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Bougainville Ventures $BOG.ca Oregon Hemp Farm Begins Harvesting $CROP.ca $VP.ca NF.ca $MCOA

Posted by AGORACOM-JC at 6:50 AM on Tuesday, October 1st, 2019
  • hemp farm in Oregon has a crew of 20 people harvesting 28,000 plants and will be completed over the next couple of weeks
  • Worm Casting team has arranged for drying of the bio-mass with a local drying facility close by while our 15,000 Sq ft., drying facility is being built.
  • Once processed, it will be sold along with the 28 kg of distillate CBD oil that was processed by Dab Extraction Associates a mobile extraction company earlier this year.

Vancouver, British Columbia–(October 1, 2019) – BOUGAINVILLE VENTURES INC. (CSE: BOG) (OTC Pink: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Bougainville” or the “Company”) is pleased to announce that harvesting on the Oregon Hemp farms has begun. The hemp farm in Oregon has a crew of 20 people harvesting 28,000 plants and will be completed over the next couple of weeks.

The Worm Casting team has arranged for drying of the bio-mass with a local drying facility close by while our 15,000 Sq ft., drying facility is being built. Once processed, it will be sold along with the 28 kg of distillate CBD oil that was processed by Dab Extraction Associates a mobile extraction company earlier this year.



Harvest Begins

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6334/48347_5298ce62f42f2863_001full.jpg

Andy Jagpal, President Comments:

“The hemp Industry in Oregon is booming and so is the demand for CBD. According to an Oregon based Hemp publication there were little over 580 growers, and 11,500 acres growing Hemp registered in 2018. This year, there are 1,900 growers, and nearly 63,000 acres registered growing hemp. The Hemp market is bigger than the medical marijuana and recreational marijuana put together, and as the Baby Boomers are just now discovering the benefits of CBD the demand for Hemp has an aggressive growth curve that is just beginning.”

To learn more about what this news means to the shareholders visit https://marketnewsfirst.com/bog-news

About the Hemp Market

In 2018, the legal cannabis market was valued at $11.9 billion in the United States and is expected to be worth $66.3 billion by the end of 2025, which is a compounded annual growth rate of nearly 24 percent, according to Market Research.

About Bougainville Ventures, Inc.

Bougainville Ventures Inc. is dedicated to rapid growth in production, processing, retail and branding of cannabis and cannabis related products. Currently the company provides strategic capital to the thriving cannabis cultivation sector through ownership and development of commercial real estate properties. We offer fully built out turnkey facilities equipped with state-of-the-art growing infrastructure to cannabis growers and processors. Also, the Company is focused on building a strong presence in the hemp industry with the objective of extracting cannabinoids in both Canada and the United States. Along with our flagship Hemp project in Oregon State and the Greenhouse campus in Washington state, the Company has proprietary formulas for cannabis edibles, topical, and tinctures.

On behalf of the Board of Directors
BOUGAINVILLE VENTURES INC.

Andy Jagpal, President and Director

For further information, please contact Zoltan, IR Representative at: 604-722-0305 [email protected]. Or toll free at 1-877-517-7816

http://bougainvilleinc.com/
https://twitter.com/bougainvilleinc

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, 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. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

No regulatory authority has approved or disapproved the information contained in this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48347

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St-Georges Eco-Mining $SX.ca $SXOOF – Kings of the North Subsidiary Sold to UK’s BWA Group PLC.

Posted by AGORACOM-JC at 5:34 PM on Monday, September 30th, 2019
  • Company has completed the sale of its subsidiary Kings Of The North Corp to BWA Group Plc of London, United Kingdom (NEX:BWAP)
  • The total transaction is evaluated at approximately CAD 7.5M. St-Georges holds 50.18% of Kings of the North.

Montreal – September 30, 2019, St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to inform its shareholders that the Company has completed the sale of its subsidiary Kings Of The North Corp to BWA Group Plc of London, United Kingdom (NEX:BWAP). The total transaction is evaluated at approximately CAD 7.5M. St-Georges holds 50.18% of Kings of the North.

BWA’s shareholders voted to approve the acquisition of KOTN earlier today with over 99.1% of vote cast in favour. Management of St-Georges, Kings of the North, and BWA Group spent the remainder of the days finalizing the regulatory documentation.

