Category: CannabisNewsWire Release

CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) GrowPods Could Play Key Role in Farming Future

Advanced Container Technologies (OTC: ACTX), the exclusive U.S. distributor of self-contained, automated, indoor “micro-farms” called GrowPods, has noted that its innovative controlled environment farms could be key to feeding the world, which is projected to reach a population of 10 billion by the next generation. Such an increase would require a 70% increase in global food production, the United Nations has forecast. With that as a backdrop, controlled environment agriculture offers a potential solution because of its ability to produce high yields in small spaces using little water and no soil. Controlled environment agriculture includes indoor and vertical farming practices such as hydroponics, aeroponics and aquaponics; these practices combine to create sustainable, optimized growing conditions that protecting crops from pests and diseases. Industry experts note that these growing environments have potential to provide access to affordable, high-quality and nutritious food, with one leading research projecting that vertical farming may take over approximately 50% of the leafy green markets in the country. “I believe that it’s possible that vertical farming can take over approximately 50% of leafy green markets in the U.S. and portions of small fruit and tomato markets in 10 years,” said research plant pathologist Dr. Kai-Shu Ling.

To view the full press release, visit https://cnw.fm/lrv72

About Advanced Container Technologies Inc.

Advanced Container Technologies is in the business of selling and distributing self-contained, automated, indoor “micro-farms” called GrowPods, 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

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420 with CNW — New California Bill to Address THC Level Inflation

Anyone who consumed cannabis in the pre-legalization days will tell you that the drug has gotten progressively stronger over the years. Improvements in breeding and cultivation have allowed cultivars to develop strains with extremely high levels of THC (delta-9 tetrahydrocannabinol), the chemical compound that causes marijuana’s well-known “high.”

With demand for products with high THC levels increasing, cultivars nationwide compete to create the most potent cannabis, resulting in an industry suffused with high-potency goods such as dabs. The proliferation of high-potency cannabis products in America’s state legal market has worried some medical experts, who are concerned that inflated THC levels may increase the risk of developing a substance use disorder.

In California, home to the country’s largest cannabis legal cannabis industry, Assemblymember Reggie Jones-Sawyer has introduced a bill that would address THC level inflation in the state’s massive cannabis industry. Assembly Bill 1610 is a measure meant to increase transparency in cannabis testing and get rid of fraud in the nascent industry.

The bill is sponsored by SC Labs, a cannabis and hemp testing company that provides quality control, compliance and R&D testing service to businesses in the cannabis industry. SC Labs chief compliance officer Josh Wurzer notes that the company is sponsoring Assembly Bill 1610 because it would enhance transparency within the marijuana sector by requiring or allowing randomized product shelf testing or in-person lab audits.

He said that SC Labs has thrown its weight behind the bill because there is no way to weed out bad actors that drag the sector down without increased engagement from the state. As it stands, Wurzer said, the current system is allowing these bad actors to profit over legitimate cannabis companies that are striving to follow product safety and compliance rules.

California’s legal cannabis industry may be large, but it is dwarfed by the illicit marijuana market, which generates nearly double the revenue and deprives the state of billions of dollars in taxes.

Wurzer explained that the illicit market coupled with reduced prices has put a lot of pressure on the legal market, but increasing transparency and trust would bolster the legal markets and help them thrive. The bill would also address the price gouging that has forced consumers to dig deeper into their pockets for supposedly high-THC products.

To get a leg up on their competitors and boost their profits, some labs have taken to overstating the percentage of THC in products in a bid to attract more customers. As a result, consumers pay more for products that contain less THC than indicated and, in some cases, are contaminated with pesticides.

Jones-Sawyer’s bill would prevent this by increasing product-safety requirements for producers and requiring in-person annual audits of labs. According to Jones-Sawyer, the bill will also ensure a supply of high-quality products to the cannabis market and protect the consumers.

Such a law may also result in the use of modern cultivation technologies, such as the indoor grow equipment from Advanced Container Technologies Inc. (OTC: ACTX), to produce higher-quality cannabis that tests verify before it hits store shelves.

