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 — New York Authorities Clamp Down on Illicit Cannabis Shops

Cannabis has been the most used illegal drug in America for decades. Even now that dozens of states have legalized either medical or recreational cannabis, the cannabis black market is still responsible for a majority of the country’s marijuana sales.

In California, which is home to the largest legal cannabis market in the world, licensed players in the market are struggling to get by, thanks to the state’s behemoth illicit cannabis industry. With more states looking to launch recreational cannabis markets in the near future, regulators are keen on reducing the influence of illicit sellers to give licensed retailers a better chance at success.

Combating the illicit cannabis market would also ensure states obtain millions of dollars in cannabis taxes and halt cash flows to the criminal enterprises behind the illegal market. Many states are trying. Last week, Governor Kathy Hochul of New York announced that state regulators would begin clamping down on the 1,500 illicit cannabis shops in the state. The government announced measures such as seizures of illegal marijuana products, raids on illicit cannabis shops, and the launch of an interagency program to deal with the sale of untested cannabis products in illicit retail premises.

Speaking of the state’s recent legal recreational cannabis rollout, Hochul said that regulators would not stand idle while illegal operators sold untested cannabis products, particularly to minors. She said that the impending measures are meant to protect New York’s fledgling recreational marijuana industry and give citizens a shot at entering the industry and succeeding.

According to Hochul, officers from the Department of Taxation and Finance (DTF) and the New York State Office of Cannabis Management (OCM) have already begun inspecting storefront businesses that aren’t licensed to sell marijuana in New York. Businesses that are found in violation of the state’s cannabis policies are receiving Notices of Violation and Orders to Cease Unlicensed Activity; the governor also promised to deliver similar action to other illicit businesses across the state.

Tremaine Wright, the chair of the Cannabis Control Board, said that “successful enforcement actions” against unlicensed trucks and storefronts selling marijuana in New York sends a solid message that the state is actively dealing with illegal sellers.  She said the enforcement efforts are meant to ensure public safety and maintain the integrity of New York’s nascent recreational cannabis industry.

These efforts are designed to foster a “fair and regulated environment” that keeps consumers safe while supporting licensed businesses and protecting them from unfair competition.

As this clampdown weeds out illicit actors and leaves those who are licensed to operate in the cannabis industry, there is likely to be a bigger market for the products made by entities such as Advanced Container Technologies Inc. (OTC: ACTX), since growers will be encouraged by the sales they are making to expand their 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.

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420 with CNW — Report Shows Truckers Want Marijuana Testing Reformed

Marijuana testing is currently one of the most controversial matters in the employment market. While a majority of states have passed cannabis policies that allow residents to purchase and use either medical or recreational cannabis, the plant is still illegal at the federal level. As such, certain employers choose to or are required to run regular drug tests to ensure their employees are always drug-free.

With millions of Americans now granted access to legal cannabis, the differences between federal and state laws were bound to have repercussions that would affect tons of employees.

A recent report from the American Transportation Research Institute (ATRI) has revealed that truck drivers overwhelmingly support cannabis testing reforms. The trucking industry has been dealing with driver shortages due to strict drug-testing policies that have reduced the pool of drivers who are eligible for employment.

In March 2022, the U.S. Department of Transportation released a summary report noting that 10,276 commercial truck drivers had tested positive for THC compared to 31,085 positive drivers during the previous year, and 29,511 in 2020. Even though the American Trucking Association stated in 2021 that lower wages and an influx in retirements were responsible for the driver shortage, the recent increase in positive cannabis tests is also contributing.

In the recent ATRI report, titled “Impacts of Marijuana Legalization on the Trucking Industry,” the transportation research institute reviewed cannabis research, data on cannabis use and highway safety, and trends in legalization. The report also summarized the hiring and workforce implications of cannabis legalization on the trucking industry, taking a closer look at the opinions of carriers and truck drivers on cannabis reform.

According to the report, data from the Drug and Alcohol Clearinghouse shows that more than 100,00 drivers tested positive for marijuana metabolites and were excused from duty from 2020 to 2022. The report also noted that 60.1% of carriers reported an increase in the number of walk-outs and positive pre-employment cannabis tests over the past half-decade. In addition, it notes that with the shortage of truck drivers in recent years averaging 65,000 to 80,000, the drivers removed due to cannabis use are definitely contributing to the shortages.

