Tag: FIRE

420 with CNW – US Virgin Islands Passes Medical Marijuana Law

On Tuesday last week, Gov. Albert Bryan Jr. signed a bill that legalized medical cannabis in the U.S. Virgin Islands. This brings to an end a long process that started with a referendum in favor of medical cannabis in 2014. 56.5 percent of the voters agreed that medical cannabis should be legalized and regulated.

Senator Positive Nelson then drafted a bill to actualize medical cannabis in the jurisdiction but the bill didn’t sail through the legislature. He persisted in bringing new bills during each legislative session until the most recent one passed in December last year and was assented to by the Governor a week ago.

Gov. Bryan Jr. had stated during his campaigns that he supported the legalization of medical cannabis, so putting his signature on the bill was a foregone conclusion as long as the bill passed on the floor of the Legislature. The Governor was also aware of the economic benefits that would accrue once medical cannabis is legalized.

The Medical Cannabis Patient Care Act states that patients need to get a recommendation from a doctor before consuming medical cannabis. The law also establishes the Office of Cannabis Regulation, the agency that will be charged with licensing and overseeing the medical cannabis industry.

The patients who reside in the Virgin Islands will be allowed to have up to four ounces of marijuana flower while those who aren’t residents will have a possession limit of three ounces. The Office of Cannabis Regulation will set the limits for the other cannabis products in due course.

The law also listed a number of health conditions for which patients can get a doctor’s recommendation for medical cannabis. These include neuropathic pain, diabetes, traumatic brain injury, HIV/AIDS, ulcerative colitis, muscle spasms, PTSD and so many others.

Medical marijuana advocates applauded the action taken by the Legislature and Gov. Bryan in passing this vital law. Patients who badly need alternative remedies for their conditions will soon access marijuana legally within the Virgin Islands.

It is expected that draft rules for the medical cannabis industry will be in place within four months after the enactment of the Medical Cannabis Patient Care Act.

What is left is for the regulations to be made so that industry players can start getting ready to cultivate, manufacture and distribute medical cannabis to the licensed dispensaries. It is hoped that this next phase will not drag out in the same way that passing the law did after the referendum of 2014. The Flowr Corporation (TSX.V: FLWR) and Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) wish the U.S. Virgin Islands a speedy implementation of their medical cannabis program.

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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 – Ontario to Select Cannabis Retailers Using a Lottery

Did you, in your wildest dreams, ever imagine that the start of your business venture would depend on the outcome of a lottery? Well, that is exactly the fate awaiting cannabis retail license applicants in Ontario, Canada. The provincial government led by the Progressive Conservatives has decided to use a lottery to select the first 25 private entities that will be allowed to open marijuana retail businesses.

Previously, the province had resolved to sell recreational cannabis in government-run retail outlets only. However, the change of government towards the end of the year resulted in a modification of that plan, thereby giving private players a chance to take part in the retail segment.

That change of government, and the resultant decision regarding how cannabis will be sold, led to a delay of the start of retail sales in brick and mortar outlets. For now, residents of Ontario can only buy cannabis from the online stores that have been operating since legalization took place on October 17.

The retail license applicants should not worry that the lottery equipment will be rigged. The system to be used during this lottery (that can make or break businesses) is the same system used by AGCO (Alcohol and Gaming Commission of Ontario) to test all slot machines before they are installed for use in casinos.

This particular lottery comes at a steep cost for those who want to participate. First, they were required to pay $75 as an application submission fee. Additionally, the applicants also forked out $4,000 as a retail authorization fee in addition to another $6,000 as payment for a retail operation license. To crown it all, each applicant was required to present a $50,000 letter of credit to prove that they had the financial ability to operate a cannabis retail outlet.

The applications were submitted between January 7 and January 9. AGCO will select the winners tomorrow (January 11). This round of the selection process excluded LPs (Licensed Producers of cannabis) in order to prevent a single entity from controlling the retail market.

AGCO had also warned that only serious entities or individuals should enter this lottery because stiff penalties will be imposed on those who don’t open their businesses by April 1. For example, a fine of $12,500 will be imposed if they don’t open their outlets by that date. A similar fine will apply if the business isn’t operational by 15th, and then a larger fine of $25,000 will have to be paid if the month ends when a licensed business hasn’t opened its doors to the public. In short, prepare to pay a fine of $50,000 if April 30 finds that your retail business isn’t operational.

Meanwhile, the supply shortages don’t show any sign of ending, and that is why AGCO decided to issue only 25 retail licenses instead of the 40 they had originally wanted to issue. Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) and other players like Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) hope the supply issues get resolved so that offline retail sales can take off without a hitch in Ontario.

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420 with CNW – Study Finds That Veterinarians Want Cannabis Legalized for Pets

A recent survey has discovered that the majority of veterinarians want the laws on marijuana relaxed for both pets and humans. Many of those who participated in the survey felt that they were fairly informed about the medicinal use of marijuana, but they lamented that state veterinary associations or boards aren’t providing guidance to keep their members informed about how to handle the subject of cannabis for pets with clients.

