With 10,000 Licenses Issued, California Reflects the Growing Power of Hemp

CannabisNewsWire Editorial Coverage: As hemp production increases, Californian legislators have extended the duration of thousands of cannabis cultivation licenses to support the state’s thriving industry.

Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile) is supporting many of these companies that have cultivation licenses by providing cultivation and extraction equipment. Canopy Growth Corporation (TSX: WEED) (NYSE: CGC), one of the biggest companies in the sector, is increasing its growing capacity while helping educate about medicines. Cronos Group Inc. (TSX: CRON) (NASDAQ: CRON) is leaning into new technology, with new facilities for R&D and processing. The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) (TGODF Profile) has tapped into the demand for organic produce and is now expanding into global CBD market. GW Pharmaceuticals Plc (NASDAQ: GWPH) (OTC: GWPRF) is developing powerful new medicines, in which hemp could help tackle…

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420 with CNW – Senate Could Hold Hearings on Cannabis Banking Later this Month

The Senate Banking Committee could schedule hearings on bipartisan legislation on cannabis banking in as little as two weeks. This revelation was made by the chairman of that committee, Mike Crapo (R-ID) as he talked to American Banker.

Crapo said that he was looking into the prospect of scheduling a hearing on the matter and added that the hearings will be “relatively soon.”

This statement marks a huge change of heart for the senator from Idaho who is on record saying (in April) that he wouldn’t commit his committee to holding sessions on marijuana banking as long as marijuana is still illegal at the federal level.

Banking industry insiders believe that the committee is likely to have two hearings in the week starting July 22. One hearing will be centered on hearing from the regulators of the banking sector while the second hearing will listen to the other stakeholders on this matter.

A similar bill was passed by the Congressional Banking Services Committee in March and similar language to the contents of the STATES Act was included in the appropriations bill.

While pro-cannabis advocates have been hoping that the STATES Act is put on the schedule for a vote by the entire House before the legislative chamber goes for recess in August, this hasn’t happened as yet. It now seems that a vote on the bill may have to wait until the fall.

Concerns have also been voiced about how the STATES Act would be received once it gets to a Senate that is dominated by Republicans.

Rep. Ed Perlmutter (D-CO), the chief sponsor of the House version of the bill, revealed that lawmakers are currently exploring other ways to generate Republican support for the bill. One of the avenues being explored is including language to the effect that regulators will not prevent payday lenders and gun manufacturers from accessing banking services.

Another avenue that could be used is the inclusion of language that protects the hemp industry so that Republicans don’t look at that the bill as one on just marijuana.

A senate hearing on marijuana business banking would mark another milestone for those who want to see marijuana policy reform. While the STATES Act will not alter the status of marijuana federally, it is a step in the right direction since many advocates see the incremental approach to legalization as a more realistic option when compared to the chances of a standalone bill on legalization passing in both chambers.

Industry watchers believe that the entire cannabis industry, including Cannabis Strategic Ventures Inc. (OTCQB: NUGS) and Youngevity International Inc. (NASDAQ: YGYI), will be waiting with bated breath to hear what comes out from the Senate committee hearings.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Witnesses and Lawmakers Share Views on Federal Marijuana Policy Reform Strategy

Last week, the Crime, Terrorism and Homeland Security sub-committee of the powerful House Judiciary Committee held a landmark session in which they listened to testimony from a variety of experts on how marijuana prohibition could be brought to an end federally.

This hearing was largely focused on evidence, unlike previous Congressional discussions on the matter that largely seemed to be driven by scaremongering. However, there were some disagreements regarding the strategy that should be used to legislate marijuana policy reforms.

For example, Rep. Tom McClintock (R-CA) argued that the Democrats were wrongly framing the issue along racial lines and this would divide the country. The Chairperson of the House Judiciary Committee, Jerrod Nadler, responded by saying that marijuana laws had been designed and implemented in a racially disparate manner, so the solution should also emerge after considering the racial factors involved.

Nadler added that in his own opinion, it is ill-advised to use marijuana, but that doesn’t mean the drug should be criminalized. Instead, adults should be left to make informed decisions on the substance as is the case with other substances like alcohol and cigarettes.

