Category: CannabisNewsWire Release

Prime Harvest Inc. Prepares to Expand Retail Footprint with Approval Recommendation From San Diego Planning Group

  • San Diego Planning Group grants approval recommendation to Prime Harvest Inc. to open retail cannabis outlet in Mount Hope
  • Community planning groups often appeal retail cannabis applications, resulting in long delays, court cases, and project abandonment
  • Prime Harvest received local support by meeting with community stakeholders, revealed plans to integrate community’s needs into project
  • Prime Harvest is a member of the Community Alliance Program, provides financial assistance for educational programs, homeless veterans, urban farms, and the arts

Opening a cannabis retail outlet in San Diego is not an easy process, but Prime Harvest, a legal tech-focused cannabis enterprise and parent company to JAXX Cannabis, is now one step closer with an approval recommendation from the San Diego Planning Group (https://cnw.fm/suOaj).

Most cannabis companies aiming to open a retail shop are not as fortunate due to the overwhelming resistance from community planning groups across San Diego. Appeals are rampant, and typically result in long delays, court cases, and project abandonment.

Despite the arduous process, some cannabis companies – like Prime Harvest Inc. – manage to break through and gain an approval.

On November 14th, the Southeastern San Diego Planning Group voted 8 to 2 to recommend approval of a conditional use permit for Prime Harvest Inc. to open a retail cannabis outlet in the city of Mount Hope. This is in sharp contrast to previous applications opposed by local grassroots organizations such as Millennium Hippie and Paving Great Futures, where “lack of engagement with the community and no plan for equity” were cited as reasons for the appeals.

Prime Harvest Inc.’s application took a different turn due to multiple meetings between the company and community stakeholders. During those engagements, Prime Harvest Inc. representatives demonstrated a plan to integrate the communities’ needs into its project, such as neighbourhood security and park beautification.

Social initiatives and philanthropy have always been a part of Prime Harvest Inc.’s mission. The company is a proud member of the Community Alliance Program (“CAP”), which provides assistance for educational programs, veterans, urban farms, and the arts. In addition, the CAP advocates for safe access of cannabis medicine to individuals in need.

Scientific research continues to validate therapeutic cannabis use for numerous conditions, including multiple sclerosis, anxiety, chronic neuropathic pain, resistant pediatric epilepsy, chemotherapy-induced nausea, and insomnia (https://cnw.fm/OhLhT). Prime Harvest Inc. is dedicated to helping patients affected by these conditions. Further, to complete its retail offerings, the company plans to market a range of cannabis-based products targeted at recreational and health-conscious consumers.

“From our humble beginnings in 2017 as San Diego, CA cannabis producers to our position today as a leader within the state’s cannabis industry, we’ve delivered excellence in legal access to cannabis, and best-in-class experiences that our community loves and supports,” said Prime Harvest CMO JM Balbuena (https://cnw.fm/C4YWI).

Prime Harvest Inc. is a full-service cannabis company that focuses on licensing, acquisition, compliance management, and direct-to-consumer operations. The company aims to provide first-in-class cannabis experiences while enriching local stakeholders with programs that support vulnerable communities, healthcare, education, and the arts.

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

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

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 — Texas Veterans Want Medical Cannabis Program Expanded, Delta-8 THC Accessible

Veterans in Texas are fighting to defend the state’s hemp industry and push to expand its medical cannabis program during the state’s legislative meeting at the capitol. The vets and those who support them claim that they require access to delta-8 tetrahydrocannabinol, a hemp product, to treat conditions such as PTSD, traumatic brain injuries and chronic pain. Like marijuana, delta-8 THC is widely available in Texas and can induce euphoria.

It is distinct from the more popular commercial hemp substance known as cannabidiol (CBD), which can be found in a wide range of goods such as gummies, lotions and pet treats. Although CBD can make a user feel a little more at ease, it won’t give users the same high as delta-8 THC.

