420 with CNW — Research Firm Plans to Study Use of Cannabis as Analgesic

CBD Science Group PLC plans to conduct large-scale trials to evaluate the use of cannabis in managing pain in cancer patients where conventional pain relief isn’t adequate. This will provide an alternative to opioids, which sometimes induce unwanted side effects or interfere with ongoing cancer treatments. Scientists at CBD plan to investigate the use of marijuana-based analgesics, with chief commercial officer Graeme McFarlane stating that the trials will measure the effectiveness and safety of these analgesics in addition to other variables.

McFarlane explained that the company would use various tools including clinician reporting and  self-reporting in patients in its evaluations. This is in addition to exploring the health economics of these medicines and evaluating the actual value of these natural medicines.

The company is planning to begin its research in second quarter 2022 after securing a strong supply chain that can meet its trial requirements. The company may have sufficient evidence to present to the regulatory bodies in the United Kingdom by Q2 2023.

McFarlane also stated that before CBD Science Group expanded to other centers in Europe and the United Kingdom, it would begin trials with 100 to 200 patients. He added that this was what was required for an effective strategy.

In addition to this, he explained that the company would not be conducting randomized controlled trials because the planned studies weren’t designed to use larger datasets, in addition to other factors. He noted that a drug performing well in clinical trials didn’t directly translate to it performing well in the real world.

The company expects to release outcome publications during its study period, with company officials noting that this approach will continue improving access for the many individuals suffering from various indications, in addition to offering a tool to educate clinicians.

At the moment, the company is crowd funding to finance early trials, with its objective being to raise £2 million ($2.74 million). In the long term, the CBD Science Group plans to approach the stock market to source for the capital it needs to develop and expand its business.

The company’s team is made up of the lead for cancer at the National Institute for Health Research Professor Sam Ahmedzai and former NHS England deputy medical director Professor Mike Bewick. The team is also comprised of renowned experts in anaesthetics, pharmacology and palliative care. CBD Science Group CEO Dr. Michael Raymont notes that the company’s strategy is unique and has been developed by experts who understand the regulatory framework and want the best for patients.

If this study yields positive outcomes regarding the analgesic attributes of marijuana, the entire cannabis sector including companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) will be vindicated in their conviction that the medicinal potential of cannabis is yet to be fully understood.

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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CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH(TM) Impacting the Pharmaceutical Industry

Lexaria Bioscience Corp. (NASDAQ: LEXX) has remained committed to enhancing the speed and overall efficiency of orally delivered fat-soluble active molecules. The company is leveraging its drug delivery technology, DehydraTECH(TM), in the development of hypertension and anti-viral treatments — a big achievement already making an impact in the pharmaceutical industry. “Since Lexaria began working on this technology in 2014, DehydraTECH has developed considerably and impacted the industry. So far, it has proven useful for potentially treating hypertension, along with the delivery of colchicine, a drug with known SARS-CoV-2 anti-viral properties,” reads a recent article. “DehydraTECH is applied by incorporating an intermediate step in the formulation and manufacturing of existing or orally ingestible and topical products. This is a crucial step that entails mixing the active ingredients as a delivery ‘payload’ with specific fatty acids and infusing the mixture into a substrate material. The next step involves using a controlled dehydration synthesis processing to associate the payload and fatty acids together at a molecular level before integrating the newly combined molecules into end-product production across various dosage form factors. From a commercial standpoint, Lexaria’s technology is proving to provide an additional layer that companies that offer consumer supplements, prescription, and non-prescription-based drugs, cannabis, and nicotine products can use to improve the effectiveness of both new and existing products.”

