CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Reports on 2022 Annual Meeting Voting

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, has released a report on its recent 2022 Annual Meeting and the items that were voted on. The meeting was held on May 31, 2022, at 1 p.m. PT. According to the announcement, 2,927,321 shares of the company were represented in person or by proxy during the meeting; that number comprised 49.2% of Lexaria’s issued share capital as of April 4, 2022, which is the record date of the meeting. All matters voted on during the meeting were passed by a majority. Those matters included electing Chris Bunka, John Docherty, Nicholas Baxter, Ted McKechnie and Albert Reese as directors and appointing Davidson & Company LLP as auditors for the company. In addition, voters approved on an advisory nonbinding basis the compensation paid to executive officers in the 2021 fiscal year and ratified the lawful actions of the directors for the past year.

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

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 25 patents granted and more than 50 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

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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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CWCB Expo Arrives in New York To Offer Greater Networking and Business Opportunities In The Cannabis Sector

CWCB Expo is a leading B2B marketplace for networking within the cannabis community. Become a part of the interactive educational sessions, hold unique product displays, participate in panel discussions, and seek the phenomenal opportunities offered by the CWCB platform. The conference is being held on June 2-4, 2022 as an in-person event for the hemp and cannabis business community in New York.

From discovering the more creative products being showcased to making launch announcements, the CWCBExpo is the center place of all cannabis business. Industry thought leaders and eminent personas of the cannabis arena from New York and around the globe will be gracing the event with their presence. They will share their insights and valuable suggestions that will pave the way for the future of the cannabis business.

The event will also host a spectacular assembly of speakers who will discuss all the important aspects of the cannabis spectrum ranging from regulations to the medical and adult use of cannabis.

The line-up of speakers consists of influential personalities namely:

Tremaine Wright is the Chairwoman of the New York State Cannabis Control Board and a former member of the New York State Assembly. She looks into the regulatory and tax policies regarding medical and adult-use cannabis in New York State.
Gia Morón is the President of Women Grow and the Founder and CEO of GMV Communications. She supervises the company’s operations and strategic partnerships.
New York City Mayor Eric Adams appearance on Friday, June 3rd at 1:30 pm

Some important topics at the conference:

Trends and opportunities in the cannabis and hemp industries
Latest marijuana and hemp investment trends that get the attention of Wall Street
Discussion with experts about the infused, edibles and the consumer packaged goods sector
Discussions by dispensary owners, retailers, and designers about owning and maintaining a dispensary
Licensing & The Illicit Market
Challenges of getting into the cannabis and hemp business and being successful

Attendees can meet the experts and leading exhibitors to interact and foster business ties with each other. The workshop and conference program being held at the Expo are knowledge houses to impart essential information and news about the cannabis industry. The thought leadership hosts will be sharing the stage along with some distinguished cannabis experts. They will cover essential topics like Investing and Industry Progress, Policy and Legislation, Cannabis and Lifestyle, for the three days subsequently.

To learn more, please visit https://cwcbexpo.com/.

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With a Focus on Accountability, Prime Harvest Inc. Continues to Grow as a Leader in California’s Cannabis Industry

Prime Harvest is a California-based tech-driven full-service cannabis corporation focused on direct-to-consumer operations, licensing acquisition, compliance management, and state-wide delivery
Prime Harvest fuses integrity into operations, dedicated to redefining the customer experience, being a force for good within the communities they serve, while building a valuable enterprise
Member of Community Alliance Program (“CAP”), supports education, arts initiatives, and military veteran organizations in local Southern California
Company launched Jaxx Cannabis in 2019, sales increased by 34% in early 2020, hit record 63% gross margin in Q1-2020

From its humble beginnings in 2017 as a cannabis producer in San Diego, Prime Harvest, a technology-driven full-service cannabis corporation, has risen to prominence as a leader in California’s cannabis industry while focusing on enhancing the customer experience, diversity, and giving back to the community.

