Tag: MCOA

HempNewsBreaks – Marijuana Company of America Inc. (MCOA) Commences Harvest at CBD Hemp Farm in Oregon

Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA) today announced that the company has begun its 2019 harvest at its CBD hemp farm in Scio, Oregon. MCOA, with its joint venture partner, Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG), has created joint venture subsidiary, Covered Bridge Acres Ltd. (“CBA”), which owns the hemp biomass that spans 35 acres and incorporates environmentally-friendly and biodegradable methods. “The initial results of this harvest in Oregon are incredibly promising,” Marijuana Company of America CEO Donald Steinberg said in the news release. “Our commitment to growing only of the most robust and quality plants are providing us with excellent returns that we are confident will be greatly appreciated by our growing customer base. As demand for CBD products continues to escalate, we remain focused on expanding our market footprint, enhancing brand recognition and capturing additional market share. We believe that this harvest is an important step in our growth trajectory and in establishing ourselves as a market leader in this emerging industry.”

To view the full press release, visit http://cnw.fm/N0JsY

About Marijuana Company of America Inc.

MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART(TM), which targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry as the legalized markets and opportunities in this segment mature and develop. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.

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

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.

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420 with CNW – Nearly a Thousand Businesses Sign Letter Asking Congress to Deschedule Marijuana

To mitigate the risks linked with vaping products purchased from the illicit markets, hundreds of leaders in the cannabis industry have signed a the letter for the descheduling of marijuana by Congress.

The letter is to be delivered on Thursday to the House and Senate leadership. The letter argues that the recent increases in injuries and deaths related to vaping are because there are no federal regulations on the sale and use of marijuana because marijuana remains to be a federally controlled substance. The injuries and death are a result of people using adulterated and unregulated weed.

The letter states that any death due to marijuana is one too many in the legal state-regulated marijuana industry. Therefore, to curb the illicit market and prevent future risks, the cannabis industry has to employ tools such as uniformity and good manufacturing practices.

The government should provide consumers with accurate and actionable information on the status of the illegal, untested, and dangerous marijuana products in the markets argued NCIA and its co-signers, who include companies such as Weedmaps, Berkeley Patients Group, SPARC, Leafly, and Vicente Sederberg LLP.

In an interview with a media outlet, the NCIA executive director, Aaron Smith, said that the members of Congress should understand that the failed prohibition policies permitting the continued operation of the unregulated underground market is the leading cause of the increase in the outbreak of vaping related illnesses.

He further stated that the regulation of alcohol at the federal and state level is the reason why there are no alcohol-related illnesses. Therefore, to improve state regulatory systems regarding marijuana and allow for comprehensive research on marijuana as well as limit the illicit market, it is essential for Congress to deschedule and regulate marijuana effectively.

To ensure that the citizens are not exposed to dangerous and untested marijuana products, the letter recommends the adoption of five policies.

First, the removal of cannabis from the Controlled Substances Act and start regulating marijuana in a sensible manner similar to that of alcohol. Moreover, make funds available for investigation of the illnesses by medical specialists in the state.

Secondly, to stop production of vaping equipment installed with thickening agents. The manufacturers should issue a recall of any vaping product that has Vitamin E acetate. Furthermore, licensed retailers should countercheck their stock to make sure they have no products containing Vitamin E acetate.

Thirdly, cannabis consumers should stop using vape cartridges obtained from illegal markets and cease future purchases of any vaping cartridges or products.

NCIA said that the other problem facing the industry is the federal regulations that prohibit legal marijuana businesses from forcing black market operators out of business. NCIA also added that the illicit activities would be disrupted and most probably removed from the markets by legitimate weed businesses if marijuana was removed from Controlled Substances Act.

According to Smith, the NCIA is ready to help the lawmakers and regulators ensure the safety of marijuana consumers. Industry analysts are of the view that companies like Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Marijuana Company of America Inc. (OTCQB: MCOA) long for the day when the federal government finally acts on all the calls that have been made to reschedule marijuana.

