Author: CannabisNewsWire (CNW)

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

CannabisNewsBreaks – Bright Green Corporation (NASDAQ: BGXX) Announces Pricing of $10M Private Placement

Bright Green (NASDAQ: BGXX) is one of the few companies selected by the U.S. government to grow, manufacture and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export. The company recently announced its entry into a securities purchase agreement with institutional investors to purchase 9,523,810 shares of common stock and warrants to purchase 9,523,810 shares of common stock, at a purchase price of $1.05 per share and accompanying warrant. The company expects approximately $10.0 million in gross proceeds from the offering, which, subject to the satisfaction of certain customary conditions, is expected to close on Sept. 12, 2022. EF Hutton, division of Benchmark Investments LLC, is acting as exclusive placement agent for the offering.

To view the full press release, visit https://cnw.fm/Mr19K

About Bright Green Corporation

Bright Green is one of the very few companies selected by the U.S. government to grow, manufacture and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export. Bright Green’s conditional approval, based on already agreed terms from the U.S. Drug Enforcement Administration, positions the company to advance its vision of improving quality of life through the opportunities presented by cannabis-derived therapies. To learn more, visit www.BrightGreen.us.

About CannabisNewsWire

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

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Acquires 27th Worldwide Patent Applying to a Range of APIs in Ready-to-Drink Consumer Retail Beverage Products

  • Lexaria’s Mexican patent “Stable Ready-to-Drink Beverage Compositions Comprising Lipophilic Active Ingredients” joins the ranks of previously issued patents in Australia, India, Japan and the EU
  • The patent allows the company to provide value in gaining regulatory approval for its DehydraTECH(TM)-enabled CBD for multiple indications in the health and wellness field
  • Additional claims to Mexican patent #390001 include Alzheimer’s disease, Parkinson’s disease, schizophrenia, Human Immunodeficiency Virus (“HIV”) dementia, 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 addictions
  • The global market of CBD for health and wellness purposes was valued at $4.9 billion in 2021 and is expected to grow to $47.22 billion by 2028

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has announced that the Company has received its 27th worldwide patent, granted in Mexico under registration #390001. The patent from Lexaria’s third patent family, “Stable Ready-to-Drink Beverage Compositions Comprising Lipophilic Active Agents,” has already been issued in Australia, India, and Japan (https://cnw.fm/bsY27). 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.

Lexaria’s 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.

Additional claims granted to the Mexican patent #390001 include the treatment of neurological diseases, including Alzheimer’s disease, Parkinson’s disease, 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 addictions.

Lexaria’s DehydraTECH(TM) technology improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules. The technology promotes fast-acting, less expensive, and more effective drug delivery and has been thoroughly evaluated through vivo, in vitro, and human clinical testing. Major benefits of the technology include:

  • Increased drug delivery times in which patients feel the effects in a matter of minutes
  • Increased bioavailability through the bloodstream
  • Increased brain absorption as demonstrated through animal testing with higher drug quantities being delivered across the blood-brain barrier
  • Improved drug potency with more of the drug ingested and made available to the body with lower dosing required to achieve maximum results
  • Reduction in drug administration costs due to the reduced amount needing to be delivered
  • Masking unwanted tastes which reduces the need for unnecessary sweeteners

The global demand for CBD for health and wellness purposes is high, with the worldwide market being valued at $4.9 billion in 2021 and expected to grow at a CAGR of 21.3% from 2022 to 2028, resulting in a value of $47.22 billion by 2028. The rise in demand can be attributed to the increased acceptance and use of CBD for wellness purposes and government approvals (https://cnw.fm/9NBPR).

With the approval of its 27th patent, the company is still working on expanding the indications and efficacy of its DehydraTECH(TM) technology – with ~50 pending patents worldwide. The company’s pursuit has allowed it to leverage additional industries, including the need to fill a deficit in the hypertension market. On average, hypertension costs the country $131 billion annually, with more than 670,000 deaths in the United States attributed to hypertension as a primary or contributing factor in 2020.

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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420 with CNW — New Study Debunks ‘Lazy Stoner’ Stereotype of Marijuana Users

After decades of cannabis criminalization and anti-cannabis propaganda, certain stereotypes about cannabis users have become entrenched in the public mind. The stereotypical image of a cannabis user as an apathetic “lazy stoner” who spends his days getting high, polishing off Doritos and generally contributing nothing to society is one example. Tons of people, especially older generations that grew up in the era of the drug war, tend to believe this stereotype.

