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 — Wholesale Cannabis Prices in Michigan Stabilizing

Wholesale cannabis prices in Michigan have finally begun stabilizing after years of historically low prices. Much like several other states with legal cannabis markets, Michigan was inundated with multitudes of sellers who flooded the market with cannabis flower soon after the controversial plant was legalized, thereby causing oversupply issues.

The cannabis industry had proven to be incredibly lucrative at that point, and plenty of players were attracted by the prospect of making significant returns on their investments. However, the oversupply of cannabis flower in Michigan caused wholesale prices to plummet by 74% from $351 per ounce in December 2020 to an all-time low of only $91 for an ounce of recreational cannabis flower in December 2022.

More than six months into 2023, wholesale prices in the state have leveled off and even enjoyed modest increases, giving producers hope that prices may not dip to the lows of previous years. The average price of cannabis flower per pound in February 2021 was $1,510 before dropping by 27% to $789 in February 2023. Prices have been on the rise since then, increasing to $832 per pound in April, $907 in May and $963 last month.

Industry experts believe that the stabilization of wholesale cannabis flower prices was due to several factors. For starters, the market was able to absorb much of the outdoor cannabis remaining from the previous season. There was also an increase in municipal governments that allow retail cannabis sales, and authorities stepped up their efforts to curb activity in the illicit cannabis market. Cannabis executive Narmin Jarrous explains that such illicit players often bring illegal cannabis into the market and sell it for pennies, making it extremely difficult for licensed sellers to compete and make a profit.

Michigan is projected to be the second-largest cannabis market in the United States after California, and addressing the illicit market as soon as possible can prevent Michigan from ending up like California where the illicit market regularly outsells licensed retailers.

Retailers in the Michigan cumulatively sold $2.3 billion worth of cannabis in 2022, and they are projected to sell up to $3.1 billion worth of cannabis this year. However, despite the recent stabilization in wholesale cannabis prices, some industry insiders expect several market factors to continue pushing cannabis prices down. This includes the fact that Michigan currently doesn’t have a statewide cap on the total number of marijuana business licenses, meaning the market is still at risk of dealing with oversupply issues.

This stability in the wholesale cannabis market is likely to spur existing growers to invest in better cultivation equipment from suppliers such as Advanced Container Technologies Inc. (OTC: ACTX) in order to optimize their operations and boost their margins.

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 – Institute of Biomedical Research Corp. (MRES) Unveils Meticulously Crafted Line of Teas Sourced from Kenya

Institute of Biomedical Research (OTC: MRES) (doing business as M2Bio Sciences) is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids, medical psilocybin and mental health therapeutic research powered by artificial intelligence and evidence-based sustainable products and solutions. M2Bio Sciences today announced the forthcoming launch of a captivating line of teas sourced from the scenic gardens of Kenya. The meticulously crafted collection provides not only an exquisite sensory experience but also delivers exceptional medicinal health benefits. “We are delighted to introduce our exceptional line of purple, white and green teas from Kenya,” said Jeff Robinson, CEO of M2Bio Sciences. “Our purple tea strain has about 135 times more antioxidants* compared to a traditional black tea, so we definitely tick the box for health. In terms of addressable market, according to a report published by Vantage Market Research, the global green tea market was valued at US$13.41 billion in 2021 and is projected to reach US$26.16 billion by 2028 with a CAGR of 8.71%**. We plan to take a good chunk of that! These teas embody our commitment to providing products that promote holistic well-being. Through our partnership with the esteemed tea experts of Kenya and our team of researchers in the M2Bio Phytomedicine Labs at the University of Pretoria, we are able to offer tea enthusiasts worldwide an unparalleled combination of extraordinary taste and outstanding health benefits.”

To view the full press release, visit https://cnw.fm/n4Nix

About Institute of Biomedical Research Corp./ DBA M2Bio Sciences

Institute of Biomedical Research is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids, medical psilocybin and mental health therapeutic research powered by artificial intelligence, and evidence-based sustainable products and solutions, that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx(TM), Medspresso(TM), Liviana(TM) brands as well as artificial intelligence powered nutrition products and solutions under the M2Biome brand. In addition, its research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness and cardiovascular diseases. The company’s mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research and emerging technologies such as artificial intelligence. The company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol MRES. For more information, visit the company’s website at www.M2Bio.co.

