Category: CannabisNewsWire Release

Alternative Products Expo Announces Its Upcoming Fort Lauderdale 2023 Show

Alternative Products Expo has just announced its next show, which will take place on March 3-5, 2023, in the beautiful city of Fort Lauderdale, Florida. This one-of-a-kind trade show promises to provide attendees with a unique experience that breaks away from the monotony of traditional events. It’s a must-attend for anyone in the smoke shop and counterculture industry.

Known for short as Alt Pro Expo, this event has its roots in the Vape and CBD world and has since expanded to include a plethora of industries. With over 200 exhibitors representing various product categories, such as Vape, CBD, Hemp, Delta-8, Nicotine Alternatives, Kratom, Extracts, Functional Beverages, tinctures, edibles, herbal products, mood enhancers, energy boosters, dietary supplements, and much more, there’s something for everyone to discover.

According to Jason Monti, the event’s co-founder, “ALT PRO Expo is more than just a trade show. It’s a platform for all counterculture professionals looking to expand or tap into this growing market.” And with thousands of registered buyers, prominent brands, and influential media partners participating, it’s an incredible opportunity for anyone looking to make new connections or showcase their products and services.

But the excitement doesn’t stop there. Florida is home to some of the most notable Alternative Product companies, and Fort Lauderdale, in particular, is a thriving hub for the counterculture industry. Attendees can take advantage of the many recreational activities in the area, such as boating, fishing, and sunbathing, making Alt Pro Expo the ideal destination for a productive and enjoyable trade show experience.

So mark your calendars and get ready to discover the latest and greatest in alternative products at the Alt Pro Expo. It’s an event you won’t want to miss!

For more information, please visit https://altproexpo.com/

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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420 with CNW — Leading Addictions Treatment Group Supports Federal Drug Decriminalization

The American Society of Addiction Medicine, a top addiction treatment organization, is advocating for the legalization of all drugs that are currently illegal in the name of racial equity and public health. The organization, which has always sided with antidrug advocates and opposed even the mildest cannabis reforms, has significantly changed its stance on drug-related policies in the past few years.

While the organization has advocated for decriminalizing marijuana since 2015, it is now urging the decriminalization of all drugs, including the elimination of criminal penalties for paraphernalia, citing the stigma and institutionalized racism that are deeply embedded in the nation’s drug policy.

The group released three policy statements on Feb. 9, 2023, in which it advocated for the elimination of harsh civil and criminal penalties for the possession of drugs and drug accouterments for adult-use as part of a broader set of interlinked legal and public health reforms intended to enhance several carefully chosen outcomes. In addition to legalizing drugs, ASAM argued that lawmakers take into account the possibility of expunging records of prior offenses of this nature so that citizens are not still ostracized for them. The organization cited Portugal’s decriminalization laws and claimed that the reform may result in health improvements based on the available data.

In light of the fact that even minor shifts in the legal distribution of some drugs can greatly increase the risk of addiction, especially for marginalized people, and the current research gaps in drug policy, the group stated that its recommendations purposefully don’t encompass developing a framework for accessing currently illicit drugs for personal use.

Other recommendations made by the organization include making it easier to obtain clemency for those found guilty of drug offenses without violence at the federal and state levels, doing away with the cocaine conviction differential, and funding studies that seek to assess different public health methodologies to the use of drugs with a focus on various drug laws and policies. The association also urged lawmakers to end housing restrictions based on nonviolent, substance-related activities and to abolish requirements for public assistance recipients to submit to drug testing.

The ASAM recommendations represent a substantial change from the organization’s prior stance on drug policies since its establishment in 1954.

In 2012, the group released a report urging doctors to oppose reform calls, but as adult-use cannabis became legal in more states, the group’s policy positions seemed to shift toward a focus on public health. Since then, the association has taken a more active role in promoting marijuana reform, even supporting legislation’s provisions that would federally codify states’ rights to determine their cannabis laws in 2020. However, it has refrained from outright endorsing the legalization of commercial marijuana markets.

ASAM’s push for ending cannabis criminalization is no surprise given that for-profit enterprises such as India Globalization Capital Inc. (NYSE American: IGC) are making plenty of headway in taking cannabis-based formulations through the clinical-development process in a bid to obtain regulatory approval for those novel therapeutics, proving that marijuana does have medicinal potential.

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

About CNW420

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

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420 with CNW — Marijuana Reform Now ‘More Challenging’ in GOP-Controlled House

Despite polls showing that most Americans favor legalizing cannabis and the fact that it has spread to red states such as Missouri where adult-use sales began last week, some lawmakers and lobbyists still think that major, revolutionary change such as federal legalization is still a long way off.

