May 2021 - CannabisNewsWire

FridayMay 28, 2021 4:20 pm

420 with CNW — New Study Suggests CBD Could Reduce Consumption of Alcohol

Cannabidiol (“CBD”) is one of more than 100 chemical compounds called cannabinoids, which are produced in the cannabis family. You've probably heard of THC (delta-9 tetrahydrocannabinol), the main psychoactive component responsible for cannabis' intoxicating effects. CBD, on the other hand, is not psychoactive, although studies have found that this cannabinoid is capable of alleviating a variety of medical conditions. While the research behind CBD's medical claims is limited, initial results have been quite promising, which has led to increased scientific interest in CBD's abilities. One of the more recent studies has uncovered something that could have wide-ranging implications for millions…

FridayMay 28, 2021 9:00 am

Hero Technologies Inc. (HENC) Subsidiary Eyeing Million-Dollar Numbers in Michigan Cannabis Sector

Cannabis sales numbers in Michigan reaching record highs HENC, Blackbox strategy includes developing 120-acre Michigan farmland into cannabis cultivation Cannabis medicinal and recreational sales numbers in Michigan are reaching record highs: year-end totals for 2020 approached $1 billion (https://cnw.fm/BylLX), and sales in 2021 have shown even more impressive growth, with March numbers hitting a record $115.4 million (https://cnw.fm/rlOo0) and April numbers approaching $154 million (https://cnw.fm/qFiFH). Cannabis company Hero Technologies (OTC: HENC) is paying close attention to Michigan’s performance because the company’s majority-owned subsidiary, BlackBox Systems and Technologies LLC, earlier this year signed a purchase agreement to acquire 120 acres of Michigan…

FridayMay 28, 2021 4:20 am

420 with CNW — A Brief Analysis of Colorado’s Cannabis Tax Revenue

In the year 2012, voters in the state of Colorado legalized adult-use cannabis and approved Amendment 64, which made it the first state in the country to have a legal recreational cannabis market. Since then, Colorado has made more than $10 billion in total cannabis sales. In 2020, while other industries suffered at the hands of the coronavirus pandemic, cannabis sales increased significantly in the state. In January this year, cannabis sales topped $180 million, which set a new record. In the last six years, the state has collected more than $1.5 billion in fee revenues and cannabis taxes. This…

ThursdayMay 27, 2021 4:20 pm

420 with CNW — Cannabis Prohibition Costs $53 Billion Annually in the US

When it was first initiated, the war on drugs had relatively noble goals: to eliminate the production, distribution, and consumption of psychoactive drugs, consequently reducing the number of people addicted to these drugs and stripping the criminal enterprises behind the drug trade of their resources. However, decades after former President Nixon declared the infamous war on drugs, the drug war is considered an unmitigated failure by most. Not only has it failed to curb drug use in the country and barely put a dent in the illicit drug trade, but it also has sent countless millions to prison for relatively…

ThursdayMay 27, 2021 11:43 am

Chalice Brands Ltd. (CSE: CHAL) (OTCQB: GLDFF) Acquisition Strengthens Company’s Footprint in Leading Cannabis Market

CHAL finalizes acquisition of five HomeGrown retail dispensaries Strategic move provides exceptional geographic compatibility with Chalice The fact that Homegrown is profitable makes this a highly accretive acquisition for GLDFF’s earnings per share In a state that is paving the way forward for cannabis, Chalice Brands (CSE: CHAL) (OTCQB: GLDFF), previously operating under the name Golden Leaf Holdings Ltd., is making its mark. The company recently announced a transformational acquisition that brings a chain of five Oregon-based retail dispensaries under the Chalice umbrella (https://cnw.fm/weqA4). The dispensaries, previously owned by SMS Ventures LLC, known as Homegrown, are located in Portland, Salem…

ThursdayMay 27, 2021 9:00 am

Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) (FSE: 4XM) Builds Reputation for Quality Among Increasing Cannabis Interest

Stars are making bold statements about cannabis acceptance, efficacy as they enter cannabis business Lofty product claims may be seen as marketing ploys, but experts say there can be wellness benefits PACR’s strong focus, dedication differentiates it from other cannabis offerings, even those from big-name players in the cannabis space A growing number of celebrities are throwing their weight behind cannabis, an undeniable indication of the increasing acceptance of the compound — both as a medical and recreational option. A recent “USA Today” article notes that as more states legalize marijuana, more eyes are turning toward the industry, a trend that…

ThursdayMay 27, 2021 4:20 am

420 with CNW — Jerrold Nadler Could File Revised MORE Act ‘Very Soon’

For the past couple of years, the cannabis industry in the United States has been slowly but surely gathering steam. More than 30 states have legalized marijuana for either medical or recreational use, with the state-legal cannabis industry employing thousands of Americans and providing states with millions of dollars in much-needed tax revenue. However, cannabis advocates have always had their eyes on legislation that would decriminalize the controversial drug at the federal level, and with Democrats controlling the Senate, House and White House, their dream may soon become a reality. According to Marijuana Moment, a key chairperson may be planning…

WednesdayMay 26, 2021 4:20 pm

420 with CNW — Study to Survey Health-Care Workers, Obtain Input on Medical Marijuana

A study that will involve acquiring input on healthcare workers’ experience with medical marijuana and advice on the same was recently announced. The study, which will involve experts from the University of Massachusetts’ Dartmouth Charlton College of Business, Medicinal Genomics and the Cannabis Center of Excellence Inc. (“CCOE”) will focus on health-care workers in both Canada and the United States. The study will gather information on the experiences of health-care providers with medical marijuana in their practices and the interest they may have in future clinical education associated with medical marijuana. Cannabis Center of Excellence Inc. president Dr. Marion McNabb highlighted…

WednesdayMay 26, 2021 4:20 am

420 with CNW — Missouri Court Rules That Medical Cannabis License Applications Aren’t Secret

Medical marijuana license applicants in Missouri were offered a much-needed reprieve after an appeals court ruled that state regulators cannot keep information from medical cannabis applications secret. In 2018, voters approved a constitutional amendment that legalized medical marijuana, making Missouri the 33rd state to legalize medical cannabis. Soon after, hundreds of business owners who saw a solid business opportunity applied for business licenses for everything from growing and distributing to selling cannabis, and chaos soon ensued. More than 820 companies were denied licenses. Those companies asked an administrative hearing commission to look into the scoring system used to score candidates,…

TuesdayMay 25, 2021 4:20 pm

420 with CNW — Worldwide Increases in Lumber Prices Could Boost the Hemp Industry

Talk about construction and you inevitably end up talking about lumber. Lumber has for long been a popular and essential construction material, with concrete taking pole position on the most popular material list. Everything from houses, bridges and even wagons have been fashioned out of wood, and each culture has its own unique products made from wood. However, all that is now being threatened by the skyrocketing price of lumber, and hemp may come to the rescue. Visit any lumberyard to buy pieces of timber, and chances are you will suffer a case of sticker shock. Using data from NASDAQ…