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 — Former White House Drug Chiefs, DEA Heads Warn that Rescheduling Cannabis Would ‘Supersize’ Marijuana Industry

Five former White House drug chiefs and six former heads of the U.S. Drug Enforcement Administration (DEA) have warned the Biden administration that rescheduling marijuana would “supersize” the country’s cannabis industry. The former White House drug czars and DEA heads sent current DEA administrator Anne Milgram and Attorney General Merrick Garland a letter stating their opposition to the U.S. Department of Health and Human Services (HHS) recommendation that the DEA reschedule marijuana.

The HHS made the recommendation in August, nearly 11 months after President Joe Biden ordered the health agency to begin a review of marijuana’s federal status. Federal law currently classifies cannabis as a Schedule I drug with an incredibly high potential for abuse and no accepted medical use, similar to drugs such as heroin and cocaine.

Given that a multitude of studies have proven that cannabis does have medical applications and dozens of states have legalized the plant for medical use, President Biden and the HHS believed a review of cannabis was in order. However, a letter sent to the DEA administrator and the U.S. attorney general noted that moving cannabis from Schedule I to Schedule III would have the potential to supersize America’s cannabis industry through the provision of tax relief and normalize the market even further.

Furthermore, the letter noted that rescheduling cannabis and limiting criminal penalties for trafficking would eliminate a crucial tool used by federal agents to prosecute drug cartels.

That claim is contested by legal experts who point out that marijuana trafficking penalties aren’t tied to the controversial plant’s federal status under the U.S. Controlled Substances Act (CSA). Cannabis trafficking penalties are typically based on weight, resulting in stiffer penalties for individuals who traffic large amounts of cannabis. As such, federal drug policy attorneys such as Shane Pennington say it is unlikely that rescheduling cannabis would also reduce penalties for trafficking offenses.

Some scholars say rescheduling cannabis at the federal level would have an impact on criminal penalties under the Controlled Substances Act. If the DEA does reschedule cannabis, prosecutors and judges would have the discretion to impose lower penalties for cannabis-related offenses like trafficking.

The letter to the DEA administrator and attorney general also says that rescheduling the drug would provide an opportunity for businesses to avoid IRS Section 280E and deduct business expenses, resulting in a supersized industry.

All that the cannabis industry, including major enterprises such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), hope is that federal marijuana policy is revised to let the industry operate as freely as actors in other sectors.

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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 — Study Says Marijuana Users Fared Better with COVID-19

Recent research presented at a conference in Hawaii indicates that individuals who contracted COVID-19 and who had used cannabis experienced more favorable outcomes and a reduced mortality rate compared to those who didn’t. These findings were shared during a presentation at the annual meeting of the American College of Chest Physicians (CHEST).

To carry out the research, a team of scientists scrutinized the medical records of more than 320,000 patients collected from the U.S. National Inpatient Sample, a database monitoring hospital admissions and outcomes. Any patients under the age of 18 years old or those with incomplete information were excluded from the study. Among the patients surveyed, only 1% — 2,603 patients — reported cannabis use.

These patients were classified into two groups based on their cannabis usage. To ensure comparability, the data from the study was employed to match cannabis users with nonusers in a one-to-one ratio based on factors such as gender, race, age and 17 other comorbidities, including chronic lung conditions. The research findings revealed a significant contrast between marijuana users and nonusers, with cannabis users displaying a notably lower mortality rate (2.9% versus 13.5%). Furthermore, cannabis users experienced significantly fewer COVID-19 complications such as multiorgan failure, acute respiratory distress syndrome and intubation.

The analysis brought to light that, on univariate assessment, cannabis users exhibited notably lower rates of intubation (6.8% versus 12%), acute respiratory distress syndrome (2.1% versus 6%), acute respiratory failure (25% versus 52.9%), severe sepsis resulting in multiorgan failure (5.8% versus 12%), in-hospital cardiac arrest (1.2% versus 2.7%) and mortality (2.9% versus 13.5%). The authors underlined the clinical implications of these findings and urged further exploration of the potential association between COVID-19 outcomes and marijuana use.

Research into potential links between marijuana and COVID-19 has been relatively scarce. In 2022, a study found that among patients hospitalized with COVID-19, cannabis users exhibited milder COVID-19 symptoms and markedly improved health results. Another study conducted the same year also indicated that marijuana use was associated with a reduced risk of contracting COVID-19, though it was also correlated with more severe infections.

