Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

420 with CNW — 2022 Sales Bring Recreational Marijuana Sales in Massachusetts to Almost $4B

Cannabis has proven highly lucrative for most states with legal marijuana programs. Thanks to immense demand from the public, cannabis retailers in states such as California and Colorado have been selling billions of dollars’ worth of cannabis products to customers. State governments win big in such scenarios because they often receive hundreds of millions or even billions of dollars in cannabis taxes.

Massachusetts is one of the latest states to rake in billions in cannabis sales. Data from a recent report released by the state’s Cannabis Control Commission shows that the state collected a whopping $1.42 billion in adult use sales between Jan. 1 and Dec. 18, 2022.

A closer look at the report reveals that recreational use sales of cannabis in Massachusetts increased steadily month by month. February had the lowest sales in the year at around $110.1 million while the highest sales occurred in July ($132.4 million) and August ($130.8 million).

December also recorded low sales of only $72 million, but this is probably because the state stopped recording sales data for the year on Dec. 18, 2022. Incidentally, the last few days that weren’t recorded saw an increasing amount of sales that eventually peaked at $5.1 million on Dec. 17  before dropping down to $4 million the next day.

Cannabis flower was still the most popular product among consumers with more than $11 million of flower sold during the week leading up to Christmas. Vape-related products came in second at $6 million in sales followed by pre-rolls and edibles which both saw around $4 million in sales each.

Massachusetts’s recreational cannabis industry is relatively new. The state moved to legalize recreational cannabis sales in November 2018, and the industry has grown significantly since then. By the end of last year, Massachusetts had collected $3.9 billion in total gross cannabis sales, first reaching the billion-dollar mark in October 2020 followed by $2 billion in July 2021 and finally $3 billion last May.

Cannabis has been one of the most-used drugs in America for quite a while, and consumers have been eager to buy from recreational markets around the world, creating an industry worth billions of dollars in only a few short years.

Sales of medical cannabis sales from Jan. 1, 2022, to December 18, 2022,, hit $260.2 million, with the state experiencing a decline in medical cannabis sales toward the end of the year after a sales peak in March and April. Data from the commission also shows that medical cannabis sales in March and April reached $24.7 million and $24.4 million respectively.

Such stats for medical cannabis sales show that the public is hungry for medicinal products made from marijuana and that there is a potential market for companies looking to develop therapeutic formulations from cannabinoids such as THC, including India Globalization Capital Inc. (NYSE American: IGC),

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 — Montana Earns More Than $200M from First Year of Adult-Use Cannabis Sales

A recent report by Montana’s Department of Revenue (DOR) provided an analysis of the state’s first year of legalized recreational cannabis sales. According to the data, marijuana sales for both personal and medical purposes totaled $303,563,878 in 2022. Adult-use marijuana generated $202,947,326 of the total, while medical cannabis generated $93,616,552.

The department reported total sales of $25,653,687 in December, which remains at par with the averages of each month all year long. Although the overall figures haven’t changed a lot, adult-use transactions have increased their market share from 58% at the beginning of the year to nearly 77%.

According to Pepper Petersen, president of the Montana Cannabis Guild and a key player in the fight for recreational cannabis legalization, the total anticipated sales for last year were between $260 million and $280 million, thus the actual amount was significantly higher. Petersen stated that the numbers represented approximately 40 tons of marijuana in the entire state, all of which was grown and sold in Montana. Furthermore, Petersen estimates that the industry currently supports approximately 5,000 employment opportunities in the state.

In a meeting with legislators, Kristan Barbour, the head of the DOR Cannabis Control Division, revealed that as of Dec. 27, 2022, some $35,460,146 in cannabis tax revenue had been deposited into Montana’s general fund.

This year, state legislators are planning to take into account potential amendments to the sale of cannabis. One proposal, House Bill 128, could mean a few changes, including extending the prohibition on opening new cannabis businesses by two years. Adult-use cannabis sales are currently only allowed to be conducted by companies that were active in the medical cannabis market prior to the 2020 legalization vote.

