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 — Congressional Democrats Discuss Cannabis Equity Issues During Policy Retreat

A policy retreat that featured a panel discussion on advancing cannabis reform with a focus on the promotion of equity was attended last week by Democratic congressional legislators.

The panel was moderated by Rep. Barbara Lee and was focused on the need to ensure that communities that were most affected by prohibition could benefit from the federal legalization of marijuana. Those in attendance discussed the Marijuana Opportunity, Reinvestment and Expungement (“MORE”) Act, which was sponsored by Jerrold Nadler, the House Judiciary chair.

The event was held in Philadelphia a day after the House passed a large-scale spending bill that carries on an appropriations rider that blocks Washington D.C. from allowing marijuana commerce, despite voters’ approval of legalization at the ballot almost a decade ago.

In an interview, the executive director of Supernova Women, Amber Senter, stated that misconceptions about individuals who qualified for equity benefits under proposed legalization measure and equity programs were discussed. Senter, a constituent of Lee, added that she wanted legislators to understand the difference between Black business and social equity, noting that most believed that they were one in the same.

She added that lawmakers were engaged in the discussion and were keen on following up to learn how to protect Black businesses, highlighting how those in attendance also seemed open and willing to learning more about what was happening from the perspective of those who operated businesses. This, Senter noted, was encouraging as she herself is an owner and operator of a marijuana business.

Amber LittleJohn, executive director of the Minority Cannabis Business Association, and Maritza Perez, director of the Office of National Affairs at the Drug Policy Alliance, also took part in the discussion.

Congressional Democrats have held closed-door retreats for cannabis reform a number of times in the recent past. For instance, Rep. Earl Blumenauer and Lee also moderated a panel in 2019 that covered various issues, including the consequences of marijuana criminalization.

It hasn’t been confirmed whether House leadership will re-introduce the MORE Act to the floor this month. The measure was approved by the Judiciary Committee in September last year. Stakeholders and advocates are also waiting for Majority Leader Chuck Schumer to introduce a separate Senate legalization bill, the Cannabis Administration Opportunity Act, which Schumer revealed would probably be filed in April of this year.

This comes as the state of New York, the majority leader’s home state, takes steps to prioritize individuals who were most affected by marijuana prohibition.

The cannabis industry, including companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS), looks forward to the translation of these discussions into concrete steps to end marijuana prohibition federally and address equity issues comprehensively.

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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces New Board Appointments

Flora Growth’s (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has made two significant changes to its board. The company named FLGC CEO Luis Merchan as board chair and announced that former Amazon executive Tim Leslie, who is currently serving as chair of Flora Growth’s advisory board, will join the company’s board of directors and audit committee. The company noted that the changes to the board indicate FLGC’s move toward becoming a U.S.-based issuer; the new appointments also support the company’s growth into new international markets. Merchan is replacing Bernie Wilson as board chair; Wilson will serve in an advisory capacity through 2022 to provide strategic guidance on capital markets and international expansion. “I am honored that our board has entrusted me with this role, and I believe it is a testament to what we have built together thus far,” said Flora Growth CEO and newly appointed chairman of the board Luis Merchan in the press release. “Our board has been incredibly supportive to date while always ensuring business decisions are in the best interest of our shareholders, and I am looking forward to continuing to work closely with them in this role. . . . We want to thank Bernie for his commitment to the growth of Flora during this formative time for our company and look forward to continuing to work with him as we continue to grow.”

To view the full press release, visit https://cnw.fm/2IeIX

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers 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 its diverse business divisions of cosmetics, hemp textiles, and food and beverage. For more information about the company, please visit www.FloraGrowth.ca.

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

About CannabisNewsWire

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

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CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Makes Changes in Management

InMed Pharmaceuticals (NASDAQ: INM), a leader in the research, development, manufacturing and commercialization of rare cannabinoids, has announced changes in company leadership. According to the announcement, InMed chief financial officer Bruce Colwill is retiring, effective March 31, 2022; Colwill will serve as an advisor to the company through June 30, 2022, to ensure a smooth transition. The company has appointed Brenda Edwards as interim CFO while the company searches for a full-time replacement. Edwards has garnered more than 35 years experience to her new position, including more than two decades of experience as a chief financial officer; she has served in both private and public companies. Throughout her career, she has worked closely with merger and acquisitions, financings, managing high-growth situations and financial reporting. “I would like to thank Bruce for his invaluable leadership and significant contributions over almost three years including managing our transition to the Nasdaq and several financings to ensure the long-term growth of the company,” said InMed president and CEO Eric A. Adams in the press release. “I wish him the very best and appreciate his continued assistance to ensure a smooth transition. I am delighted to welcome Brenda to the company. Brenda comes with extensive experience and will be an excellent fit to help us through this transitional period.”

