Category: CannabisNewsWire Release

CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Pharmaceutical Expert as New Strategic Advisor

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, has a new strategic advisor. The company announced that Julian Gangolli, the former president of GW Pharmaceuticals USA, has joined Lexaria as a strategic advisor. During his time at GW Pharmaceuticals, Gangolli managed US Food and Drug Administration approval of Epidiolex(R), the only pure cannabidiol (“CBD”) drug ever approved by the agency; he also oversaw the commercialization of the drug in the United States, which ultimately led to Jazz Pharmaceuticals acquiring GW Pharmaceuticals in a $7.2 billion transaction. In addition to his work at GW Pharmaceuticals, Gangolli served as North American president of Allergan and a member of its executive management team, which guided the sale of Allergan to Actavis. In the announcement, Gangolli noted that Lexaria has become an established force in the field of improved drug delivery, and he hopes to assist the company in its commercial development of DehydraTECH. “As we intensify our focus during 2023 on commercial execution of our robust DehydraTECH technology portfolio, I am very pleased to welcome Julian with his extensive pharmaceutical experience, to the broadening Lexaria team,” said Lexaria CEO Chris Bunka in the press release.

To view the full press release, visit https://cnw.fm/Q3aCb

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.

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 — Federally Funded Research Finds AUD Is Lower in States Where Cannabis is Legal

Research from the University of Colorado, which was recently published in the publication “Psychological Medicine,” found that recreational decriminalization was linked to increased marijuana use and reduced alcohol use disorder (AUD) symptoms but wasn’t linked to other maladaptations. The researchers advised, nevertheless, that this information is difficult to assess and deserves exploratory research in future studies. Although their results show that marijuana consumption is not risky, the researchers could not pinpoint major variations in these bad consequences as effects of legalizing marijuana.

They found that inasmuch as there was a negligible difference in average alcohol intake, individuals living in areas where cannabis was legal seemed more unlikely to get injured when they were under alcohol influence versus their twins who resided in regions where cannabis was still prohibited.

Additionally, in a study published in “PLOS One” last year, researchers from Michigan State University suggested that in states where marijuana is legal, cannabis sales volumes could be preceded by the increasing incidences of marijuana onsets for older individuals but not for barely legal individuals who cannot purchase recreational cannabis in a retail outlet.

Based on recent federally funded research, individuals living in regions where recreational cannabis is allowed showed lower levels of AUD than those who reside in places where cannabis is still criminalized. According to the study, young individuals who spent much of their puberty under legalization were neither more nor less likely to have used marijuana at 15 years of age than young people who spent minimal or no period under legalization.

Cannabis usage rates among teenagers were steady through 2022, based on the latest publicly financed Monitoring the Future poll, despite additional regions decriminalizing the substance and the ending of pandemic prohibitions that held many children back home under their guardians and parents.

Another study, published in the “American Journal of Preventive Medicine,” found no link between rising youth cannabis use and state-level decriminalization. Marijuana use disorder could be associated in some cannabis users with issues such as the use of other drugs, cognitive function, mental problems, motivation, interpersonal interactions and job performance.

Based on the findings of researchers who evaluated a broad spectrum of outcomes, such as other substance consumption, drug dependency, disordered nature, exacerbating as well as legal difficulties, relational agreement, job involvement, civic participation and cognition, the research, which was financed by the National Institutes of Health (NIH), concluded that pursuing proven potential risks rather than concentrating on availability could be the most effective strategy to carry out prevention and intervention efforts.

As more of these studies document the wide-ranging benefits of marijuana and its constituent compounds, industry players such as Flora Growth Corp. (NASDAQ: FLGC) will gradually be perceived a lot more fondly than prohibitionists currently give them credit for.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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 — Survey Finds One in Five People Abstaining from Alcohol Are Using Cannabis to Beat ‘Dry January’

A new survey has found that one in five individuals who are not drinking alcohol this January have switched to marijuana as an alternative. The survey found that while 33% of those on a month-long break from alcohol weren’t replacing it with anything, 21% were opting for marijuana and CBD products to get through the month.

Cannabinoids and cannabis were the most common alternative, with the remaining opting for nonalcoholic beverages, including kombucha, soda and seltzer.

The survey also found that young people were more likely to consume marijuana over alcohol, with 34% of those aged 21 to 24 consuming marijuana. This is significantly higher than the 24% of people aged 25 to 34, 22% of those aged 35 to 54, and 9% of individuals aged 55 and above who admitted to consuming marijuana after ditching alcohol.

