Tag: GRBX

420 with CNW – Millennial Consumers Drive the Market for Craft Marijuana

As more states and countries around the world legalize marijuana, a new trend is emerging where some consumers are ditching the “cheap, generic” cannabis for specialty “craft” products. Millennials are the largest fraction of this connoisseur group of consumers.

It is true that marijuana prices have been dropping like a rock ever since cannabis was legalized in different states. Such price drops target making marijuana affordable to the mass market that is simply interested in getting hold of some cannabis for recreational (adult-use) or medical purposes.

Like all products, however, a segment of the consumers is more discerning and is willing to pay more for an artisan product which is superior to the mass market variety.

These high-end consumers pay more attention to the specific characteristics of the different strains and where those strains were grown (and, of course, how they were grown).

The tastes of these high-end consumers would not widely differ from what is seen in the wine industry where certain consumers look down on those who imbibe the cheap stuff. Call it some form of snobbery if you like, but it is a differentiation in the market that can make some entrepreneurs very rich once they address the needs of those niche markets.

It isn’t far-fetched to think of an “appellation system” for the cannabis industry where some strains are legally connected to certain geographical locations. Once again, lessons abound in the wine industry where champagne is from a particular region of France for quality reasons. The same can easily exist for the marijuana industry.

More attention is likely to be paid to the quality of marijuana as the industry matures. Don’t imagine that quality is entirely dependent on how much THC or CBD is in a given product. After all, alcohol quality doesn’t depend on the alcohol content of a given alcohol brand.

Other attributes, such as flavor, mood enhancement and medicinal value, will take on increasing importance for both cultivators and consumers.

All these benefits will start taking shape when cannabis is legalized more widely, such as at the federal level in the US. As things stand, companies are barely able to make a profit from the mass market, so it can be hard for them to invest for niche markets that aren’t sizeable enough as yet.

For now, one can only look forward to a future where there will be cannabis on the shelves for every kind of consumer, including those who demand and can afford artisan marijuana products. Green Hygienics Holdings Inc. (OTC: GRYN), GreenBox POS, LLC (OTC: GRBX) and other cannabis companies feel that future isn’t as far off as one may think.

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420 with CNW – First Cannabis Restaurant in the UK Set to Open

A restaurant that will offer meals infused with cannabis is due to open in the UK on December 1. The vegetarian and vegan dishes served at this Brighton restaurant will be infused with CBD compounds extracted from the cannabis plant.

The Canna Kitchen aims at changing the way people look at marijuana. The range of vegan and vegetarian dishes infused with CBD will show that marijuana isn’t just for recreational use. The restaurant wants to show the different fragrances, flavors, therapeutic and nutritional benefits inherent in the cannabis plant.

However, a client will first place an order to have his or her meal infused with CBD. This means that vegans or vegetarians who aren’t interested in sampling the cannabis-infused offerings can still dine at the restaurant.

It should be remembered that cannabis is a restricted substance in the UK and only became legal for medicinal use on November 1 this year. Those found in possession of cannabis may be jailed for five years while those found distributing it can be imprisoned for 14-years or face huge fines.

So, how will “The Canna Kitchen” operate legally? The laws in the UK permit the use of the non-psychoactive compounds in the marijuana plant. This means that the restaurant can freely use CBD and other non-psychoactive cannabinoids in its dishes without contravening any existing laws.

Cannabis is still highly restricted across the world. Only a few countries, including Canada and Uruguay, have legalized recreational marijuana. Ten states in the U.S. have permitted recreational marijuana and there are campaigns to end prohibition in more states.

Medical marijuana has fared better across the world with more countries making it legal nearly every month. This growing interest in cannabis has prompted many huge multinationals like Coca Cola to explore avenues of making cannabis-infused drinks so that the companies cash in on the wave of popularity that has engulfed marijuana. That wave of popularity is projected to be worth approximately $75 billion by 2030. That is such a huge magnet to anyone looking for a money-making opportunity.

Against that backdrop, the idea behind The Canna Kitchen is likely to trigger other entrepreneurial ventures all geared at bringing more cannabis-infused products to the market. After all, marijuana is now the new “cool” and even politicians are falling over each other to show support for legalization.

Existing industry players like GreenBox POS, LLC (OTC: GRBX) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) welcome the initiative taken by the brains behind The Canna Kitchen. Such efforts will be remembered when the cannabis industry becomes fully established around the world.

