420 with CNW — Schumer Reaches Out to GOP Senators for Input on Upcoming Cannabis Legalization Bill

Senate Majority Leader Chuck Schumer has made his support for cannabis reform quite clear. Last year he revealed that he was working on a bill that would federally legalize cannabis and he has stated that he would act on cannabis legislation with or without President Joe Biden’s approval. However, efforts to pass some kind of marijuana legislation, whether it is widespread reform or cannabis banking, have been held back by the GOP.

Cannabis legalization is one of the many things Republicans and Democrats can’t seem to agree on. While a lot of Democrats believe that legalizing cannabis would be beneficial for the economy, millions of Americans looking for alternative medical options, and communities that were disproportionately harmed by the drug war, many Republicans are completely against legalizing cannabis.

With Schumer planning on introducing the Cannabis Administration & Opportunity Act (CAOA) to the Senate later this month, he has revealed that he and his colleagues are reaching out to GOP senators for their input on the bill. According to Schumer, he would like to see what the Republican senators would like to include in the bill before he files it near the end of April.

The legislation has been in the works for quite some time now, with the senate majority leader discussing plans to unveil it for longer than a year. Last February, Schumer said that he and his colleagues would be unveiling the Cannabis Administration & Opportunity Act before circulating a letter among lawmakers for input on the bill.

During a recent press briefing, Schumer said that he along with bill co-sponsors Senate Finance Committee Chairman Ron Wyden and Senator Cory Booker have been discussing the bill and are trying to reach out to lawmakers from the right for their input.

Schumer’s comments come just a few days after the House of Representatives passed the MORE Act for the second time. The legislation would end federal cannabis prohibition, launch a commercial cannabis market and try to alleviate the damage caused by the war on drugs. Unsurprisingly, most of the votes in favor of the bill came from the Democrats while only three Republicans approved the cannabis reform legislation.

As it stands, the GOP has repeatedly stood in the way of any federal cannabis reform that gets to the Senate as the left has a slim majority. If Schumer can get enough Republican senators on his side, Congress could finally legalize cannabis at the federal level after decades of prohibition, creating an environment that allows industry actors such as Advanced Container Technologies Inc. (OTC: ACTX) to offer value to people across the country.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Taking Diverse Product Portfolio to New Markets

Flora Growth Corp. (NASDAQ: FLGC) recently announced the successful import of Mambe CBD-containing food and beverage products into the United States from Colombia. The move capitalized on a new law signed by Colombian President Ivan Duque, which provides the necessary regulatory framework for cannabis product use and export. “Our team anticipated this regulatory update and has been laying the necessary foundation to expand this new supply chain pathway allowing Flora to quickly bring our diverse product portfolio and low-cost cannabis inputs to new high-growth international markets,” a recent article quotes Flora Growth CEO Luis Merchan as saying. Flora Growth also recently acquired JustCBD, which has an extensive network of more than 14,000 stores with over 300,000 customers, and, as a result, anticipates expanding Cosechemos-sourced non-psychoactive flower derivatives distribution during the coming months. The acquisition is also expected to boost JustCBD’s expansion from its U.S. base into international arenas. Additionally, Flora Growth announced the entry into an agreement by its Vessel brand with JustCBD-affiliated Speedy Distribution that will introduce Vessel’s vape and dry herb products into traditional smoke shop channels.

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

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 largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. Visit www.FloraGrowth.ca 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

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 – Lift&Co. Expo to Showcase Top-Tier Speakers, Products, Services and Cannabis Industry Innovations

Lift&Co. Expo, Canada’s no. 1 cannabis conference and trade show, will be held at the Metro Toronto Convention Centre next month. The event, slated to take place May 12-15, 2022, will feature top-tier speakers, hundreds of leading exhibitors, giveaways, 420 receptions, live entertainment and more. This year’s expo is expected to bring together more than 10,000 attendees and over 250 exhibitors showcasing hundreds of products, services and cannabis industry innovations. The event will kick off with the Lift Cannabis Business Conference (“LCBC”) on May 12, the premier gathering of Canada’s top business leaders, subject matter experts, innovators and regulators across the cannabis industry. Speakers, presentations and panel discussions will offer leading-edge insight on the most important issues facing Canada’s cannabis business sector today. Thereafter, each of the remaining three days of the Lift&Co. Expo, May 13-15, will feature speakers and special programming staged throughout the expo hall floor.