*Khan et al., Med Aromat Plants (Los Angeles) Purple Tea Composition and Inhibitory Effect of Anthocyanin-Rich Extract on Cancer Cell Proliferation 2018, 7:6 DOI: 10.4172/2167-0412.1000322 https://www.semanticscholar.org/paper/Purple-tea-composition-and-inhibitory-effect-of-on-Khan-Bashir/b214419bc08ee495790648719dd5d40026932fe2

**Vantage Market Research Green-Tea-Market-Size-Share-to-Surpass-26-16-Billion-by-2028-Vantage-Market-Research

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)

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

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The Much-awaited Cannabis Drinks Expo Returns to Chicago

Cannabis Drinks Expo to be held in Chicago, IL on August 1, 2023. The much-awaited event is set to bring together the greatest and brightest minds in the cannabis-infused beverages industry.

As the leading event for the cannabis drinks industry, Cannabis Drinks Expo (“CDE”) offers a unique platform for distributors, retailers, and businesses, to network, learn, and grow. The Expo will feature a wide range of product demos, educational seminars, and networking opportunities.

The Cannabis Drinks Expo 2023 will provide a diverse mix of exciting features, including:

  • A spacious exhibit hall to enable product exhibition for brands
  • An educational session focused on the technology and cannabis industry
  • Unlimited networking opportunities for attendees to connect with business leaders
  • A product sampling area where participants can sample the newest cannabis drinks

Advancements in the Cannabis Drinks Industry

The Cannabis Drinks Expo 2023 is the perfect event for professionals in the cannabis drinks industry. The Expo will feature an advanced product demo area where participants can sample the latest cannabis drinks. It’s a great opportunity to try different products and experience the latest advancements in the cannabis drinks industry.

By providing unlimited networking opportunities, the CDE 2023 promises to deliver an incredible learning platform for attendees where they can connect, share ideas, and learn from business experts about the latest industry trends and products.

The keynote speakers of the CDE 2023 will include:

  • Jeremiah Mosteller, Policy Director at Americans for Prosperity
  • Amor Mena, Founder, and CEO of Amada Tea + Co.
  • David Dinenberg, CEO of Cannabrand
  • Dr. Ethan Russo, Chief Medical Officer of the International Cannabis Association

Registration for the CDE 2023 is now open. Interested participants should register now to avail of the early bird pricing and be a part of the mega Cannabis Drinks Expo.

To learn more, please visit https://cnw.fm/lxLI9.

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

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420 with CNW — State-Level Cannabis Regulation Causes Confusion as Federal Prohibition Persists

With the growing acceptability and legalization of marijuana use across the country, a worrisome reality has come to light: the state-by-state mosaic of safety legislation can leave cannabis consumers adrift in a fog of confusion, exposing them to potential hazards. Marijuana continues to be categorically illegal under federal law. Therefore, it is up to each state to decide on its own set of rules and safety standards.

The lack of uniformity in legislation fuels divisive discussions about the cannabis sector in the United States. Out of the 50 states, only Nebraska, Kansas and Idaho do not permit any form of cannabis use, while the other 47 have adopted their own laws on an array of issues, including  the acceptable THC levels in cannabis products.

The majority of jurisdictions demand that licensed laboratories evaluate the strength of products and look for contaminants such as heavy metals and pesticides in legal cannabis products. However, the lack of uniform testing guidelines has led to inconsistent lab results. A practice called “lab shopping” has emerged among producers as a result of certain labs being found to artificially inflate THC levels to satisfy the demand for potent goods.

Recalls have been required in several jurisdictions as a result of products being cleared for sale despite the presence of dangerous pollutants. At least 18 health problems, including an increase in seizure activity, allergic responses and anxiety as well as a burning feeling brought on by chemical exposure, were associated with a cannabis recall in Michigan in 2021 that involved an estimated 64,000 pounds.

The significant differences could be a result of the variations in cannabis strength and contamination-testing procedures seen across the nation’s laboratories. Others issue licenses to independent labs, while some states run their own labs and enforce a more consistent testing approach.

