420 with CNW – New Tax Plan Injects Life into New Jersey Marijuana Legalization Debate

A stalemate had developed between the Senate President and the Governor of New Jersey regarding how the marijuana industry will be taxed once an appropriate law is passed. However, a new plan has reignited the legalization debate and a compromise may be reached to move forward on this long-awaited matter.

Previously, Stephen Sweeney (the Senate President) had dug his heels in that he would not go along with any marijuana legalization law that set the tax rate at more than 12 percent. Meanwhile, the Governor (Phil Murphy) was adamant that the tax rate should be in the region of 25 percent.

The disagreement between these two influential leaders had driven the legalization debate to a standstill and there seemed to be no hope for a way out of that stalemate.

Now a new proposal to tax marijuana products by weight rather than by each item sold appears to be providing the much needed compromise between the two parties. While there are disagreements on various issues, the different opinions on tax matters were the biggest bone of contention between the lawmakers and the Governor.

Proponents of the new tax proposal see that plan as beneficial in two major ways. The first, as already mentioned, is to build consensus between the two sides on the tax rate.

Secondly, taxing marijuana by weight has the added long-term benefit of protecting the state’s tax revenue from the effects of marijuana price fluctuations.

You see, in states where marijuana taxes are based on the sales made (excise tax), falling marijuana prices have caused tax revenues to take a hit.

For example, Colorado reported in 2018 that marijuana prices had fallen by approximately 70 percent from what they were in 2014 when recreational cannabis was legalized.

Such a huge drop in prices can cause serious funding shortfalls for states where an excise duty is imposed on all marijuana products sold.

The plan to tax cannabis by weight shields the state from such tax income drops since the taxes collected will stay the same regardless of which trend marijuana prices take. As historical data shows, prices inevitably go down as more players enter the industry and new production methods cut costs for cultivators.

Taxing marijuana by weight may therefore be a masterstroke that gets legalization back on track while also ensuring that the state will have a sustainable source of revenue. Such win-win solutions are what everyone in the industry, including Earth Science Tech, Inc. (OTCQB: ETST) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF), wants for all jurisdictions where marijuana is legalized.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Four Issues New York Needs to Agree Upon Before Legalizing Recreational Cannabis

While Gov. Andrew Cuomo says that a law legalizing recreational marijuana is likely to be passed this year, legislators still have a lot to do before the details of what form legalization will take shape up. The following issues are some of the sticking points that are likely to generate a lot of debate as a law is finalized.

What Role Will Local Governments Play?

You cannot think about legalizing adult-use marijuana without considering how to factor in local governments. It isn’t yet clear whether the law that will be passed will give local authorities any power to accept or refuse recreational cannabis businesses in their jurisdiction. California granted local authorities the right to determine whether retail outlets will operate in their jurisdictions or not.

However, Massachusetts took a different approach and centralized the issuance of retail licenses. Either approach has its own pros and cons. For example, California licensed hundreds of retail outlets while only a handful are so far open in Massachusetts. So, which direction will New York take on this matter?

How Much Tax Will Be Imposed?

The issue of taxes is a major one because taxes are one of the reasons why proponents have been advocating for the legalization of recreational pot across the U.S. However, it is hard to build consensus on what rate should be used to tax recreational marijuana.

While a low rate is attractive and can pile pressure on the black market, it has the downside of potentially failing to raise sufficient revenues to meet the cost of regulating the industry as well as fund other state priorities, such as rebuilding the aging infrastructure.

Conversely, a high tax rate has the potential of generating the target revenues for the state, but will buyers play along? Price-sensitive consumers may find it easier to drive to nearby states for more affordable cannabis, or they may opt for the black market. Then, where will the tax money be spent? Opinions abound on this matter as well.

How Will the Market Be Regulated?

Numerous proposals have been fronted regarding how or more specifically who should oversee the recreational marijuana industry. Some people think that the Department of Health should be in charge since it is already handling medical cannabis. Others are of the opinion that a new body should be built from the ground up just for the recreational market.

