420 with CNW – Cannabis Could Hold the Key to the US Obesity Pandemic

For the past decade and more, the U.S. has been up against a silent but deadly foe, obesity. According to statistics from the Centers for Disease Control (CDC), 36.5% (one third) of American adults and 17% of children were obese by 2019, and the numbers aren’t reducing any time soon. Further research has suggested that over half of the country’s population will be obese within the next ten years, with one in ten Americans being severely obese.

While there are genetic factors that will increase your chances of being obese, it is often a result of poor lifestyle choices, and it has led to a massive surge in type 2 diabetes cases. Ultimately, the best defense against these two deadly conditions is an active lifestyle coupled with a healthy diet. Fortunately, studies have found that cannabis may be a unique treatment to the obesity pandemic that’s been sweeping the country.

How so? First, you have to understand how obesity has become such a big issue in America.

A common joke among non-Americans and Americans themselves is that American portions are comically large. Most of the time, these aren’t healthy foods, and the unfortunate thing is that they are extremely accessible. Constant consumption of such high fat and sugar diets will literally rewire your brain’s reward system, so that each time you indulge in something sweet your brain gets flooded with ‘feel good’ hormones. Thus you will seek out and ingest more sugar, falling into a rabbit hole of low impulse control and unhealthy eating that will lead to obesity and diabetes.

Enter cannabis. Cannabis works by interacting with the endocannabinoid system (ECS), a peripheral nervous system that regulates functions like sleep and pain that determine the internal balance or homeostasis of the body. It produces a variety of chemicals, or cannabinoids, unique to the cannabis plant, and they interact with this system. THCv, or delta-9 tetrahydrocannabivarin, for instance, is involved with lipid and glucose metabolism, and clinical studies on type 2 diabetes have found that it influences glycemic control. In tests on mice, cannabidiol (CBD) has been found to lower the occurrence and delay the onset of diabetes.

Researchers have also suggested that due to its impact on the fat cells that make up the adipose layer, CBD could be used as a potential treatment for diabetes. Cannabis also produces a range of terpenes, many of which have antioxidative properties that promote lipid and glucose metabolism as well as limit chronic inflammation. Ocimene and alpha-bisabolol are especially potent antioxidants, and they can suppress the production of several different inflammatory substances which can lead to type 2 diabetes and hypertension.

Your first defense against obesity and conditions like diabetes and hypertension should be a healthy diet and lifestyle. Coupled with the therapeutic potential of cannabis, this will go a long way in keeping you fit and healthy.

This information is likely to be music to the ears of cannabis companies like Sugarmade Inc. (OTCQB: SGMD) which are convinced that the full benefits of the cannabis plant could take decades to be fully documented.

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

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Featured in Global Small Cap Research Report

Sugarmade (OTCQB: SGMD) was recently the subject of a report conducted by Global Small Cap Research (http://cnw.fm/W1a82). An article discussing the report reads, “Outlining what it called a ‘near-perfect business world’ for cannabis delivery operators, the report made a strong case by observing that ‘Sugamade is enjoying participation in a rapidly growing market. . . . Few if any, marketplaces are growing faster than cannabis — and the California market is the epicenter of growth.’ The report stated that during 2019, the cannabis market produced approximately $100 billion in U.S sales, with growth projected to top 32% compounded annually over the next few years. . . . In addition, the reported noted that a general trend for home-delivery service, a favorable labor environment, the advantages of being publicly traded and a disrupted industry that has become even more shattered as a result of the COVID-19 pandemic all combine to create a ‘positive outlook for Sugarmade for the rest of 2020 and into next year. At a time when so many businesses are struggling, we believe companies involved in certain areas of the cannabis marketplace, such as delivery services, are not only surviving, but thriving,’ the report concluded.”

To view the full article, visit http://cnw.fm/8jp5X

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 found 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 this year. 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

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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 – Oklahoma Could Soon Pioneer Marijuana Breathalyzer Use

In the coming months, Oklahoma may be pioneering a pilot program that will greatly influence how driving laws are enforced in regard to cannabis use. The state is currently working on the implementation of a program to conduct marijuana breathalyzer tests which will allow the police to accurately determine who’s driving while high. Last week, Oklahoma’s legislature passed legislation requiring the Department of Public Safety to dedicate $300,000 to pay for the marijuana breathalyzer test kits. The agency will be tasked with coming up with new rules and regulations for the pilot program.

One issue that has stood in the way of legalization is the fact that there is no accurate test to see how much fresh cannabis is in someone’s system, denying law enforcement the ability to weed out who’s driving while high from those who smoked days ago. At the moment, law enforcement can only test for cannabis by testing urine, blood or hair, but unfortunately, cannabis smoked days before will still be present in your system, making it difficult to determine whether or not you are driving stoned.

