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 — Voters in North Dakota Again Have Say on Cannabis Legalization

A ballot measure aiming to legalize recreational cannabis in North Dakota has been confirmed for the upcoming November election, as announced by the state’s chief election official on Monday. This development brings the issue back to voters, where previous attempts to pass similar measures have been unsuccessful.

Michael Howe, the state’s secretary of state, confirmed that almost 19,000 voter signatures were validated during the review process, surpassing the required number needed to secure a spot on the November ballot. The group responsible for the initiative, known as New Economic Frontier, had initially submitted more than 22,000 signatures in July.

The measure’s leader, Steve Bakken, former mayor of Bismarck and commissioner for Burleigh County, stated that law enforcement should concentrate more on battling fentanyl and opioids than cannabis. The initiative’s goal, he added, is to stop any actions taken outside of the state that might have unmanageable repercussions.

The proposed 20-page measure seeks to legalize recreational cannabis use for individuals 21 years of age and older. The measure also details various processing and production regulations and prohibited uses, such as in vehicles and public spaces.

The legislation sets limits on the amount of cannabis that can be purchased and possessed. Additionally, it would allow for edibles, cannabis solutions, transdermal patches, capsules and concentrates.

Currently in North Dakota, marijuana use by individuals under the age of 21 is classified as a misdemeanor. For those older than 21, recreational use is not illegal, but possession is, with penalties such as misdemeanors and infractions depending on the quantity of marijuana involved. Delivery of cannabis is considered a felony, with potential sentence enhancements if it occurs within 300 feet of a school.

Data from the state’s courts indicates that 4,451 individuals were charged with marijuana possession or use across the state last year.

While voters approved medical cannabis in 2016, they rejected recreational cannabis initiatives in both 2022 and 2018. In 2021, the state’s Republican-controlled House of Representatives passed measures to legalize recreational cannabis, but the Republican-controlled Senate ultimately defeated these efforts.

Representative Matt Ruby noted that the current priorities will be informing voters about the possible economic advantages, enhanced safety regulations and more convenient access to medical cannabis. On the other hand, the Brighter Future Alliance, a group opposing the measure, criticized supporters for not accepting defeat after multiple unsuccessful attempts.

Currently, recreational cannabis is legal in 24 states. Ohio was the most recent state to legalize marijuana in 2023 through a ballot measure. Voters in South Dakota and Florida will also have the opportunity to decide on similar measures in November.

In case the voters in these states give the nod to adult-use marijuana legalization at the polls, a chance will be created not only for marijuana companies but also ancillary ones such as Innovative Industrial Properties Inc. (NYSE: IIPR) to sprout in those markets and serve the entities that need their services.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. 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 — Science Suggests No Difference Between Effects of Indica, Sativa Varieties

Marijuana is among the earliest crops cultivated by humanity, with ancient societies across the globe growing the plant for various purposes, including medicine, fiber and food as well as its hallucinogenic properties.

In the present day, approximately 12,000 years since marijuana’s first cultivation, the global marijuana industry has reached an estimated value of $65 billion. In regions where cannabis is legalized, consumers now have access to an extensive selection of more than 700 different strains, each with unique and often creative names, such as Unicorn Poop and Cat Piss.

Despite the wide range of options available, marijuana products are typically divided into two groups: sativa and indica, with each thought to have different psychotropic effects.

“There’s a common belief that smoking an indica strain is similar to using Xanax, leading to drowsiness, while consuming sativa is akin to a stimulating experience, almost like taking a hit of cocaine, resulting in increased energy and hyperactivity,” explains Binske cofounder and CEO, Alex Pasternack.

However, a growing body of scientific evidence indicates that these names may not imply as much as previously believed. There may not be many genetic or chemical distinctions between the two, suggesting that users may not get the desired results.

French scientist Jean-Baptiste Lamarck is credited with coining the words indica and sativa in the late 1700s when he proposed classifying marijuana plants according to their physical traits. He noted that sativas were longer with fibrous stems and narrow, thin leaves, whereas indicas were shorter with woody stems and broad, stubby leaves.

However, neuroscientist Nick Jikomes, who was once Leafly’s director of science and innovation, states that a plant’s outward look is not always a good sign of its effects on the mind and body. He says that a drug’s chemical makeup determines how it affects you.

