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Square Launched For CBD Cannabis Company Credit Card Processing.

Companies that sell cannabis products—even those consisting of CBD derived from hemp, which was legalized in the U.S. through the Farm Bill late last year—are continuing to have trouble accessing basic financial services that are available to businesses in other sectors. That includes being able to maintain bank accounts and process their customers’ credit cards.

The latter problem could be solved under a new pilot program that has quietly been launched by the payment processing service Square.

“Square is currently conducting an invite-only beta for some CBD products,” a spokesperson for the company said in an email.

When asked about the reasons for the launching the new program, which comes after years of refusing to work with CBD companies, the spokesperson said that the company closely watches evolving public policies and strives to create new opportunities for clients.

In any case, Square’s beta effort comes just at the right time for businesses in the growing CBD space. This month, US Bank subsidiary Elavon, which has until recently handled payment processing for companies selling products with the non-intoxicating cannabis compound, is moving to shutter those accounts.

Last week, Rep. Andy Barr (R-KY)pressed federal financial regulators about the issue during a hearing.

“I’ve had constituent businesses tell me that their access to financial products, specifically card services, have actually deteriorated since we de-scheduled industrial hemp in the Farm Bill,” he said. “This obviously conflicts with congressional intent.”

In April, Senate Majority Leader Mitch McConnell (R-KY) and Sen. Ron Wyden (D-OR)—who together championed hemp’s legalization through the Farm Bill, sent a series of letters to various federal agencies pushing for new guidance about financial services access for hemp businesses.

“While some financial institutions have agreed to offer financial products to the growing hemp industry, many of them have not due to confusion over the legal status of hemp,” the bipartisan duo wrote. “However, as hemp is no longer a controlled substance, financial institutions should feel secure in engaging with this industry.”

Square’s entry into the CBD space comes as federal legislation to allow broader access to financial services for marijuana businesses is gaining momentum in Congress.

In March, the House Financial Services Committee voted 45 to 15 to approve a bill to shield banks from being punished by federal regulators for working with state-legal marijuana businesses. That legislation now has 184 cosponsors—significantly more than a third of the chamber’s membership, and a floor vote is expected within the next several weeks.

A companion Senate bill has 29 lawmakers signed on, but Banking Committee Chairman Mike Crapo (R-ID) has so far refused to commit to even holding a hearing on the proposal.

But outside groups that do not traditionally support marijuana law reform are exerting pressure on Congress to act.

Bankers associations from all 50 states sent a joint letter urging Crapo to move the cannabis financial services legislation forward.

Earlier last month, members of the National Association of Attorneys General, which represents the top law enforcement officials in each state, sent a similar letter endorsing the marijuana banking bill.

The National Association of State Treasurers adopted a resolution supporting a legislative fix, writing that “cash-based systems are inefficient, expensive, and opaque, making illicit activity more difficult to track and posing a significant risk to public safety by increasing the likelihood of violent crime.”

 

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Live Investor Conference & Webinar: Cannabis Industry Companies Present June 4th Cannabis Company Executives share vision, answer questions live at VirtualInvestorConferences.com

NEW YORK, May 31, 2019 /PRNewswire/ — Virtual Investor Conferences and KCSA Strategic Communications today announced the agenda for the upcoming Cannabis Industry Virtual lnvestor Conference. Individual investors, institutional investors, advisors and analysts are invited to attend. The program opens at 8:45 AM ET, with the first live webcast at 9:00 AM ET, on Tuesday, June 4th, 2019.
REGISTER NOW AT: https://tinyurl.com/June4CannabisVIC
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There are no fees to log-in, attend the live presentations or ask questions.
June 4th Agenda: 

Eastern Time
(ET)

Presentation

Ticker(s)

9:00 AM

Better Choice Company Inc.

(OTCQB: BTTR)

9:30 AM

Cardiol Therapeutics

(OTCQX: CRTPF | TSX: CRDL)

10:00 AM

MTEC/ MJFreeway

(NASDAQ: MTEC)

10:30 AM

Aurora Cannabis Inc.