Which way this debate finally goes may determine how soon New Yorkers can legally buy recreational marijuana within the state.

Where Will the Cannabis Be Consumed?

It is also not yet clear where and how the recreational cannabis will be consumed. For example, will it be acceptable for adults to smoke a joint in public, or will they be restricted to doing so in the privacy of their homes? Will cannabis cafes similar to what is in Amsterdam be permitted in New York? Will edibles and concentrates be legal as well, or these will be addressed later?

As you can see, the legislators have their work cut out. New Yorkers, and industry players like Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) as well as ChineseInvestors.com (OTCQB: CIIX) hope that a speedy resolution to all the sticky questions is found so that New Yorkers don’t have to wait for too long before they can access marijuana legally.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Want to Make Money in 2019? Think About These 3 Cannabis Trends

As the year comes to an end, many investors are evaluating their portfolios and are planning how to reallocate funds from losing investments to other avenues where the earning potential is higher. If you plan to make money from the cannabis industry, read on and discover the three trends that you can consider as you make your 2019 investment allocations.

Think Small

Seasoned investors know that the worst time to acquire interests in an entity is when the price is at its peak, because that means that a market correction will soon happen and latecomers will lose out.

Similarly, people who are planning to invest in the marijuana industry need to move away from the large-cap companies and examine the small-cap companies. There is logic in this approach because many of the large-cap entities are most likely to have partnered with a large entity in the past year (2018), so their shares are likely to have hit an all-time high.

Instead, think of smaller companies, such as those valued at less than a billion dollars. Such companies may have better prospects going forward because you will be positioned to get a slice of any gains they make when big players come knocking to acquire a stake in those companies.

However, you also need to be cautious and avoid very small companies, such as those valued at less than $200 million because the long-term survival of those companies may not be certain as yet.

Look to Auxiliary Companies

It may also be a smart move for investors to put some money in companies that complement the companies involved with the cannabis plant directly. For example, a good place to start would be the companies that provide packaging materials to the cannabis industry. These auxiliary companies are a good investment choice because they will grow as the industry grows, and they often have a foot in other industries, so they are a smaller risk when compared to the companies which “touch the plant.”

Slot CBD In

Cannabis drinks are likely to take the world by storm, and many of them will not cause a high. That means investing in a company that has interests in CBD (from industrial hemp, for example) may line your pockets as the popularity of CBD oils and drinks reaches feverish level in the years to come. Current trends point in this direction, especially after hemp was legalized by the federal government and more states are legalizing either medical or adult-use cannabis.

As always, do your due diligence before making an investment decision. You can start by watching the journey of Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and ChineseInvestors.com, Inc. (OTCQB: CIIX) in order to get an idea of the historical trends for cannabis companies, and then branch out in the direction that you think holds most promise to you as an investor.

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Nebraska May Vote on Medical Cannabis in 2020

Two legislators in Nebraska have announced plans to put medical marijuana on the ballot in 2020 if lawmakers don’t pass a medical marijuana law in the session due to begin in January 2019.

State Senators Adam Morfeld and Anna Wishart announced that they had formed a group, Nebraskans for Sensible Marijuana Laws, to campaign and gather signatures for a ballot measure on medical marijuana.

The two legislators from Lincoln said that their campaign would be similar to what forced the issue in Utah, Oklahoma and Missouri during the recent midterm elections.

Wishart said that they were forced to register this committee after being frustrated by the inaction of the legislative arm in recent times.

The legislature in Nebraska is nonpartisan, but it is dominated by Republicans. Recent attempts to legalize medical cannabis have been blocked by these Republicans who cite different reasons for their actions.

First, they claimed that legalizing medical cannabis is a ruse to allow recreational use in the state. Secondly, some claimed that the medicinal benefits of cannabis are unproven, so there is no reason to pass enabling legislation over unsubstantiated claims.