A study published in the “Environmental Health Perspectives” journal in 2022 suggests that the patchy cannabis laws at the state level may have serious effects on consumer health. The study emphasizes how these regulatory inconsistencies raise the danger of pollutant exposure for immunocompromised people, which may result in illnesses that are potentially fatal. Additionally, the inconsistencies also cause misunderstandings among testing facilities, producers and cannabis cultivators. The study also demonstrates that the same cannabis samples could be accepted in one jurisdiction but not in another.

To maintain product safety and safeguard customers, states have put numerous policies into place. For instance, the maximum amount of THC allowed in edibles in Connecticut is 100 mg per package, with a limit of 5 mg per serving. In Massachusetts, the maximum THC content for edibles is 110 mg per package and 5.5 mg per serving. Moreover, the Colorado legislature passed a law in 2017 prohibiting the creation and distribution of edibles shaped like fruits, people or animals to lessen their attraction to children. Similar steps have been taken by other states to restrict children’s access to cannabis products, including the use of child-resistant packaging.

Marijuana supporters claim that by setting uniform standards and coordinating laws across state lines, federal legalization might provide a solution. They believe that federal legalization, along with possible research funding, might improve consumer safety and streamline the cannabis sector.

No such regulatory confusion exists in the cannabis medicalization space in which companies such as IGC Pharma Inc. (NYSE American: IGC) operate because they follow a clear set of guidelines provided by the U.S. Food and Drug Administration (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)

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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 — New York Backtracks on Plans to Sell Cannabis at Farmers Markets

The New York governor’s office is reconsidering a proposal to permit the sale of locally cultivated cannabis at farmers’ markets during the summer season. The initiative had the potential to greatly benefit an estimated 200 farmers who had acquired licenses to grow cannabis under the supervision of the state’s Office of Cannabis Management (OCM), which oversees New York’s emerging legal marijuana industry.

Since the legalization of recreational cannabis use for adults more than two years ago, the state has provisionally approved more than 150 retail licenses. However, due to delays and financial constraints, only approximately 20 stores have managed to open across the entire state. Consequently, cannabis growers find themselves in a predicament, struggling to find legal avenues to sell their harvest.

During a town hall meeting in May 2023, the director of policy, John Kagia, outlined a proposal that would allow farmers to set up booths at summer farmers markets, creating an opportunity for adults aged 21 years old and above to purchase their products. Kagia suggested that farmers could participate in these markets through licensed retailers authorized by the state.

“We are exploring a wide range of venues,” Kagia expressed, emphasizing the possibility of establishing a dedicated market exclusively for cannabis growers. The market could potentially be integrated into existing events such as concerts or festivals, providing the growers with an opportunity to showcase their produce. Kagia assured the growers that he had the necessary authorization to discuss these plans at a high level.

“We anticipate that the farmers markets will serve as a gateway to unlock the potential of this product and allow New Yorkers to experience the exceptional quality of your cultivated goods,” Kagia asserted, receiving positive feedback from many of the growers.

At the time of the meeting, officials anticipated that sales would commence within a few weeks. However, the passing of those weeks, along with the conclusion of the July 4th holiday weekend, has not seen any significant progress made on the proposed plans.

Last week, an OCM spokesperson adopted a more neutral stance toward the proposal. Aaron Ghitelman conveyed the office’s openness to considering opportunities to strengthen the state’s cannabis industry. However, he also emphasized that no final decisions had been made regarding the inclusion of farmers markets.

The implementation of the farmers market model faces potential obstacles, including opposition from certain local governments toward retail marijuana dispensaries. Additionally, the fact that cannabis remains illegal under federal law poses a challenge, as the markets could potentially jeopardize federal funding.

This backpedaling by the authorities in New York could hamper the plans of some growers to acquire additional equipment from the likes of Advanced Container Technologies Inc. (OTC: ACTX) in order to scale their cannabis cultivation operations.