(NYSE: ACB | TSX: ACB)

11:00 AM

KushCo Holdings

(OTCQX: KSHB)

11:30 AM

iAnthus Capital Holdings, Inc.

(OTCQX: ITHUF | CSE: IAN)

12:00 PM

State of the Union                                                                      
Presented by Matt Hawkins, Managing Partner of Cresco Capital Partners, LLC

Educational Session

12:30 PM

Khiron Life Sciences Corp.

(OTCQB: KHRNF | TSX-V: KHRN)

1:00 PM

Terra Tech Corp.

(OTCQX: TRTC)

1:30 PM

DionyMed Brands Inc.

(OTCQB: DYMEF | CSE: DYME)

2:00 PM

Valens GroWorks Corp.

(OTCQB: VGWCF | CSE: VGW)

2:30 PM

Harvest One Cannabis Inc. 

(OTCQX: HRVOF | TSX-V: HVT)

3:00 PM

Nabis Holdings Inc.

(Pink: INNPF | CSE: NAB)

3:30 PM 

Indus Holdings, Inc.

(CSE: INDS)
“The Cannabis Virtual Investor Conference has proven itself to be an invaluable platform for connecting our clients with investors, from the most prominent hedge funds, to the average retail investor,” said Phil Carlson, Managing Director at KCSA Strategic Communications. “We have seen attendance grow steadily since the conference’s inception nearly three years ago, and we believe expanding access to the management of high-growth cannabis companies is vital for companies looking for increased stock liquidity, an expanded investor base, as well as the runway to speak to their recent operational achievements and outlooks.” 
To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit 
www.virtualinvestorconferences.com. 

About Virtual Investor ConferencesSM
Virtual Investor Conferences is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access.  Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

About KCSA Strategic Communications 
KCSA is a fully integrated communications agency specializing in public relations, shareholder communications and social media, with expertise in cannabis, financial and professional services, technology, healthcare, digital media and energy. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm’s clients are its best references. For more information, please visit www.kcsa.com or https://www.kcsa-cannabis.com/

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Thriving Hemp Industry is About to Create a Jobs Boom in the US — Underground News Wire

 