The survey’s findings highlight a trend showing that as more states legalize cannabis, more individuals are choosing to consume marijuana over alcohol and certain prescription medications.

Prior surveys have also found that most Americans believe that marijuana is safer than tobacco and alcohol.  A separate survey released in 2022 discovered that more Americans were consuming marijuana-infused edibles and smoking marijuana in comparison to those that smoked cigarettes. The poll also found that more than twice as many individuals believed cannabis had a positive impact on its consumers and society as compared to alcohol.

This is consistent with the findings of another survey released in 2022, which found that more Americans thought it would be good if people drank less alcohol and switched to marijuana, in comparison to those who thought substituting alcohol for marijuana would be bad. A separate study funded by the federal government also determined that individuals living in states that have legalized the recreational use of cannabis were less likely to suffer from alcohol use disorder, in comparison to those that have not legalized the drug’s use.

The cannabis effect can also be seen in tax revenue generated, with the states of Washington and Colorado raking in significantly higher revenues from cannabis sales than from either cigarettes or alcohol in fiscal year 2022.

Data from Massachusetts also shows that the state collected more tax revenue from cannabis than alcohol. This has also been observed in Illinois, which collected roughly $100 million more from the sale of adult-use cannabis in 2021.

The state of Arizona also collected more tax revenue from legal marijuana sales than from the legal sale of alcohol and tobacco combined.

As the marijuana industry booms in different jurisdictions, a broader market is likely to be created for entities such as Advanced Container Technologies Inc. (OTC: ACTX), which focus on making ancillary products needed by cannabis businesses.

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

About CNW420

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

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 — AMA Study Finds Patients Are Turning to Marijuana for Pain Management

According to a recent study published by the American Medical Association, approximately one-third of people with chronic pain use weed as a treatment option, with the majority of that group using it to replace other pain drugs, including opioids. The new study, published in the “Journal of the American Medical Association Substance Use and Addiction,” adds to the plethora of previous works affirming that cannabis can be used to treat pain effectively and as an alternative to some pharmaceuticals.

Researchers from Johns Hopkins University and the University of Michigan conducted the study, using information from 1,724 adults of ages 18 and older from 36 states. The study was funded by the National Institute on Drug Abuse.

According to the authors, more than 50% of adults who used marijuana to manage their chronic pain reported that doing so resulted in them using fewer over-the-counter, prescription nonopioid and opioid painkillers, and less than 1% reported that doing so resulted in them using more of these drugs. Additionally, the researchers noted that the high level of cannabis use as an alternative to opioid treatment highlighted the need for further studies to determine the efficacy and possible negative effects of cannabis.

Paul Armentano, deputy director of NORML, responded to the research in a blog stating that marijuana has shown to be effective in treating a variety of conditions, including chronic pain, and that its safety profile is comparable to or better than that of other regulated substances. “It is therefore not surprising that patients with legal access to cannabis are substituting it in place of other, perhaps more harmful and less effective substances,” he stated. Furthermore, the deputy director stated that the weed substitution effect will become more apparent in the future as legal access expands.

Several other studies have been conducted on this subject in the past, most recently by the American Medical Association (AMA), which found that the legalization of medical cannabis in some states is linked to a sharp decline in the prescribing and use of opioid painkillers among some cancer patients.

Similar results were found in a September study that showed providing patients with legal access to medical marijuana could help them cut back or stop using opioid painkillers without affecting their health. A different study published the same month revealed that the pharmaceutical industry suffers significantly in terms of revenue after states legalize cannabis. The study showed that the industry has lost more than $10 billion in revenue per legalization event.

In total, more than 4,300 studies on marijuana and its constituent parts were published in 2022, according to a NORML analysis.

This growing proof that cannabis is helping numerous patients to manage their health conditions suggests that entities such as India Globalization Capital Inc. (NYSE American: IGC) that are focused on developing therapeutic formulations using cannabinoids, including THC, could be onto something that may transform how various conditions are treated going forward.

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.

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 — New Report Shows Individuals with Previous Cannabis Convictions Receive Tougher Sentences

A recently published report shows that individuals with prior cannabis convictions receive tougher prison sentences at the federal level.  The report, published by the United States Sentencing Commission, calls attention to the long-term consequences of marijuana convictions with regard to sentencing at the federal level.

It also shows how many defendants have faced lengthier sentences due to state-level cannabis possession offenses, even after their states decriminalized or legalized marijuana.

