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 – Marijuana Taxes Support Rural Pharmacies in Illinois During COVID-19 Crisis

The Coronavirus is turning out to be the cause of the biggest economic decline we’ve seen in a long time. On top of placing immense stress on the healthcare system, the virus has left all but the most essential businesses shut down. Millions of Americans have already lost their jobs, and experts say it may take a while to get the economy back on track.

The state of Illinois has found a way to keep its rural pharmacies afloat during the crisis, and cannabis plays a big hand in it. Over time, the state has built up a rainy day fund, totaling $946 million, using funds from cannabis sales taxes. These funds will be used to keep rural pharmacies, which may be the only ones within miles, afloat during the coronavirus crisis.

Last month, Illinois State Comptroller Susan Mendoza announced that the state would release nearly $1 million to critical access pharmacies that serve rural communities. “Our ongoing effort to support rural competition and managed care policies now takes on added importance as communities fight the spread of the COVID-19 Coronavirus,” she said in a March 19 press release.

Rural pharmacies that receive low reimbursements from the state’s managed care pharmacies are more likely to be taken advantage of by bigger companies that set prices. This, coupled with the fact that they are dealing with increased demand and are required to take safety measures, may place undue strain on the rural pharmacies.

Under an already existing program to support the rural pharmacies, the payments started with a release of $4.7 million in July, later followed by $1.9 in December. The payments announced last month were made ahead of schedule to help buffer the pharmacies as the coronavirus crisis grew.

“Locally owned pharmacies, often the only pharmacies available for miles in any direction, are vital to stopping the spread of the coronavirus in rural communities. It’s more important than ever that we ensure these payments continue to go out so these small businesses can continue to be there for the people they serve,” Mendoza says.

According to Garth Reynolds, the Executive Director of the Illinois Pharmacists Association, drug stores affected by the declining economy had asked the Controller’s office for financial aid.

“The COVID-19 pandemic is a prime example of why community pharmacists are vital frontline health care providers in delivering medication and patient services. Critical access pharmacies will use the released funds to keep their doors open during the pandemic and serve their patients’ needs.”

Analysts see the way Illinois is using tax funds generated from the marijuana industry in the fight against COVID-19 as validation for what industry actors like SinglePoint Inc. (OTCQB: SING) have always indicated as the far-reaching effects of legalizing marijuana.

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 – The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF) Announces Private Placement, Date for Release of Q4 Earnings

The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF) on Tuesday announced a non-brokered private placement for gross proceeds of C$20,000,000, with, at the company’s discretion, the ability to upsize the amount to an aggregate gross proceeds of C$25,000,000. According to the update, the company expects to use the proceeds of the Offering for general working capital purposes. “Despite the challenging capital markets environment, we are extremely fortunate to announce this financing and to have continued support from management and insiders who have been instrumental in Flowr’s founding, strategic direction and financing since inception,” Flowr’s CEO Vinay Tolia stated in the news release. “This capital is expected to enable Flowr to become cash flow positive in H2 2020 as we build on our focus of delivering premium dry flower to the Canadian marketplace driven by our flagship product BC Pink Kush and other high THC strains we will be launching imminently as all of our 20 grow rooms in our Kelowna 1 facility will soon be in harvest cycles.  We expect to continue to achieve premium price points in the market with our optimized library of high THC strains.  Future revenue growth will be further enhanced with contributions from Holigen given the recent receipt of our EU GMP license in Portugal.”

In addition, Flowr announced that it will release its fourth quarter 2019 results after the close of the financial markets on Wednesday, April 29, 2020, followed by a 5:30 PM Eastern Time conference call and webcast to review these results. Interested parties may access the call by dialing 1-833-227-5845 (Toll Free) or 1-647-689-4072 (Toll/International). The webcast may be accessed by visiting www.FlowrCorp.com/Investors

To view the full press release, visit http://cnw.fm/l3KBT

About The Flowr Corporation

The Flowr Corporation is a Toronto-headquartered cannabis company with operations in Canada, Europe, and Australia. Its Canadian operating campus, located in Kelowna, BC, includes a purpose-built, GMP-designed indoor cultivation facility; an outdoor and greenhouse cultivation site; and a state-of-the-art R&D facility that is currently under construction. From this campus, Flowr produces recreational and medicinal products. Internationally, Flowr intends to service the global medical cannabis market through its subsidiary Holigen, which has a license for cannabis cultivation in Portugal and operates GMP licensed facilities in Portugal and Australia. Flowr aims to support improving outcomes through responsible cannabis use and, as an established expert in cannabis cultivation, strives to be the brand of choice for consumers and patients seeking the highest-quality craftsmanship and product consistency across a portfolio of differentiated cannabis products. For more information, please visit www.Flowr.ca.

