420 with CNW – Luxembourg Reveals Intention to Become First in Europe to Legalize Marijuana

Luxembourg’s health minister has confirmed that the country plans to legalize recreational marijuana and he has urged other European Union (EU) member states to relax their own marijuana laws. If the country ends prohibition, it will be the first European country to take this bold step in defiance of UN conventions on the matter.

Etienne Schneider, Luxembourg’s health minister, said that the current drug policy which has been in existence in the country for the past 50 years hasn’t had the desired effect because prohibition only served to make marijuana more appealing to the youth. He added that he hoped that the citizens of Luxembourg would all become more open-minded towards drugs.

According to the legalization plan, residents who are at least 18-years old would be able to buy, possess and use marijuana in Luxembourg two years from now. The state plans to create an agency through which the production and distribution of marijuana will be regulated.

The draft law through which this legalization will be implemented is expected to be unveiled later this year. The health minister revealed that the draft law is likely to include provisions banning visitors from buying marijuana during their stay in Luxembourg. Schneider says this provision is necessary in order to prevent the country from becoming a destination for “drug tourists.”

The legalization law is also likely to ban the home cultivation of marijuana while also decriminalizing the possession of less than 28grams of the drug by minors between 12 and 17 years of age. However, minors who contravene this rather liberal provision will face stiff penalties.

Luxembourg’s health minister also said that he was keen to convince other countries in the EU to follow Luxembourg’s lead and reform their own marijuana laws.

According to additional information provided by Schneider, there is likely to be limited resistance to the plan to legalize marijuana in Luxembourg because a coalition of the Liberals, the Greens and the Social Democrats agreed to this plan. Last year, Felix Braz (the justice minister) and Schneider flew to Canada to see how one of the largest Canadian pot companies was producing marijuana for the recreational market.

Medical marijuana is already legal in Luxembourg and the possession of limited amounts of marijuana was decriminalized. Full legalization therefore seems to be the next logical step for this EU country.

It is unclear how other EU countries will respond to the legalization of cannabis in Luxembourg. The Netherlands is currently the only country in the EU which tolerates recreational marijuana since the drug is neither illegal nor legal. Coffee shops openly sell marijuana even if the cultivation and processing of the substance remains illegal in the country.

Pundits believe that the global cannabis industry, including actors like Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and SinglePoint Inc. (OTCQB: SING), could be very pleased by the news coming from Luxembourg since this may trigger a domino effect in other EU countries.

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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 – Cuomo Signs Marijuana Expungement and Decriminalization Bill

On Monday, New York Gov. Andrew Cuomo (D) signed into law a bill that expanded marijuana decriminalization and also paved the way for people with certain marijuana convictions to have their criminal records wiped clean.

The new law, which will take effect 30 days from the date of signing, will make the possession of less than two ounces of cannabis a non-criminal offense punishable by a fine that varies between $50 and $200 depending on how much marijuana one is convicted for possessing.

In a press release, Cuomo stated that the signing of this law is a critical step towards mending the discriminatory and broken criminal justice system in which people of color were disproportionately targeted during the failed War on Drugs. He added that the expungement provisions and the change in the draconian penalties for marijuana possession offers the affected communities a chance for a fresh start.

Marijuana law reform advocates hailed this new law although it fell short of the full legalization that they had hoped for during the just-ended legislative session. Cuomo had delivered his budget proposal without marijuana legalization, but there was hope that any differences over the implementation of the program would be ironed out in the final months of the session.

However, the disagreements over how the policy would be implemented dragged on until the governor announced that a deal couldn’t be agreed upon in time for a vote during the closing days of the session.

The key sticking points were whether local authorities would have the final say on whether marijuana businesses operated within their jurisdictions and the second major cause of disagreement regarded the way in which taxes from marijuana would be spent by the state.

The decriminalization and expungement bill was a compromise law upon which there was little disagreement. Carl Heastie (D), the Assembly Speaker, hailed the law saying that it removed the barriers that were standing in the way of many New Yorkers who wished to find housing, a job and get an education.

