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 — Wells Fargo Blames Shortage of Truck Drivers on Federal Cannabis Prohibition, Drug Testing

During a recent conference call, Wells Fargo Securities head of equity strategy Chris Harvey stated that federal cannabis criminalization plus the resulting mandates for drug testing have caused the worker shortages and increasing costs being observed in the transportation sector.

He addressed this issue during the call, highlighting the challenges linked to marijuana testing within the trucking sector. Harvey explained that trucker costs, transportation costs and logistics were all increasing, noting this trend would persist for a while as drug testing was implemented in different states.

Federal transportation regulations state that safety-sensitive roles require drug-testing policies. However, while opponents of marijuana legalization and advocates are in agreement that no person should be operating a vehicle when intoxicated, they also note that THC metabolites can easily be detected inside an individual’s system even weeks after they consumed cannabis. Harvey explained that this mandate excluded a considerable portion of the trucker industry, which would make the tight market much tighter.

This is backed up by data released by the New York Post last year, which showed that since January 2020, more than 72,000 heavy truck drivers lost their jobs or licenses because of failing THC tests. The correlation between cannabis policy and workforce shortages has also been highlighted by a congressman who recently suggested that federally legalizing cannabis would resolve the staffing issues at the U.S. Postal Service and prevent government employees from losing their employment.

Strict testing policies for drugs in various government agencies and the federal prohibition of cannabis have had a negative effect on jobs, hindering individuals who are qualified from submitting applications for specific job opportunities and increasing the risk of others losing their jobs if they use a cannabis product.

Many hope that this will soon change if cannabis is legalized, because several agencies updated their employment policies after hemp was federally legalized. This employment issue affects the government as well as private industry, and has prompted some major firms in America to reconsider their policies for drug testing as more states across the country legalize the use of cannabis for recreational and/or medical use.

Companies such as Amazon have begun changing their cannabis policies internally; Amazon recently enacted a policy change in employment that would eliminate the need for pre-employment cannabis drug testing for the greater fraction of its workers. The change in policy also states that the company will no longer focus on cannabis in its comprehensive drug screening program for positions that aren’t overseen by the transportation department.

As more companies revise their workplace drug-testing rules, more people will be less apprehensive about using the cannabis products made by licensed manufacturers such as Cannabis Strategic Ventures Inc. (OTC: NUGS) since there will be no risk of jeopardizing their employment.

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 – Lexaria Bioscience Corp. (NASDAQ: LEXX) Optimistic of Positive Study Results, Eyes ‘Most Exciting Year Ever’

Lexaria Bioscience Corp. (NASDAQ: LEXX) achieved myriad milestones in 2021, with CEO Chris Bunka noting in an annual letter to shareholders that January 2021 marked the birth of a modern version of the company. A recent article contains excerpts from the letter, in which Bunka writes, “During 2021, we completed research & development (‘R&D’) and validating work equal to or greater than all the combined amount previously completed since 2018! We have conducted studies across broad areas of interest but also concentrated in specific areas where we have supportive data,” In 2021, Lexaria’s most significant area of investigation was DehydraTECH(TM)-processed cannabidiol (“CBD”) for the potential treatment of hypertension and heart disease. And starting in April or possibly sooner, the company plans to begin dosing in its largest-ever hypertension study. Before this spring, Lexaria also plans to launch a complex animal study evaluating DehydraTECH-CBD as a potential treatment to inhibit seizure activity. The company will also pursue efficacy modeling through 2022 with DehydraTECH-CBD in animals for other possible therapeutic indications, in addition to launching a human study evaluating DehydraTECH’s ability to promote nicotine delivery characteristics in oral tissue. “The goal of our three major studies is to generate sufficient data to support either regulated IND-type applications or to stimulate corporate partnering within their appropriate market sectors. We are optimistic of positive results — noting that science can be unpredictable — and, if so, expect 2022 to be our most exciting year ever!”

