Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

420 with CNW — Medical Marijuana Firm Wants Court to Allow Selling Cannabis Edibles on Open Market

Edibles have been giving cannabis flower a run for its money in recent years. As people became more conscious of the health effects of smoking, the demand for a safer, more discreet means to consume cannabis grew exponentially. Edibles fill that niche neatly by allowing users to consume cannabis in a safe and discreet way.

Furthermore, edibles also allow for more precise dosing, making it easier for newbies to try cannabis without getting overwhelmed the first time. This precise dosing capability make edibles particularly suited for medical applications. In Minnesota, a medical marijuana company called Vireo Health is fighting for the right to sell cannabis edibles on the open market.

The company recently filed a lawsuit against the state’s new regulations for hemp-derived THC edibles. THC, or delta-9 tetrahydrocannabinol, is the main chemical agent in cannabis. The only difference between cannabis and hemp is that hemp has minuscule THC levels and cannot cause intoxication when used. The THC used in hemp edibles is derived from CBD (cannabidiol)-rich hemp, a chemical compound that doesn’t have intoxicating properties and occurs in abundance in hemp.

Although the THC produced from hemp and cannabis is chemically identical, Minnesota law does not allow the sale of cannabis-derived THC edibles. Vireo Health argued in its lawsuit that outlawing edibles made from hemp-derived THC was a violation of the company’s rights because the law kept its products illegal under Minnesota’s medical cannabis program. The suit states that the medical marijuana company would be forced to “drastically change its business model” to be treated equally with sellers who sold a chemically identical product.

If the lawsuit is successful, Vireo Health will be able to sell cannabis edibles to Minnesota residents aged 21 and older as long as it caps THC content at 5 mg per serving and 50 mg per package. However, Minnesota Cannabis Association president Steven Brown says that Vireo Health could open a retail branch separate from the medical marijuana business to sell hemp-derived edibles anytime.

Brown, who is also the owner of a store called Nothing but Hemp, posits that “behemoth” companies such as Vireo Health usually have one main goal whenever they enter a new industry: to take over the entire market share. He thinks that the two companies registered to manufacture medical cannabis in Minnesota — Vireo Health and Leafline Labs — will lobby against the state’s hemp edible rules in the 2023 legislative session; he says the hemp industry is preparing for their opposition.

The struggle for ending prohibition is a marathon that takes plenty of time, and this lawsuit in Minnesota could be another step in the fight for a regulatory setup that allows all marijuana companies everywhere, including Flora Growth Corp. (NASDAQ: FLGC), to operate in a way that they can be regarded as legitimate businesses, just as players in other industries.

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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Flora Growth Corp. (NASDAQ: FLGC) Expands Global Distribution Network to Three Industry-Leading Countries; Wins Award for Best M&A Deal at the 2022 Benzinga Cannabis Capital Conference

  • Flora just announced the first successful export of Colombian high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate to the United States
  • Luis Merchan, the company’s CEO, has described this as a “major milestone,” one that further defines the company’s revenue pipeline
  • He pointed out the increasing demand for Flora’s high-quality, high-margin flower and derivatives from its cultivation operation in Colombia, terming it as a testament to the Flora team’s ability to execute in a very complex global regulatory environment
  • Flora also earned the Best M&A Deal award at Benzinga’s 2022 Cannabis Capital Conference in Chicago, an award that recognized the company’s strategic M&A objectives, including acquiring products, expertise, expanding distribution, and customers

On September 26, Flora Growth (NASDAQ: FLGC) announced the first successful export of Colombian high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD, isolate to the United States. Luis Merchan, Chairman and Chief Executive Officer (“CEO”) of the company, described this as a “major milestone,” one that further defines Flora’s revenue pipeline. The company also launched its commercial website, where interested buyers can expedite the processing of orders and learn about the company’s cultivation and growth practices (https://cnw.fm/l07N0).

With the global CBD market having achieved impressive growth thus far and showing even greater potential growth in the coming years, Flora is positioning itself as a key industry player, looking to take advantage of this development.

The sector is projected to be valued at US$47 billion by 2028, up from US$4.9 billion in 2021 (https://cnw.fm/EjfsS). This growth will be primarily attributed to an overall shift in policy on CBD programs in key markets, with countries such as Switzerland announcing pilot projects to open adult-use cannabis sales to test the viability of a fully legal recreational market.