However, a new study has revealed that the stereotype of cannabis users as unmotivated and lazy is far from factual. Researchers found that there was no difference in reward-based behavior and apathy among people who used cannabis at least once a week and people who didn’t use cannabis at all. Furthermore, the researchers discovered that cannabis users tend to experience more pleasure than people who abstain from using cannabis.

The study is among the first to look into preconceived societal notions of cannabis users, finding that the stereotypes that have been propagated by popular media and anti-cannabis activists are far from the truth. Researchers arrived at these findings by studying the data of 274 adolescents and adults who self-reported using cannabis one to seven times weekly over a three-month period. The results of the study were published in the “International Journal of Neuropsychopharmacology.”

The research found that long-standing stigmas against cannabis users are not based on fact, with cannabis reform opponents basing their opposition on the “fact” that cannabis use contributes to apathy and laziness. Researchers from the University College London and the University of Cambridge argued that their findings are not consistent with the prevalent idea that nonacute cannabis use is closely related to apathy and lack of motivation.

They took the study participants through four assessments to measure their inability to experience pleasure (anhedonia), reward-based motivation, apathy and reward responses in general in both adults and adolescents. After comparing the results of the assessments with a control group of non-cannabis users, the researchers found that semiregular cannabis use is not associated with these negative outcomes.

Using cannabis approximately three to four days per week does not contribute to apathy, effort-based decision-making for reward, reward liking in adolescents or adults, or reward wanting, the study reported, challenging those who argued that cannabis use was associated with apathy. Additionally, the researchers found that contrary to stereotypical beliefs, cannabis users are marginally more capable of experiencing motivation despite their use rates and that there was no statistically significant difference in apathy levels between users and non-users.

As more of these baseless stereotypes are disproved by science, the world is likely to see more people trying cannabis and even taking an additional step forward by growing their own plants using the handy micro gardens commercialized by companies such as Advanced Container Technologies Inc. (OTC: ACTX).

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.

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420 with CNW — Director of Federal Health Agency Blasts Cannabis Research Barriers Impeding Opioid Research

Decades of cannabis prohibition in America have made scientific research into cannabis virtually impossible. Even as dozens of states have now legalized cannabis for medical use, federal law has proven to be a major challenge to cannabis researchers.

Several studies have shown that the drug does in fact have effective medical applications, but federal prohibition still remains a hindrance to cannabis research.

According to a top federal health official, the nascent marijuana research space is “fraught with hurdles” that have to be addressed in order to facilitate studies into how cannabinoids can be used as safer tools to manage pain in place of opioids. In a recent blog post, Helene Langevin, director of the National Center for Complementary and Integrative Health (NCCIH), stated that most federally funded cannabis research is only focused on the potential dangers of using delta-9 tetrahydrocannabinol, the main psychoactive agent in cannabis.

Langevin argued that it was crucial to open up cannabis research outside of the narrow focus on its potential harms and look more broadly into the potential benefits and harms of cannabinoids such as THC and CBD.

As such, the NCCIH recently issued a request for information asking for feedback from the scientific community regarding the factors that act as barriers to research into the health benefits and risks of cannabis and cannabinoids to users. Langevin noted that the chief barrier to cannabis research is the fact that it is still classified as a Schedule I drug under the federal Controlled Substances Act. This means that researchers interested in studying the plant have to go through a long, arduous process to secure a Schedule I license, while other researchers are often held back by the dearth of standardized measures for cannabis doses and modes of administrating the drug.

Langevin also explained that identifying barriers such as these and developing ways to overcome them will allow researchers to “successfully generate more scientific evidence” on the potential risks and benefits of using cannabis as an alternative to opioids. She added that the comments the agency receives in response to the recent request will help inform its efforts to advance cannabis research.

Langevin isn’t the only top federal health official who has recognized the effect prohibition is having on cannabis research. Nora Volkow, director of the National Institute on Drug Abuse, revealed in late 2021 that she avoids studying Schedule I drugs such as cannabis because of the bureaucratic challenges involved with obtaining a Schedule I research license.

It is those bureaucratic obstacles that make it burdensome for marijuana companies such as Prime Harvest Inc. to conduct the research necessary to maintain their competitive edge on the market.

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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420 with CNW — Marijuana Drinks Proliferate as Businesses Hope to Tap Growing Segment

Cannabis is an extremely versatile product. Cannabinoids, the chemical compounds in cannabis that are responsible for its effects, can be extracted from the plant and infused into a range of products. Aside from the usual cannabis flower, people can consume cannabis in a wide variety of ways, including edibles and concentrates, with each method of application altering the experience in different ways.

