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 — Senior Living Facilities at Crossroads as Marijuana Laws Change

As more states legalize cannabis, residents of senior living communities are using the substance more and more, and this is putting the operators of those facilities in the spotlight regarding how they respond to this reality.

At the moment, marijuana is categorized as a schedule 1 substance, the same category as heroin, MDMA, LSD and cocaine. While President Joseph Biden instructed the attorney general and the health and human services department to review this categorization, the law is the law, and marijuana users are still regarded as criminals. Public opinion has changed sharply on this matter, and pressure is mounting to allow cannabis to be used medically and recreationally.

For senior living facilities, the legalization of marijuana in 37 states has created some leeway for the management at those facilities to come up with policies guiding the use of the substance. Some facilities have opted to do nothing and ask no questions about the use of marijuana by the residents in their communities. This group is taking a big risk because legal and other issues can arise when the facility doesn’t have any guidelines in place. For example, what would happen if a resident sued a neighbor in the community for using marijuana on the premises?

Other facilities, such as Silvarado, which operates senior living locations across several U.S. states from one coast to the other, have opted to allow their residents to use marijuana in states where the substance is legal. They say that anecdotal reports indicate that medical marijuana is of some help to patients with memory loss issues, such as Alzheimer’s.

Surveys also show that baby boomers are increasingly turning to cannabis for relief from various symptoms, including insomnia, chronic pain and anxiety. This means that senior living facilities will sooner or later have to consider what position to take with regard to marijuana use within their communities since more and more of their residents will be using or consider using marijuana, whether for recreational or medical purposes.

The executive order mandating the review of marijuana’s status in the Controlled Substances Act is one of the many steps and processes that may need to be performed before any changes can be made. The United States Drug Enforcement Administration (DEA) is likely to have a big say in any recommendations made at the conclusion of the review and how those recommendations are to be implemented. It may be several years before senior living communities and companies with interest in the marijuana industry, such as Advanced Container Technologies Inc. (OTC: ACTX), have a clear answer as to what policy direction is likely to emerge from the review process.

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 — Colorado Rakes in Billions in Marijuana Sales a Decade After Legalization

Cannabis has proven to be one of the most resilient and profitable products on the market in recent years. Despite being barely more than a decade old, America’s state-legal cannabis industry has generated billions of dollars in revenue and created hundreds of thousands of job opportunities.

The industry’s rise has been so prolific that cannabis has been dubbed the fastest-growing industry in the United States. However, profits in the state-legal market haven’t been spread equally among participating markets, with some states seeing a lion’s share of the industry’s profits. Colorado, for instance, was among the first states in the cannabis industry to launch legal cannabis markets a decade ago.

Ten years later, the state reports that its marijuana industry has generated an astounding $13.4 billion in sales and provided the state with $2.2 billion in taxes. Brian Vicente, codirector of the campaign that pushed for the legalization of cannabis in Colorado, says that the industry has been an “unqualified success.”

Colorado’s move to legalize cannabis had a domino effect across the country, leading other state leaders to examine their own cannabis policies and launch cannabis markets. Mason Tvert, another codirector, stated that the passage of Amendment 64 inspired plenty of discussion on cannabis policies and caused both U.S. and foreign leaders to take another look at their marijuana policies. Seventeen states as well as the District of Columbia legalized cannabis in the years after Oregon and Washington State approved legalization initiatives, and Tvert says many states leveraged the campaign and policy playbook that activists had first used in Colorado.

Passing Amendment 64 was a herculean task for the activists and lawmakers behind the initiative. Vicente and Tver began building support for cannabis reform in the mid-2000s, running into consistent resistance and opposition. Their first attempt at passing a legalization initiative failed at the polls, with Vicente saying that the issue of cannabis legalization faced “robust and stern opposition” from nearly every level of the government.

Even so, the activists behind Amendment 64 credit lawmakers for implementing the bill once it was approved by voters. The amendment allowed Colorado to generate billions of dollars in revenue and created thousands of new jobs. More importantly, the taxes levied on cannabis sales have been used to fund public schools or have gone to Colorado’s marijuana fund, where it is then used to fund different programs in health education, healthcare, law enforcement, treatment programs and substance-abuse prevention.

All these achievements in Colorado and elsewhere in the country have been realized despite the industry lacking access to mainstream lending and instead turning to alternative financing sources such as REZYFi Inc. in a bid to bridge the funding gaps as they grow or expand.