The bill also supports making changes to the moratorium date to enable businesses that opened after the 2020 presidential election to sell recreational cannabis. Many Montanans would be happy about this, including Cindy Coleman, the proprietor of Sean’s Way, a cannabis dispensary in Helena. Coleman named the business after her son, who greatly benefited from medical cannabis prior to his cancer death.

Coleman started her business in 2017, took a break for personal reasons in 2019, then returned in 2020 but was unable to complete the state licensing requirements until Nov. 20, a few weeks after the vote,, and thus she cannot sell recreational cannabis.  Coleman acknowledged that it has been challenging to continue operating exclusively for medical pot, and she believes that the expensive medicinal cannabis is deterring many potential patients from obtaining it. She claims that every day she has to turn away a large number of people who do not have medical cannabis cards.

House Bill 128’s initial committee hearing, which was originally scheduled for Jan. 17, 2023, has been postponed. The bill will likely be heard the following week, according to the bill’s sponsor, Rep. Josh Kassmier (R-Fort Benton).

The success of newly launched cannabis markets such as the one in Montana shows that if industry players can access funding from various sources, including REZYFi Inc. and traditional banks, rapid growth can occur and residents will have a lot more products to choose from at competitive prices.

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. (NASDAQ: LEXX) Moves Closer Toward Broad Applications of Patented DehydraTECH(TM)

Lexaria Bioscience Corp. (NASDAQ: LEXX) in 2022 achieved crucial milestones centered around its patented DehydraTECH(TM) drug delivery technology. “For Lexaria, the end goal does not only lie in uncovering DehydraTECH’s ability to improve the bioavailability of various APIs. Instead, the company is keen on establishing whether DehydraTECH can be applied broadly within the pharmaceutical industry. And calendar 2022 has brought Lexaria closer to realizing this goal, with the company initiating a slew of research programs, many of which it has already completed. Moreover, its intellectual property (‘IP’) portfolio received additional patent protection in different jurisdictions around the world. Lexaria also entered into multiple manufacturing and/or licensing agreements with global partners,” a recent article reads. “The company’s 2022 research programs included: a) an animal study evaluating DehydraTECH-processed sildenafil, a phosphodiesterase (‘PDE5’) inhibitor used in the management of erectile dysfunction; b) a 16-person hypertension study, HYPER-H21-3, and a 66-person hypertension study, HYPER-H21-4, both evaluating DehydraTECH-CBD as a potential treatment for high blood pressure; c) a three-part animal study assessing the effectiveness of DehydraTECH-CBD in reducing seizure activity compared to the FDA-approved seizure medication Epidiolex; d) separate investigations on the potential therapeutic use of DehydraTECH-CBD in both diabetes (‘DIAB-A22-1’) and dementia (‘DEM-A22-1’); and e) a human oral nicotine study, NIC-H22-1, designed to compare the performance of Lexaria’s DehydraTECH-nicotine pouch to On!’s (a pouch brand manufactured by Altria) and Zyn’s (the world’s leading nicotine pouch product manufactured by Swedish Match).”

To view the full article, visit https://cnw.fm/L9bMy

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)

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Italian Army to Boost Medical Cannabis Production

To become self-sufficient in the production of medical marijuana, Italy is cultivating plants with covert nutrients in military-grade sterile environments. According to DefenseNews, Italy’s army aims to produce more than 1,500 pounds of high-quality marijuana or about 50% of the estimated 3,300-plus pounds that the nation needs each year to meet the needs of those who use it to manage their chronic pain from diseases such as Parkinson’s disease or cancer.

Cannabis is imported into Italy from Canada, Holland, Germany and Denmark. With the opening of the military facility in Florence, however, the country hopes to produce a premium product with an unrivaled dosage at a cost comparable to imported cannabis.