The study, whose findings were released in Frontiers in Veterinary Studies (a respected industry journal), had more than 2,100 certified veterinarians sharing their views.

The researchers observed that just under five in 10 of the practicing veterinarians who took part in the survey revealed that they didn’t feel at ease discussing marijuana with pet owners. This hesitation was more noticeable among the veterinarians who had recently graduated, and were therefore new to the field.

Only eight percent of the respondents said that they had never been asked by a pet owners about CBD products for pets.

A significant proportion of the respondents (66 percent) admitted that they would never recommend marijuana for dogs while approximately five percent revealed that they routinely recommend CBD to dog owners.

Two key reasons were given to explain why the veterinarians were uncomfortable recommending marijuana to pet owners. First, 65 percent of the veterinarians felt that more research on the subject was needed. Secondly, 53 percent were reluctant because of the legal issues surrounding marijuana.

CBD was either recommended or discussed for pain management, fireworks or storms phobias, seizures or anxiety.

A huge majority (82 percent) of the study participants said that CBD should be removed from Schedule 1 while 70 percent of the respondents want marijuana rescheduled from where it is currently classified (Schedule 1).

The authors of the study wrote that the existing laws, and the polarization between marijuana advocates and those opposed to it, have made it hard for veterinarians to feel at ease when discussing marijuana with pet owners.

The authors therefore called on state veterinary boards and state veterinary associations to be more forthcoming with actionable guidance to veterinarians so that these professionals aren’t on their own when responding to queries from their clients.

The voices from different groups (alcohol retailers, mayors, etc.) are getting louder in their demands for marijuana law reform at the federal level. This survey of certified and practicing veterinarians is yet another addition to those calls. How long will the federal government wait before it listens and acts accordingly? Participants in the industry, such as Supreme Cannabis Inc. (TSX.V: FIRE) (OTCQX: SPRWF) and Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) hope that federal action is seen sooner rather than later so that even players outside the U.S. don’t have a cloud hanging over their heads.

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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 – Row Over Patents Threatens to Delay Thai Medical Cannabis Legalization

Thailand is in advanced stages of legalizing medical cannabis, but a row over the patent applications filed by foreign cannabis companies may jettison the process that was expected to culminate in a law being passed in January 2019.

Local businesses and activists feel that the granting of those cannabis patents will make the foreign companies control the cannabis industry in the country and deny scientists a chance to conduct needed research on the plant.

Chokwan Chopaka, a cannabis legalization activist, compared the patent applications to someone wishing to patent water and all its uses. Thai law doesn’t allow anyone to acquire a patent for any plant-related substance.

Civic networks and researchers are threatening to take legal action against the government in case the patent applications are approved.

Singapore and Malaysia, Thailand’s neighbors, are just getting started on the debate to legalize medical cannabis, so Thailand would be a kind of pioneer in the Southeast Asian region if it passed the appropriate legislation early next year as expected.

Such an action would be a major undertaking, given that the Asian region has been known to have some of the harshest penalties for possession, distribution and consumption of marijuana. For example, the death penalty is routinely handed out and implemented in Singapore, Malaysia and Indonesia in case someone is convicted for trafficking marijuana.

Similarly, thousands of people have been killed in the Philippines in a drug war that intensified when President Rodrigo Duterte started cracking down on narcotics in 2016.

However, marijuana hasn’t always been illegal in Thailand or the region. Traditionally, it was used as a medicine for sore muscles for Thai field workers for thousands of years. Thai women also used it to ease labor pains.

Those who are familiar with the word “bong” may be surprised to discover that this word (referring to the water pipe used when smoking weed) has its origin in the Thai language. Marijuana only became illegal in Thailand in 1935.

The move to legalize cannabis, at least for medical purposes, is therefore seen as the Thai community returning to its roots of using the plant as a medicine.

Furthermore, Thailand already earns a lot from medical tourism. Adding cannabis to the treatment options available to its visitors will therefore boost the medical tourism industry.

Another major plus for the upcoming cannabis revival in Thailand is the favorable tropical climate of the country which can make it cheaper to grow cannabis when compared to the marijuana grows in other countries, such as Canada.

What is left is for the government to handle the controversy brewing over patents well so that the interests of the indigenous firms are protected without locking foreign companies out. The two need each other if the industry is to develop and thrive to its full potential.

Cannabis industry players, such as Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) and Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF), in areas where the sector is thriving can only hope that any sticking issues are resolved early so that the industry in Thailand takes off without any baggage to weigh it down.

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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 – Supply Shortages Could Delay Issuance of Cannabis Retail Licenses in Alberta

The seemingly endless supply shortages ever since recreational cannabis was legalized have started having a domino effect on the Canadian pot industry. The latest news is that the province of Alberta will not issue any more cannabis retail licenses for up to 18 months, unless the supply shortages are addressed by the licensed producers who are mandated to grow and avail cannabis to the recreational and medical cannabis markets.

The Alberta Gaming, Liquor and Cannabis (AGLC) commission made the announcement, adding that the matter was out of their hands.

So far, 65 retail stores were approved and started operating. The province had promised to increase the number to about 250 stores within a year after legalization. However, the ongoing shortages have thrown a spanner in the works, and it may not be possible to hit that target.

