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

CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH(TM) Improves Product Performance Across Multiple Categories

Lexaria (NASDAQ: LEXX) is a global innovator in drug delivery platforms. “The company’s patented DehydraTECH(TM) technology enhances the performance of multiple categories of fat-soluble active molecules and drugs available in various formats, including oral ingestible, oral buccal/sublingual and topical products. According to Lexaria, its technology ‘is best thought of as an additional layer that improves the effectiveness of existing or planned new products for companies that offer consumer supplements, prescription and non-prescription-based drugs and nicotine products,’” a recent article reads. “When analyzed in terms of numbers, the improvements are impressive. Having conducted both in vitro and in vivo studies, Lexaria has established that DehydraTECH increases intestinal bioabsorption of certain bioactive compounds by as much as 27 times. Furthermore, given the technology increases the quantity of each active ingredient delivered to the blood plasma and brain, it reduces the need for high doses, ultimately contributing to lower overall drug costs, as lower doses can still achieve the same or even better results. In addition, the technology works rapidly, with the DehydraTECH formulations’ effects becoming prominent in as little as 1.5 minutes post-administration. Other benefits include masked taste and smell of the active molecules, which has the intended effect of helping manufacturers create low-sugar products with fewer calories and avoid using artificial sweeteners.”

To view the full article, visit https://cnw.fm/m5hjA

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective 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 roughly 50 patents pending worldwide. 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 SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsWire (CNW)
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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Virginia’s Recreational Marijuana Launch Stalls Indefinitely

Less than two years after Virginia set out to be the first southern state to legalize the sale of adult-use cannabis, the state’s anticipated start date of Jan. 1, 2024, has been essentially canceled. Governor Ralph Northam approved the legislation in April 2022, making it legal for Virginia residents to own and grow up to four cannabis plants. Additionally, it mandated that recreational sales start by Jan. 1, 2024.

However, the law also mandated that the assembly later reenact several of the legislation’s provisions, including specifications on regulation and market structures such as licensing. The chances of those laws passing were reduced after the state’s election in November 2021 when Republicans took control of the governor’s office and the House of Delegates (HOD).

Two marijuana regulatory bills sponsored by Republicans that would have established a licensing system in time for sales to start in 2024 were dropped on in January by a House of Delegates’ GOP-controlled subcommittee. At the start of February, Senator Adam Ebbin introduced a comparable bill in the Senate, but it was rejected by the same committee. Multiple sources claim that Governor Glenn Youngkin’s efforts to stop all adult-use marijuana legislation were a major factor in the bills’ failure to pass.

Republicans also prompted a proposal to cut nearly 70% of the Cannabis Control Authority’s budget.

There isn’t any time left on the legislative calendar for an alternative to be introduced since the state’s part-time assembly only assembles in regular session for 30 days in uneven-numbered years. Saturday, Feb. 25, 2023, was the last day for this year’s meetings.

The main multistate operators who hold some of the state’s current medical marijuana permits, as well as potential new operators, are forced to hold back now that adult-use marijuana regulation is canceled for the year.

Alternatives from the black market, such as illegal pop-ups and storefronts, have popped up all over the state in the absence of legal adult-use retailers.

This, combined with the abundance of untested goods containing delta-8 tetrahydrocannabinol (THC) derived from hemp, results in a situation that both Virginia Democrats and Republicans have referred to as a health crisis.

Industry observers and activists claim that legislators, including those in the subcommittee where several bills were put down in the past few days, received clear instructions from the governor not to promote adult-use marijuana bills this year. Youngkin is eyeing the Republican presidential nomination next year. He is advocating for legislation that would strictly control cannabinoids derived from hemp.

As the lawmakers put the prospect of opening a recreational cannabis market in the state, they are unwittingly killing lots of opportunities that would have come to residents. For example, some may have turned to companies such as Advanced Container Technologies Inc. (OTC: ACTX), a provider of indoor “microgardens” for people interested in growing their own cannabis at home.

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)

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420 with CNW — Research Suggests CBD May Curb Nicotine Cravings

Cannabidiol (CBD) may be able to help cigarette smokers quit the habit by curbing nicotine cravings. Scientists at Washington State University recently published a study indicating that the cannabinoid reduced nicotine cravings by inhibiting an enzyme that is associated with nicotine processing.

CBD is part of a class of compounds called cannabinoids that are produced by plants in the cannabis family. But unlike THC, the cannabinoid that gives cannabis its psychoactive effects, cannabidiol has no psychoactive properties. Research has instead revealed that CBD has potent medicinal properties that can be effective against a wide variety of medical conditions.

