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 — 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.

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

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420 with CNW — Five Compliance Mistakes Cannabis Companies Should Be Wary Of

Operating within one of the most fragmented regulatory landscapes in the world, businesses involved in the cannabis industry face unique challenges. With the expansion of the U.S. markets, the complexity of cannabis compliance requirements is on the rise.

The significance of adhering to marijuana regulatory compliance cannot be emphasized enough. Implementing a robust compliance program is crucial for safeguarding businesses, reputations, licenses and pipelines. Compliance also plays a key role in fostering a culture of accountability, where employees are encouraged to adhere to frequently changing rules.

Here are the top five mistakes to avoid when it comes to cannabis compliance:

Insufficient understanding of regulating agencies

A common error made by cannabis entrepreneurs is neglecting to comprehend the governing agencies overseeing their operations. At the local level, businesses may face regulation by boards of supervisors and city councils as well as departments such as fire, planning, police, public health and tax.

Establishing a strong compliance program begins with creating a comprehensive list of all relevant local and state regulatory agencies and ensuring easy access to their contact information.

Ignoring ongoing compliance efforts

Regulations applicable to the cannabis industry are subject to change. Companies need to stay informed by actively monitoring local and state agencies as well as legislative developments in key markets. These entities usually provide advance notice when discussing cannabis-related matters.

Subscribing to email notifications from relevant authorities and implementing a system to track important meetings, monitor agency websites, and stay updated on the latest proposed and final regulations is essential.

Neglecting standard operating procedures, checklists and monitoring logs

This is one of the most significant oversights. Without a solid understanding of day-to-day business processes, maintaining compliance becomes nearly impossible.

Taking the time to identify potential compliance risks and implementing SOPs can help mitigate such risks. For example, checklists may be necessary for packaging and labeling, while visitor logs can ensure facility security. It is also crucial to train staff on the implementation of these tools.

Inaccessibility of documents

Countless businesses have faced repercussions due to their lack of understanding regarding reporting requirements. Operators often fail to keep records easily accessible for document requests from state or local agencies. Creating a master list of records and organizing them for quick access when needed is a recommended approach.

Integrating reporting requirements into SOPs and ensuring employees understand the situations that trigger reporting is crucial.

Clearly identifying whether a situation requires prior approval or can be reported afterward is also beneficial. A comprehensive and easily accessible list of reporting requirements significantly aids compliance efforts.

Underutilizing available tools

Many companies neglect to leverage technology and tools that can identify compliance issues proactively. Industries such as banking, finance and insurance have widely adopted software-as-a-service (SaaS) solutions for regulatory compliance and business operations. Similarly, SaaS solutions are now available for the cannabis industry, allowing business owners to electronically store and organize documents.

These tools enable easy searching, downloading and printing of records, as well as tracking processes and identifying potential problems. By utilizing these tools, businesses not only protect public safety but also safeguard their reputation, saving valuable time and money.

For companies such as IGC Pharma Inc. (NYSE American: IGC) that seek to commercialize FDA-approved cannabis-based treatments, the compliance requirements are clear, and they don’t have to navigate a labyrinth of differing state laws in each jurisdiction in which they wish to operate. This is different from what marijuana companies face in their bid to grow their footprint in different markets around the country.

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.

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Nevada Governor Enacts Measure Reforming Cannabis Law

Nevada Governor Joe Lombardo recently signed a measure into law that makes a number of changes to the state’s marijuana legislation. The Republican governor signed the bill — State Bill 277 — on June 14, 2023.

The recently enacted legislation makes significant changes to Nevada’s cannabis laws. Notably, there will be a more than twofold increase in recreational cannabis purchase and possession limitations. One ounce of cannabis will now be replaced by 2.5 ounces as the maximum amount that one person may own or purchase. A quarter ounce will be the new maximum for cannabis concentrates, which will increase from one-eighth of an ounce currently.

Additionally, the legislation grants permission for all adult-use marijuana dispensaries in the state to sell their products to medical cannabis patients. However, starting next year, state marijuana regulators will no longer issue new licenses for medical cannabis businesses, except in areas where recreational marijuana dispensaries are prohibited.

SB 277 also relaxes Nevada’s prohibition on those with felony records working for or engaging in cannabis-related enterprises. The bill gives the Nevada Marijuana Compliance Board the authority to grant licenses to organizations whose stakeholders have a history of felony convictions.

