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 – AmeriCann Inc. (ACAN) Achieves Record Quarterly and Monthly Revenues

AmeriCann (OTCQB: ACAN), a cannabis company that develops state-of-the-art cultivation, product manufacturing and distribution facilities, today provided financial and operational updates for its Massachusetts cannabis cultivation, product manufacturing and distribution campus. According to the announcement, the company achieved a significant increase in year-over-year quarterly revenue, reflecting growth of over 36% for the quarter ended June 2022 relative to the quarter ended June 2021, an increase of $213,902. In addition, monthly revenue for June 2022 increased 30% from June 2021. “We’re pleased with achieving record revenue for the quarter and with the strong top-line growth rate,” said AmeriCann President Tim Keogh. “Our operating margins are very strong, and we look forward to reporting our full quarterly financial results in August of 2022.”

To view the full press release, visit https://cnw.fm/V1azq

About AmeriCann Inc.

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

About CannabisNewsWire

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

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

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Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH(TM) Technology Enhances Bioavailability of Orally Administered APIs

  • Lexaria is a global innovator in drug delivery platforms
  • The company has developed the patented DehydraTECH(TM) technology that significantly improves the bioavailability of orally administered pharmaceuticals and therapeutics
  • Bioavailability is the fraction of a drug that reaches the site of action or systemic circulation
  • While drugs delivered intravenously are 100% bioavailable, drugs that have any other route of administration, such as oral, have reduced bioavailability
  • DehydraTECH enhances the bioavailability of APIs, in part, by bypassing first-pass liver processing

Global innovator Lexaria Bioscience (NASDAQ: LEXX) has built a reputation as a developer of drug delivery platforms, the most notable of which is the patented DehydraTECH(TM) technology. DehydraTECH is a formulation and dehydration processing method that modifies how the body detects and absorbs drugs, solving a glaring problem that has long affected orally administered drugs: low bioavailability. 

Bioavailability indicates the fraction or rate of the initial dose of a drug that is successfully made available to the site of action or systemic circulation (blood supply to all body tissues) from where target organs can readily access. “Intravenous dosing is considered 100% bioavailable since the drug is administered directly to the bloodstream, also termed the central compartment or systemic circulation. However, if a drug has some different route of administration, oral being most commonly employed, its bioavailability may be limited,” explains an article by the North East Biolab (https://cnw.fm/lPwPp). “For oral doses, bioavailability limitations are typically due to the first-pass metabolism produced by the liver as well as incomplete absorption in the gut.”

DehydraTECH solves the low bioavailability problem through a sophisticated API-delivery mechanism. According to Lexaria, DehydraTECH “works symbiotically with existing physiology systems to enable improved and more rapid absorption into the bloodstream and brain tissues.” 

The technology, which combines fat-soluble active pharmaceutical ingredients (“APIs”) with long-chain fatty acids, ensures the orally administered DehydraTECH-enabled API enters the upper intestine only minutes after administration. Next, the API is “delivered into the lymphatic lacteals primarily and transported across the upper intestinal wall – instead of going into the hepatic vein destined for the liver.” This way, the APIs bypass first-pass liver processing.

In addition to increasing bioavailability, DehydraTECH offers additional benefits. Lexaria’s subjective and objective testing and pharmacokinetic studies conducted since 2015, for instance, show that DehydraTECH delivers higher quantities of APIs in less time – it is faster and more effective at delivering drugs into the bloodstream and brain tissue. More specifically, the technology increases bioavailability, improves the speed of onset, enhances brain absorption, and increases the ratio of drug delivery, which is expected to reduce drug administration costs by lowering the dosing. Furthermore, DehydraTECH masks unwanted taste, effectively dealing with the bitter, unpleasant taste of medicine and APIs that makes them aversive to children and even adults (https://cnw.fm/Dkkd6).

DehydraTECH, which is applied to various ingestible product formats, including mouth melts, oral suspensions, capsules, tablets, and others, has multiple opportunities for success in different APIs. To that end, Lexaria is actively developing lead product pipeline candidates in the areas of antiviral drugs, cannabidiol (“CBD”) for hypertension, and oral nicotine. 

The company also partners with third-party companies looking to explore formulation opportunities with their specific APIs of interest. Anchored in exclusive or non-exclusive licensing agreements, these partnerships boost Lexaria’s commercial prospects, given it grants the out-licenses in exchange for up-front fees, milestone payments, and/or royalty payments. But as CEO Chris Bunka emphasized in a January 2022 letter to shareholders (https://cnw.fm/JdaMv), these current revenue streams, while important, are not the company’s main area of business focus. Rather, Lexaria is focused on “larger national and international applications for DehydraTECH, primarily but not entirely in the pharmaceutical sector.”

