420 with CNW – Medical Marijuana Finally Available in Louisiana

Last week, we indicated that Louisiana patients could be able to purchase medical marijuana this week, and that has come to pass. On Tuesday, GB Sciences, the cultivator and manufacturer working with Louisiana State University, got approval from the state regulator to ship a batch of medical marijuana products to licensed pharmacies after the samples that were taken by the regulator passed the tests they were subjected to.

Most of the nine pharmacies which secured licenses to sell medical marijuana across Louisiana are widely expected to open their doors to patients by the end of this week.

Gary Hess, a combat veteran, was one of the first two people to buy medical marijuana in the state after the Tuesday ribbon-cutting ceremony performed by Capitol Wellness Solutions, one of the licensed pharmacies in Louisiana. Hess told the media that he was glad that he could finally use medical marijuana legally in the presence of his family.

The combat veteran revealed that while traveling to California, he used medical marijuana and was astounded by how helpful it was in relieving his PTSD symptoms. He added it was a big relief for medical marijuana to become available in his home state.

Fred Mills, the state senator and pharmacist who sponsored the bill which brought medical marijuana to Louisiana, stated that he had never imagined that it would take this long for medical marijuana products to become available to patients after the appropriate law was passed four years ago. Mills added that he was disturbed to keep receiving desperate phone calls from patients who kept asking him how much longer they must wait before getting relief from their symptoms. He was therefore glad that the long wait has finally come to an end and those patients could start visiting legal sources of the medical marijuana products they need.

88 doctors have so far been given the nod to start recommending patients who qualify to join the medical marijuana program. The state has a list of qualifying conditions for which patients can access the program.

Currently, Louisiana law only allows medical cannabis products that are in the form of oils, tinctures, pills, inhalers and other such forms, but it doesn’t permit the smoking of medical marijuana.

The state has left pharmacies to set their own product retail prices, and interested patients will pay out of pocket since medical insurers aren’t covering this form of treatment. The product prices are expected to vary between $99 and $200, according to a representative of one of the pharmacies which have received consignments of the products made by GB Sciences. The products made by Southern University and its partner will take a while to be available since they have just planted their maiden crop.

For now, analysts believe that industry actors like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and Sugarmade Inc. (OTCQB: SGMD) are glad that the far south of the U.S. has got the first state permitting medical 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 – Colorado Nurses to Launch Cannabis Information Hotline

A medical marijuana patient and a registered nurse in Colorado are teaming up to start a hotline to answer the questions that potential medical marijuana users have about the drug. If all goes according to plan, this hotline will be launched in September.

Katherine Golden, the registered nurse in this duo, admits that she was skeptical about the medical benefits of marijuana until a family member was diagnosed with cancer and she felt compelled to look for peer-reviewed research on the benefits of marijuana for cancer patients. What she found astounded her and she wondered how all that information was unavailable to members of the medical community.

Her findings were so convincing that she switched careers and started working in a medical marijuana clinic in Boulder.

Jennifer Axcell has been taking medical marijuana to deal with the pain she has been having since she was involved in a car accident thirteen years ago. The medical marijuana proved to be more helpful than the prescription meds she was initially given by her doctor.

Jennifer Axcell met Katherine Golden at Holos Health, a medical marijuana dispensary in Boulder, and they soon bonded. That bond grew as they both strongly felt that there was a need to share information about medical marijuana.

They therefore became unofficial information ambassadors within the medical cannabis community, and the idea of starting the hotline, Leaf411, was born.

Golden feels that the hotline will be invaluable since nurses are highly trusted by members of the community. This view was confirmed by a Gallop poll which found that nurses were the most trusted professionals. 85 percent of the adult Americans who were surveyed by Gallop in December 2018 said that the ethical standards of nurses were high or very high. In contrast, members of Congress had a dismal 8 percent rating for being ethical.

Golden hopes to use the respectability and reputation of nursing to provide reliable information to people who want to learn about medical marijuana.

To that end, she and Axcell have applied for funding from the Colorado state government. They hope to benefit from part of the millions of dollars of cannabis tax revenue earmarked for public health and education.

The pair is also contacting different medical marijuana companies for funding since these entities stand to benefit the most when their potential clients are informed about medical marijuana. Golden feels that a budtender shouldn’t be the first person that a patient approaches for information on medical marijuana.

Golden and Axcell are also hoping to enlist at least four registered nurses with medical marijuana experience to be on the phone for 12 hours each day. They hasten to add that Leaf411 will not be an emergency line, so it will only be available during normal business hours.

Advocates believe that the entire industry, including Sugarmade Inc. (OTCQB: SGMD) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G), will be thrilled that members of the medical professional are jumping into the fray to educate their peers and members of the public about medical cannabis.