Matters may worsen on the supply side if Ontario starts retail sales at the beginning of April next year as planned.

The moratorium on new licenses is biting the business community hard. This is because many of the potential retailers had already leased expensive premises for the retail stores, and now they are continuing to pay rent yet they aren’t operational. For how long can they keep making these rent payments before closing for good?

It isn’t clear what recourse the staff who had already been hired will have in light of this extended delay for new stores to open.

It seems the only winner in this situation is the black market, because consumers keep resorting to the illicit market in order to get what they want. Black market dealers are having a field day meeting the needs of a market that was blown wide open after legalization on October 17.

Meanwhile, Alberta is getting jittery because the delays in licensing new operators may drive investors to Ontario. That capital outflow would take needed tax dollars with it. Alberta is the only province that has so far put a halt on the issuance of new retail licenses.

Their position is understandable given that it makes less sense to bring more retailers on board when the current ones cannot even get half the cannabis that the need to satisfy clients. In fact, it has been widely reported in the local press that buyers are so desperate for recreational cannabis that they are maintaining 24/7 vigilance in order to be first in line when a new consignment of cannabis is delivered to a retail store. The supply chain should have been planned better to avoid such an extended shortage. Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) and Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) aren’t happy about the bad rap that the industry is getting due to these persistent shortages.

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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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Change in Attorney General Could Mean a Cannabis Revolution in the US

CannabisNewsWire Editorial Coverage: A new attorney general is still to be named to replace unabashedly anti-cannabis former AG Jeff Sessions. As the market awaits a new AG, there’s a steady push from cannabis companies keeping an eye on the massive potential of the U.S. market, companies that include Chemistree Technology, Inc. (CSE: CHM) (OTCQB: CHMJF) (CHMJF Profile), Aurora Cannabis (TSX: ACB) (NYSE: ACB), CannTrust Holdings, Inc. (TSX: TRST), Organigram Holdings, Inc. (TSX.V: OGI) (OTCQX: OGRMF), and Supreme Cannabis Co. (TSX.V: FIRE) (OTCQX: SPRWF) (SPRWF Profile).

To view an infographic of this editorial, click here.

By the end of 2025, the legal cannabis industry is expected to reach $146.4 billion worldwide. Meanwhile, a good number of U.S. companies and investors are being mostly locked out of this booming market because the federal government still classifies cannabis as a Schedule I drug.

However, a sea change of public opinion pointing towards a demand for federal legalization is underway with several states already having voted in favor of cannabis in some form. Even the notoriously conservative, teetotalling state of Utah has joined this revolution.

As Sessions’ replacement has yet to be announced, there is ongoing speculation on the positive benefits of a new face for the cannabis sector. As Forbes magazine puts it, “The new AG will likely be less of an opponent for cannabis simply because it is hard to find someone who has stronger opposition than Mr. Sessions.”

What’s on the table is a massive multibillion-dollar sector that could be unleashed quite quickly should the next AG have a softer and more populist approach to the plant. During the lead-up to a potential legalization, companies large and small are staking their ground in lucrative U.S. regions already brimming with a willing clientele eager to buy legal cannabis.

California alone could bring about a green wave, boasting an existing cannabis market larger than all of Canada combined. Chemistree Technology, Inc. (CSE: CHM) (OTCQB: CHMJF) has already begun setting up shop in the Golden State, having recently solidified a land purchase of 9.55 acres in California’s prominent Desert Hot Springs’ cannabis cultivation zone.

Chemistree’s strategic move into California is representative of an early-mover advantage, despite the state’s already booming cannabis sales. California’s cannabis spending hovered near $3 billion in 2017 — even before recreational marijuana became legal on January 1. By 2022, the market in the state is expected to soar to $7.7 billion.

In spite of the legal limbo of cannabis in the United States, the sector’s advantage may already be moving south from Canada into its neighbor to the south. Ahead of the new AG announcement, it appears the U.S. opportunity may have already arrived.

Waking the American Sleeping Giant

Combined, the top U.S. cannabis firms trading on Canadian exchanges represent $8 billion of market value—or roughly 20 percent of the billion-dollar market capitalization of the 144 cannabis companies listed in Canada. This just scratches the surface.

At the moment, the United States lags behind its fellow North American peers in fully capitalizing on the legalization of medical and recreational cannabis. Mexico is moving closer to legalization, with its congress at the beginning of deliberation of a bill to legalize cannabis across the country. During his election campaign, Mexican president-elect Andrés Manuel López Obrador signaled his willingness to consider legalization. Then last week, the country’s Supreme Court ruled that anti-cannabis laws are unconstitutional, forcing lawmakers to decide how to regulate its use.

To the north, Canada — along with Uruguay in South America — has already made recreational use legal. An additional 30 countries and 33 U.S. states, including Australia, Germany and Israel, have legalized some type of cannabis use. Those numbers are growing. More than a dozen countries have already started on the path to full legalization of the plant.

Following the resignation of AG Jeff Sessions, Sessions’ chief of staff, Matthew Whitaker, is presently serving as acting attorney general. Media outlets are speculating who the next AG could be, with New Jersey Governor Chris Christie and Florida AG Pam Bondi leading the way as potential candidates.