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 — How Marijuana Retailers Preserve the Quality of Concentrates During Storage

Learning proper storage techniques is crucial for cannabis businesses, especially those looking to succeed in the highly competitive and cutthroat cannabis concentrates segment. Storing cannabis flower isn’t difficult, but improper storage can steadily degrade the cannabis and even lead to the growth of mold. Concentrates, on the other hand, require high-quality storage techniques because they are more sensitive to degradation compared to flower and edibles.

Marijuana concentrates will begin to degrade quickly when exposed to the elements. This means that storing cannabis concentrates products poorly for even a couple of hours could severely degrade them and cause them to change color to black or brown as well as lose their potency and taste. Given the razor-thin profit margins in the concentrates segment, improper storage could have a significant impact on your bottom line.

Duke Barclay, the owner of The Fireplace, a cannabis store in Arcata, California, says that he keeps every concentrate that passes through his hands in a freezer. Once the products are moved onto the sales floor, they are perpetually stored in a small refrigerator. He says that until you plan on either selling or smoking any cannabis concentrate, storing it in a freezer would be best.

In cases where concentrates have lost potency due to improper storage or expiration, Barclay says that retailers are often faced with the choice of either selling the product at a lower cost or reaching out to their supplier for a refund. For instance, multistate cannabis cultivator and concentrate producer 710 Labs was forced to sell products at a 40% discount in the past after a freezer malfunction changed rosin consistency.

According to 710 sales manager Brennan Burke-Martin, retailers who choose not to invest in cold storage may end up sustaining losses down the line due to degraded concentrates. If his company had to sell at a reduced cost even with the necessary cold storage available, companies that don’t buy freezers or refrigerators to store their concentrates are even more likely to sustain losses.

Cold-storing concentrates by type based on how they are extracted is an efficient way to go. Solventless concentrates should be stored at less than -10 degrees in a freezer. 710 Labs recommends storing live rosin, persy rosin and water hash in a freezer under less than -10 degrees. Persy rosin sauce can be stored in a refrigerator or an air-conditioned room that doesn’t exceed 68 degrees.

Burke-Martin recommends that cannabis concentrates made through butane hash oil extraction such as shatter, badder and crumble, should be stored in an air-conditioned room at no more than 68 degrees. However, retailers should ensure they refrigerate or freeze live resin before it is sold.

It is prudent for retailers to know how best to store every kind of marijuana product from different companies such as Cannabis Strategic Ventures, Inc. (OTC: NUGS) because a storage method that is adequate for one product type may be woefully inadequate for another type of product.

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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420 with CNW — Germany Primarily Focuses on Safety in Cannabis Legalization Plans

Like many territories across the world, Germany is on the way to legalizing the use of recreational cannabis for adults. Although the substance has provided American states with billions of dollars in taxes and can be extremely profitable for Germany, the European country is planning on taking a “safety first” approach that prioritizes public health and safety.

German Health Minister Karl Lauterbach recently revealed that the government is set on legalizing recreational cannabis and already has a draft law that is expected to be ready by the end of 2022. He stated that the legislation has been long awaited and that the government will use the safety-first principle in its efforts to legalize adult-use marijuana in the country.

Lauterbach acknowledged that the current prohibitionist and repressive ways of dealing with the controversial plant have not been successful. This was a major change in opinion as the health minister has not been a fan of cannabis legalization in the past, stating that there were potential health risks involved.

Even though he has since reversed his stance on recreational cannabis reform, Lauterbach urged lawmakers to exercise careful consideration on key provisions of the draft law regarding safety. This includes protecting minors from cannabis marketing, advertising and access as well as provisions on tax and tax law and the criminal code. He especially stressed protection for minors, stating that while cannabis can have mild effects on adults, it is dangerous for children and can destroy their lives.

The country’s current three-party coalition government is solidly behind legalizing the adult use of cannabis. The coalition of the Green Party, Social Democrats (SPD) and Free Democrats (FDP) announced that it was considering legalizing recreational marijuana even before it took over.

For years, the Green Party and FDP urged the government to launch a legal and controlled market for cannabis with a focus on tight regulation and protecting minors. Now in power, the coalition is moving forward with its plans to legalize recreational marijuana. If the draft law is passed, it will be the third European country after the Netherlands and Luxembourg to allow adult-use cannabis.

