CannabisNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Files Early Warning Report Regarding James E. Wagner Cultivation Corp. (TSX.V: JWCA) (OTCQX: JWCAF) Investment

Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, this morning announced that Canopy Rivers Corporation, a wholly owned subsidiary of the company, subscribed for 2,380,952 units of James E. Wagner Cultivation Corp. (“JWC”) (TSX.V: JWCA) (OTCQX: JWCAF) at a price of $0.21 each for total consideration of approximately $500,000 in connection with JWC’s non-brokered private placement financing. Each unit consists of one common share in the capital of JWC and one-half of one common share purchase warrant. Each warrant enables Canopy Rivers to purchase one common share at any time on or before February 6, 2023 at a price of $0.275 each. Upon completion of the offering, Canopy Rivers holds 16,241,819 common shares and warrants to purchase a total of 2,190,476 common shares, representing roughly 15% of the issued and outstanding common shares on a non-diluted basis. A copy of the early warning report will be available under JWC’s profile on SEDAR at www.Sedar.com.

To view the full press release, visit http://cnw.fm/7EjQe

About Canopy Rivers Inc.

Canopy Rivers is a venture capital firm specializing in cannabis. Its unique investment and operating platform is structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers identifies strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth Corporation (TSX: WEED, NYSE: CGC) and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem. For more information, visit the company’s website at www.CanopyRivers.com.

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

About CanadianCannabisWire

CanadianCannabisWire (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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CannabisNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Subsidiary Modifies TerrAscend Canada Loan Terms

Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, this morning announced that Canopy Rivers Corporation, a wholly-owned subsidiary of the company, has amended the terms of its recent US$10 million loan to TerrAscend Canada Inc., a wholly‑owned subsidiary of TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF). The loan, announced October 2, 2019, included the purchase of 13,243 units, each of which was comprised of: (i) one unsecured convertible debenture of TerrAscend Canada with a principal amount of C$1,000 (the “debentures”), and (ii) 25.2 common share purchase warrants to purchase common shares of TerrAscend with an exercise price of C$6.49. Following the announcement of the loan and following discussions with the Toronto Stock Exchange (the “TSX”), Canopy Rivers, TerrAscend Canada, and TerrAscend decided to amend certain terms of the loan. Pursuant to the amended terms, the debentures have been converted into a C$13,243,000 loan agreement between Canopy Rivers and TerrAscend Canada. Interest on the principal amount advanced accrues at a rate of 6% per annum and all interest payments made are payable in cash by TerrAscend Canada. The loan is not convertible and is not guaranteed by TerrAscend. The principal amount matures on October 2, 2024 or an earlier date in accordance with the terms of the loan agreement. Additionally, TerrAscend has issued Canopy Rivers 2,225,714 common share purchase warrants that are exercisable upon the occurrence of certain triggering events, including (i) the amendment or removal of federal laws in the United States enabling the legal cultivation, distribution and possession of marijuana; and (ii) the stock exchange(s) on which securities of Canopy Rivers or its affiliates are listed permit the investment by Canopy Rivers in an entity that participates in the cultivation, distribution and possession of marijuana in the United States. The exercise price for the warrants, which expire on October 2, 2024, is C$5.95 each. The original warrants remain issued and outstanding.

To view the full press release, visit http://cnw.fm/X45dS

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CannabisNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Provides Update on Portfolio Companies

Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, this morning provided an update regarding recent announcements from its portfolio companies High Beauty, Inc., TerrAscend Corp. (CSE: TER), YSS Corp. (TSX.V: YSS) and James E. Wagner Cultivation Corp. (TSX.V: JWC) (OTCQX: JWCA). Per the update, High Beauty will remember 2019 as the year it expanded its retail presence across the U.S., Canada, and Europe. YSS Corp. and James E. Wagner Cultivation Corp. are currently assessing opportunities to increase their retail footprint in Canada, while TerrAscend is taking steps to build out its U.S. operations in 2020.

To view the full press release, visit http://cnw.fm/AkjI4

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420 with CNW – Marijuana Amnesty Boxes Installed at Chicago Airports

Marijuana amnesty boxes have been installed in two airports within the city of Chicago. The two airports are O’Hare International Airport and Midway Airport. The amnesty bins are for passengers to dispose of their adult-use marijuana before boarding a plane.

The airports had the marijuana amnesty boxes fitted at the end of December so that they would be there on January 1 this year when recreational marijuana sales become legal in Chicago. The boxes are located near the TSA checkpoints.

