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 — Congressman Optimistic About Cannabis Banking Reform Inclusion in Manufacturing Bill

During a press briefing earlier this week, Rep. Earl Blumenauer revealed that he was optimistic about the possibility of including cannabis banking reforms in the final version of the large-scale manufacturing bill that will soon be signed into law. The Congressman has championed for marijuana legalization for a while now and is currently involved in negotiations on the America COMPETES Act.

During the briefing, the Congressman stated that there was a joint effort among conferees in both chambers to ensure that the SAFE Banking Act, which was approved by the House, was attached to the final conference report that is forwarded to President Joseph Biden’s desk. Blumenauer explained that now was the ideal opportunity to get some movement on cannabis banking.

The first meeting on this large-scale measure was held by the conference committee last week, with various conferees calling for the body to include the language of the SAFE Banking Act in the measure in the interest of public safety and economic competitiveness.

Prior to the conference, the Chair of the House Financial Services Committee, Rep. Maxine Walters, stated that cannabis banking was a legislative priority. Additionally, a significant number of senators also sent a bipartisan letter urging marijuana banking be included in the final version of this large-scale manufacturing measure.

However, despite the SAFE Banking Act’s approval in the House a couple of times, the Senate has yet to advance the measure. Current leadership in the Senate has maintained that a comprehensive legalization measure needs to be approved first before the marijuana banking measure can be passed. The Senate version of the SAFE Banking Act has 42 cosponsors, nine of whom are GOP members.

Meanwhile, the attorney general, the governor and other top officials in the state of Washington have also forwarded a letter to congressional leaders highlighting the need to approve the cannabis banking reform. This preceded a meeting that officials in the state held that focused on addressing the robberies that target cannabis retailers. During the virtual meeting, regulators called for a change in federal policy and discussed alternative measures that Washington state could take if Congress failed to act.

In the absence of action from Congress, more states are enacting cannabis banking reform policies on their own. For instance, legislators in the state of Pennsylvania recently filed a measure that would offer banking protections and tax relief to cannabis businesses in the state.

This comes as the number of banks that are working with cannabis businesses around the country continues to increase. However, what entities such as Cannabis Strategic Ventures Inc. (OTC: NUGS) would welcome wholeheartedly is a policy change that makes it official for banks to work with cannabis firms.

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 — DOJ Urges US Supreme Court to Reject Cannabis Case

The U.S. Department of Justice has asked the U.S. Supreme Court to decline taking up a lawsuit regarding claims for medical marijuana treatment reimbursement for injured employees. A section of the arguments given by the DOJ for its recommendation include a statement that the federal legislature is moving to resolve the conflict between federal marijuana law and state law.

The specific question put before the Supreme Court arises from two cases in Minnesota. In both cases, employees wanted compensation after being injured at work. For both of these cases, the supreme court of Minnesota decided that the law at the federal level banning cannabis took precedence over any state law permitting the use of the substance. This meant that the employees in question weren’t entitled to any compensation from their employers for the medical cannabis they used.

However, the plaintiffs in the case insist that availing workers’ compensation for injured employees who use medical marijuana doesn’t in any way contravene federal law since providing such compensation can’t be interpreted as possessing, trafficking or even cultivating a federally prohibited substance under the CSA.

When this matter was presented to the highest court in the land, the Supreme Court wrote to the DOJ seeking its input regarding the subject matter of the suit. That is how the solicitor general filed a response calling on the SCOTUS to turn down hearing that case, noting that a more suitable remedy could be worked out by the legislature or the executive branch.

The DOJ stated that the issues being raised in the lawsuit are in a new legal zone that is rapidly evolving and it is too early for the highest court in the country to take up a matter that hasn’t matured or generated ample case material at the state level in order to require direction from the highest level of the judiciary. According to the DOJ, any state-level law that compels third parties to subsidize the possession or use of a federally banned substance under the Controlled Substances Act contravenes federal law and is therefore unenforceable.

As more states pass marijuana legalization measures, the contradictions between federal and state law are likely to intensify, with sector actors such as Flora Growth Corp. (NASDAQ: FLGC) having to tread a very thin line between operating within state law while staying clear of being found in contravention of federal law. This isn’t a conducive position for the industry to be in, especially given that each state has its own unique marijuana regulations that licensed companies have to adhere to in each jurisdiction.

