420 with CNW — NIDA Director Wants Cannabis Products Federally Regulated

According to a senior federal health official, cannabis products must be controlled as states continue to legalize marijuana. Nora Volkow, director of NIDA, stated that while it would be ideal if states took their time enacting reform, the reality is that they are enacting reform and people need to know what they can do to lessen negative impacts. Volkow asserted that it is crucial to regulate the sale of products and inform the public about potential negative consequences.

The official’s remarks are noteworthy because, although she did not specifically demand federal reform, such a shift in policy would be required to impose controls on interstate marijuana sales on a national level.

Volkow also acknowledged new studies looking into a potential connection between marijuana usage and an increased risk of psychosis, noting that regrettably, cannabis may not be as innocuous as it appears. Although Volkow cautioned against the potential risk of heavy use of marijuana products with high potency, she stated in 2021 that she hasn’t yet seen proof that occasional marijuana usage by adults is detrimental.

When it comes to regulations, Congress has sponsored multiple legalization measures in recent sessions, but none of those bills have been passed. The end result has been a hodgepodge of state-level regulatory frameworks.

This month, Volkow stated before a senate committee that there is growing evidence that psychedelics have a major potential as treatments for some mental health issues and that this is a subject of tremendous interest for academics. In recent years, the director has also turned into a strong opponent of drug criminalization generally, pointing out racial inequalities in enforcement and the futility of addressing addiction as a criminal rather than a public health issue.

According to Volkow, the criminalization of drugs has led to a systemically racist society where Blacks are regarded differently from other groups. Additionally, she discussed the link between drug criminalization and racial prejudice in 2021, stating that the United States is now dealing with a long history of discriminatory and racist laws, many of which are still in place today.

In a blog post from last year, Volkow stated that there is a pressing need to rethink addiction therapy, particularly by allocating more funds to diagnosing pre-addiction to enable patients to receive care before the condition.

Given the concerns being expressed about the high potency of the marijuana that is currently available, companies seeking to avail standardized medicines from cannabis, such as IGC Pharma Inc. (NYSE American: IGC), deserve to be applauded because those formulations, once approved, can offer users a safe way to benefit from cannabis compounds without exposing themselves to any potential risks associated with consuming high-potency marijuana while addressing their medical needs.

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.

420 with CNW — Maryland Governor Enacts Bill Offering Parental Protections for Using Medical Marijuana

Maryland Governor Wes Moore has signed a bill offering protections for parents and guardians who use medical marijuana. The bill prevents state officials from classifying parents who use medical marijuana for allowed conditions as being “neglectful” of their children.

After Maryland voters voted in favor of a ballot measure to legalize medical cannabis last year, state lawmakers passed regulations for the commercial market, which were signed into law by the governor. The new bill protecting parents will take effect on July 1, 2023, the same day Maryland’s medical marijuana market will launch and begin legal sales.

The measures to protect parents who participate in the medical marijuana market were passed by Maryland lawmakers last month in anticipation of the market’s official launch. According to the bill’s language, child neglect in Maryland will not include the use of marijuana by any individual or parent with temporary or permanent responsibility for the supervision of a child.

However, the bill provided certain exceptions, including cannabis use among parents and guardians being classified as neglect. This includes if the parent’s or guardian’s cannabis use harms the child’s health or welfare or places the child at significant risk of harm. The bill also allows adults aged 21 years and older to purchase and possess up to 1.5 ounces of cannabis and grow a pair of plants for personal use.

Maryland joins the dozens of states that now allow their residents to use medical marijuana if they suffer from one of several specified conditions. However, since marijuana is still illegal at the federal level, users can find themselves facing legal repercussions despite using cannabis in adherence with state law. States with legal markets have worked around this by providing legal users with protections that prevent them from being punished for using medical cannabis legally.

