NewsRoom Articles - Page 308 of 618

MondayFeb 08, 2021 4:20 am

420 with CNW — Why New Jersey Legislators Are Unwilling to Allow Patients to Grow Medical Cannabis

New Jersey legislators are currently in the process of finalizing the details of the state’s marijuana decriminalization and legalization policies. While the S3550 bill has lessened the penalties for individuals found carrying less than six ounces of marijuana, it still forbids any person from having the intent to distribute or the distribution and possession of a controlled and dangerous substance. The bill does not touch on marijuana home-cultivation, which remains criminalized. This is despite poll data from a Rutgers University 2018 poll, showing that 60% of voters in the state disagreed with a prohibition that forbade residents from cultivating their…

FridayFeb 05, 2021 4:20 pm

420 with CNW — North Carolina Cherokee Consider Medical Cannabis Legalization

The past few years have seen a surge in popularity for cannabis, with more than 30 U.S. states legalizing either medical or recreational marijuana. The shift in attitudes toward cannabis hasn’t been confined to just states. The Eastern Band of Cherokee Indians in North Carolina is preparing to explore what medical cannabis legalization would look like on the Qualla Boundary. As part of a broader legalization effort, the Tribal Council will this month discuss a plan to legalize medical marijuana. Jeremy Wilson, who formerly served on the Tribal Council in addition to working as a government affairs liaison under the…

FridayFeb 05, 2021 4:20 am

420 with CNW — Democratic Senate Leaders Publicize Plan to Legalize Cannabis Federally in 2021

Earlier this week, three leading advocates of cannabis reform stated that reform would be a priority in the new Democratic Senate in 2021, adding that they planned to release draft bills in the coming weeks to start a conversation about what federal policy changes would be made. In a joint statement, Sen. Cory Booker, Senate Committee Chairman Ron Wyden and Senate Majority Leader Chuck Schumer stated that putting an end to marijuana prohibition was necessary in order to end years of harm inflicted on people and communities of color across the nation as well as right the wrongs of the…

ThursdayFeb 04, 2021 4:20 pm

420 with CNW — Colorado Premium Cannabis Flower Causes Prices to Soar to Record Highs

For Colorado’s cannabis industry, 2020 was a boom year. While other sectors saw their operations severely cut down amid lockdown and self-distancing orders, Colorado categorized cannabis as essential, allowing marijuana businesses to continue selling with coronavirus-related measures in place. Even before transactions for November had been tallied, the state had hit $2 billion in medical and recreational cannabis sales. These record-breaking sales can partly be attributed to record high, wholesale, cannabis-bud (flower) prices that in 2020 increased to levels unseen since 2016. According to the Colorado Department of Revenue, the average market price by wholesalers for a pound of marijuana…

ThursdayFeb 04, 2021 12:10 pm

CBD Market Steadiness Buoys HempFusion Wellness Inc. (TSX: CBD.U) (OTC: CBDHF) Hopes as TSX Launch Completed

Health and wellness company HempFusion Wellness, Inc. launched its IPO Jan. 6 with the ticker CBD.U, and also trades in the US under the symbol CBDHF The company distributes its brands HempFusion, Probulin Probiotics, Biome Research and HF Labs to 4,000 retailers in every state as well as select international locales, and is strategically planning for expansion Despite the economic battering some industries have experienced as a result of the global pandemic, hemp and CBD continue to see consumer use trends holding stable with forecasts for new market growth in coming years HempFusion is focused on regulatory compliance with industry…

ThursdayFeb 04, 2021 4:20 am

420 with CNW — Schumer Says Cannabis Legalization Will Be Senate Priority

Late last year, the U.S. House of Representatives passed a historic bill that would decriminalize marijuana at the federal level and expunge nonviolent, cannabis-related convictions. Although the legislation was applauded by drug reform activists, it was almost certainly doomed in the then Republican-controlled Senate, with GOP leaders dubbing cannabis legalization a superficial distraction from COVID relief. However, now that the Democrats control both the Senate and the House, cannabis legalization may be a reality. In a recent interview with former NBA player Al Harrington who owns cannabis company Viola Brands, Senate Majority Leader Chuck Schumer discussed his support for ending…

WednesdayFeb 03, 2021 4:20 pm

420 with CNW — France to Dispense Free Medical Marijuana to Patients in New Pilot Project

Despite the fact that France’s program to supply medical marijuana to patients was postponed because of the coronavirus pandemic, the country recently released a list of firms that had won bids to supply this free cannabis. The program is scheduled to run for approximately six months, and the marijuana products to be distributed would be in form of oil and dry flower. The companies include Emmac Life Sciences, Panaxia, Tilray, Aurora Cannabis, Little Green Pharma and Althea. While the companies that were selected are not based in France, they will be working with companies that are based in France. This…

WednesdayFeb 03, 2021 3:38 pm

Grapefruit USA Inc. (GPFT) Is ‘One to Watch’

Grapefruit USA Inc. holds licensing for manufacturing and distribution in California, issued in 2018; the company is positioned as a premier distributor and manufacturer in the state, with a focus on procuring, manufacturing and distributing the highest-quality materials With cannabis legalization gaining momentum worldwide, Grapefruit is currently uniquely situated to disrupt the market through its novel and proprietary products and services The global cannabis market is expected to grow to $97.35 billion by 2026, expanding at a CAGR of 32.92% The company provides a wealth of cannabis flower and cannabis products to licensed businesses, along with various services including distribution,…

WednesdayFeb 03, 2021 3:00 pm

Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Updates Investors Following Completion of Special Warrants Private Placement

Pure Extracts recently updated investors on successful completion of second tranche of its special warrants private placement In aggregate, Company will raise gross proceeds of $8.5 million through both tranches of private placement Pure Extracts will employ net proceeds from private placement towards capacity expansion for Company’s extraction business, and for general working capital purposes Company previously revealed that it was conducting study looking into formulation, manufacturing of psilocybin-based active treatments Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on the cannabis, hemp, and functional mushroom sectors, has recently updated investors following the successful…

WednesdayFeb 03, 2021 2:24 pm

PacRoots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) Set to Thrive as Peers Face Pain of Excess Supply

PacRoots Cannabis recently updated investors following its first successful hemp harvest, which resulted in 105,000 lbs. of biomass of higher-than-expected quality Canadian cannabis market is currently awash in oversupply, with some estimates placing inventory stockpile at close to 3 years’ worth of demand Industry participants have pointed at low-quality grades as prime cause for the oversupply PacRoots has taken strides to improve quality of its plants, most notably through collaboration with Phenome One Corp PacRoots processes, sells entirety of recent harvest to the Speakeasy Cannabis Club PacRoots Cannabis (CSE: PACR) (OTCQB: PACRF), an up-and-coming cannabis company based out of Canada,…