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Cannabis Global CEO Talks Revenue Growth, New Products and Vertical Integration in Light of Possible Federal Cannabis Legalization

LOS ANGELES, CA   March 28, 2022 

Cannabis Global, Inc., an innovation-oriented company investing in disruptive cannabis technologies,

released an update letter from its CEO on recent and upcoming eventsCannabis Global

A considerable amount of attention has been focused on the Cannabis sector with two possible congressional actions to create a nationwide legal framework for both recreational and medical cannabis usage. With increased focus on the sector, I thought it would be an excellent time to provide our shareholders with an update on the very positive developments occurring at our company.

Revenue generation: As we have recently announced, our company is beginning to gain traction, which is clearly being seen in the growth of our revenues across multiple sectors. While we have not yet reported results for our most recently closed fiscal quarter, which ended on February 28, we expect the growth patterns we experienced late last year to continue. This revenue growth is being driven by new products entering the market, an increase in our distribution efforts, and the acquisition of numerous new retail dispensary customers throughout California. We expect these trends to not only continue, but to likely accelerate.

Successful revamping of product mix: As the cannabis consumption in the primary metropolitan areas of California has matured, cannabis customers are demanding a variety of new products. We have followed one of the major growth trends in the industry and revamped our product offerings accordingly. Our Live Rosin products, which are produced without any solvents, continue to gain strong traction with multiple orders coming into the company. As a result, we have significantly geared up our manufacturing capability in this area. We are expecting the solventless trend to accelerate as we move throughout 2022.

Product line acquisitions: We recently announced the acquisition of several product lines from a successful branding and marketing group, Caliwanna. These grants are now being marketed through Cannabis Global and we are working with Caliwanna‘s staff to immediately bring our current products to a much wider dispensary audience throughout California. This will include not only our solventless extract products, but also Live Rosin infused pre-rolls, and cannabis infused edibles.

Vertical integration: While we are more than pleased with our current revenue growth rate, our newly designed products, and our enhanced sales, marketing and distribution capabilities, it is our belief that in order to be truly competitive in the crowded California cannabis sector companies must have elements of vertical integration in order to maintain competitive cost models. Towards this end, we are working quickly to create vertical integration especially related to sourcing raw materials for our solventless products.

Moving forward through the rest of 2022:

We are very optimistic about our future and the rest of this year. We believe we now have the correct mix of technologies, products, and markets to expand further on our already considerable successes over the past few quarters.

About Cannabis Global, Inc. Cannabis Global, Inc. is a Los Angeles-based, fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading under the stock symbol CBGL. We are an emerging force in the cannabis marketplace with a growing product and proprietary intellectual property portfolio.

We are marketing and producing Comply Bag™, an innovative solution for cannabis storage, transport and tracking. Our subsidiary, Natural Plant Extract (NPE), is a Southern California licensed cannabis manufacturer and distributor which licenses our technologies to produce edibles for the cannabis marketplace. Cannabis Global has filed three non-provisional and multiple provisional patents for cannabis infusion and nanoparticle technologies and continues an active research & development program.

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Cannabis Global Announces Financial and Operational Performance Highlights – Revenues Up 2,000% & So Much MORE.

Cannabis Global, Inc. Revenues jump more than 2,000%, Cash up over 1,800%, Expanded product offerings gaining significant traction

Cannabis Global

LOS ANGELES, CA / /April 21, 2022 Cannabis Global, Inc. a licensed Los Angeles-based manufacturer and distributor in the cannabis sector, is pleased to announce financial and operational performance data for the three months ended February 28, 2022.

The past six months represents a breakthrough period for Cannabis Global on a relative basis,” noted Arman Tabatabaei, CEO of Cannabis Global. “We are beginning to see lift-off on our commercial-stage operational model, with extremely rapid topline growth, expanded product offerings, better funding terms, and more strategic opportunities. And all of it comes from the foundation we have put in place over recent years with our R&D focus and our strong IP orientation.”

Financial Performance Highlights for the Period Ended Feb 28, 2022

Total Revenues for the three months ended Feb 28 were $627k, up 2,330% on a year-over-year basis Total Revenues for the six months ended Feb 28 were $1.2M, up 3,860% on a year-over-year basis Cash increased 1,860% year over year to $604k Total Assets increased 34% year over year to $15 million

Operational Highlights for the Period Ended Feb 28, 2022

Signed definitive agreement with Caliwanna brands for comprehensive marketing and sales integration as well as to acquire Caliwanna cannabis brands Summarily restructured short-term convertible debt to reduce dilution risk and position company on more favorable capital terms Announced intention to apply for additional patent protection for its unique inventions for the creation of nanoparticles and nanofibers made for cannabinoids Laid foundation for the launch of an expanded suite of edibles products

Management notes that the Company has witnessed very strong topline revenue growth over the past two quarters as it ramps up commercial stage operations. That growth has been driven by a range of new products recently introduced into the marketplace as well as a widening of the Company’s distribution footprint. Revenue growth is also being driven by the Company’s acquisition of new customers in the retail dispensary space in California. The Company has also benefited from revamping the Cannabis Global product mix to better reflect emerging trends in major California metro areas as these cannabis markets have matured.