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

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids. Together with its subsidiary BayMedica LLC, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients who may benefit from cannabinoid-based pharmaceutical drugs. For more information, please visit www.InMedPharma.com.

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

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420 with CNW — ABA Poll Shows Americans Want SAFE Banking Act Passed

A recent survey released by the American Bankers Association has found that almost 70% of Americans are in favor of allowing financial institutions to work with cannabis businesses without the threat of being penalized. The poll, which was conducted by Morning Consult, interviewed more than 2,000 adults between February 18–19, 2022.

The survey asked respondents a pair of questions on cannabis banking. The first asked respondents whether they support or oppose allowing cannabis businesses to “access traditional banking services, like a checking account or business loan, in states where cannabis is now legal.” The poll found that 65% were in favor of this, with only 15% opposing it. The second question asked respondents whether Congress needed to pass a bill that would accomplish this reform, with 68% indicating that legislators did need to approve the measure.

The bipartisan measure in question, the Secure and Fair Enforcement (“SAFE”) Banking Act, would offer protections to banks that worked with state-legal cannabis businesses. This bill has been approved in some form in the House half a dozen times. However, it has yet to be passed in the Senate.

In a press release, Rob Nichols, the CEO of the American Bankers Association, highlighted that consumers agreed that the time had come to allow banks to serve legal marijuana and marijuana-related businesses. Nichols noted that this measure would help banks meet communities’ needs while also improving the financial transparency of the growing marijuana industry, increasing tax collection efficiency and increasing public safety.

The American Bankers Association was one of several insurance, financial and labor groups that called on Congress to approve the cannabis banking reform as part of a large-scale defense legislation last year. The bill’s language was successfully attached to the defense measure by the banking bill’s sponsor, Rep. Ed Perlmutter. However, the language was scraped off later during bicameral negotiations.

This may change now, after Senate Majority Leader Chuck Schumer, who has been an obstacle to the banking measure’s approval in the Senate, revealed that approving the bill was a possibility if some equity provisions were included. Soon after this, Perlmutter stated that he was open to revisions, noting that he was confident that the Senate would take up his measure before he went into retirement at the end of this session.

Many hope that the banking measure will soon be approved, as the number of banks working with legal cannabis businesses increases. As the relationship between mainstream banks and licensed marijuana companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) is allowed under federal law, we are likely to see the industry grow at a faster rate since companies will have access to needed services, including bank loans to fund their growth.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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420 with CNW — Proposed Congressional Bill Encourages Military Veterans to Discuss Medical Cannabis Treatment with Physicians

Rep. Seth Moulton (D-MA) is sponsoring a new bill in Congress that would encourage military veterans to talk about using medical marijuana for treatment without the fear of losing federal benefits. The aim of the legislation is to make it harder for future Veteran Affairs (“VA”) leaders to change existing policies that currently allow VA physicians to talk to their patients about using medical cannabis for treatment.

The bill states that veterans cannot be found ineligible for care and services because of their participation in state-funded cannabis programs. The bill clarifies, however, that no individual can use marijuana while on veteran property, even in states where the use of marijuana is legal.

Normalizing the use of marijuana among veterans will go a long way in helping them manage their health issues. Moulton mentioned in a press release that veterans are twice as likely to die from opioid overdose in comparison to civilians. Therefore, it is part of the government’s responsibility to ensure the service men and women have access to solutions that offer relief to pain and anxiety.

Currently VA physicians are allowed to honor a patient’s wish of alternative forms of treatment, but they are restricted from issuing recommendations in which veterans take part in drug addiction treatment. Moreover, medical providers can adjust treatment plans when needed. The adjustments need to be relevant, and veterans are allowed to seek a second opinion if the transition seems unfair.

A veteran’s cannabis use will be annotated in medical records because the information will be used in treatment planning. If a veteran is responsibly using marijuana, it will not be recorded as a marijuana addiction. The records will be protected by privacy regulations and be treated with confidentiality.

VA medical providers are required to follow federal regulations. According to the bill, research on marijuana benefits and risks can be carried out under federal authorization. This provision mirrors existing policies that have governed research on marijuana for the veteran community. The bill also says that the doctors cannot dissuade veteran patients from taking part in nondepartment medical marijuana research.

The bill lays out guidelines for veteran surveys stating that the VA secretary would have to address certain concerns including dosage, type of marijuana used and frequency. Furthermore, doctors would partner with universities and medical institutions to undergo training in the use of medicinal marijuana.

Moulton has been active in leading veteran- and cannabis-specific regulations in past Congress sessions. In 2019, he filed three bills pushing medical marijuana access for military veterans.