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

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 and, in some instances with cannabinoids by as much as 27x compared to standard industry formulations, reduce time of onset from one to two hours to minutes, and mask unwanted tastes. The technology is also being evaluated for orally administered anti-viral drugs, non-steroidal anti-inflammatory drugs (“NSAIDs”), PDE5 inhibitors 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 23 patents granted and over 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

About CannabisNewsWire

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

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Appoints Jessie Casner as CMO to Guide Multinational Marketing Campaign Objectives

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, continues to strengthen its executive bench with the appointment of Jessie Casner as the company’s chief marketing officer. Casner joins Flora from the recently acquired Vessel brand, where she served as vice president of sales and marketing. Casner’s experience in brand marketing will assist in driving the rapid growth of Flora’s core CPG brands, including Vessel, Tonino Lamborghini, Mind Naturals, Stardog, and others. “I’m excited to welcome Jessie Casner as our chief marketing officer,” said Luis Merchan, CEO of Flora Growth. “This appointment is another example of our commitment to invest in human capital at all levels of the organization. Jessie’s expertise in go-to-market strategy and consumer marketing make her the right choice to guide our multinational marketing campaign objectives for both Flora and our growing portfolio of brands.”

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

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 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

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420 with CNW — New Study Reveals Benefits of Hemp Extract on Sleep Quality, Stress Management

A study using Charlotte’s Web Original Formula shows the positive effect of hemp extract products on managing stress and improving sleep quality. Charlotte’s Web is well known for producing CBD oils, tinctures, capsules gummies, capsules and pet products made with hemp extracts.

The company was part of the Radicle ACES (Advancing CBD Education and Science) study organized by Radicle Science, a health company that validates health and wellness products. The study relied on data from U.S.-based participants who used Charlotte’s Web Original Formula. The participants would use the product for four weeks and would be tracked for key health outcomes including quality of life, general well-being, feeling of daily stress and discomfort levels.

The researchers used standardized scientific methods for analyzing their findings. According to Tim Orr, president of Charlotte’s Web Labs, the company relies on science, which is why it took part in the study. He also said that the company’s involvement with a third-party researcher to report on the effective nature of its wellness product would build long-term trust between the company and the consumer.

Tens of millions of Americans use CBD products every day. Therefore, according to Jeff Chenm, cofounder of Radical Science, the use of science to prove the effectiveness of cannabidiol products should help in creating trust and transparency within the industry.

Findings from the study confirmed the benefits of the hemp extracts found in Charlotte’s Web products. The study revealed that people who took Charlotte Web’s Original Formula noticed a distinctive improvement in their well-being and quality of life. Many of the respondents also noticed an improvement in the quality of sleep and feelings of daily stress in comparison to before they started taking the products. On average, significant improvements were noted in participants in comparison to control group participants, who did not use any hemp extract.

An estimated 64% of the participants with stress symptoms noticed clinically meaningful improvements after taking Charlotte Web’s Original Formula in comparison to 22% of the control group members. In comparison to 15% of the members of the control group, 60% of participants with sleep issues noted a clinically meaningful improvement in their quality of sleep.

Using the World Health Organization Well Being Index for assessment, participants who used Charlotte Web’s Original Formula experienced a 74% significant improvement.

Moreover, the study also revealed that the company’s products were tied to significant improvements within one week of use. According to company CEO Jacques Tortoroli, the research contributed to increasing trust on the safety and effectiveness of hemp by providing transparency to consumers, regulators and healthcare providers.

These research findings are good for the sector in general and industry players such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) in particular because there is a growing body of verifiable data showing that consumers can enjoy therapeutic benefits when they use various cannabis products.

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 — Studies Find That Cannabis May Help with COVID-19 Recovery

New research has shown how cannabinoids may be helpful in post-COVID recovery.

Surviving the deadly coronavirus is not easy. In most cases, the virus damages the body in ways that can be felt even after an individual tests negative. The most common symptoms of the coronavirus include shortness of breath, colds, fever and a dry cough. The severity and duration of symptoms is different for every individual; some will experience the symptoms for a much longer period. Other symptoms include difficulty breathing, fatigue, stomach pains, chest pains, muscle pain, brain fog, heart palpitations and headaches.

