Author: CannabisNewsWire (CNW)

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

CannabisNewsBreaks – Grapefruit USA Inc.’s (GPFT) Hourglass(TM) Products Hit the Shelves in One Plant Dispensaries Throughout California

Grapefruit USA (OTCQB: GPFT), a premiere California-based cannabis and hemp company, today announced that One Plant’s eight retail cannabis dispensaries from the California counties of Santa Barbara to Santa Cruz are all now featuring Grapefruit’s Hourglass(TM) Time-Release THC+CBD Delivery Topical Relief Cream. “It is gratifying that we have been able to place the company’s Hourglass products in the One Plant dispensaries throughout California, after months of COVID–related delays,” said Bradley J. Yourist, Grapefruit’s CEO and co-founder. “Grapefruit is confident that as we continue to educate licensed cannabis retailers about the many benefits of the Hourglass time-release THC and cannabinoid delivery system that we will be able to distribute Hourglass time-release topical cream to the many hundreds of retail cannabis stores throughout California over the coming quarters. We believe the One Plant placement is only the start of a trend which will allow Grapefruit to quickly grow Hourglass brand awareness and Grapefruit revenues. We know the patented Hourglass time-release topical delivery system not only works effectively, but is the most effective in the world. We are excited to accelerate the rate at which we deliver the Hourglass technology to our customers that have demonstrated a pressing need for it.”

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

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, visit www.GrapefruitBlvd.com.

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

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

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420 with CNW — Study Finds That Genetics Cause Hemp Plants to Produce More THC, Not Environmental Stresses

The use of CBD in various applications, including the treatment of depression, anxiety and pain and easing symptoms associated with cancer, has made cultivating hemp for CBD a booming industry. However, when hemp contains THC that exceeds the legal limit, the crop can test “hot.”

THC is the psychoactive ingredient found in marijuana that gets a person high. Federal and state regulations classify hemp as containing no more than 0.3% THC, meaning that growers can lose their entire crop if the plants exceed the stipulated THC level.

Various articles and websites have claimed that biological or environmental stresses, like crop diseases or flooding, can lead to an increase in the production of THC.

However, a new study conducted by researchers from Cornell University has found no evidence to support the claims that stress increases THC concentration in hemp plants. The study was published in the “Global Change Biology-Bioenergy” journal.

Larry Smart, the study’s senior author, explained that the team’s goal in research was to decrease the risks that growers face as much as possible, noting that this particular study was conducted to prove that stresses don’t have a strong effect on THC increase, which should give hemp cultivators some comfort. Instead, Smart continued, the study proved that it was genetics rather than the  environment that determined the CBD to THC ratio and THC content in hemp.

For the research, Jacob Toth, the lead author of the study, created plots in New York that included control plots and applied five stress treatments to three high-CBD hemp cultivars that were genetically unrelated. These treatments included physical wounding, herbicide, powdery mildew, flood conditions and exposure to ethephon, which promotes fruit ripening.

The researchers then tested the CBD and THC content over a 30-day period as the flowers matured. They discovered that the amount of THC and CBD increased proportionately in all of these cultivars, noting that by harvest time, almost every plant had produced the expected CBD to THC ratio. This excludes plants treated with herbicide, as they were almost dead.

Using a molecular marker that identifies genes that produce THC in cannabis and CBD in hemp, Toth was able to demonstrate that some varieties of hemp included plants that had genes for primarily CBD production and others produced mainly THC. He noted that growers should ensure they get high-quality seeds that produce CBD and avoid varieties that have THC-producing genes, as this would decrease their risk of growing hemp plants that contain more than 0.3% THC.

This study may have huge implications for the entire cannabis sector, including companies such as Hero Technologies Inc. (OTC: HENC), since a lot more scrutiny will be needed while selecting hemp cultivars intended for CBD extraction.

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

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 — Researchers Opt for Creative Ways to Study Federally Prohibited Marijuana

Since its inception, America’s cannabis industry has been in a precarious position. Although 37 states have legalized medical marijuana, the federal government still classifies marijuana as a Schedule I controlled substance. This has essentially shackled the state-legal cannabis industry and has been especially detrimental to cannabis research.

While cannabis is said to be effective against a wide range of medical issues, there isn’t a lot of scientific data backing up these claims. Since cannabis companies aren’t allowed to test their products on people before releasing them to the market, they essentially rely on customer feedback to tweak and improve products. According to Rick Scarpello, CEO of Medically Correct LLC, a pioneer in the Colorado cannabis space, the only way the business could test its products without running afoul of federal law during its first years was to put them on the market and then go buy them.

