BudTrainer™ Launches the BudCups™: The Earth-Friendly, Root-Friendly Alternative to Single-Use Seedling Pots and Cups
11/28/2023
Announcement
In another move towards sustainable gardening, BudTrainer just announced the launch of their 4th product, the BudCups: a reusable, better-performing alternative to single-use seed starting cups and pots. Engineered to optimize root development, the BudCups are a patent-pending invention set to redefine the standards of not just planting and transplanting, but environmentally responsible gardening.
First, they’re dishwasher-friendly, made from 100% recycled and food-grade plastic, and designed to be reused indefinitely, making them the most earth-friendly choice for gardeners committed to reducing waste. They were also designed without a single corner where pathogens can live, turning the washing process into a breeze.
Secondly, the BudCups feature a unique Triple-Drainage system that optimizes for runoff flow, promoting the best drybacks, ensuring optimal root health and growth, and preventing root rot or other pathogenic diseases.
The best part? The BudCups’ Shock-Free Transplanting mechanism was designed not only to minimize transplant shock to the roots, but also to make it easy and clean to transplant. Just pop the bottom, and the entire root ball comes out, untouched.
Henrique Dias, the innovative founder of BudTrainer, states, “Our vision with BudCups™ goes beyond just creating a better gardening container. We’re introducing a sustainable practice in home gardening, merging the love we have for the plant with the care we have for the planet.”
About BudTrainer™
BudTrainer™ is an innovative designer of cannabis gardening products and a community leader in the cannabis space. Renowned for its high-quality, earth-conscious, and user-friendly products, BudTrainer empowers home growers to achieve superior results in their gardens.
To purchase your BudCups on Indiegogo, visit this LINK, and to check out BudTrainer, visit this LINK.
oHHo’s Community Program Offers CBD Affiliate Opportunities
11/14/2023
Announcement
oHHo, a leading provider of high-quality hemp products, is offering a Community Program designed to foster sustainable affiliate partnerships and promote its mission of providing premium CBD products. This initiative offers affiliates an opportunity to earn commissions while contributing to expanding the brand’s reach.
Key highlights of the oHHo Community Program include:
Generous Commissions:
Affiliates can earn a 25% commission on every sale generated through their unique affiliate link.
An additional 10% commission is provided on purchases and sales made by those who join the community through affiliate referrals.
Affiliates can also earn a 10% commission on wholesale accounts.
Monthly Cash Bonus Opportunities
Personal 25% discount on purchases
Additional Perks:
Affiliates have the opportunity to earn free products, exciting trips, oHHo merchandise, and more.
Comprehensive Support:
Dedicated support is readily available to provide affiliates with the resources and assistance they need to succeed.
Marketing Materials:
Affiliates gain access to a library of professionally designed social media assets and educational materials.
Education Program
Joining the oHHo Affiliate Program is a simple process: affiliates can sign up as a Community Connector for $49 and immediately receive their unique URL. They will also gain access to the community platform, which offers a range of tools, resources, and a comprehensive educational program. For those looking to build a team and explore additional earning opportunities, signing up as a Community Builder for $79 is also an option. There are no recurring monthly fees or requirements for participation, making it accessible to all.
oHHo’s mission is centered on sharing exceptional products that positively impact lives. The company achieves this by crafting the cleanest, most sustainable, and high-potency CBD and hemp products available in the market. Every oHHo product is carefully formulated with minimal additional ingredients, ensuring each one delivers its unique benefits while complementing the power of cannabis extracts.
oHHo proudly collaborates with small farms, cultivating areas ranging from 1 to 40 acres, to harness the full spectrum of beneficial compounds found within natural cannabis plants. Rigorous third-party analysis of crude extracts and finished products is conducted to assess potency and purity. Each oHHo product comes with a QR code for transparency, linking customers to a detailed COA (certificate of analysis, a report prepared by the labs that test the product).
As part of its commitment to sustainability, oHHo utilizes sustainable, eco-friendly, and recyclable materials in its packaging. The brand actively seeks biodegradable and compostable alternatives to plastic wherever feasible. oHHo is also a cruelty-free brand, holding Leaping Bunny Certification, as well as a supporter of independent science journalism and medical research via Project CBD.
To explore oHHo’s full product line and learn more about the Community Program, please visit their website.
For inquiries about oHHo’s Community Program and further information about the brand, please contact:
About oHHo: oHHo is a trusted provider of premium CBD products that prioritize quality, sustainability, and effectiveness. With a mission to share life-enhancing products, oHHo prides itself on crafting clean and potent CBD solutions sourced from small farms. The brand places a strong emphasis on transparency, sustainability, and cruelty-free practices to create a positive impact on individuals and the planet.
cbdMD Reduces Year over Year Net Loss from Operations by $55.8 Million
Company Launches HempMD Products and Nutraceutical Brand ATRx with a new Functional Mushroom Product to Expand Growth Opportunities and Markets
December 22, 2023 4:06 PM EST | Source: cbdMD
Charlotte, North Carolina--(Newsfile Corp. - December 22, 2023) - cbdMD, Inc. (NYSE American: YCBD) (NYSE American: YCBD-PA), one of the nation's leading and most highly trusted and recognized CBD companies, and operator of the leading CBD brands – its flagship brand cbdMD, its animal health brand Paw CBD, today announced our quarterly and full fiscal financial results for September 30, 2023.
For Fiscal 2023, we continued to make strong progress on our turnaround, incurring a loss from operations of $22.4 million. This included one-time intangible impairment charges of $13.2 million as required under GAAP due to the decrease of the trading price of our common stock during the quarter (which we believe was in part due to the market reaction to our failed shareholder proposal to convert our outstanding preferred stock and suspension of our monthly cash dividend payment on our preferred stock). Excluding one-time Intangible Impairment Charges, we continue to make significant year-over-year improvements to our operating loss. While our quarterly operating income over the past two years has varied as a result of goodwill and intangible impairment, we have continued to reduce non-GAAP Net Adjusted Operating losses.
