CANNABIS GLOBAL INC - CBGL STOCK NEWS

Cannabis Global, Inc. (OTC PINK:CBGL) announced a significant revenue increase to $569,562 for the fiscal period ending November 30, 2021, compared to $4,530 in the prior year, owing to new product launches and enhanced distribution. The total assets rose to $11.5 million from $3.2 million. The company expects continued revenue growth into the February 2022 quarter and has implemented a solventless extraction process that has reduced costs by over 70%. New edibles and all-natural cannabis-infused beverages are set to launch soon.

Cannabis Global, Inc. (OTC PINK:CBGL) and Active Health Foods, Inc. (OTC PINK:AHFD) announced a proposed joint venture with The Hub Craft, a Massachusetts cannabis company. This venture aims to introduce notable brands like Freeway Cannabis by Rick Ross, Payton's Place by Gary Payton, and TRUTH34 by Paul Pierce into the California market. The venture would grant exclusive rights to Hub Craft products in California and an option to acquire a 51% stake for $15 million. While terms have been agreed upon, a definitive agreement has yet to be signed.

Cannabis Global, Inc. (OTC PINK:CBGL) announced a non-binding letter of intent to form a joint venture with The Hub Craft and Active Health Foods (OTC PINK:AHFD) to enter California's cannabis market. The deal includes an option to acquire a 51% stake in Hub Craft for $15 million within nine months. Massachusetts' cultivation licenses and market dynamics are viewed favorably compared to overproduced markets like California. No definitive agreement has been reached yet, and further details must be finalized before proceeding.

Cannabis Global, Inc. (OTC PINK:CBGL) reported a significant rise in revenues for the fiscal year ended August 31, 2021, reaching over $1.6 million compared to approximately $27,000 the previous year. This growth is attributed to increased sales of cannabis products, including flower, edibles, and concentrates. CEO Arman Tabatabaei expressed optimism regarding future profitability and new product introductions. The company has expanded its product line and aims to improve profitability while utilizing its manufacturing facilities more effectively moving into 2022.

Cannabis Global, Inc. (OTC PINK:CBGL) announced an enhancement to its manufacturing capabilities at the Natural Plant Extract of California facility in Lynwood, CA. The facility is now producing solventless cannabis concentrates for its products, including edibles, beverages, and prerolls. Using only water, ice, heat, and pressure for extraction, these concentrates aim to retain the natural flavor and purity of cannabis. This move aligns with consumer preferences for high-quality, solvent-free products, indicating potential growth in market demand.

Cannabis Global (OTC PINK:CBGL) has entered a distribution agreement with Humboldt Bliss to distribute its innovative Comply Bag® cannabis transport system, featuring integrated smartphone tracking. The agreement includes an option for Humboldt Bliss to acquire a controlling interest in Ethos Technology LLC for $4 million. The Comply Bag® is designed to secure cannabis shipments, incorporating security features necessary for regulatory compliance across at least 15 states. Cannabis Global aims to commence immediate distribution following this agreement.

Cannabis Global, trading under the stock symbol CBGL, announced advancements in its research and development for psychedelic mushroom infusion into foods and beverages. CEO Arman Tabatabaei emphasized the company's dual extraction technologies using water and food-grade ethanol to mask the strong tastes of mushroom extracts. The potential passage of California's Senate Bill 519 could open doors for commercialization and licensing opportunities. The firm also plans to integrate rare cannabinoids such as THC-V and CBN into their products.

Cannabis Global, Inc. (OTC PINK:CBGL) announces its entry into the live rosin cannabis market, utilizing non-solvent extraction methods. The company is focusing on vertical integration to ensure competitive pricing. CEO Arman Tabatabaei highlighted strong consumer interest in live rosin products in California, with initial orders and sample distributions underway. Live rosin preserves plant flavor and aroma, enhancing its desirability among consumers. The company aims to leverage its innovative technologies for future competitiveness in this emerging sector.

Cannabis Global (OTC PINK:CBGL) announces its support for California's AB 45, signed by Governor Gavin Newsom, which redefines THC and its impact on the cannabis market. The company has heavily invested in minor cannabinoids, particularly THC-V, and developed patented infusion technologies. AB 45 prohibits sales of certain cannabis products exceeding 0.3% THC, enhancing market conditions for regulated cannabis operations. This regulatory change aligns with Cannabis Global's compliance strategies and aims to strengthen its foothold in the legal cannabis industry.