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

Sugarmade Inc. (SGMD) Makes Strategic Advancements in Plan to Grow Presence in California Cannabis Space

  • SGMD inks MSA with California cannabis micro license holder
  • Agreement “lays a foundation for a significantly expanded manufacturing and distribution infrastructure,” says CEO
  • Key partnerships are essential pieces of Sugarmade’s focus on California cannabis space

With the recent signing of a management services agreement (“MSA”) (https://cnw.fm/7zHND), Sugarmade (OTC: SGMD) is making key progress toward the goal of strengthening 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.

“This deal will provide us with a new income stream as we apply our expertise and experience to mobilize Canndis’ assets and market positioning,” said Sugarmade CEO Jimmy Chan. “But it also has substantial strategic value because it lays a foundation for a significantly expanded manufacturing and distribution infrastructure under our control when we harvest our first crop.”

Sugarmade is anticipating harvesting that crop in the coming weeks, an accomplishment made possible through the company’s acquisition of a minority stake in RMI Ventures (d/b/a Jerusalem Grade Farm) (https://cnw.fm/PCcMm); the property is licensed for 43,560 square feet of outdoor canopy area and is currently growing at full capacity this season. Sugarmade and RMI Ventures signed an LOI earlier this year.

These strategic agreements are essential pieces of Sugarmade’s focus on growing its presence in the cannabis space. The MSA calls for Sugarmade to assume management responsibilities and operational control over manufacturing and distribution of cultivated cannabis produced 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.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush, 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.

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420 with CNW — World Anti-Doping Agency Announces That Cannabis Will Remain on Banned Substances List

Last week, the World Anti-Doping Agency announced that cannabis would remain on its list of banned substances for international athletes. This comes after a scientific review conducted by the agency and a subsequent discussion found that the use of marijuana violated the spirit of sport.

Whether a particular drug should be banned is dependent on whether the substance meets at least two out of the three criteria the organization uses in its evaluation. One of those is criteria is violating the spirit of sport. The agency also considers whether a substance represents a health risk to the athlete and whether it has the potential to improve an athlete’s performance.

In 2021, advocates urged the organization to enact a reform after Sha’Carri Richardson of the U.S. Olympic team was suspended from taking part in an Olympics event because of a positive THC test. THC is one of the primary psychoactive compounds found in marijuana, the other being CBD. Unlike CBD, however, THC causes individuals to get high.

In response, the World Anti-Doping Agency (WADA) conducted a review of marijuana as a performance-enhancing drug. Despite this, the executive committee made the decision to uphold the drug’s prohibition.

In a press release, Olivier Niggli, the agency’s director general, stated that the question of how THC needed to be dealt with in a sports context wasn’t straightforward. Niggli continued that WADA was aware of the diversity of perceptions and opinions associated with marijuana globally as well as within various nations.

He then explained that the agency was also mindful that the requests asking for THC to be removed from the list of prohibited drugs wasn’t supported by the review conducted by experts; he noted that WADA was also conscious that the laws of most countries, as well as broad global regulatory policies and laws, supported leaving marijuana on the list.

After Richardson was suspended, the U.S. Anti-Doping Agency released a statement regarding how international rules of cannabis needed to change. This sentiment was echoed by congressional leaders and President Joseph Biden, who signaled that the time for new policies had come.

Despite all these calls for reform, the WADA noted that the executive committee decided against changing its course. It was first reported that the agency intended to keep the ban on marijuana in place a few weeks ago. However, it hadn’t been confirmed until now.

Niggli added that the organization remained focused on conducting research in the area, particularly in relation to THC’s performance-enhancing effects.

This announcement is sure to be disappointing to athletes who had planned on using state-legal marijuana provided by companies such as Flora Growth Corp. (NASDAQ: FLGC) for medicinal or recreational purposes.

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 — NIDA Seeks Contractor to Grow, Analyze 4,000 kg of Marijuana

For decades, researchers who were able to secure cannabis research permits were required by federal law to source cannabis flower from a farm at the University of Mississippi. Researchers have long complained that the cannabis produced at the university was subpar and impacted research into the plant’s potential benefits and risks.