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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CannabisNewsBreaks – Marijuana Company of America Inc. (MCOAD) Announces Completion of Reverse Stock Split

Innovative hemp and cannabis corporation Marijuana Company of America (OTCQB: MCOA, MCOAD)today announced that it began trading on a split-adjusted basis on September 3, 2019. The company announced its proposal for a 1-for-60 reverse stock split on July 31, 2019. According to the update, the company’s common shares, which previously traded under the ticker symbol “MCOA,” began trading on a post-split basis under the symbol “MCOAD.” This will continue for a period of 20 business days, after which the “D” will be removed, and the symbol will revert back to “MCOA.” The reverse stock split affected all issued and outstanding shares of MCOA common stock without changing the par value, which remained at $0.001 per share. The reverse stock split uniformly affected all stockholders and will not alter any stockholder’s percentage interest in MCOA’s equity. No fractional shares have been issued in connection with the reverse split. Stockholders otherwise entitled to receive a fractional share have instead received one additional share as determined in good faith by MCOA’s Board of Directors.

To view the full press release, visit http://cnw.fm/6qS0o

About Marijuana Company of America Inc.

MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART, which targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry as the legalized markets and opportunities in this segment mature and develop. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.

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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – FDA Seeks More Public Input on International Cannabis Rescheduling

The U.S. Food and Drug Administration (FDA) has again announced that it is receiving public comments about the possible reclassification of cannabis in international treaties.

The agency revealed in a federal register notice that it was opening a 30-day comments period on a matter about which it had received comments back in March but the comments period was shorter since the UN was due to meet shortly after to discuss the World Health Organization’s recommendation that marijuana and THC should be reclassified and that CBD shouldn’t be subjected to any international restrictions since it wasn’t addictive and didn’t carry any potential for abuse.

The expected discussion of the WHO’s recommendations didn’t take place in March as had been expected and the UN Commission on Narcotic Drugs agreed to postpone the inclusion of this matter on its agenda.

The FDA had earlier indicated that if the UN Narcotics Commission postponed consideration of the matter, then the federal agency would reopen the comments window. The notice published this week is a result of that promise and it allows the members of the public to share their views using electronic means or through mail.

Technically speaking, the reclassification of marijuana under the existing international treaties may not necessarily give UN member countries the liberty to legalize the drug since the rescheduling proposed by the World Health Organization (WHO) would still retain some degree of control on the drug.

However, any rescheduling would indicate that the UN, one of the most influential intergovernmental entities in the world, was recognizing that a lot more is now known about marijuana to warrant the organization to revisit its classification of this often controversial plant and its compounds.

The existing restrictions notwithstanding, countries are beginning to make their own decision to legalize recreational marijuana. Uruguay set the pace and Canada followed suit in 2018. By the end of this year, Mexico will have also legalized recreational marijuana in compliance with a Supreme Court ruling which declared that it was unconstitutional to bar adults from consuming recreational marijuana.

As for medical marijuana, one can almost fail to count all the countries that have either legalized it or are in the process of doing so. Medical marijuana has even gained acceptance in Asia (Thailand, for example) and yet this part of the world was notorious for its zero-tolerance for the drug.

Back home, the federal government through its different entities like the DEA, Congress and the National Institutes for Health (NIH) seems to be realizing that the marijuana tide cannot be stemmed for much longer and they are taking steps to ease cannabis research or even explore the best ways through which to reform the prohibitionist laws currently in force.

For now, industry watchers believe entities like Marijuana Company of America Inc. (OTCQB: MCOA) and MustGrow Biologics Corp. (CSE: MGRO) feel optimistic that the U.S. response to the proposed UN reclassification of marijuana will be favorable in light of all the positive public input that the FDA continues to receive each time it asks for such feedback.

