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

Flora Growth Corp. (NASDAQ: FLGC) Defines Path to Profitability and Portfolio Expansion with Proposed Franchise Global Health Inc. Acquisition

  • Flora Growth signed a definitive agreement with FGH to acquire 100% of all issued and outstanding shares by way of a statutory plan of agreement
  • The deal is expected to close in December following the presentation of the agreement to shareholders; the acquisition will open Flora to the German and EU medical markets, increasing the company’s international revenue and providing essential distribution to German pharmacies and a growing wholesale market
  • FGH’s acquisition adds to Flora’s expanding list of subsidiaries which currently comprise Vessel Brand Inc. and JustCBD, among others, and it is expected to deliver at least $3 million in annualized cost synergies within the first year
  • Luis Merchan, Flora’s Chairman and CEO, has noted that he believes the company has a path to profitability that few global cannabis companies can achieve, and the acquisition shows Flora’s commitment to achieving this profitability
  • The acquisition also highlights the company’s understanding of the global cannabis space, the opportunities therein, and what it would take for it to become the undisputed market leader

Flora Growth (NASDAQ: FLGC), an internationally focused cannabis builder that leverages natural, cost-effective cultivation practices to supply cannabis derivatives, is looking to grow its product portfolio and expand its market reach with the proposed acquisition of Franchise Global Health Inc. (“FGH”), a multi-national operator in the medical cannabis and pharmaceutical industry (https://cnw.fm/oVQPK).

With principal operations in Germany, FGH’s acquisition will open Flora up to the German and European Union (“EU”) medical markets, which its management notes will significantly increase the company’s commercial international revenue.

Flora signed a definitive agreement with FGH to acquire 100% of all issued and outstanding shares by way of a statutory plan of arrangement. The company expects to close the deal in December following the presentation of the agreement to shareholders. Completion of the agreement will be subject to certain closing conditions customary for transactions of this nature, including, but not limited to, approval by the Supreme Court of British Columbia.

FGH will add to Flora’s expanding list of subsidiaries comprising Vessel Brand Inc. and JustCBD, among others. It is also expected to deliver at least $3 million in annualized cost synergies within the first year, mainly in reduced corporate administrative expenses.

“Through this proposed acquisition, we are connecting our commercial infrastructure and medical cannabis product portfolio to the German and EU medical markets while gaining direct access to European pharmaceutical distributions,” noted Luis Merchan, Flora’s Growth’s Chairman and CEO.

“We believe Franchise will significantly increase our commercial international revenue and provide essential distribution to German pharmacies and a growing wholesale market,” he added.

In August, Flora released its financial results for the first half of the 2022 financial year (“H1 2022”). Most notably, the company delivered on its promise to double revenue compared to H2 2021, lauding the integration of both Vessel and JustCBD. In addition, the company’s management expressed its confidence in maintaining the current trajectory to deliver its full-year guidance due to continued growth in its House of Brands.

“We continue to prudently manage our overhead and working capital as we expect to improve profitability going forward,” noted Mr. Merchan.

“We believe we have a path to profitability that few global cannabis companies can achieve in this difficult moment. The execution of our key initiatives is a testament to our team’s ability to deliver on plan. We will continue to execute as we focus on profitability and long-term value creation,” he added (https://cnw.fm/jcgmb).

FGH’s acquisition is poised to bolster Flora’s profitability while strengthening its market presence. The move is also a testament to the company’s commitment to its vision of global market dominance. In addition, it reflects its management’s competence and understanding of what is required for the company to grow and achieve its short-term and long-term goals. Still, most importantly, it shows Fora’s understanding of the global cannabis space, the opportunities therein, and what it would take to become the undisputed market leader.

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

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

About CannabisNewsWire

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

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420 with CNW — Another Study Indicates Cannabis Legalization Reduces Risks of Exposure to Tainted Vapes

In 2019, there was an outbreak of lung injuries and some fatalities linked to the consumption of contaminated vape products, many of which had vitamin E acetate added to them. A new study, conducted by a joint team of Johns Hopkins University, the American Heart Association and New York University, has found that those EVALI cases were more prevalent in states that had prohibitionist laws as compared to states with legal marijuana markets.