About CanadianCannabisWire

CanadianCannabisWire (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 – Cannabis Global, Inc. (MCTC) and Sugarmade, Inc.’s (SGMD) BudCars Enter License Agreement for Production of Super-Premium Edibles for the California Marketplace

Cannabis Global (OTC: MCTC), a cannabinoid and hemp extract science forward company developing infusion and delivery technologies, today announced the licensing of several patent-pending technologies to Sugarmade’s (OTCQB: SGMD) Sacramento-based BudCars Cannabis Delivery Service for use in cannabis edibles for the regulated California marketplace. Under the agreement, Cannabis Global will license its unique cannabinoid infusion technologies to BudCars for the production of super-premium, highly bioavailable cannabis edibles. “We have developed and have pending patents on several technologies that not only make the production of cannabis edibles less expensive but also improve product quality.  While we are rolling out our own hemp-oriented product lines utilizing these technologies, we are now able to leverage these developments via licensing arrangements to manufactures within the regulated cannabis markets,” Cannabis Global CEO Arman Tabatabaei stated in the news release. “We are looking forward to our working relationship with BudCars and Sugarmade.”

To view the full press release, visit http://cnw.fm/6kMBd

About Cannabis Global, Inc.

Cannabis Global, Inc. (MCTC) is a Nevada registered, fully reporting and audited publicly-traded company. With the hemp and cannabis industries moving very quickly and with a growing number of market entrants, Cannabis Global plans to concentrate its efforts on the middle portions of the hemp and cannabis value chain. The company plans to actively pursue R&D programs and productization for exotic cannabinoid isolation, bioenhancement of cannabinoids and polymeric solid nanoparticles and nanofibers for addition into consumer products and for dermal application. The company was reorganized during June of 2019 and announced its intent to enter the fast-growing cannabis sector. The company is headed and managed by a group of highly experienced cannabis industry pioneers and entrepreneurs. For more information, visit the company’s website at www.CannabisGlobalinc.com.

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

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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CBDNewsBreaks – Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF) (FWB: 496) Research Partner Secures Steady Psilocybin Supply for Clinical Studies

Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FWB: 496), a human optimization sciences company that is advancing its clinical pipeline through its ongoing TBI/PTSD-focused preclinical studies at the University of Miami’s Miller School of Medicine, today announced that its research partner and lead investigator, Dr. Michael Hoffer, has obtained a sustainable supply of psilocybin under a DEA schedule I license, which will be used for ongoing psilocybin-based therapeutics studies. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, Champignon’s wholly owned subsidiary, Tassili Life Sciences Corp., is conducting preclinical studies and eventual human clinical trials, with the intention of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. “We hope to continue to make significant progress on our preclinical trial studying the effects of an oral combination of psilocybin and CBD on mTBI associated with PTSD,” Champignon Brands research partner and lead investigator Dr. Michael Hoffer stated in the news release. “Since mTBI associated with PTSD is a combination disorder that affects more than 10 million individuals per year and has no proven medical treatment, our novel combination of medicines could be a breakthrough in treating these indications.”

To view the full press release, visit http://cnw.fm/0PzWo

About Champignon Brands Inc.

Champignon Brands Inc. is a research-driven company specializing in the formulation of a suite of medicinal mushrooms health products, as well as novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutritional, wellness and alternative medicine industries. Via its vertically integrated alternative medicine product range, Champignon is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (“PTSD”), as well as substance and alcohol use disorders. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, the Company is conducting pre-clinical studies and eventual human clinical trials, with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. Champignon continues to be inspired by sustainability, as its medicinal mushroom-infused SKUs are organic, non-GMO and vegan certified. For more information, visit the company’s website at www.Champignonbrands.com.