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420 with CNW – Mexico Could Soon Legalize Recreational Marijuana

As the U.S. is still grappling with how to deal with the legalization of recreational cannabis in Canada, its challenges are likely to increase if what is happening in its other neighbor’s legal system results in the legalization of recreational pot.

Last week, the Supreme Court in Mexico made two rulings to the effect that it was unconstitutional to prevent adults from consuming marijuana if they so wished. The cases that resulted in those rulings had been filed by individuals who were challenging the constitutionality of stopping them from consuming recreational marijuana.

The court observed that adults have the right to choose whether or not to consume cannabis, so it is improper to deny them that right.

Between 2015 and 2017, three similar rulings were made by the Supreme Court, which is the highest court in Mexico.

The court ruling also indicated that the right isn’t absolute, so the state still has the mandate to restrict the exercise of that right. Individuals must therefore argue their case before the judicial system in order to get express permission to consume a restricted substance.

However, the previous three rulings on the subject now bring the total number of similar rulings by the Supreme Court to five. Under Mexican law, any subject that accumulates five similar rulings in the Supreme Court sets a precedent which all the other courts must follow.

In effect, that means that no court will be able to object to anyone who applies to start consuming recreational marijuana. The bigger implication is that the way has been cleared for recreational marijuana to be legalized since the legislators cannot leave such an issue unregulated now that the Supreme Court has made five rulings in favor of the complainants who challenged the constitutionality of the criminalization of adult-use marijuana.

A similar scenario played out over same-sex marriages. The Supreme Court made five rulings allowing gay couples to wed so it was no longer possible for such a marriage to be blocked through judicial means. However, no law has been passed as yet to regulate same-sex marriages.

Recreational marijuana is different in that the way may have been opened for thousands or even millions of people to apply to the courts of law in order to be allowed to consume recreational marijuana. Such a possibility can choke the legal system, not to mention the public health and safety concerns that may arise when such a large number of people is allowed to consume recreational marijuana in the absence of any laws to regulate such consumption other than the requirement that the individuals don’t sell the substance.

It is therefore likely that the country’s legislative body (congress) will soon draft a law to regulate recreational marijuana. Medical marijuana became legal in 2017, so it isn’t as though drafting laws on marijuana will be a new thing for the legislators.

It remains to be seen how the U.S. will respond to the legalization of recreational marijuana by all its neighbors. Already, the government has been fighting the smuggling of marijuana from Mexico. Companies with interests in the marijuana industry, such as GreenBox POS, LLC (OTC: GRBX) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) may be pleased that additional markets will soon open and increase their opportunities.

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420 with CNW – Study Shows that Marijuana Ingredient Lowers Public Speaking Anxiety

A randomized, double-blind study in Brazil has found that individuals who suffer from public speaking anxiety can be helped by consuming cannabidiol (CBD). The findings of this study were released in the Brazilian Journal of Psychiatry.

Some 57 participants were recruited to take part in this study. These participants were divided into four groups with each group being given a placebo, 150mg, 300mg or 600mg of cannabidiol (CBD).

The researchers asked the participants to watch a short video and then prepare a four-minute speech based on the material in that video.

Those participants were then asked to self-assess on the anxiety levels before, during and after making that speech. The known bio-markers that are affected by public speaking anxiety, such as blood pressure, heart rate and sweating were monitored during those different stages of the presentation.

Previous studies on this same issue had suggested that CBD can mitigate public speaking anxiety depending on the dose given to the individual. The Brazilian research had similar findings.

The results revealed an inverted U when the impact of CBD on anxiety was assessed. The inverted U means that little effect was registered at lower CBD doses and the impact kept increasing until a certain point when higher doses of CBD showed a reducing effect on the “stage fright” experienced by the participants before, during and after the speech.

Specifically speaking, the group which received 150mg of CBD didn’t have any different anxiety markers from the placebo group. Similarly, those who got the higher dose of 600mg of CBD also barely differed from the placebo group.

These results show that additional studies need to be carried out to ascertain the specific “sweet spot” that provides the best effects to those who find it hard to stand before a group and express themselves coherently.

These research findings provide additional avenues through which marijuana can be harnessed to address the different challenges that people face in their day to day lives. Such research also calls for an urgent review of the scheduling of marijuana in many jurisdictions, including at the federal level in the U.S. where the plant is considered as something which doesn’t have any medical value. This categorization makes it hard for researchers to access funding to study this plant, and humanity has lost out on endless benefits during this prohibitionist period.

