420 with CNW – Long Lines as Recreational Pot Shops Reopen in Massachusetts

When governments issued lockdown and social distancing orders to curb the spread of the coronavirus, most states with legal marijuana programs deemed cannabis an essential service, allowing both recreational pot shops and medical marijuana dispensaries to continue operating. In Massachusetts, however, only medical marijuana shops were deemed essential, forcing residents who wanted to indulge in recreational pot during the lockdown to turn elsewhere. With the state slowly reopening, recreational marijuana retailers have been allowed to reopen since they were forced to shut down in March due to the coronavirus pandemic.

With customers now able to order in advance and pick up their purchases outside, some recreational pot shops in Massachusetts have seen some pretty long lines. During the lockdown, medical marijuana establishments were granted extra permissions like online ordering and curbside pickups to keep the staff and customers safe, and they have finally been extended to recreational marijuana shops. In response, customers have showed up in droves, with shops like Solar Therapeutics and Pure Bliss, the first pot shop to open in Boston, seeing dozens of customers lined up on their sidewalks.

“It’s a sort of tricky situation, because we understand the importance of preserving lives, but we also want to be able to provide our customers with the products that they need,” says Pure Oasis co-owner Kevin Hart. The state government had been under a ton of pressure from advocates and stakeholders to allow recreational pot shops to continue operating during the lockdown, with Governor Baker arguing that doing so would attract out of state customers and help facilitate the spread of the virus. However, tons of people who didn’t have prescriptions for medical pot still needed access to marijuana, and according to Chelsea resident Ben Crocker, “a lot of people were going back to the streets to get their self-medication.”

The state’s reopening plan now allows pot shops to open, albeit with some restrictions to reduce the risk of infection for staff and customers. “Our products are in high demand. People need this,” says Hart, with customers waiting as long as two hours to be served by his staff. According to NETA President Amanda Rositano, the restrictions mean her Brookline store will only be able to serve around 500 customers a day, only 20% of the 2,500 customers it serves.

“It’s been tough to stay on our feet but we have gotten by and this is a good chance to be able to reintroduce adult use, albeit in a reduced way.”

Analysts say this reopening of recreational pot shops in Massachusetts is likely to be seen as a long overdue move by industry actors like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) who saw the problems caused by the closure as avoidable ones.

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

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) to Release Q1 2020 Results, Host Conference Call on May 28

Plus Products (CSE: PLUS) (OTCQX: PLPRF) on Tuesday announced that, following market close on Thursday, May 28, the company will report its financial and operational results for the three months ended March 31, 2020. The company will also be hosting a conference call and webcast to discuss the financial results, as well as recent corporate highlights, on May 28 at 5:00 PM ET. At the end of the call, Plus Products co-founder and CEO Jake Heimark and CFO Jon Paul will be conducting a question and answer session. To join the call, dial (866) 220-4156 for the toll-free line or (864) 663-5231 for the international line and request the Plus Products Earnings Call or provide the conference ID: 4754548. The call will also be webcast at http://cnw.fm/pjF2F. The company suggests visiting the website 15 minutes prior to the call to register, download, and install any necessary audio software. Additionally, an archived audio webcast of the conference call will be available for replay on the company’s website.

To view the full press release, visit http://cnw.fm/Mh4Mk

About Plus Products

PLUS is a cannabis and hemp food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable, beginning with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, California. For more information, visit the company’s website at www.PlusProducts.com.

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

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420 with CNW – Oregon Breaks Yet Another Monthly Marijuana Sales Record

The economic impacts of the coronavirus crisis will undoubtedly be felt for years. With more than 30 million Americans newly unemployed and all but the most essential businesses shut down in the meantime, most industries are in a downturn. One sector that was spared and almost seems to be thriving during the crisis is the cannabis sector.

