Author: CannabisNewsWire (CNW)

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

CannabisNewsBreaks – Flora Growth Corp.’s (NASDAQ: FLGC) Announces Receipt of 2022 Export Quota for High-THC Cannabis

Flora Growth’s (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has received its annual export quote from the Colombian Ministry of Health and Social Protection. The company announced that the quota is for a total of 43,600 kg of high-THC cannabis, an updated quota that allows adequate export of medical cannabis products to meet Flora’s existing and future supply agreements in both bulk dry flower and derivatives. That allotment means Flora can produce and export both high-THC dry flower and cannabis derivative products and start to fulfill its previously announced agreements, including the agreement to send 3,600 kg of high-THC flower to Israel-based Artos. The company anticipates producing and exporting both high-THC dry flower and cannabis derivative products. With the allotment, the company will be able to export its Good Agricultural and Collection Process (“GACP”)-certified products to legal cannabis jurisdictions around the world. According to the announcement, the Colombian government’s quota system only requires a quota for high-THC or psychoactive cannabis; the government does not limit the cultivation or production of high-CBD flower or derivatives with less than 1.0% THC. The company also announced that it had received approval from the Colombian Agricultural Institute for the cultivation of four additional strains. “With receipt of this expanded 2022 quota, we can now work towards fulfilling previous agreements, including the agreement with Artos Ltd. to send high-THC cannabis to Israel and other legal markets,” said Flora Growth chief commercial officer Jason Warnock in the press release. “The changes to the export quota this year represent a major milestone for Colombian exports and provide a clear pathway for the region to make a significant global impact on the cannabis industry.”

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

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.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

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420 with CNW — Illinois House Passes Measure Protecting Marijuana Users from Workplace Discrimination

Last week, the Illinois House of Representatives approved a bill that would protect workers who use cannabis while off-duty from being terminated. The bill would also prevent employees from discriminating against job seekers who have tested positive for cannabis.

The measure is currently under consideration in the Senate and includes some exemptions. The bill is sponsored by Democratic Representative Bob Morgan, who states that individual liberties should be respected. He spoke to WGEM saying that no one should be discriminated against in the workplace because of their choices as long as those choices do not impact the working environment.

Illinois was the first state in 2019 to legalize marijuana and set up a retail system for adult-use products through legislative action. The state’s sales of recreational cannabis products reached over $1 billion last year.

The amended version of the recent bill was passed by a 61-41 vote. The bill would still allow employees to fire workers who use cannabis while on duty. It also exempts protection to workers whose jobs involve carrying weapons, operating airplanes and big machinery, providing emergency services or performing tasks that require strong adherence to safety standards.

Moreover, anyone contracted by the federal Department of Transportation would be exempted from the bill’s protection. Observers have noted that the bill would only be effective in protecting workers who test positive for low amounts of cannabis since employers can still terminate employees whose test results exceed limits set by the state’s vehicle regulations. The state limits are used to restrict impaired driving.

Drivers in Illinois are considered impaired if their THC concentration in blood is 5 nanograms per milliliter (ng/ml) within two hours of driving. Critics have noted that the limit is too low and that THC levels can remain high for days or weeks in the bloodstream after provable impairment.

Applying a similar limit to workers could generally put them at risk of termination from using cannabis while away from work. For example, a worker can smoke a blunt the night before work and still record high THC concentration levels in their blood despite lacking any indication of impairment.

Similarly, Washington DC authorized a measure that protects job applicants from being subjected to pre-employment drug tests. According to the bill’s sponsor Councilmember Trayon White (D), this move would resolve inequalities by making sure that those who use cannabis for medical or recreational reasons are not penalized.

As more states loosen the restrictions on marijuana and bring an end to the drug’s criminalization, drug tests and other cannabis-related workplace issues are becoming topics of discussion. Amazon ended all cannabis drug tests last year, and the company is looking to restore the employment eligibility of former workers and job applicants who were penalized for having a positive THC test.

As more states take the step taken by Illinois to prevent cannabis consumers from being penalized for off-duty consumption, residents will be more free to buy legally produced products by companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) that are made for recreational or medicinal use.

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

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 — Biden Administration Warns Applicants to Refrain from Investing in Cannabis Companies

Smoking cannabis may no longer be the only obstacle that keeps you from getting a job with security clearance. Turns out, investing in marijuana companies may also be an impediment. According to an internal presentation, the White House has broadened its employee conduct guidelines to deny clearance to any person who has invested in companies involved in the cannabis industry.

The document states that an individual’s eligibility could be impacted negatively if they directly and knowingly invest in business ventures or stocks that are related to cannabis retailers and cultivators. It goes on to indicate that any decision made to invest in such activity willfully may reflect an individual who isn’t willing to comply with rules, regulations and the law.