The researchers analyzed data sourced from the Centers for Disease Control and Prevention as well as data from Behavioral Risk Factor Surveillance System (BRFS). Both data sets were from 2019. Specific attention was directed at four states that prohibit marijuana, seven that allow marijuana for medical use and two that have allowed it for recreational use.

The team found that there was no direct relationship between the prevalence of vaping in a state and the EVALI caseload registered there. Interestingly, they observed an inverse relationship, meaning that in states where data shows that rates of vaping marijuana were high, EVALI cases were fewer, while in the states where fewer people reported vaping, the cases of lung injuries were higher. It should be noted that higher prevalence rates of vaping occurred in states that had legalized cannabis in some way while lower vaping rates tended to be reported in states that strictly prohibited cannabis use.

The researchers posit that EVALI cases were higher in prohibitionist states, where vaping rates are lower, because the people there tend to source their vaping products from black market suppliers, thereby compounding the risk of using products that are contaminated. On the other hand, states with legal marijuana markets (medical, recreational use or both) tend to control product supplies, so consumers in those states obtain their vapes from licensed sources. These regulated sources are less likely to sell tainted products, hence the reduced EVALI caseload in such states.

The EVALI outbreak has since tapered off, and the study above supports what previous research suggested, which is, having regulated markets for marijuana acts as some sort of protective measure against EVALI. The researchers underscore the importance of continued market surveillance and consumer education so that future outbreaks of EVALI can be prevented.

These studies provide extra proof against those who say legalizing marijuana will pose a threat to public health. Conversely, the studies show that when marijuana is legalized and licensed enterprises such as Prime Harvest Inc. operate within the framework established by law, public health is protected as illicit and untested products are gradually squeezed out of the market.

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 — Schumer Reveals That Cannabis Banking, Expungements Law Is Close

During a recent debate hosted by Spectrum News, Senate Majority Leader Chuck Schumer stated that Congress was very close to introducing and approving a cannabis measure with provisions to cover banking access for legal businesses and expungements of past convictions. When asked about a separate bill to legalize marijuana that he’d filed earlier this year and whether he felt it would have made more sense to promote more studies into cannabis before putting an end to prohibition, Schumer stated that while research was extremely important, most states had already approved marijuana legalization, which meant that the policy was inescapable.

The majority leader also revealed that he was working with Republicans as well as Democrats on the SAFE Banking Act. This bill not only enables financial institutions to lend cannabis firms funds but also expunges cannabis-related records.

The bill that will soon be introduced, the SAFE Plus Package, is expected to build upon a standalone marijuana banking resolution that has already been approved by the House in some form seven times but stalled in the Senate, which has variously been under Republican and Democratic control as that law failed to progress.

According to several legislators, the plan is to file the bill comprised of modest cannabis reforms during a session following the soon-to-be-conducted midterm elections, approve it in the House as well as the Senate, and then advance it to President Joseph Biden’s desk.

The debate’s Republican challenger, Joe Pinion, was also asked for his opinion about ending the prohibition of marijuana at the federal level. Pinion explained that it was irresponsible and reckless to legalize the drug at the federal level before ensuring that due diligence has been done. He also touched on the opioid overdose crisis, suggesting that the prevalence of fentanyl-laced marijuana would result in individuals dying from smoking.

It should be noted that the Safe Plus measure that Schumer is finalizing with bicameral and bipartisan input may not include language that would legalize cannabis at the federal level. Legislators have indicated that the bill will include protections for financial institutions that work with state-legal cannabis businesses, as well as other proposals to promote research on marijuana and offer access to medical marijuana for military veterans, among others

The majority leader’s office also confirmed that Schumer wasn’t working on a plan that would allow Amtrak train passengers to purchase and use marijuana during their travels. This comes after a fake news article on this matter was published about a week ago.

Entities such as REZYFi, Inc. will be waiting to see how SAFE Banking Plus makes it easier for them to transact with cannabis businesses in the jurisdictions where some measure of legalization has occurred.

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) Commences 1st-Ever Study Evaluating DehydraTECH-CBD’s Effect on Diabetes

Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug delivery platforms, has announced that study program DIAB-A22-1 is expected to begin on schedule today. According to the announcement, this is Lexaria’s first-ever study to investigate whether its patented DehydraTECH-processed cannabidiol (“CBD”) may potentially have therapeutic utility against diabetes. The company has evidenced the safety and efficacy of DehydraTECH-CBD in human hypertension studies. Strong connections exist between heart disease, hypertension and diabetes, with hypertension twice as frequent in diabetics and hypertensive patients at greater risk of developing diabetes. Diabetes, which prevents the body from making enough insulin and results in abnormal blood sugar levels, is the seventh largest cause of death in the U.S. and there is currently no cure. Investigation of CBD related to diabetes is in early stages with some areas of ongoing research. CBD has shown some ability to reduce the incidence of diabetes in mice.