For years, one of the main arguments for legalizing marijuana has been the tax revenue states stand to earn from sales. With the coronavirus pandemic tearing across the country and most public coffers stretched thin, such revenue would be a godsend. Oregon, for instance, has had a very lucrative legal cannabis industry this year. In March, adult-use and medical marijuana stores in the state sold $84 million in product, a record for any other month.

In April, Oregon saw $89 million in legal marijuana sales, the second record-breaking sales month in a row and a 45% increase from last year, making April the most lucrative month on record for the state. According to data from Oregon Liquor Control, cannabis sales jumped 30% from March 2019 followed by a massive 65% year-over-year sales increase from March 16 to March 21 right before lockdown measures were issued. The state collects 17% tax on retail cannabis sales and counties and cities can apply a 3% tax. In total, Oregon’s annual tax revenue from recreational marijuana sales exceeds $100 million.

The coronavirus is majorly responsible for this increase in marijuana sales. As states began to lock down, recreational cannabis users as well as medical marijuana patients started stocking up for an indeterminate period of self-isolation, leading to the 65% year-over-year sales increase for the week of March 15 to March 21. And like most states that allow cannabis, Oregon later designated cannabis as an essential industry, allowing adult use stores and medical marijuana dispensaries to continue operating despite the lockdown orders.

The industry has adapted to the new conditions presented by the coronavirus crisis, with online ordering, curbside pickups and home deliveries becoming the new norm. The fact that it is enjoying record sales while other industries are being severely affected by the economic downturn shows just how beneficial a legal cannabis program can be to Oregon’s economic recovery.

“There’s a reason why over 25 states have declared marijuana dispensaries to be essential services. These are things people can rely on,” Rep. Earl Blumenauer says.

These figures coming from Oregon are seen as good news to sector players like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) who hope that the critics of the industry will start turning around and acknowledge that there is a lot of good that cannabis can do, and is doing, for society.

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420 with CNW – Study Shows Marijuana Legalization Boosts Hotel Bookings

For a very long time, advocates for legalizing marijuana have outlined the revenue states stand to gain from legalization. Indeed, states like Colorado have brought in massive revenues through cannabis sales in the recent past. Furthermore, results from a new study show that legal cannabis has a positive effect on the tourism and hospitality industry.

Dubbed (Pot)Heads in Beds: The Effect of Marijuana Legalization on Hotel Occupancy in Colorado and Washington, the study was published online and appears in the latest issue of Regional Policy and Analysis. It states that Colorado had a considerable increase in room rentals soon after the state began marijuana sales. Washington State also saw an increase in tourism after legalization, although not as much as in Colorado.

Washington State and Colorado were the first two states in the U.S. to legalize adult-use cannabis. Researchers compared hotel room rentals in the two states with states that prohibited adult use from 2011 and 2015 and they found that after legalization, there was an influx in tourist numbers and a rise in hotel revenue. Colorado saw monthly hotel booking increases of 2.5% to 4% and once retail sales opened, bookings increased by 6% to 7%.

Washington, on the other hand, saw increases at roughly half of Colorado’s rate, while hotel bookings increased by 1% after possession was legalized and 3.5% after retail stores opened.

Colorado saw its room rates increase by about $3.76 (2.8 percent) after possession of cannabis became legal and $6.31 (3.8 percent) after legal sales began. Monthly revenue increased by $9.33 million (6.75%) after possession became legal and $23.71 million once retail sales began.

According to the researchers, Colorado’s more central location might be responsible for the difference in numbers with Washington. The paper notes that Denver’s airport is “a major hub for United Airlines.” In Washington’s case, it’s proximity to British Columbia, which in the researchers’ opinion has “a strong reputation for growing marijuana and a laid back attitude toward marijuana consumption,” may have played a part.

“Another possible explanation,” the study speculates, “is that Colorado may have achieved a first mover advantage over Washington since it legalized commercial sale six months earlier than Washington.”