Even though there are some encouraging signs in Congress, such as support from South Carolina Representative Nancy Mace, there is still plenty of opposition, and the House appears to have “a lot on its plate” right now. Mace is a prominent conservative advocate for marijuana legalization.

One significant barrier is the perception that marijuana is not a priority for House Speaker Kevin McCarthy, who represents a conservative region of California where retail dispensaries for legal commercial cannabis are prohibited. There is also an understanding that crucial committees where marijuana-related legislation needs to be heard will instead act as roadblocks. One example is the House Judiciary Committee, which is currently led by Jim Jordan, an Ohio Republican.

Jordan has already stated that his top priorities are the infamous laptop owned by Hunter Biden, the president’s son, as well as the actions of the American intelligence community and immigration at the southern U.S. border.

Rep. Chip Roy, a Texas Republican who received a D- grade from NORML, replaced Ed Perlmutter, a retired Colorado Democrat who was the main proponent of the SAFE Banking Act, on that same committee.

The upcoming 2024 presidential election will further compound the obstacles to marijuana legalization. While some observers point out that there is some common ground on the issue of marijuana between conservatives in the Freedom Caucus such as Rep. Matt Gaetz and moderates such as Mace, others point out that Jordan could approve legislation without a full hearing.

In her proposal for federal legalization, Mace said on Friday that she would reintroduce the States Reform Act, which would exempt marijuana from the Controlled Substances Act and leave most of the remaining issues to be resolved by state law. Her bill will be added to a scheduling proposal created by Florida Republican Rep. Greg Steube.

Observers also anticipate the reintroduction of the SAFE Banking Act, which is likely to be sponsored by Ohio Republican Rep. Dave Joyce, as well as the reappearance of other bills that failed to make much progress during the previous Congress.

According to early predictions, even SAFE Banking will run into the same issues that hindered progress in December.

Democrats currently hold a slim 51–49 advantage in the Senate, with Pennsylvania Democrat John Fetterman—a steadfast advocate for marijuana legalization—occupying the extra seat. Therefore, Democrats’ priorities and those of Senate Majority Leader Chuck Schumer have a freer hand in significant committees.

However, it also means that any bill must receive the support of all members of the Democratic caucus and at least nine Republicans to overcome cloture in per the chamber’s filibuster rule.

The way things stand, enterprises looking to medicalize marijuana compounds such as India Globalization Capital Inc. (NYSE American: IGC) have a more certain outlook compared to those that are banking on federal policy reform.

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

About CNW420

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

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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Releases Findings from Hypertension Study

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, is reporting additional findings from its human clinical study HYPER-H21-4; the study is designed to demonstrate a potentially novel mechanism of action of LEXX’s patented DehydraTECH-processed cannabidiol (“CBD”) capsule formulation in the treatment of blood pressure (“BP”). According to the announcement, Lexaria believes that those findings, which were published in the peer-reviewed “Biomedicine and Pharmacotherapy” journal, could support DehydraTECH-CBD qualification within existing Food and Drug Administration (“FDA”) guidelines. Previous results of the study indicated that primary efficacy and safety objectives were successfully achieved, including hypertensive patients seeing resting blood pressure significantly reduced and sustained over the full five weeks of dosing; results also showed that no serious adverse events have been reported during the study.

To view the full press release, visit https://cnw.fm/x0vDT

About Lexaria Bioscience Corp.

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

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

About CannabisNewsWire

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

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REZYFi, Inc. Stands Ready to Provide Much-Needed Capital to Cannabis Companies as Softening Mortgage Rates Boost Opportunities for Refinancing

  • REZYFi is a real estate-oriented mortgage company servicing the needs of licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies
  • The average rate on a 30-year-fixed-rate mortgage, measured weekly, has been declining gradually since October last year, increasing the market for new and refinanced mortgages
  • Mortgage refinancing can be a source of capital, presenting an important financing opportunity for business operators in the cannabis space who struggle to access money from traditional banks

In the months since the US average rate on a 30-year-fixed-rate mortgage peaked at more than 7.10% in October last year, the value has been gradually declining. According to Freddie Mac’s weekly mortgage rate survey, the average rate stood at 6.12% as of February 9, 2023, a slight increase from the 6.09% average recorded a week earlier on February 2, 2023 (https://cnw.fm/emPrr). This general softening has had a ripple effect.

