis industry forward.

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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