420 with CNW — New Cannabis Reforms in Massachusetts Seek to Improve Equity, Local Levies

For the most part, cannabis reform measures across the United States have included social equity provisions designed to address the harms of the war on drugs. Long considered to be a failure, the drug war disproportionately affected Black and Brown communities and exacerbated systemic racial biases. More than two decades after California legalized recreational and medical cannabis, states are passing cannabis legalization measures with robust social equity and criminal justice provisions to compensate these communities and give them a leg-up in the multi-billion dollar cannabis industry.

In Massachusetts, for example, lawmakers recently passed sweeping cannabis legislation with a major focus on promoting diversity and equity in the cannabis market. The measure would give disenfranchised communities a chance to enter Massachusetts’ $2 billion cannabis industry before the market is captured by large multistate corporations. Signed into law by Massachusetts Governor Charlie Baker, the bill creates a Social Equity Trust Fund that will award loans and grants to cannabis entrepreneurs who were impacted by the war on drugs. It will also give state cannabis regulators more oversight over the fees charged to cannabis businesses by local governments.

This move will protect businesses from municipalities that levy controversial fees on local marijuana businesses, especially smaller businesses that simply can’t afford to cover these fees. According to Massachusetts Cannabis Control Commission member Ava Callender Concepcion, the passage of the bill left her shaking with relief and happiness. She called the measure “monumental,” stating in an interview with the Berkshire Eagle that it is a major step forward in regard to fixing the problems that plague the Massachusetts cannabis industry.

The measure will enable local governments to decide whether or not they will allow cannabis consumption lounges via votes or bylaws. It will also give marijuana businesses leeway to open cannabis consumption lounges in locations that had received prior approval in a pilot program. Concepcion explained that the recent bill was the most comprehensive resolution on cannabis since the state Cannabis Control Commission was founded.

However, not every industry executive is as excited as Concepcion, with some saying that the bill could have gone even further in ensuring that those who were disproportionately impacted by the war on drugs are provided with business opportunities in the state’s cannabis industry.

The Minority Cannabis Business Association’s (MCBA) 2022 Equity Report states that Massachusetts was the first state to include social equity provisions as part of its recreational cannabis market in 2018. This first social equity program mainly focused on exclusively providing courier, delivery and consumption-site licenses to members of minority and other marginalized communities.

These equity programs are a step in the right direction in the eyes of operators such as Advanced Container Technologies Inc. (OTC: ACTX) since they offer opportunities to as many interested people as possible instead of concentrating those opportunities in the hands of large corporations.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

The 420 Expo, NJ’s First BYOC Public Event, Sparks High Attendance, Open Conversations & Awesome Vibe

Approximately 17,000 People Came Through the Doors of the Inaugural Event in Edison, NJ

The 420 Expo, New Jersey’s first-ever BYOC Consumer Cannabis Convention, was an unmitigated success for the cannabis community, exceeding all expectations. Approximately 17,000 people aged 21+ attended the historic three-day event, from September 16-18, 2022, at the NJ Convention & Expo Center in Edison, NJ. Hosted by the legendary Tommy Chong and presented by Wakit Grinders, the 420 Expo brought together experienced cannabis users, the “canna curious,” and businesses from the cannabis world and beyond in what amounted to one giant celebration. The event also featured significant educational seminars, designed to start breaking down the stigma that is still associated with legalized recreational adult use of marijuana.

“While THC products weren’t for sale at the 420 Expo, just the idea that people could legally bring their own cannabis, and use it, at an event that was clearly curated to support the cannabis community meant a lot to attendees,” said J. Handy, co-founder of the 420 Expo. “People were raving about every part of the expo, from meet-and-greets with celebs like Tommy Chong and Rob Van Dam, to amazing vendors, food trucks, great music, and killer afterparties. It was truly a momentous occasion.”

In addition to the celebratory atmosphere, educational seminars tackled very real and meaningful issues. The 20+ sessions included topics such as “Cannabis 101,” “Combatting the Social, Racial, & Economic Injustices of Cannabis,” “Medical Marijuana Patient Perspectives,” and “Overcoming Addictions” to opiates and other hard drugs with the help of cannabis.