While Christie has been adamantly anti-pot in the past, Bondi oversaw the approval of medical marijuana in her state of Florida. A Bondi nomination, coupled with strong public support could ultimately be a major boost for the cannabis sector.

Gearing Up for a New Era

Cannabis companies are already getting their ducks in a row for a new era of legalization. With operations in Washington State and now California, Chemistree is gearing up for a big move.

Upon the announcement of its California land acquisition, Chemistree president Karl Kottmeier stated, “This is a great purchase for Chemistree. I am pleased to report that our highly experienced team in California has begun working on this exciting project. Not only did we arrive at what we believe is a very attractive price, we are buying a site that already has much of the Conditional Use Permit application process well underway. We expect to have the application submitted within the next few weeks and anticipate approval to take 2–3 months thereafter.”

The property is capable of supporting development plans and a Conditional Use Permit application for three 68,000-square-foot cultivation and processing buildings on the site, totaling approximately 205,000 square feet.

Earlier in the year, Chemistree purchased the high-quality, Washington-based Sugarleaf brand with the expressed intent to more than quadruple the reach of its product line through 2019. By taking Sugarleaf’s brand reach across state lines into California, Chemistree is pairing the new brand with its already acquired assets.

Beyond cultivation and branding, Chemistree is also expanding into Northern California. The company has entered into a joint venture on a cannabis processing facility in the north, while also seeking capital to expand locations in the state and broaden its service offerings.

More Red, White, Blue and Green Opportunities

Having recently spun off its American assets into Australis Capital, multinational cannabis producer Aurora Cannabis (TSX: ACB) (NYSE: ACB)  plans to enter the world’s largest economy when relevant laws allow it to do so. While Aurora currently has no direct ownership interest in Australis, the company holds two warrants that would allow it to acquire an ownership interest in Australis if holding investments in U.S. cannabis assets becomes permissible within a decade. In the meantime, Aurora has successfully listed itself on the NYSE.

Soon to be following in Aurora’s NYSE footsteps is CannTrust Holdings, Inc. (TSX: TRST). CannTrust managed to double its sales in Q3, as it prepared to move to the NYSE. While still early in the game, CannTrust delivered sizeable sales growth, and nominal profits. It entered into supply agreements with nine Canadian provinces to supply recreational cannabis across Canada. The company recently launched its fourth recreational brand named “Peak Leaf,” started shipping cannabis oil to Denmark and entered into an exclusive partnership agreement with Kindred Partners, Inc.

Possibly joining the caravan to the NYSE is OrganiGram Holdings, Inc. (TSX.V: OGI) (OTCQX: OGRMF). With a market cap around $600 million, OrganiGram is likely a suitable choice for listing on the NASDAQ exchange, but it could also potentially fit on the NYSE. When it’s finally to scale, OrganiGram will likely be one of the 10 largest cannabis producers in Canada. However, an opening up of the U.S. market would only serve to boost OrganiGram’s already impressive growth curve.

While not actively operating in the United States, Supreme Cannabis Co. (TSX.V: FIRE) (OTCQX: SPRWF) is preparing for entry into the international oils (for medical use) market. Through a partnership with Medigrow located in Lesotho, Supreme is looking to secure international opportunities including Medigrow’s 40,000 litres of cannabis oil potential per year. A loosening of U.S. drug policy could allow groups such as Supreme to import their wares from abroad into the United States and get involved in what could be the largest cannabis market in the world.

For more information on Chemistree, visit Chemistree Technology, Inc. (CSE: CHM) (OTCQB: CHMJF)

Please also read and review the article ‘With Cannabis Now Legal in Canada, Investors Are Turning South to the Largest Emerging Cannabis Market in the World’

About CannabisNewsWire

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 – Canadians Unhappy About Plastic Packaging of Cannabis

Canada legalized recreational cannabis on October 17 and the ongoing shortages aren’t the only thing that is having Canadians concerned. Many have expressed their displeasure regarding the amount of plastic packaging that comes with each gram of marijuana that they buy.

Some keen consumers have even measured the total weight of the plastic packaging and they found that a gram of cannabis could be packaged in as much as 70 grams of plastic! That amount of packaging raises concerns since plastic is not biodegradable.

Furthermore, Canada currently lacks a program targeted at recycling the plastic waste generated by the cannabis industry. This creates the risk that all that plastic may end up in the ocean, especially in communities that live close to the shore.

Some Canadians have even taken to social media to post the pictures of the packaging materials that come with the cannabis that they buy. The views and comments that such pictures attract show that concerns about plastic packaging aren’t isolated to environmental protection fanatics alone.

Customers who used to get their marijuana from medical marijuana dispensaries say that the medical cannabis was packaged in simple, plastic zip lock bags. That form of packaging wasn’t as wasteful as what is being seen with the cannabis that comes from recreational cannabis retail outlets.

The question therefore becomes, is there a reason to explain why recreational cannabis is packaged “excessively”?

