a MedCana) (SFWJ) Releases Report on Series of Acquisitions, Multiple Cannabis Licenses

Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ), a leading global infrastructure holding company focused on the pharmaceutical-grade cannabis industry, is reporting on recent acquisitions and cannabis licenses associated with the acquisitions. According to the announcement, the new acquisitions and licenses, which will add $1.6 million to company assets for the third quarter, are designed to bolster the company’s cannabis portfolio globally and solidify its position as a leading force in the cannabis sector. According to the announcement, the licenses include seven produce, process and sell CBD licenses; seven produce, process and sell THC licenses; seven fabrication of products containing cannabis licenses; and two genetics licenses.

“The acquisitions we have made put Medcana in a position to succeed and ensure profitably,” said MedCana CEO Gabriel Diaz in the press release.

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

About Software Effective Solutions

Software Effective Solutions/MedCana is a holding company focused on developing companies in the agricultural technology and the cannabis industries. As MedCana moves forward with its expansion plans, the company remains committed to delivering on its promise of building a solid foundation for future growth of its holdings. For more information, visit the company’s website at www.MedCana.net.

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

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 75+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

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420 with CNW — Study Says Medical Marijuana Legalization Increases Parenting Time, Boosts Child Development

A recent study indicates that the availability of medical cannabis might lead to increased parenting time by improving patients’ overall health. Published in the “Journal of Applied Economics,” the research notes that medical cannabis legalization enhances sleep and reduces inactivity, aligning with its health benefits.

According to the study, the legalization of medical cannabis can have a positive effect on a child’s development by allowing parents to spend more time with their kids, particularly if they are younger than six years old, a critical age for parental involvement. These advantages, however, are dependent on parents not abusing cannabis.

Legalizing medical marijuana, according to the researchers, results in more time spent with children. This is seen in both passive childcare, where parents watch over their children while working on other tasks, and active childcare, where parents play with their kids. Parents who are likely to benefit from medical marijuana and have greater parenting experience overall — especially those with small children — have more significant impacts from the drug.

The study’s data came from the American Time Use Survey (ATUS) conducted by the United States Bureau of Labor Statistics between 2003 and 2019. Participants in the ATUS recorded their daily activities every 15 minutes.

To measure the increase in parenting time, the researchers compared education levels between groups. Parents with some college education generally spent more time on active parenting than those with less education. The educational difference was reflected by a four-minute increase (12.56%) in active childcare and a ten-minute increase in passive childcare, accounting for 8.92% of the difference.

Nonworking parents spend more time on active childcare than working parents, with the study showing a 22-minute difference. The difference in childcare costs between working and nonworking parents can be attributed to treatment effects on active childcare (18%) and passive childcare (7%).

Parents with children under six years of age as well as those on weekends showed greater increases in parenting time. The report highlights that the increases are focused on activities such as playing with and looking after children, with no significant effect on more demanding tasks such as planning or organizing for children.

One argument is that medicinal marijuana facilitates the management of pain and other ailments, allowing parents to spend more time with their kids doing less physically demanding activities. This is consistent with the use of medical marijuana to treat depression, anxiety, insomnia and chronic pain.

Interestingly, men showed a greater increase in parenting time post-legalization compared to women, which aligns with previous research indicating men’s higher increase in marijuana use following legalization. Moreover, the effect was more pronounced in states with higher religious activity.

The study found no evidence that medical cannabis legalization negatively impacted productive time use, such as home production and market work, or led to increased tobacco or drug use.

However, a key drawback of the study is the lack of individual-level cannabis use data in the ATUS. “Moreover, it is imperative to interpret the results in light of the USA’s global leadership in the consumption of opioid analgesics, which could serve as a viable alternative to medical cannabis,” the authors noted.

The findings of this study are likely to provide some additional validation for numerous companies such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) that are engaged in commercializing medical marijuana products that target different health conditions, such as chronic pain.