Dan Davis, co-founder of the 420 Expo, said, “It was literally nothing but good vibes. Despite thousands of people, 75+ vendors, tons of live entertainers, etc., there were zero issues. That speaks volumes about the responsible community from all walks of life who are exercising their legal rights with recreational cannabis use, and we hope it debunks many of the misguided perceptions out there.”

Next year’s 420 Expo will take place in the same location on September 22-24, 2023, and planning is already underway. To learn more details as they become available, visit 420Expo.com.

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 instant SMS alerts, 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

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Heat Wave Compounds Challenges Marijuana Firms Face in California

Over the past couple of years, extreme weather events have rocked several parts of the world, resulting in flash floods, extreme heat, cold and more. Last year, power grids in Texas were shut down by extremely cold weather, forcing people to live without power in blistering cold weather for days. Such extreme weather events have continued to occur across the world, with California recently experiencing a heat wave that has caused power outages and disruptions.

California also happens to have one of the largest cannabis industries in the country, and the recent heat wave is presenting significant challenges to cannabis operators in the state. Cannabis plants are known to be energy intensive, especially when grown using indoor facilities. But with the recent heat wave, operators say they have experienced power outages and disruptions.

Given that cannabis plants require precise levels of sunlight and darkness to move from the vegetative to the flowering stage, regular disruptions to these cycles can have major consequences. Some climate experts predict that this September may be the hottest in California’s history, with temperatures expected to top the high 90s on the coastline and 110 degrees inland. Some cannabis operators have been forced to delay harvesting while others have staggered their work shifts in the wake of the power disruptions.

The California Department of Cannabis Control has also asked cannabis businesses to voluntarily shut off major power sources and rely on backup energy generators as excessive heat warnings have increased fears of major power disruptions. In downtown Los Angeles, Tradecraft Farms reduced its power consumption and brought a couple of generators online to supplement its power needs, a move that it expects will increase its monthly power costs past $30,000.

The San Diego-based cannabis grower has a greenhouse in a neighborhood filled with cannabis growers in the LA Art District. Some of Tradecraft Farm’s neighbors are licensed while others are not. CEO Barry Walker says that while his company is trying not to overtax the grid, as cannabis grows are known to do, most of the black market is unconcerned. He says that all the unlicensed cannabis cultivation in downtown Los Angeles is the reason transformers are overtaxed.

Jetty Extracts, another operator in the cannabis scene, was forced to temporarily stop production at its manufacturing hub in Oakland to preserve its temperature-sensitive extraction equipment. The company extracts resin from frozen cannabis, and as temperatures have soared, its freezer units have to work harder to keep the cannabis cold.

To address the possibility of power outages amid the heat wave, Jetty Extracts chief product officer Nate Ferguson says the company has plans for backup emergency generators. He notes that the length and intensity of the heat waves have had a major impact on the company’s capital expenditure planning.

Most cannabis operators can also expect to deal with rising energy costs as the heat wave intensifies, and companies such as Prime Harvest Inc. now have to put their best foot forward to prove their resilience in the face of such multipronged challenges facing the marijuana industry in California.

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

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 instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Oklahoma Supreme Court Shoots Down Two Challenges to Cannabis Legalization Measure

Last week, the Oklahoma Supreme Court rejected a pair of legal challenges against a cannabis legalization proposal. The court afforded the petitioners a small window to request for a rehearing as it prepares to make a final ruling in the coming week on whether the proposal can be brought before voters this year.

The deadline to send in challenges against the proposed amendment to the constitution closed earlier in the week. Four challenges were filed, including two concerning the language of the ballot title, and two that dealt with signature certification, which were shot down by the court.

One of the rejected challenges came from Mike Reynolds, a former legislator from Oklahoma, who claimed that a state law that was recently enacted on election integrity made it almost impossible to review signatures. In its ruling, the court stated that Reynolds had been able to access the petition after he had filled out his application as per the statute, noting that his request for more days to challenge the proposal after he’d reviewed the signatures would violate the plain language and legislative intent of the statute.