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

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420 with CNW — Mississippi Farmers Switch from Hemp to Growing Marijuana

Mississippi approved the use of medical cannabis last year after a lengthy legislative debate, though local governments were given the option to reject the initiative. Lincoln County was one of the counties that initially declined to participate in the program.

However, the decision prompted Timothy Gibson and Jason McDonald to take the lead in pushing for the legalization of medical cannabis in the county. The two succeeded in getting the issue on the ballot in August last year when county voters overturned the decision made by local officials.

After the vote, they got to work on starting their own medical cannabis cultivation facility — SADUJA — located in East Lincoln. In December 2022, the facility received a license to cultivate medical cannabis, making it the first in Lincoln County. “We have been cultivating hemp since its legalization in Mississippi,” McDonald said. “We provided hemp to regional stores in the state. People may not have been aware that cannabis was grown here legally prior to the legalization of medical marijuana. It was present and flourishing on the farm.

“I think people are typically afraid of new things,” McDonald continued. “It is essentially the same as what we’ve been doing, but on a larger scale, and we switched from using hemp to using medical cannabis. The plant is the same.”

According to McDonald, the local community has turned its attention to the medical cannabis industry. People should be aware that applying to work at a cannabis cultivation facility is a difficult process. For employment at the tea farm, according to McDonald, he can hire anyone over the age of 16, but for the medical marijuana farm, applicants must be at least 21 years old, citizens without a history of felony convictions, and able to pass a background check.

The medical marijuana bill was a major point of contention within the state’s legislature and between legislators and Governor Tate Reeves, who was persistent in imposing strict restrictions on any measure that emerged. Reeves was particularly worried about how much cannabis a patient could legally obtain. The governor preferred a daily limit of 2.7 grams; however, the bill presented to him and passed by a veto-proof majority, permits patients to purchase up to 3.5 grams up to six times a week.

Following his signing of the bill into law, Reeves stated that while the bill was not the one he would have drafted, legislators who made the final version made major improvements to get the state closer to achieving its ultimate goal.

Worries such as those faced by Reeves could soon be partially addressed if organizations such as India Globalization Capital Inc. (NYSE American: IGC) succeed in bringing to market various formulations targeting the different conditions for which patients are enrolling for medical marijuana in different jurisdictions around the country.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital 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.

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

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CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) Efforts to Boost Commercial Prospects ‘Paying off in Spades’

Lexaria Bioscience Corp. (NASDAQ: LEXX) is a global innovator developing and commercializing its patented DehydraTECH(TM) drug delivery technology. Lexaria is continuing and/or initiating discussions with several larger companies in Europe and North America regarding the licensed use of its technology for both consumer and pharmaceutical sectors. “The materialization of such partnerships hinges on a number of must-haves. Firstly, there must be a tangible product that draws larger companies. Secondly, The decision of whether or not to invest, and the scale of any investment, is based on how well the technologies that form the core of a company have been protected. This is where patents come in. Moreover, the further a company can take its own research, the better the deal that will be offered in terms of upfront payments, milestone payments, and royalties,” reads a recent article that contains excerpts from a LabioTech writeup. “Lexaria ticks all these boxes. Its unique technology – DehydraTECH – is not only tangible but has also been shown to enhance the performance of several categories of fat-soluble active molecules and drugs across various oral and topical product formats. The technology is also protected by a robust portfolio of 28 patents granted worldwide as of February 2023… Lastly, and perhaps most importantly, Lexaria has substantially invested in research and development (‘R&D’), an aspect of its operations that is 100% within its control. According to CEO Chris Bunka, the company has designed its applied R&D to boost its commercial prospects, and this ‘is paying off in spades,’ as it has, among others, ‘yielded almost entirely positive results.’”

