Author: CannabisNewsWire (CNW)

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

420 with CNW — How Patients Can Access Free Medical Cannabis in California

By the start of 2022, more than 30 states had legalized medical marijuana. Research has found that cannabis can be quite effective at alleviating medical conditions such as chronic pain, insomnia and post-traumatic stress disorder (PTSD). However, medical marijuana isn’t always cheap; according to Americans for Safe Access executive director Debbie Churgai, the number-one barrier to medical cannabis access is affordability.

Furthermore, federal prohibition means that insurance providers do not provide coverage for medical cannabis even if it is prescribed by a doctor. This often leaves those who need medical marijuana the most with no affordable way to access it.

In the state of California, however, in-need patients have been receiving free medical cannabis thanks to a partnership between marijuana delivery service Eaze, nonprofit groups and cannabis brands. The Eaze Compassion program has been offering free products to in-need medical cannabis patients since late 2019 and has handed out more than 100,000 THC-infused products in that period.

The program currently makes free home deliveries to patients living in San Jose, the Bay Area, Sacramento and the Greater Los Angeles area. Charlene Modeste, an LA native who lives with uterine fibroids, has been receiving thousands of dollars’ worth of cannabis products for free every few months from Eaze.

She learned about the Eaze Compassion program after contacting Dear Cannabis, a Sacramento-based organization that acts as a middleman between product-donating cannabis companies and compassion programs. Dear Cannabis connected Modeste to one of Eaze Compassion’s partners, an L.A-based nonprofit called This is Jane Project, which verified that she was eligible for the program and sanctioned the free deliveries.

Eaze also works with the Weed for Warriors Project, Operation EVAC (Educating Veterans About Cannabis), Bay Area Americans for Safe Access and other groups to facilitate compassionate deliveries to in-need patients. Eligibility for the program is determined through criteria such as medical diagnosis, need and income.

The cofounder and chief executive of veteran support group Weed for Warriors Project says access to affordable medical cannabis can save lives. Veterans who were overdrinking drank less when marijuana was available, he says, and there has been a noticeable reduction in overdoses, domestic violence and suicides since cannabis was made available to the veteran community.

Weed delivery company Eaze handles the deliveries while its partner organizations evaluate prospective patients. Medical cannabis patients who live within the delivery areas and would like to join the Eaze Compassionate program can reach out to any of the partner organizations and compassionate programs listed here.

Such programs to help patients in need show how diverse the benefits of allowing companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) to operate can be.

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.

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

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

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420 with CNW — U.S. Mayors Pass Measure Urging Congress to End Cannabis Prohibition

Earlier this week, the U.S. Conference of Mayors approved a resolution that would protect banks which work with state-legal cannabis businesses from federal penalties. This organization representing mayors passed the measure during its 90th annual meeting. In 2021, the body adopted a different resolution that promoted social equity in the growing marijuana industry and called for an end to federal marijuana prohibition.

This latest measure expresses support for federal measures to legalize marijuana, including the Cannabis Administration and Opportunity Act, which is being finalized in the Senate, and the Marijuana Opportunity, Reinvestment and Expungement Act (MORE Act), which was approved by the House.

This comes as Congress debates about whether to include the SAFE Banking Act as part of the America COMPETES Act, which is currently in negotiations in bicameral conference.

The mayors’ proposal states that the illegality of marijuana under federal law and the conflict it creates between federal law and state law has created significant barriers and challenges for legally operated and owned medical and recreational marijuana dispensaries and marijuana-related firms.

It also explains that marijuana firms aren’t able to access banking services that insurers and financial institutions provide to other businesses due to the possible civil and severe criminal penalties that these institutions may incur. This, it adds, has forced most companies to operate on a cash-only basis leading to an increase in targeted crime.

To resolve this, the mayors urge Congress to approve the SAFE Banking Act to not only enhance public safety but also offer financial security for marijuana dispensaries and related companies. Mayors of Henderson, Nevada; Fort Lauderdale, Florida; and Tacoma, Washington, sponsored the measure for the conference. This organization represents 1,400 cities in America, with populations of more than 30,000 individuals each.

Many hope that the SAFE Banking Act will be attached to the large-scale manufacturing bill in the interest of public safety and economic competitiveness. This measure, which has been approved in the House six times, is yet to be approved in the Senate.