Despite these comments by the German health minister, there are still plenty of questions about the regulations that will govern the country’s recreational cannabis industry. For instance, there is no information on whether edibles and vapes will be allowed now or in the future. The government has also failed to provide any information on cannabis taxes or regulatory restrictions, or whether Germans would be allowed to produce cannabis locally or look oversees for suppliers such as Flora Growth Corp. (NASDAQ: FLGC).

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.

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

For more information please visit https://www.CNW420.com

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) GrowPods Have Potential to Impact Global Food Shortages

Advanced Container Technologies (OTC: ACTX), the exclusive U.S. distributor of self-contained, automated, indoor “micro-farms” announced that micro-farms, called GrowPods, has potential to help reduce global food shortages. According to the company, GrowPods provide a way for food production to take place virtually anywhere in the world, offering a way to enhance food security. The company noted that the war in Ukraine has disrupted global food supplies because the country is one of the world’s leading exporters of several agricultural products; the conflict has been tied to rising prices and import obstacles. The announcement noted that United Nations Secretary-General António Guterres warned that the war, along with other global crises, could “lead to mass hunger and famine because of the impact on food production and prices around the world” with tens of millions of people face food insecurity and malnutrition. He noted that the war in Ukraine, along with other global crises, threatens tens of millions of people with food insecurity, malnutrition, mass hunger and famine, resulting in governments and community groups are searching for alternative food solutions. ACTX’s GrowPods can be placed placed anywhere and can grow the equivalent of three acres of traditional farmland — all in an automated environment and without pesticides, harmful chemicals or risk of contamination. “Our modular hydroponic farms can provide healthy food where it is needed, and require minimal labor so that farming can be managed by just a few people with some basic training,” said Advanced Container Technologies CEO Doug Heldoorn in the press release. “Additionally, a GrowPod can be set up in a matter of just days, so that food shortages can be reduced in just weeks, instead of months or years.”

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

About Advanced Container Technologies Inc.

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

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

About CannabisNewsWire

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

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

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Names Former Amazon, Boeing Exec as CFO

Flora Growth’s (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, has announced a new chief financial officer. Former Amazon and Boeing official Elshad Garayev has accepted the new position and will be joining the FLTC team on the business day following the date on which the company files its mid-year financial results with the Securities and Exchange Commission. Garayev has more than two decades of financial leadership experience, and has worked at Amazon, Boeing, BP and RPK Capital. In his new role, he will focus on FLGTC growth initiatives as well as financial discipline and reporting. According to the announcement, Garayev is currently serving as vice president of finance and is working closely with Flora Growth’s current CFO Lee Leiderman, who is moving to an advisory role to enable him to spend more time with his family and focus on his health. Garayev has a proven track record in assisting organizations with the development and implementation of accounting and reporting policies as well as building high-performance finance teams. “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. As Flora seeks to establish itself as a global leader in cannabis, adding someone of his caliber will further strengthen our position,” said Flora Growth Corp.’s chair and CEO Luis Merchan in the press release. “On behalf of both our executive leadership team and our Board of Directors, I want to personally thank Mr. Leiderman for his commitment and service to Flora through an incredible growth phase for the company. He has played an important role in setting the foundation for our future success and we look forward to continuing to work with him in his new capacity.”

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

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to 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.

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

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Flora Growth Corp.’s (NASDAQ: FLGC) Shareholders Vote in Favor of All Proposals Submitted for Approval; Elect Brandon Konigsberg to Board of Directors

  • Shareholders approve all proposals submitted at this year’s annual shareholders’ meeting, including board members
  • Among the seven members of the Board of Directors elected, six were incumbents, making Brandon Konigsberg the newest addition to the Board
  • Mr. Konigsberg will lend his years of experience, having held key leadership positions in various organizations in the country
  • Luis Merchan, Flora Growth’s Chairman and CEO, noted that Mr. Konigsberg’s appointment would help the organization achieve rapid financial growth and maximize shareholder value

Annual shareholders’ meetings are usually landmark moments of shareholder democracy, offering shareholders an opportunity to participate in the company’s decisions and offer their input on resolutions brought forth by other shareholders, the Board of Directors, and company management. 

On July 5, 2022, Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer, and distributor of global cannabis products and brands, held its annual shareholders’ meeting. On the agenda were four proposals for discussion:

  1. The re-appointment of Davidson & Company LLP as the company’s auditors
  2. The election of seven members of the company’s Board of Directors
  3. The approval of the company’s 2022 Incentive Compensation Plan
  4. The approval of new bylaw 1-A

Attendees voted to approve all four of the tabled proposals, details of which can be found on Flora’s Form 6-K, filed with the Securities Exchange Commission on July 6, 2022 (https://cnw.fm/Qcn3E).