According to Rep Scott Fetgatter, Oklahoma has a lot of problems when it comes to medical marijuana, DUI laws and determining impairment. There are hardly any roadside tools designed to determine cannabis impairment and if the state’s pilot program is successful, it will be the first state in the country to use cannabis breathalyzer technology. “Right now, we don’t really have a lot of roadside testing options for drug screening. Most of those things are going to fall into a blood test or drug recognition expert doing an evaluation and giving an opinion,” says Joshua Smith, director of the Board of Tests for Alcohol and Drug Influence.

The breathalyzer will test a person’s breath for THC, the cannabinoid responsible creating marijuana’s high, and it will be able to determine whether the cannabis in your system was introduced just a few hours prior. According to Fetgatter, participation should be voluntary and the test results should not be used in a punitive manner.

“It’s kind of a trial program to make sure the system works,” says Rep. Ross Ford, adding that ideally, the state would be able to collect data from the program and then report the findings back to the Legislature. Sarah Stewart, a spokeswoman for the Department of Public Safety, says it could take up to a year to get the pilot program off the ground as the agency does research and comes up with rules and regulations.

Analysts believe the entire cannabis industry, including Sugarmade Inc. (OTCQB: SGMD), will be following events in Oklahoma to see how the trial goes.

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420 with CNW – Illinois Unveils $31 Million Program to Address Harms of Marijuana Prohibition

For a long time, the federal government has outlawed cannabis, and it is no question that certain communities have suffered most from its decades’ long law war on marijuana. Aside from creating new job opportunities and producing tax revenue from sales, advocates for legalizing marijuana have argued that legalizing it would be the first step in stopping this unfair persecution. Indeed, several states that have legalized cannabis within their borders have directed substantial funds towards repairing the damage the war on drugs has had on certain communities.

Illinois, for instance, has had a very lucrative legal cannabis scene, and a large percentage of the funds received from cannabis sales tax has been channeled towards good causes. On Tuesday, for instance, the state announced that $31.5 million derived from cannabis sales tax has been made available in restorative justice grants. Last year, Governor J.B Pritzker signed a legalization bill that established a Restore, Reinvest, and Renew [R3] program which was created to provide grant opportunities for ‘communities impacted by economic disinvestment, violence and the severe multilayered harm caused by the war on drugs.’ State law stipulates that 25% of tax revenue from cannabis sales goes to the R3 program.

State regulators were required to identify economically distressed areas around the state where businesses and nonprofits were eligible for the funds which would be used for community assessment, planning initiatives and service delivery. Now that they have, eligible businesses and nonprofits can now access these funds.

“The R3 program is a critical step towards repairing the harms caused by the failed war on drugs and decades of economic disinvestment. Equity is one of the administration’s core values, and we are ensuring that funding reaches organizations doing critical work in neighborhoods most impacted by the war on drugs,” says Lt. Gov. Juliana Stratton.

The tax revenue provided for the R3 program is meant to address five priorities: civil aid, economic development, reentry from the criminal justice system, youth development and violence prevention. “This program will start to close those gaps in areas most hard hit by gun violence, unemployment and criminal justice system overuse. To do so, we are looking to R3 communities for proposals of programs and strategies they identify to best address their needs and challenges,” Jason Stamps, acting director of the Illinois Criminal Justice Information Authority says.

“In developing these funding opportunities, the focus has been on equity in opportunity at the community level.” The deadline to submit applications for the grants is July 20 2020.

This announcement is likely to be received as great news by marijuana companies like Round Meadow Holdings Corp. and Sugarmade Inc. (OTCQB: SGMD) that have always felt that the era of prohibition was particularly hard on some demographics and not others.

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CannabisNewsBreaks – Sugarmade Inc.’s (SGMD) BudCars Cannabis Delivery Service Expands into LA Area

Sugarmade’s (OTCQB: SGMD) recently acquired BudCars Cannabis Delivery Service announced on April 16 that it was expanding into the Southern California marketplace (http://cnw.fm/9n3mD). An article discussing the company reads, “‘Our Sacramento locations will pass the $10 million mark for annualized sales within the next 60 to 90 days,’ Sugarmade CEO Jimmy Chan stated in a news release. ‘The growth has been so dramatic that we have had to drastically revise our expectations to the upside, which demands expansion, both in terms of staff and fleet in Sacramento, and in terms of regional expansion into Southern California. As a result, we are acquiring two distribution hub locations in the LA area with cannabis licenses included so we can hit the ground running.’ . . . In the expansion announcement, the company reported that BudCars’ primary Sacramento locations have seen tremendous growth, with revenues consistently increasing 10% week over week. While the growth has been attributed to exploding demand for contactless delivery of cannabis products due to the COVID-19 pandemic, company officials expect the upward spike to continue, even after social-distancing restrictions are loosened. SGMD forecasts its BudCars business to top $30 million in annualized revenues this year in Sacramento alone.”

