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 – Utah Picks Eight Applicants for Medical Marijuana Cultivation Licenses

The Department of Agriculture and Food in Utah has announced that it has selected eight applicants who will receive medical marijuana cultivation licenses as the state marches towards the implementation of a decision that voters approved during the elections last year but legislators later modified the ballot measure in what was called a compromise law.

The selected medical marijuana cultivation license applicants are Dragonfly Greenhouse, Oakbridge Greenhouses, Harvest of Utah, Standard Wellness Utah, Tryke Companies Utah, True North of Utah, Wholesome Ag, and Zion Cultivars.

The government’s statement unveiling the eight companies revealed that four of those eight companies have been operating in the state (conducting other business) while the other four had ties to Utah even if they were from outside the state.

In accordance with federal law, all the cultivation facilities will be located within Utah and all but one of the licensees will locate their grow facility in a rural part of the state.

The Department of Agriculture and Food spent hundreds of hours scrutinizing the 81 applicants who had expressed interest in growing medical marijuana in the state. The decision to select only eight growers, instead of the ten allowed by law, was made in order to avert a situation in which the supply of medical marijuana products would exceed the demand for those products. The eight growers were sufficient to create healthy competition and variety in the product offerings.

The chosen growers now have to undergo background checks before they are awarded the licenses.

Among other requirements, the application process required interested companies to have at least $250,000 to cover any issues that could arise while the company was growing medical marijuana in the state.

The licensed companies will be tasked with meeting the medical marijuana demand of approximately 42,000 patients that may enroll on the medical marijuana program during its first four years of existence. This number was arrived at after the University of Utah conducted a study to estimate the likely beneficiaries of the program.

Under Utah law, the cultivators who choose to grow marijuana indoors will be restricted to a maximum of 100,000 square feet of grow space while those who opt to grow the crop outdoors will be allowed to use a maximum of four acres. Depending on the spacing used, an acre can accommodate anywhere from 1,500 to 3,000 cannabis plants.

The law passed by legislators just days after the provisions of the ballot measure approved by voters took effect in December 2018 removed the permission that had been given to certain categories of patients to grow a maximum of six plants.

Under Prop 2, people living beyond a defined minimum distance from a medical marijuana dispensary would be permitted to grow their own medical marijuana. This provision was vehemently opposed by different groups, such as law enforcement, and it was removed by a law passed during a special session of the legislature.

Now that cultivators have been selected, industry analysts believe that the entire industry, including players like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and SinglePoint Inc. (OTCQB: SING), will be pleased that qualified patients could soon be able to treat their ailments using medical marijuana.

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

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

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

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

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

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

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

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

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

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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 – USDA Reveals Deadline for the Release of Hemp Regulations

A notice from the U.S. Department of Agriculture published in the Federal Register at the beginning of this week provides insights regarding the department’s plans to release rules that will govern the newly legalized hemp industry.

Of particular importance is the August self-imposed deadline when the final draft rules will be released by USDA. Previously, the department had been noncommittal about when it would finalize these rules. They would simply say that the rules will come out in time for the planting season of 2020.

A USDA spokesperson revealed that the August deadline reflects the best-case scenario, but the process of approving those rules will determine the actual date when they would be published in the Federal Register. This approval process seemingly entails getting the nod from other sister federal agencies.

Under the 2018 Farm Bill, states were empowered to pass their own hemp laws and submit them to the USDA for approval before they start being implemented. So far, the Department of Agriculture has revealed the basics of what they expect to see in the state regulations submitted for approval.

Those requirements include product testing standards, annual inspection and certification requirements, disposal procedures as well as law enforcement compliance measures.

These updates come approximately half a year from the time hemp was descheduled by the federal government with the enactment of the Farm Bill of 2018. There has been sustained pressure on the Department of Agriculture to release its rules but the department had remained evasive on when that would happen.

The notice in the Federal Register therefore comes as good news to all interested parties since it shows that the department has been busy ever since it revealed in March that it had started a process through which information would be gathered to shape the rulemaking exercise.

