420 with CNW — NIDA Director Surprises GOP Senator by Asserting Legalization Hasn’t Increased Adolescent Marijuana Use

Last week, a top federal drug official restated that marijuana use among teenagers has not increased in states where cannabis is legal. This astonished a GOP senator, who said that he awaited a different outcome that would be similar to the alcohol-related trends.

The issue was addressed by Nora Volkow, director of National Institute on Drug Abuse (NIDA), during a hearing in front of the Senate Health, Education Labor & Pensions (HELP) Committee. She raised concern on the possible health risks from overall marijuana use.

Through the evidence, she made it clear that the facts did not reinforce the common prohibitionist notion that reforming cannabis regulations increases underage use. Responding to a question posed by Sen. Bill Cassidy (R-LA), Volkow said that an increase in adolescents’ marijuana consumption has not been linked with the drug’s legalization across the U.S. states.

Cassidy was surprised by the response, and he said that when alcohol laws are relaxed there is usually a spike in use by adolescents in that county. He is referring to the alcohol policies where purchases are restricted on certain dates. Last year, the senator helped decriminalize cannabis possession in his state of Louisiana but is yet to legalize commercial sales for recreational marijuana.

The NIDA director said in her testimony of a possible association between marijuana use in young people and rising risks of suicidality. She, however, said that it was hard to determine “causality” and that it would take necessary studies to establish that.

In her testimony, she mentioned that legalization of marijuana raises the concern of negative mental health effects resulting from cannabis use. She mentioned that U.S.-based studies are not finding that many teenagers are using marijuana post-legalization. She notes that contradictory research may come out from different parts of the world.

In recent interviews, Volkow has mentioned her surprise of the survey’s results that legalization does not lead to more young people experimenting with cannabis. However, advocates seem not to be surprised because they have constantly argued that establishing regulated market systems for adult use would mitigate the illegal market and enforcing ID requirements restricts youth access to marijuana.

In 2012 while serving as Colorado governor, Sen. John Hickenlooper (D-CO) unsuccessfully attempted to persuade voters to turn down a ballot initiative that would legalize marijuana. He based his persuasion on the worries that the legalization would encourage more consumption by young people. Recently, he backed down from the claim after data generated within Colorado since cannabis legalization showed that his worries bear no grounds. Hickenlooper found that more elderly residents frequented cannabis shops.

Recently, a report released by the Coalition for Cannabis Policy, Education, and Regulation (CPEAR) also contradicted the claim that creating a regulated cannabis market would increase marijuana consumption among young people.

When top federal officials such as Volkow assert that marijuana legalization hasn’t increased cannabis use by teens, it is a strong statement backing what industry actors such as Cannabis Strategic Ventures Inc. (OTC: NUGS) have always believed that one way to reduce teen use is by creating legal markets for marijuana.

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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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 — UK Attorney Manufactures Wigs from Hemp as Horsehair Wig Alternatives

Last year, a U.K.-based attorney previewed a line of hemp wigs that he would like lawyers in the high courts to start wearing in place of wigs made from horsehair. The attorney, Samuel March, stated that wigs made from horsehair, which have been used for hundreds of years by barristers, could be replaced with hemp-based wigs as they are a more environmentally sustainable and animal-friendly alternative to the former head coverings.

In a recent interview, March explained that hemp was a tough material that would likely not experience issues such as wear and tear, noting that his target market was vegan barristers. March established a company, Hemp & Hemp, to market and distribute the marijuana-based headwear. The company’s website states that it manufactures the first ever vegan-friendly, plant-based wigs for barristers in the world.

While the U.K. government has not been as progressive with regard to cannabis reform, it has embraced the use of hemp in various applications over the years. In the interview, March acknowledged that he wasn’t trying to push his wigs on all lawyers, noting that hemp wigs aren’t for everyone. In addition, he explained that preserving the legal tradition of wearing wigs needed to be made optional for individuals who had Afro hair, those who wore headscarves and turbans, or individuals who felt uncomfortable dressing as a white man circa the 1700s.

March added that not every barrister was male, white and privately educated, which echoes a point made by Leslie Thomas, who criticized the culturally insensitive tradition that requires lawyers to don horsehair wigs in order to appear in court. Thomas, a Black barrister, explained that the wig mandate represented and signified a culturally inconsiderate atmosphere.

