Author: CannabisNewsWire (CNW)

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 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

420 with CNW — NFL to Inject More Dollars into Studying Cannabis as Concussion Treatment

The joint efforts of the National Football League (NFL) and its players’ union have resulted in the announcement of a new round of funding for independent research on the therapeutic advantages of CBD as an alternative treatment for pain in concussed players instead of relying on opioids. The amount of $526,525 has been allocated to support two studies, with one led by the American Society of Pain and Neuroscience (ASPN) investigating cannabidiol and noninvasive vagal nerve stimulation (nVNS) as potential remedies for post-concussion headaches.

The study, which will be randomized and is the first of its kind, aims to compare the effects of CBD and nVNS on athletes involved in contact sports who are experiencing post-traumatic headaches. This data will serve as a foundation for future investigations into post-traumatic headache treatment.

The NFL and the NFL Players Association have been actively promoting research on the benefits and risks of cannabinoids, including CBD, for the past few years. In a previous initiative, the league provided $1 million in grants for two studies that explored the efficacy of cannabis and its components in managing pain and offering neuroprotection to football players with concussions.

NFL-NFLPA Pain Management Committee cochair Kevin Hill expressed hope that these studies would contribute to improved pain management for professional football players.

The funding plan was initially outlined by an NFL commissioner in June 2022, highlighting the widespread interest among players and stakeholders in exploring the therapeutic potential of cannabinoids as an alternative to opioid pain relievers.

The NFL-NFLPA committee organized two informational forums on CBD in 2020. In addition, the NFL’s drug-testing policy underwent significant changes in 2020 as part of a collective bargaining agreement. The revised policy stipulates that players will no longer face suspensions for positive drug tests — not just for cannabis but for any drug.

Similar revisions to drug policies have been adopted by other sports leagues as the movement for cannabis legalization gains momentum at the state level. The NCAA, for example, has a committee dedicated to promoting the health and well-being of student-athletes, which has proposed removing cannabis from its list of banned substances.

The NBA has also eliminated THC from its drug-testing requirements while also allowing players to make passive investments in the cannabis industry. However, under the latest collective bargaining agreement, NBA players are prohibited from endorsing cannabis companies.

Nevada sports regulators recently voted to propose a regulatory amendment that would protect athletes from penalties for possessing or using cannabis per state law.

In 2021, the UFC announced that fighters would no longer face punishment for positive cannabis tests.

Meanwhile, the Kansas City Royals, following the example of the Chicago Cubs, have formed a partnership with a marijuana brand to raise awareness about the potential therapeutic benefits of CBD.

It isn’t surprising that the NFL is injecting research dollars into exploring the therapeutic potential of cannabis. Many companies, such as IGC Pharma Inc. (NYSE American: IGC), have already registered significant progress in their attempts to develop medicinal formulations from THC and other cannabinoids. The NFL is therefore not misguided in exploring this aspect of marijuana.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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 — Congress Passes Spending Bill Extending Blockage of Adult-Use Cannabis in D.C.

Washington D.C. residents won’t be purchasing recreational cannabis any time soon after Congressional lawmakers extended a ban on adult-use marijuana sales in the region. Although residents voted in favor of legalizing adult-use marijuana for adults in 2015, a federal spending bill rider prevents regulators from using local tax rules to create a legal framework for a commercial recreational cannabis market.

The rider has been part of fiscal fending passages every year since and has prevented D.C. from launching a commercial market for years.

Last week, the Republican-controlled House chose to renew the spending rider under the 2024 spending bill again, stating in a summary that it would “retain the ban on federal and local funds” as it pertains to adult-use cannabis legalization in D.C.

The move has been condemned by Representative Eleanor Holmes Norton, a key advocate for granting D.C. statehood and an outspoken critic of the anti-cannabis rider. Norton released a statement saying that while she was pleased with several of the provisions included in the spending bill, she was outraged by the repeated inclusion of the rider, stating that the rider limited the city’s ability to make its own regulations.