“As our global distribution network continues to evolve, adding these three industry-leading countries to our footprint is a major milestone for Flora,” noted Mr. Merchan.

“Our cultivation operation in Colombia, which provides high-quality, high-margin flower and derivatives, has experienced increasing demand. These exports are a testament to our team’s ability to execute in a very complex global regulatory environment and create new commercial revenue for our company,” he added.

Flora’s current performance can be attributed to the company’s commitment to diversifying its product line and its team’s resolve to explore new markets. In addition, the company has leveraged strategic acquisitions, including Vessel Brand Inc., Just Brands LLC, and High Roller Private Label LLC, among others, to achieve both short-term and long-term objectives.

These efforts have earned Flora the Best M&A Deal award at Benzinga’s 2022 Cannabis Capital Conference held in Chicago.

“We are honored to receive the award for Best M&A Deal at the Benzinga Cannabis Capital Conference, which recognizes our strategic M&A objectives, including acquiring products, expertise, expanding distribution, and customers,” noted Mr. Merchan (https://cnw.fm/qDZVm).

Flora’s acquisitions have enhanced the company’s infrastructure in the United States while allowing it to benefit from widespread distribution across various mainstream U.S. channels. JustCBD’s acquisition, completed in February 2022, for instance, expanded the company’s portfolio by over 300 products and opened the company up to over 300,000 customers.

“This acquisition continues to strengthen Flora’s foothold in the U.S. wellness market as well as providing meaningful growth acceleration and delivering human capital to the Flora organization,” noted Mr. Merchan during the announcement of the JustCBD acquisition (https://cnw.fm/x6v6S).

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

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

About CannabisNewsWire

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

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

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

Sugarmade Inc. (SGMD) Positioning Itself in Space Seeing Growing Government Support

  • More than a dozen cannabis reform bills were passed by the California legislature during the summer
  • Governor Newsom signed 10 of the bills
  • SGMD is focused on strengthening its presence in a variety of spaces, including cannabis

As the California legislature ended its session last month, more than a dozen cannabis reform bills were approved and sent to Governor Gavin Newsom for his consideration (https://cnw.fm/mCyUU); ultimately, the governor signed 10 of them (https://cnw.fm/CHabl). The show of government support for cannabis in the state bodes well for California cannabis companies, including Sugarmade (OTC: SGMD), a product and branding marketing company investing in operations and technologies with disruptive potential, including cannabis.

“For too many Californians, the promise of cannabis legalization remains out of reach,” said Governor Newsom. “These measures build on the important strides our state has made toward this goal, but much work remains to build an equitable, safe and sustainable legal cannabis industry. I look forward to partnering with the legislature and policymakers to fully realize cannabis legalization in communities across California.”

A Marijuana Moment article reported that “in the past several weeks, more than a dozen cannabis reform bills crossed the finish line in Sacramento, pending action from Gov. Gavin Newsom.” Included in those bills was one that would prohibit localities from banning medical cannabis deliveries in their areas, “a move that advocates say will both improve patient access and help fill voids throughout the state where no cannabis license types have been authorized,” the article stated.

Other bills included a measure providing employment protections for employees who use marijuana during their off hours, a bill designed to streamline record sealing for people with eligible marijuana-related convictions, and legislation that would set the state up to allow interstate cannabis commerce.

The full list of bills signed by the governor include the following: AB 1706, cannabis crimes: resentencing; AB 1646, cannabis packaging: beverages; AB 1885 by cannabis and cannabis products: animals: veterinary medicine; AB 1894, integrated cannabis vaporizer: packaging, labeling, advertisement, and marketing; AB 2210, cannabis: state temporary event licenses, venues licensed by the Department of Alcoholic Beverage Control, unsold inventory; AB 2188, discrimination in employment: use of cannabis; AB 2568, cannabis: insurance providers; AB 2925, California Cannabis Tax Fund: spending reports; SB 1186, Medicinal Cannabis Patients’ Right of Access Act; and SB 1326, cannabis: interstate agreements.