And unlike wineries, cheesemakers or apple producers, cannabis farmers are not constrained by rigid naming conventions. According to Jikomes, anyone may take any random cannabis seed and call it whatever they wish. They can also classify it as indica, sativa, hybrid or anything else they want.

This helps to explain why Jikomes discovered that product labels frequently misrepresented the chemical makeup of the marijuana flowers it tested in a 2022 study that examined the chemical composition of more than 90,000 commercial marijuana flower samples from six states in the country. The study found that sativas did not consistently contain higher levels of THC, the primary compound responsible for the marijuana high, compared to indica strains.

These findings are consistent with a study conducted in 2021, which examined around 300 marijuana strains. The lead author of the study, Sean Myles, stated that there isn’t any credible scientific data indicating a difference between samples classified as indica or sativa.

The widespread cross-breeding that has taken place throughout time is partially to blame for the confusion. Myles noted that although the original indica plant, which originated in the Middle East, may have been chemically and genetically different from its sativa counterpart from central Asia, the differences are now too hazy to be distinguished with clarity.

Researchers recommend categorizing marijuana according to its chemical properties rather than its physical characteristics for increased accuracy. Cannabis products would be labeled by their primary chemical constituents and their concentrations, much like the Nutrition Facts label on food. Ingredients would be the biologically active compounds produced by the plants, such as terpenes and cannabinoids.

While a labeling system based on the chemical composition of a strain may be perfect for established marijuana markets, Pasternack acknowledges that most consumers today are not seeking scientifically accurate or more detailed labels. They generally look for the best value for their money, he says.

Industry actors such as Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) have plenty of work to do to make customers more aware of how different cannabinoids combine to provide the desired effects, regardless of whether the strain is indica or sativa.

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420 with CNW — New Scientific Review Says Medical Cannabis Shows Promise in Treating Tourette Syndrome

A recent scientific review has delved into the possible therapeutic benefits of marijuana-based medicine for treating Tourette syndrome (TS), revealing that medical cannabis might significantly help reduce the intensity of premonitory urges and tics associated with the condition.

The review’s authors examined nine studies with 401 TS patients. The findings suggest that while more research is necessary — particularly studies involving larger participant groups, standardized dosages and consistent drug formulations — marijuana-based medicine (MBM) holds promise as a treatment option for individuals with TS.

“The current study demonstrates promising and perhaps advantageous results with MBM in terms of reducing the intensity of premonitory cravings and tics,” the authors noted. They said that considering the few therapeutic choices now accessible to TS patients, these findings may be especially important.

Although there are several treatments available to lessen the frequency and intensity of tics connected to TS and improve the quality of life for patients, the authors observed a notable deficiency of strong evidence to support the efficacy of these treatments. Currently, the FDA has only approved three drugs to treat tics: aripiprazole, haloperidol and pimozide. But since there isn’t a single treatment that works for everyone, several other agents, including MBM, have been suggested as viable solutions.

The review included both cohort studies and clinical trials, and it included comparisons between measurements obtained before and after cannabis administration. The significance of the findings was evaluated using a 95% confidence interval.

The meta-analysis encompassed three trials, out of which one demonstrated a noteworthy decline in overall scores, the second showed a considerable reduction in scores and the third revealed no significant variation with the use of marijuana-based treatment.

According to the authors, their study is the first comprehensive meta-analysis and review of MBM’s efficacy in TS patients using a variety of measures. They did concede that there are questions regarding the study’s findings’ generalizability due to the very small data set and that more research is needed.

As per the Tourette Association of America, there are specific states, including Ohio, New Jersey, Missouri, Minnesota, Illinois and Arkansas, that acknowledge TS as a qualifying diagnosis for medical cannabis. In certain states, medical professionals are permitted to recommend marijuana for any disease they think would benefit from it, especially if other treatments have failed.

There is growing momentum in the United States to loosen regulations surrounding medical marijuana research. Even though reclassification by itself wouldn’t make recreational or medical cannabis markets lawful in any state, it might have several effects on government workers, taxation, research and other sectors.