Senate leadership is currently working to finalize a measure that would put an end to the federal prohibition of cannabis, and you can be sure that the entire cannabis industry, including companies such as Flora Growth Corp. (NASDAQ: FLGC) will be following all those federal legalization efforts.

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 Address Food Security Issues

Advanced Container Technologies (OTC: ACTX), the exclusive U.S. distributor of self-contained, automated, indoor “micro-farms” called GrowPods, along with related equipment and supplies, provide an effective way for food to be produced locally, almost anywhere in the world, thus enhancing food security. According to the announcement, the pandemic and disruptions to the food supply chain have heavily effected food supply around the world, with growing numbers of communities experiencing empty shelves. Consequently, governments and community groups are searching for ways to increase food supplies. Modular hydroponic farms, such as ACTX’s GrowPods, are a viable option. The company noted that its GrowPods can be used virtually anywhere and can produce the equivalent of three acres of traditional farmland in an automated environment, which can be monitored and controlled remotely. “These modular hydroponic farms can provide healthy food where it is needed, and offer sustainability benefits such as cutting freight emissions and shipping costs associated with transporting food long distances, reducing water consumption, and eliminating clear-cutting of forest lands for farmland usage,” said Advanced Container Technologies CEO Doug Heldoorn in the press release. “Additionally, a GrowPod can be set up in a matter of 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/SB0kL

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)

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) and the Budding Alternative Nicotine Market

  • The nicotine pouch market is projected to reach $21.84 billion in 2027, up from $2.33 billion in 2020, representing a CAGR of 30.7%
  • The smokeless tobacco products sector is expected to post a CAGR of 7.2% over the forecast period (2018-2025)
  • Lexaria, through its patented DehydraTECH technology, is tapping into this important alternative nicotine sector 
  • Its management is confident that its research and technology development investment will pay off and provide greater consumer satisfaction.

In 2019, it was estimated that at least 1.1 billion people globally smoked cigarettes regularly. 780 million, representing 71% of the global smoking population, noted that they wanted to quit. Their resolve to quit smoking has seen a significant decline in cigarette sales and a steady rise in nicotine alternatives, which experts project will carry on for the foreseeable future (https://cnw.fm/UyBtW). 

For one, the nicotine pouch market has grown significantly and is estimated to reach $21.84 billion in 2027, up from $2.33 billion in 2020, representing a CAGR of 30.7%. The nicotine replacement therapy (“NRT”) market size, on the other hand, is projected to reach $147.9 billion by 2028, representing a CAGR of 16.3% over the 2021 to 2028 forecast period (https://cnw.fm/YyNlg). 

Lexaria Bioscience (NASDAQ: LEXX) acknowledges the transference from smoking cigarettes to nicotine alternatives. Through its patented DehydraTECH technology, it looks to tap into this 853 billion dollar industry and stamp its position as the undisputed industry leader.

Since Lexaria began the development of DehydraTECH back in 2014, it has seen its application in various areas, including but not limited to antivirals, cannabinoids, vitamins, and non-steroidal anti-inflammatory drugs (“NSAIDs”). However, nicotine is showing great promise, with Lexaria exploring the oral mucosal nicotine market that is an integral part of the smokeless tobacco products sector which is expected to grow at a CAGR of 7.2% from 2018 to 2025 (https://cnw.fm/Yrt30). 

In a move that sought to prove DehydraTECH’s superiority, Lexaria conducted an oral nicotine absorption study in 2021. The research showed that Lexaria’s nicotine delivered via an oral pouch product dispensed enough nicotine levels in blood plasma in four minutes, as concentration-matched controls did in 45 minutes. In addition, peak levels of DehydraTECH nicotine proved to be approximately ten times higher than the peak level of the controls (https://cnw.fm/GNae9).

Lexaria is looking to build on these findings with the latest human study slated to begin in the summer of 2022. The research will compare Lexaria’s DehydraTECH-nicotine pouch performance to existing leading brands on shelves in the United States. The company is optimistic that this study will help it differentiate itself, its brand, and its product in the market, ultimately growing its market share and creating value for its shareholders.

With key industry players such as Altria Group, British American Tobacco Industries, Philip Morris International, and GlaxoSmithKline PLC embracing a transition to a smoke-free future, Lexaria isn’t being left behind. Instead, it recognizes the existing opportunity and is capitalizing on its DehydraTECH technology to set itself apart from its peers and aggressively push its brand in the market.