According to the governor’s office, these bills “build on the administration’s efforts to strengthen California’s cannabis legalization framework. As part of this year’s state budget, the governor signed legislation to provide tax relief to consumers and the cannabis industry; support equity businesses; strengthen enforcement tools against illegal cannabis operators; bolster worker protections; expand access to legal retail; and protect youth, environmental and public safety programs funded by cannabis tax revenue.

“To expedite policy reforms that prioritize and protect California consumers’ health and safety, the governor has directed the California Department of Public Health to convene subject matter experts to survey current scientific research and policy mechanisms to address the growing emergence of high-potency cannabis and hemp products,” the governor’s announcement continued. “The governor has also directed the Department of Cannabis Control to further the scientific understanding of potency and its related health impacts by prioritizing the funding of research related to cannabis potency through its existing public university grants.”

Sugarmade is focused on strengthening its presence in a variety of spaces, including cannabis. The company is rethinking metrics to leverages its portfolio data to “quickly and intuitively understand what we need to focus on creating today to satisfy customers tomorrow, improving efficiency, profit margins, and top-line sales,” (https://cnw.fm/ySdJO). SGMD’s brand portfolio currently includes CarryOutsupplies.com, SugarRush(TM), NUG Avenue, J Grade Farm, Lemon Glow and Budcars.

For more information, visit the company’s website at 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 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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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Mississippi Collects Millions in Revenue from Medical Cannabis Licenses, Fees

Last week, the state of Mississippi announced that it had brought in millions in revenues from its new medical cannabis program. Information on the state’s Department of Health website shows that the state raked in roughly $5.7 million in one-off application and license fees from cultivators, dispensaries, processors and transportation companies as well as testing activities within the state.

In specific figures, the state of Mississippi has thus far brought in $25,000 for testing facilities; $37,500 and $12,500 for transportation and disposal licenses respectively; $110,000 and $175,000 for micro-cultivation and processor licenses respectively; and $905,000 for cultivation licenses.

Sales are set to start in November, with more than 100 licensed dispensaries’ applications with Mississippi’s Department of Revenue, which is in charge of tax and fee collection. It is expected that the state’s revenues will increase as sales start toward the end of the year.

Under Senate Bill 2095, which was signed into law in February 2022, patients in the state of Mississippi will be able to purchase concentrated cannabis products, flower, extracts and other products infused with cannabis, including beverages, edibles, oil, ointments and topical products.

The state of Mississippi plans to impose a 7% sales tax on medical cannabis being sold in dispensaries and a 5% tax on cultivators. During the program’s first year, the Department of Health will exact a one-off fee of $40,000 made up of a $15,000 application fee that’s nonrefundable for dispensary license applicants and a $25,000 license fee, which will be paid upon renewal annually. The dispensary licenses to be issued will be valid for a year while the cultivation licenses will only be valid for four months. The four-month duration covers the 90-day growth period for medical cannabis plants.

Individuals in need of transportation licenses will be required to pay a one-off fee of $5,000 as well as a $7,500 license fee. The same fee will be applied to licenses of disposal companies. Under the state’s regulations, transportation, disposal and processing licenses will also expire after four months.

Eligible patients will receive their medical cannabis cards from the health department. Each patient will be required to pay a nonrefundable levy of $25 for this card, with the exception of disabled first responders and veterans, for whom this fee has been waived. Patients with Medicare will be required to pay $15 to obtain the card.

Qualifying conditions that make patients eligible for medical cannabis include Parkinson’s disease, cancer, muscular dystrophy, Huntington’s disease, spastic quadriplegia, glaucoma, AIDS, HIV, amyotrophic lateral sclerosis, hepatitis, ulcerative colitis, Crohn’s disease, Alzheimer’s, sickle cell anemia, PTSD, autism and diabetic/peripheral neuropathy, among many others.

