CannabisNewsBreaks – Sugarmade, Inc.’s (SGMD) BudCars on Pace to Set Multiple New Performance Records

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today issued a mid-month performance update for July, which is now on pace to set multiple new Company performance records for sales, gross profits and total customer orders. The Company is on pace to meet or exceed its target of $650,000 in total July sales, with well over 5,000 individual customer orders likely this month, suggesting that sequential month-over-month topline growth will be at or above the Company’s target 30% level. “Our BudCars Sacramento hub continues to demonstrate accelerating growth that suggests we still haven’t really found the ceiling here in terms of period-over-period upside potential,” Jimmy Chan, CEO of Sugarmade, said in the news release. “Ultimately, this is gratifying to see because we have taken a unique approach to retail cannabis product distribution.”

To view the full press release, visit http://cnw.fm/9LdAX

About Sugarmade, Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. More information on Sugarmade can be accessed at: www.Sugarmade.com. Sugarmade sees opportunities in business operations that combine the best areas of on-demand consumer distribution with certain areas of synergistic manufacturing and packaging to create a business model that capitalizes on the many changes in the cannabis industry. The company has made agreements with several market participants, which will be announced in 2020. The company views these opportunities as scalable and capable of producing strong revenue growth for the company.

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

About CannabisNewsWire

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

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420 with CNW – White House Completes Reviewing FDA’s Cannabis Research Guidelines

Back in December 2018, Congress passed a bill legalizing the cultivation and sale of industrial hemp and its derivatives. CBD or cannabidiol is one of the chemicals produced by the cannabis plant, and research has found it to be effective against a wide range of medical conditions. An industry quickly grew to cater to the rising demand for CBD and by the time tons of companies were marketing and selling CBD products, the industry was still barely regulated.

For more than a year, advocates, stakeholders, and lawmakers have urged the U.S. Food and Drug Administration (“FDA”) to create a comprehensive regulatory structure and rein in the rogue elements in the industry. In May, the FDA authored a proposal plan titled Cannabis and Cannabis-derived Compounds: Quality Considerations for Clinical Research and sent it to the Office of Management and Budget. The White House recently completed its review of the proposal, according to a report by InsideHealthPolicy.

Although very few details about the proposal have been made public, an FDA spokesman previously said that it is related to the agency’s ongoing work to develop broader CBD regulations that could eventually allow for the marketing of cannabis products as dietary supplements or food items. “We recognize that there is substantial public interest in marketing and accessing CBD in a variety of products. We are working toward the goal of providing additional progress. There are many questions to explore regarding the science, safety, effectiveness, and quality of products containing CBD, and we need to do our due diligence.”

According to a recent statement from an FDA representative, the agency “cannot provide an update of when or even if this guidance will issue” despite the review being finalized. However, they stated that it would be announced via the Federal Register should it move to publication. This comes only days after the FDA released a spending bill that includes a provision providing “funding to develop a framework for regulating CBD products.” It also includes provisions to protect medical legalization laws from federal interference, provide marijuana businesses access to banking services, to expand cannabis research, and to oversee the country’s nascent hemp and CBD industries.

The FDA has in the past said that it has several specific questions it wants to be answered before deciding whether CBD can be lawfully marketed. This includes questions about the impact of different methods of consumption and drug interaction. The agency has consequently asked for public input on the safety and efficacy of CBD in a comment period that will be open indefinitely.

It wouldn’t be surprising to hear that sector players like Sugarmade, Inc. (OTCQB: SGMD) are eagerly waiting to learn what the research guidelines drafted by the FDA say about the industry.

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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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420 with CNW – Study Finds Marijuana Legalization in Colorado Reduced Crime in Neighboring States

For years, law enforcement and opponents of marijuana prohibition have argued that legalizing the controversial plant could lead to a surge in crime in neighborhoods hosting retail marijuana stores and spill over into neighboring states that still prohibit it. There have even been a few studies showing that this is indeed true, but according to researchers going through county-level crime data in municipalities neighboring two states which legalized marijuana, these studies may have been skewed. Ultimately, they found scant evidence that legalizing marijuana increased crime rates.