Vilhjalmur Thor Vilhjalmsson, President and CEO of St-Georges, commented, “(…) This is another important milestone achieved, and our management looks forward to working with BWA Group to unlock the potential value of these projects. St-Georges’ restructuring is starting to take shape and we look forward to the next steps on the path of this journey (…).”

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur T. Vilhjalmsson”

VILHJALMUR THOR VILHJALMSSON

President & CEO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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#Coors $TAP Enters #CBD Market With New Distribution Deals – SPONSOR: NORTHBUD $NBUD.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca

Posted by AGORACOM-JC at 4:05 PM on Monday, September 30th, 2019

SPONSOR: NORTHBUD (NBUD:CSE) Sustainable low cost, high quality cannabinoid production and procurement focusing on both bio-pharmaceutical development and Cannabinoid Infused Products. Learn More.

NBUD: CSE
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Coors Enters CBD Market With New Distribution Deals

  • As CBD continues to hit fever pitch with consumers, Molson Coors Brewing Company is entering the business
  • Company recently inked distribution deals with Colorado’s Best Drinks and DRAM Apothecary.

Emily Cappiello Contributor 

As CBD continues to hit fever pitch with consumers, Molson Coors Brewing Company is entering the business. The company recently inked distribution deals with Colorado’s Best Drinks and DRAM Apothecary.

“We are very excited to add Colorado’s Best Drinks and DRAM to our portfolio, giving us the ability to offer amazing CBD hemp products to retailers and consumers in the Denver Metro area. We see a big demand for high quality and unique products in the non-alcoholic space and we think Colorado’s Best Drinks and DRAM are the perfect solution to fill that consumer demand,” says Jennifer DeGraff, director of marketing, Coors Distributing Company.

Moose Koons, co-owner of Colorado’s Best Drinks, explains that the process started about eight months ago when one of the company’s beverages ended up in the hands of someone at the company.

“We started the process from there and Coors really saw an opportunity,” he says. “Working with Coors is going to open up our distribution into restaurants, grocery, bars, convenience stores — they have a fantastic network. But it’s also about the validation and legitimacy of our organization. We’ve been selling CBD drinks for more than a year now.”

Koons explains that Colorado’s Best Drinks has worked closely with the Colorado Department of Health in order to figure out healthy CBD boundaries in consumables, which he feels is one of the reasons that Coors was drawn to the company.

Additionally, Koons adds that what makes Colorado’s Best Drinks different from other CBD-infused beverages out there is the fact that the company is hands-on in the manufacturing process.

“We understand how ingredients go together and how they bond. Sometimes, CBD can be tricky and may not want to blend, but we found solutions to make sure we are putting out a quality product,” he says.

As for teaming up with Coors as far as distribution, Koons says the company is poised for growth already, modeling its processes after the booming craft beer industry in Colorado.

“We watched the craft beer industry and we’ve been working on scalability for two or three years. We should be able to increase distribution without having to change the facility and we put a lot of processes and procedures in place already,” he says.

Currently, distribution will be limited to Colorado while the Food and Drug Administration irons out regulations regarding hemp-based food and beverages. However, Koons notes that continuing the education of the consumer will help to eliminate stigma, questions and concerns surrounding the growing food and beverage category.

“One of our goals is to continue to educate the consumer that hemp is fantastic. It’s sustainable and there are even receptors in your body that allow you to be able to process it. We are going to continue to try to really bring hemp into the spotlight,” he says.

Colorado’s Best Drinks offers a full line of sparkling beverages infused with broad spectrum hemp extract. Each flavor – Black Cherry, Cola, Ginger Ale, Lemonade and Root Beer – is crafted with just five ingredients: sparkling water, organic agave nectar, natural flavors, non-GMO citric acid, and broad spectrum hemp extract. Each 12oz BPA-free can contains 100 calories and are all vegan, gluten-free, non-GMO, and free of sodium and preservatives.

Source: https://www.forbes.com/sites/emilycappiello/2019/09/24/coors-enters-cbd-market-with-new-distribution-deals/#19e7012f4bc5

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CardioComm Solutions $EKG.ca – Global #mHealth Apps Market To Flourish And Reach USD 111.1 Billion By 2025 $ATE.ca $TLT.ca $OGI.ca $ACST.ca $IPA.ca

Posted by AGORACOM-JC at 11:58 AM on Monday, September 30th, 2019

SPONSOR: CardioComm Solutions (EKG: TSX-V) – The heartbeat of cardiovascular medicine and telemedicine. Patented systems enable medical professionals, patients, and other healthcare professionals, clinics, hospitals and call centres to access and manage patient information in a secure and reliable environment.

