The state-legal cannabis industry in America has come a long way despite being just a decade or so old. It has employed hundreds of thousands of individuals, generated billions of dollars in revenue, and filled state coffers with millions of dollars in tax revenue. Cannabis is still considered a Schedule I controlled substance at the federal level, however, and this classification has consistently been a thorn in the sector’s side.

Fearing reprisals from the federal government, banking institutions refuse to work with state-legal cannabis businesses, forcing them to operate on a cash-only basis, among other things. The Secure and Fair Enforcement (“SAFE”) Banking Act, a legislation that seeks to protect banks which that transact with businesses in the cannabis space, hasn’t had as much luck in the Senate. As such, bill sponsors Senators Jeff Merkley and Steve Daines have sent a letter to Senate Banking Committee Chairman Sherrod Brown urging him to put the legislation to a vote.

This is not just an issue of granting businesses in the cannabis space access to banking services, they say, but also a public safety issue. Since these establishments are forced to operate on a cash-only basis, they often have large sums of money on premises, puts employees at risk of robberies and armed burglaries. In fact, the two cited cases of theft at cannabis dispensaries in their home states.

Thus, they say, they owe it to their constituents to put the SAFE Banking Act to a vote and “further the legislative process.” The banking legislation was reintroduced to the senate three months ago, and since then, it has not been subject to a hearing. However, lawmakers in the House of Representatives passed the bill for the fourth time this April. The public letter, which was also addressed to Senator Pat Toomey, a ranking member in the Senate Banking Committee, may be an indication that private requests to Senator Brown to hold a markup on the bill may have gone unheard.

While Brown had previously stated that he would like to tie cannabis sentencing reform together with the banking bill, recent comments show that he isn’t married to the idea. He has also said that he had discussions with Senate leadership about merging it with a broader cannabis legalization reform that is currently being drafted by Senate Majority Leader Chuck Schumer. However, Schumer has stated that he doesn’t want to pass a banking bill, which he says puts industry interests first without advancing a bill addressing social equity.

Some form of cannabis policy reform at the federal level would be a great help to the entire industry, including Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), as some of the regulatory conflicts between state law and federal law would be clarified.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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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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Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, is spotlighted in an editorial broadcast titled “A Lesson in Cannabis: Second Mover Can Be Better Position.” A press release announcing the broadcast observes that, while many look at first-mover status as an optimal position, there can be some advantages to learning from those acting first in an industry. “Look what happened to MySpace and AIM (AOL Instant Messenger) as they faded to irrelevance as Snapchat, TikTok and Instagram exploded in popularity to challenge incumbent platforms,” the press release states. “Second movers can enjoy advantages as they learn from pioneering entities that paved the way. Specific to the cannabis business, there is no shortage of companies that learned from sad experience the price to pay for expanding too fast, overpaying for acquisitions, or building a business a mile wide and a foot deep. Red White & Bloom Brands Inc. is a compelling mix of old and new that is methodically building a commanding position in the United States as a multi-state operator (‘MSO’). In fact, the company refers to itself as a ‘super state operator,’ a reflection of its strategy to remain hyperfocused on dominating specific markets before expanding to others, which ensures it doesn’t get spread too thin.”

To view the full press release, visit https://cnw.fm/S3wjN     

About Red White & Bloom Brands Inc.

Red White & Bloom Brands is positioning itself to be one of the top-three, multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com. 

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

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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Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, is featured in an editorial published by NetworkNewsWire (“NNW”), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities. The article, titled “A Lesson in Cannabis: Second Mover Can Be Better Position,” looks at what companies looking to grow in the cannabis market can learn from pioneers in the space. “Even though medical marijuana had been legal in some U.S. states for more than a decade, the substance didn’t gain much recognition until Colorado set the market on its head in 2012 by making adult-use marijuana legal. Since then, other states have followed suit, while in 2018, Canada went all-in to become the first developed nation with weed legalized at the federal level,” the article states. “Not surprisingly, North American companies and investors were tripping over themselves trying to capitalize on the massive burgeoning market. In all market segments, plenty of lessons were learned as everyone from companies to investors to lawmakers worked to organize a brand-new market.”

To view the full press release, visit https://cnw.fm/xE6lm

About Red White & Bloom Brands Inc.

