CannabisNewsBreaks – Green Hygienics Holdings Inc. (GRYN) Names New Head of Quality and Compliance

Green Hygienics Holdings (OTCQB: GRYN), an innovative premium cannabis cultivation and branding enterprise, today announced the appointment of Sid Senroy, MBA, as its Head of Quality and Compliance. In this advisory role, Senroy will facilitate GRYN in establishing cross-functional alliances for improvement and growth, and will work to increase levels of productivity, compliance and efficiencies. “This will directly support the company to achieve its stated objectives to adhere to the highest standards of operations in consistently delivering safe and premium quality products to consumers and that the company intends to be a leader in FDA cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace. We are very excited to have Mr. Senroy as part of the growing Green Hygienics team,” Green Hygienics Holdings CEO Ron Loudoun stated in the news release.

To view the full press release, visit http://cnw.fm/oImX3

About Green Hygienics Holdings Inc.

Green Hygienics Holdings is an innovative, full-scope, science-driven, premium-hemp branding enterprise focused on the cultivation and processing of industrial hemp for cannabidiol (“CBD”). The Hemp Farming Act of 2018 removed hemp from Schedule I controlled substances (defined as cannabis with less than 0.3% THC), making it an ordinary agricultural commodity. GRYN’s mission is to grow the company in a sustainable and profitable manner to be one of the largest industrial hemp-for-CBD producers in North America. The company will adhere to the highest standards of operations in consistently delivering safe and premium-quality products to consumers. GRYN intends to be a leader in FDA cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace. The company’s business model includes generating revenues from the sale of hemp and premium-grade CBD products, creating trusted global consumer brands, developing valuable IP and growing the company rapidly through strategic acquisitions. For more information, visit the company’s website at www.GreenHygienicsHoldings.com.

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

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.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

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

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

Do you have a questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW – 5 Banking Options Marijuana Companies Can Explore

Every month, many marijuana companies across the U.S. have to move physical cash from their premises in order to pay for utilities and other needed supplies and this is a common practice among marijuana businesses. Although marijuana is legal in most states in the U.S., banks that are federally insured have prohibited the opening of accounts for cannabis businesses. This is because they are afraid of being accused of criminal activity since federally, marijuana is a controlled substance under Schedule 1 of the Controlled Substances Act.

The refusal of banks to conduct business with weed businesses has left them with no alternative but to operate on a cash basis. For example, NUG is licensed to cultivate and manufacture marijuana products in its facilities in California, and since it cannot deposit the money in the banks, the only way to safeguard it is to keep it in locked vaults.

The founder and CEO of NUG, John Oram, said that the company headquarters is set up like a casino as it has vaults and electric notes counters. He also noted that a minimum of two employees must be present when a transaction is taking place. Oram further said that the company hired armed guards for cash deliveries from the dispensaries and the guards are also cautioned to switch up their routes to avoid predictability. NUG has 200 employees who are paid in cash. Taxes are also paid in cash.

Oram is hoping to start working with Pacific Banking Corporation to alleviate transacting on a cash basis. Some of the methods marijuana business could use to avoid operating on a cash-only basis include:

PayQwick

PayQwick was formed by two attorneys, and it functions like PayPal. Businesses and customers deposit money into a system that allows them to transact back and forth. It also permits money transfers to and from banks. Farmers can use the app to pay for seeds and soils, while customers can pay for products at the dispensary. The app allows the transfer of money across state lines and takes on the responsibility of federal compliance, such as due diligence and compilation of suspicious activity reports.

CanPay

CanPay is a mobile debit app that is widely used by marijuana retailers and businesses. Customers do not pay extra fees upon making a purchase, and customers can only transact at a maximum of $250 per day. Every time a purchase is made, the same amount is debited in your checking account. Currently, 400 medical and recreational marijuana businesses are transacting using the app.

Hypur

Hypur provides banking institutions with a legitimate way of transacting with highly regulated industries, such as the marijuana industry, through an electronic app. Hypur matches cannabis businesses with banks or credit unions since it has every detail about the financial institutions.

Dama Financial

Dama Financial has a network of all banks that are insured by the FDIC that are interested in transacting with marijuana businesses. The business looking to work with the bank must fill in an online application and agree to an on-site inspection. Once approved, Dama manages the company’s banking services, and this includes transportation of cash to the processing facility and receiving the deposits via ACH wire. The money is deposited in the company’s account the following day.