The research was conducted by Guangzhen Wu of the University of Utah, Francis D. Boateng of the University of Mississippi and Thomas Roney, an economic and statistical consultant based in Texas. The study, published in the Journal of Drug Issues looked at before and after crime data in Washington and Colorado, the first two states to pass adult-use cannabis laws in 2012, seeking to find out how neighboring states were affected after the passage of adult-use cannabis laws. After studying data on crimes such as robbery, aggravated assault, burglary, larceny, and motor vehicle theft, the researchers found that legalizing cannabis may have actually reduced certain major crimes in nearby jurisdictions.

“We did not detect any increases in the rates of multiple types of crimes in border counties of the non-legalized states bordering Colorado and Washington,” wrote the authors of the study. “Moreover, we observed a substantial reduction in certain types of crimes, namely property crime, larceny, and simple assault, in border counties in the Colorado region. This finding challenges the argument made by the opponents of legalization that marijuana legalization would increase crime.”

Existing research proving that legalizing marijuana increases crime rates is skewed and doesn’t account for all variables, the researchers say. Due to federal prohibition, banking institutions avoid working with the cannabis industry, forcing retail marijuana stores to operate on a cash-only basis. “As scholars have reasoned, the criminogenic effect of recreational marijuana dispensaries is largely attributable to the fact that marijuana sale is a cash-and-carry business, which exposes both the business and customers to criminal victimization,” says the study.

The researchers argue that decriminalization reduces crime instead, stating in the study that it shrinks “the underground marijuana market that is believed to be fertile soil for violent crime.” In fact, the data from Colorado suggested a ‘crime reducing effect’ of recreational marijuana legalization in Colorado on neighboring states. They concluded that recreational marijuana legalization in a state may not bring about negative consequences on crime in neighboring states, which challenges the assertions made by public officials in these neighboring states arguing a crime-inducing effect of legalization.

Analysts say that industry participants like Sugarmade, Inc. (OTCQB: SGMD) will be glad that the misconceptions about the marijuana industry are being dismantled, one at a time, by independent researchers.

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420 with CNW – Mississippi Medical Cannabis Campaigners Relieved After Controversial Bill Stalls

For the past few months, cannabis legalization activists and lawmakers in Mississippi have been trying to one-up each other with different marijuana legalization measures and resolutions. In early January, then Governor Phil Bryant said that he was opposed to an activist-led medical marijuana initiative that qualified for the ballot and hinted that state legislators would introduce a revised, alternative reform measure. Quite recently, Mississippi lawmakers introduced a new medical marijuana resolution that would have represented a threat to the activist-driven reform Initiative 65.

The resolution was introduced by Sen. Kevin Blackwell and it called for the suspension of legislative rules so that lawmakers could draft and file a bill to legalize medical marijuana in the state. The resolution advanced through the Senate Rules Committee last week but to advocates’ relief did not make it onto the floor. Although the lieutenant governor who presides over the Senate could call back the resolution before October 10, insiders expect that if it were to happen, it would be to approve emergency legislation related to the coronavirus pandemic.

The introduction of this resolution represents one of the many conflicts of interest between lawmakers and marijuana legalization activists in recent months. In March, lawmakers introduced an alternative medical marijuana resolution that will appear alongside the activist-backed initiative on the ballot. However, advocates have argued that the only reason Mississippi lawmakers passed the alternative resolution is to undermine them by confusing residents and splitting votes. Aside from banning patients who aren’t terminally ill from smoking medical marijuana, the legislature-driven initiative is less specific than the advocate-led measure, leaving more room for interpretation. Should it pass, lawmakers will be able to create a more restrictive program.

Last month, lawmakers introduced another resolution that would have suspended legislative rules, allowing lawmakers to craft legislation in accordance with the legislature-approved constitutional amendment that’s on the ballot. Although it cleared the Rules Committee, it did not make it to the floor. Another measure introduced by lawmakers last week doesn’t mention the constitutional amendment at all, but it would have simply let lawmakers start working on legalizing medical cannabis.