To view the full article, visit https://cnw.fm/dikY2

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 28 patents granted and many patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

About CannabisNewsWire

CannabisNewsWire (CNW) is 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)

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Patented DehydraTECH(TM) Drug Delivery Technology Demonstrates Growing List of Potential Applications as Evidenced Through Numerous R&D Programs

  • DehydraTECH(TM) is suitable for use with a wide range of product formats, including pharmaceuticals, nutraceuticals, and over-the-counter capsules, pills, tablets, topicals, oral suspensions and more
  • The patented technology increases the speed of onset, bioavailability, brain absorption, and reduces drug administration costs
  • Lexaria currently has multiple R&D programs – yielding successful results and further opportunities for additional study models

Lexaria Bioscience (NASDAQ: LEXX), a global innovator of drug delivery platforms, is increasing bioavailability and improving the way that active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery with its patented DehydraTECH(TM) technology. DehydraTECH is suitable for use with a wide range of product formats, including pharmaceuticals, nutraceuticals, and over-the-counter capsules, pills, tablets, topicals, oral suspensions and more.

Most recently, a company announcement indicates that a just-completed DIAB-A22-1 diabetes study has produced at least three positive outcomes, including weight loss in obese diabetic-conditioned animals and shown improved triglyceride and cholesterol levels (https://cnw.fm/ORSPL). The animals tested in the study showed these dramatic changes in as few as three days when dosed with DehydraTECH-processed cannabidiol (“CBD”), aligned with other study work pointing to CBD’s known anti-inflammatory and antioxidant properties. Lexaria is pleased that relatively low dosages of DehydraTECH-CBD seem to support real improvements in the lab animals’ day-to-day health and find encouragement in the positive findings from its first diabetes study.

In addition to DIAB-A22-1, some of Lexaria’s previous R&D programs include:

  • HYPER-A21-1 – a rodent study demonstrating significant enhancement in CBD delivery using DehydraTECH with more CBD delivered into the bloodstream and brain tissue
  • HYPER-A21-2 – a rodent study demonstrating the strongest CBD absorption results ever recorded
  • HYPER-H21-1 – Human clinical study evidencing a rapid and sustained drop in blood pressure with excellent tolerability using DehydraTECH-CBD
  • HYPER-H21-2 – Human clinical Hypoxic Pulmonary Vasoconstriction study with evidence of up to a 23% decrease in blood pressure confirming a reduction in arterial stiffness
  • HYPER-H21-3 – Human clinical Pulmonary Hypertension Clinical Study intended to support Lexaria’s plan to seek FDA approvals
  • HYPER-H21-4 – Human clinical study exhibiting exceptional safety and tolerability with statistically significant evidence of lowered blood pressure in patients and showed great absorption levels and potential novel mechanism of action in reducing blood pressure
  • VIRAL-C21-3 – In vitro screening assay completed using primate cell line, VERO-E6, determining that remdesivir and ebastine processed with DehydraTECH were effective in inhibiting the COVID-19 virus
  • VIRAL-A20-2 – A rodent study showing a three-fold increase in oral delivery of anti-viral drugs
  • VIRAL-MC21-1 – research concluded that DehydraTECH processing and formulation technology does not create a covalently bonded new molecular entity or change in chemical structure
  • VIRAL-A20-3 – A rodent study demonstrating significant enhancement in anti-viral drug delivery using DehydraTECH-enabled Colchicine with possible benefits of treating COVID-19 and mRNA vaccine side effects
  • NIC-A21-1 – DehydraTECH-oral nicotine delivery peaked in the bloodstream 10x and 20x faster than controls, with peak levels achieved 10x higher than controls
  • PDE5-A21-1 – DehydraTECH-sildenafil delivered 74% more drug at 4 minutes than the control
  • EPIL-A21-1 – DehydraTECH-CBD has demonstrated performance enhancements compared to one of the world’s leading anti-seizure medications, Epidiolex(R)

Since 2014, Lexaria has been developing its patented DehydraTECH technology, which has yielded 28 granted patents and many more pending in countries worldwide. DehydraTECH’s evidenced benefits include the improved speed of onset, increased bioavailability, increased brain absorption, and reduced drug administration costs. As more research becomes available from Lexaria’s ongoing R&D programs, the company will provide updates.

