420 with CNW – Israel to Temporarily Slash Prices and Authorize Marijuana Exports

The Israeli government has kicked off a new program that will make medical cannabis products more affordable and cut down the country’s reliance on cannabis imports. The pilot program was announced by Health Minister Yuli Edelstein and Deputy Health Minister Yoav Kisch on Sunday. In an effort to alleviate the financial burden on Israel’s medical cannabis patients, the program will subsidize medical cannabis products to around half their current prices effectively immediately until the end of 2020.

The program seems to be addressing some of the issues caused by Edelstein’s predecessor, Ya’acov Litzman’s 2018 reforms. Since they were enacted, they have been widely criticized for causing long lines, reduced product quality, and major product shortages. These reforms ended up turning Israel, once a major medical cannabis exporter, into one of the world’s largest cannabis importers.

Under the pilot program, companies in the Israeli medical cannabis space will have to offer their products at a discounted rate of NIS 140 ($41.45) per ten grams for adults and NIS 100 ($29.61) per ten grams for children. Additionally, cannabis companies will only be allowed by the ministry to export after they have reduced domestic prices and demonstrated they have enough inventory to supply local markets.

Health Minister Yuli Edelstein said in a statement that after medical cannabis consumers had to pay huge sums for the drug, he was glad they’ve started the product discounting process. “Much more work is needed to make the price accessible and reduce it further even after the pilot period and we will do so.” Deputy Health Minister Yoav Kisch stated after the announcement that he was “pleased” that they could address what he describes as the most urgent problem in need of fixing within the industry, price.

“This is an experimental pilot of three months that will provide an immediate price reduction with a continuous supply of inventory while opening up the export market to cannabis companies in the State of Israel. The success of the move and the burden of proof depend on the manufacturers. If the inventories and low prices are maintained, so will the ability to export after the pilot,” he says.

The move to reduce prices and increase local production and supply has been met with approval from Dr. Dadi Segal, CEO of Panaxia, Israel’s largest medical cannabis company, who announced that Panaxia’s price changes will start on Monday. “This is good news for the entire Israeli economy, for the companies that operate in it and for medical cannabis patients in Israel, which will subsequently have greater access to quality products at subsidized prices.”

There’s a lot of innovation currently going on within the cannabis industry around the globe, and one of the interesting companies that you can watch to see how quickly things are evolving is The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER). They use electrolysis to deliver perfectly balanced water whose pH is 8.8. the alkaline water segment is just poised for explosive growth, and such entities give insights into the direction in which the cannabis industry is headed.

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

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420 with CNW – Vermont Governor Allows Marijuana Bill to be Operational Without His Signature

Cannabis legalization activists in Vermont can finally breathe a sigh of relief after the governor announced that he will allow legal marijuana sales to take place in the state without his signature. Although the state legalized personal possession of up to one ounce and cultivation of two plants in 2018, retail sales have been prohibited. Governor Phil Scott’s decision to allow legal sales will finally create a tax-and-regulate system for the industry. On top of that, he also signed separate legislation to automate expungements for prior cannabis convictions.

Before being reconciled in a bicameral conference committee last month, different versions of the marijuana sales proposal passed each chamber. After the finalized proposal was sent by the legislature to the governor, he was non-committal about his plans for the legislation up to the day before the signature deadline. Although he hinted that he was considering vetoing the bill, he ultimately decided to let the legislation pass.

Most of Gov. Scott’s issues with the proposal had to do with impaired driving, taxes, and local control. Before the finalized proposal was presented to him, the governor stated that while he appreciated the legislative process the bill had gone through, certain racial justice groups had raised concerns with his office about how the proposal addressed social equity in the cannabis industry for communities that had been most affected by prohibition.

Last Tuesday, he stated that lawmakers “did move forward in a lot of areas that I had concerns about, but it isn’t exactly what I’d like to see and there are some shortcomings.” But when the time came, he stood out of the way and let the legislation pass. “However, there is still more work to be done to ensure the health and safety of our kids and the safety of our roadways – we should heed the public health and safety lessons of tobacco,” Gov. Scott wrote in a letter to lawmakers announcing his decision.

