U.S. President Joe Biden made history when he enacted the cannabis research bill and signed it into law on Nov. 2, 2022. The law now waits for 60 days for the attorney general to either approve it or ask for supplementary information from the originator of the bill. This new law opens the gates for further extensive research on marijuana to be done.

The use of cannabis is prohibited federally in the United States except for FDA-approved research. Specific states have, however, enacted legislation permitting the plant or its derivatives for research, medical, industrial and or recreational purposes.

President Biden still stands opposed to the legalization of cannabis. However, he has campaigned on several platforms for reforms of marijuana, including promoting research, decriminalization, more modest reforms to marijuana laws and rescheduling cannabis under the Controlled Substances Act (CSA).  This also comes hot on the heels of a mass pardon for Americans who have been convicted for being in possession of cannabis. This clemency has been viewed by the White House as one of the top accomplishments of the president.

For some years, the federal government has blocked the way of science due to stringent conditions researchers have to meet before being cleared to begin studying cannabis. But after years of lobbying and negotiations, the bill has finally been enacted, said Senator Dianne Feinstein in a tweet. Feinstein is hopeful that this will open up rigorous and critical research that will enable medical personnel to help millions of people needing drugs derived from cannabis.

The medical fraternity agrees that there is a need for more extensive research to be done in order to learn cannabis’ health benefits and give the masses other treatment options. This law removes barriers that had previously inhibited researchers.

Notably, the law does not provide a free pass for the researchers to access cannabis from state-approved or state-owned dispensaries for research purposes. The law has also encouraged the Food and Drug Administration (FDA) to develop cannabis-derived drugs while the Drug Enforcement Administration has to approve applications from manufacturers of drugs derived from marijuana and the same drugs are FDA-approved under the bill. Manufacturers also get a reprieve as the law allows for the importation of cannabis derivatives and materials to facilitate research.

The DEA in recent years has approved new marijuana cultivators for the purposes of studies while the National Institute on Drug Abuse published a solicitation for applications for authorized growers as it looks for contractors to supply the agency with cannabis for the purposes of research.

The Department of Health and Human Services is keen on learning about the health benefits versus the risks of cannabis. And, as more people take up the home cultivation of medical marijuana, entities that focus on making indoor cultivation equipment, such as Advanced Container Technologies Inc. (OTC: ACTX), are likely to expand their footprint across the nation.

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

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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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More than two decades after California first legalized medical cannabis, dozens of states now have their own medical and recreational cannabis markets. The cannabis industry generates billions of dollars in sales every year, proving that cannabis is one of the most popular drugs in the country even as states have loosened their policies.

However, the federal government still considers cannabis a Schedule I controlled substance, meaning that even though qualifying individuals are allowed to take part in state-legal cannabis markets, their actions remain illegal at the federal level.

As a result, cannabis consumers often find themselves penalized for purchasing and consuming cannabis even though it is legal in their states. For instance, federal employees who are subject to regular drug tests may be penalized for consuming cannabis in accordance with state law.

Reform activists and some lawmakers have long argued against federal prohibition for this and other reasons, stating that federal cannabis policies simply don’t reflect what is happening on the ground.

Last week, the Office of Personnel Management announced that it was proposing to treat past cannabis use more leniently during job applications. The federal agency is proposing to revise job applications such that they only ask applicants if they consumed cannabis within the past 90 days rather than at any point in history. However, applicants for public safety, national security or criminal justice positions would be asked if they have consumed cannabis at any time prior to their application.

The changes will be open to public comment for a two-month period and will result in a more lenient application process for federal employees if they are codified. If the changes receive approval, the draft Vetting Questionnaire would replace the current SF86, SF85, SF 85P-S and SF85P forms.

These forms typically cover positions with varying sensitivity and security levels, and they require applicants to divulge any illicit drug use by checking boxes. Even though cannabis is legal for adult consumption in more than 20 states and medical use in more than 30 states, it is still illicit at the federal level.

With the proposed changes in place, applicants will be provided with a much narrower timeline for past cannabis use. Furthermore, they will not be required to disclose the use of cannabis products with less than 0.3% THC, which is the main psychoactive agent in marijuana.

Answering yes to whether they used cannabis within the past 90 days would prompt additional questions, especially for individuals who were previously employed in a public safety, criminal justice or national security position.

As the restrictions surrounding marijuana gradually ease, entities such as REZYFi Inc., which are focused on funding cannabis companies, are likely to serve a wider market as more players enter the space and find traditional funding sources inadequate for their needs.

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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Cigarette smoking in the United States has been on a decline since 1964 when adult smoking prevalence rates peaked. As the population has become more cognizant of the health risks of smoking, fewer young people have picked up the habit. By 2020, only 13 out of every 100 adults in America (12.5%) smoked regularly.

A new report from Gallup has now revealed that young Americans are two times more likely to report smoking cannabis compared to tobacco cigarettes. Gallup analyzed survey data on marijuana and tobacco use among adults from 2001 to 2022, finding that past-week tobacco use by adults aged 18–29 has gone down from 15% in 2016 through 2018 to 12% in 2019 through 2022.

