NewsRoom Articles - Page 2 of 421

TuesdayMay 24, 2022 4:20 pm

420 with CNW — Marijuana Product Sampling Grows Despite Pandemic, Legal Obstacles

CPG professionals have long known that one sure way to get your target market to buy a new product is by first giving those people a free sample. The samples provide members of the public with an easy way to try something new without risking anything. Samples are also bait for retail outlets, so it isn’t surprising that several companies in the marijuana industry are finding creative ways to use this marketing approach. Considering that store sales can be boosted by a jaw-dropping 2,000% and more than 33% of shoppers who receive a sample buy that product within the same…

TuesdayMay 24, 2022 12:00 pm

The Flagship CWCBExpo of the New York Cannabis Week to be Held June 2-4; Will Foster Relationships Among Hundreds of Business Leaders from Across the Cannabis Ecosystem

The Cannabis World Congress & Business Exposition (“CWCBExpo”) will be held in New York City between June 2-4, 2022 The conference will feature dozens of expert speakers with expertise in developing brands, increasing efficiencies, and investments Hundreds of exhibitors and leading cannabis businesses will showcase cutting-edge product innovations In 2021, revenue from licensed marijuana of $24.5bn – $27bn in the United States eclipsed Starbucks sales throughout North America The Cannabis World Congress & Business Exposition (“CWCBExpo”) event will be held at New York City’s Javits Convention Center, Hall 3A on June 2-4, 2022. As the flagship event during Cannabis Week, a platform…

TuesdayMay 24, 2022 4:20 am

420 with CNW — Congressman Optimistic About Cannabis Banking Reform Inclusion in Manufacturing Bill

During a press briefing earlier this week, Rep. Earl Blumenauer revealed that he was optimistic about the possibility of including cannabis banking reforms in the final version of the large-scale manufacturing bill that will soon be signed into law. The Congressman has championed for marijuana legalization for a while now and is currently involved in negotiations on the America COMPETES Act. During the briefing, the Congressman stated that there was a joint effort among conferees in both chambers to ensure that the SAFE Banking Act, which was approved by the House, was attached to the final conference report that is…

MondayMay 23, 2022 4:20 pm

420 with CNW — DOJ Urges US Supreme Court to Reject Cannabis Case

The U.S. Department of Justice has asked the U.S. Supreme Court to decline taking up a lawsuit regarding claims for medical marijuana treatment reimbursement for injured employees. A section of the arguments given by the DOJ for its recommendation include a statement that the federal legislature is moving to resolve the conflict between federal marijuana law and state law. The specific question put before the Supreme Court arises from two cases in Minnesota. In both cases, employees wanted compensation after being injured at work. For both of these cases, the supreme court of Minnesota decided that the law at the…

MondayMay 23, 2022 9:00 am

Flora Growth Corp. (NASDAQ: FLGC) Year-end Report Shows Significant Revenue and Profit Growth, with Expectations for Further Rapid Growth in 2022

Cannabis cultivator and distributor Flora Growth has announced its annual financial and operating results, showing “significantly higher” revenues and profit gain for 2021 over the previous year Flora maintains an outlook for 2022 of an additional 288 to 400 percent revenue growth by year end, largely driven by the company’s acquisition of consumer wellness brand JustCBD The JustCBD acquisition increased Flora’s reach to more than half a million consumers through 14,000 retail stores in the United States Flora’s operations are centered at its Cosechemos cultivation facility in central Colombia, where the company enjoys ideal growing conditions year-round and has easy…

MondayMay 23, 2022 4:20 am

420 with CNW — US Marijuana Sales in 2021 Exceed Those of Starbucks

People in North America have grown to expect to see a Starbucks outlet almost on every street corner. However, available information on cannabis sales suggests that marijuana could overthrow this coffee giant as legal sales of marijuana exceeded those recorded by Starbucks by a wide margin. This is no small feat by the marijuana industry, given the fact that only 39 of all the states in the U.S. have legalized marijuana in some form, either for medicinal or/and for recreational purposes. In contrast, Starbucks has been around since the early ‘70s, and coffee has always been legal, while the legal…

FridayMay 20, 2022 4:20 pm

420 with CNW — Governor Newsom Proposes Cannabis Tax Cuts to Combat California’s Illicit Market

Last week, Gov. Gavin Newsom of California unveiled a modified budget proposal whose approval would revise the state’s marijuana tax revenue allocations and eliminate the state’s cannabis cultivation tax. The governor’s announcement comes just months after officials in the state announced that California had allocated $100 million in funding for the development of local cannabis markets, which would involve getting marijuana businesses fully licensed. Newsom’s plan will maintain the 15% excise tax rate on cannabis sales and shift the point of collection and remittance for excise tax to retail from distribution, effective Jan. 1, 2023. This updated budget will also…

FridayMay 20, 2022 4:20 am

420 with CNW — Poll Finds That Majority of Biden Voters Support Federal Cannabis Legalization

A new poll has discovered that a majority of people in America support letting states set their own marijuana policies, including the legalization of cannabis. The YouGov poll found that 7 in every 10 individuals who voted to elect President Joseph Biden support the nationwide legalization of cannabis, despite Biden’s opposition to the change in policy. This survey emphasizes how unpopular cannabis prohibition is in the United States, with none of the demographics surveyed showing majority support for federal marijuana prohibition. The survey found that 25% of respondents felt that states needed to be able to decide whether or not…

ThursdayMay 19, 2022 4:20 pm

420 with CNW — Congressional Legislators Voice Support for Cannabis Banking

A bicameral conference charged with negotiating the final text of a large-scale bill intended to make the U.S. competitive against China saw many conferees express support for including cannabis banking language in the manufacturing bill. This was during the first sitting of the conference. At least half a dozen conferees took to the floor to mention the marijuana banking issue when debate on the manufacturing bill started. The majority of these members spoke in support of including the banking bill in the final document agreed upon during the conference. For example, Rep. Earl Blumenauer from Oregon stated that several overdue…

ThursdayMay 19, 2022 9:45 am

Flora Growth Corp. (NASDAQ: FLGC), A Company Revolutionizing the Plant-Based Wellness and Lifestyle Industry

Flora Growth has been building a design-led collective of plant-based wellness and lifestyle brands Through the work done by its pharma division, the company earned over $31.5 million in gross proceeds in the year ended November 2021 The company still maintains its revenue guidance projection of $35-45 million for 2022, attributed mainly to product diversification initiatives, strengthening its supply chain, and adoption of cost-effective cultivation practices Since its inception, Flora Growth (NASDAQ: FLGC) has remained committed to building a design-led collective of plant-based wellness and lifestyle brands. This objective has defined Flora Growth’s three central pillars- wholesale cannabis, pharmaceutical cannabis,…

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