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 — Cannabis Legalization Bill in Minnesota Sees Major Overhaul

Earlier this year, a Minnesota House committee approved a measure to legalize recreational cannabis for adults in the state. The legislation was an updated version of a recreational cannabis bill that had advanced from the Minnesota House but failed to pass the then-Republican-controlled Senate.

Once it was approved, the bill was set to be scrutinized by more than 10 committees in the House before heading to the Senate. The recreational cannabis measure recently got a major overhaul and was amended to include new language to protect Minnesota’s nascent low-potency drinkables and edibles segment. Low-potency cannabis products are made using THC (delta-9 tetrahydrocannabinol) from industrial hemp rather than marijuana.

Although both hemp and marijuana are in the cannabis family of plants, industrial hemp is required by law to contain less than 0.3% THC while state-legal marijuana has no such limits.

Legislators in the state and local government committee added the hemp provisions to the Senate version of the bill. House Commerce Committee chairman and lead House author Representative Zack Stephenson said that similar language will be added to the House version of the bill this week. Colead author, Senator Lindsey Port, told the local and state government panel that cannabis prohibition is a “failed system” that hasn’t achieved any of its goals.

Prohibitionist policies were first launched under the guise of tackling drug addiction and defunding the criminal organizations that run the drug trade, but those policies disproportionately affected communities of color and exacerbated already existing racial paradigms.

Port noted that the 142-page amendment focused on licensing and regulatory provisions to address feedback from stakeholders in the low-THC segment.

Unlike cannabis businesses, which have very limited access to capital and banking services, players in the hemp industry can access capital and deduct business expenses from their taxes. However, the two expressed concern that the measure’s original language would lump some entities too closely with incoming marijuana businesses and limit access to crucial financial services. Port also said that the amendments gave local governments more control over cannabis markets but prevented government officials from issuing total bans on marijuana businesses within their jurisdictions.

Both Senate and House versions of the bill have gone through more than 20 committees and are expected to pass through a few more before heading to a vote on the floor.

The House version will likely pass the floor vote as the House already passed a previous version of the bill last year, but the bill’s chances in the Senate will depend on whether its backers can secure enough votes. Stephenson said that he believes the bill has strong support and that they may have even secured support from some Republican lawmakers by the time the measure gets to the floor.

As these legislators move to bring an end to marijuana prohibition in the state, entities elsewhere such as India Globalization Capital Inc. (NYSE American: IGC) are making promising strides in their bids to develop medicinal formulations from cannabis that will pass FDA scrutiny and be approved for use against conditions such as chronic pain.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital 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 — German Minister Confident That EU Will Sign Off on Germany’s Adult-Use Cannabis Proposals

Last year, German lawmakers unveiled a measure that would legalize recreational cannabis in the country. The bill would allow adults aged 21 years and older to purchase and possess up to 30 grams of cannabis for personal use as well as legalize the home cultivation of up to three mature cannabis plants per adult.

Speaking at the time, Health Minister Karl Lauterbach said that the measure would help to protect the country’s young people as the current ban on recreational cannabis had proven to be ineffective. Although the measure still hadn’t received parliamentary approval at the time, the largest hurdle it would have to overcome would be to receive approval from the European Union.

In a recent statement, Lauterbach said that he was confident the European Union would choose to approve Germany’s recreational cannabis measure. He also noted that lawmakers would soon publish a cannabis legalization bill that “conforms to European law” in the next couple of weeks.

The minister said that the EU commission gave him “very good feedback” regarding Germany’s cannabis legalization blueprint before he took part in an EU meeting in Brussels. The blueprint for Germany’s pending cannabis legalization law was sent to the European Commission last fall to ensure that it was compliant with EU and global drug laws. The commission is expected to provide a decision regarding the blueprint in the next few weeks.

According to the blueprint, Germany would realistically launch its recreational cannabis industry sometime in 2024. It would also limit the recreational cannabis markets to products cultivated within the country’s borders, dashing the hopes of some global producers who had hoped that the move to legalize recreational cannabis in Germany would open up the EU’s largest economy to international cannabis trade.

