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 — Proposed California Law Could Legalize Marijuana Cafes

The wave of cannabis reform that has swept across America over the past two decades doesn’t seem to be stopping any time soon. By April 2023, nearly 40 states had medical marijuana markets while close to two dozen states allowed recreational cannabis sales.

California legalized recreational cannabis in November 2016 and was soon generating billions of dollars in revenue and state tax from adult-use cannabis sales. With California now home to what is undoubtedly the largest cannabis market in the world, state lawmakers are currently working on a bill that would legalize marijuana cafes and allow the sale of both nonalcoholic drinks and food in legal cannabis retail establishments.

California’s state assembly recently passed a bill to legalize cannabis cafes in the state in a 59 to 9 vote before pushing the legislation to the Senate for discussion.

Such businesses started popping up in California a couple of years ago in regions such as Palm Springs, West Hollywood and San Francisco. Even smaller cities such as Ojai considered marijuana cafes as a means of boosting tourism and tax revenue in the wake of the coronavirus pandemic and subsequent lockdowns.

However, California law banned indoor smoking at the time and had regulations designed to keep workplaces smoke free for the health of employees.

Brad Rowe, a University of California, Los Angeles adjunct professor of cannabis policy, said in 2019 that the marijuana cafe segment was in its infancy and still mired with plenty of legal complications. The recent law could clear up most of these complications and allow the segment to grow without any regulatory obstacles.

Speaking on the floor, bill sponsor Assemblymember Matt Haney noted that the cannabis industry is currently struggling under the weight of high taxes, a surging black market and an oversaturated space.

California’s cannabis black market has proven to be an especially tough problem to solve as a large portion of the population still prefers to buy cheaper cannabis from black market dealers. Coupled with high taxes from the state and an oversupply of sellers in the market, many small cannabis businesses are struggling to stay afloat.

The new bill would provide businesses in the cannabis space with a new avenue for generating revenue via the sale of noncannabis, prepackaged soft drinks and foods at licensed consumption lounges or cafes. However, the bill prohibits the sale and consumption of alcohol and tobacco at cannabis consumption lounges. It would, however,  allow live performances in cannabis lounges and the sale of performance tickets to the public.

If this proposal becomes law, it could inject new life into struggling cannabis companies, and they, in turn, could ramp up their production to meet the increased demand for marijuana products. When such a rise in demand materializes, the benefits could trickle down to entities that are in the business of manufacturing the equipment used to grow marijuana, 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.

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 — California Cannabis Company Leverages Business Model from Boutique Wineries

As competition within the legal marijuana industry gets tougher and other factors, such as adverse weather and high taxes, eat into profits, companies are having to go the extra mile in order to drive sales up and stay afloat. One California company is taking lessons from the boutique wine business to grow its business.

The Bohemian Chemist, a Philo, California craft cannabis brand, has turned to its location in Mendocino County (renowned for wineries) and the Emerald Triangle (famed for its unique marijuana) for inspiration. Having a property that has several wineries as clients, Jim Roberts studied how the craft wine companies were running their businesses and remaining profitable even as they competed against large establishments.

Roberts discovered a recurring pattern in the wineries; three major factors were always at play to ensure the success of craft wine brands. First, the wineries would conduct direct sales to their clients at locations such as tasting rooms. Second, many would sell to clients at restaurants or even engage a distributor to make products available to customers at bottle shops. The third strategy was to start an exclusive club through which members enjoyed exclusive offers and periodic deliveries in boxes of assorted items. Roberts is implementing all these strategies.

The microbusiness that Roberts runs mostly sells his own products, though they also carry a limited number of products from other craft producers in the cannabis space. The company is located in a low-population town, so this makes foot traffic seasonal and limited.

When he first opened his business, the winery tenants and their clients had mixed reactions to the marijuana company. Many initially said they aren’t interested in marijuana, but a day or so later, they would come in asking if Roberts had anything that would help manage a shoulder pain or an ache they had. With time, many confessed they had consumed cannabis while in high school, and they wanted to take it up from where they had stopped.

