CannabisNewsBreaks – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Update on Insolvency Proceedings Under the CCAA

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) and certain of its direct and indirect wholly owned subsidiaries (collectively “GGB”, the “company” or the “Applicants”) on Tuesday released an update on its insolvency proceedings under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”). As announced on May 20, 2020, GGB filed for insolvency protection under the CCAA and obtained an order from the Ontario Superior Court of Justice (the “Court”) granting protection for an initial 10 day period until May 29, 2020, as extended until June 12, 2020. According to the update, the Court, on June 2, 2020, granted a motion filed by the company and issued an order. The “Amended and Restated Order”: (i) extends the stay period until August 15, 2020; (ii) increases the amount of the Court-ordered charge over the Applicants’ assets, property and undertakings in connection with the Applicants’ debtor-in-possession financing agreement with All Js Greenspace LLC (“All Js”) (the “DIP Agreement”); (iii) approves the implementation of a sale and investment solicitation process (the “SISP”); and (iv) approves a stalking-horse agreement among the company, All Js and Capital Transfer Agency in its capacity as the debenture holder trustee of the company’s (A) US$45,500,000 aggregate principal amount of 15.00% secured convertible debentures that matured May 17, 2020 and (B) US$23,717,000 aggregate principal amount of 5.00% secured convertible debentures maturing in 2024 (All Js and Capital Transfer Agency in such capacities are collectively referred to as the “Secured Credit Bidders”) pursuant to which the Secured Credit Bidders would act as stalking-horse bidders under the SISP.

To view the full press release, visit http://cnw.fm/b2v0W

About Green Growth Brands Inc.

Green Growth Brands creates remarkable experiences in cannabis. The company’s brands include CAMP, The+Source, and 8 Fold. GGB is expanding its cannabis operations throughout the U.S., via dispensaries in Nevada, Massachusetts and Florida. For more information, visit the company’s website at www.GreenGrowthBrands.com.

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

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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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420 with CNW – US Supreme Court Declines to Hear Ohio Marijuana Decriminalization Case

A campaign to decriminalize marijuana in Ohio has been dealt a major blow after the U.S. Supreme Court declined to hear a case challenging local Ohio officials’ refusal to place decriminalization initiatives on municipal ballots on Tuesday. Back in 2018, activists submitted ballot initiatives to legalize marijuana in Garrettsville and Windham, but the Portage County Board of Elections determined that the initiatives could not appear before the voters.

The board argued that since the proposals constituted administrative rather than legislative issues, they were not appropriate for the ballot process. This led to a two year legal battle between cannabis reform activists and the Portage County Board of Elections, culminating in the Supreme Court’s decision to not hear the case.

Once the ballot initiatives were rejected by the board, decriminalization advocates took the matter to the federal district court. Their argument was that the state statutes that allowed the board to reject the measures violated their First and Fourteenth Amendment rights, thus are unconstitutional. The judge was in agreement and granted them a restraining order and forcing the Secretary of State to let the municipalities of Windham and Garrettsville vote on the proposal.

The district court later issued a permanent injunction prohibiting the state from “enforcing the gatekeeper function in any manner that fails to provide a constitutionally sufficient review process to a party aggrieved by the rejection of an initiative petition.” The victory, however, was short-lived.

The U.S. Sixth Circuit Court of Appeals later reversed the district’s ruling and vacated the permanent injunction. Like the defendants, the appeals court believed that the decriminalization measures were an administrative matter, as opposed to legislative, and this gave the board the right to refuse to place the measures on the ballot. Furthermore, the court stated that the plaintiffs did have the right to seek a “judicially imposed remedy through mandamus relief” but instead chose to challenge the state statute itself.

On Tuesday, Bloomberg’s Kimberly Robinson reported that the U.S. Supreme Court will not be taking up the case. While it is unclear whether this will embolden other boards of election in Ohio to reject certain initiatives, Portage County seems to be an isolated occurrence. 17 cities in the state have passed decriminalization measures, and most of them have been through the ballot.