Local Banks and Credit Unions

Some small banks are open to conducting business with well-organized weed businesses, although many are still wary of marijuana businesses. You can therefore do your homework and find one of these small institutions that can accept your cannabis business as a client.

These options should ease the pressure on marijuana entities like The Green organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) and Green Hygienics Holdings Inc. (OTCQB: GRYN) who may need backup arrangements in case banks pull the plug on them.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

HempNewsBreaks – Green Hygienics Holdings Inc. (GRYN) Announces Strategic Appointments to Management Team, Advisory Board

Green Hygienics Holdings (OTCQB: GRYN), an innovative premium cannabis cultivation and branding enterprise, today announced the appointment of four experienced professionals to its leadership team. New management team and advisory board members include Senior VP of Business Development, Agriculture Division Jerry Halamuda, Senior VP of Corporate Development John Gildea, Independent Director William Creekmur MBA, and Advisory Board Member Edwin Stoughton. “Each of the professionals joining our team adds considerable value to GRYN’s growth strategy,” GRYN CEO Ron Loudoun said in the news release. “The industrial hemp industry is paced for revolutionary progress, and I am pleased to welcome these gentlemen as we compete in this incredible market.”

To view the full press release, visit http://cnw.fm/yF2KM

About Green Hygienics Holdings Inc.

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

About HempWireNews

HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.

To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.HempWireNews.com

Please see full terms of use and disclaimers on the HempWireNews website applicable to all content provided by HNW, wherever published or re-published: https://www.HempWireNews.com/Disclaimer

Do you have a questions or are you interested in working with HWN? Ask our Editor

HempWireNews (HWN)
Denver, Colorado
www.HempWireNews.com
303.498.7722 Office
Editor@HempWire.net

HempWireNews is part of the InvestorBrandNetwork.

420 with CNW – What You Need to Know to Grow Marijuana in a Greenhouse

Growers considering to enter into marijuana production are presented with several possibilities of where to grow. The options include indoors, outdoors, or greenhouses, which is a combination of indoor and outdoor.

There is an increase in popularity for greenhouse farming among marijuana growers. The efficient means of production has forced many cultivators to switch to greenhouse farming of marijuana. Greenhouses offer farmers the ability to control and protect their crops. It is also cost-saving. Besides, it provides the plants with the natural light of growing outdoors.

Marijuana produces high quality and quantity yields if efficient and sophisticated systems of cultivation are in place. Farmers need to consider several factors when planning a commercial marijuana operation in a greenhouse. These include the structure, roofing, and the equipment, which are discussed below.

The Structure Of The Greenhouse

The structure of your greenhouse is the most critical decision you will have to make when choosing a greenhouse for marijuana production. The gutter-connected greenhouse is a versatile option suitable for any grower, especially marijuana growers. Gutter-connected greenhouses are well ventilated, and it can be connected to other standalone greenhouses. They are economical for growers because they are designed to make maximum use of the available farming space. The ability to combine several individual greenhouses makes it easy to integrate service buildings such as mixing areas for fertilization, conditioning, and packaging, as well as the offices and employee lounges.

Another famous greenhouse structure amongst cannabis growers is the ground-to-ground greenhouse. It does not require as much initial investment as the gutter-connected greenhouse. They have a gothic shape that ensures the crops are exposed to a bright environment, thus promoting the uniform growth of plants. They also have a well-ventilated system with a stable climate.

You will have to establish the number of growing zones and square footage you want before choosing your structure. The method you are using to plant your marijuana, such as on the ground, double benches will determine how tall your plants will grow. Your greenhouse structure should be high enough to accommodate your crops.

Your Greenhouse Roofing

When it comes to choosing the roof for your greenhouse, you are presented with several options such as ETFE film, acrylic, polyethylene film, or glass. Apart from the unique characteristics of each option, they all provide excellent conditions for the optimal growth of the crop and access to light and UV rays. Higher UV levels help in increasing the THC levels in your plants.

Equipment for the Greenhouse

Choosing the right material for your greenhouse is as essential as selecting the structure and roofing. When selecting equipment, go for a company that has a reputation for creating the ideal conditions for quality yields. When setting up your greenhouse for operations, you will need to have equipment for heating, cooling, supplemental lighting, irrigation, light deprivation, ventilation, and pest control.