Lexaria operates four subsidiary companies, focusing on different commercial opportunities in their respective industries:

  • Lexaria Pharmaceutical Corp. investigates new products for hypertension, antiviral treatments, epilepsy, some pharmaceutical applications of nicotine and other drug classes
  • Lexaria Nicotine LLC investigates oral non-combusted tobacco-derived nicotine product formats
  • Lexaria Hemp Corp. pursues business-to-business opportunities with cannabinoids
  • Lexaria Canpharm ULC operates a state-of-the-art Health Canada licensed laboratory capable of developing novel cannabinoid and other formulations for potential commercialization

Lexaria sub-licenses the company’s DehydraTECH technology for the delivery of fat-soluble active molecules and drugs.

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

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

About CannabisNewsWire

CannabisNewsWire (CNW) is 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

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Analysis Finds Wisconsin Residents Bought $121M Worth of Marijuana from Illinois in 2022

A new analysis shows that residents in the state of Wisconsin bought $121.2 millions worth of cannabis from licensed retailers in Illinois last year. This contributed roughly $36 million in taxes to the neighboring state. The data was requested by Melissa Agard, the Senate Majority Leader, who asked the Legislative Fiscal Bureau to look into how much was going into Illinois through out-of-state marijuana purchases. Agard has in past sessions sponsored legalization measures.

The nonpartisan bureau released its results last week after examining data obtained from the Department of Financial & Professional Regulation in Illinois, which breaks down monthly out-of-state and in-state marijuana sales. These estimates were premised on an assumption that all the out-of-state cannabis purchases within counties bordering Wisconsin were by the state’s residents.

The bureau also highlighted that the exact figures could be lower or higher, based on various factors, such as the possibility that residents of Wisconsin may have completed their marijuana transactions in counties that don’t share a direct border with Wisconsin, such as Cook County, or that a portion of out-of-state sales in border counties came from residents of other neighboring states.

Additionally, the report doesn’t take into account possible sales within other states with adult-use marijuana near Wisconsin.

Despite this, the report does give a rough range of the magnitude of revenue the state of Wisconsin’s missing out on the longer it fails to establish a regulated cannabis market.

A press statement from Agard asserts that the cannabis revenue generated in bordering Illinois could be allocated toward transportation infrastructure, public schools and public safety in Wisconsin. She further noted that legalizing cannabis for responsible use by adults would generate considerable revenue for main streets, support entrepreneurship, reinvest in the state’s agriculture and farming heritage, safely regulate the existing illegal market and address the racial disparities arising from cannabis prohibition.

Agard stated that she planned to introduce her measure again if GOP officials chose to exclude it from the budget, arguing that the time had come to legalize cannabis for the betterment of the state and its residents.

An unrelated report from last month also established that 50% of individuals aged 21 years and older in Wisconsin lived approximately 75 minutes from an out-of-state marijuana retailer. This figure is expected to grow if legislative efforts to legalize cannabis in neighboring Minnesota are successful.

Meanwhile, Governor Tony Evers announced his biennial budgetary estimates in February, which included language to legalize recreational and medical cannabis in the state.

Besides tax benefits, states stand to create significant job opportunities when marijuana is legalized because companies serving that space, such as Advanced Container Technologies Inc. (OTC: ACTX), could grow and need additional manpower as they pursue market opportunities that results from such legislation.

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

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420 with CNW — Kentucky Senate Approves Medical Cannabis Legalization Bill

The Kentucky Senate recently passed medical cannabis legislation, just in time for the bill to advance to the House of Representatives. The move comes two days after the bill, SB 47, was approved by the Senate Licensing and Occupations Committee.

Previously, a bill to legalize medical marijuana was passed by the House last year and in a previous session, but the Senate did not take any action on those bills. Thus, proponents began working on the Senate side this session to improve the bill’s chances of passage.

Some provisions of the measure include:

  • Patients with severe pain, cancer, epilepsy, muscle spasms, multiple sclerosis, PTSD, chronic nausea or any other illness the state’s center for marijuana deem appropriate may be eligible to use cannabis as long as they have a medical practitioner’s prescription.
  • While smoking is prohibited, users can still access raw marijuana for vaporization.
  • Patients are allowed to keep up to 30 days of cannabis in their homes and up to 10 days on them at any given time.
  • Products made from marijuana flowers would have a THC cap of 35%, while concentrates would have a 70% cap.
  • The establishment of a nine-person Board of Advisors and Physicians made up of two advanced nurse practitioners and seven doctors.

