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 — Three States in the Northeast Set July Cannabis Sales Records

Cannabis retailers in the northeast sold a record number of products in July, achieving new sales records and generating millions of dollars. State data shows that cannabis sales in Rhode Island, Maine and Massachusetts are booming, with Maine selling $20.8 million worth of cannabis products in July alone and breaking cannabis sales records for the third month in a row.

Marijuana businesses in Maine saw more than $118 million in cannabis sales over the first half of 2022 and are on track to end the year at a record $159 million in sales. The Cannabis Control Commission reported that recreational cannabis sales in Massachusetts reached $136 million in March while medical marijuana purchases were at $18.7 million, adding up to a total of $154.7 million in cannabis sales. July was the third consecutive record-setting month of cannabis sales in Massachusetts and surpassed the $152.9 million worth of cannabis sold in June.

Rhode Island, on the other hand, set a sales record at $6.8 million worth of recreational cannabis products in July. The state has consistently set recreational marijuana sales records since launching the adult-use market last December. Consumers in Rhode Island also spent $2.7 million on medical cannabis, bringing the state’s total cannabis sales to a record $9.5 million.

While Rhode Island’s sales numbers may seem quite tame when compared to Massachusetts, Rhode Island has one of the youngest cannabis markets in the northeast while Massachusetts has the most mature market.

Consumers in the northeast are clamoring to buy cannabis, and other states in the region will most likely experience high demand if they choose to legalize cannabis sales. Connecticut still hasn’t released its July sales numbers, but like the other states in the region, Connecticut set sales records in June. Generally, cannabis has enjoyed significant demand across most states with legal markets.

Multitudes look to cannabis as an alternative treatment for conditions such as chronic pain while multitudes more prefer cannabis to alcohol as their social drug of choice. Consumers in Midwestern state Illinois spent $140 million on recreational cannabis products in July, setting a sales record for the year as well as the second-highest monthly sales since Illinois began recreational cannabis sales in 2020.

Maryland also enjoyed record sales in July as retailers sold $87.4 million worth of recreational cannabis in their first month of sales while Missouri has averaged around $4 million in daily recreational cannabis sales since it launched an adult-use market in February.

These glowing sales figures show that many more companies, such as Advanced Container Technologies Inc. (OTC: ACTX), are benefiting from the boom in cannabis sales since there is an entire ecosystem of interconnected industries making it possible for marijuana companies to serve their customers.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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 — Gallup Poll Finds Highest Ever Support for Cannabis Legalization Among Republicans

A recent examination of survey data from Gallup shows that Republican backing for cannabis legalization has reached an unprecedented peak on a nationwide scale. However, a deepening partisan schism has emerged over the last couple of decades, with Democrats having swiftly and more openly embraced this cause. Most Democrats and Independents leaning toward the Democratic Party (amounting to 83%) and also Republicans and Independents with an inclination toward the GOP (accounting for 55%) are in favor of dismantling the ban on cannabis.

These insights, extracted from Gallup’s 2022 survey data, illustrate a disparity of 28% in opinion on the matter of cannabis reform between these political factions. The divergence is now broader compared to the scenario two decades ago when backing from both sides was less than 50%.

According to the most recent research, Democrats have demonstrated a more positive attitude toward marijuana legalization than Republicans since 2003. The data continues by revealing that between 2013 and 2022, there was a synchronized increase in the number of each political party’s supporters of legalizing marijuana. However, Democratic group growth has exceeded Republican faction growth. This has caused the political gap on this matter to be slightly more apparent in the most recent measuring year compared to two decades ago.

Marijuana legalization is one of nine issues out of the 24 analyzed by Gallup, where both political parties are typically in agreement with the majority opposition or support at different levels. The closest comparison to the marijuana debate is same-sex marriage, with a 28%-point political margin; it is supported by 57% of Republicans and 85% of Democrats.

“Political polarization continues to be a critically important feature of the American political landscape,” the report states. “On all 24 of the subjects examined in this analysis, there are now major — and in some cases, enormous — partisan disparities in opinion. This affirms the essential tenet of any American political analysis, which holds that people’s political identities are strongly connected with their opinions on policy and social problems giving rise to significant variations in those opinions among political segments.”