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. 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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Software Effective Solutions Corp. (SFWJ) Dedicated to Becoming Leader in Growing Cannabis Sector

A recent report projects that the cannabis market, which totaled an estimated $27.7 billion in 2022, will reach $82.3 billion by 2027
The forecast includes businesses and enterprises involved in the cultivation, processing, distribution and sale of cannabis and cannabis-related products
MedCana is building technology, laboratories, growing facilities and scientific teams to provide premium pharmaceutical-grade cannabis extracts to the world

With the worldwide cannabis market projected to see a compound annual growth rate (“CAGR”) of 24.3% in the next three years, Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ) is committed to strengthening its foothold in the growing space. The company, which is committed to being a global force for better cannabis products, is determined to be the world’s premier resource for pharmaceutical cannabis products.

“The cannabis market is estimated at $27.7 billion in 2022 and is projected to reach $82.3 billion by 2027, at a CAGR of 24.3%,” reported a MarketsandMarkets article earlier this year (https://cnw.fm/NorFm). “In recent years, the cannabis industry has experienced significant growth and expansion, driven by increasing legalization efforts in various parts of the world, shifting public attitudes towards cannabis use and recognition of its potential medicinal benefits. This growth has led to the emergence of a diverse range of companies, including large-scale producers, dispensaries, manufacturers of cannabis-derived pharmaceuticals, technology firms developing innovative cultivation and extraction methods, and ancillary businesses providing services such as packaging, branding, and legal support.”

Noting that the term “cannabis industry” refers to the collection of businesses and enterprises involved in the cultivation, processing, distribution and sale of cannabis and cannabis-related products, the article outlines several factors likely to contribute to the sector’s growth, including legalization efforts, product innovation, investment and M&A activity, and the regulatory landscape.

The article also noted that “the medical cannabis segment is expected to continue growing, driven by increasing recognition of cannabis’s therapeutic properties and its potential to treat various medical conditions. Pharmaceutical companies are also investing in cannabis-based medications, contributing to market expansion.” In addition, “The recreational cannabis market is [also] forecasted to see continued growth, particularly in regions where legalization has occurred or is expected. Changing attitudes towards cannabis use and increasing consumer acceptance are key drivers in this segment.”

These factors all point to a promising cannabis sector moving forward, with MedCana committed to doing the work necessary to become a leader in the space. The company is building the technology, laboratories, growing facilities and scientific teams needed to provide premium pharmaceutical-grade cannabis extracts to the world, all with absolute integrity, sustainability and social responsibility (https://cnw.fm/D4Au8).

MedCana is a global infrastructure and holding company in the cannabis industry. The company currently has five divisions focused on pharmaceutical cannabis production, as well a software division focused on managing processes for plant-to-patient operations. The recent acquisition of an irrigation and greenhouse technology division has rounded out MedCana’s portfolio of holdings.

For more information, visit the company’s website at www.MedCana.net.

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

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

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Software Effective Solutions Corp. (SFWJ) Takes Critical Steps Toward Achieving Global Production and Processing Vision

MedCana has identified Colombia’s Antioquia Valley as a perfect location to begin its initial rollout of technology and production
The company is working with five subsidiaries in the area, each of which has three licenses to produce, process and export cannabis
Equally important to MedCana is working closely with the people of the Antioquia Valley and maintaining its commitments to its investors

Cannabis legalization is not exclusive to North America. So far, more than 40 countries have legalized cannabis fully or partially for medical and/or adult use (https://cnw.fm/H7Jbq). With its focus on the global horizon, Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ) has a vision of building its partner companies into one of the world’s most advanced cannabinoid production and processing organizations.

MedCana has taken the first step in achieving that global mission. Recognizing that ideal climate conditions produce a better yield, the company announced that it has “searched the world over, and we believe the Antioquia Valley, near Medellin [Colombia], is the perfect location to begin our initial rollout of technology and production. We are partnering with companies [in the valley] to begin implementation of our technology and tools with our partners.