The primary compounds found in cannabis, such as CBD (cannabidiol) and THC (tetrahydrocannabinol), have shown promise in earlier studies for treating and preventing the coronavirus. The studies have found that these compounds also help patients recover quickly.

One of these studies found that CBD and CVN (cannabivarin), which is another cannabinoid found in the cannabis plant, can treat long COVID. The researchers discovered that when CVN and CBD were administered simultaneously, they helped down-regulate proteins such as IL-6, NRP1, TSP and ACE2, which the coronavirus damages or upregulates during infection.

A separate study carried out by Rabin Medical Center researchers conducted an analysis of CBD’s impact on 11 patients with severe coronavirus infections. Eight of these patients recorded improvements in their infections. However, more studies with a bigger group of participants are needed to support these findings. Dr. Iliya Kagan, who is in charge of the ICU unit at Rabin Medical Center, explained that health-care providers saw a decrease in signs of the coronavirus infection after cannabis oil was administered.

Another study conducted in the Klagenfurt Hospital that involved physicians using marijuana to treat patients with the coronavirus also indicated that CBD was a promising treatment. This is the only hospital in Austria that uses CBD to treat patients with coronavirus infections. Dr. Rudolf Likar, who was a part of this study, stated that they administered CBD to 50 patients and noted a drop in levels of infection.

For their study, the doctors administered 200mg of cannabidiol to patients in the intensive care unit, then upped the dosage to 300mg after a period of time. They discovered that patients who received cannabidiol healed from this deadly infection much faster than those who received other medications. The researchers theorize that CBD could help boost the immune system because of its anti-inflammatory compounds; they do indicate that more research needs to be done to confirm the findings.

Such research suggests that users of cannabis products made by companies such as American Cannabis Partners may be deriving wellness benefits that are yet to be fully documented.

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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420 with CNW — WADA Announces Intention to Review Stance on Marijuana Ban

The World Anti-Doping Agency (“WADA”) will reassess its stance on whether marijuana should remain on the prohibited list. This comes after the incident where American runner Sha’Carri Richardson was forced to pull out of the Tokyo Olympic Games. During the U.S. Olympic Trials, Richardson’s 100 meters win was cut short after it was revealed that she had tested positive for cannabis. This led to her disqualification; she was also banned from competing for 30 days.

Whether cannabis has a positive effect on an athlete is being challenged by the German Institute for Biochemistry. According to the institute, cannabis does not improve an athlete’s performance; however, its use could lead to further risky behavior within certain sports.

WADA said that the executive committee supported the resolutions from the List Expert Advisory Group to conduct a scientific review on cannabis this year. This was after a number of stakeholders issued requests to review the status of cannabis on the list. However, the body clarified that cannabis is still prohibited in competitions held this year.

Dr Peter Brukner, a researcher as well as a sports physician, has spent the last year studying medical cannabis. He said that there is no evidence that marijuana enhances the performance of an athlete; in fact, he says, it is “performance limiting.” Brukner believes the reason why the substance is banned is because of the legality issues surrounding it. This year, the doctor will be conducting clinical trials at La Trobe University to see whether medical cannabis is effective for pain relief and can be incorporated into the treatment for athletes.

At this year’s Winter Olympics, Kamila Valieva, a figure skater representing Russia, tested positive for the heart drug trimetazidine and was still allowed to compete in the Beijing games. The 15-year-old won gold in the team competition, and Sha’Carri Richardson questioned the double standard as to Valieva was still allowed to compete despite having a doping charge.

During the ruling, the Court of Arbitration for Sport said that Valieva was not cleared, which means that there is a possibility that her awards could be stripped and that her submission to different rules is because she was judged as a minor and not an adult athlete.

Other leagues have recently been revising their policies on marijuana use. On Feb. 1, 2022, the NFL issued a $1 million research grant to look into marijuana’s effectiveness in pain management. Last year, the NBA stopped subjecting its players to THC tests and stated that it would only intervene in cases where there was a present history of abuse. In 2019, the MLB removed marijuana from its list of banned substances but will continue to prohibit its players from getting into contracts with cannabis businesses such as Cannabis Strategic Ventures Inc. (OTC: NUGS) regardless of their legality in the jurisdictions where 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 — PanXchange Launches Industrial Hemp Trading Platform

Earlier this week, PanXchange launched its industrial hemp trading platform, which is open to qualified CPG manufacturers, processors, growers and trade houses, waiving commissions and registration fees. PanXchange has created buyer-approved methodologies that are inclusive of farmers, both small and large. The platform is focused on creating benchmark pricing for improved risk management and physical commodity trading markets.

