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 — Debt Financing Outstrips Equity in the US Cannabis Industry

According to the latest statistics from Viridian Capital Advisors, more and more marijuana companies are opting for debt financing as opposed to equity financing in the United States. Viridian Capital Advisors is a company that advises marijuana entities on strategy and M&A as well as on how to access or raise capital.

According to Viridian Capital, debt financing now commands 93% of all financing secured by marijuana companies that focus on retail or cultivation, while the industry average for debt financing stands at 55.7%. It should be noted that year-to-date figures show a decline in both equity financing as well as debt financing, but the current figures show an uptick in debt financing.

One reason for this trend is that many marijuana firms are maturing and they have their act in order, which means that financiers can look at their balance sheets and lend them money based on their cash flows. Given that many firms are actually earning revenues, it is easier for them to repay loans, and that makes debt financing a better option to equity financing.

To be fair, equity financing isn’t by itself a bad option and many companies have been able to grow and scale their operations by using the money raised through selling stocks. However, the prevailing economic conditions of high inflation have dampened stocks overall, and cannabis stocks haven’t been spared. This has made raising capital from stock exchanges less attractive, at least for the time being.

Analysts forecast that debt financing will continue to be the preferred way for cannabis companies to raise money for their operations and expansion plans until any one or several factors change for the better. These include a reduction in interest rates, a major policy shift at the federal level, a bull run for marijuana stocks or a combination of those factors.

Companies looking to secure debt financing are advised to pay close attention to the payment and prepayment terms upon which their loans are premised. For example, TerrAscend got a $45 million loan issued by Pelorus Equity Group. The loan attracted a 12.7% floating interest rate, meaning that the interest will go up or down depending on the prevailing rates. Given that the Fed is currently raising interest rates in order to put a lid on runaway inflation, chances are the interest paid by the multistate operator could increase in the course of the loan’s term.

Such possibilities several months or years down the road could impact the benefit derived from debt financing, and Viridian Capital cautions that care has to be taken because lenders will do what is within their rights to protect their investments and earn a profit. Since each company is different, companies such as REZYFi Inc. will probably table their own unique positions if and when they need to raise more money to capitalize on an opportunity or get breathing space if they ever face liquidity issues.

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 – Flora Growth Corp. (NASDAQ: FLGC) Increasing Access to Safe, Legal CBD and THC to Global Consumers

Flora Growth Corp. (NASDAQ: FLGC) is a cannabis cultivator, brand manufacturer and global distributor. “The Canadian company with a productive base of operations in Colombia’s fertile greenbelt is licensed to cultivate cannabis on a 100-hectare (about 247-acre) farming facility and then deliver its product to its GMP-certified processing facility in the nation’s capital, where beauty, phytotherapeutic and nutraceutical products are prepared for market…. Flora’s brand division is focused on developing plant-based consumer products, such as cannabinoid-infused juices, gummies, topicals, inhalables, and skin care. But the company also prioritizes the manufacture of ‘cannabinoid-derived medical formulations that can be sold domestically and internationally,’” a recent article reads. “In September, the company announced that it had completed its first exports of high-CBD dried cannabis flower to Switzerland and the Czech Republic and CBD isolate to the United States. ‘We are proud to help increase access to safe, legal CBD and THC to consumers all over the globe. We look forward to working closely with our partners in Europe and North America to bring high-quality Colombian cannabis and raw materials to market,’ Flora Growth Chairman and CEO Luis Merchan stated at the time.”

To view the full article, visit https://cnw.fm/tB1Rd

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands, designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Zero Adverse Effects from Successful HYPER-H21-4 Study of DehydraTECH(TM)-CBD for High Blood Pressure

  • The CDC reported more than 670,000 annual deaths in the United States with high blood pressure as a primary or contributing cause
  • Lexaria’s patented DehydraTECH(TM) technology has been shown, through HYPER-H21-4 study, to decrease high blood pressure in subjects through DehydraTECH-CBD-enabled dosing
  • The global antihypertension drug market was valued at over $22.5 billion in revenue in 2018 and is expected to grow at a CAGR of 3.1%, resulting in a market of over $28.7 billion by 2026

In the United States, uncontrolled high blood pressure is common among adults – with only one in four having the condition under control. According to the Centers for Disease Control and Prevention (“CDC”), in 2020, more than 670,000 deaths in the United States had high blood pressure as a primary or contributing cause (https://cnw.fm/oH9ZC). Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has announced that its human clinical study HYPER-H21-4 may be the world’s first study 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)-enabled CBD capsule formulation.