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

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.’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 up to 5-10x, reduce time of onset from 1-2 hours to minutes and mask unwanted tastes; it is also being evaluated for orally administered anti-viral drugs, non-steroidal anti-inflammatory drugs (“NSAIDs”) and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 21 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 – BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) Bringing Leading US Beverage Brands to Canadian Market

BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health and wellness beverage and natural products company, is developing and manufacturing a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients. The company has sought to capitalize on the growing demand, most recently through its various collaborations with U.S. cannabis-infused beverage manufacturers. Strong growth trends of the cannabis-derived drinks market in the U.S. look promising for the nascent Canadian sector, which is poised for significant growth in the coming months and years. “A key driver set to underpin future growth within the Canadian cannabis beverage market lies within the product selection currently available within the sector,” reads a recent article. “BevCanna has sought to widen selection through the introduction of several leading U.S. brands within the Canadian domestic market, capitalizing on existing manufacturing facilities and nationwide distribution coverage. In early August, BevCanna announced that it had successfully completed the first commercial production run of the leading U.S. beverage brand, Keef Brands’ cannabis-infused beverages, for delivery to select provincial distribution boards across Canada.”

To view the full article, visit https://cnw.fm/cjXA6

About BevCanna Enterprises Inc.

BevCanna Enterprises is a diversified health and wellness beverage and natural products company. BevCanna develops and manufactures a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients. With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP-certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with top U.S. cannabis beverage company Keef Brands. For more information about the company, visit www.BevCanna.com.

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

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 – The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) Enters Functional CBD Water Space in the Golden State

The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company and The Clean Beverage(R) company, has announced that it will begin sales in California of its six new A88CDB(TM) functional waters after passage of Assembly Bill 45 in the Golden State. The six natural, functional A88CBD waters—Relax, Refresh, Resistance, Relief, Reenergize, and Rest—will be sold through A88 Infused Products Inc., a wholly-owned subsidiary of the company. The product’s innovative packaging utilizes a pressurized Vessl(R) closure that contains 25mg of CBD and other functional vitamins and ingredients, which freshly infuse at 110psi into the alkaline water as the consumer twists open the bottle. “For nine years, Alkaline88(R) has been a top-selling alkaline water in California with an extensive retail footprint in virtually all major and independent supermarkets. In more recent years, we’ve also seen a rapidly expanding c-store presence in the Golden State. Over the last two weeks we have successfully launched our six functional A88CBD waters at two major trade shows. The Vessl technology and AB45 both created buzz at both shows,” said Ricky Wright, president and CEO of The Alkaline Water Company. “Hundreds of buyers came to see us, many of whom already know and trust Alkaline88 for providing great products and great service. The positive reputation our performance has earned us throughout California will give us a huge competitive advantage with these buyers as we enter into the functional CBD water space.”

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

About The Alkaline Water Company

The Alkaline Water Company is The Clean Beverage Company(TM) making a difference in the water you drink and the world we share. Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH-balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label: Clean Beverage. Quickly being recognized as a growing lifestyle brand, The Alkaline Water Company created the A88 Infused Beverage Division in 2018 to meet consumer demand for flavor-infused products under the A88 Infused(TM) brand. A88 Infused flavored water is available in six unique all-natural flavors, with new flavors coming soon. To purchase Alkaline88 and A88 Flavor Infused products online, visit www.Alkaline88.com. To learn more about the company, visit www.TheAlkalineWaterCo.com.

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

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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420 with CNW — Senators Pressure US Attorney General on Cannabis Decriminalization

Senators Cory Booker and Elizabeth Warren are calling on the attorney general (“AG”) to put an end to federal marijuana prohibition. Last week, the two sent a letter to Attorney General Merrick Garland’s office; the letter argued that the Justice Department should begin a process to de-schedule marijuana, which would help advance valuable medical research, allow the government to start remedying the harm caused by years of racial disparities in the enforcement of marijuana laws and allow states to regulate the plant as they saw fit.

The senators also explained that decriminalizing marijuana would address the racial inequities faced by people of color when it came to marijuana law enforcement, given that people of color were more likely to be criminalized over cannabis, despite the presence of comparable usage rates among races. In the letter, they wrote that federal marijuana policy had disproportionately impacted the ability of individuals of color in the throughout the United States to not only pursue education but also vote and build intergenerational wealth.

