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 — Governor Beshear Signs Order Partially Legalizing Medical Cannabis in Kentucky

Lawmakers in Kentucky, a state with one of the most restrictive cannabis laws in the country, have taken the first steps to loosen its marijuana policies. Kentucky Governor Andy Beshear recently signed an executive order that legalized the possession and consumption of medical marijuana by qualifying Kentuckians on the condition that the cannabis was legally purchased outside the state. Qualifying individuals will also be restricted to less than eight ounces of medical marijuana.

Although dozens of states now allow medical and recreational cannabis, 13 states including Kentucky have still banned both medical and adult-use marijuana. In spite of this prohibition, polls have found that a large percentage of Kentucky residents are in favor of legalizing cannabis for medical use.

A multitude of studies have found that cannabis can be effective against a variety of conditions, and more Americans are looking to the plant as an alternative medicine to pharmaceuticals.

Thanks to the newly signed executive order, eligible Kentuckians will now be able to use medical cannabis to alleviate symptoms such as chronic pain, anxiety, insomnia and even lack of appetite. Beshear said that while he would have preferred to pass a bill that would have completely legalized medical cannabis and launched a regulated market, the Kentucky General Assembly’s failure forced him to take executive action.

Given that nearly 40 states have legal medical marijuana markets and a majority of Kentuckians support medical cannabis legalization, Beshear stated that he was doing what he could to ensure patients who need the drug for a better quality of life can access it. He also said that residents who have been diagnosed with chronic and terminal illnesses who were previously barred from legally accessing medical cannabis will now be able to get the drug without a risk of criminal prosecution.

Beshear’s executive order will take effect on Jan. 1, 2023.

Patients who are afflicted with any of the 21 qualifying conditions listed will be protected from criminal persecution if they possess up to eight ounces of medical cannabis if they can prove that it was purchased in a licensed dispensary from out of state. These qualifying conditions include post-traumatic stress disorder (PTSD), multiple sclerosis, muscular dystrophy, terminal illness and cancer.

To qualify for protection under the executive order, patients will need licensed physicians to certify that they have been diagnosed with one of the qualifying conditions.

When legalization eventually happens, there is a possibility that residents may be allowed to grow their own cannabis and leverage modern cultivation equipment commercialized by the likes of 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 — Florida Commissioner to Appeal Dismissal of Case on Gun Rights of Marijuana Users

Nikki Fried, the outgoing agriculture commissioner in Florida, has said that she is going to appeal against the dismissal of a case she filed earlier this year regarding the gun rights of patients registered with the state’s medical marijuana program. In that suit, she and the plaintiffs argued that it was wrong for medical cannabis patients to be denied the right to buy and own firearms.

This was a violation of second amendment rights, the lawsuit argued. However, the presiding judge, Allen Winsor, dismissed the case arguing that federal law took precedence over state law and that the voter measure that was approved in 2016 couldn’t legalize what the federal government still deemed illegal.

The Department of Justice had submitted, in its defense, that federal law was clear on which categories of people aren’t allowed to purchase or own firearms. That includes individuals who use drugs that are prohibited by federal law, such as marijuana.

The judge wrote that while Floridians think that they legalized the medical use of marijuana in 2016, they actually did not since a state cannot override what federal law stipulates. The court was therefore of the opinion that registered medical marijuana patients cannot say their second amendment rights are being violated when it is clear that these individuals aren’t allowed to buy firearms since they consume a substance or drug that is illegal under federal law.

Fried has vowed to appeal against this court decision. It should be noted that Fried is the only Democrat to have been elected by the entire state. She is the agriculture commissioner of the state but is set to relinquish her office after she participated in, and lost, the race to be governor of the state. She has distinguished herself as a committed advocate of medical marijuana and had vowed to use her office as governor (if elected) to push for ending marijuana prohibition in the state.