The full benefits of the medical cannabis products from the thousands of licensed marijuana companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) are unlikely to be fully known in the years to come until extensive research is done to document how different groups of patients respond when they consume these products.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Targeting Oral GLP-1 Alternatives for Diabetes and Obesity Treatment

Lexaria, a global innovator in drug delivery platforms, is exploring its patented DehydraTECH(TM) technology for the oral delivery of glucagon-like peptide-1 (“GLP-1”) drugs.
GLP-1 drugs have shown great promise in addressing diabetes and obesity, with nearly all the major brands administered only through injection devices.
A previous human study by Lexaria evidenced improved bioavailability when semaglutide was administered orally, as compared to standard Rybelsus®.
Lexaria has several additional R&D studies underway, including both animal and human investigations into semaglutide, liraglutide and tirzepatide. Together, those three drugs represent more than 90% of all revenue in the current global GLP1 market.

Data from the United States shows that 54% of adults and 66% of children consume more added sugars than recommended (https://cnw.fm/JNFjW). On average, it has been noted that adults, young adults, and children in the United States consume 17 teaspoons of added sugar daily, which is more than two to three times the recommended amount for men and women, respectively. Extrapolated annually, this adds up to around 60 pounds of added sugar or six 10-pound bowling balls (https://cnw.fm/VamC5).

Numerous studies have linked increased sugar consumption to diabetes. While not directly linked, sugar is considered integral to weight gains, which, in turn, increases their risk of type 2 diabetes. The condition cannot be cured, but it can be managed. Recent studies on glucagon-like peptide-1 (“GLP-1”) have shown great promise in addressing the condition. Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recognizes the potential of these GLP-1 drugs, and if any of its recent studies are anything to go by, the company is on track to offer an oral delivery enhancement to current GLP-1 options that are in the market today.

People living with diabetes often require insulin shots to manage their condition. Although many types of insulin are available, including long-acting, rapid-acting, and short-acting, none of those can be taken orally to lower blood sugar. This is because stomach enzymes have been shown to interfere with insulin’s action, prompting the use of needles and syringes, or an insulin pen, to deliver the product to the body (https://cnw.fm/utYCj). This has also been the case for GLP-1 drugs.

“Most GLP-1 drugs sold today are administered by painful and expensive injection devices. More effective and tolerable oral delivery of GLP-1 could be extremely valuable to patients and to industry,” noted Chris Bunka, Lexaria’s CEO (https://cnw.fm/Aaqa0).

Lexaria has explored oral delivery of GLP-1 drugs using its patented DehydraTECH(TM) technology since the beginning of the year. So far, its studies have evidenced increased bioavailability, with its WEIGHT-A24-1 diabetes animal study showing a stark decrease in the rate of body weight gain for specific DehydraTECH-CBD formulations and noticeable weight loss for its DehydraTECH-Liraglutide (https://cnw.fm/pHYrf). All of its studies thus far have highlighted DehydraTECH’s potential in treating diabetes and obesity, and the company looks to double down on this research for the remainder of the year.

As the conversation about added sugars, diabetes, and obesity proliferates, the company’s management is optimistic about its ongoing GLP-1 studies. It is also confident that the studies will yield positive results, demonstrating the superiority of DehydraTECH as a drug delivery technology. As a company, Lexaria has already validated the technology’s usefulness in delivering various orally administered bioactive molecules more effectively. Its focus on GLP-1 drugs for the potential treatment of diabetes and obesity speaks to the company’s confidence in the technology and its commitment to stamping its position as a leader in the market.

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

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CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

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420 with CNW — Ohio Dispensaries See Long Lines as Recreational Marijuana Sales Begin

Last week, Ohioans flocked to dispensaries for the highly anticipated launch of recreational cannabis sales. Almost 100 medical cannabis dispensaries were permitted to sell recreational marijuana to adults after obtaining operational certificates from the state’s marijuana control division.

In Cincinnati, Jeffrey Reide was so excited about the historic day that he camped out in his car to ensure he would be the first in line at a local dispensary. “I’m thrilled; this has been a long time coming,” Reide said, reflecting the sentiment of many others eagerly awaiting this moment. Similar scenes were observed in Youngstown and Columbus, where dispensaries reported long lines of excited consumers anxious to make their first legal purchases.

One of the early birds in Columbus was Bloom Medicinals, located at 1361 Georgesville Road, which opened its doors around eight in the morning. The dispensary welcomed about 20 customers, all keen to be among the first to purchase cannabis without needing a prescription.

The store, originally a medicinal dispensary, set up a separate line to accommodate its regular customers who still rely on marijuana for medical purposes. Customers waited in orderly lines at the security station to have their identification examined to make sure they were authorized to purchase marijuana.