Data from the Mortgage Bankers Association (“MBA”) shows that the decrease in average mortgage rates resulted in a week-over-week increase in mortgage applications for the week ending February 3 (https://cnw.fm/LVJLz). According to the trade group, the Market Composite Index, a measure of the mortgage loan application volume, grew 7.4% on a seasonally adjusted basis and 8% on an unadjusted basis. In addition, the Refinance Index increased 18% from the previous week, while the seasonally adjusted Purchase Index rose 3% from a week earlier (https://cnw.fm/9JlSe).

To put it more concisely, both the purchase and refinance applications increased over this period. In addition, per the MBA, both showed gains in three of the four foregoing weeks because of lower rates. And with experts projecting that the downtrend will continue, the ripple may eventually turn into a large wave. Mike Fratantoni, MBA’s Chief Economist, is quoted in an ABC article as saying that the mortgage rates are expected to end the year closer to 5% rather than the current 6% (https://cnw.fm/9pmet).

Refinancing at lower mortgage rates presents several obvious benefits to any real estate owners. It helps them lower their monthly payments. For instance, a consumer purchasing a $400,000 home at a 30-year fixed mortgage rate of 6.12% will pay roughly $290 less in monthly mortgage payments than they would have if they had purchased the home in October last year. Additionally, by taking a larger mortgage, owners can access the difference in cash (cash-out refinancing) and direct it to any purpose (https://cnw.fm/ctQNe). For businesses, the cash-out referencing option can be a source of much-needed capital. And nowhere is this more befitting than in the cannabis space.

Operators within the cannabis industry have long struggled with access to capital in the form of mortgages and loans. This is because most traditional banks and financial institutions, which are insured by the Federal Deposit Insurance Corporation (“FDIC”), are prohibited from offering financial services or loans to cannabis companies. So, the declining average mortgage rates are a boon for business owners in this space, and companies like REZYFi are on standby to help such proprietors.

REZYFi is a growth mortgage origination and specialized financing company in the United States. It provides a variety of real estate-related first and additional mortgage-based financing and project-specific financings, primarily targeting licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies. By leveraging a network of independent brokers and licensed loan officers as well as proprietary loan processing technology, REZYFi is keen on efficiently serving as many clients as possible.

Licensed in 36 states, REZYFi operates through its subsidiaries REZYFi Lending, which addresses emerging real estate-related financing opportunities, and ResMac, Inc, a traditional mortgage origination, correspondent, and servicing business.

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

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

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Continues to Foster New Partnerships with its Expanding DehydraTECH(TM) Licensing Opportunities

  • Lexaria’s patented DehydraTECH(TM) technology improves how APIs enter the bloodstream through the promotion of healthier oral ingestion methods while also increasing the effectiveness of fat-soluble active molecules
  • As a disruptive technology, its impact has been felt by other players in its space, leading Lexaria to open its doors to partnering with industry experts and implementing the technology across many fields, including licensing the technology to Fortune 100 companies
  • Lexaria will continue to make its technology accessible, improving the lives of people around the world

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has, since 2016, repeatedly demonstrated the potential of its patented technology, DehydraTECH(TM). The technology improves how active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting healthier oral ingestion methods while increasing the effectiveness of fat-soluble active molecules. With the help of this technology, Lexaria has explored potential treatment options for a variety of conditions, including hypertension, epilepsy, and even nicotine replacement.

The overall potential of DehydraTECH to be used to improve existing products or create new ones has seen its application in a growing range of consumer product formats, from topical applications to oral suspensions, registered drugs, nutraceuticals, consumer packaged goods, capsules, pills, and tablets. Furthermore, as a disruptive patented technology, its impact has been felt by other players in its space, leading to Lexaria opening its doors to partnering with Fortune 100 companies to implement the technology across many fields (https://cnw.fm/niPD8).

Lexaria, through its licensing program, is making its technology accessible to more people, potentially improving the lives of hundreds of thousands, if not millions of people around the world. With the company having set its eyes on the commercial execution of its DehydraTECH technology for the new year, its licensing program will play a key role in achieving this end. Its management remains optimistic that, as its licensing program grows, more companies will come on board, bringing its technology closer to the masses.

Currently, Lexaria engages in strategic partnerships with third-party companies interested in exploring formulation opportunities with their specific APIs of interest. It also out-licenses its technology in exchange for up-front fees, milestone payments, and/or royalty payments, while offering dietary supplement GMP-grade intermediate formulations to corporate clients on a toll-processing basis.

