Category: CannabisNewsWire Release

420 with CNW — Twitter Ad Policies Pose Challenges for Cannabis Advertisers

Businesses in the cannabis sector have had to deal with extremely restrictive marketing and advertising regulations since the industry’s inception. Since cannabis is still considered a Schedule I controlled drug at the federal level, most advertisers simply cannot advertise cannabis products without running afoul of federal law.

Furthermore, states with legal cannabis products often place severe restrictions on advertising to prevent exposing cannabis to children and youth. Consequently, cannabis businesses have been forced to find ways outside the usual marketing pipelines to advertise their products to the public.

Twitter, which has more than 350 million users globally, announced in March that it would allow approved cannabis businesses to advertise on the platform, finally granting multitudes of marijuana businesses a way of marketing themselves.  However, some experts questioned whether the looser restrictions on marijuana advertising would actually have a meaningful effect on America’s state-legal cannabis industry.

Those experts noted that Twitter was a relatively small platform compared to the likes of Facebook and Instagram, which have billions of users. The platform has also suffered from technical problems amid recent layoffs and has lost more than one-half of its top 1,000 advertisers in recent months.

Although Twitter eased cannabis advertising policies further in May, stating that marijuana businesses could continue linking their Twitter accounts to their e-commerce sites, businesses in the cannabis space are still struggling to leverage the platform’s relatively wide reach. In many cases, marijuana businesses are held back by regulatory red tape coupled with high costs and Twitter’s inexperience with the state-legal cannabis sector.

For starters, a gold check mark next to a business’ username costs $1,000 a month, an expense many small businesses simply cannot afford to pay while dealing with high taxes, competition from the black market and low prices. According to multistate operator Battle Green’s director for marketing Nikki Stanely, Twitter doesn’t always allow the company to reach the customers it is seeking, stating that users on the platform seem to be more interested in the entrepreneurial side of cannabis instead of commerce.

Twitter may be among the first platforms to allow some kind of cannabis advertising but stakeholders have reported mixed results.

Some users said their ads were taken down and accounts disabled mere hours after Twitter allowed cannabis advertisements.

The recent changes allow cannabis companies to show ads that feature product-specific content and promote their brands but do not allow pricing and offers of discounts, promotions, giveaways and contests.

With time, these restrictions could be eased further, giving cannabis companies a better chance of reaching their target markets and ramping up their production in tandem with the growing sales. As the sales of marijuana products increase, so could the sales of companies such as Advanced Container Technologies Inc. (OTC: ACTX), which are in the business of providing cultivation equipment to cannabis growers.

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 — NJ Regulators to Only Grant Social Equity Applicants Cannabis Licenses

Social equity has been a major part of America’s state-level cannabis reform over the past decade. People of color were significantly more likely to be arrested for cannabis-related offenses and receive harsh sentences compared to White people throughout the entirety of the drug war despite similar use rates.

As a result, entire Black and Brown communities were decimated, sending multitudes of parents and breadwinners to prison for relatively tame offenses and saddling them with criminal records that made it difficult to integrate back into society. Furthermore, entire generations of children were forced to grow up in poverty as their parents were either incarcerated or couldn’t secure proper employment due to their criminal records.

Most states with cannabis programs now have social equity provisions that give applicants from communities that were disproportionately affected by the drug war a slight advantage in the growing cannabis industry. Whether it’s directing a percentage of cannabis taxes to these communities or giving them a leg-up in the cannabis sector, these provisions are meant to alleviate some of the harms caused by the drug war.

In New Jersey, cannabis regulators are looking to boost social equity by allowing only people with prior cannabis convictions to receive certain marijuana licenses for 12 months. This move is meant to increase the number of social equity applicants running retail marijuana establishments in the state, especially individuals with prior marijuana-related convictions or those residing in economically disenfranchised regions of the state.

The New Jersey Cannabis Regulatory Commission announced last week that from September 12, 2023, it will only accept applications for wholesale, distribution and delivery licenses from social equity applicants for an entire year. According to Commissioner Charles Baker, the regulator made the move to support social equity applicants because the state has done little to support these individuals since New Jersey’s recreational cannabis market launched in April 2022. He noted that businesses run by people who were disproportionately affected by the drug war don’t seem to be making it through the license application process.

