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

India Globalization Capital Inc. (NYSE American: IGC) Is ‘One to Watch’

IGC’s leading drug candidate, IGC-AD1, has completed Phase 1 of a safety and tolerability trial and entered Phase 2 trials for treating agitation in patients with Alzheimer’s dementia
As of September 2022, the IGC trial is the only ongoing Phase 2 trial of a natural THC based formulation on Alzheimer’s patients
The company’s other drug candidate, TGR-63, is an enzyme inhibitor that has shown in preclinical trials the potential to reduce neurotoxicity in Alzheimer’s cell lines
Alzheimer’s disease impacts over 55 million people worldwide and about 5.5 million individuals in the U.S.

India Globalization Capital (NYSE American: IGC), through subsidiary IGC Pharma, develops, patents, and markets advanced THC-based drug formulations for the treatment of symptoms related to various diseases including but not limited to Alzheimer’s disease, Tourette syndrome, chronic pain, and pet seizures.

IGC’s leading drug candidate, IGC-AD1, has completed Phase 1 of a safety and tolerability trial and entered Phase 2 trials for treating agitation in patients with Alzheimer’s dementia, the first study in humans of a natural tetrahydrocannabinol (“THC”) compound plus another molecule (www.clinicaltrials.gov). As of September 2022, the IGC trial is the only ongoing Phase 2 trial of a natural THC-based formulation on Alzheimer’s patients.

The company’s other drug candidate, TGR-63, is an enzyme inhibitor that has shown in preclinical trials the potential to reduce neurotoxicity in Alzheimer’s cell lines. Both drug candidates have shown their ability to ameliorate beta amyloid plaques in Alzheimer’s cell lines and improve memory in Alzheimer’s mouse models. Beta amyloid plaques are a key hallmark of Alzheimer’s and an important target of Alzheimer’s pharmaceutical drug development.

Neuro Psychiatric Symptoms (“NPS”) are not only debilitating for Alzheimer’s patients; they also place an immense emotional burden on their caregivers. Beyond reducing symptoms, IGC-AD1’s active molecules and TGR-63 have also shown promise in preclinical trials to reduce important hallmarks of Alzheimer’s including plaques and tangles, as well as improving the treatment of memory loss.

Over the past eight years, the IGC team has amassed a deep knowledge of cannabinoid science, including extraction, isolation, purification, and development. The company’s strategy is to leverage its unique end-to-end capabilities, platform, and expertise to develop a class-leading program and bring it to market quickly and cost efficiently to treat neurodegenerative diseases such as Alzheimer’s.

The company also has a family of cannabidiol (“CBD”)-based consumer products (www.Holief.com) such as pain relief creams, pain relief gels, purpose gummies, tinctures, and capsules targeting women’s wellness, with a particular focus on premenstrual syndrome (“PMS”) and dysmenorrhea (period cramps). In addition, the company targets individuals that need sleep-aids with its specially formulated low melatonin cannabinoid gummies.

IGC has also introduced a low-calorie CBD- and caffeine-infused energy beverage brand (www.SundaySeltzer.com) that is currently available for purchase. The company’s brands are founded on the belief that effective natural solutions should be affordable and accessible to everyone. As the demand for natural products targeting women’s wellness and energy drinks continue to grow, these products are seeing strong traction in the market.

The company operates three facilities – a large GMP (Good Manufacturing Production Standards) certified facility that includes extraction, distillation, and manufacturing, in Washington State; a GMP-211 (pharmaceutical) grade facility in Maryland; and a facility licensed for controlled substances including cannabis in Bogota, Colombia, with complete access to legal licensed cannabis where the company conducts its testing.

In addition, the company’s development under Magistral Formulations is approved by INVIMA (Colombia National Food and Drug Surveillance Institute) to treat neurological disorders, non-oncological chronic pain, and mental disorders.

IGC’s intellectual property (“IP”) portfolio comprises of eight patents that it controls and seven patent applications. The portfolio includes #11,446,276, a patent for extreme low dose THC treatment of Alzheimer’s that was granted in September 2022.

The company is headquartered in Potomac, Maryland.

IGC-AD1

IGC-AD1 is the company’s leading drug candidate for the treatment and relief of Alzheimer’s symptoms. A significant amount of research on Alzheimer’s cell lines has shown that the active agents in IGC-AD1 reduce plaques and neurofibrillary tangles that are the hallmarks of Alzheimer’s. Further, micro-dosing of THC, as shown in cell lines, could increase the functioning of mitochondria and potentially promote the growth of new neural pathways (neurogenesis). The research shows that micro-dosing of THC affects the brain radically differently from the normal higher dosing of THC.

