The past few years have seen a wave of cannabis reform sweep across the United States. By the end of 2020, more than 30 states had legalized either recreational or medical cannabis, and several others were considering decriminalizing the controversial drug. The wave of cannabis reform has now reached the South after lawmakers in Virginia passed two cannabis legalization bills, making Virginia the 16th state in the country and the first in the South to legalize recreational cannabis.

However, a legislative committee will have to iron out the differences between the two pieces of legislation for Virginia to move forward with legalization. Since Gov. Ralph Northam and top state lawmakers unveiled a cannabis legalization proposal, several committees and subcommittees have gone through and amended the bills. The House approved the first bill in a 55-42 vote, and hours later, the Senate approved its legalization proposal with a 23-15 vote.

According to Sen. Adam Ebbin, sponsor of the bill, cannabis prohibition in the Commonwealth of Virginia has “clearly failed.” He calls the bill a forward-thinking, deliberative approach to create a regulated recreational cannabis market in the state. Speaking on the floor, he noted that the legislation will help reform Virginia’s criminal system and start the long process of undoing the harm caused by the decades’ long war on drugs.

During the floor debate, delegate Don Scott said the proposal would “provide social equity” and help improve the communities that have been most impacted and harmed by cannabis prohibition. The House version of the bill will head to the Senate while the Senate version would go to the House for consideration. A bicameral conference committee will be created to resolve the differences between the two bills and merge them into one proposal that the legislature will send to the governor’s desk.

One major difference that the committee will have to resolve is whether vertical integration will be allowed once the state launches its recreational cannabis market. At the moment, the bills would not allow the existing four vertically integrated medical marijuana operators in the state to transition to the recreational market. Additionally, the bills also call for launching a recreational cannabis market a year later than Northam wanted on Jan. 1, 2024.

Such a delay would give lawmakers enough time to create the Cannabis Control Authority, an independent agency to oversee the recreational cannabis market and to develop rules and regulations. Ebbin supports the delay, saying it will take time to do things right and launch the state’s cannabis market.

Virginia’s legalization issues aside, companies in other jurisdictions are thriving. A clear example is Grapefruit USA Inc. (OTCQB: GPFT), which has specialized in cannabis manufacturing, distribution and addressing the lifestyle needs of consumers under its Rainbow Dreams brand.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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

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Earlier this week, three leading advocates of cannabis reform stated that reform would be a priority in the new Democratic Senate in 2021, adding that they planned to release draft bills in the coming weeks to start a conversation about what federal policy changes would be made.

In a joint statement, Sen. Cory Booker, Senate Committee Chairman Ron Wyden and Senate Majority Leader Chuck Schumer stated that putting an end to marijuana prohibition was necessary in order to end years of harm inflicted on people and communities of color across the nation as well as right the wrongs of the failed war on drugs; the trio noted that this still wouldn’t be enough.

Each of the legislators have championed federal legalization, stating that lawmakers should approve measures that will uplift individuals who have been unfairly targeted by the drug war, particularly now, as more states are moving toward legalizing the medicinal plant.

The legislators stated that they were committed to working together to present and advance broad marijuana reform laws that would not only abolish the destructive consequences of these discriminatory policies but also help move on from this sad part of American history. They added that the Senate would give precedence to the conversation on these reforms.

The senators stated that they planned on releasing a united discussion draft on broad reform to implement responsible regulations and taxes, protect public health and establish restorative justice measures.

Last year, a bill introduced to the House to deschedule marijuana federally was cleared. However, it did not advance to the Republican-controlled Senate. Democratic legislators emphasized that Democrats being the majority in the chamber is vital for any broad reform to be approved this year.

NORML Political Director Justin Strekal stated that after years of Senate Minority Leader Mitch McConnell mocking and neglecting cannabis policy reform, it was encouraging to see Senate leaders coming together to rescind the cruel and senseless policy of cannabis prohibition.

Strekal added that legislators looked forward to engaging with communities that had been the most affected historically by criminalization, other organizations and Congressional leaders, with the aim of ensuring that the most comprehensive and strongest bill is drafted — a bill that would make it possible to right the wrongdoings of almost a century of federal marijuana prohibition.

In a press release, Rep. Earl Blumenauer stated that he was encouraged to see that the new majority in the Senate was prepared to make headway on broad marijuana legislation. Blumenauer, who is the co-chair of the Congressional Cannabis Caucus, has spent decades working to put an end to cannabis prohibition.

Meanwhile, in jurisdictions where cannabis is already legal, different companies are introducing a variety of innovative products aimed at addressing the needs of the public. For example, L.A.-based Grapefruit USA Inc. (OTCQB: GPFT) has a proprietary cannabis time-release system that helps patients benefit from their cannabis medicines delivered topically.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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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Grapefruit USA (OTCQB: GPFT), a premiere fully licensed California-based cannabis company, has announced that its patented Hourglass(TM) time-release THC+cannabinoid delivery cream is now available in California through Weedmaps’ retail online platform. GPFT’s disruptive Hourglass product features a patented technology that overcomes the challenge of efficient skin absorption of THC and other cannabinoids. The topical cannabis delivery cream enables users to see positive results of a predictable delivery of THC/cannabinoids over time. “The approval of Grapefruit on the Weedmaps’ cannabis product platform represents a milestone for our company because it affirms Hourglass’ efficacy and makes it simple for our clientele to locate and therefore purchase Hourglass at retailers throughout California,” said Grapefruit CEO Bradley Yourist in the press release. “Our customers can simply go online to both locate brick and mortar stores that inventory and sell Hourglass, or order it online and have it delivered directly to their home or office in California via licensed retailers. Another step forward in the dawning of the age of Hourglass. We anticipate that our new Weedmaps listing will not only attract many new retail customers for Hourglass and other Grapefruit products, but will also expose the ‘Grapefruit’ corporate name, and Grapefruit’s trademarked ‘Hourglass’ name on our OTCMarkets ticker symbol ‘GPFT’ to a new, massive national and international cannabis-centric audience which is constantly seeking innovative technology based products such as Hourglass in the cannabis space.”

To view the full press release, visit https://cnw.fm/RrZRU

About Grapefruit USA Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, California. To find out more about the company, please visit www.GrapefruitBlvd.com.

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Grapefruit USA, Inc. (OTCQB: GPFT), a premiere fully licensed California-based cannabis company, recently updated and clarified recent developments concerning its patented breakthrough, disruptive Hourglass(TM) time release THC+ Cannabinoid delivery cream. Grapefruit entered into an Exclusive License and Supply Agreement with Zylö Therapeutics Inc., of Greenville, S.C. on July 27, 2020, marking the successful completion of the seventeen-month development of Hourglass(TM), the only topical delivery technology capable of efficaciously crossing the transdermal barrier.

Commenting on the steady growth in market capitalization and daily trading volume, Bradley J. Yourist, Grapefruit’s CEO stated, “It has been satisfying to watch our market capitalization grow from $11,809,990 on July 27, 2020 when we made the first major Hourglass project press release to $30,282,026 at the close on January 15, 2021 and our average daily volume increase from approximately 200,000 shares per day to approximately 1,114,165 shares per day over the same period. We sincerely believe we can significantly improve on this performance by the end of 2021 as Hourglass(TM) enjoys rapid acceptance in the cannabis market and we grow our other divisions.”

To view the full press release, visit https://cnw.fm/b4IDc

About Grapefruit USA, Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com

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