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

Lexaria Bioscience Corp. (NASDAQ: LEXX) Working to Address Declining Antihypertensive Intensification and High Prescription Abandonment Rates, with DehydraTECH-CBD

  • Lexaria is a global innovator in drug delivery platforms developing DehydraTECH-CBD as a potential treatment for hypertension
  • A 2022 study documented a decline in the percentage of patients receiving appropriate treatment intensification over the last ten years
  • This decline has been attributed to, among other possible reasons, the side effects of antihypertensive drugs
  • At the same time, only 24% of adults with hypertension have the condition under control, a statistic attributable to the medications’ troublesome side effects
  • Lexaria’s investigations of its DehydraTECH-CBD have so far presented favorable safety and tolerability data, meaning its drug candidate could offer reprieve to millions looking for antihypertensive drugs with little or no side effects

A recent study published in the American Heart Association (“AHA”) journal Hypertension concluded that “appropriate treatment intensification for older adults with hypertension in the United States was suboptimal over the past decade” (https://cnw.fm/jlEvr). The study results showed the percentage of patients receiving appropriate treatment intensification – described as the addition of an antihypertensive drug to the patient’s care for high blood pressure – had declined over the ten years across all the three blood pressure targets used. 

The study sampled adults aged 60 and older who visited their primary care provider and previously had been diagnosed with hypertension, with the researchers focusing on patients that had undergone appropriate antihypertensive intensification.

Although the study did not discuss the reasons behind the decline, a recent article analyzing the findings (https://cnw.fm/baPSc) highlighted several theories that the study’s senior author Dr. Kenneth Mukamal offered. Per Dr. Mukamal, the decline might have resulted from “doctors’ concerns that blood pressure-lowering drugs might cause older adults to fall, patients’ reluctance to add more medications that might have more side effects, [and the difficulty faced by] primary care providers to treat high blood pressure aggressively in a typical 15-minute visit.”

Dr. Mukamal’s theories document an existing concern. According to the U.S. Center for Disease Control (“CDC”), only about 24% of adults with hypertension have the condition under control (https://cnw.fm/nredv). A commonly cited reason for this low statistic is that patients stop taking their medication largely because of troublesome side effects. Even so, a solution, which is being developed for patients with hypertension by drug delivery platforms innovator Lexaria Bioscience (NASDAQ: LEXX), may be on the horizon (https://cnw.fm/ZZTzQ).

Packaged in the form of enhanced cannabidiol (“CBD”), whose bioavailability properties have been improved by the company’s patented DehydraTECH(TM) drug delivery technology, the solution, known simply as DehydraTECH-CBD, may potentially address the low antihypertensive intensification as well as the relatively high prescription abandonment rates for hypertension drugs.

DehydraTECH-CBD has so far undergone animal and human studies as part of preliminary investigations designed to provide crucial data that would back Lexaria’s pursuit of registration for Phase Ib clinical trials.  The preliminary research showed that DehydraTECH delivered 317% more CBD to the blood 30 minutes after ingestion, a remarkable improvement considering the oral bioavailability of CBD is estimated at 6% (https://cnw.fm/oDTwJ).

Further human studies showed that DehydraTECH-CBD resulted in a rapid and prolonged drop in blood pressure, reduced arterial stiffness, and attenuated pulmonary artery systolic pressure. Generally, the studies yielded compelling CBD safety and tolerability data that were further reinforced by the company’s fourth human study, HYPER-H21-4, whose dosing Lexaria completed this summer. (Studies are available at https://cnw.fm/h3fM4, https://cnw.fm/BnCMI, and https://cnw.fm/4PwbY.

“We are extremely pleased that dosing has been completed on time in this multiweek clinical study without any adverse events having occurred,” said Lexaria CEO Chris Bunka of the fourth human study. “Demonstrating a noteworthy safety and tolerability profile relative to conventional antihypertensive medications is one of Lexaria’s major goals with this program, and avoiding serious adverse events at clinically efficacious doses will be a primary requirement to achieve eventual regulatory marketing authorizations.”

