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 – Flora Growth Corp. (NASDAQ: FLGC) Closes on Acquisition of Multinational Medical Cannabis Operator

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has completed a “plan of arrangement,” or acquisition, of Franchise Global Health Inc. (TSX.V: FGH), a multinational operator in the medical cannabis and pharmaceutical industry with principal operations in Germany. Shareholders of Global Health Inc. approved the plan, which was effective as of Dec. 23, 2022. FLGC anticipates that the acquisition will provide a direct connection between Flora Growth’s Colombian-grown cannabis and German-based pharmaceutical and medical cannabis distribution. The company also noted that the acquisition will establish a foothold in Germany for medical cannabis sales that could reach more than 1,200 pharmacies and include the distribution of pharmaceutical products across 28 countries. According to the announcement, the all-stock acquisition includes the indirect acquisition of FGH subsidiaries Phatebo GmbH and ACA Müller ADAG Pharma Vertriebs GmbH. “We view this acquisition as transformational as Flora pursues its strategic growth plan to lead the global market for cannabis and its derivatives,” said Flora Growth chair and CEO Luis Merchan in the press release. “Flora has now secured a crucial footprint in an established international cannabis market, providing a unique opportunity for operational synergies and diversified growth. The acquisition adds to our distribution network, expanding our client base, and increases our ability to distribute wholesale cannabis products at scale into the European Union.”

To view the full press releases, visit https://cnw.fm/TPNER and https://cnw.fm/1JaIa

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands, and life sciences divisions.

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

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)

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Uses Patented DehydraTECH(TM) Technology to Increase Bioavailability in Pharmaceuticals

  • Studies have indicated that around 40% of the available drugs on the market offer poor bioavailability
  • Lexaria’s patented DehydraTECH(TM) technology increases bioavailability, improving the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery
  • The global pharmaceutical drug delivery market was valued at $1.66 billion in 2021 and is expected to grow at a CAGR of 5.9%, resulting in a value of $2.21 billion by 2026

One of the main concerns associated with marketed drugs is low bioavailability. Bioavailability is the amount of a drug or substance that becomes completely available to the intended biological destination and is a measure of the rate and fraction of the initial dose of the drug that successfully reaches either the site of action or the bodily fluid domain in which the intended target has unimpeded access. Bioavailability is integral to pharmacokinetics, the study of drug movement through the body. Pharmacokinetics is often represented by the acronym ABCD – administration, bioavailability, clearance, and distribution (https://cnw.fm/29C2S).

Various studies have indicated that around 40% of available drugs are poorly bioavailable (soluble) (https://cnw.fm/mLG2Z). Many factors can affect the bioavailability of drugs and substances, including:

  • The size of the drug’s molecule – smaller molecules are more easily absorbed into the body than larger ones
  • The type of drug administered – some drugs are absorbed more easily through the stomach than others
  • How much food is eaten – food can slow down the absorption process
  • The time of day – the absorption of drugs can be affected by factors like the time of day or the mood of the recipient

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has developed a patented technology, DehydraTECH(TM), which improves the bioavailability of active pharmaceutical ingredients (“APIs”), promotes healthier oral ingestion methods and increases the effectiveness of fat-soluble active molecules. DehydraTECH technology is suitable for use with various product formats, including pharmaceuticals, nutraceuticals, consumer packaged goods, and over-the-counter capsules, pills, tablets, and oral suspensions. Currently, DehydraTECH-CBD is being studied for the potential treatment of hypertension and heart disease, epilepsy, dementia and diabetes.

Lexaria’s DehydraTECH solves common problems experienced in the pharmaceutical industry. DehydraTECH technology can increase bioabsorption by up to 10x, reduce the onset time from up to 1-2 hours to just minutes, mask the unwanted taste, delivers drugs into the bloodstream more effectively, and provides a higher ratio of drug delivery expected to lower overall drug costs.

The global pharmaceutical drug delivery market size is projected to reach $2.21 billion by 2026, growing at a CAGR of 5.9%. The market was valued at $1.66 billion in 2021. This growth is highly attributed to factors including the rising prevalence of chronic diseases, the growing biologics market, increased R&D investments, and technological advancements – including new product launches (https://cnw.fm/PjBnG).