For example, in California, Governor Gavin Newsom signed a bill that would require social workers on call for child welfare to handle marijuana use by parents the same way they deal with alcohol. Assemblyman Reggie Jones-Sawyer, who sponsored the legislation, stated in a summary that marijuana use by itself shouldn’t be a basis for intervention into family life. He noted that just as with prescription medication and alcohol, guardians and parents should be able to legally and safely consume cannabis without fear of losing custody of their children as long as they aren’t putting the child’s safety and health at risk.

In Maryland, lawmakers recently moved to increase protections for cannabis users by approving a measure to prevent police from using the smell of cannabis as a basis for vehicle searches.

The additional reforms that the lawmakers in Maryland are making will further ease the environment within which cannabis users and companies operate, and this improvement could come with benefits for many companies connected with the cannabis space, including entities such as Advanced Container Technologies Inc. (OTC: ACTX) whose interest is in providing cultivation equipment geared at enabling the optimization of indoor cannabis cultivation.

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

About CNW420

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Jaxx Cannabis Owner, Veteran and Cannabis Advocate Featured in Recent Episode of The Plant Lady

Female empowerer and owner of Jaxx Cannabis, JM Balbuena, was featured in a recent episode of The Plant Lady podcast. JM joined host Jackie Bryant to discuss her wellness brand and dispensary’s humble beginnings in San Diego county, which wanted to scrub cannabis culture from its image, to the company’s success, which JM attributes much to patience and working for the system instead of against it. During the program, the host and guest “reminisce about the low-key dispensaries scattered around every neighborhood and the elaborate rouses needed as a front to keep them open like under-stocked coffee shops or deserted medical clinics. It’s not that these shops were selling illegal drugs, but that there weren’t enough licenses allowing businesses to sell weed in the cities. When supply meets demand and opportunity strikes, hundreds of dispensaries found ways to continue operation,” reads a recent article discussing the interview. JM goes on to describe her successes in owning a small business like Jaxx and advocating for social equity amongst the cannabis industry—as well as in the San Diego communities where her brand stood. This connected her with the residents of Ramona, Mount Hope and La Mesa who chose her over a larger company. Now, Jaxx Cannabis and JM are working with the Mount Hope Community Alliance Program to restore a park in the area to signify it as a landmark of San Diego. The local Jaxx brand helps fund social projects that will, in turn, uplift the collective population. “The culture is compassion and community. Those two things are the pillars of cannabis,” JM says during the episode. “You can have the money, but if people aren’t supporting you because they don’t feel that sense of culture, that sense of community, that sense of — you know — this is something good for the world and it’s just capitalism, then it’s not going to last long.”

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

About Jaxx Cannabis

Jack of all trades, female empowerer, and owner of a San Diego local cannabis retailer, JM Balbuena, got her start in the industry not long after Proposition 64 passed. In a newer fashion, JM opened her wellness brand and dispensary, Jaxx Cannabis, as a medical operation. Operating in one of the most conservative and regulated counties of California, JM waited her turn and played by the rules, allowing Jaxx Cannabis to start running and stay within its communities—unlike some competitors. JM attributes much of her success in keeping the business running to patience and working for the system instead of against it. To stay up-to-date on the expansion of Jaxx Cannabis, follow @jaxx.sandiego and @_jmbalbuena on Instagram.

About CannabisNewsWire

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

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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

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

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces Plans to Participate in Virtual Investor Events Next Week

InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development, manufacturing and commercialization of rare cannabinoids and cannabinoid analogs, will be represented at two upcoming investor events. The company announced that members of its executive team will be participating in the Tribe Public Webinar, slated for May 31, 2023, and the Investor Summit, scheduled for June 1, 2023. According to the announcement, InMed CEO Eric A. Adams and BayMedica VP of sales and marketing Jerry Griffin will cohost a presentation for the Tribe Public Webinar. The virtual presentation, titled “Addressing the Increasing Demand for Rare Cannabinoids,” will begin at 12 p.m. ET and will include time for questions and answers. At the Investor Summit, Adams will present a corporate overview followed by a Q&A session; his presentation is scheduled to begin at 11:30 a.m. ET. Both presentations will be available on the company’s website following the conclusion of the events.