Although D.C.’s recreational cannabis market has so far failed to get off the ground, several other states have successfully launched their own markets. The state-legal recreational marijuana industry is now one of the fastest-growing sectors in the country, employing tens of thousands of Americans and generating billions of dollars in tax revenue. On top of that, most states with legal recreational markets have included social equity provisions to aid communities that were disproportionately affected by the failed war on drugs.

However, with the spending rider banning lawmakers from using local taxpayer dollars to launch an adult-use sector, D.C. residents won’t be seeing a commercial market any time soon.

Interestingly, the anti-cannabis rider has even been questioned by certain Republican members of the House. In May, House Oversight and Accountability Committee chair James Comer said that he would review the federal rider following testimony from Washington, D.C., mayor Muriel Bowser.

Bowser told the committee that the congressional appropriations rider had prevented the city from launching a recreational cannabis market for years and posed a threat to public safety. Comer noted at the time that the rider and its impact on cannabis legalization had “caught his attention” and that he would review the matter.

In the meantime, no lawmakers have moved to amend the financial spending bill in the full House Appropriations Committee or the floor.

This continued blockage is not only hurting residents who are interested in using cannabis recreationally, it also stifles entrepreneurs who would like to start companies that address the needs of marijuana companies, such as Advanced Container Technologies Inc. (OTC: ACTX).

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Published Peer-Reviewed Article on DehydraTECH(TM)-CBD, Bringing Publication Total to Eight

  • Lexaria’s latest peer-reviewed publications were published in June 2023 in the International Journal of Molecular Sciences, Advances in Therapy, and Biomedicine & Pharmacotherapy
  • Lexaria’s eight peer-reviewed publications support the company’s pursuit of launching an FDA-registered IND program to formally investigate DehydraTECH(TM)-CBD for hypertension
  • The global cardiovascular drug market was worth $146.5 billion and is expected to reach $173.5 billion in 2026 – making patent protection crucial in commercial markets
  • To date, Lexaria has a robust intellectual property portfolio with 34 patents granted and many more pending worldwide

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently announced the publishing of its groundbreaking research utilizing DehydraTECH(TM)-processed cannabidiol (DehydraTECH-CBD) in eight peer-reviewed articles in six different publications. Since 2016, the company’s patented DehydraTECH(TM) technology has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors, and more.

These publications build on Lexaria’s growing body of peer-reviewed literature developed on the company’s leading research into the effects of DehydraTECH-CBD on human health, including indications such as hypertension. The most recent paper is entitled, “Differences in Plasma Cannabidiol Concentrations in Women and Men: A Randomized, Placebo-Controlled, Crossover Study,” which was published in June 2023 in the International Journal of Molecular Sciences (https://cnw.fm/Fu8ee).

“We’re proud of the impressive amount of research that our company has been able to develop through its HYPER-H21 series of clinical studies that has now been assessed by a variety of our respected peers,” said John Docherty, President of Lexaria (https://cnw.fm/nOa7o). “Lexaria is establishing itself as one of the world’s leaders in the investigation of cannabidiol for the purposes of controlling human blood pressure, and we are now focused on launching an FDA-registered IND program to formally investigate DehydraTECH-CBD for hypertension this year.”

Additional publications include the following, which are also available at PubMed:

  • September 2019, “Examination of a New Delivery Approach for Oral Cannabidiol in Healthy Subjects,” published in the journal Advances in Therapy (https://cnw.fm/w7i3j).
  • June 2022, “Chronic Effects of Effective Oral Cannabidiol Delivery on 24-h Ambulatory Blood Pressure and Vascular Outcomes in Treated and Untreated Hypertension (HYPER-H21-4): Study Protocol for Randomized, Placebo-Controlled, and Crossover Study,” published in the Journal of Personalized Medicine (https://cnw.fm/jkl3S).
  • April 2023, “Trial of a Novel Oral Cannabidiol Formulation in Patients with Hypertension,” published in Pharmaceuticals (https://cnw.fm/aq1ig).
  • April 2023, “Chronic Effects of Oral Cannabidiol Delivery on 24-h Ambulatory Blood Pressure in Patients with Hypertension,” published in Cannabis and Cannabinoid Research (https://cnw.fm/P1eMz).
  • April 2023, “CBD supplementation reduces arterial blood pressure via modulation of the sympatho-chromaffin system,” published in Biomedicine & Pharmacotherapy (https://cnw.fm/70Nn0).
  • June 2023, “The Influence of Oral Cannabidiol on 24-h Ambulatory Blood Pressure and Arterial Stiffness in Untreated Hypertension,” published in Advances in Therapy (https://cnw.fm/g4dQl).
  • June 2023, “Effects of CBD supplementation on ambulatory blood pressure and serum urotensin-II concentrations in Caucasian patients with essential hypertension,” published in Biomedicine & Pharmacotherapy (https://cnw.fm/0qIDK).

