Tag: SING

420 with CNW – Campaigners Urge EU to Adopt Medical Marijuana Standards Like Germany’s

According to the newly-born European Medicinal Cannabis Association (EUMCA), businesses across Europe should adopt the good practices being implemented by Germany in their medical marijuana industry.

EUMCA was established recently, and it is taking its first stride in the Brussels bubble by advocating for a medical marijuana regulatory framework that could be implemented by the EU member states.

Although medical marijuana is well developed in some of the EU member countries, only standards that cut across all the EU member states can ensure that patients across Europe access the same rules.

EUMCA said that having different laws governing the prescribing of marijuana-related medicine across the EU member countries could result in a problem when patients are traveling abroad and need to access treatment.

The secretary general of EUMCA, Sita Schubert, said that the primary goal of the association is to inform the national and EU institutions of the potential of medical marijuana treatment.

The reason why most doctors are cautious around medical marijuana is the lack of clinical trials. However, Schubert said that most often, health professionals and legislators are just not familiar with medical marijuana.

The socialist MEP, Miriam Dalli, said that investors need a robust EU regulatory framework that would assure them of stability and give suffering patients peace of mind.

According to Schubert, the German regulatory approach provides a quality and safe market for the marijuana-based products produced in the country.

The German parliament approved legislation that allowed patients easy access to marijuana products for therapeutic purposes in January, 2017.

Patients registered to receive medical cannabis treatment were 1000 before the changes in the law, but after the law was approved, the number of patients increased to 142,000 in Germany.

The National Cannabis Association in Germany, Deutscher Hanfverband (DHV), estimates that the number of patients on health insurance receiving medical marijuana treatment is approximately 50,000-60,000, and this makes Germany the third-largest market for medical marijuana products.

Several European countries such as Malta, Czech Republic, Italy, the Netherlands, and the UK have developed policies giving patients fair access to medical cannabis.

In 2018, the statutory health insurance providers in Germany reported revenue of close to €70 million ($77.5 million) for medical marijuana products. However, EUMCA argues that without a regulatory framework that cuts across the EU, some demand for medical cannabis in Europe could be unmet. The association also noted that the drug is both life-changing and life-saving.

According to the EMCDDA (EU Monitoring Centre for Drugs and Drug Addiction), patients’ interest in cannabinoids to treat several medical conditions has been on the rise in the past 20 years. These medical conditions include anxiety disorders, pain, cancer, depression, insomnia, and neurological disorders.

EUMCA warned that when the patients are denied access, they can access treatment through the black market, where no regulators are overseeing the quality and safety standards of the products. Before being distributed, medical marijuana must be produced and tested under the European GMP as well as practicing good distribution practices, such as certification for warehousing and distribution.

EUMCA is open to working with big companies (Tilray and Pinaxia) and small companies (Cannaflos) to get medical marijuana to the level of the EU.

Schubert said that marijuana companies should speak using one ethical voice. She further said that since the future of medical marijuana is set, people with the same medical marijuana ethics should join the EUMCA.

It is believed that this level of advocacy is appealing to cannabis industry players like The Green Organic Dutchman Ltd. (TSX: TGOD) (OTCQX: TGODF) and SinglePoint Inc. (OTCQB: SING) in North America who want to see uniform standards become a reality here as well.

About CNW420

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

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HempNewsBreaks – SinglePoint, Inc. (SING) Provides 2019 Recap, Outlook for 2020

SinglePoint (OTCQB: SING), a technology and investment company, this morning provided a recap of 2019 and outlook for 2020. The company exceeded $1,000,000 in revenue for Q3, making it its largest third quarter in company history. Moving forward, SING sees substantial growth in two major markets, hemp and solar, and is focused on growing within these market segments throughout the fourth quarter and into 2020. The company is launching its nicotine and tobacco free 1606 Original Hemp cigarettes at MJBIZCON taking place at the Las Vegas Convention Center December 11-13, 2019. SinglePoint expects the sale of 1606 to be a key contributor to overall company growth in 2020. “We have an exceptional strategic plan in making SinglePoint one of the biggest publicly traded companies in the smokable hemp space. We believe we offer investors and our current shareholders tremendous value given our leadership position in several explosive markets including ecommerce, Hemp and Solar. As SinglePoint continues to grow revenue and profit we continue to strive for meeting the qualifications to apply for a listed exchange,” SinglePoint CEO Greg Lambrecht stated in the news release.