“The 6,900-foot elevation and latitude provide optimal spring-like weather year-round,” the announcement continued. “Natural rainfall and multiple artesian springs mean perfect, clean water. The soils are rich, and combined with the long days of sunshine, we can complete four complete growth cycles per year. This means access to highest-quality, inexpensive, certified materials in order to produce the highest-grade pharmaceutical extracts needed by the top pharmaceutical companies in the world” (https://cnw.fm/xCkap).

MedCana is working with five subsidiaries, each of which has three licenses to produce, process and export cannabis. Currently, the five companies are sharing 100 acres of some of the “finest land on earth” for development; the property includes fresh artesian springs, river frontage and majestic countryside.

On top of ideal outdoor growing conditions, MedCana companies are also building greenhouses to take full advantage of all the climate offers. The first phase of production includes an estimated seven acres of initial greenhouse space combined with state-of-the-art monitoring technology and highly trained staff.

“Because of excellent weather, long days and highly skilled, inexpensive labor, costs decrease dramatically,” the company reports. “An average of 12 hours of sunshine every day, perfect local soils, and plentiful rain and natural springs mean we’ll be able to grow up to four full seasons per year without the cost of expensive and power-hungry lighting.”

However, MedCana isn’t singularly focused on profit. Equally important to the company is working closely with the people of the Antioquia Valley and maintaining its commitments to its investors. “MedCana is out to prove you can do good and do well,” the company promises. “Our initial partnership in the Antioquia Valley operation will employ people from the local villages and pay some of the best salaries for agricultural trades in the country. In addition, MedCana will give back to the local communities to improve the lives of the residents. Schools, clinics, and civic projects will all benefit from our operation.

“And by doing good, we’ll do well,” the company continues. “Even with the high local salaries, our partner companies will be operating at costs far lower than in the United States, Europe and Asia. We estimate that all our efficiencies will result in a lower price of finished, top-quality, pharmaceutical grade CBD oil, [with costs] dramatically lower than production in the Northern Hemisphere.”

For more information, visit the company’s website at www.MedCana.net.

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

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420 with CNW — Marijuana Companies in Europe Consider Listing in US as Rescheduling Progresses

A number of European marijuana start-ups are thinking about listing in New York due to the anticipated reclassification of marijuana by federal authorities as a less harmful narcotic. Although the companies haven’t finalized their plans, they are drawn to the U.S. market’s increasingly favorable stance on cannabis and CBD products.

Statista estimates that this year’s CBD market might be valued at approximately $6.90 billion.

Under the new U.S. regulations, cannabis may be moved from the highly restrictive Schedule 1 of the Controlled Substances Act (CSA), which also includes LSD, heroin, and fentanyl, to the less restrictive Schedule 3, placing it in the same category as ketamine and anabolic steroids.

This move may encourage many cannabis companies in Europe and the United Kingdom to list on U.S. exchanges rather than European ones, where laws governing CBD products are still very strict. For example, whereas some European nations permit CBD e-liquids, they only allow CBD edibles if approved by the European Food Safety Authority.

Most European nations do not completely ban CBD products but enforce a limit on the quantity of THC, the main psychoactive component of marijuana. Certain nations, including the UK and Sweden, forbid the sale of any CBD products that include THC, while Andorra, Belarus and Albania have complete CBD bans.

Companies including London-based Grow Group and Wellford Medical have stated their intention to go public on NASDAQ early in 2025. Lisbon-based Somai Pharmaceuticals has hinted that it may seek a NASDAQ listing in addition to secondary listings on the Toronto Stock Exchange or the London Stock Exchange.