Nevertheless, the board must determine whether issuing such permits would risk public health and safety or have a negative effect on the state’s cannabis sector. The board has the power to establish the required restrictions and requirements to protect the general welfare, prevent injury or death, and decrease any unfavorable consequences for the cannabis business.

Under the new law, individuals with prior marijuana-related felonies can petition the state to work in a licensed marijuana enterprise without the requirement of expunging their records. According to Vicente LLP’s law firm partner Meg Nash, these SB 277’s provisions reflect a fundamental principle of contemporary marijuana legalization plans.

Nevada’s new marijuana reform law also charges the state’s Cannabis Advisory Commission with undertaking research. The goal of the study is to investigate any potential repercussions of abolishing the federal prohibition of cannabis and delisting marijuana from Nevada’s Uniform Controlled Substances Act.

The act also mandates that state authorities consider any potential negative environmental effects of any proposed modifications to Nevada’s cannabis laws. If such unfavorable impacts are found, regulators must consider ways to reduce or eliminate those impacts without placing a financial burden on those who have licenses for adult-use or medical cannabis establishments.

The Nevada cannabis reform law will fully take effect on January 1, 2024, with some of the approved provisions taking effect right away.

It is expected that the increased possession limits will boost sales. That could, in turn, have positive knock-on effects upon the sales of ancillary entities such as Advanced Container Technologies Inc. (OTC: ACTX) as well as those of marijuana companies.

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.

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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2023 Maine Cannabis Convention Joins MMCM’s HomeGrown TradeShow for Nation-leading Event

The Maine Cannabis Convention, billed as the largest B2B event in the state, will move from Portland to Augusta this year for its seventh annual gathering in a state where sales of recreational cannabis nearly doubled last year.

Since the Maine adult-use market’s first full month of operation in October 2020, the state’s industry saw new records set every month through August 2022, and by year-end the sales figures were still close to that peak (https://cnw.fm/vIKfh).

The 2023 Maine Cannabis Convention take place August 12-13th and will continue the series’ tradition of bringing together the region’s best speakers on multiple programming tracks, a congregation of decision-makers and cannabis/hemp business people attendees, and floorspace for exhibitors who display all kinds of products and services, ranging from cultivation to accounting.

The details are still coming together but, if the previous conventions are any indicator, attendees can expect to mingle with hundreds of delegates and about 150 exhibitors.

Businesses interested in exhibition space can register at https://cnw.fm/lJuH4. More than 50 booth spaces have already been reserved, including a spot for last year’s Vape Cartridge NECANN Cup winner HIGHTECH Labs.

The NECANN Cup is the largest cannabis competition in New England and provides an opportunity for innovators to shine, particularly in the crowded marketplace that Maine’s cannabis industry has become.

This year, the convention will work in partnership with the Medical Marijuana Caregivers of Maine (MMCM) to combine the annual event with MMCM’s HomeGrown TradeShow, bringing patients and their caregiver advocates into the mix.

Medical-use cannabis has been allowed in Maine since 1999, with voter-approved dispensary and state registry becoming legal a decade later (https://cnw.fm/ak38n). The MMCM was organized in 2010 as a volunteer trade association dedicated to the support and promotion of safe access to medical marijuana, and the MMCM HomeGrown TradeShow is now in its 11th year of scheduled events in Augusta.

Key takeaways:

  • Combining for the first time with the Medical Marijuana Caregivers of Maine’s (MMCM’s) HomeGrown TradeShow in Augusta, Maine, for the largest B2B cannabis industry event in the state
  • Taking place Saturday and Sunday, Aug. 12-13
  • About 150 business exhibitors expected, with more than 50 already registered
  • Attendees include decision-makers and cannabis/hemp business people for those interested in networking
  • Competition for the NECANN Cup in a variety of categories

Behind the scenes:

Since 2014, the New England Cannabis Convention (NECANN) has sponsored events including annual conferences in celebration of hemp, medical marijuana and adult cannabis use, and the organization is widely known as a leading force in the adoption and celebration of cannabis consumption from Maine to Oklahoma as the popularity and legality of the market continues to spread.

For more information about this event and to register, please visit https://cnw.fm/iaChz.

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)

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

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
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www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Feds Intend to Complete Marijuana Scheduling Review This Year

During a press briefing in Sacramento last week, U.S. Secretary of Health and Human Services (HHS) Xavier Becerra revealed his intention to provide President Joe Biden with a federal marijuana scheduling decision within this calendar year. Becerra acknowledged the agencies’ concerted efforts to swiftly complete the administrative review.