To view the full press release, visit http://cnw.fm/Y0LVo

About SinglePoint Inc.

SinglePoint invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company portfolio currently includes solar renewables, Hemp and distribution tobacco products. SinglePoint is working to grow to a multi-national brand. For more information, visit the company’s website at www.SinglePoint.com.

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

About HempWireNews

HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.

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420 with CNW – New Jersey Could Have the Lowest Weed Taxes According to Voter Measure

If everything goes according to plan, New Jersey could be the state with the lowest tax rate for legal weed sales. Voters are expected to vote on a marijuana legalization measure that seeks to allow the state to subject a sales tax of 6.625% on legal weed sales.

All cities allowing the sale of legal weed would be authorized to impose a maximum of 2% transfer tax which would total up to 8.625%. This would still be the lowest tax imposed on legal marijuana sales in the U.S.

According to marijuana analysts, the low taxes would enable legal marijuana to compete with and eventually eradicate the illicit weed market. The period in which New Jersey will be able to start implementing the low rate tax is uncertain.

According to the president of the New Jersey Cannabusiness Association, Scott Rudder, voter approval for recreational weed in the 2020 elections could lead to additional details such as Excise taxes.

Rudder also said that the ballot question should be detailed so that the voters can make an informed decision.

He was of the view that the new regulations would not be implemented until the voters approve the measure, and the tax proposals for the marijuana industry may still be altered.

Rudder  also said other states might legalize marijuana and the desire to have common taxes in the Northeast states where marijuana is legal may force New Jersey to abandon its measure in favor of a collective position agreed upon with neighboring states.

New Jersey would be the only state not imposing an additional tax, such as excise tax, because all the other states that have legalized recreational marijuana impose some excise tax on legal weed sales, which amounts to about 26% when you add both sales and excise tax.

Washington has the highest percentage of tax on legal weed sales, whose average is 43%, while Michigan customers pay the lowest, at 16%.

States where weed is legal allow their cities to impose their additional taxes besides the general sales taxes imposed by the state.

The executive director of the National Organization of Marijuana Laws, Erik Altieri, said that there is a possibility that New Jersey will impose some excise tax by the time the first ounce of legal cannabis is sold. Altieri further noted that the state law would continue to evolve once marijuana is legalized.

Legalization of weed has been a topic for debate in the Legislature for the last two years and the proposed pot taxes have gone through many changes. State Senator Nicholas Scutari introduced a bill in the state Assembly which suggested for an increasing marijuana tax which would begin at 7% and rise to 25% over the next few years. The last bill proposed a $42 flat-rate fee per ounce, which equates to a 12% tax rate. This would ensure a steady source of revenue, even if the market price for marijuana drops.

Scutari said that removing the additional taxes is a sure way of fighting the black market because people would be more inclined to buy the cheap, safe, and high-quality weed from a licensed dispensary instead of purchasing from an illegal dealer.

These proposals seem good on paper, but experts say industry actors like SinglePoint Inc. (OTCQB: SING) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) have learnt that nothing is clearcut in New jersey, so they will only wait to see the final law which is cleared for implementation.

About CNW420

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

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420 with CNW – Pew Poll Finds Increased Support for Marijuana Legalization

On Thursday, Pew Research Center released the 2019 polling results on support for marijuana legalization which showed an increase with more than two-thirds of Americans backing the policy.

The survey was conducted through phone interviews from September 3-15. It involved 9,900 respondents, of whom 67 percent said that cannabis should be legal. This is 5 percent higher than the 2018 Pew survey findings on marijuana legalization support. Pew Research Center’s 2019 poll results closely reflect survey findings released last month by Gallup, which showed that 66 percent of Americans are in favor of marijuana legalization.

In their survey questions, Pew had a new question that had multiple policy options from which the respondents could choose their answer. The new question results showed that 91 percent of Americans support the legalization of either medical or adult-use marijuana. The legalization of both medical and recreational marijuana was backed by 59 percent, while 32 percent support legalization for medical cannabis only. And only 8 percent said that marijuana should stay illegal.