Earlier in October, the agency announced that it would be amending its guidelines to change how cannabis possession convictions affected an individual’s criminal history calculation in sentencing rulings. Its latest report includes data showing why revising its guidelines is crucial.

The report shows that in the 2021 fiscal year, 4,405 federal offenders had extra points added to their criminal history score because of a prior marijuana possession conviction. Of this number, 1,765 were classified in a higher criminal history bracket, which came with a longer sentence. The report showed that 40% of those in this category were Hispanic while 42% were Black.

It also demonstrated that about 97% of prior cannabis possessions were state convictions, with almost 23% of them coming from a state that had since decriminalized marijuana. Roughly 15% of them were convicted in a state that had since permitted the medical use of marijuana while 18.2% were convicted in a state that had since legalized marijuana possession.

Additionally, nearly 20% of those facing serious federal consequences were of possession in a state that facilitated record expungements or a combination of the aforementioned changes in policy.

The report’s findings highlight how the federal-state cannabis disconnect makes individuals from some communities more vulnerable to severe penalties, even as federal prosecutions decline and more states adopt reform.

In the recent years, federal marijuana possession cases have trended downward significantly. Data show that in 2014, 2,172 cases were recorded at the federal level. This is a high figure, especially in comparison to the 145 cases recorded in fiscal year 2022.

This decline is mainly attributed to decreased enforcement in the District of Arizona, which made up almost 80% of all federal cannabis possession sentencings since 2014. Cases in this particular district dropped to two in the 2021 fiscal year from a whopping 1,916 cases in 2014.

The report adds that while marijuana is still classified as a Schedule I substance under the Controlled Substances Act, federal policy on cannabis possession seems to be shifting.

The struggle to end all the different manifestations of marijuana prohibition is still ongoing, and fairness in federal sentencing is just one front where this is being pursued. Access to funding is another as enterprises such as REZYFi Inc. step in to bridge the gap as advocates push for passing a cannabis banking law.

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — What Tourists Should Know About Marijuana Consumption in Thailand

Since the government delisted specific marijuana plant parts as narcotics last year, cannabis cafés and dispensaries have become more prevalent in Thailand. However, ongoing debates and conflicting legislative changes over what activities should be legal have led to the emergence of what has come to be known as a “marijuana Wild West,” which could put tourists on the wrong side of the law. Independent marijuana activist Kitty Chopaka claims that following legalization, nobody is entirely certain if they have the right information.

However, Mandel Menachem, of the weed information hub High, asserts that tourists have nothing to be afraid of as long as they follow basic guidelines and rules provided by Thailand’s ministry of public health.

So, what is permissible and what’s not? Let’s take a look.

Who is permitted to use it?

Anyone over the age of 20 is allowed to consume cannabis as long as they are not pregnant or nursing.

Where is its use permitted?

Cannabis can be smoked indoors, while marijuana-infused food can only be eaten from a restaurant with a permit. Smoking marijuana in public places such as temples, schools and malls is punishable by a $750 fine and a three-month jail term.

Chopaka advises being mindful to avoid invading other people’s space.

Where can you buy marijuana?

There are more than 2,600 dispensaries permitted to sell pre-rolled joints, marijuana flower, infused foods, CBD oil and edibles with less than 0.2% tetrahydrocannabinol (THC). These dispensaries can be found in major cities such as Chiang Mai, Bangkok and Pattaya.

Can you cultivate it?

Individuals should apply for cannabis cultivation permits with the Food and Drug Administration. A license is also required to use marijuana buds for export, research or commercial use.

Is there a limit for consumption?

While there are no restrictions on personal consumption, the ministry advises against driving after using marijuana in any form.

What still violates the law?

Visitors are not permitted to bring into Thailand or take out of the country any parts of the plant. Furthermore, visitors must obtain permission to possess products with a THC content greater than 0.2%.

Although Thailand’s cannabis laws have come a long way, there are still new policies to be announced and details to be clarified. Those considering entering Thailand’s cannabis business scene are advised to keep up with new developments and seek legal counsel for expert guidance through the regulatory complexities.

As more international jurisdictions launch marijuana markets, internationally focused companies such as Flora Growth Corp. (NASDAQ: FLGC) are likely to have a wide pool of foreign markets to expand into in the years to come as countries allow cannabis imports.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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 — Survey Finds That Maryland Residents Consume Large Amounts of Marijuana

A new survey conducted in the state of Maryland has found that every month, adult residents consume an estimated five more grams of marijuana than their counterparts throughout the United States. Cannabis Public Policy Consulting carried out the survey, which involved thousands of residents in Maryland.