Lexaria’s management is confident that its research investment and technology development will pay off significantly with time. But, more importantly, they note that it will provide much greater consumer satisfaction.

“Our technology was ten to twenty times faster in delivering comparable levels of nicotine into bloodstream than the peak of the concentration-matched controls and went on to far exceed their total delivery, which should provide much greater consumer satisfaction,” reckoned Chris Bunka, Lexaria’s Chief Executive Officer (“CEO”).

“Performance gains of this magnitude could be of great significance in enabling the oral pouch product category to offer improved nicotine satiety and effectiveness, with a goal of one day rendering pulmonary administration practices like smoking and vaping as obsolete,” he added.

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

Do you have questions or are you interested in working with CNW? Ask our Editor

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Strategies to Consider When Growing Marijuana in Different Markets

Companies that grow marijuana in a number of states need to use various strategies, depending on several variables in order to effectively compete in this burgeoning industry. Those variables include the climate, what consumers are willing to pay for a product and the maturity of the market in the state,

Experts believe that for companies and their cultivators to maximize profits while preserving the integrity of the plants they grow, they need to align with the trajectory of the market they are involved in.

So what should growers take into consideration when growing cannabis in more than one state?

Mature markets vs. new markets

In the United States, the state of California has one of the most mature cannabis markets, with a competitive scene where cultivators sell the best-quality marijuana. The climate in this California, which involves little rainfall and a lot of daylight, enables growers to produce large plants, which explains why the focus is mainly on the sale of buds.

In comparison, cannabis sales in the state of Massachusetts for recreational purposes is relatively new. The state has a humid and rainy climate, which is why most marijuana is cultivated indoors. Profitable methods to grow cannabis indoors include crop steering, using hydroponics and inert growing mechanisms such as rockwool for ease of use and cleanliness.

Companies involved in new markets may be better off using hydroponic growing techniques to simplify the cultivation process. New markets have less competition, so the focus is mostly on producing a lot of different products and extending consumer reach.

In established markets, however,, cultivators should focus on differentiating themselves from other players through organically cultivated cultivars or the development of niches for themselves via the manufacture of unique products.

Market needs

Consumer appetites may differ in different states, especially with outdoor-grown marijuana now competing against greenhouse-grown and indoor-grown flowers. In some states, indoor flowers grown under perfect conditions are considered prime products, which means an increased demand from consumers.

In saturated markets that have established large marijuana companies participating and brands in a number of categories, companies may have to expand their focus to growing strains with more diverse cannabinoid and terpene profiles in order to compete better.

Quantity or quality

Successful cultivation focuses on crop steering, good plant-care techniques, good nutrients and great genetics. Experts recommend that cultivators grow their plants well with desirable genetics to produce quality flower and products and avoid overcomplicating production.

As more technologies such as the micro gardens commercialized by Advanced Container Technologies Inc. (OTC: ACTX) penetrate the market, we may see cannabis production being taken to a whole new level in terms of cannabinoid and terpene profiles.

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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CNW420 is part of the InvestorBrandNetwork.

420 with CNW — California Goes Hard Against Illicit Cannabis Sellers

California’s cannabis industry raked in a whopping $5.2 billion in 2021, making it the largest legal cannabis market in the world. Coincidentally, California is also home to an illicit cannabis market worth a staggering $8 billion. Experts estimate that up to 90% of the cannabis sold in the state falls into a legal gray area.

California officials are having none of it anymore. State tax collectors have been specifically active against black market sellers, intensifying enforcement against unlicensed cannabis enterprises that owe the state millions of dollars in unpaid taxes. For the past couple of months, the California Department of Tax and Fee Administration (CDTFA) has ramped up efforts against underground businesses that have been raking in billions of tax-free dollars every year.

The agency has carried out raids on underground operators and auctioned off hundreds of thousands of dollars’ worth of assets in a bid to collect unpaid taxes. For example, in late March, the CDTFA auctioned off a Whittier property for $310,000; the property belonged to illegal cannabis operators who owed $850,000 in unpaid taxes. Later in May, the agency also auctioned off a Compton property for $50,000 before auctioning a second Compton property a few weeks later for $256,000.

