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 — Schumer Sends Out Petition Urging Public to Express Support for Cannabis Banking Legislation

Chuck Schumer, the Senate Majority Leader, is rallying public support for a bill focused on facilitating banking services for cannabis-related businesses through an online petition. In a recent communication concerning this endeavor, he reaffirmed his stance in favor of a comprehensive federal legalization of marijuana.

In the wake of continuing congressional discussions on budgetary appropriations, the SAFER Banking Act has come back into focus. Schumer, in an email communication, highlighted the challenges faced by state-licensed marijuana businesses in accessing banking facilities nationwide.

Schumer paints a picture of the predicament faced by these businesses, unable to access basic financial services such as credit lines or deposits due to the federal illegality of cannabis. Consequently, they are compelled to manage substantial cash reserves, a situation fraught with risks. Financial institutions remain wary of engaging with such enterprises given the conflicting legal landscape.

Further, he emphasizes the urgency of supporting the SAFER Banking Act to address these immediate concerns, employing a common tactic of online petitioning to galvanize support, leveraging it as a means for list-building and potential campaign fundraising.

Signatories are directed to a questionnaire probing their awareness of the marijuana banking issue, shedding light on the extent of the problem. The messaging underscores Senate Democrats’ commitment to assisting small businesses and rectifying the unjust legal status of cannabis. It solicits support to uphold the Democratic Senate Majority, hinting at donation avenues for those inclined to contribute.

The fate of the bill now rests with Schumer’s leadership. While the banking committee in the Senate endorsed the bipartisan measure months ago, its progression to the Senate floor hinges on scheduling. Nonetheless, there’s a palpable optimism among legislators regarding the measure’s prospects, buoyed by ongoing bicameral discussions.

Sherrod Brown, Chair of the Senate Banking Committee, has signaled the Act’s priority status despite acknowledging the complexities posed by prevailing House dynamics. Similarly, Tom Emmer, the House Majority Whip, although not a vocal advocate for marijuana reform, expressed a desire to advance the banking bill during a recent industry summit.

Disagreements over nonmarijuana provisions within the measure have stalled its advancement. Nevertheless, bicameral negotiations persist, with indications pointing towards an imminent resolution. Prominent sponsors from both parties have reaffirmed their commitment to shepherding the bill through Congress. Senator Maria Cantwell recently joined as the 36th cosponsor of the measure, further solidifying support within the chamber.

Should the bill proceed to the Senate this year, amendments are expected. Schumer has hinted at the possibility of incorporating provisions relating to gun rights for marijuana consumers and state-legal marijuana expungements.

The cannabis industry, including leading companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) has long yearned for equal access to banking services in the way that other legitimate businesses access these services, but it looks like it may take a while for the needed legal reforms to be enacted at the federal level.

About CNW420

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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

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Building a Prosperous Future, Zoned Properties Inc.’s (ZDPY) Direct-to-Consumer Design in Cannabis Real Estate

  • Zoned Properties is a leader in cannabis real estate development, with a sophisticated PropTech stack to spearhead a direct-to-consumer real estate model
  • Zoned Properties reported a net profit of $114,523 during the quarter ended September 30, 2023
  • ZPDY has listed a property for sale at a price of $16 million, non-dilutive capital that will be used to continue to fund growth

The cannabis industry is experiencing explosive growth, but its infrastructure often lags behind. Green Zones – compliant locations and properly permitted real estate – are part and parcel to unlocking the industry’s full potential. This focus not only fuels the industry’s expansion by providing investment-ready properties, but also underscores a commitment to fostering responsible growth through community-focused infrastructure. Technology-driven companies like Zoned Properties (OTCQB: ZDPY) are playing a vital role as stewards of this green revolution.

Sowing Fertile Financial Ground

Zoned Properties’ acquires value-add real estate within the regulated U.S. cannabis industry with selective development innovation and aspirations to spearhead direct-to-consumer real estate leased to best-in-class cannabis retailers. The aptly named company has a deep understanding of all the hurdles and potholes to opening compliant cannabis operations and is now redefining the approach to commercial real estate investment through its standardized investment process backed by its proprietary property technology.

In its efforts, the company has developed a national ecosystem of real estate services to support its real estate development process, including a commercial real estate brokerage and a national real estate advisory practice. Zoned Properties is a non-plant touching company, meaning it does not engage in any cannabis cultivation, distribution, manufacturing or sale or any federally regulated products, focused only on the requisite real estate and consultation services.