According to company CEO Chris Bunka, this is an exceptional discovery, given that previous studies by others using other oral CBD formulations have failed to evidence this sustained benefit. Additionally, DehydraTECH also demonstrated excellent safety and tolerability results and no adverse changes in liver enzymes throughout the study (https://cnw.fm/9bluE).

“Indeed, of the handful of minor, non-serious adverse events reported, there were nearly as many reported by those patients receiving placebo as those who received DehydraTECH-CBD,” Bunka added. “Consistent with Lexaria’s often-mentioned de-risking strategy, this exceptional safety profile should prove beneficial as we prepare for our planned upcoming Phase Ib Investigational New Drug clinical study to be registered with the U.S. Food and Drug Administration.”

The primary safety and efficacy objectives of the HYPER-H21-4 study were achieved, with a significant reduction in blood pressure achieved in 2.5 weeks and over the course of the five weeks of dosing. During the trial, zero serious adverse events were reported. No adverse changes were observed in liver enzymes, which is an important clinical safety biomarker of oral CBD therapy. The study notes that a significant blood pressure decrease was achieved using relatively low doses of DehydraTECH-CBD, a key indicator of the well-established drug delivery efficiencies of the company’s technology – with superior power evidenced through its unique formulation to reduce blood pressure over other oral CBD formulation (https://cnw.fm/NVoDQ).

The positive findings emphasize Lexaria’s unique position to address the unmet needs of the growing antihypertension drug market. The industry was responsible for $22,557 million in revenue in 2018 and is expected to grow at a CAGR of 3.1%, resulting in $28,797 million by 2026 (https://cnw.fm/jISXH).

Lexaria’s DehydraTECH technology was designed for formulating and delivering lipophilic drugs and active ingredients. It increases effectiveness and improves how active pharmaceutical ingredients (“APIs”) enter the bloodstream. The benefits of Lexaria’s DehydraTECH technology include the following:

  • Speeds up the delivery so that effects are felt in minutes
  • Increased bioavailability
  • Increased brain absorption
  • Improves drug potency
  • Reduces drug administration costs so that lower doses are necessary
  • Masks unwanted taste, eliminating and reducing the need for sweeteners

Since 2016, Lexaria has demonstrated, through its DehydraTECH technology, the ability to increase bio-absorption by up to five to ten times. It has reduced the onset time from one to two hours to just minutes. It will be further evaluated for additional orally administered bioactive molecules, including antivirals, cannabinoids, nicotine and more.

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)

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420 with CNW — Federal Commission Considers Amending Sentencing Guidelines on Past Cannabis Use

Before states began legalizing cannabis in the late nineties and early 2000s, the plant had been prohibited across the country for decades. Over the years, tens of thousands of Americans were convicted and imprisoned over cannabis-related charges, with a majority of them being people of color.

Even though dozens of states now allow medical and recreational cannabis use, plenty of people are still held back from fully participating in life by cannabis offenses on their records. Hundreds of thousands of people have been arrested for cannabis-related offenses in the past couple of years and cannabis arrests overall make up more than half of all drug arrests across the country.

Amidst the landscape of patchwork state cannabis policies and federal prohibition, the U.S. Sentencing Commission (USSC) has revealed that it is considering making amendments to sentencing guidelines on past cannabis use.

The federal commission recently passed 14 policy priorities for the amendment cycle ending in May 2023. Although the cannabis sentencing item wasn’t included in a previous version of a priority list that was released for public feedback, the item was added and adopted following a mass cannabis pardon announcement by President Biden.

Even though guidelines from the USSC may not be binding on judges, they still have to take the guidelines into account when they make their decisions.

The federal commission is now declaring that it is a priority to consider making amendments to guidelines for the review of defendants’ criminal histories when it comes to cannabis-related offenses. One component of the amendments would make it so that prior cannabis possession offenses are not considered at current court hearings. If the amendment is passed, the effect it could have on America’s criminal justice system could be massive.

Former assistant counsel to the U.S. House Judiciary Committee and a longtime observer of federal sentencing reform proposals Eric Sterling called the addition of possible cannabis sentencing reform a priority ‘good news’. Sterling said that the move was most likely a response to President Biden’s pardon of simple cannabis possession offenses in September.

Soon after the President’s pardon was announced, the USSC released a separate report outlining the demographics of the people who were pardoned. The USSC has also revealed a steady reduction in cannabis cases as more states have passed cannabis policies. This is in its routine reports.