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

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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420 with CNW – Supreme Court Grants Mexico Legislature a Marijuana Legalization Deadline Extension

Aside from grinding most economies to a halt, the Coronavirus pandemic has severely impacted drug legalization campaigns all over the world. The scene in Mexico wasn’t much different. Legislators had been working on marijuana legalization when efforts to curb the spread of the virus made it impossible for them to complete the bill by the original April 2020 deadline.

However, the Mexican Supreme Court has granted a request to extend the deadline for marijuana legalization. This isn’t the first roadblock the legalization bill has run into. It all started when a precedent-setting ruling by the Supreme Court in 2018 deemed the country’s ban on marijuana unconstitutional.

Mexico’s Congress was granted 90 days to repeal its marijuana laws, but it became apparent that the lawmakers wouldn’t be able to make the October 2019 deadline. With lawmakers unable to find a consensus on aspects of the bill, Senate leaders requested an extension. The court approved the request, stating that the circumstances were exceptional and unique and that it took into account the ‘complexity of the matter.’

Unfortunately, the Coronavirus came along and disrupted life as we know it. With most legislative activities put on hold, the chances of the Bill being completed in time became slim. With the new deadline extension, lawmakers will have until December 15, the end of the next legislative session to tackle the marijuana legalization bill.

Despite not being completed, the bill has gone through a lot of work. In early March, Mexican senators circulated a draft bill that contained a series of proposed regulations for a legal marijuana model. Adults 18 years and older would be allowed to possess and cultivate marijuana for personal use.

An individual would be permitted to grow up to 20 registered plants as long as the total yield isn’t more than 480 grams per year. Medical marijuana patients, however, would be allowed to grow more than 20 plants. The bill would also cap personal possession at 28 grams and decriminalize possession of up to 200 grams.

It would establish the Mexican Institute of Regulation and Control of Cannabis, a decentralized body that would be responsible for regulating the market and issuing licenses to marijuana businesses. Cannabis sales would be taxed at 12% and some of the tax revenue would go toward a substance misuse treatment fund.

Additionally, public consumption would be permitted as long as the space isn’t designated as 100% smoke-free.

Experts think the news of the deadline extension didn’t come as a surprise to the cannabis industry, including companies like Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF), which saw the disruptions of the current pandemic as far-reaching.

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 – 3 Key Reasons Why Medical Cannabis Stocks Are a Good Long-Term Bet

2020 hasn’t been kind to the economy. Last month saw the biggest fall in U.S. stocks since 1987, and analysts insist that the country is almost certainly headed toward a recession. However, one industry that has been able to weather the storm is cannabis.

With most industries shut as part of the coronavirus response, cannabis was lucky enough to be deemed essential. In fact, experts have stated that the sector may even be recession-proof. For investors looking for safer stock options, cannabis, especially medical marijuana, poses an attractive option. Here’s why:

Medical marijuana is essential, and cannabis dispensaries are still allowed to conduct business during the lockdown, provided they exercise caution. States that allow marijuana have even taken extra steps to ensure the sector keeps running as safely and smoothly as possible, such as allowing curbside pickups and home deliveries. Some governors have excluded recreational marijuana from this category, though.

With over 200 million medical marijuana patients in the country, the industry will be sure of steady demand. And with fears of looming drug shortages, the industry may see an influx of even more patients. Philadelphia, for instance, is seeing a surge of new patients, with doctors at the Sanctuary Wellness Institute Fielding approximately 300 calls daily from prospective patients.

Medical marijuana is legal in more territories. Cannabis has admittedly come far from the days of prohibition, but there’s still a long way to go. In the U.S., 30 states permit medical marijuana while only 11 allow recreational marijuana. And apart from Canada and Uruguay, no other country has legalized recreational marijuana.

While there are plenty of marijuana legalization campaigns, it will be years before recreational cannabis is legal at the federal level.

Medical marijuana, on the other hand, is a lot more accepted and has a much wider market, making it a safer investment. And with more research into marijuana’s efficacy as an alternative natural medicine are conducted, you can be sure the consumer base will increase.

Medical marijuana stocks are less volatile. High risk, high reward, right? That works in many instances, but in the case of recreational marijuana, the risk is too great. The more scientific data about the efficacy of medical marijuana there is, the greater the confidence in the industry, resulting in sustained long term sales. Look at GW Pharmaceuticals, for instance.

