CannabisNewsBreaks – Cannabis Global (CBGL) Repays, Retires Convertible Notes in Strategic Moves to Impact Balance Sheet

Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies, has announced the retirement of convertible debt, along with additional moves designed to positively restructure the company’s debt obligations. The convertible notes — three in all — represented a total principle value of $178,500; the company also signed an agreement to finance the payoff of a fourth note. These strategic steps are designed to have a marked positive impact on CBGL’s balance sheet for the fiscal year ending Aug. 31, 2020. “The funds we raised from convertible notes earlier this year were used wisely to jump-start the development of what we believe to be the most robust set of cannabinoid infusion technologies in the marketplace,” said Cannabis Global CEO Arman Tabatabaei in the press release. “As a result, we were able to file six provisional patents, develop several new technologies, which we are classifying as trade secrets, and develop multiple new products based on our IP accomplishments.”

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

About Cannabis Global Inc.

Cannabis Global, formerly known as MCTC Holdings Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission, trading with the stock symbol CBGL. The company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp and cannabis-infusion technologies. The company does not engage in the production, distribution or sales of any controlled substances, including marijuana. The company has an actively growing portfolio of intellectual property, having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. CBGL markets its consumer products under the Hemp You Can Feel brand name. Cannabis Global launched its Project Varin early in 2020 to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (THC-V) and to develop products based on this cannabinoid. For more information about the company, visit www.CannabisGlobalInc.com.

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

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

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420 with CNW – Vermont Could Be Close to Legalizing Marijuana

2020 looked to be the year for cannabis. Several states had plans to legalize cannabis via either voting on the November ballot or inclusion in the budget at the start of the year, but the coronavirus threw everything into disarray. The resultant health and economic crisis forced many of them to postpone legalizing cannabis to 2021 and beyond. However, some states were able to take the steps needed to initiate legalization despite the crisis. Vermont, for instance, seems poised to advance legal marijuana sales very soon.

S.54, legislation that will legalize retail marijuana sales in Vermont beginning in 2022 is set to advance in a special session either this month or next, says an inside source. Although the state legalized the possession of up to an ounce and cultivation of two plants, there is no regulatory system for retail sales. Bill S.54 would create a comprehensive regulatory structure for cultivation and retail sales. Two versions of S.54 have been approved by both chambers but they differ in certain ways.

The House version of the bill would impose an excise tax of 14% of the retail value and a 6% general sales tax while the Senate version would impose a 16% tax and allow for a local option of 2%, The senate bill would exempt recreational marijuana from the general sales tax levied by the state and it would also ban flower with more than 30% THC and concentrates with more than 60% THC. A bicameral conference committee appointed in March has been charged with reconciling the two different versions into one proposal to send to the governor.

“S.54 is currently in a committee of conference and we expect that committee to meet during the August/September legislative session. That’s consistent with what the leader said during a June telephone town hall, where she said they were ‘aiming to get it passed in August,’” said the chief of staff to House Speaker Mitzi Johnson. If S.54 is passed, Arizona will join a growing number of states which tax marijuana by retail price.

According to estimates from the Legislative Joint Fiscal Office (“JFO”), a 14% excise tax (House version) would raise $4.2 million in the first full fiscal year. 30% of the revenue would be allocated to misuse prevention while 60% would go to the general fund. A 16% retail tax (Senate version), one the other hand, would raise around $5.4 million in the first fiscal year.

Dave Silberman, a pro bono drug policy reform advocate says that beyond earning the state tax revenue, “an adult-use cannabis market will provide an economic lifeline to thousands of Vermonters by creating new, well-paying jobs that support our rural economy.”

It would be enlightening to hear what companies like Cannabis Global Inc. (OTC: CBGL) think about these two versions of the legalization bill.

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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 – Israel Health Ministry to Slash Medical Marijuana Prices in Half

Israel’s medical cannabis program recently went through a number of reforms that will see patients purchasing medical cannabis for up to 50% off the current price. The changes were presented by Health Minister Yuli Edelstein in the Knesset’s Labor, Welfare, and Health Committee. The reforms include switching from a license system to a prescription system, demanding a special budget basket from the Ministry of Finance, directing marketing and sale outside of pharmacies, the removal of cannabidiol (“CBD”) from the Dangerous Drugs Ordinance, transparency of products components for patients, and more.