"We made significant strides this year on our path to positive cash flow, especially during the second half of the year. We have exhibited operational excellence while we turned over our marketing department, re-platformed our e-commerce system and rationalized expenses across the board. We knew it was going to be a challenging year while we reset the business and are proud of the way our team executed on the challenge," says Ronan Kennedy, cbdMD's Interim CEO & CFO.
"Despite barriers at retail due to our category, we continued to invest in developing new strategic relationships for the cbdMD brand and are excited to announce that cbdMD launched into 160 Sprouts Markets stores across the nation this month. We remain focused on new revenues in early calendar 2024 and are cautiously optimistic about building inertia during 2024," continued Mr. Kennedy.
"While we continue to have a robust pipeline of new and improved CBD products, we have focused on launching 2 new brands, hempMD and ATRx, to provide expanded opportunities for growth despite the impediments to CBD channel growth caused by the current regulatory landscape. hempMD is a collection of curated hemp products primarily designed for sale on Amazon. The ATRx brand is designed to provide functional, non-cannabinoid health and wellness solutions to our customers, with an initial focus on the emerging functional mushroom market. We are excited to announce the launch of the Ultimate Mushroom Daily Gummy, our first ATRx product. The Ultimate Mushroom Daily Gummy's proprietary blend has ingredients which were carefully selected to enhance focus and memory, support gut health, reduce inflammation and boost immunity which pairs well with our core cbdMD products as part of an every-day routine. We are already in discussions about expanding the ATRx line in multiple brick and mortar retailers. Both of these new brands provide opportunities for us to expand beyond current distribution and marketing channels furthering, efforts to reach new customers.
2024 will be a pivotal year for the Company. Re-growing sales and addressing our equity capital structure remain our highest priorities. We believe work completed on the business and brands since June has improved the outlook for the Company, creating exciting new growth opportunities going into calendar 2024," concluded Mr. Kennedy. Highlights for Fiscal 2023 and Notable Business Updates
The Company launched into Sprouts Markets in December of 2023 and looks to further expand during 2024.
The Company re-platformed to Shopify in June of 2023 and launched a site refresh in November 2023 as it works to employ the best-in-class customer experience and optimize its cost structure.
The Company launched into Amazon UK early third fiscal quarter with 6 offerings and looks to further expand its Amazon UK offerings in 2024.
The Company launched hempMD and ATRx brands, expanding our product channels into Amazon US and other more traditional consumer products channels that have historically precluded the sale of CBD products. The Company also intends to launch these new brands into the Amazon UK network in 2024.
cbdMD continues to lead the way in commercializing NSF Certified for Sport® THC Free products, and during 2023 expanded its NSF Certified for Sport® offering to include the widest range of dose formats and the highest CBD strength NSF Certified for Sport®products on the market.
cbdMD expanded its successful line of Delta-9 products by adding additional gummies.
The Company received multiple awards - Paw CBD was recognized with "Dog Hip & Joint Product Of The Year" award from Pet Innovations, cbdMD Freeze roll-on has been named a bronze winner in two distinguished categories at the esteemed Best in Biz Awards. The company's CBD Freeze Roll-On was recognized in the Consumer Product of the Year category, and its popular CBD PM Softgel Capsules - NSF Certified for Sport® were honored in the Best New Product of the Year - Consumer category.
cbdMD announced the publication of the Company's safety data in Regulatory Toxicology and Pharmacology, supporting a safe upper dose of its proprietary Broad Spectrum CBD blend at 1mg/lb of bodyweight daily.
The Company announced partnerships with Lucille Vega, M.D. Financial Highlights from our Fiscal Year 2023:
Net sales totaled $24.1 million in fiscal 2023 or a decrease of 31.7% compared to $35.4 million in fiscal 2021.
Our gross profit for the year totaled 62% in fiscal 2023 compared to 63% in fiscal 2022.
Our loss from operations was $22.4 million in fiscal 2023 as compared to a loss of $78.3 million in fiscal 2022. During 2023 we impaired approximately $13.2 million in intangibles as compared to $60.9 million of goodwill and intangibles in the prior year. Excluding this impairment our non-GAAP loss from operations improved by $8.0 million for fiscal 2023.
Our non-GAAP adjusted loss from operations in fiscal 2023 was approximately $5.5 compared to our non-GAAP adjusted loss from operations in fiscal 2022 of approximately $13.1 million, despite the significant decrease in overall revenue.
Net loss attributable to common shareholders for fiscal 2023 was approximately $26.9 million, or $13.30 per share, as compared to a net loss for fiscal 2022 of approximately $74.0 million, or $55.80 per share. The improvement in fiscal 2023 was principally attributable to the $47 million reduction in net loss.
At September 30, 2023, we had working capital of approximately $3.4 million and cash on hand of approximately $1.8 million as compared to working capital of approximately $10.7 million and cash on hand of approximately $6.7 million at September 30, 2022.
We reported direct to consumer (DTC) net sales of $19.4 million or 80.5% of total net sales in fiscal 2023, a decrease of $6.9 million, or 26.5% from fiscal 2021.
Pursuant to the disclosure requirements of the NYSE American Company Guide Section 610(b), cbdMD is reporting that its audited consolidated financial statements for the fiscal year ended September 30, 2023, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission on December 22, 2023, contains an audit opinion from its independent registered public accounting firm that includes an explanatory paragraph related to cbdMD's ability to continue as a going concern. This announcement does not represent any change or amendment to cbdMD's financial statements or to its Annual Report on Form 10-K for the fiscal year ended September 30, 2023.
We will host a conference call at 4:20 p.m., Eastern Time, on Friday, December 22, 2023, to discuss our September 30, 2023, fourth quarter and full fiscal year financial results and business progress. CONFERENCE CALL DETAILS
Friday December 22, 2023, 4:20 p.m. Eastern Time
USA/Canada:
800-319-4610
About cbdMD, Inc.
cbdMD, Inc. is one of the leading and most highly trusted and most recognized cannabidiol (CBD) brands with a comprehensive line of U.S. produced, THC-free1 CBD products, including NSF Certified for Sport® products, as well as our new Full Spectrum products. Our cbdMD brand currently includes high-grade, premium CBD products including CBD tinctures, CBD gummies, CBD topicals, CBD capsules, CBD bath bombs, CBD sleep aids and CBD drink mixes and an array of Farm Act compliant Delta 9 products. Our Paw CBD brand of pet products includes veterinarian-formulated products including tinctures, chews, topicals products in varying strengths, and our ATRx brand of natural functional mushroom support. To learn more about cbdMD and our comprehensive line of U.S. grown, THC-free1 CBD oil and Full Spectrum products as well as our other brands, please visit www.cbdmd.com, www.pawcbd.com, or ATRxlabs.com, follow cbdMD on Instagram and Facebook, or visit one of the thousands of retail outlets that carry cbdMD's products.
