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 — Study Says Marijuana Won’t Enhance Performance But Will Make Exercising More Fun

A new study has found that smoking marijuana prior to a workout can make exercise more enjoyable and boost a person’s motivation. The study, which involved 42 volunteer runners, released its findings almost a decade after Colorado became the first state in the United States to offer legal sales of recreational cannabis.

The investigators took survey data and fitness measurements then assigned each volunteer a dispensary where they could pick a flower strain that contained mostly THC or CBD. Cannabidiol (CBD) and tetrahydrocannabinol (THC) are two of the primary compounds found in marijuana. Unlike TH, CBD doesn’t induce any high.

The volunteers had to go for follow-up visits where they ran on a treadmill for half an hour at a moderate pace. They also answered questions to evaluate how much they were enjoying themselves, how motivated they felt, how fast time seemed to pass, how hard the workout felt and if they felt any pain. The runners wore safety belts while running on the treadmill during the study period.

Across the board, study participants reported more intense euphoria and greater enjoyment. The researchers observed that this heightened mood was greater in the CBD group as compared to the THC group, which suggests that athletes may derive some benefits to mood while using a CBD-dominant strain.

Laurel Gibson, the study’s first author, highlighted that the bottom-line discovery was that marijuana before exercise seemed to increase enjoyment and positive mood during exercise, regardless of whether one used CBD or THC. She further noted that THC products, specifically, could make one use more effort during exercise. Gibson is a research fellow with the Center for Health and Addiction: Neuroscience, Genes and Environment.

The study’s findings as well as prior research by the researchers go against stereotypes that link marijuana with idleness/laziness.

Professor Angela Bryan, the study’s senior author, stated that new tools were needed to try get more individuals to move their bodies in enjoyable ways. Bryan, who specialized in psychology and neuroscience, noted that if marijuana was one of these tools, then it needed to be explored, with both its benefits and harms being considered.

A prior survey on marijuana users conducted by Bryan’s research group determined that 80% of respondents had used the drug before or after exercise. Despite this, minimal studies have been done looking into the link between marijuana and exercise.

The study’s findings were published in the “Sports Medicine” journal in December 2023.

Some prohibitionists have always asserted that marijuana is a performance-enhancing drug, but the cannabis industry and companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) may not be surprised that research has shown that the substance only improves one’s mood and not the workout itself.

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

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Set to Expedite Human and Animal Studies on DehydraTECH’s Effectiveness on GLP-1 Drugs Following Positive Results from Pilot Study

  • Lexaria, a global specialist in drug delivery platforms, just announced the final results from its recently completed human Pilot Study #1 on the effectiveness of its patented DehydraTECH(TM) technology on the oral delivery of GLP-1 drug, semaglutide
  • The results showed improved delivery of semaglutide to the bloodstream, with the drug showing approximately 44% higher levels than the control 24 hours after ingestion of a single dose
  • DehydraTECH GLP-1 processed semaglutide also proved to be better tolerated than the control, with the latter resulting in some cases of moderate nausea and diarrhea
  • This milestone brings Lexaria closer to tapping into the diabetes and weight loss treatment market and sets the company up for what is expected to be its best year

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced the final results from its recently completed human Pilot Study #1 that sought to evaluate the effectiveness of its patented DehydraTECH(TM) technology on the oral delivery of the glucagon-like peptide-1 (“GLP-1”) drug semaglutide, available commercially in the branded product Rybelsus(R). The drug is approved by the Food and Drug Administration (“FDA”), given its role in promoting insulin production in the body, which ultimately reduces blood glucose (https://cnw.fm/nzOMg).

Most notable from its pilot study was the improved delivery of semaglutide to the bloodstream, which significantly improved blood sugar control. For one, in just 20 minutes after oral administration, the DehydraTECH GLP-1 blood semaglutide level was about 261% higher than that of the Control, a statistic that reflected the technology’s ability to deliver drugs into the bloodstream faster. In addition, 24 hours after the ingestion of a single dose, the DehydraTECH GLP-1 blood semaglutide levels were approximately 44% higher than the Control levels.

The Rybelsus control witnessed a large increase in blood-glucose levels after eating a standardized meal at the 240-minute mark and a standardized snack at the 360-minute mark. But the DehydraTECH processed Rybelsus continued to reduce blood glucose even after eating. In addition, even as long as 24 hours after dose administration, Lexaria’s DehydraTECH GLP-1 showed a 5.01% reduction in blood glucose level relative to baseline, an indicator of greater efficacy in achieving blood glucose reduction, and helping attenuate the postprandial spikes in blood glucose experienced in the control group.

