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. (NASDAQ: LEXX) Releases Findings from Hypertension Study

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, is reporting additional findings from its human clinical study HYPER-H21-4; the study is designed to demonstrate a potentially novel mechanism of action of LEXX’s patented DehydraTECH-processed cannabidiol (“CBD”) capsule formulation in the treatment of blood pressure (“BP”). According to the announcement, Lexaria believes that those findings, which were published in the peer-reviewed “Biomedicine and Pharmacotherapy” journal, could support DehydraTECH-CBD qualification within existing Food and Drug Administration (“FDA”) guidelines. Previous results of the study indicated that primary efficacy and safety objectives were successfully achieved, including hypertensive patients seeing resting blood pressure significantly reduced and sustained over the full five weeks of dosing; results also showed that no serious adverse events have been reported during the study.

To view the full press release, visit https://cnw.fm/x0vDT

About Lexaria Bioscience Corp.

Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 28 patents granted and many patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.

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

About CannabisNewsWire

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

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

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

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REZYFi, Inc. Stands Ready to Provide Much-Needed Capital to Cannabis Companies as Softening Mortgage Rates Boost Opportunities for Refinancing

  • REZYFi is a real estate-oriented mortgage company servicing the needs of licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies
  • The average rate on a 30-year-fixed-rate mortgage, measured weekly, has been declining gradually since October last year, increasing the market for new and refinanced mortgages
  • Mortgage refinancing can be a source of capital, presenting an important financing opportunity for business operators in the cannabis space who struggle to access money from traditional banks

In the months since the US average rate on a 30-year-fixed-rate mortgage peaked at more than 7.10% in October last year, the value has been gradually declining. According to Freddie Mac’s weekly mortgage rate survey, the average rate stood at 6.12% as of February 9, 2023, a slight increase from the 6.09% average recorded a week earlier on February 2, 2023 (https://cnw.fm/emPrr). This general softening has had a ripple effect.

Data from the Mortgage Bankers Association (“MBA”) shows that the decrease in average mortgage rates resulted in a week-over-week increase in mortgage applications for the week ending February 3 (https://cnw.fm/LVJLz). According to the trade group, the Market Composite Index, a measure of the mortgage loan application volume, grew 7.4% on a seasonally adjusted basis and 8% on an unadjusted basis. In addition, the Refinance Index increased 18% from the previous week, while the seasonally adjusted Purchase Index rose 3% from a week earlier (https://cnw.fm/9JlSe).

To put it more concisely, both the purchase and refinance applications increased over this period. In addition, per the MBA, both showed gains in three of the four foregoing weeks because of lower rates. And with experts projecting that the downtrend will continue, the ripple may eventually turn into a large wave. Mike Fratantoni, MBA’s Chief Economist, is quoted in an ABC article as saying that the mortgage rates are expected to end the year closer to 5% rather than the current 6% (https://cnw.fm/9pmet).

Refinancing at lower mortgage rates presents several obvious benefits to any real estate owners. It helps them lower their monthly payments. For instance, a consumer purchasing a $400,000 home at a 30-year fixed mortgage rate of 6.12% will pay roughly $290 less in monthly mortgage payments than they would have if they had purchased the home in October last year. Additionally, by taking a larger mortgage, owners can access the difference in cash (cash-out refinancing) and direct it to any purpose (https://cnw.fm/ctQNe). For businesses, the cash-out referencing option can be a source of much-needed capital. And nowhere is this more befitting than in the cannabis space.

Operators within the cannabis industry have long struggled with access to capital in the form of mortgages and loans. This is because most traditional banks and financial institutions, which are insured by the Federal Deposit Insurance Corporation (“FDIC”), are prohibited from offering financial services or loans to cannabis companies. So, the declining average mortgage rates are a boon for business owners in this space, and companies like REZYFi are on standby to help such proprietors.

REZYFi is a growth mortgage origination and specialized financing company in the United States. It provides a variety of real estate-related first and additional mortgage-based financing and project-specific financings, primarily targeting licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies. By leveraging a network of independent brokers and licensed loan officers as well as proprietary loan processing technology, REZYFi is keen on efficiently serving as many clients as possible.