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

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 27 patents granted and roughly 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

About CannabisNewsWire

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

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

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

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REZYFi, Inc. Leverages Cannabis Industry Interests to Diversify Banking and Real Estate as DCC Prioritizes Research Project Funding

  • The California Department of Cannabis Control (“DCC”) has reserved $20 million in funding for research prioritizing cannabis projects, including potency, health impact, medicinal use, legacy cannabis genetics, and industry health
  • The medicinal and recreational cannabis market size in the US is anticipated to reach $33 billion in 2022, with a revenue outlook of $52.6 billion by 2026
  • REZYFi Inc., through two wholly-owned subsidiaries, is positioned to be the first cannabis mortgage banker in the United States

The state of California Department of Cannabis Control has reserved $20 million in funding for research that prioritizes numerous cannabis topics, including potency, health impacts, medicinal use, legacy cannabis genetics, and the industry’s health. The DCC requires that research funded under the program be available publicly at no cost. The grant proposals will be accepted from November 1 through November 30, with winning research projects awarded in February 2023. The DCC research grants are making it possible for expansion in the cannabis industry through individualized research on topics that make an impact (https://cnw.fm/mwtgm).

The medical and recreational cannabis market size in the United States is anticipated to reach $33 billion by the end of 2022, driven by the increase in the adult-use market. Retail sales are expected to reach $52.6 billion by 2026, according to the 2022 MJBiz Factbook (https://cnw.fm/53Iqg). The increase in the market can be attributed to consumer awareness and the legalization growing in states across the country – with four more states adding it to ballots for voters in November.

There is an unmet need for cannabis companies looking for traditional banking opportunities. However, one company, REZYFi, is uniquely positioned as the first cannabis mortgage banker in the United States. REZYFi is a growth mortgage origination and specialized financing company servicing the needs of both traditional and non-traditional consumers and businesses – targeting 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 and project-specific financings, such as solar installations and real estate development projects.

REZYFi operates through two wholly-owned subsidiaries – REZYFi Lending and ResMac, Inc. REZYFi Lending leverages a wide network to offer options such as 15- to 30-year fixed-rate loans, FHA loans, VA loans, reverse mortgages, jumbo loans, and adjustable-rate mortgages. The company expects increased funding in marketing and loan agents to drive significant origination growth over the next two years, further supported by the company’s launch of a high-margin cannabis division.

ResMac has been in operation for 13 years, having closed more than 20,000 loans for more than 15,000 clients. Through ResMac, REZYFi operates as a direct lender and originator of residential mortgages, with active mortgage correspondent and mortgage operations. Through its correspondent segment, ResMac primarily purchases and aggregates residential mortgages from trusted third-party originators.

The company is leveraging its corporate strengths to enhance the current unmet needs of the market. REZYFi is using its experience, network of independent brokers, and proprietary technology to further advance its presence as one of the first cannabis mortgage bankers working on expanding licensing into all states. Through its unique offering, REZYFi is leading the industry with a diversified approach to the real estate lending sector, positioning itself to capitalize on growth in multiple verticals in years to come.

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

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

About CannabisNewsWire

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

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

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

Lexaria Bioscience Corp. (NASDAQ: LEXX) Aiming to Address Unmet Patient Needs of Hypertensive Patients

  • Lexaria just completed its HYPER-H21-4 human clinical hypertension study, posting a sustained drop in blood pressure in normally active hypertensive patients
  • With the success of this study, the company is working towards an IND application to seek FDA approval for its patented DehydraTECH(TM)-enabled CBD capsule formulation. 
  • 47% of adults live with hypertension but only 24% of them have it under control
  • With its DehydraTECH-CBD, Lexaria hopes to not only address the severe unmet patient need associated with hypertension but also tap into a market that is set to be valued at $34 billion by 2030

Lexaria Bioscience (NASDAQ: LEXX), a global leader in enhancing the speed and efficiency of orally-delivered fat-soluble active molecules and drugs, is looking to push the conversation about high blood pressure.