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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Zacks SCR Uses Lexaria Bioscience Corp. (NASDAQ: LEXX) HYPER-H21-4 Study to Support $15 Share Valuation

  • Lexaria’s HYPER-H21-4 human clinical study was a success, producing favorable results in treating hypertension when comparing the company’s patented DehydraTECH(TM) CBD with a placebo
  • According to a Zacks SCR report, the findings support their $15 share valuation of the company
  • Zacks expects Lexaria to penetrate global markets for hypertension, nicotine delivery and antiviral products
  • The hypertension drug market is expected to grow to over $34 billion through 2030, with North America anticipated to hold 35% of the market share

According to the World Health Organization (“WHO”), approximately 1.13 billion people worldwide suffer from hypertension (high blood pressure), with only one in five being treated or under control. The hypertension drug market size in 2021 was valued at $25,394 million and is expected to grow at a CAGR of 3.4% through 2030, resulting in an estimated value of $34,072 million. The North American market is expected to lead with more than 35% of the world market share (https://cnw.fm/H78Yx).

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently released impressive results from its fourth and most comprehensive hypertension study, HYPER-H21-4. The study, structured as a randomized, double-blind, placebo-controlled cross-over study, dosed 66 male and female volunteers between the ages of 40-70 with stage 1 or 2 hypertension, comparing the company’s patented DehydraTECH(TM) cannabidiol (“CBD”) against a placebo. The study showed patients receiving placebo doses trended toward increases in blood pressure (“BP”) during the period of the study compared to baseline, while the average BP measured by each of mean arterial BP, systolic BP and diastolic BP significantly decreased from baseline when dosed with DehydraTECH-CBD; and those decreases were maintained during the full 5 weeks of dosing  – with no serious adverse events or hepatic changes occurring (https://cnw.fm/weVKO).

Lexaria’s DehydraTECH technology is designed specifically for formulating and delivering lipophilic (fat-soluble) drugs and active ingredients, increasing effectiveness and improving the way that active pharmaceutical ingredients (“APIs”) enter the bloodstream. In 2021, animal studies demonstrated that DehydraTECH elevated drug quantities across the blood-brain barrier by as much as 1,700%, which initiated further investigations  and opened the possibilities for improved drug delivery.

The benefits of using Lexaria’s patented technology include the following:

  • Improves the speed of onset, with effects felt in minutes
  • Increases bioavailability by more effectively delivering the drug into the bloodstream
  • Increases brain absorption, with testing suggesting up to 10x improvement
  • Reduces drug administration costs with a higher ratio of drug delivery

Lexaria announced the enrollment for HYPER-H21-4 in an April 19 press release, and dosing began ahead of schedule, with completion on July 27, with no serious adverse events reported as a result of the dosing. The maximum dose levels in the study were roughly 5 mg/kg/day, which is significantly lower than maximum dose levels practiced for other regulator-approved pharmaceutical CBD applications., The company will use data from the study to support its Investigational New Drug (“IND”) application with the FDA.

According to a Zacks Small-Cap Research (“Zacks SCR”) report, the company’s next steps for the hypertension program will be to submit and receive clearance for an IND application, and the application and IND clearance will support the start of the Phase Ib study slated for 2023 (https://cnw.fm/MGc27). Longer term goals for the program are to find a partner who will advance the work to a registrational study and send it to the FDA for approval. While this is several years away, the data that has been released so far is supportive of further development.

Zacks SCR forecasts penetration by Lexaria into global markets for hypertension, nicotine delivery, and antiviral product categories. The Zacks SCR valuation of $15 per share assumes a 2024 regulatory approval and commercialization of DehydraTECH CBD in the United States and developed markets – a valuation maintained throughout the report.

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

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420 with CNW — Biden Praises Cannabis Pardons While Emphasizing That Relief is Only for Possession Charges

Recently President Joseph Biden gave a speech on his administration’s actions to relieve student debt. At the end of his speech, the president talked about his clemency proclamation on marijuana, noting that he recognized the issue’s popularity, especially among young voters.

President Biden stated that he was keeping his promise that no individual should be jailed for possessing cannabis, emphasizing this pardon only applied for possession and adding that these records needed to be expunged. The clemency action, which only impacted resident/legal alien offenders and U.S. citizens who had committed federal marijuana possession offenses, has been criticized by advocates who argue that Biden should have expanded his proclamation to include individuals who sold cannabis.