Bridging Gaps

Traditional financial institutions historically have been hesitant to invest in cannabis ventures due to regulations keeping marijuana illegal at the federal level although legal in some form (fully, medical, decriminalized, or CBD with THC) in 46 states. Zoned Properties helps assuage fears and bridges gaps by supporting green spaces that cater specifically to the needs of cannabis businesses.

Beyond financial and operational hurdles, cannabis businesses must navigate a labyrinth of regulatory complexities, especially when it comes to real estate requirements.

Bryan McLaren, Chairman and CEO of Zoned Properties, is uniquely qualified in sustainable and local cannabis real estate development. He has been certified as a Licensed REALTOR, Green Roof Professional, LEED Green Associate, and has been an active Forbes Contributor as part of the Forbes Real Estate Council. LEED (Leadership in Energy and Environmental Design) is the gold standard in sustainability, with certification exemplifying expertise in sustainable building and operations principles and a commitment to making places healthier, greener, and more equitable for all.

This type of leadership attracts established players seeking to scale up and creates opportunities for smaller businesses to enter the market with confidence. A cascade effect emerges. Well-located and compliant facilities become magnets for investment, unlocking capital for further development and propelling industry-wide growth.

Funding for New Dispensaries

Zoned Properties is a bit of an anomaly in the OTC world. For starters, in the quarter ended September 30, 2023, ZDPY reported $720,450 in revenue and $114,523 in net income. The company not only has revenue, profits, and impeccable management, it has a portfolio to support growth without diluting shareholders. For instance, this month the company listed its cultivation property in Chino Valley, Arizona for sale at a purchase price of $16 million. As management prioritizes a direct-to-consumer real estate strategy, the legacy property is deemed non-core and slated for sale. “We believe that this strategic shift will position us to capitalize on the growing demand for retail dispensary properties in the cannabis real estate industry with strong cap rates creating long-term shareholder value,” said McLaren in a news release on the listing.

The company can allocate the capital for new opportunities, such as the transaction ongoing in Arizona. Zoned Properties is under contract to acquire an investment property in Surprise, Arizona after initial site work being completed by the selling developer. The company has parlayed that into revenue, via a long-term, absolute-net lease agreement with a best-in-class Arizona cannabis company, Sunday Goods, to operate a retail dispensary. An absolute-net lease agreement, also known as a triple-net lease (NNN lease) with a twist, is a commercial lease agreement where the tenant shoulders a significant burden of the property’s expenses.

Zoned Properties has centralized its properties so far to Arizona, Michigan, and Illinois, with intentions to expand the domain in 2024. The company can boast a 100% occupancy and a weighted average lease term over 10 years with a commercial cannabis tenant. Rental revenue is expected to exceed $2.5 million this year.

For more information, visit the company’s website at www.ZonedProperties.com.

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

About CannabisNewsWire

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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (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: https://www.CannabisNewsWire.com/Disclaimer

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420 with CNW — Another Federally Backed Study Finds Recreational Marijuana Legalization Doesn’t Increase Youth Use

A recent study supported by federal funds has found no clear link between the legalization of cannabis for adult use and an increase in its consumption among middle schoolers.

To investigate the impact of legal sales on youth usage, researchers conducted a comparative analysis of middle-school usage rates in New Mexico and Nevada, utilizing data from state-conducted surveys in 2017 and 2019. Notably, during this period, Nevada permitted adult-use cannabis sales while New Mexico restricted its use to medical purposes only.

Across both states, the study uncovered rises in the percentages of middle schoolers who had experimented with marijuana and those who reported using it within the past month.

In Nevada, the proportion of students admitting to ever trying marijuana increased from 9.7% in 2017 to 13.3% in 2019. Similarly, past 30-day usage surged from 6.3% to 8.9%. Meanwhile, in New Mexico, lifetime usage rose from 14.1% to 17.4%, with past 30-day usage climbing from 8.9% to 10.5%.

Despite these concerning trends, researchers refrained from directly attributing the rise to legalization. They stated that they didn’t discover convincing evidence linking cannabis legalization with an immediate spike in use among middle school students in Nevada, which is consistent with earlier research.

However, they deemed the general rise in cannabis use among middle-schoolers in both New Mexico and Nevada within the said period troubling due to the known health risks associated with early initiation of cannabis use.