During last week’s meeting, agency officials noted that less than 250 applicants out of 947 social equity applicants had received approval by the start of the year. For 12 months starting on September 27, license applications by individuals who don’t qualify for social equity status will be automatically rejected. However, this will not include individuals applying for manufacturing, retail or cultivation licenses as well as businesses owned by veterans, women and minorities.

As these social equity license applicants obtain approval by the state, they could have a chance to deploy modern equipment such as the microgardens made by Advanced Container Technologies Inc. (OTC: ACTX) to optimize their cultivation and increase their chances of turning a decent profit from their state-legal cannabis businesses.

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Yields Most Convincing Evidence for Anti-Inflammatory Actions of CBD with its DehydraTECH(TM)-CBD

  • Lexaria just announced additional findings from its HYPER-H21-4 human clinical study, highlighting significant reductions in several pro-inflammatory biomarkers associated with cardiovascular disease
  • This has been termed as “the most convincing evidence in humans,” ultimately showcasing the potential of the company’s patented DehydraTECH(TM)-processed CBD
  • Other third-party research studies have failed to demonstrate a sustained decrease in resting blood pressure with oral CBD dosing. More so, none have yielded evidence of the anti-inflammatory actions of CBD until Lexaria’s HYPER-H21-4 human clinical study

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently announced additional findings from its HYPER-H21-4 human clinical study that sought to explore the potential of its patented DehydraTECH(TM)-processed cannabidiol (“CBD”) in reducing blood pressure (“BP”). Of note was the demonstration of significant reductions in several pro-inflammatory biomarkers associated with cardiovascular disease (“CVD”) in what was described as “the most convincing evidence in humans” of the anti-inflammatory actions of CBD.

“There is some pre-clinical evidence for the anti-inflammatory actions of CBD, but this is likely the most convincing evidence in humans that I have ever seen,” noted Dr. Philip Ainslie, Cardiovascular Advisor to Lexaria and Lead Investigator of Study HYPER-H21-4 (https://cnw.fm/UQFIv).

This finding adds to the success of the ambitious HYPER-H21-4, which successfully met all primary efficacy and safety objectives, with resting BP showing a significant reduction among hypertensive patients. Furthermore, this reduction in BP was sustained over a full 5-weeks of dosing, with no serious adverse events reported.  This built on the findings from the four previous human clinical studies conducted from 2018 to 2022, all of which have paved the way for Lexaria’s anticipated U.S. Food and Drug Administration (“FDA”) HYPER-H23-1 clinical study, its most ambitious yet.

Titled “A Phase 1b Randomized, Double-Blind, Placebo-Controlled Study of the Safety, Pharmacokinetics, and Pharmacodynamics of DehydraTECH-CBD, and Pharmacodynamics of DehydraTECH-CBD in Subjects with Stage 1 or Stage 2 Hypertension,” HYPER-H23-1 looks to build on all previous studies conducted by Lexaria thus far. It also plays an integral role as a lead-up to IND filing this summer, with hopes for FDA authorization within 60 days after that.

So far, only a handful of other research studies have investigated whether a sustained decrease in resting blood pressure is possible following multiple weeks of oral CBD dosing. However, none have been successful at achieving it. More so, none have yielded evidence of the anti-inflammatory actions of CBD, which shows the potential of Lexaria’s DehydraTECH-CBD.

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.

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420 with CNW — ATF Reaffirms Ban on Gun Ownership for Marijuana Users

The federal regulatory agency overseeing the firearms industry, the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), has issued a cautionary notice emphasizing that residents of Minnesota who partake in marijuana consumption cannot legally possess firearms, despite the state’s recent legalization of recreational use.

While marijuana has been legalized for adults in 23 states and many others have implemented medical cannabis programs, the substance remains classified as a schedule I controlled substance under federal law, along with heroin and LSD. According to the St. Paul ATF office, individuals who engage in marijuana smoking or consume cannabis edibles are still regarded as “unlawful users” of a controlled substance in the eyes of the federal government. Consequently, they are barred from owning, transporting, receiving or possessing ammunition and firearms.

Jeff Reed, the acting special agent in charge of the St. Paul field division, urged gun owners to exercise caution, emphasizing that the combination of marijuana and firearms or ammunition remains a federal offense until marijuana is federally legalized.