To view the full press release, visit https://cnw.fm/i5Aqu

About Lift&Co. Expo

Lift&Co. Expo is Canada’s no. 1 cannabis conference and trade show, delivering expert insights and education, as well as the ultimate in business-building networking and an expo floor showcasing hundreds of products, services and industry innovations. All this, plus famous surprises and a-ha! moments. Lift&Co. Expo is proudly managed by MCI Events. To purchase tickets or learn more about Lift&Co. Expo Toronto 2022, please visit https://LiftExpo.ca.

About CannabisNewsWire

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 – Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Beginning of New Nicotine Formulation Creation, Evaluation Program

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, has entered agreements with Altria Client Services LLC. According to the announcement, the agreements call for Lexaria to provide specific DehydraTECH(TM) powder-based nicotine formulations for a fee; Altria in turn will evaluate the formulations. The new agreements will continue through March 31, 2023. Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH, improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. In addition, the technology has shown the ability to increase bioabsorption with cannabinoids and nicotine by up to 10 times as well as decrease time of onset significantly.

To view the full press release, visit https://cnw.fm/VAaZ6

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 and nicotine by 5 to 10 times, reduce time of onset from one to two hours to minutes and mask unwanted tastes. The delivery systems are also being evaluated for orally administered, anti-viral drugs; nonsteroidal, anti-inflammatory drugs (“NSAIDs”); 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 24 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

About CannabisNewsWire

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

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

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

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Colorado Announces Another Round of Cannabis-Themed Auto Registration Plates

In the two decades since California first legalized recreational cannabis, the controversial plant has generated billions of dollars in taxes for states. Recognizing the impact the war on drugs had on Black and Brown communities, several states dedicated a chunk of these funds toward reinvesting in these communities. Additionally, cannabis taxes have also been used to fund programs that offer various kinds of aid.

Despite the controversy that surrounds cannabis, funds raised from marijuana sales have consistently been used to do good. In that vein, officials from Colorado recently announced that there would be a second round of auctions to sell ceremonial cannabis-themed license plates. The funds raised from this round of auctions will be used to fund programs for people living with disabilities.

There will be 22 different license plates on sale, each of them branded with cannabis-related terms such as 420, HASH, BONGWTR and WEED. People will be able to bid on these cannabis-themed license plates until 4:20 p.m. MT on April 20. In a press release, Colorado Governor Jared Polis said that Colorado’s lucrative cannabis industry has allowed the state to finance critical projects as well as programs that aid the disabled community.

Last year, the Colorado Disability Funding Committee received more than $45,000 from the inaugural auction of ceremonial cannabis license plates. The auction in 2021 featured the TEGRIDY license plate, which is named after a fictional cannabis brand in South Park. It generated the greatest interest among bidders and was presented to the creators of “South Park” to celebrate the anniversary of the show.

According to Lt. Gov. Dianne Primavera, this second round of auctions provides a great opportunity to generate grant funding for entities that serve people living with disabilities. For starters, some of the funds raised during last year’s auction allowed Family Voices CO to launch a pilot program to help children living with deaf-blindness.

The auction will grant people the liberty to use the marijuana-themed configuration of their choice. They will also be able to resell the configuration in future with the help of the Colorado Disability Funding Committee. Buyers will be required to cover all standard fees applicable to registration, production fees for the customized license plate, plus any extra fees if they prefer a specially designed background for their license plates.

Polis cautioned against driving while intoxicated, stating that cannabis and driving do not mix well. Operating a vehicle while under the influence of cannabis will impair ability to drive safely and significantly increase chances of being involved in an accident.

This fundraising round is testimony to how much good can result when states create laws allowing licensed cannabis companies such as Flora Growth Corp. (NASDAQ: FLGC) to operate and positively impact different sections of the community, such as the disabled people.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — White House Tight Lipped on Biden’s Views About Approved Federal Cannabis Legalization Bill

Last week, the House of Representatives approved a measure to federally legalize marijuana. However, hours after the bill’s passage, White House Secretary Jen Psaki declined to address whether President Joseph Biden supported this particular measure, instead stating that the president agreed that the country’s current cannabis laws weren’t working.

The House passed the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which is set to advance to the Senate.

Psaki, who was also asked about President Biden’s position on the legislation, stated that the president agreed that the approach to marijuana policy needed to be reevaluated. She then repeated remarks that the president had made on the campaign trail, which included the need to support the safe use of cannabis for medical purposes, conduct more research on the effects of cannabis, and address the systemic inequities and racial disparities in the criminal justice system.