While there is a significant body of research showing that THC is neuro-toxic at normal levels of dosing, micro-dosing of THC has been shown to be non-toxic to neurons. With the results of these preclinical studies, the company developed an oral formulation, IGC-AD1. The company recently completed a safety and tolerability Phase 1 trial on Alzheimer’s patients and has initiated a Phase 2, multi-site, double-blind, randomized, placebo-controlled trial of the safety and efficacy of IGC-AD1 on agitation in participants with dementia due to Alzheimer’s disease at sites in the U.S. and Canada. IGC expects the Phase 2 trial to take between 9 and 12 months to complete, barring unknown factors such as, for example, a resurgence of COVID and the enforcement of lockdowns and travel restrictions.

With further successful trials and FDA approvals, IGC hopes to bring a drug based on natural THC as an effective treatment for agitation in Alzheimer’s to market.

TGR-63

The company’s other molecule, TGR-63, has been shown to reduce the neurotoxicity that impacts memory loss in preclinical trials with mice. On a dose dependent manner, transgenic Alzheimer’s mice treated with TGR-63 showed improvement in memory relative to control.

Both drug candidates, IGC-AD1 and TGR-63, have shown their ability to reduce the brain plaques associated with memory loss in Alzheimer’s in mice.

With further successful trials and FDA approvals, IGC hopes to bring TGR-63 as a treatment for Alzheimer’s disease to market.

Market Opportunity

Alzheimer’s disease impacts over 55 million people worldwide and about 5.5 million individuals in the U.S. Over 70% of these patients face debilitating symptoms, including anxiety, depression, and agitation (Mendez, 2021). Agitation in dementia patients can include excessive physical movement and verbal activity, restlessness, pacing, belligerence, aggression, screaming, crying, and wandering.

In 2020, the estimated healthcare costs for Alzheimer’s disease in the U.S. were $305 billion. Medicare and Medicaid covered about 70% of those costs, leaving considerable burden on patients and families. At the current rate of growth of Alzheimer’s and other dementia diagnoses, those costs are estimated to reach over $1 trillion by 2050.

Currently, there are no FDA-approved medications to alleviate the symptoms of dementia due to Alzheimer’s disease, providing a tremendous opportunity for formulations that can have an impact on quality of life and disease progression.

Management Team

Richard Prins has been chairman at IGC since 2012 and served as an independent director since 2007. From March 1996 to 2008, he was the Director of Investment Banking at Ferris, Baker Watts, Incorporated. Prins served in a consulting role to RBC until January 2009. He currently volunteers full time with a non-profit organization, Advancing Native Missions, and is a private investor. Since February 2003, he has been on the board of Amphastar Pharmaceuticals Inc. He holds a bachelor’s degree from Colgate University and an MBA from Oral Roberts University.

Ram Mukunda is CEO and President of IGC. He has been the chief inventor and architect of most of the company’s patent filings and is responsible for the company’s strategic positioning. Prior to IGC, he was founder and CEO of Startec Global Communications, which he took public in 1997. He served as Strategic Planning Advisor at Intelsat, a communications satellite services provider. From 2001 to 2003, he was a Council Member at Harvard’s Kennedy School of Government, Belfer Center of Science and International Affairs. He was named the 1998 Ernst & Young Entrepreneur of the Year. He holds bachelor’s degrees in electrical engineering and mathematics, and a master’s degree in engineering from the University of Maryland.

Dr. Jagadeesh Rao is the company’s Principal Scientist. His career spans two decades in the public sector and product R&D for Johnson & Johnson. He leads IGC’s scientists in the development of pharmaceutical and OTC products. He worked for the federal National Institutes of Health, and for the National Institute on Drug Abuse. His Ph.D. in Neurochemistry is from the National Institute of Mental Health & Neurosciences in India. He did postdoctoral training at the University of Illinois-Chicago.

Claudia Grimaldi is a Director, Vice President, Principal Financial Officer, and Chief Compliance Officer for IGC. She also serves as a Director/Manager Director for some of the company’s subsidiaries. She graduated with highest honors from Javeriana University in Colombia with a bachelor’s degree in psychology. She holds an MBA, graduating with highest honors, from Meredith College in North Carolina. In addition, she has attended the Darden School of Business Financial Management Executives program and the Corporate Governance Program at Columbia Business School. She is currently pursuing her Directorship Certification with the National Association of Corporate Directors. She is fluent in both English and Spanish.

