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 — 2022 May Be Great Year for Pharmaceutical Cannabis

Last year was a good year for the recreational and medical marijuana industry, with major pharmaceutical companies entering the medical space. Many believe that this year will be even better for pharmaceutical marijuana, given the strides the industry has taken.

For instance, huge pharmaceutical marijuana mergers and acquisitions deals were sealed last year, including GW Pharmaceuticals’ acquisition by Jazz Pharmaceuticals. which was valued at $7.2 billion. Pfizer also entered into an arrangement to purchase Arena Pharmaceuticals for $6.7 billion while Dermapharma Holding SE purchased C3, Canopy Growth’s subsidiary for about $93 million dollars. In addition to this, Teva Pharmaceuticals also entered into a distribution deal with Cannbit-Tikun Olam.

Companies involved in the recreational marijuana industry also pivoted toward pharmaceutical marijuana applications, with Curaleaf purchasing Emmac Life Sciences in a $286-million-dollar arrangement. Major players such as Tilray-Aphria and Aurora also pivoted toward pharmaceutical cannabis, with most Canadian marijuana firms and multistate operators also recording significant growth in the recreational cannabis market. Even Philip Morris International, a multinational tobacco and cigarette manufacturing company, has shown interest in the pharmaceutical market side with investments such as Syqe Medical.

Additionally, Big Alcohol and Big Tobacco have signaled operational interest in the adult-use market in moves such as British American Tobacco investing in Organigram Holdings and Constellation Brands investing in Canopy Growth.

Towards the end of 2020, the United Nations voted to reclassify marijuana, which enabled cannabis pharmaceuticals to enter the global space. Currently, the potential use for marijuana in pharmaceutical applications is a primary driver for legalization in Europe and is accepted in most parts of the globe now.

Recreational marijuana has also swept through most of South and North America, with some rumblings in Switzerland, Portugal, Malta, Luxembourg and Germany in the European Union. Europe is currently demonstrating the most advancement in pharmaceutical marijuana while Canada and the United States dominate sales in the recreational marijuana market, making up about 80% of the global revenue in the market. However, it has yet to be decided whether medical marijuana applications will become accepted internationally as tested and registered pharmaceuticals that physicians across the globe can prescribe.

The policies imposed on marijuana also present hurdles for the recreational and medical marijuana markets that need to be dealt with, both in the U.S. as well as globally. Despite this, 2022 may be a good year for the marijuana industry as more nations as well as states in the U.S. advance reform policies and pharmaceutical firms make more advancements.

As cannabis pharmaceutical companies grow their footprint in the sector, other industry companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are consolidating their positions in the different states where they have operations as the industry awaits federal marijuana policy reforms.

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 — New Report Shows That Marijuana Legalization Hasn’t Caused Increase in Use Among Youth

Last week, the Coalition for Cannabis Policy, Education and Regulation released a report showing that the legalization of marijuana at the state-level didn’t lead to an increase in consumption among the youth. The analysis provides insights on various methods of prevention and points to studies which refute claims that the establishment of regulated marijuana markets would lead to an increase in the number of underage individuals consuming cannabis. Such claims have often been made by marijuana prohibitionists.

The tobacco and alcohol industry-backed cannabis policy group has many members, including Constellation Brands, Molson Coors Beverage Company, the Council of Insurance Agents & Brokers, the National Association of Convenience Stores, Brink’s Company and Altria Client Services. The group is cochaired by Greg Walden, a former Oregon representative, and Tom Daschle, the former Senate Majority Leader, neither of whom cosponsored or sponsored measures to legalize cannabis while in Congress.

The new report also highlights researchers’ findings showing that the use of cannabis among youth either remained unchanged or reduced in regulated marijuana markets. These findings are supported by data from recently conducted federal surveys, with one survey finding that the use of cannabis and overall consumption of illicit substances among youth actually decreased significantly in 2021.

The Coalition for Cannabis Policy, Education and Regulation’s evidence from its reports also showed that increased exposure to science-based, community-driven, after-school programming, access to research and government guidance discouraged the underage use of cannabis. The group also argued that establishing regulated marijuana markets could reduce the use of drugs among the youth by undermining the illicit market, where age limits and IDs weren’t imposed.