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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CannabisNewsBreaks – Marijuana Company of America Inc. (MCOA) Launches Premium Cannabis Delivery Service

Marijuana Company of America (OTCQB: MCOA), an innovative hemp and cannabis corporation, recently hosted a virtual launch party of its premium cannabis delivery service, VivaBuds. “VivaBuds will offer our customers low-cost premium cannabis, fast delivery times and quality customer service,” MCOA CEO Don Steinberg stated in the news release (http://cnw.fm/0g7ZO). An article discussing the company reads, “The establishment of a joint venture with Natural Plant Extract of California (‘NPE’), along with a 20% ownership stake in the company, led to the creation of Viva Buds Inc., a unique, Los Angeles, California-based cannabis delivery service. MCOA’s commitment to the joint venture is evident in a recent news release announcing the acceptance of potential customers during a prelaunch of Viva Buds’ cannabis delivery service in the San Fernando Valley in the Los Angeles area.”

To view the full article, visit http://cnw.fm/90eLd

About Marijuana Company of America Inc.

MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART, which targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry as the legalized markets and opportunities in this segment mature and develop. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.

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

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)

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420 with CNW – Marijuana Legalization Takes a Step Forward in South Dakota

South Dakota is one of the few states in the U.S. that hasn’t legalized marijuana for either recreational or medicinal use. However, this may change if the recent flurry of activity to certify legalization measures eventually bears fruit on voting day in 2020. One particular ballot measure has recently earned an official explanation written by the state’s attorney general.

This measure is a rather ambitious one because it seeks to legalize medical marijuana, recreational marijuana and industrial hemp, all in one fell swoop.

The recreational use of marijuana would be legalized through an amendment to the state constitution while the state legislature would be mandated to debate and pass laws regulating medical marijuana and hemp.

In his explanation of the measure, Jason Ravnsborg, the South Dakota Attorney General, wrote that the measure seeks to legalize the use, possession, transport and distribution of cannabis by adults who are 21 years old or older. He added that cannabis plants and products produced from those plants may also be permitted under clearly defined circumstances.

Additionally, the department of revenue in the state would issue licenses to businesses that wished to cultivate, manufacture, test or distribute marijuana. Local authorities may opt out of allowing marijuana businesses to operate within their jurisdictions, according to the ballot initiative.

The AG’s explanation also emphasizes that the marijuana measure doesn’t make industrial hemp legal. Hemp can only be legalized once the legislature enacts an enabling law.

The initiative proposes that an excise tax of 15 percent should be levied on all sales of marijuana. This revenue will be used to fund the activities related to regulating the marijuana industry, and what remains will go to education and the general fund from which other state activities or programs are funded.

This explanation is similar to the one that the AG issued with respect to another proposed amendment to legalize medical cannabis in South Dakota.

The attorney general’s office also revealed that a few more measures are awaiting certification by his office. For any of those measures to make it onto the state ballot, the activists behind it must gather at least 33,921 verifiable signatures from voters in the state.

For now, it isn’t yet clear whether the campaigners will rally around one initiative rather than each group of advocates going it alone. Industry experts believe that it would be in the interest of the entire cannabis industry, including players like Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Marijuana Company of America Inc. (OTCQB: MCOA), to combine forces and promote one initiative so that the chances of success can be increased in this largely conservative state.

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 – Florida Personal Injury Lawyer Turns Around and Decides to Back Marijuana Legalization Drive

Last week, we reported that Regulate Florida, an advocacy group campaigning to put marijuana legalization on the 2020 state ballot had gathered enough valid votes to get the Supreme Court to review the language of their petition and that John Morgan, the personal injury lawyer who had bankrolled an initiative to legalize medical marijuana had declined to support the current push to legalize recreational marijuana saying that in his opinion, Florida wasn’t ready for such a shift. Now the lawyer has made a 180-degree turn and has decided to put his weight behind efforts to make adult-use marijuana legal in the state in 2020.

Initially, John Morgan had opted to back an initiative to raise the minimum wage in Florida rather than support attempts to get a measure on recreational marijuana voted on during the next elections.