DehydraTECH GLP-1 processed semaglutide also proved better tolerated than the Rybelsus tablets, with the latter resulting in instances of moderate nausea and moderate diarrhea.

Lexaria first announced its intention to explore DehydraTECH’s effectiveness on GLP-1 drugs in September 2023. From the beginning, the goal was to achieve superior pharmacokinetic (“PK”) performance with the technology with reduced side effects and enhanced health benefits. With the just-released final results, Lexaria has achieved these objectives and more, ultimately setting itself up for additional human and animal studies in the 2024 calendar year.

This milestone brings Lexaria closer to tapping into the diabetes treatment market, valued at $92.97 billion in 2023 and projected to reach $118.77 billion by 2028 (https://cnw.fm/sjBsw). It also marks an excellent start to the new year 2024, propping the company up for what will be its best year yet. Lexaria is already preparing for other human and animal studies to continue, details of which will be shared in the coming weeks.

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

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

About CannabisNewsWire

CannabisNewsWire (“CNW”) is 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 — Florida GOP Lawmaker Proposes Bill to Restrict THC potency If Voters Approve Recreational Marijuana

With the prospect of a potential November vote in Florida on cannabis legalization, a GOP legislator, Representative Ralph Massullo, has introduced a measure that would establish strict restrictions on THC potency in the event of voter approval. Introduced last week, Massullo’s measure suggests a THC cap significantly lower than the prevailing limits in most cannabis markets.

The proposed limitations would become effective 30 days after voters endorse any future constitutional amendment endorsing legalization. The measure proposes a 10% THC limit for smoking-related marijuana products and a 60% limit for other cannabis products, such as extracts. The highest amount of THC allowed in edibles under this legislation would be 200 milligrams, with a 10-milligram cap on each serving.

Such stringent limits could pose significant challenges in commerce and logistics within the potential recreational cannabis market, likely drawing backlash from stakeholders, advocates and consumers. Notably, the average THC content in marijuana flower sold at recreational or medical dispensaries usually ranges between 20% and 30%. This mirrors the existing scenario in the state’s medical marijuana market, where the measure’s focus on “recreational use potency limits” may create complications by establishing different THC regulations for recreational consumers and patients.

Contrastingly, Florida’s current medical marijuana dosage limits, revised in 2022 amid some controversy, do not depend on THC percentage. The bill introduces a complex definition of potency, specifically addressing cannabis dispensed to a caregiver or patient in terms of relative cannabinoid strength and total THC content.

The bill seems to specifically target the impending legalization vote initiative awaiting the outcome of the state’s Supreme Court ruling. A legal challenge against the reform put up by Smart and Safe Florida, which gathered almost a million signatures to qualify for the ballot, is being led by the state’s attorney general, Ashley Moody. Even though the court heard oral arguments in November, its position on the initiative is still unknown.

Crucially, the ballot measure itself does not establish THC potency limits. Therefore, Massullo’s bill could potentially preempt the initiative, preventing voters from deciding on the matter independently. This legislative strategy is reminiscent of moves made by Ohio GOP legislators after voters approved a recreational cannabis legalization bill. In Ohio, efforts are underway to amend the marijuana law significantly, with similar discussions about implementing THC potency limits.

Meanwhile, a Florida GOP senator filed a measure last month that would permit approved medical cannabis companies to qualify for tax deductions from the state otherwise not allowed at the national level due to code 280E.

The struggle for reforms isn’t only playing out in Florida. Even jurisdictions where companies such as Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) have their own issues and efforts to bring incremental improvements are underway.

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 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 — UFC Officially Strikes Cannabis Off List of Banned Substances

During the last week of December, the Ultimate Fighting Championship (UFC) announced that was formally eliminating cannabis from its list of banned substances for athletes. The change in policy, which took effect on Dec. 31, 2023, also involves entering into a partnership with Drug Free Sport International, its sample collection and shipping company.

The UFC also revealed that it was amending its list based on historical findings, despite stating that it was modelling its list of prohibited substances after the World Anti-Doping Agency.

In 2021, the UFC adopted a policy change that protected professional fighters from penalizations over positive THC tests.

In a press release, UFC’s Hunter Campbell stated that the organization’s objective was to have the best, most progressive and most effective antidoping program in all professional sports. Campbell, the organization’s chief business officer, added that the organization would continue independently administering its drug-testing program, which ensured that all UFC athletes competed under equal and fair circumstances. He also highlighted that the organization was proud of the advancements it has made with its antidoping program over the last eight years.

