420 with CNW — Data Suggests Celeb-Backed Cannabis Brands Perform Better

Data from the cannabis-focused online publication MJBizDaily has revealed that celebrity-backed cannabis brands are performing better than traditional brands. Cannabis brands with celebrity endorsements take advantage of the hundreds of thousands to millions of fans and massive social media followings of celebrities to create buzz about their products and attract customers.

Unlike other industries, players in the cannabis sector are subject to extremely strict marketing and advertising rules that prevent them from marketing their products in most conventional advertising spaces. One of the tactics such companies have adopted to circumvent advertising restrictions is partnering up with various celebrities to endorse their products.

A comparative analysis of cannabis sales data from celeb-backed brands and traditional brands by MJBizDaily found brands that leverage celebrity endorsements tend to attract more customers. In California, for instance, brands such as Cann, which has more than 40 celebrity shareholders and the endorsement of celebrities such as Rosario Dawson and Gwyneth Paltrow, outsold conventional brands in Q1 2023 by a healthy margin, MJBizDaily says.

Data from Headset, a marijuana industry analytics provider based in Seattle, also shows that cannabis products from celebrity brands tend to be cheaper. Given that America’s state-level cannabis industry has been grappling with high product prices, these brands attract more customers by making their products more affordable.

Headset found that while traditional brands sold an average of $26,591 in the first quarter of 2023, nearly 10 celebrity brands sold significantly more than that in the first three months of the year. For example, Cann sold $751,760 worth of cannabis products, Houseplant (Seth Rogen) saw $377,193 in sales, and Tyson 2.0 (Mike Tyson) sold $290,607 in cannabis products.

Khalifa Kush Enterprises, which is owned by rapper Wiz Khalifa, sold $209,607 worth of cannabis products while Carlos Santana’s Mitaro by Santana saw $134,688 in cannabis sales. Cann Social Tonics, the highest-selling celebrity brand in the country, outsold conventional brands by more than 30 times, indicating just how much traction such brands are gaining in the market.

On top of attracting multitudes of fans to their brands, celebrity brands find it easier to connect with partners, resulting in the creation of exciting promotions and keeping interactions with customers meaningful and satisfying. The brand manager for celebrity-backed cannabis lifestyle brand 22-Red (founded by the bassist of heavy metal band System of a Down and entrepreneur Shavo Odadjian) also notes that celebrity events such as meet and greets at retail cannabis outlets significantly increase engagement and help to drive sales.

Unlike traditional entrepreneurs, celebrities have plenty of equity with their followers and fans, Punjabi said, noting that “influence is king” in 2023.

The celebrity-endorsed companies are probably leading to a greater procurement of cultivation equipment, such as the grow pods offered by companies, including Advanced Container Technologies Inc. (OTC: ACTX), to meet the needs of thriving businesses.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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

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420 with CNW — Massachusetts Recreational Cannabis Sales Hit New Monthly Record

Ever since its inception, America’s state-level cannabis industry has been a major revenue earner for both business owners and states. According to data from the Cannabis Control Commission (CCC), cannabis retailers in Massachusetts sold almost $152 million worth of recreational cannabis last month, making June the most lucrative month in terms of sales since the state launched its recreational cannabis industry in late 2018.

Cannabis is one of the fastest growing industries in the world and recent data shows that the sector hasn’t slowed down its pace despite deteriorating economic conditions globally. The industry regularly generates billions of dollars per year in cannabis sales, creating jobs for hundreds of thousands of Americans and providing states with billions of dollars in tax revenue.

CCC data shows that consumers in Massachusetts bought $132.8 million worth of recreational cannabis and $19 million worth of medical marijuana. Unsurprisingly, cannabis flower is still the most popular form of cannabis for most recreational consumers, with vapes, pre-rolls, concentrates and edibles following. And with cannabis flower prices dropping to a historic low of only $5.82 per gram in June, adult-use consumers are much more likely to purchase flower compared to costlier options like concentrates.

Several other states surrounding Massachusetts have also launched their own cannabis markets in recent years, increasing the likelihood of lower sales due to reduced levels of cannabis tourism.