In 2019, a study by University of Northern Colorado researchers revealed that the cannabis grown at the University of Mississippi was genetically closer to hemp than the cannabis sold in commercial dispensaries. Consequently, researchers, reform activists and stakeholders have been pressuring regulators to allow the use of commercial cannabis in scientific studies. Regulators have relented in recent years and licensed more cultivators to provide cannabis for research.

The National Institute on Drug Abuse (NIDA) is now seeking a contractor that is capable of growing and analyzing 4 million grams (4,000 kg) of cannabis. Last week, NIDA published a request for proposal (RFP) stating that it was looking for contractors that could grow, test and roll joints with approximately 4 million grams of marijuana over a period of five years. If the agency awards a company with such a contract, it would be the end of the University of Mississippi’s 50-year monopoly on the cultivation of marijuana for research.

Applicants interested in securing the contract will have to possess Drug Enforcement Administration (DEA)-issued Schedule I research registration to qualify for the bulk cannabis supply deal. The RFP says that the main goal of the contract is to provide materials for cannabis research, and it requires a source that can consistently produce cannabis that is contaminant free and has predictable potency.

The RFP also states that the contractor will be tasked with producing or procuring cannabis, cannabis extract, or any other marijuana-derived materials for use in clinical and basic research. The contractor will also be required to run qualitative and quantitative analyses, provide stability determination and offer recommendations for how to store cannabis that is approved for research. This contractor would have to supply enough cannabis to support a wide variety of cannabis research projects, with the proposal stating that they would need a production capacity of around 8,800 pounds of cannabis over the five-year period.

The contractor would have to procure 1,100 pounds in the first year, which is equal to around 1.6 million standard joints. Over the entire five-year period, running from March 23, 2023, to March 22, 2028, the contractor would be required to provide 12.5 million joints worth of cannabis.

Hopefully, the steps being taken by NIDA and other federal health agencies will eventually result in regulatory changes that could make the legal landscape in which licensed marijuana companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) operate a little more conducive to the success of the industry.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

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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NECANN The High Lifestyle Show Comes to Massachusetts

Date: October 7-9, 2022

The first of its kind Cannabis event ‘The High Lifestyle Show’ is finally being held in Massachusetts, on October 7-9, 2022 at the Regency Hotel (Boxborough, MA). The event is organized by NECANN, the leading cannabis event organizer on the East Coast. Being held in a sprawling plush resort hotel, the event will witness a huge gathering of brands, dispensaries, distributors, growers, performers, and consumers, along with exhibitors, vendors, experts, and celebrities, all interacting in a positive socializing and networking environment.

While other Canna events revolve around cannabis manufacturing and medication, this NECANN event is a complete lifestyle event that discusses the novel cannabis products and innovative ideas, cultivation and manufacturing techniques, trade, recreation, prospects and health aspects, all in a conducive setting amidst several artists performing to entertain the audience.

The NECANN events attract a huge number of hemp, MMJ, and cannabis industry professionals in the Northeast. These events are the home base for the New England cannabis industry. NECANN’s ‘The High Lifestyle Show’ is a great platform for newbies and budding entrepreneurs to get discovered by capital investors. It offers robust networking and business opportunities for cannabis growers, consumers and industries across the region.

With medicinal and recreational marijuana legal in Massachusetts, the participants at the lifestyle event are expected to grow phenomenally. The event is attended by industry thinkers and cannabis leaders who share their views, insights, and ideas, and discuss the future trends of this evolving industry. the latest laws and regulations in the cannabis market are also discussed at this unique show.

Witness highly effective B2B and B2C networking, where vendors, traders, enthusiasts and industry veterans, discuss and exchange interesting ideas and education. Adults over 21 in Massachusetts now have the freedom to buy cannabis products from their favorite brands and retail outlets. Exhibitors will set up booths from where they will pitch their products and services. (No THC products will be on sale at the event campus).

