Category: CannabisNewsWire Release

CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces $5M Registered Direct Offering

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced its entry into securities agreements with institutional investors for the purchase and sale of 12,500,000 of the company’s common shares, pursuant to a registered direct offering, and warrants to purchase up to 12,500,000 common shares. According to the update, the combined purchase price for one common share and one warrant will be $0.40. Aggregate proceeds from the offering will be approximately $5.0 million, from which the company expects to use net proceeds for capital expenditures, to increase operating capacity, as well as for working capital and other general corporate purposes. Subject to the satisfaction of customary conditions, the offering is expected to close on or about Dec. 13, 2022. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

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

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands, designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.

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

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

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420 with CNW — Michigan Resident Files Lawsuit Against California’s Marijuana Social Equity Law

Kenneth Gay, a Michigan resident, has filed a lawsuit challenging the constitutionality the cannabis social equity program in Los Angeles. Gay has a stake in an LA-based company and had applied for a license under the social equity program.

According to the suit, Gay has submitted his social equity application, but as of October 24, 2022, the City of Los Angeles hadn’t completed verifying his eligibility and yet a lottery to select licensees is slated for Dec. 8, 2022. He filed his lawsuit on Nov. 30, 2022.

Under LA law, to be eligible for the social equity program permit, one has to have a prior arrest/conviction or come from a low-income area or an area that has been negatively affected by police brutality. Gay claims he qualifies in all the three categories, but the arrest happened in Michigan and not LA. In his suit, he argues that LA law provides preferential bias against out-of-state residents with regards to the social equity program lottery, yet the U.S. Constitution has a clause against such bias.

This dormant commerce clause stops states and local governments from discriminating against out-of-state residents and offering preferential treatment to the locals. From Gay’s lawsuits presented in New York State and California, he had a reprieve when his lawsuit caused a halt in licensing in some parts of New York. The New York suit has also created a degree of disarray in that New York regulators have to wait before they issue some adult-use marijuana retail licenses until after the case is resolved.

In this lawsuit the plaintiff has a 51% stake in a company, Variscite, that applied for licenses in regions that are not significantly connected to New York. The New York judge granted the injunction. He declared that the defendants, including New York State, the New York State Office of Cannabis Management (OCM) and the agency’s executive officer, did not show the legitimacy of the initial license requirements.

In Sacramento, California, Gay claims that the Sacramento cannabis social equity program requirement violates one’s constitutional rights.  In the lawsuit, Gay stated that he met all but one of the requirements for eligibility for the cannabis social equity license. This one requirement that Gay missed out on shows bias because licenses issued by Sacramento City favor current or former residents but not outsiders. Gay is not a resident of Sacramento, although he has a business there.

The lawsuits are another manifestation of the contradictions between federal law and state law, especially with regard to marijuana. On one hand, marijuana is illegal at the federal level so one wouldn’t expect federal law to be invoked in order to allow a company to conduct that business anywhere in the country.

On the other hand, many states’ laws allow marijuana, and it would be expected that states ought to be allowed to pass their own enabling laws without undue interference from federal agencies or laws. How this plays out is likely to be closely watched by companies that are active in the marijuana industry in different jurisdictions, such as Flora Growth Corp. (NASDAQ: FLGC).

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)

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420 with CNW — New Study Finds Medical Cannabis Legalization Reduces Use of Opioids by Cancer Patients

New research has found that the legalization of medical cannabis has been linked to a reduction in the use and prescription of opioids for patients with cancer. The research involved a cross-section analysis of data on insurance claims from more than 38,000 individuals who had recently been diagnosed with cancer.

The analysis included 34 states and was carried out by researchers at the University of Texas, Harvard University, Albert Einstein College of Medicine and Weill Medical College of Cornell University. The researchers’ objective was to examine how the existence of more cannabis dispensaries influenced opioid prescription.

Researchers discovered that medical marijuana legalization implemented in the period between 2012 and 2017 was associated with a 5.5% to 19.2 % relative reduction in the rate at which opioids were dispensed. The researchers stated that medical cannabis could be serving as an opioid drug substitute among some patients who were undergoing treatment for cancer.

This results come after the scientists discovered that, in general, the legalization of medical cannabis with dispensary allowances was linked to a higher decrease in the rate of one or more opioid days, especially for individuals who had recently received breast cancer diagnoses. They also discovered that the legalization of medical marijuana was linked to a decrease in pain-related hospital events among patients suffering from lung cancer and, to a lesser extent, breast cancer patients. The researchers noted that such decreases were observed soon after medical cannabis legalization came into effect.