For more information, visit the company’s website at https://igcinc.us/.

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

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) Maintains Late 2022/Early 2023 for Full IND Application for DehydraTECH-CBD

Lexaria, through its patented DehydraTECH(TM) technology, is improving the bioavailability of pharmaceuticals and therapeutics (in part) by bypassing first-pass-liver processing, thereby achieving an improved speed of onset, and brain absorption of APIs
Hypertension currently affects nearly 50% of all American adults, with the American Heart Association describing it as a “silent killer”, and is now being studied for its effects during pregnancy
The company has received positive feedback for its pre-Investigational New Drug meeting from the FDA and has reported that it remains on track to file its full IND application by late 2022/early 2023
It looks to capitalize on the growth of the antihypertension market, which is set to hit $40 billion by 2031, up from $30.2 billion in 2021

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has been on an aggressive push to perfect its potential hypertension treatment, building on its patented DehydraTECH(TM) technology. Through improving the bioavailability of pharmaceuticals and therapeutics (in part) by bypassing first-pass-liver processing, Lexaria can achieve an improved speed of onset, and brain absorption of active pharmaceutical ingredients (“APIs”), which is integral to the overall treatment of conditions including but not limited to hypertension.

The American Heart Association (“AHA”) has described hypertension or high blood pressure as a “silent killer,” with nearly 50% of American adults having the condition (https://cnw.fm/P7rGD). In addition, hypertension during pregnancy comes with severe short-term risks for both mothers and their offspring, although treating the condition among these individuals is still being studied.

A recent Chronic Hypertension And Pregnancy (“CHAP”) study by Tita and colleagues sought to offer more insights into hypertension treatment during pregnancy. With over 2400 participants involved, the group noted that supporting treatment of mild chronic hypertension in pregnancy improved pregnancy outcomes. According to the study’s results, this was primarily due to a reduction in preeclampsia with severe features in medically indicated preterm birth (https://cnw.fm/DG23v).

Typically, the risks associated with hypertension in pregnancy include stroke, pulmonary oedema, acute kidney injury, preeclampsia and eclampsia, placental abruption, or even death. To the offspring, the effects can include preterm birth, birth at small-for-gestational age, or even perinatal death (https://cnw.fm/wW9xF). With such risks, there is a need for effective hypertension treatments during pregnancy. Lexaria is looking to meet that demand.

Through its DehydraTECH technology, Lexaria is looking to meet the serious unmet need in the antihypertension medication market in general and during pregnancy. It aims to achieve this by directly pushing for its products and technology and licensing it for delivering fat-soluble active molecules and drugs to strategic partners worldwide.

Lexaria is also looking to capitalize on the growth of the antihypertension drugs market, which is set to hit $40 billion by 2031, up from $30.2 billion in 2021 (https://cnw.fm/VODXl). It also hopes to carve out a significant market share globally and in the United States.

Lexaria’s management is optimistic about the company’s current trajectory. It is confident that with time, its DehydraTECH-CBD for the treatment of hypertension will receive approval from the United States Food and Drug Administration (“FDA”).

The company has so far received positive feedback from its pre-Investigational New Drug meeting (“IND”). John Docherty, Lexaria’s President, has even expressed the company’s delight, citing how helpful this feedback will be in compiling and filing its IND application. As a result, Lexaria remains on track to file its full IND application with the FDA by late 2022/early 2023, as previously announced (https://cnw.fm/ytrV5).

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

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420 with CNW — New Poll Shows Most Americans Think Tobacco, Alcohol More Harmful Than Cannabis

As the perception of marijuana continues to evolve, a growing number of Americans now hold the view that this prohibited substance isn’t as harmful as tobacco and alcohol, both of which are legal across the country. This sentiment was captured in a survey conducted by Monmouth University. The survey results were published last week.

The nationally representative poll found that 54% of those interviewed were convinced that alcohol was more dangerous compared to cannabis while 38% thought the two substances carried equal levels of danger. Only 7% thought marijuana was more dangerous than alcohol.

When it came to tobacco, 45% were of the view that tobacco posed greater levels of danger when compared to cannabis, while 13% were of the view that marijuana was the more dangerous of the two. An estimated 38% thought both substances carried an equal magnitude of danger.