This case in Florida is an example of the disconnect between federal law and state-level policies. Many other states that have legalized marijuana in some way also have similar contradictions, and the lawsuit in Florida is likely to be followed with a keen eye by advocates elsewhere alongside marijuana industry actors such as American Cannabis Partners, since its outcome could either encourage similar lawsuits to be instituted in other states or place a speed bump in the way of those working to chip away at the different manifestations of prohibitionist laws and policies.

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

About CNW420

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

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Launches Animal Study to Evaluate Potential Therapeutic Effect of DehydraTECH-CBD on Dementia

  • Lexaria Bioscience has launched DEM-A22-1, its first-ever study to investigate whether its patented DehydraTECH(TM)-processed CBD may have therapeutic use against dementia
  • The animal study will involve a total of 32 Long Evans rats and will involve a memory assessment test that will be utilized to investigate whether CBD enables cognitive performance enhancements
  • Previous independent studies have shown that CBD prevents the development of a social recognition deficit, a symptom frequently reported in Alzheimer’s disease patients, and is linked to memory impairment
  • The laboratory work is expected to complete January 2023, with data and reporting to follow likely in April 2023

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, is working on implementing its commercial strategies around the highly patented DehydraTECH(TM) drug delivery technology, with these strategies firmly anchored in and driven by R&D studies. According to company CEO Chris Bunka’s letter to shareholders, the company’s plans for 2022 included the launch and completion of several major applied studies as well as many smaller programs (https://cnw.fm/1il5f).

In line with these plans, the company has so far launched – and announced the successful results of – its most comprehensive hypertension study yet, HYPER-H21-4 (https://cnw.fm/AQxd2), and has received an Independent Review Board (“IND”) approval to commence its planned human oral nicotine study (https://cnw.fm/s38hW). At the same time, Lexaria has also set out to study the effect of DehydraTECH-processed cannabidiol (“CBD”) on diabetes and, more recently, announced it would commence its study program DEM-A22-1.

A dose-ranging, two-month program involving 32 Long Evans rats dosed with DehydraTECH-CBD, DEM-A22-1 is Lexaria’s first-ever study to investigate whether DehydraTECH-CBD may potentially have therapeutic utility against dementia. It will be undertaken by a leading, third-party testing lab in Canada, with the laboratory work expected to complete in late January 2023 and results reported likely in April 2023. “The study is a novel object recognition test which is widely used to assess memory in rodents, and is being utilized to investigate whether CBD enables cognitive performance enhancements in this model, potentially of utility in dementia treatment,” the company’s November 10 press release explains (https://cnw.fm/LYhmB).

CBD has been the subject of many studies evaluating the effects of the compound on neurogenerative diseases and dementia (https://cnw.fm/BEeqX). One such study, published in 2014 in the Journal of Alzheimer’s Disease, demonstrated CBD’s ability to prevent the development of a social recognition memory deficit in AD (Alzheimer’s disease) transgenic mice (https://cnw.fm/cmEtO).

Social or facial recognition memory reflects the ability of social animals – including mice – to recognize and remember familiar individuals of the same species (https://cnw.fm/LEbMA). A deficit, therefore, reflects an inability to recognize familiar faces. Face or social recognition deficits are frequently reported in patients with AD and are attributed to memory impairment. Therefore, the findings from the 2014 study suggest that CBD prevents the development of this symptom.

For Lexaria, however, such findings are only part of the key motivators to commence the animal study on dementia. Others include the fact that the company has previously conducted efficacy studies evaluating DehydraTECH-CBD in humans with hypertension, revealing that the compound does not have any severe side effects and lowers human blood pressure (“HBP”). Coincidentally, a causal relationship exists between HBP and a type of dementia called vascular dementia – people with HBP are more likely to develop vascular dementia because of HBP-induced reduced blood flow to the brain.

Moreover, the company has demonstrated in animal studies that DehydraTECH-CBD crosses the blood-brain barrier (“BBB”) much more effectively than originally thought possible. Ordinarily, the BBB blocks entry into the brain of most drugs in circulation, making it difficult to develop treatments for brain diseases. By crossing this barrier, however, DehydraTECH-CBD lends itself to science as a potential treatment for brain diseases such as dementia.

