Category: CannabisNewsWire Release

420 with CNW — Study Suggests Cannabis Users Are Less Likely to Suffer Severe COVID-19 Infections

As the coronavirus pandemic raged on, infecting millions of people across the world and taking thousands of lives each day, there were claims that cannabis use could potentially reduce the risk of contracting the virus. Looking to ascertain whether these claims were factual, researchers began looking at the relationship between cannabis and COVID-19 and found that the controversial drug could indeed reduce the risk of developing coronavirus health complications.

Researchers have now found a link between marijuana consumption and reduced coronavirus severity among patients who were hospitalized due to COVID-19 complications. They say that cannabis could potentially lower the severity of the virus and result in better health outcomes. This is despite the fact that cannabis users involved in the study were five times more likely to use tobacco compared to nonusers.

The study, which involved 1,831 hospitalized patients who had COVID-19, found that cannabis users who were admitted with the coronavirus had a reduced need for mechanical ventilation and ICU admission. It was published in the “Journal of Cannabis Research.” In the report, 4% (69) of the study participants reported using cannabis regularly, with the active cannabis users being younger, less often diabetic, and having higher tobacco smoking rates.

Researchers also found that active cannabis users had fewer inflammatory markers when they were admitted compared to COVID-19 patients who did not use cannabis. They had lower levels of C-reactive protein (CRP), ferritin, D-dimer and procalcitonin compared to nonusers. Furthermore, cannabis users had better health outcomes after infection compared to nonusers, ultimately exhibiting a reduced need for mechanical ventilation (6% vs. 17% in nonusers), lower ICU admission rates (12% vs. 31%) and shorter hospitalization intervals (four days vs. six days).

Study authors believe the better health outcomes associated with regular cannabis use for COVID-19 patients could be due to the medical properties of cannabinoids. Produced by cannabis plants, cannabinoids have been found to have a variety of medical benefits because of their potent anti-inflammatory, antioxidant and antimicrobial properties.

The study said that intubation rates were 6 percentage points lower and ICU admission was 12 percentage points lower in active cannabis users. The researchers concluded that based on their study, it seemed that cannabis users who were admitted with COVID-19 had better clinical outcomes compared to nonusers.

However, the researchers acknowledged that their study had plenty of limitations because it was a retrospective analysis and encouraged interested parties to interpret the results with caution. They called for future observational and prospective studies to get a better idea of how cannabis use can affect COVID-19 patients.

More research is needed to clarify which conditions marijuana may help with so that consumers can be certain that, as they consume the products made by entities such as American Cannabis Partners either recreationally or medically, they can expect to enjoy a given set of benefits based on the compounds present in the specific product they are consuming.

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

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 – IBN, CannabisNewsWire to Shine the Spotlight on Cannabis Conference 2022

CannabisNewsWire (“CNW”), a specialized communications platform for the cannabis sector and one of the 50+ brands within IBN (“InvestorBrandNetwork”), today announced its reengagement by GIE Media to serve as a media sponsor for Cannabis Conference 2022. The unique event, presented by Cannabis Business Times, is slated to take place at the Paris Las Vegas Hotel & Casino in Las Vegas, Nevada, from Aug. 23-25, 2022. Industry participants from more than 30 countries will attend the globally acclaimed conference, which is dedicated to professionals of plant-touching businesses across the cannabis and hemp space. IBN and CannabisNewsWire will leverage their array of extensive corporate communications solutions to heighten recognition for conference participants seeking to enhance visibility among investors, journalists, consumers and the broader public. “GIE Media is a highly professional organization with a wonderful team. The Cannabis Conference is a one-of-a-kind event, and we are very pleased to continue our collaboration with GIE as an official media sponsor,” said Cami Cox, director of analytics and reporting for CannabisNewsWire. “This conference is a stand-out event that provides top-class educational opportunities to industry participants, facilitates networking and showcases the very best in technical advancements.”