Management notes that its recent increased focus on the “solventless” trend has been an important factor, and the Company expects that trend to continue to be a key factor this year. Tabatabaei added, “We have made some key acquisitions that will shape our performance ahead, which we believe will feature accelerating growth. However, we are also focused on establishing a more vertically integrated model so more of that growth goes straight to the bottom line as we scale up further over the year ahead.”

About Cannabis Global, Inc. Cannabis Global, Inc. is a Los Angeles-based, fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading under the stock symbol CBGL. We are an emerging force in the cannabis marketplace with a growing product and proprietary intellectual property portfolio. We are marketing and producing Comply Bag™, an innovative solution for cannabis storage, transport and tracking. Our subsidiary, Natural Plant Extract (NPE), is a Southern California licensed cannabis manufacturer and distributor which licenses our technologies to produce edibles for the cannabis marketplace. Cannabis Global has filed three non-provisional and multiple provisional patents for cannabis infusion and nanoparticle technologies and continues an active research & development program.

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Sometimes, I Wonder. (the D.C. rider) sic

 

Sometimes, I Wonder. Failing to remove the D.C. rider prevents the nation’s capital from using local tax dollars to implement its legal cannabis program

President Joe Biden has once again moved to exclude Washington, D.C. from legalizing marijuana sales as part of the budget proposal for Fiscal Year 2023, which he sent to Congress Monday.

Despite DC voters having overwhelmingly approved cannabis legalization in 2014, the district government has consistently been prevented by a legislative rider from implementing regulated cannabis sales each time the budget comes up. Failing to remove the D.C. rider prevents the nation’s capital from using local tax dollars to implement its legal cannabis program.

“The nation’s capital could be a model for how to get cannabis legalization right. Instead, it’s the very opposite, and President Biden now shares some of the blame, told US Cannabis Council

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CEO Steven Hawkins, adding that the administration is fueling a dangerous gray market in the District of Columbia that operates with no standards or safeguards that targets underage consumers.

 Last week, the Drug Policy Alliance along with more than 50 criminal justice reform, business, labor and drug policy organizations, sent a letter to House and Senate appropriators and Majority Leader Chuck Schumer and Speaker Nancy Pelosi, demanding to keep the removal of the appropriations rider that prevents DC from spending its own money to legalize and regulate adult-use marijuana sales.

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 In an election year with inflation off the charts and a war raging in Eastern Europe that could plunge the US economy into further crisis, one wonders why the administration would not seek to garner votes for its party’s candidates on a relatively non-controversial topic: cannabis legalization.

After all, nearly 70% of the country, Dems and Republicans alike obviously, have expressed their approval of it. And why would the president continually hamstring the nation’s capital wherein an equally vast majority voted to legalize and properly control cannabis?

“No one expects cannabis reform to be top of mind for a president facing down Russia, inflation and COVID-19. However, President Biden has consistently passed up opportunities to make good on his campaign commitments to pardon non-violent offenders, fund expungement programs, boost research and give states autonomy over their medical and adult-use programs,” said USCC’s Hawkins

But, if this bill gets stuck again, there may still be hope for federal cannabis legalization this session. Senate Majority Leader Chuck Schumer has been talking up his own cannabis legalization legislation and recently said there are plans to file it in April. It’s called the Cannabis Administration & Opportunity Act.

Image result for Cannabis Administration & Opportunity Act

His bill would legalize marijuana on the federal level, but ultimately leave it up to states to decide if they want to legalize.

“We should decriminalize marijuana.” – President Joe Biden

tweet this 

 

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That doesn’t bode well for people in a state like Texas, which is actively trying to ban smokable hemp, and psychoactive hemp products like delta-8 THC. A legal decision on smokable hemp in Texas is expected this summer.

“In some cases, the administration has even gone in reverse on cannabis. “

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Marijuana Opportunity, Reinvestment and Expungement (MORE) Act is poised to end up on the House floor next week, Monday March 28th.

Marijuana Opportunity, Reinvestment and Expungement (MORE) Act is poised to end up on the House floor next week

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Rumors of a floor vote, coming from a congressional staffer and a key advocate familiar with the high-level discussions are being fueled by a closed-to-press session held weeks ago by congressional Democrats at a party retreat.