Understanding the bioavailability of a drug is crucial for clinicians looking for the most appropriate route of administration and schedule for delivering the drug. Lexaria is currently studying its DehydraTECH and DehydraTECH-CBD for indications including epilepsy, high blood pressure, dementia, diabetes and more.

The company’s most recent study, EPIL-A21-1, demonstrated performance enhancements compared to one of the world’s leading anti-seizure medications, Epidiolex(R). The study’s results have demonstrated the performance of DehydraTECH-CBD to reduce or eliminate seizure activity in animals and, in some cases, even surpass the performance of Epidiolex. These findings further support Lexaria’s efforts and clinical trials, which are currently being explored for hypertension, dementia, diabetes and other indications where DehydraTECH technology may offer solutions in indications where there is an underserved medical need.

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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420 with CNW — Report Shows Quarterly New Jersey Recreational Cannabis Sales Surpassed $100 Million for First Time

Last week, the state of New Jersey released ITS latest sales figures, which show that adult-use cannabis sales surpassed $100 million for the first time during the third quarter of this fiscal year. New Jersey’s adult-use market was officially launched in April of this year. During the first 10 weeks of sales, the state raked in almost $5 million in cannabis tax revenue.

The state’s Cannabis Regulatory Commission reported that adult-use marijuana sales between July and September totaled $116,572,533. This represents a 46% increase from the $79,698,831 recorded in the second quarter. Medical cannabis sales also grew slightly, moving to $61,138,231 from the $59,262,014 recorded in the previous quarter. In total, recreational and medical marijuana purchases in New Jersey added up to $177, 710, 764.

In a press release, the executive director of the New Jersey Cannabis Regulatory Commission, Jeff Brown, stated that this was only the beginning of what was possible for marijuana. He explained that the commission had awarded 36 licenses for recreational marijuana businesses to entrepreneurs in the state, including 15 annual licenses for dispensaries.mBrown noted that greater competition and more locations would significantly grow the market while also growing marijuana’s consumer base and reducing product prices.

Dianna Houenou, the chairwoman of the state’s Cannabis Regulatory Commission, stated that the commission looked forward to seeing local, small entrepreneurs taking part in this profitable market. Houenou added that new initiatives and the priority application process that will be launched in 2023 by the New Jersey Business Action Center would make it easier for more individuals to be included in the market.

Officials also expect the state’s industry to expand as more licenses for public marijuana consumption areas are approved. These areas offer a social- use option to patients and adults. Regulators in New Jersey approved regulations for this type of license a few weeks ago.

Recently, an assembly committee in New Jersey passed a measure that would offer state-level protections for insurers and banks that worked with licensed cannabis businesses. This comes after the full assembly passed a resolution a few months ago that would permit licensed cannabis businesses to deduct specific expenses on their state tax returns. This is said to be a partial remedy as the industry is still hindered from making federal deductions under Section 280E of the Internal Revenue Code.

In other news, Governor Phil Murphy of New Jersey revealed that the state planned to revisit the criminalization of homegrown cannabis for personal use in the future, after the commercial market had matured. The possibility of revising the marijuana law in New Jersey to allow home cultivation of the plant, if implemented, could expose NJ residents to modern indoor cultivation equipment for enterprises 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.

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420 with CNW — Cannabis Banking Drives Wedge Between Senate Republicans

The results of the November midterms created a sense of urgency among supporters of cannabis banking legislation. This is because the chances of this bill passing in the next Congress dimmed when Republicans wrested control of the House of Representatives from Democrats and denied the Democrats a solid majority in the Senate.

Renewed efforts were therefore invested to see to it that some form of cannabis banking reform is approved during the lame duck session prior to the commencement of the new Congress. That renewed vigor seems to be failing to bear fruit, however, and the GOP is being divided between those in favor of banking reform and those opposed to any form of cannabis policy reform.

A case in point involves newly elected NRSC (the Republican caucus in the Senate) chair Steve Daines, a Republican from Montana, and Mitch McConnell, the minority leader of the Senate. Daines has campaigned vigorously to see cannabis banking language included in the omnibus package or in the National Defense Authorization Act, if the SAFE Banking bill fails to pass on its own.