The global cardiovascular drug market was worth $146.5 billion in 2022 and is expected to reach $173.5 billion in 2026 (https://cnw.fm/n0ti1). By region, North America is the biggest market in the world, making US patent protection necessary in the pursuit of commercial markets. The fields of diabetes and heart disease are broad but emerging markets making them two primary areas of interest for Lexaria – where DehydraTECH-CBD has already generated positive study data. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 34 patents granted and many more pending worldwide.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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420 with CNW — More States Ease 280E Code Burden on Marijuana Companies

The United States cannabis sector is reaping the benefits of long-awaited tax relief as more states, currently standing at 20, have sanctioned legislation that grants exemptions to businesses from Section 280E of the federal tax law. During the spring, lawmakers in Illinois, Connecticut, New York, and New Jersey passed bills that will enable marijuana companies to reduce their business expenses from state income taxes, despite the fact that these businesses are still illegal under federal law.

The expected savings could be substantial for larger businesses, depending on the corporation tax rate imposed by each state.

Nevertheless, the state-level exemption does not impact the federal taxes that marijuana companies are liable to pay, and these businesses will still be prohibited from deducting expenses for national income taxes. Section 280E of the Internal Revenue Service (IRS) tax act prohibits marijuana businesses from claiming conventional business deductions due to the classification of the plant as a Schedule 1 substance under the federal CSA.

The Marijuana Policy Project (MPP), a Washington, D.C.-based advocacy group, claims that legislation to free businesses from the restrictions of 280E has been passed in 16 states where recreational cannabis use is allowed. In contrast, 280E has not been waived for the adult-use cannabis sector in Arizona, Alaska, Maine, Washington State, or Nevada, while Rhode Island’s attempts appear to have stagnated in a legislative committee. Also excluded from 280E under state tax regulations are medical marijuana businesses in Washington, D.C., Arkansas, Maine, Louisiana, and Hawaii.

Legislators are passing exemptions that let the cannabis industry operate and deduct business expenditures similarly to any other industry in recognition that the existing tax rates are unsustainable and that tax income may decrease further if businesses break down.

However, since corporate tax rates vary across states, the benefits derived from state exemptions will differ depending on the location of the companies.

For instance, whereas Illinois has a flat corporation tax rate of 9.5% for all businesses after decoupling from 280E in May, Nevada has no corporate tax. New Jersey permits deductions for both corporate company tax and gross income tax, while some jurisdictions could have limitations on deductibility.

Nevertheless, industry watchers are mostly optimistic about big federal-level improvements. The cannabis industry will likely pay an additional $1.8 billion in 2022’s federal taxes compared to noncannabis businesses, according to research done by Oregon-based Whitney Economics. This sum is anticipated to reach $2.1 billion this year. In the meantime, investors are closely monitoring the progress of President Joseph Biden’s administration, which recently declared its desire to examine and perhaps change the scheduling of cannabis.

With or without a scheduling change for marijuana, the pharmaceutical-grade formulations being developed by enterprises such as IGC Pharma Inc. (NYSE American: IGC) from cannabis may not be affected. This is because these companies have to adhere to an existing set of requirements overseen by the FDA, the regulator responsible for approving any drugs before they enter the healthcare market.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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 — Nevada Eases Rules on Cannabis Consumption Lounges, Issues Conditional Licenses

Last week, the Nevada Cannabis Compliance Board unanimously passed a resolution that loosened rules for cannabis consumption lounges in the state. The measure, which also granted a trio of conditional licenses, reduced air-ventilation standards for cannabis consumption lounges in Las Vegas and other areas in the state.

