420 with CNW — Study Finds That Cannabis Legalization Is Associated with Reduced Opioid, Nicotine, Alcohol Use

New research has found that the legalization of cannabis is associated with reduced use of nonprescription opioids, nicotine and alcohol. The study was conducted by researchers at the University of Washington. Its findings were reported in the “Journal of Adolescent Health.”

For their study, the researchers conducted an analysis of data on trends of substance use in the period between 2014 and 2019. The data, which was obtained from more than 12,000 adults, led to the discovery that individuals who were 21 to 25 years of age were less prone to consuming more “dangerous” drugs after they were legalized within the state.

The study abstract stated that the putting into operation of legalized recreational cannabis coincided with reductions in cigarette and alcohol use and the misuse of pain relievers, which doesn’t align with concerns that legalization would lead to an increase of the use of the aforementioned substances. The study also noted that the weakening link of the use of marijuana with the use of other substances among individuals who are 21 to 25 years old suggested increased need of marijuana-specific efforts for prevention and treatment.

The study did find that the rates of using e-cigarettes grew among this age group post-2016.

In a blog post, NORML deputy director Paul Armentano stated that data from legalization states disputed claims that marijuana was a gateway drug, with marijuana regulation being connected to the reduced use of other substances, such as various prescription medications. A separate study also concluded that the legalization of cannabis was linked to a reduction in the use of prescription drugs indicated for treating conditions such as seizures, pain, sleep and anxiety.

In addition to this, several other studies have identified links between decreased pharmaceutical prescriptions with the enactment of medical marijuana legalization at state level. In 2021, one study found that the use of medical cannabis was linked to an increase in quality of life and significant decreases in addiction to opioids and other prescription medications.

Additionally, a meta-study whose findings were released in 2020 suggested that cannabis could be used as an alternative to opioid-based painkillers because it demonstrated promise as a treatment alternative against chronic pain. That year, scientists also published findings from a study which demonstrated that marijuana could alleviate symptoms of opioid withdrawal.

Furthermore, in 2019, researchers determined that states with legal access to cannabis experienced reductions in opioid prescriptions. Separate research that was released months before this study demonstrated that the daily consumption of cannabis was linked to decreased opioid consumption among patients with chronic pain.

All this scientific data suggests that the cannabis products sold in legal markets by companies such as Flora Growth Corp. (NASDAQ: FLGC) are more beneficial than industry detractors would want to admit.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – Advanced Container Technologies Inc.’s (ACTX) GrowPods Can Provide Compelling Experience of ‘Buying Right off the Vine’

Advanced Container Technologies (OTC: ACTX) today announced that its GrowPods — innovative modular hydroponic farms — can give grocers the ability to grow and sell ultra-clean and fresh strawberries and leafy lettuce, kale and micro-greens from a self-contained unit that can be located as nearby as the store’s parking lot. The announcement includes examples of grocers “taking farm-to-table to a whole new level,” including, according to Progressive GrocerKroger Company (NYSE: KR) providing customers with hydroponic produce right at the point of purchase. “Our modular hydroponic farms not only produce ultra-clean, vine-ripened strawberries and leafy greens, but also provide other sustainability benefits such as cutting freight emissions, lowering water usage and prolonging shelf life,” said Doug Heldoorn, CEO of Advanced Container Technologies. “Additionally, that experience of going into a grocer and essentially buying right off the vine is compelling from a customer experience standpoint.”

To view the full press release, visit https://cnw.fm/pI4gg

About Advanced Container Technologies Inc.

Advanced Container Technologies is in the business of selling and distributing self-contained, automated, indoor “micro-farms” called Grow Pods, along with related equipment and supplies. Additionally, the company designs and sells patented proprietary medical-grade plastic containers, known as the Medtainer(R), that store and grind pharmaceuticals, herbs, teas and other solids or liquids. For more information, visit the company’s website at www.AdvancedContainerTechnologies.com.