According to the CDTFA, unlicensed operators used the latter property to sell unregistered and illegal cannabis products. Speaking to “MJBizDaily,” CDTFA spokesperson Tamma Adamek said that the agency is enforcing tax laws on illicit cannabis businesses to level the playing field for licensed operators. However, Adamek says that identifying and locating illicit sellers can be a challenge because they operate underground. Even so, the agency has managed to seize at least $32 million in cash and products since 2020.

Although some assumed that a legal and regulated cannabis market would deal a major blow to the illicit black market, illicit operators have continued to rake in billions of dollars from black-market sales. Illegal cannabis growers often use banned pesticides on their products, and they steal hundreds of millions of gallons of public water every year.

California’s tax man has also set his sights on licensed operators who have fallen behind on their tax obligations. CDTFA figures show that licensed and unlicensed operators owe the state $187 million in back taxes. Adamek states that the agency had put a stop to its tax collection activities during the COVID pandemic but it is resuming collection efforts now that the economy is starting to recover.  

As the state cracks the whip against illicit players on the California marijuana scene, licensed companies such as American Cannabis Partners will have a better playing field within which to operate and thrive.

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.

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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CannabisNewsBreaks – Flora Growth Corp.’s (NASDAQ: FLGC) Completion of Key Milestones Position It for Success

Flora Growth Corp. (NASDAQ: FLGC) recently announced financial and operating results for the 2021 fiscal year that show the success of its efforts as revenues and profits begin what is expected to be a rapid climb. “The year-end financial results show about $9 million in revenues, which is ‘significantly higher’ than those reported the prior year before the law change and Flora’s IPO launch on the Nasdaq Capital Market. The report maintains the company’s outlook for ending 2022 with revenues of $35 million to $45 million, which would be growth of between 288% and 400% over 2021. Much of Flora’s momentum is driven by its acquisition of consumer wellness brand JustCBD, which increased Flora’s profile to more than half a million consumers through 14,000 retail stores in the United States,” reads a recent article. “We are proud of the milestones we achieved in 2021, including the completion of key strategic infrastructure projects, the strengthening of our balance sheet and the deployment of our M&A strategy,” CEO and Chairman Luis Merchan stated. “The completion of our cultivation and extraction facilities has positioned Flora for success in this rapidly evolving industry, as we satisfied the requirements for the cultivation, transformation and export of up to 43.6 tons of THC cannabis flower.”

To view the full article, visit https://cnw.fm/xYV8r

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the most 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. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.

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

About CannabisNewsWire

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

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

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

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

Do you have questions or are you interested in working with CNW? Ask our Editor

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420 with CNW — Cannabis Coalition Unveils New Campaign in Support of Banking Reform

Minorities for Medical Marijuana, Minority Cannabis Business Association, Marijuana Matters and Women Grow have banded together to create a campaign to help promote the economic and social equity advantages of allowing businesses involved in the cannabis industry to access financial services. The objective of the campaign, which has been dubbed SAFE4Equity, is to call for the SAFE Banking Act to be approved in Congress.

This banking measure, which is sponsored by Rep. Ed Perlmutter, was enacted as part of the America COMPETES Act, which is currently in negotiations in a bicameral conference committee.

Despite some advocates criticizing those who would like the banking reform to advance before a comprehensive measure is enacted, the cannabis advocacy group coalition believes that the reform’s passage would uniquely benefit small and minority and women-owned businesses because it would offer them resources that allow them to operate safely in this cash-intensive and volatile industry, while also competing effectively.

Marijuana Matters executive director Courtney Davis added that while this banking legislation wouldn’t repair the harms of the war on drugs, it would support people from historically disadvantaged communities and enable them to become successful entrepreneurs in the growing marijuana space.

Minorities for Medical Marijuana CEO Roz McCarthy stated that advocates had been calling for sensible marijuana reform for a long time now, adding that passing this equal and safe banking measure for those involved in the regulated marijuana industry would be a big step in the right direction.

Executive director of the Minority Cannabis Business Association Amber LittleJohn explained that the SAFE Banking Act’s passage would create a sustainable future for small marijuana business and put an end to the unjust criminalization of marijuana. This is what Perlmutter has repeatedly stated while advocating for the banking reform’s passage.