Despite these developments, federal rules in the United States still prohibit large U.S. marijuana companies, such as Curaleaf, Cresco Labs, Verano Holdings Corp. and Trulieve Cannabis Corp., from listing on U.S. exchanges, including the NASDAQ and the New York Stock Exchange (NYSE). As a result, many of these businesses choose to trade on Canadian platforms, including the Toronto Stock Exchange and the Canadian Securities Exchange. On the other hand, the United States does permit Canadian marijuana companies, such as SNDL and Canopy Growth, to list on its platforms.

A greater number of European and UK companies may choose to relocate from their home markets to the U.S. if cannabis is reclassified, especially given the difficulties major European stock exchanges like the LSE are having keeping up with company growth and IPO activity.

There has been growing pressure on the U.S. federal government to reclassify cannabis due to its medicinal and therapeutic benefits. Products containing CBD oil, including tinctures, lotions and candies, are given to treat pain and other side effects of chemotherapy, in addition to treating anxiety, discomfort and memory issues. Additionally, an increasing number of U.S. states have legalized recreational cannabis.

However, critics counter that marijuana might be toxic and could serve as a gateway drug for more potent substances.

As marijuana companies in Europe prepare to list in the United States, they will find other established companies such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) already accessing capital from North American investors, and competition for these resources could tighten even more.

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

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Software Effective Solutions Corp. (SFWJ) Strengthening Cannabis Foothold as CSA Status Set to Change

An overwhelming share of U.S. adults say marijuana should be legal for medical or recreational use, reports Pew Research Center
The U.S. attorney general has submitted official notice to begin the process of moving marijuana from a Schedule 1 to Schedule 3 drug under the Controlled Substances Act
MedCana is committed to building the technology, laboratories, growing facilities and scientific teams to provide premium pharmaceutical-grade cannabis extracts

With a significant majority of Americans supporting cannabis use and the U.S. government on the verge of changing the status of the substance under the Controlled Substances Act (“CSA”), Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ) is positioning itself for marked growth and success in the coming months. The company’s goal is to be the world’s premier resource for pharmaceutical cannabis products.

“As more states pass laws legalizing marijuana for recreational use, Americans continue to favor legalization of both medical and recreational use of the drug,” revealed a recent Pew Research Center survey (https://cnw.fm/fCQAD). “An overwhelming share of U.S. adults (88%) say marijuana should be legal for medical or recreational use.

“Nearly six in ten Americans (57%) say that marijuana should be legal for medical and recreational purposes, while roughly a third (32%) say that marijuana should be legal for medical use only,” the report continued. “Just 11% of Americans say that the drug should not be legal at all.”

After many years, the federal government is seemingly catching up to public opinion. In May the Justice Department announced that the attorney general had submitted official notice to begin the process of considering moving marijuana from a Schedule 1 to Schedule 3 drug under the CSA (https://cnw.fm/xHGvC).

“Marijuana has been classified as a Schedule 1 drug since Congress enacted the CSA in 1970,” the announcement noted. “On Oct. 6, 2022, President Biden asked the attorney general and the secretary of Health and Human Services (‘HHS’) to launch a scientific review of how marijuana is scheduled under federal law. After receiving HHS’s recommendations last August, the attorney general sought the legal advice of the Justice Department’s Office of Legal Counsel (‘OLC’) on questions relevant to this rulemaking. In light of HHS’s medical and scientific determinations, and OLC’s legal advice, the attorney general exercised his authority under the law to initiate the rulemaking process to transfer marijuana to Schedule 3.”

The process to make the change includes several steps, including a public comment period and final judicial review. “Still, the reclassification of cannabis would mark a new era in America’s often contradictory relationship with a substance already legalized in one form or another in more than half the states,” stated an article in The Week (https://cnw.fm/3pLq1).

The Week noted that perhaps the most significant change reclassification would bring would be increasing governmental ability to conduct further research into the health benefits of cannabis. The article stated that “reclassification also means the government acknowledges cannabis, like all other Schedule 3 substances, has an ‘accepted medical use and may lawfully be dispensed by prescription,’ the Congressional Research Service said. However, any such prescriptions must be approved by the Food and Drug Administration.