Although CBD is usually well tolerated, it could cause liver toxicity in the high therapeutic doses required to treat conditions such as epilepsy or hypertension. Currently, there is only one FDA-approved CBD therapeutic, branded Epidiolex, used to treat seizures at a maximum approved dose of up to 10 mg per kilogram of body weight, given twice a day. But Lexaria believes DehydraTECH’s ability to increase CBD’s bioavailability could reduce the dose prescribed to patients (https://cnw.fm/zzC4C).

With an eye on potentially delivering the second-ever FDA-approved CBD drug, Lexaria is working with the FDA to commence registered clinical trials and is on course to file an Investigational New Drug (“IND”) application in late 2022 or early 2023.

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

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

About CannabisNewsWire

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

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

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

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420 with CNW — USDA Report Highlights Environmental, Economic Benefits of Hemp as EU Market Grows

In August, the U.S. Department of Agriculture released a report on the hemp industry boom in the European Union. The report recognized that hemp was an important commodity that could aid the European Union in achieving its climate-related objectives.

The report also discusses how the cannabis crop has been cultivated and utilized in the region for millennia and how products from the crop are now increasing in popularity, as more nations enact decriminalization reforms. The report states that since the Middle Age, all parts of the hemp plant were consumed in European nations, including its flowers, leaves and seeds as well as its extracts.

The nonintoxicating plant was also used as a source of fiber for manufacturing textiles and rope. This is in addition to being used in ancient medicines. However, in the 20th century, Europe and the United States banned the plant, with its ban partially contributing to the EU’s increased reliance on fossil-based alternatives for industrial applications.

The relegalization of the cannabis plant has renewed interest in the crop, with the U.S. Department of Agriculture noting that the EU is currently assessing opportunities that would expand the usage of hemp. One of the motives behind the EU’s renewed interest is to decrease the use of carbon-intensive products and fossil fuels.

The report states that the growing of hemp provides various environmental benefits, which include increased biodiversity and prevention of erosion and carbon storage, as well as eliminating the use of pesticides. The crop’s dense leaves also create a natural soil cover, which decreases loss of water, while its flowering cycle creates a lot of pollen, which supports crop pollination for other plants.

Data from the European Commission shows that in 2019, the cultivation of hemp had increased with more than 34,000 hectares being dedicated to growing the plant. Of all the countries in the EU, France is said to be the biggest hemp cultivator, closely followed by Italy, the Netherlands and Estonia.

The report also highlights that the European Union recently passed an updated Common Agricultural Policy, which will take effect at the beginning of next year and last through 2027. Under the new policy, hemp cultivators will be eligible for direct payments for a range of varieties, as long as the plants do not exceed the dry weight 0.3% THC limit.

The Department of Agriculture notes that American stakeholders interested in entering the European hemp market should ensure that they understand the regulations, which typically vary from one nation to another.

The exploding cannabis/hemp market in Europe is likely to benefit internationally focused companies such as Flora Growth Corp. (NASDAQ: FLGC), which are constantly looking for new markets to expand into and serve.

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 — Kentucky Governor Releases Report from Committee Studying Medical Cannabis Legalization

A recent report has revealed that Kentuckians overwhelmingly support legalizing cannabis for medical use. Although more than 30 states now have legal medical marijuana markets, Kentucky is one of the few territories that still outlaws the cultivation and possession of cannabis. However, efforts to legalize medical cannabis in the state have been underway for some time, with Kentucky Governor Andy Beshear forming a medical marijuana advisory committee in June to advise him on how to increase patient access to the plant.

In a press release at the time, Beshear said that polling suggested a majority of Kentucky adults were in favor of launching a legal medical cannabis market. Quoting a 2020 scientific survey, he stated that 60% of Kentuckians believed that cannabis should be legal “under any circumstance.” Beshear noted that despite this support, plenty of residents who could benefit from cannabis treatments still could not access the drug.

The governor recently released a report from the committee, stating that he would keep the committee’s findings in mind while he considered leveraging executive actions to push cannabis reform forward. The Team Kentucky Medical Cannabis Advisory Committee ran an online poll of 3,539 Kentucky residents and found that 99% believed in medical cannabis reform. And after studying data collected during four town-hall events, the committee revealed that zero attendees opposed efforts to legalize medical cannabis.

