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

CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH(TM) Holds Potential to Represent Multiple Commercial Opportunities

Lexaria Bioscience Corp. (NASDAQ: LEXX), a drug delivery platform innovator, last year announced a review of its successful 2021 antiviral drug program. “Lexaria specifically probed the bioavailability of five DehydraTECH(TM)-processed antiviral drugs for SARS-CoV-2, HIV/AIDS and other infectious diseases from three drug classes, evidencing significant gains with up to a three-fold increase in oral drug delivery into the bloodstream. The demonstrated improvements in absorption, Lexaria believed, could have significant commercial potential considering that many antiviral drugs typically show low oral bioavailability in their available form because of significant liver biotransformation and/or poor intestinal uptake,” reads a recent article. “Lexaria’s vision for DehydraTECH is not limited to antiviral drugs as the company is also focusing on other possible mainstream applications of its disruptive drug delivery platform, including but not limited to oral nicotine and cannabidiol (‘CBD’). Pharmacokinetic studies evaluating these compounds have, in fact, shown that DehydraTECH delivers higher quantities of these APIs in less time… DehydraTECH’s ability to increase the performance of different APIs represents multiple commercial opportunities that, when tapped, could potentially address serious unmet patient needs.”

To view the full article, visit https://cnw.fm/8Mnlp

About Lexaria Bioscience Corp.

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

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

About CannabisNewsWire

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

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

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

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420 with CNW — Senator Believes Marijuana Reforms Can Still Be Passed During Lame-Duck Congressional Session

Senator Cory Booker has revealed that there is a chance that some marijuana policy reforms, such as social justice and cannabis banking reforms, can still be approved by Congress during the session coming just after the November elections and before a new House takes office. He was quick to add that such an opportunity may be harder to get in case Republicans wrest control of either the House of Representatives or Senate out of the control of the Democrats.

The senator made these remarks during an interview with a New Jersey-based media outlet called NJ.com. Booker said that Congressional leadership was conducting active negotiations regarding a series of marijuana policy change proposals before the recess paving way for midterm elections starts.

Booker was confident that during the sittings, often called lame-duck sessions, there is a high possibility that bipartisan support will galvanize into action in favor of passing reform before a new Congress takes office. This is because supporters on both sides of the political aisle are aware that passing cannabis reforms is likely to become harder once the elections bring changes to the dominant party in either legislative chamber.

In the interview, Booker expressed frustration that the legalization of cannabis at state level hasn’t yielded the democratizing effect hoped for in the industry. He cited the small number of minority-owned cannabis companies in New Jersey as an example of the lack of equity in this nascent industry. He added that there was an urgent need for the U.S. Senate to take steps and enact reforms that catered to different issues, such as bringing accessibility to the banking system, implementing restorative justice and channeling tax dollars into creating employment opportunities as well as combating the wave of addiction sweeping across the country.

Regarding President Joseph Biden’s recent directives on marijuana, Booker expressed happiness about the decisions and said that those decisions were a fulfillment of several out-of-camera discussions he and the president had had back when President Biden was campaigning for the top office in the land. While Booker was initially opposed to passing any cannabis banking reforms before comprehensive social justice changes are made, the legislator eventually signaled a change of heart and indicated that he could consider supporting banking reform if some social justice provisions were added to the initiative.

The cannabis industry and entities such as Flora Growth Corp. (NASDAQ: FLGC) await any changes that may come out of Capitol Hill during the lame-duck session and beyond. Hopefully, those changes bring the long-awaited policy reforms that can enable the industry to grow while addressing concerns about public health and access by minors.

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

About CNW420

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

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420 with CNW — Michigan Hits New Marijuana Sales Record in September

New data from the state of Michigan shows that for the third time this year, the state has broken a new record in its cannabis sales. Sales data from September shows that the state raked in $212 million from both medical and adult-use marijuana sales. This figure is $17 million higher than the state’s April sales and roughly $2 million higher than the state’s July sales.

The data shows that the majority of the cannabis purchases for both recreational and medical use were for flower products. It also demonstrated a continuation of a sales trend in the state’s cannabis market, with adult-use sales for cannabis increasing while medical marijuana purchases continue to decline.

The state’s first recreational cannabis shops launched in December 2019.

This new data comes after regulators in the state announced that they would be issuing grants to support studies into the therapeutic benefits of cannabis for veterans, using tax revenues generated from adult-use marijuana sales. The Cannabis Regulatory Agency also revealed that it had recommended awarded grants worth $20 million to a pair of universities as part of the Veteran Marijuana Research Grant Program.

This comes after officials in the state had announced earlier this year that Michigan would be distributing almost $150 million in cannabis tax dollars, divided between public schools, localities and a transportation fund. The state’s Department of Treasury reported that the funding, which was made possible from tax dollars generated from its adult-use marijuana program, included about $42 million for 53 counties, 33 townships, 15 villages and 62 cities. This figure more than quadruples the amount in funding that the state allocated to municipalities from marijuana tax revenues in 2021.