Specifically, the number of complete air changes per hour in a single smoking room has dropped to 20 from 30. This is in line with similar venues, including taverns, cigar lounges and hookah bars. The board also reduced air revolutions in nonsmoking areas of marijuana consumption lounges from 20 times every hour to six times in an hour.

Prior to the board meeting, executives involved in the industry had voiced their concerns on regulations for consumption lounges, in particular those that cover indoor air quality and the hefty costs of air-ventilation system installation and maintenance. The regulators’ actions offer additional clarity for operators to proceed with design and construction plans while also making it easier and cheaper for lounges to launch in this tourist market.

Argentum Partners’ partner Scot Rutledge stated that these changes would allow new small businesses to operate safely while decreasing burdensome requirements that would cost thousands of dollars.

Sala Consulting President Chris Anderson stated in a meeting with regulators that the changes reduced the initial investment and operational costs of running the ventilation systems while also lowering the entry barrier for lounge operators. Sala Consulting represents one of the three companies that received a conditional license for a cannabis consumption lounge, Planet 13. The other two companies are Cheyenne Medical and Common Sense Botanicals Nevada.

In addition, regulators also approved the use of Billow, a smoke-elimination device that enables users to consumer cannabis via a closed-loop filtration system. The system’s inventor, Shanel Lindsay, stated that the company was thrilled that regulators approved the use of this device, allowing for innovative technology to be utilized in marijuana consumption lounges as an alternative to expensive systems. This, Lindsay noted, would allow equity businesses to thrive while also protecting employees of these businesses.

It is expected that other jurisdictions in the country will follow suit as these developments continue in Nevada, a tourist market that almost 40 million individuals visited in 2022.

At the moment, however, consumption lounges are still far from launch. This comes after the board signaled that further changes on air-quality standards in marijuana consumption lounges would be adopted at its next meeting.

As these lounges open and tourists flock in, product demand is likely to surge, and as a result, cultivation equipment of the kind that Advanced Container Technologies Inc. (OTC: ACTX) produces is likely to see increased sales.

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 — Wisconsin Supreme Court Says Cannabis Smell Provides Sufficient Grounds for Police Searches

Wisconsin’s Supreme Court has declared that the presence of a marijuana-like smell inside a car provides sufficient justification for police to search the vehicle’s occupants. This ruling, delivered last week by the court’s conservative majority in a 4 to 3 vote, overturned previous decisions by lower courts that maintained officers could not be certain whether they were detecting the scent of CBD.

In 2019, Quaheem Moore found himself subject to a search by two police officers when he was pulled over for exceeding the speed limit. He was alone in the vehicle, which emitted a smell resembling marijuana. Moore informed the police that he possessed a vaping tool containing CBD and that the car was his brother’s rental. The officers did not detect the scent of cannabis on Moore.

Moore contended in court that there was no evidence that he was the source of the odor.

To conduct a search, law enforcement must possess adequate evidence to reasonably believe that an individual has likely committed an offense. Additionally, any evidence obtained through an illegal search is inadmissible in court.

Although he was never charged with marijuana possession, Moore faced narcotics charges after the police found small bags of fentanyl and cocaine in his pocket. An appeals court and a circuit court judge had previously moved to exclude the drugs, deeming the search unlawful.

In its ruling, the Supreme Court cited a 1999 case in which it held that police had a legal basis to detain a motorist after identifying him by the marijuana odor emanating from his car. This viewpoint asserted that an offense had been committed if a controlled substance could be detected by smell alone.

The three liberal judges, however, questioned that decision, claiming it was out of date and did not take into consideration the later legalization of substances with a marijuana-like odor. They added that there was not enough proof for the police to believe Moore was to blame for the smell in the vehicle he was operating.

Joshua Hargrove, Moore’s lawyer, stated that the decision would allow police to conduct searches based on dubious assumptions without ever being held legally responsible.

The ruling emerges amid an ongoing debate between Republicans and Democrats in Wisconsin regarding the legalization of marijuana. Despite Governor Tony Evers’ efforts to legalize medical and recreational cannabis, the Republican-controlled House has consistently rejected these efforts. However, Robin Vos, the Republican Assembly Speaker, announced plans to introduce legislation legalizing medical cannabis soon.