According to Jaime Graham, Communications Director for Mississippians for Compassionate Care, the group behind the legalization initiative, a marijuana business owner based in Arkansas orchestrated the legislature-led resolution introduced in March. “He hired Mississippi lobbyists and twisted arms in Jackson to design a program that would allow him to dominate the medical marijuana industry here in Mississippi.”

“It’s an attempt to exploit patients in Mississippi with debilitating medical conditions like cancer, seizures and multiple sclerosis, and to undermine the voices of 228,000 people who signed petitions to put Initiative 65 on the ballot for Mississippians to vote on in November.”

Experts say the whole marijuana industry, including companies like Sugarmade, Inc. (OTCQB: SGMD), will be relieved when Mississippi finally has a medical marijuana law that truly serves the needs of the residents and not those of selfish groups.

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420 with CNW – Jamaica to Permit Medical Marijuana to be Sold Online

Although the cannabis industry has taken plenty of hits from the coronavirus pandemic, the health crisis has allowed the pot industry to make, within months, advances that would have undeniably taken years or even decades. In plenty of states and territories, cannabis was one of the handful of industries declared essential, and cannabis sellers were allowed to continue operations while other businesses shut down. And to ensure both the vulnerable customers and staff kept minimal contact and stayed safe, additional safety measures like online booking, curbside pickups, and home deliveries were also allowed.

This was met with appreciation from stakeholders and advocates, and they hoped that measures like online bookings and home deliveries could continue even after the pandemic finally died down. Jamaican officials heeded to this call, and it was recently announced that Jamaican patients will be able to purchase their medical marijuana from the comfort of their homes.

The policy change allowing online sales is part of the country’s ongoing efforts to reduce the coronavirus pandemic’s effect on the marijuana industry. “The CLA is cognizant of the far-reaching effects of the pandemic and remains vigilant and proactive in taking steps to secure the industry,” says Director of Enforcement and Monitoring, Faith Graham.

“Licensed retail herb houses can now sell to their qualified customers from online platforms, following measures established by the Cannabis Licensing Authority (CLA) to facilitate this,” says a posting on Jamaica Information Service. The CLA is an agency of the Ministry of Industry, Commerce, Agriculture, and Fisheries created in 2015 to establish and regulate Jamaica’s legal cannabis and hemp industry.

The CLA states that in order to purchase medicinal cannabis from an herb house, “patients must have previously visited and registered with the herb house. Under the interim protocols, licensees are required to provide documents, including government-issued photo documentation and valid prescription or recommendation from a registered medical practitioner to the CLA at stipulated intervals.” In consultation with the Ministry of Industry, Commerce, Agriculture, and Fisheries, the CLA have created guidelines to enable the online sale of medical cannabis to qualified patients as well as curbside pickups at licensed retail facilities.

This will allow medical marijuana patients, who include the elderly and those with compromised immune systems, to purchase medical marijuana from the comfort and safety of their homes and pick it up later. This will ultimately reduce congestion in retail herb houses.

Experts say these developments in the Jamaican cannabis space are likely to be welcomed by sector players elsewhere, such as Sugarmade, Inc. (OTCQB: SGMD) since any patient who benefits from marijuana makes the entire industry happy that it has contributed to the wellbeing of someone, somewhere.

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CannabisNewsBreaks – Sugarmade, Inc.’s (SGMD) BudCars on Pace to Hit Annualized Revenues at or Above $11M

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today provided an update on revenue expectations for July and calendar Q3 BudCars performance. According to the update, management now forecasts continued month-over-month sequential sales growth of 30% in July and August, positioning the Company for July sales of at least $650K, and a pace lined up to close out September with annualized BudCars revenues running at or above $11 million. “We believe we have enough visibility and enough data in hand to forecast that we will continue to see extremely robust growth in July and August,” Jimmy Chan, CEO of Sugarmade, stated in the news release. “Many of the trends we saw come together in June to drive our performance remain in place and suggest new records across many metrics are likely this month as well.”

To view the full press release, visit http://cnw.fm/1qk0Q

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Its Brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, please reference www.Sugarmade.com.