The selection of a seven-member Board of Directors saw the re-election of six incumbent directors and the addition of Brandon Konigsberg. Mr. Konigsberg will serve as Chair of the Audit Committee and as a member of the Compensation Committee, in addition to executing his duties as a Board member (https://cnw.fm/kho7F).

Mr. Konigsberg will lend his years of experience in the industry, having served as an executive of JP Morgan Chase (“JPMC”) for 24 years, and held various leadership roles in different critical organizations in the country. He is currently the President and Chief Financial Officer (“CFO”) of Fynn, an education financing company, a position he has held since 2021. In addition, he holds various board director, chair, and audit committee memberships, including Chicago Atlantic Real Estate Finance, Inc., a specialty mortgage Real Estate Investment Trust (“REIT”) that lends to cannabis companies.

While confirming his appointment, Mr. Konigsberg noted “I am excited to be joining Flora’s Board of Directors and look forward to assisting the management team as the Company continues to make progress on its strategic financial plans. As an executive and entrepreneur operating for many years in finance and treasury, I look forward to taking on challenges and opportunities that lie ahead of our Board and the Flora organization.”

“The addition of Mr. Konigsberg to our Board is further testament to our ongoing commitment to fiscal discipline and sound governance,” noted Luis Merchan, Flora’s Chairman and Chief Executive Officer (“CEO”). “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. We are pleased to welcome Mr. Konigsberg as a valued member of our team and look forward to his contributions,” he added.

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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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Federal Agency Funds Project to Develop 3D-Printed, Hemp-Based Building Material

Long before prohibitionist policies outlawed the cultivation, processing and sale of hemp, the plant had a wide range of functional uses, including being one of the most common fabric materials on the globe. Now that territories around the world are loosening their policies and launching hemp programs, more companies are hoping to take advantage of hemp’s many uses. One of the most interesting hemp applications has been using it as a building material called hempcrete.

Hempcrete is developed by mixing hemp turd with water and lime. The material only weighs a fraction of regular concrete, has a low carbon footprint as well as great moisture handling and resistance properties, and is fire resistant. A federal agency has now kickstarted a pilot project that would see researchers develop hempcrete using 3D-printing technology in an effort to create affordable housing.

The Department of Energy has provided Texas A&M University with $3.47 million in funding via its Advanced Research Projects Agency-Energy (ARPA-E) Harnessing Emissions into Structures Taking Inputs from the Atmosphere (HESTIA) program. The engineering department from A&M notes that hempcrete is a lightweight and durable alternative to conventional building materials.

The department also mentioned hempcrete’s relatively low carbon footprint. Lead researcher and assistant professor P. Sideris said that the hemp-based building material is a net carbon-negative material unlike regular building materials such as concrete whose production consumes a lot of energy and emits significant carbon dioxide into the atmosphere. The Global Concrete & Cement Association estimates that each ton of cement emits around half a ton of carbon dioxide.

Furthermore, the World Steel Association estimates that producing a ton of steel results in 1.85 tons of carbon emissions, with steel production being responsible for a whopping 8% of CO2 emissions.

Sideris states that hempcrete has excellent thermal insulating and fire-resistance properties that could allow homeowners to reduce their heating and energy costs. This federally funded research will help the United States maintain its global position as a developer of advanced construction techniques, infrastructure sustainability and resilient technologies, he said.

An assistant professor in the Zachry Department of Civil & Environmental Engineering, Sideris will lead the research team in developing potential designs for commercial and residential properties. His team is rounded out by Zachary Grasley, a head of department and professor, assistant professor Maria Koliou, associate professor Manish Dixit, and Texas A&M College of Architecture professor Wei Yan.

The Department of Energy has also sponsored a separate project on the development of hemp fiber insulation.

As more of these studies receive federal funding, the proliferation of cannabis and other crop-cultivation technologies, such as the micro gardens pioneered by Advanced Container Technologies Inc. (OTC: ACTX), is likely to increase as more uses of various cannabis species are found.

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 — Governor Newsom Signs Bill Easing California’s Cannabis Taxes

More than five years after California legalized recreational cannabis, the state’s illicit cannabis market still makes up a majority of recreational cannabis sales. For example, in 2019, illicit cannabis sales reached around $8.7 billion while the legal market sold $3.1 billion worth of cannabis.

