Category: CannabisNewsWire Release

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.

India Globalization Capital Inc. (NYSE American: IGC) Announces Beginning of Phase 2 Clinical Trials for Proprietary Drug Candidate in Treating Alzheimer’s

  • Believed to be the first natural low-doses of THC-based compound to enter human trials for Alzheimer’s
  • IGC-AD1 has the potential to revolutionize the treatment of Alzheimer’s disease
  • The clinical trial is expected to produce data to “help us to further understand the metabolism of IGC-AD1 for a diverse population,” says CEO

In a historic first, India Globalization Capital (NYSE American: IGC) has begun Phase 2 clinical trials evaluating its flagship drug candidate, IGC-AD1, for the treatment of agitation in dementia from Alzheimer’s disease (https://cnw.fm/LGAZG). Company officials noted that, to their knowledge, this is the first natural low-dose THC-based compound to enter human trials for the treatment of symptoms such as agitation in dementia from Alzheimer’s disease. Currently there is no FDA-approved medication to treat agitation in Alzheimer’s.

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

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

IGC’s Phase 2 trial, a multicenter, double-blind, randomized, placebo-controlled study of IGC-AD1, has started at two sites in the United States, with plans to add up to five additional sites throughout the U.S. and Canada; a site in South America is also being considered in order to increase population diversity and promote the inclusion of underrepresented populations.

According to the company, the trial will enroll 146 patients with one-half of participants, the “treated” group, receiving IGC-AD1, and the other half, the “control” group, receiving a placebo. “The goal of the trial is to evaluate and establish the efficacy of IGC-AD1 in helping patients with Alzheimer’s dementia reduce neuropsychiatric symptoms (‘NPS’) such as agitation, which effects 76% of individuals with Alzheimer’s,” the announcement stated. “Currently, there is no Food and Drug Administration (‘FDA’)-approved drug for treating agitation in dementia due to Alzheimer’s.”

According to the announcement, IGC-AD1 relies on low-doses of THC, a psychoactive cannabinoid, and another compound as active agents. In the pre-clinical trials, the formulation demonstrated in Alzheimer’s cell lines the potential to be effective in suppressing or ameliorating a key protein that is responsible for Aβ plaques, a key hallmark of the disease.

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

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

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

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

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) CEO Provides Strategic Update in Annual Shareholder Letter

Lexaria Bioscience (NASDAQ: LEXX) CEO Chris Bunka has released an annual letter to shareholders. The detailed letter talks about company highlights throughout the year, including the fact that, despite challenges such as global supply chain disruptions and threatening inflation, “Lexaria continues to navigate well and is focused on those things it can control such as applied R&D designed to entice others to work with us commercially. . . . [The company] has not terminated any staff and in fact our in-house team as well as our external consultant head-count has never been higher, in order to conduct and [analyze] an unprecedented volume of work. We’ve managed our growth while exercising excellent fiscal controls and have hit our annual budgets, +/- about 2%, for the last two years running.” The letter recapped the company’s impressive R&D efforts, which Bunka called the “lifeblood” of the company, including the fact that LEXX is in active discussions with multibillion dollar companies around the world regarding the potential use of its proprietary DehydraTECH in a variety of commercial product pursuits. R&D efforts include a focus on hypertension and heart disease, nicotine, and seizure disorders, as well as other R&D programs. The letter also noted that the company received a successful pre-IND response from the FDA clearing the way to proceed toward formal IND filing. Bunka also reported that the company has seen “an increase in institutional ownership of our shares, which I believe is a sign of ‘smart money’ coming into our stock.”

In addition, the letter outlined Lexaria’s progress in commercial results and collaboration, which included signing new customers that will begin to have an impact on revenue in 2023 and beyond. “Lexaria achieved most of its goals for 2022 and did so while adhering to tight budgets and fiscal controls in a world where inflation is rampant,” said Lexaria CEO Chris Bunka in the shareholder letters. “We’re very careful and stingy with our shareholder’s money, and we try to build value at every step, even if that sometimes means projects take more time to complete. Our largest study ever, HYPER-H21-4, was completed on schedule, and although primary results have been released and were positive, secondary results have been slow to arrive and will continue to be released in 2023. We have several studies ongoing with dosing completion expected in the first three months of 2023, and these could help shape subsequent investigatory work. And of course, the biggest item to be accomplished in 2023 will be our IND filing and approval for initiation of the work program thereunder.”

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

About Lexaria Bioscience Corp.

Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase 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 — Five Reasons for Cannabis Industry to be Optimistic in 2023

It is natural to be nervous about the new year due to widespread concern about the state of the world and its economy. But despite the uncertainty surrounding these hazy prospects, there is a silver lining for cannabis enthusiasts.

While federal legalization of marijuana did not happen in 2022 as some had hoped, there are reasons for optimism. Cannabis users have a lot to be happy about right now, including the fact that marijuana is now legal for adult use in some red states, significant ballot initiatives are being considered, and support is growing for legalization.

Here are five things to be excited about as 2023 gets underway.