Justin Strekal, political director of the National Organization For The Reform of Marijuana Laws, applauded this action, stating in an interview that it was important to pursue every avenue to end the cruel policy of cannabis prohibition.

There exists a statutory process through which the AG can seek to change cannabis policy under the Controlled Substances Act without involving Congress. The attorney general can begin the process by requesting a scientific review to be done by the Department of Health and Human Services. After this is done, the FDA would be required to evaluate the public health and the medical and scientific implications of cannabis before the review was presented to the Justice Department.

Another avenue would involve having an outside party or the secretary of the Department of Health and Human Services file a petition to reschedule cannabis, which would be reviewed by the AG, who has assigned that responsibility to the DEA. The two senators recommend that the attorney general use the former approach, noting that the approach involving the Health and Human Services secretary would produce a recommendation that was not binding.

The letter comes a week after the House Judiciary Committee passed a measure that was introduced by Chairman Jerrold Nadler. The measure’s objective is to promote social equity and federally legalize marijuana. Earlier this week, Eric Holder, the former attorney general, also stated in an interview that the United States was on the path to decriminalizing cannabis at the federal level, as more states advance reform.

The decriminalization of cannabis at the federal level would open the door for more users of medical marijuana to the experience the benefits of combining their plant medicine with cutting-edge devices such as the RYAH Smart Inhaler made by RYAH Group Inc. (CSE: RYAH) as well as other helpful devices or technologies.

NOTE TO INVESTORS: The latest news and updates relating to RYAH Group Inc. (CSE: RYAH) are available in the company’s newsroom at https://cnw.fm/RYAH

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 — California Governor Signs Off on CBD Drinks, Smokable Hemp Bill

America’s hemp industry is famously unregulated. Nearly three years after the 2018 Farm Bill legalized the growing, processing, and sale of industrial hemp as well as its derivatives, the sector has become lucrative, attracting numerous sellers and achieving billions of dollars in sales. However, federal authorities still haven’t created a comprehensive regulatory structure for hemp, forcing states to pass their own hemp policies and leading to a patchwork of non-standard hemp policies across the country. California, a pioneer in the hemp and cannabis sectors, is the latest state to pass hemp legislation after Governor Gavin Newsom signed a bill to significantly expand the state’s cannabis industry law.

Bill AB 45 would legalize the retail sales of a wide range of hemp-infused consumable products, finally allowing for the legal sale of nonintoxicating cannabinoids such as CBD as ingredients in food and beverages and dietary supplements. Unlike THC, the main psychoactive agent in cannabis that makes a user feel high, CBD is nonpsychoactive and will not intoxicate the user.

The bill also provides guidance for the sale of cannabinoid-infused products developed out of state. Products infused with CBD have become quite popular thanks to the cannabinoid’s purported medical abilities, with people using products to help alleviate everything from anxiety and insomnia to chronic pain. With the CBD market under constant demand, industry stakeholders and some lawmakers have called on federal authorities to regulate CBD.

Assemblywoman Cecilia Aguiar-Curry was the bill’s sponsor. She decided to enact hemp reform after noticing that the state did not have official regulations for consumer safety despite hemp and CBD’s growing popularity. The sector needed standards to ensure products were safe, properly tested and labeled, she says, adding that even though her bill is a crucial step in the right direction, there’s more work to be done. While Bill AB 45 lays out the groundwork for the sale of smokable hemp in the state, lawmakers will first have to establish a tax scheme for hemp products. Furthermore, the bill includes several requirements for testing and labeling hemp products and allows the sale of cannabinoid-infused pet foods and cosmetics.

The California Department of Public Health has been tasked with writing rules to implement the hemp bill. After years of waiting, the legislation has been met with positive acclaim from the state’s hemp industry. Lindsay Robinson, executive director of the California Cannabis Industry Association, applauded Aguiar-Curry for her “tireless and unparalleled work” crafting the legislation.

It remains to be seen how the passing of this legislation will impact the operations of California-based CBD companies such as Simply Sonoma Inc.