The other dismissed challenge was made by Paul Tay, a controversial marijuana activist who alleged that signatures gathered on sovereign Indian land weren’t valid. He made a similar complaint against a legalization measure led by another campaign In its ruling, the court stated that it had lost patience with the activist, noting that he had a history of filing original proceedings, the majority of which had no legitimate basis legally.

In addition to the response, the Oklahoma Supreme Court revoked Tay’s pauperis status, which had enabled him to file complaints in the past without paying any fee.

Oklahomans for Sensible Marijuana Laws (OSML) submitted more signatures than required to qualify its legalization initiative in July. The organization also accepted revisions to the ballot title language from the state’s attorney general before the Office of the Secretary of State certified the signatures in August.

In a statement, Yes on 820’s campaign director, Michelle Tilley, stated that the group had been confident that the court would reject any frivolous complaints, noting that the court had done that by dismissing the complaints filed during the protest period.

The remaining complaints, include one which argues that the ballot title’s language is misleading because it doesn’t sufficiently inform voters about policy impacts of the measure. For example, the lack of disclosure about provisions for decriminalization for individuals aged 21 and under and firearm-related implications makes the title misleading.

The other complaint was made by Jed Green, a marijuana activist who also maintained that there were omissions in the title of the ballot.

If the ballot measure is cleared by the top court in the state, voters could have a chance to approve it and pave the way for licensed cannabis companies similar to the likes of Cannabis Strategic Ventures Inc. (OTC: NUGS) to set up shop in Oklahoma and address the needs of consumers there.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

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 instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Survey Finds Most Republicans Support Incremental Marijuana Policy Reforms

Most progressive measures in the United States have been pushed by Democratic lawmakers and supported by left-leaning voters. Democrats were almost entirely responsible for the wave of cannabis reform that has swept across the country, with most left-leaning states now allowing some kind of legal marijuana market. However, a recent survey has revealed that attitudes toward cannabis prohibition and legalization are also changing on the other side of the political divide.

The survey found that voters who identify as Republican support various cannabis reform measures, including legalizing the controversial plant, expunging certain cannabis-related offenses from people’s records and allowing states to determine their own marijuana policies. The survey was commissioned by the National Cannabis Roundtable (NCR).

Survey results indicate that 76% of Republicans who responded said they supported noninterference by the federal government in state-legal cannabis markets, 56% supported expunging prior cannabis offenses in legal cannabis states, and 73% were in favor of treating cannabis businesses like other industries. These results came at a time when lawmakers are working feverishly to develop viable marijuana legislation before the end of the congressional calendar.

However, there is little likelihood of Congress passing federal marijuana reform before the session ends, and some stakeholders do not believe that Republicans support anything besides cannabis banking legislation. In the survey, 65% of Republicans said they supported measures that would finally allow cannabis businesses to access banking services.

Several prominent Democratic lawmakers, including Senate Majority leader Chuck Schumer, Senator Cory Booker and Senator Ron Wyden, have vowed not to pass cannabis banking measures before comprehensive legalization.

Although the legislation would finally allow cannabis businesses to access cashless payments and capital, Schumer believes passing it first would place corporate interests over social equity. He recently unveiled a comprehensive federal cannabis bill that would legalize the plant at the federal level and expunge past nonviolent cannabis offenses from people’s records. On the other hand, proponents of cannabis legalization argue that lack of access to banking services is exposing the cannabis industry to security risks and limiting its access to capital.

Banking institutions have stayed away from the state-legal cannabis industry ever since its inception, forcing businesses in the sector to rely on cash-only transactions. Lawmakers included banking protections in a package of policy changes called SAFE Banking Plus in an effort to pass some kind of cannabis legislation before the current legislative session elapses. It has social-equity provisions as well as protections for banks that serve businesses in the cannabis sector.

