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 — Small Cannabis Cultivators in California Struggle as Climate Conditions Worsen

The multibillion-dollar agricultural industry has been greatly affected by adverse weather conditions, with small marijuana growers feeling the heat most.  Almost 3,000 small marijuana farmers were recently greatly affected by severe weather, another blow to their businesses, which are already grappling with dropping sales, high taxes and increased competition from larger indoor farms.

The state of California has the biggest recreational marijuana market in the country. However, despite working and living in the Northern California counties of Mendocino, Trinity and Humboldt, cultivators in these parts have struggled since recreational cannabis was legalized a few years back.

The three counties make up the Emerald Triangle, which comprises communities founded by marijuana farmers in the ‘60s when individuals began growing marijuana under the thick canopy of old-growth oak, Douglas fir and redwood trees.

In the past, these small-scale farmers have waded through serious wildfires destroying millions of acres in crops, droughts that have destroyed product, the illicit market continuing to affect demand by driving prices down, and compliance fees and taxes depleting business profits.

Historic cold and snow was recently added to this list of setbacks.

Since marijuana is still considered illegal at the federal level, small growers can’t apply for federal assistance to rebuild or recoup their losses following a disaster. It doesn’t help either that annual sales for California have also been decreasing, something that hasn’t happened since the recreational market was launched.

Last year, annual legal cannabis sales hit $5.3 billion, quite a decrease from the $5.7 billion recorded in 2021.

The decline follows a bear run that drove wholesale cannabis prices to $300 per pound, which is a significant drop from the $3,000 per pound price the market experienced a few years before. This shift affected small, seasonal operators the most, as it makes it hard for them to compete with indoor growers who can grow their product year-round and better control conditions for their plants.

In 2022, California shifted the 15% excise tax burden to retailers from distributors, eliminated a cultivation tax on growers and overhauled its cannabis tax structure. Despite this, farmers are still finding it hard to stay afloat.

Farmers across the Trinity, Mendocino and Humboldt counties may soon stop paying taxes because they can’t afford to, with some cultivators going as far as to consider selling their products in the illicit market, where they can avoid taxes and set their own prices. At the moment, many are either focused on closing up shop or cutting their costs significantly.

Outdoor cultivation has its challenges as the farmers in the Emerald Triangle will testify, which is why some businesses such as Advanced Container Technologies Inc. (OTC: ACTX) have brought innovative products on the market to aid in the indoor cultivation of cannabis and other high-value plants.

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 — Study Finds Inconsistencies Between Actual THC Levels, Information on Labels

You might not get as high off the marijuana you’re buying as you had hoped. A recent study by UNC researchers revealed that most cannabis product labels made claims about potency that were higher than what was present in the products. The researchers reached these conclusions after evaluating marijuana samples from multiple Colorado dispensaries.

The study’s conclusions highlight the absence of regulations in the rapidly growing cannabis market all around the country and raise the possibility that many consumers are being misled into thinking their purchase will contain more THC, the psychoactive ingredient responsible for marijuana’s euphoric “high.”

For the study, the researchers purchased 23 different varieties of marijuana flowers from 10 dispensaries in three Colorado cities — Garden City, Denver, and Fort Collins — and tested the THC levels of each sample.

The THC levels in 18 of the samples were lower than what was indicated on the labels, according to the researchers. Some of the products contained 40–50% less THC than what was stated on the labels. The 18 samples, on average, had 23% less THC than what was indicated on the product label. Only five of the samples exhibited THC concentrations that were within or very near the range stated on the labels.

Although recreational marijuana is legal in 21 states and Washington, DC, researchers claim that there is insufficient control over the THC dosage that a person might receive when purchasing cannabis. One major reason for the lack of control is that the drug is still federally illegal, which means both medical and recreational cannabis requirements differ by state.

Cannabis cultivators send samples to independent labs for analysis to determine the THC content of the plant. Frequently, prices increase linearly with THC content. According to Anna Schwabe, the study’s lead author, this cost dynamic has encouraged businesses to cultivate, market and sell marijuana with higher THC contents.