EKG: TSX-V
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Global mHealth Apps Market To Flourish And Reach USD 111.1 Billion By 2025

Zion Market Research published a new industry research report “Global mHealth Apps Market Is Set For Rapid Growth, To Reach Around USD 111.1 Billion By 2025” is all around created with a blend of the significant information related with overall mHealth Apps Market, alongside key components obligated for the interest for its administrations and product.

mHealth Apps Market report also provide a thorough understanding of the cutting-edge competitive analysis of the emerging market trends along with the drivers, restraints, challenges, and opportunities in the Market to offer worthwhile insights and current scenario for making right decision. The report covers the prominent players in the market with detailed SWOT analysis, financial overview, and key developments of the products/services from the past three years. Moreover, the report also offers a 360º outlook of the market through the competitive landscape of the global industry player and helps the companies to garner mHealth Apps Market revenue by understanding the strategic growth approaches.

Source: http://industrynewsreporter24.com/13163/global-mhealth-apps-market-to-flourish-and-reach-usd-111-1-billion-by-2025/

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Electric-Car Dreams Could Fall a Nickel Short – Tartisan #Nickel $TN.ca hosts measured and indicated resource of 7.14 million tonnes at 0.62% $ROX.ca $FF.ca $EDG.ca $AGL.ca $ANZ.ca nickel

Posted by AGORACOM-JC at 10:48 AM on Monday, September 30th, 2019

SPONSOR: Tartisan Nickel (TN:CSE)  Kenbridge Property has a measured and indicated resource of 7.14 million tonnes at 0.62% nickel, 0.33% copper. Tartisan also has interests in Peru, including a 20 percent equity stake in Eloro Resources and 2 percent NSR in their La Victoria property. Click her for more information

Electric-Car Dreams Could Fall a Nickel Short

Demand for a form of nickel needed in electric-vehicle batteries is starting to outpace supply

  By Rhiannon Hoyle  

SYDNEY—Global producers of electric cars have big ambitions and a bigger problem: Supplies of a key material are running short.

Nickel sulfate is a brilliantly colored crystalline substance used in electric-vehicle batteries. The ore most commonly used to produce it is mined in only a handful of places—and they include some of the most politically or operationally challenging, such as Russia or Canada’s frozen Northeast.

Nickel sulfate accounts for just a fraction of global nickel sales; about 70% of nickel is used in stainless steel. But auto makers will launch more than 200 new plug-in electric vehicles through 2023, consulting firm AlixPartners estimates—and that isn’t counting hybrids. UBS expects batteries in electric vehicles to account for 12% of global nickel demand by then, up from 3% in 2018.

And after years of low prices that stalled investment by global miners, nickel supply is falling short of demand. “There’s no new nickel in the pipeline,” said Angela Durrant, principal metals analyst at Wood Mackenzie, a U.K.-based consulting firm.

Read More: https://www.wsj.com/articles/electric-car-dreams-could-fall-a-nickel-short-11569780257

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The Huge Opportunity Education Investors Are Missing – SPONSOR: #BetterU Education $BTRU.ca $ARCL $CPLA $BPI $FC.ca

Posted by AGORACOM-JC at 10:16 AM on Monday, September 30th, 2019
SPONSOR:  Betteru Education Corp. aims to provide access to quality education from around the world. The Company plans to bridge the prevailing gap in the education and job industry and enhance the lives of its prospective learners by developing an integrated ecosystem. Click here for more information.
BTRU: TSX-V

The Huge Opportunity Education Investors Are Missing

  • Of course, there’s no such thing as a sure investment but here’s why getting aboard the education train in India sure feels like it.
  • HolonIQ, KPMG and others relay the numbers – India has 260 million students studying at 1.5 million schools.

By: Derek Newton Contributor 

If you pay attention for more than even a few minutes, it’s easy to be dumbfounded by the decision-making of education and education technology investors as they routinely pour money into businesses and concepts that have no hope of working. They continually believe education ventures and education markets function like normal ventures in other markets and that what they hear from misinformed pundits is accurate. They don’t. And it’s probably not.

At the level of the individual decision and the particular funding round, there is a parade of examples. But the easiest example is at the macro, international level where investors and speculators have yet to move on what may be the greatest educational growth opportunity they will likely ever see – India.

