CannabisNewsBreaks – ECGI Holdings Inc. (ECGI) Enters LOI to Acquire EC, Including 8bit BUDS Brand

ECGI Holdings (OTC: ECGI), D/B/A Elite Cannabis Group Incorporated, a Nevada-based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, today announced its entry into a letter of intent (“LOI”) toward the acquisition of the key personnel, intellectual properties, business operations, and the future business operations of Endless Consciousness Inc. (“EC”), a California corporation involved in the legal cannabis product marketplace. With the acquisition, the company will acquire all current and future planned brands developed by EC, including recently launched 8bit BUDS. “The real gem in this deal is the experienced and accomplished EC team. This team has sales experience that includes servicing over 250 stores and they have formulated and managed products reaching over 1,000 stores covering multiple states,” said ECGI CEO Danny Wong. “Based on their track record, we have full faith that this acquisition is capable of driving not only impactful shareholder value but overall profitability. To maximize results, we are targeting full integration of key personnel, IP and operations in Q3, positioning us straight at the end market. While we will sell to wholesale distributers, our current strategic plan is to go directly to dispensaries.”

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

About ECGI Holdings Inc.

ECGI Holdings, which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with California-based targets including undercapitalized and distressed licensed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with nationwide expansion possibilities.

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 — North Carolina Senate Approves Bill Legalizing Medical Cannabis

The North Carolina Senate has approved a bill to legalize medical marijuana in the state and sent it to the House. The legislation was first filed by Senate Rules and Operations Committee Chairman Bill Rabon last year and was cleared by the Senate before being blocked by House Republicans.

Rabon refiled the bill in late January amid statements from a key chamber leader that the bill was “well-constructed” and addresses a lot of key concerns.

The medical marijuana bill was approved by three separate committees and received initial approval on the Senate floor a day before advancing in a 36–10 vote.

The bill would allow patients suffering from a “debilitating medical condition” to use cannabis for medical purposes. Conditions that would qualify North Carolina residents for medical marijuana include post-traumatic stress disorder, epilepsy, multiple sclerosis, cancer, Parkinson’s disease and HIV/Aids.

The legislation would also allow a maximum of 10 vertically integrated medical marijuana suppliers operating up to eight dispensaries. It would also establish a Compassionate Use Advisory Board to add new medical conditions to the list of qualifying conditions and create a separate Medical Cannabis Production Commission to handle medical cannabis supply and licensing, and generate revenue to run the state’s medical cannabis program.

A North Carolina Cannabis Research Program would be charged with undertaking scientific research on the medical administration of marijuana and marijuana-infused products.

The legislation’s language states that it is only meant to make changes to North Carolina laws that ensure patients and their physicians are protected from civil and criminal properties.

Speaking before the Senate floor vote, Rabon said that law enforcement would have access to databases and records that allow them to verify if patients are eligible for medical marijuana and if suppliers are in compliance with state law.

Although the bill did not advance past House GOP lawmakers last year, Rabon believes it has more support in the House this year.

House Speaker Tim Moore said that he believes that more than 50% of the lawmakers in his chamber support medical marijuana reform and that he won’t be surprised if the bill advances past the House.

The legislation features some of the strictest provisions in the entire country, with Rabon saying numerous times that he wrote the bill to make it one of the strictest in the United States. It would regulate medical cannabis tightly and only allow those with debilitating medical conditions to access the plant, Rabon said, adding that recreational cannabis use would remain illegal under his bill.

Many players in the cannabis industry as well as those in ancillary niches such as Advanced Container Technologies Inc. (OTC: ACTX) are likely to follow the events in the North Carolina legislature closely to see how the bill fares.

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 — Carriers Requested to Share Views on Cannabis Policy vs. Trucking

In light of the rising number of states that have legalized marijuana, the American Transportation Research Institute is seeking feedback from carriers on whether federal drug testing regulations for CDL holders should be altered. Currently, recreational cannabis is legal in more than 20 states, with Missouri and Maryland being the latest to legalize it.

The survey, which was introduced on Feb. 15, 2023, seeks to learn more about the impact legalized marijuana has had on the workforce in the trucking sector. Motor carrier executives and employees who are familiar with the procedures for hiring, retaining and testing drivers for drugs are invited to respond to the survey. Individuals can complete the survey online and submit their responses until March 17, 2023.

