June 2020 - Page 3 of 6 - CannabisNewsWire

ThursdayJun 18, 2020 4:20 am

420 with CNW – CBD Toxicity Study Informing FDA Regulation Will Commence in July

Since the 2018 Farm Bill legalized the cultivation and sale of industrial hemp and its extracts, the CBD industry has been steadily growing. Effective against a wide range of ailments and most importantly, devoid of cannabis' infamous high, cannabidiol has quickly become the go-to ingredient for people who have lost faith in pharmaceuticals. However, the industry is barely regulated, and the U.S. Food and Drug Administration (“FDA”) has repeatedly called for stakeholders to provide reliable scientific data, especially on the effects of long term use on the liver. A group of CBD brands is doing just that. They have sponsored…

WednesdayJun 17, 2020 4:20 pm

420 with CNW – Four States Where Marijuana Legalization Has Been Postponed to 2021 and Beyond

Almost six months into the year, the U.S. is still squarely within the coronavirus’ stranglehold, and the past few weeks have seen rising levels of civil unrest in most states. The economy is in free-fall and health experts warn that the coronavirus pandemic is nowhere near over. With everything that’s going on, it’s easy to forget that Election Day is drawing closer, and a dozen states have at least one ballot initiative devoted to legalizing cannabis. At least three states are guaranteed to have residents voting on cannabis legalization initiatives in November. However, while there are a few states where…

WednesdayJun 17, 2020 12:12 pm

Pure Extracts Corp. is “One to Watch”

Pure Extracts is the development leader in the Canadian cannabis extract segment, which is valued by Deloitte at $2.7 billion annually. The Company is positioned to be the dominant extraction company and a leader in the rapid development and commercialization of functional and medicinal psychedelic products. The psychedelic and functional mushroom industries are among the fastest growing in North America, with the global medicinal mushroom market expected to grow by $13.88 billion annually by 2024. Growing societal awareness and acceptance of mental illness as a legitimate disease have served as catalysts for a new search for innovative treatments and, as…

WednesdayJun 17, 2020 4:20 am

420 with CNW – High Potency Cannabis Boosts Blood THC Level But Not Impairment, Study Finds

As the state-legal cannabis industry continues advancing in both scientific knowledge and market share, one thing that has become clear is that cannabis today is a lot stronger than it used to be. Studies have found that marijuana in circulation today, both legal and illegal, is up to 5 times stronger than it was in the eighties, and this has raised serious questions on the effect of more potent weed on the body. According to a study of regular cannabis users published by the University of Colorado Boulder in JAMA Psychiatry, smoking high potency marijuana concentrates doesn’t necessarily make you…

TuesdayJun 16, 2020 4:20 pm

420 with CNW – Missouri Medical Marijuana Growers Face Additional Roadblock Before Planting Crops

At the moment, 33 states have legalized medical cannabis and 11 states plus Washington D.C. have taken things further and legalized recreational use. States with relatively successful legal marijuana programs like California and Colorado have surpassed $1 billion in cannabis tax revenue, and numerous advocates in other states are pushing for legalization. However, the industry is still immature, processes aren't streamlined across the board and everyone from cultivators to retailers is subject to lengthy and time-consuming verification processes. Marijuana business owners in Missouri, for instance, already face a lengthy verification process, and they say they have been caught off guard…

TuesdayJun 16, 2020 1:54 pm

Sugarmade Inc. (SGMD) Reports Record Growth, Anticipate Continued Robust Numbers

Company announced its BudCars Cannabis Delivery Service racked up 58% month over month sales growth SGMD CEO notes that “we believe our daily sales in the LA area could triple that figure relatively quickly” In addition to impressive sales figures, Sugarmade maintained extremely strong supplier relationships Sugarmade (OTCQB: SGMD), an early pioneer within California’s regulated cannabis industry, has seen record-breaking sales numbers with its latest cannabis venture: Budcars Cannabis Delivery Service. In a recent announcement, SGMD reported 58% month over month sales growth for the Sacramento-based subsidiary, which is slated to expand into the Los Angeles area this summer (http://cnw.fm/2DzuN).…

TuesdayJun 16, 2020 11:29 am

Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Q1 2020 Financials Reveal Company’s Overall Health, Showing Net Revenue, Gross Profit Increases

PLUS sees million-dollar increases in net revenues, gross profits; significant improvements in operating costs and cash balance. Q1 financial results paint picture of healthy company. Launch of PLUS CBDRelief brand marks company’s entrance into wellness, relief space of cannabis adult-use market. Plus Products (CSE: PLUS) (OTCQX: PLPRF), a U.S. cannabis-branded products company, announced its first-quarter financial results (http://cnw.fm/s19nX). The unaudited financial and operational results, reported for the three months ending March 31, 2020, noted an increase in net revenues and gross profits, with an improvement in operating costs and a multimillion-dollar cash balance. “The start of this year came with…

TuesdayJun 16, 2020 8:36 am

Womxn, Wellness and Cannabis Conference a Success

All session recordings are free to access and available now Marigold PR’s inaugural Womxn Wellness and Cannabis Conference (WWC Conference) is being hailed as a stand-out success after attracting almost 1,000 participants from across the globe. The one-day, free WWC Conference is the first global summit focused on inspiring, connecting, and celebrating the work and experiences of womxn in the cannabis industry. The virtual conference attracted 960 registrants and featured over 50 speakers from eight countries who lead high-quality panel discussions relevant to the female cannabis professional and consumer. Katie Pringle, the co-founder of WWC Conference and Marigold PR, says…

TuesdayJun 16, 2020 4:20 am

420 with CNW – Why the Marijuana Black Market Still Persists in California

California is one of the best examples of just how much a state-legal marijuana program can achieve if it's done right. The state has been at the forefront of the efforts to legalize cannabis in the U.S., with the country's first ballot initiative to legalize marijuana taking place in California in 1972. Although the measure was unsuccessful, California was still the first state to allow medical cannabis in 1996, and recreational marijuana has been legal in the state since 2016. The recreational program has been especially successful, generating over $1 billion in tax revenue after just two years of operation.…

MondayJun 15, 2020 4:20 pm

420 with CNW – Nevada Governor Introduces Bill to Pardon Marijuana Convicts

For the past few decades, marijuana has been federally prohibited, and the infamous 'War on Drugs' has been responsible for tons of marijuana arrests and convictions. Even with multiple states legalizing cannabis in various capacities over the years, a large percentage of drug arrests are still marijuana-related. In 2018, four in ten arrests were marijuana-related, and around nine in ten of the arrests were for possession, not selling. One of the biggest arguments for legalizing marijuana has been to right these wrongs and ensure people with low-level marijuana convictions are not held back by their records again. On Thursday, in…