In terms of pricing, most cannabis flower products were approximately $40 for 2.83 grams, roughly equivalent to one-tenth of an ounce. The pricing range for edibles was wider, varying from $17 to $100 based on the product’s size and nature. Gavin McKenney, general manager of Bloom Medicinals, pointed out that consumers used to buying marijuana in Michigan would find that Ohio’s costs are a little higher for the time being.

While 98 locations were given the all-clear to begin selling, it was unclear how many were up and running from the outset.

Ohio voters approved the legalization of recreational marijuana last November, allowing adults 21 years of age and older to buy, possess and cultivate limited quantities of marijuana for personal use. However, the start of sales was postponed while the state established a regulated framework for transactions and finalized other regulations.

Under the new regulations, adults can purchase and hold up to 2.5 ounces of marijuana. Additionally, individuals are permitted to cultivate up to 6 plants at home, with a household limit of 12 plants. A 10% tax applies to legal sales; this revenue will be used to pay for job programs and social-equity initiatives within the cannabis sector, as well as to support addiction treatment, municipalities that have dispensaries and administrative expenditures.

The entire marijuana industry, including players such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), will be happy that the sales launch in Ohio went without a major glitch and will hope that more retail outlets open quickly so that residents can have easy access to the products they need.

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420 with CNW — Nebraska’s Judiciary Committee Considers Measures to Legalize, Regulate, Tax Adult-Use Marijuana

The Nebraska Judiciary Committee recently reviewed two proposals aimed at legalizing cannabis for adults aged 21 and older. Senator Justin Wayne introduced LB52, which outlines a regulatory structure for the marijuana industry, including a 25% sales and excise tax on marijuana products. The tax revenue would be allocated to the Education Future Fund.

Additionally, LB52 proposes the creation of the Nebraska Marijuana Enforcement Commission to supervise the sector, administer licenses and impose sanctions for infractions.

Another proposal, LB71, was put forward by Senator Terrell McKinney. This bill also seeks to legalize recreational marijuana but suggests a 16% sales and excise tax on marijuana products. Under LB71, 50% of sales tax revenue would go toward funding the Property Tax Credit Cash Fund and 40% would go toward funding the Education Future Fund. Remaining funds would be allocated to grants for youth outreach, education, prisoner reintegration programs and economic development.

Both proposals aim to remove marijuana from the state’s Controlled Substances Act (CSA). LB52 includes a provision that, starting January 2025, marijuana-related offenses would automatically qualify for clean slate relief, allowing for the removal of certain convictions from criminal records.

McKinney noted that legalizing recreational cannabis could provide significant tax revenue to support property tax reduction and education. He also highlighted the potential to lower the number of inmates in the state, which would lower operating expenses.

Jason Witmer, speaking on behalf of the Nebraska ACLU, backed both proposals, noting that criminalizing marijuana is a waste of tax dollars, negatively affects Black Nebraskans disproportionately, and has no positive effect on public safety. Legalizing cannabis for recreational use, according to Witmer, might result in tax breaks without burdening hardworking Nebraskans more.

Jennifer Henning, mother of a seven-year-old child with severe disabilities, also testified in support of the measures. She clarified that by offering an alternative to pharmaceutical medications such as methadone and ketamine, legalizing marijuana could enhance her son’s quality of life.

On the other hand, Colonel John Buldoc, Nebraska State Patrol superintendent, voiced concerns about the proposals, citing potential risks to public safety. “Based on my extensive experience, cannabis unquestionably impairs one’s ability to drive safely. It is the most prevalent illegal substance detected in the bloodstreams of drivers engaged in collisions,” Buldoc said.

Douglas County sheriff Aaron Hanson also opposed the proposals, stating that neighboring states with legalized adult-use cannabis, such as Missouri and Colorado, have seen increases in traffic fatalities, violent crimes and homicides.

Deputy Solicitor General Zachary Viglianco from the Nebraska Attorney General’s Office shared concerns about health risks associated with cannabis use, including higher chances of cancer, mental health issues and heart attacks.

The committee has yet to take any action on either LB71 or LB52 following the testimonies. The entire cannabis industry, including entities such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), will likely observe how the proposals are considered to glean whether prohibition could soon end in this state as well.

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420 with CNW — Marijuana Companies Are Incorporating Reused Inputs in Packaging

While quantifying the exact amount of waste produced by the regulated cannabis sector is challenging, it’s evident that the waste generated is substantial. According to the National Cannabis Industry Association, cannabis byproducts in landfills contribute to an increase in carbon emissions of about 27,876 metric tons annually.