Governor Gavin Newsom has now signed a bill that would restructure California’s recreational cannabis program in an effort to combat illegal sales. Bill AB 195 will get rid of the marijuana cultivation tax and require that the excise tax not increase for the next three years, reducing the financial load on cannabis producers and theoretically allowing them to sell their products at lower price points.

The main reason California has been unable to curtail illegal cannabis sales is the high cost of legal recreational cannabis. The state levies a variety of taxes on cannabis along the entire supply chain, resulting in legal cannabis costing up to two to three more times than illicit cannabis. As a result, most cannabis consumers, especially those on a tight budget, choose to buy from the illicit market.

The cannabis tax provisions in the new bill have the potential to reduce operational costs in the legal recreational market, which could then translate into lower product prices. The new bill will also increase enforcement efforts against unlicensed cannabis operators. It grants county governments the power to take civil action against such operators for issues such as water diversion and pollution. Additionally, it will also levy civil penalties of up to $10,000 daily for property managers who knowingly lease or rent out a property to unlicensed businesses that produce, store or sell marijuana.

Businesses that qualify for social equity will be eligible for a tax credit of $10,000 and will be allowed to use 20% of their excise tax revenue for reinvestment purposes. The legislation also provides tax credits worth $40 million, with one-half going to eligible microbusinesses and retailers and one-half going to equity operators.

The bill also provides an additional $670 million in cannabis tax to programs dedicated to youth substance misuse treatment, education, school retention, law enforcement and illicit marijuana-related clean-ups and remediation.

Bill AB 195 will also provide $20 million for a one-time grant program request by Governor Newsom. The program will be crucial to fixing another issue plaguing the state’s cannabis industry, efforts by local cities and counties to block cannabis sales in their communities.

Nicole Elliot, director of the Department of Cannabis Control (DCC), said that the law will bring some tax relief to the sector and support the development of an equitable, safe and sustainable cannabis industry.  

It remains to be seen how big an impact these tax changes will have on the bottom line of licensed entities such as American Cannabis Partners that are operating within the borders of California.

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

About CNW420

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

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420 with CNW — New York Names Officer to Oversee Cannabis Diversity Measures

More than a year after New York legalized recreational marijuana, becoming the 15th state to allow adult-use cannabis, efforts are underway to prepare for the launch of legal recreational sales later this year. Officials have announced the appointment of Damian Fagon as the chief equity officer at the Office of Cannabis Management (OCM).

The OCM was created by the Marijuana Regulation and Taxation Act in 2021 and is tasked with overseeing the licensing, cultivation, production, distribution, sale and taxation of cannabinoid hemp, recreational cannabis and medical marijuana in New York State.

Fagon is a third-generation farmer with an extensive background in agriculture and international development with an enviable resume. He has headed several development initiatives with Guatemalan coffee exporters, rice growers in Sierre Leone and Jamaican castor farmers.

Cannabis Control Board Chair Tremaine Wright says that Fagon’s extensive knowledge of the agriculture industry, his experience as a leader in New York’s Black farming community and his support of various farming communities across the world makes him uniquely positioned to head New York’s cannabis equity program.

Back in 2017, Fagon played a major leadership role in launching several commercial marijuana operations in the Caribbean, South Carolina and New York. As the chief equity officer, he will now be charged with overseeing economic and social equity initiatives created by the Cannabis Control Board and the Office of Cannabis Management.

According to New York’s marijuana laws, 50% of recreational cannabis licenses have to go to equity applicants with a specific focus on applicants living in communities that were disproportionately affected by the drug war. Distressed farmers and businesses owned by veterans, women and minorities also qualify as social equity applicants.

Part of Fagon’s job as chief equity officer will be ensuring that 50% of adult-use cannabis licenses go to qualified and deserving social equity applicants.

The decades-long drug war has long been considered a failure for increasing racial persecution in America and treating addiction as a criminal rather than a public health issue. Millions of people have been shackled with cannabis-related offenses, and harsh sentencing, especially for people of color, has done immense damage to Black communities around the country. Social equity programs that are specifically centered around cannabis are meant to reinvest in these communities and alleviate some of the societal harms caused by the war on drugs.

Several states with legal cannabis programs, including California, Massachusetts, New Jersey and Illinois, have incorporated social equity programs into their cannabis laws. As such equity programs get underway in different states that have legalized marijuana, cannabis companies such as Flora Growth Corp. (NASDAQ: FLGC) are set to play an even bigger indirect role in the communities in which they operate.

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.

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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