One of the reform’s main obstacles has been Damon Thayer, Senate Majority Leader, who has vehemently opposed broad medical marijuana policy reform on the grounds that it would hasten the legalization of recreational cannabis. However, more recently, he declared that if the bill received enough support to pass, he would not obstruct it. This week, he voted in favor of the legislation in the senate committee, citing how well targeted it was. He also supported the bill during Thursday’s Senate debate.

Activists have constantly put pressure on legislators to pass reform this session, with organizations such as Kentucky NORML and Moms for Medical Marijuana (KMMC) making it clear that the issue has been in limbo for far too long.

In January, Kentucky Governor Andy Beshear (D) urged lawmakers to legalize medical marijuana, saying that doing so is a crucial reform that will ensure that the state is treating its citizens fairly. The governor’s speech came a few months after he signed two executive orders that regulated the sale of delta-8 THC products and permitted patients to possess not more than eight ounces of medical marijuana purchased from other states, provided certain criteria was met.

The use of marijuana for therapeutic purposes isn’t a random thing; plenty of studies have documented its medicinal potential. This is why for-profit companies such as India Globalization Capital Inc. (NYSE American: IGC) are also conducting preclinical and clinical development programs with the objective of bringing to market formulations for conditions such as chronic pain.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital 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.

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

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CannabisNewsBreaks – ECGI Holdings Inc. (ECGI) Inks Binding LOI to Acquire 8bit Cannabis Brand

ECGI Holdings (OTC: ECGI), D/B/A Elite Cannabis Group Incorporated, a Nevada -based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, has signed a binding letter of intent regarding the acquisition of key personnel, intellectual property, business operations and future business operations of Endless Consciousness Inc. (“EC”). A California corporation involved in the legal cannabis-product marketplace, EC recently launched a new brand, 8bit, which has experienced a rapidly expanding distribution footprint this year, with supplier relationships now reaching 20 dispensaries. Earlier this month, ECGI announced plans to acquire EC; the announcement observed that EC has serviced more than 250 stores and managed products for 1,000-plus stores located in several states, establishing a strong track record of sales experience. “We are very excited to move this deal forward, and assigning the ‘binding’ designation to our existing relationship helps to foster credibility with our current and future capital partners, driving value for our shareholders as we ramp up commercial operations,” said ECGI Holdings CEO Danny Wong in the press release. “EC, through their 8bit brand, has a top team, and we are now seeing that brand footprint grow. We are very well positioned to augment that growth as we bring this blue-chip team on board. . . . We look forward to keeping our current and prospective shareholders informed as we progress toward closing this acquisition and cementing our place as an emerging leader in the California cannabis marketplace.”

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

About ECGI Holdings Inc.

ECGI Holdings, which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with California-based targets, including undercapitalized and distressed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with national expansion possibilities. For more information about the company, please visit info@ECGIHoldings.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.

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420 with CNW — Kentucky Legislators Approve Medical Cannabis Bill

After years of hitting a brick wall, proponents of medical cannabis legalization in Kentucky have made progress when their legislation won support from a significant Republican leader and passed a Senate committee. Applause broke out from supporters when Senate Majority Leader Damon Thayer changed his vote from opposing the legislation to supporting it. Thayer approved the specific objectives of the bill and stated that he supported it because of those who were suffering.

During the bill debate, opponents of the measure sympathized with those who experienced chronic pain and other conditions, but they cautioned that marijuana use could be addictive and result in worse side effects.

Eric Crawford, a mainstay in the movement to legalize medical marijuana, presented Kentucky legislators with the same argument he has been making for years. He claimed that he uses medical cannabis instead of opioids to treat muscle spasms and pain caused by injuries he sustained in a car accident decades ago.