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

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 – Sugarmade Inc. (SGMD) Continues to Build Top-Tier, Leading Position in California Cannabis Marketplace

Sugarmade (OTC: SGMD), an innovator in the dynamic California cannabis sector, has closed on its most recent acquisition. The company intends to use the parcel located in Los Angeles as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment. An article discussing the move quotes Sugarmade CEO Jimmy Chan, saying, “We are very excited to announce the upcoming location of our new Nug Avenue delivery hub, which is in a prime position to serve the downtown LA area. Our initial Nug Avenue location has been open for nearly six months and has established a strong brand with tremendous growth in membership — already exceeding 10,000 members and growing fast. Our remaining licenses can be applied to both expansion and verticalization of Nug Avenue operations as we continue to build a top-tier, farm-to-door leader in the California cannabis marketplace.”

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

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush, Nug Avenue, Lemon Glow, and Budcars. For more information, please visit www.Sugarmade.com.

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

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 – ‘Queen of Green’ Dr. Kara Coe Provides Business Update Relative to Virginia’s Momentous Policy Shift

The state of Virginia officially legalized the consumption and possession of recreational marijuana in July 2021, a momentous policy shift that followed the state’s opening of its medical marijuana market a little over a year ago. Forensic-psychologist-turned-entrepreneur Dr. Kara Coe, popularly known within professional cannabis circles as the “Queen of Green,” has been on the forefront of the Virginia cannabis movement, most recently through the launch of her diverse cannabis-focused business portfolio. Today, Dr. Coe provided an update on her business endeavors relative to Virginia’s recent recreational cannabis legalization. “Women nurture others by nature, so even though this is a male-dominated industry, it’s natural that a woman would harness the healing power of cannabis and develop products to help others on a global scale,” said Dr. Coe on her ambitions within the cannabis sector. “When I was in residency, Harvard Med didn’t even mention the cannabinoid system. I’m excited for the research and therapeutic interventions this new legislation will bring.”

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

About Dr. Kara Coe

Born and raised on the East Coast, Dr. Kara Coe knew early she wanted to help people. She received her doctorate in clinical psychology from the American School of Professional Psychology and completed residency, fellowship and postdoctoral training through a program at Harvard University. She has done work with forensic and military populations and has published a wide range of empirical literature, including articles related to parasuicidal behavior, psychopathy, interrogation, delinquency and transgendered patients. Coe is finishing a memoir depicting the internal struggle of soldiers she treated while working for the U.S. Army and NSA. She was licensed to practice in Washington, D.C., and Virginia and works with government agencies consulting on matters of national security. She recently gave up her licensure to provide free and confidential PTSD therapy to Navy SEALs. Her methods are believed to be unconventional but highly effective.

In 2021, while helping to pass cannabis legislation in Virginia, Coe opened Queens Green Apothecary, an “Alice in Wonderland”-themed smoke shop, and Cannabar, a luxury smoking lounge. Coe also is involved with other CBD/THC products, including InkWell MetaFarm (products developed to heal burns and tattoos), equine hemp bedding and a new line of ready-to-drinks (“RTDs”) that should be on shelves this fall.

For more information, follow Dr. Coe on Instagram, Facebook and Twitter.

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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420 with CNW — Former Attorney General Says US on the Path to Federally Decriminalizing Cannabis

Recently, Eric Holder spoke on a drug policy panel stating that the United States was on the path to decriminalizing cannabis federally as more states advance reform measures. Holder, the former U.S. attorney general who served under the President Barak Obama administration, stated that he was encouraged that the country was moving toward more tolerant laws on drugs that saw addiction as a public health issue.

Holder explained that the drug war had cost lots of taxpayer dollars and shattered livelihoods, noting that the society had begun to move in a different direction. Holder added that he was conflicted by efforts to decriminalize other illicit substances, including cocaine and heroin. The former attorney general revealed that he had a difficult time thinking about the decriminalization of these substances, which one could see had had a negative effect on individuals as well as the society at large. He also argued that the penalties for drug-related offenses could be lower, noting that judges should exercise more discretion when dealing with drug cases on a case-by-case basis, adding that mandatory minimum sentences for these offenses should be abolished.