Forward-Looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified using words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict. You are urged to carefully review and consider any cautionary statements, including but not limited to expectations on our ability to continue as a going concern, increasing our revenues, cost reductions, potential need for additional working capital, future profitability, development and sales of new products, and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2023 as filed with the Securities and Exchange Commission (the "SEC") on December 22, 2023 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release. 1 THC-free is defined as below the level of detection using validated scientific analytical methods.
Non-GAAP Financial Measures
This press release includes a financial measure that excludes the impact of certain items and therefore has not been calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). cbdMD, Inc. has included adjusted loss from operations because management uses this measure to assess operating performance in order to highlight trends in our business that may not otherwise be apparent when relying on financial measures calculated in accordance with GAAP. The adjusted operating loss has not been prepared in accordance with GAAP. This non-GAAP financial measure should not be considered as an alternative to, or more meaningful than, net loss from operations as an indicator of our operating performance. Further, this non-GAAP financial measure, as presented by cbdMD, Inc., may not be comparable to similarly titled measures reported by other companies. cbdMD, Inc. has attached to this press release a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure.
CBD of Denver Inc. Announces Continued Growth for Q4, Reflecting on Building a Successful Year
December 28, 2023 7:26 AM EST | Source: CBD of Denver Inc.
Denver, Colorado--(Newsfile Corp. - December 28, 2023) - CBD of Denver, Inc. (OTC Pink: CBDD), reports a strong fourth quarter, with revenues reaching approximately $1,310,000 with a split of approximately $1,134,000 for Luxora and approximately $176,000 for Libra 9.
"Despite a challenging economic environment, the increase in revenue confirms that our strategies are driving growth across both verticals. With a current order backlog of approximately $150,000 for the Anti-Slip product line, we are confidently entering the new year," says Axel Reinke, CEO of CBD of Denver. In early January 2024, CBDD's management team will meet in Berlin to initiate the expansion of the Anti-Slip division. This will involve onboarding new installation and sales teams and beginning the rollout of Anti-Slip solutions in additional German metropolitan areas.
The company attributes its growth to several factors.
"The partnership between EDEKA and the Magic Lappen product is driving sales across various regions in Germany. Additionally, the Libra 9 team's consistent presence at numerous trade shows is enhancing brand recognition and fostering new partnerships. These partnerships range from wine dealers to specialized car cleaning and detailing companies, and include a teleshopping partnership," states Mr. Reinke.
The Anti-Slip division is seeing increased demand due to a novel door cut-out method that converts existing bathtubs into barrier-free walk-in showers. "With the introduction of this new installation method and favorable regulatory changes, we can expand the Anti-Slip product line to a broader customer base. Beginning in January, we will launch new initiatives to fully capitalize on the significant potential we see in this vertical," Mr. Reinke emphasizes.
Luxora's ongoing efforts in the European CBD wholesale market are significantly contributing to growth. "Despite continued market challenges and consolidation in the CBD industry, there is a strong interest in our products. Our partnerships in North and South America are crucial in maintaining our competitive edge and expanding our client network as we explore new markets," remarks Jan Schwager, CEO of Luxora.
HolistiCH GmbH, known for its exclusive THC and CBD dominant strains, is expanding its footprint. The company has formed new partnerships in Austria, strengthening its position as a leading provider of cannabis clones in Europe.
Luxora Solutions is poised to enter the German market, pending the final approval of relevant legislation by the German government. "Several members of the Social Democratic Party have publicly announced that the budget crisis within the German government has postponed the second and third readings of the new Cannabis law until next year. Despite this, we remain optimistic about adhering to our timeline and launching Luxora Solutions in Germany as scheduled," explains Philipp Ferrer, Chief Compliance Officer at Luxora.
The company has hired a new accounting specialist, proficient in both US and European accounting and reporting principles, who has already started preparing the next filings to avoid previous delays. Our goal moving forward is to close each month's accounts by the 10th of the following month and to implement a group-wide reporting system, enabling management to adopt a more data-driven review process that will improve the planning process which will ultimately drive the execution of the developed plan. About CBD of Denver, Inc. (BERLINER INNOVATION)
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values. The Company is offering a number of innovative consumer products through Libra 9 GmbH, such as the Magic Lappen and the BerlinR13 Anti-Slip solution.
Follow Magic Lappen on Twitter, Instagram, Facebook and TikTok for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen
Shop on our website: https://www.the-magic-lappen.com/
Visit the CBDD/ Berliner Innovation: www.berlinerinnovation.de
For questions, please contact us at: investors@libra9.de About LUXORA LLC
LUXORA LLC is a trailblazing entity in the European cannabis industry, with offices spanning the USA and Europe. Our core expertise revolves around unlocking the potential of the legalized cannabis market, offering infrastructure solutions and consulting tailored to the dynamic needs of this rapidly expanding sector. With a profound understanding of the opportunities and challenges brought forth by legalization, our experienced team is dedicated to pioneering the future of the legal cannabis market in Europe. Our offerings range from consulting and market research to product development and distribution solutions, aimed at simplifying the path to legalization for our esteemed clients.
For inquiries, please contact Investor Relations: investors@luxora-holding.com
For more information, please visit: www.luxora-holding.com
Follow Us: Twitter | Instagram. SOURCE: CBD of Denver Inc.