According to Edelstein, he was exposed to the increasingly popular medical cannabis twice before assuming his current position as Health Minister. “It wasn’t until I entered the Ministry of Health that I had two opportunities to be exposed to the subject. The first one was 10 years ago,” he says. “When I was minister of Information and the Diaspora, I was offered to take foreign journalists to a place that produces and grows medicines. It was a great success.”

The second instance was much sadder. When my late wife, Tanya, was in her last months and the pain was severe, the doctor suggested she use marijuana. I am a witness that it helped her,” he says. “I don’t know if there were medical effects or not, but concerning the pain, it definitely helped her.” The Health Minister has since received tons of inquiries about cost from patients.

“When I arrived at the Ministry of Health, I received a lot of inquiries from patients about the prices and the mess. It was clear that professional and fast care needed to be given and that with the COVID-19 crisis I would not be able to reach it alone in the coming year. Therefore I asked Yoav Kish’s deputies to coordinate all treatment of the issue and address the issue as soon as possible with officials from the Ministry of Health and outside the ministry. This is an opportunity to thank the Deputy Minister who devoted his time and effort to this.”

Deputy Health Minister Kish, tasked with finding ways to lower medical marijuana costs, says his first assignment after assuming office is to address medical cannabis reform. “No one can remain indifferent to the harsh reality in which patients live. Unfortunately, the leading issue in public complaints is medical cannabis. We have led a series of steps here that will significantly facilitate the economic aspect. At the same time we are removing the bureaucratic suffering from which patients suffer a great deal.”

This is likely to be seen as great news by sector players like Cannabis Global Inc. (OTC: CBGL) since the best interests of patients has always been at the center of what all cannabis companies do.

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HempNewsBreaks – Cannabis Global (CBGL) Unveils New Product Line — Hemp-Based Alcohol-Substitute Mixers

Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies, has unveiled a new product line. CBGL’s new Hemp You Can Feel(TM) hemp-based, alcohol-substitute cocktail mixers are available both online at www.HempYouCanFeel.com and for wholesale distribution in bulk purchases. Consumers can use the product to mix cocktails that provide an experience similar to light alcohol consumption without the side effects of alcohol. “Because of the ultra-low levels of hemp extracts utilized, we feel we set a new standard for product-safety and satisfaction in the hemp food and beverage category with this product,” said Cannabis Global CEO Arman Tabatabaei in the press release. “While our Hemp You Can Feel beverages likely have the lowest hemp extract levels in the industry, we believe we provide a vastly superior positive effect upon use. We invite all consumers and alcohol industry participants to try what we see as the first viable alternative to alcoholic beverages.”

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

About Cannabis Global Inc.

Cannabis Global, formerly known as MCTC Holdings, Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission, trading with the stock symbol CBGL. The company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. The company does not engage in the production, distribution, or sales of any controlled substances, including marijuana. The company has an actively growing portfolio of intellectual property having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The company markets its consumer products under the Hemp You Can Feel brand name. Cannabis Global launched its Project Varin early in 2020 to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (THC-V) and to develop products based on this cannabinoid. For more information, visit the company’s website at www.CannabisGlobalInc.com.

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

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HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.

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CannabisNewsBreaks – Cannabis Global, Inc. (CBGL) Announces FINRA-Approved Name and Symbol Change

Cannabis Global (OTC: CBGL), formerly known as MCTC Holdings, Inc. (OTC: MCTC), dba Cannabis Global Inc., a cannabinoid and hemp extract science forward company developing infusion and delivery technologies, today informed its investors and the marketplace that its corporate identity change is now complete. According to the update, FINRA approved the company’s corporate action changing its name from MCTC Holdings, Inc. to Cannabis Global, Inc., as well as the corresponding change of its trading symbol to CBGL. “We have come a long way in only one year,” Cannabis Global CEO Arman Tabatabaei said in the news release. “During this year we have reorganized the company, instituted a robust cannabinoid-oriented R&D program, filed six provisional patents on the developed technologies, all while developing a host of consumer and industry products utilizing the inventions. We are very pleased to announce our corporate name change to Cannabis Global, Inc., and the new CBGL trading symbol.”

To view the full press release, visit http://cnw.fm/xA2OA

About Cannabis Global, Inc.

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