Just six months after launching its own adult-use market, cannabis retailers in Connecticut sold $24 million worth of medical and recreational cannabis combined in June. Cannabis flower accounted for more than 50% of sales while vape products and edibles made up 25% and 10% of sales.

Maryland is also enjoying high cannabis sales after recently allowing recreational cannabis commerce, with consumers spending more than $10 million on cannabis products over the first weekend of sales.

Despite the increasing competition from recently launched markets, Massachusetts is still going strong. On top of selling increasing amounts of recreational cannabis, marijuana retailers in the state are also providing the state with more tax revenue than the alcohol industry.

Massachusetts received $74.2 million in tax revenue from the marijuana industry compared to $51.3 million from alcohol in the first half of 2021. Retailers in the state of Massachusetts have cumulatively sold $4.74 billion worth of recreational cannabis since November 2018.

Meanwhile. the national cannabis market is expected to grow by 34% annually to reach a valuation of $444.34 billion by the end of the decade.

As this growth materializes, plenty of ancillary enterprises such as Advanced Container Technologies Inc. (OTC: ACTX) are likely to benefit because they sell supplies that marijuana companies use in their cultivation activities.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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420 with CNW — Minneapolis Vegan Restaurant Starts Infusing THC into Offerings

This month Hi Flora, a vegan restaurant, will have its unveiling. The exquisite eatery specializes in delectable plant-based dishes, and if customers desire, they can accompany their meals with invigorating, nonalcoholic beverages infused with THC derived from hemp.

Heather Klein, owner of Hi Flora and the brilliant mind behind Roots to Rise, aims to create a unique and distinguished experience that sets her establishment apart from other vegan restaurants in the Twin Cities. Hi Flora customers have the opportunity to purchase 5mg THC tinctures and incorporate them into their chosen culinary delights or beverages. Klein aims to provide an assortment of flavors in the future, allowing customers to create their own distinctive combinations.

Klein’s restaurant introduces a fresh and innovative concept amid the prevalent cannabis craze, which was sparked by the legalization of THC edibles by state lawmakers the previous summer—provided those edibles are derived from hemp. Furthermore, the recent legislation passed by the DFL-led lawmakers permits the recreational use of marijuana, which is slated to become legal on Aug. 1, 2023.

Marijuana and hemp are akin to close relatives, differing primarily in the levels of THC present in each plant. According to the federal standard, hemp can only have a maximum dry-weight THC content of 0.3%. The maximum permitted dosage for hemp edibles in Minnesota is 5 mg per serving and 50 mg per package.

“Last year’s change in the Minnesota law opened opportunities for an array of delightful and unconventional THC experiences. Now, those possibilities are expanding even further,” Klein said. “We were genuinely thrilled to incorporate these offerings into our menu, making them accessible to all.”

Along with THC tinctures, Hi Flora’s bar menu offers two THC-infused drinks made by neighborhood breweries.

Many Minnesotans were surprised by the passing of the hemp edibles bill, as no state licensing system or additional levies other than the regular sales tax had been put in place prior to its passage. However, as part of a more complete cannabis package, which legalized marijuana this year, legislators have since proposed new rules and taxes. The new regulations permit the sale of THC-infused beverages in liquor outlets.

Angie Heitz, wine director of North Loop Wine and Spirits, attested to the rise in acceptance of THC-infused beverages. The shop currently stocks a wide range of alcoholic beverages made by regional producers and brewers.

According to Bob Galligan, director of government-industry relations for the Minnesota Craft Brewers Guild, the new law has largely eliminated the uncertainty that surrounded the operation of companies in the THC edibles sector.

As the market matures, more opportunities will be created in tandem with the growing demand for marijuana products. This growth in demand will trickle down to cultivators, and they in turn may require more cultivation equipment, such as the micro-gardens commercialized by Advanced Container Technologies Inc. (OTC: ACTX).

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420 with CNW — Wholesale Cannabis Prices in Michigan Stabilizing

Wholesale cannabis prices in Michigan have finally begun stabilizing after years of historically low prices. Much like several other states with legal cannabis markets, Michigan was inundated with multitudes of sellers who flooded the market with cannabis flower soon after the controversial plant was legalized, thereby causing oversupply issues.