NxGen Brands, Inc. Proudly Announces the Successful Closing of "Mad House Innovations" Acquisition
January 09, 2024 8:12 AM EST | Source: NxGen Brands Inc
Denver, Colorado--(Newsfile Corp. - January 9, 2024) - NxGen Brands, Inc. (OTC Pink: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com) successfully closes its "Mad House Innovations" acquisition. Mad House enjoyed explosive growth in 2023 and we invite the investment community to visit their corporate website to familiarize themselves with their exciting brand: "Mad House Innovations" (www.madhousesupps.com)
Mad House enjoyed $1m in revenues in its initial full year of operations, with growth forecasts from the Company expected to exponentially exceed that in 2024. Revenue share from direct-to-consumer channels represents approximately 35% of total sales, with additional revenue generated from ever-expanding distribution and retail relationships. The company believes that their cutting edge direct-to-consumer business model can be grown significantly throughout 2024 with the addition of marketing capital that NxGen is forecast to spend.
The Company recently announced that Mad House had licensed its products throughout Australia and New Zealand in a deal that is expected to net significant revenues this year as the brand picks up recognition throughout that market with its now emerging and very distinctive branding.
Joseph Lawanson, CEO of NxGen, stated, "Our brand boasts products such as 'High dosed Pre-workout', incredibly effective Amino's, high-end testosterone, hardcore pump product and a great fat burner to provide you with an idea of our exciting product suite. With our now established presence in direct-to-consumer market as well as some of the top brick and mortar stores, we know that we can help the brand grow even more than it already has. We targeted a brand that is now firmly established in an upward trajectory, has a great social media following and can be blown up through social media advertising on Instagram™, TikTok™ and Facebook™. I am very excited to take this brand to the next level and I cannot wait to start sharing our month-over-month revenue growth with shareholders."
NxGen recently announced that it had already completed on its first roll-up by acquiring 'Storm Lifestyle Brands' (www.stormlifestylebrands.com) which was launched in October 2021 to great fanfare at Olympia and has since gone from strength to strength with its Pre-Workout, Burn, Revive and Focus products. This new acquisition, the Company believes, will fit in to a different but equally fast-growing demographic and will, therefore, be a superb fit. About NxGen Brands, Inc.
NxGen Holdings, Inc. is a publicly traded company under the symbol NXGB. The Company is building a profitable Nutritional Supplements company, comprising of several brands. www.nxgenbrands.comhttps://twitter.com/NxGen_Brands Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of NxGen Brands, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of NxGen, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on NxGen's future results. The forward-looking statements included in this press release are made only as of the date hereof. NxGen cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, NxGen undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by NxGen. Corporate Contact: ceo@nxgenbrands.com www.nxgenbrands.com SOURCE: NxGen Brands Inc
Red Light Holland Receives Building Permit for AEM Farms 80,000 Square Foot Mushroom Farm, Adding Substantial Future Production Capacity
New multi million dollar production facility will increase AEM Farm's mushroom production output by approximately 15-18 million dollars of domestic and international annual sales, create jobs in Peterborough, Ontario
January 15, 2024 8:00 AM EST | Source: Red Light Holland Corp.
Toronto, Ontario--(Newsfile Corp. - January 15, 2024) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) ("Red Light Holland" or the "Company"), an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws, is extremely pleased to announce that their portfolio company, AEM Farms in Peterborough ("AEM Peterborough"), has received its building permit from the Township of Cavan-Monaghan permitting it to build an 80,000 square foot state of the art vertical exotic mushroom farm and composting facility. With this permit, Red Light Holland predicts the facility will be able to produce more than 15,000 tons of mushroom compost annually, leading to more than 7,500,000 pounds of fresh mushrooms per year. The Farm build is expected to commence immediately, with the goal of it being completed by the Fall of 2024.
Developed in collaboration with Mike Medeiros (President of Mushrooms Canada and Director of the Canadian Federation of Agriculture) and Fernando Medeiros from Carleton Mushroom Farms, plus Tonia Furlano, Nick Furlano and Steven Rotiroti (Directors of the Canadian Mushroom Growers Association) of Holburne Mushroom Farm and F&R Mushroom Farm, operating under Red Light's flagship farming brand, AEM Farms, the facility will support the Company's global and local operations with high quality, large-scale exotic mushroom production capabilities that will serve the needs of high-in-demand fresh, organic and Canadian made exotic mushroom growth in Canada and the United States.
"Peterborough is a wonderfully supportive agriculture community and we are excited to work closely with the township of Cavan-Monaghan as construction of our facility immediately commences. We are clearly excited to receive the Building Permit for AEM's expanded 80,000 square foot facility and we believe our projected future enterprise value of the farm alone will be a benefit for Red Light Holland and its investors. We will leverage our existing operational expertise to ensure we support the needs of our customers across both Canada and the United States," said Todd Shapiro, CEO and Director of Red Light Holland. A note from our CEO:
"We remain absolutely committed at Red Light (and I say this loudly!) to continue growing the psychedelic side of our business. We are using our continuous source of data collection through customer psilocybin usage from our Netherland's farm grown products (iMicrodose and Maka) which are then sold by our distribution company (SR Wholesale) to advocate for wider spread legalization. We are proud of our self-regulatory mandates as we impact change. As well, we are advancing R&D of our micordosing homogenized capsules with CCrest Labs in Canada, with the aim of receiving a 5th psilocybin Health Canada import license with the ultimate goal of providing access for those in need. In the Netherlands, our magic truffle Farm had a record year in sales and we remain focused on increasing both magic truffle production and sales including our efforts of increased sales in our Mush Room and More retail shops in OSS and Utrecht. I wouldn't be surprised, when comparing Red Light to any other publicly traded company in the world, that we probably have grown and sold more psilocybin than any of them - as we educate and support our clients, with our responsible use policy, telecounseling availability and community events," added Shapiro.