At the moment, jurisdictions with decriminalization on the books include Toledo, Athens, Cincinnati, Cleveland, Dayton and Columbus, and cannabis reform activists are looking to significantly increase the number of municipalities with decriminalization on their books.

The news of the Supreme Court’s decision is likely to trigger sector players like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) to follow events in Ohio closely in order to see whether lessons there can provide pointers as to what could happen elsewhere.

About CNW420

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

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420 with CNW – Italian Supreme Court Confirms Personal Marijuana Cultivation is Legal

In a landmark decision that triggered anger from the country’s conservatives and calls for further legalization from cannabis advocates, Italy’s Supreme Court has ruled that small scale domestic cannabis cultivation is legal. On December 19, the Court of Cassation was called on by the Supreme Court to give a clear interpretation of the Consolidated Law, the legal framework for dealing with drugs in the country. However, its interpretation of the law, stating that personal cultivation of small amounts of cannabis is legal, went under the radar until after Christmas.

Since 2014, Italy’s law has provided a distinction between softer and harder drugs, with personal possession of softer drugs, like cannabis, incurring a penalty of 1-3 months administrative punishment and harder drugs incurring a penalty of 2-12 months. The Consolidated Law of 1990 made the cultivation and sale of marijuana illegal, and it is punishable under the same system of hard and soft drugs. Over the years, however, different legal cases handled through the system generated contrary decisions, and the law was brought to the Supreme Court and Court of Cassation’s attentions for clarification.

The court declared that the crime of growing narcotics should exclude “small amounts grown domestically for the exclusive use of the grower.” Although it is not clear what amount of cannabis constitutes small scale cultivation, the ruling comes from a case where the offender possessed the plants. “The court has opened the way, now it’s up to us,” said Matteo Mantero, a senator from the co-ruling 5-Star Movement who presented an amendment to the 2020 budget calling for legislation and regulation of domestic cannabis use. However, it was ruled inadmissible by the senate speaker from Silvio Berlusconi’s conservative Forza Italia Party.

The law has been met with stiff opposition from the country’s conservatives, with most conservative lawmakers stating they would squash the ruling if the opportunity arose. “Drugs cause harm, forget about growing them or buying them in shops,” said Matteo Salvini, leader of the right-wing League Party, referring to the proliferation of shops selling low THC cannabis in Italy. According to Maurizio Gasparri, a senator from Forza Italia, which is allied to the League, the center right coalition would, if it came to power, “will cancel the absurd verdict of the court.”

It would be interesting to hear what North American cannabis companies like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) have to say about the best way for the Italian lawmakers to reach a compromise on the verdict of the Supreme Court.

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420 with CNW – Cannabis Could Prevent Coronavirus Infection, Canadian Study Finds

A little over four months after the coronavirus was first identified in Wuhan, China, the virus has infected over 4.5 million people worldwide and left at least 300,000 dead, and the hunt for a cure and ultimately a vaccine is raging on. However, due to insufficient data on the novel coronavirus and its penchant towards mutation, scientists are basically shooting in the dark and hoping for a favorable outcome. There have been rumors of numerous cures for the virus, from the anti-malaria drug hydrochxychloroquine, herbal cures and coronavirus oils to cannabis, all of which have been dismissed.

However, based on the results from a preliminary study, proponents of cannabis as a cure or means of prevention against the coronavirus shouldn’t give up just yet. Scientists conducting a study at Canada’s University of Lethbridge are now theorizing that certain strains of cannabis may possibly prevent COVID-19 infection. After studying over 400 strains of marijuana, the researchers concluded that at least a dozen of them helped in preventing the coronavirus from having a host in the mouth, intestines and lungs.

According to the study’s head researcher Dr. Igor Kovalchuck, “a number of them have reduced the number of the virus receptors by 73%, and the chances of it getting in is much lower. If they can reduce the number of receptors, there’s much less chance of getting infected.” The study, which was published April 19 on Preprints, a platform of early versions of research outputs, states that all cannabis plants for the study were grown in a licensed facility at the University of Lethbridge to obtain the extracts, which were then applied to artificial human 3D tissue models of oral, airway and intestinal tissues.