The UK firm manufactures and sells Epidiolex, an FDA approved CBD-based drug that’s used to treat two rare and severe forms of pediatric epilepsy. Even during this volatile period, the company’s stocks have remained relatively stable, compared to recreational marijuana companies.

It would be interesting to hear what sector players like The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) have to say about the ways through which the long-term prospects of recreational marijuana can be brought in tandem with those of medical cannabis.

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 – Cannabis Global, Inc. (MCTC) Announces New Line of Cannabinoid Beverage Infusion Technologies and Industry’s First THC-V Tea and Coffee Products

Cannabis Global (OTC: MCTC), a cannabinoid and hemp extract science forward company developing infusion and delivery technologies, today announced a new line of cannabinoid beverage infusion technologies and the industry’s first Tetrahydrocannabivarin (“THC-V”) tea and coffee products. According to the update, the Company plans to begin marketing both the infusion technologies and the tea and coffee products beginning May 1, 2020. “We have completed our product development into combining THC-V and other rare cannabinoids into infusion substrates, which can then be easily added to virtually any beverage or into many foods,” Cannabis Global CEO Arman Tabatabaei said in the news release. “Our first products will be tea bags and single-serving coffee pods. This is a unique and exciting technology we are bringing to the marketplace.”

To view the full press release, visit http://cnw.fm/QtXr4

About Cannabis Global, Inc.

Cannabis Global, Inc. (MCTC) is a Nevada registered, fully reporting and audited publicly-traded company. With the hemp and cannabis industries moving very quickly and with a growing number of market entrants, Cannabis Global plans to concentrate its efforts on the middle portions of the hemp and cannabis value chain. The Company plans to actively pursue R&D programs and productization for exotic cannabinoid isolation, bioenhancement of cannabinoids and polymeric solid nanoparticles and nanofibers for addition into consumer products and for dermal application. The Company was reorganized during June of 2019 and announced its intent to enter the fast-growing cannabis sector. The Company is headed and managed by a group of highly experienced cannabis industry pioneers and entrepreneurs.

More information on the Company can be viewed at www.CannabisGlobalinc.com.

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

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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HempNewsBreaks – Youngevity International, Inc. (NASDAQ: YGYI) Subsidiaries Enter Joint Venture for Large Scale Processing Facility, 2,200 Acres to Grow Hemp in Nicaragua

Youngevity International (NASDAQ: YGYI), a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise, commercial hemp enterprise and multi-channel lifestyle company, today announced that its wholly-owned subsidiaries, CLR Roasters LLC and Khrysos Industries, Inc. (the “US Partners”) have entered into an agreement with H&H Coffee Group Export Corp and The Nica Hemp Cooperative, Inc (the “Nicaragua Partners”) to acquire the 2,200 acre Chaguitillo Farms in Sebaco-Matagalpa, Nicaragua. The joint venture will utilize the property to erect a large-scale processing facility and to grow hemp on the land. Planned improvements to the property are anticipated to total approximately $30,000,000 dollars, with H&H contributing the 2,200-acre farm with an estimated value of about $10 million. All the capital toward the construction of the project, estimated at $20 million dollars, will be provided by The Nica Hemp Cooperative. Along with its expertise in the hemp business, the US Partners will initially contribute $3,000,000 of extraction equipment to the project. Additionally, the US Partners aim to issue 1.5 million shares of YGYI common stock to the Nica Hemp Cooperative in exchange for a 50% stake in the land and the improvements (having a $30,000,000 estimated value at completion). The US Partners will also issue 5 million warrants with a strike price $1.50 per share to the Nica Hemp Cooperative in exchange for a 75% controlling stake in the hemp grow and oil extraction business, subject to Nasdaq approval. The warrants will be issued when the project is completed and initiates its operations. “This is a very impressive partnership and collaboration between our Hemp Enterprise, our Coffee Enterprise and our very strong and growing strategic business relationship in Nicaragua. We feel that the value of YGYI’s 50% interest in the land and infrastructure at completion of the project along with the assumption that the warrants will be exercised represents a significant premium to our current trading price,” Youngevity president and CFO Dave Briskie stated in the news release.

To view the full press release, visit http://cnw.fm/KJiE9

About Youngevity International, Inc.

Youngevity International, Inc. is a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise, a commercial hemp enterprise, and a multi-vertical omni direct selling enterprise. The company features a multi country selling network and has assembled a virtual Main Street of products and services under one corporate entity. YGYI offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry, as well as innovative services. For more information, please visit www.YGYI.com.