The study, which was supported by a grant from the National Institute on Drug Abuse (NIDA), involved cooperation between researchers from the New Mexico Health Department and the universities of New Mexico and Nevada. Analysis across the two states revealed that female students, individuals of nonwhite ethnicity and those attending low-income Title I schools exhibited higher likelihoods of both past 30-day and lifetime marijuana usage.

The authors suggested that their findings were consistent with existing literature, which suggests that cannabis usage might serve as a coping mechanism for discrimination and poverty, with adolescent females increasingly reporting higher usage rates compared to males.

In terms of policy implications, the study underscored the importance of targeting prevention efforts toward groups at heightened risk rather than solely focusing on the legal status of cannabis for adults.

However, the researchers acknowledged certain limitations of their study, including the inability to account for the potential influence of neighboring states with differing marijuana policies, such as California and Colorado. Additionally, the study did not delve into the frequency of usage or changes in marijuana use disorder.

Several studies have been published dispelling the misconception that cannabis legalization permitting companies such as SNDL Inc. (NASDAQ: SNDL) to operate results in more teens accessing marijuana products. The data is consistent in showing that this isn’t the case.

About CNW420

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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

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NECANN Maryland Cannabis Convention & Expo 2024, Baltimore, MD

Entrepreneurs, influencers, advocates, patients, investors, service providers, educators, and consumers of the cannabis spectrum, are all invited to attend the first-ever Cannabis Convention of Maryland that focuses on networking, learning, and discovering new cannabis products and services for the greater Maryland community.

NECANN organizes the foremost cannabis events, with a robust platform for cannabis enthusiasts to connect with industry experts and peers, presenting critical knowledge to expand businesses. NECANN has offered growth opportunities to the local communities throughout the northeast and beyond since 2014. It has boosted the cannabis economy by creating a hub of resources and communication available to the local markets.

Traders and service providers from the Maryland community can exhibit their products and services to gain visibility among the investors and key business experts of the cannabis industry. They can showcase their unique products at the exhibitor booths and pitch their businesses and products directly to investors, consumers, and others. Newbies quickly expand their knowledge base by connecting with industry veterans visiting the convention.

The attendees will witness an impressive lineup of powerful speakers and industry leaders. They will share useful insights about the current industry trends and important issues of the cannabis trade. These industry veterans will discuss engaging topics that impact & concern the cannabis community in Maryland.

The dedicated NECANN team works hard to give the attendees a wholesome and productive experience of networking, with meaningful exchanges among the attendees. Available information includes myriad topics covering every aspect of the cannabis industry, ranging from inventory, legal issues, packaging, insurance, regulations, security and testing, to cultivation, marketing, and more.

The Maryland Cannabis Convention & Expo promises to be a one-of-a-kind experience, where the cannabis community explores, discovers, and exchanges must-know information about the business of cannabis.

To know more, please visit https://cnw.fm/FR68o

About CannabisNewsWire

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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (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: https://www.CannabisNewsWire.com/Disclaimer

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420 with CNW — New York to Evaluate Struggling Cannabis Industry as Hiccups Allow Illicit Market to Flourish

Kathy Hochul, the governor of New York, has issued an order to reassess the state’s adult-use cannabis licensing program due to various setbacks. Those hurdles, including lawsuits and administrative challenges, have not only stood in the way of the legal marijuana market but have also led to the proliferation of illicit sellers.

The assessment aims to identify ways to expedite license processing and facilitate quicker business openings. Additionally, the assessment will conduct a comprehensive review of the state’s Office of Cannabis Management’s (OCM) organizational structure and procedures.

Hochul, a member of the Democratic Party, has openly complained about the launch process of recreational cannabis in the state, referring to it as a failure. Since the commencement of sales in 2022, just a little more than 80 legal dispensaries have been established.

The initial phase of the legalization law allocated retail licenses exclusively to nonprofit organizations and people with previous cannabis-related convictions. Additionally, it introduced a $200 million equity fund aimed at assisting applicants adversely impacted by the drug war in setting up dispensaries.

However, the licensing procedure encountered legal obstacles and implementing the equity fund faced delays, thereby impeding the legal marijuana market from thriving. Consequently, unauthorized dispensaries began to emerge throughout the state, particularly in New York City. The situation became so problematic that Hochul requested online platforms such as Yelp and Google refrain from listing these illegal establishments.

Despite efforts to regulate the market, the regulatory bodies struggled to cope with the overwhelming number of license applications. The OCM, responsible for processing licenses, has only 32 employees dedicated to reviewing applications, while it has received about 7,000 applications last year.