Red White & Bloom Brands is positioning itself to be one of the top-three, multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com. 

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

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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A recent poll conducted by the Drug Policy Alliance (“DPA”) and the American Civil Liberties Union (“ACLU”) has found that more than half of the voters in America are in favor of the drug war coming to an end and also support the decriminalization of the simple possession of substances which are presently illegal.

The poll was conducted last month and interviewed 800 registered voters. Its results were released just before the 50th anniversary of the declaration of the drug war by former president Richard Nixon, which began a system of mass criminalization, which disproportionately targeted individuals of color. Of those surveyed, more than 60% were found to support the elimination of criminal penalties for drug possession and reinvesting resources used for drug enforcement into addiction and treatment services. Another 65% agreed that the United States should withdraw from the drug war.

Surprisingly, the survey also found that a considerably large number of voters felt that the war on drugs had failed. By party affiliation, 82% of members of the GOP, 85% of independents and 83% of Democrats regarded the war on drugs as a failure.

In a press release, the ACLU Justice Division’s director Udi Ofer stated that President Joe Biden should move to dismantle the system of mass incarceration and overpolicing as per his campaign promises, on the anniversary of the war on drugs. In addition to this, the poll also found that more than 60% of those surveyed believed that the use of drugs shouldn’t be treated as a criminal justice issue and should instead be viewed as a public health issue, while another 61% supported the commuting of sentences for drug-related convictions. An additional 64% supported the revocation of mandatory minimum sentences in cases related to drugs.

Ofer asserted that the time had come to embrace new approaches that treated substance use as a public health issue. He noted that the Biden administration could make progress in ending this racist and harmful war by reducing the sentences of individuals imprisoned for drugs. This, he said, would help decrease the over policing of Brown and Black communities in the United States, as well as decrease the problem of mass incarceration.

President Biden has vocalized his support for ending imprisonment for low-level drug cases, stating that no individual should be incarcerated for using drugs. He added that the country should change the way they dealt with drug abuse. However, the Biden administration has yet to take any steps to alter federal policy. Additionally, the president hasn’t granted presidential clemency to individuals imprisoned for drugs.

Should federal marijuana policy ever be relaxed, industry players such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) will have fewer regulatory headaches to contend with as a degree of uniformity may be brought to the currently fractured industry.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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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Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has released an update regarding its annual filing statements for FY 2020, the period ended Dec. 31, 2020. The update also applies to other related documents, including the CEO and CFO certificates, an annual information form, and management’s discussion and analysis. RWB announced that it is now working with Macias Gini & O’Connell LLP (“MGO”) as the successor auditor to replace MNP LLP (“MNP”), the company RWB had previously contracted with. In addition, Red White & Bloom Brands noted that it will be filing its change of auditor package concurrently with the securities commissions to reflect the appointment of MGO as its auditor. RWB announced last month that there would be a delay in filing its documents because its auditor at the time, MNP, had not completed required audit procedures in time. The company reiterated that it is working diligently to finalize and file its documents and will continue to release biweekly default status reports until the documents are filed.

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

About Red White & Bloom Brands Inc.

Red White & Bloom Brands is positioning itself to be one of the top-three, multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com. 

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

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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Cannabis reform advocates in Nevada may soon be treated with good news after the state legislature sent a bill that would legalize cannabis consumption lounges to the governor’s desk. Sponsored by Speaker Pro Tempore Steve Yeager, the legislation would create two new cannabis licensing categories, one for retail cannabis consumption lounges and the other for independent cannabis consumption lounges. The bill advanced through a state assembly committee in early April and was passed by the Nevada Assembly in late May before heading to the Senate for final approval.

Last week, the Senate overwhelmingly passed the bill in a 17–3 vote before sending it to Governor Steve Sisolak for his signature. Sisolak has been a major supporter of Nevada’s cannabis industry, and he is expected to sign the bill into law. If he does, Nevada will become the eighth state in the country to legalize cannabis consumption lounges. With tourism being an integral part of Nevada’s economy, stakeholders hope providing safe spaces such as these lounges for cannabis consumption will attract cannabis tourists once the coronavirus pandemic dies down and the country fully opens up.