Rob Doar, an advocate for second amendment rights and vice president of the Minnesota Gun Owners Caucus, finds the ATF’s advisory troubling. He has long been aware of the conflicting state and federal cannabis laws, regardless of whether it is used for medical or recreational purposes. Doar advises firearm owners to be mindful of the risks involved, despite the new law in Minnesota preventing sheriffs from denying carry permits based solely on participation in the medical cannabis program or adult marijuana use.

Doar actively advocated for the inclusion of this provision. “If ATF agents did not intend to enforce it, they might have let it slide,” he said, “creating a sort of unofficial acceptance that although it is illegal, similar to other federal cannabis regulations, it would not be enforced. The fact that they issued a notice raises concerns.”

Jason Tarasek, a cannabis attorney representing Vicente LLP, acknowledges that the federal government has generally turned a blind eye to states that have legalized marijuana, allowing them to operate without interference. However, he recognizes the predicament faced by gun owners. “We are currently navigating an intricate dance with the federal government,” he remarked.

Both Tarasek and Doar hope for clear guidance from Washington, whether through legislative measures or executive actions taken by the Biden administration. Tarasek believes that unambiguous direction from the federal government would provide reassurance to individuals in legal cannabis markets, alleviating concerns about potential federal repercussions.

However, Tarasek does not anticipate federal legalization in the near future. He points out that a decade ago, during the Obama administration, the Department of Justice issued guidelines indicating that it would not interfere with states that legalized marijuana as long as it did not hinder federal law enforcement priorities. Unfortunately, these guidelines were rescinded by then-U.S. Attorney General Jeff Sessions during President Donald Trump’s tenure.

The dilemmas that users of medical marijuana face in states where such programs exist justify the attempts by enterprises such as IGC Pharma Inc. (NYSE American: IGC) to formulate medicines that pass FDA scrutiny. Such formulations would address the medical needs of patients without posing any risk of adverse legal repercussions.

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 — Proposed California Law Could Legalize Marijuana Cafes

The wave of cannabis reform that has swept across America over the past two decades doesn’t seem to be stopping any time soon. By April 2023, nearly 40 states had medical marijuana markets while close to two dozen states allowed recreational cannabis sales.

California legalized recreational cannabis in November 2016 and was soon generating billions of dollars in revenue and state tax from adult-use cannabis sales. With California now home to what is undoubtedly the largest cannabis market in the world, state lawmakers are currently working on a bill that would legalize marijuana cafes and allow the sale of both nonalcoholic drinks and food in legal cannabis retail establishments.

California’s state assembly recently passed a bill to legalize cannabis cafes in the state in a 59 to 9 vote before pushing the legislation to the Senate for discussion.

Such businesses started popping up in California a couple of years ago in regions such as Palm Springs, West Hollywood and San Francisco. Even smaller cities such as Ojai considered marijuana cafes as a means of boosting tourism and tax revenue in the wake of the coronavirus pandemic and subsequent lockdowns.

However, California law banned indoor smoking at the time and had regulations designed to keep workplaces smoke free for the health of employees.

Brad Rowe, a University of California, Los Angeles adjunct professor of cannabis policy, said in 2019 that the marijuana cafe segment was in its infancy and still mired with plenty of legal complications. The recent law could clear up most of these complications and allow the segment to grow without any regulatory obstacles.

Speaking on the floor, bill sponsor Assemblymember Matt Haney noted that the cannabis industry is currently struggling under the weight of high taxes, a surging black market and an oversaturated space.

California’s cannabis black market has proven to be an especially tough problem to solve as a large portion of the population still prefers to buy cheaper cannabis from black market dealers. Coupled with high taxes from the state and an oversupply of sellers in the market, many small cannabis businesses are struggling to stay afloat.

The new bill would provide businesses in the cannabis space with a new avenue for generating revenue via the sale of noncannabis, prepackaged soft drinks and foods at licensed consumption lounges or cafes. However, the bill prohibits the sale and consumption of alcohol and tobacco at cannabis consumption lounges. It would, however,  allow live performances in cannabis lounges and the sale of performance tickets to the public.

If this proposal becomes law, it could inject new life into struggling cannabis companies, and they, in turn, could ramp up their production to meet the increased demand for marijuana products. When such a rise in demand materializes, the benefits could trickle down to entities that are in the business of manufacturing the equipment used to grow marijuana, such as Advanced Container Technologies Inc. (OTC: ACTX).