Attorney General Doug Peterson and Governor Pete Ricketts are also opposed to the legalization of medical cannabis. That notwithstanding, Wishart plans to table another bill in the coming session as a final step before she calls on voters to have their say if the legislature blocks her bill.

This will not be the first time that voters in Nebraska are called upon to bypass the lawmakers on an issue. In 2014, a ballot measure resulted in an increase of the minimum wage after legislators rejected a bill on the matter. In November this year, voters again approved a ballot measure to expand Medicaid in the state when legislators were unwilling to do so. Before that, capital punishment was reinstated in 2015 through a ballot measure.

The two Lincoln legislators will not be on their own as they gather signatures to put medical marijuana on the ballot. The pair will have the support and the resources of the Marijuana Policy Project.

This non-profit was instrumental in the success of similar ballot measures in Utah, Maine, Nevada, Michigan and Massachusetts.  The group feels that it is inhumane to regard the patients who can benefit from medical marijuana as criminals.

The Marijuana Policy Project also believes that their campaign in Nebraska will be successful. After all, the people there already support the proposal to legalize medical marijuana. ChineseInvestors.com (OTCQB: CIIX) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) hope that the people, who are the final beneficiaries of medical cannabis, will be at the center of any discussions regarding whether or not to legalize medical cannabis in the state.

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – New Zealand Passes Medical Cannabis Bill

The government of New Zealand passed the medical cannabis bill earlier today (December 11). The bill provides a legal defense to anyone prosecuted for consuming medical cannabis during the time when a scheme has not yet been established to regulate how medical cannabis can be accessed.

The bill stipulates that the regulatory framework for access to medical cannabis should be in place within 12 months after the bill was passed. In the meantime, those who are terminally ill and are undergoing palliative care or are otherwise in the final stages of terminal illnesses can use cannabis and rely on the legal defense provided in the bill should such patients ever be prosecuted for consuming an illegal substance (cannabis).

The third reading and eventual passing of the bill only became possible after three parties supported the bill. These were the Labor Party, the Green Party and the New Zealand First Party.

The Green Party only supported the bill after getting a concession that native strains of cannabis will be used rather than relying on imported varieties. The Green Party also pushed to have the Medicinal Cannabis Scheme established speedily, in any event not later than one year after the bill was passed.

New Zealand First pushed, and succeeded, in having the legal defense apply not just to patients having less than a year to live, but to all those undergoing palliative care.

Talking after the passing of the bill, Health Minister David Clark said he was delighted with the “most progressive” bill ever passed with regard to cannabis. He promised to do everything possible to ensure that medicinal cannabis would become increasingly affordable as the years go by.

Clark added that his ministry would draft a paper on the medicinal cannabis scheme and invite experts as well as the general public to contribute to this paper before the scheme is implemented. This draft will be ready early next year (2019).

However, the bill didn’t pass without opposition. The National Party initially supported the bill, but voted against it during the third reading in Parliament.

The National Party is of the opinion that the current bill effectively decriminalized marijuana without being explicit about it. Simon Bridges, the leader of the National Party, described the bill as an attempt at “decriminalization by stealth” because the bill doesn’t provide any guidelines regarding the implementation of the scheme.

For example, he wondered what a police officer would do in case that officer encountered someone smoking cannabis outside a school.

The National Party drafted its own National Bill containing a detailed plan of how medical cannabis can be provided without creating any unnecessary risks. For instance, their bill bans the smoking of paper-rolled cannabis and includes a photo-ID system to enable the eligible patients to access medicinal cannabis at pharmacies.

The plan suggested by the National Party may not go to waste, for its recommendations may be considered during the consultative process hinted at by the Health Minister. After all, both sides in this debate want a Medicinal Cannabis Scheme that works for all. ChineseInvestors.com (OTCQB: CIIX), Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and other players in the cannabis industry would be glad to see the US pass legislation permitting cannabis in some form at the federal level.