There are 24 questions in the survey; the questions cover topics such as hiring procedures for carriers, the handling of different drug offenses, and whether respondents have seen an increase in positive drug tests or candidates quitting when they are required to take a drug test.

The survey allows carriers to expound on certain topics, including:

concerns about the impact of legalization on insurance rates and drivers
preference between drug tests that measure a recruit’s or driver’s cannabis impairment or use within the past 24 hours as opposed to the current test, which can pick up use a few weeks prior
number of cannabis-related positive tests submitted by a carrier to the FMCSA between 2019 and 2022
drivers who have rejoined a company after successfully completing the necessary return-to-duty procedure.

ATRI’s Research Advisory Committee deemed research on the effects of legal cannabis a top priority for 2022. The group states that the new data will supplement its 2019 study on the impact of cannabis legalization on road safety.

According to driver data collected by the FMCSA from January 2020 to April 2022, 98% of testing results involved drugs rather than alcohol. At that time, marijuana outperformed all other drugs in terms of positive outcomes. In 2022, almost 41,000 truck drivers tested positive for marijuana use, a 32% increase from the year before.

Even though it’s unclear what caused the abrupt change, it’s important to note that the FMCSA withholds information regarding the number of driver tests. The increase in positives could thus be explained by an increase in the number of tested drivers.

Whatever the reason, ATRI claims the new information will assist carriers in overcoming the challenges that legalized cannabis may bring about.

Such challenges of legalized cannabis are unlikely to manifest when people who use marijuana medicinally begin accessing the pharmaceutical-grade cannabis-based formulations entities such as India Globalization Capital Inc. (NYSE American: IGC) are taking through the rigorous development process overseen by the FDA and other regulators.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH(TM) Improves Product Performance Across Multiple Categories

Lexaria (NASDAQ: LEXX) is a global innovator in drug delivery platforms. “The company’s patented DehydraTECH(TM) technology enhances the performance of multiple categories of fat-soluble active molecules and drugs available in various formats, including oral ingestible, oral buccal/sublingual and topical products. According to Lexaria, its technology ‘is best thought of as an additional layer that improves the effectiveness of existing or planned new products for companies that offer consumer supplements, prescription and non-prescription-based drugs and nicotine products,’” a recent article reads. “When analyzed in terms of numbers, the improvements are impressive. Having conducted both in vitro and in vivo studies, Lexaria has established that DehydraTECH increases intestinal bioabsorption of certain bioactive compounds by as much as 27 times. Furthermore, given the technology increases the quantity of each active ingredient delivered to the blood plasma and brain, it reduces the need for high doses, ultimately contributing to lower overall drug costs, as lower doses can still achieve the same or even better results. In addition, the technology works rapidly, with the DehydraTECH formulations’ effects becoming prominent in as little as 1.5 minutes post-administration. Other benefits include masked taste and smell of the active molecules, which has the intended effect of helping manufacturers create low-sugar products with fewer calories and avoid using artificial sweeteners.”

To view the full article, visit https://cnw.fm/m5hjA

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 28 patents granted and roughly 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

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420 with CNW — Virginia’s Recreational Marijuana Launch Stalls Indefinitely

Less than two years after Virginia set out to be the first southern state to legalize the sale of adult-use cannabis, the state’s anticipated start date of Jan. 1, 2024, has been essentially canceled. Governor Ralph Northam approved the legislation in April 2022, making it legal for Virginia residents to own and grow up to four cannabis plants. Additionally, it mandated that recreational sales start by Jan. 1, 2024.

However, the law also mandated that the assembly later reenact several of the legislation’s provisions, including specifications on regulation and market structures such as licensing. The chances of those laws passing were reduced after the state’s election in November 2021 when Republicans took control of the governor’s office and the House of Delegates (HOD).

Two marijuana regulatory bills sponsored by Republicans that would have established a licensing system in time for sales to start in 2024 were dropped on in January by a House of Delegates’ GOP-controlled subcommittee. At the start of February, Senator Adam Ebbin introduced a comparable bill in the Senate, but it was rejected by the same committee. Multiple sources claim that Governor Glenn Youngkin’s efforts to stop all adult-use marijuana legislation were a major factor in the bills’ failure to pass.