Additionally, a 2020 study indicated that the U.S. marijuana industry produced approximately 1,754 tons of fresh and 520 tons of dry-weight trash that year. This figure does not even include packaging waste, which could potentially surpass the estimated biomass waste.

Disposable vaporizers have become increasingly popular in the last few years due to their affordability, portability, ease of use and attraction to cannabis tourists. They accounted for 15% of all vape pen purchases in Canada and 29% in the United States in the first three months of 2024, according to Headset, a Seattle-based marijuana analytics company. Despite their convenience, these products contribute significantly to landfill waste due to their flammable batteries and nonbiodegradable plastics.

In response to the waste problem, some marijuana companies are exploring more sustainable solutions. In April, PAX Labs, based in San Francisco, introduced the PAX Trip, the company’s first product created from recycled and repurposed ocean plastic. Initially launched in Massachusetts and California, the PAX Trip is expected to expand to New York and Colorado. The company collaborated with rePurpose Global to certify all of its products as plastic negative. For every unit of plastic used, PAX funds the removal of twice that amount of plastic from the environment.

Other major players in the industry are also adopting sustainable packaging practices. In October, Canadian marijuana company Tilray Brands announced it had begun converting some of its product components and packaging to hemp to reduce single-use plastics. Tilray has diverted almost 131,000 kg of plastic garbage since the program’s inception, and its Good Supply brand has stopped nearly 925,000 kg of plastic from ending up in landfills.

In 2021, Oregon-based Wyld, a competitor of Wana Brands for the top market share in gummies, unveiled a compostable bag to conform to Canadian market laws. Wyld has extended its ecofriendly packaging to several of its CBD and marijuana-infused products in the American market. Additionally, in 2022, the company released the Good Tide brand, which employs entirely compostable and recyclable paper tubes, some of which have a compostable lining to retain freshness.

Startups such as Ecoshell, previously known as Spark Sourcing, are also developing innovative solutions to reduce carbon emissions and plastic use. The company is currently evaluating unique packaging designs from three different cannabis companies. Ecoshell, a Canadian company based in New Brunswick that caters to the North American sector, debuted a patented substance mainly composed of eggshells in October. This substance can replace up to half of the plastic component in various items after going through a seven-step process to turn it into pellets.

Coast Cannabis Co., an edibles manufacturer located in Massachusetts, teamed up with AE Global to produce environmentally friendly packaging made from recycled ocean plastic. Coast also introduced a marijuana-infused chocolate bar packaged with recycled ocean plastic in June. AE Global focuses on reducing plastic waste by making investments in international waste-management infrastructure. The company provides the cannabis market with specialized supply, labeling and packaging options.

With leading cannabis companies such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) crunching the numbers and seeing options that minimize waste can also be cost effective, the reputation of the industry as one that generates significant waste could change.

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420 with CNW — Kamala Harris Backs Marijuana Legalization, a First for Major Presidential Candidate

Vice President Kamala Harris’s opinions on marijuana have changed over time, much like those of many other Americans. Back in 2010, she urged voters to reject a ballot measure that sought to legalize recreational marijuana when she was the district attorney for San Francisco. Her position at the time was in accord with that of a majority of California voters, of whom 54% eventually voted against the initiative.

However, the perspective on marijuana began to change not long after. By 2016, California voters had passed Proposition 64, which legalized cannabis throughout the state. Then, in 2019, as California’s junior senator, Harris cosponsored legislation to lift the federal ban on cannabis. Nearly two-thirds of Americans favored legalizing marijuana, according to a Gallup poll conducted that year, a substantial increase from the 46% of respondents in 2010.

Today, support for cannabis legalization has risen to 70%. Harris has consistently, in her tenure as VP, stated that no American should be imprisoned for using marijuana. She has supported the efforts of the Biden administration to relax some federal marijuana prohibitions and to pardon individuals who have committed minor marijuana infractions.

Harris’s journey from a skeptic to a supporter of legalization reflects a broader shift among Americans. As with many voters, her opinions changed as medical marijuana gained greater traction. While serving as San Francisco’s district attorney, Harris vowed not to prosecute individuals using or selling medical cannabis.