PanXchange CEO Julie Lerner explained that since the legalization of hemp, the growth of the hemp industry has suffered greatly because of competition, overproduction, stigma in mainstream agriculture and subsequent mergers and acquisitions, which wasn’t helped by the coronavirus pandemic. Lerner added that the platform was launched to help support the community as the company believed in the crop’s future as an industrial product, which is why it opted to waive commissions and registration on all semiprocessed fiber and cannabinoid trading. This free trading decision complements the company’s grassland and cropland carbon credit program.

Hemp is a carbon-friendly commodity that sequesters carbon found in the soil. Studies have found that this crop can trap 200% more carbon annually than eucalypt trees. It can also be used as an ecofriendly substitute in products such as bioplastics, building materials and hempcrete.

Lerner also explained that most programs available to farmers currently were prohibitive and costly, noting that farmers needed to be financially remunerated for using smarter farming practices. Their program, she added, provided a viable solution. The company’s hemp platform provides a centralized and user-friendly marketplace where parties can trade and source hemp cannabinoids as well as a variety of other industrial hemp products.

The company’s director of hemp Seth Boone stated that opening the market also offered the company more opportunities to build liquidity. He explained that the platform was synonymous with a cash market, which was where industry stakeholders went to manage last-minute issues with supply chains, seek short-term opportunities and observe current prices. Boone noted that negotiating a long-term contract with a counterpart involved having confidence in the price.

The PanXchange hemp platform serves as a resource for stakeholders to extend their supply chain networks and will help facilitate the full commercialization of hemp in various sectors, including textiles, bioplastics and building materials.

While the company’s meticulous vetting process remains unchanged for new members, its interactive charts, in-depth fundamental analysis and monthly benchmark prices do require a subscription. PanXchange remains focused on developing the same grassland and cropland carbon credits, which offer its clientele better risk management and hedging.

If this exchange pans out as expected, it could eventually attract established players in the cannabis value chain such as Flora Growth Corp. (NASDAQ: FLGC) to source any additional biomass needed for their operations.

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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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) CEO Elected to Coachillin’ Canna-Business Park Board

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company, today announced that its Chief Executive Officer Bradley J. Yourist was elected to the Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park’s Property Owners Association Board of Directors (the “Board”) for a one-year term, effective immediately. Located 14 miles north of downtown Palm Springs, the 160-acre Coachillin’ Canna-Business Park is the first and largest cooperative canna-business compound of its kind. The landowners each own a proportionate interest in a collaborative owner’s association, allowing them to share much of the park overhead such as clean cultivation water, park security and access to agricultural power rates and, thereby, develop relatively low-cost economies of scale, providing a competitive advantage over independent cannabis operations. “It is an honor for me to have been elected to a one-year term as a member of the Board,” said Bradley J. Yourist, Grapefruit’s CEO and co-founder. “As a Board member, I will acquire a unique perspective on the rapidly evolving California cannabis industry and the progress of the Coachillin’ Canna-Business Park. I intend to refer innovative new cannabis industry participants to the Park over the next year. Of course, the Board seat will afford me the opportunity to advance Grapefruit’s initiative to build out our Coachillin’ ‘Mothership’ as quickly as possible.”

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

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, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs. For more information about the company and its operations, visit www.GrapefruitBlvd.com.

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420 with CNW — DEA Offers Help to Parents in Decoding Emojis Kids Use in Reference to Marijuana

A guide released by the U.S. Drug Enforcement Administration (DEA) reveals that people are buying and selling drugs on social media through emojis. The guide does not provide a thorough list of the emojis used, but it shows the efforts the agency is putting into monitoring discussions around the drug trade online.