"Mushrooms continue to be hot. Our holistic approach, infrastructure, distribution channels, consumer packaged goods, retail experience and overall farming knowledge positions us to be leaders in these growing categories for both legal consumption and health and wellness. At the end of the day whether you're a shiitake, an oyster, a lion's mane mushroom or a psilocybin based mushroom - the science is proving there are benefits for both mind and body health. We are proud to merge the mycelium network together to end stigmas and focus on help and positive change in the future through psilocybin microdosing capsules but with clear immediate goals of increased sales, increased revenue growth and increased shareholder value due to our current business strategy, hard work and unified vision," concluded Shapiro. Current and Future Updates:
In the near future, Red Light Holland looks forward to sharing details and updates regarding:
Red Light's partnership with CCrest Labs and NUBU Pharmaceuticals in Australia and New Zealand as the company continues to aim to import more psilocybin from the Netherlands with the goal of producing Homogenized naturally-occurring psilocybin microdosing capsules for emerging markets
Red Light's psychedelic division; including increasing production and output in the Company's Magic Truffle Farm in Horst, the Netherlands
Red Light's distribution company, currently selling magic truffles to over 200 smart shops across the Netherlands
Red Light's Mushroom Home Grow Kit division including increased orders last quarter for both of their owned brands - Happy Caps in North America (over 150 retailers) and Mini-Champ in Europe. Updates for Mistercap LLC to come as well
The launch of Red Light's Mushroom Brokerage sales division, lead by Senior VP of Sales, focused on fresh mushroom sales across North America with the goal of immediately increasing revenues
AEM New Brunswick Farm producing shiitake mushrooms which are distributed to 47 Farm Boy stores across Ontario and are also available in over 100 retail stores in Eastern Canada, including Loblaws owned retailers in Ottawa; Costco locations in both Ottawa and Gatineau; and Whole Foods Markets in Ottawa and the consideration of potential retrofits and investment to converting AEM New Brunswick to a cGMP-grade CDS Licensed mushroom cultivation facility (working with hired consultants Cannabis Licensing Experts)
AEM Peterborough Farm construction progress updates
From the beginning, Red Light has and will continue to make significant investments to scale its business in Canada and globally, including building corporate capabilities, developing production infrastructure, consider both M&A activity in both the exotic and psychedelic mushroom sectors and investing in the marketing and development of new value-added consumer products for both the recreational exotic mushroom and potential future psilocybin mushroom markets.
Red Light's total assets as at September 30, 2023: $28.2 million including $16.4 million of cash and cash equivalents and the company has been putting its excess cash to good use through government issued GICs, taking advantage of the current market interest rates to increase our return on investment related to these funds. Research regarding health benefits of mushrooms: https://docs.google.com/document/d/14G4lazUQIg3CtgUscJKK72_S5FQ8VAKKcql2386K9D4/edit?usp=sharing About Carleton Mushroom Farms
Carleton Mushroom Farms, located in Osgoode, Ontario, was founded in 1984 by Mike and Fernando Medeiros' parents and remains a family run business. Mike and Fernando took over day to day operations in 2005. In recent years growing capacity has tripled, and yields have steadily increased to 12 million pounds per year. Carleton Mushroom Farms implements cutting edge technologies from around the world as part of their growing practices. Website: www.carletonmushroom.com. About Holburne Mushroom Farm
Holburne Mushroom Farm, located in Greenwood, Ontario, is a local family owned and operated business that specializes in growing fresh, organic Shiitake and Oyster Mushrooms since 2005. Production of Organic Shiitake and Oyster Mushrooms has steadily increased to current yield of 1.3 million pounds per year. Proudly, the largest fresh, Organic Shiitake Mushroom growers in Canada. Website: www.holburnemushroom.ca. About Red Light Holland
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws. For additional information:
Todd Shapiro
Chief Executive Officer and Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.redlight.co Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.
The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's future growth prospects and intentions to pursue one or more viable business opportunities; the development of the Company's business and future activities following the date hereof; advancing the Company's microdosing homogenized capsules with CCrest Labs; advocate for wider spread legalization and/or immediate access for those in need; focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's plans to positions itself to be leaders in growing categories for legal consumption and health and wellness; the Company's plans to merge the mycelium network together to end stigmas related there to; the Company's on being a part of the positive change in the future through psilocybin macrodosing capsules; the Company's goals of increased sales, increased revenue growth; and the Company will share details and updates of the foregoing as stated.
Forward-Looking information in this press release are based on certain assumptions and expected future events, namely: current and future members of management's ability to abide by the Company's business objectives and strategies from time to time established by the Company; the Company's ability to achieve the performance, meet their business objectives and milestones in their anticipated time and within the anticipated cost; the Company's ability to carry out its performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's ability to carry out its future growth prospects and intentions to pursue one or more viable business opportunities; the Company's ability to carry out its development of the Company's business and future activities following the date hereof; the Company's ability to continue advancing the Company's microdosing homogenized capsules with CCrest Labs; the Company's ability to continue its commitment to advocate for wider spread legalization and/or immediate access for those in need; the Company's ability to remain focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's ability to realize upon its plans to position itself to be leaders in growing categories for legal consumption and health and wellness; the Company's ability to realize its plans to merge the mycelium network together to end stigmas related thereto; the Company's ability to be a part of the positive change in the future through psilocybin macrodosing capsules; the Company's ability to execute upon its plans of goals of increased sales, increased revenue growth; and the Company's ability to share details and updates of the foregoing as stated.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: current and future members of management's inability to abide by the Company's business objectives and strategies from time to time established by the Company; the Company's inability to achieve the performance, meet their business objectives and milestones in their anticipated time and within the anticipated cost; the Company's inability to carry out its performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's inability to carry out its future growth prospects and intentions to pursue one or more viable business opportunities; the Company's inability to carry out its development of the Company's business and future activities following the date hereof; the Company's inability to continue advancing the Company's microdosing homogenized capsules with CCrest Labs; the Company's inability to continue its commitment to advocate for wider spread legalization and/or immediate access for those in need; the Company's inability to remain focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's inability to realize upon its plans to position itself to be leaders in growing categories for legal consumption and health and wellness; the Company will realize its plans to merge the mycelium network together to end stigmas related thereto; the Company's inability to be a part of the positive change in the future through psilocybin macrodosing capsules; the Company's inability to execute upon its plans of goals of increased sales, increased revenue growth; and the Company's inability to share details and updates of the foregoing as stated.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-Looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This press release may contain future oriented financial information ("FOFI") within the meaning of Canadian securities legislation, about prospective results of operations, financial position or cash flows, based on assumptions about future economic conditions and courses of action, which FOFI is not presented in the format of a historical balance sheet, income statement or cash flow statement. The FOFI has been prepared by management to provide an outlook of the Company's activities and results and has been prepared based on a number of assumptions including the assumptions discussed under the heading above entitled "Cautionary Note Regarding Forward-Looking Statements" and assumptions with respect to the costs and expenditures to be incurred by the Company, capital expenditures and operating costs, taxation rates for the Company and general and administrative expenses. Management does not have, or may not have had at the relevant date, firm commitments for all of the costs, expenditures, prices or other financial assumptions which may have been used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not, or may not have been at the relevant date of the FOFI, objectively determinable.