While testifying before the subcommittee, Malik Burnett, a physician at the Johns Hopkins Bloomberg School of Public Health said that it was wrong to have two widely different situations on the subject of marijuana. He explained that the U.S. can be divided into two, with one half made up of whites who are minting billions from state-legal marijuana while the other half of the U.S. made up of poor people, especially blacks, are arrested in their thousands for the same marijuana that whites are getting rich from.

Marilyn Mosby, the State Attorney for Baltimore also told the subcommittee that the current lopsided enforcement of marijuana laws not only worsens the existing inequalities in the U.S. justice system but also alienates the community from law enforcement agencies. No public safety benefit accrues from the enforcement of marijuana prohibition, she added. She concluded by saying that full legalization is the way to go since decriminalization of marijuana isn’t enough. Mosby’s office is noted for announcing earlier this year that they would no longer prosecute marijuana possession cases.

Davis Nathan, the president of Doctors for Cannabis Regulation (a pro-marijuana legalization group of physicians) testified that the prohibition of marijuana has done more harm than any good that was anticipated. He also said that the drug should never have been criminalized since it is less harmful than tobacco and alcohol.

There was a heated discussion regarding the way in which cannabis reform should be made to happen after Neal Levine, the CEO of Cannabis Trade Federation) suggested that the process should be incremental, starting with the passing of the STATES Act currently before lawmakers.

For example, Rep. Steve Cohen (D-TN) wondered why full legalization shouldn’t be done in one fell swoop since prohibition had lingered for far too long. Other lawmakers disagreed and preferred the cautious approach of incremental policy adjustments in order to avoid passing bills that ultimately fail once they reach the Republican-controlled Senate.

Industry pundits strongly believe that the cannabis industry, including players like Willow Biosciences Inc. (CSE: WLLW) and Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF), is hoping that concrete action follows this hearing on the modalities of ending marijuana prohibition.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Group Announces Intention to Initiate Ballot Measure to Legalize Recreational Marijuana in Arkansas

A marijuana education and advocacy group in Arkansas has announced that it plans to file two petitions with the state government so that recreational marijuana can be legalized through a ballot measure. The second petition covers the expungement of marijuana-related convictions.

Drug Policy Education Group (DPEG), the nonprofit planning the petitions, says that they had initially wanted to have both issues (legalization and expungement) in the same initiative. However, their legal advisors recommended that they submit separate petitions since it would be hard for the Attorney General to approve a petition which has a constitutional amendment within another proposed amendment.

Melissa Fults, the Executive Director of DPEG, revealed that they had been planning the petitions for more than a year but they decided to move quickly since the lawmakers seem to be moving towards making it harder for voters to effect changes to the state constitution.

Fults revealed that there was consensus among pro-medical marijuana advocates that the Medical Marijuana Commission (MMC) and the State General Assembly had deliberately delayed the launch of the medical cannabis program after voters approved a constitutional amendment in 2016. Sales started 2.5 years after the constitutional amendment, and sales totaling $2 million had so far been registered.

Fults and other advocates have been trying to see more reforms made to the existing cannabis laws. For example, they tried to expand the list of medical marijuana qualifying conditions to three times its current size but the bill failed to make it beyond committee level during the legislative session that has just ended.

The first petition, named Arkansas Adult Use Cannabis Amendment (AAUCA) seeks to give the state’s finance department, through its Alcohol and Beverage Control Division, permission to draft regulations for the recreational marijuana program (cultivation, manufacturing, testing and sales). Under the proposal, adults who are at least 21 years old will be allowed to purchase recreational marijuana in addition to having a maximum of six seedlings and six mature plants for their own use.

The second ballot petition, named the Arkansas Marijuana Expungement Amendment (AMEA), seeks to allow people who were convicted for possessing up to 16 ounces of cannabis to petition a court (which will be set up for this purpose) to be released from prison, have the conviction expunged or request for the restoration of their rights.