The move toward full cannabis legalization gained momentum in 2012 when voters in Washington and Colorado became the first states to pass recreational cannabis regulations. By 2016, the number of states where marijuana was legal had grown to nine. Currently, 24 states have legalized cannabis.

Living in a state where marijuana is legalized probably helped Harris change from being a fierce opponent to a supporter. This pattern is evident in other states, such as Colorado, where voter support for legalization has increased since the laws were first enacted. No state has revoked its cannabis legalization laws, as these policies have generally met the expectations of voters and lawmakers and are seen as better alternatives to criminalization.

Despite the shift in public opinion, federal cannabis policies have remained largely unchanged. Many politicians in Congress still hold outdated views on cannabis, reminiscent of the Reefer Madness era, which most voters have long rejected. These lawmakers need to update their views to align with current scientific understanding and public opinion, much as Harris did. Those who fail to adapt risk falling out of step with their constituents.

That Harris has brought the debate on marijuana legalization to the highest level of elected leadership in the United States is a welcome happening for cannabis companies such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) because it will bring the subject of drug-policy reform to the center of public discourse, at least during the election cycle and possibly beyond.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Releases Q3 2024 Financial Results; Offers a Roadmap for its Key GLP-1 Study Program

The company provided updates for its study programs for 2024, with a focus on its glucagon-like peptide-1 (“GLP-1”) agonist research program, targeting a significant step up in addressing worldwide diabetes and obesity, a tremendous market
Lexaria has its Human Pilot Study #3 lined up, as well as its chronic dosing human study, both studies will begin dosing later this year

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just released its fiscal report for the third quarter of the 2024 financial year (“Q3, 2024”). Of note was growth in cash and marketable securities from $1.5 million during the same period in the 2023 financial year to $8.5 million as of May 31, 2024. The company reduced certain R&D expenditures and experienced other savings (https://cnw.fm/OxPux).

Most importantly, however, were the program updates for initiatives it embarked on for 2024. A highlight of its projects has been its glucagon-like peptide-1 (“GLP-1”) agonist research program. GLP-1, a class of drugs, has demonstrated an ability to significantly address diabetes and obesity. What Lexaria’s unique drug delivery platform offers is the added ability to greatly improve the otherwise poor oral bioavailability of GLP-1 drugs, making it possible for simple oral application versus traditional injection, an opportunity of huge implication in the marketplace.

Human pilot study #1, utilizing Novo Nordisk’s(R) semaglutide (Ozempic(R), Rybelsus(R)) was reported on in January 2024, and human pilot study #2, using the same drug, is expected to be reported on in August and September, 2024.

Lexaria has made notable progress, having commenced another research program, the completion of which is set for August. This program will be executed by the National Research Council of Canada (“NRC”). It will seek to evaluate the molecular properties of DehydraTECH-processed pure semaglutide using simulated gastric fluid, which mimics conditions in the human gut.

Lexaria also looks to follow through with its chronic (12-week) dosing human study set to be carried out in Australia. This study, which will involve 70-90 human study subjects with pre-diabetic and Type 2 diabetic conditions, will be run in Australia, and preparations have already begun. It will leverage the use of Rybelsus as a positive control, and then in four additional separate arms, DehydraTECH-processed 1) semaglutide, 2)CBD, 3) tirzepatide, and 4) combo CBD plus semaglutide This larger study will be registered as a Phase 1 level study and carried out into 2025.

Human Pilot Study #3 is also in the pipeline, a study that will enroll up to eight healthy human volunteers, intending to evaluate DehydraTECH’s effectiveness in combination with a dual action GLP-1 agonist and glucose-dependent insulinotropic peptide (“GIP”) drug, Eli Lilly’s(R) well-known tirzepatide. The study will aim for several endpoints, including blood sugar, pharmacokinetics, and tolerability. Already, the company has brought a contract research organization (“CRO”) to run the study and is expecting to begin dosing in September.

Lexaria is bullish about its GLP-1 studies, since revenues for this product class exceeded $31 billion, with the market projected to grow significantly in the coming years. The company continues to make progress toward this extremely high-value target.

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

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420 with CNW — Chinese Money Launderers Taking Over Marijuana Trafficking in US

For decades, Chinese criminal organizations have covertly operated in major U.S. cities such as New York and San Francisco. Their activities, which include cybercrime and wildlife trafficking, have largely flown by without law enforcement noticing due to their nonviolent nature.