Neighboring states Illinois and Michigan have already legalized marijuana, and Minnesota is set to legalize it in August following recently passed legislation.

For patients who have a chance to use the cannabis-based formulations being developed by entities such as IGC Pharma Inc. (NYSE American: IGC) once they hit the market, there will be no concerns about the smell of marijuana and the resultant police searches since these medicines will have followed the process leading to FDA approval and will not require the patient to smoke marijuana as they manage their health conditions.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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 — Colombia Senate Rejects Recreational Cannabis Bill

Cannabis reform efforts in Colombia recently came to a screeching halt after the Columbia senate rejected a recreational cannabis bill. The Senate voted down a measure that would have legalized the sale of adult-use cannabis and opened Colombia up to a multibillion-dollar cannabis industry.

Despite the setback, cannabis reform activists in the country, including President Gustavo Petro, have pledged to continue their efforts to legalize recreational cannabis in Colombia.

Colombia currently allows the home cultivation of up to 20 plants as well as the sale of cannabis-derived products such as creams and oils for medical use. However, like most countries, the South American nation has outlawed the sale of recreational cannabis to adults.

Opponents of the adult-use cannabis bill celebrated its rejection, stating that the move would protect families and their children from drug abuse and all the ails it brings. The rejected recreational cannabis measure would have limited public consumption of cannabis and placed restrictions on its sale and use near and in schools and universities. It would also have established treatment centers for people suffering from substance abuse disorders.

Reform proponents such as Colombia Interior Minister Luis Fernando Velasco argue that the country’s continued prohibition of recreational marijuana is only benefiting the criminals running the cannabis black market. Activists in countries such as the United States and Canada have also argued the same, stating that criminalizing cannabis use makes it easier for criminal elements to step in and supply the demand. This puts consumers in danger of using potentially harmful products, harms the environment and robs governments of millions in much-needed tax revenue.

According to Liberal Party representative Juan Carlos Losada, the proposed adult-use measure would have reduced public interactions with illegal sellers and even saved lives. Shortly after the bill’s rejection, Losada released a public statement saying that the legislation’s backers didn’t expect it to go so far. Although the measure was approved by 47 senators and rejected by 43, it needed at least five more votes to advance.

Columbia now joins nations such as New Zealand, Mexico, Germany and Israel, which have announced ambitious plans to legalize recreational marijuana but scaled back their plans or ultimately failed to follow through.

Still, Losada said that he does not consider the bill’s failure to advance a defeat, stating that he and other backers managed to bring such a controversial issue to the forefront of the public debate. He plans on reintroducing the adult-use measure in the upcoming legislative session over the fall.

This setback in efforts to get adult-use marijuana legalized has denied various entrepreneurs an opportunity to conduct business in the way that U.S.-based companies such as Advanced Container Technologies Inc. (OTC: ACTX) serve indoor growers within U.S. states that permit medical or recreational marijuana sales.

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Grows Robust Intellectual Property Portfolio to 34 Worldwide Patents with Receipt of 4 New Granted in Canada, US

  • Lexaria Bioscience recently received four new patents granted in Canada and the United States
  • In the U.S., the company received two new hypertension-related patents expected to be of particular importance as the company pursues FDA approval for a Phase 1b study evaluating DehydraTECH(TM)-processed CBD
  • So far, the company has a robust intellectual property portfolio comprising 34 patents granted worldwide
  • The strong portfolio gives the company the necessary impetus and peace of mind to pursue multiple large markets, starting with the multi-billion dollar cardiovascular drugs market
  • The company has conducted five human clinical studies that have provided insights into the potential of DehydraTECH-CBD to reduce blood pressure

Lexaria Bioscience’s (NASDAQ: LEXX) intellectual property (“IP”) rests on a strong foundation of granted patents worldwide, a foundation that was recently strengthened by new patents granted in North America. The company, which is developing its patented DehydraTECH(TM) technology platform with the intention of availing it to the masses as an additional step in the manufacturing or processing of active pharmaceutical ingredients (“APIs”) with better bioavailability and bioabsorption properties, celebrated the receipt of four new patents granted in Canada and the United States (https://cnw.fm/ZYNTt).