Licensed in 36 states, REZYFi operates through its subsidiaries REZYFi Lending, which addresses emerging real estate-related financing opportunities, and ResMac, Inc, a traditional mortgage origination, correspondent, and servicing business.

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

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

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

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Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Lexaria Bioscience Corp. (NASDAQ: LEXX) Continues to Foster New Partnerships with its Expanding DehydraTECH(TM) Licensing Opportunities

  • Lexaria’s patented DehydraTECH(TM) technology improves how APIs enter the bloodstream through the promotion of healthier oral ingestion methods while also increasing the effectiveness of fat-soluble active molecules
  • As a disruptive technology, its impact has been felt by other players in its space, leading Lexaria to open its doors to partnering with industry experts and implementing the technology across many fields, including licensing the technology to Fortune 100 companies
  • Lexaria will continue to make its technology accessible, improving the lives of people around the world

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has, since 2016, repeatedly demonstrated the potential of its patented technology, DehydraTECH(TM). The technology improves how active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting healthier oral ingestion methods while increasing the effectiveness of fat-soluble active molecules. With the help of this technology, Lexaria has explored potential treatment options for a variety of conditions, including hypertension, epilepsy, and even nicotine replacement.

The overall potential of DehydraTECH to be used to improve existing products or create new ones has seen its application in a growing range of consumer product formats, from topical applications to oral suspensions, registered drugs, nutraceuticals, consumer packaged goods, capsules, pills, and tablets. Furthermore, as a disruptive patented technology, its impact has been felt by other players in its space, leading to Lexaria opening its doors to partnering with Fortune 100 companies to implement the technology across many fields (https://cnw.fm/niPD8).

Lexaria, through its licensing program, is making its technology accessible to more people, potentially improving the lives of hundreds of thousands, if not millions of people around the world. With the company having set its eyes on the commercial execution of its DehydraTECH technology for the new year, its licensing program will play a key role in achieving this end. Its management remains optimistic that, as its licensing program grows, more companies will come on board, bringing its technology closer to the masses.

Currently, Lexaria engages in strategic partnerships with third-party companies interested in exploring formulation opportunities with their specific APIs of interest. It also out-licenses its technology in exchange for up-front fees, milestone payments, and/or royalty payments, while offering dietary supplement GMP-grade intermediate formulations to corporate clients on a toll-processing basis.

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Cannabis Brand Strength Could Be More Pivotal Than Sales

In only a few short years, the cannabis industry has proven to be one of the fastest-growing and most profitable sectors in the country. Over two decades after California legalized medical cannabis, the marijuana industry has grown to a behemoth sector worth billions of dollars.

The industry has sold billions’ worth of cannabis products, filled state coffers with billions of dollars in taxes and created hundreds of thousands of new employment opportunities.

This landscape of constant growth and runaway profits attracted entrepreneurs from all over the country who were itching to gain a portion of the extremely lucrative cannabis market for themselves. However, this quickly resulted in an oversaturation of supply as more sellers jumped into the mix, crowding the market. It can be quite difficult to stand out in such an oversaturated market, especially if your business is located in a region such as Michigan, which has no statewide cap on the number of marijuana business licenses.

Data suggests that businesses that focus on brand health rather than sales have a better chance of long-term success. While some cannabis markets believe that branding still doesn’t matter in the cannabis sector, others are pouring all of their energies into creating brand awareness for their products.

In recent years, cannabis markets have taken to advertisements (as much as their home states allow), sponsor events, and even enlist celebrity brand managers to increase awareness of their products.

Others have adopted fun and quirky product designs to stand out on the shelves, targeted specific consumer segments as part of their branding, launched loyalty programs to encourage repeat customers, and created in-store campaigns to pull in new consumers or budtenders.

But even though these marketing initiatives can be costly, cannabis marketers rarely have a means of determining just how effective their marketing initiatives are. If a marketer uses several initiatives to drive sales and repeat sales, they may not know which of their marketing initiatives was responsible for boosting sales.

In such cases, tracking brand health can be a great way to determine how marketing initiatives are resonating with customers. It allows marketers to gauge how well their marketing initiatives are working both in terms of product sales and customer engagement.