The DEA launched this guide as part of a campaign known as “One Pill Can Kill.” The goal of the campaign is to prevent an increase in overdose deaths as well as create awareness about counterfeit prescription drugs to parents, educators, teachers, the press and community organizations. Last year, according to a report by ABC, the DEA confiscated more than 20 million fake pills. It is estimated that 40% of those had potentially lethal doses of fentanyl, the substance that is the cause for most overdose deaths.

Brian McNeal, the spokesman for the Detroit Field Division of the DEA, said that because of the design of counterfeit pills, neither the agency nor its agents can detect the drug’s harmfulness unless it is tested in a lab.

Emojis help in sending coded information between the buyer and the seller. Therefore, decoding emojis is a key part of the campaign because it helps the targeted parties be vigilant for signs of discussions on an illegal drug trade. According to McNeal, emojis also appear in short form videos on social media. The guide is designed to help parents and teachers gather insights that will assist them in mentoring the teens and young adults.

Some of the key takeaways from the findings include the fact that emojis are used to describe specific drugs from meth to marijuana as well as actions. For example, Percocet is represented by the P button emoji while cocaine can be referenced by the 8-ball emoji. The findings have also found that bombs and fire flame emojis are used to describe the drug’s potency level.

The discussions take place on a range of platforms. According to the DEA, Snapchat is the most used for such communication. Instagram comes in third place after Facebook Messenger.

The report, however, has missed out on highlighting the more common uses of emojis. For example, marijuana is represented by the Canadian maple leaf emoji or tree emoji and shrooms are represented by the mushroom emoji. In addition to these two, the gas container emoji, which indicates the potency level in marijuana, is missing as well as the eyeball emoji, which is used to show the trending product.

These efforts by the DEA are one way to ensure that any cannabis products made by licensed entities such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) never end up in the hands of underage consumers.

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420 with CNW — Latest Report Shows Record-Breaking 2021 Cannabis Sales in Colorado

Last week, the Department of Revenue in the state of Colorado released its cannabis sales figures for 2021, which show that the state broke another cannabis sales record last year as state officials reported more than $2.22 billion in marijuana purchases. The state’s 2020 sales record stood at $2.19 billion in cannabis purchases.

These latest figures also show that Colorado took in more than $423 million in tax revenue from adult-use and medical cannabis sales in 2021. Since the retail market was launched almost eight years ago, marijuana sales have surpassed $12 billion.

The department stated that the Cannabis Tax Reports show fee revenue and state tax collected every month as posted in the state’s accounting system. It explained that tax revenue was derived from the 15% state retail cannabis excise tax, which is imposed on transfers of retail cannabis/wholesale sales, the 15% state retail cannabis sales tax that is levied on retail cannabis sold in stores, and the 2.9% state sales tax imposed on cannabis sold in stores. The department also noted that fee revenue came from cannabis license and application fees.

Almost $500 million of marijuana tax revenue in the state has been used to support Colorado’s public school system. In 2021, Colorado raked in $423 million in cannabis tax dollars.

Other states are observing similar trends in increased tax and sales revenue as more states across the country legalize marijuana for medical and/or adult use. For instance, the state of Illinois has also recorded increases in its marijuana taxes, with figures showing that it collected roughly $100 million more from adult-use cannabis than alcohol last year.

Massachusetts state data released in January also shows that the state is collecting more tax revenue from cannabis than from alcohol. As of December 2021, Massachusetts had collected about $74 million from marijuana and $51 million from alcohol taxes, at the halfway point of the fiscal year. Overall, this state has recorded roughly $2.5 billion in adult-use cannabis purchases, since its market came online in 2018.

In Arizona, state officials reported in January that the state recorded more than $1.2 billion in marijuana purchases in the first eleven months of last year.

A report released by the Marijuana Policy Project shows that states which have legalized cannabis have collected more than $10 billion in marijuana tax revenue since licensed sales began in 2014. The report highlights that regulators in these adult-use states have been ensuring that the tax dollars are invested effectively. Those tax revenue statistics show that the marijuana industry together with its sector players such as American Cannabis Partners are living up to the expectation that the industry can be an instrumental factor in reviving or boosting economies.

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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