To view the full press release, visit https://cnw.fm/gP9LH

About CannabisNewsWire (“CNW”)

CannabisNewsWire, one of 50+ brands within the InvestorBrandNetwork (“IBN”), is a specialized information service that (1) aggregates cannabis news; (2) provides CannabisNewsBreaks to quickly update investors in the space; (3) enhances corporate press releases; (4) provides social media distribution via IBN to millions of social media followers; and (5) delivers comprehensive corporate communication solutions. CNW is uniquely positioned in the cannabis market with a strong team of journalists and writers who can help private and public companies reach a wide audience of investors, consumers, journalists and the general public through our ever-growing dissemination network of 5,000+ key syndication outlets. CNW is bringing unparalleled visibility, recognition and content to the cannabis industry.

For more information, please visit 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

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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CannabisNewsWire is part of the InvestorBrandNetwork.

NECANN 3rd Annual New Jersey Cannabis Convention Brings the East Coast Cannabis Community under One Roof

The NECANN Conference has evolved into the largest conference on the East Coast, attracting cannabis cultivators, traders, regulators, lawmakers, and enthusiasts, from the East Coast and beyond. The 3rd annual New Jersey Cannabis Convention is being held from September 9-10, 2022, in Atlantic City, New Jersey.

This is a well-curated event organized by a highly talented team of professionals with desired expertise and experience. They keep in mind the needs and requirements of the cannabis community and bring together investors, young and veteran cannabis and hemp traders, as well as researchers and lawmakers, all in a common forum.

After fighting a tough battle for legalizing both medicinal and recreational cannabis, New Jersey, on February 22nd, 2021, became the fourteenth U.S. state to legalize marijuana completely. Atlantic City has a huge cannabis market waiting to get discovered and tapped by marijuana traders and customers. Also, the city has very limited cannabis dispensary availability to cater to the entire population. The NECANN exhibition will bring the New Jersey cannabis community to the forefront to get discovered by potential investors.

The 3rd annual NJ NECANN event will witness an important lineup of speakers and industry veterans. They will share useful insights about the latest industry trends and discuss important issues covering the entire range of topics under the cannabis spectrum. Exhibitors can set up their respective booths to pitch their businesses. The 3rd Annual NJ Cannabis Convention will be a one-of-its-kind experience, to discover more cannabis communities and exchange ideas and information about marijuana businesses.

The NECANN team brings in cannabis trade investors and entrepreneurs who are interested in novel and fresh business ideas. Budding entities can leverage the reach of the NECANN platform to gain visibility among potential investors. Established in 2014, NECANN events are one of the largest cannabis conventions offering mammoth networking opportunities. The NECANN events attract Hemp, MMJ, and Cannabis industry professionals, to meet and build critical long-term business ties.

The NECANN convention offers a robust platform for local cannabis businesses to showcase their products and services. It allows them to meet the stalwarts of the cannabis community and attract lucrative investments into the developing New Jersey cannabis market. Overall, the event represents a unique opportunity to get in on the ground floor.

The NECANN team works tirelessly to cover every aspect of the cannabis industry ranging from inventory, legal issues, packaging, insurance, regulations, security, from testing to cultivation, marketing, and more.

To learn more, please visit https://cnw.fm/uJif3

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Delighted About Well-Received DehydraTECH-CBD Proposals by the FDA; Maintains Late 2022/Early 2023 Target For Complete IND Application

  • Lexaria’s successful HYPER-H21-2 human clinical study, whose results were announced in the first week of September 2021, laid the groundwork for the company’s patented DehydraTECH(TM)-processed CBD NDA
  • Chris Bunka, the company’s CEO, referred to the results as “statistically significant,” ultimately kickstarting the IND application process with the FDA
  • Lexaria has since received a full written positive response from the FDA on its DehydraTECH-CBD, agreeing to the company’s proposal to pursue the 505(b)(2) NDA regulatory pathway
  • As a result of the favorable FDA response, Lexaria expects to remain on track to file its full IND application, 6-9 months sooner than if the FDA had required modifications in Lexaria’s current IND-enabling work plan, and Its management is confident that maintaining the current trajectory could allow the company to achieve $1 billion per year in the hypertension market, even making it one of the most effective registered pharmaceutical treatments for hypertension in the world