However, the TSA and the state police focus is not on individuals carrying marijuana because it is legal to possess marijuana while you are at the airport but illegal to fly with any substance. This is because marijuana is still federally illegal, and the federal government regulates all U.S. airspace.

Speaking to Fox News, a spokesperson for TSA said that although the TSA does not search the passengers for marijuana products such as edibles, under federal law, they are required to report any discovery of drugs or any other illegal substances. The local police are then left to determine further action after locating people carrying weed.

Chicago Tribune reported that the Department of Aviation in Chicago and the police were tasked with overseeing the marijuana amnesty boxes. The cops would empty the amnesty bins regularly, file a report on the contents of the box, and then dispose of all the materials that were dropped in the amnesty boxes by the passengers.

The trend of installing marijuana amnesty boxes at airports is gaining popularity because Chicago is not the first airport to have them fitted. Marijuana amnesty boxes were also previously provided in McCarran International Airport in Las Vegas and Colorado Springs Airport in Colorado for passengers to dispose of their marijuana before boarding flights.

In Las Vegas, the boxes are located at all the high traffic areas outside of the airport and within the airport car rental area. The Department of Aviation installed the amnesty bins after Clark County established a marijuana possession and advertising ban at the airport in September of 2019, reported The Las Vegas Sun.

Speaking to The Associated Press, McCarran spokeswoman, Christine Crews, said that the amnesty boxes were fitted outside the airport to help people comply with the ban issued by Clark County. She also said that the boxes would be monitored to prevent any tampering. She further said the content of the boxes would be disposed of multiple times a week by a hired contractor.

She added that any individual who does not comply with the rules and is found carrying weed at the airport would be dealt with by the Las Vegas Metro Police.

Placing the “marijuana amnesty bins” at airports is a good move that allows any passenger who still had weed on them to get rid of it safely before boarding a flight, and experts believe that weed companies like VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) may be hoping that the airport authorities will go a step further and use the public address system to remind travelers to use the amnesty bins.

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CannabisNewsBreaks – Canopy Rivers Inc.’s (TSX: RIV) (OTC: CNPOF) BioLumic Receives Approval to Apply Proprietary UV Light Technology to Medical Cannabis

Canopy Rivers (TSX: RIV) (OTC: CNPOF) portfolio company BioLumic Ltd. has received New Zealand Ministry of Health approval to apply its proprietary ultraviolet (“UV”) light technology to medical cannabis. According to the update, BioLumic’s approach has been successful in increasing yields in certain crops, such as strawberries, by up to 60%. This approval marks the first time the company’s UV light technology will be used on cannabis, which BioLumic hopes will show increased yields and help producers meet the rising demand for medical cannabis and cannabis-derived products. “The partnership between BioLumic and JWC is another sign of strong collaboration in the Canopy Rivers ecosystem,” Canopy Rivers President and CEO Narbé Alexandrian said in the news release. “We expect that BioLumic’s expertise in non-cannabis agriculture technology will help cannabis cultivators like JWC produce high-yield, sustainable strains that meet consumer demands and patient needs.”

To view the full press release, visit http://cnw.fm/96lLp

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420 with CNW – 5 Mistakes Commercial Cannabis Producers Should Avoid

Marijuana is a profitable crop that is highly regulated, and growers must avoid the mistakes discussed below when establishing their commercial operations. This will enable them to produce high-quality yields and still adhere to the evolving regulations.

Installing a growing system using equipment from various suppliers.

Setting up your commercial marijuana facility will be difficult if you are ordering the equipment, such as benching, irrigation systems, and lighting from different suppliers. As a grower, you should make sure that your benches are well coordinated with your irrigation system. Similarly, the cooling system should be designed in a way that takes into consideration the lighting details. Commercial farmers should take advantage of the automated growing equipment available on the market because when it is appropriately designed as an integrated system, it provides better traceability and uniform quality of the crop. It also increases crop yields.

Fitting your commercial marijuana facility with systems meant for small scale operations.

The facility and systems needed for small scale farming are different from those required in the industrial production of marijuana. And to ensure that commercial growers maintain consistent quality control in their facilities, they not only have to invest in systems and equipment capable of handling large operations but also ones that are capable of adapting to expansion plans in the near future. Growers should also work with experts who are experienced in designing top-notch marijuana facilities. The experts can also provide consultation services to the growers to ensure long-term growth.