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

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

About CannabisNewsWire

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

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420 with CNW — Cannabis Brand Strength Could Be More Pivotal Than Sales

In only a few short years, the cannabis industry has proven to be one of the fastest-growing and most profitable sectors in the country. Over two decades after California legalized medical cannabis, the marijuana industry has grown to a behemoth sector worth billions of dollars.

The industry has sold billions’ worth of cannabis products, filled state coffers with billions of dollars in taxes and created hundreds of thousands of new employment opportunities.

This landscape of constant growth and runaway profits attracted entrepreneurs from all over the country who were itching to gain a portion of the extremely lucrative cannabis market for themselves. However, this quickly resulted in an oversaturation of supply as more sellers jumped into the mix, crowding the market. It can be quite difficult to stand out in such an oversaturated market, especially if your business is located in a region such as Michigan, which has no statewide cap on the number of marijuana business licenses.

Data suggests that businesses that focus on brand health rather than sales have a better chance of long-term success. While some cannabis markets believe that branding still doesn’t matter in the cannabis sector, others are pouring all of their energies into creating brand awareness for their products.

In recent years, cannabis markets have taken to advertisements (as much as their home states allow), sponsor events, and even enlist celebrity brand managers to increase awareness of their products.

Others have adopted fun and quirky product designs to stand out on the shelves, targeted specific consumer segments as part of their branding, launched loyalty programs to encourage repeat customers, and created in-store campaigns to pull in new consumers or budtenders.

But even though these marketing initiatives can be costly, cannabis marketers rarely have a means of determining just how effective their marketing initiatives are. If a marketer uses several initiatives to drive sales and repeat sales, they may not know which of their marketing initiatives was responsible for boosting sales.

In such cases, tracking brand health can be a great way to determine how marketing initiatives are resonating with customers. It allows marketers to gauge how well their marketing initiatives are working both in terms of product sales and customer engagement.

Tracking brand health also helps markets to gauge customer consideration, awareness, purchase, and loyalty to each brand and gives marketers a reasonable metric on how they rank with other brands in the industry.

Furthermore, it provides clear marketing performance indicators and makes it possible for marketers to track the effectiveness of their tactics over the long term. These metrics are also helpful to firms like Advanced Container Technologies Inc. (OTC: ACTX) which are ancillary to the cannabis space.

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

About CNW420

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

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420 with CNW — Senators in Nebraska Debate Refiled Marijuana Legalization Measures

Senators in Nebraska recently held a meeting to discuss a newly filed legislation that would legalize medical cannabis in the state. The lawmakers spent the hearing listening to testimonies from experts and advocates on the therapeutic benefits of the cannabis plant.

The members of the Judiciary Committee discussed a medical cannabis bill that was filed by Senator Anna Wishart nearly a month ago, before meeting later in the day to discuss separate measures that would legalize recreational cannabis in the state. Wishart has been at the forefront of cannabis reform in Nebraska for several years now, pursuing this reform through both activist-led ballot campaigns and legislative avenues.

Her medical cannabis bill would allow patients suffering from certain medical conditions to use cannabis for medical purposes with a doctor’s recommendation. Wishart has stated that her measure is one of the most conservative medical marijuana bills in the country and that it would allow patients in Nebraska to access the medical care they deserve. She noted that growing evidence had proven marijuana’s ability to alleviate conditions such as seizures and chronic pain. Furthermore, she added that medical cannabis would help address the need for opioid use as it has proven to be an effective pain killer, without the side effects typically associated with opioid use.

Her bill would have created a medical cannabis system that allowed patients to buy and possess up to two and a half ounces of cannabis if they were suffering from any of the stipulated eligible conditions. The qualifying medical conditions include chronic pain, HIV/AIDS, epilepsy and cancer. The legislation would also ban smoking cannabis and home growing for patients with qualifying conditions.

At the recent medical cannabis hearing, Wishart stated that her goal was to prevent families that needed medical cannabis treatments from leaving Nebraska to go to other states with medical cannabis markets. She noted that her bill had already been amended to address concerns that had been raised during the last session, such as eliminating provisions that allowed vaping or smoking cannabis.

Wishart added that she was willing to make the legislation even narrower as long as it remained centered on patients who needed medical cannabis.

However, state Attorney General Mike Hilgers opposed the legislation and testified that launching a medical cannabis market would be in direct conflict with the federal prohibition of cannabis. The legislation also received opposition from a Nebraska State Patrol representative who said passing the medical cannabis bill would encourage the growth of an illicit market and increase rates of impaired driving in the state.