A majority of states, including Texas, legalized hemp production after federal regulations were changed in 2018 to remove hemp from the list of prohibited controlled substances. Hemp plants contain less THC, or the substance that gives the drug its high, than marijuana does.

However, Texas Senator Charles Perry wants the state to restrict access to delta-8 because of its psychoactive properties. He believes that hemp-based products with psychoactive effects are already prohibited. He has stated that he will not allow a renegade group in the industry to jeopardize that.

The reopened legislative debate occurs as several of the state’s cities struggle to decriminalize cannabis by prohibiting arrests. Even though 82% of Texas residents are in favor of legalizing cannabis for medical use, the state remains one of the 29 states that have yet to legalize the drug for recreational use.

The cannabis Compassionate Use Program in Texas, one of the most restrictive in the country, has a very small number of prescribing physicians and stringent eligibility requirements. It was created in 2015 to assist severe epilepsy patients. Less than 50% of the 36,651 Texas residents who had signed up for the program as of October last year were actually using the regular care and medication that the program provided.

Veteran-focused service organizations have actively aided in the growth of the program in the past. For instance, PTSD was added to the list of qualifying conditions in 2019 with the help of such organizations. Although the vets appreciate further expansion, they believe that the current hemp market, as opposed to the program, provides them with greater access to comparable and more affordable options such as delta-8 THC.

The medicinal potential of cannabis and its different compounds is attracting plenty of investor interest, and companies such as India Globalization Capital Inc. (NYSE American: IGC) are focused on bringing innovative FDA-approved, THC-based therapeutics to the market.

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 — Study Suggests Cannabis Has No Link to Hangover Effects, Questions Drug Policies

Anyone who has consumed alcohol and used marijuana will tell you that one core difference between the two is that, unlike alcohol, cannabis does not induce a hangover. While you may feel a little foggy and lethargic following a night of cannabis consumption, you will feel none of the uncomfortable symptoms associated with an alcohol hangover.

However, since anecdotal accounts of how cannabis doesn’t leave users with a hangover rarely count in the grand scheme of things, researchers have repeatedly set out to determine whether or not marijuana has a hangover effect via the scientific method. A review of 20 such studies by University of Sydney researchers has further challenged the idea that cannabis has hangover effects and raised questions regarding the legitimacy of drug policies that punish certain individuals for prior cannabis use.

The researchers analyzed 20 studies that reviewed the effects of cannabis eight hours after consumption; they focused on assessing the performance of subjects to detect any hangover effects. The author of the study, Danielle McCartney, stated that most of these studies did not observe any next-day effects after using cannabis. McCartney, a research fellow at the University of Sydney’s Lambert Initiative for Cannabinoid Therapeutics, then noted that although some research did observe some next-day effects, those studies had substantial limitations.

The studies also did not report on the magnitude of these next-day effects nor did they provide data on THC doses, means of THC administration and the type of assessment used. McCartney highlighted that, overall, there was scant scientific proof to support the claim that cannabis can impair a user’s performance eight hours after initial consumption.

The researchers’ findings, which are due to be published in the “Cannabis and Cannabinoid Research” journal, are already available online. In their conclusion, the researchers argue that more research is needed to fully understand the next-day effects of cannabis on performance, noting that their findings are relevant to employment and driving policies for cannabis users.

The study found little concrete evidence that people should not drive or work in safety-sensitive positions at least 24 hours after using cannabis.

The investigators also noted that policymakers should be aware of the serious consequences that follow the enforcement of conservative regulations in the workplace, such as losing employment due to a positive drug test despite being completely sober at the time of the test.

They explained that employees who needed medical cannabis to manage conditions such as chronic pain and insomnia could suffer from a lower quality of life if they were forced to stay away from medical cannabis to keep their jobs.