The information available on Health Canada’s website doesn’t appear to dictate the way cannabis should be packaged. The website states that the immediate packaging of cannabis should clearly reveal when tampering has occurred. That packaging should also be child-proof while keeping the cannabis dry and free from contamination.

Manufacturers are therefore free to choose how they package their products as long as the options they choose meet the requirements of Health Canada.

One can therefore conclude that the manufacturers have opted to use plastic packaging probably because it is cheap and can keep their production costs low. Glass is a more eco-friendly but costlier material to use.

What about the zippered plastic bags? Manufacturers may have pushed them to the sidelines because they may not have been as child-proof as Health Canada would like. Remember, concerns about access to recreational cannabis by minors was one of the biggest objections to legalization.

As things stand, suppliers of cannabis to the recreational market need to go back to the drawing board and find ways to avail their products without harming the environment. After all, cannabis has always been seen as the eco-friendly (natural) option to the problems that come with synthetic drugs. It wouldn’t be fair for the footprint of this green remedy to be soiled by the containers in which cannabis is carried and distributed. Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) and Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) wouldn’t want cannabis to have its reputation mired in a plastic mess.

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About CannabisNewsWire

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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Editor@CannabisNewsWire.com

420 with CNW – The Largest Cannabis Store in the World Opens in Las Vegas

What happens in Vegas, stays in Vegas? Not so, if the recently opened recreational cannabis megastore is anything to go buy. Las Vegas has always been known for setting the bar when it comes to giving people a good time, but the level to which “Planet 13” has taken cannabis will send waves around the world due to its massive size and opulence.

Nevada State Senator Tick Segerblom summarized it well in his opening remarks when he said, “Welcome to Amsterdam on steroids!” Amsterdam, the Dutch capital, has previously held the record for being the best destination for those who want to consume recreational cannabis.

Now Planet 13 has bested the entire Amsterdam, and some. All in one swell swoop. The mega-store is located in what was formally a warehouse but now hosts the 112,000 square-foot recreational cannabis retail giant. The facility has a mind-boggling 45 cash registers intended to serve the patron who will visit this superstore to sample what is on offer.

The superstore also has interactive LED displays that are designed to magnify the glitz and glamor of the facility.

Larry Sheffler, the business partner of the CEO of Planet 13 said that their intention was to “out-Vegas Vegas” when they set up the megastore. The results of their efforts certainly don’t disappoint.

Planet 13 is strategically located within a walking distance of other tourist attractions and facilities like Mirage, Treasure Island and Palazzo. Even Trump International Hotel is within a walking distance from the cannabis retail superstore.

The cannabis retail megastore plans to lure more people to spend their money on Nevada’s adult-use cannabis for decades to come. Nevada legalized recreational cannabis in 2016 and retail sales started in July the following year (2017).

The maiden year of adult-use cannabis sales raked in revenues that exceeded the optimistic projections by 40 percentage. That year, the state government earned $70 million in taxes from the retail sales of cannabis worth $425 million.

Many of the politicians present at the launch remarked that Nevada had learnt from Washington and Colorado and decided to make the regulators work closely with the cannabis industry instead of taking a hostile stance that would have stifled the growth seen so far.

The cannabis-free formal launch of Planet 13 was followed by an official ribbon-cutting ceremony on November 1 to start retail sales there officially. Anyone keen to sample the cannabis sold there can now visit the megastore. If you are from a state that hasn’t legalized adult-use cannabis as yet, treat yourself to what is available at Planet 13 while taking comfort in the maxim that what happens in Vegas stays in Vegas! You can bet that Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) and Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) are toasting to Planet 13 and wishing it the very best Vegas and cannabis have to offer.

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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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As the Cannabis Industry Grows, So Do Challenges of Supply and Distribution

CannabisNewsWire Editorial Coverage: The cannabis industry is seeing repeated waves of growth, creating challenges for supply and distribution.

  • Currently worth over $7 billion, the cannabis industry is expected to exceed $65 billion in the next five years.
  • This growth is creating challenges for supply and distribution, as companies struggle to meet surging demand.
  • The passing of the 2018 U.S. Farm Bill will allow for further growth, adding to the cannabidiol (CBD) supply.

SinglePoint, Inc. (OTCQB: SING) (SING Profile) is one of the companies tackling distribution problems through the establishment of an online store selling CBD products. Tetra Bio-Pharma, Inc. (TSX.V: TBP) (OTCQB: TBPMF), a medical cannabis company, is expanding into the leisure market with a hemp-based energy drink. Luxury consumer products company American Premium Water Corp. (OTC: HIPH) is tapping into a similar market with CBD-infused water. The Supreme Cannabis Company (TSX.V: FIRE) (OTCQX: SPRWF) (FIRE Profile) just launched 7ACRES, an exclusive brand of high-end cannabis flower. And through its focus on research, Insys Therapeutics, Inc. (NASDAQ: INSY) is exploring the use of cannabis to tackle anxiety, autism, and early psychosis.

To view an infographic of this editorial, click here.

Can Cannabis Live Up to Expectations?