Even anti-marijuana legalization groups, such as Smart Approaches to Marijuana (SAM), welcomed the law saying that it was a reasonable piece of legislation that was long overdue. SAM admitted that they had worked hard to defeat the broader legalization bill, and would continue to campaign for marijuana to remain prohibited in the state.

Sen. Diane Savino (D), who has been a longtime campaigner for marijuana law reform, commented that the decriminalization and expungement law was slight progress since the sale of marijuana was still left in the hands of criminals instead of letting licensed businesses participate in a regulated industry.

Cannabis industry analysts believe that industry players like SinglePoint Inc. (OTCQB: SING) and Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) will be pleased by the signing of this law since it marks another chip taken off the wall of 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 – New Data Reveals Cannabis Legalization Increases Rates of Snacking

New data released by Nielsen shows that people who live in states where marijuana is legal snack more than their counterparts in states with prohibitionist laws. The uptick in the sales of snacks was noticed for sweet and well as salty snacks.

This study suggests that legalizing recreational marijuana can create a boom for the confectionary and snack segments of the food and beverage industry in the U.S.

While snacks sales saw a modest 6 percent increase in states where marijuana is still prohibited for recreational use, states that tolerate adult-use marijuana registered an increase of 7.2 percent in the sale of snacks.

In total, candy sales generated approximately $6.5 billion during the period under review. For this item alone, an increase of 2 percent was observed in states with legal recreational marijuana while those without these laws saw a modest 1.3 increase in the sale of candy.

It appears that salty snacks are the preferred option for cannabis users who get the munchies because the states where adult-use marijuana is legal generated $30 billion from the sale of salty snacks alone.

Nielson used this data to assert that no other single factor was responsible for the difference in the sales of snacks in the states where recreational cannabis is legal.

This claim may be credible because there is ample anecdotal and scientific evidence proving that consuming marijuana boosts one’s appetite and enjoyment of food. The data collected by the census divisions of the U.S. federal government also points to the fact that people get the munchies in states where recreational-use marijuana has been legalized.

Currently, 11 states and Washington, D.C. have legalized recreational cannabis while more than half of the union has given the nod to medical marijuana. Each round of elections now appears to bring more states on board either for recreational or medical marijuana, so the entire country could soon have legal marijuana in some form.

However, the federal government still maintains cannabis as a Schedule I drug although recent events, such as the congressional subcommittee hearing on how to end prohibition may suggest that the federal government could soon revise its position on marijuana.

Analysts posit that players in the cannabis industry, such as Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Organigram Holdings Inc. (TSX.V: OGI) (NASDAQ: OGI), will not regard the findings of this study as anything new since the industry has known for long that cannabis has a positive effect on those with poor appetite.

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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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420 with CNW – 2019 Federal Data Shows More Banks are Accepting Marijuana Businesses

Newly released federal data shows that in 2019, more credit unions and banks have been taking on marijuana businesses as clients compared to previous quarters and years.

The federal data shows that there were 113 credit unions and 438 banks which actively serviced cannabis businesses in the final quarter of 2018. The statistics for the first quarter of 2019 indicate that the banks increased to 493 while credit unions numbered 140.

The data comes from the Financial Crimes Enforcement Network (FinCEN) of the Treasury Department. FinCEN tracks the finances of the marijuana industry in accordance with the banking guidelines issued in 2014 by the Obama administration. Under these rules, financial institutions are required to file Suspicious Activity Reports (SARs) with FinCEN.

Under the current federal laws, banks risk being penalized if they do business with cannabis firms since marijuana products are still federally illegal. Despite this risk, more financial institutions are biting the bullet and accepting marijuana businesses as customers.

The update from FinCEN for the quarter ending March 31 shows that they received 81,725 SARs from banks and credit unions across the country. Of those, 61,036 SARs were categorized as “marijuana limited.” This categorization is given to SARs which refer to banking transactions of businesses that comply with state laws.

Another 6,000 SARs were grouped under “marijuana priority.” SARs in this category show transactions that raise at least one red flag due to the transgression of either state marijuana laws or federal guidelines on which sorts of marijuana businesses can be serviced at state level.

20,000 SARs were labelled “marijuana termination.” These are transactions that show that a given business violated either state or federal marijuana laws thereby prompting the bank or credit union to terminate its relationship with that marijuana business.