Additionally, in 2022, researchers from the University of Oregon conducted a laboratory study that suggested marijuana compounds could prevent COVID-19 infection in human cells. These findings have prompted further investigations into cannabis as a potential treatment for COVID-19.

The recent study, titled “Exploring the Relationship Between Cannabis Smoking and COVID-19,” has been published in this month’s supplement to the peer-reviewed “CHEST” Journal.

This study, together with more scientific literature that is becoming available, gives further credence to the concept of medicinal marijuana and encourages entities such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) to keep developing more medical cannabis products for their clients.

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420 with CNW — Poll Shows NJ Residents Say Marijuana Use Rights Override Inconvenience of Smell

A recent New Jersey poll has revealed that people are increasingly noticing the smell of marijuana more than a year into cannabis legalization. However, many residents seem to be unbothered by the often pungent smell, and even more believe that drunk driving is “very dangerous’” in comparison to driving under the influence of marijuana.

The Stockton University’s Hughes Center for Public Policy poll found that 31% of the respondents believed that cannabis use laws superseded the right to not smell marijuana from a neighbor’s house. The study also reported that 46% of respondents said both rights were of equal importance while 16% believed the right to not smell cannabis from neighbors was more important than cannabis use laws.

However, even though cannabis users in New Jersey have legal means for accessing the drug, only 14% of New Jersey residents said they smelled cannabis from neighboring houses often, 15% said they sometimes smell the controversial drug and 21% reported that they rarely smelled cannabis from their neighbors.

Conversely, 57% of adults in New Jersey said they have smelled cannabis in public since legalization, with 29% saying they catch the smell often and 28% saying they catch it sometimes. An estimated 31% of the respondents said they rarely smell cannabis while out in public, and 9% said they have never smelled marijuana in public.

Hughes Center director John Froonjian said that while there was much excitement about the legalization of recreational cannabis in New Jersey, policymakers didn’t put a lot of thought into the issue of public cannabis use. Without any legal places for people to consume their cannabis, many people are opting to consume the drug at festivals, on the streets, in parking lots and in parks.

Given marijuana’s extremely pungent smell, burning cannabis is quite distinctive, and the aromatic odors from the substance can travel for up to 82 feet before fully dissipating. A whopping 90% of respondents said they could identify the smell of cannabis while 52% said they had zero issues with the smell. Another 28% reported being “somewhat” bothered by the smell, and 19% said that the pungent aroma bothered them “a great deal.”

Unsurprisingly, 55% of people who consumed cannabis said one’s right to use cannabis at home overrode a neighbor’s right to not smell the plant in their residence while only 21% of noncannabis users had the same opinion. In addition, 75% of users and 91% of nonusers said that driving while under the influence of cannabis was dangerous, while 52% of consumers and 81% of nonconsumers said they supported roadside tests to determine driver impairment levels.

This huge enthusiasm for marijuana in New Jersey is likely to give rise to successful companies along the lines of Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) and other companies thriving in other legal cannabis markets in the U.S.

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420 with CNW — Marijuana Classes Register Explosive Demand Growth in Wake of Minnesota Legalization

Several months after Minnesota Governor Tim Walz signed a recreational cannabis legalization measure into law and nearly two months after the legislation took effect, the state has seen a significant increase in demand for marijuana classes. Minnesota is a relatively late entrant into the recreational cannabis game, but Minnesotans proved that they overwhelmingly supported legalization via a ballot vote, and they are now eager to learn as much as they can about the often-controversial plant.

According to Minnesota Cannabis College president Tanner Berris, demand for marijuana classes across the state is huge as many residents are itching to tap into the recently launched recreational cannabis industry. Berris says the college has been receiving calls every day, every hour from people who would like to become part of the cannabis industry by either opening a cannabis business or getting a job in the nascent industry.

Although the college’s marijuana program isn’t accredited, the nonprofit has been able to expand from its hemp roots to recreational cannabis now that the state has legalized adult-use marijuana. The college’s goal is now to provide support to entrepreneurs interested in joining the cannabis sector and provide them with the training they will need to flourish in the industry. The school will soon start to offer classes on cannabis cultivation, business management, and “budtending” training to people who want to work in retail cannabis stores.

