WASHINGTON, D.C. – PRESS RELEASE – A bill that would make it easier for financial institutions to work with the cannabis industry has been introduced and is expected to be considered in Congress this session. The Secure and Fair Enforcement (SAFE) Banking Act, sponsored by Reps. Ed Perlmutter (D-CO), Denny Heck (D-WA), Steve Stivers (R-OH) and Warren Davidson (R-OH) in the House with 106 cosponsors, would provide much-needed clarity and protections for banks that choose to work with cannabis businesses that are in compliance with state laws.

“Members of the legal cannabis industry are already one of the most unfairly taxed and heavily regulated groups in the country. They shouldn’t have to deal with the additional costs and safety concerns that are caused by preventing banks from working with them,” said Aaron Smith, executive director of the National Cannabis Industry Association. “The SAFE Banking Act is a narrowly tailored and absolutely necessary step to address an issue that is getting increasingly urgent as more and more states decide to sensibly regulate cannabis.”

“The majority of American voters have spoken and it’s happening whether we act or not. The SAFE Banking Act is focused solely on taking cash off the streets and making our communities safer,” said Rep. Perlmutter. “Only Congress can provide the certainty financial institutions need to start banking legitimate marijuana businesses--just like any other legal business--and reduce risks for employees, businesses and communities across the country.”

The SAFE Banking Act would prevent federal banking regulators from punishing banks for working with cannabis-related businesses that are obeying state laws or halting their services, taking action on loans made to those businesses, or limiting a depository institution’s access to the Deposit Insurance Fund. The bill would also protect ancillary businesses that work with the cannabis industry from being charged with money laundering and other financial crimes, and requires the Financial Institution Examination Council to develop guidance to help credit unions and banks understand how to lawfully serve cannabis businesses.

Draft legislation of the SAFE Banking Act received a historic hearing in the House Consumer Protection and Financial Institutions Subcommittee last month, which heard supportive testimony from the California state treasurer, law enforcement, representatives of credit unions and banks, and a licensed medical cannabis producer and retailer from the District of Columbia. NCIA submitted written testimony along with the personal stories about the burdens and safety concerns created by the current banking situation from nearly 100 cannabis industry professionals.

The American Bankers Association recently voiced their support for this legislation, reporting last month that financial industry surveys show three quarters of banks have had to close a cannabis business account because of the current restrictions, and that support for clarification from Congress on this issue is nearly unanimous, even among banks in non-legal states that have no interest in directly serving the cannabis industry. And last week, Federal Reserve Chairman Jerome Powell cited the need for more clarity about cannabis banking in a Senate Finance Committee hearing. Last year, this legislation had 20 cosponsors in the Senate and 95 cosponsors in the House.

Cannabis is legal for adults in ten states and the District of Columbia, and 33 states as well as several territories have comprehensive medical cannabis laws. The substance is legal in some form in 47 states. In February, legislative committees in four states approved cannabis legalization bills, and many more states are expected to consider the issue this year.

WASHINGTON, D.C. – PRESS RELEASE – A pair of bills was introduced today by Rep. Tulsi Gabbard (D-HI) and Rep. Don Young (R-AK), adding to a steadily increasing slate of cannabis-related legislation being submitted to Congress for consideration this year. The Ending Federal Marijuana Prohibition Act would remove cannabis from the Controlled Substances Act and effectively allow states to determine their own cannabis policies and put an end to federal cannabis prosecutions. The Marijuana Data Collection Act would require the National Academy of Sciences to study and report on the status of state cannabis programs and their impact on public health, safety and the economy.

“We are grateful to Reps. Gabbard and Young for adding to the bipartisan chorus of voices in Congress calling for cannabis policy reform by introducing these bills,” said Aaron Smith, executive director of the National Cannabis Industry Association. “States should be able to make their own cannabis laws without fear of federal interference, and lawmakers deserve to see comprehensive research on what an increasing number of states are already proving--that regulating cannabis works.

"We look forward to a study conducted by an independent federal agency that isn't invested in continuing marijuana prohibition," Smith continued. “Lawmakers and regulators at the state and federal level will benefit from a study that takes a serious look at the effects of making cannabis legal for medical and adult use. There is already plenty of evidence showing that regulation is working in the states, but we need to look at the potential public health and economic impacts of further reforms, and the real costs of continuing to ban a substance that has proven medical benefits and whose prohibition continues to cause massive societal harms.”

