420 with CNW — Two New Books Explore Marijuana’s Medical Powers

For those interested in exploring marijuana’s medical benefits, two recently published books —Josh Leddy’s “Living with Cannabis: A Personal Journey” and Dr. Benjamin Caplan’s “The Doctor-Approved Cannabis Handbook” — provide essential insights. The books offer both professional guidance and firsthand accounts, making them invaluable for anyone curious about cannabis’s therapeutic uses.

The book by Dr. Benjamin Caplan offers a thorough manual on medical marijuana use. Caplan, a board-certified family physician with experience treating more than 250,000 patients, reveals his in-depth understanding of the ways that cannabis can help with a range of ailments, including cancer, sleeplessness, cognitive decline and chronic pain. The book explores the science of cannabis, providing lucid descriptions of its workings, appropriate products and dosages.

Caplan highlights the value of guided cannabis therapy, which gives patients autonomy over their care regimens and enables individualized and efficient treatment. The guidebook, which has been recommended by both patients and industry professionals, is a vital tool for everyone considering using cannabis to enhance their health.

Melissa Etheridge, a cannabis activist and cancer survivor, gave high marks to the book. “As a cannabis supporter and cancer survivor, I am aware of the significant role that marijuana plays. Dr. Caplan’s latest book provides an abundance of knowledge along with a significant amount of empathy and understanding,” she said.

On the other hand, Leddy’s book offers a firsthand account of his experience using marijuana as a pain reliever without surgery. Leddy, an entrepreneur and athlete, tells his tale of using cannabis’ healing properties to overcome serious injuries and mental-health issues. The book provides helpful guidance on pain management without requiring invasive procedures or prescription drugs.

Leddy’s story is both intimate and educational, describing his struggles with severe pain and how marijuana changed his life. He highlights the emotional and physical health advantages of cannabis while offering readers tools and ways to manage their own pain and live better.

Together, these books present a well-rounded view of the medical uses of cannabis. They combine expert medical advice with real-life experiences, making them essential reads for anyone interested in the potential benefits of cannabis for health and wellness. Whether you are exploring cannabis for personal use or professional knowledge, “Living with Cannabis: A Personal Journey” and “The Doctor-Approved Cannabis Handbook” provide a wealth of information to help you understand and navigate the therapeutic use of cannabis effectively.

These publications are likely to increase public awareness about the therapeutic potential of the different medical cannabis products made by the numerous licensed companies such as Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED), and this could motivate more patients to try these products to ease their symptoms.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. 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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Golden Triangle Ventures Inc. (GTVH) Completes Acquisition of Time-Tested, Proven Shipping and Logistics Operation

Through acquisition, management has agreed to use 10% of the profits from logistics business to buy back and retire GTVH stock
“This transition marks a pivotal moment in our journey,” states exec
Management is crafting a comprehensive business plan that substantially expands the company’s growth trajectory

Golden Triangle Ventures (OTC: GTVH) continues to take strategic steps toward expanding and positioning the company for fundamental business income and financial independence. The latest in these steps is the completed acquisition of Cargo Management Group, a multifaceted logistics and trucking operation (https://cnw.fm/IjALN). According to the announcement, through this acquisition, management has agreed to use 10% of the profits from its logistics business to buy back and retire GTVH stock, effectively reducing the number of outstanding shares on a consistent basis as profits are realized. The buyback will commence once the full transition of the logistics business is complete and profits of the business can be realized.

A complete shipping, logistics and trucking operation, Cargo Management Group will be a key component in providing support for GTVH’s Lavish Entertainment division. With the acquisition completed, Golden Triangle is now focused on facilitating the company’s assumption of full ownership of the logistics operation, brokerage business, licenses and all associated assets.