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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CannabisNewsBreaks – Advanced Container Technologies Inc.’s (ACTX) GrowPods Suited to Build More Resilient Food Production Capabilities

Advanced Container Technologies (OTC: ACTX) is ideally situated to help meet the needs of the new U.S. Department of Agriculture’s (“USDA”) Local Food Purchase Assistance Cooperative Agreement Program (“LFPA”), which sets out to build a new and more equitable food system. The LFPA is intended to enable “state, tribal and local entities to purchase food more efficiently from local producers and invest in infrastructure that enables partner organizations to reach underserved communities more effectively,” a recent article reads. “According to Advanced Container Technologies, its GrowPods – modular hydroponic greenhouses – could become a valuable tool in this effort to build more resilient local and regional food production capabilities. ‘With GrowPods, cultivation can be moved directly into the areas where food is needed,’ the company noted. ‘Additionally, locating the pods nearer to the point of consumption allows food to be harvested at its peak nutritional value and greatly reduces the carbon and environmental impact of the nation’s current food chain, which relies on trucks carrying mass quantities of produce across the country.’ GrowPods offer a controlled environment with major advantages for the production of high-value crops. The ability to grow crops year-round while cultivating in a smaller footprint using less resources makes the systems particularly well suited for programs such as the LFPA.”

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

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

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Acquisition of Masaya CB Brand

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, has signed an agreement to acquire Masaya and its patent-pending CBD formulations, including Masaya Pure. The agreement was made with leading cell biologist Dr. Annabelle Manalo-Morgan, PhD, who created and owns the brand; Manalo-Morgan is a member of Flora Growth’s board of directors and is the company’s scientific advisor. According to the announcement, Masaya’s exclusive CBD oil formulations contain no THC and have garnered numerous testimonials. The brand will be the first offering from Flora Life Sciences in the United States, and the company anticipates distributing the brand globally. FLGC has already started the process of registering the proprietary formulation with INVIMA, Columbia’s regulatory agency. The company will also be including the Masaya Pure formulation in current clinical trials being conducted in collaboration with the University of Manchester in the United Kingdom. “We are excited to announce the acquisition of Masaya,” said Flora Growth CEO and chair Luis Merchan in the press release. “The brand’s formulation was developed by Dr. Annabelle for her son and has since been used by thousands of consumers. Amplifying Dr. Annabelle and her son’s beautiful story and improving the well-being of people around the world is our aim. This acquisition allows us to deliver on our promise to invest in safe, thorough, cutting-edge scientific research that can bring meaningful change via an efficacious and accessible product offering for people worldwide.”

To view the full press release, visit https://cnw.fm/IYhQ7

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)

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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Flora Growth Corp. (NASDAQ: FLGC) Year-end Report Shows Significant Revenue and Profit Growth, with Expectations for Further Rapid Growth in 2022

  • Cannabis cultivator and distributor Flora Growth has announced its annual financial and operating results, showing “significantly higher” revenues and profit gain for 2021 over the previous year
  • Flora maintains an outlook for 2022 of an additional 288 to 400 percent revenue growth by year end, largely driven by the company’s acquisition of consumer wellness brand JustCBD
  • The JustCBD acquisition increased Flora’s reach to more than half a million consumers through 14,000 retail stores in the United States
  • Flora’s operations are centered at its Cosechemos cultivation facility in central Colombia, where the company enjoys ideal growing conditions year-round and has easy access to an experienced labor force
  • The company recently announced the appointment of industry veteran Holly Bell as Vice President of Regulatory Affairs to help guide the company’s expansion strategy throughout the United States and internationally

Cannabis cultivator and brand builder Flora Growth (NASDAQ: FLGC) spent 2021 establishing the company footprint as a global market distributor and on May 10 announced financial and operating results for the fiscal year that show the success of its efforts as revenues and profits begin what is expected to be rapid climb. 

Flora Growth’s financial growth arises from operations based in Colombia’s prime growth conditions heartland, the nation’s new regulatory openness to cannabis product exports for health and wellness uses, and Flora’s prescient preparedness to reap the benefits of the changing legal landscape. 

The company’s 100-hectare (about 247-acre) Cosechemos facility is capable of producing 600 kg of dried cannabis daily and more than 10,000 kg of cannabis derivatives annually under EU-GMP guidelines. Flora has filed licenses for about two dozen cannabinoid-infused food and beverage products that include juices, sparkling seltzers, gummies, chocolates, ghee butter and healthy snack foods, and the company received authorizations that allowed it to be the first Colombian cannabis operator to move international distribution forward under the new laws.

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 percent and 400 percent 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.

“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,” Chairman and CEO Luis Merchan stated in conjunction with the report’s release (https://cnw.fm/T7cAy).

“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 tonnes of THC cannabis flower,” he added. “And in our Life Sciences pillar, we look forward to potential commercial distribution of pharmaceutical-grade products based on the research of Dr. Annabelle Manalo-Morgan.”

Flora’s management conducted a live earnings call webcast on May 10 to discuss the report, and the webcast is archived on the company’s website. 

On May 16, Flora also announced that industry veteran Holly Bell has been appointed Vice President of Regulatory Affairs to help guide Flora’s domestic and global expansion strategy and lead the company’s government relations in target international markets as it grows.