After decades exiled to the criminal economy, cannabis is finally finding a place in mainstream business. Liberalizing attitudes, especially in North America, are driving a change in the plant’s legal status. First as a medical drug, then as a recreational one, and finally as a wide range of derivative products, cannabis is turning into big business.

For cannabis users and patients hoping to benefit from it, this is an historic moment. As celebrations around recreational legalization in Canada showed, there’s huge excitement about what the future brings for cannabis fans. Those high hopes come with high expectations, with consumers queueing up to buy their first legal weed, and many expecting to have access to a regular supply from the moment legalization reaches their country or state. But the reality is more complicated, and if the legal industry is to succeed in drawing business away from criminal dealers then it will need to rise to the challenge of meeting uncertain and possibly unrealistic demand.

Cannabis Comes Out of the Shadows

Right now, cannabis is big business. Companies such as SinglePoint, Inc. (OTCQB: SING) are building entire strategies around selling hemp-derived CBD, derivative products, and the support systems needed by cannabis retailers. It seems extraordinary that, only 22 years ago, there was no legal cannabis industry.

Starting in 1996, individual American states began legalizing the use of cannabis for medical purposes. At the time, this was a rare and controversial novelty, tied to the plant’s potential to tackle both pain relief and the high-profile problem of nausea from cancer treatment. In less than a generation, that first drop in the ocean has become a rising tide that looks set to wash away cannabis’s illegality. Thirty-one U.S. states now allow the sale of cannabis for medical purposes. Nine of those states, along with Uruguay and Canada, allow the sale and consumption of cannabis for recreational purposes. Other countries are taking steps towards joining them.

The market isn’t just about straightforward cannabis. Industrial hemp, a form of cannabis that doesn’t get users high, is being used to produce products containing cannabidiol (CBD). Outlets such as SinglePoint’s SingleSeed.com are selling everything from muscle salves to beard oils infused with CBD. CBD is reaching places that more familiar cannabis products can’t.

As a result, SinglePoint’s products are now part of an industry worth billions of dollars. The global market for legal cannabis was worth $7.7 billion in 2016, and it keeps growing, with analysts predicting a value of $65 billion by 2023.

The Challenge of Distribution

This astounding forecast presents a great opportunity for cannabis companies, but it’s not without its problems. Given that there was no cannabis industry two decades ago, there has been an impressive rush to create infrastructure from scratch. Each new burst of growth generates demand for swift innovation, including the establishment of fresh supplies and distribution systems, an area in which SinglePoint specializes.

The challenges of this were well demonstrated when Canada legalized recreational cannabis on October 17. Some licensed shops were unable to obtain supplies of cannabis for days on end and had to turn away customers. In Ontario, no licensed dispensaries are expected until April, and the government store faced more demand than it could possibly handle. Even big companies faced supply chain issues and an uncomfortable few weeks of business. Unable to obtain the cannabis they had been told would be theirs, customers headed back to the black market.

With demand for both cannabis and CBD products rising, but patterns of demand still uncertain, companies are looking for flexible ways to reach their customers. Approaches such as SinglePoint’s online SingleSeed store offer a way to quickly reach a large number of customers, without the geographical limitations of brick and mortar stores. The company has been negotiating additional distribution contracts, as the industry rushes to catch up with customer demand.

Innovative use of technology will be crucial in creating smoothly running, adaptable supply channels. While also applicable to other sectors, SinglePoint’s LastMile delivery platform and SingleCoin digital wallet offer the types of solutions that could make the process of selling cannabis and CBD simpler. With access to an innovative electronic payment system and a delivery product targeted at small and medium businesses, retailers will be able to get started more quickly, serving customers in under-served markets. Technology won’t magically make the sector’s problems go away, but it will make it easier to face them.

More Growing Pain to Come

It’s important for the industry to get solutions such as LastMile into place now, because there are signs that another growth spurt is coming.

Throughout the summer, U.S. politicians have been discussing the 2018 Farm Bill, a wide-ranging bill that will establish U.S. agricultural policy for the next few years. The bill includes a measure that would legalize the growing of hemp, which federal authorities currently only allow in research and test crops. This could lead to potentially huge growth in the production of CBD, tackling some of the supply and demand issues. Though the Farm Bill is currently stalled, it will be a high priority for many politicians after the mid-term elections. And while there is dispute between Republicans and Democrats over other parts of the bill, there is cross-party agreement on the hemp measure.

The passage of this legislation will be good news for SinglePoint and other sellers of CBD products. Researchers at Brightfield Group predicted a doubling in the size of the CBD market to $1 billion from 2017 to 2022, and farmers are eager to grow hemp as a high-value cash crop. Though it will take time to ramp up production, companies that already have distribution infrastructure will be well-positioned to make the most of this growth.

Seizing the Potential of CBD

With the cannabis and CBD market growing, companies are moving fast to create a range of products for the health, well-being, and recreational markets.

Tetra Bio-Pharma, Inc. (OTCQB: TBPMF) is primarily working in medical cannabis. The company is working with drug regulators on pharmaceutical trials to better understand the effects of cannabis and its medical use. In particular, it is working on the use of cannabis to manage chronic pain as a healthier alternative to the opioids currently causing health problems across the United States. Tetra is also using its cannabis expertise to move into the broader CBD sector, offering products such as a hemp-based energy drink, for which it has recently signed a major distribution deal for both U.S. and Canadian markets.