NOTE TO INVESTORS: The latest news and updates relating to ACTX are available in the company’s newsroom at https://cnw.fm/ACTX

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks 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, CNW 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. CNW 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, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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Flora Growth Corp. (NASDAQ: FLGC) Increases Vessel’s Footprint in the Canadian Cannabis Marketplace; Expands Its Operational Footprint in the E.U. and UK

  • Flora Growth’s Vessel brand just got listed on the Ontario Cannabis Store (“OCS”)
  • Vessel also launched its direct-to-consumer online store to take control of its customer relationship journey
  • Flora, through this expansion, seeks to tap into the growing Canadian cannabis market, which is valued at an estimated CAD 5.9 billion in 2022
  • The company has also expanded its operational footprint in Europe and the U.K. in a move that furthers its international growth strategy

Flora Growth (NASDAQ: FLGC) just announced that its Vessel brand just got listed on the Ontario Cannabis Store (“OCS”) in a move that significantly increases the brand’s footprint in the Canadian cannabis marketplace. In addition, Vessel also announced the launch of its Canadian direct-to-consumer online store, www.VesselBrand.ca, to allow the brand to take control of its customer relationship and journey (https://cnw.fm/WWjdA).

Vessel brand is a leader in the premium cannabis accessories market, having been acquired by Flora Growth back in November 2021. Known for its go-to-market strategy for direct-to-consumer sales in the United States and international cannabis markets, this brand has achieved year-over-year growth of over 90%. Following the acquisition, Flora set out to invest in expanding its market share both in the U.S. and internationally. Its expansion into Canada marks a significant milestone and the beginning of many more expansions.

“We’re elated about our partnership with the OCS and are looking forward to bringing the full Vessel experience to our loyal customers across Canada,” noted James Choe, the Chief Strategy Officer (“CSO”) at Flora.

The partnership with OCS will see the launch of two novel Vessel products in the luxury battery and dry herb categories. It is a significant move, mainly since OCS is a crown agency solely owned by the Province of Ontario, providing safe, responsible access to legal recreational cannabis and ancillary products for adults 19 years and older.

According to Flora Growth’s management, the Canadian cannabis market is estimated at around CAD 5.9 billion in 2022, with the ancillary category accounting for $350-$475 million. Through its Vessel brand, the company looks to tap into this market and carve out a significant market share with time.

“The market potential, coupled with our expectations around meaningful retail door penetration across the country, signals promising growth in this market,” noted Mr. Choe.

Flora Growth also announced the expansion of its operational footprint in Europe and the United Kingdom. This move to further its international growth strategy will see the London-based offices serving as the new regional headquarters for Flora’s sales force and managing its distribution centers in the U.K. and Netherlands.

“Establishing our roots in the U.K. and E.U. will not only afford us opportunities to increase our distribution and grow market share, but it will generate actionable market insights for our team to continue to innovate and deliver the most compelling experiences we can,” noted Luis Merchan, the President and Chief Executive Officer (“CEO”) of Flora (https://cnw.fm/WOiGB). 

Flora has further bolstered its strategic positioning in this region by partnering with Hoshi, a fully integrated, European-focused medical cannabis enterprise with strategic assets along the entire value chain. Hoshi will handle the distribution of Flora’s broader product portfolio to 11 countries, including Germany, Portugal, the U.K., Italy, the Czech Republic, Poland, the Netherlands, Switzerland, Macedonia, Denmark, and Malta.

“The latest global expansion highlights our commitment to driving exponential growth and scale,” noted Mr. Merchan.

For more information, visit the company’s website at www.FloraGrowth.com.

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks 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, CNW 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. CNW 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, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Making Waves in the Growing Antiviral Drug Space with its DehydraTECH Technology

  • Lexaria Bioscience Corp., through its patented DehydraTECH technology, is improving the way many drugs enter the bloodstream
  • In June 2021, the company proved that an antiviral drug enhanced with its technology was effective at inhibiting the COVID-19/SARS-CoV-2 virus
  • With the global antiviral market projected to hit $66.7 billion by 2025, Lexaria plans to capitalize on this growth by pushing its DehydraTECH technology and exploring multiple avenues of related application

Today, it is estimated that infectious diseases account for a quarter to one-third of mortality globally. This has mainly been attributed to increased travel, globalization, populated cities, urbanization, and changes in human behavior, among other reasons. These mortalities occur despite significant advancements and developments in the pharmaceutical industry, as has been well evidenced by recent virus outbreaks, including Covid-19, SARS, and Swine Flu, among others  (https://cnw.fm/gis8Y).