Historically, these groups have remained more active and visible in the Pacific and Asia, especially in nations such as Singapore and Australia, where they have targeted Chinese companies with their money-laundering operations. However, their new partnerships with drug-trafficking groups in Latin America have elevated them to the status of leading money launderers globally.

In 2018, the U.S. Drug Enforcement Administration’s (DEA) Special Operations Division initiated Project Sleeping Giant, a coordinated effort among various government agencies to combat Chinese-associated money-laundering and drug activities. The DEA had identified some Chinese money brokers who were engaged in the fentanyl trade in locations including Miami, Los Angeles, Chicago and New York. Over the following months, investigators began to uncover the extent of Chinese involvement with Mexican cartels.

The money-laundering process starts with Mexican cartel members delivering cash from fentanyl sales to Chinese money brokers in the United States. After that, these intermediaries make sure the cartels in Mexico get paid the same amount in pesos or cryptocurrencies. Large sums of money are occasionally delivered straight to cartel stash houses by a Chinese partner in Mexico.

In Mexico, the brokers use unofficial trade networks to keep a regular supply of cash on hand. Purchasing expensive devices, associates in China, especially in Guangzhou, ship the devices to Mexico. Later, Mexican companies sell these products for less money, giving the cartels the money they need.

Unlike traditional methods, this Chinese money-laundering system doesn’t involve physically moving cash across borders. It’s safer, faster and cheaper, allowing Chinese brokers to charge the cartels less than other groups, thanks to their additional revenue stream from Chinese customers buying U.S. dollars.

DEA analysts identified individuals around the country by carefully examining these Chinese money-laundering networks between 2018 and 2020. It was found that a large number of them had a passing acquaintance with a specific Queens, New York, neighborhood. Plans were made to target more than 100 money launderers in various cities, but the COVID-19 pandemic and a surge in fentanyl deaths shifted federal focus to drug seizures and trafficker arrests.

Before the pandemic, investigators found that money-laundering organizations were also involved in the cannabis trade. The brokers in New York were buying properties in states such as California and Colorado to cultivate cannabis, which was then distributed to cities across the country. However, the DEA had largely ceased pursuing cannabis cases following a 2013 U.S. Department of Justice (DOJ) memorandum discouraging federal enforcement in states that had legalized cannabis.

Chinese groups seized control of the cannabis business from Mexican cartels, who had moved on to more lucrative substances such as fentanyl and heroin because there was less chance of prosecution. There are 23 states where Chinese-owned marijuana businesses are known to operate, and the money made from these operations is frequently used to finance additional crimes, including human trafficking.

Oklahoma has been a production center since 2021 due to its cheap land and lax medical cannabis legislation. More than 3,000 farms have been closed by local authorities, with 80%–90% of these farms being connected to Chinese organized crime.

Recently, Chinese manufacturers have moved to Maine, where it is thought that an estimated 100 illicit businesses are still in operation, although more than 40 have been shut down since January. According to former DEA agents, attempts to dismantle Chinese criminal networks have been hampered by the move away from marijuana charges.

Although there are no clear connections between marijuana businesses and the Chinese government, inquiries are still underway, according to a June testimony given by FBI director Christopher Wray. Meanwhile, a report by a bipartisan house committee revealed that the Chinese government supports the production of illicit drugs that are exported to the United States.

Chinese officials, however, deny these allegations. Liu Pengyu, a spokesperson for the Chinese Embassy, stated that China has been cooperating with U.S. antimony-laundering operations and emphasized that Chinese citizens are urged to follow local laws abroad.

While U.S. officials have long criticized China for inadequate cooperation in combating the drug trade, a recent exception occurred in June when federal law enforcement in California indicted 24 individuals, 9 of whom were Chinese nationals, for laundering $50 million in illegal drug proceeds for the Sinaloa cartel. One suspect, Peiji Tong, was arrested by Chinese authorities after fleeing the U.S. This indictment follows similar cases in North Carolina, Massachusetts, Virginia and Arkansas.

Even with these initiatives, congressional representatives and veteran DEA officers emphasize that much more work has to be done.

This issue of Chinese cartels cornering sections of the marijuana industry without being licensed to engage in commercial industry activities undercuts not only licensed cannabis companies but also ancillary entities such as Innovative Industrial Properties Inc. (NYSE: IIPR) that are denied an opportunity to serve more legitimate businesses since the market is being cornered by these illicit actors.

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