If these reforms are finally passed into law, the operating environment for industry companies such as Flora Growth Corp. (NASDAQ: FLGC) will improve a great deal as a uniform federal law on marijuana comes into force.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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 instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – REZYFi Inc. Stands Distinct with Service to State-Licensed Cannabis Industry, Proprietary Technology

REZYFi, a cannabis mortgage bank servicing the needs of both traditional and non-traditional consumers and businesses, is one of the first mortgage bankers of its kind in the United States. The company is leveraging its position in a market where most traditional lenders remain diffident to serve the state-licensed cannabis industry. “Through its two wholly owned subsidiaries – REZYFi Lending and ResMac Inc. – REZYFi is targeting licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based financing and project-specific financing,” reads a recent article. “REZYFi is demonstrating its corporate strengths within the market through experience, a network of independent brokers, and proprietary technology through both subsidiaries… Over the past five years, REZYFi has developed an extensive network of independent mortgage-related brokers and licensed loan officers – with training that has already commenced for network members to familiarize them with the company’s new service offerings. Through its proprietary automated/machine learning technology, REZYFi shortens loan processing timeframes and increases efficiency, allowing it to operate its legacy business at staffing levels meaningfully below its competition.”

To view the full article, visit https://cnw.fm/fZShH

About REZYFi Inc.

REZYFi is a cannabis-focused mortgage origination and specialized financing company in the U.S. The company originates, structures and invests in first mortgage loans and alternative structured financings secured by commercial and residential real estate properties. For more information, visit the company’s website at REZYFi.com.

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

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 844-397-5787 (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

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) CEO, Inventor of GrowPods Share Insight on the Future of Farming

Advanced Container Technologies (OTC: ACTX) was featured in a recent episode of “Gamechangers LIVE.” Doug Heldoorn, CEO of ACTX, the exclusive U.S. distributor of GrowPods — self-contained, hydroponic “micro-farms,” and Shannon Illingworth, the inventor of GrowPods, joined the podcast to discuss the future of farming in America and the world. According to a recent Wall Street Journal article, the global food supply is in critical condition. The Guardian further projects that the world’s population is expected to reach nearly 10 billion by 2050 and will require a 70% increase in global food production but speculates today’s food systems are not ready and that the answer to mounting challenges may be in hydroponic or vertical farming. “GrowPods can give traditional farmers a niche to grow high-quality produce year-round,” Illingworth said in the interview with Sergio Tigera, host of Gamechangers LIVE. “Because GrowPods can be located virtually anywhere, food can quickly go from farm to the table, dramatically reducing transportation time, so food stays fresh, healthy and nutritious.”

To view the full press release, visit https://cnw.fm/wk3Jv

About Advanced Container Technologies Inc.

Advanced Container Technologies is in the business of selling and distributing self-contained, automated, indoor “micro-farms” called Grow Pods, along with related equipment and supplies. Additionally, the company designs and sells patented proprietary medical-grade plastic containers, known as the Medtainer(R), that store and grind pharmaceuticals, herbs, teas and other solids or liquids. For more information, visit the company’s website at www.AdvancedContainerTechnologies.com.

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

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 844-397-5787 (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

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — US Court of Appeals Rules Marijuana’s Federal Scheduling Is Irrational, Not Unconstitutional

A recent ruling handed down by the U.S. Court of Appeals for the Second Circuit states that the decision by the federal government to classify marijuana under Schedule I of the Controlled Substances Act is not unconstitutional but is plausibly irrational. The Controlled Substances Act was approved by the 91st United States Congress and signed into law by former President Richard Nixon. It became effective May 1, 1971. Schedule I substances under this act are, by definition, substances that currently have no accepted medical use in treatment and have a high potential for abuse.

Drugs classified under this schedule include LSD, heroin, peyote, methaqualone, ecstasy and cannabis.

The case in question is United States of America vs. Green.

During the trial, the defendants argued that cannabis’ scheduling under the Controlled Substances Act had no rational basis because marijuana did not meet the statutory criteria for inclusion in its current classification.

The U.S. Court of Appeals judges rejected this argument, stating that the scheduling criteria of the Controlled Substances Act was to a large extent irrelevant to their constitutional review, as the rational basis test only asked if Congress had any plausible basis for including cannabis under Schedule I. They added that while there were other conceivable considerations that could have been the motive behind marijuana’s scheduling, its classification did not violate equal protection rights or due process.