The current concerns surrounding virus-related and other diseases encourage the medical industry to revisit its approach to treating such conditions. A viable solution that has been identified is the improvement of the bioavailability of pharmaceuticals, ultimately increasing their efficiency in the body. One company helping to push this solution forward is Lexaria Bioscience (NASDAQ: LEXX).

Regarded as a global innovator in drug delivery platforms for its patented DehydraTECH(TM) technology, Lexaria is at the forefront of improving the way active pharmaceutical ingredients (“APIs”) enter the bloodstream. The technology achieves this by increasing the body’s ability to absorb fat-soluble APIs.

From an economic standpoint, Lexaria’s DehydraTECH allows for less expensive, fast-acting, and more effective oral drug delivery, allowing for the potential of better and faster treatment of various ailments and conditions. So far, the company has filed for patent protection for the delivery of antiviral drugs, testosterone, cannabinoids, nicotine, NSAIDs, PDE5 inhibitors, and more, with additional classes of APIs under investigation.

In June 2021, following the VIRAL-C21-3 clinical study, Lexaria announced that remdesivir and ebastine processed with DehydraTECH proved effective at inhibiting the COVID-19/SARS-CoV-2 virus. This study was the highlight of the company’s 2021 antiviral drug R&D program and a demonstration of DehydraTECH’s potential, not just for SARS-CoV-2 but also for HIV and other infectious disease-causing viruses (https://cnw.fm/pr92u).

The antiviral drug market was valued at $52.1 billion in 2021. It is projected that by 2025, this industry will be valued at over $66.7 billion, mainly driven by a significant increase in the rate of viral infections. Lexaria recognizes this opportunity and is working towards being at the forefront of satisfying the need in this market. 

With its DehydraTECH technology, Lexaria is confident it could offer solutions that could benefit millions of people, from those dealing with infectious diseases to those living with hypertension. 

For more information, visit the company’s website at www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks 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, CNW 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. CNW 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, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW — Congressman Calls on DOT to Modify Truck Driver Cannabis Testing Rules

Earlier this week, Rep. Earl Blumenauer sent a letter to the U.S. Department of Transportation urging the federal agency to reform its cannabis testing policies for truckers and other commercial drivers. The congressman explained that these drug tests unnecessarily cost individuals their jobs and also contribute to issues in the supply chain. In the letter, he cited data from the department showing that thousands of drivers lost their jobs due to strict THC drug-screening policies.

Blumenauer explained that while no individual wanted impaired drivers on U.S. roads, there didn’t exist tests that could detect impairment, which meant that these individuals were being punished for using marijuana while they were off duty or even some days or weeks before they got tested. The congressman emphasized that these disqualifications penalized patients and individuals of color who legally used medical marijuana, decreased the workforce despite the increasing demand for drivers, and denied individuals the right to earn a living, which was why this issue needed to be dealt with urgently.

Blumenauer told Pete Buttigieg, the transportation secretary, that the Department of Transportation needed to develop an accurate test to measure impairment and also reform testing requirements for drivers.

Buttigieg, who hasn’t commented on the department’s cannabis testing policies before, has in the past called for the legalization of marijuana and the decriminalization of other drugs that are still classified as illegal substances.

Currently, the Department of Transportation has made it compulsory that drivers undergo a urine test, which experts and advocates say is problematic. This is because metabolites of THC can stay in an individual’s system for weeks after cannabis has been consumed.

A proposed change in policy would enable the use of saliva-based tests. THC can usually be detected in saliva anywhere from 1 to 24 hours after the use of marijuana. The new proposal also establishes a cut-off point for testing for THC, which will stand at four nanograms per ml. This cutoff will enable the detection of cannabis while eliminating the possibility of getting a positive test from passive exposure.