“We are confident about successfully implementing our initiatives, maintaining profitability and significantly scaling the operation,” said Lavish Entertainment president and COO Marco Antonio Moreno. “Our goal is to secure premium, dedicated, high-paying lanes, upgrade our existing equipment, strengthen all operations and expand our business into more lucrative markets, which further supports our other internal projects. This transition marks a pivotal moment in our journey, as we are now boots on the ground working towards a seamless integration, transition and a complete business enhancement on all fronts.”

The acquisition of Cargo Management Group brings a time-tested, proven performer into the Golden Triangle community. Cargo Management Group reported close to $3 million in top-line revenue last year. In addition, the company currently has contracts with numerous prominent corporations, including JB Hunt, CH Robinson, Coyote Logistics and Echo Logistics. Cargo Management Group also holds high-paying specialized loads in the gaming industry to transport slot machines to locations nationwide.

Short-term, GTVH and Cargo Management Group are focused on defining the structure and transition strategy for combining a high-performing shipping and logistics operation into GTVH. In addition, key team leaders are crafting a comprehensive business plan that builds on the strengths of the combined companies, which will substantially expand the company’s growth trajectory. Specifically, the plan will include incorporating all types of trucking freight movements and adding heavy haul to the services offered by GTVH and Cargo Management Group.

“This initiative marks the first of several strategies we plan to implement that aim to optimize our capital structure within GTVH,” said Steffan Dalsgaard, Golden Triangle Ventures president. “Our goal is to develop true fundamental business activities that support all our operations. We have successfully implemented the first part of our four-pillar business model that supports Lavish Entertainment and our flagship Destino Ranch project, and our team is now focused on executing a series of other promising developments. These efforts are designed to further our objective of increasing shareholder value across all facets of our company.”

Golden Triangle Ventures is a multifaceted consulting company that operates as a parent business pursuing ventures in the health, entertainment and technology sectors, along with other sectors that provide synergistic value to these three core divisions. The company aims to purchase, acquire and/or joint venture with established entities within these areas of business. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors the company aims to do business in.

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

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

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CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

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Software Effective Solutions Corp. (SFWJ) Notes Subsidiaries Making ‘Remarkable’ Advancements in Array of Sectors Around the World

Recent report projects global cannabis market to reach $444.34 billion by 2030
MedCana and its subsidiaries are focused on establishing stronghold in this expanding space
MedCana is committed to advancing cannabis production and agricultural technology around the world, while also driving innovation and promoting sustainability

The cannabis industry continues to grow, as it has consistently for the past several years. Recent projections value the global cannabis market at almost $445 billion by 2030 (https://cnw.fm/k4VDg). This is good news for Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ), a leading entity in the cannabis and agricultural technology sectors. Recently, MedCana noted remarkable advancements across its diverse portfolio, which includes five companies focused on pharmaceutical cannabis production, as well as a software company focused on managing processes for plant-to-patient operations (https://cnw.fm/a2HeY).

“The global cannabis market size is projected to grow from $57.18 billion in 2023 to $444.34 billion by 2030, at a CAGR of 34.03% during the forecast period,” reported Fortune Business Insights, which noted that cannabis has been used for thousands of years for its therapeutic and medicinal benefits. “Marijuana legalization is gaining momentum across the globe. This momentum is driven primarily by increasing recognition that the product may have a range of legitimate medicinal benefits and therapeutic applications. It is the most widely cultivated, trafficked and consumed drug worldwide.”

MedCana is focused on positioning itself in this expanding space. The company reports that its subsidiaries are seeing significant success in different parts of the world. Several business units are currently in the final stages of negotiations to determine specific varietals to export to Europe and Australia; both countries are expected to see significant growth in their cannabis markets in coming years. In addition, the company’s South American subsidiary, Eko2o Environmental Solutions S.A.S., is rapidly expanding its reach within the agricultural industry, specifically eyeing growth in the Costa Rica and Central American markets (https://cnw.fm/HxRhQ).