While the judges did acknowledge that the defendants’ argument that it was irrational for the federal government to maintain that cannabis had no accepted medical rule, they maintained that this was not enough to compel the court to rule marijuana’s current classification as unconstitutional.

In their conclusion, the judges stated that the defendants needed to do more beside simply demonstrating that the legislature’s assumptions about marijuana were irrational.

Paul Armentano, deputy director of NORML, stated that while the court’s decision wasn’t unanticipated, it was disappointing. Armentano acknowledged that the ruling was consistent with those of other federal courts that had in a similar way declined to nullify marijuana’s Schedule I classification as unconstitutional.

Prior rulings opined that the rational basis review did not permit the federal courts to second guess decisions made by Congress.

He highlighted that judges had repeatedly ruled that it was the responsibility of federal legislators and not the courts to rescind the federal prohibition of cannabis. Armentano added that instead of expecting relief from federal courts, citizens needed to continue pressuring their elected officials to annul this destructive and admittedly “irrational” policy.

Needless to say, pressure is mounting at various levels to see marijuana policy reform enacted, and such pressure could pave the way for the widespread use of grow pods in the fashion of those made by Advanced Container Technologies Inc. (OTC: ACTX) as more people opt for sustainably grown cannabis and other produce.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Florida Judge Slams State for Slow Medical Marijuana Licensing Process

Florida legalized medical cannabis in 2014 and began allowing qualified patients to access non-smoked, low-THC cannabis in January 2015. Another measure passed in 2017 created a more comprehensive regulatory framework for Florida’s medical cannabis industry. It also required that the state Department of Health issue new medical cannabis licenses as the number of qualified patients increased.

However, despite the fact that Florida now has more than 700,000 medical marijuana patients and should have granted another 22 medical marijuana licenses, regulators are yet to do so.

Earlier this month, an appeals judge chastised state health officials for the slow medical marijuana licensing process. Florida should have doubled its medical cannabis dispensers to keep up with the growing number of patients, the judge said, but the slow licensing process has left potential applicants “understandably frustrated.”

Florida First District Court of Appeals Judge Ross Bilbrey wrote in a ruling for an MMJ licensing case that nearly five years after lawmakers issued the emergency rule, Florida’s medical cannabis licensing window is still closed. Alongside two other justices, Bilbrey upheld a lower court’s decision to dismiss a lawsuit from an applicant seeking a medical marijuana treatment center license.

Bilbrey noted that the Department of Health’s failure to reopen the license application window had left the defendant understandably frustrated. News Service of Florida reports that Florida currently has 22 medical marijuana operators, nearly half of the operators the state needs to cater to the swelling medical marijuana market. But since Governor Ron DeSantis’ administration took office, the application window has remained closed, leaving hopeful applicants hanging in limbo as they wait for the government to move forward.

Although the governor’s office said litigation over the 2017 law for the license application was the reason for the delay, the statute was finalized by a state Supreme Court decision last year. During a trial involving MedPure LLC more than two years ago, a Department of Health lawyer told Bilbrey that the health agency had halted the licensing process due to a lawsuit that was filed against the 2017 statute by Tamba-based company Florigrown.

Ultimately, the Supreme Court threw out the lawsuit and upheld the 2017 law. Consequently, Bilbrey wrote that he understood why applicants such as Louis Del Favero Orchids Inc., the organization behind the lawsuit that was dismissed by a lower court, are frustrated. They have waited with bated breath for the state to open the licensing process to no avail.

Bilbrey and his colleagues may have sided with the Department of Health and upheld the lower court’s decision, but he called out regulators for dragging their feet in opening the medical marijuana licensing process. The judge has also questioned Department of Health officials on the license application delay on several occasions.

Such progressive court judgments are needed to nudge policymakers in different jurisdictions where licensed companies such as American Cannabis Partners operate to set up the necessary systems pivotal to meeting the needs of different consumer segments.