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

About HempWireNews

HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.

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CannabisNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Files New Patent Application for DehydraTECH Technology in Delivery of Antiviral Drugs

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), a global innovator in drug delivery platforms, today announced that it has filed an important new patent application in the United States describing the use of its DehydraTECH(TM) technology for the delivery of antiviral drugs. According to the update, the technology would potentially be used to improve treatment options for viral infectious diseases including COVID-19, MERS, SARS, influenza, herpes, hepatitis and AIDS. “Lexaria’s proprietary drug delivery platform has already proven its effectiveness in the oral delivery of other lipophilic drugs such as nicotine, cannabinoids, and more, with multi-fold increases in both the rate and extent of bioabsorption,” Lexaria President John Docherty said in the news release. “We hypothesize that, once detailed testing begins, DehydraTECH will evidence improvements in the quantity and rapidity with which certain antiviral drugs are able to reach the human bloodstream after oral delivery. This has the potential to make a real contribution in the fight against COVID-19.”

To view the full press release, visit http://cnw.fm/9fGWH

About Lexaria

Lexaria Bioscience Corp. is a global innovator in drug delivery platforms. Its patented DehydraTECH(TM) drug delivery technology changes the way API’s enter the bloodstream, promoting healthier ingestion methods, lower overall dosing and higher effectiveness for lipophilic active molecules. DehydraTECH increases bio-absorption; reduces time of onset; and can reduce drug costs for orally administered bioactive molecules including nicotine, vitamins, non-steroidal anti-inflammatory drugs (“NSAIDs”) and other molecules. Lexaria has licensed DehydraTECH to multiple companies for use in various oral application formats, including to a world-leading tobacco producer for the development of smokeless, oral-based nicotine products. Lexaria operates a federally licensed in-house research laboratory and holds a robust intellectual property portfolio with 16 patents granted and over 60 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 LXRP are available in the company’s newsroom at http://cnw.fm/LXX

About CanadianCannabisWire

CanadianCannabisWire (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 – Ohio Eases Medical Marijuana Purchase Restrictions

The state of Ohio has eased some of its medical marijuana restrictions after repeated complaints that the current system made it difficult for patients to get their medicine when they needed it. The need for a system that works for the patients was further underscored by the danger posed by the Coronavirus pandemic. It forced people to leave the confines of their homes more often than they would have liked, putting them at a greater risk of contracting the virus.

Most medical marijuana patients have weakened immunities due to advanced age and/or serious medical conditions, and they are the last people who should be out and about. State regulations limit patients to a 90 day supply, but soon after the state’s medical-marijuana program picked up some steam, patients noticed something.

They ‘lost’ the days they hadn’t purchased any medical marijuana. So if a patient went to the dispensary on day 30, they would only be able to buy 60 days’ worth of marijuana, effectively losing the first thirty days’ worth. Additionally, any purchases made in the last 90 days were subtracted as patients had to wait for purchases to ‘fall off’ after 90 days before they could purchase more.

On top of that, the patient portal showed an inaccurate number of remaining days, resulting in a system that prevented customers from getting the 90 days’ worth of marijuana they were entitled to.

“I can go for several weeks without buying anything from my local dispensary. Meanwhile, my 90-day purchasing window is getting smaller,” says Ted McLaughlin, a Vietnam War veteran.

“Under the old purchase limits, I had to take several trips to my dispensary in Cleveland rather than being able to stock up all at once,” he says. Patients won’t have to worry about that now after the state made the rules less restrictive.

A patient will now be able to buy 45 days’ worth of products at any point in a 45 day period. And unlike in the previous system, they won’t lose their unpurchased days. Additionally, they won’t carry over to the next period. So if a patient goes to the dispensary on day 30, they can buy 45 days’ worth of marijuana, come back on day 46 and purchase another 45 days’ worth.

“We hope this will provide greater transparency for patients, caregivers, and dispensary employees while still taking steps to ensure patients do not possess more than a 90-day supply as stipulated in the Ohio Revised Code,” says Pharmacy Board spokesman Cameron McNamee.

These changes are likely to be welcomed by the entire marijuana industry, including Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF), since it has always been a goal of the industry to serve patients in the best way possible, and Ohio’s reforms do just that.

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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