The Senate Committee passed the measure, SB47, with an 8 to 3 vote. It now moves to the full Senate, where cannabis legalization measures have previously failed to advance past the committee stage and have died without even receiving a hearing. For the bill to become law during this year’s 30-day legislative session, it would need to pass the Senate and pass through the House for final approval. Similar drafts have previously been approved by the House. Both chambers are controlled by the Republican Party.

Democratic Governor Andy Beshear, who had grown weary of years of inaction, partially lifted the state’s ban on medical marijuana last year. In accordance with Beshear’s decision, Kentuckians are permitted to possess medical marijuana for a limited range of conditions as long as it is obtained legally in another state. They must retain their receipt as evidence, and a licensed medical practitioner must certify that they are suffering from a qualifying condition.

The measure being considered would legalize and allow Kentucky agencies to control medical cannabis in the state. Medical marijuana will be prescribed for a range of conditions, such as cancer, chronic pain, multiple sclerosis, chronic nausea, epilepsy and PTSD.

Eligible individuals would need a card to be allowed to get the prescription. Additionally, patients under the age of 18 will not be able to obtain or possess medical marijuana without the help of a designated caregiver.

The legislation’s lead sponsor, Senator Stephen West, noted that the bill would not go into effect until the beginning of 2025 to give state health officials time to develop guidelines to oversee the program.

If the measure is enacted into law, many opportunities outside the immediate sphere of the marijuana program will open up for residents. For example, many companies, such as Advanced Container Technologies Inc. (OTC: ACTX), have found their niche serving enterprises dealing in marijuana and its products. These ancillary entities also stand to benefit when legalization occurs.

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 Legalization Bill in Minnesota Sees Major Overhaul

Earlier this year, a Minnesota House committee approved a measure to legalize recreational cannabis for adults in the state. The legislation was an updated version of a recreational cannabis bill that had advanced from the Minnesota House but failed to pass the then-Republican-controlled Senate.

Once it was approved, the bill was set to be scrutinized by more than 10 committees in the House before heading to the Senate. The recreational cannabis measure recently got a major overhaul and was amended to include new language to protect Minnesota’s nascent low-potency drinkables and edibles segment. Low-potency cannabis products are made using THC (delta-9 tetrahydrocannabinol) from industrial hemp rather than marijuana.

Although both hemp and marijuana are in the cannabis family of plants, industrial hemp is required by law to contain less than 0.3% THC while state-legal marijuana has no such limits.

Legislators in the state and local government committee added the hemp provisions to the Senate version of the bill. House Commerce Committee chairman and lead House author Representative Zack Stephenson said that similar language will be added to the House version of the bill this week. Colead author, Senator Lindsey Port, told the local and state government panel that cannabis prohibition is a “failed system” that hasn’t achieved any of its goals.

Prohibitionist policies were first launched under the guise of tackling drug addiction and defunding the criminal organizations that run the drug trade, but those policies disproportionately affected communities of color and exacerbated already existing racial paradigms.

Port noted that the 142-page amendment focused on licensing and regulatory provisions to address feedback from stakeholders in the low-THC segment.

Unlike cannabis businesses, which have very limited access to capital and banking services, players in the hemp industry can access capital and deduct business expenses from their taxes. However, the two expressed concern that the measure’s original language would lump some entities too closely with incoming marijuana businesses and limit access to crucial financial services. Port also said that the amendments gave local governments more control over cannabis markets but prevented government officials from issuing total bans on marijuana businesses within their jurisdictions.

Both Senate and House versions of the bill have gone through more than 20 committees and are expected to pass through a few more before heading to a vote on the floor.

The House version will likely pass the floor vote as the House already passed a previous version of the bill last year, but the bill’s chances in the Senate will depend on whether its backers can secure enough votes. Stephenson said that he believes the bill has strong support and that they may have even secured support from some Republican lawmakers by the time the measure gets to the floor.

As these legislators move to bring an end to marijuana prohibition in the state, entities elsewhere such as India Globalization Capital Inc. (NYSE American: IGC) are making promising strides in their bids to develop medicinal formulations from cannabis that will pass FDA scrutiny and be approved for use against conditions such as chronic pain.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital 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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CannabisNewsWire420
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