McConnell effectively killed both options, and Daines isn’t happy about it. Daines’ home state, Montana, legalized recreational marijuana, and the GOP senator has been pushing for cannabis banking as a way to safeguard the public from the risks associated with all-cash marijuana industry operations back home. McConnell isn’t impressed.

The two leaders are vital in the GOP senate machine, and disagreements on these policy issues intertwined with politics could split the party down the middle. This is especially possible given the fact that other GOP senators, including Dan Sullivan from Alaska and Rand Paul from Kentucky, are passionate supporters of SAFE Banking.

Proponents of passing legislation enabling cannabis banking see GOP lawmakers opposed to these reforms as playing politics on a matter of public safety, especially since numerous opinion polls across the country have shown overwhelming bipartisan support at the grass roots in favor of marijuana policy reform. GOP lawmakers from states with legal marijuana markets are particularly unhappy that party leadership remains adamant about the realities on the ground, such as the risks to life faced by staff at cannabis businesses on a daily basis as burglars and armed robbers target these establishments.

Thom Tillis, a GOP senator from North Carolina, is opposed to the cannabis reform measures before the senate. He downplays any notions that the policy differences between Daines and McConnell could divide the GOP, saying that the two men share a great relationship regardless of their positions on cannabis banking.

It remains to be seen how the party resolves these internal differences without fracturing further, especially given that another election cycle is around the corner in 2024. You can bet that cannabis industry players such as Flora Growth Corp. (NASDAQ: FLGC) will be following events in Congress closely.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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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REZYFi, Inc. Continues to Diversify Lending and Mortgage Industry, as Mortgage Rates Show Decline for Fifth Week in a Row

  • REZYFi is targeting licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners who seek a variety of real estate-related first and additional mortgage-based financing and project-specific financing
  • The sale of legal recreational marijuana in California in 2016 reached $2.69 billion and is expected to grow to $6.59 billion by 2025. Since passing laws for recreational marijuana, California saw a 50% increase in the legal marijuana market from 2017 to 2018
  • REZYFi is licensed in 36 states and plans to expand to all states in the future

Throughout most of 2022, mortgage rates were rising due to the Federal Reserve’s increased interest rates to counter soaring inflation. However, mortgage rates have started dropping in recent weeks, reporting a downward trend for the fifth consecutive week. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.31% in the week ending December 15, down from 6.33% during the week prior. According to the Mortgage Bankers Association, there has been an uptick in mortgage applications, with more people looking to take advantage of the trend in lower rates (https://cnw.fm/Qigs1). 

REZYFi is a real estate-oriented mortgage company servicing the needs of both traditional and non-traditional consumers and businesses. The company’s target markets include licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners who seek a variety of real estate-related first and additional mortgage-based financing and project-specific financing, like solar installations or real estate development projects.

REZYFi has positioned itself as one of the first cannabis mortgage bankers in the United States – an area that traditional bankers are still reticent to serve. Through its two wholly owned subsidiaries – REZYFi Lending and ResMac Inc. – REZYFi is addressing an emerging real estate market with its financing opportunities, traditional mortgage, origination, correspondent, and servicing operations.

The company leverages a wide network to offer options such as 15- and 30-year fixed-rate loans, FHA loans, VA loans, reverse mortgages, jumbo loans, and adjustable-rate mortgages. REZYFi expects increased funding for marketing and loan agents, which will drive significant origination growth over the next two years, supported by the planned launch of a high-margin cannabis division later this year.

ResMac has been in operation for 13 years and has closed more than 20,000 loans for more than 15,000 clients. The company expects to accumulate $285 million in retail origination in 2023, alongside $250 million in wholesale origination for the same period. ResMac is further targeting $600 million in origination through its mortgage correspondent operations for 2023.

In 2016, the sale of legal recreational marijuana in California – the world’s largest cannabis market – was valued at $2.69 billion and is expected to grow to $6.59 billion by 2025. Since passing laws for recreational marijuana in 2016, California saw a 50% increase in the legal marijuana market from 2017 to 2018 (https://cnw.fm/eOEGe).

