- Assembly Bill 45 provide clarity for the hemp industry and reassures consumers that products are independently tested and labeled properly
- Bill allows the sale of hemp-derived extracts that comply with testing and labeling standards
- SGMD, Nug Avenue committed to providing convenient mobile ordering and online access to its exclusive, quality products
Keeping in line with its reputation for leading the way forward in cannabis acceptance and legislation, California lawmakers and government officials have approved an historic hemp bill (https://nnw.fm/HvoNV). The bill — Assembly Bill 45 (AB-45) — creates a comprehensive regulatory framework for the manufacture and sale of hemp-derived products in the state. California-based companies that are committed to providing high-quality product and excellent services, such as Sugarmade (OTC: SGMD), welcome the legislation, which went into effect immediately.
“While CBD products are freely found in stores, they are considered ‘adulterated’ under existing California law, which is defined under the Sherman Food, Drug, and Cosmetic Law,” stated a “High Times” article reporting the legislative news. “What AB-45 will do is provide clarity for the hemp industry — more importantly, reassuring hemp consumers that products are independently tested and labeled properly.”
Other leaders in hemp celebrated the bill as well. “California has been an industry leader in both cannabis and hemp throughout the years but not without its shortcomings and challenges,” Blake Schroeder, CEO of Medical Marijuana, Inc. told High Times.
“We have witnessed the many back-and-forth debates with respect to hemp and CBD, even after its federal legality was outlined by the 2018 Farm Bill,” said Blake Schroeder, CEO of Medical Marijuana Inc. “We welcome the new focus on safety and consistency set by AB-45. Our company created many of the testing standards that most major players in the industry still use today. We hope that this bill helps weed out the companies that are selling fake or inaccurately labeled products.”
The bill, which California Governor Gavin Newsom signed on Oct. 6, 2021, explicitly allows the sale of hemp-derived extracts that comply with testing and labeling standards, most notably CBD.
Sugarmade is a majority owner and operator (70%) of Nug Avenue, a cannabis-delivery services based in southern California that offers hand-selected, top-shelf products. The company is committed to providing convenient mobile ordering and online access to its exclusive, quality products. In addition, the company is focused on strategic growth and expansion, with an in-house tech team that is dedicated to developing next-generation cannabis delivery experience.
For more information, visit the company’s website at www.Sugarmade.com.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://nnw.fm/SGMD
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization 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. 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 SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
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
NetworkNewsWire is part of the InvestorBrandNetwork.