In Canada, the company has been granted two new patents, the first for Patent Family #1: Food and Beverage Compositions Infused with Lipophilic Active Agents and Methods of Use Thereof. According to the company, this is the first patent for this Patent Family issued in Canada, but the 18th patent in this family worldwide. The second patent granted falls under the company’s Patent Family #8: Compositions Infused with Nicotine Compounds and Methods of Use Thereof and is the company’s second patent in this Patent Family, following a similar issuance in Australia.

Across the border in the United States, Lexaria received two new hypertension-related patents, both under its Patent Family #21. The first covers Pharmaceutical Compositions and Methods for Treating Hypertension, while the second is for non-pharmaceutical Compositions and Methods for Treating Hypertension. The company expects these two patents to reinforce its commercial opportunities in both pharmaceutical and consumer markets.

The two new hypertension-related patents come at a time when the company is looking to file its Investigational New Drug (“IND”) application seeking approval from the Food and Drug Administration (“FDA”) to commence the formal and registered study HYPER-H23-1, a Phase 1b evaluation of DehydraTECH-CBD for hypertension, later this year. In fact, Lexaria believes these patents “could be of particular importance related to the company’s pursuit of utilizing DehydraTECH-CBD in relation to our expected upcoming FDA IND application.”

Once approved, the FDA-registered IND program will build on positive data from five hypertension-focused human clinical trials, which evidenced lower blood pressure among participants who received DehydraTECH-processed CBD.

The company’s first human study of 2021, HYPER-H21-1, evidenced a reduction in BP across both male and female volunteers, with the drop most pronounced within the first 10-50 minutes after dosing (https://cnw.fm/980Ou). HYPER-H21-2, a 16-person study, evidenced up to a 23% average drop in overnight blood pressure and reduced arterial stiffness (https://cnw.fm/s3CmC), while HYPER-H21-3, also a 16-person study, showed that DehydraTECH-CBD’s use reduced pulmonary artery systolic pressure by about 5 mmHg or 41% overall among male participants (https://cnw.fm/YQxZV).

The company then conducted the HYPER-H21-4 study, its most comprehensive study yet, involving 66 participants. This fifth study evidenced the exceptional safety and tolerability profile of DehydraTECH-CBD, with the formulation resulting in a statistically significant lowering of 24-hour ambulatory blood pressure. The company also observed that the formulation lowered patients’ BP throughout the entire study duration (5 weeks) and that it was effective at lowering the BP among patients who were taking other antihypertensive drugs as well as those who were not taking any such drugs (https://cnw.fm/0tbue). The company has also released additional findings from this study, adding to its list of successes announced in 2023.

So far, on the IP front, for example, the company has received seven new granted patents in the current financial year (2023), which commenced September 1, 2022, six of which have been awarded in calendar 2023. As a result, Lexaria now holds 34 granted patents worldwide. The company has achieved considerable intellectual property protection through this existing patent portfolio, giving it the necessary impetus and peace of mind to pursue multiple large markets, including the cardiovascular drugs market, which is projected to grow at a 3.1% CAGR from $153.6 billion in 2022 to $173.48 billion by 2026 (https://cnw.fm/TcVIq).

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

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420 with CNW — NCAA Panel Seeks to Get Cannabis Off Banned Substances List

College athletes may soon earn a reprieve against anti-cannabis policies that prevent athletes from consuming cannabis and penalize those who do. Much like the federal government, most sports organizations have banned cannabis consumption among their respective athletes. However, the NCAA Committee on Competitive Safeguards and Medical Aspects of Sports is urging the National Collegiate Athletic Association to remove marijuana from its drug testing protocols and list of banned substances.

After decades of federal criminalization and millions of lives changed, a wave of cannabis reform is sweeping across America, leaving dozens of states with either medical or recreational cannabis markets, sometimes both. America’s state-legal cannabis industry is now one of the fastest-growing sectors in the country, responsible for employing hundreds of thousands of people and providing states with billions of dollars in tax revenue.