All isn’t lost, however, as the public is taking matters into its own hands and compelling different states to legalize marijuana through ballot measures. Cannabis companies like Green Hygienics Holdings Inc. (OTC: GRYN) and GreenBox POS, LLC (OTC: GRBX) can only wait for that time when prohibition will be ended once and for all at the federal level.

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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 – Canada’s Experiment With Legalized Marijuana Begins

The countdown to the legalization of recreational marijuana use in Canada ended yesterday when retail stores opened for the first time to serve adults who wanted to consume this substance that has been wrapped in a lot of controversy for decades. Legalization day also marked the start of one of the biggest “experiments” in public health policy. This is because cannabis was legalized without fully understanding how different categories of people would be affected by its regular consumption.

Of primary interest are teens and young adults. While federal law places the minimum age for those who can legally buy and consume cannabis at 18, provinces and territories imposed their own age limits with several putting it at 19.

Those age limits still give the scientific community the jitters since there is widespread agreement that a person’s brain continues to develop until that individual turns 25. This means that a young adult or an adolescent will have several years within which to consume a substance that could potentially alter the structure of that person’s brain during these crucial formative years.

Public health groups and the scientific community will be watching this age group closely in order to ascertain the actual impact of cannabis consumption upon them both in the short term and the long term.

The second category of people that has scientists worried is those who are predisposed to developing different kinds of psychosis, such as schizophrenia. Cannabis consumption has been linked to triggering episodes of psychosis, but it isn’t clear exactly how the substance affects the brain in order to trigger the condition.

Younger people are at a higher risk of developing psychosis if those individuals are predisposed to it and consume cannabis early in life. Researchers are ready to study this special group and learn more about the way cannabis affects their brains.

Of special concern to the scientific community are the senior citizens who may consume cannabis now that it is legal. This section of the population is usually overshadowed by the focus centered upon teens and young adults, but they also deserve serious attention.

Seniors often have a number of health conditions, such as high blood pressure, diabetes, arthritis and weakened body systems. It is not known how cannabis will interact with the different medications those seniors are taking for their health challenges.

Sections of the scientific community will be watching these older members of the community closely given that the sharpest increases in cannabis consumption have been registered in this group.

The fourth group that will be watched closely are the pregnant or nursing mothers. The medical community urges these people to refrain from consuming cannabis in the same way that advice is given to avoid other substances like alcohol and tobacco during this stage.

However, advice (professional or not) can either be accepted or ignored. Researchers will therefore be looking out for the impact that cannabis has on pregnant women or those breastfeeding who go ahead and light a joint every so often.

The eyes of the world are on Canada to see how this experiment with cannabis pans out. The results will either encourage other countries to open up to marijuana, or strengthen their prohibitionist positions. Cannabis industry players like Green Hygienics Holdings Inc. (OTC: GRYN) and GreenBox POS, LLC (OTC: GRBX) have their fingers crossed hoping that Canada’s lead is followed by other countries.

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420 with CNW – Colorado Prosecutor Threatens Action Against Marijuana Businesses Violating the Law

U.S. Attorney Bob Troyer, the top federal prosecutor in Colorado, has vowed that his office will take firm action against any legal marijuana business that acts as a front for illegal activity, such as selling marijuana on the black market.

Some growers in various states who are faced with excess production are alleged to have resorted to selling that extra produce to the illegal marijuana market rather than see that cannabis go to waste when the legal market cannot buy it all. Such firms are the next target of enforcement efforts.

The attorney revealed that his office had mainly focused its resources on weeding out those who grow marijuana illegally in forests and in their homes. Legal businesses engaged in illegal activities were now on the radar of the federal prosecutor and the label “compliant with state laws” would not suffice to protect any firm found to be breaking the law.

Troyer added that the interest of the federal prosecutor was in the safety of the public. State laws often address those concerns, but federal laws may be invoked in some cases. Marijuana is still illegal at the federal level.

The spokeswoman for Governor John Hickenlooper responded to Troyer’s statement by saying the state authorities have always enjoyed a good relationship with the feds and they are equally concerned about the safety issues raised.

The spokeswoman added that the state will continue to enforce the law, including criminal enforcement, in case justification exists for such action.

Members of the legal marijuana industry have asked the authorities to identify and root out those breaking the law without putting unnecessary pressure on licensed firms who are following the strict letter of the law under which they operate. They also advised that the authorities discuss any concerns that they may have with the legal cannabis industry instead of taking unilateral action that may be detrimental to all concerned.