It is essential to consult a seasoned professional if you want great products and services for your greenhouse operation. Industry experts believe that established cannabis companies like Green Hygienics Holdings Inc. (OTCQB: GRYN) and IONIC Brands Corp. (CSE: IONC) (OTC: IONKF) can point interested growers in the right direction so that they avoid making costly mistakes.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

CBDNewsBreaks – Green Hygienics Holdings Inc. (GRYN) Employs Efficient Farming Methodology to Address Scalability Challenges

Green Hygienics Holdings (OTCQB: GRYN), an innovative, full-scope, science-driven, premium-hemp cultivation and branding enterprise, recently acquired an 824-acre Potrero Ranch property, furthering its ability to efficiently produce multiple high-quality harvests (http://cnw.fm/J6u3f). An article discussing the company reads, “With 25 years of experience in agricultural science and innovation, Green Hygienics has solved the challenge of scalability through its farming methodology. In today’s market, inefficient companies and those that produce an inferior product will become vulnerable or disappear, adding considerable value to companies like Green Hygienics that efficiently innovate and operate. Securing the 824-acre Potrero Ranch property, which includes abundant water and over 400,000 square feet of outbuildings, will allow GRYN to achieve multiple harvests of high-quality industrial hemp and accelerate its market position. . . . ‘We have been working at the property under a lease agreement for the last three months purchasing equipment and preparing to begin cultivation immediately,” Loudoun stated in a news release. “The combination of the greenhouse space and acreage will create the capability to produce significant revenues for Green Hygienics.’”

To view the full article, visit http://cnw.fm/4ANcK

About Green Hygienics Holdings Inc.

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

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

To receive instant SMS alerts, text CBDWire to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CBDWire.com

Please see full terms of use and disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://CBDWire.com/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask Our Editor

CBDWire (CBDW)
Denver, Colorado
www.CBDWire.com
303.498.7722 Office
Editor@CBDWire.com

420 with CNW – Marijuana Decriminalization Bill Filed in Wisconsin

On Wednesday, Wisconsin lawmakers filed legislation for decriminalizing marijuana possession. The two democratic representatives together with Lt. Governor Mandela Barnes, who supported the change in policy, held a press conference on the same day to announce the legislation.

Currently, the possession of marijuana in the state is punishable by six months in jail or a fine of $1,000. The legislation which would decriminalize possession of up to 28 grams of weed in Wisconsin was introduced by Democratic Representatives David Crowley and Sheila Stubbs.

In a press release, Crowley said that the war on marijuana possession laws is the reason behind massive mass incarceration in the U.S. The bill should have been approved years ago, he added.

He further said that the state should pass the decriminalization bill to prevent mass incarceration. The war on marijuana has a devastating effect on minority groups, especially for people of color. Crowley further said that the war on drugs and incarceration has led to the destruction of a generation of men and women.

The proposed legislation also mandates the state department of justice to facilitate the expungement of past convictions for marijuana possession.

People should understand the difference between decriminalization and legalization, said the Democratic Senator, Fred Risser. He further said that by decriminalizing cannabis, people found with small amounts of marijuana should not be arrested. However, manufacturing and selling marijuana will be illegal.

In support of the legislation is the Democratic Governor, Tony Evers, who has added it and medical marijuana legalization as part of his budget proposal at the beginning of the coming year. However, Republican leaders argued for the removal of the decriminalization provisions from the marijuana reform plan.

The majority of the state senate are Republicans, and since most of them are opposed to marijuana reforms, supporters of the decriminalization bill should expect resistance. The Senate Majority Leader, Scotts Fitzgerald goes on to say he is a staunch opposer of marijuana reforms, and he is sure that fellow Republicans in the Senate will not support any marijuana legalization bill being tabled on the floor.

According to his spokesperson, the Assembly Speaker, who is a Republican, is also against the decriminalization of marijuana. However, he supported access to medical marijuana by patients, but he stipulated that the medicine be available in pill form.

The residents of Wisconsin are ready for marijuana reforms; however, it is unclear if the decriminalization legislation will be passed into law.

It is widely believed that the entire marijuana industry, including players like Green Hygienics Holdings Inc. (OTCQB: GRYN) and The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) would be happy to see marijuana reforms implemented in Wisconsin and everywhere else across the nation.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Judge Upholds Massachusetts Vaping Product Sales Ban

On Monday, a Massachusetts judge, Douglas Wilkins, refused to reverse the ban on the sale of vaping products, which was adopted after the outbreak of lung illnesses associated with e-cigarettes. However, he instructed the state of Michigan to modify the ban and solicit public comments.