The Florence operation, which began operations in 2014, achieved 110.2 pounds in 2020 and expanded to 661.4 pounds in 2022. This expansion was made possible by increasing the number of growing rooms from two in 2016 to 10 most recently. To achieve the 1,500 pounds of cannabis required this year, lab technicians are working on improving watering, lighting, and ventilation. They also use a mix of top-secret nutrients created internally.

Nicola Latorre, head of the Italian agency in charge of the project, also stated that the lab intends to produce olive oil infused with cannabis that users can consume in the form of drops. He went on to say that five privately owned businesses were working to provide additional mother plants to help facilitate growing the plants. He made it clear, however, that the country would continue to handle the main operation to ensure cost and quality.

Officials noted that the military was chosen as the legal marijuana grower and supplier for several major reasons: first, it could guarantee strict security; and second, its involvement in the production of medicinal drugs for a long time, having offered medications and treatments to wounded soldiers since the 1800s.

Additionally, the military produces orphan drugs, which are treatments for uncommon illnesses that most pharmaceutical companies avoid due to their low production volumes. Four of these medications are currently produced by the military to serve 3,000 Italians.

For the two marijuana strains that it grows, the military has produced the trademarks FM2 and FM1, meaning Farmaceutico Militare (translating to Military Pharmaceutical). Tetrahydrocannabinol, the chemical that creates the high associated with marijuana use, is present in varying amounts in each.

This is not the first time the army has been involved in the growth of medical marijuana. According to a 2014 report by The Independent, the country announced that the army would assist in increasing medical cannabis production, with the first secure growing facility opening in Florence in April 2015. As a result, the army began growing large crops of cannabis to drive the drug’s price down to around $8.50 per gram in 2016.

As nations such as Italy try to establish their own cannabis production systems, they are likely to keep depending on international suppliers such as Flora Growth Corp. (NASDAQ: FLGC) while waiting for their local capacity to grow to the required level.

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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CNW420 is part of the InvestorBrandNetwork.

420 with CNW — New York’s Recreational Cannabis Market Faces Hurdles

In April 2021, New York legalized recreational cannabis sales for people aged 21 and older, becoming the 15th state in the country to approve adult-use cannabis sales. Eligible New Yorkers would now be able to possess up to three ounces of cannabis or 24 grams of concentrates with no legal repercussions.

While the legislation didn’t outline a specific schedule for recreational sales, they were expected to begin sometime in 2022. Lawmakers behind the bill and reform advocates predicted that the move to legalize adult-use marijuana in New York could prove to be extremely lucrative, creating a market worth an estimated $4.2 billion and surpassing most other states with recreational markets.

An estimated 40% of the tax revenue generated from recreational cannabis sales in New York would be allocated to Black and Brown communities that had been disproportionately affected by the war on drugs.

However, it will be quite a while before New York’s recreational cannabis industry reaches the heights lawmakers and activists dream of. For starters, we still don’t know when dispensaries will open their doors and begin sales, and entrepreneurs are still waiting eagerly for word from regulators.

Office of Cannabis Management spokesperson Aaron Ghitelman conceded that the state needed more than one recreational cannabis dispensary and that the office was working to approve more stores. New York is currently home to only one dispensary. The Housing Works Cannabis Co. opened its doors for just a few hours on December 29. New York Office of Cannabis Management executive director Chris Alexander made the first ceremonial purchase of the day, buying 100 milligrams of THC gummies and an eighth-ounce of locally grown cannabis flower.

While this was undoubtedly great, a single store is far below the 20 stores that Governor Kathy Hochul had promised before the start of the year. Housing Works Cannabis Co. sold to more than 500 customers in the first four hours after it opened its doors, signifying the immense demand for recreational cannabis among New Yorkers.

Conversely, sales in nearby New Jersey began last April with around 12 operational locations.

It is still unclear when state regulators will allow other adult-use cannabis retailers to open their doors. Furthermore, New York is still plagued by a massive illicit cannabis market, an issue that also affects states such as California that are among the largest cannabis markets in the world.