“I am excited to be working with Flora, supporting our work on the global stage, by advancing how the world views cannabis as a product and as a medicine,” Bell stated (https://cnw.fm/qYg0s). “I’m looking forward to leveraging my experience launching Florida’s hemp program to help Flora improve access to some of the best wellness brands in the world.”

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

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 — US Marijuana Sales in 2021 Exceed Those of Starbucks

People in North America have grown to expect to see a Starbucks outlet almost on every street corner. However, available information on cannabis sales suggests that marijuana could overthrow this coffee giant as legal sales of marijuana exceeded those recorded by Starbucks by a wide margin.

This is no small feat by the marijuana industry, given the fact that only 39 of all the states in the U.S. have legalized marijuana in some form, either for medicinal or/and for recreational purposes. In contrast, Starbucks has been around since the early ‘70s, and coffee has always been legal, while the legal marijuana industry traces its journey to 1996 when California voters approved a measure establishing a medical marijuana industry. The journey to complete legalization across the country is still on.

This history makes the 2021 sales records for marijuana and Starbucks all the more fascinating. Both industries grew last year, with Starbucks revenue increasing by an impressive 25%. However, marijuana edged Starbucks on the growth scale; cannabis sales saw a year-on-year growth of 30%.

As already mentioned, marijuana is legal in different jurisdictions for different reasons. Many people who used the substance obtained from state-legal sources in 2021 did so to combat pain, to improve sleep or to simply have fun as marijuana is legal for recreational use by adults in many states.

It should be remembered that the COVID-19 pandemic was still in full swing for most of 2021, and this could have had an influence on marijuana use patterns across the country. For example, some people may have used the substance as a way to cope with the anxiety brought on by the pandemic. This anxiety could also explain why for the first time in a long time, cigarette use saw an uptick; the previous trend was for smoking to decline year after year.

The trajectory of the growth in the revenue generated by the legal marijuana industry in the U.S. is likely to keep going up given that a number of states, including New York, have modified their cannabis policies and are soon to begin commercial sales while several other states are considering passing legalization laws.

Additionally, efforts are underway to reform the federal marijuana laws. For example, Chuck Schumer, the Senate Majority Leader, is expected to unveil his comprehensive marijuana policy reform bill sometime before August. All these winds of change paint a positive picture for the industry’s future as well as for the future of players that indirectly serve the industry, 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.

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

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420 with CNW — Governor Newsom Proposes Cannabis Tax Cuts to Combat California’s Illicit Market

Last week, Gov. Gavin Newsom of California unveiled a modified budget proposal whose approval would revise the state’s marijuana tax revenue allocations and eliminate the state’s cannabis cultivation tax. The governor’s announcement comes just months after officials in the state announced that California had allocated $100 million in funding for the development of local cannabis markets, which would involve getting marijuana businesses fully licensed.

Newsom’s plan will maintain the 15% excise tax rate on cannabis sales and shift the point of collection and remittance for excise tax to retail from distribution, effective Jan. 1, 2023. This updated budget will also take steps to combat the illicit drug market in an effort to make the legal industry more competitive. This is something that stakeholders have been advocating for, especially as businesses struggle to keep up with a decrease in demand and rising inflation.

During the budget’s unveiling, Newsom noted that he was especially focused on finding ways to diminish the influence of illicit sellers and growers on undercutting licensed, legal businesses. This proposal, if enacted, will increase monthly tax revenue from cannabis in the state by more than 120% by 2024. This is according to findings from an analysis conducted by the Reason Foundation. The analysis report also noted that putting an end to the cultivation tax would also lower costs for consumers which would in turn, lead to a rise in legal purchases.

For this proposal to be implemented, it will need to be approved by a two-thirds majority in the legislature.

In a statement, the policy director for Good Farmers Great Neighbors, Sam Rodriguez, commended the governor’s move. Good Farmers Great Neighbors is a marijuana farmers’ advocacy group. Rodriguez stated that farmers in California were pleased that Newsom was taking steps to address the illicit market, noting that they were looking forward to obtaining more tax relief, which would help stabilize the supply chain.

The updated budget proposal also includes revised estimates on tax revenue allocations for the 2022–2023 fiscal year. The state of California plans to allocate almost $140 million for remediation and environmental clean-up associated with illicit marijuana manufacturing; roughly $401 million for education, school retention and youth substance misuse treatment; and about $140 million for law enforcement.

This proposal also calls for the establishment of a marijuana retail access grant program for local jurisdictions, which will support local retail licensing efforts. The $20 million allocated for this program will be disbursed from the state’s general fund.

It remains to be seen how the implementation of those proposed tax changes will impact the bottom lines of cannabis sector actors in California such as American Cannabis Partners and the entire value chain.