Importantly, the FOFI contained in this press release are, or may be, based upon certain additional assumptions that management believes to be reasonable based on the information currently available to management, including, but not limited to, assumptions about: (i) the future pricing for the Company's products, (ii) the future market demand and trends within the jurisdictions in which the Company may from time to time conduct the Company's business, (iii) the Peterborough Farm's expected revenues of approximately $80,000 per week upon being operational, (iv) the estimated revenue run rate of $15.0 to $18.0 million of domestic and international annual sales per annum when the Peterborough Farm becomes operational and the resulting strong profit margins and cash flow from operations; the cost of the building being in the multiple of millions. The FOFI or financial outlook contained in this press release do not purport to present the Company's financial condition in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented in any such document, and such variation may be material (including due to the occurrence of unforeseen events occurring subsequent to the preparation of the FOFI). The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments as at the applicable date. However, because this information is highly subjective and subject to numerous risks including the risks discussed under the heading above entitled "Cautionary Note Regarding Forward-Looking Statements" and under the heading "Risk Factors" in the Company's public disclosures, FOFI or financial outlook within this press release should not be relied on as necessarily indicative of future results.
Readers are cautioned not to place undue reliance on the FOFI, or financial outlook contained in this press release. Except as required by Canadian securities laws, the Company does not intend, and does not assume any obligation, to update such FOFI. SOURCE: Red Light Holland Corp.
Global Hemp Group Announces Execution of Exclusive Option Agreement to Acquire Serres Theriault (2021) Inc. ("STI"), a Multi-Facetted, Vertically Integrated Cannabis Operator in New Brunswick and Announces Private Placement
January 15, 2024 11:50 AM EST | Source: Global Hemp Group Inc.
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2024) - GLOBAL HEMP GROUP INC. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG0) ("GHG" or the "Company") is pleased to announce that it has executed an Exclusive Option Agreement (the "Agreement") to acquire Serres Thériault (2021) Inc. ("STI"), a multi-facetted vertically integrated cannabis operator in News Brunswick.
This transaction provides the Company a clear pathway to further diversify its activities in the industry and importantly, access to licenses from Health Canada. This will be an important step in furthering the Company's R&D ambitions for its Health and Wellness division, which initial foundation encompasses the Exclusive Licenses relating to key patents and IP acquired from Apollon Formularies plc in 2023. About STI and its Holdings
Company representatives toured the STI New Brunswick facility last week and met with its principals and team members who are responsible for operating the facility. The facility is currently licensed for Cannabis Micro Processing, a Farmgate Retail Store (opening April 2024), Research & Development. The Agreement covers the acquisition of the 8.6-acre compound and its five buildings for production and sales, along with property a 6,000 sq feet of Greenhouse, equipment, inventory, genetics, Intellectual Property, an onsite retail location, and one offsite retail location.
In November 2023, STI's wholly owned and operated offsite retail store located in St. Quentin, New Brunswick, opened its doors to the public. This is one of only eight exclusive private retail outlets located in the province of New Brunswick. STI advises that sales at this retail location have exceeded expectations to date and has already reached profitability.
Pinnacle Farms, a second retail operation owned by STI is slated to open in April 2024. This store will be licensed as a Farmgate retail model operation in New Brunswick with exclusive distribution of products manufactured by STI. This retail outlet is located within the existing compound.
STI's current micro processing license gives it authorization to sell dry cannabis products to provincial authorities and other licensed producers across Canada. The site is currently authorized to sell seven approved products, with seven additional products having been submitted and are pending approval. STI advises that preparations are underway for expansion of the current packaging area, including the addition of authorized activities for processing and transformation, which are pending approval by Health Canada. This addition of activities will allow for sale of cannabis extracts, cannabis topicals and cannabis edibles, with four new cannabis products in these categories ready for submission.
STI is focused on using craft quality cannabis at an attractive price point. In addition, an exclusive deal with a Cannabis Research License located onsite, allows STI to develop exciting new strains, recipes and proprietary products that it will introduce on a national level to first time cannabis consumers, cannabis enthusiasts, and connoisseurs alike. Part of STI's growth strategy entails expansion of its R&D efforts.
Product distribution from Pinnacle Farms, STI's onsite retail store, is expected to begin April. STI is in discussion with a Quebec partner to increase its distribution channels into the provinces of Quebec and Ontario. In addition, STI will upgrade to a Standard Processing, Packing and Sales License, with further upgrades to include a Cultivation License for a one-acre outdoor cultivation site. The compound will encompass every permitted activity in the Canadian Cannabis Industry. Construction for the planned upgrades has already been completed.
STI also has an exclusive agreement with a hemp producer in New Brunswick that will be focusing on production of 500 acres of hemp for cannabinoid extraction of a highly sought after CBG strain for the 2024 cultivation season.
We are pleased with our visit to the STI facilities in New Brunswick. Experience has shown that this industry is very much about the people, and we are confident that we have found a group that we can work with to build a successful business and create shareholder value going forward. DEAL TERMSAcquisition of the Option
The term of the option (the "Option") shall commence on the date of the signing of the Agreement (the "Effective Date") and shall expire upon the earlier of:
the twenty-four (24) months anniversary of the Effective Date (the "Option Term");
the payment of the amount of $1,500,000, ranging from $1,450,000 to $1,600,000 as more fully detailed below; or
the early termination of the Agreement pursuant to Termination below.
To acquire the option, the Company will issue a total of 2,000,000 restricted common shares (the "Common Shares") to STI, and its nominees on the Effective Date. These Common Shares which will carry three separate trading restriction release dates as listed below, will be issued at a deemed price of $0.055 and in accordance with securities regulations that are applicable:
1,000,000 Common Shares that will have the applicable 4 months plus one day regulatory hold period.