To view the full article, visit http://cnw.fm/5Bq4n

About Sugarmade Inc.

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 – California Governor Delays Implementation of Proposed Marijuana Regulatory Changes

Although most states designated the cannabis industry as essential and allowed businesses to keep operating despite the lockdown, the industry as a whole has suffered a variety of setbacks due to the coronavirus pandemic. A number of campaigns to legalize marijuana have been put on hold all over the country due to social distancing measures. In California, lawmakers have been forced to postpone systemic reforms to the California regulatory agencies that oversee the state’s marijuana industry.

When he announced his annual budget plan earlier this year, California Governor Gavin Newsom revealed that he wanted to; merge the trio of regulatory agencies, the Bureau of Cannabis Control, [BCC], the Department of Food and Agriculture and the Department of Public Health into a single Department of Cannabis Control [DCC] and streamline cannabis tax collections by July 2021. The BCC has oversight over retailers, delivery services, micro businesses, distributors, testing labs, cannabis events while the Department of Public Health regulates marijuana manufactures and the Department of Food and Agriculture oversees growers.

Cannabis businesses, especially vertically integrated firms with licenses from more than one agency, had been receiving conflicting messages from state authorities, and a single regulatory agency would mitigate that. The revamped tax collection, on the other hand, would have made tax collection easier for the state. However, due to complications stemming from the coronavirus, the plan will have to be put on hold until next year. According to the newly revised budget summary, Governor Newsom’s plans won’t happen until 2021 at the earliest.

The revised budget summary states that his administration was “in the process of developing a more detailed plan for the transition from three agencies to one. However, the process was interrupted by the COVID-19 pandemic, requiring a delay in the consolidation as planned.” It adds that Gov. Newsom’s administration remains committed to simplifying and improving cannabis tax administration through a proposal for inclusion in the budget next year. According to the summary, a consolidation plan will be included in the 2021-2022 budget.

Additionally, the revised budget summary stipulates that marijuana regulators will receive $143.8 in funding, with the BCC receiving $68.2 million, the Department of Public Health receiving $20.8million and the Department of Food and Agriculture receiving $54.8 million. The money will be used to fund ongoing licensing and enforcement by the three agencies and to “shift sworn investigators from the Department of Consumer Affairs [DCA] to the Bureau of Cannabis Control,” a wing of the DCA.

It isn’t clear what participants in the industry, such as Round Meadow Holdings Corp. and Sugarmade Inc. (OTCQB: SGMD), think about the implications of this delay on the operations of cannabis businesses in California.

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420 with CNW – New Congressional Coronavirus Relief Bill Contains Marijuana Banking Access

The state-legal cannabis industry has been subject to tons of hurdles ever since marijuana was first legalized. Due to federal prohibition, institutions like banks have avoided the industry, denying them access to vital services like cashless payments. Once the coronavirus pandemic hit and the dangers of cash transactions were exposed, change had to be affected.

Now, House leadership has unveiled a coronavirus relief bill that includes provisions to protect banks that service marijuana businesses from federal retaliation. This had long been a bone of contention for advocates, stakeholders, and lawmakers even before the pandemic, and they have been pushing for cannabis reform to be included in the next coronavirus relief bill.

The Secure and Fair Enforcement (SAFE) Banking Act was passed last year, and it contained language that protected banks that serviced marijuana businesses from being penalized by the federal government. That language was incorporated in this recent draft coronavirus relief bill, granting the cannabis sector a much-needed lifeline in these trying times.

“The purpose of this section is to increase public safety by ensuring access to financial services to cannabis-related legitimate businesses and service providers and reducing the amount of cash at such businesses,” states the text of the provision.

According to a summary of the legislation, the banking section would “allow cannabis businesses, which in many states have remained open during the COVID-19 pandemic as essential services along with their service providers, to access banking services and products, as well as insurance.”

“This section,” it continues, “also requires reports to Congress in access to financial services and barriers to marketplace entry for potential minority-owned cannabis-related legitimate businesses.”

Advocates have also been asking lawmakers to include provisions in the next coronavirus relief bill that grant cannabis businesses access to relief funds through the Small Business Administration (SBA). Cannabis businesses and those that work indirectly with them such as accounting and legal firms are currently barred from accessing these funds due to federal prohibition.

Despite pleas from numerous advocates, stakeholders, and lawmakers, such provisions were not included. However, it does contain a section that could help individuals with prior convictions to become eligible for SBA’s Paycheck Protection Program (PPP).

It states that the agency’s lending service “shall include a statement that an applicant is not ineligible for assistance under this paragraph solely because of the applicant’s involvement in the criminal justice system.”