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 — California Cannabis Company Leverages Business Model from Boutique Wineries

As competition within the legal marijuana industry gets tougher and other factors, such as adverse weather and high taxes, eat into profits, companies are having to go the extra mile in order to drive sales up and stay afloat. One California company is taking lessons from the boutique wine business to grow its business.

The Bohemian Chemist, a Philo, California craft cannabis brand, has turned to its location in Mendocino County (renowned for wineries) and the Emerald Triangle (famed for its unique marijuana) for inspiration. Having a property that has several wineries as clients, Jim Roberts studied how the craft wine companies were running their businesses and remaining profitable even as they competed against large establishments.

Roberts discovered a recurring pattern in the wineries; three major factors were always at play to ensure the success of craft wine brands. First, the wineries would conduct direct sales to their clients at locations such as tasting rooms. Second, many would sell to clients at restaurants or even engage a distributor to make products available to customers at bottle shops. The third strategy was to start an exclusive club through which members enjoyed exclusive offers and periodic deliveries in boxes of assorted items. Roberts is implementing all these strategies.

The microbusiness that Roberts runs mostly sells his own products, though they also carry a limited number of products from other craft producers in the cannabis space. The company is located in a low-population town, so this makes foot traffic seasonal and limited.

When he first opened his business, the winery tenants and their clients had mixed reactions to the marijuana company. Many initially said they aren’t interested in marijuana, but a day or so later, they would come in asking if Roberts had anything that would help manage a shoulder pain or an ache they had. With time, many confessed they had consumed cannabis while in high school, and they wanted to take it up from where they had stopped.

The Alchemist, the company’s cannabis box for cannabis club members, became available in April, and Roberts is working with marijuana retailers as well as licensed cannabis delivery businesses to reach his customers. Marijuana club membership comes with a recurring membership fee, and Roberts is making his boxes a worthy investment for his customers by including products whose total price often exceeds the recurring fee one has to incur.

Additionally, the club members gain first access to any new products that hit his shelves, and many of those products are in such a small quantity that not everyone interested may get their hands on them. A total of three boxes will be sent out to customers every year, and Roberts is hopeful his model will keep his business profitable for years to come.

As Roberts and others like him look for ways to stand out in the crowded cannabis space, other entities such as IGC Pharma Inc. (NYSE American: IGC) are walking the path of developing standardized medicines from cannabinoids, including THC, so that once those formulations gain approval from the FDA, they will access a nearly limitless market within and outside the country.

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.

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

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420 with CNW — Minnesota Governor Appends Signature to Recreational Cannabis Legalization Bill

Minnesota Governor Tim Walz has officially signed a bill into law, paving the way for the legalization of recreational marijuana use in the state. This historic decision positions Minnesota as the 23rd state to permit the adult use of cannabis and the third in the Midwest region to do so.

The successful passage of the bill comes after a series of diligent efforts at the Capitol, including numerous committee hearings and multiple votes in both the house and senate. While the bill received strong support from Democratic-Farmer-Labor lawmakers, a handful of Republicans in the house also voted in favor of its enactment.

Although previous attempts to legalize marijuana had been made at the Capitol, the favorable outcome in 2023 can be attributed to the Democratic Party’s control of the senate, house and governor’s office after the November election.

As outlined in the legislation, individuals aged 21 years of age and above who are residents of Minnesota will be permitted to possess up to two ounces of marijuana in public and up to two pounds in their homes, effective August 1, 2023. The bill also includes provisions for the automatic expungement of low-level marijuana convictions and the establishment of a review board to assess eligibility for more serious offenses, providing individuals with prior convictions an opportunity to have their records cleared.

To ensure the responsible sale and regulation of cannabis products, the law establishes an Office of Cannabis Management, which will be entrusted with safeguarding consumer protection, promoting public health and upholding public safety within the legalized marketplace. Representative Zack Stephenson, the bill’s sponsor, expressed his satisfaction with the legislation, emphasizing its creation of a safe and well-regulated legal cannabis market. He also noted the inclusion of measures to address the disproportionate impact of previous cannabis laws on certain communities.

While Stephenson acknowledged that the implementation of regulatory and expungement measures would take time, he assured the public that these efforts would commence once the law takes effect. However, he cautioned that the establishment of licensed dispensaries could require up to 18 months, and the process of expunging tens of thousands of past cannabis convictions may extend over several years.