“Beyond expanding and easing access to federal research opportunities, reclassifying cannabis will have a major impact on the booming — but still legally murky — marijuana industry as a whole,” the article observed.

With these looming changes as a backdrop, MedCana’s commitment to building the technology, laboratories, growing facilities and scientific teams needed to provide premium pharmaceutical-grade cannabis extracts to the world is perfectly timed. Committed to absolute integrity, sustainability and social responsibility, MedCana is a holding company focused on developing companies in the agricultural-technology and the cannabis industries. As MedCana moves forward with its expansion plans, the company remains committed to delivering on its promise of building a solid foundation for future growth of its holdings.

For more information, visit the company’s website at www.MedCana.net.

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

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420 with CNW — Maryland Celebrates a Year of Adult-Use Cannabis, Pardons and Massive Growth Realized

Maryland saw a windfall of more than $14 million from cannabis sales taxes in just the first quarter of this year. As the state celebrates the first anniversary of legal recreational cannabis, sales continue to climb.

Connor Whelton, ReLeaf CEO and cofounder, says business is thriving in this environment. He and his team have introduced creative ways to serve their customers. From home-delivery services to a walk-up window and an inviting in-store menu, the Maryland-based company made accessibility a priority. Whelton says he notices a shift in his clientele as the negative perceptions of marijuana diminish.

With recreational cannabis now legal in 24 states, the U.S. Drug Enforcement Administration is working on reclassifying the substance to a less hazardous category under the Controlled Substance Act (CSA).

According to a Carnegie Mellon University survey, the number of daily cannabis users has surpassed that of regular alcohol drinkers for the first time, with younger persons being the main drivers of this development. Further, a 2022 New Frontier Data survey found that 69% of adults between the ages of 18 and 24 would rather use cannabis than alcohol.

Maryland legalized adult-use marijuana in July 2023. The excitement was palpable, with many eagerly lining up to make their purchases. Since then, recreational sales have surpassed medical sales.

Recreational sales have generated $462 million in sales so far this year, with sales of $63 million in April alone, compared to $30 million in medical sales. The comptroller’s office reported that from January to March, the state collected $14.6 million in sales taxes. With $6.7 million, the D.C. region made the largest contribution, followed by the Baltimore region with $3.7 million. Additionally, more than $4 million will be reinvested in lower-class communities affected by the drug wars.

Ben Burstein of Leaf Link, a wholesale marketplace, praised Maryland’s market launch as one of the most successful in the decade-long history of legal marijuana sales. He noted that the state’s sales have more than doubled since the introduction of the recreational market.

However, marijuana retail prices in the state remain relatively high, with the median price per gram being $9.64. “Maryland had the highest pricing per unit in the country last summer. Although prices have begun to decline, they are still expensive in comparison to other states,” noted Burstein.

The state recently gained national attention when Governor Wes Moore pardoned more than 175,000 individuals convicted of minor cannabis-possession charges. The state has also launched a program to help those formerly convicted secure jobs in the marijuana industry.

Equity has been a focal point in Maryland’s licensing process. The state made history by becoming the first to offer a licensing round limited to eligible social-equity candidates for all license types.

The booming market for adult-use marijuana in Maryland is likely to spawn many success stories by licensed companies in the state following the trajectory of more successful entities elsewhere that are operating in other legal markets within the country, such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ).

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

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Software Effective Solutions Corp. (SFWJ) Dedicated to Creating Unparalleled Tech, Labs, Facilities and Teams in Cannabis Space

MedCana offers a long list of proprietary essential services to its clients
The company’s team of pharmaceutical scientists includes some of the world’s most respected chemists
From initial grow to final product, MedCana helps partners produce pharmaceutical CBD and other extracts that have no equal

As the cannabis industry prepares to enter a new era with a pending schedule change in the Controlled Substances Act (“CSA”), Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ) is committed to being a worldwide force for high-quality cannabis products. To achieve this lofty goal, the company is focused on building the technology, laboratories, growing facilities, and scientific teams needed to provide premium pharmaceutical-grade cannabis extracts to the world (https://cnw.fm/858iB).