According to Pew, non-supporters of marijuana legalization said that the new question findings were notable. They also said that when people are presented with more policy options to choose from, the likelihood of supporting the broad legalization of cannabis would be lessened. But, the fact is that the majority of Americans are in support of the full legalization of marijuana.

The survey confirms that marijuana reforms require the support of both the Democrats and Republicans, with 55 percent of Republicans and 78 percent of Democrats supporting the legalization of weed.

Last year’s poll results showed that only 45 percent and 69 percent of Republicans and Democrats were in favor of legalization, respectively. This year’s poll pools responses from individuals as well as the members of the parties according to which party they are leaning towards. However, the previous polls separated the responses according to parties and reported their support or lack of separately.

The Executive Director of NORML, Erik Altieri, said that over the past three decades, the percentage of the public supporting recreational marijuana has been on the rise, and there is no sign that it will subside. He further noted that in the last few years, public support has been growing stronger as more and more states develop their marijuana reforms. He also said that although the country is divided politically, at least the majority of the Americans agree on the issue of cannabis legalization.

According to the 2019 survey, people of all races, men, and women are in support of ending marijuana prohibition.

Support for marijuana legalization is expected to continue rising. The “Silent Generation” is the only age group where the majority are not in favor of legalization. Sixty-three percent of Baby Boomers and 65 percent of Generation X support legalization. And, an overwhelming number of Millennials (76 percent) are in favor of legalization.

The partisan gap support among the millennials is small because 78 percent of millennial Democrats and 71 percent of millennial Republicans are in favor of the legalization of cannabis.

The percentage of adults who are not in favor of legalizing Cannabis has reduced to 32 percent in 2019 compared to 52 percent in 2010, said Pew.

According to the released report, the increased support of marijuana legalization is because more states have legalized medical and recreational cannabis. Pew also noted that apart from the former Vice President Joe Biden, the other Democratic presidential candidates are in favor of legalizing marijuana.

Industry observers say that this news of the increased support for marijuana legalization is unlike to excite marijuana industry players like SinglePoint Inc. (OTCQB: SING) and The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) that have so far failed to see this overwhelming public support resulting in any federal marijuana law reforms.

About CNW420

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

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CannabisNewsBreaks – SinglePoint, Inc. (SING) CEO Discusses Substantially Increased Revenues and Profits on MoneyTV with Donald Baillargeon

Technology and investment company SinglePoint (OTCQB: SING) was featured on this week’s episode of MoneyTV with Donald Baillargeon. The program is syndicated internationally and covers money-focused topics, featuring various companies and in-depth interviews with CEOs and executives that offer insights into operations and future outlooks. MoneyTV is viewed in over 200 million households in more than 75 countries. This week’s program featured SinglePoint CEO Greg Lambrecht as he discussed substantially increased revenues and profits. “Our revenue is up 176%,” Lambrecht said in the show, comparing the substantial growth to the same period last year. “The gross profit is up 50% compared to 20% from Q3 2018.”

To view the full press release, visit http://cnw.fm/w7yQ4

About SinglePoint Inc.

SinglePoint is a technology and acquisition company with a focus on acquiring companies that will benefit from management, capital and technology integration. The portfolio includes mobile payments, industrial hemp and renewable energy solutions. Through acquisitions into horizontal markets, the company is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, SinglePoint provides products and services to the cannabis industry. For more information, visit the company’s website at www.SinglePoint.com.

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

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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HempNewsBreaks – SinglePoint Inc. (SING) Reports Record Q3 2019 Results, Expects Significant Growth in Solar and Hemp Businesses

Leading technology and acquisition company SinglePoint (OTCQB: SING) today announced its financial results for the third quarter ended September 30, 2019. According to the update, the company achieved revenues of $1,050,374 for the three months ended September 30, 2019, a 176% increase over the same period in 2018. Per the update, the initial response to the company’s Pure American Hemp Cigarette has been overwhelming, while Direct Solar, SinglePoint’s most recent acquisition, continues to exceed revenue targets and has been pivotal to the company’s financial growth. “This has been a great quarter for SinglePoint, we are very excited to see the growth of the company,” SING CEO Greg Lambrecht said in the news release. “We are establishing solid financials and we anticipate a big fourth quarter. Everything is firing on all cylinders and we continue to hit our numbers. We believe SinglePoint’s revenues will continue to grow as our subsidiary Direct Solar expands into new markets.”