Federal cannabis prohibition presents a “potential disincentive” for truck drivers, and loosening marijuana testing rules could expand the employee pool and make trucking more attractive to drivers. The report showed that 62% of carriers said that the industry needed to change its federal drug testing policies, with 65.4% saying the cannabis use test should be replaced with a cannabis impairment test, and 40.9% of carriers stated that they were still concerned about impaired driving.

It is possible that a notable number of truckers who test positive for marijuana use the substance for medical reasons, and it is unfortunate that such people lose their jobs as a result. The work being done by entities such as IGC Pharma Inc. (NYSE American: IGC) to come up with pharmaceutical-grade therapeutics from marijuana compounds could help such individuals manage their health conditions without putting their jobs at risk.

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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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 — Elizabeth Warren Pushes for Laws That Limit Conglomerates from Dominating the Cannabis Industry

Senators Ed Markey and Elizabeth Warren are advocating for cannabis reform that gives priority to areas that have suffered the most from the drug war and prevent monopolization by large corporations such as Amazon and major tobacco companies. During a dedicated event focused on fostering an inclusive cannabis industry, the senators expressed gratitude to activists for their unwavering support of minority-owned marijuana businesses. They also committed to championing policies that align with the intention of promoting equity.

In a recorded video aired during the ceremony, Warren stressed that legalization by itself is insufficient. She emphasized the significance of ensuring that the communities hardest afflicted by the drug war receive priority access to the advantages of legalization. She also argued in favor of legalization that does not give dominant organizations such as Big Alcohol and Tobacco or massive retail chains control over the market.

The senator expressed skepticism about Amazon’s lobbying efforts for marijuana legalization, viewing those efforts as potentially self-serving attempts to monopolize another market. Warren voiced concern that such actions could impede Latino and Black entrepreneurs from thriving in the emerging cannabis industry.

The senators’ statements were consistent with the main point of the “crash course” on cannabis policy provided by the Parabola Center for Policy and Law. The purpose of the event was to inform attendees of the potential negative effects of concentrated ownership in the cannabis sector.

Markey also spoke to the audience through a prerecorded video, admitting that the drug war had failed. He acknowledged the courage of the communities that endured disproportionate criminalization during the Prohibition era. Markey highlighted President Joseph Biden’s widespread marijuana pardon and Massachusetts’ initiatives to prioritize equity in its legal marijuana market as important advances in cannabis legislation across the country.

The Federal Marijuana Policy Crash Course also included marijuana regulators from Washington, D.C., New York City and Massachusetts, alongside representatives from prominent cannabis advocacy groups such as Marijuana Justice, Drug Policy Alliance, Doctors for Cannabis Regulation, Students for Sensible Drug Policy and Cannabis Regulators of Color Coalition.

Prior to the course, Parabola issued an “anti-monopoly tool kit” that outlined federal and state policy priorities aimed at preventing corporate consolidation, which could pose a threat to small marijuana businesses in the sector. In 2021, Parabola put forth changes to a House-passed bill legalizing marijuana on a federal level. The intended modifications aimed to create a fair market that enabled the communities most adversely affected by prohibition to profit from the new sector.

The institute had previously expressed worries about how the alcohol and cigarette businesses would affect federal cannabis reform. They asked politicians to rethink enacting marijuana laws that were modeled after alcohol laws.

It is encouraging that as discussions about what form federal marijuana legalization should take, emphasis is being placed on including as many people as possible in the industry. Such an approach could help to spread the benefits of legalization to a wider section of the population, and that could in turn make it easier for different companies such as Advanced Container Technologies Inc. (OTC: ACTX) to deepen their reach in different markets around the country, given that more growers will be participating in the industry.

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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420 with CNW — Activists File Lawsuits Against Montana Governor over Cannabis Bill Veto

Last week, activists filed lawsuits against Montana Governor Greg Gianforte’s decision to veto legislation that shed light on how the state allocated taxes realized from the sale of recreational cannabis. One of the lawsuits was filed by the Montana Association of Counties while the other one was filed by the Montana Wildlife Federation and Wild Montana.

The latter lawsuit requests that a Helena district court judge declare the governor’s veto of the measure void, unless and until both the secretary of state and Gov. Gianforte ask legislators their stand on whether to override the governor’s decision on the last day of this legislative session. Lawmakers can override this veto with a majority vote of two-thirds.

The lawsuit calls attention to the fact that while the governor does possess constitutional authority to veto the measure, he cannot exercise this authority with regard to this particular bill or any other for that matter if it interferes with the constitutional authority of the legislature to override said veto.