This recent study looked at how CBD affected the metabolism of nicotine, the compound that makes tobacco cigarettes addictive. Researchers found that CBD was able to help tobacco users quit by inhibiting the action of a key enzyme. When senior study author Philip Lazarus and his colleagues analyzed liver tissue and microsomes from specialized cell lines, they discovered that CBD inhibited CYP2A6, a key enzyme in the metabolism of nicotine, as well as several other relevant enzymes.

Prior research has shown that CYP2A6 is responsible for more than 70% of nicotine metabolism in most tobacco users. The cannabinoid inhibited CYP2A6’s processing of nicotine by a whopping 50% even at relatively low concentrations, suggesting a rather strong impact on the enzyme.

Lazarus surmised that you wouldn’t need to take much CBD to see the enzyme-inhibiting effect. By slowing down the metabolism of nicotine, CBD could extend the time a smoker needs before they feel the need to inhale nicotine again; consequently, smokers could end up smoking less often.

Noting that most of the negative effects of smoking come from the chemicals and carcinogens in tobacco smoke, Lazarus explained that minimizing the harm from smoking would undoubtedly be a “great thing for human health.”

With one in five people reportedly dying every year in the United States due to smoking-related illnesses, smoking still presents a significant health problem. Alternative methods of consuming nicotine to avoid smoking, such as snuff, chew and vaping, are just as dangerous and can cause serious illnesses such as cancer.

Lazarus and his team are now working to develop a clinical study aimed at determining the effect of cannabidiol on nicotine levels in tobacco users. The research team hopes to run a larger study on the relationship between nicotine addiction and CBD after that.

The federally funded study was published in the “Chemical Research in Toxicology” journal. It was carried out with the support of the National Institutes of Environmental Health Sciences.

Given how beneficial different cannabinoids are being found to be, it is a pity that companies in the marijuana industry don’t have ready access to traditional banking institutions in order to scale their operations; instead, these companies must scramble for the funding, which is provided by innovative niche companies such as REZYFi Inc.

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

About CNW420

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

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

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

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) to Showcase the Future of Farming at New Oklahoma-Based Facility

Advanced Container Technologies (OTC: ACTX) today announced its relocation to a new 4.5-acre campus in Skiatook, Oklahoma. The new site features a large indoor farming facility, dedicated manufacturing and distribution operations, and classrooms for teaching businesses and individuals how to maximize profits using controlled environment farming. “We are thrilled to be operating in this fabulous new facility,” said Doug Heldoorn, CEO of ACTX. “With this strategic move, we are well positioned to serve the entire Midwest, and can offer businesses, growers and individuals the means and the knowledge on how to grow pristine crops, year round, in a plug-and-play type system that’s perfect both for beginners and for businesses looking to expand without the need of new buildings or expensive real estate.”

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

About Advanced Container Technologies Inc.

Advanced Container Technologies is in the business of selling and distributing self-contained, automated, indoor “micro-farms” called Grow Pods, along with related equipment and supplies. Additionally, the company designs and sells patented proprietary medical-grade plastic containers, known as the Medtainer(R), that store and grind pharmaceuticals, herbs, teas and other solids or liquids. For more information, visit the company’s website at www.AdvancedContainerTechnologies.com.

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

About CannabisNewsWire

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

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

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India Globalization Capital Inc. (NYSE American: IGC) Focused on Fighting Alzheimer’s Disease with First-of-Kind Treatments in Study Phase

  • Government showing strong support for bills aimed at treating Alzheimer’s disease
  • IGC’s leading drug candidate recently completed phase 1 of a safety and tolerability trial, and entered phase 2
  • Company’s proprietary treatments have “the potential to revolutionize the treatment of Alzheimer’s disease”

Key legislation designed to fight Alzheimer’s has been introduced in Congress — or actually reintroduced: the NAPA Reauthorization Act was first introduced in the last Congress but is seeing continued support from the current group of elected officials (https://cnw.fm/xqOnK). Support for the treatment of Alzheimer’s is essential for organizations such as India Globalization Capital (NYSE American: IGC), a company pursuing effective treatment for Alzheimer patients suffering with agitation and other neuropsychiatric symptoms.