To view the Tribe Public Webinar presentation, visit https://cnw.fm/3fSqq

To view the Investor Summit presentation, visit https://cnw.fm/X6TGn

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

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. The company also has significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, please visit www.InMedPharma.com.

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

About CannabisNewsWire

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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

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

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — AMA Study Says Medical Cannabis Causes Sustained, Significant Health Improvements

A recent study conducted by the AMA has revealed a significant relationship between the utilization of medical cannabis and notable enhancements in the quality of life experienced by individuals grappling with conditions like insomnia and chronic pain. In a comprehensive retrospective analysis, the researchers examined a sample of 3,148 individuals from Australia that had been prescribed medical cannabis to alleviate symptoms associated with various qualifying diseases.

The study found that cannabis appeared to be beneficial for all eight well-being indicators that were examined, with negative side effects that were infrequently severe.

Throughout their treatment, patients were tasked with assessing their overall well-being across eight distinct categories using a scale ranging from 0 to 100. These categories included bodily pain, general health, physical functioning, mental health, physical role restrictions, emotional role restrictions, vitality and social functioning.

The survey was administered to patients at approximately 45-day intervals, resulting in a total of 15 check-ups. The study discovered that those who used marijuana reported an average benefit range of 6.5 to 18.30 points on a scale of 100. Among the medical conditions for which cannabis has been prescribed, the ones that stood out were chronic pain, accounting for a substantial 68.6% of cases; pain resulting from cancer treatment at 6.0%; insomnia, with a prevalence of 4.8%; and anxiety disorders, accounting for 4.2% of cases.

Patients used a wide range of marijuana products with different cannabinoid compositions, dosages and intake techniques. Even so, there was little difference between the final effects. The researchers also noted a limitation in the study’s retrospective analytic technique, which resulted in a lack of control, making extrapolating the findings more difficult.

This study is only one of many recent research projects showcasing the medicinal advantages of marijuana, reflecting the growing global trend of countries revising their cannabis regulations. For instance, another AMA study revealed that patients with chronic pain who used medical marijuana for more than a month experienced a considerable drop in the amount of opioids they were prescribed.

Last year, the AMA released studies that revealed a significant correlation between the legalization of cannabis in certain states and a reduction in opioid prescriptions among specific cancer patients. Moreover, numerous other studies have consistently demonstrated a connection between the legalization of marijuana and a decline in opioid prescription rates as well as a decrease in the number of overdose fatalities.

Chronic pain comes out prominently as one of the conditions for which patients report benefiting from medical marijuana. It may come as no surprise that enterprises such as IGC Pharma Inc. (NYSE American: IGC) are seeking to develop FDA-approved formulations from cannabis to treat chronic pain and other symptoms.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Michigan Officials Consider Scrapping Pre-Employment Cannabis Testing

Officials in the state of Michigan are considering putting an end to drug testing for cannabis for job applicants of certain government positions. Last week, the state’s Civil Service Commission put forward some amendments to the government’s code of employment on Friday and opened a public comment period on the pair of policies.

This comes after the country’s largest union that represents federal employees adopted an initiative in support of cannabis legalization in 2022, and demanded that policies which penalized federal workers who use marijuana responsibly while they’re off the clock in legal states be repealed.

Commentary from the public may be emailed to MCSC-OGC@mi.gov and has to be submitted to the commission no later than June 23rd.

The first amendment will change the current code, which states that agencies must test applicants for marijuana and other substances. The code will be amended to highlight that drug testing will not be required for new hires who are to fill positions that aren’t test-designated. The current regulations also ban individuals who test positive for marijuana during the application process from applying to other state agencies, in addition to revoking their conditional offers.

Under the new regulation, individuals who currently have active sanctions based on a positive result for cannabis from a test done during the application process for nontest‐designated positions may request that their sanctions be rescinded.

The state of Michigan legalized the medical use of cannabis in 2008 and the recreational use of the drug a decade later.