Beshear said that there would be “some actions forthcoming” after he received the report, stating that he appreciated the work that had gone into creating it. Team members talked directly to Kentucky residents to find out their opinions on medical cannabis, Beshear said, and he would keep the information gathered by the committee in mind while he figured out the steps he could take to legalize marijuana for medical use.

The medical marijuana committee revealed a few key discoveries: cannabis can be used as a safer alternative to opioids, veterans could use the controversial plant to alleviate symptoms of post-stress traumatic disorder (PTSD) and Kentuckians were already traveling to states with legal medical cannabis markets to access cannabis treatments. Secretary of the Justice and Public Safety Cabinet and committee cochair Kerry Harvey says that everyone the committee spoke to supported allowing medical cannabis in the state.

Committee cochair and Public Protection Cabinet Secretary Ray Perry noted that America is currently in the grip of an opioid crisis and that most of the people surveyed are looking for a safer alternative with limited side effects. He said that Kentuckians spoke of the family trauma caused by chronic pain and addictive opioids and added that they were especially frustrated with state policies that prevented them from accessing cannabis.

With the governor looking increasingly determined to legalize medical cannabis through executive orders, residents could also benefit from medicinal marijuana products locally produced by entities similar to California-based Prime Harvest Inc.

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.

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

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Elevating Performance with Expanded Team

Flora Growth Corp. (NASDAQ: FLGC), throughout 2022, has been implementing its hiring strategy that has seen the appointment of several key individuals whose proven talents and productivity are critical to the company’s goal of delivering the most compelling customer experiences. “Flora Growth ushered in the new year with the appointment of Tim Leslie as chairman of its newly formed advisory board. It would later bring Derek Pedro, an industry-leading cannabis genetics and cultivation expert, on board as an advisor and named Vessel founder James Choe as chief strategy officer. In February 2022, Flora Growth announced the appointment of Jessie Casner as the company’s chief marketing officer and, in March, made two changes to its board. Then, in early June, Flora announced the appointment of Holly Bell as the new vice president of regulatory affairs…. So far, all of Flora Growth’s appointments have been geared toward strengthening its human resources and moving the company closer to its objectives. Its latest appointment of Elshad Garayev is no different. Mr. Garayev was brought on board to serve as CFO,” a recent article reads. “Mr. Garayev adds to a growing list of competent, experienced and capable individuals ready to take on the challenges ahead and elevate Flora Growth to another level of performance.”

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

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)

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

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Lays Foundation for Significantly Expanded Manufacturing, Distribution Infrastructure

Sugarmade (OTC: SGMD), an emerging leader in the licensed cannabis sector, recently signed a management services agreement (“MSA”), marking a key milestone as the company actively strengthens its position in the California cannabis space. “SGMD signed the MSA through its subsidiary, SugarRush, which entered into the agreement with Canndis Inc., a California cannabis micro license holder. Canndis holds a license that covers delivery, manufacturing, distribution, and cultivation rights, and the agreement will enable Sugarmade to expand its manufacturing and distribution footprint,” a recent article reads. “Sugarmade is anticipating harvesting [its first crop], an accomplishment made possible through the company’s acquisition of a minority stake in RMI Ventures (d/b/a Jerusalem Grade Farm)… The MSA calls for Sugarmade to assume management responsibilities and operational control over manufacturing and distribution of cultivated cannabis produced at Jerusalem Grade Farm. The agreement also expands Sugarmade’s manufacturing and distribution footprint and will provide for the establishment of a new strategically located manufacturing and distribution hub near Palm Springs, California, as Sugarmade brings that harvest to market.”

To view the full article, visit https://cnw.fm/V5ADq

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.