In the near future, prior convictions for simple cannabis charges may be of no concern from a sentencing perspective regardless of whether the commission develops and passes any amendments to cannabis sentencing guidelines.

The industry needs the prohibitionist system to be overhauled. Only then will allied industry actors like Advanced Container Technologies Inc. (OTC: ACTX) be free from improperly being lumped together with companies that deal in marijuana directly.

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

About CNW420

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

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

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

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420 with CNW — New Jersey Legislators Approve Bill Offering Cannabis Businesses Limited 280E Tax Workaround

The State Assembly in New Jersey has approved a proposed bill that seeks to give cannabis businesses in the state leeway to deduct some of their expenses as they file their state tax returns. This is a partial solution to the heavy tax burden that these companies struggle with because of the 280E federal tax policy section, which bars entities dealing in prohibited substances from claiming any federal tax deductions.

The bill, introduced by Assemblymember Annette Quijano, received 60 to 6 vote, showing overwhelming support, and now heads to the state senate for further consideration and a vote before it is forwarded to the governor’s desk.

Generally, most tax policies of different states are a mirror-image of the federal IRS tax code. However, this bill aims at making an exception regarding the way state-legal cannabis enterprises determine their gross income. Under this proposal, the gross income of these businesses will be ascertained without factoring in the provisions of IRS section 280E.

While the businesses will get some relief from their state tax obligations, they will still have to comply with section 280E as they file their federal tax returns. The new law, if enacted, will take effect in the tax year starting on January 1, 2023, following its signing into law, according to a clause within this bill.

According to a fiscal analysis, which was published last month, the economic implications of this bill are likely to be mixed. On one hand, the state government, as well as other local authorities, is likely to forego the taxes that they have been collecting once the state tax code is decoupled from section 280E of the federal tax laws. It isn’t easy to quantify this tax loss because the recreational marijuana industry is still in its infancy (recreational sales commenced in April) in the state and its growth can be accelerated or impeded by any number of factors, so making accurate predictions about the possible tax losses is nearly impossible.

However, the analysis points out that the proposed tax relief could potentially spur more activity within the cannabis industry, thereby triggering the collection of additional tax revenues, which are hard to quantify because the industry is still in flux. Those gains could offset any tax losses resulting from the 280E exemption at state level.

Several states, including New York and Pennsylvania, are considering similar laws to reduce the tax burden suffered by licensed cannabis companies. It would be interesting to ascertain the tangible, quantifiable benefit that enterprises such as American Cannabis Partners might see if such measures were implemented in the jurisdictions where they operate.

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)

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

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Tampa Alternative Products Expo Brings Together The Local Community For Three Days of Festivity And Business Networking

After various successful shows across North and South America, Alternative Products Expo is coming to Tampa, Florida, this November 10-10, at Tampa’s Convention Center. The event has something for everyone. It features over 250 industry vendors, 20+ speakers from across the industry, and many contests and giveaways.

Starting some years ago with a series of successful Vape events, the Alt Pro Expo team ventured into organizing events for the alternative products sector. These products have significantly disrupted traditional markets, offering people different choices regarding entertainment and health.

Among these categories, attendees can find options like kratom, dietary supplements, hemp derivatives, nootropics, vapes & nicotine replacements, energy beverages, mushrooms, and so on.

The show offers a phenomenal opportunity for investors, as they can discover the untapped potential of new products that have just been released in the market. From high-profile companies to rising SMBs there will be a wide range of business opportunities for those looking to connect with the right partner.

The show provides the alternative products industry with an excellent platform for businesses to come forward and share their business ideas and have some fun. 

“We have invested heavily in our show to make the experience of our exhibitors and attendees better. The $80k we’ll be giving away is aimed at bringing new products into retail stores and helping exhibitors make new connections. General admission attendees can also get a piece of the action and spend at the show as well on a company they want to try out.” – Nicole Beiner, Director of Business Operations & Marketing.

Here are some of the activities attendees can find at the event:

  • Over $80K in cash in giveaways during the whole length of the event
  • There will be money guns and booths giving out cash for attendees to spend at the show
  • A Fun Zone with cornhole, ping-pong, and more activities, along with a Cantina to grab some drinks
  • Free product samples from the vendors exhibiting at the event
  • An unmatched atmosphere that focuses not only on business opportunities but on having a good time

The show will host numerous speakers with impressive backgrounds from the CBD and Alternative products industry, sharing their experiences, strategies, and tips.

To learn more, please visit https://cnw.fm/f6qpK.