The Alchemist, the company’s cannabis box for cannabis club members, became available in April, and Roberts is working with marijuana retailers as well as licensed cannabis delivery businesses to reach his customers. Marijuana club membership comes with a recurring membership fee, and Roberts is making his boxes a worthy investment for his customers by including products whose total price often exceeds the recurring fee one has to incur.

Additionally, the club members gain first access to any new products that hit his shelves, and many of those products are in such a small quantity that not everyone interested may get their hands on them. A total of three boxes will be sent out to customers every year, and Roberts is hopeful his model will keep his business profitable for years to come.

As Roberts and others like him look for ways to stand out in the crowded cannabis space, other entities such as IGC Pharma Inc. (NYSE American: IGC) are walking the path of developing standardized medicines from cannabinoids, including THC, so that once those formulations gain approval from the FDA, they will access a nearly limitless market within and outside 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

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 — Minnesota Governor Appends Signature to Recreational Cannabis Legalization Bill

Minnesota Governor Tim Walz has officially signed a bill into law, paving the way for the legalization of recreational marijuana use in the state. This historic decision positions Minnesota as the 23rd state to permit the adult use of cannabis and the third in the Midwest region to do so.

The successful passage of the bill comes after a series of diligent efforts at the Capitol, including numerous committee hearings and multiple votes in both the house and senate. While the bill received strong support from Democratic-Farmer-Labor lawmakers, a handful of Republicans in the house also voted in favor of its enactment.

Although previous attempts to legalize marijuana had been made at the Capitol, the favorable outcome in 2023 can be attributed to the Democratic Party’s control of the senate, house and governor’s office after the November election.

As outlined in the legislation, individuals aged 21 years of age and above who are residents of Minnesota will be permitted to possess up to two ounces of marijuana in public and up to two pounds in their homes, effective August 1, 2023. The bill also includes provisions for the automatic expungement of low-level marijuana convictions and the establishment of a review board to assess eligibility for more serious offenses, providing individuals with prior convictions an opportunity to have their records cleared.

To ensure the responsible sale and regulation of cannabis products, the law establishes an Office of Cannabis Management, which will be entrusted with safeguarding consumer protection, promoting public health and upholding public safety within the legalized marketplace. Representative Zack Stephenson, the bill’s sponsor, expressed his satisfaction with the legislation, emphasizing its creation of a safe and well-regulated legal cannabis market. He also noted the inclusion of measures to address the disproportionate impact of previous cannabis laws on certain communities.

While Stephenson acknowledged that the implementation of regulatory and expungement measures would take time, he assured the public that these efforts would commence once the law takes effect. However, he cautioned that the establishment of licensed dispensaries could require up to 18 months, and the process of expunging tens of thousands of past cannabis convictions may extend over several years.

The sale of cannabis products will be subject to a 10% state tax. The legislation allocates approximately $80 million to support the implementation of new regulations and finance various programs related to the legalization of cannabis over the next two years. Furthermore, it includes funding for training law enforcement officers to identify signs of marijuana intoxication, addressing concerns about impaired driving.

Governor Tim Walz, recognized for his progressive stance on various issues, has recently signed several other significant bills into law, including measures that reinstate voting rights for individuals with felony convictions and legislation that enshrines the right to abortion in state law.

Minnesota’s decision to legalize recreational marijuana reflects the growing trend across states to adopt more progressive approaches to drug policy. The focus on regulation, social equity and criminal justice reform underscore the recognition of the evolving landscape surrounding cannabis use.

With recreational cannabis now legal in the state, many opportunities are likely to open up not only for marijuana organizations but also ancillary companies such as Advanced Container Technologies Inc. (OTC: ACTX) that cater to the needs of marijuana cultivators.