In recent years, cannabis-infused beverages have emerged as a major competitor to top-selling cannabis products such as flowers and concentrates. With studies showing that younger people are drinking less than older generations, many companies are marketing cannabis drinks as alternatives to alcohol. More companies in the cannabis space are now including cannabis beverages in their product lines to attract consumers who are in the market for a safer alternative to alcohol.

These drinks tend to contain either THC, the main psychoactive agent in cannabis, or CBD (cannabidiol), a cannabis extract that is said to have health benefits. Advancements in technology, especially the development of nanoemulsification tech, have allowed manufacturers to infuse THC and CBD into an array of drinks. Modern cannabis drinks are as smooth and high-quality as any other commercial beverage, and companies in the cannabis beverage space are hoping that the drinks will act as an alternative to consumers who don’t want to vape, smoke cannabis flower or drink alcohol.

Infusing cannabis into beverages also makes it possible for social consumption, and because of the minimal doses, consumers can take cannabis drinks without getting severely intoxicated. Despite being young, the marijuana beverages segment has already attracted numerous companies, says New Frontier Data vice president of public policy research Amanda Reiman. She noted that the space is now home to dozens of companies, giving consumers plenty of products to choose from.

For instance, Pabst Blue Ribbon leveraged its experience manufacturing spirits and beer to launch a line of nonalcoholic High Seltzers. Each can weighs 12 ounces and contains 10 mg of THC; the company also offers the drinks in lemon, mango, strawberry and pineapple. Pabst Blue Ribbon isn’t the only beer and spirits company that has expanded into cannabis beverages; Budweiser maker Anheuser-Busch, Corona Extra and Modelo Special Maker Constellation Brands. Ceria and Lagunitas Brewing Company have also expanded into the sector.

These companies produce water-based drinks with 2.5 mg to 10 mg of THC. Keef Brands CEO Travis Tharp says that the cannabis beverages segment has plenty of room to grow, stating that it has seen substantial year-over-year growth in recent times. Based in Colorado, Keef Brands produces a line of cannabis drinks that includes a 100-milligram mocktail.

These shifts in consumer preferences are most likely being watched closely by similar companies, including Flora Growth Corp. (NASDAQ: FLGC), and the future plans of these companies could be influenced by these emerging trends.

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 — California Legislators Approve Measure Protecting Workers’ Off-Duty Cannabis Use

Earlier last week, legislators in the state of California approved a measure that would prevent firms from penalizing workers who failed drug tests to detect whether an individual had used cannabis in the recent days.

These tests, which usually use hair or urine samples, look for substances the body makes as it breaks down THC. THC is the primary psychoactive compound found in cannabis, which induces a high when consumed. The substances in question are known as metabolites and can remain in an individual’s body for weeks after they have been used. This means that individuals can fail a drug test even if they haven’t consumed marijuana recently.

This measure would prevent workers from being penalized if they fail such drug tests. However, companies can still punish their workers for failing other tests that use saliva to determine whether an individual is high.

The measure has been advanced to the desk of Gov. Gavin Newsom, who will have until the end of September to sign it into law. If approved, the bill would take effect on Jan. 1, 2024. The author of the measure, Assembly member Bill Quirk, stated that nothing in the initiative permitted individuals to go to their workplaces high.

In 1996, the state of California became the first state in the country to legalize medical cannabis use. Two decades later, the state was among the first to legalize the recreational use of cannabis. Despite these historical strides, the state hasn’t made a significant effort to pass laws protecting its workers who use cannabis once they’re off the clock.

Labor unions postulate that punishing employees for doing something legal after work hours is unfair, especially as such use does not interfere with their work responsibilities. The United Food and Commercial Workers Local 324’s secretary-treasurer Matt Bell stated that administering outdated marijuana tests didn’t increase workplace safety and, instead, made employees feel harassed and unsafe at work.

According to the National Organization for the Reform of Marijuana Laws, 21 states in the country have laws that protect workers who use medical cannabis from discrimination. On the other hand, the states that have laws protecting the rights of their workers to use recreational cannabis include Rhode Island, Montana, Connecticut, New Jersey, New York and Nevada. Once Newsom approves the measure, California will become the seventh state to protect its workers from any punishment if they use marijuana once they’re off the clock.

The enactment of this law could potentially result in an uptick in sales made by California-based companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) because customers who once feared losing their jobs may be less hesitant about indulging while in their free time.