This issue is visible in various instances, including one instance when Michael Etienne, who grows his hair in an Afro, was threatened with disciplinary action if he made the decision to not cover his hair using the horsehair wig.

Currently, March’s wig is in its testing phase for interested barristers.

Meanwhile, officials and legislators in other nations have been trying to normalize the use of hemp. For instance, the public transit authority in Berlin offered edible hemp-infused tickets the holiday travel season last year.

In America, the Department of Energy is also funding a project that involves the development of fiber insulation, which has been developed to be better for public health and the environment. Additionally, the Environmental Protection Agency announced recently that it would be awarding a grant to develop sustainable bricks manufactured from industrial hemp.

While cannabis products such as smokable flower made by entities such as Flora Growth Corp. (NASDAQ: FLGC) are the most common, more products can be made using this versatile plant, and the world is gradually being introduced to those other products.

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CannabisNewsBreaks – ECGI Holdings Inc. (ECGI) Approaches Key Strategic Moves in Legal Cannabis and Cannabinoid Marketplace

ECGI Holdings (OTC: ECGI) (d.b.a. Elite Cannabis Group Incorporated), a Nevada-based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, today provided current and prospective shareholders with an update on the company’s operations. “We are working to finalize a transaction to acquire key assets that will serve the purpose of granting us our Major Use License for the upcoming year so we can start our cultivation operations in full,” said William Chung, CEO of ECGI Holdings. Beyond that strategic move, the company is working toward several key acquisitions of intellectual property, talent and tangible operating assets within the cannabinoid R&D and cannabis marketplace. “We believe these steps will further drive our success within our mission of becoming a leading vertically integrated cannabis and cannabinoid company in the United States, focusing on delivering high-grade products that will be easily accessible to our consumers,” Chung said.

To view the full press release, visit https://cnw.fm/za45p

About ECGI Holdings Inc.

ECGI Holdings, dba Elite Cannabis Group Incorporated, is a public holding company focused on creating a diversified shareholding portfolio in the emerging legal cannabis industry. The holding plays an active role in stimulating and guiding the development of its constituent companies, ranging from start-up to well-established businesses. Focused investments are carried out directly or via subsidiaries across all asset classes spanning the entire range of the legal cannabis industry. This includes not only real estate assets in the cultivation and manufacturing sector, but also industry startups and veterans such as delivery, packaging, distribution, extraction, and, last but not least, direct to consumer branding. The company has a long-term investment perspective and prefers to grow organically through acquisitions in fields where the management has significant experience. ECGI maintains close relationships with existing investment structures and funds. This fact, coupled with leadership in entrepreneurship, shows that ECGI is continually developing its pipeline of appropriate investment opportunities in its pursuit of being the premier holding company in the legal cannabis industry.

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.

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420 with CNW — Analysis Shows That Federal Cannabis Prosecutions Continue Downward Trend

The U.S. Sentencing Commission analysis has found that cannabis federal prosecutions decreased again last year, with fewer than 1,000 individuals being charged in marijuana trafficking cases. These marijuana busts make up a little more than 5% of the total drug-related cases that went through the federal justice system last year, which shows that more federal officials have adopted policies that place less emphasis on pursuing individuals over cannabis, especially now as more states move to legalize marijuana.

The report also found that the average sentence for a cannabis trafficking offense was 30 months, which is roughly one-half of the sentence imposed for busts that involve drugs such as heroin, fentanyl and cocaine. Methamphetamine-related charges had the highest average sentence at 90 months, with the report highlighting that nearly one-half of those who faced drug charges in 2021 were for meth trafficking.

The U.S. Sentencing Commission recorded about 1,100 marijuana cases in 2020, which is slightly higher than last year’s figures. In 2019, there was a drop in cases involving cannabis despite the increase in overall federal prosecutions for drug-related crimes. The figures recorded these last three years are significantly lower, especially when compared to 2012’s figures, when more than 7,000 federal cannabis cases were reported.

It was in 2012 that voters in a pair of states approved measures to legalize adult-use cannabis at the ballot. That year, cannabis was at the top of the list of drugs involved in federal cases. Currently, marijuana is at the bottom of that list, which shows considerable progress.

In a statement, deputy director of NORML Paul Armentano stated that the priorities and attitudes of federal prosecutors had shifted as more states legalized cannabis, despite Congress’ failure to amend marijuana laws. Armentano noted that the time had come for federal legislators to codify this change in priorities by de-scheduling cannabis.