The researchers identified 13 CBD extracts that are able to change the levels of enzyme ACE2 which has previously been linked to COVID-19 infection. Some strains were also found to control serine protease TMPRSS2, another protein that facilitates the infection of COVID-19 into host cells. The study concluded that the extracts, “pending further investigation, may become a useful and safe addition to the treatment of COVID-19 as an adjunct therapy.”

Once the study is peer reviewed and more research proves cannabis’ viability in preventing coronavirus infection, “the extracts can be used to develop easy to use preventative treatments in the form of mouthwash and throat gargle products for both clinical and at-home use. Such products ought to be tested for their potential to decrease viral entry via the oral mucosa. Given the current dire and rapidly evolving epidemiological situation, every possible therapeutic opportunity and avenue must be considered.”

Industry watchers say such research findings come as good news to marijuana companies like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) who have always said that the full medical benefits of this versatile plant will takes years or even decades to be fully documented.

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CannabisNewsBreaks – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Obtains Initial Order Granting CCAA Protection

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) today announced that it and certain of its direct and indirect wholly owned subsidiaries (collectively the “company” or the “applicants”) have filed for insolvency protection under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”). The company has obtained an order from the Ontario Superior Court of Justice granting the applicants protection under the CCAA. Ernst & Young Inc. (“E&Y”) has consented to act as the court-appointed monitor of the applicants. The court has granted CCAA protection for an initial 10 day period, which expires on May 29, 2020, and is subject to extension thereafter as the court deems appropriate. Creditors and others are stayed from enforcing any rights against the applicants while under CCAA protection.

To view the full press release, visit http://cnw.fm/4UrG6

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CannabisNewsBreaks – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Update on May Debentures

Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) today announced that an event of default has occurred in respect of its US$45.5 million principal amount of 15.00% secured convertible debentures, which matured on May 17, 2020. As previously disclosed, Green Growth Brands received, on May 5, 2020, US$400,000 of debt financing from All Js Greenspace LLC (“All Js’) on a secured basis. On May 12, 2020, All Js’ advanced, also on a secured basis, an additional US$400,000 to the company.

To view the full press release, visit http://cnw.fm/oX6Vi

About Green Growth Brands Inc.

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

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420 with CNW – Amendment Paves Way for More Medical Cannabis Business Licenses to Be Issued in Missouri

The Missouri House has voted in favor of an amendment that would lift the cap on the state’s medical marijuana licenses. This would allow essentially any business owner who meets minimum state requirements to secure a license. If the state Senate passes the amendment, it would open up Missouri’s market to more cultivators, manufacturers, and dispensaries.

“We have a great opportunity in Missouri to create thousands of jobs like Colorado, California, Oregon, Washington, Alaska, and Florida. Embrace the farmer, embrace the opportunity. Give Americans the right to succeed or fail,” says KC Clark, a local cannabis advocate and CEO of Cannabis Startup Incubator.

The amendment is in reaction to a flurry of appeals, and lawsuits from rejected applicants who argue the state’s blind scoring system is flawed. The state awards a 30% scoring bonus to businesses in ZIP codes with an employment rate of 85 to 89.9% and a 40% scoring bonus to ZIP codes with an employment rate of 0 to 84.9%.

They claim that deterministic economic impact solely by ZIP code is inaccurate and that the ZIP code data, which was gathered from the U.S. Census Bureau from 2013 to 2017, is out of date. On top of that, they say that by the time they realized the state would award more points to low-income areas, they had already made plans and secured leases.

Rep. Ben Baker, the sponsor of the amendment, says that although he did not vote to legalize marijuana, he doesn’t support government monopolies. “It’s very clear it hasn’t been a fair process, it hasn’t been transparent, and definitely not a competitive process.” He introduced the amendment after listening to hearings conducted by a Missouri House Special Committee.