“The Alzheimer’s Association and the Alzheimer’s Impact Movement (“AIM”) are proud to support the bipartisan introduction of the NAPA Reauthorization Act and the Alzheimer’s Accountability and Investment Act,” reported a recent Alzheimer’s Association article. “Reintroduced [on Jan. 31, 2023] in Congress, the NAPA Reauthorization Act would extend the National Alzheimer’s Project Act, and the Alzheimer’s Accountability and Investment Act will ensure Congress continues to hear directly from scientists on what resources are needed to prevent and effectively treat Alzheimer’s disease.”

According to the article, the act was first introduced in the 117th Congress, which convened in January 2021. At the time, AIM advocates worked to build bipartisan support for both the NAPA act, eventually landing 65 cosponsors in the House and 27 in the Senate, and the Alzheimer’s Accountability and Investment Act, with 45 cosponsors in the House and 24 in the Senate. AIM representatives noted that they are working to expand that bipartisan progress with the 118th Congress.

“On behalf of the Alzheimer’s community, we thank the Senate and House sponsors for reintroducing these important bipartisan bills to continue the progress we have made in the fight against Alzheimer’s and all other dementia,” said Robert Egge, Alzheimer’s Association chief public policy officer and AIM executive director. “These bills reaffirm our nation’s commitment by helping to secure federal investments in Alzheimer’s research and improve access to better quality care and support services for individuals living with Alzheimer’s and their caregivers. We look forward to working together to pass these bipartisan bills and help improve the lives of those impacted by Alzheimer’s and other dementia throughout the nation.”

AIM isn’t the only organization focused on helping those dealing with Alzheimer’s. IGC’s leading drug candidate, IGC-AD1, recently completed phase 1 of a safety and tolerability trial and entered phase 2 trials. The study, which is the first in humans of a natural low-doses tetrahydrocannabinol (“THC”) compound plus another molecule, is designed to evaluate IGC-AD1 as a treatment for agitation in patients with Alzheimer’s dementia. In addition, IGC has a second drug candidate: TGR-63. An enzyme inhibitor, TGR-63 has shown the potential to reduce neurotoxicity in Alzheimer’s cell lines.

Both drug candidates have shown their ability to ameliorate beta amyloid plaques in Alzheimer’s cell lines and improve memory in Alzheimer’s mouse models. Beta amyloid plaques are a key hallmark of Alzheimer’s and an important target of Alzheimer’s pharmaceutical drug development.

“We believe that IGC-AD1 has the potential to revolutionize the treatment of Alzheimer’s disease as the first and only low-dose natural THC-based formulation candidate currently undergoing FDA trials,” said IGC CEO Ram Mukunda (https://cnw.fm/Sjy1R). “Approximately 8 million people are affected by Alzheimer’s in North America and over 55 million worldwide. We believe the diverse population we have selected for this study will allow us to accurately look at both the impact of variations of the gene CYP2C9 that metabolizes THC, as well as APOE e4 a gene that increases the risk of developing Alzheimer’s.

“This data will help us to further understand the metabolism of IGC-AD1 for a diverse population, which is important in treating a disease that has a global impact like Alzheimer’s,” he continued. “Through these and further trials, we look forward to establishing IGC-AD1’s efficacy in treating the symptoms related to Alzheimer’s disease.”

IGC develops advanced cannabinoid-based formulations for treating diseases, including but not limited to Alzheimer’s disease, Parkinson’s disease, chronic pain and even 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), and Sunday Seltzer, which includes a CBD-infused energy beverage. 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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
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www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Lexaria Bioscience Corp. (NASDAQ: LEXX), a Global Innovator in Drug Delivery Platforms, Holds Discussions With Several Larger Companies on Path to Commercialization of DehydraTECH(TM) Technology

  • Lexaria’s patented DehydraTECH(TM) technology increases bioavailability, improving the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery, helping with speed of onset, and brain absorption of active pharmaceutical ingredients
  • The company out-licenses the use of its patented DehydraTECH(TM) technology within the pharmaceutical industry and consumer sectors
  • Lexaria has focused on applied R&D to establish areas of investigation for commercial pursuits, with its programs proving successful
  • Additionally, Lexaria has a robust intellectual property portfolio with 28 patents granted worldwide as of February 2023

In 2022, Lexaria Bioscience (NASDAQ: LEXX), a global innovator developing and commercializing its patented DehydraTECH(TM) drug delivery technology, achieved several important goals for the year, according to CEO Chris Bunka.