On May 1, 2023, the measure in question, SB 442, was approved in the senate by a 48 to 1 vote. The measure, which was sponsored by Senator Mike Lang, proposed that taxes imposed on the sale of recreational cannabis be divided between the general fund, conservation and recreation programs, addiction treatment and veterans services, and county road construction and maintenance.

On May 2, 2023, Gianforte vetoed the measure, arguing that it made the state responsible for things under the jurisdiction of local authorities, thus creating a slippery slope. The governor also disagreed with the fact that the legislation directed cannabis revenues to different accounts. The veto was read right before Senate Majority Leader Pat Flowers adjourned the Senate, which made it impossible for the legislature to override it.

This timing left the measure in a state of uncertainty, with the plaintiffs arguing that Gianforte’s veto wasn’t formally communicated to the senate, which made it invalid. For a veto poll to be issued now that the legislature is fully out of session, Secretary of State Christi Jacobsen has to receive the veto memo and the measure from the office of the governor. At the moment, this hasn’t been done, despite insistence from Wild Montana attorneys.

In both lawsuits, the plaintiffs argue that failing to fix this situation by issuing a poll to override the governor’s veto would create a loophole that could be used in the future to steer clear of veto overrides.

As these moves to reform cannabis laws in Montana are taking place, a different situation is unfolding in the realm of the medical use of marijuana. Several enterprises, including IGC Pharma Inc. (NYSE American: IGC), are making strides forward in their bids to commercialize THC-derived formulations. Once these are approved by the FDA, offerings from these companies will be available to patients through the medical system in and outside the United States.

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 — Rhode Island Completes 23K Marijuana Possession Expungements

Rhode Island’s judicial system has successfully expunged more than 23,000 records related to marijuana possession, marking the completion of the initial phase of marijuana relief as mandated by the state’s legalization law and the Supreme Court’s executive order. According to a recent press release issued by the judiciary, the Superior Court expunged 3,015 cases, while the Rhode Island Traffic Tribunal and the District Court expunged 9,952 and 10,650 cases, respectively.

This automated relief effort was a collaborative endeavor between law enforcement and the courts following the state’s implementation of recreational cannabis legalization last year. In January, Paul Suttell, the state’s chief justice, released an executive order outlining the process for mass expungements.

Acknowledging the organizational accomplishment, Julie Hamil, the state’s court administrator, expressed her thoughts on the matter, stating, “The expungement of cannabis charges has been a remarkable feat. Every section of the judiciary has worked together to ensure timely and comprehensive execution of this process.”

The second phase of the expungement procedure will focus on clearing marijuana possession records in situations involving multiple criminal charges. Currently, this phase is in the planning stage and is expected to be complete by July next year.

Mavis Nimoh, executive director of the Center for Health and Justice Transformation, expressed appreciation for the state judiciary’s prompt implementation of the automatic expungement of marijuana offenses. She emphasized the pressing need for reasonable criminal record relief programs, particularly as the state enters a booming economy that has for too long unfairly penalized its inhabitants.

Under the executive order issued by the court, people may also apply for accelerated expungements. The court will waive the associated fees for these requests, and they will be processed within five working days.

In recent years, several territories and states have taken steps to offer relief to individuals with previous marijuana convictions. For instance, the Louisiana senate recently passed a bill streamlining expungements for those with first-time cannabis possession offenses, while Ohio’s governor signed a major reform bill allowing cities to expedite mass expungements for specific drug-related offenses, such as possession of up to 200g of cannabis.

A NORML report released last year revealed that state governments have granted almost 2 million expungements and pardons to individuals with minor marijuana convictions in recent years. Meanwhile, a senate committee recently confirmed the nominees made by Governor Dan McKee to a state cannabis commission, which will be in charge of regulating the legal cannabis industry. A house committee has also approved a bill that would permit the production and possession of psilocybin mushrooms while also setting the stage for controlled access for medical purposes until federal reform is implemented.

As the recreational market becomes established and grows in the state, there is likely to be a bigger market for all sorts of products, including those made by Advanced Container Technologies Inc. (OTC: ACTX), as businesses move to address the growing demand for cannabis.