This isn’t the only state looking into drug testing policies either. Last week, Governor Jay Inslee of Washington state signed a measure into law that protects workers from being discriminated against during the hiring process over their legal use of cannabis. Washington joins Nevada, which has also prohibited employment discrimination for testing positive for cannabis. Other states, including New York and California, offer broader employment protections for adults who lawfully use marijuana away from work and during their off-hours.

Some agencies are also following suit, with the Bureau of Alcohol, Tobacco, Firearms and Explosives recently updating its employment policy.

The updates make it so that applicants who have sold, manufactured or cultivated cannabis in compliance with state laws will not be automatically disqualified during the hiring process. However, those who engaged in these activities while violating state marijuana policies will not be considered.

Additionally, the Secret Service recently loosened restrictions on the previous use of cannabis by prospective agents.

Ending pre-employment cannabis testing could go a long way in getting people to feel freer to use marijuana for medical or recreational purposes. That, in turn, may boost demand for marijuana, thereby triggering a cascading wave of opportunities for even ancillary enterprises such as Advanced Container Technologies Inc. (OTC: ACTX) whose focus is on availing the supplies, such as indoor cultivation equipment, which marijuana companies need to thrive.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Florida Supreme Court Considers 2024 Recreational Cannabis Legalization Initiative

Earlier this week, Attorney General Ashley Moody submitted a ballot measure to legalize recreational cannabis to the Florida Supreme Court. Smart & Safe Florida, a political committee that supports the rights of adults to buy, possess and use cannabis within reasonable regulations, is sponsoring the proposed amendment to the constitution.

Thus far, the committee has gathered more than 222,000 signatures for its petition, which is more than enough to prompt a review by the Supreme Court. The Supreme Court usually focuses on whether the language in the proposal is clear as well as if the proposed amendments to the constitution are limited to single subjects.

Moody, who had sought an opinion on the proposal from the courts, indicated in her formal filing that she thought the initiative didn’t meet the legal requirements of part of state law to be brought before voters in the state next year. This move from Moody comes after she received a ballot measure notification from Secretary of State Cord Byrd in April.

In her statement, the AG added that she’d present additional arguments via a briefing at a later date.

For the measure to be placed on the November 2024 ballot, the sponsors will need to collect no less than 891,523 validated signatures on their petition. As of Monday, the total number of signatures stood at 786,747. If approved, the measure will allow individuals aged 21 and older to buy, possess and/or use cannabis products and cannabis accessories for nonmedical personal consumption by ingestion, smoking or otherwise.

The medical use of marijuana is already permitted in the state of Florida. In November 2016, voters approved Amendment 2, which broadly legalized the medical use of the drug for people with certain debilitating conditions or illnesses determined by a licensed physician in the state. This amendment also required that the state health department register and regulate cannabis production and distribution centers. However, it contained no provisions on home cultivation for medical cannabis patients or employment protections for eligible patients.

Overall, the medical use of marijuana is legal in 38 states, the federal District of Columbia and four out of five permanently inhabited U.S. territories.

The recreational use of marijuana is also legal in the District of Columbia, 22 states and 3 U.S. territories. Additionally, 9 other states have decriminalized the use of the drug.

However, the possession and use of marijuana remains illegal under federal law. This is because the drug is still classified under Schedule I of the Controlled Substances Act. That notwithstanding, a number of cannabis-based formulations such as Epidiolex have obtained FDA approval and are being legally used by qualifying patients. Other companies such as IGC Pharma Inc. (NYSE American: IGC) also have cannabis-based drug pipelines that they hope will result in FDA approval at the end of the drug-development process.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Study Says Tobacco Use is Declining in States with Legal Marijuana Markets

A recent study has found that state-level marijuana policies are largely linked to modest, sporadic, longer-term declines in tobacco use among adults. The implementation of state recreational cannabis laws (RMLs) did, according to the research, result in a small increase in adult marijuana usage of between 2% to 4%, depending on the source of data. However, tobacco use did not follow this pattern.