This concern comes as even more jurisdictions are allowing qualifying patients to grow their own medical marijuana. As a result, there is an expanding market for requisite indoor cultivation equipment from enterprises 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 — Federal Judge Rules That Gun Restrictions for Cannabis Users Are Unconstitutional

Cannabis reform activists and users recently scored a major win after an Oklahoma federal judge ruled that banning cannabis users from owning firearms is unconstitutional. Although tens of millions of Americans now have access to cannabis via state-legal medical and recreational markets, federal law still prohibits the production, distribution, sale and use of marijuana. As a result, cannabis users often find themselves facing repercussions for consuming cannabis per their home state’s regulations.

One such consequence is that individuals who use marijuana are prohibited by federal law from purchasing and owning firearms, a right that is afforded to all Americans through the Second Amendment.

The new ruling came after Oklahoma native Jared Michael Harrison, who had been arrested after a traffic stop where police officers discovered cannabis and a loaded revolver in his car, filed a legal challenge against the country’s federal firearms legislation. His attorneys argued that Harrison’s right to bear arms was violated after a federal law made it illegal for “unlawful users or addicts of controlled substances.”

At the time of his arrest, Harrison informed law enforcement that he was on his way to work at a medical cannabis dispensary, but he did not possess a medical cannabis card. According to his lawyers, the federal firearm legislation that made it illegal for Harrison and other cannabis users to own firearms was in direct contradiction with America’s history of regulating firearms.

They touched on a 2022 ruling where federal prosecutors argued that the regulations were in line with America’s history of preemptively disarming people who were considered at risk such as felons, the intoxicated and the mentally ill. U.S. District Judge Patrick Wyrick ruled in favor of Harrison, arguing that his status as a cannabis user was not enough legal justification to strip him of his second amendment right to bear arms and was unconstitutional.

Wyrick stated that using cannabis was not in line with the characteristics of individuals who had, historically, been prevented from exercising their second amendment rights. Wyrick also noted that marijuana was widely accessible under Oklahoma’s legal marijuana market and that citizens could legally purchase the plant at more than 2,000 authorized stores across the state.

The ruling comes just a few months after a Texas federal judge ruled that the federal government could not prevent individuals under felony indictment from purchasing and owning guns. A day before the ruling in Oklahoma, a panel of judges in the New Orleans’ 5th U.S. Circuit Court of Appeals also ruled that it was unconstitutional to ban individuals with domestic violence restraining orders from owning firearms.

As more states allow qualifying residents to grow their own marijuana, more contradictions between state and federal rules will be unearthed even as opportunities are created for manufacturers such as Advanced Container Technologies Inc. (OTC: ACTX) that make the necessary equipment for indoor grows.

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

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420 with CNW — US Senate Democrats Explore Way Forward for Cannabis Banking

Only a few weeks after facing Republican opposition and being excluded from the fiscal year-end expenditure bill, Senate Democrats are reconsidering cannabis banking legislation. Senator Charles Schumer, the majority leader in the Senate, met with a small group of Senate Democrats on Feb. 1, 2023, to discuss how they would plot out the bill in the next Congress despite what appears to be a likely stalemate with Republicans in control.

The proposed bill would enable banks to provide services to marijuana-related businesses in states where it is permitted.

Last year, Senators Cory Booker (N.J.) and Ron Wyden, who was unable to attend the most recent meeting due to a prior engagement, uncovered an exhaustive cannabis reform package. However, to win the support of the GOP, Schumer oversaw negotiations that resulted in an agreement called Safe Banking Plus.

Although the leaders are optimistic, they are aware that the road to getting the bill past the GOP-controlled House is difficult.

In December, Patrick McHenry, the chairman of the House Financial Services Committee, stated that while he opposes SAFE Banking, he would not obstruct the bill’s passage if Congress supported it unanimously. However, it doesn’t seem to be at the top of the House Republicans’ priority list.