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Cannabis Regulations Are Making Banking Expensive, Expert Says

More information is filtering out about the discussions that transpired during this year’s three-day Las Vegas MJBizCon that ended in the week before Thanksgiving. A leading banker from the Partner Colorado Credit Union revealed that it is very expensive for banks to do business with cannabis companies due to the huge amount of paperwork and the regulations which have to be adhered to when providing banking services to the marijuana industry.

Sundie Seefried revealed that her institution had to file more than 7,000 reports to regulators regarding the Credit Union’s dealings with marijuana businesses. Those reports were on behalf of just 220 cannabis businesses.

However, the same Union only filed 226 reports on behalf of 33,000 other clients of the financial institution. The man-hours needed to prepare and file all the reports associated with the banking activity of cannabis businesses makes it very costly to work with those companies.

Consequently, cannabis companies pay a high price for the banking services that they can access from the financial institutions willing to do business with them.

The huge amount of paperwork is a result of the federal laws that still regard marijuana as an illegal substance regardless of what state law may say.

Seefried also revealed that her Credit Union was the subject of an unusually high number of inspections conducted by state and federal regulators. For example, the industry average for such inspections is three in a period of approximately four years.

However, Seefried has witnessed nine inspections by regulators who want to confirm that the financial institution isn’t violating any banking laws in its dealings with cannabis businesses.

Such a high level of scrutiny is more than enough to deter many financial institutions from taking cannabis businesses as clients. Perhaps that could be the reason why more than half of the marijuana businesses in some states can’t find a financial institution to do business with, so they are left with no choice but to operate on a cash-only basis.

A conference participant asked whether it would ease matters somewhat if banks accepted cryptocurrencies from marijuana businesses instead of cash. Sundie Seefried responded that she had been explicitly told that it was already risky enough for her to have cannabis businesses as clients without taking on an added risk of accepting cryptocurrencies as well.

She ended by painting a bleak picture for cannabis banking. She said banks may remain unwilling to accept cannabis businesses as clients even if marijuana is legalized federally. This is similar to what happened to casinos.

Cannabis companies like Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and Earth Science Tech, Inc. (OTCQB: ETST) can only hope those grim predictions don’t see the light of day.

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – What the World Can Learn from the Dutch about Cannabis

Debate about cannabis has taken center-stage across the world after Canada took the bold decision to legalize recreational marijuana on October 17 this year. As people observe events in Canada, the true lessons about marijuana may lie in Europe, the Netherlands in particular. Several lessons are plain to see for those who are willing to observe how the Dutch have handled the issue of cannabis.

Neutral Observation is Important

While Nixon’s government declared all-out war on marijuana and other psychoactive substances, the Dutch opted for another approach. They decided to neither outlaw nor legalize cannabis. They “tolerated” it and observed what it would do to its users and others involved in the “industry”. That observation led the authorities to conclude that marijuana didn’t pose a serious-enough public safety risk to warrant the allocation of law enforcement resources to fight it.

Lesson number one? First observe a substance you are interested in before you make any policy decisions about it. You will rarely go wrong if you take this approach.

Tolerance Disarms Counterculture

Every community will have a group of people that will want to identify with what is illegal. The hippies are an example of a counterculture movement that swept across the U.S. decades ago. The youth are another section of the community that will be drawn to anything illegal “just for just”.

Counterculture has the irresistible “cool factor” attached to it, and declaring a substance illegal instantly gives it a cool factor. See how the U.S. FDA is having sleepless nights due to the explosion in the use of electronic cigarettes by minors.

The Dutch decided to tolerate cannabis, so it was no longer a substance of choice for those who wanted to rebel against society. It wasn’t cool to light a joint. That provides cannabis lesson number two for the world.

Tolerance Limits Criminal Involvement

The Dutch don’t have a huge cannabis black market to gobble up law enforcement resources because “coffee shops” openly sell marijuana to their clients. The government controls how much stock each establishment can have, and it imposes taxes on each gram of cannabis sold.

Law enforcement just steps in once in a while to confirm that the sellers aren’t breaking any of the rules regulating the sale of cannabis. Why would anyone buy from the black market when the same product can be procured openly? Lesson three, criminalizing cannabis will only magnify law enforcement headaches without stopping the criminal enterprises involved.