Even if Germany had found a way to allow recreational cannabis imports, international drug-control treaties that prevent the shipment of cannabis across borders would have made trade with foreign producers nigh impossible.

Lauterbach said in October 2022 that the plan was for Germany to cultivate and harvest all the crop in the recreational cannabis market without any reliance on foreign marijuana producers. A previous statement from the German government stated that the legislative process for recreational cannabis legalization would only continue if the EU approved the adult-use measure.

If the European Commission approves the blueprint, other countries in the EU could use it as a guide if they decide to follow Germany and legalize recreational marijuana.

The legalization of marijuana comes with several direct and indirect benefits, such as creating markets for the products made by numerous ancillary entities such as Advanced Container Technologies Inc. (OTC: ACTX) serving cannabis industry companies.

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

About CNW420

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

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420 with CNW — Synthetic Cannabinoids Drive Wedge Between Hemp, Marijuana Industries

Gold Spectrum, a hemp company based in Tennessee, is the most recent company to introduce a new line of edibles called Delta 8+ THC-O Cereal Bars, widening the rift between the hemp and marijuana industries. Since the 2018 farm bill’s passage, delta-8 THC has gained widespread acceptance as a marijuana substitute in states where it is illegal, including Tennessee.

THC-O is a relatively recent discovery; it is a synthetic cannabinoid produced through chemical synthesis that packs an intoxicating punch. It is also not covered by the farm bill such as naturally occurring cannabinoids derived from hemp.

However, a growing number of states, including Utah, Connecticut and Virginia, have taken action to ban intoxicating cannabinoids derived from hemp, such as THC-O and other THC isomers, including delta-10 and delta-6 THC.

The standoff draws attention to the numerous new cannabinoids that have been released onto the market and the difficulties in regulating access to them. Additionally, it emphasizes the gulf and escalating hostility between licensed marijuana businesses and the widely unregulated hemp industry, where businesses are peddling intoxicating goods containing an expanding variety of synthetic cannabinoids derived from hemp.

On one end, manufacturers and sellers of cannabinoids derived from hemp contend that the farm bill protects their goods and entitles them to unrestricted sale in states with no such laws. On the other hand, the scientific community, consumer watchdogs and regulated marijuana businesses are raising concerns about the safety of synthetic cannabinoids and the confusion they are causing in the market.

Federal authorities have mostly shied away from the matter. In January, the Food and Drug Administration announced that it would not regulate CBD-containing products, deferring instead to Congress, where partisan gridlock has prevented cannabis reform from moving forward to date.

Brightfield Group, a Chicago-based marijuana analytics company, predicts that sales of cannabinoid products will surpass $2.3 billion in 2023 and could double by 2027. However, the forecast failed to account for current state policy limitations or the uncertainty surrounding the potential scope of the proposed changes to the farm bill.

Some policy experts and industry insiders believe that the extensive legislation — renewal of the 2018 farm bill — may help to clear the air regarding new cannabinoids, concentration levels and restrictions. It’s interesting to note that over the past few years, fewer people are buying CBD goods online, while sales at vape and smoke shops have significantly increased, possibly as a result of the increased number of CBD stores in small towns, big cities and everywhere in between.

According to Brightfield, 17.5% of consumers bought CBD goods online in the last quarter of 2022, a decrease from 50.6% during the corresponding period in 2020. In contrast, 33.4% of consumers made purchases at smoke and vape shops in that same period, an increase from 19.1% in 2020.