Interestingly, there was an increase in cannabis use during this period, with 26% of adults in the 18– to 29–year-old age group reporting that they smoke cannabis in 2019 to 2022 compared to 21% of adults in 2016 to 2018. The preference for cannabis in favor of tobacco was strongest among the youngest generation of adults. This is likely due to a variety of factors, such as increased public campaigns on the dangers of tobacco as well as a change in perception of the purported harms of cannabis.

Furthermore, there is also a chance that people are more comfortable reporting cannabis use amid countrywide drug reform efforts that have seen dozens of states legalize cannabis and lawmakers table legislation to legalize cannabis at the federal level.

Although around 40% of adults in the 18- to 29-year-old age group were more likely to vape or smoke something, 11% reported smoking only cannabis compared to 3% who only smoked tobacco. On the other hand, adults in the 30- to 49-year-old age group were more likely to report smoking only cigarettes in the past week (11%) compared to those who smoked only cannabis within the past week (8%).

This latest poll adds to the growing body of research showing that tobacco use is experiencing a steady decline while cannabis use is becoming more preferable to young adults.

A different poll released by Gallup in August was the first-ever survey where more Americans openly admitted to consuming cannabis in the past week compared to those who reported smoking cigarettes.

Another Gallup poll from 2019 revealed that young people are more likely to smoke cannabis than cigarettes. The poll found that cigarette consumption was at a 75-year low at 15% while cannabis use had remained relatively stable for the previous four years at 12%.

As more entities enter the cannabis space to serve the growing number of consumers, companies such as REZYFi Inc., which provide funding to marijuana companies, are likely to see surging demand for their services.

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

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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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• California voters recently approved 12 local ballot measures in the 2022 midterm elections to either expand or create cannabis markets in a dozen municipalities
• These approvals, it is projected, will translate to over 70 new retail licenses and countless other business opportunities for plant-touching and ancillary companies that serve those retailers
• Having positioned itself as one of the first cannabis mortgage bankers in the United States, REZYFi’s management is confident that these approvals, coupled with the growing conversation around marijuana and its growing expansion into additional states, will significantly strengthen its brand recognition and equity
• The company looks to accumulate at least $285 million in retail origination in 2023, coupled with $250 million in wholesale origination for the same period

REZYFi, a growth mortgage origination and specialized financing company, is looking to capitalize on the recently approved cannabis ballot measures to expand retail within California and add to the growth of its market share. The recent approval by California voters of 12 local ballot measures in the 2022 midterm elections is projected to either expand or create retail cannabis markets in a dozen municipalities, mainly within San Diego and Los Angeles counties (https://cnw.fm/y81F6). REZYFi is comfortable that these approvals will aid in growing its customer numbers and revenues.

REZYFi, through its two wholly owned subsidiaries- REZYFi Lending and ResMac Inc., has continued to carve out market share in the U.S. market, with operations growing for over 13 years. The company has closed over 20,000 loans for over 15,000 clients and now looks to accumulate at least $285 million in retail origination in 2023. It also aims to accumulate $250 million in wholesale origination for the same period.

The California cannabis ballot approvals is projected to translate to over 70 new retail licenses and countless other business opportunities for plant-touching and ancillary companies that serve those retailers. It is expected that by 2025, California will command a 20% share of the legal cannabis market, the largest in the United States (https://cnw.fm/NWaGT). This will be mainly influenced by the state’s progressive approach towards the sector and the supportive legislative framework that has aided its growth so far. Given that REZYFi targets owners of real estate who lease to cannabis companies and homeowners seeking a variety of real estate-related and additional mortgage-based financing and project-specific financings, the move by California voters offers a key growth opportunity for the company.

In a report issued by The National Association of Realtors, published in April 2021, it was noted that where prescription and recreational cannabis use was legal, over a third of surveyed agents reported a notable increase in demand for warehouses. In addition, 23% of those surveyed noted an increase in the demand for storefronts, with 28% observing an increased demand for land (https://cnw.fm/OcjsN). With previous state legalizations of recreational marijuana reflecting an increased opportunity for REZYFi’s cannabis-focused initiatives, the company is optimistic that the recent developments in California will further contribute to the company’s growth in the coming months.

REZYFi is currently licensed in 34 states in the U.S. with plans to expand to the remaining states in the future. With more states pushing for the legalization of recreational marijuana, the company hopes its customer base will continue to grow, as will its revenue. REZYFi is aggressively pushing the marijuana conversation forward as it works to lay the foundation for those interested in venturing into this space.

The company is optimistic that, as the conversation around marijuana legalization continues to evolve, the reception for its products and services will continue to build. In addition, having positioned itself as one of the first cannabis mortgage bankers in the United States, its management is confident that its expansion into remaining states will significantly strengthen its brand recognition and bolster its brand equity.

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

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