The cannabis industry had proven to be incredibly lucrative at that point, and plenty of players were attracted by the prospect of making significant returns on their investments. However, the oversupply of cannabis flower in Michigan caused wholesale prices to plummet by 74% from $351 per ounce in December 2020 to an all-time low of only $91 for an ounce of recreational cannabis flower in December 2022.

More than six months into 2023, wholesale prices in the state have leveled off and even enjoyed modest increases, giving producers hope that prices may not dip to the lows of previous years. The average price of cannabis flower per pound in February 2021 was $1,510 before dropping by 27% to $789 in February 2023. Prices have been on the rise since then, increasing to $832 per pound in April, $907 in May and $963 last month.

Industry experts believe that the stabilization of wholesale cannabis flower prices was due to several factors. For starters, the market was able to absorb much of the outdoor cannabis remaining from the previous season. There was also an increase in municipal governments that allow retail cannabis sales, and authorities stepped up their efforts to curb activity in the illicit cannabis market. Cannabis executive Narmin Jarrous explains that such illicit players often bring illegal cannabis into the market and sell it for pennies, making it extremely difficult for licensed sellers to compete and make a profit.

Michigan is projected to be the second-largest cannabis market in the United States after California, and addressing the illicit market as soon as possible can prevent Michigan from ending up like California where the illicit market regularly outsells licensed retailers.

Retailers in the Michigan cumulatively sold $2.3 billion worth of cannabis in 2022, and they are projected to sell up to $3.1 billion worth of cannabis this year. However, despite the recent stabilization in wholesale cannabis prices, some industry insiders expect several market factors to continue pushing cannabis prices down. This includes the fact that Michigan currently doesn’t have a statewide cap on the total number of marijuana business licenses, meaning the market is still at risk of dealing with oversupply issues.

This stability in the wholesale cannabis market is likely to spur existing growers to invest in better cultivation equipment from suppliers such as Advanced Container Technologies Inc. (OTC: ACTX) in order to optimize their operations and boost their margins.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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420 with CNW — New York Backtracks on Plans to Sell Cannabis at Farmers Markets

The New York governor’s office is reconsidering a proposal to permit the sale of locally cultivated cannabis at farmers’ markets during the summer season. The initiative had the potential to greatly benefit an estimated 200 farmers who had acquired licenses to grow cannabis under the supervision of the state’s Office of Cannabis Management (OCM), which oversees New York’s emerging legal marijuana industry.

Since the legalization of recreational cannabis use for adults more than two years ago, the state has provisionally approved more than 150 retail licenses. However, due to delays and financial constraints, only approximately 20 stores have managed to open across the entire state. Consequently, cannabis growers find themselves in a predicament, struggling to find legal avenues to sell their harvest.

During a town hall meeting in May 2023, the director of policy, John Kagia, outlined a proposal that would allow farmers to set up booths at summer farmers markets, creating an opportunity for adults aged 21 years old and above to purchase their products. Kagia suggested that farmers could participate in these markets through licensed retailers authorized by the state.

“We are exploring a wide range of venues,” Kagia expressed, emphasizing the possibility of establishing a dedicated market exclusively for cannabis growers. The market could potentially be integrated into existing events such as concerts or festivals, providing the growers with an opportunity to showcase their produce. Kagia assured the growers that he had the necessary authorization to discuss these plans at a high level.

“We anticipate that the farmers markets will serve as a gateway to unlock the potential of this product and allow New Yorkers to experience the exceptional quality of your cultivated goods,” Kagia asserted, receiving positive feedback from many of the growers.

At the time of the meeting, officials anticipated that sales would commence within a few weeks. However, the passing of those weeks, along with the conclusion of the July 4th holiday weekend, has not seen any significant progress made on the proposed plans.

Last week, an OCM spokesperson adopted a more neutral stance toward the proposal. Aaron Ghitelman conveyed the office’s openness to considering opportunities to strengthen the state’s cannabis industry. However, he also emphasized that no final decisions had been made regarding the inclusion of farmers markets.

The implementation of the farmers market model faces potential obstacles, including opposition from certain local governments toward retail marijuana dispensaries. Additionally, the fact that cannabis remains illegal under federal law poses a challenge, as the markets could potentially jeopardize federal funding.