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

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420 with CNW – Lawmakers in Virginia Reveal Plans to Legalize Cannabis

As of July 1, 2020, Virginia’s marijuana decriminalization policy officially came into effect, making the Commonwealth of Virginia the 27^th state to enact such a policy change. This came a month after Gov. Ralph Northam signed a bill that would make possession of up to one ounce of cannabis punishable by a $25 fine with no threat of jail time and no criminal record. Prior to this policy change, simple possession was punishable by a maximum $500 fine, up to 30 days in jail and a criminal record.

And just a day after the marijuana decriminalization law took effect, Virginian lawmakers announced their plans for a legal cannabis market. On July 2, 2020, a group of Democratic state legislators announced plans to introduce a bill to legalize and regulate a commercial cannabis market. The measure won’t be filed until next year, but lawmakers have said that the legislation is necessary in the fight for racial and social justice.

“Decriminalizing marijuana is an important step in mitigating racial disparities in the criminal justice system, but there is still much work to do. While marijuana arrests across the nation have decreased, arrests in Virginia have increased,” says House Majority Leader Charniele Herring. The measure for broader cannabis legalization was also backed by Sens. Adam Ebbin, Jennifer McClellan, and Del. Steve Heretick.

“This bill will prevent low-level offenders from receiving jail time for simple possession while we move toward legalization with a framework that addresses both public safety and racial equity in an emerging market,” says Herring regarding the decriminalization bill. She sponsored it in the House of Delegates while Ebbin led it in the Senate. The bill also contains a provision to study further legalization, and it requires agencies including the “Secretaries of Agriculture and Forestry, Finance, Health, and Human Resources, and Public Safety and Homeland Security” to convene an expert working group to study further legalization. The panel is expected to turn in a report in November.

The Joint Legislative Audit and Review Committee (“JLARC”) is also studying the impact of possible legalization and its report is due in December. According to lawmakers, the JLARC report would inform how they shape the legalization bill they plan to file in 2021. “Elements of the JLARC study include a review of best practices from states such as Illinois that have developed a legal framework, testing and labeling recommendations, and measures to reduce illicit sales,” said a press release from Ebbin’s office.

“The study will also examine how best to provide redress and economic opportunity for communities disproportionately impacted by marijuana prohibition, and recommend programs and policies to reinvest in affected communities.”

Analysts say this plan to go for full legalization of marijuana in Virginia is likely to be watched closely by cannabis companies like Sugarmade, Inc. (OTCQB: SGMD) who would like all adults to be free to choose whether to or not to consume cannabis as is the case with alcohol and cigarettes.

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420 with CNW – Congress Passes Bill Granting Researchers Access to Commercially Available Marijuana

Last week, the U.S. House of Representatives approved a bill aimed at allowing researchers to have access to the marijuana available commercially in states where legal recreational, and/or medical marijuana programs exist. This new legislation would mark a major shift from the current practice where researchers can only use the cannabis supplied by a federally licensed manufacturer in Mississippi.

The primary goal of the marijuana provision, which is found deeply embedded in an infrastructure bill detailed in a more than 2,000-page document, is to make it possible for marijuana products to be transported and distributed across state lines, including in states that don’t yet have state-legal marijuana markets in place.

The INVEST in America Act also contains provisions that would require states with marijuana programs to establish mechanisms for teaching residents to avoid driving while under the influence of marijuana.

The section on setting up highway safety education programs didn’t go down well with marijuana law reform advocates for a number of reasons. First, a congressional research team authored a report stating that there wasn’t any conclusive evidence that the consumption of marijuana resulted in impaired driving.

Secondly, marijuana policy reform advocates are opposed to the highway safety education provision because it implies that the legalization of marijuana results in an increase of impaired driving. If anything, marijuana is also consumed in states that haven’t enacted marijuana legalization measures, so any education efforts aimed at curbing or preventing impaired driving would also benefit the states where legal marijuana markets don’t exist.

During the debate of the bill on the floor of Congress, numerous amendments were suggested. Many of them were rejected or withdrawn, while others were adopted.