However, the lawyer wrote on his Twitter account on Tuesday that he was too old to care (about what critics think) and that he believed that marijuana should be legal in Florida. Morgan said that he believes that there is time and money to push for legalization through a ballot measure and now that he had helped to gather sufficient signatures to put the minimum wage issue on the ballot, he would now turn his attention to marijuana legalization.

The self-appointed “pot daddy” wrote that his change of mind came about after marijuana industry leaders who had the financial muscle to get marijuana legalized sooner rather than later approached him and asked for his involvement.

John Morgan admitted that while getting a measure approved for inclusion on the ballot will be very hard, such an initiative will pass with overwhelming support once the matter is up for a decision on Election Day.

Morgan was tightlipped about the identity of the “industry leaders” who contacted him, but one of the legalization campaigns is being spearheaded by a lobbyist who is on the payroll of MedMen, a medical marijuana dispensary chain.

Any measure that is included on the ballot must get at least 60 percent voter approval before the constitution can be amended. In 2014, Morgan backed a move to have medical marijuana legalized but that campaign only garnered 58 percent support, which was just shy of the proportion needed to amend the constitution.

For now, analysts believe that industry participants like Marijuana Company of America Inc. (OTCQB: MCOA) and MustGrow Biologics Corp. (CSE: MGRO) could be relieved that the experienced marijuana campaigner has jumped into the fray even if he hasn’t yet decided which particular campaign he intends to join.

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)

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420 with CNW – Study Finds Legalized Recreational Cannabis a Danger to Alcohol, Not Tobacco

The recent wave of adult-use marijuana legalization across the U.S. has the potential of generating $22 billion in annual sales, but not everyone is thrilled about this development. New research that will soon be published in the Marketing Science journal shows that the alcohol industry is likely to take a hit once marijuana is legalized.

The research was done by Pengyuan, an assistant professor at the Terry College of Business (University of Georgia). He worked with Guiyang Xiong from Syracuse University.

The duo analyzed online search data taken from one of the leading web portals based in the U.S. In total, they crunched the numbers on 120 million ad impressions and 28 million anonymous searches done using this portal. The data in question covered the period January 2014 to April 2017.

The research revealed that the number of online searches done for alcohol reduced by almost 11 percent while the searches for tobacco and its products saw an increase of 8 percent.

The tobacco and alcohol industries are worth a total of $300 billion in the U.S. alone. While these two industries have been vehemently opposed to the legalization of cannabis, this research shows that the tobacco industry would be well advised to revisit their opposition to legal marijuana since opposing the advance of cannabis isn’t in their best interest.

However, the alcohol industry is justified (from an existential point of view) to oppose the onward march of legal marijuana across the country since a law legalizing marijuana at the federal level would see a major decline in the sales of alcohol. The industry therefore has to think fast and come up with ways to retain their customers if they want to retain as much of their market share as possible.

Interestingly, while this research revealed that the legalization of adult-use marijuana in a state causes 17 percent more adults to conduct online searches on marijuana, the number of people who are less than 19 show a reduced interest in marijuana (or at least they perform fewer online searches on the substance).

This again serves to dispel another perception that the legalization of recreational cannabis causes a spike in the interest shown in the substance by minors. Policymakers may therefore need to revisit their positions if they based any decisions they made upon a presumption that there will be an uptick in the number of people who show interest in the drug yet they aren’t of age.

These findings seem to make sense because pollsters have pointed out severally that many adults would opt for recreational marijuana rather than alcohol since pot doesn’t come with hangovers, weight gain and the other effects of consuming alcohol on a regular basis.

It would be interesting to know what industry players like Marijuana Company of America Inc. (OTCQB: MCOA) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP)  are planning to do in response to the likely spike in the opposition of the alcohol industry once the findings of this research are released and the fears of the alcohol industry are confirmed.

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 – Congress Considers Stopping Denying Veterans Home Loans Due to Cannabis Industry Work

The House Rules Committee of Congress is going to consider an amendment this week that seeks to stop the Department of Veterans Affairs (VA) from denying the home loan requests of veterans who derive all or part of their income from work in state-legal marijuana industries.

