Tag: TRUL.CN

420 with CNW — MasterCard, Bank of America, NRA Lobby in Support of Marijuana Banking

The Bank of America, MasterCard and the National Rifle Association are among a group of institutions that have disclosed lobbying activities related to legislation that would grant the cannabis industry access to banking services. Despite generating billions of dollars in sales, America’s state-legal cannabis industry has had no access to financial services for most of its existence.

Cannabis businesses cannot access financial aid, and they are forced to operate on a cash-only basis, making them prime targets for criminals looking for liquid assets to steal.

After lawmakers failed to advance cannabis banking past the U.S. Senate several times, an amended version of the bill titled the Secure and Fair Enforcement Regulation (SAFER) Banking Act has gained bipartisan support and has a high chance of reaching President Joe Biden’s desk.

The three institutions recently included the SAFER Banking Act in their lobbying disclosure for Q3 2023. This measure would finally allow financial institutions such as banks to serve state-legal cannabis businesses without fear of reprisal from federal authorities. The measure was recently subject to a historic vote at the Senate Banking Committee, representing the first time the U.S. Senate addressed cannabis banking legislation. Although the bill’s previous iteration passed the House multiple times, it failed in the Senate each time.

While the Bank of America has disclosed lobbying activities for both the SAFE Banking Act and the SAFER Banking Act, which recently received the Senate’s approval, the National Rifle Association (NRA) has only disclosed lobbying activities related to the SAFER Banking Act. Since neither institution has discussed its position on the legislation, it still isn’t clear if they intend to lobby against or in favor of cannabis banking legislation.

Even so, we can use their past positions on the controversial drug to surmise whether they will lobby for or against expanding the marijuana industry’s access to financial services.

The Bank of America has shown interest in the cannabis industry in recent years, with Bank of America Merrill Lynch initiating equity research coverage for Canadian cannabis companies in 2019.

While the National Rifle Association hasn’t expressed an official stance on cannabis, former NRA president David Keene has noted that federal restrictions that criminalize Americans for medical marijuana use are causing major issues. The former president said in a 2018 op-ed that the dissonance between federal and state cannabis laws was creating significant problems for gun owners across the country.

MasterCard is actively lobbying in support of the SAFER Banking Act and lobbied for cannabis banking in 2019 and 2020.

These efforts are a welcome development to marijuana enterprises such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) that are invested in seeing marijuana policies reformed not just at state level but preferably federally.

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 — Former White House Drug Chiefs, DEA Heads Warn that Rescheduling Cannabis Would ‘Supersize’ Marijuana Industry

Five former White House drug chiefs and six former heads of the U.S. Drug Enforcement Administration (DEA) have warned the Biden administration that rescheduling marijuana would “supersize” the country’s cannabis industry. The former White House drug czars and DEA heads sent current DEA administrator Anne Milgram and Attorney General Merrick Garland a letter stating their opposition to the U.S. Department of Health and Human Services (HHS) recommendation that the DEA reschedule marijuana.

The HHS made the recommendation in August, nearly 11 months after President Joe Biden ordered the health agency to begin a review of marijuana’s federal status. Federal law currently classifies cannabis as a Schedule I drug with an incredibly high potential for abuse and no accepted medical use, similar to drugs such as heroin and cocaine.

Given that a multitude of studies have proven that cannabis does have medical applications and dozens of states have legalized the plant for medical use, President Biden and the HHS believed a review of cannabis was in order. However, a letter sent to the DEA administrator and the U.S. attorney general noted that moving cannabis from Schedule I to Schedule III would have the potential to supersize America’s cannabis industry through the provision of tax relief and normalize the market even further.

Furthermore, the letter noted that rescheduling cannabis and limiting criminal penalties for trafficking would eliminate a crucial tool used by federal agents to prosecute drug cartels.

That claim is contested by legal experts who point out that marijuana trafficking penalties aren’t tied to the controversial plant’s federal status under the U.S. Controlled Substances Act (CSA). Cannabis trafficking penalties are typically based on weight, resulting in stiffer penalties for individuals who traffic large amounts of cannabis. As such, federal drug policy attorneys such as Shane Pennington say it is unlikely that rescheduling cannabis would also reduce penalties for trafficking offenses.