Despite being limited by federal law, Scarpello believes that cannabis heals and that his company provides help to sick people who need it. Still, he acknowledges that the cannabis industry is in dire need of scientific research. As such, he cannot, for instance, declare that cannabis can reduce pain as there have been few, if any, clinical studies and double-blind trials to definitively prove that the substance has pain-relieving capabilities.

Some scientists have found ways to collect the data they need without breaking federal law. Instead of bringing cannabis to the lab, which is outlawed, researchers from the University of Boulder’s Center for Health, Neuroscience, Genes, and Environment (CUChange) used specialized vans to go to participants’ homes and collect data before and after they consumed cannabis. Flush with $16 million in funding from the state of Colorado, the National Health Institute and NIDA, among others, CUChange is one of the few institutions to look at the pros and cons of using cannabis on cancer, migraines and anxiety.

Cinnamon Bidwell, an assistant professor of cognitive science at the University of Colorado Boulder, has already published nine papers this year. Those papers look at the effect of cannabis on sleep quality as well as observational studies on short-term motor control and impairment caused by high-potency marijuana. The research team achieved this despite not being able to touch any of the cannabis products the participants used, instead relying on a rigorous survey that used photos of the cannabis products and their packaging.

Hopefully, researchers will soon be able to study cannabis without any constraints. Senate Majority Leader Chuck Schumer, Senator Cory Booker and Senate Finance Committee Chairman Ron Wyden recently introduced a draft version of a federal cannabis bill that would deschedule cannabis. The three Democrats will use the feedback they collect on the discussion draft to tweak the bill and improve it before formally introducing the final version.

The ingenuity that researchers are deploying to study marijuana in spite of the federal regulatory hurdles also shows itself in the revolutionary digital health products and technologies that companies such as RYAH Group Inc. (CSE: RYAH) have brought to market to address several needs, such as the need to measure exactly how much medical cannabis a patient is smoking.

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.

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

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Closes on Acquisition of Florida Greenhouse

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has purchased a fully operational greenhouse with the purpose of advancing the company’s cultivation and production initiatives in Florida. The 45,000,000-square-foot greenhouse is located on 4.7 acres in Apopka. The company anticipates cultivating and harvesting in the new greenhouse by fourth quarter 2021. Red White & Bloom is currently building its own 114,000,000-square-foot facility, and the new greenhouse will provide near-term cultivation opportunities while that construction is underway. The company is focusing efforts on ensuring the new acquisition meets all compliance standards for a Q4 harvest. The company is also planning on branding its Florida medical dispensaries beginning in Q4 in addition to creating a consistent retail footprint and product line to align with the medical market in the state. “With such high patient demand in Florida, the Apopka facility will deliver the cultivation needed to meet our significant retail expansion goals throughout the state,” said Red White & Bloom CEO Brad Rogers in the press release. “It will also allow us to serve patients with the quality and consistency they deserve. We are very confident in our management team in Florida and more than pleased to see this expansion launch in Q4 this year.”

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

About Red White & Bloom Brands Inc.

Red White & Bloom Brands is positioning itself to be one of the top-three, multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Florida, Oklahoma, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com. 

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

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

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420 with CNW — Cannabis Sales Continue to Increase as COVID-19 Restrictions Are Lifted

The sales gains recorded in the marijuana industry after business lockdowns following the 2020 pandemic seem to be long term, with executives noting that the pandemic may have produced a new group of consumers who are trying out or using cannabis to relieve stress among other reasons. Industry executives forecast that as the U.S. economy slowly reopens and people are allowed to begin taking trips and visiting restaurants and stores, consumers of marijuana will shift their purchases in favor of discreet consumption forms such as vape pens and edibles.

A study that was conducted recently by the National Federation of Independent Business found that the small-business optimism index had grown by almost three points last month, hitting 102.5. This is the first time the index has gone above 100.

C3 Industries CEO and co-founder Ankur Rungta stated that the marijuana industry was continuing to develop, adding that he viewed the surge in sales during the pandemic lockdown period as the new baseline. C3 Industries is a vertically integrated cannabis firm in Michigan that also has operations in the state of Oregon. Rungta noted that the cannabis industry gained a lot of new customers during the pandemic, which led to marijuana acceptance increasing.