Using its corporate strengths – experience, a network of independent brokers, and proprietary technology – REZYFi offers a diversified approach to the real estate lending sector, which positions it to capitalize on growth in multiple verticals in the years to come. Licensed in 36 states, the company plans to expand to all states in the future.

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

Luis Merchan, Helping Flora Growth Corp. (NASDAQ: FLGC) Become Global Leader in the CBD Space

  • Luis Merchan was appointed President of Consumer Goods at Flora in July 2020 before being appointed as the company’s CEO five months later, and chairman of its Board of Directors in May 2022
  • Merchan would lend his years of experience at Macy’s, where he led various sales and marketing initiatives, including the B2B corporate team responsible for bringing in $160 million in annual revenue 
  • Under his leadership, Flora has transitioned from the development stage to a full-scale international distributor with operations in over 12 countries worldwide. Mr. Merchan has also spearheaded several M&As, all of which have since set the company up for rapid growth
  • Flora maintains its revenue guidance for FY 2022 to be between $35 and $45 million, incorporating revenue contributions from its various operating divisions, including Vessel Brand

In July 2020, Flora Growth (NASDAQ: FLGC), a cannabis cultivator, brand manufacturer, and global distributor, appointed Luis Merchan as the President of Consumer Goods. Mr. Merchan would lead the company’s CBD portfolio, eventually launching four unique brands in the United States and facilitating the growth of the company’s operating divisions (https://cnw.fm/ZeVsJ). His performance would influence his appointment as CEO of the company five months later, taking over from Damian Lopez.

Before joining Flora, Mr. Merchan held various positions at Macy’s Inc., including Vice President (“VP”) of Workforce Strategy and Operations, VP of Customer Experience and Selling Support Services, and Group VP of National Merchandising and Sales Beauty.

Over his 9-year tenure at Macy’s, Mr. Merchan led various sales and marketing initiatives that included the B2B corporate sales team responsible for bringing in $160 million in annual revenue for the company. This earned him the Macy’s Chairman’s award for four consecutive years, from 2015 to 2018 (https://cnw.fm/ZdcAD).

During the announcement of his appointment as Flora’s head, the outgoing CEO, Damian Lopez, noted the company’s plan to adapt its team to put Flora Growth in the best position possible to carry on its impressive growth trajectory. In addition, he lauded Mr. Merchan’s performance as President of Consumer Goods, citing how impressive of a business executive he was and how integral he would be for the company’s growth going forward.

“I am excited to leverage my past consumer packaged goods experience at Macy’s while continuing to work closely with Damian and leveraging his knowledge of the company and the industry to make Flora Growth a global cannabis brand,” noted Mr. Merchan (https://cnw.fm/mhUkT).

Merchan has since been appointed Flora’s Chairman of the Board, taking over from Bernie Wilson, terming it as a “Testament to what we have built together thus far.” This came on the heels of Flora’s transition from the development stage to a full-scale international distributor with operations in over 12 countries worldwide; all achieved under Merchan’s leadership. Merchan has also spearheaded several mergers and acquisitions (“M&As”), most notably JustCBD and Vessel Brand, which have since set the company up for rapid growth.

Flora has since also secured $34.5 million in financing and signed deals with key retail distributors such as Tropi, a Colombia-based distributor, Walmart, and Macy’s. The company also completed its first import of CBD-containing food and beverage products into the United States from Colombia under its Mambe brand. It has also signed an agreement with luxury clothing and lifestyle brand Tonino Lamborghini to distribute designer CBD beverages through this retailer.

Flora maintains its revenue guidance for the 2022 financial year to be between $35 and $45 million, incorporating revenue contributions from its various operating divisions, including Vessel Brand. Mr. Merchan is confident that the company will realize these projections, even as it works towards further market expansion and product diversification as time progresses. Under his leadership, Mr. Merchan is slowly turning Flora into a global leader in the CBD space while also helping it execute its strategy to achieve its short-term and long-term objectives.

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

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

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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420 with CNW — DOJ Official Explains Upcoming Process to Gain Presidential Marijuana Pardon

In early October, President Joseph Biden announced that he would pardon thousands of Americans who were convicted of simple marijuana possession at the federal level. President Biden also called on governors to begin the process of issuing pardons for similar cannabis convictions at the state level, saying in a public statement that no one should be jailed for just possessing or using marijuana.