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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CannabisNewsBreaks – Lift Events Partners with Arcview Group for Upcoming US Cannabis, Investment Event

Lift Events announced a new partnership with the Arcview Group as it anticipates its upcoming Lift San Francisco event, slated for Aug. 3–4, 2023. The company announced that the Lift Cannabis Business Conference, slated for Aug. 3, will be a combined event with a new Investment Summit presented in partnership with the Arcview Group, a recognized pioneer in cannabis and hemp industry investment content. According to the announcement, the “game-changing” partnership will prioritize social justice and responsibility, with the Arcview Group providing a broad spectrum of programs and services across a vertically integrated organization. In addition, the Lift San Francisco event will include the two-day Lift Expo. The announcement noted that the Arcview Investment Summit will take place alongside the Lift Cannabis Business Conference. The new partnership combines two synergistic education opportunities and will include enhanced investment-centered content for audiences across the cannabis and hemp industries. “Lift is honored to welcome our new partners, the Arcview Group,” said Lift Events portfolio lead Lindsay Roberts in the press release. “Through extensive research and the expert counsel of our North American Advisory Board, we know that investment content is a ‘must’ for serving Lift’s California and U.S.-wide audience. There is no better source for this crucial, timely information than the Arcview Group.”

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

About Lift Events

Lift Events launched in 2015 and is the original large-scale cannabis trade show in Canada. It is now serving the cannabis industry and community across North America as both a meeting place and a destination for discovery. Each Lift event showcases leading-edge content and premiere exhibitors in a high-energy setting for thousands of retailers, producers, growers, investors and decision-makers. For more information about the company, visit www.LiftExpo.ca.

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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CannabisNewsWire (CNW)
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CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Reports on Promising Results from Diabetes Animal Study

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, is releasing additional findings from its DIAB-A22-1 study, a diabetes animal study designed to evaluate the company’s proprietary DehydraTECH-CBD. DehydraTECH is a patented drug-delivery formulation and processing platform technology developed by Lexaria. The company noted that in addition to the three positive outcomes reported earlier — weight loss in obese diabetic-conditioned animals and improved triglyceride and cholesterol levels — the study has indicated a reduction in blood glucose levels and improvements in kidney function. These results were gathered after the company undertook a further round of analysis to explore additional study outcomes; the additional analysis included using an alternate blood glucose assay detection system with higher detection sensitivity. The company also reported updates on two of its applied R&D programs:DEM-A22-1 and EPIL-A21-1. Lexaria’s DEM-A22-1 is a study designed to investigate whether DehydraTECH-CBD enables any procognitive performance enhancements with potential use in dementia treatment.

The company noted that the findings from this study were “generally unremarkable and several unexpected study complications may have muted efficacy distinction ability.” The EPIL-A21-1 was designed to evaluate the effectiveness of LEXX’s DehydraTECH-CBD compared to one of the world’s leading anti-seizure medications, Epidiolex(R), in reducing seizure activity. Initial findings from the study seemed to demonstrate that DehydraTECH-CBD had effectiveness at lower doses and with greater rapidity than Epidiolex. In the past few months, Lexaria has also completed a final study under its EPIL-A21-1 program that looked at establishing dosage amounts. “This ED50 study was designed with an objective to hopefully corroborate Lexaria’s prior MES experimental findings,” the company states in the press release. “Lexaria is pleased to confirm that the outcome demonstrated that DehydraTECH-CBD was most effective at a dose of 75 mg/Kg, also as previously reported from the initial round of work in this animal model, which compared favorably to Epidiolex that generally required a higher dose of 100 mg/Kg to achieve comparable findings.”

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

About Lexaria Bioscience Corp.

Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 30 patents granted and many patents pending worldwide. For more information about the company, please visit 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 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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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Possible Legalization Reversal Has Thai Cannabis Advocates Worried

Thai Ganja TV has been a platform where marijuana enthusiasts have closely followed the remarkable transformation of the drug from being a banned substance to a legalized medicinal plant and eventually a recreational indulgence. However, a year after the decriminalization of cannabis in Thailand, the platform’s approximately 90,000 followers are now witnessing with bemusement the threats from rival politicians who seek to once again outlaw or strictly regulate open consumption and dispensaries.

At the forefront of this debate is the soon-to-be prime minister, Pita Limjaroenrat, whose party MFP surprisingly emerged as the winner in the May 14, 2023, general elections. Although MFP is generally seen as the most progressive political party in Thailand, marijuana advocates argue that it is spearheading the movement to curtail recreational use, casting a shadow over the nation’s multibillion-dollar marijuana industry.

Pita now asserts that the marijuana boom should be temporarily halted to control recreational use until the next government passes the proposed marijuana act, which would establish clear guidelines on the sale and consumption of the drug. This aligns with the perspective of Pita’s alliance, comprised of eight parties, several of which are from the conservative, largely Muslim provinces of southern Thailand.