Clearly, MedCana is poised for growth and profitability. The company’s deliberate decision to focus on cannabis production is bearing fruit, with operations working to meet the stringent quality and regulatory standards of the European and Australian markets. When these standards are met, the resulting expansion is expected to significantly boost MedCana’s international presence and open new avenues for growth.

“We are delighted with the progress we’ve made across all fronts,” said MedCana CEO Jose Gabriel Diaz. “The final negotiations for cannabis exportation and the rapid expansion of Eko2o’s technology distribution mark a significant milestone in our journey. We are now closer than ever to achieving profitability and solidifying our position as industry leaders.”

MedCana is committed to advancing cannabis production and agricultural technology around the world, while also driving innovation and promoting sustainability. As the company moves forward with its strategic growth plans, stakeholders can expect to see enhanced profitability and a stronger global presence.

Software Effective Solutions/MedCana is a holding company focused on developing companies in the agricultural technology and cannabis industries. The company remains dedicated to delivering on its promise of building a solid foundation for future growth of its holdings.

For more information, visit the company’s website at www.MedCana.net.

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

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420 with CNW — White House Objects to Proposal Seeking to End Cannabis Testing for Army Recruits

The Biden administration has expressed its opposition to a proposal that would prevent military branches from testing for cannabis use as part of the commissioning or enlistment process, noting concerns about how it could impact military readiness and safety. The White House Office of Management and Budget (OMB) released a statement on June 11, 2024, outlining its policy concerns regarding various elements of the 2025 NDAA. The bill is currently under consideration by the Rules Committee for upcoming House action.

One specific provision that the administration opposes is Section 532. This section would prohibit military branches from requiring cannabis tests for individuals as a condition of their enlistment or commissioning as officers in the Armed Forces. The OMB highlighted that while it has an appreciation for Congress’s intent to expand the pool of potential military recruits, the office opposes Section 532 because it would stop the U.S. Department of Defense (DoD) from testing applicants for delta-8 and delta-9 THC, the active components in cannabis.

Last year, the DoD told legislators that delta-9 THC is the most frequently detected substance in drug tests among active-duty service members. A few military branches have already begun to relax marijuana-related restrictions, including providing waivers for recruits who test positive initially.

In parallel, Republican legislators have introduced a change to the NDAA, which will be reviewed by the Rules Committee. The amendment aims to remove the cannabis-related language from the measure, which had previously been approved by the Armed Services Committee. The Rules Committee will also deliberate on a separate bipartisan amendment to the defense measure. Under the provision, the defense secretary would have to report to Congress on how the agency plans to create, distribute and apply a precise definition for the reenlistment waiver procedure.

This is not the first instance of the Biden administration clashing with congressional cannabis-reform advocates. For instance, the president has routinely included a rider in his budget plans that prohibits the District of Columbia from utilizing local tax revenues to fund the implementation of a recreational cannabis sales system. Interestingly, even with current Republican control, this year’s spending bill has excluded that rider.

Biden has been praised for his other marijuana-related initiatives, even despite these points of dispute. Notably, the U.S. Department of Justice (DOJ) recommended reclassifying marijuana as a result of his directive to reassess the drug’s federal classification. He has also granted two rounds of mass cannabis pardons.

This position of the White House is unlikely to be surprising to marijuana companies such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) given that such a policy change for the military can only happen once significant reforms have been enacted at the federal level.

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

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420 with CNW — Cannabis Operators Applaud End of Potency Tax in New York State

New York governor Kathy Hochul has successfully changed the state’s cannabis tax structure. Starting June 1, 2024, a new flat excise tax replaces the previous potency tax, marking the beginning of the new financial year.

This move is part of New York’s $237 billion budget for FY 2025 and is receiving positive feedback from many in the cannabis industry, especially smaller retailers, processors and social-equity beneficiaries.

With the tax reform, retail marijuana prices are expected to decrease, a significant development as licensed cannabis entities strive to compete with the numerous illegal shops, particularly in New York City. Governor Hochul had criticized the initial rollout of the recreational marijuana market as problematic. Earlier this year, she proposed eliminating the potency tax and implementing a flat 9% excise tax instead.