The sale of cannabis products will be subject to a 10% state tax. The legislation allocates approximately $80 million to support the implementation of new regulations and finance various programs related to the legalization of cannabis over the next two years. Furthermore, it includes funding for training law enforcement officers to identify signs of marijuana intoxication, addressing concerns about impaired driving.

Governor Tim Walz, recognized for his progressive stance on various issues, has recently signed several other significant bills into law, including measures that reinstate voting rights for individuals with felony convictions and legislation that enshrines the right to abortion in state law.

Minnesota’s decision to legalize recreational marijuana reflects the growing trend across states to adopt more progressive approaches to drug policy. The focus on regulation, social equity and criminal justice reform underscore the recognition of the evolving landscape surrounding cannabis use.

With recreational cannabis now legal in the state, many opportunities are likely to open up not only for marijuana organizations but also ancillary companies such as Advanced Container Technologies Inc. (OTC: ACTX) that cater to the needs of marijuana cultivators.

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 — Florida Recreational Cannabis Effort Notches Major Victory

Activists who have been working to put a recreational cannabis measure on the 2024 ballot in Florida have scored a major victory. The state’s department of health has announced that the initiative had tendered the required number of voter signatures to qualify the measure for next year’s ballot.

The measure, aimed at amending the state’s constitution in order to legalize adult-use marijuana, submitted 967,528 verified voter signatures. This number of signatures exceeds the minimum required by at least 70,000 voter signatures. Smart & Safe Florida spearheaded this campaign. However, it isn’t all done and dusted for the advocates. The measure still has the hurdle of clearing a review by the state’s Supreme Court, and the attorney general is expected to mount a spirited challenge to the ballot measure.

The campaigners revealed in April that they had so far injected $38.4 million into the push to let voters decide whether recreational marijuana should be legalized in the state next year. Trulieve Inc., a multistate cannabis company, bankrolled this effort. CEO Kim Rivers observed that the company was pleased to see the campaign had passed the signature requirement. She added that company officials looked forward to having the measure on the upcoming ballot in 2024.

Under this proposal, adults who are at least 21 years of age or older would be free to possess a maximum of 85 grams of cannabis for recreational use. In addition, companies that have licenses to sell medical cannabis would be allowed to be licensed to trade in recreational cannabis. Medical cannabis has been legal in the state since 2016 after a referendum approved this change to the existing drug laws.

Florida Attorney General Ashley Moody sent the measure to the highest court in the state for review. She has in the past opposed recreational cannabis legalization and is expected to maintain her stance once the matter comes up for review by the Supreme Court. The AG’s letter to the Supreme Court accompanying the measure indicates that she has reservations about the initiative’s compliance with state law. She points out that in the opinion of her office, this measure doesn’t adhere to the requirement stipulating that any ballot measure must be unambiguous and clear.

Both sides of the petition are expected to turn in their briefs to the Supreme Court by July 12, 2023. Thereafter, the court will schedule hearings to determine whether or not the proposed ballot measure should get the nod and be added to 2024’s ballot.

If this measure lands on the ballot, the turnout for the polls is expected to be boosted, especially among the younger voter demographic, because marijuana legalization has been a hot topic in the state. The matter could also be one of the major talking points during the entire campaign, possibly influencing the elections for all the positions available in the state.

Medical marijuana has had a fairly long history not only in Florida but in many other states that have legalized its use. It is not surprising that we are seeing plenty of enterprises such as IGC Pharma Inc. (NYSE American: IGC) looking to commercialize FDA-approved treatments from the cannabis plant.

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 — Missouri Cannabis Licensing Rules Worry Activists About Social Equity for Blacks

Adolphus Pruitt, St. Louis City’s NAACP president, was initially a vocal supporter of a marijuana legalization amendment aimed at addressing the lack of Black participation in the industry. However, his perspective changed when he discovered details of the requirements for those seeking microbusiness licenses outlined in the amendment.

The application was set to be released on June 6, 2023, and Pruitt was shocked to find that the list of qualifying zip codes did not include any areas in north St. Louis, where a significant portion of the Black population resides. Out of the 121 listed zip codes, only nine are from the St. Louis general area, and not a single one is from north St. Louis. Some zip codes are for post office boxes or institutions with higher-than-average mail traffic, while others cover areas with minimal residential presence or affluent suburbs. Only one zip code represents a predominantly Caucasian population. Applicants are required to prove their residence within the confines of those zip codes through utility bills, property tax receipts/bills or lease documents.

