September 2020 - Page 3 of 6 - CannabisNewsWire

FridaySep 18, 2020 4:20 am

420 with CNW – Missouri Injects $2.1M from Medical Marijuana Taxes into Veterans’ Health Programs

For most states that legalized either recreational or medical cannabis, earning tax revenue wasn’t the endgame. Although sales tax wouldn’t hurt, especially now that the coronavirus pandemic has drastically affected the economy, plenty of states pledged to use some of the tax revenue derived from cannabis sales to fund social justice initiatives like health programs for military veterans. Missouri was among them, and although medical cannabis sales are slated to start later this month, the Show-Me State recently completed the first-ever transfer of cannabis revenue to a state’s veteran fund. More than $2.1 million was transferred from the Department of…

ThursdaySep 17, 2020 4:20 pm

420 with CNW – New Jersey Residents to Vote on Marijuana Legalization During November Poll

The coronavirus pandemic and the coming presidential election have eclipsed New Jersey’s ballot for this year, its highest profile one in 2020. Despite this though, New Jersey may be the latest state to legalize recreational cannabis, that is, if the constitutional amendment gets a yes majority from the voters. In the first-ever vote-by-mail election in New Jersey, ballots are set to be sent to registered voters in the state soon. Apart from voting for president as well as the U.S. Senate and House, the people of New Jersey will also be tasked with deciding whether to amend the state constitution…

ThursdaySep 17, 2020 12:33 pm

The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) Reports Record Numbers, Ranks in Top-10 Nielsen Report

In its most recent SEC filings, WTER announced record first-quarter revenue of $14.2 million Alkaline88 ranked as 10th best-selling value-added water and third fastest-growing value-added water in Nielsen report WTER marks milestone by adding the largest food-service redistributor to its growing list of channel partners The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER) continues its impressive upward trajectory, releasing record numbers in its latest financial report and ranking in a top-10 category in a recent Nielson report. In addition, with the announcement of its recent distribution agreement with DOT Foods, the company is aggressively expanding into the hospitality channel. In…

ThursdaySep 17, 2020 4:20 am

420 with CNW – Colorado Marijuana Farmers Risk Losing Millions as Early Cold Weather Sets In

Although growing cannabis can be quite a rewarding experience, it is fraught with numerous complications. The plant requires a specific set of conditions to thrive, and farmers could find themselves facing losses due to any number of reasons. This time, it was the cold. Colorado has seen uncharacteristically frigid temperatures this month. The second week of September saw especially cold temperatures that dropped below freezing and dumped inches of snow on the ground, potentially destroying millions of dollars’ worth of outdoor cannabis and hemp plants. For most outdoor cannabis and hemp farmers in Colorado, the roughly 70-degree temperature swing came…

WednesdaySep 16, 2020 4:20 pm

420 with CNW – Marijuana Back in the Spotlight; Twitter to Blame for Bad Press

Twitter has partnered up with the Substance Abuse and Mental Health Services Administration to advocate for substance misuse treatment. When a Twitter user searches for “marijuana” or any other substance-related keyword, health warnings will appear. However, it turns out this only applies to marijuana. In partnership with the same federal drug agency, Twitter began to add a notification above tweets on certain drug terms earlier this week. In addition to this, the notification also directs Twitter users to SAMHSA’s website and help line. Advocates for drug policy reform have drawn attention to the fact that the message sustains the stereotype…

WednesdaySep 16, 2020 1:02 pm

Pure Extract Technologies Inc. Building Presence in Billion-Dollar Mushroom Space

“Mushrooms are having a moment,” reports “Forbes” article Sector projected to benefit from both users, investors Pure Extracts Technologies well positioned to partner with organizations eyeing development in both functional, psychedelic products In what “Forbes” magazine is calling a “moment,” mushrooms are seeing rising popularity as growing numbers of people are interested in using the fungi as well as investing in them. This is great news for companies such as Pure Extract Technologies (“Pure Extracts”), a Canadian plant-based extraction company entering the functional medicinal mushroom space and collaborating in the psychedelic space “Psychedelics have been a mainstay for a millennia…

WednesdaySep 16, 2020 4:20 am

420 with CNW – 4 Marijuana Harvesting Tips for Outdoor Growers

The harvest season is the most taxing as well as the most thrilling time of the outdoor plant growth cycle. This season can either make or break an entire year’s operation. To ensure your harvest is snag-free and also successful, here are some of the key things you should make sure are ticked off your ‘before-harvest’ checklist. Ensure that your drying area has been prepared and is ready for use It is important to sanitize and clean the drying area to be used. This will help prevent post-harvest contamination as well as ensure that your processing operation runs smoothly. Additionally,…

TuesdaySep 15, 2020 4:20 pm

420 with CNW – IRS Publishes Tax Guidance for Cannabis Industry

The U.S. cannabis industry has been in a precarious position for the past few years. Although more than thirty states have legalized cannabis sales in some form, the plant remains illegal at the federal level. So, although businesses can sell cannabis as long as they obtain a state license, federal law considers the business illegal. Despite this, marijuana businesses are required to pay federal tax and because marijuana remains illegal at the federal level, they are denied access to tax benefits. Early this month, the Internal Revenue Service (“IRS”) released updated guidance on tax policy for the nascent marijuana industry.…

TuesdaySep 15, 2020 4:20 am

420 with CNW – Data Suggests Colorado Marijuana Users are Transitioning from Consumers to Patients

Six years after Colorado legalized adult recreational use of cannabis and amidst the largest health and economic crisis in a century, the state’s cannabis industry is flourishing. June saw recreational marijuana shops sell more than $155 million worth of cannabis products, a 6% increase from the $149,186,615 worth of cannabis products sold in May. July was even more profitable with the state reporting $42 million in medical marijuana revenues and $164.2 million from recreational marijuana for total monthly sales of $206.7 million. Colorado is representative of the entire country’s cannabis industry: it was declared essential at the start of the…

MondaySep 14, 2020 4:20 pm

420 with CNW – Affordable Deals Drive Ohio Residents to Michigan to Purchase Medical Marijuana

Michigan has a new consumer market: Ohio’s medical cannabis patients and no, it’s not because their marijuana is better or of a higher quality. Only because it’s cheaper. Marijuana card holders from Ohio have revealed numerous times that they only travel to the cannabis clinics up north in Michigan to save money. One medical marijuana patient recently stated in an interview that most Ohio clinics charged double the price that dispensaries in Michigan did. Another cannabis card holder, George McClure, admitted to going to Michigan dispensaries as they were far cheaper, even after factoring in the amount he’d spend to…