Prime Cannabis is horizontally diversified across the entire cannabis value chain with business activities focused on direct-to-consumer operations, licensing acquisition, compliance management, and state-wide delivery. The company continues to expand its footprint throughout California with a proven long-term strategy of investing in the growth and scale of licensed assets while leveraging the power of data-driven technology across its operations.

At the same time, Prime Cannabis focuses on community, the environment, and promoting diversity throughout the organization. Led by a team of reputable experts in their respective fields, the company dedicates activities to setting new operational standards that emphasize sustainability, accountability, and community.

As a proud member of the Community Alliance Program (“CAP”), Prime Harvest supports efforts to improve education, provide resources for military veterans, and promote the arts for children and adults in local communities. As an advocate of cannabis access for medical patients, CAP also leads educational initiatives to help explore the healing attributes of cannabis to treat epilepsy, Post-Traumatic Stress Disorder (“PTSD”), cancer, Chronic Traumatic Encephalopathy (“CTE”), chronic pain, and autism.

Since its early beginnings in 2017 as the “Olive Tree Wellness Center” – a patient association serving the San Diego community – Prime Harvest has provided compliant, first-in-class cannabis products and experiences. Hampered by early legislation limitations that impacted San Diego operations, the company spun its strategy to overcome these challenges and maximize the opportunities that came with operating within the particularly conservative and underserved market. As a result, Prime Harvest rebuilt its operations and launched Jaxx Cannabis – its flagship brand and dispensary.

Jaxx Cannabis enjoyed immediate success, particularly as a result of coronavirus mandates that permitted cannabis dispensaries to remain open. As a result, Jaxx Cannabis drove substantial company growth throughout 2020, providing evidence that the industry is resilient to recessions and economic downturns. Sales increased by 34% at the start of 2020, hitting a record 63% in gross margin by the first quarter (https://cnw.fm/rijiw).

Prime Harvest is favorably positioned as a leader in California’s cannabis industry, backed by a strong business strategy and anchored by its commitment to community, diversity, and becoming California’s preferred cannabis retailer. The company’s commitment to accountability is fused throughout its operations as it strives to continue growing financially and providing shareholder value.

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

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

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Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH(TM) Technology Consistently Enhancing the Oral Administration of Active Pharmaceutical Ingredients

A global innovator in drug delivery platforms, Lexaria has developed a patented technology, DehydraTECH(TM)
Through research, Lexaria has evidenced that DehydraTECH enhances the efficiency and speed of orally- administered fat-soluble active pharmaceutical ingredients (“APIs”)
Lexaria is consistently enhancing the delivery of APIs that affect current oral formulations: speed of onset, limited absorption, and low membrane permeability
Lexaria has conducted numerous ground-breaking studies, some of which open up the possibility of fast-acting oral products that avoid the lung diseases and cancers caused by inhalation of combusted molecules common in smoking

Oral formulations account for approximately 90% of the global share of all pharmaceutical formulations made for human use. Statistics also show that about 60% of all established, commercially available small-molecule drug products today and approximately 84% of all best-selling pharmaceutical products are orally administered. Oral drug administration is preferred because it offers numerous advantages over other delivery methods (for instance, intramuscular, subcutaneous, intravenous, and inhalation), not the least of which is high compliance of patients. Additionally, the drugs can be used to offer localized treatment of affected regions within the gastrointestinal tract.

“Despite these advantages, the development of oral formulations presents several challenges, which are mainly attributed to the physicochemical properties of drugs, including poor water solubility and membrane permeability. In addition, the absorption of drugs can be limited by their poor chemical and biological stability, as well as by physiological barriers, including pH, efflux transporters, and metabolic enzymes,” reads a 2021 review article published in the Frontiers in Pharmacology Journal (https://cnw.fm/lq1sW).

In understanding the shortcomings of orally administered drugs, Lexaria is rising to the occasion, developing a drug delivery technology that solves the aforementioned challenges. Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has developed DehydraTECH(TM), a patented technology which enhances the efficiency and speed of orally-administered fat-soluble active pharmaceutical ingredients (“API”).