Tracking brand health also helps markets to gauge customer consideration, awareness, purchase, and loyalty to each brand and gives marketers a reasonable metric on how they rank with other brands in the industry.

Furthermore, it provides clear marketing performance indicators and makes it possible for marketers to track the effectiveness of their tactics over the long term. These metrics are also helpful to firms like Advanced Container Technologies Inc. (OTC: ACTX) which are ancillary to the cannabis space.

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 — Senators in Nebraska Debate Refiled Marijuana Legalization Measures

Senators in Nebraska recently held a meeting to discuss a newly filed legislation that would legalize medical cannabis in the state. The lawmakers spent the hearing listening to testimonies from experts and advocates on the therapeutic benefits of the cannabis plant.

The members of the Judiciary Committee discussed a medical cannabis bill that was filed by Senator Anna Wishart nearly a month ago, before meeting later in the day to discuss separate measures that would legalize recreational cannabis in the state. Wishart has been at the forefront of cannabis reform in Nebraska for several years now, pursuing this reform through both activist-led ballot campaigns and legislative avenues.

Her medical cannabis bill would allow patients suffering from certain medical conditions to use cannabis for medical purposes with a doctor’s recommendation. Wishart has stated that her measure is one of the most conservative medical marijuana bills in the country and that it would allow patients in Nebraska to access the medical care they deserve. She noted that growing evidence had proven marijuana’s ability to alleviate conditions such as seizures and chronic pain. Furthermore, she added that medical cannabis would help address the need for opioid use as it has proven to be an effective pain killer, without the side effects typically associated with opioid use.

Her bill would have created a medical cannabis system that allowed patients to buy and possess up to two and a half ounces of cannabis if they were suffering from any of the stipulated eligible conditions. The qualifying medical conditions include chronic pain, HIV/AIDS, epilepsy and cancer. The legislation would also ban smoking cannabis and home growing for patients with qualifying conditions.

At the recent medical cannabis hearing, Wishart stated that her goal was to prevent families that needed medical cannabis treatments from leaving Nebraska to go to other states with medical cannabis markets. She noted that her bill had already been amended to address concerns that had been raised during the last session, such as eliminating provisions that allowed vaping or smoking cannabis.

Wishart added that she was willing to make the legislation even narrower as long as it remained centered on patients who needed medical cannabis.

However, state Attorney General Mike Hilgers opposed the legislation and testified that launching a medical cannabis market would be in direct conflict with the federal prohibition of cannabis. The legislation also received opposition from a Nebraska State Patrol representative who said passing the medical cannabis bill would encourage the growth of an illicit market and increase rates of impaired driving in the state.

If the measures gain eventual approval, companies that wish to participate in the industry could find themselves needing funding from the likes of REZYFi Inc. or other entities that have created a niche around meeting the financing needs of marijuana companies in the absence of access to mainstream banks.

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

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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CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Bipartisan Senators Reintroduce Revised Bill on Cannabis Research for Veterans

Last week, a group of senators re-introduced a measure to promote studies on the use of marijuana by veterans. It is expected that an identical bill will be introduced in the House in the near-term.

A congressional source has revealed that the measure’s introduction in the House maximizes the likelihood of its passage through both chambers.

The bipartisan measure in question, the VA Medicinal Cannabis Research Act, directs that the U.S. Veterans Affairs’ department look into the medical potential of cannabis for military veterans, in particular those who suffer from chronic pain and post-traumatic stress disorder. The measure was sponsored by chair Jon Tester of the Senate Veterans’ Affairs Committee and Senator Dan Sullivan. This resolution was carried in previous sessions by Representative Lou Correa.

Sullivan added that they had an obligation to better understand and explore new remedies for mental health conditions that were both effective and safe, and could offer veterans some hope.

Despite protests from VA officials, an earlier version of this resolution was advanced by a House committee. Other versions moved through committee in 2018 and 2020. However, none of these was enacted into law.

The older versions directed that clinical trials evaluating the therapeutic potential of marijuana in the treatment of chronic pain and PTSD be carried out. This is slightly different from the most recent version, which was revised to also include a requirement for a retroactive observation study on the experiences of veterans who have used cannabis for such treatment previously, outside of the clinical trail context.