This decision to review the program came shortly after a senior official at the agency was sent on administrative leave after allegations from the NY Cannabis Insider that the agency had exhibited biased enforcement practices, particularly targeting a cannabis processor. Commissioner Jeanette Moy of the Office of General Services, along with other state officials,  will spend at least 30 days immersed in the agency as part of the assessment process. Together, the team will develop plans to improve the agency’s operations and set performance standards for subsequent projects.

OCM’s executive director, Chris Alexander, acknowledged the progress made in building an equitable marijuana market but emphasized the need for improvement in the agency’s operations. He expressed confidence in Moy’s leadership abilities and her capacity to steer the agency in the right direction.

The delays in having a flourishing legal marijuana market in New York is potentially stifling opportunities for local ancillary companies operating similar to Innovative Industrial Properties Inc. (NYSE: IIPR) that would have sprouted and carved out a niche for themselves in this state.

About CNW420

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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (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: https://www.CannabisNewsWire.com/Disclaimer

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Astrotech Corp. (NASDAQ: ASTC) and AgLAB Inc. Use Mass Spectrometer Technology to Significantly Enhance Hemp and Cannabis Production Yield and Profit

  • The cannabinoid market value in 2023 was $22.23 billion and is expected to grow at a CAGR of 15.3%, resulting in an estimated market value of $60.36 billion
  • The global mass spectrometry market will reach $6.77 billion in 2024 and is expected to grow at a CAGR of 6.25%, reaching $9.17 billion by 2029.
  • Astrotech and subsidiary AgLAB Inc. are using mass spectrometry to boost the profitable yield of hemp and cannabis production

The United States has seen a rising awareness of the health and therapeutic benefits of cannabinoids, prompting an expected market increase of 15.3%, from $22.23 billion in 2023 to an anticipated $60.36 billion by 2030 (https://cnw.fm/srapD). Focused on optimizing and improving higher yields, Astrotech (NASDAQ: ASTC), a science and technology development and commercialization company, and its wholly-owned subsidiary AgLAB Inc., have developed a mass spectrometer designed for use in the hemp and cannabis market.

During the process of converting cannabis biomass into distillate, valuable cannabinoids are typically lost resulting in reduced profits. AgLAB’s Maximum Value Processing (“MVP”) Method that uses the powerful AgLAB-1000-D2 mass spectrometer to test and to accurately configure the distillation system for optimal efficiency.

The AgLAB MVP mass spectrometer and its rugged design is built to withstand the demands of the factory floor. The AgLAB-1000-D2 model offers real-time potency tests during each distillation batch cycle.  During the distillation process up to 20 tests per hour can be achieved providing almost instant, real-time results which is used to adjust parameters, such as temperature, feed rate, and vacuum, to optimize potency and increase yields for each batch. Currently testing results can take days to complete resulting in little intelligence towards processing efficiency.

“This product and method fill a void by providing an easy and accurate real-time analysis that is used to make the right adjustments and improve the yields,” an AgLAB employee, was quoted as saying in a press release about AgLAB’s 1000 series (https://cnw.fm/G0nkA).

AgLAB’s method has been extensively tested and has shown impressive results, including increased revenue and profit margins. Internal studies have shown an average revenue improvement of $5,000 per 200 kg of crude, with a 24% profit increase. Furthermore, a case study revealed a 32.9% increase in distillate mass, translating to significant weekly and annual revenue gains.

For more information, visit the company’s website at www.AstrotechCorp.com.

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

About CannabisNewsWire

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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (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: https://www.CannabisNewsWire.com/Disclaimer

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420 with CNW — Colorado Bill Seeking to Silence Social Media Posts on Marijuana Raises Concern

A conservative think tank in Colorado has voiced worries about a proposed measure that could have an impact on internet discussions of cannabis and associated products, including hemp. The bill, SB24-158, covers various aspects of internet regulations, including content policies and age verification. A noteworthy clause in it targets social media companies, mandating that they immediately take down any content that sells, promotes or endorses narcotics that are considered illegal.

The definition of “illicit substance” in the bill is expansive, encompassing not just illegal drugs but also substances regulated in the state. It broadly refers to controlled substances categorized under schedules I to V as per state law. Consequently, the bill’s impact would extend to state-legalized cannabis, specific psychedelics legalized through a recent ballot measure, and even some over-the-counter (OTC) medications, including cough syrups containing controlled substances such as codeine.