Under the legislation, existing cannabis retailers will be able to apply for the retail cannabis consumption lounge license and sell cannabis products that can be consumed on-site by adults aged 21 and older. On the other hand, independent lounges would not be allowed to sell cannabis on their own. They would have to contract with existing cannabis retailers to deliver ready-to-consume cannabis products, which the independent lounges would then provide to eligible customers on-site.

The Nevada Cannabis Compliance Board would be tasked with creating regulations for these consumption lounges and collecting fees from license applicants. According to the legislation, retailers that qualify as social equity applicants would be charged reduced fees, with the bill classifying a social-equity applicant as anyone who was adversely affected by anti-cannabis policies in the past. A further amendment to the bill, which was approved by both the House and the Senate, would allow local governments to adopt more restrictive regulations for cannabis consumption lounges within their jurisdictions if desired.

The Nevada Assembly also passed two separate measures: one stipulated that the amount of THC in a person’s blood could not be used to determine whether or not they were impaired while driving, and a second reducing penalties for minors who consume cannabis. Some advocates argued that the THC limit used to determine the level of impairment was arbitrary and lacked sufficient scientific evidence.

With such a progressive approach to cannabis legislation, it may not be long before Nevada catches the attention of companies such as Red White & Bloom Brands Ltd. (CSE: RWB) (OTCQX: RWBYF) which operate on the super-state operator or multistate operator models.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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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Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) today announced that it has completed the more comprehensive portion of Michigan’s two-step application process for marijuana licensing through a wholly owned operating subsidiary, RWB Michigan LLC. The Marijuana Regulatory Agency (“MRA”) pre-qualification represents authorization of the company to proceed with its full operational strategy in the state and complete the licensing process for its intended facilities. All application materials, background checks and payment of the application fees have been completed as part of the first step, which is pre-qualification. “Michigan has been one of the highest bars of entry to any market we’ve entered. The regulatory body has done it right and all stakeholders should feel comfort with the level of scrutiny and governance we have to be compliant with as operators. This now provides a path for us to fully execute on our strategy of being the house of brands and being great channel partners to all of our distribution points as well as our own planned flagship retail locations,” said RWB CEO and Chairman Brad Rogers. “Entering Michigan provides RWB access to a market with a population of approximately 10 million people, and one where recent state monthly sales are over US$145 million. Given the number of documents and rigorous background check process, pre-qualification is the most significant regulatory hurdle in the Michigan marijuana licensing process.”

To view the full press release, visit https://cnw.fm/fXce5

About Red White & Bloom Brands Inc.

The company is positioning itself to be one of the top three multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona, and California with respect to cannabis, and the U.S. and internationally for hemp-based CBD products. For more information about the company, visit www.RedWhiteBloom.com.

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

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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Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) has announced that it will file its 2020 audited financial statement on or before May 31, 2021. In addition, the company released a brief company update featuring highlights of 2020. The update noted that Q4 2020 product sales for the company totaled an estimated CDN $26.5 million, which was a 218% increase over the Q3. The company also completed its acquisitions of Acreage Florida Inc., PV (“PV”) and Mid-American Growers. RWBYF also entered into a definitive agreement to purchase one of only 21 cannabis licenses and operations in Illinois. The company submitted required applications to complete the acquisition of all the assets of PharmaCo. and raised more than US$110 million in the first four months of 2021. In addition the company has either finalized or has entered into definitive agreements for the acquisition of THC-licensed entities in Michigan, Illinois, Florida, California and Massachusetts. The company noted that upon the closing of all planned acquisitions, RWB branded products will be available in six of the top 10 states in the country, measured by cannabis revenue, with sales in 2020 totaling more than $8.8 billion. “Despite our frustration with the delay in releasing our results for 2020, we are thrilled with what we have accomplished over the year, and the first few months of 2021,” said Red White & Bloom Brands CEO and chair Brad Rogers in the press release. “I see a company that has grown from being an arm’s-length investor in Michigan to a footprint that will see RWB deploy its house of brand strategy in six of the most coveted cannabis markets in the United States.”

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

About Red White & Bloom Brands Inc.

Red White & Bloom Brands is positioning itself to be one of the top-three, multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Florida, Illinois, California, Michigan, Oklahoma and Arizona with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com.

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

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

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