Other amendments to the bill’s new version include the removal of language that directed studies to use no less than seven marijuana varieties. This comes after an alliance of veterans’ service organizations penned a letter to congressional leaders last year requesting that they approve a cannabis and veterans research legislation before the end of the session. This action was unsuccessful.

As more states revise their drug laws, a larger market will potentially open not just for “plant-touching” companies but also ancillary companies that focus on addressing the needs of the cannabis companies, such as Advanced Container Technologies Inc. (OTC: ACTX).

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

About CNW420

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

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

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

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

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CannabisNewsWire420
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420 with CNW — California Releases Grants Worth $15M to Cannabis Social Equity Initiatives

On Feb. 10, 2023, the state of California announced that it had given out grants totaling $15 million to fund regional initiatives to advance fairness in the cannabis business. The Office of the Governor of Economic and Business Development (G0-Biz) gave the money to 16 counties and cities throughout the state through the Marijuana Equity Grants Program for Local Jurisdictions. The applications began toward the end of 2022.

This is in line with California’s plans to finance future and ongoing fairness initiatives for individuals who are disproportionately affected by the war on drugs with money from the marijuana tax.

The lowest grant recipient will be San Diego, which is expected to receive $350,000, while Oakland (the highest awardee) gets $1,996,487. A total of $35 million was made available for localities throughout the state in an earlier round of grants under the program, for which GO-Biz began accepting applications in 2021. The funding cap for this year and next year is $15 million.

Last year, the department reported that it had given 78 grants to groups across the state to help the social and economic advancement of areas that have been disproportionately affected by the fight against drugs. In the meantime, the state’s Department of Marijuana Control declared that the state intends to award universities that undertake studies into marijuana policy and science grants worth $20 million through cannabis taxes. These grants will cover projects such as preserving the genetic makeup of “legacy” isolates and deterring monopolies in the legal cannabis industry.

California is taking additional steps to broaden the market for cannabis outside of its borders. Regulatory authorities recently asked the attorney general of the state for an official opinion regarding whether permitting marijuana commerce across state lines would put California at “considerable risk” of federal regulatory action.

Last year, the governor signed legislation granting him the authority to enter into agreements with other jurisdictions to freely trade marijuana goods. The call for advice by DCC is an important first step that might ultimately result in the legislation being put into effect. In addition, Newsom would want to see marijuana decriminalized on a federal level, so that the cannabis producers in his state will be able to “lawfully supply the entire nation.”

Furthermore, a state senator has reintroduced a proposal to decriminalize the possession of some psychedelic substances after his previous attempt was unsuccessful in the waning moments of last year’s session.

As the cannabis industry grows even more, the need for funding from other sources such as REZYFi Inc. will grow given that the chance of a banking bill being passed by Congress is looking to be dimmer now that the GOP is in control of the House.

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

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

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CannabisNewsBreaks – AmeriCann Inc. (ACAN) Releases Financial Results Showing Four Consecutive Quarters of Positive Net Income

AmeriCann (OTCQB: ACAN), a cannabis company that develops state-of-the-art cultivation, product manufacturing and distribution facilities, is reporting on its quarter ending December 2022; the report included both financial and operational highlights and noted that the company has seen four straight quarters of positive net income. Other financial highlights include the following: the company is seeing accelerating revenue, net income and adjusted operating EBITDA, which is driven by the performance of ACAN’s Massachusetts Cannabis Center (“MCC”); revenue for the quarter totaled $734,764, which was a 13% increase compared to the quarter ended December 2021; Adjusted EBITDA for the quarter increased by 49.5%, reaching $111,794; and annual gross margins were 98.1%. Much of the company’s financial success stems from products produced and manufactured at Building 1, its initial building at its development in Freetown, Massachusetts. The company receives base rent and a revenue participation fee of 15% of all gross monthly sales of cannabis, cannabis-infused products and non-cannabis products produced at the center. “AmeriCann’s focus on financial performance has produced excellent results, with four consecutive quarters of positive net income,” said AmeriCann CEO Tim Keogh in the press release. “We look forward to building upon these results for the future by expanding operations at our Massachusetts Cannabis Center to produce even greater cash flow.”