Failing to develop reliable connections with your suppliers.

Before growing marijuana in your commercial facility, you should make sure that the facility is built to code by people who have the expertise and experience in building marijuana facilities. Before choosing the supplier, perform due diligence. Ask for references, and also visit their manufacturing factory and offices to ensure that their products and services are up to par. Their product must be of quality because it is a significant factor in the marijuana sector. Do not take shortcuts because it will only delay your license approval or cultivation of cannabis; therefore, ensure that your supplier will not fail you in any situation.

Failing to automate the growing process.

In order to adhere to the regulations stipulated by health departments and maintain a competitive edge, growers should be consistent in their quality control and compliance in their day to day operations. Their facility should be fitted with integrated growing systems, light levels, timed irrigation systems, specific fertilizing mix, air filtration, cooling, and heating system that can be adjusted automatically depending on the plant’s needs. This makes it easy to monitor and record the details on the environmental computer; thus, any unnecessary changes can be easily identified and corrected.

Postponing urgent orders until the last minute.

Some suppliers say that sometimes, they receive calls from growers who need benches and irrigation systems manufactured and fitted in their commercial facilities because they are being inspected in a few days. Although they have been in a position to meet the urgent orders, it is not advisable to rely on this method. The costs of setting up commercial marijuana facilities are substantial but entirely necessary for passing the inspection; therefore, growers should plan and get set up ahead of the scheduled inspection.

Industry watchers believe that experienced marijuana entities like Neutra Corp. (OTC: NTRR) and Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) know all too well the importance of avoiding the mistakes highlighted in the discussion above.

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420 with CNW – Michigan Retailers Sell Recreational Weed Worth $3M in First Two Weeks

It is the second week of marijuana sales in Michigan, and although the lines are not long, and the sales have reduced, the adult-use marijuana business remains brisk.

Reports from the Marijuana Regulatory Agency in Michigan show that the few numbers of retail marijuana outlets selling recreational marijuana have been able to collect a total of $3.1 million in sales so far.

The businesses located in Ann Arbor were able to collect $1.6 million in sales during the first week of recreational marijuana sales, which took place between December 1-8. During the second week of recreational cannabis sales, which was between Dec. 9 and 15, the shoppers spent approximately $1.4 in weed purchases.

Within the two weeks of sales, the state of Michigan collected a total of $515,051 in taxes, out of which sales tax is 6% while 10% is an excise tax.

According to the appropriation budget, the first $20 million generated in tax within the first two years of recreational marijuana sales is to be used in medical marijuana research. The rest of the funds are to be assigned as follows,

15% to the municipalities, townships, or villages,
15% is to be allotted to counties that have permitted the establishment of recreational weed businesses,
35% to public schools, and
35% to roads and infrastructure.

Out of 1,773 cities, townships and villages in Michigan, 1,400 of them have prohibited any recreational marijuana business in their jurisdictions.

The budget officials in Michigan are estimating that by late 2021 adult-use marijuana may become a $1.5 billion per year industry.

The state of Michigan had issued 16 licenses as of December 17, which is four more than what the Andrew Brisbo committee had projected by the new year. Brisbo is the Marijuana Regulatory Agency Director. However, most of the licensed businesses have not started operating due to delays in acquiring stock required to fill their shelves.

The only business allowed to obtain recreational marijuana businesses licenses till Dec 6, 2021, are those already operating businesses licensed under medical marijuana licensing laws.

The state allowed medical marijuana dispensaries to transfer half of the medical marijuana inventory which is older than 30 days to the recreational market.

Although some were pleased by the MRA move, some have expressed their concerns over the possible shortage of medical marijuana due to the high demand from recreational consumers.

During WKAR’s off the record, the Executive Director of Michigan Cannabis Industry Association Robin Schneider said that the state of Michigan is already experiencing a shortage of medical marijuana and the early launch of recreational sales could exacerbate the situation. He further said that there is a probability of sending patients to the black market due to lack of legal marijuana.

Speaking to MLive.com, several businesses said that they are stocking up their business before opening their doors to avoid running out of stock.

Speaking to MLive.com, the owner of Herbology Cannabis Co. in Wayne County’s River Rouge, Tarek Jawad said that he is uncertain when he will open his doors because the recreational marijuana is not enough to stock the stores. He added that he plans on placing large orders for medical marijuana so that after 30 days, he can transfer it to the recreational side.