“One of our biggest achievements of 2022 was our greater emphasis on commercial pursuits,” Bunka wrote in his January 2023 letter to shareholders (https://cnw.fm/gm32a). This saw the company acquire new customers, among them Premier Wellness Science Co. Ltd. of Japan, its first client in Asia, BevNology LLC (https://cnw.fm/Dde14), and AnodGen Bioceuticals (https://cnw.fm/biO1A).

This year, the company is continuing and/or initiating discussions with several larger companies in Europe and North America regarding the licensed use of its DehydraTECH technology for both consumer and pharmaceutical sectors. And while Lexaria is not at liberty to go into details, its approach to commercialization has been strategic.

Strategic partnerships involving small to mid-sized biotech as well as large pharmaceutical companies are not new. As reported in a recent article in LabioTech, such partnerships are a better way to build a product’s capabilities and value than outright acquisitions (https://cnw.fm/ePvLU). Additionally, these collaborations provide access to Big Pharma’s infrastructure, resources, and expertise, depending on the terms of the agreements, which can substantially reduce risk.

However, the materialization of such partnerships hinges on a number of must-haves. Firstly, there must be a tangible product that draws larger companies. Secondly, the article observes, “The decision of whether or not to invest, and the scale of any investment, is based on how well the technologies that form the core of a company have been protected. This is where patents come in.” Moreover, the clinical development timeframe also matters, with the article noting that “The further a company can take its own research, the better the deal that will be offered in terms of upfront payments, milestone payments, and royalties.”

Lexaria ticks all these boxes. Its unique technology – DehydraTECH  – is not only tangible but has also been shown to enhance the performance of several categories of fat-soluble active molecules and drugs across various oral and topical product formats. The technology is also protected by a robust portfolio of 28 patents granted worldwide as of February 2023. The patents cover method-of-use, composition-of-matter and medical treatment claims for a wide range of active pharmaceutical ingredients (“APIs”), including, but not limited to, cannabidiol (“CBD”), antiviral drugs, vitamins, nicotine, and NSAIDs. Additionally, Lexaria has many more patents pending around the world.

Lastly and perhaps most importantly, Lexaria has substantially invested in research and development (“R&D”), an aspect of its operations that is 100% within its control. According to Bunka, the company has designed its applied R&D to boost its commercial prospects, and this “is paying off in spades,” as it has, among others, “yielded almost entirely positive results.”

In 2022, the company’s top priority was to develop its DehydraTECH-processed CBD hypertension program. The program’s fifth and most comprehensive human clinical study, the HYPER-H21-4, has proven a success. Firstly, the study showed that DehydraTECH-CBD was exceptionally safe, had a high tolerability profile, resulted in a statistically significant decrease of 24-hour ambulatory blood pressure (“BP”), and lowered BP throughout the entire 5-week duration of the study (https://cnw.fm/uhdwV).

Subsequent results showed that DehydraTECH-CBD achieves better human blood absorption levels at lower doses than non-Lexaria CBD formulations (https://cnw.fm/hjegk). The study also helped Lexaria discover a novel mechanism of action of the DehydraTECH-CBD capsule formulation in reducing BP (https://cnw.fm/3MX9W). Other applied R&D programs include an oral nicotine program, wherein dosing began late last year, and separate studies evaluating the effect of DehydraTECH-CBD on seizure disorders, diabetes, and dementia.

Lexaria continues to develop appeal to potential collaborators, and its R&D serves as evidence of the resolve to attract investments and partnerships from larger companies.

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 — Iowa Legislators File Adult-Use Cannabis Legalization Bill

On Feb. 21, 2023, Iowa Democratic legislators introduced a bill that would permit adult-use cannabis for recreational purposes. The proposed legislation would make it legal for adults 21 years and older with valid identification to possess cannabis with up to 500 milligrams of THC, the main psychoactive ingredient in cannabis. The legislation, which has yet to be formally brought to the House, also establishes a tax on authorized cannabis sales and lays the groundwork for regulated commercial marijuana sales.

According to House Democratic Leader Jennifer Konfrst, Iowans of all political persuasions have voiced their strong support for legalizing marijuana, and thus the legislation was not focused on politics but on the needs of the people. Additionally, she stated that the legislation was an opportunity for lawmakers to put differences of opinion aside and work cooperatively to accomplish a goal that the majority of Iowans share.

The measure also changes the classification of marijuana possession of up to a half ounce from a criminal offense to a civil offense, eliminating the criminal penalties. Additionally, the bill expunges convictions for nonviolent cannabis possession convictions and minimizes other possession convictions from felonies to infractions.