“DehydraTECH combines lipophilic APIs with specific fatty acid and carrier compounds, thereby improving the way APIs enter the bloodstream while increasing the effectiveness of fat-soluble active molecules allowing lowering overall dosing and promoting healthier oral ingestion methods,” Lexaria explained in its 2021 annual report (https://cnw.fm/7H1hU).

The company began developing DehydraTECH in 2014 and has since strengthened the technology as well as broadened its possible applications. Now, Lexaria’s website notes, the technology “can be applied to many different drugs and other active ingredients such as vitamins in oral formats including tablets, capsules, oral suspensions – and even foods, beverages, and topical preparations.”

Lexaria has also conducted in vitro and in vivo human and/or animal studies that have evidenced the technology’s ability to mask unwanted tastes, improve the speed of onset, increase bioavailability and brain absorption, and lower dosing – thereby reducing drug administration costs – of APIs.

So far, Lexaria has explored how DehydraTECH improves APIs, not limited to, cannabidiol (“CBD”), oral nicotine, and antiviral drugs, with the company describing its oral nicotine investigations as “ground-breaking studies to open doors previously closed to disruptive new technology, including the possibility of potent and fast-acting ingestible products that avoid the lung diseases and cancers caused by inhalation of combusted molecules common in smoking” (https://cnw.fm/Ld3Vg).

In a series of animal studies staggered between 2018 and 2021, Lexaria evidenced that DehydraTECH delivered considerable nicotine absorption performance improvements compared to controls. The technology resulted in faster delivery of the compound, a higher quantity of peak nicotine delivered to the bloodstream, greater bioavailability, and higher brain absorption (as evidenced by high levels of nicotine in the brain). In its latest animal study, whose results the company released last year, Lexaria revealed that DehydraTECH was between 10x to 20x faster in achieving peak delivery of oral nicotine to the bloodstream than controls. It also attained peak nicotine levels that were up to 10x higher than controls (https://cnw.fm/XpqBK). Now, Lexaria is focusing on the human nicotine study, NIC-H22-1, with dosing expected to begin this summer.

The company hopes that the use of DehydraTECH-nicotine pouches –will help avoid harmful outcomes associated with smoking tobacco, a source of nicotine. Tobacco use causes 480,000 deaths (including passive smokers) annually in the United States (https://cnw.fm/FepeX). Globally, tobacco claims over 8 million lives every year, 7 million of which result from direct tobacco use, while about 1.2 million are caused by the inhalation of secondhand smoke (https://cnw.fm/9aFYx).

In its quest to promoting healthier alternatives to traditional orally administered drugs as well as morbidity-causing practices such as smoking, Lexaria is simultaneously tapping into multibillion-dollar industries. Valued at an estimated $5.9 billion in 2022, the global nicotine pouches market is projected to grow at a CAGR of 31% to reach $29.6 billion by 2028 (https://cnw.fm/1F5R0). Similarly, the oral drug delivery market, which was valued at $100.05 billion in 2018, is projected to grow at a CAGR of 6.99% to reach $150.06 billion by 2024 (https://cnw.fm/6Pm1a).

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

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420 with CNW — VA Declines Certifying a Veteran’s Hemp Because of Marijuana’s Federal Status

Last week, the Department of Veterans Affairs rejected an application made by a veteran requesting that his hemp product firm be recognized. In its denial letter, the department stated that the department could not endorse the business because it was involved in products derived from the same genus of the marijuana plant, which would give the impression that a federal agency was endorsing the plant.

This rejection highlights the confusion around hemp’s legal status, which is defined as cannabis sativa L., and its derivatives, which contain less than 0.3% THC under U.S. law. Marijuana products with higher THC concentrations are still classified as Schedule I substances and remain illegal under the Controlled Substances Act.

The company in question, Holistic Serendipity LLC, operates under a native ceuticals licensing agreement. The company, which is owned by Zack Zindler, was seeking certification as a veteran-owned, service-disabled small business. This designation would allow the company to compete for contracts in the federal government.