The former attorney general has received credit from advocates for calling for deprioritizing the enforcement of cannabis federally. In 2013, the Justice Department issued the Cole memo, whichi discouraged federal prosecutors from going after individuals who were in compliance with state-legal marijuana laws.

However, activists also call attention to the fact that while Holder suggested that cannabis be federally rescheduled after he left office, he didn’t begin the process to enact the change in policy while he was still in office.

The panel, which was hosted by the Moritz College of Law at the Ohio State University, also centered on racial inequities in drug enforcement. The conversation was moderated by Douglas Berman from the institution. Other members of the panel included U.S. District Chief Judge Algenon Marbley, Ohio Supreme Court Chief Justice Maureen O’Connor and activist Piper Kerman. All the members of the panel agreed that the disparities illuminated the need for reform.

Marbley also stated that the federal government needed to align themselves with the states in regard to cannabis laws. He explained that most states in the country permitted the use of medical cannabis and those that were yet to allow for recreational cannabis use were headed in that direction, which meant that it was time for the federal government to get on board.

The decriminalization of cannabis at a federal level will go a long way toward making it easier for the industry and players such as Flora Growth Corp. (NASDAQ: FLGC) to reach their fullest potential of meeting the needs of the people in the different markets within which they operate.

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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For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsWire420
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420 with CNW — Financial Regulator Says Enacting Federal Cannabis Banking Laws Is Urgent

Cannabis is one of the most interesting industries in the country. Seen as one of the nation’s fastest-growing sectors, the cannabis space has been extremely lucrative, generating billions of dollars in sales revenue and creating hundreds of thousands of new job opportunities in just a few short years. However, beneath this veneer of success is a young industry that is buckling under a ton of issues, including the lack of access to financial and credit services.

Despite being allowed in more than two dozen states for medical and recreational use, cannabis is still illegal at the federal level, a situation this has had wide-ranging consequences. One of the most damaging is the fact that marijuana-related businesses (“MRBs”) lack access to financial services because banks and credit institutions shy away from working with them due to fear of federal repercussions.

Since federal authorities still haven’t updated banking laws to accommodate the cannabis space, MRBs cannot access electronic payment systems or secure commercial loans on reasonable terms. This means that they must operate on cash-only payment systems, which increases the risk of robbery and burglary, and they cannot pursue opportunities and grow, thanks to a lack of capital. With the federal government poised to discuss a bill that would federally decriminalize cannabis and provide provisions for legal sales, a financial regulator says that passing cannabis banking laws could not be more urgent.

Guidance from the Treasury Department’s Financial Crimes Enforcement Network (FINCEN) for financial institutions keen on working with licensed MRBs was last issued in 2014, underscoring the need for fresh, standardized banking policies for America’s cannabis industry. Rodney E. Hood, a member of the National Credit Union Administration, has requested the formation of a working group under the Federal Financial Institutions Examination Council (“FFIEC”) to develop uniform principles and standards for federal financial institution examinations. This would help create a government entity tasked with developing a preliminary regulatory framework that regulators could use to create the eventual system that would oversee cannabis banking.

The cannabis industry’s most pressing financial needs would be gaining access to deposit accounts, commercial loans at competitive interest rates and electronic payment systems to reduce reliance on cash payment systems. Once these obstacles are eliminated, tax-paying cannabis businesses will be able to operate just like any other legal, tax-paying establishments. But the caveat is that these policies have to be standardized and from the federal government; if not, states will pass their own cannabis banking policies, leading to a patchwork of banking regulations across the country that would take a significant amount of time and effort to detangle.

When enabling federal cannabis banking laws are eventually passed, even companies such as The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER), which may sometimes be mistaken for companies dealing in marijuana, will breathe a sigh of relief because more opportunities may open up for them.

NOTE TO INVESTORS: The latest news and updates relating to The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) are available in the company’s newsroom at http://cnw.fm/WTER

About CNW420

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

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

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.