500,000 Common Shares to be released on the eight-month anniversary of the Effective Date.
500,000 Common Shares to be released on the twelve-month anniversary of the Effective Date.
Assumption of the monthly mortgage payment of STI's cannabis compound (the "Mortgage Payments") starting the Effective Date, in the amount of $5,850.00.
Assets to be Acquired
The 8.6-acre cannabis compound in New Brunswick includes:
Land, Property and Equipment, which includes five buildings
Licenses for Cannabis Micro Processing, Packaging and Sales
6,000 sq feet of Greenhouse;
One of only eight exclusive private New Brunswick retail outlets
Exclusive partnership deal with Hemp License holder
Exclusive partnership deal with Cannabis Research License holder
Intellectual Property associated to 12 cannabis recipes poised for near future distribution
Partnerships with strain developers of Genetics including strains with high value CBD, CBG, CBN, THVC
Purchase Price for the Assets of STI
Cash Payments
$50,000 to be paid on the first, fourth, seventh, and tenth month following the Effective Date (the "First Year Payments").
The balance of $250,000 to be paid by the closing date upon exercise of the Option (the "Closing Date") if GHG exercises the Option within a year from the Effective Date, with applicable deductions made from the Mortgage Payment.
If GHG does not exercise the Option within the first year and the First Year Payments are not paid, GHG will pay a lump sum amount of $600,000 on the Closing Date, with deductions made from any First Year Payment and Mortgage Payments.
Non-convertible note of $1,000,000 bearing an interest rate of 8% per annum and matures twenty-four (24) months from the Closing Date
2,000,000 Common Shares will be issued to STI or its nominees which will carry three separate trading restriction release dates as listed below, and will be issued at a deemed price that will be based on the closing market price of the Common Shares on the CSE on the trading day prior to the Closing Date and in accordance with securities regulations that are applicable:
1,000,000 Common Shares that will have the applicable 4 months plus one day regulatory hold period
500,000 Common Shares to be released on the eight-month anniversary of the Closing Date.
500,000 Common Shares to be released on the twelve-month anniversary of the Closing Date.
Assumption of Liabilities
GHG may elect to assume a debt, an obligation, and liability (each, a "Debt") owed by STI of every kind or nature during the term of the Option.
In the event GHG does not exercise the Option, the Debts will be treated as a loan which will bear an interest rate of 8% and a term of twelve (12) months from the date GHG provided to STI a notice to not exercise the Option.
In the event that GHG exercises the Option, GHG will assume all Debts and liabilities of the STI which currently totals $1.34 million.
Board Appointment
GHG granted STI the right to appoint one of its members to the board of directors of GHG, subject to corporate and securities laws compliance by the nominee. No Shop Clause
During the term of the Option, STI and its affiliates and their directors, officers and similar agents shall not solicit, initiate or encourage the submission of any proposal or offer from any person relating to the acquisition of the Business or any portion of its Assets. In the event of any breach of this clause, STI shall pay a break-up fee of CDN$500,000 to GHG. Termination
The Option Agreement may be terminated, and the transactions contemplated may be abandoned at any time prior to Closing:
by mutual written consent of GHG and STI;
by GHG or STI if the Closing shall not have occurred on or before the two-year anniversary of this Agreement; provided that the right to terminate the Agreement shall not be available to any party whose failure to fulfill any of its obligations under this Agreement has been the cause of, or resulted in, the failure of the Closing to occur on or before such date; and
by GHG at any time upon ninety (90) days' prior written notice to STI.
Debt Restructuring and Settlement
Further to the company's news release of September 19, 2023, the Company has settled $150,000 of its outstanding long term unsecured debt (due March 8, 2025) for units at $0.05 per unit. Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one non-transferable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 per share, exercisable until January 15, 2027. The remaining balance of $300,000 plus accrued interest at 12% per annum, will continue to accrue interest until maturity on March 8, 2025, if not converted prior to maturity into units with the same terms and conditions as the above referenced initial debt settlement amount.
The Company also wishes to announce that it intends to complete a non-brokered private placement of up to 15,000,000 units (each a "Unit") at $0.05 per Unit for gross proceeds of up to $750,000 (the "Offering"). Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one non-transferable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 per share, exercisable until January 15, 2027. The Company intends to use the net proceeds from the Offering for general working capital purposes. It is anticipated that this placement will close in multiple tranches, with the first tranche of $67,500 for 1,350,000 units expected to close in one week.
All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and one day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. In connection with the Offering, the Company may pay certain eligible finder's a fee equal to 8% of the gross proceeds from the Offering and issue Warrants, equal to 8% of the total number of Units sold. About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG0) is a dynamic company currently focused on two key business segments - Industrial Hemp and Biopharma.
The Industrial Hemp division's primary focus lies in the environmental uses of hemp for construction and hemp for sustainable bio-energy sources, both contributing to a carbon-negative footprint. Our R&D team is engaged in developing Intellectual Property that can be patented and implemented within our projects and beyond.
The Health and Wellness Division is focused on the acquisition of exclusive patents and IP through licensing agreements. The Company acquired exclusive rights to key patents and IP of Apollon Formularies plc., a UK-based international pharmaceutical company whose formulations and patents specialize in developing cancer treatments from natural biologics, including cannabinoids and functional mushrooms. More recently, the Company has signed a Letter of Intent with B-Organic R&D Corp. relating to the use of their Bioactive Lipid Agents ("BLA") technology with cannabinoids, terpenes, flavonoids and mushroom extracts. BLA enhances the solubility and bioavailability of various "poorly soluble pharma ingredients".
These strategic alliances form the basis for the commercialization of promising independently pre-clinically tested formulations, underscoring our commitment to cutting-edge innovation in the commercial biopharma sector.
Cautionary Note Regarding Forward-Looking Statements Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, the legality of cannabis and hemp. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. SOURCE: Global Hemp Group Inc.