While previous statements emphasized the urgency of the marijuana review initiated by the president last year, the specific timeline remained unclear. Now Becerra has unveiled his target for fulfilling the president’s directive.

The FDA is evaluating marijuana scientifically through eight different processes under the authority of HHS. The goal is to establish if the substance should be descheduled, rescheduled or kept in Schedule I, which is a classification reserved for substances that are subject to the strictest regulations under the CSA.

Becerra emphasized the collaborative approach of HHS and other agencies, such as the DEA, in striving for an evidence-based response aligned with scientific findings. He expressed optimism about reaching a conclusion relatively soon, ideally this year. Although not a precise deadline, this is the most detailed timetable given by a senior government official, offering valuable insight into the secretary’s expectations for the following six months.

After HHS completes its study, it will send a scheduling suggestion to the DEA, which has the last say regarding the matter. The DEA can choose to ignore the resulting suggestion even if the scientific conclusions of the health agency are admissible in court.

Several legislators, including Congressional Progressive Caucus members and Barbara Lee, cochair of the Congressional Cannabis Caucus, have joined cannabis supporters in pressing the Biden administration to speed up the scheduling review procedure. At the same time, these lawmakers are pursuing incremental reforms such as marijuana banking.

BOWL PAC founder Justin Strekal emphasized the importance of marijuana descheduling to accomplish the Biden administration’s stated objectives, which include matters such as reestablishing the legitimacy of the law and addressing racial justice.

Becerra acknowledges that the completion of the schedule review by his department is of great public interest. Prioritizing safety and efficacy as guiding principles, he stated in March that action needed to be taken quickly while acknowledging the several stages necessary before deciding.

More than a dozen members of Congress from both parties called for transparency in the cannabis scheduling review in a letter delivered in March to Becerra and Merrick Garland, the U.S. Attorney General. The letter emphasized that Biden’s directive gives a chance to evaluate the causes and effects of federal policy rigorously. It noted the significance of acknowledging marijuana’s current status as a state-regulated narcotic and how scheduling marijuana was motivated by stigma rather than research.

Garland stated during a March Senate hearing that the Department of Justice (DOJ) is still drafting its marijuana policy in anticipation of the findings of the scientific assessment conducted by health agencies.

Many entities, such as IGC Pharma Inc. (NYSE American: IGC), are likely to take an interest in how the scheduling review pans out since it could have far-reaching effects on marijuana as a substance of interest and how its derivatives are used.

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.

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
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http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Governor Enacts Cannabis Expungements Resolution into Law

Last week, the governor of Louisiana enacted into law a measure that made it easier for individuals with first-time convictions on cannabis possession to apply for record expungement. This comes after the governor signed a resolution in 2021 that decriminalized the possession of no more than 14 grams of marijuana.

The initiative in question, which was introduced by Rep. Delisha Boyd, was advanced through the legislature about two weeks ago. This measure makes it so that individuals convicted of possessing no more than 14 grams of marijuana as a first offense can get their record expunged 90 days after they were convicted.

This approval by Gov. John Bel Edwards will reduce the relief timeline, especially since the current legislation allows people to clear their records after a five-year period.

Prior to its approval, the resolution was amended in a House committee to stipulate that cannabis possession cases that involved more than 14 grams weren’t eligible for expungement. The amendments also eliminated a provision that waived court processing fees for first-time marijuana expungements.

The measure, which will go into effect on Aug. 1, 2023, set $300 as fees for record expungement. The bill stipulates that the processing fees collected will be allocated in equal proportions to the sheriff’s general fund and the district attorney’s office. It also includes a template for a motion to clear records that individuals can fill and submit to the court in their jurisdiction.

Currently, 70% of people in the state of Louisiana support the legalization of recreational cannabis possession for adults. Results from the same survey also found that 90% in Louisiana support the legalization of medical marijuana.

Despite these favorable attitudes, cannabis legalization by the legislature has stalled. However, legislators have taken steps to reform marijuana laws and improve the state’s medical cannabis program. For instance, a measure that would ensure individuals remained eligible for unemployment benefits if they were registered medical marijuana patients was recently cleared by a House committee.

Additionally, regulators gave physicians a temporary go-ahead to continue issuing medical cannabis recommendations through telemedicine in 2022. Furthermore, a legislative task force passed rules in 2022 that provided worker protections for medical marijuana patients.