A number of other analyses issued this year support the idea that a majority of Americans, regardless of party affiliation, are willing to reform federal cannabis laws. However, while the majority of states have approved some kind of medical marijuana and 23 states have already passed legislation legalizing cannabis for recreational use, efforts to adopt federal changes have lagged well behind public sentiment.

This lag between public sentiment and actions in Congress suggest that it may take a while for federal marijuana policy to be overhauled. Despite this gloomy possibility, companies such as IGC Pharma Inc. (NYSE American: IGC) are on course to thrive as sellers of federally approved cannabis-based treatments if their R&D programs yield successful outcomes.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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 — Court Order Halts NY Marijuana Dispensary Openings

A New York court has blocked the official launch of marijuana dispensaries in the state following a decision by a judge to halt the retail licensing process. The court sided with a lawsuit filed by disabled veterans who argued that New York’s licensing policy, which prioritizes entrepreneurs who were harmed by cannabis criminalization, is unconstitutional.

Social equity has been a key aspect in many state marijuana programs in the United States, with most programs including provisions meant to reinvest in individuals and communities that were disproportionately affected by the war on drugs. Individuals from Black and Brown communities were and still are significantly more likely to be arrested for cannabis.

Marijuana enforcement caused significant long-term harm to these communities, and social equity policies are designed to allow these communities to profit from the lucrative cannabis industry. In New York, these provisions included providing prioritized licensing access to individuals who were harmed by the failed drug war.

However, the lawsuit against cannabis regulators claimed that prioritized access to licensing is unconstitutional and asked the court to halt the retail license issuing process. New York Supreme Court Justice Kevin Bryan ruled in favor of the disabled veterans, stating in his order that the licensing program could cause “irreparable injury, loss, or damage” if it moved forward.

This licensing program would have given certain victims of the drug war and nonprofit organizations that serve former convicts priority access to the first retail dispensary licenses. The state also created a special program to pair entrepreneurs with prior convictions with capital and real estate. However, close to two and a half years after New York legalized cannabis, less than 20 businesses started through the program are open.

Even though the state prioritized people with past cannabis convictions or family members of those individuals, the 2021 cannabis legalization law defined social and economic equity applicants as women-owned businesses, service-disabled businesses and minority-owned businesses, as well as individuals from communities that bore the brunt of the war on drugs.

This isn’t the first time cannabis regulators in New York have faced a lawsuit. A similar lawsuit filed by a coalition of medical cannabis businesses in March claimed that the state overstepped its authority by making the first pool of licenses available only to people with cannabis convictions or their relatives. The memo filed with the suit claimed that the New York Office of Cannabis Management and the Cannabis Control Board along with their top officials “overstepped their rule-making authority.”

Another suit from November caused a judge to temporarily halt the issuing of cannabis dispensary licenses in Brooklyn and certain parts of New York.

All these legal bottlenecks are hamstringing many companies, including ancillary ones such as Advanced Container Technologies Inc. (OTC: ACTX), that would in one way or the other tap into the opportunities presented by a thriving cannabis industry in New York State.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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 — Cannabis Industry Lobbying Increases as Looming Government Shutdown Leaves SAFE Banking in Balance

The U.S. marijuana sector persists in allocating substantial financial resources toward influential advocates, aiming to sway senators into endorsing marijuana reform. Nonetheless, this endeavor faces a potential impediment in the form of an imminent government shutdown, capable of profoundly disrupting the legislative schedule of Congress.

During the first six months of 2023, marijuana enterprises and industry coalitions invested more than $2.4 million in lobbying efforts directed at the Senate, according to the latest disclosures in federal lobbying records. This falls short of the $2.9 million expended during the latter half of 2022, including the session following the general election, when the prospects of marijuana banking reform appeared remarkably promising.

While certain corporations have trimmed their expenses or completely revoked contracts due to economic challenges facing the sector, other entities have come to terms with the reality that lobbying expenditures are an essential investment for their survival.