Away from the feud between recreational marijuana and the hemp industry, there is a growing number of companies such as India Globalization Capital Inc. (NYSE American: IGC) that are working to see cannabis-based formulations approved by the FDA and other regulatory agencies overseeing the health sector in different countries.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital 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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Tracking Proprietary Path to Drug Delivery Innovation and Commercialization on Robust R&D Programs

  • Lexaria Bioscience is a global innovator in drug delivery platforms
  • The company has been developing and commercializing patented DehydraTECH(TM), a technology that has been shown to increase the bioavailability of fat-soluble active molecules, improve the speed of onset and provide other benefits across multiple applications
  • Lexaria has undertaken numerous R&D programs in an effort to build relationships with prospective corporate partners to out-license the technology or to form other profitable corporate relationships
  • The company owes its achievements to its focus on R&D and the guidance provided by its highly experienced leadership, including CEO Chris Bunka, President John Docherty, as well as a dedicated and active board of directors

Lexaria Bioscience’s (NASDAQ: LEXX) path to becoming a global leader and innovator in drug delivery traces its origins to 2014, when CEO Chris Bunka redirected the company to its current business, focusing on the research and development (“R&D”) of the delivery of lipophilic active molecules based on its patented DehydraTECH(TM) technology. Protected by 28 granted patents worldwide, with many more pending around the world, the technology can lay claim to the potential of disrupting the drug delivery space as it is known today.

Typically, a drug delivery system is a formulation or a device that enables the introduction of a therapeutic substance into the body. It is specifically designed to improve the substance’s efficacy and safety by controlling the rate, time, and place of release of drugs in the body. Over the years, drug delivery scientists have been on a quest to improve the existing systems, leading to the introduction of nanoparticles, emulsifiers, and microalgae-based oral microcarriers  (https://cnw.fm/pOxn6), just to name a few.

This quest is informed in large part by the shortcomings of existing systems. And as Lexaria has established, these systems are not particularly effective at delivering as much of the drug as possible into the bloodstream for use by the body; to put it more technically, they have low bioavailability. Additionally, the company has observed that drugs, especially fat-soluble active pharmaceutical ingredients (“APIs”), take a considerable time to start working when delivered using the existing systems.

In light of the evident shortcomings, Lexaria has been developing DehydraTECH, a platform technology that enhances the performance of several categories of fat-soluble active molecules and drugs across oral and/or topical formats. DehydraTECH, the company explains on its website, is an additional step that is easily and seamlessly incorporated into the formulation and manufacturing process of existing or new products.

“This step involves mixing the active ingredients as a delivery ‘payload’ together with certain fatty acids, infusing the mixture into a substrate material, and then using controlled dehydration synthesis processing to associate the payload and fatty acids together at a molecular level, before integrating the newly combined molecules into end-product production across a range of dosage form factors,” the website continues (https://cnw.fm/1ENF0).

The result? The improved and more rapid absorption of active molecules into the bloodstream and brain tissue. This benefit, according to Lexaria, stems from the fact that DehydraTECH works symbiotically with existing physiological systems, thus enabling better bioavailability and bio-absorption. Another result is that fat-soluble molecules processed using the DehydraTECH technology become masked to oral and olfactory receptors, rendering them mostly flavorless and odorless.

Since 2014, Lexaria has undertaken multiple R&D programs covering such DehydraTECH-processed active molecules as nicotine, cannabidiol (“CBD”), and antiviral drugs (https://cnw.fm/68qUh). These initiatives have not only proven the above results to be true but also opened up additional commercialization opportunities.

“Our applied R&D is paying off in spades because we are currently in active discussions with several multi-billion dollar companies around the world, for the potential use of Lexaria’s DehydraTECH technology in their commercial product pursuits,” Bunka wrote in the annual CEO letter to shareholders published January 2023 (https://cnw.fm/CYLvm). “It is a direct result of our positive R&D programs that, as 2023 begins, we are actively involved in several sets of ongoing discussions and due diligence proceedings with potential corporate partners with a goal of collaboration, DehydraTECH out-licensing, or other corporate relationships.”

Additionally, the company is working toward an Investigational New Drug (“IND”) application that will seek FDA’s approval to undertake Phase 1(b) registered trial evaluating DehydraTECH-CBD as a potential treatment for hypertension. The study, which will seek to uncover the safety and tolerability of the formulation, is expected to begin this year.