While some federal agencies allow companies to self-certify service-disabled veteran-owned small businesses, the Department of Veterans Affairs requires that businesses be verified through its Center for Verification and Evaluation. Director John Perkins stated in the letter denying the application that verification would grant the company the ability to use the VA’s veteran-owned business trademark, which would give the appearance that the department was promoting the use of a Schedule I controlled substance.

The letter also made it clear that Native Ceuticals Tampa was a hemp company, noting that, based on online research as well as the documentation submitted, it sold products derived from hemp.

Zindler started his company last year in May. His objective, he said, was to offer alternatives to pharmaceuticals and narcotics for members of the military who were recovering from mental health conditions such as post-traumatic stress disorder or physical injuries. In his statement, the Marine veteran revealed that hemp had helped him regulate and process his emotions as well as helped him manage physical ailments, without side effects or dependency.

Zindler also revealed that he’d applied for a federal contracting program in an attempt to reach more military service members, which required him to seek verification from the Department of Veterans’ Affairs as a service-disabled, veteran-owned small business.

Currently, hemp is legal under federal law and was legalized under the 2018 farm bill. Earlier this year, however, a measure was filed in Congress that would increase hemp’s THC limit to 1%.

It is this kind legal or regulatory confusion that indirectly makes it more challenging for entities such as Advanced Container Technologies Inc. (OTC: ACTX) because potential clients may become hesitant after reading stories such as the one Zindler shares.

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

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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 — Appeals Court Says Delta-8 THC Federally Legal

According to a 9th Circuit Court of Appeals panel, products containing delta-8 THC are legal under federal law. The court ruled that the 2018 farm bill was clear and only restricted delta-9 THC to no more than 0.3% of a product on a dry-weight basis. The panel of three judges agreed unanimously that the law doesn’t mention anything about delta-8 THC, so one cannot claim that the substance is illegal under the 2018 farm bill.

Delta-9 THC, commonly called THC, is the most plentiful of all cannabinoids and it is responsible for the “high” that marijuana users experience. This substance is categorized as a controlled substance falling under Schedule 1 of the Controlled Substances Act. However, delta-8 THC occurs in miniscule amounts in a cannabis plant.

That notwithstanding, the latest cultivation as well as cannabis processing methods make it possible for these minor cannabinoids such as delta-8 THC to be extracted in larger amounts and then further processed into finished products. Since delta-8 THC is also psychoactive although to a lesser degree, the cannabinoid has become popular in jurisdictions where marijuana (and subsequently THC) is still prohibited.

The panel of three judges wrote that although delta-8 THC possesses psychoactive properties, the applicable federal law only singles out delta-9 THC while leaving other derivatives to be accepted as legal. The court then stated that it would not substitute its own opinion for the intent of the 2018 farm bill and if any loophole was created, the matter was for Congress to correct that anomaly.

The court ruling resulted from a lawsuit in which AK Futures, a manufacturer of vaping products as well as e-cigarettes, claimed that Boyd Street Bistro had infringed on its copyright and was marketing counterfeits of AK Futures’ products. Those counterfeits contained delta-8 THC. A lower court had issued a preliminary injunction restraining Boyd Street Distro from continuing to sell those products about which a copyright infringement lawsuit had been filed.

Boyd Street Bistro argued that there was no copyright infringement since delta-8 THC was prohibited federally. The appeals court disagreed and upheld the preliminary injunction against Boyd Street Bistro. Boyd Street also told court that it had sourced the delta-8 THC products from an individual who claimed to be a representative of AK Futures, and now that that individual had sold out the batch, there were no plans to procure any more products under that brand.

Counsel representing Boyd Street insisted that there wasn’t any evidence supporting the view that Congressional intent was in favor of legalizing delta-8 THC. If that were the case, numerous state as well as federal agencies would have taken steps to establish regulations preventing its marketing to minors and ensuring consumer safety.

Many of these conflicts over delta-8 THC are being documented across the country, and many advocates are saying that since plenty of research exists about delta-9 THC, it would be better for the entire marijuana industry and companies such as American Cannabis Partners if the federal government ended marijuana prohibition once and for all. This would potentially dampen interest in delta-8 THC, a compound with limited research done about it.