Rep Ed Blumenauer, who introduced a bill calling for SBA access to cannabis businesses, says that the inclusion of the SAFE Banking Act is recognition that cannabis businesses have been classified as essential. “Prohibiting these businesses from banking and forcing cash-only transactions in the middle of a global health crisis is irresponsible and wrong. The passage of the bipartisan SAFE Banking Act, is good not only for the industry but our communities and public safety as well.”

Analysts say sector players like Sugarmade Inc. (OTCQB: SGMD) will be hoping that this time round, the legislators see the logic making it possible for cashless transactions in the marijuana industry during this pandemic and beyond.

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CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Reports Record Increase in BudCars Sales Ahead of LA Launch, Expects Continued Dramatic Growth

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service, today announced record growth data for BudCars sales during the month of April, with sales growing 58% on a sequential monthly basis over March sales on an average daily volume basis. According to the update, data for the month of May already indicates a strong continuation of that trend, with May sales on pace to add another 16% over and above the strong breakout sales trend seen in April. “We did about $6,000 per day in sales in March and over $9,500 per day in April, representing a very robust growth trend at our Sacramento hub,” Sugarmade CEO Jimmy Chan said in the news release. “May is already off and running at better than $11,000 per day, demonstrating continued dramatic growth. And investors should also note that this $11,000 per day figure represents activity in only one area. With our LA hub set to come online at the start of summer, and with the unprecedented stay-at-home extension in that region, we believe our daily sales in the LA area could triple that figure relatively quickly.”

To view the full press release, visit http://cnw.fm/0AdLO

About Sugarmade

Sugarmade, Inc. (OTCQB: SGMD) 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 within Q1 and Q2 of Calendar Year 2020. The company views these opportunities as very 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

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420 with CNW – Why CBD Companies Must Go Digital to Survive

The coronavirus pandemic will without a doubt change consumer behavior for a long time to come. With more than 1.5 billion people worldwide under mandatory stay at home orders, there has been a major shift towards e-commerce. According to Brightfield Group, CBD companies interested in expanding their customer base and brand loyalty need to move quickly to build online relationships.

The organization has been providing real-time consumer insights and market intelligence to CBD and cannabis brands during the coronavirus crisis, and it says that once consumers get used to online shopping and digital wholesale models, they won’t be easy to woo back.

Small to mid-size CBD brands that act sooner rather than later have an opportunity to leap ahead of their less nimble competitors, says Brightfield managing director Bethany Gomez. “Tightening customer focus and marketing a strong brand with a distinct personality will separate those CBD companies who survive this pandemic from those that will hesitate or shrink from customer view.”

The organization has been working closely with its marketing insight partner Zenzi through individual client consultations as well as online webinars to develop insights related to consumer behavior during the coronavirus pandemic, Gomez says. All signs point to a huge shift in competition within the marketplace once the crisis dies down, with the number of players reducing from 3,500 to as little as 1,000.

“This is a challenging environment for doing business, but a strong opportunity for marketers. You need to get in front of your audience and make them feel connected to your brand and the value it offers.”

With billions of people stuck at home staring at phone and computer screens all day, a strong online presence would be the best way to cast your net. However, a large number of brands depend on trade shows to get word on their products out, and most of them were either canceled or postponed. Additionally, for many a brand, the plan for this year had been to open as many brick and mortar locations and let word of mouth do the rest.

“Consumers are captive now, they’re all in front of their screens, all on social media, all opening their emails. It’s really the time that they’re listening. If you have something to say, you need to say it now,” says Gomez, adding, “E-commerce is the new battleground and if you’re not in it, you’re done.”

It is widely believed that established players in the cannabis industry like Sugarmade Inc. (OTCQB: SGMD) are ramping up their digitization efforts in order to be ahead on the curve within the industry.

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CannabisNewsBreaks – Sugarmade, Inc. (SGMD) and Budcars Featured in The Stock Day Podcast to Discuss Potential of On Demand Cannabis Delivery

Sugarmade (OTCQB: SGMD), a product and branding marketing company investing in operations and technologies with disruptive potential, today announced that its CEO, Jimmy Chan, as well as the CEO of Budcars, Clinton Walker, were featured on The Stock Day Podcast hosted by Everett Jolly. The interview covered various topics, including the strategy to target California and the on demand delivery market, as well as the Sugarmade and Budcars partnership and future outlook. “We’re in the process of opening three more locations throughout 2020,” Walker said in the interview, when asked where he sees Budcars in one to two years. “We anticipate we’ll grow to ten locations within twenty-four months,” he added, noting that Budcars has the potential to cover 65% of the California market upon reaching ten locations.

To view the full press release, visit http://cnw.fm/vc4gQ

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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