Different sections of the marijuana might contain varying amounts of THC, which often decreases as you move from a plant’s top to its lower limbs. According to studies, the THC in cannabis buds can also degrade with time, particularly if the herb isn’t maintained properly. However, the researchers found that the cannabinol that results from THC degradation was not present in significant amounts in the study’s samples. This suggests that the reduced potency in the observed vs. reported levels was not caused by aging or poor storage conditions.

These inconsistencies in ingredient potency make a strong case for cannabis products, especially those intended for medicinal purposes, going through the clinical development process as is being done by IGC Pharma Inc. (NYSE American: IGC) in the company’s bid to bring standardized pharmaceutical-grade formulations to market after gaining FDA approval for those formulations.

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 — Missouri Cannabis Businesses Still Unable to Access Banking Services Fully Even After Legalization

During the November 2022 elections, voters in the state of Missouri approved a resolution legalizing the recreational use of marijuana. Legal possession of marijuana for individuals aged 21 years and above became legal in December 2022, with the first licensed sales occurring in February 2023.

However, while significant strides have been made, the inability of cannabis firms to access full banking services is still a problem.

Currently, Triad Bank is one among a handful of banks in the state that work with marijuana businesses. This is mainly because marijuana is still illegal at the federal level, despite being legal at the state level.

Missouri Bankers Association President Jackson Hataway states that the divide between state and federal stances on marijuana have put banks in a tricky situation. Cannabis business owners still can’t have business credit cards, because most credit card want want no links with businesses that sell federally illegal products. This has put many companies at risk of robberies or extortion because all transactions for marijuana businesses across the country are cash based.

The differing stances have also led to the creation of the cannabis banking ecosystem, which is made up of certain banks that work with cannabis businesses and the financial technology firms that provide a range of services to keep the businesses federally compliant.

Fintechs work with financial institutions as agents or brokers for cannabis businesses.

While it’s unclear how many banks in the state service cannabis businesses, it is common knowledge that financial technology companies are the largest advertisers of marijuana banking services. A popular financial tech company, Safe Harbour Financial, has a huge footprint in Missouri’s marijuana market. The company’s business development officer, Tyler Beuerlein, stated that the entity banked a number of operators and were focused on expanding the relationships.

He also notes that its large client base in Missouri was brought in mainly because of the company’s history of working with cannabis companies in other states.

Other banks servicing this growing market include Regent Bank in Springfield and MRV Banks in southeastern Missouri. The director of the cannabis banking program at Regent Bank, Keri Cain, believes that more banks need to start providing their services to these businesses, which are part of a billion-dollar industry. Cain posits that the primary reason why more banks don’t want to service cannabis businesses is the capacity required for the task.

It should be noted that banks can provide services to the cannabis industry, as long as they adhere to the Financial Crimes Enforcement Network (FinCEN) guidelines.

The lack of access to full banking services can hamper companies that would like to scale up their operations by obtaining additional cultivation equipment from the likes of Advanced Container Technologies Inc. (OTC: ACTX) because financing may be hard to come by. This could curtail the rate at which the industry grows.

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 — Another Federal Court Says Banning Cannabis Users from Owning Guns Is Unconstitutional

A federal judge has found that it is unlawful to prohibit marijuana users from owning or selling firearms. Paola Connelly, who lives in El Paso, Texas, was found guilty of distinct offenses for having and moving a gun in 2021 while accepting that she was a marijuana consumer; she was cleared after the United States Federal Court for the Texas West District agreed to review the case.

A recent decision by the United States Appeals Court for the 5th Circuit forced a re-evaluation after the court had earlier given the conviction. The decision centered on an earlier ruling established by the Supreme Court of the United States, which held that any constraints on firearms must be in keeping with the past background of the second amendment’s initial enactment in 1791. Numerous objections to the prohibition of guns for cannabis consumers have their roots in the Supreme Court’s decision.