Against this backdrop of favorable conditions, Lexaria is excited to investigate whether DehydraTECH-CBD might have some therapeutic benefits on dementia. The move and results, if positive, will usher the company into a burgeoning dementia drug market that analysts at Acumen Research and Consulting project will grow from $15.5 billion in 2021 to an estimated $32.3 billion by 2030, representing an 8.7% CAGR from 2022 to 2030 (https://cnw.fm/AFahm). 

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 CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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420 with CNW — 2020 Marijuana Possession Arrest Statistics Raise More Questions Than Answers

FBI records show that 317,793 individuals were arrested inside the United States for possessing marijuana in 2020. Given that 19 states allow recreational marijuana to be sold and consumed by adults, these FBI figures bring plenty of questions to mind.

First, the data seems to suggest that the number of people who were arrested for possessing marijuana declined, yet again, from the number of arrests made in previous years. For example, at least 500,000 people were arrested for possession of marijuana in 2019. If the number for 2020 is just over 300,000, what is the problem?

The problem is that 2020 was also the year when COVID-19 wreaked havoc on the world, and almost the entire globe was locked down. This means that there was little contact between police officers and people, and that would suggest that arrests overall should have declined dramatically given that people were isolated in their homes due to stay-at-home orders and closed workplaces. It is not easy to conclude that on the whole, fewer marijuana possession arrests were made in 2020 in comparison to previous years.

The other question one immediately thinks of has to do with the reliability or even accuracy of that 2020 FBI data. From the 1980s, the FBI created a new system through which different police departments from around the country could report crime statistics. That system, abbreviated as NIBRS, aims to among other things make reported data more detailed than the data captured by the previous system, which only reflected the most serious offense for which an individual had been arrested. For example, if an individual was arrested for illegal gun possession and also for criminal trespass, the gun possession charge would be the only one reflected in the data captured by the FBI. The new system was designed to change this and gather data on all offenses for which arrests were made.

How does all this connect to marijuana? The transition to the new reporting system has been woefully slow, and the FBI allowed police departments to use both systems until 2021, when it put its foot down and stopped using the data in the old system. Leaving 2021 data aside, to what extent was the FBI report of 2020 reliable given that it depended on data from two reporting systems? Could there have been cases of double entry of data? Could there have been cases of data not entered at all into either system?

The case of Florida puts this question into perspective. In 2020, the state documented more than 170,000 cases of cannabis possession. In 2021, and with no changes to its laws, the state reported just 104 possession cases. Should this data be taken seriously?

Anyone interested in tracking how laws around marijuana have been evolving and how that affects various issues, such as the reasons why people are arrested, would want accurate and reliable data to draw valid conclusions. Even cannabis industry actors such as Prime Harvest Inc. want to know how various social justice matters are evolving as legalization spreads. The latest figures from the FBI are raising more questions than answers.

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

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 — Incoming Governor Says Cannabis Legalization Could Happen in Minnesota

During a recent radio appearance, incoming Minnesota governor Tim Walz suggested that state lawmakers could pass a recreational cannabis measure in the next legislative session. The Democrat said during the Friday morning show on WCCO that cannabis in Minnesota could finally happen in 2023.

Senate Democrats have not stated outright that they will advance cannabis legalization, but they have majority numbers and will be able to go around any pushback offered by GOP senators. On the other hand, House Democrats seem to be ready to approve marijuana legalization in the state if the matter lands on the floor.

House Speaker Melissa Hortman recently told reporters that the House was in favor of approving recreational cannabis and would pass a legalization bill. Governor Waltz said during the podcast that former governor Jesse Ventura would be invited to any bill-signing ceremonies that may occur in the future. He said that it would be important to recognize Ventura, who began talking about cannabis legalization in 1998, long before most states were even considering legalizing cannabis.