To say the education and education investment opportunities in India are massive is to not understand the word massive.

As you review the statistics and projections about India, keep in mind that ed and edtech investment there is just 10% of the global total, behind China and the U.S. According to HolonIQ, just $700 million was invested in India edtech in 2018 and just one company, Byju’s, raked in $540 million of that. Every other investment in education in India shared a paltry $160 million. 

Of course, there’s no such thing as a sure investment but here’s why getting aboard the education train in India sure feels like it.  HolonIQ, KPMG and others relay the numbers – India has 260 million students studying at 1.5 million schools.

The country has 600 million people under the age of 25 and some 27 million undergraduate college students. That’s 4.5%. For comparison, the U.S. has about 17 million undergrads out of population of about 100 million in the under-25 bracket, obviously, that’s about 17%. The growth potential in higher ed alone should be obvious.

With 400 million smart phone users, it’s the second-largest connected country on the planet. And India’s projected economic growth is heavily tied to service and technology and dependent on education. If the country is going to continue to grow, its education system has to too. National leaders know this are likely to continue big investments and favorable policies.

Further, most education in India is done in English. All of higher education is. Which means that for U.S. investors and innovators especially, India ought to be a comparatively easy market to understand and reach. Even more significantly, India allows for 100% direct foreign investment in education.

The KPMG report predicts more than 50% annual growth in online learning in India, due to the rapid growth in young people and Internet connectivity. They expect that business in the reskilling and continuing credential market to grow 38% annually.

And like many young people, students and prospective students in India are highly responsive to educational quality as represented by brand.  In other words, known American and European education brands that get in India now could really clean up as the country’s warp-speed growth kicks in.  

Overall, the KMPG report is not subtle about the India education market, saying, “The education market in India … presents a lucrative opportunity for monetization.” HolonIQ says the environment there “translates into a huge opportunity as the target market for education and upskilling.”

It appears so.

Yes, education providers should not chase money, they should follow a more noble purpose. But that case is sitting in India too. With 30% of India’s population under the age of 14, the risk that India’s education won’t keep pace is a real, geopolitical threat. Helping them grow in size and quality is important on a number of fronts. And, if India’s education system can keep pace, the growth will dwarf anything in China and not even compare with anything in the U.S.  

And yet investors and education providers have been comparatively slow to move to and in India. In 2018, education funding in the U.S. was twice what it was in India and education investment in China was nearly seven times larger. To an observer, that makes little sense.

It feels that if you have a MOOC platform or a lab school or a random digital learning app – investments with little hope of financial return and even less hope of educational reform – venture capital flows like wine at a bacchanal.

Maybe that’s overstated. What’s probably not overstated is what’s coming in the education space in India. That feels very real. Let’s see if the wizards of Wall Street and the sultans of Silicon Valley recognize it.

Source: https://www.forbes.com/sites/dereknewton/2019/09/28/the-huge-opportunity-education-investors-are-missing/#7b006c0152d0

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Enthusiast Gaming $EGLX.ca Congratulates Its #Esports Team, Vancouver Titans, for Record Breaking 2019 #Overwatch Season $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

Posted by AGORACOM-JC at 7:11 AM on Monday, September 30th, 2019
  • Congratulates the Vancouver Titans, a professional esports team the Company has a non-controlling interest in, for a record breaking first season in the Overwatch League and for making it to the Overwatch Grand Finals in Philadelphia.
  • Throughout the season and coming into the Grand Finals, the Vancouver Titans were ranked #1 and finished with a season record of 25-3. 

TORONTO, Sept. 30, 2019 – Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming“) (TSX-V: EGLX) (FSE: 2AV), congratulates the Vancouver Titans, a professional esports team the Company has a non-controlling interest in, for a record breaking first season in the Overwatch League and for making it to the Overwatch Grand Finals in Philadelphia. Throughout the season and coming into the Grand Finals, the Vancouver Titans were ranked #1 and finished with a season record of 25-3. 

Managed by Enthusiast Gaming’s esports division, Luminosity Gaming Inc. (“Luminosity Gaming”), the Vancouver Titans battled the San Francisco Shock in the final match of the Grand Finals tournament, at the sold out Wells Fargo Arena in Philadelphia. The total prize pool for the tournament was US$3.5 million.