The session featured a panel on advancing marijuana reform. Cannabis advocates have been working tirelessly to bring a bill to federally legalize cannabis, to the House floor again this month.

The Marijuana Justice Coalition (MJC), a broad coalition of national advocacy organizations convened by the Drug Policy Alliance, including the American Civil Liberties Union and Human Rights Watch, sent a letter to House Speaker Nancy Pelosi (D-CA) and House Majority Leader Steny Hoyer (D-MD) earlier this month, calling for a floor vote on the bill.

Nadler’s bill was approved 26-15, with 24 Democrats joined by two Republicans at the House Judiciary Committee this session in September.

Congressional Democrats Elevate Marijuana Equity Issues At Retreat Panel Focused On Legalization

Democratic congressional lawmakers convened for a policy retreat in Philadelphia on Thursday that featured a panel on advancing marijuana reform with a focus on promoting equity.

Rep. Barbara Lee (D-CA) moderated the cannabis panel, which largely centered on the need to ensure that those most impacted by prohibition can benefit from federal legalization. The Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, sponsored by House Judiciary Chairman Jerrold Nadler (D-NY), was specifically discussed as advocates push for a floor vote on the proposal this month.

A Democratic congressional staffer familiar with the panel told that “the congresswoman’s feeling is still that racial justice and restorative justice needs to be at the centerpiece of any cannabis legislation that we put forward,” referring to Lee.

Notably, the event took place the day after the Democratic-controlled House approved a large-scale spending bill that continues a long-standing appropriations rider blocking Washington, D.C. from allowing cannabis commerce despite local voters’ approval of legalization at the ballot in 2014.

Industrial Hemp Farm

Despite that legislative setback for reform, sources emphasized that the panel discussion at the retreat focused on ensuring that equity is a focal point of any broader legalization legislation that advances on Capitol Hill.

Supernova Women Executive Director Amber Senter, who is a constituent of Lee’s and participated on the panel, told Marijuana Moment that there was extensive discussion about equity programs and clearing up misconceptions about who would qualify for equity benefits under proposed legalization legislation.

“I’m an operator and owner of a cannabis business in Oakland. And I wanted the lawmakers to understand the difference between social equity and black business,” she said, “because a lot of the lawmakers believe that they’re all the same—that if you’re a black person, you qualify for social equity, and that’s simply not true.”

“They were shocked. They were very intrigued, very engaged and want to follow up to learn how to protect black business,” Senter said.

Attendees seemed “very willing and open to learning more information about what’s happening from the operators’ perspective,” she said. “That was very encouraging. Lots of times in these types of settings, it’s policymakers that are speaking to the legislators, and they rarely get to hear from the operators on the ground who are affected by all these policies.”

Minority Cannabis Business Association (MCBA) Executive Director Amber Littlejohn, who also participated in the session, told Marijuana Moment that “it is encouraging to see House Democrats continue to consider this issue—important enough to dedicate this type of time and thought to it” at the retreat.

“It’s particularly encouraging that the panelists that there were folks that are really centered on equity and ensuring that, as we legalize, it will be rooted in equity,” she said.

That point was echoed by Maritza Perez, another were panelist who serves as director of the office of national affairs at the Drug Policy Alliance. She told Marijuana Moment that the MORE Act “continues to be the most far-reaching bill that addresses social equity in marijuana in Congress.”

Also speaking on the panel was the Brookings Institution’s John Hudak.

This isn’t the first time that congressional Democrats have put marijuana reform on the agenda for similar closed-door retreats. In 2019, Lee and Rep. Earl Blumenauer (D-OR)—who are both co-chairs of the Congressional Cannabis Caucus—also moderated a panel raising the issue to colleagues.

The agenda for that event touched on everything from the consequences of cannabis criminalization to frameworks that states have established as they’ve moved to enact legalization.

While it remains to be seen whether House leadership will put the MORE Act back on the floor this month, as advocates are pushing for, the bill did clear the Judiciary Committee in September. It passed the full chamber last session in a historic vote in 2020.

Ahead of Thursday’s Democratic caucus retreat, a GOP congressman, Rep. Jim Banks (R-IN), made a dismissive comment about the opposite party’s legislative priorities.

As questions were being raised about the timeline for the Democratic retreat amid negotiations over omnibus legislation, he made a sarcastic comment on Twitter: “Oh no! Will this delay the drag show or the discussion on racial equity in the cannabis industry?”

Members of the House Judiciary Committee advanced the bill sponsored by Congressman Jerrold Nadler (D-NY), in September. The bill was approved 26-15, with 24 Democrats joined by two Republicans.