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

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Launch of JustCBD Products on Amazon.co.uk

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced that its wholly-owned subsidiary JustCBD will be launching its line of Novel Foods-registered CBD products on Amazon.co.uk. Since its entry into the now £700 million CBD market in October 2021, Amazon U.K. has expanded the initial pilot-only program to include vendors who have demonstrated compliance with U.K. CBD Novel Food regulations. Producers awarded U.K. Novel Food authorization must prove the product is safe for consumption and labeled correctly. “With health and wellness playing an increasingly important role in customers’ lives, we are excited to increase the selection of quality CBD products offered to Amazon customers in the U.K.,” said Hussein Rakine, CEO of JustCBD. “The JustCBD team looks forward to working closely with Amazon to expand our product offering to other countries as our partnership and brand presence in the United Kingdom grows.”

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

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the most extensive 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

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CWCBExpo, the Premier B2B Cannabis, and Hemp Expo and Conference to Foster Lively Discussion on Industry Opportunities and Challenges Among Seasoned Professionals and Newcomers Alike

The Cannabis World Congress & Business Exposition (CWCBExpo) will be held between June 2-4, 2022, at the Javits Convention Center, Hall 3A, in New York City. Industry heavyweights, the foremost innovators, and pioneering thought leaders will take the stage to discuss emerging trends in cannabis, hemp, and allied sectors. The expo will provide a high-quality business-focused attendee base located in the premier East Coast US cannabis and hemp market.

The three-day event will feature an Inside the Industry: Thought Leadership Series in an interactive “Talk Show” format. Co-hosts will include Carl Cameron, veteran journalist and former FOX News reporter; Faye Coleman, Founder and CEO of Pure Genesis, cannabis pioneer and entrepreneur Calvin Frye, and Gretchen Gailey, Chief Strategist at CWCBExpo. The Thought Leadership series will address distinct aspects of the sector each day. Day 1, Thursday, will focus on Investing and Industry Progress, Day 2 will address Policy and Legislation, and Day 3 will explore new developments in Cannabis and Lifestyle. The sessions will be educational and relevant to both the local landscape and the national outlook.

The conference program will also feature two keynote conversations with Chris Beals, CEO of Weedmaps, along with Mona Zhang, States Cannabis Policy Reporter, POLITICO, on Thursday, Jun 2; and with Nick Kovacevich, CEO of Greenlane Holdings, along with Tim Seymour, Co-host, CNBC Fast Money.

In addition to the wide array of expert speakers and eminent business people in attendance, the summit will host hundreds of exhibitors showcasing cutting-edge product innovations and the latest services.

The event shall also host a Networking Mixer on Thursday, June 2, from 5 – 7 pm, sponsored by Weedmaps, so that attendees can network or relax ahead of the second day of the conference.

On Friday, June 3, from 6 – 10 pm, CWCBExpo will host the Industry Yacht Party, where attendees can eat, drink and dance with their peers while savoring the majestic New York City skyline. This is a premier networking and deal-making opportunity.

To attend either or both events, registered attendees must purchase a Networking Mixer Ticket or an Industry Yacht Party Ticket. Get your tickets now at the best price! Why wait?

Cannabis Week, anchored by CWCBExpo, will take place from Monday, May 30 to Sunday, June 5, 2022, and will foster collaboration between the entire cannabis industry through industry deep dives, networking events, and lead-generation opportunities. Several events will take place during the week throughout New York City.

To learn more about Cannabis Week, event itineraries, available offers, and discounts, visit https://cwcbexpo.com/cannabis-week

For more information about the CWCBExpo, please visit https://cwcbexpo.com/

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420 with CNW — Pollen Study in Spain Reveals Thriving Illegal Cannabis Grows

A study exploring the concentration of marijuana pollen in the atmosphere in the Spanish city of Murcia has discovered that levels of pollen are increasing in the atmosphere. This is a clear indication that the extent of illicit cannabis farming is trending upwards.