The company’s director, Mackenzie Slade, and director of research, Michael Sofis, shared the results with a work group on cannabis legalization. The results show that one in five adults admitted to using cannabis every day or almost every day with more than one in three adults admitting to using the drug on a monthly basis.

The behavioral economic study also found that residents in the state consumed higher cannabis volumes than others across the country, using about 25.4 grams on average every month. This is a bit high, especially when compared to the 20.2 grams consumed by residents in other states that have legalized the recreational use of marijuana. The survey’s findings also show that cannabis consumers were willing to not only pay $14 per gram for marijuana but also drive some 20 minutes to get it.

Sofis stated that the findings were shocking and reflected an underlying motivation for marijuana.

Maryland legalized medical cannabis in 2014, making it accessible to anyone in the state with a medical marijuana card. During the November 2022 elections, voters in the state approved a measure on the ballot to legalize the recreational use of the drug for individuals aged 21 and above. This is set to take effect on July 1, 2023, once legislators establish a system for the sale of recreational cannabis.

Legislators have been tasked with deciding how the system will operate, which includes how tax revenue from the industry will be collected and allocated as well as how licenses will be issued.

The survey also estimated that during the first year of implementation, the total demand for marijuana in the state would be 824 million grams. This includes medical, homegrown and illegally sold marijuana. In their report, the consultants stated that the state’s marijuana demand was most probably in the top 20% of all states.

Sofis recommends that at least 300 dispensaries be launched in Maryland to meet the demand, with a tax rate of no more than 20% being imposed. He then highlighted the importance of ensuring that the demand was not being under- or oversupplied and emphasized the importance of allowing regulators to have production-management levers. This, Sofis noted, would help prevent a surplus in the market.

The high statistics on marijuana consumption in Maryland create opportunities for entities such as Advanced Container Technologies Inc. (OTC: ACTX), which provides cultivation equipment that can be used by homegrowers and commercial grow operations.

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.

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 Finds That Jobs in Agriculture Are Boosted by Cannabis Legalization

Contrary to the prohibitionist claim that legalizing marijuana hurts employment, a recent study from the National Bureau of Economic Research (NBER) revealed that the change actually creates more job prospects. According to researchers from San Diego State University and Bentley University, their investigation, which compared employment and wage trends in states with and without adult-use legalization, is a pioneer study to examine the effects of recreational marijuana legalization (RML) on the market for employment among people of working age.

The study would have revealed “significant negative repercussions” on the economy and industry if prohibitionists’ contention that decriminalization would impede job outcomes and employment opportunities by posing a health and safety risk were accurate. However, the analysis did not uncover any proof to back up those assertions.

Instead, the working paper’s data provide some indication that RML implementation is related to modest improvements in adult-job opportunities in the agriculture industry, associated with the establishment of a more legitimate market for marijuana cultivation and production. California, Colorado and to a lesser extent Oregon witnessed increases in agricultural opportunities among the early adopting states.

Additionally, there is some indication that RML implementation is related to small, typically short-run job improvements for Hispanics as well as for individuals over 30 years of age, according to the report.

The researchers asserted that the hiring and earnings effects were usually negligible and sometimes positive because they used methodologies such as the study of events to analyze both pre-decriminalization patterns and evaluations of after-treatment variations in job market effects. The conclusion was that the economic stability of those of employment age is only marginally affected by the legalization of recreational marijuana.

Researchers also investigated the potential economic benefits of legalizing marijuana for adult use versus medical marijuana laws (MMLs). Granting access to a larger population, for instance, may enhance the labor deficit and create new economic openings.

However, it is also typical for reforms to the criminal justice system, such as expungements, to be included in recreational legalization legislation. RMLs may thus have a significant impact on the employment and earning potential of young males with a significantly increased proclivity for marijuana possession arrest because they reduce the general risk of being convicted of a crime.

As a result of this new lawful market, there is a greater likelihood that jobs in sales and agriculture will increase, perhaps combined with employee wages as well.

However, the study did not attempt to determine whether cannabis use proactively enhances work performance. Instead, it examined broader economic changes in the wake of legalization’s implementation of policies, which it linked to somewhat higher average adult consumption.

According to the authors, legalization may have favorable implications for hiring and earnings. The emergence of a legal business, which may involve marijuana manufacturing and cultivation as well as sales of legal marijuana at recreational marijuana stores, could increase employment.