Cumulatively, the state of Michigan recorded $481,225,540 and $1,311,951,737 in cannabis sales for medical and adult-use cannabis sales in 2021. In December 2021, the state recorded roughly $33 million in medical cannabis sales and more than $135 million in recreational marijuana purchases.

Earlier this year, state regulators also announced the approval of the first-ever social consumption site for adult-use cannabis in Michigan. The site will be located in Hazel Park. In addition, it is expected that as the state’s cannabis industry grows, even more tax dollars will be generated.

Additionally, legislators in the City Council of Hazel Park also approved a measure that designated September as the month of awareness of the therapeutic potential of psychedelics. This comes after the city locally decriminalized entheogenic fungi and plants.

Michigan is on course to become similar to major U.S. marijuana markets such as California where companies such as Prime Harvest Inc. operate and make a contribution to the local economy.

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

About CNW420

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

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420 with CNW — New York Legislator Calls for Research on Determining Marijuana Impairment

As New York State works feverishly to ensure that recreational sales of marijuana are launched on schedule, a leading lawmaker, Crystal Peoples-Stokes, is concerned that at the moment, there is no surefire way to ascertain that someone has consumed marijuana and is impaired.

Peoples-Stokes is the majority leader in the state assembly, and she was pivotal in getting the legalization law passed. She revealed that concerns about finding ways to determine impairment was part of the reason why the bill (now law) had provisions stipulating that 20–25% of the tax revenue generated from recreational marijuana sales should go toward conducting cannabis studies, including on matters such as assessing motorists to confirm whether they are impaired behind the wheel.

She wants leading academic institutions in the state, such as the University of Buffalo, to become actively involved in conducting marijuana research not just on testing for impairment but also on other vital matters such as other beneficial effects that the compounds in this plant can have.

The need for such studies has been impressed upon politicians, advocates and members of the academia by recent reports of an uptick in fatal crashes in some states that have recently legalized adult-use recreational cannabis. Such fatalities are being attributed by some people to people driving while impaired by marijuana, and there is no way to definitively confirm or rule out such claims.

In New York State in 2019, a man in Tonawanda was convicted for committing vehicular manslaughter. This was after the man drove while intoxicated with marijuana and rammed into a retirement home, causing the death of a woman who was inside her apartment in that community.

Are such reports due to isolated incidents or a growing pattern as marijuana use becomes more widespread? Only a scientifically validated test can determine whether those incidents can be directly linked to marijuana legalization in different jurisdictions or whether their prevalence isn’t so high that consumer education on responsible cannabis use cannot tame the possible irresponsible behavior of some marijuana users on the road.

In California, teams of researchers are focused on developing breathalyzers designed identify motorists who may be under the influence of marijuana. However, there is no consensus that there is a link between the amount of THC detectable in someone’s blood, saliva or breath and whether such a person can be described as impaired. Some police authorities have opted to train their personnel to look out for actual signs of impairment in drivers, such as red eyes and delayed reaction time.

Now that New York has also legalized marijuana home grows for patients with a medical marijuana card, an additional client base is likely to open up for companies such as Advanced Container Technologies Inc. (OTC: ACTX) that sell equipment which can help growers harvest high-quality produce indoors.

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

About CNW420

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

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

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420 with CNW — Nationwide Survey Data Shows Majority of Americans Support Cannabis Policy Reform

We have seen interest in cannabis increase these last few years, with new survey data showing that some three of four Americans, including majorities of Democrats, Republicans and Independents, are in favor of changing marijuana’s classification under federal law. Currently, 37 states and the District of Columbia  have legalized the medical use of marijuana while 19 states have legalized its recreational use.

Despite this, cannabis remains classified under Schedule I of the federal Controlled Substances Act with harmful drugs such as heroin. Drugs under this categorization have no currently accepted medical use in treatment and are thought to have a high potential of abuse. This doesn’t apply to cannabis, which offers a range of benefits, as numerous studies have shown.

Organizations advocating for the reform of cannabis laws, including NORML, have long called for marijuana to be rescheduled to Schedule II or III of the Controlled Substances Act. In a position statement, the organization stated that the descheduling of marijuana would help sort out the conflict that currently exists over cannabis policy at the state and federal level. NORML further asserts that this would also help maintain the market controls that numerous states have enacted to ensure safe business practices, prevent cannabis distribution to minors, promote public health and improve public safety.

Survey findings also show that support from the public to pardon or release individuals convicted for low-level, cannabis-related crimes at the federal or state level is higher from Democrats and Independents, with only a minority of GOP members supporting such efforts.