It looks as if the Mississippi medical cannabis market is set to be as lucrative as other markets in which industry companies such as American Cannabis Partners 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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Focusing on Multiple Mainstream Applications of Its Disruptive Patented DehydraTECH(TM) Technology

  • Lexaria is the drug delivery platform innovator behind the disruptive, patented DehydraTECH(TM) technology
  • DehydraTECH is designed to enhance the performance of fat-soluble active pharmaceutical ingredients (“APIs”), molecules, and drugs by increasing their bioavailability
  • Through animal and human studies, Lexaria has shown that DehydraTECH increases the bioavailability of antiviral drugs, CBD, oral nicotine and more
  • The company is focusing on multiple mainstream applications of its technology that rerrcould address serious unmet patient needs
  • Lexaria is currently keen on developing a potential treatment for hypertension 

Last summer, drug delivery platform innovator Lexaria Bioscience (NASDAQ: LEXX) announced a review of its successful 2021 antiviral drug program. The program, which aimed to determine whether the processing of leading antiviral drugs using its patented DehydraTECH could exhibit evidence of superior oral absorption relative to controls; whether DehydraTECH processing of these compounds would preserve the expected viral inhibitory performance; and whether DehydraTECH does not alter or degrade the drug molecules chemically, met all three of these objectives (https://cnw.fm/Nncql).

Lexaria specifically probed the bioavailability of five DehydraTECH-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.

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. For instance, compared to controls, DehydraTECH-CBD delivered 317% more CBD to the blood a half hour after ingestion, according to a 2018 human study (https://cnw.fm/RELX8), while DehydraTECH-oral nicotine delivery peaked in bloodstream 10x to 20x faster than controls as seen in an animal study (https://cnw.fm/T0jUM). 

DehydraTECH’s ability to increase the performance of different APIs represents multiple commercial opportunities that, when tapped, could potentially address serious unmet patient needs. Of the various markets the company is evaluating, hypertension is a good case in point.

Currently, only 1 in 5 adults with hypertension have it under control (https://cnw.fm/1tIsA), a worrying statistic attributable to the troublesome side effects of medication, which cause the patients to abandon their prescriptions (https://cnw.fm/jyX2O). Unfortunately, this means the overwhelming majority are at an increased risk of developing maladies such as heart, brain, and kidney disease or even death – hypertension is a major cause of premature death worldwide. But Lexaria is positioning DehydraTECH-CBD as a potential solution.

Through four human studies, the company has shown that DehydraTECH-CBD is well tolerated by all subjects, with no serious adverse events or side effects reported or observed. Moreover, the first three of these studies represented significant milestones in the pursuit of potential hypertension treatment. They have evidenced a rapid and sustained drop in blood pressure, a 23% average reduction in overnight blood pressure and reduced arterial stiffness, and attenuated pulmonary artery systolic pressure by approximately 5 mmHg, respectively (https://cnw.fm/usFiL). Lexaria expects to announce the results of its fourth human study, HYPER-H21-4, whose dosing was completed this summer, in due course (https://cnw.fm/el7NS).

HYPER-H21-4 is designed to enhance the company’s understanding of DehydraTECH-CBD for the treatment of heart disease and other disease states related to increased arterial stiffness. In addition, it is intended to improve Lexaria’s likelihood of success toward an Investigational New Drug (“IND”) application filing seeking the FDA’s approval to begin registered Phase 1b clinical testing. Having held a successful Pre-IND meeting, Lexaria is currently preparing to file the IND application by late 2022 or early 2023 (https://cnw.fm/hcYha).

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

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 — Epileptic Children in UK to Receive Free Medicinal Cannabis Through Private Donations

Children with epilepsy in the United Kingdom are scheduled to receive medical marijuana for free after private companies responded to a plea from Charlotte Caldwell. Epilepsy is a neurological disorder in which an individual’s brain activity becomes abnormal, causing seizures or unusual sensations and behaviors. In some cases, individuals may lose awareness.

Caldwell campaigned for help for families that incurred high costs of treatment for privately prescribed marijuana as they underwent a taxing application process for treatment under NHS. In a recent interview, Caldwell stated that this would make a big difference to families undergoing this process, especially in the current cost of living crisis, because it would greatly relieve their financial burden.

Caldwell has a son, Billy, who was diagnosed with severe refractory epilepsy. Billy was the first individual in the UK to be prescribed medical marijuana. Billy, who is now 17, undergoes a cannabis treatment three times daily. His mother reveals that this treatment has led to a decrease in the number of seizures her son suffers, from about 100 every day to almost none.

In late 2018, former Home Secretary Sajid Javid amended the law to permit patients to be prescribed medical marijuana by specialist physicians. The cost of this treatment, however, can be prohibitive. Now, three private companies have agreed to donate medicinal marijuana to children undergoing this process.