Senators Dan Sullivan (Alaska) and Steve Daines, who spearheaded the effort to have Safe Plus in either the omnibus spending or annual defense bills during the previous Congress, were conspicuously absent from the discussion this week. Mitch McConnell, the leader of the Senate minority, slammed any door that might have allowed the bill to be attached to either of the two bills in the past.

It was intended for the SAFE Banking Plus legislation to be introduced alongside the Harnessing Opportunities Act, initiated by Representatives Alexandria Ocasio-Cortez and David Joyce (R-Ohio), which would have funded state expungement initiatives with grants.

Democrats are, however, divided over how to get SAFE Banking Plus signed into law by the president.

Senators who support the bill point out problems that have arisen as a result of cannabis businesses being excluded from the contemporary banking system, such as a recent wave of robbery attacks on dispensaries that have become easy targets because they are compelled to carry liquid cash.

“We’ll keep working on it until the end. There is a serious public safety concern here. People in my class don’t understand that, despite having legalized it through a vote, we can’t use banks,” Wyden said, slamming Republicans who frequently support states’ rights but disagree on a specific point.

As lawmakers ponder how to get cannabis banking enacted, innovative solutions like those provided by alternative financiers such as REZYFi Inc. will continue to be the lifeblood of entities looking to scale their operations or launch new products.

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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CannabisNewsBreaks – REZYFi Inc. Using Diversified Approach to Real Estate Lending Sector

REZYFi, a growth mortgage origination and specialized financing company in the United States, is at the forefront of cannabis and real estate. “REZYFi originates, structures and invests in first mortgage loans and alternative structured financing secured by commercial real estate properties. REZYFi’s target market includes licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based financing… REZYFi operates through two wholly owned subsidiaries and is positioned as one of the first cannabis mortgage bankers in the United States, an area most traditional banks are hesitant to serve,” a recent article reads. “REZYFi is using a diversified approach to the real estate lending sector to capitalize on growth in multiple verticals in the years to come. The company’s experience, network of independent brokers, and proprietary technology allow it to leverage the industry and offer a wide range of real estate and financing options that were not readily available.”

To view the full article, visit https://nnw.fm/4UapS

About REZYFi Inc.

REZYFi is a cannabis-focused mortgage origination and specialized financing company in the U.S. The company originates, structures and invests in first mortgage loans and alternative structured financings secured by commercial and residential real estate properties. For more information, visit the company’s website at REZYFi.com.

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

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

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The 2023 New England Cannabis Convention: Unlocking the Full Spectrum of the Cannabis and Hemp Industry

The 2023 New England Cannabis Convention, a three-day event being conducted from March 10 – 12, 2023, invites cannabis professionals, investors, entrepreneurs, and growers, for immersive experiences and meaningful interactions.

As the leading cannabis industry event on the east coast, NECANN brings new consumers and relationships to the attendees. The event regularly attracts the largest number of cannabis, MMJ, and hemp industry specialists, and this year will again be the biggest, most significant cannabis industry event on the East Coast!

Home Base for the New England Cannabis Industry

NECANN has been developing appealing conventions for the cannabis industry since 2014, intensifying market opportunities for entrepreneurs, businesses, investors, patients, educators, advocates, and consumers.

This grand Annual Meeting of the East Coast Cannabis Industry features a sold-out exhibit hall including hundreds of businesses spanning the full spectrum of the hemp and cannabis industries. It also embraces five full programming tracks running throughout three days, with several professional speakers covering all the significant news and topics for the New England markets.

The Annual N.E. Cannabis Convention will also honor the key businesses and individuals putting an incredible amount of work into the cannabis industry. The award winners will reveal the best cannabis grown in the northeast. Attendees can leverage numerous separate ticket workshops with incredible networking events and after-parties all weekend.

Who should attend?

Entrepreneurs, cannabis enthusiasts, and the general public can all enjoy the 2023 New England Cannabis Convention, which will offer educational seminars. The informational conferences and panel discussions will provide insights into the cannabis political climate, new/ existing legislation, potential growth, business opportunities, networking and career opportunities, cannabis research, awareness, education, and advocacy.