Nearly a fortnight ago, President Joseph Biden announced that individuals with cannabis-related federal convictions on their records would be pardoned. This would impact a total of about 6,500 individuals because most of these arrests and convictions are made at the local and state levels. In his announcement, the president urged governors to take similar steps then directed that a review on whether cannabis could be classified as a less serious drug be carried out.

Separate poll data also shows that about 44% of voters believe that passing a bill to legalize cannabis at the federal level should be a top or important priority for Congress.

Archived FBI data shows that since the 1960s, roughly 29 million individuals have been arrested for violating local or state cannabis laws. Given that people of color have been disproportionately affected by the war on drugs, the federal legalization of marijuana will be the first step to rectifying these grave wrongs.

As pressure from the grassroots mounts to see cannabis policies reformed federally, a time may soon come when established entities such as American Cannabis Partners will no longer have to contend with contradictions between federal marijuana laws and those at state level.

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsBreaks – REZYFi Inc.’s Diversified Approach Positions It to Capitalize on Growth Across Multiple Verticals

REZYFi, a mortgage lender company servicing the needs of both traditional and non-traditional consumers and businesses, is positioned to be one of the first cannabis mortgage bankers in the United States. In this industry, many traditional lenders are reticent to serve the state-licensed cannabis sector. “REZYFi operates through two wholly owned subsidiaries: REZYFi Lending and ResMac Inc. Leveraging a wide network to offer options such as 15- and 30-year fixed-rate loans, FHA and VA loans, reverse mortgages, jumbo loans, and adjustable-rate mortgages, REZYFi Lending expects increased funding in marketing and loan agents to drive origination growth over the next two years, which is supported by its planned launch of a high-margin cannabis division later this year. In operation for 13 years, ResMac Inc. allows REZYFi to operate as a direct lender and originator of residential mortgages, with active mortgage correspondent and mortgage servicing operations,” reads a recent article. “With its corporate strengths, REZYFi’s diversified approach to the real estate lending sector positions it to capitalize on growth in multiple verticals due to its experience, a network of independent brokers, and proprietary technology.”

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

About REZYFi Inc.

REZYFi is a cannabis-focused mortgage origination and specialized financing company in the U.S. The company originates, structures and invests in first mortgage loans and alternative structured financings secured by commercial and residential real estate properties. For more information, visit the company’s website at REZYFi.com.

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

About CannabisNewsWire

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

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

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Anticipates Leadership Position in Alternative Cannabinoid Market Segment

Flora Growth Corp. (NASDAQ: FLGC), a global cannabis cultivator, product manufacturer and distributor, is measuring its success in rapidly rising revenues brought on by strategic acquisitions and the expanding international movement of its brands. “The company recently reported a 604% increase YoY in its H1 revenues to about $15 million, which was also a 117% increase over the previous half-year financial report, and is anticipating new momentum from the recent acquisition of the No Cap Hemp Co. brand by Flora’s wholly owned subsidiary Just Brands LLC. The No Cap acquisition is expected to add some 75 SKUs to Flora’s product portfolio plus the ‘No Cap’ and ‘Moonblunt’ trademarks… Flora Growth Chairman and CEO Luis Merchan anticipates that the acquisition of No Cap’s brands will ultimately position Flora as the leader in the alternative cannabinoid market segment and that No Cap’s infusion technology will boost Flora Labs’ manufacturing capabilities,” a recent article reads. “This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business. We look forward to increasing our product offering through this transaction while broadening our sales team in the process,” Merchan is quoted as saying.

To view the full article, visit https://cnw.fm/X0bj7

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.

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

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CannabisNewsBreaks – AmeriCann (ACAN) Announces Record Revenue, Strong Top-Line Growth

AmeriCann (OTCQB: ACAN), a cannabis company that develops state-of-the-art cultivation, product manufacturing and distribution facilities, today provided financial and operational updates for its Massachusetts cannabis cultivation, product manufacturing and distribution campus. According to the update, the company achieved a significant increase in year-over-year revenue, increasing over 44% for the year ending September 2022 relative to the year ended Sept. 30, 2021, an increase of over $900,000. The company attributed the increase in financial performance to greater revenue received from products produced and manufactured at building 1, AmeriCann’s initial building at its Massachusetts Cannabis Center development in Freetown, Massachusetts. “We’re pleased with achieving record revenue for the quarter and for the strong top-line growth rate,” said AmeriCann President Tim Keogh. “Our operating margins are very strong, and we look forward to reporting our annual financial results by the end of 2022.”

To view the full press release, visit https://cnw.fm/wtD74

About AmeriCann

AmeriCann is a cannabis company that develops cultivation, processing and product manufacturing facilities. AmeriCann uses greenhouse technology, which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25% fewer lights, and utility bills are up to 75% less than in typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. AmeriCann is also designing GMP Certified cannabis extraction and product manufacturing infrastructure. The company has secured licenses to produce cannabis-infused products including beverages, edibles, topicals and concentrates. AmeriCann plans to operate a Marijuana Product Manufacturing business at the Massachusetts Cannabis Center. For more information about the company, visit www.AmeriCann.co.