During the previous session, Gov. Edwards signed various cannabis reform measures, including one that would prevent law enforcement officers from conducting searches in individuals’ homes over the smell of marijuana.  Another reform measure that was signed would increase the number of medical dispensaries that could operate in the state of Louisiana.

As more reforms are enacted in Louisiana and elsewhere around the country, business could improve for various enterprises, such as Advanced Container Technologies Inc. (OTC: ACTX), since the improved operating environment would support more growers that would in turn need more 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.

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

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CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Data Shows Reduced Incidents Between Cops, Youth in Canada After Cannabis Legalization

The legalization of cannabis in Canada has had a notable effect on the interaction between young citizens and law enforcement, as per recent data released earlier this spring. The findings, published in the “Drug and Alcohol Dependence” journal in April, revealed that the country’s marijuana legislation, which has been in place for five years, resulted in a significant decrease in reported cannabis-related offenses among individuals aged 12 to 17, regardless of gender.

By examining police records from Jan. 1, 2015, to Dec. 31, 2021, researchers affiliated with the Center for Addiction and Mental Health in Toronto discovered a substantial decline in daily incidents for both young males and females. Among young females, there was a notable 62.1% reduction, equating to 4.04 daily incidents. In the case of young males, the daily offenses decreased by 53% to 12.42.

Canada’s Cannabis Act, which officially took effect in October 2018, legalized the recreational use of marijuana for adults aged 18 and above. The researchers concluded that the impact of the Cannabis Act on diminishing marijuana-related offenses among young individuals persists over time, aligning with the act’s primary goal of reducing criminalization associated with cannabis use among youth and its subsequent effects on the Canadian justice system.

The researchers also observed that the legalization of cannabis showed no discernible link to patterns of property crimes or violent offenses.

NORML, in its report, quoted the researchers as stating that the Cannabis Act had led to substantial and consistent reductions of approximately 50% to 60% in cannabis-related criminal incidents reported by young males and females over a span of about three years following legalization.

The researchers asserted that these findings demonstrate the benefits associated with implementing the Cannabis Act, given the negative social and individual-level consequences of young people’s involvement with law enforcement and the criminal justice system due to cannabis-related offenses.

Additionally, the researchers had previously reported that the Canadian Cannabis Act of 2018, which allowed youth to possess up to 5 grams of dried cannabis or its equivalent for personal use or sharing, resulted in a short-term (76 days) reduction in police-reported, cannabis-related crimes among youth.

These findings align with another study published in “Drug and Alcohol Dependence,” which demonstrated that the legalization of recreational marijuana use and cannabis sales in Canada did not contribute to an increase in motor vehicle accidents.

Similarly, a 2021 study produced analogous results, revealing no significant changes in traffic-related injuries or emergency department visits among drivers, including youth, following the implementation of the Cannabis Act.

The concerns about the possibility of cannabis legalization leading to increased crime rates or higher rates of incidents between the youth and police seem largely unfounded as the studies above show. Attitudes about marijuana are likely to improve even more once the THC-formulations by companies such as IGC Pharma Inc. (NYSE American: IGC) hit the market after obtaining the approval of the FDA.

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.

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — How to Leverage Consumer Data While Marketing Cannabis

The cannabis industry exists in a precarious position. While dozens of states have legal and robust cannabis markets, the federal government still classifies cannabis as a controlled drug. This federal classification places significant restrictions on America’s state-legal cannabis industry, with cannabis marketing being the hardest hit. Cannabis businesses in most states have to contend with strict marketing limitations and can’t use most conventional advertising avenues such as social media to market their products.

Despite these barriers, businesses in the cannabis space can still optimize their marketing efforts by leveraging consumer data. Studying how different kinds of consumers approach cannabis use can help businesses tweak their marketing and attract more customers.

For instance, men and women deal with cannabis consumption differently. Women are more likely to avoid substance-use-like behaviors while men tend to engage in binge-like behaviors. In addition, according to a 2020 study from Canada, men tend to use cannabis to seek opportunities for intimacy with women while women are more selective.

Cannabis is a relatively new industry, and a lot of the consumer information companies are gathering is brand new. This data is an invaluable resource that can help businesses figure out consumers’ needs and wants and tailor their brands and marketing efforts to best meet these needs, industry experts say.

Aurora Cannabis, a medical cannabis provider headquartered in Edmonton, Canada, is one of the companies leveraging data aggregation to improve product development and ensure better customer experiences. The company recently partnered with the medical marijuana-use tracking app Stainprint to collect customer feedback. Stainprint allows medical marijuana patients to report things such as the symptoms they want to treat via medical cannabis and how the specific strains they took made them feel.