Following his discovery, Pruitt promptly wrote to the Health & Senior Services department of the state demanding corrections before the application’s release. The state plans to award 48 licenses to microbusinesses this coming fall, with the application window open from July 27–August 10, 2023.

Pruitt emphasized that the issues with the zip codes in St. Louis are just one aspect of the problematic nature of the state’s cannabis rules. Many of the listed zip codes are either post office boxes and unique codes, or are referred to rural locations with sparse populations.

The Cannabis Regulation Division’s head, Amy Moore, responded to Pruitt’s concerns, stating that the department stood by the listed zip codes. Moore explained that the analysis was based on incarceration data provided by the State Highway Patrol, the only comprehensive dataset available.

When questioned about the inclusion of specific St. Louis zip codes, the DHSS spokesperson mentioned their association with tract areas during census, but the highway patrol denied providing those zip codes to DHSS. Pruitt raised doubts about whether the zip codes accurately represented residents’ locations, suggesting that the presence of correctional facilities might explain the prevalence of rural zip codes. Moore clarified that correctional facilities did not skew the data, as only a few prisons fell within the listed zip codes.

Other concerns included the lack of education and outreach regarding the program. The law mandates the hiring of a chief equity officer to ensure social and economic equity requirements are met, but little outreach has been observed so far.

As these concerns are addressed and the recreational cannabis market gets underway, there could be openings for plenty of companies, including Advanced Container Technologies Inc. (OTC: ACTX), to build on their footprint within this region of the country.

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Thai Marijuana Sector Uncertain of Future as Incoming Government Considers Reversing Legalization Plans

Thailand’s winning party, Move Forward, has suggested reclassifying marijuana as a narcotic, even though it was legalized only a year ago. This idea has sent shock waves across a sector expected to be worth $1.2 billion in the coming years.

Since the legalization of marijuana consumption and growth, a slew of new businesses have sprung up, with multiple outlets in prominent tourist destinations such as Bangkok catering to thrilled tourists and local smokers with their selection of cannabis goods. However, business owners are concerned about a potential rollback of the liberal market by a new government.

Interestingly, a party from the departing military-backed government initially championed the decriminalization of marijuana, primarily for medical purposes. However, the drug’s legal status has remained ambiguous. Despite promises of legislation to establish clear regulations, the bill failed to pass through parliament, creating a legal vacuum that allowed a flourishing recreational marijuana industry to take shape in a nation known for its tough stance on drugs.

The Pheu Thai is one of the opposition parties that Move Forward hopes to join in a coalition government. The latter had promised during its campaign to ban recreational marijuana, citing concerns about public health and youth abuse. In its recently published political agenda, Move Forward and its partners propose reclassifying cannabis as a regulated substance with new regulations that support its beneficial applications.

This proposal has sparked unease among procannabis advocates, particularly progressive young individuals who played a significant role in the parties’ electoral success. By March, approximately one million individuals had registered as cannabis growers, though it remains uncertain whether they are all actively cultivating the plant. The exact number of unregistered growers is also unknown.

In response to the probable regulatory escalation, 200 businesses and 5,200 people have signed an online petition against the categorization of marijuana as a narcotic, claiming that doing so would violate people’s rights. Move Forward seems to be treading carefully as it traverses a sector that is expected to be worth $1.2 billion by 2025.

Sirikanya Tansakun, a party official, defended the proposal to reschedule marijuana and emphasized the need to fill the legal gap. She reassured businesses that they would have backing as the party navigated the parliamentary process of enacting laws. Tansakun declared that unlicensed street vendors and the smuggling of illegal marijuana imports would be targeted and forbidden, notwithstanding the likelihood of a broad crackdown.

The rollercoaster that efforts to legalize marijuana in Thailand are being taken through is something that companies such as IGC Pharma Inc. (NYSE American: IGC) are unlikely to experience given that their focus is on coming up with marijuana-based formulations that meet the criteria of the FDA and other regulators in the different markets where those companies hope to sell their medicines. The path to gaining regulatory approval is clear.

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.

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.