Science Prevails Where Legalization Occurs

Is cannabis legal in the Netherlands? No. Is it illegal? The answer again is in the negative. Cannabis is somewhere between legal and illegal, it is tolerated. This kind of legal regime has made it hard for the scientific community to study cannabis in the Netherlands. Consequently, the country has very little to show for all its decades of cannabis tolerance. Countries like Canada that legalized medical marijuana may have more knowledge about the plant than the Netherlands where it has been available for decades.

Lesson four? Legalization is the only way through which the scientific community can devote the immense resources needed to conduct studies about cannabis. This fourth lesson, along with the other lessons, may be why companies like ChineseInvestors.com (OTCQB: CIIX) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) would like to see different jurisdictions enacting laws to regulate the cannabis industry so that it grows in a responsible way instead of letting it thrive underground.

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Chronic Cannabis Shortages Force Quebec Stores to Close Several Days Each Week

We wrote earlier that cannabis shortages were registered across Canada from the time recreational cannabis became legal in the country. Those shortages seem to be getting worse with Quebec announcing that its government-controlled retail stores would close for three days each week for an unforeseen duration until marijuana supplies can be obtained in the quantities which can satisfy the currently high demand.

The SDQC, the government agency charged with trading in cannabis within the province of Quebec, announced that its stores would be closed every Monday, Tuesday and Wednesday.

These closures would help the stores to serve their customers better on the days when the stores are open. However, the closures don’t mean that customers are guaranteed that they will always find what they want on the days when the cannabis retail stores are open.

Online sales haven’t been affected by the store closures, but many online outlets list several products as out of stock.

Cannabis producers and suppliers seem to hold the key to ending the shortages by availing cannabis products in the amounts ordered by the different stores in the province.

Interestingly, Quebec has several licensed cannabis producers, such as Aurora Cannabis. The company said that they were doing everything possible to meet the existing demand for cannabis, but they can’t force the cannabis plants to grow faster than they do.

Such a statement seems to be a worrying pointer to customers that they may have to wait for a long time before cannabis supplies stabilize and stores open on a daily basis.

Industry players suggest that such supply hiccups are inevitable each time a new industry is opened since no one can predict accurately how the market will respond. For the case of recreational cannabis, the market seems to have been yearning for the product in a way that not even the greatest optimists among the producers could have ever imagined.

Francois Legault, Quebec’s Premier, expressed surprise that there were shortages and hurried to add that it wasn’t his government that designed the distribution system. He was also concerned about the effect of marijuana on young people and vowed to do what he can to raise the minimum age at which one can legally consume recreational cannabis in the province to 21.

With legal weed so hard to get, it will not be surprising when the people resort to the black market to get high. Such an eventuality can have undesired outcomes, such as exposing users to untested products which can be harmful in the short or long-term. The government also loses tax revenue each time a person buys a joint from the unregulated (black) market. Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF), Canopy Rivers, Inc. (TSX.V: RIV) and other players hope that the shortages can end quickly before public interest in marijuana wanes.

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – Research Finds That Cannabis Helps Crohn’s Disease Sufferers

A team of Israeli researchers has confirmed that cannabis oil can improve the symptoms caused by Crohn’s disease. The researchers made their findings public at the 2018 UEG Week (United European Gastroenterology) that has just ended in Vienna. The event was held from October 20-24.

The lead researcher of the randomized, placebo-controlled study was Dr. Timna Naftali. He revealed at the UEG Week that their study was the very first to investigate the impact of cannabis on Crohn’s disease.

The researchers studied 46 individuals who were divided into two groups during the study. One group was given cannabis oil while the second group was given a placebo. After 8 weeks, the researchers found that 65 percent of the patients who received the cannabis oil had clinical remission of their symptoms while only 35 percent of those who got the placebo had a remission.