However, the outcomes of those efforts so far bear a frustrating resemblance to the past: well-received and long-anticipated reforms, such as guaranteed access to banking services and more ambitious objectives such as rescheduling, persist as tantalizingly close yet unattainable. As lawmakers disperse for the August recess, the possibility of the SAFE Banking Act being ratified within President Joe Biden’s inaugural term remains viable, albeit subject to change.

Yet, the likelihood of success will gradually diminish without the passage of critical spending bills, as indicated by congressional staff members and lobbyists on Capitol Hill.

Following the resumption of sessions on Sept. 5, 2023, Congress’s principal focus will be on ratifying the essential spending legislation to prevent a government shutdown on Oct. 1. A government shutdown is set off when Congress fails to pass the necessary funding bills, resulting in substantial disruption, a scenario that is currently foreseeable, as recently pointed out by the Brookings Institution, a think tank situated in Washington, DC.

As the interval without a spending debate increases, the time allocated on legislative calendars for other legislative actions decreases. This encompasses the consideration of the SAFE Banking Bill, which is slated to undergo a comprehensive markup hearing in the Senate Banking Committee, a precursor to the final Senate floor vote. The procedure advocated for this year experienced a major milestone when the bill obtained an informational hearing in mid-May.

However, a markup hearing, a session involving the introduction and debate of amendments to potentially modify the bill, was initially promised for the summer months, first in June and then in July. However, disagreements between bipartisan representatives regarding the final form of the bill, coupled with the aim of securing additional Republican endorsements to ensure the bill’s passage, prompted the Senate to adjourn for the August recess without holding this hearing. Additionally, complications have arisen from requests by companies that have existing bank accounts.

Nonetheless, observers in Washington broadly concur that significant hurdles persist for this proposal, primarily concerning antimoney laundering provisions and the ability to garner adequate Republican support to ensure passage in the full Senate. Lobbying records substantiate the evidence: while rescheduling and the potential establishment of a nationwide legalized marijuana industry akin to Canada’s aspirations endure as long-term goals, the SAFE Banking Bill remains the paramount priority of the marijuana sector.

For some companies that have chosen a pharmaceutical path to cannabis product development, such as IGC Pharma Inc. (NYSE American: IGC), access to banking services isn’t an issue because they engage in a federally accepted business, unlike mainstream marijuana companies which are only state approved.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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 — Ohio Campaigners Submit 6,500 Extra Signatures to Put Recreational Marijuana on Ballot

The organization spearheading the campaign for the legalization and oversight of marijuana in Ohio recently stated it has amassed nearly tenfold the requisite additional signatures to present the matter to the public for consideration this November. Tom Haren of the CTRMLA conveyed that the group’s collective efforts garnered an additional 6,545 signatures.

During the initial days of July, the group formally submitted well over 222,000 signatures to Frank LaRose, the Ohio secretary of state. That number was a substantial surplus in comparison to the stipulated 124,046 necessary for the proposition’s eligibility on the November 2024 general election ballot.

However, the revelation emerged three weeks later that only slightly more than 123,000 of these signatures were substantiated. This revelation compelled LaRose to remark that the recorded verification outcomes signified an “inadequate count of valid endorsements.” Additionally, he made it explicit that there remained a 10-day window for the campaign to secure and submit the requisite supplementary endorsements.

With the recent deposition of 6,545 endorsements, proponents are confident that they’ve bridged the gap with a notable surplus. Articulating the coalition’s sentiment, Haren stated confidently, “This presentation affirms our continuous assertion: the regulation of marijuana finds favor amongst the populace of Ohio.”

Subsequently, LaRose’s office undertakes the task of verifying these endorsements. Should at least 679 of them be verified, the instigated statute will earn a place on the ballot this November, sharing space with a constitutional amendment aimed at safeguarding access to reproductive healthcare, contraception and abortion.

The proposed ballot measure advances the notion of permitting individuals aged 21 years of age and above to purchase and possess up to 2.5 ounces of marijuana, along with the allowance to cultivate plants at their residences. In addition, a 10% tax allocation would be directed toward administrative expenses, addiction rehabilitation, municipalities housing dispensaries and initiatives promoting social fairness and employment.