Financial institutions have for long complained about the complex reporting requirements which they have to comply with while servicing legal marijuana businesses. Those reporting requirements make access to banking services expensive for legitimate cannabis businesses since the costs of compliance are passed on to them.

The SAFE Banking Act which is making its way through Congress is seen as one way to get a lasting remedy to the issue of cannabis banking. This bill is widely expected to be up for a vote on the floor of the entire House of Representatives next month after it was passed in March by the House Financial Services Committee.

In the meantime, Congress voted to include language in the appropriations bill for Fiscal Year 2020 barring the Department of Justice from taking marijuana enforcement action in states and territories with recreational and/or medical marijuana laws.

Codifying these protections into law would go a long way towards easing the fears of financial institutions regarding working with marijuana businesses. Marijuana industry watchers strongly believe that the industry, including players like Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (FRA: O3X4) and Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF), will be glad that the federal data shows that more financial institutions are warming up to the marijuana industry.

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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 – Poll Shows Americans want CBD as an OTC Drug

A survey conducted by Gallup has found that the majority of Americans who are familiar with CBD (cannabidiol) want it available as an over-the-counter drug. The results of the survey were released on Friday last week (June 14).

The CBD craze traces its roots to the cannabis reform movement, and it gained momentum when the Farm Bill 2018 became law last year. This bill legalized industrial hemp and all its derivatives, including CBD.

The survey involving 1,017 participants was conducted over the phone in a bid to get insights into the widespread appeal of CBD. The interviews were conducted from May 15-30.

In all, 39 percent of the people polled revealed that they want to see CBD available as an OTC drug while 21 percent said CBD should be accessed using a doctor’s prescription. 36 percent of the people polled revealed that they weren’t familiar with this particular compound of hemp and marijuana plants.

When Gallup focused on those who were familiar with CBD and asked them whether CBD should be purchased as an OTC drug or as a prescription drug, 61 percent favored the OTC option while 33 percent preferred to see it as a prescription drug.

The participants in the poll were also asked to rate how familiar they were with CBD. 14 percent looked at themselves as “very familiar” with it, 33 percent felt they were “somewhat familiar”, 17 percent felt they were “not too familiar” while 36 percent confessed that they “weren’t familiar at all” with cannabidiol.

Gallup again narrowed its attention to only those who categorized themselves as very familiar with cannabidiol and asked them for their opinion about the medicinal value of CBD. 90 percent of this group believed that CBD had therapeutic benefits.

Of those who thought CBD had medicinal benefits, 33 percent said it had “a lot of benefits”, 45 percent felt CBD had “some benefits” and 14 percent thought cannabidiol had “a few benefits.” 3 percent were neutral on the matter while 4 percent said cannabidiol didn’t have any medical benefits.

Commenting about their findings, Gallup wrote that most Americans already believe that CBD has medicinal value even if research has been slow in proving or disproving many of the therapeutic benefits attributed to CBD. Gallup is convinced that the fraction of people who think CBD is medicinal is most likely to grow as more people get exposed to this non-psychoactive compound.

This possibility takes on a greater degree of certainty given that the FDA has already been convinced enough of CBD’s therapeutic benefits to the extent of approving a drug targeting rare forms of epilepsy.

The pressure on federal agencies like the FDA and Congress to pass laws legalizing CBD as a food supplement and other uses is therefore going to increase as the months go by.

Cannabis industry analysts are of the opinion that the Gallup findings didn’t catch industry players like Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Organigram Holdings Inc. (TSX.V: OGI) (NASDAQ: OGI) by surprise.

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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 – Congressional Report Raises Issues on Marijuana Impaired Driving

A Congressional research body has released a report whose findings bring into question a common assumption which has always been made by legislators that the legalization of marijuana leads to more accidents on roads due to impairment.

The experts, who were instructed by Senate and Congress to study the issue of impaired driving, didn’t find any conclusive evidence that marijuana can cause a driver to be impaired.

While law enforcement agencies have tried and true tools to identify people who are driving while impaired by alcohol, developing similar tools for dealing with marijuana driving impairment has proved to be very challenging.