“Further, I believe we are at a pivotal moment in our nation’s history which requires us to address systemic racism in our governmental institutions. We must take additional steps to ensure equity is a fundamental principle in a new market. The concerns with this bill of the communities historically most affected by cannabis enforcement were not meaningfully incorporated into this bill,” he says.

He argued that lawmakers should consider creating a social equity applicant category for cannabis licenses as well as a 50% licensing waiver for those applicants and additional technical and financial assistance. Despite the bill’s apparent shortcomings, it has been celebrated by cannabis reform activists.

“It’s a great relief to learn that Vermont will finally move forward with plans to replace prohibition with sensible regulation,” says Matt Simon, New England Political Director for the Marijuana Policy Project. “Legislators bent over backward to address Gov. Scott’s concerns throughout this process, and it’s now clear that these difficult compromises weren’t made in vain.”

Now that the wait for a law is over, experts say cannabis industry players like The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) can now count off yet another state which has ended prohibition.

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420 with CNW – How Tech Could Change How You Use Medical Cannabis

Over the years, attitudes towards cannabis have been changing for the better. Although federal law still considers cannabis a controlled substance, 33 states have legalized the medical use of cannabis within their borders. While there isn’t a lot of research to back cannabis’s medical abilities, preliminary findings have found that cannabis can be effective at reducing chronic pain, stress, and anxiety, regulating and preventing diabetes, and regulating seizures caused by pediatric epilepsy.

The cannabis industry has become known for its innovation, both in consumer products as well as in cultivation. Today, cannabis is more potent and it can be consumed by customers in more forms than it could a decade or two ago. Being a relatively new industry, cannabis has emerged into a market that uses technology to deliver greater quality and service to customers. Integrating flexible, personal, and responsive technology will enable the fledgling industry to better cater to customers with chronic health conditions.

Artificial intelligence, for instance, will play a big role in ensuring businesses can connect with their customers and provide them important resources. Chatbots are already common on most websites; they improve customer service, increase customer engagement, monitor consumer data, reduce costs and lead to better lead generation. Since Al learns how to interact with people through every conversation, the more customers use it, the smarter it becomes. AI will allow businesses to automate more operations, allowing firms to ramp up their production of medical cannabis while reducing the risk of error.

DNA sequencing has been around for a while, and cannabis businesses can use the technology to create a more homogeneous industry. With DNA technology, growers across the country will be able to grow cannabis with zero amounts of CBD or THC. Additionally, they will also be able to customize or strengthen the genetics, boosting the medical benefits to suit more people’s needs. It will also allow cultivars to play around with hybrid genetics that could deliver even more diverse and potent medical benefits, all while staying within local THC or CBD limits.

Greater product selection will be another consequence of integrating technology into the cannabis space. Cannabis already lends itself to numerous applications, including smoking and edibles, but technology is sure to produce even more. Customers will have an even greater selection of products and product types, giving them a bigger pool of options to choose from. This will allow consumers with chronic health conditions to find a product that most suits their needs and preferences quickly and without much hassle.

Mobile apps will represent cannabis’ entry into e-commerce, giving cannabis businesses access to a wider market. Still a ways off, such mobile apps will reflect the different needs and laws surrounding medical cannabis, allowing more consumers access to medical marijuana. If you have a disability or live in an area with limited access to transportation, mobile apps coupled with fast delivery will enable you to purchase your medicine and have it brought to you from the safety of your home.

Analysts say such a tech-dominated future is already taking shape in cannabis companies like The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER).

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CannabisNewsBreaks – The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) Expands Flagship Brand to Fill the Void in Club Market, Specialty Retailers

The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER), a producer of premium bottled alkaline and flavored-infused drinking waters and CBD-infused products, today announced that its new 2-liter six-pack packaging for its flagship brand, Alkaline88(R), will now be carried by HomeGoods stores across 500 nationwide locations. “We are excited to announce that our new 2-liter six-pack offering for our core brand, Alkaline88, will be available at HomeGoods stores nationwide,” WTER president and CEO Ricky Wright said in the press release. “This unique six-pack complements our existing line-up, especially our single-serve offerings, which continue to do well in the current environment. The two-liter format is extremely popular in the carbonated soft drinks segment but virtually nonexistent in the bottled water category. Originally we envisioned this format for the club market, but we see this resonating with the health and wellness lifestyle-focused consumers across all trades given its optimal size. We believe this packaging will appeal to buyers that tend to make purchases in larger quantities and fills the void that currently exists in the club market as well as specialty retailers.”