Morgan Fox, NORML’s political director, echoed Armentano’s sentiments, adding that despite this drop in federal cannabis prosecutions, the country’s outdated federal laws still had an unnecessary and substantial impact on the lives of real individuals. Fox noted that Congress had an opportunity to change this and called for legislators to end the country’s outdated cannabis prohibition policies and help those who’d been unjustly impacted by them.

This comes as congressional legislators take steps to legalize marijuana at the federal level, with Senate Majority Leader Chuck Schumer planning to introduce the Cannabis Administration and Opportunity Act next month. This bill, as well as another measure sponsored by Jerrold Nadler, chair of the Judiciary Committee, all seek to federally legalize marijuana.

The statistics showing that marijuana-related arrests are declining offers hope that as more states legalize marijuana and entities such as American Cannabis Partners are allowed to operate, social justice will prevail and certain sections of society, such as racial minorities, will no longer be victimized as was the case during the height of prohibition.

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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420 with CNW — Bipartisan Legislators Want Administration to Champion Ending UN Cannabis Ban

Bipartisan congressional legislators recently filed a measure asking President Joseph Biden to urge the United Nations (UN) to end its marijuana ban. This would be achieved by dropping the plant from the list in the international drug treaty of controlled substances.

The resolution was introduced by Rep. Nancy Mace (R-SC) and Rep. Barbara Lee (D-CA) just as the UN’s Commission on Narcotic Drugs (CND) finished its meetings in Vienna. The commission adopted a proposal in 2020 that would take cannabis off the strictest international drug category, the Schedule IV list, while retaining the federal Schedule I classification

The resolution wants the U.S. representative to the United UN Commission on Narcotic Drugs to use the voice, vote and influence of the United States to deschedule cannabis. Furthermore, the resolution also calls on U.S. officials to press the UN to forgive cannabis-related penalties of prior offenders and treat cannabis as an agricultural commodity.

In a press release, Mace said that many countries would be encouraged to deschedule and examine how cannabis is classified if the UN made the resolution. She also talked about the benefits of cannabis in the treatment of medical conditions such as PTSD and epilepsy and how descheduling would support worldwide research of cannabis use in the treatment of numerous conditions.

The United States wants to lead the world in reforming cannabis by having the UN deschedule the substance. According to Barbara Lee, cochair of the Congressional Cannabis Caucus, its classification as a schedule I drug is outdated and needs to be addressed. She also added that research has provided the positive effects of cannabis in chronic illness treatment.

The Drug Enforcement Administration (DEA) has mentioned that the international treaty obligations have played a role in the agency’s efforts against domestic descheduling. However, Biden has not defended his personal opposition to cannabis legalization for adult use. During his campaign, he pledged to move cannabis to Schedule II under the Controlled Substances Act, a promise he has yet to fulfill as well as other reform pledges.

The push for descheduling comes after the UN Office on Drugs and Crime (UNODC) called for an international ban on marijuana advertising last year. Advocates viewed this as a sign that the body was reluctant to embrace the drug’s inevitable widespread legalization.

Also last year the UN’s World Health Organization (WHO) chose not to recommend kratom to be internationally banned after a scientific review. This development was celebrated by advocates who have used the plant for therapeutic purposes such as pain management.

Ending cannabis prohibition on a global scale would enable patients to gain access to the medicinal marijuana products made by licensed companies, such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), since many studies are showing that cannabis possesses therapeutic potential.

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Establishing Competitive Advantage, Verticalizing Operations in Growing Marketplace

Sugarmade (OTC: SGMD) is an emerging leader in the licensed cannabis sector. The company has “set its eyes on expanding its end-market access as a central player in the growing California cannabis delivery marketplace while also developing its in-house cannabis production capacity to verticalize operations in the space,” reads a recent article. “Sugarmade currently operates Nug Avenue, a cannabis delivery service located in the Los Angeles metropolitan area. The location opened in March 2021, and by the end of June 2021, it had more than 10,000 unique members. That growth has continued, and the company now has nearly 25,000 unique members with plans for a second location underway and other locations being explored. In addition, SGMD has implemented new cannabis delivery technology to establish a competitive advantage in its core delivery zone: the Onfleet last-mile solution with Blaze. And Sugarmade is finalizing plans for its first planting at the large 640-acre outdoor cultivation site associated with its recently acquired Lemon Grow subsidiary.”