Waltz said that allowing cannabis sales and use by adults “just makes sense,” stating that drug prohibition did not work and that crafting better rules and regulations would be a much better way to tackle the issue.

Last year, the Minnesota House approved a legalization measure that would allow recreational marijuana in the state for adults aged 21 and older. The measure would also expunge low-level, cannabis-related convictions, and issue small businesses with loans and grants to allow them to enter the cannabis industry. Minnesotans would also be allowed to hold up to 10 pounds of marijuana at home and up to 2 ounces in public.

Unfortunately, the 250-page bill failed to advance past the Republican-controlled senate. Now that Democrats have secured control of the House, Senate and governor’s office, it is extremely likely that the state will pass some kind of cannabis legalization bill in the near future.

Public opinion on cannabis has been improving across the state, with a recent survey by Star Tribune finding that 53% were in favor of last year’s legalization measure, 36% did not support cannabis legalization and 11% were unsure.

Unsurprisingly, younger Minnesotans as well as Democrats tended to have more support for legalizing marijuana compared to older Minnesotans and Republicans.

Allowing recreational cannabis sales in Minnesota could generate more than $1 billion in sales and hundreds of millions of dollars in tax revenue as well as create 20,000 new job opportunities for Minnesotans.

In more mature cannabis markets, entities such as REZYFi Inc. are helping licensed cannabis companies obtain the financing they need to expand, develop new products and generally contribute to the communities they serve.

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 – Advanced Container Technologies Inc.’s (ACTX) Grow Pods Provide Optimal Environment for all Crops

Advanced Container Technologies (OTC: ACTX) is in the business of developing, manufacturing and selling advanced cultivation equipment, proprietary packaging systems, and a variety of other products to help businesses and entrepreneurs enter or expand in the rapidly growing cannabis and hemp markets. “The company is the exclusive U.S. distributor for Grow Pods, which are advanced, self-contained hydroponic containers that are essentially micro-farms. These containers feature a controlled, specially filtered environment that allows crops to be grown year-round with a smaller footprint because the pods use less water and power than more traditional growing systems,” a recent article reads. “Grow Pods offer constant temperature, humidity and airflow control, as well as automated watering and lighting schedules for optimal growth and minimal labor requirements, making the pods ideal for all crops. However, they are capturing a great deal of attention in the cannabis and hemp space. With strict growing, harvesting and packaging regulations in place throughout the cannabis industry, ACTX offers a controlled environment that allows compliance in all aspects.”

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

About Advanced Container Technologies Inc.

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

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

About CannabisNewsWire

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

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

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REZYFi, Inc. Continues to See Opportunity in Serving Cannabis-Related Companies Amid Marijuana Rescheduling Efforts in the US

  • REZYFi is a Miami, Florida-headquartered growth mortgage origination and specialized financing company that primarily targets licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies
  • Traditional banks are governed by federal law, which criminalizes marijuana; as a result, they are hesitant to offer financial services to cannabis businesses
  • The President recently set a process in motion that could culminate in the rescheduling of marijuana, although given that this review will not actually decriminalize the substance, the status quo, which disadvantages cannabis companies, will remain
  • REZYFi believes cannabis-related companies will continue to experience difficulties accessing financing from traditional banks, presenting a major opportunity

Last month, the President called for marijuana rescheduling by directing the Secretary of Health and Human Services and the Attorney General to “initiate the administrative process to review expeditiously how marijuana is scheduled under federal law” (https://cnw.fm/bMbfB).

Currently, marijuana is classified in Schedule 1 of the Controlled Substances Act of 1970, a category reserved for drugs that, according to the US Drug Enforcement Administration (“DEA”), have a high potential for abuse with no accepted medical use (https://cnw.fm/X32lP). In rationalizing his October 6 announcement, the President noted that “this is the same schedule as for heroin and LSD, and even higher than the classification of fentanyl and methamphetamine – the drugs that are driving our overdose epidemic.”