This poll also sounded out the respondents’ thoughts about the recent marijuana pronouncements by the U.S. president, with 69% expressing solid support for the clemency and 68% thinking it would be good to allow people to legally possess small amounts of cannabis, such as those for which pardons were being granted. In terms of party affiliation, Democrats came out strongly in support of cannabis legalization at 76%, Independents were close behind at 73% while only 52% of Republicans expressed support for legalizing the substance.

This trend was also evident when the views of the survey respondents were analyzed to gauge their thoughts on the mass pardons granted by Biden. A reported 83% of professed Democrats agreed with the decision with 71% of the Independents supporting the move while Republican support was lower at 50%.

Speaking during the release of the poll results, Patrick Murray, who heads the polling institute at Monmouth University, remarked that support for cannabis legalization has been growing at a steady pace over the past two decades. According to him, Biden’s action was aligned with the wishes of the population at this moment in time.

One notable finding from this survey was that the American population didn’t have a clear grasp of how many people would be directly impacted by the president’s pardons. The survey showed 25% thought up to 1,000 people would be pardoned, 26% thought the number would be anywhere between 1,000 and 10,000, 14% thought more than 10,000 but less than 100,000 would benefit from the pardons while 7% thought this number exceeded 100,000; 29% weren’t sure how many would be pardoned. A federal government analysis indicates that 6,500 people would be eligible to be pardoned under the president’s directive.

As more people show support for legalization and as states enact their own legalization laws, the hand of the federal government may be forced soon enough to soften its prohibitionist stance and allow players such as Prime Harvest Inc. to operate legally across the country.

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

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

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420 with CNW — Biden Boasts That Marijuana Pardons Have Changed Lives of Thousands

Earlier this month, President Joseph Biden issued a mass pardon for individuals who had been convicted of simple possession of cannabis at the federal level. A full presidential pardon usually restores an individual’s state and federal civil rights and eliminates any consequences brought on by a federal conviction.

President Biden also gave a directive that the scheduling of cannabis be reviewed by the Department of Health and Human Services and the Department of Justice. The resulting recommendation may see marijuana placed in a lower schedule or descheduled altogether, which will legalize it under federal law.

The U.S. Health and Human Services and the Justice Departments have revealed that they are committed to conducting the scheduling review quickly as directed by the president.

Biden has spent the last few weeks making good on his commitment to modest reform, after more than a year without addressing marijuana issues. His actions are supported by a majority of Americans, with results from various polls showing that most supported the president’s pardon.

In a recently aired interview, Biden stated that he’d changed the lives of thousands by pardoning them, noting that he could only grant clemency for those in federal prisons. In an earlier statement, the president had stated that he was keeping his promise that no individual needed to be in jail for merely possessing or using cannabis, noting that these records, which would prevent individuals from getting employed, also needed to be completely expunged. He added that individuals who had served their time and been released needed to have access to educational opportunities as well as other re-entry services.

The president also suggested that individuals with drug convictions needed to undergo mandatory therapy as an alternative to decriminalization. However, he indicated that he wouldn’t extend his pardon to individuals who sold cannabis and noted that individuals who had been jailed for drug offenses needed to undergo mandatory treatment while in prison. This contradicts with his earlier statement to force these individuals into treatment instead of jailing them.

While the strides being made are positive, advocates would like the president to go a step further by extending relief to individuals with sales convictions. Activists with DCMJ, Last Prisoner Project and Sensible Drug Policy are calling for the president to release individuals who have been imprisoned for cannabis convictions that aren’t limited to simple possession. This comes as officials work to ensure that those who received pardons for federal cannabis offenses under Biden’s proclamation aren’t hindered from being employed in the future.

While federal prohibition persists, marijuana companies will still have few options to secure financing for their operations, and such as like REZYFi Inc. will remain lifeline of sorts to these companies that wish to grow their operations sans traditional banking 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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Tampa Alternative Products Expo To Offer A Festive Vibe Amongst Business Networking

Exhibitors, speakers, businesses, CBD and alternative products vendors, and researchers, are all invited to attend the Tampa Alternative Products Expo 2022 at the Tampa Convention Center. With over 10,000 attendees, 300+ vendors, and 20+ speakers per event, the Expo will exude a festival-like vibe for Tampa’s CBD, cannabis, and vape communities.