During a recent press release, the congressman stated that he appreciated the campaign’s support of the SAFE Banking Act as well as the coalition’s advocacy for federal marijuana reform, noting that the banking measure would address the needs of small businesses and underserved communities. Perlmutter added that it was vital that the bicameral committee solve this issue as soon as it could and begin relieving the threat of inequity and public safety that threatens emerging small businesses and communities in various parts of the country.

The congressman’s office also put out a separate press release last week that quoted a number of his colleagues in Congress who supported the SAFE Banking Act’s passage as a reform that would address equity, financial transparency and public safety not only for companies such as Flora Growth Corp. (NASDAQ: FLGC) but for entire communities.

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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420 with CNW — California Government Report Highlights Racially Slanted Drug-War Effects

America’s criminal justice system has never been kind to minorities. Long before the drug war wrought untold havoc on the Black community, people of color were much more likely to run afoul of the law, even if they were innocent or had committed the same crime as a White individual. The war on drugs stepped up this racial persecution and allowed the criminal justice system to arrest and convict nearly half a million Black Americans.

A California government task force recently released an interim report on offering the Black community reparations for the damage caused by marijuana criminalization and the failed drug war as a whole. Established by a bill passed into law in 2020, the Reparations Task Force published a nearly 500-page report to delve deeper into how the U.S.’s drug policies were weaponized against minorities and led to a cycle of widespread incarceration.

It includes an extremely detailed analysis of the history of the failed drug war and how law enforcement was used to disproportionately target and imprison Black people. The report states unequivocally that the government criminalized African Americans “at all levels” for social control.

For instance, the report says, one of President Richard Nixon’s top advisors reportedly claimed that the administration’s plan was to get the public to associate Blacks and hippies with marijuana and heroin, and heavily criminalize both drugs to disrupt those communities. The report states that despite research showing that both White and Black people use drugs at nearly identical rates, Blacks are almost four times more likely to be prosecuted and imprisoned on drug charges.

Despite the fact that White people make up the majority of recreational drug users in the country, the report adds, Blacks and Latinos make up three-fourths of the people imprisoned for drug offenses. This has led to significant voter disenfranchisement, the report says. Even worse, it has led to the breakdown of the Black family.

With hundreds of thousands of Black men in prison, many of them for minor drug charges, scores of Black children have had their families ripped apart and have been forced to grow up without the emotional and financial security offered in a two-parent household. The interim report also notes Republicans aren’t the only ones to blame for the institutional racism that pervades America’s criminal justice system; Democratic leaders also pushed for more punitive drug policies. For starters, President Bill Clinton signed the 1994 Crime Bill into law, increasing the penalties for drug charges and upping the rate of mass incarceration.

Then-Senator Joe Biden was also instrumental in passing a couple of bills that further exacerbated racism in law enforcement and sentencing disparity. The task force will release a final report with recommendations on July 1, 2023.

Such reports from committees instituted by state governments vindicate the cannabis industry and industry players such as Cannabis Strategic Ventures Inc. (OTC: NUGS) for campaigning to end prohibition in order to end the racial disparities evident in the way drug laws were being implemented in different jurisdictions.

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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Prime Harvest Profile: Jaxx Cannabis

Jaxx Cannabis is carving out a top spot in the cannabis world with its renowned customer service and quality products. The flagship brand in a portfolio of superior offerings from Prime Harvest, Jaxx features an expertly curated selection of premium products from some of the most respected brands in the thriving California market. Jaxx products are carefully selected to combine valued and quality to create an experience focused and centered on consumers. 

Jaxx Cannabis has differentiated itself in the cannabis space by creating and nurturing a welcoming culture for everyone and being innovative in uncovering new ways to grow both the company and the industry. Jaxx understands the strong connection between meeting the needs and wants of consumers with profitability, and the company is accountable to do both. 

Empowering, Changing Lives

Located in San Diego, Jaxx prides itself on carrying only the best in cannabis products. Visitors to both the brick-and-mortar and online stores can choose from an array of categories, including flower, pre-rolls, vaporizers, concentrates, edibles, tinctures and topicals. Jaxx enthusiasts can even order from a complete line of accessories, including everything from bowls and spoons to entire starter kits, as well as Jaxx swag, including T-shirts, hats, and consumption accessories. 