The problem isn’t just the lack of appropriate technology. Additional questions also exist regarding how much THC can cause impairment and how that impairment is caused. The CRS (Congressional Research Service) writes in its report that while laboratory tests have proved that one can be impaired after consuming marijuana, conflicting results were found when studies were done to ascertain the degree of added risk of fatal crashes resulting from marijuana consumption.

Both opponents and advocates of legalizing marijuana agree that a lasting solution should be found to the issue of how to detect marijuana-impaired driving. However, the experts still doubt whether it will be possible to develop appropriate technology to detect impaired driving since what is currently available can only test whether someone has recently consumed cannabis.

It is remarkable that the Congressional report mentions several times that it isn’t clear cut that marijuana consumption is associated with a heightened risk of traffic accidents. This runs counter to the assumption which has been commonly held by Congress that when marijuana restrictions are loosened, there will be a rise in traffic accident fatalities.

This line of thinking also appeared in the wording of a recent House Appropriations Committee report in which funds were allocated to law enforcement agencies to identify drivers impaired by marijuana as a way of reducing the fatal accidents resulting from the increasing legalization of marijuana by states around the country.

Different researchers have reported that fatalities on the road don’t increase after marijuana has been legalized by a state. However, this doesn’t alter the reality that both sides on the marijuana legalization issue advise against driving after one has consumed cannabis.

The deputy director of NORML explained how hard it is to determine impairment from marijuana. He says that the effects on the psychomotor system are normally less acute and take a shorter time if one consumes marijuana, unlike the opposite case after alcohol consumption. Furthermore, THC remains detectable for a longer time, so a positive test doesn’t prove that one is impaired or consumed cannabis recently.

The Congressional researchers offer a number of recommendations on what Congress can do in light of the information gathered by the researchers. One recommendation is that more research should be done to determine whether a quantitative standard is feasible when determining cannabis impairment.

Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (Frankfurt: O3X4), Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) welcomes the report of the Congressional Research Service because it helps to dispel some of the misconceptions about marijuana use.

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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 – 50 State Banking Associations Urge Congress to Act on Marijuana Banking

Banking associations from all the 50 states across the U.S. have written a letter to the Senate Banking Committee to pass and advance the bipartisan bill before it seeking to protect financial institutions from federal penalties for doing business with licensed marijuana businesses.

In their letter delivered on April 20, the state banking associations observed that forcing cannabis businesses to operate on a cash-only basis exposes the businesses, their employees and the public to serious safety risks.

The banking associations also added that regulation and enforcement has been very difficult, something that can have adverse effects on the economy. Tax collection becomes inefficient and expensive since modern methods of remitting payments cannot be used. Compliance audits also become expensive because there is no clear paper trail to follow when looking into the financial records of marijuana businesses.

The banking associations also complained that while the Congressional Financial Services Committee passed a similar bill in March, other committees haven’t acted on the companion bills since then.

In their letter, the banking associations were quick to point out that they are neither in favor of nor against the legalization of marijuana. Their sole purpose is to serve the communities in their areas, including jurisdictions which have opted to legalize marijuana.

They added that there are many legitimate concerns which have to be considered on the subject of marijuana, but they were calling on Congress to narrow their focus for now on the issue of the banking sector with respect to the marijuana industry while other broader issues on marijuana policy are debated.

The Chairman of the Senate Banking Committee, Sen. Mike Crapo, revealed that he wouldn’t commit himself to bringing the marijuana banking bill before his committee until the Department of Justice had pronounced itself on the matter.

However, the banking association from the senator’s own home state seems to disagree with him and signed the letter. The association of attorneys general also disagrees and sent their own letter urging federal action to be taken to ease marijuana banking.

The National Association of State Treasurers has also written a letter calling on Congress to enact legislation which will make it possible for the cannabis industry to receive basic banking services in the states where such businesses are legal and licensed. Their reasons mirror the reasons stated by the 50 banking associations from all the states in the country.

Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (Frankfurt: O3X4) and Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) look forward to the day when the federal government will listen to the voices of the different associations asking for enabling laws to allow cannabis businesses to thrive in the states where they are licensed to operate.