Originally published on May 29, 2019 at 11:28 pm
Written by Emma Fiala
Thanks to a provision in the 2018 Farm Bill, hemp is no longer a federally illegal controlled substance in the Unites States. The passage of the Farm Bill allows farmers and cultivators to grow the once demonized cannabis plant and even restart long forgotten operations.
As it turns out, legally allowing farmers to grow the plant and sell it to processors is having a massive effect on employment in the United States, across multiple sectors. The hemp industry took in $1.1 billion in revenue in 2018 and is on track to more than double that in 2022, with $2.6 billion in revenue, according to New Frontier Data.
The effects of the hemp boom will be felt far from the agriculture fields and even the hemp processors, with job growth expected in the form of “accountants, lawyers, compliance officers, government regulators, IT specialists, financial and insurance experts, transporters, researchers and lab technicians, marketers, CFOs, CEOs and various retail employees,” according to CNBC.
“Job creation is going to happen in every economic bracket,” said the executive director of the DC-based National Hemp Association, Erica McBride Stark.
“The hemp industry will create high-skilled management jobs, labor-type jobs and everything in between. It’s going to touch all of society.”
Stark recently returned from the 6th annual NoCo Hemp Expo in Denver, Colorado. More than 225 exhibitors and 10,000 attendees were present—twice the size of last year’s gather.
Indeed, the online job listing search engine, reported an increase in job openings in hemp-related industries this year and HempStaff has seen hemp related jobs double in the last year.
And while hemp is federally legal in the United States, only 41 states allowed the cultivation of hemp as of February and only 24 states had farmers actually growing it last year, which means there is plenty of room for growth and expansion. According to NBC, “Total hemp acreage in the U.S. was at 78,176 acres, up from 25,713 in 2017,” with the average increasingly considerably over the next few years.
It should be noted, too, that despite hemp’s new federal status, the Farm Bill stipulates that individual states can choose to establish their own agriculture and commerce programs, or not. As of February, 41 states allowed cultivation of hemp for commercial, research or pilot programs, although only 24 states had farmers actually growing hemp last year.
While hemp can be used for a wide variety of things including textiles, building materials, and food, the primary focus and most trending use of the plant is for producing CBD oil. CBD oil is made from the flowers, buds, and seeds of the hemp plant.
CBD oil is a non-psychoactive phytocannabinoid found in cannabis plants. It has been shown to aid users in treating anxiety, arthritis, pain, depression, and more and is being used with increasingly frequency to relieve pain associated with cancer and cancer treatment and in an attempt to treat the cancer itself.
In 2018 alone, CBD-containing products generated $390 million in sales in the U.S. and that number is predicted to reach $1.3 billion by 2022.
Presently, an epilepsy drug called Epidiolex is the only CBD product approved by the U.S. Food and Drug Administration even though a wide array of CBD products are available online and over-the-counter at mainstream stores like Walgreens, CVS, and Bed Bath and Beyond. The FDA is still finalizing regulations associated with those products and has a public hearing scheduled for May 31 in Silver Spring, MD.
According to the FDA, the agency is “concerned” about the rapid increase in CBD-containing products “marketed for therapeutic or medical uses.”
“The agency has and will continue to monitor the marketplace and take action as needed to protect the public health against companies illegally selling cannabis and cannabis-derived products that can put consumers at risk and that are being marketed for therapeutic uses for which they are not approved. At the same time, FDA recognizes the potential therapeutic opportunities that cannabis or cannabis-derived compounds could offer and acknowledges the significant interest in these possibilities.”
Despite the FDA’s concern, all signs point to a continued booming of the hemp industry, with CBD products leading the way. “Whereas legal marijuana is expansively regulated — from seed to sale, as they say in the cannabis world — hemp will enjoy less stringent oversight, since its no longer classified as a drug, potentially attracting a much wider variety of established and start-up companies,” reports NBC.
Joy Beckerman, president of the Hemp Industries Association, predicts:
“Hemp is going to dwarf marijuana for jobs. There are so many companies looking for people right now with industry experience and talent.”
“Hemp is here to stay,” said one farmer who transitioned 40 acres of his tobacco farm to hemp, “This is not some fad.”

As far as the many of the rest of the U.S. citizens may be concerned, it may be wait and see. For those in the know, time is running out to become involved in some capacity. At hempSMART, YOU CAN BE A PART OF THE KNOWING AND GROWING COMMUNITY. CLICK ON THIS PARAGRAPH TO LEARN MORE ABOUT HEMPSMART PRODUCTS AND OPPORTUNITIES FOR YOUR HEALTH, WELLNESS AND PEACE OF MIND. ALL USA MADE.

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Think This Was Busy Week For CDB? Just Be Prepared For July 1st!

It’s been a busy week in terms of CBD regulation, with the TSA now allowing hemp-derived CBD on flights and the FDA holding its first public hearing to discuss how to approach the topic of CBD supplements and food additives. Also, we learned whether it can be taken into a hotel or not and that patients in Colorado can now choose cannabis as an alternative medication to pain killers. HempSMART literally drops MSRP of their CBD drops by 20%. And, did you know that cannabis is said to date back 28 million years to ancient Tibet?

All that in one week. June promises to be just as newsworthy as July 1st will be the official legalization of state legislation in many states including Florida and Texas. Companies that have been selling CBD products will need to adhere to Quality and 3rd Party Testing to be able to market their products. Great for the consumer interests.

The FDA held its first public hearing to discuss CBD regulations

On Friday, May 31st, the FDA met with hundreds of CBD industry stakeholders to discuss how they should proceed with regulations. This historic meeting lasted nearly 10 hours and included testimony from regulators, health professionals, advocates, opponents, and consumers – most of which encouraged the FDA to speed up their pace in creating appropriate regulatory framework for CBD products. 