The alliance’s position on cannabis has infuriated Health Minister Anutin Charnvirakul, who championed the substance’s liberalization and refuses to support any government that aims to retract the current laws, even on a temporary basis. Anutin’s party, Bhumjaithai, holds 71 seats, which gives it considerable influence in determining the next government’s composition.

While politicians engage in disputes, marijuana advocates are growing increasingly frustrated with the uncertainties surrounding their industry. The legal ambiguity has eroded investor confidence, despite the industry’s rapid growth after decriminalization. Thailand has experienced a visible transformation with regard to cannabis, as it swiftly transitioned from a country with severe penalties for cannabis possession to one of the most permissive environments for its use and sale.

Exploiting the legislative gaps resulting from the failure to enact the marijuana act, both Thai residents and tourists openly consume cannabis on the streets. The market has also been flooded with illegal imports, primarily from North America, providing ample ammunition for opponents of the liberal marijuana culture.

Kobboon Chatrakrisaeree, a small-scale farmer in a Bangkok suburb, says the initial excitement following decriminalization has subsided. He claimed that due to the lack of appropriate restrictions, cannabis is now polluted by careless company owners who sell to minors and by people who openly smoke on the streets as if they were in Canada.

The regulatory uncertainty seen in the marijuana industry around the world has created an opportunity for enterprises such as IGC Pharma Inc. (NYSE American: IGC) to develop medicines from marijuana. These entities plan on getting FDA approval for those therapeutics so that patients can easily access the novel treatments sans fearing that they could run afoul of prohibitive laws or complex state-level marijuana regulations.

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 — Supreme Court Gives Florida AG Extra Fortnight to File Cannabis Challenge

The Florida attorney general has received two extra weeks to come up with a brief challenging the addition of a proposed cannabis legalization measure to the 2024 ballot. State Attorney General Ashley Moody’s office originally had until June 5, 2022, to provide the briefs, but it filed a motion to push the deadline. The office stated that it had limited staff and was currently dealing with multiple deadlines that made it unable to meet last Monday’s deadline for the cannabis ballot initiative challenge.

The court motion met no challenges from the cannabis ballot campaign’s lawyers, and the state Supreme Court granted the attorney general’s office a fortnight to complete the briefs. However, the court cautioned the attorney general against seeking further extensions and noted that without any extenuating circumstances, the court may deny further requests for delays.

A week ago, Florida state officials announced that the Smart & Safe Florida campaign that is behind the ballot initiative had gathered enough valid signatures to qualify the measure for next year’s ballot. In fact, the Florida Division of Elections reported that the campaign had collected 967,528 verified signatures, more than 70,000 more votes than the signature threshold for ballot initiatives in Florida.

The measure cleared one of its first challenges to land on the 2024 ballot, receiving enough signatures to qualify for a court review of its language. This review is meant to ensure that none of the language in the cannabis legalization ballot misleads voters and is in violation of the state’s constitution.

Several prior attempts at placing recreational cannabis measures on the ballot have failed at this stage.

Attorney general Moody also took action against the cannabis legalization measure at this stage, filing a court brief that argued that the measure violated Florida’s constitutional rule of having a single subject in ballot measures and stating that she would flesh out her position in a future briefing. Moody also attempted to block a legalization measure based on the same argument in 2022, but a court threw out her file.

If the legalization measure is approved by voters, it would amend Florida’s constitution and allow existing medical marijuana companies to begin selling recreational cannabis to adults aged 21 years and older. The measure would also “allow but not require” that legislators take extra steps to approve and legalize additional recreational cannabis retailers in the state.

Adults aged 21 and older would be allowed to buy and own up to one ounce of cannabis with only a maximum of five grams being cannabis concentrate products. The ballot measure also includes provisions for the expungement of past cannabis offenses and would not allow home cultivation.

As the possibility of marijuana legalization becomes a reality in different states around the country, market opportunities will keep opening up for businesses such as Advanced Container Technologies Inc. (OTC: ACTX) as more growers come aboard the state-legal cannabis industry.