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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Cannabis Regulation in the Spotlight During Midterm Elections at the Heels of Presidential Pardon; Flora Growth Corp. (NASDAQ: FLGC) Leveraging Colombian Stance to Manufacture Products at Lower Costs

  • President Biden issued a pardon for federally incarcerated inmates with minor marijuana possession charges, urging governors to do the same at the state level
  • The President also requested a reclassification of cannabis, as it is currently listed above other drugs which are key factors in the overdose epidemic
  • Flora Growth, through its Colombian cultivation, is producing a higher quality product at lower-than-average cost margins due to the country’s stance on cannabis regulations

With midterm elections right around the corner, voters in five states – Arkansas, Maryland, Missouri, North Dakota, and South Dakota – will determine the legality of recreational marijuana use within each state on voting day. If passed, these states will join 19 states, two territories, and D.C., which have embraced recreational marijuana use legalization. Currently, 37 states, three territories, and D.C. already recognize the legal use of cannabis for medicinal reasons. According to Paul Armentano, deputy director of the National Organization for the Reform of Marijuana Laws, “When you look at ballot campaigns in the past, you’ll see that this is an issue that crosses traditional party lines. We anticipate similar outcomes this November” (https://cnw.fm/cvqld).

Early in October, President Biden released a formal statement on his goals for marijuana reform across the country. Citing how criminal records can impose unnecessary barriers to employment, housing, and educational opportunities – more disproportionately to those people of color who are more often arrested, prosecuted, and convicted. His announcement included three steps – pardoning all prior federal offenses of simple marijuana possession, urging the governors to do the same in their respective states, and initiating a review by the Secretary of Health and Human Services and the Attorney General to review the classification of marijuana, which is classified higher than drugs currently driving the overdose epidemic (https://cnw.fm/xpxsm).

President Biden’s request for the reclassification of marijuana and the pardons issued at the federal level is helping to change the landscape of the cannabis industry. An international cannabis company, Flora Growth (NASDAQ: FLGC), is focused on cannabis brand building, leveraging natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions, including cosmetics, hemp textiles, and food and beverage. The company operates one of the largest outdoor cultivation facilities in the world with the aim of marketing higher-quality premium products at below-market prices. Flora Growth offers low-cost cannabis cultivation, an expansive brand and product portfolio, and a strategic global distribution platform. The NASDAQ listing of the company precludes it from participating in the US domestic market for adult use presently due to federal prohibitions.

The global cannabis cultivation market was valued at $323.9 billion in 2022. The market is expected to grow at a CAGR of 21.4% from 2022 to 2030, resulting in a market valuation of $1,844.1 billion by 2030. The growing interest in legalizing cannabis for medicinal and recreational use is a driving factor in the market’s growth (https://cnw.fm/FAA2e). Liberalization of laws regarding cannabis cultivation, especially hemp cultivation, has created opportunities in the market – which Flora Growth is leveraging, with the cultivation of its product at a key Colombian farm for international markets.

Flora Growth’s Colombian cultivation provides key advantages, including location, climate, and natural resources – all of which reduce the costs of traditional cultivation. With Colombia’s administration focused on progressive cannabis regulations, Flora Growth can produce high-quality, high-margin products leveraging Colombia’s geo-advantageous location. Over 70% of all cut flowers imported into the US come from Colombia – but Flora Growth is taking it one step further by reducing the associated costs, coming in at just $.06 per gram.

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.

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

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
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Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — AOC Calls Out Biden for Excluding Undocumented Immigrants from Cannabis Pardons

Last week, Rep. Alexandria Ocasio-Cortez stated that President Joseph Biden’s cannabis pardon proclamation was limited because it exempted noncitizens, who made up most of the federal possession cases.

During the interview with Pod Save America, the congresswoman emphasized the importance of having a Democratic party that stood up for the immigrant population through the enactment of policies that were more inclusive. She argued that while the presidential pardon should be applauded, it wasn’t inclusive because the proclamation exempted convicted individuals who were undocumented. This is despite the fact that about 90% of individuals who would have benefited from the pardon had status complications.

A 2016 U.S. Sentencing Commission report shows that more than 90% of cannabis possession cases at the federal level in fiscal year 2013 took place at the Southern border. The report states that 94% of the individuals arrested were not U.S. citizens. While these stats have changed as the years have gone by, they still speak to a trend in law enforcement.