Since Minnesota’s recreational cannabis law won’t allow the launch of retail marijuana dispensaries until 2025 (with the exception of some tribal nations), interested entrepreneurs have plenty of time to learn about cannabis commerce before official sales commence.

In the meantime, state law currently allows Minnesotans to cultivate up to eight cannabis plants at home.

Although the Minnesota Cannabis College began offering cannabis cultivation classes in reaction to home cultivation laws, the nonprofit is more interested in providing business-related cannabis knowledge. Berris says the most surprising thing has been the number of Minnesotans who have expressed interest in launching their own business. This includes people who use cannabis either sporadically or regularly as well as people who don’t use cannabis but are entrepreneurs who noticed a business opportunity in Minnesota’s burgeoning cannabis sector and are looking for industry-specific information before taking the plunge. Berris says all of the cannabis classes at the nonprofit are full.

Minnesotans interested in an online cannabis education certificate can also head to St. Cloud State University for programs that cover cannabis healthcare and medicine, cannabis compliance and risk management, cannabis agriculture and horticulture, and business of cannabis.

This explosive interest in Minnesota could be signaling to entities operating elsewhere, such as SNDL Inc. (NASDAQ: SNDL), that the cannabis industry still has plenty of room for growth, and any policy changes at the federal level will probably take this growth to a whole new level, bringing massive opportunities to sector players.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Raised $1.6 Million in Latest Investment Round; Looks to Advance DehydraTECH(TM) Research Operations

Lexaria, a global innovator in drug delivery platforms, recently announced that it had entered into a securities purchase agreement with a single health-focused institutional investor
The agreement is for the purchase of 1,618,330 shares of common stock at $0.97 per share, with gross proceeds amounting to approximately $1.6 million
The raised funds will be integral to Lexaria advancing its operations, inching it closer to FDA approval for its patented DehydraTECH(TM)-processed CBD for the potential treatment of hypertension
It will also help assert Lexaria’s position as a leader in the market, even as it pushes the envelope in terms of research and development of its revolutionary DehydraTECH technology

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, raised approximately $1.6 million from its latest round of investment in what will mark a significant milestone for the company. In September 2023, the company announced that it had entered into a securities purchase agreement with a single healthcare-focused institutional investor to purchase 1,618,330 shares of common stock at $0.97 per share. Maxim Group LLC acted as the sole placement agent in connection with the offering (https://cnw.fm/TNjLB).

The warrants will become exercisable six months from issuance, expiring five and a half years from the issuance date. These shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-262402), declared effective by the U.S. Securities and Exchange Commission (“SEC”) on February 4, 2022.

This move follows Lexaria’s ambitious steps to steadily advance its patented DehydraTECH(TM) technology across different areas of application, including, but not limited to, oral nicotine, antivirals, human hormone therapy, hypertension, and diabetes. Within the first half of the 2023 calendar year, the company had significantly scaled up its research and development (“R&D”), with a primary focus on the execution of hypertension, oral nicotine, and diabetes studies (https://cnw.fm/Cfdmo). Each of these studies yielded positive and promising results, ultimately setting the company up for success and continued to prove the viability of its technology.

Lexaria is now closer than ever to submitting its Investigational New Drug (“IND”) application for its planned U.S. Phase 1b Hypertension Clinical Trial with the U.S. Food and Drug Administration (“FDA”). Similar levels of success have been replicated in other studies, with the DIAB-A22-1 pre-clinical diabetes study showing that DehydraTECH-processed CBD yielded successful results showing positive impacts on blood glucose levels, overall body weight, locomotor activity, as well as triglyceride and blood urea nitrogen levels.

The raised funds will be integral to Lexaria further advancing its operations, specifically its research, inching it even closer to FDA approval for its DehydraTECH-CBD for potential hypertension treatment. In addition, it will help assert its position as a leader in the market, all while creating value for its shareholders.

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 — Cannabis Growers in Canada to Benefit from $2.6B Federal Funding Program

Eligible Canadian marijuana cultivators and processors can seek financial support through the new Sustainable Canadian Agricultural Partnership program (Suitable CAP), valued at C$3.5 billion ($2.6 billion). The program could bring relief to the smaller players in Canada’s marijuana industry that have been grappling with continuous deflationary pressures and intense competition, coupled with limited access to funds from private-sector lenders.