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.’s (NASDAQ: LEXX) May Announcements Show Resolve to Continue Supporting R&D ‘Lifeblood’

  • In May, Lexaria made a number of positive announcements related to its R&D initiatives
  • In addition to holding its 2023 Annual Meeting, the company completed dosing for its human clinical nicotine study, NIC-H22-1
  • Lexaria also reported 900% improvements in delivery of DehydraTECH(TM) processed estrogen into blood plasma in an animal study
  • In a human hypertension study, the company announced that its DehydraTECH-CBD formulation resulted in significant reductions in the blood plasma levels of pro-inflammatory biomarkers (IL 8, 10, and 18)
  • These biomarkers are linked to cardiovascular disease (“CVD”) and many other conditions, such as asthma, lung diseases, chronic kidney disease, fatty liver disease, Type 1 and 2 diabetes, obesity, and rheumatoid arthritis

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, held its 2023 Annual Meeting on the 9th of May, with shareholders voting on several agenda items, including the election of directors, appointment of auditors, approval of the stock option pricing, approval of the amendment to the maxim number of shares issuable pursuant to the Incentive Equity Plan, and approval of the addition of an evergreen formula to the Incentive Equity Plan. All items put to the vote were approved by the majority, setting the stage for what would become a month of even more positives, particularly around the company’s research and development (“R&D”) initiatives.

“If you’ve been following Lexaria for any period of time, you know that applied R&D is our lifeblood. It helps us establish areas of investigation for commercial pursuits, reduces risks of the unknown for both commercial and regulatory goals, and more,” wrote Lexaria CEO Chris Bunka in the January 2023 annual letter (https://cnw.fm/o1Ypu).

A look at the company’s announcements throughout May shows its unwavering resolve to support its lifeblood and, in the process, gain additional knowledge and understanding of the limitations and capabilities of its patented DehydraTECH(TM) technology. The company started the month off with the announcement that it had completed dosing in its human clinical nicotine study, NIC-H22-1.

With data showing that cigarette smoking claims the lives of more than 7 million people per year globally, Lexaria conducted the study as part of its efforts to validate its reduced-risk technology, which is poised to potentially provide tobacco smokers with a safer and faster-acting source of purified nicotine that delivers nicotine into blood plasma faster, potentially satisfying cravings more quickly. The study evaluated the capabilities of the company’s DehydraTECH-processed oral nicotine formulation by comparing it with the performance of other commercially available oral nicotine pouches sold under the On! and Zyn brands. Lexaria will provide further updates and any relevant material findings as they become available (https://cnw.fm/5YIKF).

Lexaria also reported the completion of its animal study HOR-A22-1, demonstrating its DehydraTECH(TM) platform technology significantly enhanced the oral delivery of estradiol, a type of estrogen hormone that is used in therapeutic products in women’s health sector (https://cnw.fm/wwDVX). Performed in 20 female Sprague-Dawley rats, the study compared a DehydraTECH-estradiol formulation to a generic estradiol composition.

The study aimed to evaluate the ability of DehydraTECH to enhance the delivery properties of the orally administered hormone using parameters such as Cmax, the maximum concentration in the bloodstream, and area under the curve (“AUC”), a measure that gives insight into the total delivery of estradiol over time and the extent of exposure to estrone. (Estrone is a second type of estrogen that is reversibly manufactured from estradiol in tissues found in the mammary gland, uterus, and liver.)

The animal study HOR-A22-1 found that the DehydraTECH-estradiol formulation resulted in a Cmax about 900% higher than the control formulation’s. Additionally, the AUC readings for estradiol and estrone when the DehydraTECH-processed composition was used were 1,500% and 12,500% higher, respectively, than when the control was used.

In other R&D, Lexaria announced additional findings from its human clinical study HYPER-H21-4, completed last year. The hypertension study sought to evaluate DehydraTECH-processed cannabidiol (“CBD”) as a potential antihypertensive medication and already achieved primary efficacy and safety objectives. According to the company, the study also demonstrated significant reductions in several pro-inflammatory biomarkers – interleukin (“IL”) 8, 10, and 18 – known to be linked to cardiovascular disease (“CVD”) and many other conditions such as asthma, lung diseases, chronic kidney disease, fatty liver disease, type 1 and 2 diabetes, obesity, and rheumatoid arthritis.

More specifically, after five weeks of treatment, the DehydraTECH-CBD formulation resulted in a 19%, 27%, and 43% reduction in the blood plasma levels of IL 8, 10, and 18, respectively. “There is some pre-clinical evidence for the anti-inflammatory actions of CBD, but this is likely the most convincing evidence in humans that I have ever seen,” Dr. Philip Ainslie, Cardiovascular Advisor to Lexaria and Lead Investigator of the study, said of the results.

In non-R&D-related news, the company reported the closing of its public offering, which generated approximately $2.0 million in gross proceeds (https://cnw.fm/1EL5N).

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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