Cannabis growers and professionals can show you how to nurture your cannabis brand with excellent labelling, representing the newest in vibrant on-demand label media and color printing solutions. Attendees can connect with exhibiting cannabis-related vendors including physicians and doctors, ancillary cannabis product manufacturers, CBD product distributors, local dispensaries and producers, and many others.

Exhibitors will get an opportunity to demonstrate their services and products to a target audience, getting their business noticed while helping to build important collaborative associations with other cannabis business disciplines.

To learn more, please visit https://cnw.fm/dXHmw

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

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

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Specialized Mortgage Loan Facilitator REZYFi, Inc. Represents Critical Capability for Hard-to-finance Cannabis Industry

  • Miami-based REZYFi Inc., is a mortgage lender that originates traditional loans but strategically is focused on non-traditional markets such as the cannabis industry
  • The cannabis industry has enjoyed a boom in market interest but still needs a reliable loan source for real estate mortgages
  • REZYFi’s strength as a commercial real estate lender is based on its licensing in the majority of states, with more to come, and in its proprietary automated / machine-learning technology
  • Improving national economy trends have reduced pressure on mortgage rates in recent weeks, and many analysts expect that mortgage rates will continue to decrease through the end of the year, increasing the number of loan-seekers in the process

Specialized mortgage loan originator REZYFi provides a critical service to the cannabis industry, which has exploded on the scene in recent years despite the hefty challenges involved in obtaining mortgage loans from federally insured banks reluctant to service an industry legalized only on a state-by-state level.

REZYFi’s model recognizes that income from licensed cannabis operators is legal and sustainable in states such as California, which boasts one of the largest economies in the whole world. The company provides senior loan and project financing optoins to state-licensed operators, with the loans secured by real estate and/or other assets of the borrowers “to the extent permitted by applicable laws and regulations governing such borrowers,” according to REZYFi’s website (https://cnw.fm/YqDr2).

The law of supply and demand means a high degree of competition for the limited properties that may be compliant with municipal regulations. This is key for marijuana businesses in an urban environment where the greatest number of customers are likely to be found. The report notes that the result can be a significant cost challenge for acquiring the real estate. Searching for properties that aren’t a top-grade quality, but which can be improved, or that are off-market in a “green zone” are among potential solutions to help alleviate that situation, it states. REZYFi is set up to deal with these issues.

REZYFi’s corporate strengths — including licensing in most states, with plans to become licensed in all remaining states in the near future, as well as proprietary automated / machine-learning technology that helps drive efficiency — helps clients in the cannabis industry find success. Reduced pressure on mortgage rates coinciding with cooling inflation trends has drawn many property buyers back into the market in recent weeks (https://cnw.fm/UR7i8).

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.

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

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

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

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CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Study Shows That Long-Term Use of Medical Cannabis Leads to Lower Opioid Dosages

A recent study published by the American Medical Association (AMA) found that patients with chronic pain who used medical cannabis for more than a month experienced a significant drop in the amount of opioids they were prescribed. The study, conducted by researchers at the New York Department of Health in collaboration with City University of New York and the Marijuana Management Office, examined 8,165 patients registered in the state’s medical cannabis program.

The researchers used data from the state’s medical marijuana programs from 2017 to 2019 to track how patients’ opioid prescriptions changed over time. The data included patients who had at least one opioid prescription and a recommendation for medical cannabis at the time they received their first marijuana prescription.

According to the findings, the number of opioids consumed by pain patients who received marijuana for more than 30 days was cut in half. Consequently, those who received marijuana for less than 30 days only experienced reductions of 4% to 14%.

The authors also noted that the rise in opioid-related casualties has resulted in stricter prescription guidelines, which has resulted in fewer opioid prescriptions and even a discontinuation by some patients. This abrupt disconnection puts patients who rely on opioids to manage their pain in a difficult situation. Some resort to the unregulated market, where risks such as fentanyl poisoning are much higher.

