420 with CNW — Maryland Starts Receiving Applications for Cannabis Business Grants

Maryland authorities are currently open to receiving grant applications aimed at assisting established medical marijuana enterprises in transitioning into dual license holders, enabling the businesses to cater to the recreational market once legalization comes into effect in the upcoming month. In addition, the state’s Department of Commerce (DOC) has announced that beginning on Aug. 1, 2023, it will start accepting applications for loans and grants intended to enhance market engagement from holders of social equity licenses by providing initial capital and covering operational costs.

The fund, established by a recent marijuana legislation bill signed by Governor Wes Moore in May, will also provide grants to HBCUs (historically black colleges or universities) for cannabis-related programs, such as initiatives for training and business development.

For the initial phase of assistance, the DOC has announced its acceptance of applications for grants covering medical license transition fees. These grants will cover the application expenses for established medical cannabis dispensaries, growers and processors that need to transition into dual license holders according to the draft regulations recently released by the MCA.

Qualifying businesses can potentially obtain grants ranging between $25,000 and $50,000, depending on their license type, to facilitate the transition. Applications will be reviewed and approved progressively until the end of June. Businesses that meet the criteria but have already paid the fee may also apply for a refund.

To qualify, applicants must be small businesses with a maximum of 50 employees as of May 1, 2023. Additionally, the enterprise must be at least 51% owned by people whose net worth doesn’t surpass $1.7 million.

During a subsequent round of assistance scheduled for August 2023, the state will utilize the same fund to distribute loans to social equity enterprises that obtained preapproval prior to Oct. 1, 2022, and have the capacity to start up and take part in the marijuana industry.

A third initiative supported by the fund will promote HBCU marijuana-related programs, which will aid enterprises in the license application process, as well as boost development organizations such as incubators. The funds will also be used to train and assist small firms, particularly those run by women and minorities, as well as business owners who want to join the recreational marijuana industry.

Maryland’s cannabis regulators recently unveiled a set of preliminary emergency regulations that are currently awaiting assessment by the AELR committee. These regulations must also undergo publication in the Maryland Register prior to their implementation.

The comprehensive draft, spanning 41 pages, introduces explicit definitions, formalizes limits on personal possession, delineates the obligations of regulatory entities, elucidates the licensing process (including provisions for social equity candidates), specifies the powers of enforcement agencies, and outlines the consequences and fines for noncompliance. Additionally, the document establishes clear guidelines for labeling and packaging.

As the recreational marijuana program in Maryland takes shape and gets underway, there is likely to be a boom in economic activity for a wide-ranging variety of enterprises, such as Advanced Container Technologies Inc. (OTC: ACTX), which seek to provide supplies such as grow pods that cultivators need to grow marijuana more profitably.

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

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

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420 with CNW — Researchers Explore Combining Psilocybin, Cannabinoids in New Therapeutic Formulations

The convergence of cannabinoids and psilocybin in a unified formulation to address physical and psychological well-being has moved closer to realization as highlighted in a patent filed by a prominent cannabinoid laboratory called CaaMTech. Situated in Issaquah, Washington, just under 20 miles southeast of Seattle, CaaMTech is conducting an analysis of the mutual interactions between these two compounds and the specific outcomes they can yield in terms of physical and mental health.

Presently, the company’s refined psilocybin-cannabinoid formulation is still in the early stages of development. This patent progress comes at a time when the availability of genetic information on marijuana and psilocybin is increasing, which presents opportunities to explore novel ways in which these substances can collaborate, potentially resulting in the creation of innovative commercial offerings.

For example, the combination of marijuana and psilocybin has demonstrated tumor reduction in the case report of a 49-year-old woman with breast cancer. This discovery has prompted researchers to conclude that mounting empirical and anecdotal evidence supports the therapeutic potential of cannabinoids as well as psychedelics in diminishing tumor growth while also providing relief from pain and psychological distress associated with cancer and chemo.

Researchers now envision a comprehensive solution to address extreme mental health disorders and inflammation by harnessing the beneficial properties of both substances. One potential approach involves incorporating psilocybin with a minor cannabinoid such as cannabichromene (CBC), which is abundantly present in cannabis plants. This amalgamation could potentially result in a one-time treatment option.