For example, an amendment that would provide funding for a pilot program enabling states to test for drugs in wastewater was included. The funds would also enable municipal authorities to design public health programs in accordance with the findings of the drugs tests done.

All in all, the provisions giving researchers access to commercially available marijuana in states with regulated cannabis markets was welcomed by marijuana policy reform advocates. For example, NORML said that it was hard to comprehend why scientists couldn’t access the marijuana available in state-legal dispensaries yet ordinary residents could walk in and buy these products. Scientific research needed to be conducted using the same products that people are consuming in order to get results which were applicable to the community, NORML argued.

The DEA has also taken steps to increase the number of suppliers of research-grade marijuana products. It now remains to be seen whether the Senate will maintain the pro-marijuana provisions in the transportation bill. Analysts say entities like Sugarmade, Inc. (OTCQB: SGMD) will be hoping that the law sails through so that researchers don’t have to go through endless hoops to get approval for their planned studies on marijuana.

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420 with CNW – Colorado Governor Signs Bill Allowing Expedited Pardons for Marijuana Possession Convicts

On Monday this week, Gov. Jared Polis signed a bill which will promote social equity in Colorado’s marijuana industry. Under this law, the governor will also have the power to grant pardons to people convicted for marijuana possession before legalization took place. Previously, the governor was required to consult the judge and state prosecutors involved in each case before granting a pardon.

Gov. Jared Polis (D) signed this new bill during a ceremony held at one of the minority-owned businesses in Denver.

The new law is important because it provides a state-wide definition of what business is to be regarded as a social equity marijuana applicant. The businesses that qualify will enjoy an accelerator program which had been planned before the bill was drafted. Benefiting businesses will use existing marijuana facilities to grow their own businesses.

The bill, which was sponsored by Rep. James Coleman (D), sets out two additional categories through which businesses can be eligible for the social equity license. The purpose of these extra categories is to right the wrongs committed during the enforcement of the war on drugs.

The new law states that someone can qualify as a social equity applicant if;

They lived in a place designated as an economically distressed community for at least 15 years which should fall between 1980 and 2010.
The applicant, or a member of their immediate family, has ever been convicted or even arrested for a marijuana offense.
The applicant’s income is less than or equal to a certain threshold which will be determined later once the program is rolled out.

The supporters of this new law say that these provisions will clear the air with respect to the requirements in different jurisdictions, such as Denver, where marijuana equity programs had been enacted.

The state Assembly hadn’t included the provision giving the governor authority to issue unilateral pardons. However, the state Senate amended the bill and included this provision. The governor is now free to begin issuing these pardons, and the pardons will come into effect after 90 days once the signature has been appended to the paperwork.

Gov. Jared Polis said during the signing ceremony that it was wrong for people with convictions for possessing amounts of marijuana which are now legal to possess and consume to continue being unable to get mortgages, apply for jobs, get loans or other forms of capital due their criminal records.

Another notable provision in this bill is that it amends the current law which barred people with marijuana convictions from applying for marijuana business licenses. Under the new law, people applying under the social equity program will be exempted from this restriction.

Industry experts say the progressive direction taken in Colorado is likely to be applauded by sector players, such as Sugarmade, Inc. (OTCQB: SGMD).

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CannabisNewsBreaks – Sugarmade, Inc.’s (SGMD) BudCars Achieves Another Breakout Month With Record Growth in Every Metric

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today provided current and prospective shareholders with BudCars performance data for the month of June. According to the update, BudCars achieved total sales of $502,903 in June, representing 36% sequential monthly top-line growth, with total sales and profits now growing by more than 30% m/m for the third consecutive month. “June was another breakout month for BudCars growth across basically every single metric important to gauging our progress,” Jimmy Chan, CEO of Sugarmade, stated in the news release. “Our pricing improved. Our average order improved. We did more business with more people and booked a significant jump in gross profits while holding our 47% gross margin level as volume increased. We look forward to continued breakout growth in July.”

To view the full press release, visit http://cnw.fm/8ScL4

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