It gives the state’s Alcoholic Beverage Division (IABD) control over the marijuana market and permits regulated companies to distribute and produce cannabis through authorized dispensaries. To monitor regulated marijuana products and aid in preventing their diversion to the black market, the division is also mandated by the bill to implement a production-to-sale system for tracking.

The proposal to legalize marijuana imposes a 10% tax on commercial marijuana products, with the proceeds going to public safety organizations, schools and mental health institutions. County governments would also be allowed to add a 1% surcharge to local and state taxes.

According to Konfrst, legalizing cannabis in Iowa would prevent the tax revenue from being sent to neighboring states that have legalized the drug. Michigan and Illinois, which border Iowa, both permit the use of recreational cannabis.

According to a 2021 Des Moines Iowa poll, 54% of Iowans support legalizing marijuana for recreational use. Despite the overwhelming support, the legislation is unlikely to be passed by the GOP-controlled legislature. Republican Party leaders stated last month that they do not anticipate cannabis legalization legislation to pass this year. Steve Holt, the House Judiciary Committee chair, stated last year that while there is a need for disincentives in the law, he would not support the legalization of marijuana.

Meanwhile, some entities, such as India Globalization Capital Inc. (NYSE American: IGC), aren’t waiting for cannabis prohibition to be ended countrywide. Instead, they have opted to take their products through the preclinical and clinical development process so that the FDA and other regulators can give those formulations the nod for use by patients with the ailments they target.

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.

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

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Voters in Oklahoma to Decide Whether to Legalize Recreational Marijuana

Voters in Oklahoma are on track to vote on legislation that would legalize recreational cannabis in the state. On March 7, 2023, Oklahomans will get the chance to vote for or against state question 820, which asks if voters would like to expand the state’s medical cannabis industry to include adult-use cannabis.

If Oklahomans vote in favor of the measure, Oklahoma will become the 22nd  state in the nation to put a stop to marijuana prohibition.

The measure comes close to five years after Oklahoma residents turned out in record numbers to vote in favor of legalizing medical cannabis. Activists behind the legislation had tried to place the adult-use cannabis issue on the November 2022 ballot, but their efforts were unsuccessful after complaints at the Supreme Court caused them to miss deadlines.

In mid-October, Governor Kevin Stitt issued a proclamation stating that Oklahomans would get to vote on cannabis legalization during a special election in March.

State question 820 would make it legal for adults aged 21 years old and over to purchase and possess up to an ounce of marijuana. Adults would also be allowed to grow up to six seedlings and six mature cannabis plants at home for personal use. The Oklahoma Medical Marijuana Authority would be charged with regulating the new adult-use industry as well as issuing businesses with recreational cannabis licenses.

Recreational cannabis sales would be subject to a 15% excise tax, and the revenue generated from the tax will be put into an Oklahoma Marijuana Revenue Trust Fund. Once regulators have earmarked a certain percentage of the fund to cover administration costs for the state’s nascent adult-use program, 39% would go to a general fund, 30% to public education grants, and 20% would go to programs for substance misuse treatment and prevention.

Another 10% would go to the State Judicial Revolving Fund while 10% would be divided among the municipalities where cannabis sales took place. The measure would also have provisions to allow people with cannabis convictions to file for reversal of conviction, modification of judgment and sentence, resentencing or dismissal of case.

With around 60,000 Oklahomans currently estimated to have cannabis-related criminal charges on their records, the measure could have a major impact if it passes.

Former Oklahoma representative Ryan Kiesel added that the law would grant law enforcement with new tools to go after the cannabis black markets and illegal players within the state.

Oklahoma senior U.S. Sen. James Lankford, who remains opposed to cannabis legalization, urged Oklahomans to protect their communities and families by voting against the measure.

If this measure gains voter approval, Oklahoma could present additional opportunities to enterprises such as REZYFi Inc. which has focused on stepping up to give cannabis companies the funding they need in an environment where mainstream banks aren’t willing to do business with players in this industry.

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

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 — Alaskan Supreme Court Announces Plan to Expunge Cannabis Possession Criminal Records

The Alaska Supreme Court has announced that it would expunge cannabis convictions from the records of hundreds of Alaskans. An order signed by five Supreme Court justices revealed that the court would remove the cannabis possession convictions of 750 residents from the online court case database.

However, rather than completely expunge certain cannabis records, the court will simply shield them from public view. So while the general public would likely find it hard to see these records, the records will still be accessible for inspection at courthouses and via formal criminal background checks.