Committed to empowering and changing lives, Jaxx excels at helping consumers find the right products for their unique lifestyles. The company accomplishes this by offering hand-selected products that meet both county and state regulations — every product has been carefully “Jaxx evaluated” — as well as providing personalized customer service. Each Jaxx staff member is specifically trained to answer any and all questions that consumers may have and to help visitors identify exactly what they need to experience the cannabis results they are looking for.

In addition, Jaxx takes customer service one step further. Customers can order online 24/7, and arrange for pick up the next day while customers in the San Diego area can have their product delivered. The Jaxx brick and mortar and online stores also offer daily deals and cash-back rewards. 

Placing Customers Front and Center

Jaxx prides itself on delivering the experience its customers want. With the support of Jaxx staff, cannabis users can decide whether the calm, peaceful effects of indica or the energizing sativa strains work best. Maybe a customer is looking for help to focus and concentrate or perhaps a creative jumpstart is the end goal. Regardless, Jaxx has the people with the know-how and the products with the power to make those experiences happen.

Simply stated, Jaxx places customers at the front and center of its world. From the moment a potential customer steps inside the Jaxx world to the moment a consumer starts enjoying the cannabis experience they were looking for, Jaxx offers unparalleled support, assistance and service every step of the way. 

The Prime Harvest Connection

Jaxx is only one piece of the Prime Harvest. The company is a full-service cannabis company with an array of operations spanning various segments of the cannabis value chain, from licensing acquisition and compliance management to direct-to-consumer operations. Prime Harvest is following a deliberate business strategy designed for both short-term growth and long-term success. By investing in the growth and scale of licensed assets in California and combining those assets with the potential of data-driven technology to expand its footprint throughout California, Prime Harvest is establishing itself as a leader in the cannabis space.

In addition, the company’s strategy goes beyond the bottom line. The company is committed to sustainability, working to ensure that the communities it serves enjoy their fair share of the financial profit as well as employment opportunities and protected environments. Prime Harvest’s sustainability commitment also involves enrichment and impactful innovation through R&D and education.

Market Overview

Ongoing changes in U.S. state government policies toward cannabis are expected to cause demand for legal marijuana to surge. In addition, the number of indications for which medical marijuana is prescribed continues to increase. These factors are expected to rapidly boost legal sales of cannabis products. A handful of states are expected to pass marijuana legislation in the coming year, joining the 38 states and Washington, DC, that have legalized medical marijuana; 19 of those have also legalized recreational marijuana use. 

Legal sales across the U.S. hit a record of $25 billion in 2021, marking an increase of 40%, according to BofA Securities. This strong growth is expected to continue. According to a Grand View Research report, the global legal marijuana market is forecast to grow at a CAGR of 25.5% from 2022 to 2030.

California – Prime Harvest’s home state – has consistently led the pack in terms of U.S. cannabis sales. Cannabis Business Times pegged cannabis spending in the Golden State at more than $5.2 billion in taxable sales for 2021, the best year yet for the state. 

Leadership Team

The Jaxx/Prime Harvest team is composed of true experts in their respective fields focused on building a world-class organization capable of driving the cannabis industry and movement forward.

E. Duane Alexander is the company’s founder and CEO. He brings to the team more than 25 years of real-world, hands-on cannabis retail, marketing and commercial operations experience. Mr. Alexander has championed 40+ cannabis license applications throughout the western U.S. to date.

John Wilczak is the COO of Prime Harvest. He has 30+ years of executive management, strategy development & configuration experience with GE, pharmaceutical and agriculture companies. Mr. Wilczak is a Brown & Columbia MBA with vast knowledge of technology driven intellectual properties.

Andrea Jenson is the Chief Financial Officer of Prime Harvest. As CFO, she is responsible for all the company’s financial functions, including accounting, corporate finance and investor relations. Her career spans more than 20 years of varied experience in financial management, business leadership and financial strategy.

John Kazanjian is the VP of Business Development of Prime Harvest. He has worked over 40 years in business operations, brand marketing, sales and investor/lender communications. Mr. Kazanjian earned his B.S. from Rutgers University and his MBA from Harvard University.

Johann Balbuena is the Chief Marketing Officer of Prime Harvest. She has more than six years of experience in California cannabis licensing acquisition and compliance management. Ms. Balbuena has led multimedia production and content marketing efforts for the likes of The Emerald Cup, High Times, Weedmaps and Synergy.

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

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

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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