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Florida Recreational Cannabis Effort Notches Major Victory

Activists who have been working to put a recreational cannabis measure on the 2024 ballot in Florida have scored a major victory. The state’s department of health has announced that the initiative had tendered the required number of voter signatures to qualify the measure for next year’s ballot.

The measure, aimed at amending the state’s constitution in order to legalize adult-use marijuana, submitted 967,528 verified voter signatures. This number of signatures exceeds the minimum required by at least 70,000 voter signatures. Smart & Safe Florida spearheaded this campaign. However, it isn’t all done and dusted for the advocates. The measure still has the hurdle of clearing a review by the state’s Supreme Court, and the attorney general is expected to mount a spirited challenge to the ballot measure.

The campaigners revealed in April that they had so far injected $38.4 million into the push to let voters decide whether recreational marijuana should be legalized in the state next year. Trulieve Inc., a multistate cannabis company, bankrolled this effort. CEO Kim Rivers observed that the company was pleased to see the campaign had passed the signature requirement. She added that company officials looked forward to having the measure on the upcoming ballot in 2024.

Under this proposal, adults who are at least 21 years of age or older would be free to possess a maximum of 85 grams of cannabis for recreational use. In addition, companies that have licenses to sell medical cannabis would be allowed to be licensed to trade in recreational cannabis. Medical cannabis has been legal in the state since 2016 after a referendum approved this change to the existing drug laws.

Florida Attorney General Ashley Moody sent the measure to the highest court in the state for review. She has in the past opposed recreational cannabis legalization and is expected to maintain her stance once the matter comes up for review by the Supreme Court. The AG’s letter to the Supreme Court accompanying the measure indicates that she has reservations about the initiative’s compliance with state law. She points out that in the opinion of her office, this measure doesn’t adhere to the requirement stipulating that any ballot measure must be unambiguous and clear.

Both sides of the petition are expected to turn in their briefs to the Supreme Court by July 12, 2023. Thereafter, the court will schedule hearings to determine whether or not the proposed ballot measure should get the nod and be added to 2024’s ballot.

If this measure lands on the ballot, the turnout for the polls is expected to be boosted, especially among the younger voter demographic, because marijuana legalization has been a hot topic in the state. The matter could also be one of the major talking points during the entire campaign, possibly influencing the elections for all the positions available in the state.

Medical marijuana has had a fairly long history not only in Florida but in many other states that have legalized its use. It is not surprising that we are seeing plenty of enterprises such as IGC Pharma Inc. (NYSE American: IGC) looking to commercialize FDA-approved treatments from the cannabis plant.

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 — Missouri Cannabis Licensing Rules Worry Activists About Social Equity for Blacks

Adolphus Pruitt, St. Louis City’s NAACP president, was initially a vocal supporter of a marijuana legalization amendment aimed at addressing the lack of Black participation in the industry. However, his perspective changed when he discovered details of the requirements for those seeking microbusiness licenses outlined in the amendment.

The application was set to be released on June 6, 2023, and Pruitt was shocked to find that the list of qualifying zip codes did not include any areas in north St. Louis, where a significant portion of the Black population resides. Out of the 121 listed zip codes, only nine are from the St. Louis general area, and not a single one is from north St. Louis. Some zip codes are for post office boxes or institutions with higher-than-average mail traffic, while others cover areas with minimal residential presence or affluent suburbs. Only one zip code represents a predominantly Caucasian population. Applicants are required to prove their residence within the confines of those zip codes through utility bills, property tax receipts/bills or lease documents.

Following his discovery, Pruitt promptly wrote to the Health & Senior Services department of the state demanding corrections before the application’s release. The state plans to award 48 licenses to microbusinesses this coming fall, with the application window open from July 27–August 10, 2023.

Pruitt emphasized that the issues with the zip codes in St. Louis are just one aspect of the problematic nature of the state’s cannabis rules. Many of the listed zip codes are either post office boxes and unique codes, or are referred to rural locations with sparse populations.