Aside from a 2015 report commissioned by the Colorado Department of Revenue which estimated that tourists made up to a large portion of the state’s retail marijuana activity, most evidence backing the connection between legalization and increased tourism was anecdotal. This study offers concrete proof that there is indeed a connection.

“These results suggest an uptick in tourism following marijuana legalization but until now, there have been no studies directly examining the effect of legalization on tourism,” said the researchers. Now, they will wait and see how things play out in the long term.

“While marijuana legalization increased tourism, especially in Colorado, the benefit may wane as additional states including California, Michigan, and Illinois, legalize the possession and sale of marijuana.”

All the same, industry actors like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) see these findings as proof of the nearly endless benefits of legalizing marijuana.

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) CEO Outlines Critical Company Objectives

Plus Products (CSE: PLUS) (OTCQX: PLPRF) co-founder and CEO Jake Heimark recently outlined three critical objectives the company will be focusing on throughout the coming year (http://cnw.fm/QVv51). A recent article discussing the letter reads, “‘We have set three critical objectives as a company over the next four quarters,’ he stated. ‘1) to ensure the safety and health of our employees and customers, 2) to continue to establish ourselves as a clear, long-term leader in the California edibles space and 3) to become a cash-flow positive business.’ . . . Heimark then went on to explain that PLUS is ‘capitalized with enough cash on hand to continue executing through the entirety of 2020 without any additional fundraising.’ Heimark noted that ‘Plus Products was the largest brand in the largest category of the California edibles market in 2019, and had the two best-selling cannabis products, across all categories, in the state over that same period.’”

To view the full article, visit http://cnw.fm/AvP0J

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420 with CNW – New Impediment to Maine’s Anticipated Marijuana Sales Emerges

Maine’s burgeoning marijuana industry has been stuck in developmental hell for the past few years. Despite Maine voters approving a ballot initiative to legalize marijuana in November 2016, there are still no retailers in the state. Since then, the journey to legal marijuana sales has been fraught with a number of legislative and regulatory changes, and in one case, a gubernatorial veto.

The state released rules for adult-use cannabis businesses in June 2019 and began accepting applications for recreational retailers in December. The first conditional licenses were issued in March with the hopes of launching retail sales by spring. However, with the coronavirus pandemic raging across the country, those plans have been put on hold.

According to Erik Gundersen, director of the Maine Office of Marijuana Policy, the state is waiting for approval from local city and town governments, but the current situation has slowed this process to a crawl.

“With the local authorization piece, the second stop in the licensing process, towns and cities across the state are really closed. Even though 87 conditional licenses are out there, the local authorization forms aren’t coming back at a volume where we can actually start a program,” he says.

What’s more, for retailers to set up shop, the host community has to opt-in and enact ordinances, creating another stop before sales can truly begin. Although more than 40 have opted in and enacted ordinances already, Gundersen says that he wants to be sure that there will be enough stores to meet the demand.

However, Maine’s largest city, Portland, has not approved an ordinance yet. On top of that, the city is proposing to put a cap on the total number of retail establishments at 20 and to use a points system to determine which firms will get retail licenses.

According to Keri-Jon Wilson, co-owner of Pot and Pan in Portland, she is disappointed that there can’t be a free market. Her company manufactures medical cannabis edibles and it is seeking an adult-use retail license and a manufacturing license.

“I think we all knew that it was going to be difficult in Portland, as we’ve watched the landscape change. Obviously, you know, it’s a little disappointing this can’t be a free market,” she says. It’s good that the city is being selective, but such measures are hard on potential applicants who have made a lot of investment but have no idea whether they will get a license, she concludes.

David Boyer, a consultant who ran the successful adult-use marijuana campaigns in Portland and statewide says there have been talks of collecting signatures to get the issue of eliminating the cap on the November ballot.

“Were confident that it’ll be easy to pass. It’s easy to explain to the voter that, you know, we just want a fair market and not a capped market.”

Experts say industry players like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) could be wondering when the nearly endless impediments to the cannabis industry in Maine will ever end and the sector takes off like in other places where legalization laws have been passed.