Previously, the state’s 2021 cannabis act — MRTA — required cannabis operators to pay taxes based on THC content at 0.5 cents, 0.8 cents, and three cents per milligram of flower, concentrates and edibles, respectively.

This sometimes resulted in a 25%–30% tax on typical market prices, according to Naturae cofounder and CEO, Nicolas Guarino. Some products, including tinctures, saw price increases of up to $60 per unit due to these taxes. With the new tax structure, Naturae aims to reduce prices on about 30% of its products, offering discounts between 15% and 35%.

Silly Nice, an NYC-based brand run by Black and veteran entrepreneurs, had to pay around $20,000 in THC taxes during the first quarter of the year, which had a big impact on the company’s profit margins. Cofounder LeVar Thomas is happy about the tax shift, pointing out that it will enable the company to increase the range of products it offers at more inexpensive prices.

Happy Munkey, led by cofounder and CEO Vladimir Bautista, is set to open its first store in Manhattan’s Washington Heights. Bautista believes the new tax will make legal marijuana more affordable and reduce the appeal of the illegal market.

The new rule, however, has little financial effect on larger, vertically integrated company’s such as Chicago-based PharmaCann. These multistate operators, known as registered organizations (ROs), were once in the medical sector and are subject to both retail and wholesale taxes. The economic impact on ROs is neutral, according to Jeremy Unruh, PharmaCann’s spokesperson, and it is still unclear what the true benefits will be for consumers.

PharmaCann was among six ROs permitted to enter the recreational market in December, one year after sales began. The policy change eliminated the three-year waiting time for ROs, nullifying the initial first-mover advantage granted to smaller suppliers and social-equity shops.

Despite the broad support for eliminating the potency tax, the new flat 9% excise tax is causing challenges because of unpaid invoices. Payment delays are a significant issue in the marijuana industry, contributing to the downfall of businesses such as Herbl and MedMen Enterprises.

New York cannabis operators have only 20 more days to collect payments from the previous quarter, a tough task given the financial strains in the industry. Many operators are currently on tax-payment plans with the state.

Guarino noted that while there is a mechanism for collections, the average collection time is about 45 days, even with 30-day net terms, complicating timely tax payments.

The situation in New York State is likely to be studied closely by other cannabis regulators, and this could result in similar reforms within other jurisdictions where companies such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) have operations.

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CannabisNewsBreaks – Golden Triangle Ventures Inc. (GTVH) Announces Significant Progress on Destino Ranch Project

Golden Triangle Ventures (OTC: GTVH) (“GTV”) today provided an update on its premier project, Destino Ranch, which is being developed by the company’s entertainment division through its wholly owned subsidiary, Lavish Entertainment. Destino Ranch is a bold project led by Lavish, designed to provide a unique combination of world-class entertainment, opulent accommodations and immersive experiences. Lavish has made significant progress in developing Destino Ranch over the past six months, including a massive overhaul of the irrigation system and extensive cleanup efforts including the repair of perimeter fencing, reinstallation of gates, and opening of roadways around the project. Tree care has been a primary focus, involving pruning and trimming for health benefits and ongoing fruit production, removal of dead trees and plans to add colorful trees and plants to create a park-like atmosphere, improving the environment and enhancing the overall aesthetic appeal of Destino Ranch. Management is diligently collaborating with city planners and council members to secure the necessary permits and approvals for the project. The company is actively engaged in future concept planning and, as part of this strategic initiative, is assembling a stellar board of team members and directors, whose expertise will propel the project forward. Concurrently, the company is identifying key vendors and determining specific placements, developing a precise site map to guide the development of Destino Ranch.