This backpedaling by the authorities in New York could hamper the plans of some growers to acquire additional equipment from the likes of Advanced Container Technologies Inc. (OTC: ACTX) in order to scale their cannabis cultivation operations.

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420 with CNW — Key Senators Plan on Cannabis Banking Vote This Month

Cannabis banking has been one of the most contentious issues since states began legalizing medical and recreational cannabis. Although more than 30 states now allow the purchase and use of either recreational or medical cannabis, federal law still classifies cannabis as a Schedule I controlled substance.

As a result, players in the cannabis market typically cannot access financial services that are accessible to every other industry This includes access to banking institutions and federal aid, forcing businesses to operate on a cash-only basis and making it difficult for them to access capital.

Lawmakers introduced a bill called the Secure and Fair Enforcement (SAFE) Banking Act in 2019 to finally grant cannabis businesses access to financial services. However, despite being passed by the House several times, the SAFE Banking Act has consistently failed to advance past the Republican-controlled Senate.

A group of senators has now revealed that it hasn’t given up on the cannabis banking bill and is poised to vote on the banking bill in a key committee. In a recent series of interviews, several senators discussed their opinions on the controversial cannabis banking act.

Senate Banking Committee chair Sherrod Brown said that he would like to hold a committee vote on the bill after the July 6, 2023, recess. However, Brown said that the vote depends on whether unrelated legislation that had passed through his panel advances past the Senate floor. The committee held an initial hearing on the banking legislation in May and is currently debating section 10 of the proposal under the guise that it could significantly limit regulators’ ability to deal with people taking advantage of banking services.

The issue was first flagged by Senator Jack Reed, who argued that the language used in the section would make it harder for regulators to point out customers who present a risk to banking institutions, allowing for the proliferation of criminal activity in various sectors.

According to Senator Steve Daines, the cannabis banking bill still has the best chances of advancing through Congress even with Republicans holding a majority position in the House. Still, Daines noted in a separate interview that committee members still hadn’t reached a consensus on a final deal and are still holding discussions on the matter. He said that Democratic senators should limit the scope of the legislation to increase its chances of passing.

According to a spokesperson from Daines’ office, the Republican senator is open to revising the bill to add provisions for the expungement of prior cannabis-related convictions.

When marijuana banking becomes a reality, more industry companies could access the funding they need to expand their operations, and this could in turn create a bigger market for downstream businesses such as Advanced Container Technologies Inc. (OTC: ACTX).

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420 with CNW — Maryland Legislators Recognized ‘Marijuana’ as Racist Term While Formulating Cannabis Law

In 1924, the people of Baltimore awoke to a startling illustration in their leading newspaper. It depicted a devil emerging amid the fumes of cannabis being cooked in a pot over coals. The smoke drove those with the habit of secluding themselves into a frenzy.

The headline of that August edition of the Baltimore Sun read, “The Mystery of the Peculiar Mexican Herb,” as several news outlets at the time used similar imagery and language. The article continued, attributing all kinds of negative tendencies to indulgence in the dreaded “marihuana weed” from Mexico. This sentiment was part of a wider anti-Mexican wave that often masked itself as a call for banning a dangerous substance.

Mexican newspapers had used the term “marihuana” as early as the 19th century when indigenous Mexicans embraced the medicinal and recreational use of the plant after its introduction by Spanish colonizers.

As Maryland recently joined other states in legalizing recreational cannabis use for adults, the debate over what to call the drug also arose. In the past, “marijuana” and “cannabis” have been used interchangeably. However, some scholars pointed out that the term “marijuana” had stigmatized the plant, particularly within Mexican and broader Latino communities, leading some to consider it racist.

In Maryland, lawmakers chose to use “cannabis” in the statute ending the criminalization of the drug, with the primary focus being reducing the incarceration rates of Latinos and Blacks for drug possession. The state is also committed to educating Latinos through workshops about legalization and cannabis business opportunities to counter misinformation and reduce stigma.

The negative connotations of the word “marijuana” resonate with Antonio Valdez, director of the National Hispanic Cannabis Council (NHCC), reminding him of his mother’s disapproval, a cultural aspect that brought shame within Latino households. A study by the NHCC showed that parents often cause feelings of shame over cannabis among Hispanic individuals, though many of them use the substance recreationally or medicinally. Interestingly, the study revealed that 41% of respondents were comfortable with the term “marijuana” compared to “cannabis,” while another 41% had no strong preference.