Alexander pledged to provide more law enforcement to handle New York’s cannabis black market in the wake of numerous cease and desist letters and raids of unlicensed cannabis operations by police and the New York City Sheriff.

As the legal production of adult-use cannabis grows, there is likely to be a bigger market for indoor cultivation equipment, such as that made by Advanced Container Technologies Inc. (OTC: ACTX), as players compete to carve out for themselves a segment of this new market.

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

About CNW420

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

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

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

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REZYFi, Inc. Leverages Cannabis and Real Estate Financing Opportunities Through Wholly-Owned Subsidiaries

  • The growing perception is that cannabis companies investing in real estate raise the value of the area in which they invest
  • A 2020 study conducted in states where medicinal and recreational cannabis is legal found that 35-36% of respondents saw an increase in demand for warehouses, 23% for storefronts, and up to 28% for land
  • The global legal cannabis market was valued at $17.8 billion in 2021 and is expected to reach $134.4 billion by 2030
  • REZYFi is leveraging its corporate strengths through two wholly-owned subsidiaries – REZYFi Lending and ResMac Inc. – offering a diversified approach to cannabis and real estate financing that traditional banks are reticent to offer

Cannabis and real estate have a unique relationship. The growing perception on the market is that cannabis companies investing in real estate raise the value of the area they invest in. Three strong arguments support the perception – abandoned buildings are gaining new life when rehabilitated by cannabis businesses, entrepreneurs are investing in the cannabis market as an asset that does not depreciate over time, and new jobs are increasing residential home sales. In a 2020 study conducted in states where cannabis for medicinal and recreational purposes is legal, 35 to 36% of respondents noted an increase in demand for warehouses, 23% for storefronts, and up to 28% for land (https://cnw.fm/6DypS).

At the forefront of cannabis and real estate is REZYFi, a growth mortgage origination and specialized financing company in the United States. REZYFi originates, structures, and invests in first mortgage loans and alternative structured financing secured by commercial real estate properties. The company’s target market includes licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based financing.

The global legal cannabis market was valued at $17.8 billion in 2021 and is expected to grow to $134.4 billion by 2030, growing at a CAGR of 25.3%. The market is expected to grow due to the increase in the legalization of cannabis and the acceptance of its use in the medical industry. The FDA has issued several guidelines, and new policies are underway to regulate the use of cannabis – ultimately driving investment in the cannabis industry (https://cnw.fm/x83lx).

REZYFi operates through two wholly-owned subsidiaries and is positioned as one of the first cannabis mortgage bankers in the United States, an area most traditional banks are hesitant to serve. REZYFi Lending primarily addresses emerging real estate-related financing opportunities, leveraging 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. ResMac Inc. has been operating for 13 years and is the company’s traditional mortgage origination, correspondent, and servicing operation. REZYFi expects to accumulate $285 million in retail origination in 2023, alongside $250 million in wholesale origination during the same period.

REZYFi is using a diversified approach to the real estate lending sector to capitalize on growth in multiple verticals in the years to come. The company’s experience, network of independent brokers, and proprietary technology allow it to leverage the industry and offer a wide range of real estate and financing options that were not readily available. As of December 2022, the company is licensed in 36 states and plans on expanding 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

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 is part of the InvestorBrandNetwork.

Lexaria Bioscience Corp. (NASDAQ: LEXX) Adds to its Existing Suite of Global Patents with First Granted Patent in Canada

  • Lexaria has announced patent #3,093,414, its first patent in Canada, its 28th granted patent worldwide, and the first patent from its sixth patent family
  • This patent joins the ranks of previously issued patents in Australia, India, Japan, and the EU, even as similar patent applications for skin-based delivery of patented DehydraTECH formulations remain pending in many countries
  • In Lexaria’s 2018 study, DehydraTECH-processed CBD demonstrated almost a 1,900% increase in CBD permeability through human skin compared to a control formulation that was devoid of any commercial penetration enhancers
  • This patent inches Lexaria closer to taking advantage of the cosmeceuticals market, projected to hit $95.95 billion by 2030, and the global skincare market that is estimated to post a CAGR of 4.6% over the forecast period (2021-2030)

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has announced its 28th granted patent worldwide and the first granted patent from its sixth patent family, titled “Transdermal And/Or Dermal Delivery Of Lipophilic Active Agents.” The Canadian patent #3,093,414 is for improved compositions and methods for transdermal and dermal delivery of cannabinoids, including cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”), all established on the company’s patented DehydraTECH technology (https://cnw.fm/cMrMY).

