August 2020 - Page 5 of 6 - CannabisNewsWire

TuesdayAug 11, 2020 4:20 am

420 with CNW – Regulators in Massachusetts Asked to Revisit Marijuana Telehealth and Delivery

Back in 2016, voters in Massachusetts elected to legalize cannabis in the state. Nearly four years later, the legal landscape of Massachusetts' legal cannabis industry is still changing and shifting. Like in most states with a legal cannabis program, the industry is fairly young, and regulators are working together with stakeholders and consumers to create a regulatory framework that works for everyone. Last Monday, there was a public hearing held to collect input on the cannabis industry from medical marijuana patients, caregivers and aspiring entrepreneurs. The information will help the Cannabis Control Commission (“CCC”), which was tasked with regulating the…

MondayAug 10, 2020 4:20 pm

420 with CNW – Israel Health Ministry to Slash Medical Marijuana Prices in Half

Israel’s medical cannabis program recently went through a number of reforms that will see patients purchasing medical cannabis for up to 50% off the current price. The changes were presented by Health Minister Yuli Edelstein in the Knesset’s Labor, Welfare, and Health Committee. The reforms include switching from a license system to a prescription system, demanding a special budget basket from the Ministry of Finance, directing marketing and sale outside of pharmacies, the removal of cannabidiol (“CBD”) from the Dangerous Drugs Ordinance, transparency of products components for patients, and more. According to Edelstein, he was exposed to the increasingly popular…

MondayAug 10, 2020 11:56 am

Pac Roots Cannabis Corp. (CSE: PACR) is “One to Watch”

Pac Roots focuses on high-end genetics in order to maximize the quality of its products while maintaining high yields and profit margins Through a partnership with plant breeding management and analytics firm Phenome One and its massive genetics library, Pac Roots is well positioned to become a trailblazer in providing industry-leading strains not currently available in the regulated market Via over 350 analytically assayed and rigorously tested cultivars and the continued development of elite lineages, the company offers unique varieties focused on medicinal applications and featuring specific cannabinoid and terpene profiles The company’s selective breeding process results in a catalog…

MondayAug 10, 2020 4:20 am

420 with CNW – 2021 Looks Promising for Pot Stocks

Had the coronavirus pandemic not struck, 2020 would have been a good year for cannabis. Several states were planning on legalizing cannabis either through a ballot or inclusion in the budget, but a lot of these plans have been put on the backburner. However, despite the ongoing health and economic crisis, cannabis stocks have fared relatively well. There was an initial dip in the industry’s value when the coronavirus struck but after a month or two, states were reporting record breaking cannabis sales. As we begin the last half of the year, investors are gearing up for 2021, which they…

FridayAug 07, 2020 4:20 pm

420 with CNW – Illinois Cannabis Sales Break Records in July

The months after the coronavirus broke out were characterized by a severe decline in commerce. Industries like airlines, food service and tourism were especially hit, with a large chunk of the more than 30 million Americans who lost their jobs coming from these sectors. Cannabis, on the other hand has weathered the storm fairly well. There was a spike in marijuana sales in the weeks leading up to the shutdown and self-isolation orders and in the months since, several states have reported record breaking sales. On Monday, Illinois’ Department of Financial and Professional Regulation announced that the state had recorded…

FridayAug 07, 2020 4:20 am

420 with CNW – Senate Bill Seeks to Legalize and Tax Cannabis Like Tobacco

So far, 2020 has been pretty rough on drug reform initiatives. Marijuana legalization activists in states like Idaho and Florida have had to postpone their legalization activities after the coronavirus pandemic made signature collection almost impossible and kept lawmakers occupied with more urgent issues. However, the push for federal marijuana reform received a massive boost after a Democratic Senator filed a new bill to federally legalize marijuana in late July. Titled the ‘Substance Regulation and Safety Act,’ the legislation was sponsored by Senator Tina Smith. If passed, it would remove cannabis from the Controlled Substances Act and direct federal agencies…

ThursdayAug 06, 2020 4:20 pm

420 with CNW – Amazon Prime Unveils Search for Marijuana Business Talent

Michael Straumietis, commonly known as 'BigMike', is one of the most successful cannabis entrepreneurs in the world. He founded cannabis fertilizer brand Advanced Nutrients, a firm that has earned him millions over the last two decades. Said to be the world's leading cannabis fertilizer, the brand's products are sold in 109 countries and counting with an annual revenue of over $84 million. For 37 years, he has been a revolutionary for the industry and now, he has set out to "discover the new industry Titan." From August 15, BigMike will star in The Next Marijuana Millionaire, a reality show that…

ThursdayAug 06, 2020 4:20 am

420 with CNW – How COVID-19 is Dampening CBD Sales

As 2019 drew to a close, no one expected the virus that had been discovered in Wuhan, China in November to bring the world to a complete standstill. Three months into the year, however, the resultant pandemic had caused massive damage to the economy, with industries like food service and airlines shouldering millions of job losses. Although cannabis products enjoyed a spike in sales in the week or two leading up to lockdown orders, the COVID-19 pandemic has since dampened CBD sales. The nascent industry had previously seen extremely encouraging projections, with last year's BDSA and Arcview Market Research industry…

WednesdayAug 05, 2020 4:20 pm

420 with CNW – The COVID-19 Outbreak is Hitting Illegal Cannabis Sales Hard

For many proponents of legalizing marijuana, snuffing out the black market and bringing all that revenue into the state coffers was a big motivation. However, the truth is the black market has thrived alongside state legal weed, and in many cases has actively undermined and drawn profits from the legal market. With the coronavirus pandemic in full swing, though, illegal cannabis sales have been hit. Hard. In the early days of the pandemic, it was established that COVID-19 was a respiratory disease and folks with poor lung health were more at risk of developing severe symptoms. As beneficial as marijuana…

WednesdayAug 05, 2020 4:20 am

420 with CNW – Congress Passes Amendment Shielding State Cannabis Programs from Federal Interference

As July drew to a close, the House of Representatives voted in favor of an amendment that would protect all state, territory and tribal marijuana programs from federal interference. Sponsored by Reps. Earl Blumenauer, Tom McClintock, Eleanor Holmes Norton and Barbara Lee, the measure would prevent the Department of Justice from using its funds to impede the implementation of cannabis legalization laws. It was passed in a 254-163 vote on the floor and it builds on an existing, more limited provision to shield only state medical cannabis laws from federal interference. As more and more states have legalized either medical…