In addition to this, the group explained that local communities needed to be at the core of efforts to decrease the use and misuse of marijuana among the youth, noting that community approaches needed to be driven by science and data to continuously adapt to changes. The coalition then asserted that federal regulatory systems needed to include policies to finance community systems and ensure that the necessary resources were available.

The group released its report ahead of an event it plans to host soon that will focus on youth prevention. The event will feature Sen. John Hickenlooper, who was the serving governor of Colorado at the time of the state’s vote to legalize adult-use cannabis about a decade ago. Despite opposing it at the time, Hickenlooper oversaw the program’s implementation and has since come around to supporting reform.

Statistics showing that underage use of cannabis actually declines once a state legalizes the herb backs what marijuana industry players such as Flora Growth Corp. (NASDAQ: FLGC) have always believed that cannabis legalization triggers a positive domino effect on various aspects of society.

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

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420 with CNW — Debates Arise Over How States Can Spend Millions from Marijuana Taxes

Cannabis has been one of the fastest-growing industries in the country for the past couple of years bringing in billions of dollars in sales and tax revenue. Over the pandemic, cannabis sellers saw month-over-month sales records while other sectors stagnated.

Over the course of 2021, states with legal marijuana markets generated more than $3 billion in tax revenue from cannabis sales. A Marijuana Policy Project report shows that this is a slight improvement over the $2.7 billion states collected in 2020.

States with legal cannabis markets are now debating how to spend the taxes raised from the sale of this controversial plant. In the past few years, a couple of states have tried to pass laws that would direct a portion of cannabis taxes to programs designed to aid communities that had been disproportionately impacted by the drug war.

This includes granting members from these communities first access to marijuana business licenses. States such as Illinois and California, which have the largest legal cannabis markets in the country, have dedicated some cannabis taxes to programs that fund police departments and attempt to repair the harms of drug arrests.

According to an analysis by NBC News, Illinois has spent the most marijuana tax revenue on programs meant to alleviate the effects of the decades’ long war on drugs. Oregon has also invested cannabis dollars in increasing public access to substance-abuse treatment programs as well as harm reduction programs. The state has also passed legislation that will support disproportionately underserved communities. On the other hand, states such as Michigan and Maine have chosen to pay for infrastructure, including roads, or fill their general funds with cannabis taxes.

State general funds received the most cannabis taxes last year ($494 million) followed by education ($405 million), state police departments and public safety ($172 million). Social equity programs meant to help communities that were most affected by drug arrests got a paltry 2% ($47 million).

New York, Illinois, Virginia and New Jersey have been adding programs designed to address the harm drug arrests cause on society. President and CEO of the Marijuana Policy Project Toi Hutchinson says such programs are beneficial because they reduce the toll drug arrests have on these marginalized communities.

In a bid to compete with the roaring black market and reduce entry barriers for entrepreneurs from minority communities, stakeholders in California’s marijuana industry are pushing for lower taxes. However, child advocacy groups argue that this would eat into the funds dedicated to community reinvestment grants.

In Virginia, Republicans unsuccessfully tried to get rid of provisions that earmark some cannabis taxes to programs meant to aid disenfranchised communities and provide loans to businesses run by minorities.

All these discussions about how best to utilize the taxes generated from the marijuana industry show that licensed companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) are making a vital contribution to the communities in which they operate.

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

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420 with CNW — Canada Introduces Proposal to Increase Marijuana Beverage Purchase Limits

As the cannabis industry matures, the cannabis-infused beverage segment is expected to offer fierce competition to other types of cannabis products. Market experts project that the segment will grow at a compound annual growth rate of 16% to achieve a valuation of $2 billion by 2026.

Canada, which first allowed the production and sale of cannabis beverages in late 2019, has proposed a policy change that would allow consumers to purchase more cannabis beverages at one time. The federal government has asked for public comments regarding a proposed change in cannabis regulation that would increase the number of cannabis beverages consumers are allowed to purchase at a time eightfold.