The president has been discussing his marijuana relief decision this last month, stating at one point that he had changed the lives of thousands of individuals. Recently, he has also indicated that he is not willing to extend the relief to those with convictions related to the sale of cannabis. Activists with the Last Prisoner Project, Sensible Drug Policy and DCMJ have been protesting outside the White House to highlight this issue and request that the president release the thousands currently incarcerated in federal prisons for cannabis convictions that aren’t limited to simple possession.

In a recent interview with Pod Save America, Rep. Alexandria Ocasio-Cortez stated that while the president’s proclamation needed to be applauded, the action was limited because it did not include noncitizens who made up a large portion of federal possession cases. Meanwhile, the Office of National Drug Control Policy praised the president’s move to issue a mass pardon and order that an administrative review of marijuana’s scheduling status be conducted. This comes after the president called attention to the fact that medical benefits of marijuana did exist, noting that they shouldn’t be ignored due to unrelated concerns about its use by the youth.

The Department of Health and Human Services and the Department of Justice have announced that they are both committed to conducting the review as directed, with Health Secretary Xavier Becerra stating that officials would work quickly to conclude the analysis, as per the president’s directive. The review could cause marijuana to be placed in a lower schedule or be removed from the scheduling list completely, which would legalize the plant under federal law.

The Justice Department also issued a statement, noting that it would administer Biden’s proclamation swiftly and help restore civil, political and other rights to individuals convicted for the simple possession of cannabis.

As these systemic wrongs are corrected, the ultimate shift would be to end prohibition once and for all so that entities such as Flora Growth Corp. (NASDAQ: FLGC) don’t have to walk a tight rope between federal and state marijuana policies.

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.

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420 with CNW — NIDA Director Says Drug War Resulted in Structurally Racist Systems

National Institute on Drug Abuse (NIDA) director Nora Volkow isn’t one to mince her words, and her recent utterances about the effects of the failed war on drugs are stirring debate about how much longer the federal government can remain inactive on matters of ending cannabis prohibition.

During an interview by NIH Medline Plus Magazine, the NIDA director said that the criminalization of individuals who use drugs has had the effect of creating structurally racist systems which have allowed society to treat some sections of the population, especially Blacks, in a way that is worse than the way in which other segments of the population are treated. This candid admission from the top federal government official has attracted the attention of reform advocates, including Zachery Siegal, who tweeted that Volkow recognized and straight-up stated that criminalizing drug use is actually harmful to those who use drugs.

Volkow also mentioned that criminalizing addiction and jailing those dealing with addictions has far-reaching effects on those individuals. These effects can impact mental as well as physical health, disruption of families and inability to find suitable employment, as well as crushing the self-confidence of those impacted. The insurance system, the healthcare system and communities are all affected by the criminalization of drug use. Volkow also reiterated that the federal agency that she heads is working to address those issues.

In the interview, Volkow also discussed the upcoming rebranding of NIDA from the National Institute on Drug Abuse to the National Institute on Drug Addiction. She emphasized that the change was intended to move away from using a word with negative connotations (abuse) to one that recognizes the situation as a health problem (addiction).

The NIDA director stated that stigma surrounding drug use has penetrated every sphere of society. For example, people remain silent about substance-use problems because they fear going to jail or being shunned and blamed by the community. Insurers also aren’t willing to fund needed treatment, and healthcare systems don’t devote ample human and financial resources to the matter because they see it as an individual’s poor choice or a criminal matter.

It should be noted that Volkow saw a family member struggle with addiction, which prompted her to specialize in psychiatry research. Her acceptance of the NIDA job was motivated by her desire to contribute toward changing the way in which substance use and addiction are handled at a national and policy level. Volkow has been vocal on several occasions about the problems triggered by the current policies on drugs. Her agency has published notices indicating that funding is available for various drug-related programs, such as exploring various models of regulating marijuana.

The efforts of NIDA and other such progressive federal agencies are in their own way contributing to ending prohibition, and a time will come when companies in the cannabis space, such as Prime Harvest Inc., are legally recognized as legitimate businesses by the federal government.

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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CannabisNewsBreaks – Advanced Container Technologies Inc.’s (ACTX) GrowPods Allow Farmers to Spice It Up

Advanced Container Technologies (OTC: ACTX) offers unique controlled environment farms, GrowPods, which can allow growers to start cultivating in-demand, high-margin specialty herbs and spices. The U.S. market for fresh culinary herbs is growing. According to the U.S. Agency for International Development, popularity of leafy plants such as basil, cilantro and parsley that add flavor, aroma or garnish, increased 10% to 12% annually from 2004 to 2014 and has continued to climb. However, domestic field production does not meet demand, resulting in importation of nearly $300 million worth of leafy plants each year. In addition, domestically produced and imported goods face mounting challenges, such as diseases, droughts and floods, foodborne illnesses, environmental impact and supply chain disruptions. “GrowPods allow farmers to cultivate high-margin, in-demand herbs, year-round, with reduced resource consumption and rapid harvest times,” said Doug Heldoorn, CEO of ACTX. “These highly efficient systems can not only provide farmers the ability to quickly enter new markets but can also provide a year-round income stream.”