Rep. Katherine Clark (D-MA) filed the measure that, if passed, will be attached to the National Defense Authorization Act.

Previously, it wasn’t known to the public and lawmakers that the VA had a policy of denying any home loan application of a veteran who worked in a marijuana company in a state where the industry is legal. However, one constituent of the mover of this amendment drew the attention of the lawmaker to this issue early this year and Clark immediately started working to correct this practice.

In May, Rep. Clark spearheaded a move to get lawmakers to sign a letter addressed to the VA on this unfair policy. In their letter, they noted that a significant number of veterans work in the marijuana industry and more will join them as more states legalize the industry.

The bipartisan group of legislators urged the VA to acknowledge and clarify that veterans will not be denied their benefits just because of the industry in which they work.

At about the same time, the House Appropriations Committee wrote a report highlighting the lack of clarity on the rules of the VA on home loans for veterans who work in the state-legal cannabis industry. The panel went ahead to impose a 180-day deadline within which the department should clarify what its official position on this issue is.

Clark’s amendment has language to the effect that the VA will not use a veteran’s employment in a state-legal cannabis business as a basis to determine the suitability of that person for a housing loan.

Last month, another Congressional committee approved another amendment to the spending bill of the Department of Defense. That amendment permitted the reenlistment of members even if they had used or been convicted of misdemeanor marijuana offenses while off-duty.

However, the VA has a history of pushing against any pro-marijuana amendments that come up for discussion, and the latest amendment filed by Rep. Clark is likely to get the same treatment. It would be enlightening to know what the different industry players like MustGrow Biologics Corp. and Marijuana Company of America Inc. (OTCQB: MCOA) would suggest as a way to get around this brick wall of VA resistance to marijuana policy reform.

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

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

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420 with CNW – It’s Official, Illinois is 11th to Legalize Recreational Marijuana

As had been widely expected, Gov. J.B Pritzker yesterday (June 25) signed a bill legalizing recreational marijuana in Illinois. This makes the state the 11th to legalize marijuana fully, joining the likes of Colorado and California.

When this new law takes effect on Jan 1, 2020, adults 21 and older will be allowed to possess up to 30grams of marijuana and non-residents will be permitted to possess a maximum of 15grams.

The signing ceremony marked the fulfillment of a pledge Gov. Pritzker made when he was campaigning for office. He promised to see the swift legalization of recreational marijuana in order to bring needed revenue to the state, correct historical wrongs occasioned during the futile war on drugs and also shift scarce law enforcement resources to more serious crimes.

This law makes Illinois the first state to legalize recreational marijuana legislatively while creating a comprehensive framework for sales across the state. The other state (Vermont) which took this path just stopped at passing a law that created an agency to work out the details of full implementation.

Until legal sales start at the beginning of 2020, it will still be illegal to possess marijuana unless one is registered on the state’s medical marijuana program.

On the market side, the legalization law creates a first-of-its-kind mechanism through which people from impoverished communities will be helped to participate in the legal cannabis industry. This help will come in the form of fee waivers, low-interest loans and other forms of preferential treatment for “equity” applicants. A portion of all revenue generated from the marijuana industry will also be reinvested in impoverished communities in order to revive their economies.

Police departments have been jittery ever since the law was drafted, and their stiff opposition led to the dropping of a provision which would have seen residents allowed to grow up to five plants for recreational use. This opportunity now went to medical marijuana cardholders who weren’t initially allowed to grow marijuana for their own use.

Police departments are now worried that it will be hard for them to stay on top of people driving under the influence of marijuana since there isn’t reliable technology to test for impairment.

Meanwhile, hopes were high among advocates that New York and New Jersey would also legalize marijuana legislatively this year but the plans in those states fizzled out during spring. There is almost no doubt among cannabis industry analysts that the whole industry, including Marijuana Company of America Inc. (OTCQB: MCOA) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), has heaved a collective sigh of relief that the momentum of state-level legalization hasn’t stalled completely.

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