Both bills are reintroductions from last year, when they received bipartisan support in the House. In that session, the Ending Federal Marijuana Prohibition Act had 39 cosponsors, and the Marijuana Data Collection Act had 34 cosponsors.

Cannabis is legal for adults in ten states and the District of Columbia, and 33 states as well as several territories have effective medical cannabis laws. The substance is legal in some form in 47 states.

LOS ANGELES, CA, USA (7 March 2019) – PRESS RELEASE – Weekend Unlimited USA Inc. has announced that recent acquisition, VBC Brands, under the CHAMP Energy brand, will sponsor "The South by Southwest (SXSW) conference and festival," taking place March 12-13 in Austin, Texas.

SXSW dedicates itself to helping creative people achieve their goals. Founded in 1987 in Austin, Texas, SXSW is best known for its conference and festivals that celebrate the convergence of the interactive, film and music industries. An essential destination for global professionals, the event features sessions, showcases, screenings, exhibitions and a variety of networking opportunities. SXSW proves that the most unexpected discoveries happen when diverse topics and people come together.

The highlights of the activation at SXSW include:

• Champ will be able to sample and place product throughout the entire venue (general admission, VIP, Green Room) as well as behind the bar for bartenders and staff in addition to inclusion in “Swag” bags
• Champ / Weekend will have branding throughout the venue as VIP sponsor. The VIP area will be co-branded with Champ/Weekend, Cannabis Now and HEMP
• Champ will be announced as the official energy drink sponsor for SXSW across all marketing platforms throughout the event
• Champ’s online store will officially launch on March 12, 2019, and this activation will be utilizing Facebook, Instagram, Twitter and YouTube social platforms to spread awareness about its product line

“The SXSW Cannabis Now Activation will give Champ access to some of the largest dispensaries in the country for their Hemp/CBD line of products and beverages,” said Brad Robb, president of Verve Beverage Company. “This unique event provides an amazing opportunity for both B2B and B2C relationships to be developed for Weekend Unlimited and its portfolio of brands in the USA, with distributors for dispensaries, big box, and local on-premise retail stores in attendance."

During the two-day Hemp/CBD educational activation, HEMP TODAY attendees will experience panel discussions with professional athletes & leading industry experts, film screenings, live musical performances, interactive experiences, exclusive lounges, giveaways, charging stations, product launches and terpene education.

Denver, CO (March 7, 2019) – PRESS RELEASE – 710 Security LTD, a fully-integrated cannabis security firm with offices in Colorado, Ohio and Michigan, has announced that it acquired Leif Alert, a company based out of Evergreen, Colo., that provides custom security systems in homes and commercial cannabis facilities. Lief Alert Owner Chris Boyd will join 710 Security as the chief operating officer. Terms of the transaction were not disclosed.

Since its inception, Lief Alert has positioned itself as a reputable cannabis security company, securing facilities in Colorado, Michigan and Oregon for Viola Extracts, Simply Pure, Starbuds, Bonfire Cannabis, A Cut Above and Dark Horse Genetics.

“I am extremely excited to work with Chris Boyd again. I had the pleasure of working with him right before Amendment 64 passed. He has a vast knowledge and understands the regulated struggles we face every day,” said David Beckett, founder of 710 Security.

“I knew and worked with David for a small dealer in Denver for a few months before the industry started. How ironic that ten years later we are back together taking on America with the most experience in the cannabis industry hands down,” said Boyd. “His team is what I've needed for a few years now. I am now driven more than ever to make 710 Security highly successful.”

With the restructuring, 710 Security also added Ryan Shields as the vice president of operations. Shields has worked with Beckett for the past several years.

“Ryan has really become an amazing asset. 710 Security would not be able to provide the high level of service or support without his dedication and perseverance,” said Beckett. “Adding these guys to the team will allow us to focus on quality over quantity during our nationwide expansion strategy.”

“Teaming up with David and Chris, in addition to our combined years in the industry will allow us to provide a leading, innovative service to the cannabis industry nationally,” said Shields.