A diversified luxury consumer products company, American Premium Water Corp. (OTC: HIPH) is developing health and beauty products using biotech. American Premiums is using this technology to help the body absorb CBD, courtesy of its Lalpina CBD water. This puts the company at the forefront of development of cannabis-based drinks, which are set to become an important part of the industry. Allowing consumers a more sociable way of consuming cannabinoids, food and drink have the potential to make cannabis and CBD as mainstream as alcohol.

The Supreme Cannabis Company (TSX.V: FIRE) (OTCQX: SPRWF) (FIRE Profile) established 7ACRES as the first licensed producer focused on growing high-quality cannabis in high quantities. Last month, Supreme announced that its initial 7ACRES product was available exclusively online through Canada’s provincially regulated adult-use channels. The full line of 7ACRES products will be available soon both online and in brick-and-mortar stores.

A specialty pharmaceutical company focused on cannabinoids and novel drug delivery systems, Insys Therapeutics, Inc. (NASDAQ: INSY) is involved in several studies with the University of California San Diego School of Medicine. Covering issues such as anxiety, autism and early psychosis, these studies are exploring the untapped potential of CBD. If they prove successful, then the market could see it used in treating a wide range of health problems.

Many companies are working in the cannabis sector and so are now relying on suppliers to tackle problems of distribution and supply. Fortunately, other companies are rising to the challenge, allowing this new industry to sustain its extraordinary growth.

For more information on SinglePoint, visit SinglePoint, Inc. (OTCQB: SING)

About CannabisNewsWire

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

Acquisitions and Growth Expand in Canadian Cannabis Market

CannabisNewsWire Editorial Coverage: The first wave of companies to enter the Canadian cannabis industry were grounded in medical marijuana, which was legalized in 2001. As the country prepares for legalized adult recreational-use this summer, new recreational brands are joining the scene, and many companies rooted in medicinal cannabis are taking action to participate in this second wave of the Canadian market. With its strong branding and modern store design, Choom Holdings, Inc. (CSE: CHOO) (OTCQB: CHOOF) (CHOOF Profile) is branded to appeal to the Canadian adult consumer ready to experience the cannabis lifestyle. Aurora Cannabis, Inc. (TSX: ACB) (OTCQB: ACBFF) is making strategic investments to establish footing in the recreational sector, while OrganiGram Holdings, Inc. (TSXV: OGI) (OTCQB: OGRMF) is taking measures to increase its production capacity ahead of a surge in product demand. Supreme Cannabis Company, Inc. (TSXV: FIRE) (OTC: SPRWF) has entered into multimillion-dollar agreements to supply cannabis to retail-oriented companies, and in Quebec, Hydropothecary Corp. (TSXV: THCX) is expanding its greenhouse capacity to potentially increase its cannabis production to 30x its current volume.

Highs Coming for Canadian Cannabis

As established companies get serious about brand expansion, supply agreements, and potential retail revenues, investments within Canada’s cannabis sector are soaring. The industry saw $1.2 billion investments in January alone – a 600 percent increase over the previous year – setting an incredible pace for continued growth. Currently, the State of California is the largest legal cannabis market in the world. With a population nearly as large as California’s and an influx of cannabis capital, Canada is on track to potentially become one of the world’s largest recreational-use markets. The country’s combined medicinal and recreational market size is expected to reach $6 billion by the year 2021, surpassing the value of its whiskey and spirits industry.

While the Canadian cannabis industry has found impressive success with medicinal marijuana in recent years, a different approach will be needed to target recreational consumers. Cannabis producers that recognize this tremendous potential are pursuing investments in recreational brands that appeal to the retail market. One of Canada’s most recognizable cannabis producers, Aphria, Inc. (TSXV: APH) (OTC: APHQF), recently shelled out $230 million to acquire recreational brand Broken Coast – one of many M&A deals within the burgeoning industry.

A Relaxed Brand for a Relaxing Product

One of the new companies looking to stake a claim in the recreational market is Choom Holdings, Inc. (CSE: CHOO) (OTCQB: CHOOF). Choom is based in British Columbia, though its hip, modern brand has been designed around the tropical, relaxed ambiance of Hawaii. The company’s name, “Choom”,  and style invoke Hawaiian culture, in particular easy days on the beach and in the countryside enjoying a casual atmosphere that connects with relaxation, which fittingly is one of the main appeals of cannabis. The company’s name, Choom, which means “to smoke marijuana” – comes from a slang word used by a fun-loving group of friends (including former U.S. President Barack Obama) who grew up together in Hawaii during the 1970s.

This relaxed, friendly and informal approach to selling cannabis is designed to tap into a younger market with socially liberal values and disposal income to spare, and differs radically from the marketing focus of medical marijuana companies. The look and feel more closely resembles a food or alcoholic beverage brand, evoking warm feelings instead of healing/medicinal properties, which are the focus of established brands. In short, it’s exactly the sort of approach the recreational cannabis industry will need.