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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Flora Growth Corp. (NASDAQ: FLGC) Names New CFO, Process for Ensuring Smooth Transition Amid Company’s Global Growth

  • Global cannabis brand-builder Flora Growth recently named a former Amazon financial executive as its new CFO
  • Elshad Garayev will work with outgoing CFO Lee Leiderman to ensure a smooth transition of responsibility amid finalization of Flora’s mid-year financial filing with the SEC
  • Flora Growth is headquartered in Canada with cultivation operations centered in Colombia, where recent government administrations have opened regulatory processes for exporting cannabis derivatives for the health and wellness markets
  • The company continues to expand its operations internationally for sales in the UK and Europe generally, Australia, and throughout the Americas

Global cannabis brand-builder Flora Growth (NASDAQ: FLGC) has steadily built an aggressive international expansion of its Colombia-based cultivation operation during the past year and a half, launching exports to countries such as Mexico and Spain and opening doors to the United Kingdom and the United States.

Flora Growth, which is headquartered in Ontario, Canada, and is establishing offices in the United States, also anticipates end user markets in Australia, various countries in Latin America, as well as in Europe and Asia.

Flora Growth has recently named a former financial executive at Amazon, Boeing, BP, and RPK Capital, as the new chief financial officer, tasked with overseeing financial governance and effective cash position strategy as Flora moves towards quarterly financial reporting and solidifies its global growth.

The company stated that Elshad Garayev will initially serve as vice president of finance while working with the outgoing CFO, Lee Leiderman, through a transition period culminating with Flora’s filing of its mid-year financial results with the Securities and Exchange Commission. Once that filing is completed, Garayev will take over as CFO on the following business day and Leiderman will move into an advisory role to help ensure a smooth continuation of operations, according to the July 11 announcement (https://cnw.fm/fYszZ).

“Mr. Garayev is a deeply talented and experienced individual, and I am thrilled to welcome him to the Flora team at this exciting time in the company’s evolution,” Chairman and CEO Luis Merchan stated in the announcement. “As Flora seeks to establish itself as a global leader in cannabis, adding someone of his caliber will further strengthen our position.”

In addition, the company appointed JPMorgan Chase alum Brandon Konigsberg to their board of directors, and as a member of the audit and comp committees.

“The addition of Mr. Konigsberg to our Board is further testament to our ongoing commitment to fiscal discipline and sound governance. He brings with him exceptional experience in the fields of finance and operations and will assist in helping our organization achieve rapid financial growth and maximize our shareholder value,” said Luis Merchan, Flora’s Chairman and CEO (https://cnw.fm/BUsBl). “We are pleased to welcome Mr. Konigsberg as a valued member of our team and look forward to his contributions.”

This year, the company has acquired 100 percent equity interests in Just Brands LLC and High Roller Private Label LLC as it has advanced its strategic position. The acquisitions brought the JustCBD brand into Flora’s stable (https://cnw.fm/hBjsX), which is expected to in turn help the company expand its operational footprint in Europe and the United Kingdom through JustCBD’s 79 products authorized by the UK’s novel foods standards agency (https://cnw.fm/Gn4Ps).

The company’s announcement states its JustCBD gummies and tinctures will begin selling on Amazon’s UK web portal this summer.

Flora’s outdoor cannabis cultivation facilities in central Colombia grant it prime positioning for product growth in a fertile zone that is accessible to an experienced grower labor force. The company uses natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands, and life sciences divisions, which together form a design-led collective of plant-based wellness and lifestyle brands.

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

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 — White House Noncommittal Regarding Implementation of Biden’s Marijuana Campaign Promises

President Joseph Biden has stood by most of the infrastructure promises he made during his campaign in 2020, passing a massive infrastructure bill a few months after he took office that would invest billions of dollars into building American infrastructure. However, infrastructure wasn’t the only thing Biden talked about during his campaigns. The president also ran his campaign platform on cannabis reform, stating that although he wasn’t a fan of full legalization, he supported medical cannabis and the rights of states to determine their own cannabis laws.

However, nearly two years after Biden assumed office, his administration still hasn’t acted on the bulk of cannabis promises he made during his campaign. Over the past year, stakeholders in the cannabis industry, lawmakers and reform activists have grown increasingly irritated at the administration’s inaction, with a group of senators recently calling on Biden to issue a blanket pardon for people with low-level cannabis offenses.

During a recent briefing, White House Press Secretary Karine Jean-Pierre said that even though Biden has expressed support for modest cannabis reform, his administration does not have “anything to announce” regarding whether the president will fulfill his campaign marijuana promises. The press secretary was responding to a remark about a statement from Pennsylvania Lt. Gov. John Fetterman, who called on Biden to fulfill his promise to decriminalize cannabis.