Lexaria continues to move forward, most recently with the success in its latest human clinical study, HYPER-H21-4. The study may be the first to evidence a sustained drop in blood pressure in normally active patients following multiple weeks of oral cannabidiol (“CBD”) therapy using the company’s patented DehydraTECH(TM) technology (https://cnw.fm/1NdId).

Since Lexaria began developing DehydraTECH in 2014, it has continued to strengthen and broaden the technology, exploring various areas including but not limited to the oral administration of antivirals, cannabinoids, vitamins, nicotine, and PDE5 inhibitors. In early 2021, it began dosing in its first human clinical study that assessed its DehydraTECH-enabled CBD capsule formulation. This would lay the groundwork for subsequent studies while also bolstering the company’s growing list of patents, which currently stands at 27, spread across the world, including the use of DehydraTECH-processed CBD for the treatment of heart disease (https://cnw.fm/VIxov).

Lexaria is working toward an Investigational New Drug (“IND”) application filing to seek U.S. Food and Drug Administration (“FDA”) approval. It hopes to build on the success of the studies so far to enhance its understanding of DehydraTECH-CBD for treating cardiovascular and other disease states beyond hypertension.

Since its inception, Lexaria has been committed to addressing severe unmet patient needs. Hypertension has been one of the company’s main focus areas, with 47% of adults living with the condition, but only 24% have it under control. Through its research, it looks to address the condition, ultimately tapping into a market projected to post a CAGR of 3.4% between 2022 and 2030 to hit $34 billion in value (https://cnw.fm/tOjVH).

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 — Delta-9 THC from Hemp Exposes Legal Loophole, Stirs Controversy

When the 2018 farm bill was passed, hemp and all its derivatives were legalized nationally as long as the hemp used didn’t exceed 0.3% THC on a dry-weight basis. In Missouri, one entrepreneur has made a seltzer using delta-9 THC extracted from hemp, and he believes his invention is perfectly legal since it isn’t made from marijuana and the total THC content doesn’t exceed the threshold set for industrial hemp.

Joshua Grigaitis, the owner of a company called Mighty Kind, is the man who seems to be pushing the legal limits of the 2018 farm bill. He asserts that his lawyers, bankers and insurers along with the test labs he uses all agree that the seltzer doesn’t exceed the 0.3% cap for hemp. He also asks an intriguing question: why would he sell his hemp-derived product in a cannabis retail shop or other such highly regulated sales outlet when bars, CBD shops and even grocery stores can suffice?

However, not everyone agrees with the way Grigaitis views his THC drink. For example, Jonathan Miller, the Hemp Roundtable’s general counsel, says the 0.3% THC cap for hemp refers to how much of this cannabinoid is present in a hemp plant rather than in a hemp-derived product.

Others are concerned that products such as those made by Grigaitis can easily be accessed by underage youth since no age restrictions exist for the sale of those products, in contrast to the careful scrutiny exercised before one is allowed to buy a marijuana product.

As things stand, Grigaitis isn’t alone in exploiting the apparent legal loopholes in the law legalizing hemp. CBD Oracle published a study in April this year showing that at least 120 products containing delta-9 THC derived from hemp were on sale on the internet.

Delta-9 THC extracted from hemp isn’t the only hemp-derived cannabinoid exploiting legal gray areas in the farm bill of 2018. Many hemp-derived products also contain delta-8 THC, another intoxicant that isn’t as potent as delta-9 THC. Several states, including New York and Colorado, have banned products containing this cannabinoid.

Since the 2018 farm bill expires in 2023, advocates hope that the 2023 bill will address some of the concerns and loopholes that have emerged during the implementation of this expiring farm bill. Some advocates, such as the Hemp Roundtable, hope that lawmakers will include provisions that regulate the quantity of THC found in finished products instead of the existing limit referring to plant matter. How the final bill shapes up is likely to have implications for an array of cannabis industry actors, including Flora Growth Corp. (NASDAQ: FLGC). Meanwhile, Grigaitis’ home state of Missouri will have an opportunity to decide on Nov. 8, 2022, whether recreational marijuana becomes legal or not.