Jeff Novitzky, senior VP of Athlete Health and Performance at UFC, stated that the updated program was the result of years of trial and error by the organization as well as the incorporation of input. Novitzky added that the antidoping policy was a document that would continue adapting and evolving as science supported changes that could further protect athletes that competed in UFC.

As the legalization movement grows across the country, a growing number of sports organizations are moving to amend their cannabis testing policies for athletes. For instance, the National Basketball Association and its players’ union signed a collective bargaining agreement in June 2023 that involved the removal of cannabis from the league’s list of banned substances and laid out rules permitting players to promote marijuana brands and invest in them, with some exceptions.

In July, the New York Media Softball League announced that it was launching a sponsorship deal with Cornbread Hemp, a CBD company based in Kentucky. The idea behind the collaboration was inspired by moves by teams such as the Chicago Cubs and Kansas City Royals as well as Major League Baseball, which have also partnered with CBD businesses.

In September 2023, a National Collegiate Athletic Association committee gave its formal recommendation that divisional governing bodies eliminate marijuana from the banned substances list for college athletes. That same year, sports regulators in the state of Nevada voted to present a proposed regulatory amendment to the governor that would shield athletes from penalties over the possession or use of cannabis in compliance with state law.

The changing attitudes of sports bodies toward cannabis could help to remove concerns that some sections of the society may have had about this substance, and as the uptake of marijuana increases, ancillary companies such as Innovative Industrial Properties Inc. (NYSE: IIPR) could do more business with marijuana industry actors looking to meet the growing customer demand.

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 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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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Extensive GLP-1 Study Program

Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug delivery platforms, today unveiled a comprehensive planned applied research program to thoroughly evaluate DehydraTECH for the improved delivery of GLP-1 drugs, designed to support prospective commercial partnering with global pharmaceutical companies. In a recent human pilot study with seven volunteers, Lexaria demonstrated superior pharmacokinetic (“PK”) oral delivery performance of the DehydraTECH-enhanced glucagon-like peptide-1 (“GLP-1”) drug semaglutide, available commercially in the branded product Rybelsus(R). The positive results were sufficient to encourage a much more thorough and expanded investigation. The objective of the new planned studies, as detailed in the announcement, is to help determine the commercial applicability of DehydraTECH to at least three GLP-1 drugs (semaglutide, liraglutide and tirzepatide), which together produced billions in revenue to their owners as reported in recent financial statements.

To view the full press release, visit https://cnw.fm/ZGC7x

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 38 patents granted and many patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

About CannabisNewsWire

CannabisNewsWire (“CNW”) is 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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CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces Business Update, Milestones

InMed Pharmaceuticals (NASDAQ: INM), a leader in the manufacturing, development and commercialization of rare cannabinoids and proprietary cannabinoid analogs, today outlined key accomplishments from 2023 and provided key strategic priorities for 2024. “In 2023, we experienced significant progress in both InMed’s pharmaceutical drug development and in BayMedica’s health and wellness initiatives. Our primary accomplishments throughout the year included a number of key milestones, such as the completion of a phase 2 clinical trial and the launch of two new preclinical programs targeting the treatment of Alzheimer’s disease and age-related macular degeneration (‘AMD’),” said Eric A. Adams, InMed president and CEO. “As we embark on 2024, we are placing increased emphasis on proprietary small molecule drug development candidates in our pharmaceutical pipeline with two exciting new programs addressing critical unmet medical needs. Firstly, INM-901 for the treatment of Alzheimer’s disease is showing promise via multiple mechanisms of action, including an increase in neuroprotection and an improvement in neuronal function via neuritogenesis. Secondly, INM-089 for the treatment of AMD appears to play a role in the preservation of retinal function, proactively protecting the retinal cells that are responsible for vision. Our focus on developing proprietary cannabinoid analogs over the past two years has started to pay dividends, evident in their utilization in these two new preclinical programs.”

To view the full press release, visit https://cnw.fm/I1QjW

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the manufacturing, development and commercialization of rare cannabinoids and proprietary cannabinoid analogs. Together with its subsidiary, BayMedica, InMed has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. It is a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients that may benefit from cannabinoid-based pharmaceutical drugs. For more information, visit www.InMedPharma.com.

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

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 — Study Says Most Cancer Survivors Using Cannabis See Significant Symptom Relief

A recent study involving 1,886 individuals who have battled cancer revealed that almost one-half of them, at some point, have utilized marijuana, either currently or in the past. Among those who turned to cannabis postdiagnosis, the primary motive was to alleviate symptoms such as pain and sleep disturbances. Notably, approximately 20% of cancer survivors currently resort to marijuana for relief from symptoms while actively undergoing cancer treatment.