In the first week of September 2021, Lexaria Bioscience (NASDAQ: LEXX) announced its most recent results, at the time, from its HYPER-H21-2 human clinical study on the overall effectiveness of its patented DehydraTECH(TM)-processed CBD on blood pressure. The successful study would play an integral role in the company’s eventual New Drug Application (“NDA”), with Chris Bunka, the company’s Chief Executive Officer (“CEO”), terming the results as “statistically significant” (https://cnw.fm/X9wKM).

The success of multiple human studies investigating DehydraTECH-CBD for hypertension prompted Lexaria to formally announce the process of an Investigational New Drug (“IND”) application filing with the United States Food and Drug Administration (“FDA”) to list DehydraTECH-CBD as a prospective registered pharmaceutical treatment for hypertension.

Lexaria has since received a positive full written response from the FDA regarding DehydraTECH-CBD, with the institution confirming that it agreed to Lexaria’s proposal to pursue a 505(b)(2) NDA regulatory pathway that would hasten the process of commercial approval for its product (https://cnw.fm/Ledb3).

“We are very pleased to have received comments from the FDA toward opening our IND program, and we will be executing FDA-confirmed IND-enabling work immediately,” noted John Docherty, the President of Lexaria.

“We were delighted that our proposals were very well received by the FDA, and the feedback received will be very helpful in compiling and filing our IND application as the new major regulatory step we are focused on moving forward,” he added.

The FDA’s communication also noted that additional non-clinical studies would not be required before initiating the DehydraTECH-CBD IND program, particularly given compelling data already presented by the company and others regarding the safety and tolerability of CBD. 

Lexaria is confident that the approval will go through, especially since the FDA already has a history of approving CBD pharmaceutical treatments. In 2018, this approving body gave the green light to Epidiolex(R), a CBD-based pediatric anti-seizure medication. In the approval, they noted that the approved dosage rate for a child weighing 28kg was 140mg, increasing to 280mg daily for long-term use. Lexaria looks to build on this to push for its DehydraTECH-CBD, hoping to offer a viable solution to millions of people living with hypertension.

With the FDA response, Lexaria expects to remain on track to file its complete IND application by late 2022 or early 2023, maintaining the initial targets announced. In addition, given its move to go with the 505(b)(2) pathway as opposed to 505(b)(1), the company looks to shave 6-9 months off of the approval process, bringing its product to the market a lot sooner.

When discussing previous results from the hypertension study, Mr. Bunka noted:

“If we sustain these results, we could be looking at mega-drug status ($1 billion per year) in the hypertension market.”

“Our goal now is to put together a 4-week study, three doses per day, targeting a sustained drop in blood pressure. That could make us one of the most effective registered pharmaceutical treatments for hypertension in the world, with few if any unwanted side effects,” he added.

This outlook shows Lexaria’s commitment to creating shareholder value, even as it inches closer to offering a viable solution to people living with hypertension. In addition, its commitment to following due process to receive FDA approval reflects the company’s and management’s clear vision and understanding of what it would take to grow the list of product offerings and offer something unique in the market. 

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 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)
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www.CannabisNewsWire.com
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Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Influential Nonprofit Says Federal Cannabis Bill Insufficient to Fix Harms of Drug War

The war on drugs was ostensibly started to mitigate drug addiction rates in the country and deal a blow to the criminal enterprises behind the illicit drug trade. However, most experts agree that the decades-long drug war was a failure, leading to the arrest and incarceration of tens of thousands of people on minor drug charges. Furthermore, the drug war exacerbated racial and economic inequality in the country and caused nigh-irreparable damage to marginalized communities.