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

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CannabisNewsBreaks – Cannabis Drinks Expo Gear Up for 2023 Events with ‘Growing the Category’ Theme and Focus

Cannabis Drinks Expo (“CDE”) is preparing for its 2023 events, which include shows at San Francisco and Chicago; the San Francisco expo is slated for July 27, 2023, and the Chicago event is scheduled for Aug. 1, 2023. Last year’s events brought together key players in the industry, including MSO’s, dispensaries, cannabis growers, packaging companies, copackers, flavor suppliers, cannabis drinks brands and service providers, and this year’s events are anticipated to accomplish the same thing — and then some. Expected to be two of the largest global gatherings of cannabis drinks professionals around the world, this year’s events will continue with last year’s theme of “Growing the Category” and focus on four main pillars: creating end consumer pull, educating consumers on cannabis beverages, state bottlenecks and the international potential for the space. According to the announcement, CDE will focus on increasing attendance, including MSO’s, retail buyers and copackers from other states; in addition, each show will have more than 100 exhibitors. Event organizers are also working closely with press and media to ensure journalists, influencers and media attend the events. In addition, this year’s agenda may include company pitch sessions, where brands are invited to do a 15-minute presentation about their businesses and what they are looking for while interested parties can request more information, thereby generating leads for participating companies.

To view the full press release, visit https://cnw.fm/85UP1

About Cannabis Drinks Expo

Cannabis Drinks Expo provides the worldwide drinks industry, and North America in particular, an opportunity to come together and look at ways to address legalized cannabis. Hosted by the Beverage Trade Network, this expo shines a spotlight on the skyrocketing legal cannabis market and provides insight into a future brimming with opportunity. A must-attend event for those eyeing the future of the burgeoning U.S. cannabis industry, Cannabis Drinks Expo also covers key issues surrounding the likelihood and timescale for legalization to other countries, as well as the impact of legalized cannabis on the traditional alcoholic and non-alcoholic drinks markets. For more information about the event, please visit www.CannabisDrinksExpo.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)

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

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Patented DehydraTECH(TM) Technology Increases Bioavailability in Lipophilic Drugs for Potential Hypertension, Epilepsy Treatments

  • The bioavailability enhancement technologies and services market is expected to reach $10 billion by 2035, growing at a CAGR of approximately 11%
  • Drug developers are shifting focus to the development of lipophilic drug compounds, which increases bioavailability
  • DehydraTECH-enabled drugs improve the speed of onset, increase bioavailability, increases brain absorption, and reduces drug administration costs
  • Lexaria’s DehydraTECH has 34 patents granted worldwide and many more pending across several categories of fat-soluble active molecules and drugs
  • The company operates through four separate subsidiaries to explore the potential and options for the use of DehydraTECH in respective industries

Bioavailability is the ability of a drug or other substance to be absorbed and used by the body – and in recent years, it has become an integral part of drug pharmacokinetics. The bioavailability enhancement technologies and services market is expected to reach $10 billion by 2035, growing at a CAGR of approximately 11%. Drug developers have shifted focus to developing lipophilic drug compounds, undertaking new efforts to identify enhancement techniques that mitigate the challenge of low bioavailability and stability (https://cnw.fm/6uTZv).

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has developed its patented DehydraTECH(TM) technology to improve how active pharmaceutical ingredients (“APIs”) enter the bloodstream, promoting healthier oral digestion, increasing the effectiveness of lipophilic molecules, and increasing the bioavailability of targeted substances. DehydraTECH promotes fast-acting, less expensive, and more effective oral drug delivery, and it has been thoroughly evaluated through in vivo, in vitro, and human clinical testing.

DehydraTECH is suitable for use with a wide range of product formats, including pharmaceuticals, nutraceuticals, and over-the-counter capsules, pills, tablets, oral suspensions and more. The benefits of DehydraTECH include the following:

  • Improves the speed of onset, with effects felt in minutes
  • Increases bioavailability by more effectively delivering the drug into the bloodstream
  • Increases brain absorption, with testing suggesting up to 10x improvement
  • Reduces drug administration costs with a higher ratio of drug delivery

To date, Lexaria has been granted 34 patents, with several more pending worldwide, including DehydraTECH-CBD for the potential treatment of hypertension, epilepsy, and more. Lexaria is also exploring food and beverage compositions infused with lipophilic active agents – improving bioavailability through food and drink. Through animal studies, DehydraTECH has shown the ability to elevate the quantity of the drug delivered across the blood-brain barrier by as much as 1,700 percent, which has initiated additional new patent applications and has opened possibilities for improved drug delivery.