This patent comes three months after Lexaria was granted its 27th worldwide patent in Mexico and just eight months since it was awarded its 25th patent in the United States for “Compositions and Methods For Enhanced Delivery of Antiviral Agents.”  It joins the ranks of previously issued patents in Australia, India, Japan, and the EU, even as similar patent applications for skin-based delivery of DehydraTECH formulations remain pending in many other countries.

“This will be our 25th patent granted worldwide and another validation of the versatility of our DehydraTECH drug delivery technology,” noted Chris Bunka, Lexaria’s CEO, during the announcement of the company’s first-ever patent for the use of DehydraTECH technology in the enhanced delivery of antiviral drugs (https://cnw.fm/doNmo).

In Lexaria’s 2018 study, DehydraTECH-CBD demonstrated almost a 1,900% increase in CBD permeability through human skin compared to a control formulation that was devoid of any commercial penetration enhancements. When pitted against the best-performing commercial penetration enhancer, DehydraTECH-CBD still proceeded to be 225% more effective at penetration through the skin, making it the fastest for absorption into the epidermis, dermis, and through the skin.

The cosmeceuticals market is projected to hit $95.75 billion by 2030, up from $45.56 billion in 2021. In addition, the global skincare market is estimated to post a CAGR of 4.6% by 2030, up from $130.5 billion in 2021 (https://cnw.fm/Nz4ww). Lexaria recognizes the opportunity therein. This patent inches the company closer to taking advantage of this booming market, allowing it to curve out a niche for itself and establish a market presence, mainly bolstered by its patented DehydraTECH technology.

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Report from White House Draws Attention to Law Enforcement Concerns on Marijuana

Cannabis policing has been an extremely controversial issue in American history. While the war on drugs was ostensibly launched to cripple the criminal organizations behind the illicit drug trade, Black and Brown communities were disproportionately affected by the antidrug campaign. Decades later, the drug war has decimated marginalized communities for minor drug charges and has long been declared an unmitigated failure.

Even though the move to legalize cannabis across the country has been praised by criminal and racial justice activists, the cannabis reform movement hasn’t received everyone’s support. The White House recently issued its annual drug enforcement report to Congress and highlighted several concerns that law enforcement has regarding America’s growing state-level cannabis industry. For instance, the report outlined police concerns about burglaries and robberies in states with legal cannabis markets.

Although cannabis is now legal in more than 30 states, it remains a controlled substance at the federal level. This has largely prevented the state-legal cannabis industry from accessing crucial financial services, such as banking and cashless payment systems, forcing it to operate on a mostly cash-only basis.

Unfortunately, this has made cannabis dispensaries an attractive mark for criminals looking for establishments with plenty of physical cash and movable product on hand. In 2022, an explosion of cannabis dispensary robberies led to increased calls for a cannabis banking bill that would finally grant the industry access to cashless payment services.

The report also stated that despite legalization efforts across the country, the illicit marijuana market is still going strong and supplying a large chunk of the cannabis in America. Some pundits expected that legalization efforts across the country would slow down the illicit market, but the state-legal cannabis industry has largely been unable to compete.

On top of denying states tax revenue from cannabis production and sale, the report added that illicit cannabis growers posed a “serious environmental threat.” The report observed that illegal grows polluted water sources and poisoned wildlife through the unregulated use of pesticides, herbicides and fertilizers.

However, legalization experts have long argued that these reports are biased because they are facilitated through the White House Office of National Drug Control Policy (ONDCP), whose statutory mandate is opposing the legalization of controlled drugs such as cannabis.

