Sugarmade Inc. (SGMD) Among Hemp-Related Businesses Likely to Benefit if Congress Approves Cannabis Banking Legislation

Sugarmade is focusing its hydroponic agricultural supplies operation on the emerging hemp industry Passage of the 2018 Farm Bill opened the gates to a new wave of hemp farming that portends a possible boom market The hemp industry has suffered from the same banking antipathy afflicting state-legal marijuana businesses because of federal regulation of cannabis’ drug uses Congress has begun considering legislation that would potentially bar federal agencies from penalizing financial institutions that serve cannabis-related businesses

Congressional legislation that aims to open banking institutions’ doors to the cannabis industry would not only benefit state-legal marijuana businesses, but also agricultural businesses working with cannabis’ non-drug hemp plant strains, such as hydroponic equipment supplier Sugarmade Inc. (OTCQB: SGMD).

Separate bills introduced in both the House and the Senate are attempting to address public safety concerns that have arisen as 10 U.S. states have moved to legalize recreational marijuana use and as medical cannabis use has been legalized in two-thirds of states. Because recreational and medicinal cannabis drugs continue to be classified as controlled substances by the federal government’s criminal enforcement divisions, regardless of the states’ rights. . .

Read More >>

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://nnw.fm/SUGAR

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive instant SMS alerts, text STOCKS to 77948

For more information please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

More News From Lifestyle - Asia Logue

Experimental surgery gains support as opioid deaths rise

May 20, 2019

SHANGHAI — Patient Number One is a thin man, with a scabby face and bouncy knees. His head, shaved in preparation for surgery, is wrapped in a clean, white cloth. Years of drug use cost him his wife, his money and his self-respect, before landing him in this drab yellow room at a Shanghai hospital, facing the surgeon who in 72 hours will drill two small holes in his skull and feed electrodes deep into his brain. The hope is that technology will extinguish his addiction, quite literally, with the flip of a switch. The treatment — deep brain stimulation...

Chinese researchers try brain implants to treat drug addicts

May 20, 2019

SHANGHAI — The sound of doctors boring through his skull to feed electrodes deep into his brain made Yan tremble. "The drill was like bzzzzzzz," he later recalled. "The moment of drilling is the most terrible." Yan is a methamphetamine addict. The hope is that technology will extinguish his addiction — quite literally, with the flip of a switch. The treatment — deep brain stimulation — has long been used for movement disorders like Parkinson's. Now, the first clinical trial of DBS for methamphetamine addiction is being conducted at Shanghai's Ruijin Hospital, along with trials for opioid addicts. Yan is...

Boeing 737 Max 8 woes crimp Asian airlines' growth plans

May 20, 2019

SINGAPORE — Asian airlines are cutting routes, revamping their schedules and leasing extra aircraft to fill gaps left by the grounding of Boeing 737 Max 8s after deadly crashes in Indonesia and Ethiopia killed 346 people. So far, regional carriers have managed to avoid major disruptions, but analysts expect that idling the Max 8s, a fuel-efficient update of Boeing's popular 737, will crimp growth plans in the near future. As investigations into the crashes continue, Boeing anticipates a $1 billion increase in costs related to the 737 Max, including fixing software implicated in the disasters, adding pilot training and compensating...

Brunei death penalty moratorium applied to new Shariah laws

May 20, 2019

KUALA LUMPUR, Malaysia — Brunei's sultan has said a moratorium on capital punishment is in effect for new Shariah criminal laws including stoning people for gay sex and adultery that sparked an international outcry. The United Nations has called the laws implemented April 3 "draconian" while the U.S. and several other countries have urged Brunei to halt its plans. Celebrities including George Clooney, Elton John and Ellen DeGeneres have rallied for a boycott of nine hotels in the U.S. and Europe linked to Brunei. Even before 2014, homosexuality was already punishable in Brunei by a jail term of up to...

Thai king celebrates coronation with spectacular parade

May 20, 2019

BANGKOK — Thailand's newly crowned King Maha Vajiralongkorn made a spectacular public appearance in front of his countrymen Sunday, carried atop a golden palanquin by soldiers in ancient fighting uniforms in a procession through Bangkok's historic quarter. Hundreds of other soldiers marched in front, behind and alongside the palanquin in scorching heat as the procession set off from Bangkok's Grand Palace just after 5 p.m. with a marching band setting the pace. Also taking part in the slow parade were the prime minister and other senior officials in the military government as well as the king's wife, Queen Suthida, and...

Sign up now!

Advertisement