If ratified, Ohio would assume the status of the 24th state to legalize recreational marijuana. The verdict of a dedicated election scheduled for Aug. 8, 2023, weighing the elevation of prerequisites for future constitutional amendments, holds no bearing on the marijuana inquiry, considering its advancement through the avenue of citizen-initiated statute progression.

Ohio initially legalized medical cannabis in 2016 via the legislature, culminating in the inauguration of regulated dispensaries in 2019. A precursor endeavor to legalize recreational marijuana in 2015 was included in the ballot but met defeat, opposed by a majority of more than 65% of Ohio’s voters.

If these additional signatures are certified by the state, Ohio could be on its way to licensing marijuana companies. Those companies will, in turn, create a bigger market for other enterprises such as Advanced Container Technologies Inc. (OTC: ACTX), whose niche is in supplying cultivation equipment, including for marijuana cultivation.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – GRN Holding Corporation (GRNF), One World Legends Enter Strategic Joint Venture

GRN Holding Corporation (OTC: GRNF) and Marijuana Inc., having recently merged into a consolidated entity, today announced a joint venture with One World Legends (“OWL”), a distinguished player in the cannabis sector. The partnership marks a significant step forward in shaping the future of the cannabis industry and fostering innovation, growth and global collaboration. “We have been working with One World Legends for two years on this project. The joint venture signifies a powerful fusion of expertise, vision and dedication,” said Donald Steinberg, CEO of Marijuana Inc. “OWL has a selection of 17 Landrace strains, which include some famous old strains such as Acapulco Gold, Maui Wowie, Colombian Punta Roja, Durban poison, Jamaican Lambs Breath, Thailand and more. OWL is also growing another selection of 20 more of the most famous hybrid strains in the world, which are currently growing in Colombia in preparation for global distribution… Mr. Petrullo has a ‘one-of-a-kind’ business plan, now being implemented and setting the groundwork for large-scale cannabis distribution, both CBD and THC flower varieties.”

To view the full press release, visit https://cnw.fm/eSOw2

About GRN Holding Corporation

GRN Holding Corporation is a publicly quoted company that recently merged into a consolidated entity with Marijuana Inc. GRN Holding Corporation is currently working on the name change to Marijuana Inc. and the ticker change. The company is involved in the global distribution and sale of marijuana in states and countries where legal to do so. The company has set into motion collaborations with marijuana farmers to distribute high grade, low-cost marijuana to legal consumers, wholesalers and retailers.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW — CNN’s Dr. Gupta Discusses Marijuana Use by Seniors

In a recent article titled “Cannabis is Having a Senior Moment,” CNN’s Dr. Sanjay Gupta talked about the increasing rates of marijuana use among older Americans. People aged 65 and older are now the fastest growing group of marijuana users in the country, Gupta said, dubbing the trend a kind of “senior moment” that has left him quite surprised.

America is currently home to a massive state-level medical marijuana industry that serves millions of patients and generates hundreds of millions of dollars per year in medical cannabis sales. Surprisingly, a significant portion of medical marijuana patients are older individuals, belying the idea that cannabis in all its forms is a young man’s game.

Unlike younger, more liberal generations who grew up after the war on drugs, seniors spent their formative years in a world that criminalized cannabis as harshly as cocaine and heroin. They experienced anticannabis sentiment for the majority of their lives and were inundated with messages about the personal and societal ails associated with consuming cannabis.

This generation is now adopting cannabis in surprising numbers, Gupta said, with recent studies indicating that more seniors are using cannabis to address age-related issues such as pain from arthritis and poor sleep. In many cases, seniors prefer to use cannabis in place of prescription opioids, antidepressants and sleeping pills, Gupta noted.

The growing trend of cannabis use among America’s senior population encouraged Gupta to begin working on his most recent documentary, “Weed 7: A Senior Moment.” Gupta notes that  cannabis could have “tremendous implications” if it could replace the pharmaceuticals many American seniors take on an almost-daily basis. Prescription pharmaceuticals have a myriad of side effects that can significantly diminish the quality of life of seniors while cannabis doesn’t seem to exhibit severe side effects.

Incorporating cannabis into treatments for seniors could also result in major cost savings as the United States spends close to $600 billion of its annual healthcare budget on pharmaceuticals alone.