To view the full article, visit https://cnw.fm/79RD3

About Sugarmade Inc.

Sugarmade is a product and brand marketing company investing in operations with disruptive or hyper growth potential. The company is headquartered in Monrovia, California, a suburb of Los Angeles. Sugarmade’s core strategic plan is centered on expanding its end-market access as a central player in the growing California cannabis delivery marketplace while developing its in-house cannabis production capacity to verticalize operations in the space. Through a combination of organic growth and strategic acquisitions, Sugarmade intends to develop a full farm-to-door vertically integrated cannabis business. The company’s cannabis portfolio includes CarryOutsupplies.com, SugarRush, Nug Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.

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CannabisNewsBreaks – Pono Capital Corp (NASDAQ: PONOU), Benuvia Inc. Enter Definitive Business Combination Agreement

Pono (NASDAQ: PONOU), a publicly traded special purpose acquisition company, and Benuvia, a leading drug developer and manufacturer of active pharmaceutical ingredients focused on cannabinoids, with a growing portfolio of drug products and intellectual property, announced entry into a definitive business combination agreement that will result, subject to the satisfaction or waiver of certain closing conditions, in Benuvia becoming a public company. According to the announcement, Benuvia will apply to be listed on the Nasdaq. “Benuvia has established a strong position in the pharmaceutical cannabinoid market with its intellectual property and manufacturing assets,” said Dustin Shindo, chief executive officer of Pono. “As we were evaluating potential partners, we sought a company that is well-positioned for high growth, that has proprietary technology or competitive advantage, and with public company potential. With the Benuvia team, we believe that we have found an excellent merger partner to help drive long-term value for our stockholders. We are excited to partner with Benuvia on this exciting journey as they become a publicly traded company.”

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

About Pono Capital Corp

Pono Capital Corp is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. In August 2021, Pono Capital Corp consummated a $115 million initial public offering (the “IPO”) of 1.15 million units (reflecting the underwriters’ exercise of their over-allotment option in full), each unit consisting of one of the company’s Class A ordinary shares and three-quarters of one warrant, each whole warrant enabling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Pono Capital Corp’s securities are quoted on the Nasdaq under the ticker symbols PONOU, PONO and PONOW.

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX), Grassfire Distro to Exhibit at CannaCon in Oklahoma City

Advanced Container Technologies (OTC: ACTX), which offers a wide array of products including environmentally controlled transportable cultivation systems, unique packaging supplies, in-demand accessories, and white labeling services, today announced that it will be exhibiting at the CannaCon Conference. The company will participate at the event, slated to take place at the Oklahoma City Convention Center on March 31 and April 1, alongside Grassfire Distro, its exclusive partner for reselling some of its packaging and white labeling products and services. “We had tremendous success at last year’s CannaCon Conference, and we are looking forward to attending again this year,” said Doug Heldoorn, CEO of Advanced Container Technologies. “We have an extensive line of new and exciting products that can help cannabis companies maximize profits throughout the ecosystem — from the cultivator to the retailer.”

To view the full press release, visit https://cnw.fm/v0kbZ

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.

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420 with CNW — How the US Cannabis Industry Weathered COVID-19 Crisis

The cannabis industry has been through a lot since COVID-19 became a global pandemic in March 2020. It was during that year when sales reached record levels and business strategies shifted to accommodate people during lockdown. As many pandemic-related restrictions are being lifted, some aspects of the space, including online ordering, delivery and drive-thrus, seem likely to remain despite not being as widely used.

During the second-half of 2020, most businesses had a fair recovery. Whereas in 2021 according to Scott Lee, CEO of Massachusetts-based cannabis company Theory Wellness, stimulus checks and other programs helped to ensure that businesses remained stable.

When the pandemic hit, Massachusetts closed its adult-use cannabis retailers. Other states, such as Nevada, allowed curbside pickup and delivery. Meanwhile, the mayor of Denver announced the closure of all recreational cannabis retailers only to reverse the decision when queues formed of people stocking up on marijuana. Legal markets, on the other hand, were mostly allowed to remain open during the lockdown period.