During the coronavirus lockdown, marijuana companies saw record sales across almost every state market in the country. At the time, marijuana business owners attributed the increase in sales to individuals spending their stimulus checks on marijuana while staying home, instead of engaging in other recreational activities such as traveling, going to the movies or visiting restaurants.

Now that restrictions in various states have been lifted or paused, cannabis companies expect customers to begin buying items such as vape pens, which are easier to use and more convenient for traveling. They also expect to see an increase in in-person shopping.

Michael Perlman, executive VP of investor relations and treasury at Jushi Holdings, says that as consumers become more comfortable with travellng and dining out, the company has observed an increase in activity around and in their downtown dispensary locations, which it attributes to overall increase in foot traffic. Jushi Holdings is a multistate cannabis company based in Florida that has dispensary locations in about half a dozen states.

Data released by Headset, a cannabis analytics firm based in Seattle, also shows that while recreational cannabis sales in some states has begun to flatten, sales still remain above levels recorded a year ago. For instance, adult-use cannabis sales in the state of California declined by 0.8% in May before increasing in June, with data showing that sales were still up by 10% in comparison with 2020’s sales in June.

Players in the cannabis sector such as Grapefruit USA Inc. (OTCQB: GPFT) may also need to be credited for this positive trend of marijuana sales since consumers spend on products they deem to be of an acceptable quality and price.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

About CNW420

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

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

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

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420 with CNW — Cory Booker Reveals Ongoing Talks to Gain Biden’s Support for Cannabis Legalization

Senator Cory Booker has revealed that he and his Senate colleagues are in talks with the White House regarding cannabis legalization. Now that Senate Majority Leader Chuck Schumer, Senate Finance Committee Chairman Ron Wyden and Booker have released a discussion draft of a federal marijuana legalization bill, they are working to bring President Joe Biden on board. President Biden has said that while he supports modest cannabis reform, including medical marijuana and expunging low-level cannabis offenses from people records, he opposes broad reform.

The trio released the 163-page federal cannabis bill last month, asking the public for input so they could improve it before formally introducing it for legislation. Dubbed the Cannabis Administration and Opportunity ACT (“CAOA”), the legislation would deschedule cannabis at the federal level, expunge prior marijuana-related convictions and allow states to continue maintaining their own cannabis policies, among other things. When asked how he planned on soliciting Biden’s and Vice President Kamala Harris’s support during a Q&A session on Twitter, Booker said they will start conversations with the White House now that a discussion draft of their bill is out.

While cannabis reform advocates have praised the senators’ efforts to federally legalize cannabis, there is a chance Biden might veto the bill should Congress send it to his desk. Gaining his support, as hard as that may be given the president’s past as a “leading warrior in the drug war,” it increases the legislation’s odds of becoming law. However, the federal cannabis bill may not even reach the president’s desk, given how tenuous the Democrats’ hold on the Senate is.

The three Senators will have to drum up 60 votes in the Senate for the bill to pass, which seems unlikely at the momennt. Even with the Democrats’ slim majority over the GOP, some members of the party have raised concerns about the comprehensive federal cannabis bill. Some industry stakeholders believe that the Secure and Fair Enforcement (“SAFE”) Banking Act is much more likely to advance in the Senate because it has bipartisan support; however, Booker has ruled out moving it, stating that Congress first has to provide restorative justice for communities that were disproportionately affected by the drug war.

Additionally, he says that since the CAOA would federally deschedule cannabis, it would inadvertently resolve the banking issue. It would also offer a 50% tax reduction through a tax credit to small cannabis operators with less than $20 million in sales, he says.

The federal reclassification of cannabis is likely to boost the market for CBD products made by companies such as The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) since the controversy surrounding the plant may reduce and expose it to new markets and demographics.

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

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CannabisNewsBreaks – HempFusion Wellness Inc. (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO) Closes Apothecanna Acquisition

HempFusion Wellness (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO), a leading health and wellness company offering premium probiotic supplements and products containing CBD, has completed its previously announced acquisition of APCNA Holdings LLC (“Apothecanna”). According to the update, Apothecanna achieved revenue of over $3.8 million in 2020, which now triples HempFusion’s historical proforma revenue to ~$12 million with significant expansion planned for 2021 and beyond. This makes the acquisition immediately accretive to the company. “With the recent Sagely Naturals acquisition and now closing of the Apothecanna acquisition, HempFusion is in its strongest position to date. Not only have we significantly increased our distribution footprint and product offerings, based on a 2020 proforma revenue basis of all entities combined, the acquisitions bring our historical revenue to nearly $12 million USD,” said Jason Mitchell, N.D., CEO of HempFusion. “We look forward to benefiting from the Sagely Naturals and Apothecanna distribution footprints and products, which have been known for their strong topical products, and exploring opportunities to introduce HempFusion’s premium CBD ingestibles throughout their existing distribution points.”