The study, published in the “Cancer Survivorship Journal,” underscored the noteworthy prevalence of marijuana use among those who have conquered cancer. A majority of respondents reported significant improvement in symptoms for which they employed cannabis.

Out of all respondents, 17.4% identified as active marijuana users, 30.5% as past users and 52.2% as noncannabis users. Among the 510 participants who turned to marijuana following their cancer diagnosis, 60% used it for sleep issues, 51% for pain management, 44% for stress, 33% for nausea, and 32% for depression or mood disorders. Additionally, one-fifth of survivors used it as part of their cancer treatment.

Most participants expressed that cannabis effectively addressed their symptoms, with 73.6% finding it greatly effective 24.4% deeming it somewhat effective. A minimal percentage, 1.9%, reported little or no efficacy across various symptoms such as sleep deficiency, pain, appetite, nausea and depression.

Regarding cancer treatment, responses were marginally less enthusiastic. The study reported that 47.7% perceived cannabis as significantly effective, 34.5% found it somewhat effective, 13.8% believed it provided very little help and 4% declared it not helpful at all.

The authors also discovered a low awareness of potential health risks associated with marijuana use, with only about 9% of respondents aware of such risks when asked about them during their cancer treatment. Among the 167 survivors who acknowledged cannabis’ potential health risks, awareness of adverse effects remained low: only 5% were aware it could trigger suicidal thoughts, 6% on intense nausea and vomiting, 11% on depression, 14% on anxiety, 31% on breathing problems, and 35% interference or interactions with cancer treatment.

Given the possibility that individuals may employ marijuana without full knowledge of its potential side effects, the authors advocate for incorporating discussions about therapeutic marijuana into a patient’s comprehensive treatment plan.

This study unfolds amid heightened anticipation within the medical community and beyond, awaiting a decision from the U.S. Drug Enforcement Administration (DEA) on the rescheduling of cannabis under the federal Controlled Substances Act. While not legalizing medical or recreational cannabis federally, rescheduling could pave the way for FDA approval of marijuana-based drugs and provide tax deductions for medical cannabis entities.

As more studies highlight the therapeutic potential of marijuana, companies such as Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) could tweak their offerings to better address specific groups of medical marijuana consumers.

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 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 — Retailer Goes to Court Over California’s Cannabis Excise Taxes

Catalyst Cannabis Co., a major marijuana dispensary chain in California, has initiated court action against an emergency rule alteration implemented by state tax authorities in December. The company, operating under the name HNHPC Inc., went to court on Dec. 28, 2023, in the Superior Court of Orange County.

The suit alleges collusion between the state’s fee administration and tax department and the Administrative Law Office, accusing them of two key violations: imposing excise levies on nonmarijuana products such as accessories and exploiting emergency regulatory powers to hastily enforce retroactive regulations without sufficient notice to affected companies.

The crux of the legal challenge revolves around the interpretation of excise taxes on various elements of marijuana products. Taking a vape cartridge as a primary example, the suit claims that excise taxes should exclusively affect the marijuana oil, excluding the entire item, including the packaging and pen mechanism. This exemption would only apply if the vendor itemizes charges for both the marijuana oil plus the nonmarijuana components.

Under this approach, the retailer would only pay the 15% excise tax on the oil, typically valued at around $5, leading to a tax of only 75 cents. Catalyst Cannabis Co., based in Long Beach, California, has been employing this method to calculate excise taxes for more than a year, according to company executives and court documents.

As one of the state’s major cannabis operators, with 25 stores located mainly in Southern California, Catalyst is challenging the state regulators’ position outlined in Emergency Regulation 3802. According to this regulation, excise taxes should also cover “optional tangible personal property.” The broader definition encompasses the entire vape device, packaging and associated components. Consequently, under the state’s directive, a $40 vape pen would incur a $6 excise tax, which is eight times the tax applied solely to the oil.

Catalyst CEO Elliot Lewis, a vocal critic of the state’s marijuana regulations, expressed confidence in the lawsuit’s success. Lewis anticipates that overturning Regulation 3802 could potentially redirect millions back to the both marijuana industry and consumers.

Lewis has received supportive calls from fellow marijuana operators and foresees a ripple effect with other retailers reevaluating their excise tax calculations. He believes that by the second quarter of 2024, excise levy submissions to the state will reflect this recalibration, projecting a significant reduction from an estimated $600 million to around $200 million annually.

In Lewis’s view, the judicial intervention presents a crucial opportunity for relief and reform in the marijuana industry, emphasizing the potential impact on both industry finances and consumer costs.