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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420 with CNW — Poll Finds That Majority of Biden Voters Support Federal Cannabis Legalization

A new poll has discovered that a majority of people in America support letting states set their own marijuana policies, including the legalization of cannabis. The YouGov poll found that 7 in every 10 individuals who voted to elect President Joseph Biden support the nationwide legalization of cannabis, despite Biden’s opposition to the change in policy.

This survey emphasizes how unpopular cannabis prohibition is in the United States, with none of the demographics surveyed showing majority support for federal marijuana prohibition. The survey found that 25% of respondents felt that states needed to be able to decide whether or not to legalize cannabis with 45% admitting that they felt that marijuana needed to be legalized at the federal level. This figure makes up the majority of respondents who were in support of legalization.

Of those surveyed, only 17% were still in support of cannabis prohibition, with the remaining percentage still undecided on the issue. The poll also found that 78% of Democrats were in favor of legalizing marijuana federally, with 16% of this number arguing that the decision needed to be left to the states. The remainder argued that the plant needed to be legalized at the national level.

The survey also found that 23% of Republicans were in favor of national legalization while about 35% preferred that it be the states’ call. In addition to this, the poll found that more than 30% of those who identified as Republicans were in favor of federal cannabis prohibition. Of those who identified as Independent, 14% supported federal prohibition while roughly 25% were in favor of states making the decision. Additionally, the survey discovered that vast majorities of all age demographics believed that cannabis needed to be legalized, either as a state decision or across the country.

The survey also asked respondents about their coronavirus vaccination status, finding that fully vaccinated individuals who had also received their booster shots were more likely to support nationwide legalization with almost 20% preferring that it be the states’ decision. Of the number that was vaccinated without the booster, 19% were in favor of cannabis prohibition while 30% were in favor of it being the states’ choice. The survey’s findings show that support for marijuana reform was lowest among the nonvaccinated cohort.

The survey also asked questions on same-sex marriages, sex work and abortion rights. The survey involved 1,500 adults in America and was conducted May 8–10 of this year. The survey’s results show the growing popularity of cannabis reform as more states regulate marijuana and move to end its prohibition by allowing companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) to operate within the markets established.

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

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 — Congressional Legislators Voice Support for Cannabis Banking

A bicameral conference charged with negotiating the final text of a large-scale bill intended to make the U.S. competitive against China saw many conferees express support for including cannabis banking language in the manufacturing bill. This was during the first sitting of the conference.

At least half a dozen conferees took to the floor to mention the marijuana banking issue when debate on the manufacturing bill started. The majority of these members spoke in support of including the banking bill in the final document agreed upon during the conference.

For example, Rep. Earl Blumenauer from Oregon stated that several overdue policy changes, such as allowing cannabis companies to access banking services, needed to be addressed. He went on to mention that in just one week, there were three fatalities in the home state of the chairwoman and those fatalities were linked to robberies targeting cannabis shops.

He added that SAFE banking was now an issue of life and death and, having been passed half a dozen times before, now was the time to include it in the manufacturing bill so that public safety could be ensured.

Senator John Hickenlooper from Colorado also added his voice to those calling for cannabis banking during the conference meeting. He said that the conference was an opportunity to reinvigorate manufacturing in the United States, and reforming banking laws in order to facilitate access to banking services by marijuana companies can bring this industry from “the darkness” and into the light of the formal financial system.

Senator Patty Murray, the third-highest ranking senator on the Democratic side of the political aisle, expressed her hope that the conference would reach an agreement to include cannabis banking in the COMPETES bill so that marijuana companies in different states, including hers, would no longer face the threats arising out of operating on a cash-only basis.

Only one conferee, Senator John Barrasso, a Republican from Wyoming, spoke against including cannabis banking in the manufacturing bill. He wondered how cannabis banking is connected to competing with China on the global stage and therefore saw no reason to keep SAFE banking in the COMPETES bill.

Pressure has been mounting to enact reforms aimed at granting marijuana companies access to banking services, especially in the wake of the armed robberies that have targeted state-legal cannabis companies. As the death toll rises from this violent crime wave, so will the ridiculousness of denying marijuana industry actors such as Flora Growth Corp. (NASDAQ: FLGC) access to mainstream financial services.

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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CannabisNewsBreaks – Bright Green Corporation (NASDAQ: BGXX) Commences Trading on the Nasdaq

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. As previously announced, the company has commenced the trading of its common stock on the Nasdaq Capital Market under the symbol BGXX. For additional details, view the prospectus related to the registration statement Bright Green filed on Form S-1 with the Securities and Exchange Commission (“SEC”), available on the SEC’s website at www.SEC.gov.

To view the full press release, visit https://cnw.fm/Wh32t

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, gives the company the opportunity 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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