Until the rules are published, it will be hard for large-scale cultivation of hemp to begin across the country. This is because any company or individual wishing to grow or process the crop must adhere to the rather restrictive hemp rules in the 2014 Farm Act which only catered for research-focused hemp activities.

As the USDA works on the draft rules, they have provided clarification that it is now legal to import hemp seeds, transport hemp products across state lines and also submit intellectual property applications to the department even before the rules are released.

Marijuana industry analysts believe that the entire industry, including companies like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and SinglePoint Inc. (OTCQB: SING), should be relieved now that the veil of uncertainty has been removed regarding when hemp industry rules would be released by the USDA.

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 – New York Legislators Could Vote on Cannabis Legalization This Week

As the countdown to the end of this legislative session in New York State enters the final stages, plans to legalize recreational marijuana have been revived with the possibility of a vote on the matter this week.

While momentum to get recreational weed legal appeared to fade once lawmakers in New Jersey announced that they were giving up on trying to use legislative means to end prohibition, advocates in the Empire State are brimming with optimism that lawmakers may have reached a deal and the bill will pass.

Democrats in both the Assembly and Senate held conferences last week in a bid to discuss the fine print of the legislation. Sources close to those who attended these meetings reported that the conferences went well and that the bill may have enough support to sail through.

On Saturday last week, the staff of the legislative leaders in Senate and the Assembly met those from Gov. Cuomo’s office to talk about the final language of the bill which will be put before lawmakers within the last days of the legislative session.

Earlier on Wednesday last week, the senate version of the legalization bill was given the “same as” status indicating that its language was identical to the language of the version in the Assembly. This is an indicator that both chambers agreed on the wording of the bill, and that is an early indicator of possible success when a vote is called.

The speaker of the Assembly, Carl Heastie (D), revealed on Friday that the Democrats hadn’t yet decided on whether to bring the matter to the floor of the House but added that the bill had support among the Democratic members of the chamber. Despite the optimism, analysts think that the bill is still short by two votes in the state Senate.

Sensing that the bill may soon be up for a vote, key state officials have been urging legislators and the governor to include a given list of provisions in the final text of the bill.

Letitia James (D), the State Attorney General wrote that the bill should include provisions to expunge all previous convictions for non-violent marijuana crimes.

NYC Mayor Bill de Blasio (D) also pushed for expungement and added that the bill legalizing recreational marijuana should aim at empowering local businesses rather than big corporations.

The district attorneys of Albany County and Manhattan jointly wrote an op-ed urging lawmakers to end what they called “staggering inequities” and also promote public safety by enacting the bill to legalize recreational marijuana.

The legislative session will end on Wednesday, so lawmakers have a narrow window within which to schedule a vote in both chambers.

Industry watchers have been wondering whether marijuana industry players like SinglePoint Inc. (OTCQB: SING) and Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (FRA: O3X4) experience as much tension when a major decision is due as what the people of New York State are experiencing in these final days of the legislative session.

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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 – 4 Roadblocks in the Way of Marijuana Franchises

Franchising is one of the giant economic forces in the U.S. given the fact that this business model generated approximately $451 billion in 2018. Are we about to see cannabis enterprises built upon this model? Anyone intending to enter cannabis franchising needs to think about and find remedies to the following major bottlenecks.

Conflicts Between State and Federal Laws

Despite the legalization of marijuana for recreational or medical use in various states across the U.S., cannabis remains a Schedule 1 substance at the federal level. This creates major legal issues for businesses which wish to operate franchises in the cannabis industry. For example, a franchise owner cannot ship products across state lines in order to sell the excess products from one state in another state where supply is limited. This makes the possibility of prices nose-diving a real concern since gluts inevitably result in plummeting prices.

Tax Issues

According to the federal tax code, marijuana businesses aren’t eligible for any deductibles on the costs that they incur during the execution of their business activities. For example, marijuana businesses cannot deduct the cost of buying business premises and yet other enterprises which don’t transact in Schedule 1 substances can claim tax deductions on this business expense. These tax disadvantages mean that cannabis businesses will struggle to be profitable unless they can find ways to be super-efficient regarding non-deductible expenses.