In their report, the investigators theorized that some mechanisms could help explain their observations. For instance, they hypothesized that having legal access to medical cannabis may have prompted oncologists to prescribe less opioids. They also wrote that medical cannabis legalization may also have been linked to a decrease in the demand for opioids by patients who used cannabis to manage their pain as well as patients who used cannabis as an alternative to the pharmaceutical drugs.

In their conclusion, the investigators noted that more research was needed to shed light on the nature of these links and implications for patient outcomes. This is in addition to highlighting some of the limitations the study faced.

The study’s findings were reported in the “JAMA Oncology” journal. The results largely align with prior research on prescription trends and state-level marijuana reform. For instance, a separate study also found that allowing legal access to medical marijuana enabled patients to decrease their use of opioid painkillers or stop using them completely.

Many companies, such as India Globalization Capital Inc. (NYSE American: IGC), are developing cannabinoid-based formulations focused on alleviating chronic pain, so the number of cancer patients using opioids is likely to drop even further once these novel drugs become available.

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)

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CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) Latest DehydraTECH-CBD Study May Be 1st to Evidence Sustained Drop in Blood Pressure

Lexaria Bioscience Corp. (NASDAQ: LEXX), a global leader in enhancing the speed and efficiency of orally delivered fat-soluble active molecules and drugs, has, since inception, been committed to addressing severe unmet patient needs. Hypertension has been one of its main focus areas. “Lexaria continues to move forward, most recently with the success in its latest human clinical study, HYPER-H21-4. The study may be the first to evidence a sustained drop in blood pressure in normally active patients following multiple weeks of oral cannabidiol (‘CBD’) therapy using the company’s patented DehydraTECH(TM) technology,” reads a recent article. “Since Lexaria began developing DehydraTECH in 2014, it has continued to strengthen and broaden the technology, exploring various areas including but not limited to the oral administration of antivirals, cannabinoids, vitamins, nicotine, and PDE5 inhibitors. In early 2021, it began dosing in its first human clinical study that assessed its DehydraTECH-enabled CBD capsule formulation. This would lay the groundwork for subsequent studies while also bolstering the company’s growing list of patents, which currently stands at 27, spread across the world, including the use of DehydraTECH-processed CBD for the treatment of heart disease.”

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

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 27 patents granted and roughly 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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

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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CannabisNewsBreaks – REZYFi Inc. Leveraging Corporate Strengths to Capitalize on Growth in Multiple Verticals

REZYFi is positioned as the first cannabis mortgage banker in the United States. With most traditional lenders reticent to serve the state-licensed cannabis industry, REZYFi stands distinct. “REZYFi services the needs of both traditional and non-traditional consumers and businesses. The company is targeting 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 and project-specific financings, such as solar installations and real estate development projects,” a recent article reads. “REZYFi operates under two wholly owned subsidiaries – REZYFi Lending and ResMac Inc. REZYFi Lending primarily addresses emerging real estate-related financing opportunities. ResMac is the company’s traditional mortgage origination, correspondent and servicing operation. As a whole, REZYFi is using its corporate strengths as a foundation for diversifying its approach to capitalize on growth in multiple verticals in the years to come.”

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

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://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 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

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Improving Loan Origination Landscape is Positive News for Mortgage Loan Clients, Mortgage Loan Facilitator REZYFi, Inc.

  • Miami-based REZYFi is a mortgage lender working with traditional loans but focusing particular attention on unbanked market sectors such as the cannabis industry and those property companies that provide leases to those sectors
  • The loan origination industry appears to be experiencing a new round of greening in reversal of the year’s difficulties
  • In the wake of positive CPI data last month, analysts are beginning to anticipate a greening of mortgage lending rates once inflationary pressures are reduced, making it easier for companies to obtain loans for their projects

The greening of inflation news last month is important news for market watchers, and expectations that the Consumer Price Index (“CPI”) will continue to report favorable inflation trends has mortgage lenders anticipating less pressure on rates during the coming year and beyond.

“We’re expecting the Fed to end its Fed Funds increases into the beginning of next year, so we are expecting mortgage rates to come down to 5.4% by the end of next year and then to come further down to 4.5% by the end of 2024,” Mortgage Bankers Association Associate Vice President of Housing Economics Edward Seiler told WTOP news, referring to the average rate on a 30-year fixed-rate mortgage (https://cnw.fm/F5czL).