This update is another demonstration of the federal government trying to deal with its marijuana-related HR policies as cannabis becomes a more accepted legal recreational, medical and business substance in states across the nation. Currently, the District of Columbia and 37 states as well as various territories have legalized marijuana for recreational and/or medical use.

Despite this new development, this administration is still one of the most lenient when compared to predecessors. President Biden even issued a memo in which he stated that prior use of cannabis wouldn’t automatically disqualify those who applied for such positions.

It isn’t clear which cannabis stocks the Biden administration is talking about because U.S.-based cannabis companies aren’t traded on American exchanges because they aren’t federally legal entities. Instead, American cannabis companies trade on exchanges in Canada, as marijuana is federally legal in the country. Any marijuana companies that are trading on American exchanges are either selling and manufacturing cannabis in a nation where it’s federally legal, such as Canada, or are selling only legal CBD products.

Neither the director of National Intelligence’s office nor the White House are yet to shed light on this language. Some believe that this updated guidance suggests that the Biden Administration is preparing for more normalization of the marijuana business and is working towards ensuring that there are no conflicts of interest if the government starts the process of additional regulation.

Marijuana activists have sometimes referred to the president as “out of date” when it comes to marijuana policy, especially since almost 70% of Americans, including more than 80% of Democrats, support the federal legalization of cannabis.

Thus far, the president has been quoted stating that he will make research on medical cannabis easier to carry out and that no individual should be jailed for using cannabis. If these statement turn into concrete actions, the entire cannabis industry, including companies such as American Cannabis Partners, will have an improved environment within which to operate.

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

About CNW420

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

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Enters Agreement to Bring Mind Naturals to Hong Kong and Key Global Markets

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced its entry into a distribution agreement with Israel-based DNO Group to distribute the Mind Naturals brand in the Hong Kong region. A leading distributor of global independent brands, DNO Group has over 50,000 points of sale throughout Asia in addition to its broader global reach. Under the agreement, Flora will work with DNO to identify growth opportunities and, using an omnichannel approach including brick-and-mortar retail, e-commerce and wholesale, bring the Mind Naturals brand to market in new territories. The initial focus will be on Hong Kong, which is expected to follow with a second phase expanding to India and Israel. “We are excited to see the continued expansion of Mind Naturals into new international markets, especially those with a high demand for skincare products,” said Flora Growth CEO Luis Merchan. “With quality ingredients and a thoughtful customer experience, Mind offers something different in this competitive space. We look forward to working with DNO to bring this unique offering to key markets around the world.”

To view the full press release, visit https://cnw.fm/U118S

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 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. Visit www.FloraGrowth.ca 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 21000 (U.S. Mobile Phones Only)

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) to Share Its Story at the 34th Annual Roth Conference

Advanced Container Technologies (OTC: ACTX) today announced that its key executives will be attending the 34th Annual Roth Conference, which is taking place in Laguna Niguel, California, from March 13-15, 2022. The conference is one of the largest of its type in the nation, focusing on small-cap businesses and featuring company presentations, question-and-answer sessions, and one-on-one meetings. ACTX’s long-term growth strategy focuses on several key inter-related vertical markets that provide unique synergy and opportunities. The company’s chief initiative is to revolutionize the direct-to-consumer food delivery (“meal kit”) market. “In 2020, amidst a global pandemic, we were able to make key strategic moves that fortified the company for future growth and expansion,” said Douglas Heldoorn, CEO of Advanced Container Technologies. “The company is ideally positioned for scale and growth: We have the right products in the right markets, and we expect great interest as we share our story with the Roth Capital Conference attendees.”

To view the full press release, visit https://cnw.fm/TQ3J1

About Advanced Container Technologies Inc.

Advanced Container Technologies is the exclusive distributor of GrowPods (controlled environment farms) in certain markets. For more information on GrowPods or Advanced Container Technologies, call (951) 381-2555 or visit 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 21000 (U.S. Mobile Phones Only)

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420 with CNW — Which Branch of the US Federal Government Could Initiate Marijuana Policy Reform?

The U.S. cannabis industry is experiencing a boom right now with Americans spending almost $25 billion on adult use cannabis products in 2021. Despite the growth, the industry has been affected by outdated policies that classify the drug as a Schedule 1 substance. This has greatly affected business operations, and as a result, corporations are working with advocacy groups to lobby for reforms that could significantly transform the industry. Meanwhile, countries such as Canada and the United Kingdom have changed their legislation to promote legality and medical research of the drug.

As the midterm polls approach, industry experts are predicting that there will be a significant push for federal marijuana reforms. According to Steve Hawkins, the executive director of the U.S. Cannabis Council (“USCC”), Congress is looking forward to passing a banking reform law. The bill will transform the industry by providing businesses with access to financial services and other benefits.