To view the full press release, visit https://cnw.fm/3atJ0

About The Alkaline Water Company

Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH-balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label: Clean Beverage. Quickly being recognized as a growing lifestyle brand, Alkaline88 launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused flavored water is available in seven unique all-natural flavors with new flavors coming soon. Additionally, in 2020, the company launched A88 Infused Beverage Division Inc., which includes the company’s CBD water and flavor-infused water. For the company’s topical and ingestible offerings, A88 Infused Products includes both the company’s lab-tested, full-spectrum hemp salves, balms, lotions, essential oils and bath salts, along with broad-spectrum hemp beverage shots, powder packs, oil tinctures, capsules and gummies. To learn more about the company, visit www.A88CBD.com and www.TheAlkalineWaterCo.com.

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420 with CNW – Illinois Marijuana Sales Still Surging, Data Shows

Months into the coronavirus pandemic, the state-legal cannabis industry is still going strong. Although the pandemic forced many industries to shut down, resulting in the loss of millions of jobs, the cannabis industry has fared quite well despite the economic crisis. Most states have seen increased cannabis sales month over month, with some even calling the industry ‘recession-proof’.

One such state is Illinois, which has seen record-breaking marijuana sales for the fifth time in a row. In September, consumers purchased more than 1.4 million marijuana products worth nearly $67 million, with almost $18 million of those sales coming from out-of-state visitors, according to the state Department of Financial and Professional Regulation. This is a slight increase compared to the 1.3 million marijuana products sold for a total of nearly $64 million in August.

In July, Illinois reported nearly $61 million in adult-use cannabis sales, beating out by a wide margin the $44,749,787 worth of cannabis sold in June.

Although the data from September doesn’t include data about purchases made through the state’s medical cannabis program, it seems to support the notion that the cannabis industry is recession-proof.

Like most states that have legalized cannabis, Illinois declared the cannabis industry essential, allowing businesses to keep operating amidst the lockdown orders.

State officials say that although the month over month increase in sales is positive economic news, they are more interested in directing cannabis tax revenue towards restorative justice measures. Most states that allow cannabis have provisions that allocate cannabis tax revenue to programs that reinvest in communities most affected by the decades’ long war on drugs and Illinois is no different.

Illinois has brought in around $52 million in cannabis tax revenue in the first six months since retail sales began in January. Back in May, the state announced that $31 million in restorative justice grants sourced from cannabis sales tax would be available. Under a Restore, Reinvest, and Renew (R3) program established by the legalization bill, the funds would be used to provide grant opportunities for “communities impacted by economic disinvestment, violence and the severe and multilayered harm caused by the war on drugs.”

Later in July, the state announced that 25% of cannabis tax revenue would go toward a social equity program. “We were not doing this to make as much money as we could, “says Toi Hutchinsons, senior cannabis advisor to Gov. J.B Pritzker. “We were actually doing this for the people.”

Many cannabis industry players like The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) believe that legalizing and regulating the industry would bring untold economic benefits, and the figures from Illinois prove this to be the case.

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420 with CNW – Congress Again Includes Cannabis Banking Protections in Third Stimulus Bill

Players in the cannabis space are cautiously optimistic after the House of Representatives approved a wide-ranging coronavirus relief bill containing text from the Secure and Fair Enforcement (“SAFE”) Banking Act. For the longest time, players in the cannabis space have been unable to access banking services due to cannabis’ status as a Schedule I drug, forcing them to rely on cash-only transactions. Not only does this put them at risk of theft and burglary, but it also makes social distancing during the pandemic almost impossible.

Passed by the House last year but held in limbo in Senate, the SAFE Banking Act would protect banking institutions and allow them to serve cannabis businesses without fear of federal reprisal.

This is the second time this year that the House has inserted cannabis banking language in a Coronavirus relief bill. But while cannabis banking is an issue that’s dear to the Democrats, the Republican-controlled Senate has been in staunch opposition to the inclusion of cannabis banking in a coronavirus relief bill. Both Senate Majority Leader Mitch McConnell and Vice President Mike Pence have criticized the marijuana components, arguing that they don’t relate to the matter at hand.