The Sale of Recreational Marijuana Is Now Legal in New York

Cannabis lovers in the Northeast have a reason to celebrate following the state’s legalization of marijuana last year. New York now allows the sale of recreational marijuana from dispensaries.

In fact, New York is expected to be the second-largest state with cannabis sales, according to Matt Hawkins, founder and managing director of Entourage Effect. The proceeds from the sales will support the expansion of the entire industry for many years.

Cannabis Ballot Initiative in Florida

A ballot initiative is attempting to change Florida from a medical cannabis state to a recreational cannabis one. According to Ballotpedia, the ballot initiative needs to gather at least 891,589 signatures by the beginning of February 2024, which will require support from the majority of Floridians.

The amendment, which is expected to take effect in 2024, will allow adults 21 and older to purchase, possess or use cannabis products and accessories for nonmedical personal consumption, either through ingestion, smoking or other means.

However, significant effort will need to be put in this year for the bill to be in effect come 2024. Thus, expect plenty of new developments this year as advocates work to turn conservative-leaning Florida into a state with liberal cannabis laws.

Missouri Legalizes Adult-Use Cannabis

Missouri will be the newest Republican state to legalize adult-use cannabis sales, with dispensaries expected to open beginning Feb. 6, 2023. The legalization of marijuana for adult use in Missouri is currently in the early stages, but by the end of 2023, the state is likely to have a fully operational market.

According to the Missouri Department of Health and Senior Services website, when approved, comprehensive facilities will be able to sell marijuana to people who have patient ID cards as well as primary caregiver ID cards and adults over the age of 21.

Cannabis Is Gaining Popularity

According to ongoing polling, Americans are becoming more open to the idea of legalizing marijuana. In fact, according to some recent statistics, almost 90% of Americans think marijuana should be legal.

According to a Pew Research poll, nearly 90% of Americans believe marijuana should be legalized in some form. The vast majority prefers it to be available for recreational purposes, with only 30% preferring it to be available for medical purposes only. According to the same Pew Research report, only one in 10 people polled thought cannabis should be illegal.

These figures show that Americans have come a long way in terms of mainstream attitudes toward cannabis. Cannabis use is becoming more normalized in many aspects of society as more states relax restrictions each year.

Marijuana Sales Appear to Be ‘Recession Proof’

There have been rumblings of a recession, and many people are preparing for a possible downturn in the economy in 2023. However, not every industry will likely experience a recession’s effects equally. Although marijuana is resilient and its sales grew despite the COVID-19 pandemic, it may not be completely immune to economic downturns but is still not heavily affected as other industries often are.

Rainbow Realty Group president Kylie Shenfeld believes that sales in the cannabis industry will continue to rise this year, following a steady increase during the holiday season. Therefore, despite the possibility of future economic hardship, marijuana sales are likely to remain strong for the foreseeable future.

All these reasons suggest that licensed companies such as Flora Growth Corp. (NASDAQ: FLGC) can look forward to a generally good year if they do their homework and capitalize on any opportunities that present themselves.

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 — Legislators in the US Virgin Islands Approve Bill to Legalize Recreational Marijuana

Legislators in the U.S. Virgin Islands recently passed a bill to legalize cannabis for recreational use. This move brings the total number of U.S. territories and states that have legalized the recreational use of marijuana to 21.

The possession of an ounce of marijuana was decriminalized in the Caribbean Island territory almost a decade ago in 2014, with the legislature approving a bill to allow the medical use of cannabis years later, in 2019. At the moment, the medical use of marijuana has been legalized in 37 states. However, the drug still remains illegal at the federal level because it’s still classified as a Schedule I substance under the Controlled Substances Act.

Under the recently approved measure, visitors to the island territory as well as its residents will be allowed to buy medical cannabis and adult-use marijuana at licensed dispensaries.

Senator Jannelle K. Sarauw sponsored the bill, which was approved in the senate on Dec. 30, 2023, during the last session that Senator Donna A. Frett-Gregory served as senate president. Frett-Gregory voiced her support for the legislation, noting that it would be irresponsible to not advance the legislation as government funds had been spent.

Media reports expect that Gov. Albert Bryan will sign the measure given how vocal he has been in the past, expressed his support for marijuana policy reform. The measure was passed together with another legislation to expunge prior convictions for cannabis-related offenses.

In a press release, Sarauw stated that the measure was a collaborative effort by advocates who have overcome opposition to comprehensive marijuana policy reform. She added that she was proud of the work done by advocates and community stakeholders as well as senators of the 34th legislature, all of whom contributed to the structure of the final bill that was voted on.

Sarauw also noted that due diligence was done to protect the best interests of the residents, which would ensure that everyone had the opportunity to take part in the industry, particularly minorities. In addition, the senator highlighted that the provisions included in the bill would see to it that the industry was diverse and inclusive as well as safe, adding that she hoped the current administration would implement both adult use and medicinal use to their full potential for the benefit of the territory’s residents.

It should be noted that while the measure was approved in a vote of 11 to 1, the legislature hasn’t yet approved regulations to govern the cultivation and sale of cannabis, which is necessary before a regulated marijuana industry can commence operations in a legalized economy.