Under Arkansas law, any proposed petition for the passing of a new law requires signatures of at least 8 percent of the voters who participated in the most recent elections. A petition for a constitutional amendment requires 10 percent voter support to be approved for inclusion on the ballot.

The nonprofit and its supporters therefore have their work cut out if their petition is to see the light of day. Pundits think that the entire cannabis industry, including participants like VPR Brands LP (OTC: VPRB) and VIVO Cannabis, Inc. (TSX.V: VIVO) (OTCQX: VVCIF), will be rooting for the success of the initiatives since adult Arkansans will be able to enjoy the numerous benefits of the adult-use marijuana industry, such as employment.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – The Global Cannabis Market is Expected to Be Worth $66.3B by 2025

The global legal cannabis market size is predicted to reach $66.3 billion by the end of 2025. This market is expected to grow at a compounded annual growth rate (CAGR) of 23.9 percent within the years covered in the forecast. The increasing legalization of marijuana and the demand for medicinal marijuana is expected to be the key driver of this market growth.

In the coming years, the growing demand for cannabis products in the treatment of various health conditions, such as Alzheimer’s, cancer, Parkinson’s, arthritis, and several neurological conditions is expected to boost the demand for marijuana as a pharmaceutical product.

Additionally, many countries and jurisdictions have legalized marijuana either for recreational or medicinal purposes. This has had a major adverse effect on the black market of marijuana in those areas, and this is a plus for the legal industry that will see the market expand at the predicted pace. The desire for governments to earn from the legal industry is another factor that will contribute to further legalization and expansion of the marijuana market.

Regionally, the demand for marijuana products is likely to be largely driven by the huge market in the U.S. and Canada, especially for medical marijuana. In contrast, the stringent regulations and rules imposed on the cultivation and sale of medical marijuana in Europe may dampen the growth of the industry on the European continent even if markets like Germany offer great promise.

At the moment, Israel is playing a pivotal role of sharing its technological prowess and cannabis knowledge with other parts of the world. As these markets, such as Thailand the U.K, open and grow, the global market will benefit from these potentially major players in the industry.

The report also points out that in 2018, the cannabis market in the U.S. was valued at $11.9bn and it is expected to grow at a compounded annual growth rate of 24.1 percent for the duration of the forecast in the report till the end of 2025.

Cannabis buds or dried flower took the lion’s share of the global marijuana market in 2018 because it accounted for more than half of all the sales recorded in the industry. This segment is expected to grow at a CAGR of 20.6 percent during the forecast period.

Analysts strongly feel that this bullish outlook for the global marijuana industry will spur industry players like TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) and Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) to ramp up their own growth plans in order to cash in on the global growth of the industry.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Marijuana Justice Coalition Releases Statement on Principles for Ending Marijuana Prohibition

The Marijuana Justice Coalition, an entity that brings together different groups that want to see justice in all matters connected to marijuana, have released a statement in which they outline the principles that the federal government and Congress should bear in mind as they consider bringing an end to the prohibition of marijuana nationwide.

The entities which signed this statement include Human Rights Watch, Center for Law and Social Policy, Immigration Legal Resource Center, Students for Sensible Drug Policy, Center for American Progress, Drug Policy Alliance, and NORML, among others.

The group starts by remarking that marijuana prohibition has devastated people’s lives for decades, and that 600,000 people are arrested annually for marijuana-related offenses. However, people of color are disproportionately affected since their chance of being arrested quadruples the chance of a white person being arrested for marijuana possession even if the rates of using the substance don’t vary across the races.

The coalition also points out that minor marijuana possession was the fourth most cited cause for non-citizens being deported from the U.S. The coalition was disturbed that these arrests and deportations continue even when polls show that 68 percent of American voters favor an end to prohibition while 73 percent say that marijuana convictions should be sealed automatically.

The Marijuana Justice Coalition suggests seven principles that Congress should think about and include in any legislation that will bring cannabis prohibition to an end.

For example, they say that marijuana should be descheduled since retaining it in the Controlled Substances Act preserves the criminalization of marijuana and provides a basis for the continued enforcement of prohibitionist laws.