Troyer revealed that his office will soon take action against a dispensary chain in the Denver area in the coming days. The name of the targeted dispensary chain was not disclosed in his statement.

It appears that the blitz against cannabis businesses breaking the law will mark the final stages of Troyer’s stay in office since Jason Dunn was selected earlier in June to replace him. Dunn’s nomination is awaiting senate approval before he can take office. Troyer has been in office since 2016 when his predecessor resigned.

Companies like Green Hygienics Holdings Inc. (OTC: GRYN) and GreenBox POS, LLC (OTC: GRBX) must be happy that broader action is being taken to wipe out illegal cannabis activity since it affects the operations of the legitimate businesses in the industry.

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420 with CNW – Malaysia Considers Legalizing Medical Marijuana

A young man aged 29 was arrested, charged and sentenced to death for being found with a few liters of cannabis oil in Malaysia. Cannabis on all its forms is illegal in this Asian country. However, the uproar about that conviction and sentence has forced the cabinet of that country to have a discussion about decriminalizing marijuana for medical purposes. Muhammad Lukman, the young man in question, had argued in court that the cannabis oil and other products were for helping patients suffering from cancer and other terminal diseases.

Change.org drafted a petition calling for Lukman to be freed and that petition has so far been signed by more than 60,000 people.

Xavier Jayakumar, the Minister in charge of Water, Land and Natural Resources in Malaysia revealed that he was comfortable with voting to legalize medical cannabis if it could help patients in the Asian country.

However, he was well aware that convincing his cabinet colleagues to decriminalize marijuana would be no small feat since opinions are strongly against cannabis. Matters aren’t helped by the fact that there is limited research in that country showing the medicinal benefits of marijuana.

The task of changing the legislation of cannabis is likely to be harder given that the health ministry in that country doesn’t believe that cannabis has any medical value. The views of that ministry are likely to carry a lot of weight when that matter is formally tabled for consideration.

This prohibitionist stance by the Ministry of Health in Malaysia is in stark contrast to the counterpart Ministry in Thailand where pressure is being piled on the government to pass legislation allowing cannabis to be used for medical purposes. Such a decision would also boost the economy since Thailand can produce and export the product around the world following the lead of Canada.

It should be remembered that no country on the Asian continent has legalized medical or recreational cannabis. In fact, the possession, trafficking and consumption of cannabis can attract the death sentence in most Southeast Asian countries. Singapore and Indonesia are notable for routinely handing out capital sentences to anyone found using cannabis.

It therefore remains to be seen whether the cabinet’s interest in medical cannabis will mature into a law regulating the use of marijuana for medical purposes, or whether that interest will fizzle out once Mohammad Lukman is spared the death penalty since the cabinet has already agreed to spare him that punishment. The discussions going on in Malaysia could be of interest to companies like GreenBox POS, LLC (OTC: GRBX) and Kolos Beverages Corp. (CSE: KBEV) (OTC: KBEVF) that would relish the chance to operate in a wider market.

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420 with CNW – Cannabis and Crypto

Cannabis firms have fought regulations and misconceptions for quite a long time as they have made attempts to inform the public on the medical benefits of the plant. In the recent couple of years, cannabis companies have started recording a surge in interest, as evidenced by their monthly record sales. Investors in Wall Street project that the industry will attain a valuation of $75 billion by the end of 2030.

Almost coincidentally, cryptos have also been enjoying a surge in popularity, with values of top cryptocurrencies such as bitcoin and Ethereum hitting record levels. Toward the end of 2017, the total market capitalization of the cryptocurrency industry hit $600 billion.

Apart from the growth prospects of the two industries, both experience legal uncertainty, high-risk environments and tighter government regulations. This makes cannabis and cryptos perfect partners.

How Blockchain is Facilitating Cannabis Trade

The blockchain technology that is the backbone of crypto transactions can help the cannabis industry to secure its exchange transactions. The cannabis trade has been criticized for channeling funds into the black market. With the blockchain, these worries can be put to rest and loopholes for fraud and funds leakages into the underworld sealed.

When this happens, both the crypto and cannabis industries can legitimize their activities in today’s dynamic modern economy. For instance, in the United States, only Alaska, Washington, Oregon, California, Nevada, Colorado, Vermont, Maine and Massachusetts have legalized marijuana for both recreation and medical use. The rest of the states have legalized the drug only for medical use.