It was investigating complaints of large, out of state businesses being awarded most of the licenses, conflicts of interests, and changes to state criteria as the marijuana program was mid rollout. Baker argues that lifting the cap would be a great way for the state to generate more revenue during the post-coronavirus economic slump.

“If we lift the caps, then we can see a robust and rapid recovery for at least one sector of our industry: farming, agriculture, home grow and holistic medicine, local stores, and shops,” says Cannabis Startup Incubator CEO KC Clark.

“It’ll be better in a lot of ways. It drives costs down and it helps to suppress the black market. And especially in a time when people are scrambling for jobs. It’s a job creator,” says amendment sponsor Baker.

Industry watchers believe the entire industry, including Round Meadow Holdings Corp. and Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF), is hoping that the amendment is passed so that a lot more people have a chance to get a business license.

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420 with CNW – 5 Apps for Different Cannabis Users

We live in an age where technology can be applied almost anywhere, and with great success. Anytime you get a little comfortable in your ways, some new kind of tech that greatly optimizes and enhances the experience comes out. The world of cannabis is no different, and there’s a decent number of useful cannabis apps out there.

You may be wondering how a cannabis app would help you. Well, they can do everything from calculating the proper dose of CBD to helping you maximize your yields. Bottom line is, they can be super helpful when they’re used correctly. Our top five cannabis apps are;

Weedmaps is a veteran among cannabis apps. It has been around since 2008 and is arguably the best source of information on cannabis, CBD sellers, and the products they sell.

The app, as well as the Weedmaps website, allows consumers to find local cannabis products, dispensaries, and brands as well as check updated menus, find deals, and place orders online.

Droppy is a must-have for anyone who uses CBD for medical reasons. One area that cannabidiol is sorely lacking in is dosage, and Droppy can help you figure out just how much CBD you ought to take. Once you input relevant information like your age, weight, symptoms, and the CBD product you’re using, the app calculates the proper dosage in milligrams.

Droppy will even give you the exact number of drops you need to take. It also allows you to set reminders, keeps track of CBD product usage, and generates weekly and monthly reports. On top of that, Droppy features articles on topics related to CBD research and innovations.

Grow Jane is for anyone interested in growing cannabis. It guides you through all the steps of cultivation, from germination to flowering by helping you set up calendars, reminders, charts, and other relevant tools.

Once you’ve chosen your environment (indoor or outdoor), you set up a calendar with all the activities that need to be done during the plant’s life cycle. You will also have access to a community of fellow cannabis growers where you can share information and advice.

PotBot allows you to find the most suitable strains for whatever ails you. All you have to do is input relevant information like your age, symptoms, previous experience with cannabis, and location. The app then scours the surrounding area for the most suitable strains.

Bud Farm caters to those interested in cultivating but aren’t quite ready to start. It provides a simulated experience of the entire cultivation process, from planting the seed, watering, trimming and harvesting the plant to running a cannabis business.

You can learn a lot about cultivating cannabis through the app, and it may give you the courage to finally do it in real life.

It is widely believed that not even cannabis insiders like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) expected technology to be so widely available on nearly every aspect of the industry so soon after some markets were opened to marijuana. This goes to show how far-reaching the benefits of legalization can be.

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420 with CNW – Colorado Considers Retaining Marijuana Pick-Up Once Coronavirus Outbreak Ends

Once it became clear that the coronavirus wasn’t just passing by, governments all over deployed measures to help curb its spread. Social distancing and self-isolation were at the top of the list, along with shutting down all but the most essential businesses. In most states with legal marijuana programs, the cannabis industry was also deemed essential.

State governments also relaxed their cannabis laws and allowed online ordering and curbside pickups to further reduce the risk of contact between employees and customers. The response to these measures has been positive, and there have been calls for them to stay in place even after the virus runs its course.

Before the pandemic, Colorado law didn’t allow online ordering and curbside pickups. Now, stakeholders and customers alike can’t have enough of it. Coupled with curbside pickups, it is fast, efficient, and safe.