Any law passed should also include provisions that get rid of barriers to public benefits, such as housing, nutritional assistance and other benefits that people are otherwise entitled to or eligible for.

Additionally, the coalition wants to see protections from immigration action against non-citizens who use or participate in the marijuana industry once it is legalized federally. This is aimed at ending the arrests and deportations, as well the denial of entry into the U.S.

Another principle listed by the Marijuana Justice Coalition has language to the effect that a portion of the revenue generated by the federal government from the marijuana industry should be allocated to entities or units of local governments that will reinvest that money in communities or individuals most impacted by the prohibitionist laws, especially for removing the collateral harms (lack of access to education or housing loans, for example) of the war on drugs.

This statement comes at a time when a Congressional sub-committee is receiving testimony from different experts who are expected to shed light on how prohibition can be ended. Analysts opine that the entire cannabis industry, including players like The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) and The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) could be very pleased that this influential group has come out so strongly on the issues that will bring justice regarding all things marijuana.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Possession Limits Increased for New Jersey Medical Marijuana Patients

Last week, Gov. Phil Murphy signed a bill that will expand the medical marijuana program of the state. One of the notable changes in the bill is that patients who could only possess a medical cannabis supply that can last 90 days can now legally possess a year’s worth of medical marijuana supplies.

This change has been applauded by pro-marijuana advocates because it will reduce the inconveniences and costs associated with making frequent trips to a dispensary, especially for patients and caregivers will don’t stay near a provisioning center and those who have mobility challenges.

The number of medical cannabis producers has also been increased, This was in response to complaints about high product prices and a limited variety of medical marijuana products in dispensaries. It is hoped that the introduction of additional producers will make prices more competitive and it will also drive innovation so that patients have more variety to select from.

The new law also increases the number of medical conditions for which patients can qualify for medical marijuana permits, a move that analysts believe was welcome news to the entire industry including players like Sugarmade Inc. (OTCQB: SGMD) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) since a potentially bigger market was created for the medical marijuana products of the cannabis companies within the state.  In the past, only sufferers of debilitating conditions could get a medical marijuana license. With the signing of the new law, other conditions, such as post-traumatic stress disorder, chronic pain, cancer, opioid use disorder, glaucoma and epilepsy can qualify a patient to use medical marijuana.

Home delivery of medical marijuana will become a reality once this law takes effect. This is seen as making medical marijuana more accessible for people in areas that don’t have a dispensary. More jobs will also be created for those who participate in the home delivery service.

Since coming into office, Gov. Murphy has so far expanded the medical marijuana program twice. Under his administration, the number of patients has grown to 49,000 from just 15,000 during the time of his predecessor (Gov. Chris Christie). Now that more qualifying conditions have been added, the number of patients will increase even further.

While pro-marijuana advocates are happy that the medical marijuana program has been expanded, this law comes at a time when people are still disappointed that recreational marijuana wasn’t legalized as had widely been expected during the legislative session that ended recently.

The lack of sufficient support for the legalization bill in the state senate made legislative leaders to call off a vote on the bill, and frantic negotiations last month couldn’t secure the needed votes. It now appears that the issue may go to voters during the elections next year or the next midterms.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Parachute Pill Invented in Michigan to Help Those Too High on Marijuana

An inventor in Michigan has invented a pill that is aptly called “Parachute” aimed at helping anyone who realizes that they are too high on marijuana to come down from that high.

Steve Goldner, the founder of Pure Green, says that it can be dreadful when one consumes cannabis edibles and realizes when it is too late that what they have consumed has made them higher than they had intended to be. This is particularly possible since people who ingest marijuana orally take longer to notice the effects unlike those who use other modes of administration, such as smoking or using a cannabis suppository. This is because the process of digestion takes long, so the ingredients in cannabis take longer to enter the bloodstream.

Goldner therefore invented the Parachute pill in order to give users a way to quickly reverse the effects of marijuana.

This mint-flavored pill has cannabidiol (CBD) as its primary ingredient. One simply places this pill under the tongue and they will notice their high subsiding within five minutes. Goldner boasts that this sublingual administration is more user-friendly than rolling a joint, chewing a pill or administering an injection.