Just a day before Thursday’s vote, McConnell took to the floor of his own chamber to say that the House Bill provides “special treatment to the marijuana industry,” adding that the legislation mentions the word ‘cannabis’ more times than the words ‘job’ or ‘jobs.’ And unlike the House, the Republican-held senate did not include cannabis banking language in its own version of the coronavirus relief bill filed back in July.

However, Democratic leaders, as well as cannabis reform advocates, argue that granting cannabis businesses access to banking institutions could reduce the spread of the coronavirus by reducing the industry’s reliance on cash-only transactions. On top of that, allowing small cannabis businesses to bank with financial institutions gives them access to much-needed capital.

“The continued inclusion of my SAFE Banking Act in this package is important for the cannabis industry and its workers,” says Rep. Ed Perlmutter, the lead sponsor of the cannabis banking legislation. “The industry faces an increased public safety risk and public health risk by being forced to make transactions in all cash. The SAFE Banking Act, which already passed the House with a broad bipartisan vote, will take cash off the streets, enable better social distancing in transactions, and support good-paying jobs in communities across the country when we need them most.”

It remains to be seen whether the hopes of cannabis companies like The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) will be fulfilled or put on ice yet again.

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CannabisNewsBreaks – The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) Announces Board Appointment of Seasoned Retail Veteran

The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER), a producer of premium bottled alkaline and flavored-infused drinking waters and CBD-infused products, today announced the appointment of retail industry veteran Frank Lazaran to its board of directors, effective Oct. 8, 2020. Lazaran will serve on the company’s audit and compensation committees. Simultaneous to the appointment, Bruce Leitch has decided to step down from the company’s board of directors to focus on other business endeavors. “On behalf of the board, we are delighted to welcome Frank Lazaran as a full-time member of The Alkaline Water Company’s Board of Directors,” WTER Chairman of the Board Aaron Keay said in the news release. “Frank is a seasoned industry veteran with experience and knowledge that will be instrumental as we scale our growing lifestyle brands to existing and new trade channels. Also, we want to thank Bruce for his outstanding leadership and guidance since 2016. His various contributions have helped to drive growth and innovation for our core brand, Alkaline88(R), and our emerging portfolio of A88 Infused(TM) and A88CBD(TM) products.”

To view the full press release, visit https://cnw.fm/8o7ab

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420 with CNW – Washington State Keeps Tabs on Ongoing Marijuana Research as Officials Consider Reforms

Months into the coronavirus and amidst the biggest economic crisis the state has seen in a century, Washington State’s marijuana industry is going strong. Dispensaries saw a “pretty big spike” in sales in March that is still continuing into September, says David Morgan, co-owner of Lucky Leaf in downtown Spokane. With the legislature adjourned at the moment, a legislative committee that oversees the industry is considering a variety of industry reforms including increasing the amount of information on product labels, as well as keeping track of the growing number of studies supported by marijuana sales tax.

During a recent work session to study major issues faced by the state’s marijuana industry, the House Commerce and Gaming Committee gathered information on whether to provide more information about the main chemical compounds in cannabis on product labeling. Although the plant produces over 200 cannabinoids, the two most dominant and the ones found in most cannabis products are THC and CBD. THC is responsible for marijuana’s infamous “high” while cannabidiol is known to induce health benefits such as relieving pain and anxiety and combating insomnia.

The committee also looked into the state’s current limits in potency for certain products. At the moment, Washington State limits the amount of THC in a single serving of any edible product to 10 milligrams with no more than 10 such servings per package. The legislature could consider limiting the amount of THC in cannabis concentrates to 10% next year, but a bill on that subject did not make it out of committee in this year’s session.

The committee was also appraised of the studies funded by taxes imposed on cannabis sales. Washington State University (“WSU”), for instance, has a range of studies that include crime, health, agriculture, and economics, and it has been charged with studying the effects of marijuana on pregnancy and adolescence. According to Ryan McLaughlin of the Department of Integrative Psychology and Neuroscience, researchers from WSU have developed an innovative way to use rats to simulate how people consume marijuana.

A rat is placed in a small chamber that allows it to push its nose through an opening, triggering the release of cannabis extract vapor. This allows researchers to see if adolescent rats develop a preference for extracts with more THC than CBD and how the use triggers changes in the brain as they grow, McLaughlin says. Celestine Barbosa-Leiker, vice chancellor for research at WSU Health Sciences Spokane, told the committee that marijuana use among pregnant women has doubled between 2012 and 2017.