Limited Consumer Awareness

Marijuana has been prohibited for long and certain stereotypes about the substance still exist even where prohibition has ended. Cannabis franchisees would therefore have to do a lot to educate their prospective customers in order to make sales on a consistent basis. This added challenge of performing customer education on an ongoing basis isn’t faced by franchises in other industries, such as the fast foods industry.

Limited Investor Interest

Currently, investors aren’t too eager to put their money in an industry which still faces legal uncertainties. This explains why US-based marijuana companies are generally undervalued when compared to their Canadian-based counterparts, for example. While this limited investor appeal exists, any cannabis franchisers that set up shop may struggle to attract investors unless the legal space changes for the better.

In the true entrepreneurial spirit, every challenge presents a business opportunity. The cannabis franchise space is therefore open for the taking for those individuals who devise ways to bring a franchise concept into the cannabis space in a way that ensures that investors will earn a return despite the challenges above. Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and SinglePoint Inc. (OTCQB: SING) hope that enterprising individuals will take up this challenge and devise franchises which will spur the growth of the cannabis industry even more.

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 – Physician Shortage May Cause Australian Medical Cannabis Program to Fail

While medical marijuana is legal in Australia, many patients are finding it difficult to find physicians who are willing to prescribe the substance. This has forced those patients to resort to illicit sources of medical marijuana in order to alleviate their symptoms.

Qualifying patients, such as Trembath Forster who lives in Canberra, say that they have to travel hundreds of miles to access a doctor who is licensed and willing to prescribe medical marijuana. Such trips are not only financially strenuous but also nearly impossible for patients with mobility challenges.

Trembath Forster reveals that she and other patients have encountered ignorance and outright arrogance when they approached many local doctors about a prescription for medical marijuana. Such doctors have no qualms about putting the patients on any strong opioids or prescription medications available, but they become hostile or evasive when the subject of medical cannabis is raised.

Australian law imposes stringent conditions which must be met before a patient can use medical marijuana. First, the patient must find a doctor who has been licensed to prescribe “unapproved therapeutic goods.”

For a physician to get such a license, he or she must have undergone extensive training and acquired expertise in the condition/disease from which the patient is suffering. The physician should also have undergone training on how to use the “unapproved therapeutic goods” to treat the specific condition for which the patient is seeking medical marijuana as a remedy.

The licensed physician is also expected to monitor the condition of the patient while that patient is using medical marijuana. In other words, the physician is responsible for what happens to the patient as a result of that patient’s consumption of medical marijuana.

Benjamin Graham, the Executive Director of a non-profit called Chronic Pain Australia, explains that those stringent conditions could be to blame for the brick wall patients run into when they talk to their GP about medical marijuana. In Trembath Forster’s case, her GP was sympathetic but lacked the license to prescribe medical marijuana.

Graham added that most patients his organization interacts with say that their GPs are either ignorant about medical marijuana or they are biased against the treatment option. He has hope that as more patients request for medical marijuana, more doctors will undergo the needed training in order to get the license from the Therapeutic Goods Administration of the Australian government’s Department of Health.

Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and SinglePoint Inc. (OTCQB: SING) hope that the authorities in Australia come to the aid of the patients and conduct campaigns to register more physicians on the medical marijuana program. This will make it easier for the patients who desperately need medical marijuana to get a prescription for it.

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 – Patients Still Face Challenges Accessing Medical Marijuana, Toronto Conference Attendees Reveal

One would imagine that once a country or jurisdiction legalizes medical cannabis, then the patients there will find it easy to access prescription medical cannabis products. Sadly, this isn’t the case as panelists and attendees of the Medical Cannabis Conference in Toronto last week revealed.

The first major challenge that medical cannabis patients face is the high prices of products. A clear example of this is in Canada which has had medical marijuana since 2001.