The event is organized by ZJ Events, with a reputation for managing the nation’s largest CBD & Hemp Summits. The Alt Pro Expo team has expanded into the alternative products sector, which is currently disrupting traditional markets. This product category includes kratom, nootropics, vapes & nicotine replacements, energy beverages, mushrooms, dietary supplements, hemp derivatives, and so on.

Exhibitors keen on showcasing their products and services at the show can contact the organizers to book their booths. This event is an excellent platform for fostering networking amongst traders, vendors, and all members of the Alternative Products realm.

“We’ve been working hard to ensure this is our largest event to date. Tampa has a lot of untapped potential here when it comes to the alternative products industry, and it’s great to share the excitement of this show with the companies and the attendees that will become part of it. However, we want to break the traditional trade show formula, so we are bringing with us a lot of contests, giveaways, games, and music for people to have a great time.” Said Nicole Beiner, Director of Business Operations & Marketing.

Alt Pro Expo offers every segment of the CBD and alternative products community in Tampa exceptional and exciting business and networking opportunities.

Some of the show’s highlights include:

General attendees and industry buyers can win over $80K in cash in giveaways during the length of the event
Money guns shooting, money booths shooting out cash to spend at the show
An exclusive Buyer’s Zone with cornhole, ping-pong, and more activities, plus a dedicated Cantina
Over 250+ vendors have signed up to exhibit products and services while offering tons of free samples for attendees to experience
A festive atmosphere where everyone can seize exciting opportunities while having fun

The event will feature an outstanding lineup of speakers and thought leaders from the CBD and Alternative products industry. There are different tiers of sponsorships available for exhibitors, each with different perks and benefits to maximize the success of their stand.

Alternative Products Expo is all set to offer an immersive experience to attendees, industry heads, and influencers who can leverage the forum to put across their viewpoints and discuss important trends and the future scope of the Alternative products segment.

Exhibitors can showcase their product lines and services at their respective booths for greater visibility. This forum offers immense exposure opportunities to businesses so that they can be discovered by potential investors looking for avenues for investment.

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

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Flora Growth Corp. (NASDAQ: FLGC) Focusing on Execution and Brand Integration Following Successful Period of Strategic Investment

Flora Growth recently participated in an earnings call in which the management team discussed the company’s financials as well as its growth strategy and outlook for the remainder of fiscal 2022 as well as 2023
The company noted it had exited a period of investment and is now focusing on execution
The period of investment saw the company acquire synergistic brands that, collectively, create a direct-to-consumer house of brands, enabling the company to enter nearly any target market regardless of the legal status of cannabis
The company also invested in the infrastructure necessary for the activation of its cultivation facility in Colombia, enabling it to progressively capitalize on new market opportunities that accompanied the legalization of the export of cannabis flower

The start of the second half of fiscal 2022 on July 1 marked an important transition point for Flora Growth (NASDAQ: FLGC), an internationally focused cannabis brand builder on a mission to build a design-led collective of plant-based wellness and lifestyle brands. The company, which had previously focused on expansion driven by acquisitions and other forms of capital-intensive investments, had now entered a period of execution, as CFO Elshad Garayev and CEO Luis Merchan separately emphasized in their presentations during the company’s H1 2022 earnings call held August 15 (https://cnw.fm/mWXcN).

This ongoing execution phase rests on a solid foundation built on a bed of strategic investment strategies that were markedly different from industry peers, according to Jason Warnock, Flora Growth Chief Commercial Officer. The initial thinking by a majority of companies entering a new cannabis market, Warnock says, often involves a rush to build infrastructure and allocate capital toward constructing massive facilities in anticipation of regulatory changes that may breathe life into these investments. Unfortunately, this gamble sometimes proves unrewarding as the changes do not always materialize.

On its part, however, Flora Growth took a different approach that entailed building, through acquisitions, and activating a brand portfolio that includes JustCBD, Vessel Brands Inc., Masaya, No Hemp Co, and Mambe. The resulting house of brands has enabled the company to operate legally in the United States despite the federal illegality of cannabis and the company’s NASDAQ listing, which precludes it from participating in the US domestic market. Additionally, it has ensured Flora Growth does not lock its capital expenditure (“CapEx”) in infrastructure that does not yield returns in the short or long term.

Moreover, and by integrating each brand into its operations, Flora Growth has created a collective capable of capitalizing on emerging opportunities in different parts of the world. This has, in turn, allowed the company to expand its global reach while navigating the different regulatory environments in the different target markets, as Flora Growth Chief Marketing Officer Jessie Casner explained in her presentation.