Republicans also prompted a proposal to cut nearly 70% of the Cannabis Control Authority’s budget.

There isn’t any time left on the legislative calendar for an alternative to be introduced since the state’s part-time assembly only assembles in regular session for 30 days in uneven-numbered years. Saturday, Feb. 25, 2023, was the last day for this year’s meetings.

The main multistate operators who hold some of the state’s current medical marijuana permits, as well as potential new operators, are forced to hold back now that adult-use marijuana regulation is canceled for the year.

Alternatives from the black market, such as illegal pop-ups and storefronts, have popped up all over the state in the absence of legal adult-use retailers.

This, combined with the abundance of untested goods containing delta-8 tetrahydrocannabinol (THC) derived from hemp, results in a situation that both Virginia Democrats and Republicans have referred to as a health crisis.

Industry observers and activists claim that legislators, including those in the subcommittee where several bills were put down in the past few days, received clear instructions from the governor not to promote adult-use marijuana bills this year. Youngkin is eyeing the Republican presidential nomination next year. He is advocating for legislation that would strictly control cannabinoids derived from hemp.

As the lawmakers put the prospect of opening a recreational cannabis market in the state, they are unwittingly killing lots of opportunities that would have come to residents. For example, some may have turned to companies such as Advanced Container Technologies Inc. (OTC: ACTX), a provider of indoor “microgardens” for people interested in growing their own cannabis at home.

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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420 with CNW — Research Suggests CBD May Curb Nicotine Cravings

Cannabidiol (CBD) may be able to help cigarette smokers quit the habit by curbing nicotine cravings. Scientists at Washington State University recently published a study indicating that the cannabinoid reduced nicotine cravings by inhibiting an enzyme that is associated with nicotine processing.

CBD is part of a class of compounds called cannabinoids that are produced by plants in the cannabis family. But unlike THC, the cannabinoid that gives cannabis its psychoactive effects, cannabidiol has no psychoactive properties. Research has instead revealed that CBD has potent medicinal properties that can be effective against a wide variety of medical conditions.

This recent study looked at how CBD affected the metabolism of nicotine, the compound that makes tobacco cigarettes addictive. Researchers found that CBD was able to help tobacco users quit by inhibiting the action of a key enzyme. When senior study author Philip Lazarus and his colleagues analyzed liver tissue and microsomes from specialized cell lines, they discovered that CBD inhibited CYP2A6, a key enzyme in the metabolism of nicotine, as well as several other relevant enzymes.

Prior research has shown that CYP2A6 is responsible for more than 70% of nicotine metabolism in most tobacco users. The cannabinoid inhibited CYP2A6’s processing of nicotine by a whopping 50% even at relatively low concentrations, suggesting a rather strong impact on the enzyme.

Lazarus surmised that you wouldn’t need to take much CBD to see the enzyme-inhibiting effect. By slowing down the metabolism of nicotine, CBD could extend the time a smoker needs before they feel the need to inhale nicotine again; consequently, smokers could end up smoking less often.

Noting that most of the negative effects of smoking come from the chemicals and carcinogens in tobacco smoke, Lazarus explained that minimizing the harm from smoking would undoubtedly be a “great thing for human health.”

With one in five people reportedly dying every year in the United States due to smoking-related illnesses, smoking still presents a significant health problem. Alternative methods of consuming nicotine to avoid smoking, such as snuff, chew and vaping, are just as dangerous and can cause serious illnesses such as cancer.

Lazarus and his team are now working to develop a clinical study aimed at determining the effect of cannabidiol on nicotine levels in tobacco users. The research team hopes to run a larger study on the relationship between nicotine addiction and CBD after that.

The federally funded study was published in the “Chemical Research in Toxicology” journal. It was carried out with the support of the National Institutes of Environmental Health Sciences.

Given how beneficial different cannabinoids are being found to be, it is a pity that companies in the marijuana industry don’t have ready access to traditional banking institutions in order to scale their operations; instead, these companies must scramble for the funding, which is provided by innovative niche companies such as REZYFi Inc.