Judge Cardone Kathleen rejected the DOJ’s efforts to draw parallels between the prohibition of cannabis and statutes prohibiting the use of firearms while inebriated and the consumption of marijuana by those who are regarded as “unvirtuous.”

The court stated that since merely possessing marijuana would only constitute a minor offense under the law of the United States, “any past custom of disarming ‘unlawful’ persons is incompatible with disarming Connelly for purported marijuana use.” The court emphasized that the person in question had not previously been charged with a marijuana-related violation, undermining the DOJ’s argument for the charges. She merely acknowledged smoking cannabis to relieve anxiety and help her sleep.

The decision has brought attention to how federal cannabis law has changed and how it may be affecting these weapons cases. Due to Michigan’s marijuana laws allowing “habitual cannabis users” and other prohibited people to obtain guns illegally, the ATF released guidance in 2020 that mandates gun vendors to run federal background investigations on all unregistered gun buyers.

Congressmen and state legislators are aggressively investigating how the use of firearms affects cannabis regulation. For instance, lawmakers in Arkansas recently sent an initiative to the governor’s office that aims to make it clear that people who use medical cannabis can obtain concealed carry permits for weapons. A Republican Pennsylvania senator reportedly urged authorities to take action to remove state restrictions on the ownership of firearms for marijuana consumers, especially medical cannabis patients, given the significance of the federal court’s finding in February that the federal ban is unlawful.

For patients who will have the chance to use marijuana-based formulations from companies such as IGC Pharma Inc. (NYSE American: IGC) once they gain regulatory approval, no such concerns about gun ownership rights will arise since those patients will be using a federally approved medicine.

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 — Attorneys Say Government’s Response in Gun Rights Case Is ‘Dangerous and Startling’

Attorneys recently filed a case appealing the federal government’s decision to prevent patients using medical cannabis from owning firearms. The attorneys, who are representing medical marijuana patients from Florida, are asking the Court of Appeals for the Eleventh Circuit to overturn a decision made by the federal district court to dismiss the lawsuit, arguing that the ban is inconsistent with recent Supreme Court precedent, in addition to being unconstitutional.

Recently, the Justice Department stated that allowing medical cannabis patients to own guns could undermine the government’s ability to restrict ownership by individuals who are addicted to controlled substances such as cocaine, meth and fentanyl. The attorneys stated that the respondents attempted to lump the use of legal medical marijuana with more dangerous and serious substances such as heroin, cocaine, meth and fentanyl, mainly because the respondents lacked historical support for their stance.

The attorneys further note that the argument is based on the assumption that allowing illicit drug users to purchase or possess firearms will deter the court from siding with them. However, this ignores the fact that the possession of the other substances, save for marijuana, can constitute a felony that will justify gun restrictions.

The plaintiffs then noted that the remarks made by the DOJ were dangerous and startling, because multiple chares of possession of marijuana, which would normally be considered a misdemeanor offense, would accelerate to a felony, warranting the loss of an individual’s second amendment rights. This is despite the fact that individuals wouldn’t have been prosecuted for said offenses.

Parties involved will have to wait and see how the courts decide to proceed in the matter, with the Justice Department hinting that it may allow oral arguments to be scheduled, given the case’s significance and novelty. Attorneys involved in the Florida case also submitted a notice of supplemental authority citing a development in a separate but related federal lawsuit.

Those supporting the Florida lawsuit argue that the Alcohol, Tobacco, Firearms, and Explosives Bureau requirement establishes an incentive for marijuana consumers to either buy a gun on the illegal market or forgo their right to bear arms. Advocates have also maintained that ending the federal ban for marijuana consumers isn’t about expanding gun rights but a matter of constitutionality and public safety.

Earlier in February, the U.S. District Court for the Western District of Oklahoma ruled that the firearms ban for any marijuana consumer was unconstitutional. In the final ruling, the judge highlighted that the federal ban prohibiting individuals who used marijuana from selling, transferring or possessing firearms was unconstitutional.

Entities such as Advanced Container Technologies Inc. (OTC: ACTX) are likely to follow this case closely since its outcome may impact their strategic plans and projections.

