NewsRoom Articles - Page 222 of 596

TuesdayNov 02, 2021 12:59 pm

Cannabis Strategic Ventures Inc. (NUGS) Is ‘One to Watch’

Cannabis Strategic Ventures’ 2020 revenue jumped 517% year-over-year to $14.6 million 2020 revenues from cannabis sales were $14.1 million, up 975% compared to fiscal 2019 The company’s gross profit spiked 483% year-over-year, reaching $2.78 million in 2020, while gross margins held steady at about 20 percent Cannabis Strategic Ventures will launch its first Los Angeles dispensary in Q4 2021 The company will open an indoor cultivation facility with capacity to produce up to 15,000 pounds of premium cannabis flower annually Cannabis Strategic Ventures (OTC: NUGS) is an emerging leader in the U.S. cannabis marketplace as a publicly traded cannabis cultivator.…

TuesdayNov 02, 2021 4:20 am

420 with CNW — New York Cannabis Regulators to Allow Patients to Grow Medical Cannabis

The Cannabis Control Board in the state of New York has voted to allow medical marijuana patients to grow marijuana for personal use. The cannabis regulators plan to file the proposed regulations, which will permit patients who meet the criteria to grow up to six plants, either outdoors or indoors, for their own therapeutic use. Once the regulations have been published, the public will be afforded a 60-day comment period. After this, the board will review these comments and make any amendments they deem necessary, after which the regulations will be filed officially in order to take effect. The chair…

MondayNov 01, 2021 4:20 pm

420 with CNW — NIDA Tells Congress Drug Scheduling Is Hindering Cannabis Research

Marijuana’s federal classification as a Schedule I controlled substance has consistently been a thorn in the plant’s side, especially as more states have chosen to legalize it in various capacities. With the drug more accessible to the public than it has ever been thanks to state cannabis reform, a growing number of people have been using cannabis either medically or recreationally. As cannabis becomes even more popular among the masses, most experts agree that the hype around it and its purported medical abilities has far outpaced the science and that more research on marijuana’s potential benefits and risks is needed.…

MondayNov 01, 2021 1:49 pm

Successful Ginkgo Bioworks SPAC IPO Highlights Available Industry Opportunities for InMed Pharmaceuticals Inc. (NASDAQ: INM) and Synthetic Cannabinoid Production

Special purpose acquisition company Soaring Eagle Acquisition Corp. combined with Ginkgo Bioworks to form publicly listed Ginkgo Bioworks Holdings Inc., in what is the largest-ever biotechnology go-public transaction Ginkgo Bioworks is known for its work in the commercial-scale production of a rare cannabinoid, CBG, for use in a multitude of industrial needs InMed uses multiple manufacturing approaches to synthetically produce rare cannabinoids, including CBC which is currently sold through its subsidiary BayMedica The success of the Ginkgo IPO suggests the marketplace value associated with the production of rare cannabinoids Special purpose acquisition company (“SPAC”) Soaring Eagle Acquisition Corp. (NASDAQ: SRNGU,…

MondayNov 01, 2021 11:49 am

The Cannabis World Congress & Business Exposition (‘CWCBExpo’) Establishes Itself as a Key Forum for Establishing a Foothold Within New York’s Burgeoning Cannabis Sector

New York’s recreational marijuana market is poised to begin with a bang — and the Cannabis World Congress & Business Exposition (“CWCBExpo”), which is being held at New York City’s Javits Convention Center, Hall 3A between 4-6 November 2021, is the ideal forum for education, business building and networking on this multifaceted industry. As of Sept. 21, 2021, adult New Yorkers are now able to possess up to three ounces of cannabis for recreational use or up to 24 grams of concentrated cannabis, such as oils derived from a cannabis plant (https://cnw.fm/1gF1p). With the state’s cannabis industry expected to begin…

MondayNov 01, 2021 4:20 am

420 with CNW — Real Estate Survey Shows Proximity to Marijuana Firms Is Attractive

In just a few short years, marijuana reform legislation has had a major impact. The nascent industry has created thousands of new jobs, generated billions of dollars in revenue and filled state coffers with millions in tax money. With every passing day, attitudes on the controversial plant are evolving and changing, undoing the damage done by decades of federal prohibition little by little. That was very evident when most states with legal cannabis markets declared it essential and went to great lengths to ensure people still had access to their medical marijuana, especially immunocompromised individuals who had no choice but…

FridayOct 29, 2021 4:20 pm

420 with CNW — FDA to Use Reddit to Gather Information on CBD, Other Cannabinoids

The Food and Drug Administration (“FDA”) recently announced that it planned to use different sources of data such as Reddit to better understand public health issues surrounding the use of cannabis derivatives, including delta-8 THC and CBD. In its published report, the FDA explained that it needed information about the potential adverse events and safety issues associated with FDA-regulated products, which include cannabis-derived products, commonly referred to as CDPs. The agency also revealed that it needed data on the general patterns of emerging trends and product use so that it could deploy its limited resources effectively and quickly. This comes…

FridayOct 29, 2021 1:48 pm

Flora Growth (FLGC) Receives Global Medical Cannabis Certification, Launches New CBD Brand

Flora Growth Corp. is an international cannabis consumer packaged goods distributor and cultivator based in Colombia that has built an ecosystem that will support market-leading innovation within categories that matter most to consumers exploring plant-based consumer goods. The company recently obtained the Good Agricultural and Collection Practices (“GACP”) certification from international certification agency and global leader in medical cannabis certification Control Union Medical Cannabis Standard (“CUMCS”) Flora Growth also just announced the launch of a new brand named Munzhi that will initially provide 12 CBD products for wellness, hair, body, and face benefits Flora Growth’s Colombian operations are already producing…

FridayOct 29, 2021 11:33 am

Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Makes Strategic Additions to its Leadership; Completes Platinum Vape Management Transition

RWB appointed Chris Ecken as the new CFO effective October 2021 Ecken will lend over 25 years of experience from the alcohol beverage industry, helping RWB to shape sustainable long-term growth RWB also announced Colby De Zen’s appointment to its board of directors He will be integral to RWB’s move to close critical assets in Michigan and expedite expansions in Florida, California, Arizona, Illinois, Massachusetts and Oklahoma RWB also completed Platinum Vape LLC. (“PV”) management transition, with the addition of Shea Alderete, Joaquin Rodriguez and Craig Rosevear to its management RWB plans to bank on growing demand in Michigan and…

FridayOct 29, 2021 4:20 am

420 with CNW — Top IRS Official Reveals Cannabis Banking Reform Can Ease Tax Organization’s Work

Marijuana businesses have been unable to access financial services such as deposit accounts, cashless payments and loans since legal sales began in America. This is mostly due to the controversial plant's classification as a Schedule I controlled drug, and it has had wide-ranging consequences on both cannabis businesses and federal authorities. Players in the cannabis space are forced to transact on a cash-only basis, increasing their chances of robberies and making it difficult to account for and pay taxes. Furthermore, federal authorities, the IRS specifically, don't often receive taxes that are due, and when they do, it is usually in…

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