The Cannabis Regulation Division’s head, Amy Moore, responded to Pruitt’s concerns, stating that the department stood by the listed zip codes. Moore explained that the analysis was based on incarceration data provided by the State Highway Patrol, the only comprehensive dataset available.

When questioned about the inclusion of specific St. Louis zip codes, the DHSS spokesperson mentioned their association with tract areas during census, but the highway patrol denied providing those zip codes to DHSS. Pruitt raised doubts about whether the zip codes accurately represented residents’ locations, suggesting that the presence of correctional facilities might explain the prevalence of rural zip codes. Moore clarified that correctional facilities did not skew the data, as only a few prisons fell within the listed zip codes.

Other concerns included the lack of education and outreach regarding the program. The law mandates the hiring of a chief equity officer to ensure social and economic equity requirements are met, but little outreach has been observed so far.

As these concerns are addressed and the recreational cannabis market gets underway, there could be openings for plenty of companies, including Advanced Container Technologies Inc. (OTC: ACTX), to build on their footprint within this region of the country.

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Thai Marijuana Sector Uncertain of Future as Incoming Government Considers Reversing Legalization Plans

Thailand’s winning party, Move Forward, has suggested reclassifying marijuana as a narcotic, even though it was legalized only a year ago. This idea has sent shock waves across a sector expected to be worth $1.2 billion in the coming years.

Since the legalization of marijuana consumption and growth, a slew of new businesses have sprung up, with multiple outlets in prominent tourist destinations such as Bangkok catering to thrilled tourists and local smokers with their selection of cannabis goods. However, business owners are concerned about a potential rollback of the liberal market by a new government.

Interestingly, a party from the departing military-backed government initially championed the decriminalization of marijuana, primarily for medical purposes. However, the drug’s legal status has remained ambiguous. Despite promises of legislation to establish clear regulations, the bill failed to pass through parliament, creating a legal vacuum that allowed a flourishing recreational marijuana industry to take shape in a nation known for its tough stance on drugs.

The Pheu Thai is one of the opposition parties that Move Forward hopes to join in a coalition government. The latter had promised during its campaign to ban recreational marijuana, citing concerns about public health and youth abuse. In its recently published political agenda, Move Forward and its partners propose reclassifying cannabis as a regulated substance with new regulations that support its beneficial applications.

This proposal has sparked unease among procannabis advocates, particularly progressive young individuals who played a significant role in the parties’ electoral success. By March, approximately one million individuals had registered as cannabis growers, though it remains uncertain whether they are all actively cultivating the plant. The exact number of unregistered growers is also unknown.

In response to the probable regulatory escalation, 200 businesses and 5,200 people have signed an online petition against the categorization of marijuana as a narcotic, claiming that doing so would violate people’s rights. Move Forward seems to be treading carefully as it traverses a sector that is expected to be worth $1.2 billion by 2025.

Sirikanya Tansakun, a party official, defended the proposal to reschedule marijuana and emphasized the need to fill the legal gap. She reassured businesses that they would have backing as the party navigated the parliamentary process of enacting laws. Tansakun declared that unlicensed street vendors and the smuggling of illegal marijuana imports would be targeted and forbidden, notwithstanding the likelihood of a broad crackdown.

The rollercoaster that efforts to legalize marijuana in Thailand are being taken through is something that companies such as IGC Pharma Inc. (NYSE American: IGC) are unlikely to experience given that their focus is on coming up with marijuana-based formulations that meet the criteria of the FDA and other regulators in the different markets where those companies hope to sell their medicines. The path to gaining regulatory approval is clear.

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 — Arizona Court Says Cannabis Sales Convictions Qualify for Expungement

The Court of Appeals in Arizona State has ruled that some people who have convictions for selling marijuana can apply to have those convictions expunged. This ruling comes after a man who had been convicted in 2014 for possessing marijuana with an intention to sell it sought the Appeals Court’s opinion regarding a lower court’s decision to deny his request for expungement.