Roughly 90 families in the United Kingdom have epileptic children and are trying to access medicinal cannabis treatment from the NHS. This process involves applying for NHS funding for their child’s treatment through the Refractory Epilepsy Specialist Clinical Advisory Service. This process can take more than eight months, which means that before approval, families continue to incur bills in the thousands for these marijuana products.

An NHS spokesperson defended the lengthy advisory service process, stating that clinicians and professional bodies remained concerned about the lack of evidence available on the effectiveness and safety of these unlicensed cannabis products. The spokesperson encouraged more manufacturers to engage with the medicines regulator’s licensing process because this would allow physicians to be more confident in the use of these products, in a similar way to how other licensed drugs are recommended for use by the relevant regulatory body.

Despite these hurdles, the Caldwells and other families understand that the health service must take all the precautions necessary, even after seeing firsthand the positive effect medicinal cannabis has had on their children’s conditions.

As the system becomes more streamlined, the decision by the private firms donating medical cannabis products is a step in the right direction.

What would also help is to reform the cannabis rules so that parents and caregivers of epileptic patients can be allowed to use advanced technologies, such as the grow pods sold by Advanced Container Technologies Inc. (OTC: ACTX) to grow their own prescription-grade medical marijuana rather than having to rely on donations.

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

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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420 with CNW — Marijuana-Friendly Vacation Rentals on the Uptick as Legalization Spreads

Although the days of cannabis prohibition are far from gone, access to the plant has increased dramatically in the past couple of years. With 19 states allowing recreational cannabis use and more than 30 allowing residents to use cannabis for medical purposes, millions of people now consume cannabis. Data shows that around 48 million Americans have used cannabis at least once, and more than 3 million consider themselves recreational users.

As more states have adopted pro-cannabis policies, there has been an influx of marijuana-friendly vacation rentals, especially in states that allow recreational cannabis. All of the states that allow recreational cannabis use have outlawed public consumption, meaning people are only allowed to consume cannabis in private. However, this presents a significant challenge to a potentially lucrative segment: cannabis tourism.

Tourists who travel to states with recreational cannabis markets often lack a place to consume cannabis as most hotels do not allow indoor smoking. This locks out a segment of the market that could generate millions of dollars in cannabis sales. Cannabis-friendly vacation rentals are the answer to this problem.

These are vacation locations that allow guests to consume cannabis on site. Most of them are listed on Budandbreakfast.com, a website where guests find vacation spots that allow cannabis use. Even though the site has only 2,000 listings, interest in the cannabis-friendly rental segment is growing rapidly. Data from Forbes shows that despite being in its infancy, cannabis tourism is already worth $17 billion.

Entrepreneurs are looking to cash in by providing cannabis-friendly accommodation to cannabis tourists. Some particularly enterprising individuals are including a host of services to make them stand out from the crowd. For instance, Nicole Butler offers CBD massages, a fully stocked cannabis bar with a range of strains and cannabis education at her Washington, DC, rental for $420 per night.

Budandbreakfast.com, the site that allows guests to connect with cannabis-friendly hosts, was launched back in 2015 by Sean Roby. Although he and his business partners weren’t very optimistic about the chances of hosts allowing cannabis consumption on their properties, Roby says the site now sees dozens of bookings per day. These properties are in such high demand that some places are now booked out up to six months in advance, he says.

Listings on the site indicate the specific regions in the home where guests can smoke and whether the marijuana will be provided or guests should bring their own. These listings also provide information on cannabis dispensaries in the area and whether there are any marijuana-friendly events in the area.

The increasing proliferation of cannabis-friendly hosts and vacation rentals is sure to give the sales of marijuana producers such as Prime Harvest Inc. a boost because the rentals answer a nagging question about where visitors can consume their marijuana once they legally source it but can’t partake in public places such as restaurants and hotels.