Santiago Guerra, a Colorado College professor of Southwest studies, emphasized the importance of using culturally significant terms for cannabis to foster inclusivity within the industry. Referring to the plant as “marijuana” recognizes the historical connection between indigenous Mexican populations and the plant, he said. Guerra emphasized that branding “marijuana” as racist overlooks the true reason behind the U.S. criminalization of the plant, which was fueled by anti-Mexican sentiments following the Mexican-American War.

As more states legalize the drug, Guerra believes it is essential to recognize Mexico’s historical role in its relationship with cannabis. By silencing this history, the true understanding of the term “marijuana” is lost, he added.

While legalization is intended to put an end to some of the social ills resulting from prohibition, it will also open up business opportunities for several cannabis-touching and ancillary actors such as Advanced Container Technologies Inc. (OTC: ACTX).

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420 with CNW — Home-Grow Cannabis Law Takes Effect in Connecticut

Starting this week, adults aged 21 years and older in Connecticut have been granted the legal right to grow their own cannabis for personal use, as per the latest provision of the state’s marijuana legalization law. As a reminder of this policy change, the DCP released a notice that emphasized the value of responsible cultivation and provided a thorough rundown of the requirements that must be adhered to.

Some of the key points that adults should be aware of regarding cannabis home cultivation include:

Individuals aged 21 and older can grow a maximum of six marijuana plants, with only three of those plants allowed to be in a mature state for personal use.
Regardless of the number of adults residing together, the household plant limit is capped at 12 plants.
The cultivation must take place indoors, away from public view, in a secure location inaccessible to minors and pets.
After harvesting, adults are strongly advised to store the cannabis in child-resistant packaging to ensure safety.

The legalization law that is being put into effect allowed medical cannabis patients the opportunity to start growing their own plants in October 2021, and that privilege is now being extended to all adult users over the age of 21.

Interestingly, home cultivation legalization comes some six months after Connecticut’s first recreational cannabis retailers opened, resulting in a significant expansion of the market. Recreational sales have risen to previously unheard-of heights and, as of May, have surpassed those for medical use.

Recently, Governor Ned Lamont signed a cannabis omnibus bill that introduces several reforms. Included in this are limitations on consuming hemp-derived goods, the creation of a new Connecticut Office of the Marijuana Ombudsman, and the issuance of permits for cannabis businesses to hold off-site events. Also included in the measure are definitions of edible marijuana products and revisions to the state lottery’s licensing policies.

In the meantime, the governor approved budget legislation last month that includes clauses to give state tax relief to legalized cannabis entities that are now forbidden from taking federal deductions under IRS code section 280E.

Moreover, a bill to improve the state’s cannabis legalization and expungement statute was approved by the House of Representatives in May. The measure calls for the release of people who are currently in prison on cannabis-related offenses as well as requests for judges to impose lighter terms or drop charges for a wider variety of cannabis-related convictions.

Similarly, the House approved a bill in May decriminalizing the possession of psilocybin mushrooms; however, the Senate did not consider these proposals before the legislative session ended.

The commencement of marijuana home cultivation is likely to create a bigger demand for indoor cultivation equipment in the category of what Advanced Container Technologies Inc. (OTC: ACTX) makes. If this happens, suppliers will likely a spike in sales.

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420 with CNW — Records Show Arizona Crossed $100M Mark for Monthly Cannabis Sales

State data has revealed that Arizona’s recreational cannabis market passed the $100 million sales threshold in March. The state legalized recreational cannabis in 2020 via the Safe and Smart Arizona Act, allowing the purchase, possession and use of recreational cannabis by adults aged 21 years of age and older.

It took Arizona a little more than a year after legalization to reach $100 million in adult-use cannabis sales, with recreational marijuana sales tripling medical cannabis sales over the last three months. According to the Arizona Department of Revenue, the state’s medical marijuana market has averaged $30 million in sales every month. Recreational cannabis sales in March were close to $101 million, increasing by more than $10 million from the $86.5 worth of recreational cannabis sold in April.