As cannabis reform has swept across America, most activists and lawmakers have championed cannabis legalization measures that contain social equity provisions designed to repair the harms caused by the drug war. This includes funding various community programs and giving people from marginalized communities a leg-up in the cannabis industry. Senate Majority Leader Chuck Schumer, an avid supporter of cannabis reform, recently introduced a federal marijuana legalization bill that also contains social equity provisions.

However, a major racial justice nonprofit believes that the federal cannabis bill is not sufficient enough to even begin alleviating the racial harms caused by the decades-long prohibition. After reviewing cannabis laws in the United States, the NAACP Legal Defense and Education Fund (LDF) said that waiting for congress to pass cannabis reform would do little to address the racist consequences of the drug war and urged voters in states with cannabis legalization in the fall ballot to come out and vote in favor of legalization.

Schumer kept the country waiting for months as he delayed unveiling his Cannabis Administration and Opportunity Act (CAOA) several times. But now that the legislation has been filed, advancing past both houses of Congress and being signed into law will be a challenge. Additionally, the federal legalization bill won’t be able to help people with cannabis offenses on their records since most of these convictions occurred at the state level.

Simeon Spencer, the operations associate for NAACP LDF’s Thurgood Marshall Institute says that decriminalization as well as expungement on the federal level will offer little benefit to people whose convictions were made under state marijuana regulations. Titled “Redressing America’s Racist Cannabis Laws,” Spencer’s review notes that cannabis criminalization was based on racism and xenophobia, stating that officials outlawed cannabis decades ago to keep Mexican immigrants and Black cultural movements in check.

Media propaganda about Mexican immigrants smoking marijuana was a major contributor to states individually banning cannabis in the following years. According to the NAACP LDF, plenty of Black Americans are currently serving life sentences for cannabis offenses even though the drug is now a multibillion dollar industry. Spencer writes that both the federal governments and state governments will have to work together to adequately mitigate the systemic racial inequalities in cannabis policy.

As those prohibitionist policies are rolled back, a chance could be created for companies such as Advanced Container Technologies Inc. (OTC: ACTX) to serve more people with their innovative products such as the micro gardens transforming the way marijuana and other crops are grown indoors.

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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CNW420 is part of the InvestorBrandNetwork.

420 with CNW — State Data Says Michigan Cannabis Sales Broke Monthly Record in July

The Cannabis Regulatory Agency in the state of Michigan recently published data showing that the state set a new record for cannabis sales last month. The state reached almost $210 million in total marijuana sales, recording more than $188 million in adult-use cannabis purchases and more than $21 million in medical marijuana sales in the month of July.

This total is almost $15 million higher than the previous record the state set earlier in the year. The majority of the cannabis purchases for both recreational and medical use were for flower products, with vape cartridges coming in second. The data also demonstrates a continuation of a sales trend in the state’s cannabis market, with medical marijuana purchases dropping while adult-use sales grow. The first recreational shops were launched in the state in December 2019.

Meanwhile, regulators in the state also announced that they were awarding grants to support studies into the therapeutic benefits of cannabis for military veterans. They plan to use the tax dollars generated by the state from adult-use marijuana sales to do so. The Cannabis Regulatory Agency revealed that it had recommended issuing $20 million in grants to two universities as part of the Veteran Marijuana Research grant program.

Earlier in March, officials in the state had announced that Michigan would be allocating almost $150 million in cannabis tax revenue to be divided between a transportation fund, public schools and localities. The Department of Treasury in the state revealed that the funding included about $42 million for 53 counties, 33 townships, 15 villages and 62 cities. The figure is significantly higher than the funding the state paid out to municipalities with tax revenue generated in 2021.