Some scholars say rescheduling cannabis at the federal level would have an impact on criminal penalties under the Controlled Substances Act. If the DEA does reschedule cannabis, prosecutors and judges would have the discretion to impose lower penalties for cannabis-related offenses like trafficking.

The letter to the DEA administrator and attorney general also says that rescheduling the drug would provide an opportunity for businesses to avoid IRS Section 280E and deduct business expenses, resulting in a supersized industry.

All that the cannabis industry, including major enterprises such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), hope is that federal marijuana policy is revised to let the industry operate as freely as actors in other sectors.

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 — Florida Supreme Court Sets Date to Decide Cannabis Ballot Measure’s Fate

The Florida Supreme Court has set dates for oral arguments in a case that will determine if a state cannabis legalization measure appears on the 2024 ballot. Both the Smart & Safe Florida campaign, which sponsored the cannabis legalization proposal, and the state attorney general have spent the past few months sending briefs to Florida’s Supreme Court.

Florida Attorney General Ashley Moody filed a challenge against the proposal and called for its invalidation on the grounds that it is misleading. She argued in her challenge that the measure was ‘”effectively misleading” because it doesn’t explicitly state that marijuana will still be illegal under federal law even if Florida amends its law to legalize the plant.

While the Smart & Safe Florida campaign noted that it was incredulous to think any American was unaware of marijuana’s controlled status at the federal level, the attorney general’s office argued that most Americans are too ignorant of state and federal policies to know. Furthermore, Moody’s office said the proposal was written in a way that would provide an unfair advantage to marijuana company Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), the campaign’s primary financial backer.

The challenge claimed that the proposal’s ballot summary was misleading in subtle but influential ways, stating that Truelieve was inviting millions of Florida residents to join in its “reckless violation of federal criminal law” in its pursuit of larger markets and bigger profits.

Moody said the measure was also “duping voters” by saying it would increase cannabis retailers in the state when it would only authorize the expansion of the state’s cannabis retailer base, no doubt hoping to appeal to Floridians who were interested in accessible medical marijuana treatment centers.

A brief from the Drug Free America Foundation noted that the measure was in positive conflict with federal law and violated the U.S. Constitution’s supremacy clause, which states that federal law generally supersedes state laws and constitutions. Furthermore, the Florida Chamber of Commerce submitted a brief to the state Supreme Court noting that the cannabis legalization proposal was in constitutional violation of the single-subject rule for ballot proposals. The Chamber of Commerce also supported Moody’s argument that the ballot’s title and summary language were misleading.

On the other hand, Smart & Safe Florida and cannabis reform supporters argue that Floridians should have the chance to decide on cannabis reform after they submitted close to a million certified signatures.

The Supreme Court has scheduled the next hearing for key arguments and responses from the attorney general and Smart and Safe Florida to Nov. 8, 2023.

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 — Concerns Arise as Few Blacks Enroll for UK Study on Marijuana’s Effects on the Brain

A campaign behind a UK-based study to research the effects of marijuana use on the brain is struggling to recruit Black and Asian volunteers who smoke cannabis regularly. The lack of adequate representation in the volunteer pool has raised concerns that the study’s findings would not be truly representative of the United Kingdom’s population.

With £2.5m ($3.04 million) in funding, the King’s College London study seeks to understand how cannabis use can lead to psychosis and paranoia in some users but have no such effects in other users. Findings from the upcoming study could open the door to expanded therapeutic use of cannabis and increase the safety of illicit recreational cannabis use.

But while White people have volunteered for the study in relatively large numbers, few Asian and Black cannabis users have volunteered for the study. After 18 months of working to build a 3,000-strong pool of marijuana users from the London Area, the “Cannabis and Me” campaign still needs to recruit hundreds more Asian, Caribbean and Black people.

Understandably, these two communities have met attempts to collect data about illicit drug use with suspicion and distrust. A 2021 analysis by the Liberal Democrats found that Black people in the UK are around 12 times more likely than White people to be arrested and prosecuted for marijuana possession.

Former police chief and the Liberal Democrat’s House of Lords home affairs spokesperson Brian Paddick said at the time that law enforcement’s focus on marijuana possession was undermining the Black community’s confidence and trust in the police. Asian and Black people also have an 11.8 cannabis possession conviction rate compared to White people, at 2.4 times even though they have lower self-reported rates of cannabis use.

Furthermore, Black people in the UK cumulatively make up a quarter of all cannabis possession convictions even though they make up less than 4% of the country’s population.