However, marijuana is still controlled at the federal level and is classified as a Schedule I drug with no medical applications. This is despite the fact that numerous studies have found cannabis to be effective against several medical conditions and more than 30 states allow medical marijuana use. This means that certain classes of employees, including professional athletes, can be penalized for using cannabis as per state regulations. For example, American sprinter Sha’Carri Richardson recently lost her spot in the Tokyo Olympics after testing positive for cannabis before the race.

If the NCAA panel is successful, drug testing will be limited to substances that can enhance performance, which cannabis cannot. The NCAA panel said in a recent statement that its committee would collect input on the move to remove cannabis from the list of banned substances over the summer before taking action in the fall.

At a meeting in mid-June, the committee requested that the NCAA pause cannabis testing among athletes until the matter is finally put to rest. According to committee members, the association should approach cannabis as it did alcohol and eliminate punitive measures for cannabis use in exchange for education on the health risks posed by using the drug.

If the NCAA agrees, this wouldn’t be the first time it has stepped back on some of its punitive cannabis policies.  In 2022, the association increased the maximum threshold of THC, the main psychoactive agent in cannabis, and recommended a restructuring of the penalty structure for athletes who fail THC tests via the Committee on Competitive Safeguards and Medical Aspects of Sports.

The National Football League (NFL) has also stopped testing its players for cannabis during the off-season while the MLB announced in 2019 that it would remove cannabis from its list of “drugs of abuse.”

Companies such as IGC Pharma Inc. (NYSE American: IGC), which are focused on developing FDA-approved therapeutic formulations from marijuana compounds, are likely to help athletes and other groups of patients benefit from the medical effects of marijuana without taking the risk of running afoul of any existing laws, whether federal or state level restrictions.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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 — LA Cannabis Consumption Lounges Face Delays in Opening

Las Vegas, a city that derives a significant portion of its annual revenue from tourism, is one of the many regions looking to tap into cannabis consumption lounges. However, it seems that industry stakeholders and consumers will have to wait a little longer before the city officially launches the consumption lounges.

More than a decade after America’s recreational cannabis industry started taking shape, the public consumption lounge segment has failed to make much headway.

Cannabis reform was always a controversial topic, and even though dozens of states now have either medical or recreational markets, cannabis still doesn’t enjoy 100% support. It is illegal at the federal level, and many local governments and municipalities still don’t allow cannabis-related trade within their spheres of influence.

Even so, stakeholders in several states are working to launch consumption lounges and corner a segment that could prove to be quite lucrative: cannabis tourism. It is becoming increasingly common for Americans in states without legal recreational cannabis markets to travel to states that allow adult marijuana use to indulge in the drug.

However, with most states banning public consumption of cannabis, these “cannabis tourists” often have no way of consuming cannabis unless they are friendly with a resident who could host them at their home.

Efforts to open cannabis consumption lounges in Nevada have been held back for months by limited funding, administrative hurdles, and evolving government regulations on smoke ventilation. Industry experts fear that these and other factors may hinder the launch of the marijuana consumption lounge segment to such a degree that only a few lounges may be open across the entire city by the end of the year.

Factors such as Nevada’s policies on indoor air quality coupled with the immense costs (up to hundreds of thousands of dollars) associated with installing and servicing approved air ventilation systems will likely lock out a large chunk of potential entrepreneurs.  These costs would also make it borderline impossible for social equity licensees to gain a foothold in the market as they often come from economically underprivileged areas.

At the moment, the entire state of Nevada has just one legal consumption lounge; the site is located on tribal land and operated by the Las Vegas Paiute Tribe.

Fortunately, it seems that regulators are willing to find a compromise on air quality regulations. According to Nevada Cannabis Compliance Board (CCB) Executive Director Tyler Klimas, state regulators know they will have to tweak regulations to allow the launch of a successful consumption lounge program.

This delay to open consumption lounges doesn’t only affect companies that directly deal with the plant. Ancillary entities such as Advanced Container Technologies Inc. (OTC: ACTX) could also lose out on business since the boom in consumption would have triggered demand for extra cultivation equipment.

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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