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

About CNW420

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

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

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420 with CNW — Many Ohio Physicians Find Marijuana Helpful for Pain

A new survey conducted by Ohio’s state medical board has discovered that most physicians in the state who recommend medical cannabis were satisfied with the drug’s effectiveness in treating patients with cancer, pain, post-traumatic stress disorder (“PTSD”) and fibromyalgia. The state medical board surveyed 648 physicians who all possess certificates that allow them to recommend medical cannabis to patients in Ohio, between July 1, 2022, and August 31, 2022.

Of the total number of licensed physicians who recommend cannabis, 583 doctors completed online surveys. It should be noted that not all doctors answered every question.

The survey discovered that roughly 50% of the participants were satisfied with the drug’s effects on patients with PTSD. It also found that 53.5% and more than 59% of the participants were satisfied with cannabis’ effects on cancer and chronic pain respectively.

This is in addition to finding that despite there being twenty-five conditions for which medical cannabis could be administered under state law, not one condition had a doctor satisfaction rate higher than 50%.

Only 10% of physicians were satisfied with the effects of cannabis for Huntington’s disease. This is said to be the lowest rate of satisfaction in the survey, closely followed by 16.3% and 16.5% doctor satisfaction rates for amyotrophic lateral sclerosis and sickle cell anemia respectively.

The survey also asked physicians about telehealth and how they diagnosed patients. Questions asked on medical conditions primarily focused on the physician’s observations instead of cannabis clinical trials.

Dr. Ryan Marino, a medical toxicologist at Case Western Reserve University, stated that there was scarce medical evidence in America on the effectiveness of cannabis. At the moment, marijuana is classified as a schedule I drug under the Controlled Substances Act, which has made it hard for researchers to legally obtain permission for research. Substances under this classification are often thought to have no legally accepted medical use and a high potential for abuse.

The survey also asked physicians if there were any conditions for which cannabis made them dissatisfied. It found that rates of dissatisfaction were highest in Alzheimer’s disease, where 0.7% of physicians were dissatisfied.

Dr. Solomon Zaraa, a psychiatrist, revealed that the results of the survey were similar to his own experiences. Zaraa explained that he had many patients suffering from chronic pain who sought cannabis because they didn’t want to risk becoming dependent on opioids. He gave the example of patients with post-traumatic stress disorder who did well with cannabis, with many reporting improvements in their sleep.

Anecdotal reports indicate an increasing number of people resorting to medical marijuana as an aid to managing various symptoms, and the cannabis industry hopes that the federal government will reform its policies on marijuana so that a bigger section of the population can access products from licensed entities such as American Cannabis Partners instead of taking risks with products from the black market or recreational or medical use.

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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Flora Growth Corp. (NASDAQ: FLGC) Agreement to Acquire Multi-national Cannabis Operator Positions Company for New Strategic Growth in Europe

  • Flora Growth is a cannabis cultivator and international brand developer with a strong base of operations at its licensed facility in northern Colombia
  • Flora recently announced its plans to acquire multi-national operator Franchise Global Health (“FGH”), the latest of its strategic acquisitions designed to boost revenues and expand Flora’s international footprint
  • FGH is focused on the German market, where its subsidiary was the first company to sell cannabis
  • Germany is in turn expected to provide the companies a launching pad for success in Europe, where opportunity is defined by the fact that currently Germany provides 75 to 80 percent of Europe’s cannabis sales
  • Flora has already reported cooperative agreements to increase its product distribution pipeline to Switzerland and the Czech Republic

Cannabis cultivator, brand manufacturer and global distributor Flora Growth (NASDAQ: FLGC) is aiming for continued revenue boosts through strategic acquisitions, announcing Oct. 24 that it will obtain the issued and outstanding shares of multi-national operator Franchise Global Health Inc. as the company positions itself to expand its wholesale cannabis sales and brand distribution operations in Europe.

The company stated in its news release that it expects the acquisition to result in at least $3 million of annualized cost synergies within the first year as they eliminate repetitive costs between the two companies (https://cnw.fm/ljXkj). Both companies expect to announce their Q3 financial reports in the near future and while the announcement doesn’t otherwise provide projections of their future performance, Flora’s acquisition strategy has injected significant revenue in recent months, such as when it announced that H1 revenues grew 604 percent YOY to about $15 million (https://cnw.fm/waQOr).

Flora and Franchise Global Health (stylized FGH) expect to close the all-stock deal in December following presentation of the agreement to FGH shareholders for a vote.