The support provided by the Sustainable CAP will be an addition to various other federal funding sources that Canadian marijuana companies have been leveraging. These include the National Research Council Canada (NRC), the Industrial Research Assistance Program (IRAP), and the Scientific Research and Experimental Development (SR&ED) program. The Sustainable CAP program is a collaborative effort between the federal and provincial governments under the umbrella of Agriculture and Agri-Food Canada, the governmental department responsible for agriculture.

George Smitherman, CEO of the Canada Cannabis Council, expressed satisfaction with the initiative, describing it as a significant shift in the agricultural department’s acknowledgment of cannabis as a value-added agricultural product. The council serves as the national industry association, representing the interests of numerous licensed processors and producers in the country.

Replacing the Canadian Agricultural Partnership (CAP), the Sustainable CAP program will be operational from April 1, 2023, until March 31, 2028. It comprises a C$1 billion allocation for activities and programs directly managed by the federal government, with an additional C$2.5 billion committed to cost-shared programs overseen by territories and provinces.

Until now, no marijuana companies have been involved in federal projects under the Sustainable CAP.

One of the federal programs of Sustainable CAP that marijuana-related enterprises may qualify for is the AgriAssurance Program, which includes two segments: the Small and Medium-Sized Enterprise (SME) and the National Industry Association (NIA). The NIA segment finances projects at the national level to facilitate the industry in creating and adopting tools, standards and systems that bolster safety and health claims pertaining to agricultural and agri-food Canada products. The SME segment aims to aid for-profit SMEs in executing assurance projects that cater to market and regulatory prerequisites.

Cannabis businesses are eligible to seek funding from both the AgriScience and AgriInnovate programs, provided that their proposals align with the program’s objectives, they possess valid licenses and their activities are consistent with their Health Canada licenses.

Applications for Sustainable CAP programs are evaluated on an individual basis, contingent on the specific program’s funding criteria. Additionally, applicants must already possess the requisite licenses and comply with federal and provincial laws and regulations, including the Cannabis Act.

Licensed operators such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) could be pleased by these developments that show that the cannabis industry is now being embraced as any other industry that needs to be supported in any way possible so that it can thrive not just nationally but on a global scale too.

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420 with CNW — Ohio Voters to Decide on Recreational Cannabis Legalization

Ohioans are currently voting to decide the fate of a proposed initiative aimed at legalizing recreational marijuana. Early voting commenced on Oct. 11, 2023, with the statewide election scheduled for Nov. 7.

The initiative, which bears the designation Issue 2 on the ballots, has been championed by the Coalition to Regulate Marijuana Like Alcohol. The campaigners spent more than a year pushing for the initiative to be included on the ballot since the Republican-controlled legislature would not expand on the present medicinal marijuana policy.

Should the initiative gain approval, Ohio would become the 24th state to legalize recreational cannabis. This would supersede the existing medical cannabis program, which has steadily expanded since its inception in 2016.

The proposal encompasses provisions permitting adults 21 years of age and older to purchase and possess up to 2.5 ounces of marijuana and 15g of concentrate. Additionally, they would be allowed to cultivate a maximum of six plants, with a cap of 12 for households with multiple adult occupants.

The commercial production and distribution of marijuana products would be subject to regulation by a newly established state agency: the Division of Marijuana Control. The commission will be responsible for licensing, enforcing regulations, conducting investigations, and levying penalties on testing laboratories, operators, and other players in the recreational cannabis sector.

Recreational cannabis sales would be subject to a 10% tax, with the generated revenue allocated toward a cannabis social-equity and employment fund, the oversight of the program, support for communities hosting marijuana facilities and addiction services.

A poll conducted in July by the USA Today Network revealed that a majority of Ohio voters, approximately 58.6%, are in favor of legalization. This sentiment is more pronounced among younger respondents, with 76% of those aged 18 to 34 showing support, in contrast to 43% of individuals aged 65 and above. Additionally, another survey by Fallon Research discovered that 59% of voters were in favor of the ballot initiative, while 32% stated they would vote against it.