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 — Study Highlights Medical Marijuana Safety Concerns in Canada

A new study has found that most Canadians who need medical cannabis usually purchase their products from the recreational market instead of the medical system, which raises safety and health concerns. In Canada, medical marijuana can be accessed legally through a licensed marijuana seller by individuals who possess medical authorization, or a prescription.

The study involved 5,744 participants, making it one of the biggest surveys ever done on how Canadians accessed marijuana for medical purposes. It was conducted by a University of Manitoba researcher and completed in collaboration with patient groups SheCann Cannabis, Medical Cannabis Canada, McGill University and Santé Cannabis.

The study determined that more than one-half of those involved in the survey purchased their cannabis without prescriptions.

Associate professor and principal investigator of the study, Dr. Lynda Balneaves, stated that the findings showed that individuals who used marijuana without a medical prescription were 20% less likely to seek advice from health-care professionals as well as 14% more likely to not be aware of the amount of medical cannabis they were consuming.

They were also 27% more likely to use the illicit market to obtain the drugs, in comparison with those who possessed medical authorizations. Additionally, these individuals were 16% more likely to rely on unqualified and nonevidence-based sources of information as well as 7% more likely to experience side effects from the drugs they consumed.

Balneaves also discussed how individuals who lacked medical authorization had limited access to medical advice on things such as type of product and potency. This raises concerns about whether individuals were using medical cannabis effectively and safely and whether that cannabis use could potentially be harming their health.

She added that these individuals also faced financial barriers, noting that those with medical authorizations spent roughly 25% more on medical marijuana with under 6% receiving any insurance coverage for costs incurred. The survey also found that almost one-half of those who stopped using medical marijuana did so because they couldn’t cover the costs.

Medical Cannabis Canada board chair Max Monahan-Ellison stated that the Cannabis Act discouraged and penalized accessible and safe use for patients with medical authorization. He also noted that the organization’s data showed that patients accessing cannabis for medical purposes deserved more support.

Parties involved gave some recommendations based on the study’s findings, which include:

  • Maintaining reasonable access to cannabis via a dedicated framework
  • Developing, implementing and evaluating health-care professional education training, with a focus on medical cannabis
  • Maintaining and amplifying a federal resource hub that offers updated, evidence-based resources and information about medical marijuana.

In the years to come, patients who require cannabis-based medicines may not have to take risks buying medicinal products from recreational use shops because entities such as IGC Pharma Inc. (NYSE American: IGC) are working to formulate treatments from THC and other cannabinoids with the aim of alleviating chronic pain and other symptoms.

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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420 with CNW — Fixing Three Issues Could Improve Key Cannabis Relationships

Cannabis laws within a state may span several hundred pages and include numerous regulations. However, the three things that are most vital to the regulators who make these regulations as well as the law enforcers who implement them include the following:

  • Preventing the diversion of products to the black market
  • the physical security of marijuana businesses
  • a possible strain on public resources as well as law enforcement.

Marijuana enterprises should center their security measures on those three aspects to remain compliant and maintain harmonious relations with law enforcement and regulators.

Anthony Vanderhorst, security director at Jushi Holdings, says when it comes to diversion, authorities want to know that you’ve set standard operating policies and procedures to avert unwanted events from happening within the business premises. He adds that the primary aim of physical security is to ensure that nothing happens externally. When those twin objectives are combined, you have a thorough plan.

Regulations on physical security cover things such as cameras and alarms as well as other comparable security technologies. In addition, considerations should include guarding against internal flaws that may lead to diversions, such as employee theft and subsequent sale of products, and averting exterior dangers such as robberies, law enforcement officials urge cannabis companies to be cautious of taxing community resources.

The majority of police officers and municipal governments believe that legalizing marijuana will increase crime in their communities. They are concerned about marijuana merchants contacting the police regularly to report both real and fake alarms, leaving other regions unguarded and open to criminal acts.

To counter these fears, Vanderhorst admonishes plant-touching businesses maintain exhaustive SOPs (standard operating procedures) linked to security as well as how to handle possible threats as and when they emerge.