If the measures gain eventual approval, companies that wish to participate in the industry could find themselves needing funding from the likes of REZYFi Inc. or other entities that have created a niche around meeting the financing needs of marijuana companies in the absence of access to mainstream banks.

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

About CNW420

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

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

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

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420 with CNW — Bipartisan Senators Reintroduce Revised Bill on Cannabis Research for Veterans

Last week, a group of senators re-introduced a measure to promote studies on the use of marijuana by veterans. It is expected that an identical bill will be introduced in the House in the near-term.

A congressional source has revealed that the measure’s introduction in the House maximizes the likelihood of its passage through both chambers.

The bipartisan measure in question, the VA Medicinal Cannabis Research Act, directs that the U.S. Veterans Affairs’ department look into the medical potential of cannabis for military veterans, in particular those who suffer from chronic pain and post-traumatic stress disorder. The measure was sponsored by chair Jon Tester of the Senate Veterans’ Affairs Committee and Senator Dan Sullivan. This resolution was carried in previous sessions by Representative Lou Correa.

Sullivan added that they had an obligation to better understand and explore new remedies for mental health conditions that were both effective and safe, and could offer veterans some hope.

Despite protests from VA officials, an earlier version of this resolution was advanced by a House committee. Other versions moved through committee in 2018 and 2020. However, none of these was enacted into law.

The older versions directed that clinical trials evaluating the therapeutic potential of marijuana in the treatment of chronic pain and PTSD be carried out. This is slightly different from the most recent version, which was revised to also include a requirement for a retroactive observation study on the experiences of veterans who have used cannabis for such treatment previously, outside of the clinical trail context.

Other amendments to the bill’s new version include the removal of language that directed studies to use no less than seven marijuana varieties. This comes after an alliance of veterans’ service organizations penned a letter to congressional leaders last year requesting that they approve a cannabis and veterans research legislation before the end of the session. This action was unsuccessful.

As more states revise their drug laws, a larger market will potentially open not just for “plant-touching” companies but also ancillary companies that focus on addressing the needs of the cannabis companies, such as Advanced Container Technologies Inc. (OTC: ACTX).

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

About CNW420

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

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420 with CNW — California Releases Grants Worth $15M to Cannabis Social Equity Initiatives

On Feb. 10, 2023, the state of California announced that it had given out grants totaling $15 million to fund regional initiatives to advance fairness in the cannabis business. The Office of the Governor of Economic and Business Development (G0-Biz) gave the money to 16 counties and cities throughout the state through the Marijuana Equity Grants Program for Local Jurisdictions. The applications began toward the end of 2022.

This is in line with California’s plans to finance future and ongoing fairness initiatives for individuals who are disproportionately affected by the war on drugs with money from the marijuana tax.

The lowest grant recipient will be San Diego, which is expected to receive $350,000, while Oakland (the highest awardee) gets $1,996,487. A total of $35 million was made available for localities throughout the state in an earlier round of grants under the program, for which GO-Biz began accepting applications in 2021. The funding cap for this year and next year is $15 million.

Last year, the department reported that it had given 78 grants to groups across the state to help the social and economic advancement of areas that have been disproportionately affected by the fight against drugs. In the meantime, the state’s Department of Marijuana Control declared that the state intends to award universities that undertake studies into marijuana policy and science grants worth $20 million through cannabis taxes. These grants will cover projects such as preserving the genetic makeup of “legacy” isolates and deterring monopolies in the legal cannabis industry.

California is taking additional steps to broaden the market for cannabis outside of its borders. Regulatory authorities recently asked the attorney general of the state for an official opinion regarding whether permitting marijuana commerce across state lines would put California at “considerable risk” of federal regulatory action.

Last year, the governor signed legislation granting him the authority to enter into agreements with other jurisdictions to freely trade marijuana goods. The call for advice by DCC is an important first step that might ultimately result in the legislation being put into effect. In addition, Newsom would want to see marijuana decriminalized on a federal level, so that the cannabis producers in his state will be able to “lawfully supply the entire nation.”

Furthermore, a state senator has reintroduced a proposal to decriminalize the possession of some psychedelic substances after his previous attempt was unsuccessful in the waning moments of last year’s session.

As the cannabis industry grows even more, the need for funding from other sources such as REZYFi Inc. will grow given that the chance of a banking bill being passed by Congress is looking to be dimmer now that the GOP is in control of the House.

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

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

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