Cumulative sales for both recreational and medical cannabis reached $100 million in March 2021 with $59 million in recreational cannabis sales and more than $473 million in medical cannabis sales. Although overall cannabis sales in Arizona have surpassed $100 million every month since, March 2023 was the first time recreational cannabis sales alone breached the $100 million mark.

While recreational cannabis sales have seen an upward trajectory since March 2021, medical cannabis sales have been on a steady decline since peaking at $73.3 million in April 2021. Medical cannabis sales in July 2021 were under $40 million, and they have ranged from $33 million to $28.6 million from September 2022 to February 2023 when Arizona saw its lowest month of medical marijuana sales since it started reporting sales figures.

On the other hand, Arizona residents bought $93.4 million worth of recreational cannabis in December 2022, $91.3 million in January 2023 and $84.5 million in February 2023 before breaching the $100 million mark in March.

Arizona is already earning millions of dollars in tax revenue from cannabis sales, with the recreational market providing $15.4 million in revenue and the medical market providing $10.4 million. The state levies a 16% excise tax on adult-use cannabis sales and a 6% sales tax on medical cannabis while local governments charge an extra 2% on all cannabis sales.

According to the report, 30% of the total taxes collected from cannabis go to community college and provisional community college districts, 31% goes to public safety programs, 25% to the Arizona Highway User Revenue Fund and 10% to the justice reinvestment fund.

The sales numbers represent the enduring consumer demand for recreational cannabis around the country. States such as California, which have had legal recreational cannabis markets for much longer, are now home to behemoth markets that sell billions of dollars’ worth of adult-use cannabis each year.

These thriving markets for cannabis have created additional opportunities for entities such as Advanced Container Technologies Inc. (OTC: ACTX), which see a gap in the availability of the supplies that actors in the marijuana industry need.

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420 with CNW — Italy Moves to Regulate Its ‘Marijuana Light’ Program

Last week, Italian lawmakers presented proposals aimed at regulating Italy’s booming low-THC cannabis industry. Dubbed “cannabis light,” Italy’s industry is now home to multitudes of retail outlets selling cannabis with low levels of THC. Although legislators didn’t initially set out to legalize recreational cannabis, a measure meant to legalize industrial hemp, a type of cannabis that has little to no THC, opened a loophole that allowed the cannabis light sector to take root.

The government is now working to regulate the sector. On June 20, 2023, Italian Prime Minister Gorgia Meloni proposed amending tobacco legislation and extending it to cover low-THC hemp flower as well. Meloni’s proposal would have laid out a tax framework for low-THC hemp and created an authorization system via the Customs and Monopolies Agency (DM).

However, a day after the recently instated prime minister tabled the proposed amendment, the government withdrew the proposal. Industry sources and local media still believe that lawmakers will soon reintroduce the proposed amendments in another bill.

The tax framework created by the proposal would tax the sale of cannabis-light products at 56.5%, the same rate as tobacco. Local marijuana industry association Canapa Sativa Italia notes that this high level of taxation would hamper the development of Italy’s hemp industry. The proposal would also limit places that could sell cannabis-light products to tobacconists with a specialized license. These authorized tobacconists would have to use “authorized tax warehouses” under “supervisory measures,” the proposal stated.

Tax warehouses are buildings in Italy where businesses can store and process imported and domestic products without paying any VAT with the guarantee that the goods will not be sold in the warehouse. Such warehouses keep goods in free circulation and allow businesses to pick up goods without having to go through time-consuming formalities.

Some industry players fear that while these measures will provide a regulatory framework for Italy’s cannabis light industry, they will penalize artisanal producers and small businesses that have been in the game for years. Smaller businesses would have an especially hard time managing tax warehouses and ensuring product quality while in these warehouses.

According to industry association Canapa Sativa Italia, the proposed measures would lead to the growth of a new black market because illicit sellers wouldn’t be subjected to high taxes or strict operating requirements. And major cannabis states such as California have proved that it can be extremely hard to compete with a cannabis black market once it has taken root.

Implementing effective strategies to contain the black market isn’t only beneficial to enterprises that directly deal in marijuana. Others, such as Advanced Container Technologies Inc. (OTC: ACTX), may also see an uptick in business if all industry players are adhering to the same rules or standards.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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