To view the full press release, visit https://cnw.fm/o7ZRI

About Golden Triangle Ventures Inc. (“GTV”)

Golden Triangle Ventures is a multifaceted consulting company, which operates as the parent business pursuing ventures in the health, entertainment and technology sectors, along with others that provide synergistic value to these three core divisions. The company aims to purchase, acquire and/or joint venture with established entities within these areas of business. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors in which this company aims to do business. Golden Triangle Ventures is highly focused on acquiring a well-diversified portfolio of companies under one umbrella, which are all managed and owned by the company. An amazing team of professionals support each division and continue to help the company grow daily. Being a publicly traded company gives the ability to provide the support needed to help each subsidiary grow into the business that management believes it can and will become. For more information, visit the company’s website at www.GoldenTriangleInc.com.

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

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420 with CNW — Slumping Marijuana Market in Colorado Triggers Industry Concern

In 2014, a Denver-based cannabis dispensary, 3D Cannabis, made history as the first seller of legal marijuana. Over a decade later, the dispensary bears a sign saying it is “temporarily closed,” with the building’s doors and windows boarded up and the parking lot strewn with trash, symbolizing the challenges facing Colorado’s marijuana market.

Once a thriving success, the industry is now marked by failed entities and struggling entrepreneurs due to regulatory challenges, market saturation and increased competition from neighboring states.

The market’s sales peaked in 2020 at $2.2 billion. But by 2023, revenues had fallen to $1.5 billion, which led to restructuring, closures and layoffs. The decrease has also affected state finances; in the most recent fiscal year, Colorado’s marijuana tax receipts dropped significantly to $282 million from prior years.

Several factors have contributed to the industry’s struggles. An oversupply of cannabis following the pandemic caused prices to drop sharply. The rise of cheap, unregulated hemp-derived products added further pressure. Additionally, the federal illegality of marijuana means operators face high taxes and costly rules.

However, the primary challenge has been the rapid spread of legalization across the country, with neighboring states such as Arizona and New Mexico now having their own legal cannabis markets and disrupting Colorado dispensaries, particularly those near the southern border. Tourists who previously flocked to Colorado for legal marijuana now have closer options, and even Texans are finding satisfying alternatives in hemp products available locally.

While some business owners have managed to survive by adapting, many have closed or moved to other states. The number of marijuana licenses in Colorado decreased by more than 16%, similar to the number of marijuana jobs, marking the second consecutive year of employment losses.

Maggie’s Farm, a retailer in southern Colorado, is one prominent example: out of its eight dispensaries, five are closed. Similarly, one of the biggest marijuana companies in the United States, Curaleaf, stated in January of last year that it was closing its cultivation and production facilities in Colorado.

In 2020, the pandemic helped the state’s cannabis industry at first since more people were staying at home and making more purchases, thanks to stimulus checks. However, as the pandemic’s dynamics shifted, the rush to expand cannabis production resulted in a glut of supply, causing prices to drop from nearly $1,700 a pound to about $700 a pound.

Companies such as Veritas Fine Marijuana, a wholesale grower, initially expanded their production but later had to downsize and change their cultivation methods to stay competitive. At its peak, Veritas employed 144 people; currently, it has only 21 employees.

Native Roots, another significant player, experienced similar challenges. Its Mothership growth facility in Denver used to produce around 32,000 pounds of cannabis annually but had to cut production by half by mid-2023. The company is cautiously increasing production again while closely monitoring market conditions. Native Roots benefits from having 21 dispensaries across the state, helping it weather the downturn better than some competitors.

Moreover, states compete on regulations, further complicating the market. New Mexico, for instance, allows adults to purchase up to two ounces of marijuana, double Colorado’s limit. Additionally, edibles in New Mexico can contain higher dosages. These higher limits attract residents from states without legal weed, who previously traveled to Colorado.