About CannabisNewsWire

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

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

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CannabisNewsBreaks – Advanced Container Technologies Inc.’s (ACTX) CEFs Hold Potential to Transform the Way Food is Grown, Distributed

Advanced Container Technologies (OTC: ACTX) has announced that GrowPods – the company’s unique Controlled Environment Farms (“CEFs”), have the potential to transform the agriculture industry. Among the many benefits CEFs provide are year-round growing cycles, which are not dependent on weather, climate or quality of land, and can provide reliable and consistent crop production. “Controlled Environment Farming isn’t perfect, but it has the potential to transform the agriculture sector and improve the way food is grown and distributed in America,” said Doug Heldoorn, CEO of ACTX. “From improving the quality of our food, to reducing our dependence on corporate owned mega-farms, to bringing the farms closer to the communities they serve, there are many advantages to new, sustainable, Controlled Environment Farms.”

To view the full press release, visit https://cnw.fm/c4MKh

About Advanced Container Technologies Inc.

Advanced Container Technologies is in the business of selling and distributing self-contained, automated, indoor “micro-farms” called Grow Pods, along with related equipment and supplies. Additionally, the company designs and sells patented proprietary medical-grade plastic containers, known as the Medtainer(R), that store and grind pharmaceuticals, herbs, teas and other solids or liquids. For more information, visit the company’s website at www.AdvancedContainerTechnologies.com.

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

About CannabisNewsWire

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

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

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REZYFi, Inc. In Great Position as Efforts to Enrich Marijuana Jurisprudence Gain Steam

  • REZYFi is a mortgage origination and specialized financing company with a primary focus on providing senior loans and project financings to state-licensed operators in the cannabis industry
  • The company operates through two wholly owned subsidiaries, REZYFi Lending and ResMac
  • REZYFi is in a position to benefit from recent efforts by the Biden administration and the U.S. Congress to reschedule and decriminalize marijuana, respectively, with the moves expected to boost the cannabis industry
  • The SAFE Banking Act of 2021 and MORE Act have passed the U.S. House of Representatives and are awaiting debate in the Senate; the two bills, if passed and assented to, will make it easy for cannabis companies to receive banking services and decriminalize marijuana

In what pundits describe as a move to follow through on some of his campaign promises, the President announced a blanket federal pardon for people incarcerated for marijuana possession. Biden also tasked the Health Secretary and Attorney General with initiating a process that could culminate in the rescheduling of marijuana, which is currently classified as a Schedule 1 drug, a category supposedly meant for substances with a high potential for abuse and no accepted medical use (https://cnw.fm/k2YZ7).

Multiple analysts reckon that the move, which sent shockwaves through the cannabis industry, triggering uptrends, albeit short-lived, in cannabis stocks and fueling speculation that it could open doors for more scientific research on cannabis, could drive a renewed push for federal marijuana reform. Though not a decriminalization, the rescheduling would be a win for the industry, according to executives, as it would remove the issues associated with the enforcement of Section 280E of the Internal Revenue Code.

The announcement and the resulting process, which are set to benefit companies like REZYFi, a growth mortgage origination and specialized financing company focused on the cannabis industry, arrive at a time when both Congress and the Senate are working on marijuana reforms. (The Senate, in particular, is poised for the first time to be able to move on Congressional action, according to Oregon’s 3rd District Representative Earl Blumenauer.)

Last fall, the U.S. House of Representatives passed the Secure and Fair Enforcement (“SAFE”) Banking Act of 2021 for the fifth time since its introduction in 2013 (https://cnw.fm/5xVMJ). The House also passed the Marijuana Opportunity Reinvestment and Expungement (“MORE”) Act this spring (https://cnw.fm/ONDUw). And although both bills are yet to pass the Senate or receive presidential assent, they are poised to enrich the marijuana jurisprudence if and when they do.

For example, the SAFE Banking Act “generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business” (https://cnw.fm/BX7uV). On the other hand, the MORE Act decriminalizes marijuana by removing it from the list of scheduled substances under the Control Substances Act (https://cnw.fm/m022c). 

The two marijuana bills and the Biden announcement are set to boost an industry that REZYFi, which primarily focuses on providing senior loans and project financings to state-licensed cannabis operators, has been targeting through its wholly owned subsidiaries, REZYFi Lending. REZYFi Lending primarily addresses emerging real estate-related financing opportunities by providing commercial and specialty lending as well as working capital loans to licensed cannabis companies and owners of real estate who lease to cannabis companies. REZYFi also operates through a second wholly owned subsidiary, ResMac, which offers traditional mortgage origination, correspondent lending, and servicing.

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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CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.