The results were published last month in the “Journal of Health Economics” by researchers from Bentley, Georgia State and San Diego State universities. They noted the study was the first to thoroughly investigate how legalizing marijuana for recreational use will affect tobacco usage. The researchers used data from the Population Assessment of Tobacco and Health (PATH) and the National Survey on Drug Use and Health (NSDUH).

The study found that cigarette smoking rates had significantly decreased since the first report in 1964, with male adult rates falling from 55% to 16% and female rates falling from 35% to 12%. The study notes that there is considerable disagreement over the reasons for these declines, but the majority of public health professionals advocate for maintaining the improvements.

The study’s authors agree that their examination of the NSDUH data reveals that legalization results in a (mostly) statistically negligible decrease of 0.5 to 0.7 percentage points in tobacco usage, which includes cigars, smokeless tobacco, pipe tobacco and cigarettes. RMLs have minor, laggardly tobacco effects that are concealed by this null effect, however. “We observed that adult tobacco usage decreases by roughly 1.4% to 2.7% three or more years after the establishment of an RML,” the authors said.

The study also looked at states that legalized marijuana earlier than others to make sure. The findings, it claims, offer some evidence in favor of the theory that tobacco usage decreased in several of the first-to-adopt states, particularly in Washington and Colorado, which also experienced the biggest increases in marijuana use after RML was passed.

According to the researchers, the decline in tobacco use in states where it is legal is mainly concentrated where recreational cannabis dispensaries are permitted as well as where the population of men is higher. They claim that these results are in line with the theory that some adults may substitute tobacco for recreational cannabis and vice versa.

Ultimately, the authors concluded that the study’s projections point to a drop in smoking prevalence of up to 5 million individuals, which would result in annual savings of $10 billion in healthcare costs associated with tobacco use.

These studies that highlight some of the additional societal benefits of cannabis legalization help to change perceptions about this plant. As attitudes change, business opportunities keep increasing for not only “cannabis-touching” companies but also ancillary ones 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

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.

Lexaria Bioscience Corp. (NASDAQ: LEXX) Completes $2 Million Public Offering Consisting of Common Shares and Accompanying Warrants

Lexaria recently completed its 2,106,000-unit public offering at $0.95 per share – representing proceeds totaling over $2 million gross in support of the company’s growth
Maxim Group LLC is acting as the sole placement agent in connection with Lexaria’s offering
Earlier the company was granted four new patents, bringing its total to 32 granted and many more pending worldwide for its patented DehydraTECH(TM) technology
Lexaria is currently seeking IND status from the FDA for use of DehydraTECH-processed CBD with hypertension and expects to begin dosing a new human clinical trial in October 2023

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently announced the closing of its 2,106,000-unit public offering. Each unit consists of one share of common stock, and one warrant to purchase one share of common stock. The common shares and accompanying warrants can only be purchased together in this offering but will be issued by the company separately and will be separable upon issuance.

Each unit in Lexaria’s public offering is being sold at $0.95 and will be immediately exercisable at $0.95 per share and expire five years from the date of issuance. Maxim Group LLC is acting as the sole placement agent in connection with Lexaria’s offering. Before deducting the placement agent fees and other offering expenses, gross proceeds totaled approximately $2 million (https://cnw.fm/rpRsN).

Lexaria’s patented DehydraTECH(TM) technology is designed to deliver lipophilic (fat-soluble) drugs and active pharmaceutical ingredients (“APIs”) more effectively. The major benefits of DehydraTECH-enabled drugs or consumer products include:

Speeds up delivery – the subject feels the effects of the product in just minutes
Increases bioavailability – the technology is much more effective at delivering the drug or product into the bloodstream
Increases brain absorption – animal testing suggests significant improvement in the quantity of the drug delivered across the blood-brain barrier
Improves drug potency – more of the ingested product is made available to the body, so lower doses are required to achieve the desired effect
Reduces drug administration costs – lower doses mean lower overall drug costs
Masks unwanted taste – the technology eliminates or reduces the need for sweeteners

Lexaria has demonstrated through animal studies a propensity for DehydraTECH to elevate the quantity of the drug delivered across the blood-brain barrier by as much as 1,700 percent, initiating additional new patent applications and opening possibilities for improved drug delivery. Since 2016, DehydraTECH has repeatedly demonstrated, through cannabinoids and nicotine, the ability to increase bio-absorption by up to five to ten times, reduce the onset time from one to two hours to just minutes, and mask unwanted tastes.