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

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) to Showcase the Future of Farming at New Oklahoma-Based Facility

Advanced Container Technologies (OTC: ACTX) today announced its relocation to a new 4.5-acre campus in Skiatook, Oklahoma. The new site features a large indoor farming facility, dedicated manufacturing and distribution operations, and classrooms for teaching businesses and individuals how to maximize profits using controlled environment farming. “We are thrilled to be operating in this fabulous new facility,” said Doug Heldoorn, CEO of ACTX. “With this strategic move, we are well positioned to serve the entire Midwest, and can offer businesses, growers and individuals the means and the knowledge on how to grow pristine crops, year round, in a plug-and-play type system that’s perfect both for beginners and for businesses looking to expand without the need of new buildings or expensive real estate.”

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

About Advanced Container Technologies Inc.

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

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

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India Globalization Capital Inc. (NYSE American: IGC) Focused on Fighting Alzheimer’s Disease with First-of-Kind Treatments in Study Phase

Government showing strong support for bills aimed at treating Alzheimer’s disease
IGC’s leading drug candidate recently completed phase 1 of a safety and tolerability trial, and entered phase 2
Company’s proprietary treatments have “the potential to revolutionize the treatment of Alzheimer’s disease”

Key legislation designed to fight Alzheimer’s has been introduced in Congress — or actually reintroduced: the NAPA Reauthorization Act was first introduced in the last Congress but is seeing continued support from the current group of elected officials (https://cnw.fm/xqOnK). Support for the treatment of Alzheimer’s is essential for organizations such as India Globalization Capital (NYSE American: IGC), a company pursuing effective treatment for Alzheimer patients suffering with agitation and other neuropsychiatric symptoms.

“The Alzheimer’s Association and the Alzheimer’s Impact Movement (“AIM”) are proud to support the bipartisan introduction of the NAPA Reauthorization Act and the Alzheimer’s Accountability and Investment Act,” reported a recent Alzheimer’s Association article. “Reintroduced [on Jan. 31, 2023] in Congress, the NAPA Reauthorization Act would extend the National Alzheimer’s Project Act, and the Alzheimer’s Accountability and Investment Act will ensure Congress continues to hear directly from scientists on what resources are needed to prevent and effectively treat Alzheimer’s disease.”

According to the article, the act was first introduced in the 117th Congress, which convened in January 2021. At the time, AIM advocates worked to build bipartisan support for both the NAPA act, eventually landing 65 cosponsors in the House and 27 in the Senate, and the Alzheimer’s Accountability and Investment Act, with 45 cosponsors in the House and 24 in the Senate. AIM representatives noted that they are working to expand that bipartisan progress with the 118th Congress.

“On behalf of the Alzheimer’s community, we thank the Senate and House sponsors for reintroducing these important bipartisan bills to continue the progress we have made in the fight against Alzheimer’s and all other dementia,” said Robert Egge, Alzheimer’s Association chief public policy officer and AIM executive director. “These bills reaffirm our nation’s commitment by helping to secure federal investments in Alzheimer’s research and improve access to better quality care and support services for individuals living with Alzheimer’s and their caregivers. We look forward to working together to pass these bipartisan bills and help improve the lives of those impacted by Alzheimer’s and other dementia throughout the nation.”

AIM isn’t the only organization focused on helping those dealing with Alzheimer’s. IGC’s leading drug candidate, IGC-AD1, recently completed phase 1 of a safety and tolerability trial and entered phase 2 trials. The study, which is the first in humans of a natural low-doses tetrahydrocannabinol (“THC”) compound plus another molecule, is designed to evaluate IGC-AD1 as a treatment for agitation in patients with Alzheimer’s dementia. In addition, IGC has a second drug candidate: TGR-63. An enzyme inhibitor, TGR-63 has shown the potential to reduce neurotoxicity in Alzheimer’s cell lines.

Both drug candidates have shown their ability to ameliorate beta amyloid plaques in Alzheimer’s cell lines and improve memory in Alzheimer’s mouse models. Beta amyloid plaques are a key hallmark of Alzheimer’s and an important target of Alzheimer’s pharmaceutical drug development.