 TSA updates policy to allow hemp-derived CBD on flights

Until now, CBD has been banned from American airports due to the strict Schedule 1 status. But recently, the TSA amended their policy to allow hemp-derived CBD products on all domestic and international flights. It’s great news for people who need CBD for medical reasons and were fearful to travel with it. However, unless TSA agents can differentiate between hemp-derived CBD and cannabis-derived CBD, how will this be enforced?

Patients in Colorado can now choose cannabis as alternative medication

The Colorado Assembly just passed the bi-partisan, Senate Bill 13 which allows patients to choose medical cannabis as an alternative option to pharmaceutical drugs. This comes in the wake of the opioid epidemic, which has reached epic proportions. It’s believed cannabis can help manage pain and keep people off prescription pills, and Colorado isn’t the first state to draft this type of legislation.

Are there any negative side-effects from using CBD?

CBD has been known to help people find relief when they need it most. It’s used regularly to treat a huge range of conditions including anxiety, Multiple Sclerosis, insomnia, and even rare forms of childhood epilepsy. It’s said to be abundant, effective, and completely natural. By and far, CBD has been working well for the majority of people who use it. But are there any negative side effects from using it regularly?

Can you take cannabis to hotels in legal states?

Cannabis has been under prohibition for decades, and as such, the newfound legalization has raised many questions. For example, how do vacations work? Can you bring cannabis in a hotel room in a legal state? Typically, cannabis can only be consumed on private property, but as more states and countries continue to legalize, accommodations need to be made for those who have to travel regularly.

New study traces cannabis back 28 million years to Tibet

A new study published in the Journal of Vegetation and Archaeobotany traced the cannabis plant back to its proverbial roots to find its most ancient descendant. Their research led them all the way to a specific area of the Tibetan Plateau 28 million years ago. The paper is titled “Cannabis in Asia: Its center of origin and early cultivation, based on a synthesis of subfossil pollen and archaeobotanical studies.”

Start your morning off right with a hot cup of CBD coffee

For millions of people out there, the day doesn’t even begin until they’ve had their cup of coffee in the morning. And now that CBD has become so popular for its various medical benefits, it makes perfect sense that these two amazing compounds have joined forces. Nowadays you can find CBD-infused coffee beans and cafes that offer a few drops of CBD oil in their cappuccinos, or you can get some tincture and make some at home every morning!

More pet owners are turning to CBD to treat their furry friends’ ailments

With the numerous health benefits touted by CBD, it’s no surprise that people are inclined to give it to their struggling pets. Although studies are limited, the few available indicate that CBD could be good for dogs, cats and horses because, just like humans, all mammals have an endocannabinoid system. You can even find some veterinarian-certified products on the market if you know where to look.

Why you should never give THC to your pets

Although CBD has been taking the veterinary industry by storm, THC is an entirely different story. Tetrahydrocannabinol, the psychoactive component in the cannabis plant, is said to produce some extremely uncomfortable and potentially dangerous side effects in animals, especially cats and dogs. The end result is referred to by some as “marijuana toxicity” and experts say it’s on the rise. 

HempSMART – Announces 20% Price Drops For CDB Drops

HempSMART, A Subsidiary of Marijuana Company Of America *(MCOA) announced Friday a 20% Price Reduction in their Full Spectrum CDB Drops with NO THC in their 250mg and 500mg sizes. This reduction also applies to their Pet Drops. (Drops are flavored for individual preferences). Douglas Skordal, U.S. Director of Operations, made  the announcement in a closed meeting with associates in a strategic move to make their Premium CBD Products more competitive for their customer base and allow for the public community to embrace CBD and it’s ever increasing popularity. Mr. Skordal also detailed enhanced benefits to those who wish to become a part of the skyrocketing sales aspect of their products. Since the announcement was made, sales growth and onboarding of new associates has made for a potentially Record Breaking Month, according to available projections.

My Personal Interest in this company stems from my personal interactions and positive results by using HempSMART Products. This Link Provided is for those over 21, who wish to purchase CBD Products or wish to Learn More about how You Can Become Involved in an Rewarding and Beneficial Company. Steven Smith #1274

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HempSMART * LOWERS PRICING OF THEIR FULL-SPECTRUM CBD DROPS BY 20% !!