The networking amongst attendees and industry veterans will take place in a fun and interactive setting designed to encourage a tremendous exchange of critical professional knowledge related to the products, regulations, and trends, of the fast developing cannabis industry.

To know more, please visit https://cnw.fm/w3mpb.

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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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Enters Strategic Partnership with Rob Van Dam, Continues to Capitalize on Cannabis 3.0

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company and cannabis distributor, today announced its entry into an exclusive licensing agreement with WWE Hall of Fame wrestler and cannabis pioneer Rob Van Dam to bring his branded cannabis products to the California retail marketplace. “Our industry has matured over the past several years, and that maturation has fundamentally focused success in the retail marketplace around effective product branding. There is a lot of competition for product shelf space in retail stores. Retailers look to the brands that are likely to generate the most sales, and the well-known cannabis brands are the ones that consumers will choose,” said Bradley J. Yourist, Grapefruit’s CEO and co-founder. “Our strategic partnership with Rob Van Dam and his team is a natural fit. Rob is a cannabis pioneer with a large and loyal following. His cannabis brand, RVD, has an advantage that other cannabis products lack and fits the new ‘Cannabis 3.0’ environment, which is all about creating exciting and popular branded cannabis and hemp-based products. We look forward to expanding our footprint in California and, eventually, nationwide, bringing the highest-quality RVD cannabis products to California cannabis consumers and patients in need to enhance their health and well-being. Grapefruit’s plan for transitioning into a science-based cannabiotech company remains unabated while we capitalize on Cannabis 3.0 in California.”

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

About Grapefruit USA Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs.

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Addressing Hypertensive Patients’ Concerns with DehydraTECH-CBD

  • Lexaria is a global innovator in drug delivery platforms whose lead technology is DehydraTECH(TM)
  • Studies have shown that DehydraTECH increases the intestinal bioabsorption of bioactive compounds by as much as 27 times, hence resulting in greater bioavailability; pre-clinical and human studies have demonstrated that DehydraTECH-CBD enables absorption increases of between 100% and 500% The studies have also shown that DehydraTECH-CBD results in a rapid and sustained drop in blood pressure among hypertension patients
  • Lexaria, which believes there is a significant unmet demand for cost-effective hypertensive treatments with few or no side effects, is working toward commercializing DehydraTECH-CBD to satisfy this demand

Currently, roughly 20% of people diagnosed with hypertension take medication, with the remaining majority noting that the medications’ side effects substantially outweigh the benefits. This has often constrained the fight against hypertension, the most common cardiovascular disease worldwide, which affects more than one billion people and is associated with long-term morbidities such as heart disease, stroke, and even death.

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, believes the hesitance or refusal to take medication presents a significant unmet demand for more tolerable, cost-effective anti-hypertensive treatments and has been working to bring such treatments to the masses. Specifically, the company is developing a new potential treatment with few or no side effects to address a majority of hypertensive patients’ concerns about taking hypertension medication.

The company’s drug candidate, DehydraTECH(TM)-processed CBD, has been the subject of animal and human studies, which have yielded “extremely promising early results,” according to Prof. Philip Ainslie, PhD., Lead Investigator in Lexaria’s human hypertension studies, who was recently interviewed by PCG Digital (https://cnw.fm/4roeO). These results are thanks, in part, to the improved performance offered by the company’s patented DehydraTECH drug delivery technology.

The technology, Lexaria’s studies have shown, increases the intestinal bioabsorption of bioactive compounds by as much as 27 times. This results in greater bioavailability of these therapeutics at lower doses. Nowhere else is this as apparent as in the case of CBD. CBD or cannabidiol, Prof. Ainslie explained, “is a complex fat-soluble molecule and is known to have poor absorption characteristics. Typically, only about 6% of what is orally ingested enters the bloodstream. Through our pre-clinical and human studies, we have shown that DehydraTECH technology enables absorption increases of between 100% and 500%.”