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

About CannabisNewsWire

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

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

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

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REZYFi, Inc. Addressing the Financial Needs of the ‘Largest Underbanked Industry’ in the US

  • REZYFi, Inc. is a real estate-oriented mortgage company servicing the needs of both traditional and non-traditional consumers and businesses
  • The company operates through its two subsidiaries, REZYFi Lending, which is now focused on cannabis commercial real estate lending, and ResMac, Inc., a traditional mortgage origination, correspondent, and servicing business
  • REZYFi seeks to provide access to financial services to the cannabis industry, which is still largely underserved because large financial companies have continuously shied away due to the illegality of cannabis at the federal level
  • The US cannabis industry is expected to generate $52.6 billion in sales by 2026, up from an estimated $33 billion in 2022, figures that make it possibly the largest underbanked industry in the country

As of May 2022, 19 states, the District of Columbia, and two US territories – Guam and the Northern Mariana Islands – had legalized the recreational use of marijuana among adults, according to the National Conference of State Legislatures (https://cnw.fm/qeaSh). But federally, the possession and use of cannabis are illegal, as per the Controlled Substances Act of 1970 (“CSA”). And as a Financial Times (“FT”) article reports, cannabis companies had long been caught in the gap between state and federal law.

“With top US banks such as JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) and payment companies including Visa (NYSE: V) and Mastercard (NYSE: MA) adhering to federal law, they have opted out of serving cannabis companies,” the FT article reads (https://cnw.fm/8Ic9H). This had long starved cannabis companies of the ability to transact electronically, take out loans, and make deposits. However, the situation is changing for the better thanks to financial services companies like REZYFi that have emerged to cater to the cannabis industry.

A real estate-oriented loan origination and servicing company, serving the needs of both traditional and non-traditional consumers and businesses, REZYFi primarily targets licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies. Specifically, the company works to “provide senior loan and project financings to state-licensed operators in the cannabis industry, secured by real estate” and/or other permitted assets.

REZYFi, which is led by senior executives with hands-on grasp of and experience in the state-permitted cannabis sectors as well as real estate and mortgage sectors, understands the myriad challenges cannabis companies and property owners who lease to such companies face when looking for real estate or project financing. In fact, the FT article believes the cannabis market, whose combined US medical and recreational sales are expected to reach an estimated $52.6 billion by 2026, up from an estimated $33 billion by the end of 2022 (https://cnw.fm/aoOVW), “can make a credible claim of being the largest underbanked industry in the US.”

As companies like REZYFi try to fill this vacuum, providing access to financial services that the cannabis industry desperately needs, some fund managers cited in the article believe that “companies targeting this problem are among the most compelling businesses in the industry from an investment standpoint.” Moreover, the investment value proposition is boosted even further by REZYFi’s expectation that the “limited access to the mainstream banking and non-bank financing industry [will] continue for the foreseeable future.”

Licensed in 36 states and headquartered in Miami, Florida, REZYFi operates through its two subsidiaries: REZYFi Lending, which is now focused on cannabis commercial real estate lending, and ResMac, Inc., a traditional mortgage origination, correspondent, and servicing business. In addition to targeting the state-licensed cannabis companies, REZYFi also offers financial services to companies and individual homeowners looking for a variety of real estate-related first and additional mortgage-based financing and project-specific financings.

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

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

About CannabisNewsWire

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

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

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

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

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420 with CNW — Study Says Medical Cannabis Helps Patients Use Fewer Opioids

After decades of prohibition, 37 states now allow their citizens to use cannabis for medical purposes. Research has found that the plant is capable of alleviating a variety of medical conditions with few side effects. As a result, millions of people across America have begun using cannabis to treat conditions such as anxiety, insomnia and chronic pain.

The surge in cannabis popularity began as people became more aware of the risks associated with opioid use. Although opioids have proven to be instrumental in treating chronic pain conditions, their side effects can be quite severe, ranging from nausea, vomiting and constipation to physical dependence and addiction.

The opioid crisis has taken hundreds of thousands of lives over the past two decades and cost the United States trillions of dollars. Consequently, patients are becoming wary of using opioids to alleviate pain, especially those who have witnessed or experienced side effects firsthand. Cannabis, which has similar pain relief effects without the severe side effects, has proven to be an attractive alternative.

A recent study by Florida State University College and Emerald Coast Research has revealed that medical cannabis reform can help address the opioid crisis by allowing patients to use fewer pharmaceutical opioids in favor of medical marijuana. Researchers from the two institutions asked medical marijuana patients about their cannabis consumption habits and how using cannabis had affected their intake of pharmaceutical drugs.