The two communities’ unwillingness to participate in the cannabis study points to a deeper issue in research science: Black people and other ethnic minorities have little representation in clinical research. This underrepresentation was especially present in clinical trials for coronavirus vaccines even though the pandemic had a significantly larger impact on minorities such as Asians and Black people.

Marketing consultant and head of the campaign’s recruitment drive William Gadsby-Smith says that for people who have had their trust in the government and law enforcement eroded by years of corrupt and racist police, saying no to participating in such initiatives is extremely easy.

An advocacy group based in Brixton that tackles racism in the UK’s legal system called Unjust refused to help the campaign recruit participants from minority groups. According to Unjust’s founding director Katrina French, the study’s findings on cannabis and psychosis could potentially lead lawmakers to expand cannabis criminalization among Black males while ignoring the effects of cannabis prohibition.

The fact that licensed companies such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) are permitted to operate in certain jurisdictions in the world doesn’t mean that all forms of prohibitionist policies were rolled back. The struggle for an end to prohibition is an ongoing process, and the reluctance of Blacks to enroll for the study above is testament that more still needs to be done.

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 SMS alerts from CNW, text CANNABIS to 844-397-5787 (U.S. Mobile Phones Only)

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420 with CNW — Major Hitch: DeSantis Dislikes Cannabis, But Major Funder Is Working for End of Prohibition

Florida governor Ron DeSantis has been vocal about his disapproval of recreational marijuana, calling it a significant issue and expressing his concerns about its impact. However, an interesting twist arises as the driving force behind DeSantis’ presidential campaign, led by GOP strategist Jeff Roe through Vanguard Field Strategies and Axiom Strategies, is actively supporting a campaign to legalize recreational marijuana in Florida.

Axiom and Vanguard have received nearly $29 million from Smart and Safe Florida, an organization advocating for a 2024 ballot initiative to legalize adult-use cannabis. Ironically, the companies, despite their involvement in advancing marijuana legalization in Florida, are simultaneously working to secure DeSantis’ presidential election, albeit on an antimarijuana platform. They have received more than $25 million from the pro-DeSantis super PAC, Never Back Down, which plays a pivotal role in the DeSantis campaign, handling various campaign activities and events as well as the governor’s transportation.

This poses a challenge for DeSantis, as legal restrictions prevent coordination between the campaign and super PAC, forcing him to rely on a group whose goals sometimes clash with his own. Recent tensions have emerged between Never Back Down and the DeSantis campaign, particularly concerning strategy and timing in the primary race.

In one incident, DeSantis’ allies were frustrated when the super PAC posted a strategy memo on Axiom’s website, setting expectations for the governor’s debate performance. Additionally, a leaked recording from a Never Back Down donor briefing suggested a tight timeline for DeSantis to surpass former President Donald Trump, which some Republicans found arbitrary.

The conflict over marijuana use further complicates DeSantis’ image as being tough on recreational drugs, potentially putting him at odds with his constituents. He has expressed concerns about the potency of marijuana and its possible contamination with substances such as fentanyl.

Axiom’s diverse client portfolio has occasionally led to situations where the company works for clients with conflicting ideologies. Its involvement with the procannabis initiative began in 2022, months before it joined forces with Never Back Down.

The initiative to legalize recreational cannabis is funded mainly by Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a major player in the cannabis sector, and could be a major issue for Florida Democrats to revive their status in the state. Smart and Safe Florida has gathered enough signatures to potentially qualify for the ballot.

However, it’s uncertain whether the initiative will make it to the ballot, as Attorney General Ashley Moody, a DeSantis ally, has urged the state Supreme Court to strike it down, claiming it misleads voters.

Moreover, DeSantis has remained steadfast in his opposition to recreational use, signing legislation to tighten advertising restrictions and expressing concerns about its impact on the workforce and prosperity.

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 SMS alerts from CNW, text CANNABIS to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

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Trulieve Cannabis (CSE: TRUL) (OTCQX: TCNNF) Featured in Virtual Coverage of Benzinga’s Cannabis Capital Conference

Trulieve Cannabis (CSE: TRUL) (OTCQX: TCNNF)is a leading medical cannabis company in the state of Florida, capturing a 51% share of Florida’s cannabis market. Operating a vertically-integrated “seed-to-sale” model, Trulieve controls a network of 55 stores in Florida in addition to 57 stores nationwide through which it markets and distributes its wide range of more than 500 individual products. Over the past year, the company has taken steps to broaden its geographical footprint, announcing the purchases of licenses in California and Massachusetts while also opening a cannabis dispensary in the state of Connecticut.