“At Flora, we believe that cannabis will dramatically improve the wellbeing of consumers around the globe and that it will become an international trade. Our company exists today to capitalize on that opportunity,” CEO Luis Merchan stated in a video interview about the agreement (https://cnw.fm/jVpFM).

“Together we have a very sustainable business,” FGH CEO Clifford Starke stated during the interview. “We have extremely strong revenue performance without executing on really what we’re trying to do, which is become a fully integrated medical cannabis company of high THC products.”

One of Flora Growth’s strategic acquisitions earlier this year was consumer wellness brand JustCBD, which increased Flora’s profile to more than half a million wellness consumers and 14,000 points of distribution in the United States at the time.

JustCBD’s 79 products registered with the UK’s novel foods standards agency are expected to also help the company expand its operational footprint in Europe and the United Kingdom where CBD is still nascent. Within the United States the company’s NASDAQ listing precludes Flora from participating in the THC (traditional tetrahydrocannabinol cannabis) market however Flora does provide THC and CBD flower and derivatives to international markets thanks to its strong position with a licensed cultivation, extraction and isolation facility in northern Colombia’s fertile climate.

FGH was the first company to sell cannabis in Germany, and the companies perceive Germany as they key to entering the rest of Europe.

“Our full focus is on Germany,” Starke said. “Our strong position is on the distribution front. … Which, if this cannabis market is going to come to life, which we all believe so, … we’re extremely well positioned to go past Germany into the rest of Europe. It’s very important to understand that 75 to 80 percent of the sales in Europe are accounted in Germany.”

Starke added that the acquisition will fill FGH’s strongest need — supply of cannabis. Given Flora’s Colombian cultivation and cost advantages and FGH’s existing relationships with more than 1,200 pharmacies, the companies believe they are well suited to lead the way in medical cannabis in Germany.

“When we started up in Germany and going into 2019, we were selling 60, 70, 80 kgs a month quite easily, and unfortunately supply constraints really limited us and now we’re back on path to regain market share,” he said.

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

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

About CannabisNewsWire

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

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420 with CNW — German Plan to Legalize Cannabis Won’t Permit Imports

The government of Germany recently published a proposal detailing its plans to legalize and regulate the recreational use of marijuana. The 12-page plan excludes cannabis imports, which means that the plant will be cultivated in the country. This will be a blow to some global producers who had plans to import their products into Germany, which is said to be the biggest economy in Europe.

In a news conference last week, the country’s Health Minister, Karl Lauterbach, stated that plans were underway to ensure complete cultivation in Germany.

The proposal, which was endorsed by the German cabinet, suggests that the program may be launched in 2024. However, before it is brought before legislators, a blueprint will have to be forwarded to the European Commission for approval. This will help ensure that the law is compatible with EU and international drug laws.

Lauterbach added that Germany would argue that the plan was aligned with global treaties, noting that the legislative process would only proceed after the plan was approved by the European Union. This suggests that these proposals may undergo amendments before they’re presented in a draft law.

The plan proposes the regulation of adult-use marijuana to protect the youth and disintegrate the country’s illicit market, in an approach similar to that of Canada. The proposal also suggests that marijuana will be sold in pharmacies as well as in approved stores, to individuals aged 18 and above. Marijuana purchases will be limited to 20-30g. Germans will also be allowed to grow no more than 3 plants at home.

The proposal states that cultivation will be permitted in greenhouse and indoor facilities to ensure quality control. However, it doesn’t touch on any possible production quotas, which currently govern Germany’s medical marijuana cultivators.

The proposal explained that the entire trade and supply chain will be subject to a controlled system which will include documentation for every step in the chain. Activities like cultivation, processing and distribution as well as retail and wholesale sales will only be carried out by licensed parties.

In addition to this, the proposal states that individuals applying for licenses will be required to demonstrate proof of sufficient financial resources and creditworthiness and proof of entry into the European Union’s beneficial ownership registry as well as expertise.

If the proposal is approved by the EU, it could be used as a blueprint for broader marijuana reform in nations across the EU who’d like to jump on the bandwagon.

That provision allowing home cultivation could very well create a potential market for indoor cultivation equipment commercialized by various entities, such as Advanced Container Technologies Inc. (OTC: ACTX).

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

About CNW420

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

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

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