HempSMART * (A SUBSIDIARY OF MARIJUANA CORPORATION OF AMERICA *(MCOA). MADE A STRATEGIC MOVE IN LOWING THEIR PREMIUM CDB DROPS PRICING BY 20%.

THE MOVE WAS ANNOUNCED BY DOUG SKORDAL, U.S. DIRECTOR OF HempSMART OPERATIONS, TO ASSOCIATE MEMBERS, ON MAY 31ST, IN AN EFFORT TO ENGAGE THE PUBLIC WITH A PRODUCT THAT WAS BOTH COMPETITIVELY PRICED AND ATTRACTIVE TO THE THC FREE MARKET. SINCE THE ANNOUNCEMENT WAS MADE, THERE HAS BEEN A SIGNIFICANT UP-TICK IN SALES, AS NEW CUSTOMERS ARE BEING ATTRACTED TO THIS NEW PRICE STRATEGY. ALSO DISCUSSED, WAS A NEW INCENTIVE PLAN FOR CUSTOMERS WHO CHOOSE AUTOSHIPPING AND NEW REWARDS FOR THOSE WHO HAVE AN INTEREST IN JOINING THIS GROWING AND UPWARD TRENDING MARKET.

My Personal Interest in this company stems from my personal interactions and positive results by using HempSMART Products. This Link Provided is for those over 21, who wish to purchase CBD Products or wish to Learn More about how You Can Become Involved in an Rewarding and Beneficial Company. Steven Smith #1274

 

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73 Percent of Surveyed Oncology Providers ‘Believe’ that Medical Marijuana Provides Benefits for Cancer Patients – University of Colorado Study.

A University of Colorado Cancer Center study presented at the American Society for Clinical Oncology (ASCO) Annual Meeting 2019 shows that while 73 percent of surveyed oncology providers believe that medical marijuana provides benefits for cancer patients, only 46 percent are comfortable recommending it. Major concerns included uncertain dosing, limited knowledge of available products and where to get them, and possible interactions with other medications.

 

“I think in some cases we’re missing out on providing a useful tool. Providers think it has benefit, but aren’t comfortable recommending it,” says Ashley E. Glode, PharmD, assistant professor at the Skaggs School of Pharmacy and Pharmaceutical Sciences, and the study’s first author.

Survey respondents included 48 specialized oncologists, 47 physicians, 53 registered nurses, 17 pharmacists, and 7 “other” oncology providers. Seventy-nine percent reported that educational programs both during training and as continuing medical education courses could increase their comfort level with medical marijuana prescribing. Interestingly, 68 percent of providers reported receiving information about medical marijuana from their patients – the next most common sources of information were news media (accessed by 55 percent of providers), and other providers (53 percent).

“We asked and most providers didn’t train in a state where medical marijuana was legal. We need to adapt our healthcare education to include this, and also offer trainings on medical marijuana to current providers,” Glode says.

Providers also reported legal and regulatory concerns, especially providers working in academic medical centers who expressed uncertainty whether recommending medical marijuana could jeopardize federal funding (marijuana remains a U.S. Drug Enforcement Agency Schedule 1 drug). Providers felt as if additional clinical data describing the effectiveness of medical marijuana and endorsed guidelines describing the conditions and situations in which it should be used would increase their comfort in prescribing.

“Still, the biggest issue that providers saw is the lack of certainty in dosing,” Glode says. “The issue is it’s not regulated – a dispensary might say a product has this much THC and this much CBD, but no one is testing that for sure. Limited data suggest that patients should start low and slow, no more than 10mg of THC in a dose, but we don’t know that’s what patients are really getting. Then from a consumption perspective, inhalation and smoking is the least preferred due to possible damage to the lung. So many doctors recommend edibles, oils, and tinctures, but we still don’t have good data comparing dosage across these forms.”

Glode and study colleagues including Stephen Leong, MD, hope to expand the survey to gather a more nationally representative sample.

“Knowledge is an issue,” Glode says. “If we could do a better job educating our healthcare providers, it might be used more often and potentially more safely.”

Article by University of Colorado.

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