It should be remembered that in 2020, voters in Arizona approved a recreational cannabis legalization law. This law also had provisions for expungement of criminal records regarding marijuana crimes that were no longer crimes under Prop 207. For example, people who were found guilty of possessing cannabis in amounts that were now legal could apply to have those criminal records expunged.

When that legalization law took effect, the Attorney’s Office in Maricopa County launched an application on behalf of a man convicted on a charge of possessing marijuana with intent to sell it. However, the court denied the request, arguing that the law didn’t include individuals whose convictions were related to selling or the intent to sell marijuana. The attorney’s office appealed this ruling, and the appeals court agreed with the petitioners who were acting on behalf of the man in need of relief from that charge on his criminal record.

Brian Furuya, the judge who delivered the appeals court ruling on behalf of a panel of three judges, asserted that the crime of transporting marijuana now qualifies for expungement and that since 1987, transporting cannabis for one’s own use hasn’t been a crime in Arizona. For that reason, the court was of the view that the voter measure, which was passed during the 2020 polls, must have referred to marijuana transportation for sales purposes since transportation for one’s own use has been legal for decades.

Martin Hutchins, who spearheaded the legal efforts on behalf of the ex-convict, welcomed this ruling. He said that the practice was that anyone found in possession of cannabis would be assumed to have the intention of selling it, and so they would also face marijuana sales charges once arrested and arraigned before court. Hutchins felt that those convicted on marijuana sales charges after being found with small amounts of the drug weren’t necessarily drug dealers.

However, not everyone is thrilled about this ruling. For example, the advisory council for the prosecuting attorneys in Arizona tendered a brief to the appeals court stating that the law under which recreational cannabis became legal was unequivocal in excluding cannabis sales convictions from the expungement provisions. Court didn’t agree with this opinion.

As more of these vestiges of marijuana prohibition are eliminated, a thriving industry that allows many ancillary companies such as Advanced Container Technologies Inc. (OTC: ACTX) to deepen their reach in different markets.

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

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

CNW420 is part of the InvestorBrandNetwork.

Lexaria Bioscience Corp. (NASDAQ: LEXX) Completes Animal Study Showing Its Patented DehydraTECH(TM) Technology Significantly Enhances Oral Delivery of Estradiol; Raises $2 Million in Gross Proceeds from Public Offering

  • Lexaria recently completed its animal study HOR-A22-1 showing its patented DehydraTECH(TM) technology dramatically enhanced the oral delivery of estradiol, a type of estrogen hormone
  • The use of DehydraTECH resulted in ~900% higher peak concentration of estradiol in the bloodstream compared to the control, as well as a 2,000% increase in the levels of estrone
  • Estrone is a type of estrogen that can be reversibly made from estradiol in certain tissues within the female body
  • The study HOR-A22-1 also revealed that DehydraTECH resulted in 1,500% and 12,500% higher exposure to estradiol and estrone over time, respectively, compared to the control
  • Lexaria also announced the closing of a public offering that raised approximately $2 million in gross proceeds

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently reported that it had completed its animal study HOR-A22-1, which showed that the company’s patented DehydraTECH(TM) technology platform significantly enhanced the oral delivery of the estrogen hormone estradiol (https://cnw.fm/7InvU).

Performed in 20 female Sprague-Dawley rats, the pharmacokinetic study compared a DehydraTECH-estradiol formulation to a generic estradiol composition, both containing 10 mg/kg of estradiol, to evaluate the ability of DehydraTECH to enhance the delivery properties of the orally administered hormone. Once dosing was completed, blood was collected up to 48 hours post-dosing, with the concentration of estradiol and estrone determined thereafter.