An estimated 90% (9 in 10) of the patients revealed that cannabis had been “very or extremely helpful” in treating their condition, and 88.7% said that the plant was very important to sustaining their quality of life. In a press release, researcher Carolyne Pritchett said that plenty of people take opioids for pain medication and that if there is an option with reduced risk of overdose and death, it should be considered.

The study was partly funded by Trulieve Cannabis Corp and published in the journal “Substance Use and Misuse.” Pritchett concedes that although cannabis could be a suitable replacement for opioids, we still need more research and studies that follow patients over time to determine if there are any side effects of substituting opioids with cannabis.

According to the study, 68.7% of the participants experienced at least one side effect, with the most common ones being increased appetite, drowsiness and dry mouth. Researchers concluded that the use of prescription pain medications could be reduced or even eradicated, especially for patients who suffer from chronic pain, by substituting them with medical cannabis.

As the use of medical cannabis becomes widespread across the country, there is a chance that home-grow equipment such as the grow pods sold by Advanced Container Technologies Inc. (OTC: ACTX) will proliferate and fewer people will solely depend on store-bought marijuana products.

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 — Illinois Cannabis Regulators Decry Lack of Diversity, Plan Next Moves

Earlier last week, regulators in the state of Illinois released a report highlighting a lack of diversity among business owners in its recreational cannabis market.  The report, the 2022 Annual Cannabis Report, also outlined a plan that would rectify this issue in the coming fiscal year, as the adult-use industry in the state is set to expand with 190 new social-equity businesses launching. The report also discussed the next steps for cannabis business licensing, noting that regulators would help level the playing field.

The state’s Department of Financial and Professional Regulations stressed that Illinois had faced criticism from advocates over the roll-out of its adult-use market, especially over the negligible gender and racial representation among corporate executives and business owners. At the moment, there are no active marijuana licenses with majority ownership by individuals of color, social-equity applicants or individuals with disabilities. There is only a single licensee with majority women ownership.

The report states that White people are disproportionately represented in every category in the state’s market. They account for 90% in the board of directors’ category, 88% in the majority owners category, 80% in C-suite executives and more than 70% in the minority owners categories. Latino and Black individuals make up less than 10% for majority of the top positions.

This deficit in diversity has been greatly criticized by activists, who argue that the state of Illinois hasn’t succeeded in fulfilling its equitable legalization promise.

Soon after this report was released, a group of advocates held a press conference to underscore this issue and demand that something be done to resolve the problem. Representatives from organizations such as the Social Equity Empowerment Network, the Illinois Independent Craft Growers Association, the Cannabis Equity Illinois Coalition and Chicago NORML, among others, as well as Rep. LaShawn Ford, offered an update on discussions with the office of Gov. Jay Robert Pritzker about the issue, which talked about 2023’s licensing developments and legislative agenda.

In a press release, Ford stated that he looked forward to working with his colleagues in the governor’s office and legislature to find solutions for Illinois’ marijuana program.

In addition to plans to expand the state’s cannabis industry, the report also included the latest sales data from the market. It shows that as of August 2022, Illinois’ marijuana market had raked in more than $1.5 billion in sales. It is expected that as more businesses in the state launch, sales will significantly increase just as was the case in jurisdictions such as California where entities such as American Cannabis Partners currently 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.

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420 with CNW — Study Finds That Cannabis Legalization Reduces Obesity Rates

A new study has found that the legalization of adult-use cannabis is linked to reduced levels of obesity. This is surprising because marijuana is said to be an appetite stimulator. The study was conducted by researchers at North Dakota State University, the Metropolitan State University of Denver and the Center for the Study of Public Choice and Private Enterprise.

The researchers conducted an analysis of obesity data in the state of Washington, which was one of the first states in the country to legalize adult-use cannabis. The researchers stated that despite the munchies factor and overall obesity concerns, the relationship between marijuana legalization and excessive weight gain was still being investigated.

So to help fill the gap, the researchers focused on the changes observed after adult-use retailers launched in Washington state in 2014 and then compared their findings to the rest of America. The study found that the launch of recreational cannabis dispensaries led to a reduction in the rate of obesity in Washington.