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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Political Backing, Investor Interest Fuel Kentucky Hemp Boom

CannabisNewsWire Editorial Coverage: The surging hemp industry means exciting benefits for Kentucky.

Hemp is big business in Kentucky. Among the companies working in the state is Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile), a supplier of hydroponic equipment that is now moving into hemp through an investment in Hempistry. In New York, a leading politician has been in contact with Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) to ensure the survival of a hemp project threatened by executive upheaval. Tilray Inc. (NASDAQ: TLRY) is looking even further than North America for growth. Cronos Group Inc. (TSX: CRON) (NASDAQ: CRON) is focusing on innovation in the sector. New Age Beverages Corporation (NASDAQ: NBEV) has been expanding its distribution and marketing power to reach into…

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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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

420 with CNW – Second Marijuana Home Delivery Lawsuit Filed in California

East of Eden Cannabis Company, a state-licensed marijuana company in California, has filed a lawsuit against Santa Cruz County accusing the local government for violating the rights granted to the company by the state government.

The company asserts that the state law allowing companies to deliver marijuana to any part of the state, including areas that opted out of hosting marijuana businesses, is being trampled upon by the enforcement of the rules passed by the authorities in Santa Cruz banning the delivery of marijuana into their jurisdictions.

This lawsuit is the second on the controversy surrounding who should have the upper hand in determining where legal marijuana can be distributed within the state of California.

In its court papers filed with the Superior Court in Santa Cruz, the marijuana company argues that the county has threatened to initiate a criminal investigation against East of Eden and also seek to have its state license revoked for making marijuana deliveries in areas that don’t permit marijuana within their jurisdictions.

The company therefore requests the court to give it permission to resume making cannabis deliveries and also declare the rules of Santa Cruz on the matter as “void and unenforceable.”

In January this year, marijuana industry regulators in the state okayed a rule that would permit licensed marijuana companies to start making cannabis deliveries anywhere in the state, including in jurisdictions that had passed ordinances banning marijuana businesses.

This new rule drew the wrath of anti-cannabis groups who said that the state was reversing the promise made by the voter measure which stated that local authorities would have the liberty to either accept or ban marijuana companies from operating within their jurisdictions.

Police chiefs and the League of California Cities have voiced concerns that unrestricted home deliveries of marijuana pose a risk that a lot of marijuana transactions will go unreported and pave way for the black market to thrive.

Santa Cruz County, Beverly Hills and close to twenty other local authorities took the added step of suing the state government and marijuana regulators in order to have the home delivery rule reversed.

The conflict between the state and local the authorities has prevented the marijuana industry from reaching its full potential in the largest (so far) single cannabis market across the world. Industry watchers believe that the entire cannabis industry, including participants like The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) and Sugarmade Inc. (OTCQB: SGMD), will be following these legal battles closely because the decision of the courts could change the trajectory of the industry in all the states where marijuana is legal.

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.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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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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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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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

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

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

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.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW – 5 Trends Making a Mark on the Cannabis Industry in 2019

As the first half of this year comes to an end, you may be wondering what trends have firmly established themselves as shapers of the cannabis industry. Here is an overview of some trends you may have noticed or need to watch going forward.

Trend #1: Growth of Marijuana Social Consumption

It was always ironical that while marijuana was legal in various jurisdictions, it remained nearly impossible to legally use pot outside one’s home. A new wave of amendments and laws is addressing this gap and we have started seeing states and cities creating regulatory mechanisms for marijuana social consumption lounges. Expect these places to spring up in all jurisdictions where recreational marijuana is legal.

Trend #2: Revived Interest in Plant-Derived Remedies

The growth of the cannabis industry may have had an unforeseen consequence of reigniting people’s interest in treatments that tackle health complications from the root rather than just fixing symptoms. Throughout the U.S. and across the world, plant-derived medicine is seeing a revival which may just be what the marijuana industry needs to go to the next level. The CBD craze is one result of this trend. Expect to see numerous formulations from full-spectrum marijuana and hemp at a hospital or wellness center near you!

Trend #3: Remorse for the War on Drugs

There seems to have been a lot of soul-searching going on and the desire to correct the wrongs committed against racial minorities during the failed war on drugs has become a strong driver of marijuana legalization and decriminalization efforts. Illinois has set the bar, but don’t be surprised if other states raise it higher during the next wave of recreational marijuana legalization initiatives.