Kim Rivers, CEO of Trulieve, will be delivering a keynote address during the Benzinga Cannabis Capital Conference.

To learn more about Trulieve Cannabis, visit https://www.trulieve.com/

For registration information and further details on Benzinga’s Cannabis Capital Conference, visit https://www.benzinga.com/events/cannabis/detroit/

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The InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company, covers dozens of investor conferences and online events as part of its ongoing service to the investment community. In addition to enabling proficient evaluation of each company via one-click access to market research tools and helpful website links, IBN utilizes social media and syndicated articles to maximize the visibility of each featured session.

For more than a decade, IBN has provided real-time coverage for numerous global events and conferences through its various brands, social media accounts and investment newsletters. To further expand visibility of participating companies at these events, and to ensure another successful year for its many event collaborations in 2020, IBN’s syndication partners have extended digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

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Solid Profits Show Strength of Growing Cannabis Space

CannabisNewsWire Editorial Coverage: The cannabis markets have already produced some amazing financial results, but all indications are the industry is only at the beginning of an impressive ascent.

Quarter-over-quarter sales growth is one of the indicators used to indicate upside potential. With that in mind, Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) (WLDFF Profile) revenues have increased 11 consecutive quarters, quarter on quarter, ever since the company started selling its hemp-based CBD products. Similar quarterly sales spikes and strategic acquisitions foreshadowed dramatic price increases in some of the largest names in the cannabis universe. Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) more than tripled its revenues from one year ago, both on a year-over-year and quarter-over-quarter basis, and Scotts Miracle-Gro Company (NYSE: SMG) announced company-wide sales increased 17% in its fiscal second quarter. Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF) grew its first-quarter 2019 revenues by 192% year-over-year to $44.5 million while Acreage Holdings Inc.’s (CSE: ACRG) (OTCQX: ACRGF) first-quarter 2019 performance showed revenues up 487% to $12.9 million.

  • Cannabis run is far from over, new winners emerging
  • Branding, marketing and retail reach signals of success
  • Year-over-year and sequential growth helps identify future potential

To view an infographic of this editorial, click here.

Good Times Have Just Begun

Legal cannabis is a recent worldwide phenomenon, and the emerging market seems to have almost unlimited potential. The global legal marijuana market, valued at just $9.3 billion in 2016, is expected to blow past $146 billion within the next six years.

According to a United Nations report, cannabis is the most widely consumed drug on the planet, with approximately 270 million global consumers using cannabis, equivalent to about 4% of the world’s population, barely a dent in market penetration. As marijuana makes its way into the mainstream, usage among all age groups seems certain to increase. However, among the most coveted 18-to-34-year-old demographic, the acceptance appears to be increasingly widespread.

Millennials are about three times and Gen Z about four times more likely to use cannabis than aging Boomers. Seeing the numbers, savvy cannabis companies are moving forward full speed in product and brand development to capture this coveted demographic and market share, now and for decades to come. As public perceptions change and legalization increases, the number of users is certain to skyrocket in an essentially untapped market. A global transition is already underway. Growth trajectory is virtually vertical, presenting a once-in-a-generation investment opportunity.

Retail Reach

Founded in 2012 as a private company, Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) went public in 2014 and has seen impressive growth since day one. Wildflower is an integrated health-and-wellness company creating distinct brands that incorporate the synergistic effects of plants and their extracts. The company’s latest quarterly sales set records, up 78% over the previous quarter, validating corporate strategy, the popularity of its products and the continued expansion of market share. Intent on boosting revenue and earnings even further, Wildflower is about to finalize the acquisition of a preeminent cannabis retailer in Vancouver that also owns multiple cannabis licenses.

Wildflower’s latest press release is further evidence of the company’s rapid growth and global reach. The company reported third-quarter sales were up by 78% over the second quarter, the 11th consecutive quarter of revenue growth, since Wildflower Brands began selling products. On top of these stellar results the company is further expanding its retail footprint and product distribution with the accretive acquisition of Vancouver-based City Cannabis Corp.