“We believe that IGC-AD1 has the potential to revolutionize the treatment of Alzheimer’s disease as the first and only low-dose natural THC-based formulation candidate currently undergoing FDA trials,” said IGC CEO Ram Mukunda (https://cnw.fm/Sjy1R). “Approximately 8 million people are affected by Alzheimer’s in North America and over 55 million worldwide. We believe the diverse population we have selected for this study will allow us to accurately look at both the impact of variations of the gene CYP2C9 that metabolizes THC, as well as APOE e4 a gene that increases the risk of developing Alzheimer’s.

“This data will help us to further understand the metabolism of IGC-AD1 for a diverse population, which is important in treating a disease that has a global impact like Alzheimer’s,” he continued. “Through these and further trials, we look forward to establishing IGC-AD1’s efficacy in treating the symptoms related to Alzheimer’s disease.”

IGC develops advanced cannabinoid-based formulations for treating diseases, including but not limited to Alzheimer’s disease, Parkinson’s disease, chronic pain and even pet seizures. The company sells various brands of CBD-based consumer products, including Holief, which includes gummies and pain relief creams for women experiencing premenstrual syndrome and dysmenorrhea (period cramps), and Sunday Seltzer, which includes a CBD-infused energy beverage. The company operates facilities in the United States under Good Manufacturing Practices.

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

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

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Lexaria Bioscience Corp. (NASDAQ: LEXX), a Global Innovator in Drug Delivery Platforms, Holds Discussions With Several Larger Companies on Path to Commercialization of DehydraTECH(TM) Technology

Lexaria’s patented DehydraTECH(TM) technology increases bioavailability, improving the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery, helping with speed of onset, and brain absorption of active pharmaceutical ingredients
The company out-licenses the use of its patented DehydraTECH(TM) technology within the pharmaceutical industry and consumer sectors
Lexaria has focused on applied R&D to establish areas of investigation for commercial pursuits, with its programs proving successful
Additionally, Lexaria has a robust intellectual property portfolio with 28 patents granted worldwide as of February 2023

In 2022, Lexaria Bioscience (NASDAQ: LEXX), a global innovator developing and commercializing its patented DehydraTECH(TM) drug delivery technology, achieved several important goals for the year, according to CEO Chris Bunka.

“One of our biggest achievements of 2022 was our greater emphasis on commercial pursuits,” Bunka wrote in his January 2023 letter to shareholders (https://cnw.fm/gm32a). This saw the company acquire new customers, among them Premier Wellness Science Co. Ltd. of Japan, its first client in Asia, BevNology LLC (https://cnw.fm/Dde14), and AnodGen Bioceuticals (https://cnw.fm/biO1A).

This year, the company is continuing and/or initiating discussions with several larger companies in Europe and North America regarding the licensed use of its DehydraTECH technology for both consumer and pharmaceutical sectors. And while Lexaria is not at liberty to go into details, its approach to commercialization has been strategic.

Strategic partnerships involving small to mid-sized biotech as well as large pharmaceutical companies are not new. As reported in a recent article in LabioTech, such partnerships are a better way to build a product’s capabilities and value than outright acquisitions (https://cnw.fm/ePvLU). Additionally, these collaborations provide access to Big Pharma’s infrastructure, resources, and expertise, depending on the terms of the agreements, which can substantially reduce risk.

However, the materialization of such partnerships hinges on a number of must-haves. Firstly, there must be a tangible product that draws larger companies. Secondly, the article observes, “The decision of whether or not to invest, and the scale of any investment, is based on how well the technologies that form the core of a company have been protected. This is where patents come in.” Moreover, the clinical development timeframe also matters, with the article noting that “The further a company can take its own research, the better the deal that will be offered in terms of upfront payments, milestone payments, and royalties.”

Lexaria ticks all these boxes. Its unique technology – DehydraTECH – is not only tangible but has also been shown to enhance the performance of several categories of fat-soluble active molecules and drugs across various oral and topical product formats. The technology is also protected by a robust portfolio of 28 patents granted worldwide as of February 2023. The patents cover method-of-use, composition-of-matter and medical treatment claims for a wide range of active pharmaceutical ingredients (“APIs”), including, but not limited to, cannabidiol (“CBD”), antiviral drugs, vitamins, nicotine, and NSAIDs. Additionally, Lexaria has many more patents pending around the world.