As the rules around cannabis cultivation become known, equipment makers such as Advanced Container Technologies Inc. (OTC: ACTX) could find themselves having an uptick in orders from licensed cannabis growers.

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.

CannabisNewsBreaks – IBN Expands Collaboration with NECANN for 2023 Event Series

IBN, a multifaceted financial news and publishing company, today announced expansion of its multi-year collaboration with NECANN to serve as an official newswire for its upcoming conferences in 2023. NECANN organizes events around the establishment and growth of cannabis markets and associated opportunities in carefully selected communities with the potential to usher in the normalization of consumption and supportive policy frameworks. Under the collaboration, IBN will provide additional outreach via its syndication network for NECANN events, leveraging an extensive array of corporate-communications solutions to heighten visibility and drive recognition of conference participants among various audiences. “NECANN events are unique for their ability to identify communities that have a high probability of adopting and normalizing cannabis consumption culture,” said Marc Shepard, cofounder and president of NECANN. “We thrive on identifying inherent strengths in target communities and leveraging those attributes to accelerate adoption and push for the implementation of viable roadmaps. Attendees will share in the invaluable experience of the cultivation of cannabis markets and communities nationwide. IBN is a great partner to help make this a reality, and their widespread online presence has been a strategic advantage for our event series.”

To view the full press release, visit https://cnw.fm/wCB2J

About IBN

IBN consists of financial brands introduced to the investment public over the course of 17+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of client-partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.

Through our Dynamic Brand Portfolio (“DBP”), IBN provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) Press Release Enhancement to ensure maximum impact; (4) full-scale distribution to a growing social media audience; (5) a full array of corporate communications solutions; and (6) total news coverage solutions.

For more information on IBN, visit https://www.InvestorBrandNetwork.com

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

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.

REZYFi, Inc. Creates Opportunities for Cannabis Related Real Estate Financing as Mainstream Media Begins to Show Growing Acceptance of Cannabis-Derived Products

  • Google will change its requirements for product ads on January 20, 2023, to allow the promotion of FDA-approved pharmaceuticals containing CBD and topical hemp-derived CBD products in California, Colorado, and Puerto Rico
  • Non-FDA-approved CBD topicals will require certification from LegitScript, which will test THC compliance and review the third-party Certificate of Analysis of each product to be promoted
  • With the growing acceptance of cannabis, REZYFi is positioned in the financial industry as one of the first cannabis mortgage bankers in the United States

In the United States, cannabis-related products are growing in acceptance, even in mainstream media. A recent announcement from Google advises that the company will update its Dangerous Products and Services and Healthcare and Medicines Google Ads policies on January 20, 2023. Google will allow for the promotion of FDA-approved pharmaceuticals containing cannabidiol (“CBD”) and topical, hemp-derived CBD products with a tetrahydrocannabinol (“THC”) content of 0.3% or less in California, Colorado, and Puerto Rico. Non-FDA-approved topicals will require verification through LegitScript. Google will continue to disallow ads promoting other CBD-based products, including supplements, food additives, and inhalants (https://cnw.fm/q2t6S).

For non-FDA-approved CBD topicals, LegitScript’s certification will require that products sought to be advertised: (1) provide samples for compliance testing of legal THC limits, and (2) provide a third-party Certificate of Analysis. LegitScript charges a fee for processing and monitoring applicants. However, through March 31, 2023, the company is offering a waiver of application fees with promo code “CBDPRODapp” for product certification (https://cnw.fm/YIWtN).

Since 2016, when California legalized cannabis, the state has shown a growing acceptance – which has been working its way across the country. According to Pew Research Center, nearly 90% of adults in the US favor cannabis, with 59% showing favor for recreational and medical use and 30% showing favor for medicinal use only (https://cnw.fm/PUdte). Not all industries have embraced the acceptance of cannabis, though, with many traditional financial institutions still reticent to serve the state-licensed cannabis industry.

Disrupting the financial industry and favoring cannabis-related companies is REZYFi, a growth mortgage origination and specialized financing company in the United States. REZYFi originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company targets markets that include 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 works through two wholly-owned subsidiaries – REZYFi Lending, which primarily addresses emerging real estate-related financing opportunities, and ResMac Inc., the company’s traditional mortgage origination, correspondent, and servicing operation. Through these subsidiaries, REZYFi plans to use its corporate strengths – experience, a network of independent brokers, and proprietary technology – to provide an essential source of growth within the cannabis industry, positioning itself as one of the first cannabis mortgage bankers in the United States.

Combined, the medical and recreational use of cannabis are expected to reach a market value of $33 billion by the end of 2022, with retail cannabis sales projected to reach $52.6 billion by 2026 (https://cnw.fm/6ZXAd). The growth is attributed to more state voters accepting cannabis for recreational and medicinal use. The growing acceptance of cannabis for medicinal and recreational use is driving markets in various industries, creating a call for services, including financing options – which REZYFi is uniquely positioned to answer.

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

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.