Lexaria’s accomplishments so far can be attributed largely to the guidance of CEO, Chairman and Director Chris Bunka, President and Director John Docherty, and the company’s board of directors with members who have decades of experience in public and private businesses.

For instance, Dr. Catherine C. Turkel, Pharm.D, Ph.D., has over 20 years’ experience as an executive in startup and mid-size pharma or biotech companies. Having previously served as Founder and CEO of Nezee Therapeutics and President and R&D Head at Novus Therapeutics, since renamed Eledon Pharmaceuticals (NASDAQ: ELDN), she has formulated registration and commercial strategic plans and spearheaded global development programs for pharmaceutical and biologic treatments from phase 1 through phase 4 (https://cnw.fm/Lq14l).  Her experience will, therefore, be invaluable as Lexaria conducts its planned FDA clinical trials.

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)

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India Globalization Capital Inc. (NYSE American: IGC) Reports Triple-Digit Revenue Growth, Phase 2 Study Highlights in Q3 2023 Report

  • Net revenue increased 133% to $332,000 in the three months ended Dec. 31, 2022, the company reports
  • Corporate highlights included expanded trial sites, enrollment for phase 2 IGC-AD1 study
  • Commencement of study marks milestone in IGC’s progress toward gaining FDA approval for proprietary treatment

In a fragile economic environment, the third-quarter 2023 financial results reported by India Globalization Capital (NYSE American: IGC) are particularly remarkable. The company, which is pursuing effective treatment for Alzheimer’s patients suffering with agitation and other neuropsychiatric symptoms, released a report showing an increase in net revenue of 133% for the three-month period ending Dec. 31, 2023, and an increase in net revenue of 175% for the nine-month period ending the same day (https://ccw.fm/a2EnL).

“Net revenue increased 133% to $332,000 in the three months ended Dec. 31, 2022, compared to $142,000 in the three months ended Dec. 31, 2021,” the company reported. “Net revenue increased 172% to $745,000 for the nine months ended Dec. 31, 2022, compared to $275,000 for the nine months ended Dec. 31, 2021, driven mainly by the company’s life-science segment, which includes, among others, natural products targeting women with premenstrual syndrome (‘PMS’), period pain and sleep disorder.”

The report also noted corporate highlights for the quarter, two of which are related to the company’s phase 2 clinical trial evaluating IGC-AD1 for agitation in dementia from Alzheimer’s disease. The report stated that the number of sites participating in the trial has expanded to a total of four — three in the United States and one in Canada — and that the trial will enroll 146 patients, with one-half of the participants receiving a placebo and the other half receiving IGC-AD1.

“The company is encouraged by the patient enrollment and interest from many of the leading research centers and has decided to increase the number of trial sites to between 10 and 12 from the originally planned four to five,” the company observed. “This will help accelerate the timeline for completion and diversify the patient demographics.” The goal of the trial, the company went on to explain, is to evaluate and establish over a six-week period the efficacy of IGC-AD1 in treating agitation in dementia from Alzheimer’s disease.

 “We are delighted with the progress made during this quarter, highlighted by the commencement of the phase 2 clinical trial for our drug candidate IGC-AD1 for the safety and efficacy of the drug on agitation in dementia due to Alzheimer’s disease,” said IGC CEO Ram Mukunda. “This represents a milestone in our progress towards gaining FDA approval for IGC-AD1, which we believe has the potential to revolutionize the treatment of Alzheimer’s disease as the first and only low-dose, natural, THC-based candidate currently undergoing FDA trials.

Moreover, our sales of natural products, which include gummies and pain relief creams, are seeing increased traction in the market,” he continued. “We’re encouraged by our third quarter results and look forward to driving continued expansion through the balance of fiscal 2023.”