Additional results from the company’s 2021 studies – HYPER-H21-1, HYPER-H21-2, and HYPER-H21-3 – have demonstrated that DehydraTECH-CBD caused a rapid and sustained reduction in blood pressure among hypertensive volunteers. “The improvements in blood pressure results were particularly remarkable given the fact that many existing drugs used to treat hypertension require several weeks of treatments and/or combination dosing before they produce comparable reductions in blood pressure,” underlined Prof. Ainslie.

Just recently, Lexaria completed its most comprehensive human hypertension study, HYPER-21-4, which enabled them to gather critical data monitoring the safety and efficacy of the DehydraTECH-CBD formulation over a prolonged period. The study, Prof. Ainslie noted, will allow the company to evaluate the formulation’s potential for longer-term health benefits.

The completed studies are, however, just the beginning – Lexaria plans to undertake clinical trials with the FDA that seek to demonstrate the safety and tolerability profile relative to conventional anti-hypertensive medications. These trials will also aim to avoid serious adverse events at clinically efficacious doses.

According to the Lead Investigator, establishing safety is extremely important because, though often well-tolerated, CBD can potentially cause liver toxicity, particularly when given in the high therapeutic doses required for conditions such as epilepsy or hypertension. As a baseline, Epidiolex, the only FDA-approved CBD drug, has an approved dose of 10mg per kilogram of body weight, given twice daily. Lexaria, however, believes its DehydraTECH technology has the potential to reduce the prescribed doses because of its ability to enhance CBD’s bioavailability.

“There could be significant benefits in allowing its dosing to be reduced while maintaining therapeutic delivery levels, and we have already been investigating a range of doses lower than those already approved by FDA for Epidiolex, for example,” Prof. Ainslie emphasized.

The completed and planned research is part of a greater goal: commercialization. To that end, Lexaria has engaged the FDA resulting in confirmation that the agency supported the company’s proposal to pursue the abbreviated 505(b)(2) New Drug Application (“NDA”) (https://cnw.fm/nR5jM). The abbreviated pathway enables a faster route to commercial approval than the traditional pathway.

Presently, and following the confirmation, the company is working on preparatory work that will facilitate the filing of an Investigational New Drug (“IND”) application and is on track to file by year’s end or early 2023. Thereafter, and upon approval of the application, Lexaria expects to commence its proposed US-based Phase 1b clinical trial involving about 100 hypertension patients. As part of the study, the participants will receive a dose of DehydraTECH-CBD to evaluate the safety and efficacy of the formulation as well as 24-hour ambulatory blood pressure.

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 — New York OKs Medical Marijuana Home Cultivation, Licenses Processors

The New York Cannabis Control Board recently approved regulations that would expand the state’s medical cannabis industry and increase patient access to medical marijuana. Recently the board adopted regulations for medical cannabis home cultivations, approved conditional licenses for processors and cultivators, and appointed a new deputy counsel to the state’s Office of Cannabis Management.

Registered medical cannabis patients in New York will now be able to grow up to six plants at home without any legal consequence while caregivers can grow up to 12 cannabis plants. New York’s medical cannabis law allows designated caregivers to grow medical marijuana for up to four patients. Furthermore, the new regulations will bar landlords from penalizing or refusing to lease to patients who grow cannabis for medical purposes.

Medical marijuana patients in New York will now have a more affordable way to access cannabis. Recent research into the plant’s capabilities has found that it can be effective against conditions such as chronic pain, inflammation, anxiety disorders and gastrointestinal disorders.

The state’s medical cannabis industry has seen shockingly low participation levels. Participation levels in New York especially pale to Florida’s levels, which number 561,177 medical cannabis patients. As of March 2022, there were 125,303 medical cannabis patients and 3,603 certifying practitioners in New York.

The Cannabis Control Board also approved conditional licenses for 10 marijuana processors and 19 cultivators, bringing the total number of operators with conditional cultivator and processor licenses to 261 and 25 respectively. Furthermore, board members appointed Patricia Heer as the first deputy general counsel of the Office of Cannabis Management.