With Gupta estimating that more than 30% of seniors take at least five pharmaceuticals per day, overall prescription pharmaceutical medication use may decrease if seniors transition to using cannabis as an alternative medication in mass.

Close to 40 states currently allow their residents to use medical marijuana to address more than 20 medical conditions. These conditions include chronic pain, inflammatory bowel disease, irritable bowel syndrome, obsessive-compulsive disorder and PTSD, to name a few.

This medical use of marijuana lends credence to the efforts by companies such as IGC Pharma Inc. (NYSE American: IGC) to develop FDA-approved formulations from cannabis targeting different disease conditions, such as chronic pain.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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— Maine Enacts Law Granting Cannabis Businesses Tax Relief

Maine Governor Janet Mills has approved legislation to provide tax relief to players in the state’s marijuana industry. The bill will partially bypass the Internal Revenue Service, which prohibits cannabis businesses from making federal tax deductions through IRS code 280E, and grant licensed cannabis businesses access to state tax deductions.

The law expands on previous legislation that already provided licensed medical cannabis operators with tax relief and will allow players in the industry to make tax deductions for business expenses associated with running a manufacturing facility or registered dispensary, or carrying out trade as a registered caregiver.

A statement from the Maine Office of Cannabis Policy (OCP) noted that the legislation would allow licensed cannabis operators to make business expense deductions on their tax returns such as the medical cannabis industry and other conventional sectors.

Marijuana operators in the state will undoubtedly be pleased with the news as cannabis businesses in most states have consistently complained about their large tax burden. Cannabis-related taxes and fees in America’s state-legal cannabis industry are so high that a significant portion of consumers are turning to the illicit market where products are significantly cheaper.

Introduced by Senator Teresa Pierce, the cannabis tax bill would give businesses in the sector the chance to recoup some of the costs through state tax deductions, potentially allowing them to pass on some of their savings to their customers and reduce product prices. According to the bill, the state of Maine would recover the funds it will use for the tax deductions by taking part of the tax revenue earned from medical cannabis sales.

Pierce explains that while businesses that can write off their business costs have an average tax rate of 40% of gross income, businesses without access to tax deductions often pay up to 70% of their gross income as tax. She called the difference in tax code unfair and appalling while testifying before a joint committee and said that it forced business owners to experience losses in order to hire and maintain their workers, offer benefits and reinvest in the business.

This makes it extremely difficult for small operators with limited access to capital to operate in the industry and encourages the development of monopolies by large, multistate companies. Given that Maine’s medical cannabis industry already had access to these tax deductions, Pierce said that it was only fair to extend access to the recreational cannabis industry as well.

This tax relief can allow companies to scale their operations, such as by acquiring more cultivation equipment from manufacturers such as Advanced Container Technologies Inc. (OTC: ACTX), in order to serve more customers.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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— Study Finds Workplace Accident Rates No Different Between Off-Duty Marijuana Users and Non-Users

Employees who engage in off-duty marijuana consumption do not display a higher likelihood of encountering workplace injuries when compared to abstainers, according to recent research that challenges the sweeping zero-tolerance policies commonly adopted by employers. On the other hand, individuals who use marijuana during work hours exhibit a nearly twofold increase in the probability of being involved in a workplace incident, in contrast to both nonusers and those who consume marijuana during their personal time.

This discovery stems from a collaborative effort by researchers hailing from the Toronto Rehabilitation Institute, the University at Buffalo and the University of Toronto. The findings were recently published in the “Canadian Journal of Public Health.”

In two years, the study tracked 2,746 Canadian workers who occupied positions spanning both safety- and nonsafety-sensitive roles. The exhaustive analysis paid specific attention to the 11.3% subset of the sample who sustained workplace injuries during the specified timeframe.

Among the diverse pool of respondents, the investigation highlighted that 10.2% of those affected by workplace injuries were classified as nonusers, with 11.14% identified as off-duty consumers. Meanwhile, a notable 20.13% reported marijuana consumption either within two hours before or during their working hours.