To view the full press release, visit https://cnw.fm/ImGF4

About HempFusion Wellness Inc.

HempFusion is a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition. HempFusion distributes its family of brands, including HempFusion, Probulin Probiotics, Biome Research, and HF Labs, to approximately 4,000 retail locations across all 50 states of the United States and select international locations. Built on a foundation of regulatory compliance and human safety, HempFusion’s diverse product portfolio comprises 48 SKUs including tinctures, proprietary FDA drug listed over-the-counter (“OTC”) topicals, doctor/practitioner lines and more. With a strong focus on research and development, HempFusion has an additional 30 products under development. HempFusion is a board member of the U.S. Hemp Roundtable, and HempFusion’s wholly owned subsidiary, Probulin Probiotics, is one of the fastest-growing probiotics companies in the United States, according to SPINs reported data. HempFusion’s CBD products are based on a proprietary Whole Food Hemp Complex™ and are available in-store or by visiting HempFusion online at www.HempFusion.com or www.Probulin.com.

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

About CannabisNewsWire

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

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

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

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420 with CNW — Study Finds That Marijuana Use Not Linked to Loss of Motivation

Recently published research shows that the use of cannabis is not independently linked to a loss of motivation among adolescents. The study was conducted over a two-year period by a team of researchers associated with the Florida International University. Study results were published in the Journal of the “International Neuropsychological Society.”

The study’s authors note that a decrease in motivation is commonly mentioned as a consequence of marijuana. However, prior studies have largely centered on adults and have yielded different results. For their study, the researchers recruited more than 400 subjects aged between 14 and 17. Each subject had to complete a quintet of biannual assessments during the study.

The investigators evaluated the motivation of each participant by using two self-reported questionnaires: the Motivation and Engagement Scale and the Apathy Evaluation Scale, which comprise of subscales that measure the value, self-effectiveness, planning, persistence and disengagement that the subjects place on school. In addition, the investigators asked every participant about their use of tobacco, cannabis and alcohol during each evaluation and conducted an analysis of the data to model patterns of motivation and the use of marijuana over time.

The study’s raw results show that the use of marijuana grew considerably, as did the lack of engagement and motivation. The greater use of marijuana was linked to less valuing of school, lower planning and more disengagement. It should be noted, however, that once the data was controlled for variables including the effects of other factors such as depression, sex and age, as well as the participants’ reported use of tobacco and alcohol, the team discovered little evidence that the use of marijuana had an effect on motivation.

In their report, the study’s authors stated that their findings didn’t support a relationship between a decline in motivation and the use of marijuana over time. The researchers also noted that the study didn’t show a loss of motivation over time, even when respondents reported a considerable increase in the use of marijuana.

The researchers explained that the change in the use of marijuana didn’t forecast changes in motivation, despite the increase in the levels of marijuana use, which proposes that the use of marijuana may not cause a decline in motivation over time. The researchers also noted that future study will continue to examine these links longitudinally in order to determine if heavier levels of marijuana use leads to a decrease in motivation.

In a press release, NORML deputy director Paul Armentano stated that these findings served to destroy outdated stereotypes about marijuana.

It looks like the cannabis industry, including players such as Flora Growth Corp. (NASDAQ: FLGC) have one less myth to contend with, thanks to the research done by the Florida International University team.

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

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

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420 with CNW — Cannabis Boom in Michigan Creates Numerous Opportunities

Despite its youth and immaturity, America’s state-legal cannabis industry has been dubbed one of the fastest-growing sectors in the country. The sector has generated billions of dollars in revenue for businesses and provided jobs for hundreds of thousands of people. In addition, projections have the space pulling in $43 billion by 2025. Cannabis is a high-risk industry and potentially a high-reward industry, especially for companies that can weather the risks, and many businesses are looking to throw their hats into the ring.