City Cannabis is a premier cannabis retailer holding two of the three City of Vancouver licenses to sell cannabis and is the only company with multiple licenses in British Columbia. With margins of 50%, City Cannabis had revenues of $1.8 million for the reporting period that began with the opening of its two stores in early January. The combined quarterly revenues of Wildflower Brands and City Cannabis equates to an impressive $4.3 million. Wildflower expects to close on the City Cannabis deal before the end of June, and the acquisition will immediately be accretive to Wildflower’s earnings upon closing.

Bringing City Cannabis and Wildflower together will result in revenue operations in three U.S. states and two Canadian provinces with a combined North American target market of more than 75 million people. The positive net income generated by City Cannabis comes from just two operating properties, even though the company holds an additional seven leases at various stages of permitting approvals.

Commenting on the financials, Wildflower CEO William MacLean stated, “We are pleased with the financial results of both Wildflower and City Cannabis. Sales through every Wildflower distribution channel are up, and sales at City’s licensed retail outlets continue to grow month over month. The positive net income is particularly impressive with City Cannabis carrying a total of nine leases, which are at various stages of the permitting process.”

Grow, Grow, Grow

Already a solid presence in California, Wildflower owns 14 cannabis licenses for recreational and medical cannabis cultivation, manufacturing, retail distribution and delivery. Wildflower’s expansion into Canada with the acquisition of City Cannabis strengthens the company’s global growth strategy, which includes strategic distribution deals already in place in the European Union and South Africa. In addition to capturing revenues from retail operations, the City acquisition gives Wildflower another channel to market its enormously popular products and launch into the over-the-counter market with its CBD formulations and accessories.

Wildflower continues to capture ever-greater market share with innovation, retail expansion and a growing family of popular brands. The company’s strategic partnerships, acquisitions and organic growth are all bolstered by its marketing genius to lock in more loyal consumers. Grabbing national and celebrity attention, Wildflower used ingenious product placement during the 2019 Oscars by including its CBD+ Healing Stick in each of the gift bags of the stars.

The company has also employed an innovative pop-up store approach in SoHo, New York, to introduce Wildflower Wellness products. Wildflower identified a compatible high-profile retail venue and struck a deal with the outlet, then marketed its products in the upscale establishment for a limited time period, raising market uptake and visibility.

Big Names

In addition to fourth-quarter growth, Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) reported increased revenue generation from two states to five states by operationalizing both consumer packaged goods and retail business units, including strong branded products distribution and the opening of seven new Rise™ stores nationwide. “In just six months following our RTO in June and in the beginning of 2019, we have expanded the infrastructure for our consumer products and retail businesses to now include 13 production facilities and the ability to open 88 retail locations across 12 states including pending acquisitions,” said GTI founder and COE Ben Kovler. “At the same time, we have built an incredible team that is over 500 strong to support our strategy to distribute brands at scale. With the growth of our branded product distribution, new store openings and adult-use markets coming on line, we are very pleased to have more than tripled our revenues from one year ago both year-over-year and quarter-over-quarter.”

Scotts Miracle-Gro Company (NYSE: SMG) earns its spot as a marijuana stock thanks to the company’s Hawthorne Gardening subsidiary, which ranks as the top supplier of hydroponic gardening products to the U.S. cannabis industry. In Scotts’ fiscal 2019 first quarter, this business contributed 47% of the company’s total revenue. SMG notes that each state’s cannabis industry and regulatory system are still in the process of maturing and says that “our experience growing an expansive, thriving business enterprise, and the company’s history of collaborating with government entities and other stakeholders to address difficult regulatory issues can provide invaluable insight and expertise to officials grappling with the challenges inherent in building comprehensive regulation for the cannabis industry. We are committed to working with regulatory bodies at all levels of government to help achieve these goals.”

Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF), a vertically integrated “seed-to-sale” company and the first and largest fully licensed medical cannabis company in the State of Florida, achieved its goal of reaching 30 stores by end of Q2 with 28 Trulieve dispensary locations operating in Florida, one in California, and one added through its Connecticut acquisition. As noted in announcing its first-quarter results, Trulieve estimates that its expansion into Massachusetts, along with its continued growth in Florida, Connecticut and California, will push 2020 revenues in the range of $380 million-to $400 million, generating $140 million-$160 million in adjusted EBITDA. “Our first quarter results reflect our ability to deliver on our strategic initiatives, translating into continued strong financial performance,” said CEO Kim Rivers. “In addition to delivering on strong financial results we also achieved many significant milestones in the first quarter of the year. Growth continued in Florida with the opening of four new dispensaries, completing the first sale of smokable flower in Florida, and settling with the Florida Department of Health, allowing us an additional 14 stores above the state cap…”

Acreage Holdings Inc. (CSE: ACRG) (OTCQX: ACRGF) is gaining ground as it works toward increasing its national footprint and expanding in the western United States. Despite delayed dispensary openings caused by local regulators in both Massachusetts and Ohio, the company grew its Q1 revenues by 487%. The company is also on the fringe of an acquisition by Canopy Growth (TSX: WEED) (NYSE: CGC), a move Acreage founder, CEO and Chairman Kevin Murphy said “will provide us the ability to rapidly accelerate our growth plan as the transaction makes us the most attractive partner in U.S. cannabis.” Shareholders from both companies are voting on Canopy Growth’s potential acquisition of Acreage expected to “create greater shareholder value than as competitors in the U.S.”

Skepticism about the cannabis has disappeared; there’s little question about either the viability or the profitability of the newly respected cannabis sector. Significant money has already been made in the nascent industry, and it appears that a plethora of new winners will be created in the burgeoning sector.

For more information on Wildflower Brands, visit Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF)

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The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

Searching for the Next Super Nova

CannabisNewsWire Editorial Coverage: Skepticism has been squashed and all apprehension eliminated. There’s no longer any question about either the viability or the profitability of the newly respected cannabis sector. Huge money has already been made in the nascent industry, and the only real question left is: where’s the next super nova?

Quarter-over-quarter sales growth is one of the indicators used to target explosive upside potential. Similar growth patterns were exhibited by many of the cannabis behemoths prior to parabolic price increases. In what may be an equally telling indicator, Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) (WLDFF Profile) revenues have now increased 11 consecutive quarters, quarter on quarter, ever since the company started selling its hemp-based CBD products. Similar quarterly sales spikes and strategic acquisitions foreshadowed dramatic price increases in some of the largest names in the cannabis universe. Last October Medmen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) soared 60% in one week when the company announced a deal to buy PharmCann. Florida-based Trulieve Cannabis Corp. (OTC: TCNNF) (CSE: TRUL) went public last September through a reverse merger in Canada and soared 200% after a strong 2018 Q2. Already up big on Canadian exchanges, Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) became the first pure-play marijuana stock to list on NASDAQ around $7 and just bounced off $23 a share. Last year, Tilray Inc. (NASDAQ: TLRY) became the first cannabis company to IPO on the NASDAQ at $17 per share and by September skyrocketed to $300. Despite price surges and fluctuations in the big cannabis names, there’s bound to be more money made in the sector; the run is far from over.

  • Cannabis run is far from over, new winners emerging
  • Branding, marketing and retail reach signals of success
  • Quarter-over-quarter revenue increase helps identify future potential

To view an infographic of this editorial, click here.

Good Times Have Just Begun

Legal cannabis is a recent global phenomenon, and the emergent market appears to be nowhere near reaching its potential. The worldwide legal marijuana market, valued at just $9.3 billion in 2016, is expected to blow past $146 billion within the next six years.

According to a United Nations report, cannabis is the most widely consumed drug on the planet. Approximately 270 million global consumers use cannabis, equivalent to about 4% of the world’s population and a mere pittance in market penetration. As marijuana muscles into the mainstream, usage among all age groups is on the upswing. However, among the most coveted 18-to-34-year-old demographic, there’s an explosion of acceptance as they mature in a world where cannabis is common.

Millennials are about three times and Gen Z about four times more likely to use cannabis than aging Boomers. Forward-leaning cannabis companies are full throttle in product and brand development to corral this coveted demographic and capture market share, now and for decades to come. As public perceptions change and legalization expands, the number of users is certain to skyrocket in an essentially untapped market. A global transition is underway, and the good times for cannabis have just begun. Growth trajectory is virtually vertical, presenting a once-in-a-generation investment opportunity.

Retail Reach

Founded in 2012 as a private company, Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) went public in 2014 and has been on a tear ever since. Wildflower is an integrated health-and-wellness company creating distinct brands that incorporate the synergistic effects of plants and their extracts. The company’s latest quarterly sales set records, up 78% over the previous quarter, validating corporate strategy, the popularity of its products, and the continued expansion of market share. Intent on supercharging revenue and earnings even further, Wildflower is about to finalize the acquisition of a preeminent cannabis retailer in Vancouver that also owns multiple cannabis licenses.