Apart from Congressional action, the other way to improve the policies governing the industry is through court challenges and executive decisions. As each option aims for improvement, they will impact cannabis businesses differently.

Congressional action is considered the most preferred way for pushing reforms. Lawmakers are considering bills that offer social equity and offer incremental gains. For example, the SAFE Banking Act is a bill sponsored by Rep. Ed Perlmitter (D-CO) that will see cannabis businesses receive financial services from banking institutions without federal penalties.

Congress has the ability to consider the prospects and needs of the cannabis industry in steps. Hawkins states that the USCC is prioritizing comprehensive reforms passed through Congress. However, some stakeholders disagree. According to Albert Gutierrez, CEO of Colorado-based MedPharm, a lot of effort will be used to legalize cannabis through Congress.

Challenging the federal government’s prohibition through the court systems has not been successful due to a number of reasons. Nevertheless, this has not dimmed down the possibility of a victory.

Cannabis stakeholders believe that reform could happen through rescheduling it to a Schedule 2 drug or lower. For such a decision to be successful, it would require involvement from the U.S. Food and Drug Administration (“FDA”) and Drug Enforcement Administration (“DEA”). Both agencies are somewhat cannabis friendly, and the newest FDA commissioner is a supporter of medical research of marijuana.

Other factors that could influence rescheduling include the country’s rescheduling stance at the United Nations and the DEA awarding licenses that allow many more entities to grow cannabis for federally approved research.

Regardless of which branch of the feds take the lead in bringing about cannabis policy change, the entire industry and sector actors such as Cannabis Strategic Ventures Inc. (OTC: NUGS) would be glad to see an end to federal marijuana prohibition and its current barriers to the sector.

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 — A Glimpse at the Road Ahead Before Marijuana Beverages Dominate the Market

Released estimates show that by the end of this year, the THC-infused beverages market will be valued at $340 million. Manufacturers of marijuana beverages need to understand the gaps in the market and find ways to bridge those gaps in order to approach the same levels of market share as its alcohol counterpart.

Consumer sentiment is the primary driver in the creation of new categories, and there are four areas of opportunity driven by consumer sentiment, which manufacturers in the flourishing cannabis beverage industry should consider. Those areas include the following:

  • Individuals who are sensitive to the effects of alcoholic drinks and prefer to not have hangovers but would still like a beverage that allows them physical and social benefits.
  • Marijuana consumers who would like to replace their smoking habits or complement their existing consumption preferences.
  • New consumers who are easing into or are curious about recreational marijuana but aren’t keen on experimenting with edibles.
  • Individuals who consume alcohol and have become mindful of the effect alcohol has on their well-being and health and are seeking alternative ways to socialize and/or relax.

Once manufacturers gain a good understanding of the consumer insights that drive growth in the beverage market, they can take into consideration the unique opportunities in the market which benefit them. These include the following:

The popularity of THC products has been growing

Thus far, 18 states have legalized the recreational use of marijuana, which has led to the creation of a billion-dollar marijuana market.

Beer and overall beverage market sales have declined

Growth has stagnated within the larger beverage market in the last couple of years. This has pushed manufacturers such as Heineken and Molson Coors to invest in research and development in new markets, particularly cannabis, as cannabis beverages may soon replace alcoholic drinks.

Possible manufacturing advantages

Manufacturers of THC- or CBD-infused beverages can ferry their concentrate to existing facilities that are used in the manufacture of carbonated drinks, given that the facilities are currently underutilized, judging from the reduction recorded in beer and carbonated drink sales. This will allow cannabis beverage makers to make use of production availability.

However, there are also challenges that manufacturers should keep in mind. This includes the interstate travel requirements as well as the serving size and weight restrictions, among many others.

This shouldn’t discourage those seeking to invest in or that are already involved in the industry, as there are uncertainties with any new market. Keeping in mind these challenges as well as opportunities the market presents may increase a company’s chance of success. Companies such as Flora Growth Corp. (NASDAQ: FLGC) that have a stake in the beverages segment have their work cut out if beverages are to make a sizeable dent into the market share that cannabis flower currently enjoys.

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

About CNW420

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

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420 with CNW — Data Shows More Banks Are Working with Cannabis Businesses as Clients

Data recently released by the Financial Crimes Enforcement Network shows that the number of financial institutions working with cannabis businesses grew in 2021. While it isn’t clear if this increase is associated with moves in Congress to approve a marijuana banking reform measure, this federal data shows that banks feel more comfortable serving cannabis businesses located in state-legal markets.

As of September 2021, there were 755 credit unions and banks that revealed that they were actively servicing marijuana clients. This is a slight increase from the figure recorded in the previous quarter.