Leading the way forward in the cannabis space, the company offers a long list of essential resources and services for its clients. That list includes proprietary blockchain technology to track every product from seed to the growing facility to the final product; a team of expert scientists, engineers and chemists from the United States and Colombia; state-of-the-art laboratory equipment; partners with growing facilities in Colombia; and an impressive international management team from the U.S. and Colombia.

MedCana’s team of pharmaceutical scientists includes some of the most respected chemists in the world. This extraordinary group is committed to ensuring that MedCana customers and partners can create premium pharmaceutical-grade cannabis extracts that satisfy the growing worldwide demand while also meeting the highest industry standards.

Unlike any other software in the market, the company’s proprietary software ensures traceability and quality from seed to products. In addition, one of MedCana’s partners will be a globally certified lab that will provide certification for distribution through the Pharmaceutical Inspection Co-operation Scheme (PIC/S). PIC/S presently comprises 54 participating authorities worldwide, including Europe, Africa, America, Asia and Australia.

As MedCana works to achieve its objective of becoming a worldwide cannabis-market force, the company’s initial emphasis is on partnering with and developing companies in Latin America with a focus in Colombia and partnerships with laboratories, research facilities, and hospitals throughout the world. “MedCana’s advantage is our global view and reach,” the company states. “From initial grow to final product, we’ll be helping partners produce pharmaceutical CBD and other extracts that will have no equal.”

Software Effective Solutions is a global infrastructure and holding company in the cannabis industry. MedCana currently has five companies focused on pharmaceutical cannabis production, as well a software company focused on managing processes for plant-to-patient operations. The recent acquisition of an irrigation and greenhouse technology company rounds out MedCana’s portfolio of holdings.

For more information, visit the company’s website at www.MedCana.net.

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

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420 with CNW — Ohio Companies Prepare for Recreational Cannabis Sales Launch

Ohio’s move from solely medical cannabis sales to also allowing recreational sales is taking a unique path compared to other states. The specific date for the start of recreational sales remains unclear, even though the application period for converting medical cannabis licenses to dual-use began on June 7, 2024. Industry insiders anticipate that the first dual-use licenses might be approved in the coming weeks, but state officials have not confirmed this timeline.

Ohio’s regulators are also prioritizing applications from testing labs, cultivators and processors over retailers. This means cannabis businesses and consumers will see approvals happen in stages based on when applications are submitted and whether applicants meet all necessary criteria, such as inspections and POS systems that differentiate between recreational and medical sales.

Projections suggest that Ohio’s marijuana sales could surpass $1 billion by 2025 and potentially reach $2 billion by 2028. The state’s sizable population (nearly 12 million people) and strategic location are key factors in this growth, likely drawing in many new consumers despite a decline in medical cannabis patients.

Of the five states Ohio borders, only Michigan has licensed recreational cannabis sales. Other states, including Wisconsin and Indiana, still don’t have any form of regulated cannabis program, which could also boost Ohio’s market. Minnesota, meanwhile, is preparing to launch its recreational cannabis market next year.

The move to recreational sales in Ohio was spurred by a voter-approved ballot initiative in a November 2023 special election. When Ohio issues its first recreational licenses, it will become the 21st state in the United States to do so, following Maryland and Missouri, which began their recreational markets in July and February of 2023, respectively. The gap between these launches is the longest seen since the first states legalized recreational cannabis more than 10 years ago.

As the state prepares for the new market, its medical-cannabis sector has seen a decline in sales and patient numbers. The latest figures show 165,746 registered patients, a drop of nearly 15,000 since last November. For comparison, Pennsylvania, with a similar population size, had more than 441,000 registered patients as of April, a figure that has increased by more t han 6,000 since November.