Wildflower’s latest press release is further evidence of the company’s rapid growth and global reach. The company reported third-quarter sales were up by 78% over the second quarter, the 11th consecutive quarter of revenue growth, since Wildflower Brands began selling products. On top of these stellar results the company is further expanding its retail footprint and product distribution with the accretive acquisition of Vancouver-based City Cannabis Corp.

City Cannabis is a premier cannabis retailer holding two of the three City of Vancouver licenses to sell cannabis and os the only company with multiple licenses in British Columbia. With margins of 50%, City Cannabis had revenues of $1.8 million for the reporting period that began with the opening of its two stores in early January. The combined quarterly revenues of Wildflower Brands and City Cannabis equates to an impressive $4.3 million. Wildflower expects to close on the City Cannabis deal before the end of June, and the acquisition will immediately be accretive to Wildflower’s earnings upon closing.

Bringing City Cannabis and Wildflower together will result in revenue operations in three U.S. states and two Canadian provinces with a combined North American target market of more than 75 million people. The positive net income generated by City Cannabis comes from just two operating properties, even though the company holds an additional seven leases at various stages of permitting approvals.

Commenting on the financials, Wildflower CEO William MacLean stated, “We are pleased with the financial results of both Wildflower and City Cannabis. Sales through every Wildflower distribution channel are up, and sales at City’s licensed retail outlets continue to grow month over month. The positive net income is particularly impressive with City Cannabis carrying a total of nine leases, which are at various stages of the permitting process.”

Grow, Grow, Grow

Already an established presence in California, Wildflower owns 14 cannabis licenses for recreational and medical cannabis cultivation, manufacturing, retail distribution and delivery. The company’s expansion into Canada with the acquisition of City Cannabis bolsters Wildflower’s global growth strategy, which is includes strategic distribution deals already in place in the European Union and South Africa. In addition to capturing revenues from retail operations, the City acquisition gives Wildflower another channel to market its enormously popular products and launch into the over-the-counter market with its CBD formulations and accessories.

Wildflower continues to capture ever-greater market share with innovation, retail expansion and a growing family of popular brands. The company’s strategic partnerships, acquisitions and organic growth are all bolstered by its marketing genius to lock in more loyal consumers. Grabbing national and celebrity attention, Wildflower used ingenious product placement during the 2019 Oscars by including its CBD+ Healing Stick in each of the gift bags of the stars.

The company has also employed an innovative pop-up store approach in SoHo, New York, to introduce Wildflower Wellness products. Wildflower identified a compatible high-profile retail venue and struck a deal with the outlet, then marketed its products in the upscale establishment for a limited time period, raising market uptake and visibility.

Big Names

Medmen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) is a cannabis retailer with operations across the United States and flagship stores in Los Angeles, Las Vegas and New York. Company objectives are to capitalize on first-mover advantage by opening stores in top markets and building brand awareness and customer acquisition. The company is also intent on expanding retail footprint and creating an omnichannel consumer experience.

Trulieve Cannabis Corp (OTC: TCNNF) (CSE: TRUL) is a vertically integrated, seed-to-sale company and is the first and largest fully licensed medical-cannabis company in Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the state, as well as directly to patients via home delivery. Trulieve also operates in California, Massachusetts and Connecticut.

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) is a global cannabinoid company with international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property by advancing cannabis research, technology and product development. The company is committed to responsibly elevate the consumer experience and is building an iconic brand portfolio.

Tilray Inc. (NASDAQ: TLRY) is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids. The company currently serves tens of thousands of patients and consumers in 12 countries spanning 5 continents. Tilray was the first licensed producer of medical cannabis in the world to have its facility Good Manufacturing Practices (GMP) certified in accordance with European Medicine Agency (EMA) standards.

The cannabis markets have already produced some amazing profits, but all indications are the industry is only at the beginning of an amazing ascent. There’s little doubt that a plethora of new winners will be created in the burgeoning sector. When searching for the next super nova, Wildflower Brands is certainly one to watch.

For more information on Wildflower Brands, visit Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF)

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Editor@CannabisNewsWire.com

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.