Lexaria is exploring additional orally administered bioactive molecules, including antivirals, cannabinoids, PDE5 inhibitors, oral nicotine and more.

The company currently has 32 granted patents, with several more pending worldwide – after recently being granted four new patents in Japan, Australia, Canada, and the United States. Lexaria believes that the U.S. patent could be of particular importance as it relates to the company’s pursuit of utilizing DehydraTECH-CBD in relation to its hypertension studies and its FDA Investigational New Drug application.

Phase 1b of Lexaria’s HYPER-H23-1 clinical trial, Phase 1b Randomized, Double-Blind, Placebo-Controlled Study of Safety, Pharmacokinetics, and Pharmacodynamics of DehydraTECH-CBD in Subjects with Stage 1 or Stage 2 Hypertension, is expected to begin dosing as early as October 2023, after the filing of the IND with the FDA which is expected in this summer. The five previous (non-FDA regulated) human trials of DehydraTECH-CBD have shown potential to have pronounced clinical benefits relative to anti-hypertensive therapeutics.

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

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

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

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

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Minnesota Legislators Build Consensus During Cannabis Legalization Committee Conference

During their first committee meeting last week, bicameral and bipartisan legislators ironed out some differences they had on cannabis legalization measures that were approved in both chambers in April. The members adopted some amendments on temporary regulations for hemp-derived CBD products and how the measures defined marijuana.

Senate bill SF 73 was sponsored by Senator Lindsey Port while the House version, HF 100, was sponsored by Representative Zack Stephenson. Stephenson stated that he and Port were focused on finishing the job, noting that Minnesota’s current drug laws were doing more harm than good.

The bills were identical in the beginning before being amended in the respective chambers during the committee process. Following approval of the bills, bipartisan lawmakers were appointed as negotiators to resolve any differences and reach an agreement.

The main components of both legislations include the following:

Individuals aged 21 years and older will be allowed to buy and possess no more than two ounces of marijuana in public. This is in addition to being permitted to grow up to eight plants at home.
Gifting up to two ounces of cannabis without remuneration between of age individuals will also be allowed.
The Bureau of Criminal Apprehension would be in charge of identifying individuals eligible for relief and automatically process their expungements.
Marijuana delivery services and on-site consumption permits would be permitted and approved under the resolutions.
Some of the taxes would be allocated toward grants to support farmers and programs to treat substance misuse.

Currently, the key differences in both bills include limits on marijuana possession and tax rates for marijuana along with local control. With regard to taxes, HF 100 imposes an 8% tax on marijuana sales while SF 73 calls for a 10% tax to be levied on cannabis sales. Regarding possession, SF 73 proposes to allow individuals to possess up to two pounds of cannabis in public and up to five pounds of self-cultivated marijuana at home. On the other hand, HF 100 seeks to permit individuals to possess up to 1.5 pounds in a private dwelling.

Given that the legislative session is set to end soon, the negotiators will need to speed up this harmonization process. Governor Tim Walz has called on supporters to join the administration and legislators in their push to legalize cannabis in this session. In January, he sent out an email blast encouraging individuals to sign a petition supporting the reform. Earlier this year, the governor also released a budget request that included proposed funding for cannabis record expungement and implementation of cannabis legalization.

As the goings-on in Minnesota indicate, medical and recreational marijuana have to go through various legislative processes in order to be legalized at state level. The process is different for companies such as IGC Pharma Inc. (NYSE American: IGC), which focus on making cannabis-based medicines. In this case, the FDA has a clear process through which those formulations have to be taken before they can be approved and licensed for use in the healthcare system.

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

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.