However, the pardon would not apply to noncitizens who did not have legal status when they were arrested and convicted. At the time, the White House stated that the Office of the Pardon Attorney would soon make it possible for eligible parties to apply for a certificate of pardon via a short application form.

On Tuesday, U.S. Pardon Attorney Elizabeth Oyer revealed that this short, 10-minute form is nearly ready and that the Justice Department would unveil it to the public. Oyer discussed the practical and symbolic implications of Biden’s pardon during a panel discussion by Ohio State University’s Mortiz College of Law. The panel also involved Last Prisoner Project executive director and general counsel Sarah Gersten and University of Minnesota Law School Clemency project director JaneAnne Murray.

Acknowledging the fact that this clemency does not extend to immigrants, an exclusion that raised the ire of several immigration and racial justice groups, Oyer said that immigrants may be able to receive certificates of pardons by applying through the traditional clemency process. Oyer noted that eligible parties were officially pardoned as soon as the pardon proclamation was signed in October as the pardon was “self-effectuating.” However, the proclamation also instructed the DOJ to create a certification process following the pardons.

According to Oyer, the certification process that the DOJ office is working on will be “very simple and very streamlined,’” taking most people no more than 10 minutes to complete. She explained that crafting something simple in the government often requires more effort and takes longer but that the applications will be ready for public deployment ‘”very soon.”

These applications will be available online and can also be submitted through physical mail.

Oyer said that the office is looking to speed up the application process for applicants by working with the DOJ’s IT department to develop a web-based platform where applicants can simply and quickly submit their applications. The platform will also be designed in a way that makes it easier for Oyer’s office to swiftly review the information and process the applications into certificates of pardon.

Meanwhile, aside from the debates on whether marijuana should or shouldn’t be legalized federally, several companies such as India Globalization Capital Inc. (NYSE American: IGC) are taking the pharmaceutical route of conducting preclinical and clinical development programs on cannabinoid-based medicines so that FDA approval is secured and the therapies are availed through the hospital system.

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 — Federal Survey Shows Teen Marijuana Use Remained Unchanged in 2022

As other states join in legalizing marijuana post-pandemic, teenagers’ use of cannabis has remained stable through 2022. The director of the National Institute on Drug Abuse (NIDA), Nora Volkow had earlier deduced that the drop in teenage substance abuse was because of the COVID social restrictions. There was an expectation of an upsurge in substance use post-pandemic, but that was not the case. The previous month/daily marijuana intake among the senior high school kids was unchanged.

“Use of cannabis, among the senior high schoolers, has remained a plateau,” an officer from NIDA said. It is also reported that cannabis vaping among 8th graders was at 6%, 15% among 10th graders and 20.6% among 12th graders by 2021, signifying a neutral prepandemic trend. Post-pandemic (2022) usage was slightly higher than prepandemic usage among the 10th graders.

NIDA has been analyzing drug use among youth for almost 50 years. The organization notes that in order to understand trends in substance use among young people, there is a need to use timely and excellent tools, even during historic events such as the COVID-19 pandemic.

Vaping, alcohol and other substance use has been stable across the teen ages though alcohol and opioid use levels among 12th graders reverted to prepandemic-era levels. MFT findings show in 2021 there was a slight increase in cannabis use. Marijuana vaping tweaked higher among 12th graders between 2021–2022. The consistency has debunked the myth that legalizing marijuana would heighten underage substance use.

The Institute of Social Research at Michigan University conducts an annual teen vaping survey for NIDA. The survey, however, largely avoids marijuana vaping topics. In November, NIDA-funded research discovered that state-level legalization of cannabis does not correlate with increased youth consumption. Adolescents who were exposed to legalization were likely or not likely to use cannabis at 15 years in comparison with those who didn’t grow up under the legalization of cannabis. In another study, retail sales of cannabis coincide with the increased onset of cannabis occurrence in older adults other than youngsters. In Colorado, marijuana teenage use declined substantially in 2021.