The new study was welcomed by cannabis supporters as additional proof that the substance can manage pain more effectively and safely than prescription medications. The findings, according to NORML, are in line with several other studies showing that patients often use cannabis to manage their pain and that many reduce or stop using opioids and other medications after receiving marijuana therapy.

James McDonald, New York’s acting commissioner of health, referred to the study as further proof that medical marijuana can reduce the quantity of opioid prescriptions required to treat severe pain.

Numerous anecdotal accounts, statistically significant studies and observational analyses have indicated that some people use cannabis as a substitute for conventional pharmaceutical drugs such as opioid painkillers and sedatives. The new study, however, adds to a growing body of literature that looks at cannabis as a potential treatment for chronic pain, particularly as an alternative to opioids.

Similar research revealed last month that legalizing cannabis for adult use at the state level was linked to reductions in opioid demand. According to the study’s findings, states with legal marijuana experienced a 26% decrease in the amount of pharmacy-prescribed codeine.

Furthermore, another AMA study revealed that two in six people with chronic pain report using marijuana as a form of treatment, and the majority of those people have done so in place of other painkillers such as opioids.

With such study results, it isn’t surprising that a number of enterprises such as India Globalization Capital Inc. (NYSE American: IGC) are looking to develop a range of THC-based treatments for various indications, such as chronic pain.

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 — Maryland Legislators Announce Proposed Law to Operationalize Voter-Approved Marijuana Legalization

Months after Maryland voters approved a ballot referendum to legalize marijuana, state legislators have unveiled a proposed bill to tax and regulate cannabis. Senators Brian Feldman and Antonio Hayes are sponsoring the Senate version of the bill while Delegates C.T. Wilson and Vanessa Atterbeary are carrying the House version.

With the law that legalized the possession of up to 1.5 ounces of cannabis for adults taking effect on July 1, 2023, the proposals are meant to prepare the state for regulating a commercial cannabis market. The proposals would levy a 6% tax for the first fiscal year beginning this summer before increasing the tax rate by 1% per year until it maxes out at 10% in 2028. Under the twin proposals, 30% of total tax revenue from cannabis would be directed to a community reinvestment fund for the next 10 years while 1.5% of tax revenue would be dedicated to localities while the Cannabis Business Assistance Fund and a Cannabis Public Health Fund would get 1.5% each.

The bills would also rename the Marijuana Alcohol and Tobacco Commission, making it the Maryland Alcohol, Tobacco and Cannabis Commission. The commission would be in charge of regulating the state’s cannabis program and would assist individuals who had been disproportionately affected by the war on drugs via an Office of Social Equity. The Office of Social Equity would partner with the Maryland Department of Commerce and the state comptroller to figure out the most efficient way to distribute cannabis tax dollars from the community reinvestment fund.

Furthermore, medical cannabis dispensary licenses would convert into dual licenses on July 1, 2023, when cannabis legalization takes effect if the license-holders have paid the required fee. After that, cannabis regulators would have until July 1, 2024, to start approving more recreational cannabis licenses.

According to Senate President Bill Ferguson, Maryland legislators have come up with a bill that has the potential of being the national model. Ferguson stated that the proposals would prioritize protecting public health while ensuring that individuals from communities that were disproportionately affected by cannabis criminalization have fair and equitable access to the cannabis industry. He also noted that the state must be ready to launch cannabis sales this July and craft smart rules to prevent ending up with more unlicensed shops, which has happened in other states.

A spokesperson from the governor’s office reported that the governor says the bills are “well-crafted” and he looks forward to working with the legislature.

When this legalization law takes effect, there may be cannabis companies that will need funding from sources such as REZYFi Inc. to keep their fledgling operations on the right footing as the market grows over the years.

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
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303.498.7722 Office
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CNW420 is part of the InvestorBrandNetwork.