The CPI report that is anticipated on Dec. 13 and the Fed’s policy decision announcement the following day will tell the tale about whether the government thinks its efforts over the past several months have had the desired effect in curbing inflation and in setting the stage for lower long-term rates. Analysts are already suggesting that, even with another raise in interest rates, it could be small enough to signal an important topping out and reversal of the previous trend (https://cnw.fm/YbdlD). As mortgage rates gradually fall as expected, it reopens the door for companies that have struggled to pursue their projects in recent months.

Specialized financing company REZYFi is a growing mortgage lender working to help such businesses navigate the challenging landscape of loan origination, particularly as it applies to the traditionally underserved cannabis industry and property owners who lease to such companies.

REZYFi is anticipating the launch of its high-margin cannabis division in the coming weeks to focus on such challenging lending markets. The company also is developing a proprietary technology that will help it operate competitively by maintaining efficient turnaround time while also being economical with staffing levels.

Through its subsidiaries, REZYFi Lending and ResMac Inc., the company has closed over 20,000 loans for over 15,000 clients and expects to originate $285 million retail sales during the coming year, with $250 million in wholesale origination in motion.

Now operating in 30 states, the company expects to expand to all 50 states in the process of fulfilling its growth goals.

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

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420 with CNW — President Biden Enacts Cannabis Research Bill

U.S. President Joe Biden made history when he enacted the cannabis research bill and signed it into law on Nov. 2, 2022. The law now waits for 60 days for the attorney general to either approve it or ask for supplementary information from the originator of the bill. This new law opens the gates for further extensive research on marijuana to be done.

The use of cannabis is prohibited federally in the United States except for FDA-approved research. Specific states have, however, enacted legislation permitting the plant or its derivatives for research, medical, industrial and or recreational purposes.

President Biden still stands opposed to the legalization of cannabis. However, he has campaigned on several platforms for reforms of marijuana, including promoting research, decriminalization, more modest reforms to marijuana laws and rescheduling cannabis under the Controlled Substances Act (CSA).  This also comes hot on the heels of a mass pardon for Americans who have been convicted for being in possession of cannabis. This clemency has been viewed by the White House as one of the top accomplishments of the president.

For some years, the federal government has blocked the way of science due to stringent conditions researchers have to meet before being cleared to begin studying cannabis. But after years of lobbying and negotiations, the bill has finally been enacted, said Senator Dianne Feinstein in a tweet. Feinstein is hopeful that this will open up rigorous and critical research that will enable medical personnel to help millions of people needing drugs derived from cannabis.

The medical fraternity agrees that there is a need for more extensive research to be done in order to learn cannabis’ health benefits and give the masses other treatment options. This law removes barriers that had previously inhibited researchers.

Notably, the law does not provide a free pass for the researchers to access cannabis from state-approved or state-owned dispensaries for research purposes. The law has also encouraged the Food and Drug Administration (FDA) to develop cannabis-derived drugs while the Drug Enforcement Administration has to approve applications from manufacturers of drugs derived from marijuana and the same drugs are FDA-approved under the bill. Manufacturers also get a reprieve as the law allows for the importation of cannabis derivatives and materials to facilitate research.

The DEA in recent years has approved new marijuana cultivators for the purposes of studies while the National Institute on Drug Abuse published a solicitation for applications for authorized growers as it looks for contractors to supply the agency with cannabis for the purposes of research.

The Department of Health and Human Services is keen on learning about the health benefits versus the risks of cannabis. And, as more people take up the home cultivation of medical marijuana, entities that focus on making indoor cultivation equipment, such as Advanced Container Technologies Inc. (OTC: ACTX), are likely to expand their footprint across the nation.

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)

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420 with CNW — New Applications for Federal Positions Won’t Require Cannabis Use History

More than two decades after California first legalized medical cannabis, dozens of states now have their own medical and recreational cannabis markets. The cannabis industry generates billions of dollars in sales every year, proving that cannabis is one of the most popular drugs in the country even as states have loosened their policies.

However, the federal government still considers cannabis a Schedule I controlled substance, meaning that even though qualifying individuals are allowed to take part in state-legal cannabis markets, their actions remain illegal at the federal level.

As a result, cannabis consumers often find themselves penalized for purchasing and consuming cannabis even though it is legal in their states. For instance, federal employees who are subject to regular drug tests may be penalized for consuming cannabis in accordance with state law.