Marijuana Policy Project (MPP) president Toi Hutchison stated that prohibition is the reason for large-scale illegal cannabis farming, not legalization. She argued that there is little to no illicit production of drugs such as alcohol and tobacco because they are legal under both state and federal law.

In addition, Hutchison noted that prohibition made illicit production more attractive because it drove up production costs and made it almost impossible to compete with illicit sellers.

As more companies such as India Globalization Capital Inc. (NYSE American: IGC) move toward medicalizing cannabis compounds, the discussion on this plant will broaden as growing numbers of people seek FDA-approved treatments made from this divisive substance.

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 — US Border Patrol Sees 95% Drop in Cannabis Seizures as Legalization Spreads

Marijuana seizures at the borders dropped significantly in 2022, an implementation shift that solicitors attribute to the legalization movement at the state level. Border marijuana confiscations have dwindled drastically in the last 10 years, from 2million pounds in 2012 to a little more than 150,000 pounds in 2022.

Several factors may possibly explain this, including one being a shift in priorities for the enforcement agencies, though experts deem the trend as reduced demand for smuggled illicit cannabis as more states moved to legalize cannabis. In 2014, maiden recreational marijuana shops were opened in Colorado and Washington, starting a reform currently being implemented in 21 U.S. states for adult-use legalization.

In the initial two months of FY 2023, officers seized 17,000 pounds of cannabis, with their November tally being the lowest amount captured at a little more than 7,000 pounds. Surprisingly, in the same month in 2020, officers arrested individuals for possession of close to 62,000 pounds of marijuana.

Also, aligning with other studies, the reports showed a significant reduction in cannabis seizures at checkpoints since 2016 where there were 70,000 pounds of marijuana seized by the border authorities, in comparison to 31,000 pounds in 2020.

The Uniform Crime Reporting (UCR) system of the FBI shows a significant drop in cannabis drug busts at the local and state level even as more states enact reform. However, the validity of FBI’s data has been questioned over the alleged confusion among enforcement agencies on how to report this.

In last year’s report, the Congressional Research Service said that the spread of legal cannabis together with efforts on the international reform side reduced the demand for illicit marijuana specifically from Mexico.

In its budget performance summary for FY 2023 given to Congress, the Drug Enforcement Administration acknowledged that as the production of marijuana goes up in the United States, it is frustrating the trafficking of illicit cannabis across the southern border (Mexico). Research published in 2018 by Cato Institute also discovered that legalizing marijuana at the state level greatly undermined the smuggling of marijuana.

As more and more states vote to legalize cannabis, marijuana cases on the federal front also have been on a downward spiral. This was part of a report released last year by the Sentencing Commission of the United States (USSC). Also, drug-related crimes that were prosecuted federally increased in 2019, but marijuana cases dropped, according to a report released by Supreme Court Chief Justice John Roberts at the end of last year.

As legalization spreads to more states in the coming years, the demand for financing from entities such as REZYFi Inc. is likely to grow as licensed companies work to meet the demand generated in those newly launched cannabis markets.

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 – InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces Key Milestones, 2023 Business Outlook

InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, today outlined key accomplishments from 2022 and provided a business update and catalysts for 2023. “Over the course of 2022, we strengthened our position as a leader in rare cannabinoid R&D, creating a unique offering as the only company that has the breadth and depth in cannabinoid drug research, development and significant manufacturing know-how,” said Eric A. Adams, InMed president and CEO. “Despite the many economic pressures affecting businesses on a global scale, including challenging capital markets, particularly in biotech, InMed was able to advance its programs and achieve a number of key milestones. As we move forward into 2023, we are very encouraged by the strength of our pharmaceutical programs, with several material milestones anticipated in the coming quarters.”

To view the full press release, visit https://cnw.fm/KK52u

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development and manufacturing of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. The company also has significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, visit www.InMedPharma.com.

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

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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