Three of the largest licensed marijuana growers also own recreational outlets. This makes it hard for owners like Jawad to obtain recreational products.

The state also issued licenses for a testing laboratory, three recreational cannabis transportation companies, and to an event coordinator.

Experts are certain that cannabis industry actors like Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) are happy for the people of Michigan who are finally getting to enjoy the benefits, such as jobs, created by the marijuana industry.

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420 with CNW – Major League Baseball to Remove Marijuana from List of Banned Substances

Major League Baseball (MLB) is making a brave move by removing marijuana from the list of banned substances for minor league players. The agreement has not been finalized, but the MLB and MLB players’ unions are discussing the terms of the new policy.

In a tweet, The Athletic’s Ken Rosenthal said that as part of the new agreement on opioid negotiations between MLB and the players’ union, MLB would remove marijuana from the list of banned substances for the minor leagues. Rosenthal also noted that Major leagues are not subjected to marijuana tests.

The agreement is for minor league players who are not on the 40-man roster and are eligible to be included in the active roster.

In 2019 alone, 13 players have been suspended for ‘drugs of abuse,’ which is a term used to refer to weed. Currently, penalties for positive drug tests are stringent. If the first test is positive, the player is suspended for 25 games, 50 matches if the second test is positive, 100 games for a third, and lifetime suspension if a fourth test is positive.

Since 2002, players in the major league 40-man roster have not been regularly subjected to marijuana tests. They are only tested if there is a possible cause. A positive THC test results in a $35,000 fine and a treatment plan, but the players are not suspended.

The list of abused substances on the ban list for the MLB players includes cannabinoids, THC, human-made THC, and cannabimimetic (K2 and Spice), cocaine, LSD, opiates (such as heroin, codeine, oxycodone, and morphine), MDNA, and PCP.

MLB players’ union chief, Tony Clark, is positive that the two will agree at the end of 2019. The deal being negotiated also includes testing of opioids and the establishment of a recovery plan. The CBD Sports reported that the players in the Minor League who test positive for opiates would be enrolled in a treatment program instead of being suspended.

In October, the Los Angeles Times reported that very soon, changes will take place in the MLB at the directive of the players union. The agreement being negotiated is in response to the opioid crisis and the Angeles pitcher Tyler Skaggs, who passed on earlier this year due to a drug overdose. Skaggs overdosed on Oxycodone, Fentanyl, and alcohol. The drugs were found in his system after his death.

When it comes to marijuana usage, the MLB is known to be progressive; however, other league sports are slow to adopt marijuana reforms.

Although hemp and its derivatives are legal in the U.S, the PGA issued a directive stating that its golfers are not allowed to use CBD. The NFL reduced the penalty on marijuana usage, but since then, no further step has been made on the marijuana policy.

In 2017, the World Anti-Doping Agency cleared CBD use by athletes. It remains a permitted substance to date. Experts are of the view that cannabis companies, such as ChineseInvestors.com Inc. (OTCQB: CIIX) and Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF), long for the day when all athletes will have no fear about using cannabis for medical purposes.

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420 with CNW – New Zealand Government Presents 2020 Marijuana Legalization Bill

On Tuesday, the residents of New Zealand got a peek at the contents of a draft proposal on marijuana legalization that will be subject to a voter’s decision during the 2020 ballot.

According to a summary statement, the government of New Zealand is publishing the draft bill to ensure that the residents are well informed on the direction of legalization and the decisions being made.

The draft legislation gives a framework of the essential elements of establishing a regulated recreational marijuana market. Before the 2020 elections, the government will have updated the bill while taking into account public feedback.

If the bill is voted for by more than 50% of all voters, the soon to be elected government will have the responsibility of enacting new laws for regulating recreational marijuana.

The proposed legislation has the following policies:

People above the age of 20 would be able to purchase marijuana products.
People would be required to consume weed in private places and licensed facilities.
Mandate investments in public health education campaigns.
It would impose restrictions on campaigns.
It would also create a marijuana business licensing program.
People are also allowed to purchase up to 14 grams of marijuana per day and grow a maximum of two plants for personal use.

The government of New Zealand would be tasked with the establishment of the Cannabis Regulatory Authority to regulate the marijuana industry, approve business permits, and promote public health. The Cannabis Regulatory Authority would also be responsible for imposing the excise tax so that the government can recover costs incurred during the implementation of the marijuana program.