For decades, scientists have been documenting the amount of marijuana pollen present in the air in order to estimate the extent of illegal marijuana cultivation taking place in different cities, including Cartagena, Lorca and Murcia. This trio of cities is of special interest because they are located along the seashore acting as a border between Spain and Morocco.

The researchers were intrigued to discover that, after analyzing the collected pollen, only a small fraction of the pollen could be traced to North Africa. This means that the vast majority of the illicit grows were on Spanish soil and that the country was becoming increasingly less dependent on imported cannabis. Rather, it was now depending on a domestically produced crop to meet the local needs and the needs of the other foreign markets in need of this illicit marijuana.

It was also found that both Lorca and Cartagena were far ahead in the concentration of marijuana pollen detected in the atmosphere. This duo registered in excess of 80 pollen grains in each cubic meter of air. In contrast, Murcia’s illegal grows peaked back in 2020 when the city recorded 66 pollen grains for each cubic meter of air measured.

For comparison purposes, the three Spanish cities logged pollen readings in the range of 19-27 grains per cubic meter back in 2017. This shows that the increase in illegal cultivation activity has been massive over the past few years.

Previously, people only thought of the marijuana clubs around Barcelona when discussions about cannabis use arose. However, the authorities and policymakers are just waking up to the reality that cannabis cultivation and use is widespread across the entire nation.

Consequently, the country is scrambling to find ways to regulate a sector where consumers and their suppliers are ahead of the government. Last year, the country initiated steps to permit the use of marijuana for medicinal purposes. The authorities have also granted four licenses to companies to grow and manufacture pharmaceutical-grade cannabis products. These are exclusively for export.

Strict cannabis laws notwithstanding, Spanish products ranging from CBD products to marijuana products have been found throughout the continent, which explains why recent months have seen widely publicized busts of large illegal marijuana grows. If the country eventually creates a regulated market for marijuana allowing local and international marijuana companies such as Flora Growth Corp. (NASDAQ: FLGC) to operate, scientists will no longer have to analyze pollen collections in order to get an idea about cannabis use.

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

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420 with CNW — Franchising Offers Exciting Possibilities for Marijuana Industry

In November 2020, residents in New Jersey voted to legalize marijuana in the state. The next year, Gov. Phil Murphy signed three legislations on the legalization of cannabis. In April of this year, recreational retail stores in the state opened their doors to the public, making New Jersey the 14th state to legalize and implement the sale of recreational cannabis and decrease the penalties for underage use.

The commission in the state gave approval to a more than 100 conditional licenses for smaller growers and manufacturers. Despite having approval, it may take a year or longer for these operations to begin selling their products.

Franchising may make it easier for those involved in the space to navigate the system with the right product, training and services. Below are a number of ways through which franchising can be good for those involved in the industry not just in New Jersey but across the country.

Better compliance

Many dispensaries in different parts of the country have had to close shop because of infractions. Franchises usually have compliance teams that ensure that your business is up-to-date on regulation.

No supply chain issues

Cannabis plants can’t be transported across state lines because of federal regulations. This means that growers in most states will have to start from square one, which is time consuming.

Franchise systems are focused on obtaining and providing products quickly as well as ensuring the best pricing for the product. They also create standards across every franchise location regardless of the state and ensure quality, which eliminates any obvious issues that may impact the supply chain.

Good marketing strategies

Creating consistency and brand awareness is a top objective for marijuana franchisors. With a franchise, consumers have the same level of quality products and same experience at every location, which helps market a brand well.

Good site location

Franchise systems help businesses identify the best locations for a marijuana enterprise that can bring in a plenty of solid traffic while also complying with local zoning codes.

Conduct training

Marijuana franchises help ensure that a business and its team undergo extensive training to guarantee that the best customer services are provided, along with high-quality products.

At the moment, however, marijuana businesses are primarily still cash businesses as the federal legalization of cannabis is yet to be approved. This is a big issue, especially when one considers that marijuana franchises don’t qualify for small business administration loans, which may make it hard for cannabis companies, such as Cannabis Strategic Ventures Inc. (OTC: NUGS), to look to franchising as a good way to navigate the burgeoning industry.

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

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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.