Estradiol is a major female sex hormone and the most common form of estrogen in women of childbearing age. It is normally made in the ovaries (although it is also manufactured in the testicles in men, albeit in small quantities) but can be administered as an oral tablet, topical gel or patch, cream, or injection to reduce the symptoms of menopause and protect bone health. It is also found in birth control products. Put simply, estradiol is an important element of therapeutic products in the women’s health sector. On the other hand, Estrone is the only type of estrogen that females continue to manufacture after menopause. It is primarily made in the adrenal glands (in both males and females), although it is also reversibly manufactured from estradiol in tissues found in the mammary gland, uterus, and liver, a factor that informed the study’s measurement of estrone levels.

The study found that the DehydraTECH-estradiol composition resulted in a maximum concentration in the bloodstream (“Cmax”) of 5.65 ng/mL, which was approximately 900% higher than the control formulation’s Cmax (0.63 ng/mL). Additionally, the use of the DehydraTECH-formulation resulted in a 2,000% increase in the levels of the estrone metabolite, also measured using the Cmax parameter: DehydraTECH-estradiol resulted in a Cmax of 6.49 ng/mL compared to the control’s 0.302 ng/mL.

Additionally, the study evaluated the area under the curve (“AUC”), a parameter that gave insight into the total delivery of estradiol over time as well as the extent of exposure to estrone. The AUC was 3.9 hr.ng/mL for estradiol and 32.6 hr.ng/mL for estrone when the DehydraTECH-processed composition was used. In comparison, the AUC after administering the control was non-detectable for both estradiol and estrone, as it was below 0.25 ng/mL, the lower limit of quantitation of the assay. This means the AUC findings were 1,500% and 12,500% greater than the control for estradiol and estrone, respectively.

Considered an additional step that is readily incorporated into the formulation and manufacturing process of existing or new orally ingestible and topical products, DehydraTECH has been shown to improve the proportion of the drug delivered into the bloodstream (bioavailability) and the absorption of drugs into the brain tissue. Among the drugs that can benefit from these improvements is oral estradiol, which has minimal bioavailability (2% to 10%) due to gut and liver metabolism (https://cnw.fm/AWDP1). This, according to Lexaria, often necessitates high dosages to achieve the desired beneficial effect; but this can, in turn, lead to unwanted side effects. Thus, incorporating DehydraTECH into the manufacturing process of oral estradiol and potentially other human hormone therapies may enhance their oral delivery.

The animal study HOR-A22-1, which is part of Lexaria’s efforts to pursue multiple paths to success by investigating several large market opportunities, represents a foray into the hormone replacement market estimated to grow from $31.06 billion in 2019 to an estimated $46.50 billion by 2027, a 5.1% CAGR (https://cnw.fm/wKiCZ).

Meanwhile, Lexaria also announced the closing of its public offering of 2,106,000 units, each consisting of one share of common stock and one warrant to purchase one share of common stock. The offering generated approximately $2.0 million in gross proceeds.

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)
Denver, Colorado
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Minnesota Agencies Set Timelines for Launch of Recreational Cannabis Sales

State agencies in Minnesota hope to start granting retail licenses for permitted marijuana sales within a year. To accomplish this, a request has been made for vendors to provide a timeline for the program’s development, following the approval of a bill by the legislature permitting adults aged 21 years and older to possess and purchase cannabis. Governor Tim Walz has expressed his intention to sign the bill into law, thereby making Minnesota the 23rd state to legalize recreational marijuana.

The state is looking for a software provider to handle the applications and data related to retail licenses. According to the proposal package, work on the project would begin in July, and applications for licenses would begin in May 2024. Although the date may change, the first dispensary sales of marijuana are anticipated to begin in January 2025.

In the interim, starting in August, individuals will be permitted to cultivate marijuana plants at home, within certain limits. They will be allowed to possess up to two pounds of cultivated cannabis and share small amounts with individuals of legal age whom they are acquainted with.