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

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 instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

Flora Growth Corp. (NASDAQ: FLGC) 7x YOY Revenue Growth for H1 2022 Affirms Hyper Growth

  • H1 2022 revenue increased to ~$15.0 million, up 604% from H1 2021 and 117% from H2 2021, driven by House of Brands
  • Gross Profit increased to ~$7.0 million, up 547% compared to H1 2021 and 363% compared to H2 2021
  • Company reaffirms its 2022 revenue guidance to range between $35.0 million – $45.0 million, indicating approximately 300% – 400% projected revenue growth from 2021

In August, Flora (NASDAQ: FLGC) released its financial and operating results for the six months that ended June 30, 2022 (https://cnw.fm/4Oeqb). As an internationally focused cannabis company, the organization’s management acknowledged how challenging the current global cannabis environment is. However, it also lauded the team’s ability to deliver on plan and the overall company’s focus on its goals for the current financial year.

The release indicated that Flora posted total revenue of $14.9 million for the first half of the 2022 fiscal year (“H1 2022”), 7x year-over-year (“YOY”) growth, and 2x sequential growth. This growth was attributed to Flora’s House of Brands division, which include the acquisitions of Vessel and JustCBD. The performance, according to the company’s Chairman and Chief Executive Officer (“CEO”), Luis Merchan, delivered on the company’s promise to double its revenue compared to H2 2021.

“In the first half of 2022, Flora delivered on its promise to double revenue compared to the second half of 2021, and we expect to maintain that trajectory to deliver our full-year guidance as a result of continued growth in our House of Brands, the launch of several new brands in the United States and the commencement of sales in our Commercial Wholesale and Life Sciences business,” noted Mr. Merchan (https://cnw.fm/mMVpx).

The company kicked off 2022 with the integration of both Vessel and JustCBD. It also saw the bolstering of its human resources following the appointment of former Director of Cannabis for the Florida Department of Agriculture and Consumer Services, Holly Bell, as the Vice President of Regulatory Affairs. Flora also signed a distribution agreement with Giant OTG Management to offer access to JustCBD products in airports within the United States and strengthened its European presence by opening an office in London.

All these investments, and more, have paid off significantly for the company, and its management believes that it has achieved a path to profitability. The company has reaffirmed its 2022 revenue guidance to range between $35 million and $45 million, representing growth of approximately 300% to 400% over 2021.

“With all three of our core pillars generating revenue in the second half of 2022, continued gross margin expansion and a focus on streamlining operating expenses- we believe we have a path to profitability that few global cannabis companies can achieve in this difficult environment,” noted Mr. Merchan. “The execution of our key initiatives is a testament to our team’s ability to deliver on plan. We will continue to execute as we focus on profitability and long-term value creation,” he added (https://cnw.fm/mMVpx).

Flora H1 2022 revenue increased to ~$15.0 million, up 604% from H1 2021 and 117% from H2 2021, driven by House of Brands. Gross Profit increased to ~$7.0 million, up 547% compared to H1 2021 and 363% compared to H2 2021. The company reaffirms its 2022 revenue guidance to range between $35.0 million – $45.0 million, indicating approximately 300% – 400% projected revenue growth from 2021. 

Going forward, the company is set to benefit from the addition of strategic management players in its team, such as Elshad Garayev, the new Chief Financial Officer (“CFO”), and Brandon Konigsberg, who serves on the Board of Directors as Chair of the Audit Committee and as a member of the Compensation Committee.

Flora has also entered into an agreement with Pharma Indigena Misak Manasr Sas (“Manasr”), the largest indigenous tribe in Colombia, to commercialize and sell cannabis products domestically and internationally in partnership with the Misak people. This will further accentuate the company’s performance, particularly given the favorable regulatory tailwind that the company is experiencing already in Colombia. It will also play an integral role in achieving the projected revenue goals for the current financial year.

In addition, a recent Zacks SCR report (https://cnw.fm/kJgU2) lists the following key positives for the company in light of their release:

  • 1H22 augers well for meeting targets
  • benefiting from cost advantages
  • favorable regulatory environment

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

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

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 instant SMS alerts, 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

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.