Daniel McQueen, executive director of the Boulder, Colorado-based Center for Medicinal Mindfulness and author of a book titled “Psychedelic Cannabis,” has been facilitating marijuana-assisted psychedelic therapy at the organization. This therapy involves overseeing individual psychedelic cannabis and ketamine experiences alongside guided meditation, personal coaching, educational classes, as well as community support.

McQueen agrees that the creation of a psilocybin-marijuana pill or combination compound is entirely feasible. Nevertheless, there are significant obstacles to overcome in developing such a compound. Cannabinoids and psychedelics interact with distinct receptors in the brain. THC, a cannabinoid, predominantly binds to CB1 receptors, while CBC primarily binds to CB2 receptors. On the other hand, psilocybin, a psychedelic, primarily binds to 5-HT2A serotonin receptors.

However, research has indicated that CBD, one of the abundant cannabinoids, interacts with serotonin’s receptors, and when serotonin is coupled with a CB2 cannabinoid receptor, this combination can produce effects that none of the receptors can achieve independently. A study conducted by Spanish scientists in 2022 focusing on ischemia in newborn piglets revealed that CBD activates serotonin receptors, leading to neuroprotective effects.

Researchers continue to diligently seek improved solutions to address mental health concerns, regardless of the substances involved.

Other research teams, such as the team at IGC Pharma Inc. (NYSE American: IGC), are focusing on developing therapeutics from THC and other cannabinoids for use in the mainstream healthcare system.

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420 with CNW — Federal Study Concludes Breathalyzers Are Unreliable as Recent Cannabis-Use Tests

A recent study funded by the federal government highlights the challenges associated with developing a cannabis breathalyzer. The research, conducted by National Institute of Standards and Technology (NIST) and Colorado Boulder University, demonstrates that determining recent marijuana use based on THC levels in breath is highly unreliable due to inconsistencies.

The study, published in the “Breath Research” Journal, involved 18 participants from Colorado who consumed retail marijuana with approximately 25% THC. Breath and blood samples were taken 15 minutes before and one hour after smoking marijuana, using a well-equipped white van conveniently parked outside their homes. The analysis was conducted in a laboratory setting, as NIST clarified that it is not currently working on a breathalyzer device. Instead, the agency concentrated on learning more about how to precisely measure THC and other related substances in a breath sample.

Only 8 of the 14 individuals who supplied breath samples before and after using marijuana showed the anticipated increase in THC levels. The remaining findings lacked clarity, with three after-use breath samples exhibiting no detectable THC, and the others exhibiting amounts that were comparable to or lower than the baseline.

In contrast, the study found that the level of THC in the blood, specifically measured through plasma, proved to be a more accurate indicator of recent marijuana use. Even though THC levels in blood demonstrated compliance with the study procedure and showed a considerable increase right after usage, THC levels in breath after an hour did not always surpass the baseline.

Tara Lovestead, the supervisory chemical engineer at NIST and coauthor of the report, expressed surprise at the similar range of THC levels in breath samples taken before and after marijuana use.

While the study’s small scale limits the statistical significance of the results, NIST and the authors emphasized the need for more research.

As cannabis legalization progresses in more states, entrepreneurs and scientists are striving to create THC field sobriety tests, such as breathalyzers. However, despite efforts from companies such as Hound Labs in Oakland, California, which anticipated deploying its device to regulators and law enforcement in 2016, widespread adoption of any marijuana field sobriety test has not yet been achieved.

The recent study received funding from a grant provided by the DOJ’s National Institute of Justice. The study team has also received an extra $1.5 million to carry out and expand the study. To provide more statistically meaningful results, the following phase will include 40 or more people and more breath samples.

The marijuana industry is still in flux, and much could change at the state and federal level regarding the way in which this substance is regulated. This is because policy often evolves in response to the emerging scientific data about something, and marijuana policy is no different. As society changes its perception towards marijuana, we are seeing many companies such as IGC Pharma Inc. (NYSE American: IGC) seeking to tap the medicinal qualities of cannabis by developing formulations for chronic pain and other indications from compounds extracted from the marijuana plant. These drugs could broaden the options that patients have in the coming years.

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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.

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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

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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.

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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.

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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).

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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.

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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

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