To view the full press release, visit http://cnw.fm/fW1Qn

About SinglePoint Inc.

SinglePoint is a technology and acquisition company with a focus on acquiring companies that will benefit from management, capital and technology integration. The portfolio includes mobile payments, industrial hemp and renewable energy solutions. Through acquisitions into horizontal markets, the company is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, SinglePoint provides products and services to the cannabis industry. For more information, visit the company’s website at www.SinglePoint.com.

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

About HempWireNews

HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.

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CannabisNewsBreaks – SinglePoint, Inc. (SING) CEO Discusses Plans for Las Vegas MJ Show on MoneyTV with Donald Baillargeon

Technology and investment company SinglePoint (OTCQB: SING) was featured on this week’s episode of MoneyTV with Donald Baillargeon. The internationally-syndicated program covers money-focused topics, featuring various companies and in-depth interviews with CEOs and executives that offer insights into operations and future outlooks. MoneyTV is viewed in over 200 million households in more than 75 countries. This week’s program featured SinglePoint CEO Greg Lambrecht as he discussed the company’s plans for the upcoming MJBizCon Show in Las Vegas.

To view the full press release, visit http://cnw.fm/6SwWj

About SinglePoint, Inc.

SinglePoint, Inc. is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry. For more information, visit the company’s website at www.SinglePoint.com.

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

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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420 with CNW – Marijuana Legalization Revived in New Jersey Legislature

Good ideas are cast aside, and bad ideas become law in lame-duck legislative sessions. The New Jersey Senate President Steve Sweeney announced that the Senate would attempt to legalize the possession and use of recreational marijuana. This will be a test of whether this good idea will go to waste or be brought to life.

Despite the overwhelming support for the decriminalization of the possession of small amounts of marijuana, legalization supporters have been unable to get a majority vote in the legislature. The legalization issue was scheduled for discussion in March, but it has been dormant from the time a headcount revealed that it would be short with a few votes and so voting was abruptly called off at the time.

Since then, it is unlikely that the quest for the required majority has produced any fruit because the opposers of the legislation were joined by others who were objecting to other marijuana provisions such as oversight, licensing, sales outlet locations, tax rate, and revenue allocation.

He wanted the legislation to address some of these issues, but the opposition objected to the proposed changes. The members of the clergy oppose the legalization of marijuana, terming it as a means of profiting the investors at the expense of the weak while inflicting harm to the communities that are greatly affected by the war against drugs.

The leader of opposition in the Senate, Newark Senator Ron Rice, said that the people who will benefit most from legalization are outside investors. He also predicted that the legalization of recreational marijuana would destroy urban communities’ quality of life while severely damaging the health and welfare of the youth.

The supporters and the opposers of marijuana legalization will present evidence to support their positions during the fresh debates. They will present evidence that shows if marijuana contributes or does not contribute to road accidents, if the functioning of the brain is impaired or not or if using marijuana for prolonged periods affects or does not affect cognition.

Urban mayors whose cities have been affected by the war against drugs made compelling cases insisting that their cities should get the larger share of tax revenue due to the suffering inflicted on their communities. They also demand to be given priority in sales licenses and retail outlets.  The legislative supporters are faced with the challenge of giving in to their demands because it is unlikely they will change or lessen these requirements.

If the Senate does not approve the legislation, Sweeney’s fall back plan is placing the bill in the 2020 ballot box for voters. The ballot would pass the bill due to the increased turnout since it is a presidential election year.

During his campaign the now Governor Murphy said that he would ensure marijuana would be legalized within the first 100 days of his term, but now it is two years since the election and weed is still illegal.

The most challenging issue Governor Murphy has handled during his term is marijuana legalization, but he is still positive that the legislators will come around and approve the proposal. One would be justified to believe that marijuana companies like The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) and SinglePoint Inc. (OTCQB: SING) are a bit skeptical about the chances that New Jersey will legalize recreational marijuana legislatively this year.