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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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Working to Expand Indications, Efficacy of DehydraTECH(TM)

Lexaria Bioscience Corp. (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently received its 27th worldwide patent, granted in Mexico under registration #390001. “The patent applies to a range of active ingredients, including but not limited to non-psychoactive cannabinoids and NSAIDs in a wide variety of ready-to-drink consumer retail beverage products. The latest patent provides value to the company through its continued pursuit of gaining regulatory approval for its patented DehydraTECH(TM)-enabled cannabidiol (‘CBD’) for the treatment of hypertension in regulated pharmaceutical applications. This has produced the claims necessary for the Mexico patent to use DehydraTECH-processed non-psychoactive cannabinoids to treat cardiac and cardiometabolic disorders,” a recent article reads. “Additional claims granted to the Mexican patent #390001 include the treatment of neurological diseases, including Alzheimer’s, Parkinson’s, schizophrenia, and human immunodeficiency virus (‘HIV’) dementia. The indications also include obesity, hepatic diseases, diabetes, appetite disorders, cancer chemotherapy, benign prostatic hypertrophy, irritable bowel syndrome, biliary diseases, ovarian disorders, marijuana abuse, and alcohol, opioid, nicotine, or cocaine additions. With the approval of its 27th patent, the company is still working on expanding the indications and efficacy of its DehydraTECH technology – with ~50 pending patents worldwide.”

To view the full article, visit https://cnw.fm/JL7GL

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.

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CannabisNewsBreaks – REZYFi Inc. Positioned as One of the First Cannabis Mortgage Bankers in the US

REZYFi is a cannabis mortgage bank servicing the needs of both traditional and non-traditional consumers and businesses. The company is targeting markets that include licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based and project-specific financings – like solar installations and real estate development. “The company is positioned as one of the first cannabis mortgage bankers in the United States, an arena where most traditional lenders remain reticent to serve state-licensed cannabis companies. To overcome many of the challenges that the companies in the cannabis industry face, REZYFi plans to utilize its corporate strengths to facilitate growth, namely experience, a network of independent brokers, and proprietary technology,” a recent article reads. “REZYFi operates through its two wholly owned subsidiaries from its base of operations in Miami, Florida. The first, REZYFi Lending, primarily addresses the emerging real-estate related financing opportunities within the targeted industry. The second, ResMac Inc., is the company’s traditional mortgage origination, correspondent and servicing option.”

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

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.

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Flora Growth Corp. (NASDAQ: FLGC) Strategic Acquisitions, Expanding Cannabis Exports Give Significant Boost to Company’s Revenue Streams

  • Flora Growth is a global cannabis cultivator, product builder, and supplier, experiencing continued growth thanks to strategic acquisitions and an expanding supply chain for marketing its brands in various countries
  • Flora announced its most recent acquisition in September — a deal to acquire the assets of the No Cap Hemp Co. brand in exchange for payment of 10 percent of the No Cap brand revenues up to a maximum of $2 million 
  • The deal grants Flora an immediate revenue stream free of closing cost considerations
  • Flora has seen revenues skyrocket over the past year, with a 604 percent YOY increase in the H1 reporting period

Global cannabis cultivator, product manufacturer and distributor Flora Growth (NASDAQ: FLGC) 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 percent increase YOY in its H1 revenues to about $15 million, which was also a 117 percent 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, according to a Sept. 7 company news release.

“This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business,” Flora Growth Chairman and CEO Luis Merchan stated (https://cnw.fm/9lMtQ). “We look forward to increasing our product offering through this transaction while broadening our sales team in the process.”

Flora is headquartered in Canada where cannabis legalization has been pioneered, but the heart of the company’s operation is in northern Colombia, where its Cosechemos cultivation, extraction, and isolation facility, draws on an experienced workforce in the country’s fertile greenbelt to produce its brands.

Colombia is itself undergoing a cannabis transformation as it enacts progressive drug policy changes, establishing a regulatory framework to govern cannabis cultivation and exports. In August, Flora announced a distribution agreement with the Misak indigenous tribe’s pharmaceutical arm, which became the first native community business to receive a license from the national Ministry of Justice for legal cannabis production for medicinal and scientific use two years ago (https://cnw.fm/8m3lp).

The deal allows Flora to take advantage of the tribe’s “unique regulatory positioning” to rapidly advance the fulfillment of cannabis exports.

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.

“We continue to prudently manage our overhead and working capital as we expect to improve profitability going forward. With all three of our core pillars generating revenue in the second half of 2022 … we believe we have a path to profitability that few global cannabis companies can achieve in this difficult environment,” Merchan stated in August (https://cnw.fm/8HXqS).

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

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

About CannabisNewsWire

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

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CannabisNewsWire is part of the InvestorBrandNetwork.