As consequential as the announcement might be, a recent article in MJBizDaily notes that this order has unleashed “a very long, very complex, and very unpredictable force on the world that might yet wreak unintended havoc” (https://cnw.fm/UXp5O). This is because of the many unknowns associated with the move. For instance, it could enable struggling American marijuana firms to enjoy tax relief under Section 280E of the federal tax code. At the same time, however, large pharmaceutical companies could be incentivized to enter the cannabis industry, usurping business from existing but smaller players.

Moreover, at a legislative level, an act of Congress could cancel out the recommendations that emerge from the review process. And even if the rescheduling were successful, there are cons associated with each new schedule under which marijuana could be classified. For instance, the MJBizDaily article notes, rescheduling marijuana as a Schedule 2 drug will mean that cannabis companies will have to endure the arduous and expensive FDA approval process before their products can enjoy legal relief. Moreover, a new Schedule 3 or 4 status will still require FDA approval even though the cannabis industry is not designed to comply with it. Finally, reclassification to Schedule 5 will only permit marijuana’s use for medical purposes and not responsible recreational use.

Nevertheless, regardless of whichever schedule marijuana falls under post-rescheduling, the review, as is, will not decriminalize the substance. And as a result, the status quo, which sees cannabis-related companies struggle to obtain financing from traditional banks, may remain. (Traditional banks abide by federal law, which currently criminalizes marijuana use.) This presents a gap that REZYFi and its wholly owned subsidiaries, REZYFi Lending and ResMac, have sought to fill. In fact, REZYFi believes cannabis-related firms will continue to experience difficulties obtaining financing from traditional sources – the rescheduling efforts notwithstanding – creating opportunity for the company.

REZYFi is a growth mortgage origination and specialized financing company headquartered in Miami, Florida. The company primarily offers a variety of real-estate-related first and additional mortgage-based financing and project-specific financings to licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies. Through REZYFi Lending, the company provides specialty lending, cannabis commercial lending, and cannabis working capital letter of credit (“LOC”). On the other hand, it offers correspondent, retail, and wholesale mortgages through ResMac.

REZYFi believes the demand for innovative financing offerings by players in the cannabis market will continue to grow as more geographic markets legalize recreational and medical cannabis usage, a belief that has fueled its expansion within the United States. Currently, REZYFi is licensed in 36 states but is looking to expand into additional jurisdictions.

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)

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CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces Close on $6M Private Placement Funding

InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, has closed on a private placement with two healthcare-focused institutional investors. The placement included the sale of 1,818,185 INM common shares, which were issued at a purchase price of $3.30 per share (or prefunded warrant in lieu thereof); the shares were priced at-the-market under NASDAQ rules. The announcement also noted that InMed issued unregistered preferred investment options to the investors in the offering to purchase up to 3,272,733 common shares. The offering resulted in approximately $6 million in gross proceeds for the company, which plans to use the funds to continue pipeline development of its pharmaceutical drug candidates as well as advance manufacturing know-how of cannabinoids and cannabinoid analogs; the company may also use portions of the proceeds to support intellectual property development and other commercial activities and for general working capital purposes. According to the announcement, H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

To view the full press release, visit https://cnw.fm/YjKA9

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, 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, please 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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420 with CNW — Marijuana Research Bill Heads to Biden’s Desk After Senate Approval

Only a few weeks have passed since President Joseph Biden directed that a medical review be conducted on the categorization of marijuana in the Controlled Substances Act and also issued mass pardons for simple cannabis possession convicts. Now the upper chamber of Congress has approved a bill easing marijuana research, and that bill is headed to the president for enactment.

The passage of this bill is notable because it is the first time that a bill focused on marijuana policy reform has succeeded and been forwarded to the president. Before the vote was cast on the Senate floor, Majority Leader Chuck Schumer mentioned that there were ongoing productive discussions on broader marijuana reforms that could be passed during this lame duck session of Congress.