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

About AmeriCann Inc.

AmeriCann is a cannabis company that develops cultivation, processing and product manufacturing facilities. AmeriCann uses greenhouse technology, which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25% fewer lights, and utility bills are reduced by as much as 75% compared to typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. AmeriCann is also designing GMP-certified cannabis extraction and product manufacturing infrastructure. The company has secured provisional licenses to produce cannabis-infused products, including beverages, edibles, topicals and concentrates. AmeriCann plans to operate a marijuana product manufacturing business at the Massachusetts Cannabis Center. For more information about the company, please visit www.Americann.co.

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

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CannabisNewsBreaks – ECGI Holdings Inc. (ECGI) Announces Planned Acquisition Representing ‘Plug-and-Play’ Access to Dynamic Market

ECGI Holdings (OTC: ECGI), D/B/A Elite Cannabis Group Incorporated, a Nevada-based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, today announced its entry into a definitive agreement to acquire East West Pharma Group Inc. (“EWPG”), a Wyoming corporation with specialized equipment and experienced personnel, including leaders in the cannabinoid extraction and product manufacturing space. As previously announced, the acquisition represents a shift in the company’s strategy by becoming part of the $2.7 billion cannabis manufacturing, extract and concentrates marketplace. “Now that the agreement is in place, we are excited to hit the ground running,” said ECGI CEO Danny Wong. “This acquisition represents plug-and-play access to one of the most dynamic cannabis product markets on the planet. We now have the relationships, equipment and team to compete for significant market share.”

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

About ECGI Holdings Inc.

ECGI Holdings, which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with California-based targets including undercapitalized and distressed licensed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with nationwide expansion possibilities. For additional information, please contact the company at info@ecgiholdings.com.

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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420 with CNW — Canada Yet to Make Progress on Cannabis Consumption Lounges

Cannabis consumption lodges have been controversial since the first consumption lounge was launched in Los Angeles in 2019. Consumption lounges have made little headway in the years since, and they are still a rarity across most of America.

The situation is the same up north in Canada, where the country has had legal recreational cannabis for five years now but still hasn’t made any effort to craft a legal framework for permanent consumption lounges. The most regulatory authorities have done is issue temporary outdoor consumption licenses for events such as music festivals, but there has been little action, if any, to address the lack of public consumption lounges.

Like most American states with legal cannabis markets, Canada has outlawed the public consumption of cannabis and only allows users to consume cannabis in private residences. But, while the United States has taken some steps to build up the consumption lounge segment, with the lounges becoming increasingly common in Nevada and California, and New York opening its first cannabis consumption lounge late last year, Canadian authorities have made few moves toward growing the sector.

Postdoctoral fellow at the University of Guelph’s School of Hospitality and Food & Tourism Management Susan Dupej argues that marijuana consumption in Canada is still a grey area. Dupej, a student of marijuana tourism in Canada, states that the few entrepreneurs that have opened consumption lounges have been able to use their smarts to maneuver around Canada’s regulations to avoid running afoul of the law.

She explained that the scarcity of legal consumption lounges in Canada has been a missed opportunity that could have significantly increased the country’s cannabis tourism potential. Given that public consumption of cannabis is outlawed, tourists who would like to dabble in Canada’s adult-use cannabis market have nowhere to consume cannabis once they purchase it. Dupej stressed that Canada has to quickly figure out consumption lounge regulations and put them in place.

The federal government may have been in charge of legalizing recreational marijuana, but the country’s municipal and provincial governments in charge of regulating public smoking and vaping have been slow to take action. As it stands, none of the trio of the largest recreational cannabis markets in Canada have a single approved permanent consumption lounge. This means that these regions are missing out on profits from cannabis tourists who would have come over to Canada for its adult-use market.

It doesn’t seem that regulators will take any action on cannabis lounges soon; an Ontario attorney general spokesman revealed in a recent interview that the province did not expect any changes to the country’s cannabis framework.

For enterprises that are pursuing the development of FDA-approved cannabis therapeutics, such as India Globalization Capital Inc. (NYSE American: IGC), no such concerns about where the products will be used exists because approved medicines can be used anywhere.

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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