In a press release, Justice Minister Andrew Little said that the purpose of making the referendum questions, Marijuana Legalization draft and the Control Bill was to promote public awareness and discussions.

He further said that he aims to have the draft bill published in early 2020, to give them time to debate any needed changes. He also said that experience from abroad shows them the importance of presenting the public with factual and explanatory information to make an informed decision when voting.

The primary objectives of the legislation are to promote policies that reduce the severity of harm associated with marijuana and reduce the rate of marijuana use through education and treatment programs. The bill’s secondary objective is to eliminate the black market, reduce the arrest record, and safeguard quality control for marijuana products.

The details on the legalization proposal were first published in May. The bill was approved for a voter’s decision after the Green Party struck a deal to install Labor Party head Jacinda Ardern as the prime minister.

The referendum question will be structured like this:

Do you support the proposed Cannabis Legalization and Control Bill?
YES, I support the proposed Cannabis Legalization and Control Bill.
No, I do not support the proposed Cannabis Legalization and Control Bill.

This week, a survey was released showing that 49% of New Zealand residents are opposed to marijuana legalization, and 43% support marijuana reform. It is uncertain if the voters will give the bill the nod.

Green Party MP, Chloe Swarbrick, said that the primary focus of the bill is to limit access, and eradicate the illicit market. Swarbrick further noted that in New Zealand, people of all ages could purchase weed since the drug dealers do not check IDs, nor do they care about the safety of the products they are selling.

Analysts think marijuana industry players like Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) and ChineseInvestors.com Inc. (OTCQB: CIIX) hope that the winds of change blowing offshore also prevail on the U.S. federal government to revisit its marijuana policies.

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420 with CNW – Marijuana Companies Look to Europe for Greener Pastures

Marijuana companies in North America are experiencing lots of trouble, and companies that are looking to reap profits from cannabis are suffering from significant losses. In the meantime, European companies such as World High Life PLC are basking in the new opportunities brought by the emerging marijuana industry.

The marijuana sector needs a fresh look because its markets remain unattractive despite the changes in equity valuation and investor attitudes.

Canopy Growth holds the blue-chip marijuana market leader position. Before Constellation Brands Inc. acquired its first stake in 2017, Canopy Growth had already secured a significant amount of funds. A few days before marijuana was legalized in Canada; Canopy Growth shares increased by $55.45 (C$73.75). However, the stock price has dropped by 73% since then, and within the past six months, the company recorded the highest losses ever.

Canopy Growth shares were valued at $18 billion (C$24 billion) by the stock market at the end of April 2019. At the moment, the value at the stock market has dropped to less than $5.2 billion (C$7billion). Compared to the first quarter, the company’s sales were down 15% in the second quarter.

Apart from Canopy, other companies suffering from the downturn in marijuana market are Aphria Inc. whose shares have fallen 59% since April, and Aurora Cannabis Inc. whose shares have fallen 76% since the end of the first quarter of 2019. In the marijuana sector, companies are struggling with declining liquid assets, expensive operations, and shareholder attenuation.

On Tuesday, some pot stocks recorded a rise. Companies like the Horizons Marijuana Life Sciences (ETF), which holds dozens of marijuana stocks recorded a 4.9% increase in stock trading. This suggests that investors are beginning to see the opportunities in marijuana stocks. Canopy stock also recorded a rise of $1.53, which is equivalent to 8.2%.

The marijuana market in North America is struggling with a fall in stock prices and surplus marijuana; however, the investors are investing more and more in the European emerging marijuana industry since they do not want to miss out on the new opportunity.

In a few years, the new frontier market in Europe may become the most significant market around the globe. It is estimated that by 2029, the medical marijuana market in Europe and the UK will be worth approximately $64.2 billion (£58 billion).

One of the companies that have taken full advantage of the emerging cannabis market in the UK is the World High Life PLC. The company plans to become a world leader in the global medical cannabis market as the industry evolves in the UK and Europe.

World High Life PLC finds and purchases marijuana companies in the UK and different European countries, thus creating a portfolio of companies with the capability of being top players in the marijuana industry. Investors are aware that buying a single stock in WHL gives you access to all the shares in the company.

The new frontier market gives investors and organizations a new chance to invest in the marijuana industry since they did not initially invest when marijuana was first legalized in Canada.

Experts think it may not be long before we witness an influx of companies like No Borders Inc. (OTC: NBDR) and Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) into the European market as a way of getting a piece of the offshore marijuana pie.

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