During a recent press briefing, Blumenauer also stated that the federal government needed to allocate resources to find alternative methods that could be used to determine impairment. Blumenauer, who is the Congressional Cannabis Caucus’ cochair, added that blanket disqualifications caused widespread social and economic damage, and were also unfair and wild. In addition, he explained that the policies around drug testing and cannabis had a different impact on individuals, as individuals of color were more likely to be targeted. This is despite reliable data showing that there were similar rates of marijuana use across races.

As the policies around marijuana continue evolving, it is likely that more people will engage in the home cultivation of this plant by making use of the microfarms or gardens commercialized by Advanced Container Technologies Inc. (OTC: ACTX) so that they can have affordable medical cannabis of a high quality.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Marijuana Product Sampling Grows Despite Pandemic, Legal Obstacles

CPG professionals have long known that one sure way to get your target market to buy a new product is by first giving those people a free sample. The samples provide members of the public with an easy way to try something new without risking anything. Samples are also bait for retail outlets, so it isn’t surprising that several companies in the marijuana industry are finding creative ways to use this marketing approach.

Considering that store sales can be boosted by a jaw-dropping 2,000% and more than 33% of shoppers who receive a sample buy that product within the same shopping trip in which they obtained the sample. It was just a matter of time before cannabis firms took to product sampling.

A number of companies have opted to use CBD products as a way to give their customers a free taste of their products. Azuco, a THC company based in New Mexico and New York, went out of its way to start a CBD line with the sole objective of being able to hand out samples without violating the strict rules governing THC products. The company’s effort was so successful that its CBD line is a major money magnet for the company.

Another surprising benefit that Azuco gained was that the different retailers carrying its products allocated those products premium space after seeing how the company was going out of its way to promote the products. Such promotions mean retailers will make more sales, hence the provision of prime shelves.

One challenge that companies such as Azuco face as they offer free samples has to do with finding venues at which potential customers congregate. Age-restricted events such as golf tournaments and alcohol distribution events are a godsend to marijuana companies since they can hand out samples without running the risk of a minor being present.

Product selection for the sampling event is also vital. This is because not all cannabis products are created equal, and you want to hand out samples that will provide immediate effects. For example, water-based CBD formulations tend to be absorbed faster unlike fat-soluble ones that can take hours before an individual feels anything.

Marketing veterans also recommend that you don’t just hand out samples to anyone who comes your way. The best ROI is obtained when these samples are given to current customers and a business wants to introduce its customers to another line of products that they might be interested in and  enjoy. The sample can simply be tucked into the customer’s order, and the person will purchase that product if they find that the sample is appealing to them.

Given how successful product sampling has been for different categories of consumer packaged goods, it is worthwhile for all growth-focused entities in the cannabis space, including companies such as American Cannabis Partners, to find ways of making this an integral part of their marketing.

NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://cnw.fm/ACP

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – CWCBExpo New York’s ‘In Conversation With’ Series to Feature Tremaine Wright

Tremaine Wright will be featured in a special “In Conversation with…” presentation at CWCBExpo New York on Friday, June 3. Wright, the chairwoman of the New York State Cannabis Control Board, is responsible for regulatory and tax policies regarding medical and adult-use cannabis in New York State. In the one-on-one conversation hosted by Gia Moron, president of Women Grow and founder and CEO of GVM Communications, Wright will provide an exclusive update on all aspects of New York’s legal cannabis program. CWCBExpo New York, slated to take place June 2-4, 2022, is the longest running cannabis event at the Javits Center and in New York City and has become the premier B2B trade show and conference on the East Coast. “Women Grow is excited to host our first-ever pavilion at CWCBExpo featuring 30 women-owned businesses,” said Gia Moron. “This is historic for us, as we have been participants of the expo since its inception. I am also honored to be speaking with Tremaine Wright, as she is a great example of how women are leading the reality of cannabis in New York.”