Despite the presence of the Financial Crimes Enforcement Network guidance, which financial institutions can use to navigate this space, legislators are focused on enacting clear protections that will be accomplished through the Secure and Fair Enforcement (“SAFE”) Banking Act. The SAFE Banking Act will prohibit federal regulators from penalizing financial institutions such as banks that serve legitimate cannabis businesses.

However, some reluctance within the banking sector may remain when it comes to serving cannabis businesses until the bipartisan measure is approved, as these institutions may still be penalized. Last year we saw a consistent and substantial decrease in the number of credit unions and banks that revealed that they were serving cannabis businesses.

In its latest report on marijuana banking data, the Financial Crimes Enforcement Network revealed that the reductions recorded in the number of financial institutions that were actively offering banking services to cannabis businesses in the short term could be explained by filers exceeding the 90-day filing timeframe for reports on suspicious activity. Previous reports from the agency note that it stopped including businesses that dealt with hemp in its reports since hemp was legalized in 2018 under the farm bill. The agency, which is part of the Department of Treasury, did not mention the possible impact of the COVID-19 pandemic on trends in cannabis banking in its latest report.

The SAFE Banking ACT has been approved in the House six times. However, it has stalled in the Senate under both Democratic and Republican control. Chuck Schumer, the Senate Majority Leader, recently signaled that he would be open to approving the banking measure if provisions on equity were included. The sponsor of this comprehensive reform, Rep. Ed Perlmutter, has also revealed that he was confident that the measure would finally receive approval during this session. Perlmutter is set to retire at the end of this current session.

As more banks open their doors to legitimate cannabis companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), the industry will have fewer challenges with regards to basic banking services, and their operations will be eased somewhat, especially when one considers how cash-only businesses are vulnerable to robbery and other related risks.

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

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 — Poll Reveals More Americans Prefer Marijuana Consumption to Alcohol

According to a YouGov survey, many Americans prefer that people switch their consumption preference from alcohol to marijuana. The survey was conducted in February 20200, and it relied on responses from 10,412 Americans.

According to the poll, 27% of the respondents agreed with the idea of people substituting marijuana for alcohol while 20% disagreed. Meanwhile, the majority — some 38% — replied that it was neither good nor bad while the remaining 15% were unsure.

Several studies have been done in the past to compare the pros and cons of marijuana to those of alcohol. Proponents have indicated the long-term negative impact that alcohol has on health, which includes death from alcohol poisoning. According to the Centers for Disease Control and Prevention (“CDC”), despite alcohol being legal in all states it is responsible for 88,000 deaths.

In comparison to marijuana; the Drug Enforcement Agency (“DEA”) has not recorded death related to the drug’s overdose. Generally, marijuana has lesser risks associated with it, and the plant’s constituents have been found to have a positive impact on improving certain health conditions.

The demographic analysis of the survey indicated that Democrats were less hesitant to switch from alcohol to marijuana. An estimated 34% of respondents said that the switch was good compared to 18% of Republicans and Independents accounting for 27%. It was also found that individuals who were between 30 and 34 were most likely to agree with the substitution; 17% of those above 65 shared the same sentiments.

There is a change in mindset as the public becomes more comfortable with the recreational use of marijuana. According to Mikayla Bell, the community outreach manager at NETA, which is Massachusetts’ biggest marijuana retailer, people are turning to marijuana for relief. She added that the substances do not have the calories and hangover associated with alcohol.

In addition to the shift in mindset, states where marijuana is legal for adult use are experiencing a trend of booming sales and tax revenue. According to available data, Massachusetts recorded that it had collected more tax revenue from marijuana than alcohol at the halfway point of the financial year. It collected $51.3 million from alcohol and $74.2 million from marijuana.

Meanwhile, marijuana sales in Illinois totaled more than $1.9 billion since the state legalized the drug in January 2020. The tax revenue collected by the state last year on marijuana was $100 million more than that of alcohol.

Also, a 2019 study by the University of Oregon found that alcohol-related accidents reduced once the adjacent Washington state legalized marijuana.

As more Americans wake up to the benefits that legally sourced marijuana has over other substances such as alcohol, sector firms such as American Cannabis Partners will have a bigger client base to serve as the years go by.

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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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) Acquisition Expected to Provide Significant Growth Acceleration

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, recently acquired JustCBD, a market leader in the consumable cannabinoid market. The acquisition is expected to provide meaningful growth acceleration and deliver human capital to the Flora organization and strengthen its foothold in the U.S. wellness market. In addition, there is significant opportunity to leverage Flora’s economically-advantaged cultivation to support expansion of the JustCBD brand across the global market. Roth served as exclusive financial advisor to JustCBD on the transaction.

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

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that is 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 its diverse business divisions of cosmetics, hemp textiles, and food and beverage. For more information, visit the company’s website at 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

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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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