Pending Governor Walz’s signature, the bill outlines the following key points:

  • Marijuana would be legal for adults 21 years of age and older to buy, possess and consume; however, there would be consequences for selling the substance to minors.
  • The state will tax cannabis sales at a 10% rate, which is considerably less than the rates in many other states where recreational cannabis is legal. The revenue earned will be used to assist the legal cannabis market through grants and other regulatory measures. The state treasury will receive 8% of the tax money, with the remaining 2% going to local governments.
  • Counties and cities might set a limit on the number of cannabis merchants depending on the size of their respective populations, with at least one store for every 12,500 residents. Communities could award additional licenses, but there would be a ceiling.
  • Individuals with previous marijuana-related convictions may have their criminal records expunged. The lowest-level offenses would be subject to an automatic process that would begin in August and go until 2024. More difficult matters would be reviewed by a different board.

Minnesota has had a medicinal marijuana program in place for nearly a decade, initially restricted to tablets, oils and other nonsmoking forms. The authorization for the leaf form was granted in 2021.

It is noteworthy that Minnesota has had a medical cannabis program for almost 10 years, and the state has progressively expanded the range of products that patients can access from the marijuana-licensed outlets. Now that companies such as IGC Pharma Inc. (NYSE American: IGC) are developing formulations that can meet the strict FDA requirements, the concerns that some people have about using marijuana will be addressed through these pharmaceutical-grade medicines.

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 — Nevada Lawmakers Urge Congress to Approve Federal Marijuana Legalization Law

Last week, senators in Nevada passed a measure that called for Congress to legalize cannabis at the federal level. The approved measure states that marijuana has many medical uses that have been well documented, yet it is still classified as a Schedule I substance.

Under the Controlled Substances Act, marijuana is classified in the same category as drugs such as heroin, LSD, peyote, ecstasy and methaqualone. Drugs under this schedule are said to have a high potential for abuse and no accepted medical use.

The legislation also highlights that voters in Nevada have approved measures at the ballot to legalize recreational and medical cannabis, adding that in 2022, a district court in the state ruled that the designation by the Board of Pharmacy categorizing marijuana as a Schedule I drug was unconstitutional. It also notes that marijuana’s federal classification makes it difficult for patients to obtain medical insurance coverage for marijuana prescriptions, in addition to them not receiving coverage under health savings accounts.

In addition, the measure also explores financial barriers that cannabis businesses encounter under current prohibition, specifically the lack of access to banking services. This has forced many legal businesses to operate on cash solely, making these businesses crime targets. The resolution also requires that the chief clerk of the Assembly prepare and circulate a copy of this bill to every member of the Nevada Congressional Delegation, the Speaker of the House of Representatives and the presiding officer of the United States Senate, as well as the Vice President of the U.S.

Senators in Delaware approved a similar measure earlier this year, which also asked the federal government to stop cannabis prohibition.

During this session, legislators in Nevada have discussed other measures on drug policy, including a measure that would increase the possession limit of marijuana and eliminate barriers to employment in the cannabis industry.

The State Athletic Commission also held a vote to advance a proposed amendment to Gov. Joe Lombardo, which would protect athletes from penalization over the possession or use of legal cannabis. In 2021, this body voted to stop the penalization of professional fighters who tested positive for cannabis. However, the policy is yet to be integrated into the code. This recent amendment would alter that. The Nevada State Athletic Commission regulates unarmed combat sports within the state.

In other news, law enforcement regulators in the state also introduced a proposal to revise Nevada’s employment policy. If approved, previous conviction over the possession of cannabis for amounts that have been legalized would no longer be used to disqualify police recruits.

If the federal laws on marijuana are repealed, there will be a massive market created for various companies that service the cannabis industry, such as Advanced Container Technologies Inc. (OTC: ACTX), as well as companies that directly deal in marijuana or its products.

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

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

CNW420 is part of the InvestorBrandNetwork.