Last year, the state of Michigan recorded more than $481 million in medical marijuana sales and a little over $1.3 million in cannabis purchases for adult-use marijuana. In December alone, roughly $33 million in medical cannabis sales and more than $135 million in recreational marijuana purchases were recorded. In addition to this, state regulators revealed earlier in the year that they had named Hazel Park as the first approved social consumption site for adult-use cannabis in the state. It is expected that as that segment of the cannabis industry grows, more tax revenue will be generated.

The state of Michigan isn’t the only one recording significant cannabis sales in the country. For instance, the state of Massachusetts recently recorded $3 billion in adult-use cannabis sales. The state launched its market in 2018.

The cannabis tax dollars being invested in helping the communities worst affected by the racist/discriminatory enforcement of prohibitionist laws shows how much licensed companies such as Prime Harvest Inc. can be a force for good when an environment is created to let them operate and thrive so that the taxes generated from their operations can help rebuild communities in their areas of operation.

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

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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CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Advanced Container Technologies Inc.’s (ACTX) GrowPods Ideally Poised to Turn Tide Against Food Insecurity

Advanced Container Technologies (OTC: ACTX), the exclusive U.S. distributor of GrowPods, environmentally controlled micro-farms that allow cultivation of ultra-clean crops all year long, believes its products may be part of the solution to eradicate food insecurity and malnutrition. The World Food Program’s (“WFP”) vision for 2030 “calls for the world to eradicate food insecurity and malnutrition and for national and global actors to partner together to achieve several goals, including providing access to food and sustainable food systems. According to WFP, turning the tide against hunger includes, in part, ‘sustainable consumption and production to reduce food loss and waste,’” a recent article reads. “ACTX’s GrowPods appear ideally aligned to these essential initiatives. Modular, stackable and mobile vertical growing environments, these game-changing micro-farms are designed to maximize yield and automation. Made from fully insulated, food-grade shipping containers, GrowPods have been modified to create an optimum controlled environment for growing a wide range of horticultural and agricultural products in a variety of environments and climates… ACTX is pleased to join the efforts to make food sustainability both a priority and a reality by offering a way to produce multiple high-yield harvests every year with no pesticides and using fewer resources.”

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

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.

CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Announces Progress on DLC Acquisition, Secures New Financing

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company, today updated its recent announcement of the proposed acquisition of Diagnostic Lab Corporation of Englewood Cliffs, New Jersey (“DLC”), a diversified food and agriculture safety company, as well as announced the recapitalization of the company. According to the update, Grapefruit is finalizing its due diligence on DLC and is in the final stages of negotiating the terms of its anticipated financing and structuring of the transaction documents, all of which it expects to complete in the next several weeks. “We are providing this update at this time to inform our many loyal shareholders that the company is making significant progress with respect to the DLC acquisition, despite the challenging current macroeconomic environment and its influence on capital markets,” said Bradley J. Yourist, Grapefruit’s CEO and co-founder. “Despite these potential distractions, Grapefruit’s management, staff and outside professionals continue to work very efficiently together to ensure a successful acquisition of DLC as the next event in the company’s evolution to a wellness-driven, medical science-based, canna-focused biotech company.”

To view the full press release, visit https://cnw.fm/4yQNL

About Grapefruit USA Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs. For more information about the company and its operations, visit www.GrapefruitBlvd.com.

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
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303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Alcohol vs. Marijuana: How These Industries Are Coping with Inflation

Many often look at the alcohol industry as a way to get ideas about the trajectory that the nascent marijuana industry could take, and this comparison couldn’t be more necessary at this time when inflation is soaring, and different sectors are reeling. Let’s take a look at these two industries to see how exactly they are being impacted by inflation and how they are coping.

As you may be aware, alcohol is legal at the federal level and can be bought in a variety of places, including restaurants, bars and even convenience stores. This varied access somehow provides a cushion for customers to access the product while being pocket wise. For example, someone who could have taken several beers at a bar may decide to purchase a six-pack at a store and consume the beer at home.