At the moment, the country’s equivalency rates allow individuals to possess up to 30 grams of cannabis flower but only about two liters of marijuana-infused beverages in public. According to Health Canada, the equivalency rates place limits on the possession and sale of cannabis-infused beverages that other classes of cannabis products don’t have to deal with.

The proposal plans to increase the possession limit for marijuana beverages from 2.1 liters to roughly 17 liters. This will increase the quantity of marijuana beverage equivalent to one gram of dried cannabis flower. However, the proposed rules will not change the country’s cap of 10 mg of THC per container.

The proposed rules have been met with praise by large producers involved in the industry that have spent the past couple of years talking about cannabis’s potential medical benefits.

For example, the Cannabis Council of Canada stated that the proposed changes were timely and would eliminate the error caused by the country’s equivalency rates. The council also noted that the changes would also allow adult Canadians to indulge in a wider variety of products. The business group’s head, George Smitherman, clarified that the proposed rules originated from consultations launched back in December 2020 and were not part of a mandatory review of the original cannabis legislation passed in 2018.

However, not everyone is happy with the proposed changes. Quanta Consulting president Mitchell Osak stated that the proposed rule changes were underwhelming and wouldn’t affect most of the market. Despite this, it is a small step in the right direction, especially since these beverages barely make up 2% of the country’s overall marijuana market. Furthermore, cannabis beverage sales in 2021 paled in comparison to industry experts’ projections.

Figures show that between January and September 2021, only $39.4 million worth of cannabis beverages were sold in the market, which is quite small, especially if one compares this to the $500 million market projection made by Deloitte.

As the rules around cannabis beverage sales continue to evolve, companies such as Flora Growth Corp. (NASDAQ: FLGC) could have a better chance to attract new customers who would like the social aspects of drinking without the adverse effects, including a hangover.

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

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420 with CNW — French Government Announces Decree Allowing Growing of Medical Marijuana

Last month, the French government issued a decree that allowed the growing of medical marijuana and development of the industry. The enactment took effect on March 1, 2022; however, it awaits implementation by regulators.

The act features conditions and procedures for the growth and production of medical cannabis. It has also amended some clauses in the Code of Public Health to permit cultivation, production, processing, transport, possession, import and export of cannabis and its components under medical mandate.

The development of the medicinal cannabis supply chain will be overseen by the National Agency for the Safety of Medicines and Health Products (ANSM). The agency has also created a committee of 11 members who will canvas several aspects of the supply chain. This includes identification of cannabis strains available for medical use, THC and CBD levels, track and trace systems, and consumption method of cannabis medicines as well as the pharmaceutical quality criteria.

The decree comes after a medical marijuana pilot project was launched last year targeting almost 3,000 patients with severe conditions such as chronic pain and epilepsy. The pilot program is still under operation and is supervised by the ANSM until next March. The country imported medical marijuana from overseas for the program. However, it is unclear if non-French companies will have any opportunity for involvement in the industry that the agency is developing. Under the act, the development of the cannabis industry will be influenced by the pharmaceutical industry and the medical certified supply chain.

With ANSM being the only operator, experts are concerned that the country might develop a limited market. This is because the agency might select a select number of producers for the production of medical marijuana and thus limit access. This is a similar to what happened in Italy, which relies on imports because of a lack of domestic production.

Despite having the highest consumption rates of cannabis in Europe, France has one of the strictest policies. Cannabis possession attracts a $233 on-the-spot fine. Illicit imports, exports, supply and demand attract higher penalties. Patients are also affected by the restrictions. In 2013, the country allowed access to cannabis derivatives only when other medications failed to improve the patient’s health. Although the country is the biggest producer of hemp in the European Union, the majority of the plants are grown for industrial purposes.

CBD is legal when it does not have any THC, and the sale of CBD has led to the flourishing of CBD shops. However, in recent years, the sale of CBD flower has been a point of political concern because it is unregulated. This has led to courts targeting the shops. In 2020, for instance, a court ruled that France’s ban on CBD products was not legal because CBD is fit for human consumption.