Biden issues pardons for certain marijuana offenses
Dec. 22, 2023, 5:00 AM PST / Updated Dec. 22, 2023, 8:45 AM PST
By Elyse Perlmutter-Gumbiner and Megan Lebowitz
WASHINGTON — President Joe Biden issued a proclamation to pardon certain marijuana offenses Friday, building on broader action he took last year for thousands of people convicted of possession under federal law.
The new pardons target "additional offenses of simple possession and use of marijuana under federal and D.C. law," Biden said in a statement. The proclamation includes offenses related to "use and possession on certain Federal lands," provisions that weren't covered by the 2022 proclamation.
"Criminal records for marijuana use and possession have imposed needless barriers to employment, housing, and educational opportunities," Biden said in the statement. "Too many lives have been upended because of our failed approach to marijuana. It’s time that we right these wrongs."
He also called on governors to take similar actions with state marijuana-related offenses, arguing that no one should be in jail or prison "solely due to the use or possession of marijuana."
It was not immediately clear how many people would be affected by the new pardons.
The Department of Health and Human Services recommended in August that the Drug Enforcement Administration ease marijuana restrictions by moving it to a Schedule III drug, which would be a significant change to federal drug policy. The DEA still classifies marijuana as a Schedule 1 drug, alongside drugs such as heroin and LSD. Most states allow marijuana use in some form, such as recreationally or for medical purposes.
Biden on Friday is also commuting the prison sentences of 11 people convicted of nonviolent drug offenses, including some who have received mandatory life sentences.
"Due to reforms, each of these clemency recipients would have been eligible for reduced sentences, had they been sentenced today," a White House official said in an email. "This clemency grant represents the President’s commitment to addressing unjustified disparities in sentencing."
Biden has granted clemency several times since he took office, most recently in April to 31 people convicted of drug-related offenses.
During his 2020 campaign, Biden called for the automatic expungement of cannabis use convictions
Weedmaps Data Finds ‘Green Wednesday’ Cannabis Sales Outpace Black Friday Sales
Wed / Nov 29th by TG Branfalt
Data from the cannabis tech company Weedmaps found that retail cannabis sales on the day before Thanksgiving — dubbed “Green Wednesday” by the industry — surpassed average cannabis sales on Black Friday.
Cannabis sales on the day before Thanksgiving surpassed sales on Black Friday, accounting for 21% of the weekly gross market value over the holiday week, according to order data from Weedmaps. The day before Thanksgiving has been dubbed “Green Wednesday” due to historically strong cannabis sales.
Weedmaps saw 42% growth in total order volume on Green Wednesday and the average basket value that day was 103% higher than the average Wednesday during the month of November; however, the day’s gross market value was down 4% compared to Green Wednesday 2022.
Orders for edibles increased most significantly on Green Wednesday, according to Weedmaps data, up 81%. Edibles also held six of the top 10 products sold on Green Wednesday – last year the category held five of the top 10. Vape pen orders also increased by 52% and flower increased by 48% over the average Wednesday in November, according to Weedmaps data.
So far this year, edible products hold seven of the top 10 selling products, while vape and flower products each hold two spots, according to Weedmaps data, which notes that while flower is still the most purchased product category overall, the firm reports an 18.5% year-over-year increase for edible products compared to a 9.37% increase in flower.
Press release originally published on Ganjapreneur
Author Al Byrne’s New Book, "For Country and Cannabis," is a One-of-a-Kind Memoir That Shares the Author’s Experiences as an Advocate for Therapeutic Cannabis
Carrabelle, FL, September 22, 2023 --(PR.com)-- Al Byrne, a graduate of the University of Notre Dame, has completed his new book, “For Country and Cannabis”: a five-decade-long history that teaches readers about government lies, malfeasance, and injustice to groups of U.S. citizens and individuals who wanted the option of using therapeutic cannabis as part of their treatment protocols.
Author Al Byrne earned a BA in economics from the University of Notre Dame and was the starting wing on the ND Rugby team for three years. Completing the four-year Navy ROTC program, he was commissioned and served on a destroyer, USS “Gyatt, DD-712”; as a navy adviser in Vietnam; at various U.S. naval installations; and as a navy Seabee before retiring with twenty-four years of service.
In 2007, Al cofounded Veterans for Medical Cannabis Access, a national all-volunteer Veteran service organization responsible for negotiating the first positive Veterans Health Administration medical cannabis policy in 2010. VMCA has since won legal status for cannabis treatment for PTS(d) in numerous US states and territories.
Al has co-hosted VMCA’s “Veterans’ Voices” for over seven years, now as a podcast on YouTube and Facebook. He lives in northwest Florida with golden retrievers and is a member of the American Legion, the Veterans of Foreign Wars, and Disabled American Veterans.
Al writes, “Cancer kills by causing so much pain, weakness, and physiological disorder to the affected system that the very act of eating can become revolting to impossible. If you add to this nightmare the deliberate poisoning of the cancer patient, a procedure called chemotherapy, the resulting reaction of the human body can, and often is, total incapacitation. All of us have had some experience with vomiting. Think of the worst nausea you have ever experienced, a seasickness so debilitating you swear you would rather be dead, dry heaves on and on like with the alcohol poisoning the morning after a drunk night. For my dad, a cancer patient, the waves of dizziness and pain burned his guts not just for an hour or a day but many days or a week straight.”
Published by Page Publishing, Al Byrne’s intriguing tale is a love story that offers a glimpse into the rigors of a navy career and a look at a legal, social, and financial war waged over an herb.
Readers who wish to experience this remarkable work can purchase “For Country and Cannabis” at bookstores everywhere, or online at the Apple iTunes Store, Amazon, Google Play, or Barnes and Noble.
For additional information or media inquiries, contact Page Publishing at 866-315-2708.
About Page Publishing:
Page Publishing is a traditional, full-service publishing house that handles all the intricacies involved in publishing its authors’ books, including distribution in the world’s largest retail outlets and royalty generation. Page Publishing knows that authors need to be free to create, not mired in logistics like eBook conversion, establishing wholesale accounts, insurance, shipping, taxes, and so on. Page’s accomplished writers and publishing professionals allow authors to leave behind these complex and time-consuming issues and focus on their passion: writing and creating. Learn more at www.pagepublishing.com.
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