Gerald Major, who is the president of a medical cannabis advocacy group in Canada called Canadians for Fair Access to Medical Cannabis, revealed during the conference that the legalization of recreational marijuana in Canada has made matters worse for patients taking medical cannabis.

For example, the high taxes imposed on recreational marijuana have increased the cost of medical marijuana as well. Additionally, the supply shortages in the recreational segment have also reduced inventory for the medical cannabis retailers, and this has forced patients to underdose or go without medical cannabis for a while.

Furthermore, restrictions that didn’t exist earlier have now been imposed on medical marijuana users as well. For example, no exceptions for medical cannabis patients have been made in the rules governing driving while impaired. Gerald Major says such traffic stops are likely to victimize patients using medical cannabis and yet the patients face a bigger impairment threat from the conditions which they are treating rather than the cannabis medication that they consume.

Patients using medical cannabis in Europe also don’t seem to be faring any better. A panelist from Germany and another from the UK revealed that the red tape one must bear in order to get a medical cannabis prescription is extraordinary.

For example, in the UK, specialist doctors must complete a lot of paperwork to the effect that conventional treatment options have been exhausted and the last resort is to try medical marijuana. The requirements make doctors responsible for treating patients with medical marijuana, but doctors are reluctant to prescribe medical marijuana because they don’t have sufficient literature to enable them feel comfortable about prescribing medical cannabis.

In addition to that, the cost of medical marijuana is very high in European where it is legal, and more than a third of all reimbursement claims to insurance companies are rejected for no clear reason. The lack of insurance cover for medical cannabis has put medical marijuana products out of reach for most patients because the cost is prohibitive.

Sproutly Canada Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) and SinglePoint Inc. (OTCQB: SING) agree with the panelists that urgent steps need to be taken to remove all the barriers to access to medical marijuana in all jurisdictions where it 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.

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420 with CNW – Las Vegas City Council Votes to Allow Marijuana Lounges

On Wednesday (May 1), the Las Vegas City Council voted 4-1 in favor of a proposed ordinance that would see cannabis consumption lounges licensed to operate within the city. This means that the first consumption lounges could open by the end of this year.

Las Vegas becomes the first city in Nevada to pass regulations allowing cannabis consumption venues to open.

Carolyn Goodman, the mayor of Las Vegas, abstained from voting due to a possible conflict of interest. She had earlier revealed that one of her family members works in the cannabis industry.

According to the ordinance passed, cannabis retailers and dispensaries will be free to apply for a special use license which will allow them to open a cannabis lounge. Once the permit is granted, the licensed business can sell cannabis and allow the buyers to consume marijuana on the premises.

The consumption lounge permit will come with a number of conditions. First, such a lounge should not be located within 1,000 feet from a school or a casino. Additionally, each cannabis lounge must have a system to control smoke so that marijuana smoke doesn’t escape to the exterior of the consumption facility.

Another condition in the ordinance states that no one will be allowed to smoke cannabis outside the consumption lounge. Cannabis lounge operators are also barred from allowing alcohol within the consumption lounge.

The ordinance didn’t pass without some opposition. Casino operators were particularly concerned that licensing cannabis consumption lounges would increase the intoxication issues that casinos have to deal with since someone may use cannabis in a lounge and head to a casino where he or she can consume alcohol.

The restriction of the proximity of cannabis lounges to casinos may have been aimed at addressing the concerns raised by the casino owners, but only time will tell how effective that measure will be.

For now, only businesses with a license to dispense cannabis will be eligible to apply for a marijuana lounge permit. Other interested businesses will have to wait for at least 12 months before they can qualify for the permit.

Sproutly Canada Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) and SinglePoint Inc. (OTCQB: SING) applaud Las Vegas for taking the lead in allowing marijuana lounges in the state of Nevada. This step will solve a longstanding dilemma people have had because they could buy marijuana but didn’t have anywhere they could consume it outside their homes. The economy is therefore likely to benefit now that Las Vegas has decided to allow lounges to open.

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