Additionally, the measure places restrictions on the amount of THC and the ratio of CBD to THC in specific hemp products, imposing restrictions on hemp-derived products meant for human consumption.

Should the bill become law, businesses would be obliged to declare the prohibition of promoting, selling or advertising illicit substances on their social media platforms.

The R Street Institute has expressed concerns about the proposed legislation, claiming that its ambiguous language addressing marketing and the expansive categorization of illegal substances could cause misunderstandings and possible violations of free expression. It points out that the strict language in the measure may make it more difficult for people to openly express positive opinions about cannabis online or for companies involved in the marijuana industry.

Further, the institute argues that these kinds of limitations would be unconstitutional under the First Amendment since the state would have chosen to outlaw the promotion or advertising of these substances in all media if there were actual risks involved. Instead, it highlights Colorado’s history of embracing cannabis legalization and culture, citing examples such as the auctioning of cannabis-themed license plates with terms such as “GOTWAX,” “HASH” and “420.”

SB24-158, which is expected to be reviewed by the Senate Business, Labor and Technology Committee, is primarily supported by Democratic lawmakers, including Senators Dafna Michaelson Jenet and Chris Hansen, along with Representative Meghan Lukens.

Under the proposed legislation, social media companies would need to update and publicly disclose their policies by July 1, 2025. Any policy amendments would require prompt online publication within 14 days of going into effect. Additionally, the companies would be mandated to provide annual reports to Colorado’s state attorney general confirming compliance with the bill’s provisions regarding regulations and definitions of illicit substances.

The broader marijuana industry, including established entities such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), is likely to be concerned that retrogressive bills like the one is Colorado are being filed and considered.

About CNW420

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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (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: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
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420 with CNW — Las Vegas Consumption Lounges Usher in New Era for Cannabis Industry

The much-anticipated introduction of cannabis consumption lounges in Las Vegas has finally materialized, with almost 20 establishments reportedly nearing completion, according to regulators. Thrive Cannabis Marketplace opened its first licensed lounge next to its store, just off the renowned Las Vegas Strip, while Smoke and Mirrors Cannabis Lounge opened for business later, having passed the last site inspection by Nevada’s Cannabis Compliance Board (CCB).

For Reset, a marijuana hospitality company with offices in Las Vegas that offered advice to Thrive, the trip took around seven years, according to managing partner Chris LaPorte. The schedule was further extended by bureaucratic procedures, construction delays and regulatory obstacles. Furthermore, the COVID-19 pandemic severely hampered advancement.

However, the majority of these difficulties appear to be resolved now that multiple operators are awaiting CCB’s final certification to launch their consumption lounges. The anticipation surrounding the establishment of consumption spaces in Las Vegas has been building for years, with some having hoped to launch as early as 2022 and others last summer.

However, up until last month, the NuWu Cannabis Marketplace, situated on tribal land near downtown Las Vegas, stood as the sole legal lounge in Nevada.

The proliferation of lounges faced setbacks in 2023 due to stringent regulations concerning smoke ventilation, necessitating substantial investments in advanced HVAC systems by operators. The CCB eventually relaxed air-ventilation requirements for lounges in June 2023. Air quality worries in the industry appear to have since subsided.

Smoke and Mirrors took measures to minimize smoke within its premises, offering alternative consumption methods and premium accessories such as Stündenglass gravity bongs and Chill Steel Pipes. The lounge’s 1,200-square-foot space boasts mid-century modern décor reminiscent of classic Vegas aesthetics. Since its opening on February, it has attracted an average of 80 visitors daily, with an equal split between tourists and locals.

The lounge’s menu includes various products, including dabs, pre-rolls and flower eighths, priced between $20 and $75. Visitors are prohibited from bringing their own marijuana products or accessories into the lounge, and purchases cannot be taken outside the venue.

LaPorte highlighted the establishment’s focus on offering marijuana-infused mocktails, which have proven popular among patrons. The venue’s mocktail menu features marijuana-infused versions of classic drinks, with options ranging from 2.5 to 5 milligrams of THC, priced between $19 and $23.

An estimated 60 to 65 licenses were predicted to be granted when Nevada officials approved consumption lounge regulations in June 2022. As the countdown to 420 (April 20, 2024) approaches, numerous Nevada lounges are nearing final approval, with 18 businesses currently in the final stages of preparation.

Leading cannabis companies such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) are likely to keep a close eye on the way the consumption lounges transform the industry in Las Vegas because there may be valuable lessons to learn should this trend spread to other states and jurisdictions.