In their report, the researchers explained that their primary experiment demonstrated that adult-use cannabis legalization resulted in decreases in rates of obesity, noting that this was surprising, as prior studies had found that the use of cannabis was often linked to lethargy and increased consumption of unhealthy foods. This isn’t the only study that’s found that most stoner stereotypes don’t make sense.

For instance, one recent study investigated the idea that marijuana consumers were unmotivated and lazy, finding that there was no difference in reward-based behavior or apathy between individuals who used marijuana on a weekly basis and nonusers. Past research also found that in comparison to nonusers, the average cannabis consumer had a slimmer waistline.

The authors of the obesity study also noted in their report that as more states decriminalized and expanded the medicinal use of marijuana and legalized adult-use cannabis, their findings offered important insights into contemporary drug policy.

In addition to this, the group highlighted some of the study’s limitations, which included the fact that the study didn’t exactly determine why legalization seemed to be linked to reduced rates of obesity. They emphasized the importance of future studies identifying these potential mechanisms.

The researchers hope that their study will provide a better understanding of the relationships between the recreational use of cannabis and rates of obesity, as well as offer insights for public health policy examining the behaviors and determinants that can increase obesity.

The study’s findings were reported in the “Journal of Health Economics.”

As more stereotypes and myths about cannabis are debunked, the demand for marijuana products is likely to grow and a lot more companies may explore nontraditional financing options such as those offered to cannabis companies by entities such as REZYFi Inc. in order to grow or scale their operations.

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.

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

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420 with CNW — Medical Cannabis Sales in Ohio Hit $1B Milestone

Although only 19 states have legalized recreational cannabis compared to the more than 30 states with legal medical cannabis markets, recreational cannabis sales have routinely breached the billion-dollar milestone. Demand for adult-use cannabis has been so high that states have been able to earn billions in taxes alone from cannabis sales.

Data from Ohio shows that the medical cannabis segment has just as much commercial potential. The state launched medical cannabis sales in April 2019 and has sold $1 billion worth of medical use cannabis in the last three years. Figures posted by the Ohio Medical Marijuana Control Program show that as of Sept. 18, 2022, medical cannabis sales had reached $1,000,047,483.

In the following week, medical cannabis dispensaries sold another $8 million worth of cannabis. Over the two years and four months since Ohio began medical cannabis sales, patients bought 10,990,809 units of manufactured cannabis products and 118,978 pounds of marijuana plant material.

This revelation comes as Ohio prepares to double its approved dispensaries by early 2023. Back in May, state regulators announced that they had used a lottery system to choose 70 new licensees. Ohio currently has 58 licensed medical marijuana dispensaries, and the Ohio Board of Pharmacy is looking to license 73 more dispensaries.

The 70 new licenses that were issued to applicants were provisional, meaning they will have to build state-compliant spaces and go through an inspection by the board before they can begin operations. The applicants will have until February 2023 to build out their spaces, receive an operational license and begin operations. The board is also working with three additional companies to determine if those companies are eligible for provisional licenses.

Ohio has almost 300,000 registered medical cannabis patients, with 150,000 currently holding active registrations and recommendations. But with only 58 dispensaries to serve hundreds of thousands of patients, the pharmacy board decided to double the number of dispensaries.

The board based its decision on the fact that Ohio has fewer dispensaries per capita compared to every other medical cannabis market in the United States, limited dispensaries in the western regions of the state and higher-than-expected patient registration numbers. The Plain Dealer reports that the pharmacy board hopes the expansion of licensed dispensaries will allow for 1,200 registered medical marijuana patients per dispensary district.

In the meantime, reform activists are working to legalize recreational cannabis in Ohio. The Coalition to Regulate Marijuana Like Alcohol (CTRMLA) unsuccessfully tried to get a legalization initiative on the November ballot, but they are now looking to legalize adult-use cannabis next year.

The strong sales numbers coming out of Ohio are also similar or even surpassed in other legal marijuana markets, such as the jurisdictions where companies such as Prime Harvest Inc. are licensed to operate. This is a strong indication of how much public sentiment has evolved with regard to this plant.

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.

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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CannabisNewsWire420
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CNW420 is part of the InvestorBrandNetwork.