The MORE Act repeals the long-standing federal prohibition of marijuana by removing it from the Controlled Substances Act — thereby ending the state/federal conflict over cannabis policies and providing state governments with greater authority to regulate marijuana-related activities, including retail sales.

“This legislation would end federal marijuana prohibition, address the collateral consequences of federal marijuana criminalization, and take steps to ensure the legal marketplace is diverse and inclusive,” the letter states.

“Mass criminalization and over-enforcement of drug law violations have devastated the social and economic fabrics of entire communities (…) And while Black, Latino, and Indigenous people have carried the brunt of marijuana criminalization, they have been shut out of the regulated marijuana marketplace due to these very same criminal records in addition to financial barriers to entry.” The Coalition praised the MORE Act for its “comprehensive approach,” as the bill would declassify marijuana as a controlled substance under federal law, expunge marijuana convictions, and reduce marijuana sentences.

“The Congressional Budget Office estimates that the MORE Act would have reduced time served by 73,000 person-years, over the 2021-2030 period, among existing and future incarcerated individuals. The bill, after solving the industry’s 280E tax issue, would also place a minor initial five percent federal excise tax on marijuana sales at the manufacturer level in order to fund services in communities adversely impacted by drug prohibition and to build up Small Business Administration programming to support a more diverse and inclusive marketplace with local ownership,” explained the letter.

 

 

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Trulieve Cannabis Corp. to Hold Fourth Quarter and Full Year 2021 Results Conference Call on March 30, 2022

TALLAHASSEE, Fla., March 4, 2022 — Trulieve Cannabis Corp. TCNNF Trulieve” or “the Company”

 

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a leading and top-performing cannabis company in the U.S., will hold a conference call on Wednesday, March 30, 2022 at 8:30 AM Eastern Time following the release of its fourth quarter and full year 2021 financial results.

Chairman, Founder, and Chief Executive Officer Kim Rivers, Chief Financial Officer +

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Alex D’Amico, and President Steve White will participate on the call to review Trulieve’s financial and operating results including recently acquired Harvest Health & Recreation.

Image result for Harvest Health & Recreation.

Interested parties can join the conference call by dialing in as directed below.

Participants are asked to request the Trulieve Cannabis Corp. call. Please dial in 15 minutes prior to the call.

U.S. toll free: 1-844-824-3830 Canada toll free: 1-855-669-9657 International dial in: 1-412-542-4136

A live audio webcast of the conference call will be available at: https://app.webinar.net/m21krRWnGKb

An archived replay of the webcast will be available at: https://trulieve.gcs-web.com/events-presentations

 

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Eco Innovation Group Receives Notice of Allowance for Supercritical Plant Extraction Technology

VAN NUYS, Calif., March 17, 2022- Eco Innovation Group, Inc, today announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its patent covering methods of extraction of plant materials obtained using Glytech’s supercritical glycerin extraction technology exclusively licensed to ECOX.

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Eco Innovation Group, Inc

 

“We are delighted to hear this positive news from the U.S. patent office, ” said Julia Otey-Raudes, Chief Executive Officer of Eco Innovation Group, Inc.

“Glytech continues to make significant progress in making the technology available to the extraction industry including cannabis, perfumes, cosmetics and other products. The plant extraction method promises to reduce waste from vaping cannabis and to provide better standardization of extracts in products. “We believe Glytech’s promising extraction performance and favorable safety profile, coupled with its differentiated mechanism of action, position supercritical glycerin plant extraction as a key method to be considered in the cannabis and marijuana extraction industry,” said Otey-Raudes.

This decision by the U.S. patent office represents a key milestone in the alignment of ECOX’s global patent strategy with our green and sustainable development path.”

About Glytech, LLC On December 16, 2020, Eco Innovation Group, Inc. entered into a Global Exclusive License Agreement with Glytech LLC, a California limited liability company (“Glytech”), and Demitri Hopkins, the coinventor with Michael Willems of the Glytech supercritical plant extraction technology (“Hopkins”). Under the terms of the Exclusive License Agreement, the Company exclusively acquired a license to the intellectual property rights from Hopkins and Glytech to commercialize the extraction technology.

Representative Glycan Structure and its Explanation.

 

About Eco Innovation Group

Eco Innovation Group was founded by Inventors and Business Professionals to help nurture and catalyze the most innovative and impactful products and services, and to deliver those innovations to the world, improving the quality of life in our communities and the world around us, while delivering value to our shareholders.

At ECOX, we are dedicated to developing and commercializing successful products. But we will never lose sight of the fact that we exist, first and foremost, to help people and improve life on the planet we all share. We take our Social Responsibility Contract seriously in all our endeavors. It is not only what we do. It is who we are.

About Eco Innovation Group an innovative company aggregating investments in new technologies that promote environmental and social well-being and the advancement of green energy solutions

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