Michigan, for instance, legalized recreational cannabis only one and a half years ago, and its large population coupled with favorable cannabis policies make it an increasingly attractive market. Since last April, Michigan’s recreational cannabis sales have exceeded $100 million, and cannabis sales are expected to surpass $1.2 billion this year. According to projections by the 2021 MJBizFactbook, recreational sales in Michigan are set to quadruple from around $500 million in 2020 to roughly $2 billion–$2.5 billion in 2025.

Presently, Michigan has an estimated 200 recreational cannabis stores, putting it at one dispensary for every 34,000 residents. According to Frank Colombo, the director of data analytics for Viridian Capital Advisors, the state has little market penetration and is still in a “process of consolidation.” As such, interested cannabis companies can pitch tent in Michigan’s recreational cannabis sector with relatively little competition, at least for the moment. In fact, a report that was recently released by the New York-based Cowen Group states that Michigan is home to one of the biggest cannabis markets in the country.

The state’s cannabis policies make its cannabis space enticing to businesses in the cannabis space. For starters, Michigan currently has unlimited licensing on a statewide basis, which has led to lower acquisition prices compared to states such as Illinois. This allows established businesses as well as new entrants to acquire other cannabis operators without having to break the bank. On the municipal level, however, the state has seen several municipalities opt out of launching legal markets. While more municipalities are expected to opt in over time, probably with licensing caps, limiting licenses will allow existing businesses to retain their market share and profitability for longer without having to contend with competition.

Thanks to an uptick in cultivation facilities, there are fewer cannabis flower shortages, and flower is more affordable than it was when Michigan first launched its recreational industry. Beginning Oct. 1, 2021, the state will also reduce its licensing fees from $25,000 to $7,500, which, coupled with cheaper cannabis flower, will reduce operational costs.

It goes without saying that cannabis companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) that have a presence in Michigan have contributed to making the industry successful.

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 — Senators, Feds Discuss Cannabis Legalization During Drug Overdose Hearing

Five decades after then President Richard Nixon declared drug abuse “public enemy number one,” paving the way for the era of the drug war, drug addiction and overdoses are still taking American lives. Since 1999, more than 800,000 people have died from drug overdoses in the United States, and drug abuse remains one of the country’s most pressing issues. Now that most experts agree that the war on drugs has been an unmitigated failure, lawmakers have been pursuing other options to curb addiction and give existing addicts the help they need, rather than jail time.

Last week, top federal health officials and lawmakers met at the Senate Caucus on International Narcotics Control to discuss the ever-present drug-overdose epidemic. The conversations at the Senate narcotics commission hearing were wide ranging, covering everything from cannabis research and THC concentrations to syringe exchange programs and protecting minorities from intense policing and harsh sentencing. While federal cannabis legalization reform wasn’t a major topic, the conversation around cannabis and cannabis extracts showed that the commission was seeing a hypothetical future where cannabis was federally legalized.

Regarding cannabis, Senator John Cornyn spoke to Nora Volkov, the director of the National Institute on Drug Abuse (“NIDA”), on the need for research on how high concentrations of THC affected developing juvenile brains and people with mental health challenges. Specifically, Cornyn asked Volkov if she thought Congress should mandate this research before it legalizes marijuana at the federal level so that, as he says, “we actually know what we’re doing.” According to Volkov, studying the impact of high-THC cannabis products on the brains of children and teenagers would help lawmakers understand the consequences of legalizing cannabis.

As such, she replied, this information is 100% necessary, and the government owes it to the people to collect this data before federally legalizing marijuana. Cannabis concentrates have become extremely popular in the past few years, with cannabis businesses selling $797 million worth of concentrates in 2020 up from $567 million in 2019. Cannabis is already the most abused drug in America, with the 2019 National Survey on Drug Use and Health finding that more than 48 million Americans over 12 years of age used cannabis that year.

If Congress is to legalize marijuana at the federal level and create a framework for a legal market, ensuring only adults access cannabis products and concentrates will be crucial. Seeing as lawmakers are seeking advice on the impact of high-THC products on juveniles from experts such as Volkov, there is a good chance the age of cannabis prohibition is finally drawing to a close.

Some companies, such as XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), have opted to develop cannabis-based medicines that, when given regulatory approval, will not attract the same controversy as marijuana currently draws to itself while it is still federally prohibited.

NOTE TO INVESTORS: The latest news and updates relating to XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) are available in the company’s newsroom at https://cnw.fm/XPHYF

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

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Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.