Lexaria operates four subsidiary companies to focus on different commercial opportunities in their respective industries: Lexaria Pharma Corp. investigating new products for hypertension, anti-viral treatments, and other drug classes; Lexaria Nicotine Corp. (16.67% owned by Altria Ventures Inc.), investigating oral non-combusted tobacco-derived nicotine formats; Lexaria Hemp Corp. pursuing business-to-business opportunities with cannabinoids such as cannabidiol from hemp; and Lexaria Canpharm Corp. operating a state-of-the-art Health Canada licensed laboratory capable of developing novel psychotropic cannabinoid formulations for potential commercialization in sectors where it is federally legal to do so.

Lexaria’s DehydraTECH is a revolutionary technology that makes it possible to deliver bioactive substances topically or by oral ingestion without the need for unhealthy practices of inhalational dosing where applicable and without the need for co-administration with unhealthy sugars or sweeteners commonly used to mask bitter tastes. It provides power acceleration of intestinal absorption and requires fewer quantities of drugs to achieve desired results.

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)

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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303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Lawmakers Author Amendments to Change Cannabis Rules for Security Personnel, Military Recruits

Past and current cannabis use still comes with a myriad of disadvantages for people in certain fields. Even though dozens of states now allow medical and recreational cannabis use, federal law still prohibits cannabis use. As a result, applicants and employees who work in certain fields or agencies often face stringent zero-tolerance drug policies that do not allow cannabis use regardless of local state law.

Professional athletes in most major sports, truck drivers and army recruits are among the classes of individuals that are subject to workplace drug tests and can face termination for failed drug tests and, in some cases, past cannabis use.

A pair of lawmakers is looking to loosen the policies on prior cannabis use for recruits in the military and people seeking security clearance. This would alleviate what the bipartisan pair of legislators call a “retirement and retainment crisis” by increasing the applicant pool for Defense Department personnel.

Every single branch of the U.S. military has struggled to meet its recruiting goals since 2022 amid record-low numbers of eligible Americans. Furthermore, experts say that of those who qualify to serve, few are willing to join the military, leading to one of the most prolific recruitment crises in U.S. history. An internal survey by the Defense Department found that only 9% of young Americans who qualify to enlist are interested in joining the military.

Representative Matt Gaetz is proposing an amendment to the National Defense Authorization Act to eliminate cannabis testing for military recruits and to allow applicants who have used cannabis in the past to join the military. Gaetz argued that past cannabis use should never exclude citizens from enlisting in the military and said that rather than penalizing them, such recruits should be embraced for stepping up to serve America.

Ret. Lt. Gen. Thomas Spoehr of the think tank Heritage Foundation said that the military has not seen such a massive recruitment shortfall since 1973 when America exited Vietnam and officially ended the draft. Army’s chief of staff, Gen. James McConville, said in 2022 that over three-quarters of U.S. adults aged 17 to 24 are disqualified from enlisting in the military largely due to drug use, obesity or criminal records, and the pool of eligible applicants shrinks each year.

Additionally, a 2022 survey by Monmouth University found that 54% of American adults have used cannabis in their lifetime. Eliminating candidates for past cannabis use effectively cuts the already-small applicant pool by one-half. In 2022 alone, close to 5,000 applicants did not make the cut due failed drug tests, an increase of 33% from 2020.

Eliminating drug-testing requirements and penalties for prior cannabis use would widen the applicant pool and allow the military to meet some of its recruitment demands in the short term.

The drug-development programs of companies such as IGC Pharma Inc. (NYSE American: IGC) could also address the needs of those who currently use marijuana for medical reasons since these formulations would be subjected to the FDA approval process, and success would mean that no one would be sanctioned for using those medicines once they can be prescribed by doctors.