According to study findings, individuals who admitted to using marijuana within the confines of their workplace exhibited a 1.97 times greater risk of encountering workplace injuries in comparison to those who refrained from such consumption. Conversely, no significant association was observed between nonworkplace usage and the occurrence of workplace injuries.

Consequently, the researchers deduced that the critical factor influencing workplace injuries is the proximity of marijuana use to work hours rather than consumption outside of professional settings.

Stratifying the data for safety-sensitive workers revealed that injury rates stood at 20.14% for nonusers, 23.3% for off-duty consumers, and 31.35% for on-the-job indulgers. For nonsafety-sensitive roles, the figures were notably lower, with nonusers experiencing injury at a rate of 4.27%, off-duty users at 4.19%, and those consuming marijuana during work at a higher 12.3%.

The researchers affirmed that their study provides a more lucid perspective on the connection between marijuana use and workplace injuries, an area that previous conflicting studies have clouded. They explained that prior research had neglected the temporal aspect of consumption concerning workplace injuries, which their study effectively accounted for.

Ultimately, the researchers concluded that solely workplace-related marijuana use poses a genuine risk of future workplace injuries, regardless of whether the job role falls within the safety-sensitive category.

Some of the concerns about marijuana use will likely disappear as more enterprises bring to market cannabis-based formulations along the lines of what IGC Pharma Inc. (NYSE American: IGC) is developing for chronic pain management. These medications will move many medical marijuana users away from taking unprocessed cannabis, which is a source of concern for employers and some authorities.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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 — Minnesota Marijuana Drinks Makers Enjoying Great Market Conditions

The cannabis-infused beverages segment of America’s state-legal cannabis market seems to be performing admirably in one of the most unexpected states: Minnesota.

Favorable market conditions in the state have helped cannabis-beverage producers and retailers in the state earn millions of dollars in recent months, making Minnesota one of the best markets for marijuana drinks in not only the United States and Canada but Europe as well.

With recreational cannabis sales slated to begin in less than a year in the state, the recent success of the cannabis-infused drinks segment could be an indication that demand for cannabis and cannabis products among Minnesotans is quite high. Thanks to factors such as easy access, less cannabis-associated stigma and Minnesota’s location, cannabis-infused beverage retailers have been selling an average of more than $1 million worth of products every month.

State regulators allow Minnesotans to purchase cannabis drinks at grocery chains. restaurants, and liquor stores, meaning a significant percentage of Minnesota residents have easy access to cannabis drinks. Furthermore, with the closest states that allow recreational cannabis sales (Michigan and Illinois) being hours away, most residents and consumers from neighboring states have nowhere but Minnesota to purchase low-THC beverages.

Minnesota’s low-THC product segment was born when federal lawmakers passed the 2018 Farm Bill, legalizing the cultivation and sale of industrial hemp (cannabis with less than 0.3% THC) and its derivatives. Since Minnesota doesn’t require that retailers have a license to sell products infused with hemp-derived THC, the segment kicked into overdrive as soon as the Farm Bill became law close to five years ago.

According to Blunt Strategies partner and principal Leili Fatehi, the measure allowed millions of Minnesotans to purchase low-THC offerings as easily as they could buy alcohol.

Furthermore, Fatehi explains, consumers seem to be interested in engaging and learning more about marijuana-infused drinks and how to consume them safely.

Local manufacturers such as Surly Brewing Co. in Minneapolis and interstate players such as California-based Cann have been major winners in the recent cannabis-infused beverage sales boom.

The segment largely owes its success to a 2022 measure that legalized the sale of hemp-derived THC edibles in retail outlets, including convenience and grocery stores that are typically prohibited from taking part in the cannabis market in other states. While some pundits say the explosion in sales is indicative of the market’s demand for recreational cannabis, others believe that changes in adult-use cannabis policy in Minnesota could impact sales.

Minneapolis-based marijuana attorney Jason Tarasek says that recreational cannabis legalization could lead to increased licensing requirements and regulation for players in the hemp-derived THC segment.

On a plus side, the launch of recreational cannabis sales will also bring welcome business opportunities to nationwide ancillary companies such as Advanced Container Technologies Inc. (OTC: ACTX) as well as lead to the mushrooming of many marijuana enterprises.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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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