To view the full press release, visit https://cnw.fm/VDejT

About Cannabis World Congress & Business Exposition (“CWCBExpo”)

CWCBExpo is a business-to-business trade show event for the legalized cannabis and hemp industry. It is held in the largest business, financial and media markets. It is the leading forum for dispensary owners, growers, suppliers, investors, medical professionals, government regulators, legal counsel, and entrepreneurs looking to achieve business success and identify new areas of growth in this dynamic and fast-growing industry. For more information, visit www.CWCBExpo.com.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks 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, CNW 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. CNW 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, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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The Flagship CWCBExpo of the New York Cannabis Week to be Held June 2-4; Will Foster Relationships Among Hundreds of Business Leaders from Across the Cannabis Ecosystem

  • The Cannabis World Congress & Business Exposition (“CWCBExpo”) will be held in New York City between June 2-4, 2022
  • The conference will feature dozens of expert speakers with expertise in developing brands, increasing efficiencies, and investments
  • Hundreds of exhibitors and leading cannabis businesses will showcase cutting-edge product innovations
  • In 2021, revenue from licensed marijuana of $24.5bn – $27bn in the United States eclipsed Starbucks sales throughout North America  

The Cannabis World Congress & Business Exposition (“CWCBExpo”) event will be held at New York City’s Javits Convention Center, Hall 3A on June 2-4, 2022. As the flagship event during Cannabis Week, a platform to bring the entire cannabis industry together for unprecedented learning, sharing, and business building, between Monday, May 30 – Sunday, June 5, the CWCBExpo is a business-to-business trade show event devoted to the legalized cannabis industry. 

The CWCBExpo has earned a reputation as the leading business and educational forum across the width and breadth of industry supply chain participants, including retailers, cultivators, manufacturers, investors, medical professionals, government regulators, legal professionals, and entrepreneurs within this dynamic sector. Legal recreational and medical cannabis sales in the US market during 2021 amounted to between $24.5 billion to $27 billion, topping Starbucks sales across North America, despite being available in only 39 states. In addition, sales for adult and medical use increased by approximately 30%, signalling a booming market (https://cnw.fm/c8cR9). New York and the tri-state area is one of the fastest-growing cannabis and hemp sectors in the country. With the rise in public support for legalization and with multiple states looking to pursue legislation in the coming years, efforts are being made to introduce cannabis reforms at a federal level. The upcoming CWCBExpo is the premier event to take a deep dive into emerging trends and enable the creation of new revenue streams. Attendees will benefit from a series of roundtables, keynote addresses, and a ‘talk show’ format hosting industry leaders. The conference schedule will include:

  • Keynote: In Conversation with Chris Beals, CEO of Weedmaps
  • Keynote: In Conversation with Nick Kovacevich, CEO and Chairman of Greenlane 
  • In Conversation with Tremaine Wright, Chair of the NYS Cannabis Control Board
  • Inside the Industry: Thought Leadership Series in a ‘talk show’ format:
    • Day 1, Thursday: Investing and Industry Progress
    • Day 2, Friday: Policy and Legislation
    • Day 3, Saturday: Cannabis and Lifestyle
  • Industry Update: Trends and Opportunities – Marijuana and Hemp Industries
  • Investor Roundtable: 
  • Roundtables: Where is the Greenest Grass Growing and FlowingSocial Equity – Progress and Needed ChangeEco-Conscious CannabisHealth and Wellness – Living your Best Life with CannabisCultivation; Weed Meets Wall Street and Licensing and the Illicit Market
  • Workshop Master Session – Dispensaries: The Rising Green Sun

The full conference agenda can be found at: https://cwcbexpo.com/conference-highlights/ 

The event shall also host a Networking Mixer on Thursday, June 2, from 5 – 7 pm, sponsored by Weedmaps, so that attendees can network or relax ahead of the continuation of the conference.

On Friday, June 3, from 6 – 10 pm, CWCBExpo will host the Industry Yacht Party, where attendees can eat, drink and dance with their peers while taking in the majestic New York City skyline. This is a premier lead generation opportunity.

 The Networking Mixer and Industry Yacht Party require separate tickets and are open only to registered CWCBExpo attendees. Get your tickets now at the best price!

Download the Cannabis Week Guide here: https://cwcbexpo.com/cannabis-week/ 

For further information on the CWCBExpo and to register, visit https://cwcbexpo.com/

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks 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, CNW 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. CNW 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, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW — Congressman Optimistic About Cannabis Banking Reform Inclusion in Manufacturing Bill

During a press briefing earlier this week, Rep. Earl Blumenauer revealed that he was optimistic about the possibility of including cannabis banking reforms in the final version of the large-scale manufacturing bill that will soon be signed into law. The Congressman has championed for marijuana legalization for a while now and is currently involved in negotiations on the America COMPETES Act.