Last year, the government tried to reintroduce the ban. A French court maintained the illegality of the move stating that flower products have a THC level that is less than 0.3%. Therefore, the threshold made it possible for them to be sold legally.

As countries around the world, including France, begin to enact cannabis reforms, there is hope that major powers such as the United States could also change their prohibitionist stance eventually so that licensed companies, including Cannabis Strategic Ventures Inc. (OTC: NUGS), can operate freely at a national level rather than having to navigate a patchwork of state laws.

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

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) Engages IBN for Corporate Communications Expertise

Advanced Container Technologies (OTC: ACTX), the exclusive U.S. distributor of automated indoor “micro-farms” called Grow Pods and related equipment and supplies, today announced that it has selected the corporate communications expertise of IBN (InvestorBrandNetwork), a multifaceted financial news and publishing company for private and public entities. As part of the relationship, IBN will leverage its investor based distribution network of 5,000+ key syndication outlets, various newsletters, social media channels, wire services via InvestorWire, blogs and additional outreach tools to generate greater awareness for Advanced Container Technologies. “The USDA has stated that vertical farming practices utilizing indoor micro-farms are no longer ‘futuristic’ concepts, and Advanced Container Technologies is capitalizing on this growing opportunity through its distribution of Grow Pods,” said IBN Director of Client Solutions Chris Johnson. “We’re excited to customize our comprehensive suite of corporate communications solutions for the company as it explores a possible acquisition of GP Solutions and continues to refine and commercialize its line of Medtainer containers.”

To view the full press release, visit https://cnw.fm/9tWpF

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.

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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Premiere Cannabis Concentrate Brand to be Distributed in California

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company, has announced that Summit Boys, its premiere cannabis concentrate brand, will be available in the state of California through an agreement with Greenline Distribution of Monterey County, California. According to the announcement, Greenline is an award-winning cannabis cultivator and distributor, and is the creator of its own super-potent Orange Tree and Bananimal cannabis strains. “We are pleased that Grapefruit has partnered with Greenline to secure full-service distribution for its Summit Boys brand in California,” said Grapefruit CEO and cofounder Bradley J. Yourist in the press release. “The highly experienced Summit Boys sales team provides hands-on service to Grapefruit retailers and is excited to distribute our new Summit Boys high-end concentrates, which include, vanilla runtz diamonds, sweeties live sugar, sundae driver, wedding cake live badders and snowcap diamond sauce. We look forward to working with Greenline over the coming months to manufacture and distribute new and innovative Summit Boys concentrates.”

To view the full press release, visit https://cnw.fm/YiDB9

About Grapefruit USA Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, California. To find out more about the company, please visit https://GrapefruitBlvd.com.

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) New Brand Partners with Greenyard to Expand into Europe

Flora Growth’s (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has announced that its recently acquired JustCBD brand is planning to open four brick-and-mortar locations in 2022 in the Czech Republic and Germany, with an additional 50 store openings planned in 2023. The company is partnering with German-based Greenyard to manage the new retail locations, which are under construction with planned openings in Q2 2022. Flora Growth anticipates additional growth throughout Europe moving forward. According to the announcement, the new stores will offer JustCBD’s complete product line, including gummies, tinctures, vape cartridges, creams, pet wellness, and more. FLGC also plans to distribute JustCBD products throughout Germany, the Czech Republic, Poland, Austria, Switzerland, Ukraine, Georgia and Estonia through different distribution methods other than the new retail locations. “As a leading wellness brand in the United States, we believe the quality of JustCBD’s sought-after products will result in strong demand in the European market,” said JustCBD founder Hussein Rakine in the press release. “This inaugural European expansion is expected to be the first of many initiatives in a broader international growth strategy. We couldn’t be more excited about launching this partnership with Greenyard and are honored to bring our quality wellness products to the European market.”

To view the full press release, visit https://cnw.fm/3FqnC

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.

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420 with CNW — VA Suicide Prevention Program Will Not Include Cannabis Treatment

Medical cannabis use among veterans has been a hot topic since states first started legalizing marijuana for medical use. While drug-reform proponents believe the plant has the potential to help veterans deal with chronic pain and mood disorders such as anxiety and post-traumatic stress disorder, others say it is federally prohibited for good reasons, with one being that it is a gateway drug with no medical application. This is despite research debunking this reason on numerous occasions.