To view the full press release, visit https://cnw.fm/qU5ET

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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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces First-Ever Study Exploring Therapeutic Use of DehydraTECH-CBD in Dementia

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, is starting a new study program — DEM-A22-1 — on Nov. 15, 2022. The study, a first for Lexaria, will evaluate whether LEXX’s DehydraTECH-processed cannabidiol (“CBD”) may have potential for therapeutic treatment for dementia. According to the announcement, Lexaria has previously shown the efficacy of DehydraTECH-CBD in studies focused on human hypertension; the studies showed no serious side effects. Lexaria is exploring the potential for dementia based on previous clinical studies that have established connections between hypertension and dementia: specifically, that individuals who have high blood pressure are more likely to develop vascular dementia, which is the second most common form of dementia following Alzheimer’s disease. The new study is a dose-ranging, two-month program evaluating a total of 32 Long Evans rats, which will receive DehydraTECH-CBD. The study will be conducted by a Canada-based, leading, third-party testing lab and is scheduled to be complete by end of January 2023. Additional studies may follow, depending on the results of this first program. Lexaria will provide updates from this study as they become available.

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

About Lexaria Bioscience Corp.

Lexaria Bioscience’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 bioabsorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 27 patents granted and roughly 50 patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com. 

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

About CannabisNewsWire

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

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

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Specialized Market Lender REZYFi, Inc. Believes They Have Real Opportunity Amid Challenges Faced by Traditional Lenders

  • While economies worldwide are struggling to control spiking inflation rates, REZYFi, a mortgage lender servicing non-traditional as well as other loans, sees unique financial opportunities
  • Through the use of proprietary automated machine learning and associated technologies, together with preparations to launch a high-margin cannabis division later this year to serve an industry in need of loan origination options, REZYFi is working to grow its operation
  • RZFI is licensed in more than 30 U.S. states and expects to expand its loan origination services to all remaining states in coming months

Economic challenges resulting from governmental efforts to tame inflation could in turn create new opportunities for hard-to-finance sector lenders, especially as mortgage rates eventually fall as recently suggested by CNN Business (https://cnw.fm/Ec3NT).

The fight against inflation has delivered successes in the United States — what investment bank Goldman Sachs refers to as “remarkable” progress in slowing the US economy and easing the concerning imbalance between supply and demand in the jobs market, though Goldman also warns against going too far in the inflation battle. “Fiscal and monetary policy tightening has so far managed to slow demand growth sharply without accidentally overdoing it and sparking a recession, an impressive achievement,” Goldman Sachs economists stated in a recent note to their clients (https://cnw.fm/SKC5y).

Specialized financing company REZYFi is pursuing a growth strategy cognizant of the economic pressures, preparing to launch a high-margin cannabis division later this year while managing staffing levels and applying proprietary technologies for efficiency. The cannabis industry has historically struggled with obtaining loans and other bank services because of the U.S. government’s continued regulation of the leafy green plant as a highly controlled substance.

State governments have created legalized avenues for the cannabis market in recent years, but the industry continues to hope for better financing conditions, such as those proposed under the Secure and Fair Enforcement (“SAFE”) Banking Act and the Marijuana Opportunity Reinvestment and Expungement (“MORE”) Act that have cleared the House of Representatives and are awaiting a decision from the Senate.

The measures would prevent federal regulators from penalizing banks that serve the cannabis industry or decriminalize cannabis outright (https://cnw.fm/ZOHge).

For REZYFi, all of this has created a significant window of opportunity, of which the company has taken advantage. As a result, the company is now licensed in more than 30 U.S. states, with expectations to expand its loan origination and services to all remaining states.

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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420 with CNW — California Governor Wants Cannabis Farmers to Be Nationwide Suppliers

In a recent video, Gov. Gavin Newsom of California stated that he’d like to see cannabis legalized federally, so marijuana farmers in the state could legally supply the plant to the rest of the country. Under current federal prohibition, commercial exports of cannabis leaving California’s borders are deemed to be illegally trafficked goods.