Despite the industry’s struggles, Colorado’s early legalization has produced successful entrepreneurs who have expanded beyond Colorado’s borders. Nancy Whiteman, for instance, founded Wana in 2010, focusing on marijuana-infused edibles. Wana has grown significantly, with operations in 17 states and Puerto Rico, and plans to enter the European market. Whiteman’s success culminated in a lucrative deal with Canopy Growth, a major Canadian cannabis producer valued at $350 million.

Major marijuana entities such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) could be assessing the changing market dynamics and planning their future strategic direction in order to remain at the top.

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420 with CNW — DeSantis Vetoes Bill Banning Hemp Intoxicants in Florida

As Florida governor Ron DeSantis campaigns against a ballot initiative for cannabis legalization, he has paradoxically vetoed a bill aimed at banning the sale of intoxicating hemp-derived cannabinoids in the state. This decision comes in the wake of reports that Governor DeSantis intended to block the hemp prohibition bill, hoping the hemp industry would financially support his campaign against the cannabis measure that voters will decide on in November.

Although DeSantis did not explicitly reference the cannabis legalization measure in his veto letter, he noted that while the goals of SB 1698 are admirable, the measure would impose significant regulatory burdens on small entities and likely fail to achieve its objectives. He expressed concern that the bill would cause substantial harm and disruption to many manufacturing and small retail businesses in the state, which have thrived due to new laws legalizing the use of hemp for commercial purposes.

Despite vetoing the bill, DeSantis proposed several considerations for future legislative work on the issue. He suggested that lawmakers establish guidelines for the handling, cultivation and processing of hemp products to guarantee their purity, safety and potency. According to the governor, the current bill falls short in this regard. DeSantis also suggested selling hemp-derived cannabinoids behind the counter and placing hemp retail stores a safe distance away from places of worship, schools and other gathering places for families with young children.

Essentially, DeSantis is asking voters to reject a ballot proposition that would impose similar rules on the recreational marijuana business, even as he advocates for harsher laws on the hemp-based cannabinoid sector. In the meanwhile, he permits the hemp sector to function without these proposed regulations.

The governor’s veto message was issued a day after a Fox News survey revealed that two-thirds of Florida voters, including a majority of GOP supporters, support the marijuana legalization initiative. According to the survey, 66% of voters support the initiative, surpassing the 60% threshold needed to pass the amendment under state law. In contrast, 52% of voters indicated they either highly or somewhat approve of DeSantis’ performance as governor, highlighting a 14-point disparity in support compared to cannabis legalization.

This calls into doubt the electoral viability of DeSantis’s opposition to the cannabis bill. The governor has maintained that the state should not go beyond the current medical marijuana program, arguing that more extensive reform would have a detrimental effect on Floridians’ standard of living.

The contradictions evident in the governor’s opposition to adult-use cannabis legalization while at the same time shooting down legislation to rein in hemp intoxicants is something that marijuana companies such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) could find baffling, making the case for federal reforms that are free from the suspected local interests that may have influenced this veto letter.

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420 with CNW — Ohio Officials Post Adult-Use Cannabis License Application Forms as Market Launch Looms

Cannabis regulators in Ohio have released guidelines to help medical marijuana dispensaries prepare for the application process to obtain dual licenses. These licenses would allow them to serve both medical patients and recreational consumers. Applications are expected to open soon, and the Cannabis Control Department (DCC) has provided a FAQ and detailed instructions to assist potential applicants in starting the process.

The provided materials cover various aspects, such as eligibility requirements, the approval procedure, regulations for dual license holders and the necessary documentation for applications.

One question addresses the timeline for reviewing and issuing dual licenses following the submission of an application. The DCC notes that predicting the exact number of days is challenging because it depends on several factors. These include the completeness of the application, the completion of employee badging, adherence to surveillance standards and the fulfillment of inspection requirements, including standards for POS.

However, a faster turnaround time is anticipated for current medical cannabis license holders that have previously satisfied the dual-use license standards and have properly established their POS.