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420 with CNW – Minnesota Legislator Unveils Long-Awaited Cannabis Legalization Bill

Before the coronavirus pandemic had the entire world in a stranglehold, Minnesota House Majority Leader Ryan Winkler declared that he would introduce the ‘best legalization bill in the country’ within the coming weeks. However, with the virus spreading wildly across the country, priorities shifted and the legislation was put on the back burner.

On Tuesday, Winkler finally came through, filing a whopping 222-page bill with 33 cosponsors. “Our current priority is responding to the COVID-19 pandemic but after the town halls and discussions around this issue, we still wanted to put a stronger Minnesota, we need to continue working toward legalizing cannabis for responsible use,” he said after filing the legislation.

The legislation covers an extensive range of issues, including social equity, trying to limit cozy corporate relationships, and outlawing unregulated adulterants in marijuana products. It would also allow generous personal possession limits, home cultivation, and on-site consumption at licensed businesses.

According to Leili Fatehi, campaign manager for Minnesotans for Responsible Marijuana Regulation, the legislation was the result of months of hard work with Winkler’s staff. Since Minnesota doesn’t have a system to allow citizens to put initiatives on the ballot, marijuana legalization has to go through the legislature.

“We’ve been working with Majority Leader Winkler and his team for nearly a year now to advance conversations in and out of the Capitol. Today’s introduction of a comprehensive, equity-based cannabis legalization bill is a big step for Minnesota and all Minnesotans who know we can responsibly legalize and regulate,” she said.

Residents 21 and older would be allowed to possess and transport up to 1.5 ounces of marijuana and 8 grams of cannabis concentrates in public places and keep up to 10 pounds at their private residence. They would also be permitted to grow up to eight mature plants at home. Retail sales would be subject to a 10% tax.

The bill would allow a variety of businesses including retail delivery and event organizers. It also protects them from municipalities, stating that they “may not prohibit the establishment or operation of a cannabis business licensed under this chapter.” They will, however, be able to set time, place, and other manner of restrictions on businesses’ operations.

The governor would be charged with appointing a seven-person Cannabis Management Board to oversee the state’s legal cannabis program. It will be under the Office of Medicinal Cannabis, which would run the state’s existing medical cannabis program, and the Office of Social Equity, which would promote “development, stability, and safety in communities that experienced a disproportionate, negative impact from cannabis prohibition.”

“Minnesotans have been loud and clear that our current laws are doing more harm than good. By creating a regulatory framework, we can address the harms caused by cannabis and establish a more sensible set of laws to improve our health care and criminal justice systems and ensure better outcomes for communities,” said Winkler.

Experts say seasoned industry players like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) may be impressed by the degree of detail captured in this draft bill aimed at addressing any possible concerns that different sections of the community may have about cannabis legalization.

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Posts Audited Q4, Year-End 2019 Financial Results

Plus Products (CSE: PLUS) (OTCQX: PLPRF) on Thursday provided its audited financial and operational results for the three and twelve months ended December 31, 2019, expressed in U.S. dollars. Among other highlights, the company reported net revenues of $13.9 million in 2019, demonstrating a 66% year-over-year growth compared to 2018 net revenues of $8.4 million. PLPRF also hosted a conference call to discuss the results, which will be available for replay on the company’s website. “In 2020, our strategic initiatives are built around three critical objectives: 1) ensuring the safety and health of our employees, customers, and partners during this pandemic; 2) establishing ourselves as the clear, long-term leader in California edibles; and 3) becoming a cash-flow positive business. Objectives two and three will be driven by the launch of new brands here in California and the continued growth of our core PLUS brand in the markets in which we are operational today. By relying on core capabilities and known distribution channels to drive capital-efficient growth, we are confident in our ability to achieve both our market and financial goals for 2020 and beyond,” Plus Products co-founder and CEO Jake Heimark stated in the news release.