On September 29, the Grand Finals were broadcast live across North America mainstream media channels, ABC, ESPN and TSN and were livestreamed on Twitch in 190 countries. Overall viewership is projected to be higher than the 10.8 million global audience that watched the 2018 finals.  The Overwatch League consists of 20 teams across six countries and three continents. Its projected that over 40 million people play Overwatch worldwide.

Luminosity Gaming is a leading esports organization with 7 championship teams across the world’s most popular game titles. Enthusiast Gaming acquired its interest in the Vancouver Titans from the team’s majority owner, the Aquilini Investment Group.  The Company recently announced that it will be joining the 2020 Call of Duty League, with the acquisition of a non-controlling interest in the Seattle based team. 

Steve Maida, President of Luminosity Gaming, Enthusiast Gaming’s esports division commented, “Congratulations to both teams for making it to the 2019 Grand Finals! I am sure the millions of fans around the world enjoyed watching teams of this calibre. As owners and managers of the Vancouver Titans, we are very proud of the team for an unbelievable first season and for the hard fought battle against the San Francisco Shock. We eagerly await next season from Rogers Arena.”

About Enthusiast Gaming 

Enthusiast Gaming is one of the largest vertically integrated video game and esports companies in the world. The Company’s digital platform includes +100 gaming related websites and 900 YouTube channels which collectively reach 150 million visitors monthly. Enthusiast’s esports division, Luminosity Gaming, a leading global esports organization consists of 7 professional esports teams under ownership and management, including the #1 ranked Overwatch team, the Vancouver Titans and over 50 gaming influencers with a total audience of 60 million followers. Collectively, the community reaches over 200 million gamers on a monthly basis. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.com) with approximately 55,000 people attending in 2018. For more information on the Company, visit www.enthusiastgaming.com. For more information on Luminosity Gaming, please visit luminosity.gg

CONTACT INFORMATION 

Investor Relations:
Julia Becker
Head of Investor Relations & Marketing
Telephone: 604-785-0850
Email: [email protected]

Forward-Looking Information

Certain statements in this release are forward-looking statements.  Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of Enthusiast Gaming.  The risks include risks that are customary to transactions of this nature and customary to companies which have their stock traded on the TSXV. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Enthusiast Gaming will obtain from them. 

This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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North Bud Farms $NBUD.ca – A Budding Industry: #CBD Statistics & Trends (Infographic) $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca

Posted by AGORACOM-JC at 5:09 PM on Friday, September 27th, 2019

SPONSOR: NORTHBUD (NBUD:CSE) Sustainable low cost, high quality cannabinoid production and procurement focusing on both bio-pharmaceutical development and Cannabinoid Infused Products. Learn More.

NBUD: CSE
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A Budding Industry: CBD Statistics & Trends (Infographic)

  • The sales of CBD are predicted to reach about $1.8 billion by 2022
  • At the moment, there are over 850 brands of CBD products in the US market
  • With over $1 billion, Colorado is the state with the highest cannabis revenues
  • Data on CBD user demographics show 40% of Americans are interested in trying CBD.

By Bojana Petkovic

What is CBD all about and why are cannabis and hemp oil all over the internet? To help you understand this rapidly growing industry, we’re going to present you with some interesting CBD statistics and facts.

CBD or cannabidiol is one of the most important active substances in the cannabis (marijuana) plant. It can be obtained from different cannabis species, but it can also be synthetically produced. There are divided opinions on whether it works better on its own or joined with other cannabis compounds, yet one thing is for sure — its positive effects on human (and pet) health are undeniable. At the moment, only CBD derived from hemp is legal under federal law while we wait for more research on the substance to begin.

We can observe CBD as an amazing cure, but we can also watch the changes in the industry. That is one serious venture and a lot of people would like to get a piece of that $20 billion pie (this is the prognosis for US sales of CBD by 2024).

With that in mind, here is our pick of:

Top 10 CBD Facts and Statistics

  • The sales of CBD are predicted to reach about $1.8 billion by 2022.
  • At the moment, there are over 850 brands of CBD products in the US market.
  • With over $1 billion, Colorado is the state with the highest cannabis revenues.
  • Data on CBD user demographics show 40% of Americans are interested in trying CBD.
  • A cannabis worker earns more than an average American.
  • The demand for employees in the CBD oil industry rose by 76% in one year.
  • Statistics on CBD direct sales show that the majority of direct sellers are women.
  • Women are founders or general managers of over 75% of CBD brands.
  • Pure CBD is perfectly safe for usage and you cannot get addicted to it.