Tony Gallo, CEO of Sapphire Risk Advisory Group, observed that a police department’s expectations for a cannabis store frequently depend on the market’s maturity and familiarity with legal marijuana marketplaces, as well as the store’s location. Gallo opines that police in mature cannabis markets simply don’t want to bear any extra costs because of issues that could emerge at a marijuana facility. They want to know how the cannabis business will prevent a diversion in their area.

Regardless of how established a market is, cannabis executives need to be cognizant that if they operate many facilities, each one will need a different security strategy.

Observers also noted that while some security expenses, such as those for cameras and alarm systems, decrease gradually, new markets generally have higher security needs than more established ones. As a result, start-ups will spend more on security than they had anticipated.

However, as law enforcement and authorities learn what is needed to safeguard cannabis establishments, these expenses may eventually decline. And as markets mature, cannabis entities, especially cultivators, also see their need for cultivation equipment from the likes of Advanced Container Technologies Inc. (OTC: ACTX) also growing as they move more products to retailers.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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

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

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420 with CNW — Arkansas Legislators Send Bill on Medical Cannabis Patients’ Gun Rights to Governor

A measure allowing medical marijuana users to receive concealed carry permits for weapons has been approved by the Arkansas Senate. Representative Aaron Pilkington introduced the bill, which was approved by the House of Representatives last Tuesday prior to being approved by the entire Senate on Friday.

According to the proposed legislation, a person’s eligibility for medical marijuana cannot be utilized to decide whether they are qualified for a firearms license. A person who participates in the medical cannabis protocol does not become a chronic or persistent user of a prohibited substance, which may prevent them from receiving concealed-carry approval, according to an amendment to state law that makes this clear.

Additionally, during any probe of an individual’s suitability for concealed carry, the state’s health department is not permitted to reveal that individual’s medical history to the state’s law enforcement agencies. While some states have taken action to protect marijuana patients’ and users’ gun rights, this law is specific to the concealed carry concern.

Although permits for concealed carry are not a requirement in Arkansas, certain citizens choose to obtain one to make trips to other states and be more informed when speaking with authorities.

This law is being introduced as federal courts consider whether cannabis users should have access to firearms. In connection with ongoing litigation challenging the government’s prohibition on medicinal marijuana users owning weapons, the United States Justice Department recently filed a brief with a federal appeals court.

Many of the concerns stated by the DOJ in the submitted brief are echoed in earlier submissions, such as in a federal district court that rejected the case that is currently being appealed. The Biden administration, however, has emphasized again in its most recent brief the “wide-ranging consequences” of a decision in favor of the plaintiffs.

By virtue of the federal court’s decision that the nationwide prohibition is unlawful, a Republican Pennsylvania lawmaker recently urged law enforcement to abolish state restrictions on marijuana consumers being able to purchase firearms, with a focus on medical cannabis patients. A significant House panel in Maryland conducted hearings on a plan to safeguard firearms rights for the state’s medical marijuana consumers in February.

In November, Arkansas citizens rejected a measure that would have legalized cannabis for adults. The legislation that was approved by the Senate is more narrowly oriented toward concealed carry than it is toward legalizing cannabis. The legislation received approval with sufficient backing in the legislature to overturn a possible veto. It now moves to Governor Sarah Huckabee Sanders for approval. It is unclear what her conclusion will be.

As some companies such as IGC Pharma Inc. (NYSE American: IGC) develop formulations from marijuana and gain FDA approval, there is unlikely to be debate about patients’ gun ownership rights since they won’t be regarded as people consuming a banned substance.

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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420 with CNW — State Data Shows Marijuana Sales in Missouri Totaled $126M in March

Latest data shows that cannabis sales in the state of Missouri for the month of March hit $126.2 million. This is month two since recreational retailers were launched in the state, after voters passed a measure to legalize the recreational use of the drug last year.

The revenue generated represents a 22.4% increase in marijuana sales from the amount generated in February. Broken down, recreational and medical marijuana sales stood at $93,500,000 and $32,700,000 respectively.