To view the full press release, visit http://cnw.fm/8Mx2o

About Plus Products

PLUS is a cannabis and hemp food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA. For more information, visit the company’s website at www.PlusProducts.com.

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CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Hosting Conference Call, Webcast to Discuss Audited Q4 and Full Year 2019 Results

Plus Products (CSE: PLUS) (OTCQX: PLPRF) on Wednesday announced that after markets close on Thursday, May 7, the company will report its audited financial results for the fourth quarter and full year ending December 31, 2019. In addition, the company will also be hosting a conference call and webcast to discuss the financial results and recent corporate highlights on May 7 at 5 PM ET. Plus co-founder and CEO Jake Heimark and chief financial officer Jon Paul will also be conducting a question and answer session on the call. To join the call, dial (866) 220-4156 for the US and Canada toll-free line or (864) 663-5231 for the international line and request the Plus Products earnings call or provide conference ID: 2867687. To view the webcast, visit the website at least 15 minutes prior to the call to register, download, and install any necessary audio software (http://cnw.fm/I0kSs). After the call is finished, there will be an archived audio webcast available for replay on the company’s website.

To view the full press release, visit http://cnw.fm/Yzy19

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420 with CNW – How to Read Marijuana Product Labels

Despite its immense popularity, the cannabis industry is still new and relatively unregulated. While federal law classifies cannabis as a controlled substance, over 30 states have legalized cannabis in various capacities. This patchwork legislation makes it difficult for agencies like the U.S. Food and Drug Administration (FDA) to fully regulate the industry.

There are always bad players in such situations. In marijuana’s case, it is companies making unsubstantiated medical claims on their products or delivering contaminated products. That’s why it is crucial you check product labels before making any purchases.

Companies are legally required to send their product to a third-party laboratory for testing, and the results should be made available to consumers. This is proof that the product is safe to use, contains what it says on its labeling and in the correct amounts.

Depending on region-specific labeling laws, producers may publish results on the label or they may provide detailed lab results (a Certificate of Analysis) via a batch number or a QR code. Third-party lab results will typically detail;

Cannabinoids. This is a group of chemicals produced by cannabis, and they are responsible for its physiological and psychological effects. The most abundant ones are THC, which is responsible for marijuana’s infamous high and CBD (cannabidiol), which is said to be medically beneficial.

Minor cannabinoids that may be present include THCa, THCv, CBDa, CBN, CBC, and CBG. Third-party results will show how much of each cannabinoid is present in the product.

Terpenes are also produced by cannabis, and they are responsible for its distinctive flavor and aroma. They work together with THC, CBD, and the other cannabinoids to create unique effects and benefits in what has been dubbed the ‘entourage effect’.

Some products are completely devoid of terpenes while others contain them. Some of the terpenes you may see on lab results include myrcene, limonene, and terpinolene.

Moisture content will also determine how safe the product is. If cannabis bud, for instance, has a high moisture level (over 15%) there is an increased risk of bacteria and fungi. However, if it is too low (less than 5%) the bud will be brittle and dry, taking away from the experience. Labs also test for microbial growth for things like salmonella, E. coli, yeast, and mold in samples with higher moisture content.

Solvents are used in extraction processes, and they can remain in low levels in the product. Different regions have different acceptable levels for various solvents but once they are past a certain level, they can have serious health implications. Labs usually test for propane, butane, benzene, and xylenes.

Heavy Metals may also be present as cannabis absorbs and stores them from fertilizers or contaminated soil. Third parties labs usually flag cadmium, arsenic mercury, and lead as well as several others in the Certificate of Analysis (COA).

A COA is an invaluable resource if you are considering purchasing a marijuana product. Producers that make their lab results easily accessible prove they have nothing to hide, and they are more likely to have safe high-quality products.

Experts say it is no wonder that leading cannabis companies like Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) actively encourage their customers to read the product labels carefully before buying any product.

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