Trend #4: Consolidation Within the Industry

This was first noticed last year, but it appears to be gathering momentum as this year progresses. As the cannabis industry matures, many mom and pop or small startups in the industry are being gobbled up by bigger players who have the financial and other resources to successfully navigate the complexities of the industry brought by the contradictory state and federal laws. One advantage of this consolidation is that it will promote the industry further since Americans have generally grown to put more faith in big brands across all industries.

Trend #5: Cannabis Flower is Peaking as a Product of Choice

Cannabis flower still takes the lion’s share of the cannabis market, but this year has seen other segments registering massive growth that outstrips the rate at which the market for smokable flower is growing. For example, marijuana oils and edibles have seen explosive growth in recent months, and this surge is likely to continue at the expense of cannabis flower. Several reasons, such as the stigma associated with smoking marijuana, account for the growth of the other product lines.

Current and potential investors in the cannabis industry may be well advised to watch the trends above carefully and make their investment decisions accordingly. It would be interesting to hear what industry participants like The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) and Sugarmade Inc. (OTCQB: SGMD) have to say about the trends above.

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.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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New Technology Enters the Market as Demand Rises for Hemp Processing Power

CannabisNewsWire Editorial Coverage: Rising hemp production is putting pressure on processing.

Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile), a provider of cultivation equipment, is adding processors to its catalog of products, focusing on next-generation machinery. Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) will be among the companies with a rising demand for processing, as it increases both its cultivation capacity and its product lines. Demand is rising in part thanks to CBD’s public profile, with deals such as the partnership between Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) and UFC shining a spotlight on the plant and its potential. New uses for CBD are also increasing demand for the plant, with R&D led by companies such as…

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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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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

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

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

420 with CNW – Medical Marijuana Dispensary Introduces its Own Credit Cards to Reduce Cash Transactions

Columbia Care, a medical marijuana company, has rolled out its own credit card as the cannabis industry struggles to find alternatives to having to deal in cash only.

Just like banks, credit card providers have been reluctant to embrace the marijuana industry because of fears that they would be sanctioned by the federal government since marijuana remains an illegal substance federally.

This has compelled most dispensaries to accept only cash, with ATMs being a frequent sight on the premises of dispensaries. Some dispensaries have designed systems which accept ATM or debit cards for making payments for purchases made.

Columbia Care has been running trials of its credit card in New York and it now plans to roll out this system in Chicago where it has a dispensary within the Jefferson Park neighborhood. Nicolas Vita, the company’s CEO says that patients spend approximately $144 each time they visit the dispensary in Chicago.

He added that the introduction of the credit cards will make it easier for patients to access the medical marijuana products that they need. He singled out patients who have mobility challenges and those who travel long distances to find a dispensary as some of the patients who may buy more products once they have the credit card. Buying more during a single visit reduces the frequency of making trips to purchase replenishments.

To get the credit card, patrons will be asked to use the tablet in the dispensary to fill a form. The credit card will then be processed quickly and the dispensary client will be in position to use that card during that same visit.

Columbia Care revealed that it is working hard to secure intermediaries and financial institutions in all the 12 states where the company has operations. Those partnerships will make it possible for dispensary clients to use the credit card in those other states.

Unlike other credit cards, the one issued by Columbia Care will not attract any fees. Its annual interest rate (15.99 percent) is also lower than the industry average (17.73 percent).

When the credit card was tested in New York, customers bought approximately 18 percent more products when using the credit card when compared to the purchases made when paying cash or using an ATM or debit card.

Other attempts have been made to find alternative ways to receive payments, but some of those methods border on illegality. For example, some companies accept credit cards but the purchases are reflected on credit card statements as spending at a florist’s while other companies ask clients to buy a gift card and then use that gift card to buy marijuana products.

Meanwhile, there has been a recent push by different groups, such as Attorneys General and banking associations, urging Congress to enact legislation bringing marijuana industry money into the banking system.

It would be interesting to know what industry players like Sugarmade Inc. (OTCQB: SGMD) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) think about some of the unorthodox payment methods that some marijuana companies have resorted to.

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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Demand for CBD Places Power in Hands of Extraction Providers

CannabisNewsWire Editorial Coverage: Extraction technology plays a crucial part in the production of cannabidiol (CBD) from hemp.

Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile), a company already established in the hydroponic equipment business, is making plans to add extraction technology to its repertoire. Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) has been researching new medical applications for CBD and related chemicals — medicines for which extraction will be critical. KushCo Holdings Inc. (OTCQX: KSHB) has moved from providing support services to CBD-related companies to running its own store and has recently bolstered its leadership team for further growth. Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF) has expanded swiftly over the past six years, growing from a single operation to a presence in five U.S. states. And in a boost to CBD’s public profile, Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) has teamed up with UFC to research the application of CBD and related treatments for…

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The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.