H.R. 8454, or the Medical Marijuana & Cannabidiol Research Expansion Act, was introduced in July this year in the House of Representatives. Its progress was swift in the lower legislative chamber, and it was then sent to the upper legislative chamber where it was passed last week.

It should be noted that this bill would have been passed earlier in the Senate, but one lawmaker, Senator John Cornyn (R-TX), held it up in September by objecting to the expedited way in which the legislation was being handled with agreement from both sides of the political divide. Cornyn’s objection wasn’t premised on anything within that law, but he was in a way protesting against the failure to handle other pieces of legislation that he had interest in. His hold was terminated last week, and the bill was then put to a vote

Rep. Earl Blumenauer, a Democrat from Oregon, was one of the House sponsors of this law. He revealed that the need for compromise led him to accept the removal of a provision granting researchers permission to use marijuana sourced from the same state-legal dispensaries that consumers access their marijuana from. The motivation for this clause was to allow the findings of any research conducted to depict as closely as possible the real-world benefits or side effects if any that consumers are exposed to when they use the marijuana currently available in jurisdictions where it is allowed.

This law imposes a 60-day timeline within which the attorney general can approve an application for a proposed study or write to the applicant asking for additional information prior to making a decision on the matter. It also makes it easier for scientists and researchers to gain access to larger volumes of marijuana for research purposes. Physicians will also be able to discuss medical marijuana with patients in states where marijuana is legal, among other reforms that the bill proposes.

It remains to be seen by industry actors such as Flora Growth Corp. (NASDAQ: FLGC) how the passage of this law translates into tangible benefits as they conduct their own R&D programs aimed at better serving the consumers in the markets where they operate.

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

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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 — Marijuana Legalization’s Chances Improve in Pennsylvania as More Democrats Join House

Cannabis legalization activists in Pennsylvania have taken one step closer to potentially legalizing the drug after Democrats claimed a majority in the House. Democrats have been major supporters of cannabis legalization, as they are with most progressive issues, and the members of the left have been responsible for crafting several legalization measures.

One of the many issues legalization proponents have had to deal with is Republicans who staunchly opposed allowing cannabis for medical or recreational use. Now that Pennsylvania Democrats recently announced that they had secured enough seats in the midterms to effectively take control of the House, the chances of activists successfully passing cannabis legislation have increased significantly.

The odds of legalizing cannabis in the state are even higher because the newly elected governor has publicly declared support for legalizing cannabis. Pennsylvania Democrats revealed that even though votes were still being counted, they were only one member shy of achieving a 102-member majority in the House. And although Republicans retained control of the Senate with a 28 to 22 majority, experts hope that the change of guard in the House could shift the winds in favor of cannabis legalization. In the past, Pennsylvania Republicans have repeatedly held back efforts to legalize cannabis in both chambers of the House.

Outgoing Governor Tom Wolf criticized the GOP for preventing cannabis reform on numerous occasions, calling on GOP lawmakers to legalize cannabis in 2020 and stating that such a move would generate plenty of tax revenue and promote social justice. He noted at the time that a majority of Pennsylvania residents support legalizing recreational cannabis.

With a new Democratic governor and a Democrat-controlled House, cannabis may be legalized in the state in the near future. One way this could play out is if Governor-elect Josh Shapiro pushes for marijuana reform in the 2023 session and steps up pressure on the Senate to prevent it from standing in the way of cannabis reform.

Even though we still don’t know who among the GOP lawmakers will lead the senate, there is a good chance that it could be progressive lawmakers such as Senators Dan Laughlin and Mike Regan, who have pushed for marijuana reform in the past.

Successful reform would require the support of at least four GOP senators as long as all Democrat senators support the legislation. Alongside senators Laughlin and Regan, another GOP that may support cannabis legalization in the state of Pennsylvania is Senator Tracy Pennycuick.

The struggle to enact reforms is a protracted and lengthy one, as companies such as American Cannabis Partners have observed in so many jurisdictions. The road ahead may therefore not be straight forward for Pennsylvania reform activists despite the more favorable structure of the state legislature.

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

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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