Reform activists and some lawmakers have long argued against federal prohibition for this and other reasons, stating that federal cannabis policies simply don’t reflect what is happening on the ground.

Last week, the Office of Personnel Management announced that it was proposing to treat past cannabis use more leniently during job applications. The federal agency is proposing to revise job applications such that they only ask applicants if they consumed cannabis within the past 90 days rather than at any point in history. However, applicants for public safety, national security or criminal justice positions would be asked if they have consumed cannabis at any time prior to their application.

The changes will be open to public comment for a two-month period and will result in a more lenient application process for federal employees if they are codified. If the changes receive approval, the draft Vetting Questionnaire would replace the current SF86, SF85, SF 85P-S and SF85P forms.

These forms typically cover positions with varying sensitivity and security levels, and they require applicants to divulge any illicit drug use by checking boxes. Even though cannabis is legal for adult consumption in more than 20 states and medical use in more than 30 states, it is still illicit at the federal level.

With the proposed changes in place, applicants will be provided with a much narrower timeline for past cannabis use. Furthermore, they will not be required to disclose the use of cannabis products with less than 0.3% THC, which is the main psychoactive agent in marijuana.

Answering yes to whether they used cannabis within the past 90 days would prompt additional questions, especially for individuals who were previously employed in a public safety, criminal justice or national security position.

As the restrictions surrounding marijuana gradually ease, entities such as REZYFi Inc., which are focused on funding cannabis companies, are likely to serve a wider market as more players enter the space and find traditional funding sources inadequate for their needs.

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 – Advanced Container Technologies Inc.’s (ACTX) GrowPods Return Local Control, Improve Food Quality

Advanced Container Technologies (OTC: ACTX) offers unique controlled environment farms called GrowPods, which can help reduce the environmental impact of traditional farming and enable year-round cultivation of nutritious food. According to a report republished in Science Direct, “hydroponic closed-environment agriculture could play a role in positive food system transformation, reducing environmental footprints, sparing land, and potentially helping to reconnect consumers with producers.” Further, according to Forbes, large volumes of greens are being grown indoors, even from retail giants, and controlled environmental agriculture is catching on and increasing in popularity. Doug Heldoorn, CEO of ACTX, said GrowPods are transportable and scalable, allowing fresh, nutritious food to be available on a consistent basis virtually anywhere in the nation. “GrowPods allow grocers, businesses, non-profits, and big box retailers the means to grow healthy food, year-round,” Heldoorn said. “They return local control and improve quality.”

To view the full press release, visit https://cnw.fm/R99Ez

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)

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CannabisNewsBreaks – India Globalization Capital Inc. (NYSE American: IGC) Applauds Milestone Development for Medical Cannabis Industry

India Globalization Capital (NYSE American: IGC) applauds the signing of the Medical Marijuana and Cannabidiol Research Expansion Act, which was signed into law by President Biden on Friday Dec. 2, 2022. The legislation establishes a new registration process for conducting research on marijuana and for manufacturing marijuana products for research purposes and drug development. “The study and development of cannabis for its potential therapeutic benefits is at the center of our work at IGC-Pharma,” said Ram Mukunda, CEO of IGC. “For many years, onerous federal barriers have made it difficult to efficiently source and study cannabis for pharmaceutical applications. We believe the establishment of this new law, which hastens the research application process and also ensures adequate supplies of marijuana for clinical studies, is a milestone development for the medical cannabis industry at large and a very positive development for our company.”

To view the full press release, visit https://cnw.fm/66Dlz

About India Globalization Capital Inc.

India Globalization Capital develops advanced cannabinoid-based formulations for treating diseases, including but not limited to Alzheimer’s, Parkinson’s, chronic pain, and pet seizures. The company’s leading drug candidate, IGC-AD1, has demonstrated, in Alzheimer’s cell lines, the potential to be effective in suppressing or ameliorating a key protein responsible for Aβ plaques and has recently entered phase 2 clinical trials for agitation in dementia from Alzheimer’s. The company also has lines of various CBD-based consumer products such as Holief, which includes gummies and pain relief creams for women experiencing premenstrual syndrome (“PMS”) and dysmenorrhea (period cramps), and Sunday Seltzer, which includes a CBD-infused energy beverage – all currently available for purchase. The company also operates an infrastructure business based in India. The company is headquartered in Maryland, U.S.A.

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.