The position had been vacant since July when Rick Zahnleuter abruptly left the agency. Zahnleuter had been the OCM’s general counsel since August 2021. An amendment to New York’s cannabinoid hemp program creates a new kind of license that will, among other things, increase the maximum allowed cannabis serving from 75 milligrams to 100 milligrams per serving and allow farmers to sell the hemp they cultivate.

These regulations come soon after the end of a public comment period that saw members of the public provide feedback on the state’s medical cannabis home grow regulations. The Office of Cannabis Management amended certain parts of the regulations based on this feedback. According to Cannabis Control Board Chair Tremaine Wright, the public’s participation made a significant difference. Wright also says that the staff at the Office of Cannabis Management did its research to make sure they crafted thoughtful, well-researched regulations for home cultivation.

The passing of the home-grow regulations now allows qualifying patients and their caregivers to leverage the latest vertical gardening technologies commercialized by companies such as Advanced Container Technologies Inc. (OTC: ACTX) in the quest to harvest the highest-quality medical-grade cannabis.

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 — Nevada Judge Rules That Marijuana Should Be Removed from Schedule 1 Classification

Last week, a judge in Nevada ruled that the classification of cannabis as Schedule I substance under the federal Controlled Substances Act went against Nevada’s constitution. This ruling comes after the U.S. Court of Appeals for the Second Circuit ruled that the federal government’s decision to classify marijuana as a Schedule I drug wasn’t unconstitutional, despite being irrational. The case’s defendants argued that cannabis’ scheduling under the Controlled Substances Act had no rational basis because the plant didn’t meet the criteria for inclusion under its current schedule.

The Controlled Substances Act was approved by the 91st United States Congress in 1970 and signed into law by former President Richard Nixon. Marijuana is classified as a Schedule I drug, together with drugs such as peyote, ecstasy, LSD, heroin and methaqualone.

This new ruling is based on a lawsuit filed by the American Civil Liberties Union of Nevada against the Board of Pharmacy. In their argument, the plaintiffs stated that the Schedule I classification was usually reserved for substances that had a high potential for abuse, could not be safely distributed and had no currently accepted medical use.

The plaintiffs also explained that this wasn’t consistent with what Nevada voters chose more than two decades ago when they legalized the medical use of marijuana and again when they voted to legalize the recreational use of marijuana in 2017.

The judge seems to agree with them, based on this ruling.

Christopher Peterson, legal director of Nevada’s American Civil Liberties Union, stated that the agency’s objective was to have cannabis consistently recognized throughout state law and treated appropriately. He explained that when voters legalized the medical use of marijuana, this resolved inconsistency under state law, because there was a shift in how individuals viewed the plant, especially because they recognized its medical value even before the law recognized it.

Peterson added that their lawsuit was also launched to help the courts recognize this, noting that the court was still considering whether to remove the ability to regulate cannabis and marijuana completely from the Board of Pharmacy.  He argued that the agency wanted the ruling mainly because it already had a number of executive agencies that had been tasked with marijuana regulation, giving the example of the Cannabis Compliance Board.

The court is expected to issue a formal order about the change in marijuana’s categorization within the state’s Controlled Substances Act in the next few weeks. The Board of Pharmacy is yet to respond for comment.

The plaintiffs in this Nevada case concerned themselves with the contradiction between the state constitution and the marijuana legalization law, and marijuana industry players such as Prime Harvest Inc. often find themselves staring major regulatory contradictions in the face, such as the disconnect between state-level marijuana laws and federal drug policies.

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 – Lift&Co. Expo 2023 to Showcase 130+ Expert Speakers and Exclusive Educational Content

Lift&Co. Expo, Canada’s no. 1 cannabis conference and trade show, is set to return to the Vancouver Convention Centre in Vancouver, British Columbia, on Jan. 12-14, 2023. The premier event for seasoned professionals, recreational and medical consumers, industry associations, sectoral pioneers, dedicated media, and specialist investors engaged in the cannabis sector will feature more than 130 expert speakers. In addition, various sessions will showcase exclusive educational content, including presentations and panel discussions that shed light on the opportunities and day-to-day challenges across every facet of the Canadian cannabis business sector. The agenda will shed light on key topics, including trends in the international cannabis market, productivity projections and the scope for increasing profitability, shifting economic forces, and discussions on recent legislations. The immersive three-day event will position participants to generate new high-quality leads, engage with influential decision-makers, and explore potential synergies for local, regional, national, and even global expansion.