“Flora Growth’s House of Brands enables the company to enter nearly any target market regardless of the legal status of cannabis or its derivatives because of the diversity of its product offerings. This means Flora can begin to build a customer base, distribution networks, and supply chains in these regions in advance of movements on cannabis regulations affording us a revenue-generating infrastructure that positions us for the future,” said Casner.

But the House of Brands is just one pillar of the company’s growth strategy. The other, its commercial operation, includes a cultivation facility located on a 247-acre property in Bucaramanga, Colombia, and Flora Labs, the company’s manufacturing and R&D centers, located in Bogota and Bucaramanga, Colombia and Fort Lauderdale, Florida, that produce pharmaceuticals, cosmetics, and nutraceuticals for domestic and international markets. (The company also has a life sciences division that constitutes its third growth pillar.)

On April 1, following the passing of Resolution 539, which authorizes the export of cannabis flower from Colombia (https://cnw.fm/DFZoH), Flora Growth commenced the full activation of its cultivation facility. Specifically, the company began cultivating different strains of the cannabis plant for export, departing from its previous focus on the cultivation of cannabis for use in the development of derivative products. According to the earnings call, the company has so far cultivated 8 hectares, five of which support high THC strains of cannabis while the rest support high CBD strains of the plant.

“We continue to invest in the necessary infrastructure of our cultivation and commercial pillar, which up until this point had been in development. We can now realize the value of that investment heading into the second half of 2022 and into 2023. With the activation of this pillar, we are now one of only a handful of companies that are actively moving cannabis-derived products across the globe. We expect that flow of goods to increase substantially in the coming months as we continue to build relationships with regulatory agencies in the governments around the world,” commented Flora Growth CEO Luis Merchan.

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

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420 with CNW — Floridians to Start Buying Cannabis at Circle K Gas Stations

Under the terms of a new partnership agreed up between Green Thumb Industries and Circle K, residents of Florida will soon have the opportunity to buy their favorite marijuana products at select Circle K gas stations. While making this announcement, Green Thumb clarified that the marijuana outlets will have separate entrances from those used to access the convenience stores at Circle K stations.

Subject to consumer response, additional Green Thumb outlets could be established at more Circle K stations. The current arrangement is for these retail outlets to be established at 10 select Circle K locations. The company that owns Circle K has at least 7,000 Circle K locations in 47 territories and states across the United States. In Florida alone, the brand has 642 stores. The company, headquartered in Quebec, Canada, clarified that it wouldn’t be selling marijuana in its stores in Florida. Rather, Green Thumb would be renting adjacent space in order to establish cannabis retail outlets.

This agreement signed between Green Thumb and Circle K is a good example of how innovation can drive sales and branding within the cannabis industry. This is because obtaining space at Circle K convenience stores gives the marijuana retailer unique access to shoppers who can now combine getting their favorite items at a major convenience store with picking up marijuana products instead of making another stop at a standalone cannabis store.

CEO of Green Thumb Ben Kovler said that he was excited to meet marijuana consumers where they were, and added that the convenience store vertical is one of the fastest-growing segments in consumer shopping trends. He is hopeful that the service the company will be offering at Circle K stations would win over more consumers to the Green Thumb brand.

Green Thumb plans to sell marijuana flower, gummies, pre-rolls and vapes. The company is setting up a cultivation and manufacturing facility on 28 acres of land located at Ocala, Florida. This facility is expected to be operational by the end of this year, and cannabis sales at Circle K stations will begin early next year.

While marijuana is still categorized as a prohibited substance by the U.S. federal government, numerous states, including Florida, have legalized it for medical and/or recreational use. In Florida alone, the health department’s records indicate that at least 560,000 individuals hold medical cannabis cards. The outlets being opened by Green Thumb at Circle K stations will help to increase access and bring convenience to the qualifying patients who need to buy medical cannabis products.

As the cannabis industry becomes even more competitive, we are likely to see more innovation from various players such as Flora Growth Corp. (NASDAQ: FLGC) in a bid to win over and retain consumers.

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

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420 with CNW — Marijuana Could Become Legal in These Five States After Midterms

The recreational use of cannabis could be legal in one-half of America if the states with marijuana measures on their ballots approve them in November. The states of North Dakota, South Dakota, Missouri, Maryland and Arkansas have proposals on their ballots for their voters to consider legalizing the recreational use of cannabis. If approved, these states would join the District of Columbia and 19 other states that have legalized recreational marijuana.