Judge Douglas Wilkins from Suffolk County Superior Court’s ruling was a partial win for Charlie Baker, a Republican Governor who, in response to the outbreak of the lung illnesses, adopted the strictest sales ban. However, Judge Wilkins said that by issuing the ban, Baker overexerted his powers. The judge issued an order that would stop the state from enforcing a ban on the sale of nicotine-vaping products unless defects were detected in the products.

The judge said that by October 28, through an emergency regulation, Baker should reissue the ban and give the vape shops as well as the members of the public a chance to comment.

Products containing THC, which is the psychoactive compound of marijuana, are legal in the state; therefore, they will not be affected by the ban.

Baker’s administration was responsible for ensuring that the order was issued correctly as they prepared for the next steps, said Lizzy Guyton, Baker’s spokeswoman.

The business association was not happy about the ban and said they are working to block it. The group said the ban is a threat to the state’s $331 million nicotine vaping industry, said Tony Abboud, VTAs executive director.

According to the United States Centers for Disease Control and Prevention, the number of e-cigarette lung-related illnesses reported nationally are about 1,479. The Centers for Disease Control and Prevention links most of the diseases to products containing compounds of THC, especially those bought from the illicit market.

Washington-based VTA filed the lawsuit against Baker’s emergency order citing that the mandate was unconstitutional, overreaching, and arbitrary because it was meant to target the youth engaging in vaping activities and the outbreak but ended up banning the sale of vaping products to everyone irrespective of their age.

Other states such as Oregon, Michigan, New York, Rhode Island, and Washington joined in on the ban of e-cigarettes sales, asserting that they are harmful to public health, especially to teenagers.

The ban of e-cigarettes in Michigan, New York, and Oregon has been put on hold by the courts following similar lawsuits.

It is expected that marijuana industry players, such as Green Hygienics Holdings Inc. (OTCQB: GRYN) and Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) may be happy with this ruling since it puts a halt to the arbitrary and farreaching bans that would have been imposed elsewhere.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsBreaks – Green Hygienics Holdings Inc. (GRYN) to Acquire Office, Warehouse Property Near San Diego

Innovative, full-scope, science-driven, premium hemp cultivation and branding enterprise Green Hygienics Holdings (OTCQB: GRYN) today announced that it has opened escrow for the acquisition of its head office and warehouse building in the prominent Poway Business Park located near San Diego, California. “This is a marquis property in a strategic location approximately 45 minutes away from the 824-acre Potrero Ranch Property and just outside of San Diego. The acquisition of this property will immediately deliver positive cash flow from the existing tenancies and provide the company with the use of our head office location at no cost. Our near-term objective is to build a strong balance sheet and establish base cash flow,” Green Hygienics Holdings chief executive officer Ron Loudoun stated in the news release.

To view the full press release, visit http://cnw.fm/Eb21B

About Green Hygienics Holdings Inc.

Green Hygienics Holdings is an innovative, full-scope, science-driven, premium hemp branding enterprise focused on the cultivation and processing of industrial hemp for cannabidiol (“CBD”). The Hemp Farming Act of 2018 removed hemp from Schedule I controlled substances (defined as cannabis with less than 0.3% THC) making it an ordinary agricultural commodity. GRYN’s mission is to grow the company in a sustainable and profitable manner to be one of the largest industrial hemp for CBD producers in North America. The company will adhere to the highest standards of operations in consistently delivering safe and premium-quality products to consumers. GRYN intends to be a leader in FDA cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace. The company’s business model includes generating revenues from the sale of hemp and premium-grade CBD products; creating trusted global consumer brands; developing valuable IP; and growing the company rapidly through strategic acquisitions. For more information, visit the company’s website at www.GreenHygienicsHoldings.com.

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

About CannabisNewsWire

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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

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

Do you have a questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Federal Report Shows More Banks Are Accepting Marijuana Businesses

According to a federal report, there is an increase in the number of banks and credit unions accepting to service marijuana businesses in the third quarter of 2019.

In the first quarter of 2019, there were 493 banks and 140 credit unions accepting marijuana businesses. In the second quarter, the number of banks and credit unions increased to 553 and 162, respectively. They submitted documents showing that they will be conducting business with legal marijuana businesses.

Accepting to conduct business with marijuana companies is viewed as a risky move in the financial sector because marijuana remains a federally controlled substance. However, the increase shows that banks are willing to take the risk as the lawmakers push to solve the issue of marijuana banking.

The Secure and Fair Enforcement Banking Act (SAFE) was approved before the end of the second quarter of 2019 by the House Financial Services Committee. The bill serves to protect financial institutions from being penalized for servicing marijuana businesses.