To view the full press release, visit https://cnw.fm/myYZ7

About Lift&Co. Expo

Lift&Co. Expo is Canada’s No. 1 Cannabis Conference & Trade Show, delivering expert insights and education, as well as the ultimate in business-building networking and an expo floor showcasing hundreds of products, services and industry innovations. All this, plus famous surprises and a-ha! moments. Lift&Co. Expo is proudly managed by MCI Events. To purchase tickets, register as an exhibitor or partner, apply for speaking opportunities, or to learn more about Lift&Co. Expo Vancouver 2023, visit https://liftexpo.ca/lift-co-expo-vancouver-2023.

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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Rising Mortgage Lender REZYFi, Inc. Weathering Difficult Economy with Plans for Nationwide Expansion, Cannabis Industry Lending in Coming Months

  • REZYFi, a Miami-based mortgage lender, servicing traditional and non-traditional loans, is expanding its operations as part of a strategy to weather recent interest rate-affected market challenges
  • REZYFI’s two wholly owned subsidiaries, REZYFi Lending and ResMac Inc., work through a network of independent brokers and proprietary technology to service home owners as well as corporate clients
  • REZYFi expects to grow from more than 30 states where it is licensed to holding a licensing in every state
  • The company is also preparing to launch a high-margin cannabis commercial real estate lending division later this year

Emerging mortgage lender company REZYFi (stylized as “RZFI”) is building toward a planned launch for its product, which targets hard-to-finance lending markets in addition to traditional real estate consumers and includes a developing proprietary technology that will underscore its economy in turnaround time and staffing.

Housing prices rose at a record 43 percent appreciation during the height of the pandemic as the U.S. workforce reconsidered career priorities and quality of life issues, often seeking greener pastures with the hope of greater remote work opportunities (https://cnw.fm/oM9TZ). But in recent weeks, the market has entered the beginnings of a correction — spurred largely by ongoing inflationary concerns and the Fed Reserve’s efforts to curb it by raising interest rates (https://cnw.fm/FnFKF).

As a result of the economic pressures, a number of mortgage lenders have gone bankrupt, particularly among non-qualified (non-QM or NQM) lenders that cater to businesses and consumers that struggle to get a qualified mortgage loan (https://cnw.fm/SQXxd).

REZYFi’s 100 percent-owned subsidiaries — REZYFi Lending and ResMac Inc. — have felt the pressure as well, but are emerging as models of how companies can survive and emerge stronger.

“We’re not the most expensive, and we’re not the least expensive lender. We really pride ourselves on delivering execution and service, really not getting into the price battle, because we’re not a large company with a large balance sheet that can buy down prices and compete on price,” ResMac’s Chief People Officer Evan Tullos told HW Media this month (https://cnw.fm/kb8jC).

Tullos noted the company’s efforts to manage efficient staffing levels and expand its products and services into more commercial markets as part of its growth strategy. A significant segment of the commercial market is state-licensed operators in the cannabis industry, which have long struggled to obtain traditional loans and other banking services despite the boom they’ve enjoyed in recent years as state-by-state legalization efforts have advanced (https://cnw.fm/WgHWU). 

RZFI plans to launch a high-margin cannabis division later this year, during its Q4 reporting period, further signs of its expectations for its growth strategy. The company is licensed in more than 30 U.S. states and expects to expand to all remaining states.

The company has invested heavily in designing, building and implementing proprietary automated/machine learning technology to increase efficiencies and improve its outcomes, making it possible to operate its legacy business at staffing levels “meaningfully below those of its competitors,” according to the company.

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.

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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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CannabisNewsWire is part of the InvestorBrandNetwork.