It has been 10 years since Washington, DC, and Colorado legalized recreational marijuana. Since then, prohibition has reduced across the nation, in smaller rural states such as Vermont and Maine as well as in big states, including New York and California. While most states in the South haven’t legalized the recreational use of cannabis, many have legalized the medical use of the herb.

So, where is the cannabis movement headed next?

Earlier this year, legislators in Maryland asked voters whether cannabis should be legalized for individuals aged 21 and above. The proposed constitutional amendment states that the recreational use of cannabis will not be legal until July 2023, with a transitional period between Jan. 1, 2023, and July 1, 2023.

Missouri’s proposed ballot measure will also permit the use of marijuana for individuals aged 21 and above. Individuals will also be allowed to start cultivating and purchasing the herb for personal use. Voters in the state approved the use of medical cannabis in 2018.

In Arkansas, the state’s Supreme Court overturned a decision by the Board of Election Commissioners which stated that the resolution to approve the recreational use of cannabis did not explain the impact. This ruling will allow voters in the state to approve the recreational use of cannabis for individuals over the age of 21.

In 2020, voters in South Dakota approved a marijuana legalization amendment. However, Governor Kristi Noem challenged this move, which led the state’s Supreme Court to rule that the amendment violated South Dakota’s constitution. This year, voters will be afforded the chance to legalize the recreational use of cannabis via the ballot.

A proposal introduced in North Dakota to legalize recreational cannabis will be brought before voters next month. If approved, people aged 21 and older will be allowed to use cannabis at home as well as grow and possess a controlled amount of marijuana. The proposal also establishes policies to regulate cultivators, retail stores and other cannabis businesses.

Voters in Oklahoma will also get the chance to vote to legalize the recreational use of cannabis in March 2023, after the resolution failed to get enough signatures to qualify for the ballot in time.

If voters in those states approve marijuana legalization, a wider market will potentially open up for various entities, such as American Cannabis Partners, which are interested in having a presence in different state-level markets.

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

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Moves to Address Adverse Effects of Hypertension with DehydraTECH(TM) – CBD

Lexaria is a drug delivery technology company developing DehydraTECH-CBD as a prospective registered treatment for hypertension and potentially other disease states beyond hypertension
The company has undertaken multiple de-risking hypertension studies that have not only evidenced that DehydraTECH-CBD is safe and well tolerated, but have also shown that it reduces blood pressure and arterial stiffness
Hypertension is a leading contributor to deaths in the United States, damaging organs such as the heart, brain, and kidneys, yet only a tiny proportion of patients have it under control

Hypertension, an area of interest and focus for drug delivery technology company Lexaria Bioscience (NASDAQ: LEXX), has many harmful effects on the body, its organs, and overall personal health. Hypertension, or high blood pressure is a condition characterized by consistent exertion of elevated pressure – at least 130/80 mmHg – on blood vessels. This pressure, analyses have shown, causes the walls of blood vessels to become less stretchy or elastic, narrowing their internal cross-sectional area and ultimately damaging them (https://cnw.fm/cVeTX).

As a result, blood flow drastically reduces, and in a cascade of events, the flow of oxygen to the heart also declines. This has been linked to heart disease, heart attack, and heart failure. Nonetheless, the reduced blood flow does not only impact the functionality of the heart but also other organs, including the brain and kidneys. In fact, high BP is the second leading cause of kidney failure in the United States (https://cnw.fm/84MeZ).

Despite their relatively small size, kidneys serve as the body’s filtration system – they remove toxins, extra fluid, and waste from the blood through filtering units known as nephrons. The narrowing of blood vessels due to hypertension, however, deprives the nephrons of oxygen and other essential nutrients, impeding their normal function. This causes excess build-up of fluid and waste in the blood, which can, in turn, elevate the blood pressure even further. At the same time, kidneys also regulate blood pressure by responding to the hormone aldosterone. Therefore, they trigger a further elevation in blood pressure if and when they cannot function well due to the above events.

The various effects of hypertension point to the importance of keeping the condition under control. And although it can even lead to death and is, in fact, one of the leading causes of death in the United States, awareness, diagnosis, and management are still considerably low. According to the World Health Organization (“WHO”), about 46% of adults with hypertension are unaware they have the condition. At the same time, only about 42% of adults with high BP are diagnosed and treated, while only 21% of hypertensive adults have the condition under control (https://cnw.fm/mNYEy).