IGC develops advanced cannabinoid-based formulations for treating diseases, including but not limited to Alzheimer’s disease, Parkinson’s disease, chronic pain and pet seizures. The company sells various brands of CBD-based consumer products, including Holief, which includes gummies and pain relief creams for women experiencing premenstrual syndrome and dysmenorrhea (period cramps). The company operates facilities in the United States under Good Manufacturing Practices.

For more information, visit the company’s website at www.IGCPharma.com.

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

About CannabisNewsWire

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

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

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Adult-Use Cannabis Demand Exceeds Projections in Missouri

Since Missouri dispensaries started selling marijuana for recreational purposes more than a month ago, demand has outpaced expectations. In November 2022, a measure allowing for recreational cannabis sales was approved, opening the door for the establishment of dispensaries in the state.

Marijuana sales reached $102.9 million in February, with recreational sales accounting for $71.7 million of the total. The first weekend of sales brought in $13 million. In addition to experiencing astronomical sales and customer numbers in its first month, Missouri has seen a nearly 50% increase in the wholesale price of marijuana flower. According to LeafLink — a wholesale cannabis platform that links distributors and retailers — the state is the only top 20 market by size experiencing a shortage rather than a surplus since the demand is outpacing expectations.

LeafLink cites two elements as the causes of Missouri’s recent success. First, the program’s design made it possible to license the already-existing medical businesses, creating almost immediate retail opportunities. Secondly, Missouri borders noncannabis-selling states, and Illinois, the only bordering state with recreational marijuana, has a lot more expensive goods and high taxes.

The Missouri Cannabis Legalization Movement’s founder, Tim Gilio, claims to have noticed a noticeable impact on dispensaries, with lines getting longer and items disappearing from shelves as supplies completely run out. Unfortunately, medical cannabis users are being affected by this because recreational users outnumber the patients.

3Fifteen Primo owner Jason Corrado claimed to have observed serious supply issues at dispensaries that were unprepared for the approval of amendment 3. In Corrado’s opinion, the best way for stores to meet demand is by being in touch with various suppliers. He claims that his extensive network of supplier connections has helped to keep a steady supply in all 3Fifteen Primo locations, urging others to follow suit.

The problem, however, is the limited number of cannabis cultivators in the state since DHSS set a limit on grower licenses to 60. Demand is much higher than even they anticipated, according to Gilio; otherwise, growers would have produced more over the previous year.

But will Missouri run out of marijuana with the high demand? Most likely not.

According to Illicit marketing vice president David Craig, most growers ramped up production when amendment 3 passed in November. Illicit and the majority of cultivators operated below capacity during the medical-only program. These brands have currently filled all the available space.

A marijuana product still needs to be produced for four to five months before it can reach the final consumer, thus the gaps in the supply will be filled by the end of April.

The skyrocketing demand for recreational cannabis could open a wider market for companies, such as Advanced Container Technologies Inc. (OTC: ACTX), which “sell shovels during a gold rush” as they serve firms directly dealing in marijuana or its derivatives.

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 — Florida House Committee Approves Bill Allowing Telehealth Medical Cannabis Certification

A Florida House Committee has unanimously approved a measure that would allow the use of telehealth in certain aspects of cannabis treatment. Bill HB 387 would make it possible for doctors to use telehealth to renew their patients’ medical cannabis approvals. According to sponsor Rep Spencer Roach, the bill would treat medical cannabis like any other pharmaceutical.

Venice-based physician Dr. Barry Gordon told the House Health Care Regulation Subcommittee before the vote that leveraging telehealth to renew medical cannabis certifications would benefit the most vulnerable Floridians.

As dozens of states have legalized marijuana for medical use, millions of people across the country have signed up for medical cannabis access. A large portion of these medical cannabis patients (32.5%) are aged 50 to 64 years of age, and medical cannabis use among older people has been steadily increasing as the drug loses its stigma.

Cannabis is also effective against conditions that tend to affect older people, including chronic pain from arthritis, insomnia, mood disorders and cancer-related symptoms. In the wake of the coronavirus pandemic, several states across the United States approved cannabis home delivery to protect vulnerable and immunocompromised patients and limit their exposure to infection.