The MORE Act has provisions that support these objectives. Additionally, it will remove cannabis from its classification in the Controlled Substances Act, promote equity in the cannabis industry and levy a tax on marijuana sales to fund a number of programs.

Despite expressing his support for allowing states to establish their own policies on the campaign trail, Biden doesn’t seem to be pro adult-use legalization. Vice President Kamala Harris seems to share the same sentiments, stating in 2021 that the Biden administration was overburdened with other issues and wasn’t focused on following through on its promises on cannabis reform.

The president campaigned on some marijuana reform pledges, such as legalization for medical use, cannabis rescheduling and expungements. However, he has acted on none of them, despite being in office for more than a year. Additionally, he hasn’t publicly commented on marijuana policy since he was elected into office, apart from a dismissive comment he made to a journalist who asked about clemency for federal cannabis prisoners. The lack of action on clemency from the president is particularly discouraging to those who have been calling for the White House to take action on this issue.

The president has also received letters from advocates, legislators, celebrities and those affected by criminalization to do something about the individuals who have been incarcerated based on marijuana charges. However, no action has been taken thus far. This is despite a recent report by the Congressional Research Service, which shows that Biden has the power to grant mass pardons for marijuana offenses.

The report also stated that the Biden administration could move to legalize marijuana federally, without waiting for action from legislators.

As the legislative maneuvers play out, the entire marijuana industry, including established companies such as American Cannabis Partners, will be waiting to see if the long-awaited federal legalization of marijuana finally happens this year.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Hopes to Demonstrate DehydraTECH’s Superior Performance in Ongoing Epilepsy Research Program

Lexaria Bioscience Corp. (NASDAQ: LEXX) recently announced the beginning of the first phase of its epilepsy research program, EPIL-A21-1. “The research program will assess the seizure-inhibiting activity of cannabidiol (‘CBD’) administered via the company’s proprietary DehydraTECH(TM) technology, compared to the only FDA-approved CBD-based seizure medication…. The EPIL-A21-1 research program contains two main studies to be performed in rodents following the first phase – a pilot animal model that has already begun. The main studies are slated to commence in May/June and involve an acute seizure model induced by electrical stimulation and chemically induced seizure models,” a recent article reads. “Using DehydraTECH’s advanced drug delivery capabilities, Lexaria hopes to demonstrate superior performance in the research program. The company expects to achieve significant gains in systemic delivery and brain uptake – which have been evidenced and announced from other studies comparing the DehydraTECH 2.0 CBD formulations with concentration-matched controls. Lexaria believes this could improve therapeutic efficacy for multiple conditions of the nervous system, including but not limited to epilepsy.”

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

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 and nicotine by 5-10x, reduce time of onset from 1 – 2 hours to minutes, and mask unwanted tastes; and is also being evaluated for orally administered anti-viral drugs, non-steroidal anti-inflammatory drugs (“NSAIDs”), 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 24 patents granted and over 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

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 – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Gaining Momentum, Fortifying Vertically Integrated Businesses

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) has so far set base in Michigan, Florida, California, and Illinois, in what marks an aggressive and successful expansion plan. “For the balance of 2021 and throughout 2022, the company will focus on the continued growth of our top-line revenue and bottom-line results through expansion of our house of brands that continue to gain momentum, fortification of our vertically integrated businesses, and the synergies from our M&A success,” a recent article quotes Brad Rogers, the chairman and CEO of the company, as saying. RWB recently announced the acquisition of PharmaCo. “The purchase sees the transfer of 21 medical and adult-use cannabis licenses to RWB. Additionally, the company now has access to eight fully-operating dispensaries, two operational indoor cultivation facilities, one municipality licensed 10-acre outdoor cultivation facility, and 22 owned properties for potential additional cultivation and dispensary locations, among others…. At the beginning of the 2022 calendar year, RWB also closed on a lease agreement for a 15,000 square foot manufacturing/processing and distribution facility in Warren, Michigan…. This move also saw RWB’s expansion of its Platinum Vape products and the strengthening of its human resources….”

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

About Red White & Bloom Brands Inc.

Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Illinois, Oklahoma, and Michigan with respect to cannabis, and the U.S. and internationally for hemp-based CBD products. For more information about the company, visit www.RedWhiteBloom.com.

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

About CannabisNewsWire

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

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

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

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

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

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Analysts Say Marijuana Unlikely to Be Legalized But Banking Reform Could Happen This Year

The past couple of years have been positive ones for cannabis. Dozens of states have legalized recreational and medical marijuana, granting millions of Americans access to a plant that had been outlawed for decades. Furthermore, the state-legal cannabis industry has been incredibly lucrative, generating billions of dollars in sales and creating hundreds and thousands of new employment opportunities.