A representative from the lieutenant governor had said that Fetterman looks forward to discussing the need for marijuana decriminalization with Biden at the upcoming Labor Day Parade in Pittsburgh. Although the press secretary didn’t respond directly to Fetterman’s comment about the need to decriminalize cannabis at the federal level, she said that the president is committed to issuing “evidence-based policies” and is focused on dealing with the “addiction and overdose epidemic.”

She mentioned that he still believes people should not be jailed for nonviolent cannabis offenses, pointing out the clemency actions he took in April when he commuted the sentences of 75 people, some of whom had nonviolent cannabis convictions on their records. Jean-Pierre added that she didn’t have a specific update to share on Biden’s plans to issue mass pardons for people with cannabis convictions or pass federal cannabis reform.

The press secretary noted that Biden still supported allowing states to determine their own recreational cannabis policies, rescheduling marijuana as a Schedule II drug to facilitate research into its risks and benefits, decriminalization at the federal level and automatically expunging nonviolent cannabis offenses.

If the Biden administration would enact even modest reforms at the federal level, such as decriminalizing medical marijuana, many believe that many opportunities would open up for cannabis industry companies, including ancillary ones such as Advanced Container Technologies Inc. (OTC: ACTX)  given that most states have legalized cannabis in some form.

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.

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420 with CNW — New Survey Reports More Americans Using Cannabis Instead of Tobacco

New data from a Gallup survey shows that more Americans now smoke marijuana or consume marijuana-infused edibles than smoke cigarettes. This is despite the fact that the possession of cannabis is still prohibited federally and is even punishable by jail time in a number of states while the use of tobacco is legal.

We have seen trends in the use of tobacco and marijuana move in this direction over the last decade, as more states legalized the recreational and/or medical use of cannabis.

Gallup carried out the survey last month, finding that about 16% of individuals in America smoked marijuana. This is higher than the number of individuals who revealed that they’d smoked a cigarette in the last week, which stood at 11%.

For the first time, Gallup also asked participants whether they consumed marijuana edibles, finding that about 14% did. This means that more individuals eat or smoke federally illegal marijuana than those who smoke legal cigarettes.

The figures reported are also higher than the 2013 data on cannabis use, which stood at 7%. During that year, the use of cigarettes was 20%, which is higher than these latest figures but lower than the 45% recorded in the 1950s.

Despite increase in the use of marijuana, alcohol is still the most commonly used recreational substance in America. Some 45% of the survey’s respondents revealed that they had had alcohol in the last week, with 67% admitting that they occasionally used alcohol.

The survey also found that most Americans believed that cannabis had a positive impact on consumers and society at large, in comparison to alcohol.

These results are consistent with findings from a separate poll released earlier in the year, which found that a notable number of Americans thought that it would be good if more individuals drank less alcohol and instead switched to marijuana.

These results differ from a previous survey conducted in 2020, which indicated that more than 85% of Americans viewed alcohol as morally acceptable in comparison to the 70% who had the same view about cannabis consumption.

It is expected that the consumption of marijuana will continue to rise as the years go by, based on the trends observed in its usage as well as the fact that individuals generally perceive the use of marijuana is less harmful.

Growing public support to put an end to prohibition and the spread of the legalization movement across states in the country will also work in the trend’s favor.

The increasing number of people consuming marijuana products explains why so many companies, including American Cannabis Partners, are finding success in the markets in which they 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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Subsidiary Announces Acquisition of Emerging Hemp Flower Market Brand

Flora Growth (NASDAQ: FLGC), an all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, announced that its wholly owned subsidiary, Just Brands LLC, has acquired substantially all of the assets related to the No Cap Hemp Co. brand. The company anticipates that the acquisition of this emerging brand in the hemp flower market will diversify its brand portfolio and product offerings as well as create an opportunity to expand Flora’s distribution foothold in the United States by providing a unique collection of products with strong revenue growth potential. According to the announcement, the acquisition will offer Flora an immediate revenue stream as well as enhanced manufacturing capabilities. The asset acquisition calls for Flora to pay 10% of the gross revenue received from the sale of No Cap products up to a maximum of $2 million. “This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business,” said Flora Growth CEO and chair Luis Merchan in the press release. “This strategic acquisition demonstrates our disciplined capital allocation approach that is consistent with both short-term needs and long-term vision as a leading global cannabis company. We look forward to increasing our product offering through this transaction while broadening our sales team in the process.”

To view the full press release, visit https://cnw.fm/mdwv2

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 extensive 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. For more information about the company, please visit www.FloraGrowth.ca.

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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