The announcement of this bill comes months after a coalition of lawmakers wrote to VA Secretary Denis McDonough demanding a policy change that would ensure military veterans have access to medicinal marijuana.

Marijuana industry actors, including leading companies such as American Cannabis Partn e r s, have always spoken highly of equity, and a law allowing military veterans to discuss medical marijuana with VA doctors boosts equity since it is unthinkable for veterans to be denied access to medical marijuana in jurisdictions where the general population can easily access such treatment.

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

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CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Launching Additional Rare Cannabinoids in Response to Inbound Demand

InMed Pharmaceuticals (NASDAQ: INM), a clinical-stage company developing cannabinoid-based pharmaceutical drug candidates and manufacturing technologies for pharmaceutical-grade rare cannabinoids, has dedicated itself to developing new therapeutic alternatives for the treatment of conditions with high unmet medical needs. The manufacturing process used by InMed and its recently acquired subsidiary BayMedica is unparalleled in the industry. “There is no ‘one-size-fits-all’ approach to cannabinoid manufacturing, so multiple avenues are required to realize the maximum outcome for the targeted cannabinoid. InMed and BayMedica, like a well-oiled machine, work together using biosynthesis, chemical synthesis and the proprietary IntegraSyn(TM) manufacturing models,” a recent article explains. “Together, InMed and BayMedica plan to launch a series of rare cannabinoids into the health and wellness sector during Q1 2022, starting with cannabicitran (‘CBT’). ‘We are delivering on our objective to launch additional rare cannabinoids in early 2022 in response to inbound demand,’ BayMedica SVP and General Manager Shane Johnson said. ‘By midyear, we expect to have at least four rare cannabinoids available for the health and wellness markets, positioning us as a leading large-scale supplier of high-quality rare cannabinoids in these sectors.’”

To view the full article, visit https://cnw.fm/Sn3Ts

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids. Together with its subsidiary BayMedica LLC, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is also a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients that may benefit from cannabinoid-based pharmaceutical drugs. For more information, visit www.InMedPharma.com and www.BayMedica.com.

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

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Exploring Potential Move into Omakase Sushi and Cannabis Venture Space

Sugarmade (OTC: SGMD), an emerging company in the licensed cannabis sector, today announced that it is exploring a possible joint venture with a well-established business to create access to the Los Angeles reservation-only omakase sushi restaurant marketplace. According to the update, the joint venture may include an on-site cannabis event area and cannabis delivery services hub. “We believe this presents a tremendous opportunity for Sugarmade to break into a new market that aligns well with our established expertise and infrastructure,” said Jimmy Chan, CEO of Sugarmade. “On-site cannabis consumption is still extremely rare at dining establishments in LA. The omakase phenomenon has become one of the defining trends in the restaurant industry over recent years. We believe this dovetails extremely well with the cannabis trend. A partnership in this area may open the door to further establishing Sugarmade cannabis products in the rapidly growing and vibrant LA metro marketplace.”

To view the full press release, visit https://cnw.fm/Vi76q

About Sugarmade Inc.

Sugarmade is a product and brand marketing company investing in operations with disruptive or hyper growth potential. The company is headquartered in Monrovia, California, a suburb of Los Angeles. Sugarmade’s core strategic plan is centered on expanding its end-market access as a central player in the growing California cannabis delivery marketplace while developing its in-house cannabis production capacity to verticalize operations in the space. Through a combination of organic growth and strategic acquisitions, Sugarmade intends to develop a full farm-to-door vertically integrated cannabis business. The company’s cannabis portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.

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420 with CNW — New Poll Finds More Than 30% of Parents Can’t Tell CBD, Marijuana Apart

A recent poll has found that an estimated 80% of parents know almost nothing about CBD products. CBD (cannabidiol) is a chemical compound found in the hemp and cannabis plants. CBD usually contains only 0.3% of THC. THC (tetrahydrocannabinol) is the psychoactive component of the cannabis plant that induces a high when consumed.

The poll found that of the 7% of parents who had considered giving or had given their child a CBD product, only about 30% had discussed its use with their child’s pediatrician. Close to 2,000 parents in the country participated in the poll, with 35% of them revealing that they thought that cannabis and CBD were the same thing.

Most CBD products, apart from Epidiolex, aren’t regulated by the U.S. Food & Drug Administration (“FDA”), which means that they can be easily purchased off the shelf. Epidiolex is a prescription drug developed for the treatment of certain forms of epilepsy.

The poll also found that more than 80% of parents would like the FDA to regulate CBD products, with only 58% adding that its regulation by the federal agency would be a crucial factor in their decision-making process on whether to administer these products to their children. It also found that almost 75% of the parents believed that CBD products for children needed to be prescribed by a doctor.