These statistics are worrying in light of the myriad consequences of high blood pressure, which is why Lexaria has focused its attention on finding a safe and effective treatment. The company, which created a patented drug delivery technology called DehydraTECH that can be applied in broad use within the pharmaceutical industry, is positioning DehydraTECH-processed cannabidiol (“CBD”) as a potential treatment for hypertension.

“Our biggest area of investigation in 2021 was CBD for hypertension and heart disease, and we enjoyed a very successful year in this regard,” wrote Lexaria CEO Chris Bunka in his 2022 letter to shareholders (https://cnw.fm/EiOET). “This year [2021], we evidenced that human blood pressure dropped within minutes of swallowing DehydraTECH-CBD capsules, after just a single dose… At selected times during the 24-hour [HYPER-H21-2 follow-up] study, volunteers with mild to moderate hypertension averaged as much as a 20 mmHg (i.e., 23%) decrease in BP relative to placebo. This is a large response after a single day of dosing, and we were encouraged by these results.”

In total, the company conducted three de-risking studies in 2021, with the third, HYPER-H21-3, showing that DehydraTECH-CBD reduced pulmonary systolic pressure by ~5 mmHg or 41% overall in male participants. Throughout all three studies, Lexaria evidenced no significant adverse effects with DehydraTECH-CBD.

In July this year, Lexaria completed dosing for its largest hypertension study yet, HYPER-H21-4, reporting no serious adverse events (https://cnw.fm/v80c2). Sixty-six patients were dosed in the study over five weeks, conforming to the company’s initial desire to evaluate a “large enough group to obtain reliable, statistically significant data and a long enough study duration to witness the true power of DehydraTECH-CBD in modulating BP.”

“If this study is successful, we feel strongly that it will be highly supportive of our Investigational New Drug (“IND”) filing plan, and we will have a clear path toward designs of Phase I and even potentially Phase II FDA-registered clinical studies thereunder,” Bunka continued. Lexaria expects to release the results in due course.

By developing DehydraTECH-CBD as a prospective registered treatment for hypertension and potentially other disease states beyond hypertension, Lexaria hopes to provide hypertensive patients with safe, well-tolerated, and effective medication to help them manage their condition, consequently preventing adverse effects such as kidney disease.

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

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420 with CNW — AMA Poll Finds 67% Support Congressional Action on Cannabis Banking

A new opinion poll commissioned by the American Bankers Association has found that two out of every three Americans would like Congress to approve a law allowing state-legal cannabis companies to have access to traditional banking services, including access to loans and checking accounts.

This survey was focused on two questions. First, the poll wanted to know whether Americans felt cannabis businesses licensed in states with legal cannabis markets should be in position to get access to basic banking services. The second question sought the opinion of respondents regarding whether or not Congress needs to act on cannabis banking reform.

For both questions, respondents exhibited support. Nearly seven in ten Americans said they supported proposals to grant cannabis companies access to mainstream financial services. Of this number, 37% were “strongly” in favor of granting such access. Only a paltry 16% of the respondents were of the view that there is no need for Congress to enact cannabis banking reform policies.

Rob Nichols, AMA president and CEO, wrote in a press release that U.S. residents strongly believed that the time had come for the current contradictions between federal and state-level policies on marijuana to be fixed once and for all. He called on Congress to expeditiously approve the SAFE Banking Act before this year ends so that public safety can be improved in more than three dozen states where marijuana has been legalized in one way or the other.

The House of Representatives has approved some form of the Safe Banking Act more than half a dozen times, but the law has always hit a wall when it gets to the upper chamber of Congress regardless of whether the Democrats or Republicans have a majority in that chamber. The good news is that banking reform has been included in a package containing cannabis policy reforms that leaders in the Senate are finalizing.

Earl Blumanauer, who tabled the banking law before the House of Representatives, says that the continued denial of banking services to the cannabis industry not only hurts businesses owned by minorities but is also deadly due to the attacks such businesses are exposed to. Because of these security concerns, Rep. Ed Perlmutter has threatened to go the “nuclear way” of blocking other legislation in order to force cannabis banking to be addressed by Congress.

Several groups, including the National Conference of State Legislatures (NCSL) and National Association of State Treasurers (NAST) have all come out to push for cannabis banking reform. It remains to be seen whether Congress will heed these calls and give ancillary actors such as Advanced Container Technologies Inc. (OTC: ACTX) the relief they seek to access banking services like any other legal businesses in the country.

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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