The person will still drink as many beers as they usually do, but the unit cost may go down because they changed where they source the beer. This doesn’t mean it is all sunshine and smiles for the alcohol industry because prices are rising in different segments and manufacturers are reeling under the supply chain issues that have come at a time when inflation is surging.

In contrast, marijuana is still prohibited federally and can only be bought at licensed dispensaries or retail outlets in the states where the substance was legalized. You may think that this exposes marijuana consumers to the immediate effects of inflation, but the reality is that cannabis prices have been declining in several states as more players enter the industry and competition stiffens.

However, that doesn’t mean the industry isn’t feeling the pinch resulting from inflation. For now, companies are using different methods, including reducing product variety and laying off staff, to keep their operational costs from skyrocketing. Neither of these mechanisms is ultimately good for the consumer because fewer products mean that a time will come when those carrying what you want will increase the price, and you will have no alternative source for the same product. As for job cuts, you know what that means for the local economy.

As prices of inputs, such as fertilizers, keep rising, a time will come when marijuana growers have no choice but to adjust their prices in order to remain in business. When that happens, the most price-sensitive buyers may find themselves in a tight spot as prices increase across the board. This could have serious ramifications for patients who depend on medical marijuana to manage their health conditions.

At the moment, different industry players such as Cannabis Strategic Ventures Inc. (OTC: NUGS) are implementing their own coping mechanisms while shielding the customer, and it remains to be seen how far these can go before the customer is called upon to bear their share of the burden caused by the current inflationary environment.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

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 — Another Push Is Underway in Florida to Legalize Recreational Cannabis

Floridians could be able to purchase and use recreational cannabis legally in the next few years if a proposed constitutional amendment that was filed last week is successful. Backed by country-music duo the Bellamy Brothers and Trulieve, currently the largest medical-cannabis operator in Florida, the measure would legalize the use of recreational marijuana by people aged 21 and older.

The Tallahassee-based medical marijuana operator contributed $5 million to help get the constitutional amendment to the 2024 ballot. The measure is also expected to receive support from other multistate medical cannabis companies. The proposed amendment was filed on Monday at the Florida Division of Elections and would allow the possession, purchase, and use of cannabis and cannabis products for nonmedical use.

Voters in Florida legalized medical marijuana via a constitutional amendment in 2016 after a failed attempt in 2014. The 2014 constitutional amendment failed to advance because it required at least 60% rather than a simple majority to receive approval. Soon after the 2016 amendment passed, Florida lawmakers launched a vertically integrated system that allowed companies to handle one or more stages of production.

However, this vertically integrated system has been criticized for significantly increasing operational costs and locking out small entrepreneurs who don’t have access to large capital. If the new constitutional amendment, dubbed the “Adult Person Use of Marijuana” is passed by voters, lawmakers will have to figure out how to structure the industry. Activists behind the measure will have to collect around 900,000 petition signatures to qualify for the 2024 ballot.

Backers believe the measure will meet the Florida Supreme Court requirements even though past adult-use cannabis initiatives have failed to advance. Kim Rivers, the CEO of Trulieve, says the proposed amendment is all about increasing access to cannabis in the state. She says that Trulieve, which currently runs around 119 medical cannabis dispensaries, is looking to increase access to safe, high-quality cannabis products that can give people more control over their medical journeys.

News Service reports that the amendment would allow the cultivation, processing, manufacturing, selling and distribution of cannabis products at medical cannabis treatment centers. According to musical duo the Bellamy Brothers, Florida is now ready for recreational marijuana. In an email to News Service of Florida, members of the group said that they have seen the benefits of marijuana as they traveled the country. The Florida natives have a ranch in Pasco County, and they have already partnered with Trulieve to produce a line of marijuana products.

As more states seek to legalize recreational marijuana, companies such as Flora Growth Corp. (NASDAQ: FLGC) will have a larger pool of potential markets to choose from when expanding their footprint across the country and beyond.

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

About CNW420

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

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

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

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

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

CNW420 is part of the InvestorBrandNetwork.