While there’s anecdotal evidence showing that CBD may be used to reduce inflammatory diseases, pain and anxiety in children, not many studies on the compound’s effect on kids have been conducted. Dr. Jennifer Griffith, who wasn’t part of the study, noted that the potential side effects of administering the products to children included a reduction in appetite, nausea or vomiting, fatigue and diarrhea. Griffith, who is an assistant professor of pediatrics and neurology, added that CBD could interact with other prescription drugs, substantially reducing or increasing the level of medication in the body, resulting in a number of problems.

Sarah Clark, a co-director of the survey, stated that adults with CBD products should keep them out of reach of children and treat them as medication. She cited the example of products such as CBD gummy bears, which children could see as candy and end up consuming them. Clark added that parents needed to speak to their children’s medical provider before giving their child a CBD product. Doing so allow the provider to suggest alternatives, as well as discuss any potential drug interactions and side effects the child may experience. In addition, it would alert the medical provider to any issues the child could be facing.

The glaring gaps in parents’ knowledge about CBD and cannabis in general means that sector players such as Cannabis Strategic Ventures Inc. (OTC: NUGS) may need to provide more consumer education beyond what they offer at their distribution or retail outlets.

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420 with CNW — Why You Should Buy Marijuana from Licensed Outlets

Cannabis consumers have a strong relationship with their dealers. This is because their communication methods offer a convenient connection to a supply of marijuana. As a result of this back and forth, a relationship develops over time in which the involved parties mutually benefit from each other.

Cannabis dispensaries, on the other hand, also provide benefits. Despite offering cannabis at prices that could be slightly higher than on the black market, dispensaries come with the security and quality control on top of supplying consumers with a variety of options.

A licensed cannabis dispensary is a brick-and-mortar space that offers its customers a variety of quality-grade cannabis products. The products sold tend to have undergone numerous lab tests in order to achieve high-quality standards. The advantage of buying cannabis from a dispensary rather than a dealer is the transparency on potency levels and other helpful information found on its labels. This is essential to patients who require prescribed medications because it eliminates second guessing of THC levels.

Cannabis users tend to consume the drug for different reasons. As a result of this, dispensaries offer an assortment of products that fit the customer’s preference. Some clinics have warehouses to ensure the stock never runs out. By shopping at a dispensary, a buyer can compare products and also make informed choices based on research.

Since dispensaries are always finding ways to attract and retain customers, with some of them running loyalty and membership programs. The benefit of such programs is that the buyer can save money through discounts and rewards as well as receive free merchandise and marketing information on the specials.

Dispensary staff also undergo training that equips them with the necessary skills to serve customers. In some instances, they are certified by organizations such as SellSafe to professionally sell cannabis. Such initiatives aim to improve customer service and make it easier for buyers to obtain personalized recommendations based on one’s health goals, budget and lifestyle.

Synthetic cannabis is popular on the unregulated market. These products are designed to mimic the effects of cannabis. They pose health risks because their lethality has led to hospitalizations and in some cases even death. Moreover, cannabis grown by black market operators have often been exposed to pesticides and herbicides, which are harmful to humans.

The illicit market is known for supporting crime. Therefore, by buying from a dispensary, the consumer is boosting the economy, supporting local businesses and improving the healthcare system while starving crime of its funding.

As regards pricing, many companies such as Flora Growth Corp. (NASDAQ: FLGC) have opted for cultivation locations where the final product is more competitively priced without compromising quality. In this way, consumers may not have to pay so much when they decide to abandon the illicit market in favor of licensed suppliers.

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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Commencement of DehydraTECH-CBD Epilepsy Research Program

Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug delivery platforms, today announced that the first phase of its epilepsy research program EPIL-A21-1 is beginning this week. According to the update, the DehydraTECH(TM)-CBD test articles needed to commence dosing have already been manufactured and delivered to the third-party laboratory engaged to complete this research program. EPIL-A21-1 will assess the seizure inhibiting activity of DehydraTECH-CBD compared to the world’s only FDA-approved CBD-based seizure medication, Epidiolex(R). Lexaria hopes to demonstrate superior performance based on DehydraTECH’s known advanced drug delivery capabilities. Lexaria’s seizure program expects to leverage the significant gains in systemic delivery and brain uptake evidenced and announced from other studies comparing DehydraTECH 2.0 CBD formulations with concentration-matched controls, which the company believes has potential to improve therapeutic efficacy for a range of disease conditions affecting the central nervous system including epilepsy.

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

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids and nicotine by 5-10x, reduce time of onset from 1 – 2 hours to minutes, and mask unwanted tastes; and is also being evaluated for orally administered anti-viral drugs, non-steroidal anti-inflammatory drugs (“NSAIDs”), and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 24 patents granted and over 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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