Stimulus and employment checks were introduced by the U.S. government in order to maintain money circulation in its economy. This way, businesses could stay afloat and prevent layoffs from occurring. Many people turned to consuming marijuana when restaurants, movie theaters and other recreational centers were closed.

Cannabis sales rose sharply during the pandemic and the lockdowns that followed. According to Headset, a data analytics firm in Seattle, sales made during the week of March 16, 2020, were 38% higher in comparison to the first week of January 2020. The firm tracks six states where marijuana is used for adult-use. It revealed that cannabis sales in Colorado, California, Michigan, Nevada, Washington and Oregon then took a small dip when they went into full lockdown. However, sales rose thereafter in summer and reached a peak in the week of August 31 when sales were 59% greater than the first week of January.

Toward the end of 2020, cannabis sales continued to drop before rising again in spring 2021. From then on, numbers have continued to dwindle gradually to almost prepandemic levels. This is because of the challenges in the second-half of last year that are making their way into 2022. According to Lee, consumers do not have as much money to spend as they didbefore.

Cannabis sales were highly influenced by consumer behavior during the pandemic. As the restrictions are getting lifted, consumer behavior is changing. According to Allie Marconi, senior director of marketing at Sol Flower, consumers are now looking to speak to sales associates in comparison to the pandemic period when businesses relied on e-commerce, which generated 90% of their sales during its peak.

Curbside pickup, on the other hand, is slowly facing a decline. Another key lesson learned during the pandemic was responsiveness. According to Marconi, quick communication was pivotal to the team as well as the shoppers.

With companies such as American Cannabis Partners exhibiting their resilience in the face of an unprecedented pandemic, one can only conclude that the cannabis industry could potentially lift economies during times of hardship.

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420 with CNW — 2022 May Be Great Year for Pharmaceutical Cannabis

Last year was a good year for the recreational and medical marijuana industry, with major pharmaceutical companies entering the medical space. Many believe that this year will be even better for pharmaceutical marijuana, given the strides the industry has taken.

For instance, huge pharmaceutical marijuana mergers and acquisitions deals were sealed last year, including GW Pharmaceuticals’ acquisition by Jazz Pharmaceuticals. which was valued at $7.2 billion. Pfizer also entered into an arrangement to purchase Arena Pharmaceuticals for $6.7 billion while Dermapharma Holding SE purchased C3, Canopy Growth’s subsidiary for about $93 million dollars. In addition to this, Teva Pharmaceuticals also entered into a distribution deal with Cannbit-Tikun Olam.

Companies involved in the recreational marijuana industry also pivoted toward pharmaceutical marijuana applications, with Curaleaf purchasing Emmac Life Sciences in a $286-million-dollar arrangement. Major players such as Tilray-Aphria and Aurora also pivoted toward pharmaceutical cannabis, with most Canadian marijuana firms and multistate operators also recording significant growth in the recreational cannabis market. Even Philip Morris International, a multinational tobacco and cigarette manufacturing company, has shown interest in the pharmaceutical market side with investments such as Syqe Medical.

Additionally, Big Alcohol and Big Tobacco have signaled operational interest in the adult-use market in moves such as British American Tobacco investing in Organigram Holdings and Constellation Brands investing in Canopy Growth.

Towards the end of 2020, the United Nations voted to reclassify marijuana, which enabled cannabis pharmaceuticals to enter the global space. Currently, the potential use for marijuana in pharmaceutical applications is a primary driver for legalization in Europe and is accepted in most parts of the globe now.

Recreational marijuana has also swept through most of South and North America, with some rumblings in Switzerland, Portugal, Malta, Luxembourg and Germany in the European Union. Europe is currently demonstrating the most advancement in pharmaceutical marijuana while Canada and the United States dominate sales in the recreational marijuana market, making up about 80% of the global revenue in the market. However, it has yet to be decided whether medical marijuana applications will become accepted internationally as tested and registered pharmaceuticals that physicians across the globe can prescribe.

The policies imposed on marijuana also present hurdles for the recreational and medical marijuana markets that need to be dealt with, both in the U.S. as well as globally. Despite this, 2022 may be a good year for the marijuana industry as more nations as well as states in the U.S. advance reform policies and pharmaceutical firms make more advancements.

As cannabis pharmaceutical companies grow their footprint in the sector, other industry companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are consolidating their positions in the different states where they have operations as the industry awaits federal marijuana policy reforms.

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