One reason for the decline in Ohio’s medical-cannabis patients could be the lower prices in Michigan, where many Ohio residents purchase their products. In 2023, Ohio’s medical-cannabis dispensaries reported sales of $484 million, a modest 1% increase from the previous year. To support the market, Ohio regulators reduced the fee for caregiver and patient cards to just one cent in March.

Most operators are expected to apply for dual-use licenses. According to the voter-approved law, the converted licenses must be issued by September 7, 2024. Regulators also need to complete the recreational market guidelines by this date. Until then, the market will adhere to medical cannabis standards, delaying the availability of pre-rolls and the increase of THC potency caps on concentrates. Smoking accessories such as rolling papers and delivery services are also restricted.

The wider marijuana industry, including leading entities such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ), have their eyes on Ohio and are rooting for this latest addition to the adult-use markets to launch without major hiccups such as those that have dogged the market in New York State.

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

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Software Effective Solutions Corp. (SFWJ) Notes Subsidiaries Making ‘Remarkable’ Advancements in Array of Sectors Around the World

Recent report projects global cannabis market to reach $444.34 billion by 2030
MedCana and its subsidiaries are focused on establishing stronghold in this expanding space
MedCana is committed to advancing cannabis production and agricultural technology around the world, while also driving innovation and promoting sustainability

The cannabis industry continues to grow, as it has consistently for the past several years. Recent projections value the global cannabis market at almost $445 billion by 2030 (https://cnw.fm/k4VDg). This is good news for Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ), a leading entity in the cannabis and agricultural technology sectors. Recently, MedCana noted remarkable advancements across its diverse portfolio, which includes five companies focused on pharmaceutical cannabis production, as well as a software company focused on managing processes for plant-to-patient operations (https://cnw.fm/a2HeY).

“The global cannabis market size is projected to grow from $57.18 billion in 2023 to $444.34 billion by 2030, at a CAGR of 34.03% during the forecast period,” reported Fortune Business Insights, which noted that cannabis has been used for thousands of years for its therapeutic and medicinal benefits. “Marijuana legalization is gaining momentum across the globe. This momentum is driven primarily by increasing recognition that the product may have a range of legitimate medicinal benefits and therapeutic applications. It is the most widely cultivated, trafficked and consumed drug worldwide.”

MedCana is focused on positioning itself in this expanding space. The company reports that its subsidiaries are seeing significant success in different parts of the world. Several business units are currently in the final stages of negotiations to determine specific varietals to export to Europe and Australia; both countries are expected to see significant growth in their cannabis markets in coming years. In addition, the company’s South American subsidiary, Eko2o Environmental Solutions S.A.S., is rapidly expanding its reach within the agricultural industry, specifically eyeing growth in the Costa Rica and Central American markets (https://cnw.fm/HxRhQ).

Clearly, MedCana is poised for growth and profitability. The company’s deliberate decision to focus on cannabis production is bearing fruit, with operations working to meet the stringent quality and regulatory standards of the European and Australian markets. When these standards are met, the resulting expansion is expected to significantly boost MedCana’s international presence and open new avenues for growth.

“We are delighted with the progress we’ve made across all fronts,” said MedCana CEO Jose Gabriel Diaz. “The final negotiations for cannabis exportation and the rapid expansion of Eko2o’s technology distribution mark a significant milestone in our journey. We are now closer than ever to achieving profitability and solidifying our position as industry leaders.”

MedCana is committed to advancing cannabis production and agricultural technology around the world, while also driving innovation and promoting sustainability. As the company moves forward with its strategic growth plans, stakeholders can expect to see enhanced profitability and a stronger global presence.

Software Effective Solutions/MedCana is a holding company focused on developing companies in the agricultural technology and cannabis industries. The company remains dedicated to delivering on its promise of building a solid foundation for future growth of its holdings.

For more information, visit the company’s website at www.MedCana.net.

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

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