A lot of pregnant women confessed that they regularly smoke marijuana to combat morning sickness, alleviate pain, and to help them sleep. However, they were getting mixed messages from health care providers, Barbosa-Leiker says, and they were doing their own research. “They’re relying on budtenders for their scientific and medical information.”

Industry watchers say that the research-based approach to decision making in Washington State is supported by cannabis companies like The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) who prefer policymakers that are informed while they do their work.

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CannabisNewsBreaks – The Alkaline Water Company Inc.’s (CSE: WTER) (NASDAQ: WTER) A88 Infused(TM) Grabbing Shelf Space in Trend Expected to Accelerate

The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER), a producer of premium bottled alkaline and flavored-infused drinking waters and CBD-infused products, today announced that its A88 Infused(TM) brand is gaining ground in the fast-growing flavored water market. According to the update, A88 Infused flavored water is widely available through multiple channel partners across various trades. “Demand for our single-serve offerings are at an all-time high, and we are rapidly growing shelf space for our A88 Infused flavored waters,” WTER president and CEO Ricky Wright said in the press release. “Our channel partners are some of the leading players in the all-natural vertical and give us a reach into nearly 40,000 retailers nationwide. Our sales team is working closely with our partners to create ‘speed-to-market’ programs, including promotion and incentives to drive further momentum. We are doing a great job creating new leads, and currently, our flavors are carried by or have placement commitments from nearly 13,200 stores across the U.S. Also, initial interest in our recently launched innovative offering, A88CBD infused Lemon-Lime flavored water, is strong, and we expect the SKU to be very appealing to the retail category buyers. Our A88 Infused brand is now available in some of the top supermarkets, retailers, and wholesalers, and we expect this trend to accelerate throughout our fiscal year.”

To view the full press release, visit https://cnw.fm/mNM6C

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420 with CNW – Recreational Marijuana Legalization in New Jersey Could Trigger Regional Domino Effect

A projection of sales shows the recreational cannabis industry in New Jersey reaching between $850 and $950 million annually by 2024. The state, which has a population of almost 9 million people, will be holding a vote for residents to legalize a recreational marijuana market come November. For many, this is a risk they are willing to invest in, with billions of dollars’ worth of business opportunities riding on the outcome of the vote.

If New Jersey residents approve the marijuana market, many leaders expect a similar chain of events to occur inland and along the Eastern Seaboard, which will create an adult-use cannabis region that will be among the largest globally.

The total population of the states that have been in talks about adult-use legalization which include Pennsylvania, New York, Rhode Island and Connecticut, is 37 million, which is more than four times the number of people who reside in New Jersey.

With a recreational cannabis industry already established in Massachusetts and another smaller market set to launch on October 9 in Maine, the president of the CannaBusiness Association, New Jersey, Scott Rudder, predicts that New Jersey is the last hurdle for Pennsylvania, New York and the surrounding states.

A cannabis attorney, Bridget Hill-Zayat, agrees with Rudder, stating that the legalization of a recreational cannabis market in New Jersey will motivate the surrounding states.

Despite the New Jersey proposal lacking some details like the number of business licenses that will be made available, regulations and laws will be added on by cannabis regulators and state legislators after voters pass the initiative.

According to a DKC Analytics poll that was conducted in July, 68% favor the legalization initiative with 26% against it and another 6% polling as unsure. An earlier poll that was carried out in April by the Monmouth University showed that 61% of the respondents were in favor of the legalization.

At the moment, the state has only 12 medical cannabis dispensaries with a few more expected to open in the months to come. Many believe that the medical marijuana dispensaries currently operating will be the first to operate in the adult-use market, as a way to accelerate but also ease the market’s launch by late 2021.

Rudder predicts a level of urgency from legislators to give the authority and for regulators to establish regulations due to the pressure the sector will be under to create economic opportunities and generate tax revenue. This is mainly because of the effect the coronavirus pandemic has had on the state’s economy. These anticipated economic benefits confirm what the marijuana industry, including companies like The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER), has always believed about the immense benefits of having a regulated cannabis market.

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