Applications will typically be reviewed in the order they are submitted and received, but the FAQ highlights that applications from testing laboratories, cultivators and processors will be given precedence to ensure an effective supply chain.

Dual licensees must also ensure they maintain sufficient stock of marijuana to meet the needs of medical patients and avoid shortages. The DCC advises each dispensary to determine the appropriate amount of supply for their operation.

Although Governor Mike DeWine does not support cannabis legalization, he has criticized the delay in access to regulated products since voters approved legalization, which made possession legal last December. There have been legislative discussions about creating a bill to expedite sales and make various changes to the law, but these plans have stalled due to disagreements within the Republican-controlled legislature.

While the Senate passed an amendment package before legalization took effect, the House has not acted on it, nor has it moved forward with a different proposal originating in the House. Senators have also recently introduced a separate bill to modify various marijuana regulations.

Regulators have been completing the recreational market’s regulations in the meantime. They changed the regulations in February, letting caregivers and patients who use medical marijuana obtain or renew their registrations for only a penny. As part of an initial package of rules announced by the DCC in February to effectuate recreational legalization, this fee was fully deleted with the adoption of a new rule at the Joint Committee on Agency Rule Review (JCARR) conference last month.

When the market is finally launched, many entrepreneurs will have a chance to start thriving marijuana businesses similar to entities currently operating in other jurisdictions, such as Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF).

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420 with CNW — Senators Revive Push for Cannabis Industry to Access SBA Resources, Loans

A group of senators from the Democratic Party is urging a significant committee to ensure small cannabis entities have equitable access to federal Small Business Administration (SBA) lending programs and development resources available to other industries.

In an April letter to the leaders of the Appropriations subcommittee, the senators urged that the FY 2025 FSGG spending measure include provisions to stop the SBA from rejecting loan applications from small cannabis entities operating legally in states that have approved marijuana use and sales.

Senator Jacky Rosen led the letter, asking the subcommittee leaders to add clauses to the spending bill that would prevent the SBA from excluding state-legal marijuana businesses from its entrepreneurial development initiatives. Other senators who signed the letter alongside Rosen include Cory Booker, Jeff Merkley, Ron Wyden, Tammy Duckworth, Martin Heinrich, John Hickenlooper, Ed Markey, Michael Bennett and Alex Padilla.

The senators highlighted the change in public attitude toward cannabis reform, pointing out that markets which bring in billions of dollars in tax revenue had resulted from the legalization of cannabis in the majority of states. The senators also noted that most banks are hesitant to work with legal marijuana entities because of federal law conflicts, compelling these businesses to operate mainly with cash. This situation poses public safety risks. The lawmakers argued that SBA loan initiatives could bridge the gap left by private-sector reluctance, providing vital capital for entrepreneurs, including women, minorities and veterans.

This marks at least the third instance where Rosen has led a similar request to the Appropriations subcommittee, but the proposed language has not yet been included in any spending measure.

Senate leadership has been discussing a bipartisan measure to safeguard financial institutions working with legal marijuana entities. However, the progress of this bill remains uncertain, particularly due to resistance from key Republican members such as Mitch McConnell, the Senate minority leader.

Rosen has previously expressed a desire to amend the SAFER Banking Act to allow marijuana businesses to access SBA programs. Additionally, she has advocated for the inclusion of language in a newly introduced federal cannabis legalization measure that proposes an SBA pilot initiative. The initiative would provide intermediary lending, offering direct loans to qualified intermediaries, who would then lend to startups and businesses owned by those affected by the drug war and those from economically and socially disadvantaged backgrounds.

In a news release regarding the letter and the other efforts she recently spearheaded, Rosen stressed the value of small entities to Nevada’s economy. She emphasized her resolve to slash bureaucratic obstacles to facilitate such businesses’ access to financing and assist them obtain the federal support they require for expansion and prosperity.

Industry actors such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) would be glad to see that legitimate marijuana companies which need SBA services can access them just as businesses in other industries can.

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

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