“I’d like to see the curbside option stay around after this, even with core restrictions in place,” says Hannah Munsterman, general manager of the Clinic’s dispensary in the Highland neighborhood. “That way, we still have limited exposure from people coming in the store.”

With experts saying that the coronavirus pandemic might last two years, it wouldn’t be such a bad idea to extend curbside pickups.

Although Governor Jared Polis’ office declined to comment on any possible extensions, the state Marijuana Enforcement Division (MED) has stated that it might be possible to extend curbside ordering. The agency is responsible for executing the governor’s orders with respect to the cannabis industry.

According to Shanon Gray, the MED’s communication director, the department couldn’t allow long term ordering from dispensaries unless there is a statutory change or Governor Polis issues another executive order. It is, however, looking into whether curbside ordering can remain without a regulatory update.

“We understand our stakeholders’ interest in maintaining a range of options they can utilize to serve their customers consistent with social distancing guidelines. On that front, we are currently evaluating which provisions we have the ability to implement on a long term basis,” says Gray.

“Absent those changes, licensees should keep in mind the 120-day timeline that applies to the emergency rules.” She says that the MED is using this period to “reflect on what worked well and what didn’t and considering new information gained through these efforts to streamline our operations and in future rulemaking efforts where applicable.”

“This last month required a quick shift to remote work options and heavier reliance on technology, and we anticipate this experience will lead to more conversations about how we can better leverage technology to serve our customers,” she adds.

It would be interesting to hear the views of industry actors like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) regarding which of the measures introduced during this pandemic can remain after the situation has returned to normal.

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420 with CNW – Medical Cannabis Telehealth Approved During Coronavirus Pandemic

With the coronavirus outbreak ravaging most continents, we’ve been forced to find ways to keep crucial services running. The internet has played an integral role, especially in regard to meetings, learning, and shopping. One other crucial contribution has been telehealth.

Most doctors prefer face to face visits but that has been made impossible by the current services. Telehealth is a good alternative, providing patients with the healthcare they need with zero risk. And since insurers and the federal government started covering virtual visits, states have begun allowing medical marijuana to be prescribed virtually.

The medical cannabis industry provides employment to hundreds of thousands of workers and medicine to millions. Most states that allow cannabis deemed the industry essential, giving cannabis dispensaries permission to keep operating during the lockdown. More than two dozen of those states have temporarily permitted prescribing medical cannabis virtually.

Although the conditions for virtual healthcare may vary, with some demanding initial physical visits, most states allow something similar to Maryland’s: “Upon termination of the state of emergency, this bulletin will terminate and certifying providers may no longer issue a written certification via telehealth.”

The practice is relatively new in the medical marijuana space, and some doctors and patients are warming up to it. Jordan Tishler, MD, runs a medical cannabis practice in the Boston area, and he prefers to be in the same room as his patients. However, after a month of just virtual visits, he says he has found “telemedicine works well for what I do.”

“It’s mostly talking and at the end, patients get an electronic copy of everything. They don’t even have to take notes,” says Leslie Mendoza Temple, MD, director of North shore Medical Group’s Interactive Medicine program in Chicago. She is also on the board of the advocacy group Doctors for Cannabis Regulation (DFRC).

According to Mendoza Temple, she is just as busy as she was before the pandemic. She hosts intractable pain group meetings via Zoom where she shares the risks and benefits and offers Q&A sessions. She holds individual virtual visits for each patient as well. “I don’t feel like it’s much, much different than the in-person visits I did before,” she says.

The almost seamless transition into telehealth may be because medical marijuana appointments rarely called for physical visits, even before the pandemic.

Advocates say that states should make this model permanent after the coronavirus outbreak dies down. “Patients love telemedicine. Even before the pandemic, patients and us were advocating for it. Our biggest concern is, can we continue to have this after the pandemic is over because it is a really useful resource,” Debbie Churgai, director of Americans for Safe Access, a medical cannabis advocacy group says.

Experts believe this new option if interacting with medical marijuana health professionals is a welcome development to marijuana industry players like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) who were worried patients would suffer due to lack of physical access to their doctors.

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