During the briefing, the Congressman stated that there was a joint effort among conferees in both chambers to ensure that the SAFE Banking Act, which was approved by the House, was attached to the final conference report that is forwarded to President Joseph Biden’s desk. Blumenauer explained that now was the ideal opportunity to get some movement on cannabis banking.

The first meeting on this large-scale measure was held by the conference committee last week, with various conferees calling for the body to include the language of the SAFE Banking Act in the measure in the interest of public safety and economic competitiveness.

Prior to the conference, the Chair of the House Financial Services Committee, Rep. Maxine Walters, stated that cannabis banking was a legislative priority. Additionally, a significant number of senators also sent a bipartisan letter urging marijuana banking be included in the final version of this large-scale manufacturing measure.

However, despite the SAFE Banking Act’s approval in the House a couple of times, the Senate has yet to advance the measure. Current leadership in the Senate has maintained that a comprehensive legalization measure needs to be approved first before the marijuana banking measure can be passed. The Senate version of the SAFE Banking Act has 42 cosponsors, nine of whom are GOP members.

Meanwhile, the attorney general, the governor and other top officials in the state of Washington have also forwarded a letter to congressional leaders highlighting the need to approve the cannabis banking reform. This preceded a meeting that officials in the state held that focused on addressing the robberies that target cannabis retailers. During the virtual meeting, regulators called for a change in federal policy and discussed alternative measures that Washington state could take if Congress failed to act.

In the absence of action from Congress, more states are enacting cannabis banking reform policies on their own. For instance, legislators in the state of Pennsylvania recently filed a measure that would offer banking protections and tax relief to cannabis businesses in the state.

This comes as the number of banks that are working with cannabis businesses around the country continues to increase. However, what entities such as Cannabis Strategic Ventures Inc. (OTC: NUGS) would welcome wholeheartedly is a policy change that makes it official for banks to work with cannabis firms.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — DOJ Urges US Supreme Court to Reject Cannabis Case

The U.S. Department of Justice has asked the U.S. Supreme Court to decline taking up a lawsuit regarding claims for medical marijuana treatment reimbursement for injured employees. A section of the arguments given by the DOJ for its recommendation include a statement that the federal legislature is moving to resolve the conflict between federal marijuana law and state law.

The specific question put before the Supreme Court arises from two cases in Minnesota. In both cases, employees wanted compensation after being injured at work. For both of these cases, the supreme court of Minnesota decided that the law at the federal level banning cannabis took precedence over any state law permitting the use of the substance. This meant that the employees in question weren’t entitled to any compensation from their employers for the medical cannabis they used.

However, the plaintiffs in the case insist that availing workers’ compensation for injured employees who use medical marijuana doesn’t in any way contravene federal law since providing such compensation can’t be interpreted as possessing, trafficking or even cultivating a federally prohibited substance under the CSA.

When this matter was presented to the highest court in the land, the Supreme Court wrote to the DOJ seeking its input regarding the subject matter of the suit. That is how the solicitor general filed a response calling on the SCOTUS to turn down hearing that case, noting that a more suitable remedy could be worked out by the legislature or the executive branch.

The DOJ stated that the issues being raised in the lawsuit are in a new legal zone that is rapidly evolving and it is too early for the highest court in the country to take up a matter that hasn’t matured or generated ample case material at the state level in order to require direction from the highest level of the judiciary. According to the DOJ, any state-level law that compels third parties to subsidize the possession or use of a federally banned substance under the Controlled Substances Act contravenes federal law and is therefore unenforceable.

As more states pass marijuana legalization measures, the contradictions between federal and state law are likely to intensify, with sector actors such as Flora Growth Corp. (NASDAQ: FLGC) having to tread a very thin line between operating within state law while staying clear of being found in contravention of federal law. This isn’t a conducive position for the industry to be in, especially given that each state has its own unique marijuana regulations that licensed companies have to adhere to in each jurisdiction.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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