The bill was voted in by the whole House, therefore sending it directly to the Senate. Providing safe and secure banking services to the marijuana businesses will help mitigate risks associated with operating on a cash-only basis and promote transparency.

Hemp and its derivatives, which were legalized under the Farm Bill in 2018, have been denied access to services by the banks. However, Congressman Perlmutter is focused on ensuring that financial services are extended to hemp and CBD businesses. While in the House last month, the congressman urged the Treasury Department to provide legal hemp and CBD businesses with guidance.

In August, The Financial Crimes Enforcement Network released its latest update on the analysis of suspicious activity reports (SARs) that are filed per the 2014 cannabis banking guidance by the financial institutions under the Obama administration. The report showed that as of the second quarter of 2019, there was a total of 87,249 SARs related to marijuana businesses received by FinCEN.

The SARs were broken down into different types by FinCEN. 67,378 of the SARs were described as Marijuana limited, which referred to marijuana businesses that met the agency standards by complying with the laws of the state.

6,900 were referred to as marijuana priority, which means that the companies were not fully compliant with the state laws; thus, they would be investigated. Twenty-two thousand of the SARs were termed as marijuana termination, which meant that the businesses had violated at least one state regulation, which led to the termination of its relationship with the bank.

Analysts believe that marijuana companies like Green Hygienics Holdings Inc. (OTCQB: GRYN) and HTC Extraction Systems (TSX.V: HTC) hope that the Senate passes the SAFE Act so that this banking issue is solved once and for all.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Five Reasons Medical Marijuana is Overshadowing Recreational Marijuana in the Market

The cannabis industry has created a buzz on Wall Street over the years. This is attributed due to the increased potential of legal marijuana.

Arcview Market Research and BDS Analytics released a report on the state of legal marijuana market, which shows that between the year 2014 and 2018, global sales of legal weed in licensed stores tripled. After investing in the weed industry Wall Street is predicting that on the lower side, annual sales will be $50 billion or $200 billion on the higher side in the next ten years. If their estimate is correct, the marijuana sector will 2 or 2.5 times larger than the soda beverage industry. With this kind of growth, it would be foolish for the investors and Wall Street not to take advantage of the opportunity.

When purchasing cannabis stocks, you have to consider several variables such as supply deals and partnerships as well as the geographical focus.

The report further suggests that recreational marijuana sales all over the world in the year 2024 will be almost double that of medical marijuana. Countries such as Mexico will legalize personal use of marijuana, and this is bound to surpass the medical marijuana sales because patients will see no reason to pay doctors’ consultation fees to access medical cannabis when they can go to the dispensary and buy it.

Although most people are investing in recreational marijuana, it would be wise if people paid more attention to medical marijuana. Discussed below are the five reasons why you should focus more on medical marijuana

Patients Tend to Buy and Use Medical Cannabis Often

Pot stocks are popular among medical marijuana patients. In the last quarter of 2018, surveys carried out in Canada showed that medical cannabis patients buy and use cannabis more often, while people do not purchase or use recreational marijuana as often.

Medical Marijuana Has Higher Margins

Compared to recreational users, medical marijuana consumers tend to consume products with higher margins for the sellers of cannabis products. This is because patients are willing to purchase medical marijuana products such as beverages, edibles, oils, concentrates or vapes with a higher profit margin, while recreational marijuana is in the form of dried weed that has low margins and consumers fear to overdose.

Probability of a Broader Global Market

Over the next ten years, medical marijuana may be explode on the global market; therefore, investors should start investing in the industry. There will be three recreational marijuana markets worldwide if Mexico legalizes marijuana for personal use in October. In the coming years, the future of the pot industry is in medical cannabis which is being accepted in more jurisdictions worldwide.

Appeals to the Younger Generation

Medical marijuana connects with young adults in a quick manner. The ability to buy marijuana derivatives by the younger generation has resulted in dried weed avoidance. The younger generation consumes large amounts of marijuana; therefore, they are expected to be the driving force of the pot industry.

Medical Marijuana Gives Traction to CBD

Through the medical marijuana industry, CBD (cannabidiol), which is a nonpsychoactive cannabinoid that has many medical benefits, gains a paramount degree of exposure. This explosure opens new revenue streams for medical marijuana companies.

Experts think that these five reasons could explain why many marijuana companies, such as Green Hygienics Holdings Inc. (OTCQB: GRYN) and HTC Extraction Systems (TSX.V: HTC) have an eye on the medical marinuana segment.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com