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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 – Confident Cannabis Raises $12M for Nationwide Expansion

Confident Cannabis, a cannabis wholesale platform, has raised $12m to bring its total capitalization to more than $18m from their inception. The new funding is intended to enable the company to expand its operations into new territories across the country.

The Series A funding round was led by Poseidon Asset Management, a cannabis venture capital fund based in San Francisco. Other entities that invested more funds in Confident Cannabis include Y Combinator, Bullpen Capital, FJLabs as well as Greenfield Global and Base Ventures.

Confident Cannabis focuses on empowering all verticals within the cannabis industry so that all players, including cultivators and finally customers of cannabis end-products can know what is available in the industry, who makes it and what that specific product is made from. Confident Cannabis’ platform makes all this information available in real time, and the data they provide is verified by independent labs.

Last year in October, Confident Cannabis launched its platform, Wholesale, in Oregon. This meant that, for the first time, all players in the cannabis industry could interact with each other without having any fears about the authenticity or quality of the products showcased on the platform. The doubts were removed because Wholesale availed lab test results from licensed testing facilities.

Morgan Paxhia and Emily Paxhia, the two cofounders of Poseidon Asset Management, revealed that they decided to invest in Confident Cannabis after watching it closely from 2015 and seeing how far Confident Cannabis has come.

Emily Paxhia added that they were intrigued when all labs they encountered raved about how good the software provided by Confident Cannabis was. This was unexpected, because testing facilities rarely sing the praises of the software powering their systems. Poseidon Asset Management was hooked, and their participation in the Series A funding round is testament to their confidence in the future of Confident Cannabis.

Currently, more than 40 percent of all the marijuana which is produced legally within the U.S. passes through the lab testing platform run by Confident Cannabis. The expansion of their operations into more markets will avail that inventory of cannabis to more wholesalers, retailers and consumers.

All the entities that participated in this funding round praised Confident Cannabis for helping to increase compliance within the marijuana industry by providing solutions which address the current and future needs of the industry.

Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (Frankfurt: O3X4) and Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) wish Confident Cannabis all the best because what they are doing helps all other players in the industry.

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420 with CNW – Nevada Dragged to Court Over the Issuance of Marijuana Licenses

The growing discontent among companies that weren’t selected to receive one of the marijuana business licenses issued by the State of Nevada has grown to an extent of lawsuits being filed against the tax department.

A dozen companies have gone to court and want the state to be stopped from issuing more licenses until court decides whether the selection process was “capricious and violated the state constitution.”

A total of six lawsuits have been filed, all alleging that no one knows what criteria was used by the state when selecting the cannabis companies to grant a license and which applications to reject.

The hearings against the tax department largely stem from the second round of marijuana business licenses issued in December 2018.

The plaintiffs claim that the tax department arbitrarily selected 61 out of 462 applications for the expansion of the available businesses in the cannabis industry which is now approximately two years old in the state.

The 61 licenses were given for new laboratory, cultivation, manufacturing and dispensing facilities. The complainants also add that the process to award licenses worth millions of dollars in the cannabis industry ought to be transparent enough so that those who won know why they did and those who lost can believe that they lost fair and square.

The cases filed are set to start being heard in the course of this week. These cases come at a time when the state senate has passed a proposal to compel the tax department to release into the public domain cannabis taxpayer information that has up to now been regarded as confidential.

This proposal is now headed to Nevada’s Assembly for consideration. Once the proposal is enacted into law, the names of all the companies that applied for licenses, and all those that were selected would be released.

Gov. Steve Sisolak also agrees that something should be done about the grumbling against the licensing process, so he supports the measure making its way through the legislative process. The Governor came into office last year in November.

He has been calling for the creation of a regulatory body like the Nevada Casino and Gaming Board for the cannabis industry. To this end, he has set up an advisory panel to study and advise him about the best way to form a Cannabis Compliance Board.

The cannabis industry has been booming from 2017 when the first recreational sales were made. For example, recreational sales totaled $425 million in 2017, and this figure shot up to $884 million in the final six months of 2018.

Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) can only ask that the misunderstandings about the licensing process should be cleared quickly so that all efforts can be concentrated on serving the people of Nevada.

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