A reported 100% compliance with the identification policy has discouraged underage persons from buying cannabis from licensed marijuana traders. Another survey shows marijuana use among youth dropped in 2020 due to the COVID–19 pandemic as more states enacted legalization.

The U.S. education department studied senior high students from 2009–2019 and saw that no worthy difference between grades 9 through 12 reported consuming cannabis once a month.

The CDC says teenage marijuana consumption declined at the zenith of state legalization of cannabis for recreation purposes. A 2020 Colorado survey showed consumption of cannabis has not changed since the enactment of legalization though the usage methods were diversified.

A White House official in the National Drug Control Policy further noted in 2020 that cannabis use in the youth was declining and that it was a welcome event, even if the reasons remained unknown.

These findings from federally funded studies show that the marijuana industry has been taking a lot of needless flak and part of what it needs is funding from not only entities such as REZYFi Inc. but also traditional banks so that the sector can grow and serve more people by providing jobs and gathering taxes without putting teens in significant danger.

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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CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH-CBD (TM) Achieves Superior CBD Blood Absorption Levels in Hypertension Study

Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug delivery platforms, today announced that it has demonstrated superior cannabidiol (“CBD”) blood absorption levels from its patented DehydraTECH-CBD(TM) relative to those of published, pharmaceutical-grade CBD industry comparators. The results were obtained from the company’s recently completed, multi-week human clinical hypertension study – HYPER-H21-4. “DehydraTECH-CBD has repeatedly shown that it can be administered at much lower dose levels than other CBD formulations to achieve effective levels within the blood stream, as supported by this pharmaceutical-industry peer comparison,” said Chris Bunka, CEO of Lexaria Bioscience Corp. “This is extremely important to patients hoping to achieve positive health outcomes while using lower levels of medication with no serious side effects and also important to Lexaria as we pursue FDA registration of DehydraTECH-CBD.”

To view the full press release, visit https://cnw.fm/42lCA

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 27 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.

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420 with CNW — Oregon Lawsuit May Allow Interstate Cannabis Commerce as Congress Remains Inactive

Decades after California legalized medical cannabis and launched an industry that would soon be worth billions of dollars in revenue, interstate cannabis is still virtually nonexistent. But even though America’s state-legal cannabis industry now employs hundreds of thousands of people and generates billions of dollars in taxes, there is little to no interstate commerce between states with legal markets. This is partly because most of these states included stipulations in their regulator frameworks that prevented them from trading with other states.

As a result, cannabis producers cannot ship their products across state lines or source cannabis-related raw materials from other states. However, analysts familiar with the matter say that this may soon change if a lawsuit against Oregon’s cannabis law is successful.

If Congress doesn’t move to legalize interstate cannabis trade, activists and industry players could go through the courts to make it possible for players in the cannabis industry to trade across state lines. Like many states with legal cannabis markets, Oregon has stipulations that require cannabis operators to conduct their business within state lines.

Jefferson Packing House, a distribution company based in Medford, Oregon, filed a lawsuit against Oregon state officials, including the governor, arguing that the state law prohibiting interstate trade was unconstitutional. Oregon officials seem quite willing to legalize interstate trade after Governor Kate Brown passed a law that would lift the ban on interstate trade if major changes were made to federal cannabis policy.

The recent lawsuit shows the industry’s impatience and lack of faith in reform at the federal level. It could be months or even years before Congress legalizes cannabis at the federal level and allows interstate cannabis commerce.

Jefferson Packing House is seeking to enact change as soon as it can without waiting for any action from the federal government. Lawyers from the company sent a letter to state officials on Nov. 14, 2022,  arguing that only Congress had the authority to regulate interstate commerce.

The Dormant Commerce Clause bars states from preventing the free movement of goods, capital and people between states unless they have received express and limited approval from Congress. States may also receive Congressional approval to prevent interstate trade if there are real public health concerns that can’t be dealt with through other restrictive means.

If the lawsuit against Oregon officials is successful, it could encourage other states to fight for the approval of interstate cannabis trade through their respective courts. If the courts sanction interstate commerce involving cannabis, entities such as Flora Growth Corp. (NASDAQ: FLGC) would probably have to rethink their approach to expanding their footprint across the country.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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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