See what we mean? Take a look at the following infographic for more mindblowing CBD trends.

Source: https://loudcloudhealth.com/cbd-statistics-infographic/

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Bougainville Ventures $BOG.ca – #Cannabis Execs Cheer Congress’ Approval of #Pot Business Banking $CROP.ca $VP.ca NF.ca $MCOA

Posted by AGORACOM-JC at 2:53 PM on Friday, September 27th, 2019

SPONSOR:  Bougainville Ventures Inc (CSE: BOG) provides strategic capital to the thriving cannabis cultivation sector through ownership and development of commercial real estate properties. The company also offers fully built out turnkey facilities equipped with state-of-the-art growing infrastructure to cannabis growers and processors. Click here for more info.

Cannabis Execs Cheer Congress’ Approval of Pot Business Banking

  • In the crush of impeachment news, few noticed a major development in the legal cannabis industry this week.
  • The Secure and Fair Enforcement (SAFE) Banking Act, which allows banks to offer financial services to cannabis companies that are operating legally within their own state, passed in the House of Representatives by a decisive margin of 322 – 103 and is moving on to the Senate.

Julie Weed Contributor

In the crush of impeachment news, few noticed a major development in the legal cannabis industry this week. The Secure and Fair Enforcement (SAFE) Banking Act, which allows banks to offer financial services to cannabis companies that are operating legally within their own state, passed in the House of Representatives by a decisive margin of 322 – 103 and is moving on to the Senate.

There is some flavor of legal cannabis market in more than 30 states, but the plant’s federal categorization as a Schedule One drug, has meant that banks would not offer services to companies growing, processing or selling marijuana. Without access to checks and credit cards, business operators have had to deal in large amounts of cash, making them targets for robbery and complicating the tax-paying procedures.

It’s important for legal marijuana businesses to access banking basics, like making deposits, transferring funds and taking out loans said Steve DeAngelo, co-founder of the cannabis dispensary chain in California, Harborside. Those financial activities, “foster economic growth and the creation of jobs that enhance the community,” he said.  

And, it’s only fair according to DeAngelo. “The cannabis industry currently pays the federal government over $5 billion in taxes each year,” he said, “and it deserves to get the benefits all other business have access to, namely safe banking.”

The law will help keep investment in the United States and aid company growth said Adrian Sedlin, chief executive of Canndescent, a cannabis company. Access to banking would mean US cannabis companies could “stop turning to the Canadian capital markets, paying usurious rates for financing, and dealing with burdensome amounts of paper currency,” said Sedlin. 

Michael Goldberg, a partner at Altitude Investment Management urges the Senate to vote in support of this measure in the coming months. ”The regulated cannabis market has consistently lacked adequate financial infrastructures and resources that are afforded to mainstream businesses due to federal regulations,” he said. 

Doug Gordon, executive vice president and head of LeafLink Financial said he looks forward to “the advancement of this legislation through the Senate to empower the growth and development of the industry.” 

The legal cannabis market has been a “job machine” and now employs 250,000 Americans according to Keegan Peterson, chief executive of Würk which creates payroll and human resources software for cannabis companies. The lack of banking access “puts the incomes of these employees at risk and causes unnecessary financial challenges for business owners.”

Source: https://www.forbes.com/sites/julieweed/2019/09/27/cannabis-executives-cheer-congress-approval-of-pot-business-banking/#707e7a9c712c

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Posted in Bougainville Ventures | Comments Off on Bougainville Ventures $BOG.ca – #Cannabis Execs Cheer Congress’ Approval of #Pot Business Banking $CROP.ca $VP.ca NF.ca $MCOA

VIDEO: #SuperBowl champ Richard Sherman becomes shareholder in #Enthusiast Gaming $EGLX.ca $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

Posted by AGORACOM-JC at 10:19 AM on Friday, September 27th, 2019

Richard Sherman, cornerback for the San Francisco 49ers, joins BNN Bloomberg’s Andrew Bell for a look at why he decided to team up with Toronto-based Enthusiast Gaming in the e-sports space.

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Posted in All Recent Posts, Enthusiast Gaming Holdings Inc. | Comments Off on VIDEO: #SuperBowl champ Richard Sherman becomes shareholder in #Enthusiast Gaming $EGLX.ca $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

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