Projections expect that before the year ends, collective marijuana sales in Missouri may hit $1 billion.

The aggregate sales total for the budding recreational market and the medical cannabis program is also closing in on the $1 billion mark, having already reached $871 million.

Last week, the state’s Division of Cannabis Regulations also revealed that more than 14,000 jobs had been created in the cannabis sector, as per data from Missouri Cannabis Trade Association (MoCannTrade).

In a press release, MoCannTrade’s Andrew Mullins stated that Missouri was well-positioned to make a huge impact on its economy with its consumer-friendly marijuana program and record sales. The economic impact of the marijuana industry on the state is expected to continue growing, especially since voters in various counties and cities passed local cannabis tax initiatives at the ballot last week.

Missouri’s Department of Health and Human Services has been commended for its establishment of a regulated market, which it began planning for prior to the November 2022 elections. By February 2023, regulators had already approved some dispensaries to begin selling cannabis to eligible consumers and started taking applications for individuals to grow their own marijuana at home.

Missouri is among many other states recording strong cannabis sales in the country, as more markets are launched. For instance, the state of New Mexico celebrated its one-year adult-use cannabis market anniversary recently. Thus far, the state has raked in more than $300 million in sales, with the industry creating numerous job opportunities.

Over in Massachusetts, the recreational marijuana market surpassed $4 billion in sales earlier in January. The state’s recreational market was launched in November 2018. In Arizona, the 2022 total for adult-use marijuana purchases hit $1.4 billion.

In other news, Missouri’s House may soon approve a measure that would legalize psilocybin therapy for eligible patients while also promoting studies into psilocybin. In addition to this, the bill would expand the scope of the state’s Right to Try statute for severely ill individuals.

With the way the industry is growing so quickly, one could expect a variety of opportunities to be availed for various ancillary product and service providers such as Advanced Container Technologies Inc. (OTC: ACTX) operating within the state.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – Prime Harvest Inc. Eyes Continued Growth and Expansion with Recently Launched Reg A+ Offering

Prime Harvest, a tech-focused legal cannabis enterprise and parent company to SoCal’s premier dispensary JAXX Cannabis, recently launched Weed 4 The People – the company’s Reg A+ offering that allows the public to own a piece of the company for as little as $4.20 per share at a minimum of 100 shares. “Prime Harvest aims to raise upwards of $42M to fund the expansion of JAXX Cannabis, the company’s flagship store, and delivery platform. Options for potential investors range from $420 to $50,000+, with rewards that include equity stake in the company, and in-store benefits including instant rebates, cashback incentives, JAXX tasting room access, bonus shares, and more,” a recent article reads. “The company’s objective is to continue the development of its upcoming first-in-class delivery service mobile app, which promises to strengthen the commercial cannabis pipeline while offering consumers a personalized, data-driven experience. According to the Reg A+ offering website, company revenue grew by 976% from 2019-2022, while annual customer value increased by $696 and unique customer growth expanded by 395%. Prime Harvest aims to open 20+ locations across California within the next five years.”

To view the full article, visit https://cnw.fm/81qAv

About Prime Harvest Inc.

Prime Harvest is a technology-focused full-service cannabis corporation. The company is horizontally diversified across various segments of the cannabis value chain, including licensing acquisition and compliance management, and state-wide direct-to-consumer operations. Based in the innovation hotspot of San Diego, California, Prime Harvest is expanding its footprint throughout the Golden State by executing a long-term strategy of investing in the growth and scale of licensed assets anchored by the power of data-driven technology. Prime Harvest’s flagship retail brand, Jaxx Cannabis, upholds exceptional standards of quality and services and provides a rewarding experience for customers in San Diego and the surrounding Southern California communities. Trust and credibility are at the heart of everything that the team at Prime Harvest stands for. The Prime Harvest team is composed of true experts in their respective fields, carefully assembled with the aim of building a world-class organization that can drive the cannabis industry and movement forward. For more information about the company, visit www.PrimeHarvestInc.com.

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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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