Despite these successes, cannabis is still criminalized by federal law. Consequently, drug reform activists, industry stakeholders and some lawmakers have been championing federal legalization. Not only would this open the cannabis market even more, but it would also allow the country to start repairing the harms caused by the war on drugs.

Last week, news that lawmakers voted in favor of federal cannabis legislation in the House of Representatives, possibly legalizing cannabis at the federal level, set the industry abuzz. Federal legalization would significant benefits for consumers, businesses, states and even the federal government. However, analysts say there is a slim chance of federal cannabis legalization becoming a reality this year.

Cannabis banking, on the other hand, could pass in 2022. The director of policy research at BTIG Isaac Boltansky is confident that lawmakers will pass cannabis banking this year, stating that it could be attached to legislation such as the China competitiveness bill or the defense bill. It is more likely that we will see a banking bill with some research and restorative justice provisions pass, Boltansky said during an interview with Yahoo Finance Live.

A few days ago, the House of Representatives passed the Marijuana Opportunity Reinvestment and Expungement Act, however, as in 2020, the MORE Act will most likely stall in the Senate where the Democrats have a slim majority. The bill would legalize cannabis at the federal level and allow the cultivation, processing, sale and possession of cannabis products.

Furthermore, the MORE Act would include provisions for the expungement of previous nonviolent cannabis convictions. It would also impose a 5% tax on sales with a portion of the taxes being invested in mentoring, job training, legal aid, substance abuse and re-entry service programs.

The SAFE Banking Act of 2021, which would finally allow state-legal cannabis businesses to access financial services, has already been passed by the House six times. If it gets past the Senate this time, financial institutions such as banks will be able to transact with cannabis businesses without any reprisals from the federal government.

It would make the industry safer by eliminating cash payments and granting cannabis businesses access to a wider pool of capital. Rep Earl Perlmutter, who introduced the SAFE Banking Act, hopes the seventh try will be the charm.

When federal laws are reformed to allow cannabis businesses to access banking services, entities such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) will have fewer security headaches to grapple with since their customers will no longer be limited to cash payments.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

About CNW420

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — House Approves Federal Marijuana Legalization Measure

Last week, the U.S. House of Representatives approved a measure that would legalize cannabis across the country as well as eliminate criminal penalties for any individual who possessed, distributed or manufactured the substance. Legislators passed the Marijuana Opportunity Reinvestment and Expungement (MORE) Act in a 220 to 204 vote. The same act was approved in the House in 2021 but failed to advance in the Senate.

This measure, which was sponsored by House Judiciary Chairman Jerrold Nadler, will deschedule marijuana from the government’s Schedule I classification under the Controlled Substances Act. It will also set up procedures for the expungement of prior convictions from individuals’ records and levy a tax on the sale of marijuana products. This tax will start at 5%, before eventually increasing to 8%.

Funds raised through the imposed tax will be directed to a fund set up to provide youth recreation programs, re-entry services, legal aid, substance-use treatment programs, mentoring programs and job training programs. It will also offer loans to small businesses involved in the marijuana industry. Qualifying companies must be controlled and owned by economically and socially disadvantaged individuals.

In her remarks last week about the legislation, House Speaker Nancy Pelosi stated that the landmark bill was one of the most important criminal justice reform measures in recent history. Pelosi stated that the measure would decriminalize cannabis at the federal level, provide opportunities for individuals to participate in the cannabis industry and deliver justice for individuals harmed by the unfair and brutal consequences of the criminalization of marijuana, so that the grave mistakes of the past wouldn’t be repeated.

The House Speaker also called attention to the changes made at the state level over the past few decades, noting that it was time for the federal government to jump on the bandwagon. Thus far, Washington, DC, and 18 other states in the country have legalized cannabis for recreational use, with DC and another 37 states also enacting laws to legalize medical cannabis. California was the first state in the country to legalize medical cannabis in 1996.

Meanwhile, Senators Cory Booker and Ron Wyden are working with Senate Majority Leader Chuck Schumer to draft a similar legalization measure in their chamber. However, prospects for approving such a measure in the Senate appear to be slim given that Democrats would need every member as well as 10 Republicans to overcome the 60-vote obstacle that is required for the measure to advance to a final vote.

Should marijuana prohibition be ended at the federal level, entities such as Advanced Container Technologies Inc. (OTC: ACTX) will grow a lot faster because of the wider market that will be opened.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.