The law would take effect 30 days after the voting results are officially certified. However, the longevity of legalization is not assured since this is a citizen-initiated statute and not a constitutional amendment. State legislators can still repeal or amend the program following the election.

Currently, several groups, including law-enforcement agencies and the Ohio Children’s Hospital Associations, are against the initiative. Republican legislators are also against it and may become more assertive in contravening the public’s will, particularly with a favorable presidential election year in 2024.

If the measure to legalize recreational cannabis succeeds and is implemented, Ohio could see the mushrooming of not just marijuana companies but also other verticals connected to the industry in the same way that entities such as Innovative Industrial Properties Inc. (NYSE: IIPR) have carved out a niche serving marijuana companies in other state markets.

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420 with CNW — Company Hopes Breathalyzer Will Curb Workplace Marijuana Use

California-based biotechnology company Hounds Lab has developed a first-of-its-kind breathalyzer with the ability to accurately detect cannabis use. The first model works by preserving breath samples and sending them to the lab for chemical analysis. However, the company is developing a second model that can deliver test results on scene.

According to Hound Lab’s chairman of the board Mike Lynn, the company learned via extensive testing that smoked cannabis will trigger a 100% positive result within an hour of smoking, but the positivity rate declines to around 85% at two hours.

Cannabis testing has been a contentious issue across the United States as dozens of states have legalized recreational or medical cannabis despite ongoing federal prohibition. Although many employers weren’t happy with the fact that their employees may be using cannabis, especially federal employees and those in safety-related positions, properly enforcing cannabis requirements was nigh impossible.

While we have standardized and relatively accurate tests for alcohol, there is no test that can accurately determine if and when an individual used cannabis or whether they are still affected by the drug at the moment of testing. With dozens of states legalizing the controversial plant, law enforcement and some employers have called for proper cannabis tests to facilitate proper enforcement of driving and workplace drug policies.

The new test represents a breakthrough that could finally provide an accurate means of testing for cannabis and curbing workplace cannabis use. Lynn says the Hound Cannabis Breathalyzer took close to a decade of engineering and science to develop. He calls the breathalyzer the “first and only” commercially available breath-based test that can help employers limit cannabis use at the workplace without penalizing their employees for using cannabis during their free time. Ideally, Lynn notes, the breathalyzer test should allow workers to use state-legal cannabis during their off hours just as they would consume alcohol without fear of reprisal by their employers.

Although Hound Labs will first market the cannabis breathalyzer to employers, it hopes other industries such as law enforcement will use the technology in the future. Lynn explains that the compny will be better equipped to serve law enforcement once federal and state governments define standards for cannabis law enforcement.

More than 20 states and nearly 40 states now allow recreational and medical cannabis respectively, meaning millions of employees across the country now have access to legal cannabis. As such, an effective system for testing whether or not employees are under the influence of cannabis while on the job will be critical to curbing workplace cannabis use.

Such a testing tool would likely gain the support of industry actors such as Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) since such testing equipment would eliminate cases of people who have been wrongly accused of being under the influence because they consumed cannabis off hours.

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420 with CNW — Census Bureau Report Shows Cannabis Firms Remitted $5.7B in Taxes

The Federal Census Bureau has unveiled its inaugural report on state-level cannabis tax revenue data. The report reveals that states raked in more than $5.7 billion from regulated marijuana sales over the span of 18 months, starting in July 2021 and ending in December 2022. This report’s launch signifies a significant shift within some segments of the federal government, which are beginning to acknowledge the marijuana industry as a legitimate economic sector.

The bureau initially disclosed its intention to gather marijuana tax data in January 2021 to incorporate into its quarterly summaries of local and state government tax earnings. Additionally, the agency called upon states to include marijuana revenue data in their annual reports.

The data amalgamates sales from both recreational and medical markets without distinguishing between the two. Aggregate figures from various states reflect both the size of individual state markets and their duration of operation. For instance, Colorado and Washington, the first two states to legalize recreational cannabis respectively, collected the third- and second-largest tax revenues (648.2 million and $818.5 million) during the specified period.

California, which is the largest by market size, generated more than $1.4 billion, while New York, where only an estimated 30 retailers have opened since sales commenced last December, accumulated a mere $27.9 million.