About CNW420

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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CannabisNewsBreaks – Golden Triangle Ventures Inc. (GTVH) Announces Renewed Partnership with IBN for Corporate Communication Support

Golden Triangle Ventures (OTC: GTVH), a multifaceted consulting company, is partnering with IBN, a financial news and publishing company for private and public entities, to assist with its corporate communications initiatives. IBN and GTVN have previously worked together in 2021, and IBN’s renewed involvement “signifies a paramount advancement toward its objective of maximizing shareholder value and adeptly conveying [GTVH’s] narrative and strategic initiatives.” IBN will generate greater awareness for Golden Triangle Ventures by fully utilizing its investor-based distribution network of more than 5,000 syndication outlets along with various newsletters, social media channels, wire services, blogs and other outreach tools. “As we embark on our most ambitious projects within GTV, we’re actively intensifying our collaboration with IBN,” said Golden Triangle Ventures CEO Steffan Dalsgaard in the press release. “Their outstanding performance and proven success in our prior engagement throughout 2021 unequivocally affirm our decision to reengage. We entrust IBN’s expertise to effectively amplify our achievements and bolster our presence as we are now undertaking some of the biggest projects of our careers.”

To view the full press release, visit https://ibn.fm/sicER

About Golden Triangle Ventures Inc.

Golden Triangle Ventures is a multifaceted consulting company, which operates as the parent business pursuing ventures in the health, entertainment and technology sectors along with others that provide synergistic value to these three core divisions. The company aims to purchase, acquire and/or joint venture with established entities within these areas of business. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors the company aims to do business in. Golden Triangle Ventures is highly focused on acquiring a well-diversified portfolio of companies under one umbrella, which are all managed and owned by the company. An amazing team of professionals support each division and continue to help Golden Triangle Ventures grow daily. For more information about the company, please visit www.GoldenTriangleInc.com.

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

About CannabisNewsWire

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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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: https://www.CannabisNewsWire.com/Disclaimer

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420 with CNW — VP’s Comments on Marijuana Suggest Campaign Shift on Legalization

Vice President Kamala Harris, speaking at the White House to a group of individuals who received pardons related to marijuana offenses, expressed her support for the legalization of cannabis, marking a potential change in the administration’s stance as the November elections approach. An attendee at the meeting disclosed Harris’s statement, which came after her public call for the DEA to expedite the rescheduling of marijuana.

Harris, who had previously advocated for cannabis legalization as a senator and during her 2020 presidential campaign, has not publicly championed the cause since joining President Joe Biden’s ticket. Throughout the campaign and her tenure as vice president, she has aligned herself with President Biden’s more moderate approach, focusing on ending cannabis-related incarceration and providing pardons for select offenses.

The White House hosted a diverse group for the discussion, including Governor Andy Beshear of Kentucky, rapper Fat Joe, and others, reflecting the administration’s efforts on marijuana clemency. Harris’s call for cannabis legalization, while made in private, marks a significant departure from the administration’s previous reluctance to embrace federal marijuana reform openly.

Despite the administration’s reluctance to endorse federal legalization, Biden has pardoned numerous individuals for federal marijuana possession and directed agencies to review marijuana scheduling.

In the public portion of the meeting, Harris emphasized the urgency of rescheduling cannabis, criticizing its current classification alongside drugs such as heroin. However, Harris acknowledged that rescheduling alone wouldn’t equate to federal legalization. She recognized the complexity of the issue and the need for further action beyond mere reclassification.

Although the White House recorded the closed-door discussion, including Harris’s remarks on legalization, no materials have been released yet.

Harris’s evolution on marijuana policy — from her prosecutorial days in San Francisco to her current support for legalization — reflects a nuanced journey. While the primary focus of the meeting was on the administration’s clemency initiatives, it also served as a strategic move to win over voters, particularly young voters, in light of the upcoming November elections.

Social media was recently abuzz with commentary about Biden’s congressional speech, in which he acknowledged his cannabis pardons and administrative actions. However, his mischaracterization of the pardons, implying they expunge records, could pose legal challenges for recipients.

Nonetheless, it seems Harris is taking on the role of spokesperson for the administration’s cannabis policy leading up to the elections, potentially benefiting both her and Biden’s campaigns.

Leading cannabis industry companies such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) are unlikely to be too excited by the statements attributed to the vice president because the industry has learned that it takes a lot more than opinions to enact reforms at the federal level, especially on matters of drug policy.

About CNW420

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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (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: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

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