Gordon, who specializes in medical cannabis treatment, noted that medical marijuana patients tend to be the weakest and most debilitated in Florida. The new bill is meant to protect such patients from potential exposure to diseases on top of reducing treatment costs for patients.

Florida law currently requires that doctors must be “physically present in the same room as the patient” to conduct a physical examination and provide a medical cannabis prescription. Although Governor Ron DeSantis suspended this requirement temporarily during the pandemic, it was only available for patients who were renewing their certifications at a physician they had seen before.

Some physicians have continued to use telehealth in medical cannabis treatment even though the governor’s order expired in mid-2021.

If the measure is signed into law, it will give the Department of Health the power to ban physicians from providing and renewing medical cannabis certifications for up to two years if they “provide, advertise or market” medical cannabis telehealth services before July 1, 2023.

Roach noted that the Department of Health is currently required to pass complaints regarding medical marijuana physicians to its Division of Medical Quality Assurance, which can be quite a long process. His measure would provide the state agency with a “necessary and immediate tool” to help it deal with doctors who break medical cannabis rules.

As the users of medical marijuana increase by the day, another noteworthy trend is the increasing amount of R&D work being undertaken by for-profit entities such as India Globalization Capital Inc. (NYSE American: IGC) in a bid to commercialize pharmaceutical-grade. cannabis-based formulations that meet the strict requirements of the FDA.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital 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 — Bill Targeting Illicit Marijuana Grows Designed to Safeguard Users from Pesticides

A bipartisan pair of congressional lawmakers has refiled a draft law meant to address the growing problem of illicit cannabis plantations on federal land. The lawmakers framed the legislation as a much-needed tool for the government to rein in illegal cannabis grows that are polluting the environment and risking marijuana consumers’ health.

Although dozens of states have launched medical and recreational cannabis markets, America’s illicit cannabis market is still thriving. Licensed sellers struggle to compete with the illicit market as high taxes, and rigid rules have made legal cannabis several times more expensive than black-market marijuana.

As a result, the illicit market regularly outsells the legal market by a wide margin, robbing states of tax revenue and feeding billions of dollars into the criminal enterprises behind the illicit cannabis market. Furthermore, illegal cannabis grows often use toxic banned pesticides and herbicides, which can leach into the ground and contaminate water sources. Cannabis consumers who use illicit cannabis also face the risk of contamination and adverse health effects from consuming low-quality or contaminated cannabis.

The Targeting & Offsetting Existing Illegal Contaminants (TOXIC) Act is about environmental protection and consumer safety, said Representative Scott Peters. He noted that no consumer should unknowingly take cannabis that is adulterated by dangerous pesticides and stated that he and Representative Doug LaMalfa tabled what was known as the Toxic Act to combat the scourge of illegal cannabis grows on federal land.

For years, reform advocates have argued that the best way to reduce the risk of consuming contaminated cannabis products and ensure consumer health is to launch regulated marijuana markets that subject products to standardized testing and compliance policies.

Illicit sellers don’t comply with any testing or compliance protocols. While this allows these sellers to price their products much cheaper compared to legal cannabis, it significantly increases the risk of entering contaminated products into the market and harming consumers.

Peters also noted that these illicit cannabis grows don’t just impact the end user; they also endanger several species and put the Forest Service agents tasked with clearing federal lands at risk of contamination.

Both LaMalfa and Peters represent California, which is home to the one of largest illicit cannabis markets in the United States ($8.7 billion in 2019). Their bill would provide the U.S. Forest Service (USFS) with funding of up to $250 million over a five-year period to increase penalties for people who use banned dangerous pesticides and to remediate areas where these pesticides were used.

If more of these illicit cultivators became licensed participants in the regulated cannabis market, they could benefit from new technologies such as the microgardens sold by Advanced Container Technologies Inc. (OTC: ACTX) to grow cannabis in an environmentally responsible way.