Lastly and perhaps most importantly, Lexaria has substantially invested in research and development (“R&D”), an aspect of its operations that is 100% within its control. According to Bunka, the company has designed its applied R&D to boost its commercial prospects, and this “is paying off in spades,” as it has, among others, “yielded almost entirely positive results.”

In 2022, the company’s top priority was to develop its DehydraTECH-processed CBD hypertension program. The program’s fifth and most comprehensive human clinical study, the HYPER-H21-4, has proven a success. Firstly, the study showed that DehydraTECH-CBD was exceptionally safe, had a high tolerability profile, resulted in a statistically significant decrease of 24-hour ambulatory blood pressure (“BP”), and lowered BP throughout the entire 5-week duration of the study (https://cnw.fm/uhdwV).

Subsequent results showed that DehydraTECH-CBD achieves better human blood absorption levels at lower doses than non-Lexaria CBD formulations (https://cnw.fm/hjegk). The study also helped Lexaria discover a novel mechanism of action of the DehydraTECH-CBD capsule formulation in reducing BP (https://cnw.fm/3MX9W). Other applied R&D programs include an oral nicotine program, wherein dosing began late last year, and separate studies evaluating the effect of DehydraTECH-CBD on seizure disorders, diabetes, and dementia.

Lexaria continues to develop appeal to potential collaborators, and its R&D serves as evidence of the resolve to attract investments and partnerships from larger companies.

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

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420 with CNW — Iowa Legislators File Adult-Use Cannabis Legalization Bill

On Feb. 21, 2023, Iowa Democratic legislators introduced a bill that would permit adult-use cannabis for recreational purposes. The proposed legislation would make it legal for adults 21 years and older with valid identification to possess cannabis with up to 500 milligrams of THC, the main psychoactive ingredient in cannabis. The legislation, which has yet to be formally brought to the House, also establishes a tax on authorized cannabis sales and lays the groundwork for regulated commercial marijuana sales.

According to House Democratic Leader Jennifer Konfrst, Iowans of all political persuasions have voiced their strong support for legalizing marijuana, and thus the legislation was not focused on politics but on the needs of the people. Additionally, she stated that the legislation was an opportunity for lawmakers to put differences of opinion aside and work cooperatively to accomplish a goal that the majority of Iowans share.

The measure also changes the classification of marijuana possession of up to a half ounce from a criminal offense to a civil offense, eliminating the criminal penalties. Additionally, the bill expunges convictions for nonviolent cannabis possession convictions and minimizes other possession convictions from felonies to infractions.

It gives the state’s Alcoholic Beverage Division (IABD) control over the marijuana market and permits regulated companies to distribute and produce cannabis through authorized dispensaries. To monitor regulated marijuana products and aid in preventing their diversion to the black market, the division is also mandated by the bill to implement a production-to-sale system for tracking.

The proposal to legalize marijuana imposes a 10% tax on commercial marijuana products, with the proceeds going to public safety organizations, schools and mental health institutions. County governments would also be allowed to add a 1% surcharge to local and state taxes.

According to Konfrst, legalizing cannabis in Iowa would prevent the tax revenue from being sent to neighboring states that have legalized the drug. Michigan and Illinois, which border Iowa, both permit the use of recreational cannabis.

According to a 2021 Des Moines Iowa poll, 54% of Iowans support legalizing marijuana for recreational use. Despite the overwhelming support, the legislation is unlikely to be passed by the GOP-controlled legislature. Republican Party leaders stated last month that they do not anticipate cannabis legalization legislation to pass this year. Steve Holt, the House Judiciary Committee chair, stated last year that while there is a need for disincentives in the law, he would not support the legalization of marijuana.

Meanwhile, some entities, such as India Globalization Capital Inc. (NYSE American: IGC), aren’t waiting for cannabis prohibition to be ended countrywide. Instead, they have opted to take their products through the preclinical and clinical development process so that the FDA and other regulators can give those formulations the nod for use by patients with the ailments they target.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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

CNW420 is part of the InvestorBrandNetwork.