Furthermore, labor market prospects may improve — or at least be no worse off — if legal access to cannabis encourages switching away from drugs that have adverse effects on productivity, such as painkillers or excessive drinking. Additionally, if cannabis is successful at treating physical illnesses, reducing stress or enhancing mental well-being, such positive effects could have a favorable impact on the job market.

The results are essentially in line with earlier assessments, such as one dated 2021 that discovered legalization is linked to higher employee productivity and fewer workplace accidents.

Businesses have begun changing their substance-testing practices as a result of the state decriminalization movement, and strict regulations barring employers from using cannabis while they are hiring have also been connected to smaller talent pools for companies. The Office of Personnel Management (OPM) recently suggested modifying a number of employment application forms for potential employees in ways that may consider past marijuana consumption more leniently than under existing policy, even at the federal level where marijuana is strictly outlawed.

The mushrooming of companies such as India Globalization Capital Inc. (NYSE American: IGC) that seek to develop therapeutic formulations from cannabis compounds also further boosts the high-paying employment opportunities in these specialized firms.

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.

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 — Illinois Notches Another Cannabis Milestone with $1.5B in Recreational Marijuana Sales Last Year

Cannabis sales in the state of Illinois surpassed $1.5 billion last year. The state’s Department of Financial and Professional Regulation revealed that recreational marijuana sales in 2022 totaled $1,552,324,824. This represents a 12% increase compared to sales recorded in 2021, which stood at $1,379,088,278.

The strongest sales were recorded in December2022, with data showing that adults in Illinois purchased 3,446,978 cannabis products worth $143,899,826. This is quite an increase, especially when compared to December 2021 sales, which stood at $137,896,859. Figures released by the department also show that out-of-state visitors accounted for $42,363,394 in cannabis sales while residents in the state made up $95,634,565 in sales in December.

In a press release, Governor J.B. Pritzker stated that the objective was to create the most economically prosperous and equitable marijuana industry in the country when he signed the Cannabis Regulation and Tax Act into law a few years ago. Pritzker added that the latest data showed that the state was well on its way to making the goal a reality.

It should be noted that this data doesn’t include medical marijuana sales, which are separately tracked by another agency.

Currently, the state has 113 retail dispensaries in operation, including three social equity licensees that received approval in 2022. This, Pritzker noted, would help pave the way for even stronger sales in 2023.

Mario Treto Jr., Illinois Department of Financial and Professional Regulation secretary, stated that 2022 marked the second year that the state’s adult-use marijuana industry saw record-setting growth. Treto added that state officials were optimistic that the state’s marijuana industry would continue flourishing in 2023, especially with more dispensaries being launched.

Despite the industry’s growth, there is much that still needs to be done. For instance, regulators in the state released a report in September 2022 highlighting an obvious lack of diversity among business owners involved in the recreational cannabis market. The report included a plan on how this could be rectified this fiscal year, with the industry set to grow exponentially as new social-equity businesses are launched.

In other news, state officials as well as the governor have highlighted their commitment to ensuring that some of the taxes collected from the marijuana industry are allocated toward community reinvestment through its Restore, Reinvest and Renew (R3) program.

Earlier in June, state officials announced that $45 million would be awarded to support communities that were affected by the war on drugs. This was the second time funds had been allocated via the R3 program.

As more cannabis companies identify alternative sources of financing such as REZYFi Inc., it is possible that the success stories from states with legal marijuana markets will keep coming up in the media.

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

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

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) Positioned in Rapidly Growing Vertical Farming Space

Advanced Container Technologies (OTC: ACTX) today released a forecast on the expected bright future of the controlled environment agriculture sector, which includes vertical farming and the company’s own unique, portable indoor farms called GrowPods. According to the update, Morning Brew reports that vertical farming is “growing like a weed,” while BIS Research projects the sector could expand at a CAGR of 24.30% to become a nearly $20 billion market worldwide by 2029. Doug Heldoorn, CEO of ACTX, describes GrowPods as solutions set to take advantage of this trend. Transportable and scalable, they can provide fresh, nutritious food on a consistent basis virtually anywhere in the world. “GrowPods allow grocers, businesses, non-profits, local communities, and big box retailers the means to grow healthy food, year-round,” Heldoorn said. “Controlled Environment Farming is no longer just an idea… it’s the future of our planet.”

To view the full press release, visit https://cnw.fm/9DbAi

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

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.