Using cryptocurrency to facilitate transactions in the cannabis market is hugely important. This is because it widens the playing field and promotes inclusion to other groups all around the globe that previously were secluded from the trade. Since cannabis is still a Schedule I drug together with methamphetamine and heroin, players in this industry are barred from using bank accounts.

Any attempts by the banking system to facilitate cannabis payments could lead to dire legal consequences, including charges for money laundering. The exclusion of the banking system also renders the use of credit and debit cards impossible. Operations for cannabis businesses in the U.S. are cash-based.

Legitimizing the Cannabis Industry through Crypto

Cryptocurrency companies have come up to support trading activities and other development initiatives within the cannabis industry. One of the companies offering blockchain technology solutions customized for the cannabis industry is Pacific Software Inc. (OTC: PFSF). The company seeks to improve the compliance, transparency and efficiency of cannabis supply in states where it has been legalized.

Cannabis companies and traders who want to use the company’s Hyperledger blockchain applications are required to pay transaction fees, cash, loyalties and other forms of payment depending on the nature of the transactions.

GreenBox POS, LLC (OTC: GRBX) has also built customized payment solutions for different industries, including cannabis. The point of sale system is fully integrated, easy to use and intuitive.

By connecting buyers and sellers, crypto firms are creating a legitimate, centralized online meeting place where cannabis enthusiasts can share information and engage with one another. Usually, participants are rewarded with crypto coins that can be exchanged for goods and services or converted to fiat currency.

Any effort to boost accountability and transparency in the logistics and supply chain of cannabis is therefore welcome. The adoption of blockchain technology is yielding positive effects by fighting the social stigma around the sale and use of marijuana. As this positive ecosystem expands, buyers and sellers will feel safe, just like any other participants in a market platform.

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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 – Massachusetts Credit Union to Offer Banking Services to Cannabis Industry

The GFA Federal Credit Union has become the first financial institution to announce that it is opening its doors to recreational and medical cannabis businesses in Massachusetts.

The announcement, due to take effect on October 1, brings a huge sigh of relief to numerous legitimate cannabis businesses that have struggled to attain the same level of recognition as other kinds of legal businesses within the state.

GFA Credit Union revealed that it studied the legal and business sense of making its move for about a year and finally decided to open its doors to this young industry.

GFA’s CEO, Tina Sbrega, said that its decision was primarily motivated by public safety concerns regarding such huge amounts of cash being left on the street. Robberies, money laundering, tax evasion and other related crimes were likely to escalate as the industry, currently worth millions of dollars in the state of Massachusetts, was left to operate as a cash-based industry.

Her public safety concerns are echoed by law enforcement agencies who welcomed the decision to provide banking services to the cannabis industry.

To be fair, Tina Sbrega admitted that GFA stands to benefit by adding businesses in the marijuana industry to its clientele.

However, not all is rosy for the cannabis industry as yet.

Initially, GFA Federal Credit Union will only accept a limited number of cannabis businesses as clients. Those selected businesses must meet all the existing requirements for operating a recreational or medical cannabis establishment. For example, the businesses must be licensed and have a letter of approval from the local authority where that business is based.

This restriction on how many cannabis businesses will be allowed to become GFA clients will leave all the others in the cold, unless more financial institutions step up to the plate and absorb them.

Many financial institutions are likely to drag their feet on this issue since they are unsure about the likely legal complications that may come from dealing with players in an industry that is regarded as illegal at the federal level. However, it is hoped that more will eventually follow GFA’s lead in order to get their cut of the pie presented by the recreational and medical cannabis industry.

The second speed bump for cannabis businesses is that even those lucky few who are taken on as GFA Credit Union clients will not immediately have access to loans to finance their operations. The credit union says that it will consider starting loan disbursements next year.

GFA Federal Credit Union wants to use these initial months of taking on cannabis businesses as clients to study how this relationship pans out before expanding to the provision of loans.

As any optimist would put it, the step by GFA Federal Credit Union may be small, but it is a major trail-blazing step that is sure to change the relationship between cannabis businesses and financial institutions for the better. At the very least, it is a major piece of good news for companies like Green Hygienics Holdings Inc. (GRYN) and GreenBox POS, LLC (GRBX) that may sniff new opportunities for growth and expansion from this horizon that has been expanded by the events in Massachusetts.

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