The scientists used tools that were standard practice for monitoring and recording how the clinical symptoms were responding during the trial period. Gut inflammation was monitored using endoscopy. Stool and blood samples were also tested for inflammatory markers during the study.

The researchers were surprised to discover that inflammation in the gut of the study participants didn’t change despite an improvement in the symptoms suffered by the individuals.

This finding disproved the long-held belief that patients improved because cannabis combated the inflammation in their gastrointestinal tract. The cannabis oil used in the study contained 15 percent CBD and 4 percent THC.

The researchers concluded that cannabis oil can now start being used as a therapy to temporarily provide relief from Crohn’s disease symptoms since it doesn’t cure the condition. Cannabis oil may be used alongside or as an alternative to the current Crohn’s disease management therapies.

The Israeli researchers plan to conduct other studies on how cannabis can be used to treat bowel inflammatory disease and other GIT diseases.

It should be remembered that the World Health Organization (WHO) is going to hold an expert meeting in November to review the classification of marijuana. The U.S. FDA also called for public comments about cannabis (its medicinal value, addiction and harm potential etc.). The findings coming in from Israel can help boost the body of evidence presented to make the case for de-scheduling marijuana as a substance which doesn’t have any therapeutic use. Several countries around the world, including Canada, Lithuania, the UK, Australia, Germany, Denmark and dozens more have legalized medical cannabis.

That list of countries should provide ample proof that cannabis has medicinal effects for a variety of conditions since each country which legalizes cannabis for medical purposes creates a list of qualifying health conditions for which patients can get a prescription or card allowing them to obtain cannabis or its products.

Cannabis industry players like ChineseInvestors.com (OTCQB: CIIX) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) must be wondering why it has taken so long for all countries to recognize the nearly endless benefits of cannabis.

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

420 with CNW – U.S. Customs Now Says Canadian Cannabis Industry Workers Can Enter the U.S.

The cloud of uncertainty in the minds of Canadians working in the legal marijuana industry may have lifted a little after the U.S. Customs and Border Protection Administration (CBP) put up an update on its website stating that cannabis industry workers may be “generally” admissible into the U.S. in case their travel isn’t connected to their work.

This clarification comes several weeks after CBP issued a press release in which it suggested that anyone involved in the cannabis industry would not be allowed to cross into the U.S. That statement left marijuana industry workers contemplating an end to simple things like fulfilling the dreams of their kids by visiting Disneyland or even escaping the harsh Canadian winter by seeking out warmer locations across the border to the south.

The new statement clarified that any person involved in the Canadian cannabis industry may be denied entry in case such a person is coming to the U.S. on matters that are related to their work in the cannabis industry. Legalization in Canada doesn’t alter the prohibition of marijuana by U.S. federal law, the statement added.

However, the CBP statement is silent on what the fate of people who admit that they consume cannabis will be at entry points.

What the statement mentions directly is that those who have been convicted for violating U.S. or other countries’ drugs laws will not be allowed into the U.S.

Legal experts agree that the recent statement by CBP provides a more reasonable approach to handling the matter of Canadian cannabis industry workers who wish to travel to the U.S. However, those experts also point out that several grey areas still exist.

For instance, it wasn’t clear how the border authorities will determine which activities are connected to the industry and those that aren’t. Is traveling to attend a marijuana conference in the U.S. outlawed?

Lawyers who specialize in cross-border matters also think that Customs and Border Protection worded their statement cleverly in order to give their agents wiggle room when determining whether to allow someone into the country or not.

It is expected that the position of the U.S. border authorities will keep evolving in the coming weeks and months as the kinks in their current policy get ironed out. In the meantime, Canadians are advised to be mindful about the existing U.S. laws in order to avoid being found in breach of those laws while traveling to or while in the U.S.

ChineseInvestors.com, Inc. (OTCQB: CIIX) and Choom Holdings, Inc. (CSE: CHOO) (OTCQB: CHOOF) must be equally concerned about the grey areas or contradictions in the cannabis laws at different jurisdictional levels.

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com