The latter opinion seems to be shared by the U.S. Department of Veteran Affairs (VA), the government body in charge of administrating benefit programs for military veterans and their families. The agency, which prohibits veterans from using medical marijuana at all VA centers, has released a statement noting that it will not support medical marijuana treatments for veterans as part of a new suicide-prevention grants program, which will offer eligible veterans suicide-prevention services.

Due to the nature of war and what continued exposure to high levels of stress does to the human psyche, army veterans have a much higher suicide rate compared to the rest of the population. Additionally, a study conducted in 2017 also found that veterans with substance-abuse disorders had a heightened risk of suicide compared to veterans without a substance-use disorder.

Plenty of veterans and the service organizations that represent them state that cannabis possesses various benefits. Many have admitted that marijuana has the potential to alleviate various medical conditions that are common within the veteran community, including mood disorders. Despite these testimonies and existing research, the VA still prohibits the use of medical cannabis among former military members. Since it is a federal agency, it is legally required to use treatment practices and approaches that are consistent with federal law.

The VA noted that since cannabis was still classified as a Schedule I controlled substance, which means that it has no recognized medical applications, it could not legally provide support for treatments that involve the use of marijuana.

This classification has been a constant thorn in the side of drug-reform advocates and veteran-service organizations. Federal prohibition has significantly held back cannabis research and has, as a result, made it even harder for researchers to learn more about the potential benefits and side effects of this herb.

Still, veteran service organizations continue to advocate for more research into cannabis on the grounds that military veterans stand to benefit from these alternative treatments manufactured from the cannabis plant by state-legal entities such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF).

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420 with CNW — Federal Report Lists Frequency of Cannabis Drug Tests Across Different Sectors

Last month, the U.S. Bureau of Labor Statistics (BLS) released a labor report that documented drug-testing rates across various industries. Data from the federal report revealed that for the first time in 25 years, workers were asked about the frequency of workplace drug tests. It revealed that drug testing had dropped and some workplaces had either removed or delayed testing their workers for drugs during the COVID-19 pandemic.

In the past 25 years, medical marijuana has been legalized in almost three-quarters of all U.S. states while the adult use of marijuana is allowed in one-third of the states. Eighty percent of the states where marijuana is legal recorded the lowest establishment drug testing.

The report points out that fewer drug tests have been administered in states where marijuana is legal. Workers in transportation, warehousing and other safety-sensitive industries experience more frequent tests. According to the survey, more than one-half of the establishments in those industries carried out drug tests in contrast to workers in industries such as the arts, recreation, finance, education and hospitality, which have fewer tests.

In a 1996 survey, 30% of the workers were tested for drugs and 14% for alcohol. The numbers appear to have decreased in the latest survey with 16% of the workers saying that they were tested for either drugs and/or alcohol.

The new survey was done online and sent to more than 300,000 business establishments. It included questions that asked about alcohol testing and whether workplaces were testing applicants and workers during the pandemic. According to Michael Dalton, a BLS research economist, the questions were included after media reports highlighted that companies had suspended their drug-testing mandates. The report found that only 2% of workplaces had suspended testing while 7.9% suspended testing but still tested current employees and applicants.

Across industries, the utilities sector experienced the highest reduction of establishment drug screening during the pandemic. However, the industry has not completely scrapped testing. Across company sizes, smaller companies carried out fewer screenings. An estimated 12.9% of companies with fewer than 20 workers carried out regular tests. Meanwhile, the number grows with companies with 100 to 500 employees (56.7%) and those with more than 500 employees (69.9%).

It remains unclear whether the decrease in drug screenings will persist in the future. Dalton stated that work changes resulting from COVID might disappear or have a complete turnaround. For example, 20% of establishments are looking to increase remote work in the future. As more employees start working remotely and drug testing reduces, chances are high that more people will feel freer to consume marijuana products from state-legal sources such as American Cannabis Partners.

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