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 — Congressional Lawmakers Want Cannabis Scheduling Review More Transparent

On March 9, 2023, a group of nonpartisan Congress legislators penned a letter to senior Biden administration figures asking for transparency on the president’s ongoing review of marijuana’s legalization. A draft of the letter was recently distributed by Rep. Earl Blumenauer (D-OR) among Congress for signatures before being sent to Xavier Becerra, secretary of Health and Human Services (HHS), and Merrick Garland, United States attorney general.

According to the letter’s content, Biden’s scheduling directive presents a chance to evaluate the causes and effects of federal law in an open-minded manner. It also states that cannabis scheduling was based on prejudice rather than science and that it is time to face the fact that cannabis is currently a state-regulated drug.

The legislators stated that administrative descheduling would not absolve Congress of its duty to enact comprehensive federal marijuana reform owing to the fact that there have been numerous well-considered reform proposals presented in previous sessions. All of these bills and proposals, according to the letter, aim to honor the state-led initiative that has been going on for 50 years to reexamine marijuana policy in the context of the failed and prejudiced war on drugs.

There are 16 signatories to the letter, including Representatives Lou Correa, Barbara Lee, Nancy Mace, Mark Pocan, Dina Titus, Bonnie Coleman, Eleanor Holmes Norton, Val Hoyle, Donald Payne, Sydney Kamlager-Dove, Jim McGovern, Nikema Williams, Jan Schakowsky and Jared Huffman, as well as Blumenauer, cochair of the Congress Marijuana Caucus.

In the meantime, Becerra responded to another letter addressed to President Joseph Biden in December about the need for the government to acknowledge the benefits of cannabis descheduling and adopt a firm stance. The response letter was sent to lawmakers, including Lee and Blumenauer.

Instead of responding to the lawmakers’ main request, the HHS office merely reaffirmed the department’s responsibility for conducting the marijuana review and concluded by stating that the Drug Enforcement Administration (DEA) makes the ultimate decision following the completion of a comprehensive scientific analysis.

In a separate statement, the attorney general said that the Department of Justice is still drafting a cannabis policy while awaiting the scientific review’s findings from different health agencies.

On the other hand, Biden has often touted his marijuana scheduling order and pardons in the past few months, with his most recent proclamation made at a celebration marking the conclusion of African American History Month.

The outcome of the ongoing scheduling review could have widespread impacts on various companies, such as India Globalization Capital Inc. (NYSE American: IGC), that are seeking to develop medicines from cannabis compounds such as THC.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital 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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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Moving Closer to Providing Alternative Hypertension Treatment with DehydraTECH(TM)-CBD

Lexaria Bioscience Corp. (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently reported additional findings from its most comprehensive clinical study yet, HYPER-H21-4. “The findings showed that DehydraTECH-CBD resulted in a statistically significant reduction in average baseline serum catestatin concentrations of 13.50 ng/mL to just 9.65 ng/mL after five weeks of dosing, representing a 28.5% drop. In addition, mean arterial pressure significantly dropped by 4.26 ± 1.26 mm/Hg following the five weeks of DehydraTECH-CBD dosing. No statistically significant reductions in catestatin concentrations were identified in the placebo group,” a recent article reads. “Given the growing demand for alternative anti-hypertensive treatments and therapies, Lexaria recognizes an opportunity and seeks to fill it. These latest results from its ambitious HYPER-H21-4 study inch the company closer to achieving that goal, ultimately becoming a leader and tapping into a pharmaceutical market that is set to be valued at $34 billion by 2030. Lexaria’s management is optimistic that DehydraTECH-CBD and its effectiveness in modulating catestatin levels could become a significant value enhancer should it eventually enter the marketplace as an approved hypertension treatment.”

To view the full article, visit https://cnw.fm/G4QpC

About Lexaria Bioscience Corp.

Lexaria’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 bio-absorption 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 28 patents granted and many patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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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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