NewsRoom Articles - Page 363 of 609

ThursdayFeb 27, 2020 4:20 am

420 with CNW – First Month of Illinois Recreational Pot Sales Earn the State $10M in Taxes

The first month of legal recreational marijuana sales in Illinois raked in more than $10 million in sales tax. The Department of Revenue in Illinois said that the legal sales were so strong such that they expect to surpass their original and conservative estimate for the first half year of sales. They are optimistic that they are going to collect more than $28 million from taxes on marijuana sales within the first six months of adult-use marijuana sales. Despite the shortages that plagued the state during the first month of legal sales, the state said that the retailers sold $40…

WednesdayFeb 26, 2020 4:20 pm

420 with CNW – Survey Shows More Older Adults Are Embracing Marijuana

Data from a new study shows that more older adults are using one or more marijuana product, but their doctors are not ready to discuss marijuana use with this demographic. The new study findings published in JAMA Internal Medicine showed an increase in the percentage of adults above the age of 65 who said that they had consumed some form of marijuana within the past year. The increase was 75% higher in 2018 than it was in 2015; 4.2 % of the adults said that they had used marijuana in the past year. Marijuana consumption among the older generation has…

WednesdayFeb 26, 2020 12:55 pm

NECANN Boston 2020 to Put the Future of Cannabis on Display Next Month

When NECANN Boston 2020 kicks off this spring, the Bay State will play host to the largest gathering in its flourishing cannabis industry. Set for March 20-22, 2020, at the Hynes Convention Center in Boston, the event is designed to cultivate collaboration in the East Coast’s medical and recreational cannabis sectors. NECANN takes a collaborative approach to its conventions, and this has resulted in consistently high ROI for exhibitors and sponsors. This year, more than 10,000 industry professionals are expected to attend, leading organizers to hail NECANN Boston 2020 as ‘The East Coast’s largest cannabis industry event’. NECANN Boston 2020…

WednesdayFeb 26, 2020 10:44 am

The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) Signs Landmark Sales Agreement with Leading Cannabis Distributor

SPRWF partners with humble+fume to offer complete cannabis solution to cannabis retailers Agreement achieves coast-to-coast coverage with 14 sales professionals managing relationships at a store level Supreme Cannabis accelerate revenue generation with plan to introduce new consumer-facing brands at all key price points Across Canada, a growing number of retail stores are opening as more and more cannabis consumers are opting to purchase cannabis products in store where they can view products and benefit from budtender recommendations. With this in mind, The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), a company dedicated to growing the world’s best…

WednesdayFeb 26, 2020 4:20 am

420 with CNW – Michigan Sees 29% Sales Growth for Recreational Marijuana in January

A statistical report on marijuana is published every month, and Michigan has released its report for the month of January. The report shows that in the month of January, adult-use marijuana sales in the state continued to grow at a steady pace. In January, adult-use sales rose to $9.8 million while previously in the month of December, the sales were $7 million. Michigan launched recreational sales of marijuana on December 1. For the month of January, the state will collect approximately $1.63 million in adult-use marijuana tax proceeds. Excise tax, which is 10%, accounts for $980,000 and $646,800 in sales…

TuesdayFeb 25, 2020 4:20 pm

420 with CNW – Consumers Seem to Be Gravitating Toward Cheap Marijuana, for Now

Marijuana consumers are considering their wallets when purchasing weed, and all they want is cheap marijuana with high THC content. In the past few years, several marijuana companies have developed high-quality, premium products, and these products are displayed on dispensary shelves. The companies believed that marijuana consumers would prefer luxurious marijuana products, just like the way beer consumers gravitate toward craft beer and aged whiskey in the spirits industry. The older generation and newbies are most likely to buy top-of-the-line marijuana to ease their concerns about the new world of cannabis, the companies thought. Some of the marijuana companies thought…

TuesdayFeb 25, 2020 12:19 pm

MCTC Holdings Inc. (MCTC) to Strengthen Financial and Strategic Planning Focus After Appointing Cannabis Industry Veteran as New CFO

The company has filed six patents on hemp extract technologies and delivery systems Expanding on development of infusion technologies to include exotic cannabinoids that may improve sleep and control appetite Industrial hemp market is expected to grow to $26.6 billion by 2025 Hemp infusion technology innovator MCTC Holdings Inc. (OTC: MCTC) appointed cannabis industry veteran Robert L. Hymers III as its chief financial officer. Previously a director of the company, Hymers has a vast and impressive background in financial planning and analysis, corporate finance, treasury, tax, investor relations, risk management, and strategic planning, according to a company press release (http://cnw.fm/s0oOE).…

TuesdayFeb 25, 2020 11:53 am

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Enhances Cannabis Products’ Shelf-Life Potency, Addressing Industry Distribution Challenges

Many cannabis companies have struggled with declining investor interest amid product delivery shortfalls and adverse revenue reports The distribution obstacles have exacerbated company concerns by creating choking points for inventory, which can quickly lose potency in storage Lexaria Bioscience’s trademarked DehydraTECH powder-creating technology helps preserve cannabinoid effectiveness and extend storage potential 2 to 3 years The DehydraTECH platform also provides a key benefit in making cannabinoids, nicotine, NSAIDs and other drug products bioavailable as rapidly as inhaled products An alternative to inhaled smokes and vapes could provide health and wellness benefits to consumers by eliminating harm to users’ lungs Lexaria’s…

TuesdayFeb 25, 2020 11:21 am

Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Planning Brand Portfolio Expansion; Focusing on Two New Categories

PLUS targets new consumer demographics as it eyes wellness/relief and get-high, have-fun spaces Company has established reputation for providing top-selling, quality edibles In the wake of a cannabis competitor losing its license, hemp and cannabis food company Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) is reiterating its commitment to quality production as it gears up to launch a new line of products to supplement its already top-selling edibles. PLUS has announced plans to expand its brand portfolio in Q1 2020 as the cannabis-savvy company targets consumers outside of its core demographic (http://cnw.fm/7AcMk). Plus Products’ commitment to quality is particularly meaningful following…

TuesdayFeb 25, 2020 4:20 am

420 with CNW – Kentucky House Passes Medical Cannabis Legalization Bill

On Thursday, the Kentucky House of Representatives passed legislation legalizing medical marijuana within the state. This comes after the Judiciary Committee voted in the bill last week in a vote of 65-30. The Legislation now proceeds to the state Senate. If the legislation is enacted into law, patients will be in a position to access medical marijuana from licensed dispensaries, but only after the patients have been certified as suffering from a condition found on the list of qualifying conditions. The legislation would also establish a body to develop rules to govern the program and determine the various medical conditions…