Ocasio-Cortez also discussed how individuals with citizenship issues weren’t included in Biden’s pardon, highlighting that it was discriminating against people based on their citizen statuses. The mass pardon issued by Biden only impacted about 6,000 individuals who had committed cannabis possession offenses at the federal level, as well as those who had broken the law in the District of Columbia.

The congresswoman’s sentiments are shared by activists who have also argued that the relief should be extended to individuals with sales convictions as well as immigrants. Activists with DCMJ, Last Prisoner Project and Sensible Drug Policy protested against this last week and demanded that individuals currently in federal prison for cannabis convictions that weren’t limited to simple possession also be released.

This comes after the president himself boasted that his mass pardon had changed the lives of thousands. In an interview conducted after the mass pardon’s issuance, Biden stated that he was keeping his promise to ensure that no individual was in jail for being in possession of or using cannabis. Biden also noted that once released, the records of these individuals needed to be expunged completely because not doing so would make it hard for them to be employed.

In addition to pardoning individuals, Biden also directed that the Department of Health and Human Services and the Department of Justice carry out a scheduling review to determine whether marijuana’s current classification under the Controlled Substances Act was necessary. That review could have major ramifications for companies such as Advanced Container Technologies Inc. (OTC: ACTX) that see the marijuana industry as a major part of the clientele they serve.

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 — German Government Approves Cannabis Legalization Framework, But EU Sign-Off Critical

The federal cabinet in Germany has approved a framework through which marijuana could be legalized in the country. However, escalating the proposal to a legalization law is subject to approval by the European Commission as well as international law.

In recent weeks, a number of details have been surfacing on local and international media indicating some of the provisions included in the legalization framework. The plan was finally tabled before the full cabinet last Wednesday and its contents became readily available to the wider public. The cabinet approved the plan, and that brings it a little closer to making its way to the country’s lawmakers for legislative approval.

Karl Lauterbach, the country’s minister of health, admitted that the proposal shouldn’t as yet been regarded as a breakthrough in drug policy reform. He said that the EU Commission has to review the framework, and a legislative bill can then be drafted from those proposals if the Commission OKs the plan. He added that the German federal government would also soon issue its own declaration indicating the status of the framework in terms of aligning with the existing international treaties on marijuana.

The minister mentioned that the country was interested in decriminalizing cannabis with a view to giving kids better protection from the drug as well as furthering public health protection objectives.

The 12-page framework indicates that individuals who are at least 18 years old would be allowed to possess up to 30 grams of marijuana as well as grow a maximum of three plants for their own personal use. Those plants will have to be enclosed so that access to them by minors is prevented. Cannabis sales would take place at stores licensed by the federal government, and pharmacies are also being considered as possible sales locations.

A previous version of this framework was leaked to the public, resulting in  an uproar about the plan to put a THC threshold on all marijuana products. That limit has since been dropped in this version approved by cabinet. However, the current framework proposes that THC caps will be enforced for any marijuana products that will be sold to those between 18 and 20 years of age, while products for those older than 20 wouldn’t have a THC upper limit.

Additionally, if the proposed legalization plan is approved in its current form, all current criminal proceedings in connection to cases that would be legal under the terms of the plan would be halted and eventually closed once the legalization law starts being implemented.

The comments about obtaining EU approval have dampened the enthusiasm of legalization advocates because it isn’t clear cut whether the commission will approve the framework for implementation.

The marijuana industry around the world, including enterprises such as American Cannabis Partners, will be following developments in Germany closely because of their possible ramifications for the entire European Union bloc as well as the global cannabis industry.

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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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) Enabling States to be Agriculture Independent, Grow Food Year-Round

Advanced Container Technologies (OTC: ACTX) is dedicated to developing, manufacturing and selling advanced cultivation equipment, proprietary packaging systems, and a variety of other products. “One of the company’s main business units is focused on selling Grow Pods, which are advanced, self-contained hydroponic containers. These innovative automated systems are essentially micro-farms that can be placed virtually anywhere and, with a controlled and specially filtered environment, allow cultivation of a wide variety of crops, 365 days a year,” a recent article reads. “The good thing about the [Grow Pods] container is that it can give traditional farmers a niche where they can grow year-round versus three or four times per year. We can really revolutionize what’s going on in our society. People don’t realize that we get the majority of our produce through just two states – Arizona and California. By the time [food] gets across state lines, it’s already stale… We give the ability to be farm to table… There’s no reason why every state can’t be agriculture independent and growing year-round,” Shannon Illingworth, inventor of Grow Pods, is quoted as saying.

To view the full article, visit https://cnw.fm/3mNTu

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.

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