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 — Key Senators Plan on Cannabis Banking Vote This Month

Cannabis banking has been one of the most contentious issues since states began legalizing medical and recreational cannabis. Although more than 30 states now allow the purchase and use of either recreational or medical cannabis, federal law still classifies cannabis as a Schedule I controlled substance.

As a result, players in the cannabis market typically cannot access financial services that are accessible to every other industry This includes access to banking institutions and federal aid, forcing businesses to operate on a cash-only basis and making it difficult for them to access capital.

Lawmakers introduced a bill called the Secure and Fair Enforcement (SAFE) Banking Act in 2019 to finally grant cannabis businesses access to financial services. However, despite being passed by the House several times, the SAFE Banking Act has consistently failed to advance past the Republican-controlled Senate.

A group of senators has now revealed that it hasn’t given up on the cannabis banking bill and is poised to vote on the banking bill in a key committee. In a recent series of interviews, several senators discussed their opinions on the controversial cannabis banking act.

Senate Banking Committee chair Sherrod Brown said that he would like to hold a committee vote on the bill after the July 6, 2023, recess. However, Brown said that the vote depends on whether unrelated legislation that had passed through his panel advances past the Senate floor. The committee held an initial hearing on the banking legislation in May and is currently debating section 10 of the proposal under the guise that it could significantly limit regulators’ ability to deal with people taking advantage of banking services.

The issue was first flagged by Senator Jack Reed, who argued that the language used in the section would make it harder for regulators to point out customers who present a risk to banking institutions, allowing for the proliferation of criminal activity in various sectors.

According to Senator Steve Daines, the cannabis banking bill still has the best chances of advancing through Congress even with Republicans holding a majority position in the House. Still, Daines noted in a separate interview that committee members still hadn’t reached a consensus on a final deal and are still holding discussions on the matter. He said that Democratic senators should limit the scope of the legislation to increase its chances of passing.

According to a spokesperson from Daines’ office, the Republican senator is open to revising the bill to add provisions for the expungement of prior cannabis-related convictions.

When marijuana banking becomes a reality, more industry companies could access the funding they need to expand their operations, and this could in turn create a bigger market for downstream businesses 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 — Lift Events and Experiences Announces Inaugural US Cannabis Food & Beverage Event

Lift Events and Experiences will be hosting its first U.S. event: Lift San Francisco. The two-day event will be held on Aug. 3–4, 2023, at the Moscone Convention Center in San Francisco. According to the announcement, the event will feature the inaugural Taste at Lift: Cannabis Food & Beverage Experience, which is designed to allow attendees to participate in exclusive demos, in-depth presentations and expert panels led by the top innovators in the cannabis food, beverage and hospitality space. The first day of the Lift San Francisco event will feature the Lift Cannabis Business Conference & Arcview Investment Summit, with Taste at Lift on the second day. The Lift Expo will be open both days so that event participants have ample time to check out new and emerging brands, and engage in Lift’s invaluable networking opportunities.

The expo also offers attendees an opportunity to see, touch, smell and sample live flower. Other event highlights include an extensive budtender program; evening receptions designed to provide ideal opportunities for insightful conversations and business-building connections; and a signature Lift After Party to end the two-day gathering. “I believe food and beverage is the real opportunity in cannabis today, drawing in the canna-curious and educating them through familiar ways of consumption,” said Lift’s director of cannabis food & beverage growth Chef Jordan Wagman in the press release. “Taste at Lift is the first platform for the cannabis food and beverage supply chain to connect, ideate, educate and celebrate obstacles overcome and successes achieved. Our team has been hard at work developing a program that showcases new and innovative ways to highlight cannabis food and beverage brands. From delicious edibles to refreshing cannabis-infused cocktails, Taste at Lift is sure to surprise, educate and delight attendees.”

To view the full press release, visit https://cnw.fm/9NgxR

About Lift Events & Experiences

Lift Events & Experiences serve the cannabis community as both a meeting place and a destination for discovery. With dates across North America, each Lift event showcases leading-edge content and premiere exhibitors in a high-energy setting for thousands of cannabis growers, processors, manufacturers, brands, budtenders, retailers, educators, advocates, regulators, consumers, investors and more, all while paying tribute to the roots of this rapidly evolving industry. For more information, visit www.LiftEvents.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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