Steve Goldner explains that he chose this sublingual way of providing relief to those who are too high because of its quick results as well as a consideration that someone who is very high may not find it easy to execute several steps to reverse their cannabis intoxication.

This isn’t the first medical marijuana product that Goldner has brought to market. He rose to fame in the 1970s when he made liquid methadone to deal with opioid addiction. His company also makes Pure Calm, a remedy for anxiety, as well as Pure Relief, which is formulated to combat pain. All these remedies are made from hemp-derived CBD.

Goldner’s company was among the first companies to get pre-approval from the Medical Marihuana Licensing Board of Michigan in April 2018.

Goldner’s invention of the Parachute pill shows how different entrepreneurs are stepping up to provide answers to the different challenges faced by both medical and recreational users of marijuana. We have seen inhalers, tampons and other products being tested to administer marijuana in more ways so that people can have effective alternatives to smoking cannabis. As the industry matures, analysts expect players like SinglePoint Inc. (OTCQB: SING) and Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (FRA: O3X4) to tweak their offerings in order to embrace the expanded product list in the cannabis space.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Ontario Scientists Uncover Why Cannabis Seems to Affect Different Consumers Differently

Marijuana triggers a rewarding high in some people while the substance brings serious psychiatric effects when other people consume it. This contradiction in the way cannabis affects its consumers has baffled the scientific community and researchers from the University of Western Ontario in Canada appear to have uncovered the reason for this difference.

The scientists suggest that how one is affected by marijuana may depend on which part of the brain is acted upon by the substance. For some people, the highly rewarding “high” they experience after consuming marijuana can increase their likelihood of becoming addicted to cannabis. For others, the consumption of cannabis can result in paranoia, schizophrenia and other cognitive problems.

The study done on rodents reveals the different regions of the brain which account for these different effects of taking marijuana.

The scientists discovered that the THC in marijuana triggers highly rewarding effects when it reaches the front part of the nucleus accumbens, a region found at the front of the brain. Furthermore, the research showed that once THC reaches this part of the brain, it magnifies the reward-related activity of the brain neurons in the area thereby amplifying the addictive attributes of opioids like morphine.

In contrast, if THC gets to the posterior of the region of the brain referred to earlier (the nucleus accumbens), highly adverse effects result. These effects are typically similar to what is observed in people who have schizophrenia-like behavioral, cognitive and neural activity.

Christopher Norris, PhD, one of the lead authors of the study, explains that the findings above are very important because they provide valuable insights to explain why the experience of some people is positive when they use marijuana while others have a negative experience after using the same strain or amount of marijuana in the same consumption method.

The scientists go on to suggest that since the reward or aversion comes from different parts of the brain, the individuals who experience one of these two distinct effects seem to be genetically predisposed to have different regions of their nucleus accumbens affected by the THC in marijuana. If the sensitivity of the different parts of the nucleus accumbens is determined by genetics, then marijuana users can forestall future issues by refraining or reducing their use of the substance if they notice that they experience adverse effects each time they use cannabis.

These findings have analysts wondering whether industry players like Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Organigram Holdings Inc. (TSX.V: OGI) (NASDAQ: OGI) may consider developing methods to help people know whether they are likely to experience positive or adverse effects after using cannabis.

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Cannabis Companies Seek Strong Strategies to Meet Growing Demand

CannabisNewsWire Editorial Coverage: With demand outstripping supply, successful cannabis companies are following smart core strategies and reporting strong revenues.

Golden Developing Solutions Inc. (OTC: DVLP) (DVLP Profile) has used a mix of acquisitions, diverse brands and products, and increased production footprint to meet customer demand and report significant revenue increases, including its strongest second-quarter numbers ever. Industry giant Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) has followed a similar path, though some change may follow the recent departure of its co-CEO. Tilray Inc. (NASDAQ: TLRY) has invested heavily in increasing production while reaching into new markets such as the United Kingdom. Medmen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) and Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) have both shown the potential for growing…

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