Only Alaskans who were aged 21 and older when they were convicted of possession of an ounce or less of cannabis will be eligible for the removal.

Alaska Court System general counsel Nancy Meade said that since cannabis has been legal in the state for eight years, the Supreme Court thought that it was not appropriate for people to suffer the negative consequences of having a conviction attached to their name on Courtview, the state’s online database of court cases.

Now that most states have legalized cannabis in some form, reform activists and lawmakers argue that it is wrong for people with cannabis convictions to continue being penalized for certain cannabis offenses.  A criminal record can significantly impact your life in the United States by making it difficult to access employment, housing and education.

Obscuring, sealing or expunging nonviolent cannabis offenses from people’s records could shield people from the negativity associated with a criminal record and allow them to access critical services such as housing.

Rep. Stanley Wright says that there are a lot of people in his district who are held back by the barriers created by a publicly visible criminal record. A simple policy change or legislation could remove these barriers and change their whole lives, Wright said.

Sen. Scott Kawasaki was happy with the move and stated that he was glad the Supreme Court had ordered the removal of certain cannabis offenses from public view. Wright has joined nearly half a dozen independent and Democratic cosponsors in reintroducing a bill that would conceal cannabis convictions from criminal background searches and Courtview.

Alaska joins a growing number of states that are moving to either obscure or expunge marijuana-related convictions. The National Conference of State Legislatures reports that 41 states in total have passed some form of regulation to obscure nonviolent, cannabis-related convictions.

These actions by the state Supreme Court peel back some of the vestiges of prohibition and send positive signals to allied industry actors such as Advanced Container Technologies Inc. (OTC: ACTX) since increased growth of the industry opens opportunities for these related 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.

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

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — SAMHSA Advisory Warns Users About CBD, Suggests Dispensary-Sourced Products Could Be Safer

The Substance Abuse and Mental Health Services Administration (SAMHSA), a branch of the U.S. Department of Health and Human Services, has released a new advisory warning about the possible side effects, harms, and unknowns of CBD. The federal agency also makes the implication that cannabis dispensaries may sell safer products than gas stations and other stores.

The cannabinoid product has been available on store shelves since Congress approved the use of hemp in the 2018 Farm Act, and SAMHSA reports that demand for it is still rising. According to SAMHSA’s advisory, a variety of form factors, such as CBD-infused foods, topicals, fabrics and drinks, are now available at an estimated 270,000 retail stores countrywide.

According to the advisory, which quotes a survey done by prescription discount plan SingleCare, one in every three Americans reported using cannabinoid products in 2020. As a result of its widespread use, the agency urges that people be aware of the risks and dangers involved with using CBD products as well as the common misconceptions surrounding them.

A majority of the risks mentioned in the study, including inaccurate labeling, poor quality control and low safety standards, are brought on by the fact that CBD products are not federally regulated.

The FDA announced last month that it would not be developing rules to permit the marketing of CBD as a food or dietary supplement despite numerous requests for action from legislators, advocates and other stakeholders to do so. Instead, it declared that it would prefer to work with Congress to find a different course of action. Additionally, the agency denied citizen petitions asking for rulemaking on CBD marketing.

The warning makes no attempt to contrast CBD’s potential side effects with the problems associated with prescription drugs, such as opioids. Various studies have shown that the use of opioids to treat conditions such as chronic pain can be decreased by making regulated marijuana, including CBD products, more widely available.

Epidiolex, a prescription drug made of purified CBD that is meant to treat a rare type of childhood epilepsy, is the only CBD product that has received FDA approval to date. All other CBD products are sold as potential treatments for a range of medical conditions, with only a few having been proven effective through research.

According to survey results from 2019 cited by the agency, 40% of CBD users bought products from cannabis dispensaries. One-third of consumers (34%) received the products from retail locations while 27% bought it online and 12% got it from an undisclosed source.

While marijuana dispensaries are still illegal on the federal level, cannabis retailers, which are typically licensed and subject to strict state regulation, may provide better and more consistent CBD products than those offered by national retailers, according to SAMHSA. However, the organization also stated that depending on the state’s definition of acceptable CBD products, the goods sold at marijuana dispensaries that are not FDA approved may contain more than 0.3% THC.

The medicinal potential of cannabis has drawn the attention of many entities, such as India Globalization Capital Inc. (NYSE American: IGC), which have invested heavily into studying these substances with the aim of commercializing FDA-approved formulations from them.

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.

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
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http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

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