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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HempNewsBreaks – SinglePoint, Inc. (SING) CEO Discusses Hemp Cigarettes on MoneyTV with Donald Baillargeon

Technology and investment company SinglePoint (OTCQB: SING) was featured on this week’s episode of MoneyTV with Donald Baillargeon. The program is syndicated internationally and covers money-focused topics, featuring various companies and in-depth interviews with CEOs and executives that offer insights into operations and future outlooks. MoneyTV is viewed in over 200 million households in more than 75 countries. This week’s program featured SinglePoint CEO Greg Lambrecht as he discussed the company’s recent endeavor into the hemp cigarette space. “This hemp cigarette business is really going to be huge,” SinglePoint CEO Greg Lambrecht stated in the interview.

To view the full interview, visit http://cnw.fm/9xA9N

To view the full press release, visit http://cnw.fm/YK2qU

About SinglePoint Inc.

SinglePoint is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry. For more information, visit the company’s website at www.SinglePoint.com.

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

About HempWireNews

HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.

To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.HempWireNews.com

Please see full terms of use and disclaimers on the HempWireNews website applicable to all content provided by HNW, wherever published or re-published: https://www.HempWireNews.com/Disclaimer

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420 with CNW – How Marijuana Companies Can Benefit from Working with Third-Party Supply Chain Players

The marijuana industry is laden with many complications, among them the ever-changing marijuana regulations. This has complicated the process of getting the legalized weed in the market. Besides, only companies with a robust supply chain system will remain competitive and maintain their dominant position in the booming marijuana market. The cannabis sector is also experiencing some problems from the startup supply chains, whereby companies that are vertically integrating the seed-to-sale process wholly eventually become a one-stop-weed-shop. However, the quality and supply of marijuana are compromised due to a lack of proper infrastructure to implement the business strategy.

Discussed below are five reasons why companies should partner with third-party supply chain management companies.

  1. Maintains Consistency

Consistency is what creates a brand. And without a brand, a company cannot win over or maintain a market share.

Cannabis companies should manage every aspect of their supply chain. To achieve consistency, the cannabis company should work with a 3rd party entity to monitor marijuana cultivation, growth, harvesting, extraction, manufacturing, packaging, and distribution of all its products. Through this, the company is informed of the kind of products their clients are going to get.

  1. Rise Above Other Companies with Ease

With the help of a robust supply chain management company, a marijuana company can improve its operations while structuring costs. The supply chain management company helps marijuana companies with critical elements that are vital for the rapid growth of the company. These essential components include efficiency in its operations, negotiation skills, and expertise in logistics.

By hiring third-party supply management, the cannabis company frees up most of its resources, which makes it possible for it to invest in machinery and new technology.

  1. Implements Strict Quality Control Measures

The marijuana industry has been faced with negative perceptions for several decades now, and reinventing and educating people about the benefits of marijuana is not a small task. Lack of federal laws governing marijuana means there are no measures for quality control hence the presence of harmful and illicit marijuana being sold in the market.

Partnering with a third-party supply chain company ensures that the marijuana company can control the quality of its products through a distinct standard operating technique that includes streamlined processes and automation. This helps marijuana businesses establish a clear path out of the stigma linked to pot.

  1. The Third-Party Supply Management Teams are Highly Experienced

The legal marijuana sector is still new and the marijuana companies are still learning how to manage their supply chain department as well as the amount of budget to apportion to new talent.

Partnering with a third-party management company gives weed companies access to a team of experienced professionals capable of providing them with quality services.

  1. Easily Complies with the Regulations

It can be quite a challenge for new marijuana businesses to comply with the constant changes in the marijuana industry regulations. New marijuana companies should therefore make a point of hiring a third-party supply chain manager to help in maintaining the company’s compliance mechanisms. The third-party company is also responsible for ensuring that the company products adhere to the federal legalization testing by the FDA and USDA.

It is believed that established marijuana companies like Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) and SinglePoint Inc. (OTCQB: SING) have mastered all the supply chain issues plaguing startups and that is why you will never hear them entangled in compliance problems with regulators.

About CNW420

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

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