Moving forward, the advantage in the legal cannabis sector seems likely to go to companies such as Choom, which are able to innovate with their branding, creating appealing lifestyle choices. Strict limitations on advertising cannabis will prevent the big medical marijuana players from using their financial clout to dominate the market through saturation advertising, which will create a space for young brands such Choom to grow via agile, modern techniques where traditional approaches aren’t an option.

From Seed to Sale

Choom appears to have another market advantage with its vertical integration. The business has a seed-to-sale model that covers the whole cannabis pipeline, from growing and processing the plants to selling the final product in its own stores. This control over the entire business process allows the company to maximize efficiencies and ensure integration along the supply chain.

This advantage starts in the growing facilities, where Choom will fully oversee the growth of carefully crafted strains of cannabis. Existing facilities are planned for Vernon and Chemainus, Canada, to ensure that the company is prepared for the market as soon as possible. Choom is refitting both facilities, a process scheduled to be complete by July, with more than 13,000 square feet of growing space in planning.

Choom has announced a clear plan for its move into this market. With the Canadian cannabis market expected to see dramatic growth in early stages, the company has capacity to expand as needed. A second phase of expansion is in place for both facilities, which will significantly increase the growing space and allow for doubling crop yields by early 2019.

At the sale end of this supply chain are Choom’s dispensaries, which are designed with a clean, stylish, and modern feel, much like a more relaxed version of an Apple store, a favorite of millennials and those with disposable income. These stores have been envisioned to appeal to two different but important market sectors. One is existing cannabis users, who will be looking for more convenient ways to buy their product once the law changes. The other is the group of “curious customers,” who weren’t willing to use cannabis while it was illegal but are interested in trying it now. Choom’s relaxing retail space is designed to draw in customers from both sides, quickly building up a strong high street brand.

Preparing for Change

To power further growth, the company also recently completed a financing initiative, exceeding expectations and raising CAD $2.7 million (http://cnw.fm/AkT9x). The funds are being invested in advancing the company’s development strategy, as well as for growth and acquisitions.

Having recently released the retail design for its dispensaries (http://cnw.fm/DIl3r), Choom is readying those facilities ready for legalization as well.  And with the official launch of its retail program, the company has created the opportunity to develop a chain of branded cannabis dispensaries across Canada (http://cnw.fm/jqn8I).

“Choom is using design and retail strategies that have worked successfully at some of the most profitable storefronts in the country. We are telling our Choom story with our stores and will elevate the concept of a high-quality product though our new retail environments, and we’re inviting others to join us,” Choom president and CEO Chris Bogart stated in the press release.

As the legal cannabis market prepares to open in Canada, Choom appears to have all the pieces in place to create a national premium recreation brand.

A Sector in Waiting

As the creation of Canada’s legal recreational cannabis sector approaches, other companies are also preparing for the change.

One of Canada’s biggest cannabis producers, Aurora Cannabis (TSX: APH) (OTCQB: APHQF), is investing in a range of related companies to set itself up for expansion into the recreational sector. The Vancouver-based organization has invested in The Green Organic Dutchman, a company that produces farm grown, organic, pesticide-free medical cannabis in small batches using all natural, organic craft growing principles. It has also teamed up with Liquor Stores NA Ltd. (TSX: LIQ) to convert existing retail outlets into cannabis retail stores.

Another licensed producer of medical marijuana, OrganiGram Holdings (TSXV: OGI) (OTCQB: OGRMF), recently received an expanded cultivation license from Health Canada, enabling the company to move forward with its expansion strategy that would increase current capacity from approximately 5,200 kg/year to an estimated 16,000 kg/year. Its longer-term plan is to increase production to 65,000 kg/year over the next two years.

Supreme Cannabis Company (TSXV: FIRE) (OTC: SPRWF) has made its mission to grow sustainable cannabis companies to cater to the growing recreational market. To this end, it has invested in late-stage ACMPR applicant company BlissCo, and has agreed to provide cannabis to that company through its 7ACRES subsidiary. 7ACRES will also supply cannabis to Namaste (CSE: N) (FRA: M5BQ) (OTC: NXTTF) subsidiary, Cannmart.

Quebec-based Hydropothecary (TSXV: THCX) has signed a letter of intent with Société des alcools du Québec (SAQ) to supply 20,000 kg of cannabis to Quebec’s recreational cannabis market in its first year of operation. This recent announcement follows news in December that the company added 78 acres of land adjacent to its existing 65-acre facility, and that it is working on a 1 million-square-foot greenhouse designed to increase its production to 108,000 kg per year, 30 times the current capacity.

Based on all forecasts, Canada’s cannabis market is set for significant expansion in 2018. New actors and existing medical companies alike are preparing to seize this opportunity through production, distribution, and retail growth. With a clearly defined growth strategy, Choom Holdings is demonstrating its intention to rapidly become a recognizable national brand.

For more information on Choom Holdings, please visit Choom Holdings, Inc. (CSE: CHOO) (OTCQB: CHOOF)

About CannabisNewsWire

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
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www.CannabisNewsWire.com
303.498.7722 Office
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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.