According to Aurora Cannabis’s vice president of innovation and customer preference Lana Culley, the app also allows the company to collect demographic data. Culley said the company would integrate the data collected through Stainprint into its decision-making pipeline and use it to glean insights on the market.

The data has shown Aurora that THC is still a major seller regardless of age, sex, gender or location, and has given the company more incentive to keep focusing on its cannabis breeding program, Culley said. However, she notes that consumer data collection is still a new field in the cannabis market and the industry still doesn’t have enough “robust tools” to gather consumer data and learn consumer opinions of various cannabis products.

As cannabis companies get better at leveraging data in their efforts to advertise their products within the space available to them, sales could improve, thereby also increasing the business opportunities for cultivation equipment makers 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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CannabisNewsBreaks – InMed Pharmaceuticals Inc.’s (NASDAQ: INM) 755-201-EB Trial Demonstrates Clinically Important Results

InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development, manufacturing and commercialization of rare cannabinoids and cannabinoid analogs, today announced safety and efficacy results from its phase 2 clinical trial. The purpose of the trial, called “755-201-EB,” was to evaluate the safety of INM-755 CBN cream, which consists of the control cream plus the active pharmaceutical ingredient CBN, and obtain preliminary evidence of efficacy in treating symptoms and healing wounds over a 28-day period in patients with epidermolysis bullosa (“EB”). According to the announcement, of the 18 participants assessed, chronic itch improved by a clinically meaningful amount in 12 patients (66.7%). “This is an important day for the company, as we report that INM-755 CBN cream demonstrated sufficient clinically important anti-itch activity to warrant further development. We are very encouraged that INM-755 CBN cream could someday provide itch relief for patients with EB and possibly other diseases,” said Alexandra Mancini, SVP of Clinical and Regulatory Affairs at InMed. “We are deeply grateful for all of the individuals with EB and their families who participated in the study and for the investigators and clinical team who conducted this trial.”

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

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. The company also has significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, visit www.InMedPharma.com and www.BayMedica.com.

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

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 — Mother, Son Create Edible to Reverse Marijuana High

The legalization of adult-use cannabis in Massachusetts has led to an increase in individuals exploring the world of cannabis. However, amid this experimentation, there can be an undesirable and unexpected aspect to the experience: the unending high.

A dynamic duo consisting of a mother and her son, both from Boston, may have stumbled upon a potential solution, aptly named Soft Landing. Eli, the son and a recent graduate from Cornell University, describes Soft Landing as a unique twist on the traditional edible. While typical edibles bring about an intoxicating effect through THC, Soft Landing aims to counteract this by providing a calming influence.

Stoloff became aware of the need for such a product during his time at Cornell, where he heard stories of fellow students consuming edibles with no easy way to come down from the intense high. “The delayed effects of edibles are the cause,” he said. “You consume a gummy bear, wait patiently for 10 minutes, feel nothing, and then consume two more. An hour later, you find yourself on your bathroom floor, bewildered and disoriented.”

To address this issue, Stoloff and his mother, Alice Stone, embarked on a journey to develop a chocolate bar that would grant marijuana users greater control over their high. Stone, an entrepreneur with expertise in alternative healing methods, stumbled upon a medical journal article describing a naturally occurring molecule present in various herbs and spices. This molecule exhibited the potential to counteract the effects of THC, the psychoactive component of cannabis.

“After extensive experimentation and fine-tuning,” Stoloff explains, “we managed to formulate the optimal delivery method for this molecule, ensuring maximum efficacy.”

Subsequently, Soft Landing underwent a medical survey, revealing that 80% of participants rated it as “effective” or “very effective.” This positive response caught the attention of Sean Hope, cofounder of Yamba Market in Cambridge, who has now become an investor in the venture. Hope personally tested the chocolate and shared his experience. “It truly brought about a sense of balance within me,” he said. “The impact was immediate. I can confidently say that this product works. . . . I am convinced that we have a winning product here, and together, we are unstoppable.”

Looking ahead, Soft Landing is on the verge of entering the consumer market and actively seeking further investors to expand production and meet the growing demand.

For the individuals who will have access to the THC-based formulations made by companies such as IGC Pharma Inc. (NYSE American: IGC), there will be no risk of getting “high.” These companies are making offerings that meet strict FDA requirements so that patients can reap the benefits of the cannabinoid without being intoxicated by their medication.

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.

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.