One prominent trend discernible from the data is an overall decrease in nationwide cannabis tax revenue during the reporting period. Although the second quarter of 2022 witnessed a zenith of approximately $839.6 million in total nationwide marijuana taxes, the revenue exhibited a downward trajectory from the third quarter of 2021 ($772.2 million) to the second quarter of 2023 ($606.6 million).

Notably, the bureau’s reporting period does not encompass the bulk of this year’s sales, during which some states have repeatedly established monthly sales records. Illinois, for instance, celebrated the industry’s record-breaking success in fiscal year 2023, with sales of marijuana products at regulated retailers totaling more than $1.5 billion. However, tax income fell short of the record of $435.1 million in 2022, coming in at $420.9 million.

In Maryland, licensed retailers set a record for recreational marijuana sales in September, despite a drop in medical cannabis sales. On the other hand, New Mexico’s September sales narrowly missed an August record, with the state surpassing half a billion dollars in total recreational sales.

August also marked a record-breaking month in Rhode Island, with cannabis sales reaching a new high for the fourth consecutive month, totaling $9.7 million. Montana also witnessed record-breaking sales of recreational cannabis in August, amounting to $23.7 million, although medical cannabis sales plummeted to $5 million, their lowest point since recreational markets opened last year.

Connecticut also shattered another record for marijuana sales in August, with $25 million worth of recreational and medical marijuana sales. And in Missouri, retailers have been averaging about $4 million in daily cannabis sales since the state’s recreational market commenced in February. The state witnessed a record $121.2 million in marijuana sales in June.

While the cannabis industry welcomed federal recognition of its economic contribution, industry reps also emphasized the necessity for further changes, including tax reform and the cessation of ongoing criminalization.

This federal report shows that when prohibition is ended, licensed marijuana companies such as Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) could have a considerable impact on the economies of the jurisdictions where they operate.

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420 with CNW — International Report Says Drug War Compromises Efforts to Attain Environmental Justice, Fight Climate Change

An international coalition of advocacy groups has released a report outlining how the global war against drugs has compromised efforts to deal with the climate crisis and accelerated the environmental destruction of crucial ecosystems across the world. While the initial days of the drug war are long gone, especially in nations such as the United States, Canada and Australia, which are now embracing drug reform, its harmful effects are still felt in many facets of society.

One of the most dire results of the drug war was almost unparalleled growth in the illicit drug market that has significantly contributed to global organized criminal activity and impacted the environment in a myriad of harmful ways. This includes mind-boggling levels of water theft by the illicit cannabis industry and significant environmental damage by fertilizers, pesticides, fuels and all kinds of waste.

The International Coalition on Drug Policy Reform and Environmental Justice is comprised of artists, activists, academics and advocates from the environmental and drug-policy reform movements. The coalition published a 63-page report stating that its efforts to protect tropical forests across the globe will likely fail as long as climate change and environmental activists continue to ignore how global drug prohibition has impacted environmental justice.

With the world actively working to mitigate climate change amid increasing instances of disrupted and extreme weather, protecting tropical forests is crucial to mitigating global warming. Tropical forests are prolific carbon sinks and are estimated to store around 46% of all living terrestrial carbon in the world as well as around 11.55% of the globe’s soil carbon pool.

The report called drug policy the missing link in delivering proper climate justice, stating that prohibitionist drug policies have pushed illicit drug production and trafficking into key ecosystems such as the jungles in Southeast Asia as well as the Amazon.

Players in the illicit drug market cultivate drug crops and traffic illicit drugs through tropical forests because law enforcement puts them in that position, the report said. In cases where the cultivation of drug plants such as opium, coca and cannabis is legal and regulated by governments, cultivation almost always occurs in traditional agricultural settings.

Furthermore, the report noted that the money earned from illicit drug operations often funds further criminal activity that harms the environment, such as the illicit trade of tropical timber, wildlife, minerals, precious metals such as gold, archeological artifacts and even human trafficking. The drug war continues a cycle of persecution and poverty against the most vulnerable people in society, the report said, pushing them into the illicit drug trade as a means of desperate survival.

The report estimates that around 200,000 Colombian families currently make a living from growing coca as the financial benefits it offers supersedes persecution from the military and police. Furthermore, the drug war often incarcerates lower-level players such as farmers who often lose their livelihoods while top players face no consequences.

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