The video was played at the Oakland International Film Festival, which was held in September 2022. During the festival, activists previewed a documentary on the cannabis reform movement’s local history, which featured the California governor.

Gov. Newsom thanked the advocates for helping the state legalize marijuana in 2016 as well as their leadership. He noted that while the state’s law needed to be improved upon, he looked forward to federal reform that would put an end to federal prohibition. The governor also stated that broader reforms needed to be accompanied by efforts to repair damage done to individuals, families and communities as a result of the war on drugs.

Interstate cannabis commerce will be profitable for the state of California, which has an ideal climate for outdoor growing and will help meet the demand for cannabis in other states.

The state’s governor recently signed a bill that would allow California to enter into agreements with other legal states, in anticipation of interstate commerce in the future. This ability will be set off under the measure once federal guidance or law allows it or if the state’s attorney general guarantees that interstate marijuana trade won’t bring about legal risk to California.

Many hope that permitting interstate commerce will help stamp out the illicit market by decreasing the demand for unregulated products and enabling cultivators to make a living legally.

Meanwhile, Newsom’s administration is praising the efforts of an illegal marijuana enforcement task force that the governor recently established. Thus far, the task force has seized and eradicated $15 million worth of illegal processed flower and cannabis plants, as per the latest state data.

Newsom also talked about marijuana equity, explaining that this would help maintain a diverse industry and level the playing field. For this purpose, officials in the state of California announced in October that the state would be awarding $20 million in grants funded by cannabis taxes to universities conducting studies on marijuana policy and science. This was publicized a few days after officials in the state announced that they’d be accepting applications for grants to support local efforts promoting equity in the cannabis industry.

If interstate commerce is allowed for the marijuana industry, a boom is likely to be experienced even by companies such as Advanced Container Technologies Inc. (OTC: ACTX) that don’t directly deal in marijuana but instead serve actors in the marijuana industry.

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 — Bipartisan Legislators Push Federal Government to Free American Jailed in Russia

Twenty-five members of Congress from both sides of the political aisle have signed a letter requesting President Joe Biden’s administration, and particularly the State Department, to ramp up diplomatic actions aimed at securing the freedom of an American citizen who is currently in a Russian jail for possessing medical cannabis.

The bipartisan letter is spearheaded by Democratic Senator Bob Casey from Pennsylvania, Republican Representative Guy Reschenthaler from Pennsylvania and Democratic Representative Conor Lamb, also from Pennsylvania. The American in question, Marc Forgel, had a 14-year custodial sentence slapped on him after he pled guilty to possessing a small amount of cannabis for medicinal use. The lawmakers want the State Department to act with “utmost urgency” and get this patient back on U.S. soil.

The letter states that despite Forgel’s cooperation with the authorities in Russia as well as his proof that he suffers from chronic pain and was prescribed medical cannabis by his doctor in Pennsylvania, the detainee was sentenced to 14 years’ imprisonment with hard labor. The lawmakers think this decision is “unconscionable.”

It is noteworthy that the lawmakers defending Forgel for using medical marijuana are both Republicans and Democrats. This is significant because the federal government still insists that marijuana has no known medical application in the U.S., and yet this letter is urging the State Department to do everything in its power to have this citizen released and returned to the United States. Federal drug laws are in sharp contrast to the contents of the letter.

The 16 members of the House of Representatives together with the nine senators want the federal government to classify Forgel as someone who is wrongfully detained and therefore deploy any diplomatic resources necessary with the aim of securing his freedom. The “wrongful detention” classification was recently accorded to another U.S. national, Brittney Griner, after she was arrested and sentenced to nine years in jail for possessing medical marijuana. Griner is an athlete who had travelled to represent the U.S. in the WNBA competitions in Russia. She appealed the sentence, and a court in Russia rejected her appeal.

The 25 lawmakers say Forgel’s case is no different from that of Griner, and he too should be designated as wrongfully detained.

According to a spokesperson of the U.S. State Department, 11 factors are weighed before anyone can be categorized as wrongfully detained in a foreign country. One such factor is whether due process has been abused or whether the person is being victimized just because they are a U.S. citizen.

The contradictions between state-level marijuana laws and U.S. federal regulations are beginning to show their ugly side on foreign soil, and this makes it urgent for those inconsistencies to be resolved. The federal authorities need to be more progressive so that enterprises such as American Cannabis Partners operating in the domestic cannabis industry can take on a more national character as the country’ foreign policy also evolves to take into account the changing realities pertaining to substances like marijuana.

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.

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

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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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