The outcome of this lawsuit will be of interest to cannabis companies such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) because it could pave the way for similar legal challenges in other jurisdictions where the same formula is used to levy taxes on cannabis products.

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 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 — Trend of Looking Beyond High THC in Cannabis to Gain Traction

As cannabis strains have become increasingly potent over the years, THC potency has become a major determining factor for consumers when they buy cannabis products. Brands have invested heavily in R&D efforts to develop more potent strains, and they regularly display high potency as one of their products’ selling points.

Even though potency will continue to be a primary determining factor for the majority of consumers, secondary factors will also affect how cannabis genetics trends in 2024 across the country. Aside from high-THC genetics, experts on high-yield cultivars say that cannabis consumers are becoming increasingly interested in factors such as terpene profiles, minor cannabinoids and legacy strains bred with high-THC marijuana strains.

While THC is the most prominent compound in the cannabis plant, it is just one of more than 100 cannabinoids produced by plants in the cannabis family, including marijuana and hemp. Aside from THC, cannabis has tons of other cannabinoids, such as the well-known CBD (cannabidiol) and lesser-known ones such as CBN and THCV, which are starting to gain attraction.

On top of cannabinoids, marijuana also produces a plethora of terpenes that are responsible for the flavors, aromas and colors of different cannabis strains.

Some research has found that when cannabis plants are taken in their entirety with the complete profile of terpenes, they trigger an “entourage effect” that pronounces the effects of all the different compounds in cannabis as they interact.  These factors will likely become more prominent in the future as America’s state-legal cannabis market grows and matures.

In the meantime, however, potency is still the main determining factor for most consumers when they walk into a cannabis dispensary. Reggie Harris, cofounder and CEO of House of Kush, a genetics company located in Missouri, says some of the dispensaries his company works with have reported that they don’t want cannabis with less than 25% THC or will only purchase those lower levels at lower prices.

Harris notes that even though people are fond of legacy cannabis strains such as OG Kush and Bubba Kush, high-THC strains attract the most customer attention. House of Kush specializes in producing such legacy strains and has started crossbreeding them with other genetics to increase their potency while maintaining their legacy genetics. These types of genetics could be a major hit this year because they are still recognizable to most customers yet contain higher potency levels.

Terpenes such as myrcene and limonene as well as minor cannabinoids such as THCV and CBN may also determine consumers’ cannabis purchasing decisions moving forward. Leading enterprises such as Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED) could be looking for ways to leverage this change in consumer preferences.

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 — Armed Services Personnel, Families, Veterans Support VA Doctors Recommending Cannabis

A survey from The Ohio State University (OSU) has found that a majority of active armed services personnel and retired veterans, as well as their families, believe Veteran Administration (VA) doctors should be allowed to recommend psychedelics and medical marijuana to patients who stand to benefit from these treatments.

OSU researchers surveyed active-duty military personnel, veterans, their families, and even nonmilitary respondents from late August to early September 2023 on their thoughts about making medical marijuana and psychedelics accessible as treatment options. The 1,168 participants surveyed for the poll included 315 active as well as retired members of the military, 426 individuals from military families, plus 427 people outside the military.

Researchers say that due to the huge caseload of health problems in the veteran society plus the necessity of a variety of treatment alternatives for retired military service members, some scientists are exploring if and how veterans should access alternative treatments such as cannabis and psychedelics.

Medical marijuana has been around for more than two decades and is now legal in dozens of states across the United States. Several studies have found that the controversial plant has numerous potential health benefits and can help alleviate the symptoms of conditions that typically affect veterans, including anxiety disorders and chronic pain. However, VA doctors aren’t technically allowed to recommend medical marijuana to their patients because they are limited to prescribing medications that are approved by the U.S. Food and Drug Administration (FDA) for medical use.

Study authors also noted that studies on veteran issues rarely explore how veterans’ perspectives on specific drug issues in relation to the views held by individuals within their immediate plus broader communities.

The recent study drew its participants from the volunteer American Population Panel and asked those participants whether they were in agreement with a quartet of statements regarding cannabis and psychedelics. The last statement said that VA doctors should be able to recommend both marijuana and psychedelics if they believe their patients could benefit from them due to the “unique hardships and health conditions” veterans experience.

The majority of all the three groups surveyed said both drugs can be efficacious therapies. Even more stated that VA physicians should be permitted to recommend them to patients who may benefit. Additionally, all groups supported the idea that VA doctors shouldn’t need the FDA’s approval to recommend either psychedelics or cannabis.

The results of this survey underscores what the broader cannabis industry, including leading entities such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) have always believed,  that marijuana could benefit in one way or the other nearly every section of the population that is struggling with health issues.

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 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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