May 2020 - Page 3 of 6 - CannabisNewsWire

MondayMay 18, 2020 4:20 pm

420 with CNW – Marijuana Panic Buying Slows Down in Canada

As the threat posed by the coronavirus grew bigger, governments around the world issued lockdown orders and instructed all but the most essential businesses to close down. In the days and weeks preceding the stay at home orders, legal marijuana saw a spike in sales as people stocked up for what they thought would be a long period of self-isolation. However, several provinces in Canada deemed the marijuana industry essential, giving consumers constant access to cannabis during the lockdown. According to cannabis company executives, the COVID-19 boom in cannabis sales is dissipating, and consumers have slowed down their purchasing frenzy.…

MondayMay 18, 2020 10:11 am

SinglePoint Inc. (SING) Raises up to $7 Million in Its Bid to Capitalize on Growth Opportunities

SinglePoint Inc. announces entrance into financing arrangement to raise up to $7 million Funds are earmarked for refinancing the company’s existing liabilities at advantageous terms, funding new growth opportunities SING recently announced its subsidiary Direct Solar America is seeing 40 virtual appointments per week, extending nationwide footprint to 30 states Company expands its hemp-based product portfolio by launching Klen, an innovative line of hemp seed-infused hand sanitizers SinglePoint Inc. (OTCQB: SING), a publicly traded company dedicated to acquiring businesses focused on emerging technologies, reported that it had successfully entered into a financing arrangement to raise up to $7 million (http://cnw.fm/4bD3O), strengthening…

MondayMay 18, 2020 4:20 am

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

The state-legal cannabis industry has been subject to tons of hurdles ever since marijuana was first legalized. Due to federal prohibition, institutions like banks have avoided the industry, denying them access to vital services like cashless payments. Once the coronavirus pandemic hit and the dangers of cash transactions were exposed, change had to be affected. Now, House leadership has unveiled a coronavirus relief bill that includes provisions to protect banks that service marijuana businesses from federal retaliation. This had long been a bone of contention for advocates, stakeholders, and lawmakers even before the pandemic, and they have been pushing for…

FridayMay 15, 2020 4:20 pm

420 with CNW – Arkansas Medical Cannabis Sales Exceed $75 Million

Despite being illegal under federal law, cannabis has been legal in a number of states for a while now. Advocates for legal cannabis can talk about the benefits of legalization for days, but one of the main benefits has always been the potential for tax revenue. Like alcohol, the demand for cannabis is almost constant, and states that have legalized it have the potential of earning millions in sales revenue. Arkansas's first dispensary opened in May last year, and nearly $75 million and 12,000 pounds worth of medical marijuana has been sold since, according to the Arkansas Department of Finance…

FridayMay 15, 2020 4:20 am

420 with CNW – Pre-Employment Cannabis Testing Ban Takes Effect in New York City

Last year, the New York City Council approved a ban on pre-employment drug testing for marijuana. As of May 10, the ban took effect, and it stipulates that companies in the city can't conduct pre-employment tests for THC metabolites unless the position is safety sensitive. The original bill included language that exempted some jobs from the prohibition on testing, such as people charged with supervising or caring for children and positions "tied to a federal or state contract or grant." It also contains a provision that allowed the New York City Commission on Human Rights to expand the list of…

ThursdayMay 14, 2020 4:20 pm

420 with CNW – Amendment Paves Way for More Medical Cannabis Business Licenses to Be Issued in Missouri

The Missouri House has voted in favor of an amendment that would lift the cap on the state's medical marijuana licenses. This would allow essentially any business owner who meets minimum state requirements to secure a license. If the state Senate passes the amendment, it would open up Missouri's market to more cultivators, manufacturers, and dispensaries. "We have a great opportunity in Missouri to create thousands of jobs like Colorado, California, Oregon, Washington, Alaska, and Florida. Embrace the farmer, embrace the opportunity. Give Americans the right to succeed or fail," says KC Clark, a local cannabis advocate and CEO of…

ThursdayMay 14, 2020 4:20 am

420 with CNW – Florida Supreme Court Hears Pivotal Medical Cannabis Case

For the past few years, the medical marijuana industry in Florida has been held back by legislation that puts an immense amount of pressure on sellers. State legislation requires that the medical marijuana industry be vertically integrated. Facilities that sell marijuana on a retail level must also cultivate, process, and transport the product. There have been plenty of complaints about the state's vertically integrated system. It caps licenses and essentially requires anyone who wants to opt in to be a one-man army, and critics say most players aren't skilled enough to handle everything from growing, processing to selling. In 2016,…

WednesdayMay 13, 2020 4:20 pm

420 with CNW – New Impediment to Maine’s Anticipated Marijuana Sales Emerges

Maine's burgeoning marijuana industry has been stuck in developmental hell for the past few years. Despite Maine voters approving a ballot initiative to legalize marijuana in November 2016, there are still no retailers in the state. Since then, the journey to legal marijuana sales has been fraught with a number of legislative and regulatory changes, and in one case, a gubernatorial veto. The state released rules for adult-use cannabis businesses in June 2019 and began accepting applications for recreational retailers in December. The first conditional licenses were issued in March with the hopes of launching retail sales by spring. However,…

WednesdayMay 13, 2020 4:20 am

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

The coronavirus pandemic will without a doubt change consumer behavior for a long time to come. With more than 1.5 billion people worldwide under mandatory stay at home orders, there has been a major shift towards e-commerce. According to Brightfield Group, CBD companies interested in expanding their customer base and brand loyalty need to move quickly to build online relationships. The organization has been providing real-time consumer insights and market intelligence to CBD and cannabis brands during the coronavirus crisis, and it says that once consumers get used to online shopping and digital wholesale models, they won't be easy to…

TuesdayMay 12, 2020 4:20 pm

420 with CNW – 5 Apps for Different Cannabis Users

We live in an age where technology can be applied almost anywhere, and with great success. Anytime you get a little comfortable in your ways, some new kind of tech that greatly optimizes and enhances the experience comes out. The world of cannabis is no different, and there's a decent number of useful cannabis apps out there. You may be wondering how a cannabis app would help you. Well, they can do everything from calculating the proper dose of CBD to helping you maximize your yields. Bottom line is, they can be super helpful when they're used correctly. Our top…