420 with CNW — Cannabis Flower Still Rules US Market, But Dominance Is Waning

Flower is the largest category for cannabis products on the U.S. cannabis market. However, its influence is slowly waning as the shift in demand for adult-use products grows.

Recent sales figures from Headset, a research institute based in Oregon, reveal that the prices for flower are dropping in Colorado, California, Michigan, Oregon, Nevada and Washington state. Data shows that the price per gram of flower dropped in the six states by 14%. In January, the flower fetched around $6.78 per gram, dropping to $5.82 in December. The market share in those six states grew from about $5 billion in 2020 to almost $5.5 billion in 2021.

However, the overall market share for flowers fell. According to Cooper Ashley, the senior data analyst at Headset, the 11.5% rise in flower sales was lower than the 18% increase in overall marijuana sales. By contrast, pre-rolls experienced about a 39% increase with sales figures revealing that the market share grew from about $1 billion in 2020 to $1.4 billion in 2021. Within the same period, the share for edibles increased by 20.4% going from about $1.1 billion to $1.4 billion.

As more products arrive in the markets and growers develop their facilities, the overall prices for flower continue to decrease. The cannabis flower was the third product to experience the slowest growth after tinctures and sublinguals, which decreased by 7.5%, and topicals, which increased by 2.5%.

The buying habits of consumers have shifted in the more established markets. Marijuana retailers report that there is less attention for potency but more of the plant’s terpenes and the other minor cannabinoids. Moreover, the consumer purchases of the cannabis flower vary across the markets. According to Ethos Cannabis, a marijuana production company based in Philadelphia, the buying habits of consumers in the East Coast are influenced by the THC concentration. Ethos Cannabis VP Mike Bibbey said that potency is the primary reason that drives purchases. He said that the most popular flowers are the ones with 25% or higher THC concentrations.

As the market matures, consumers become more knowledgeable and are able to differentiate between products. According to Falcon Brands, a California-based cannabis company, mature markets attract more competition, which makes quality a decision driver. According to the company’s CEO, Steve Gutterman, high-quality flowers are not affected by the drop in prices because consumers will be willing to pay more for terpene and cannabinoid content. He predicts that high-quality flower will cost almost $2,000 a pound, which is slightly lower than in 2021.

The demand for flower with high potency is seen in Canada. According to cannabis company Cannara Biotech, flower with as high as 30% THC “fly off the shelves” with the prices falling from C$2 a gram to C$1.

Sector players such as Cannabis Strategic Ventures Inc. (OTC: NUGS) are aware of these changes in customer preferences, and the industry is seeing a burst of innovation aimed at addressing those evolving customer needs.

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 — Schumer Urges Senators to Provide Input on Cannabis Legalization Bill

Senate Majority Leader Chuck Schumer is urging fellow legislators to give input on the provisions of a measure to federally legalize cannabis. In a letter addressed to fellow legislators, Schumer, Sen. Cory Booker and Senate Finance Committee Chairman Ron Wyden explained that the continued prohibition of cannabis at the federal level hindered the states’ ability to make their own decisions about marijuana. The letter noted that as more states moved to legalize marijuana for both medical and adult use, the federal government had a crucial role to play. They added that hundreds of millions of people in America lived in states that had legalized marijuana in some form, despite it being illegal at the federal level.

The Senate Majority Leader has faced criticism from advocates about how long it’s taken for the bill to reach this stage. However, during a recent press conference, Schumer announced that he planned to formally introduce the bill in April. The bill, called the Cannabis Administration and Opportunity Act, aims to ensure that the federal government matches the advancements made in various states across the United States.

The measure will allow individuals to petition for resentencing, expunge prior convictions, federally deschedule marijuana, eliminate collateral consequences for individuals who have been criminalized because of cannabis and maintain the authority of states to set their own cannabis policies. The measure will also impose a federal tax on cannabis products. Most of the revenue will be allocated to grant programs that support individuals from communities that were most affected by prohibition and who would like to take part in the flourishing industry.

In addition to this, the bill will transfer regulatory authority over marijuana to the U.S. Food and Drug Administration, the Alcohol and Tobacco Tax and Trade Bureau and the Bureau of Alcohol, Tobacco, Firearms and Explosives rather than the U.S. Drug Enforcement Administration.

Late last year, the Senate Majority Leader highlighted that he was focused on keeping major players in other industries out of the cannabis industry in order to create opportunities for smaller operators when marijuana was federally legalized, noting that his measure would help to do just that. He also emphasized that his reform measure would take the necessary steps to ensure that big tobacco and alcohol companies didn’t overtake the industry.

When discussing the letter to his colleagues on the Senate floor last week, Schumer also emphasized the need to create opportunities for small businesses and entrepreneurs to legally pursue new opportunities, adding that the comprehensive federal marijuana bill would help actualize this goal.

The entire cannabis industry, including entities such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), will benefit once Schumer’s efforts bear fruit and marijuana policy is reformed at the federal level.

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420 with CNW — Congress Briefed on Federal Courts’ Varying Interpretations of Marijuana Clause

Lawmakers in Congress have been briefed on a report that shows the varying interpretation of a medical marijuana protection rider.

Since 2014, Congress has included provisions in appropriations acts that exclude the U.S. Department of Justice (“DOJ”) funding from being used to prevent states and jurisdictions from enforcing medical marijuana laws. The provision, which is renewed during every financial year, lists a total of 52 jurisdictions and prevents the Justice Department from taking legal actions against these territories.

A new report, released on Feb. 4, 2022, from the Congressional Research Service (“CRS”), reveals how federal courts have varyingly interpreted the provision. The report discusses in detail the appropriations rider and analyzes its interpretations by courts.

The report includes cases that have played out in the U.S. Court of Appeals for the Ninth Circuit and First Circuit where defendants have brought up the rider before trial, “seeking the dismissal of their indictments,” but the courts have declined to apply it outside the context of the initial criminal prosecution. The U.S. Court of Appeals for the Ninth Circuit interpreted that the provision had no effect on a federal court’s power to restrict the use of medical marijuana as a trial case.

In a 2016 case, judges determined that marijuana-related activity was deemed illegal if the individuals did not strictly comply with all state-level marijuana regulations. As a result, their criminal prosecution would not violate the rider. Through this reasoning, the Ninth Circuit prosecuted two individuals who were smoking while processing medical marijuana cards in a legal state. In the case titled United States v. Evans, the courts found that their personal use of marijuana did not comply with the state’s regulations of being “qualifying patients” and thus continued to face prosecution.

The scope of the appropriations riders was also considered by the First Circuit Court this year in the case United States v. Bilodeau. The judges found that the defendants had violated state law regulations by supplying large quantities marijuana to people who did not qualify as patients under Maine law. The defendants were registered with the state to produce medical marijuana, but the DOJ found that it was in violation of the state’s laws through the excessive distribution, which included other states.

The DOJ urged the court to apply the Ninth Circuit’s reasoning of strict compliance after the defendants sought to invoke the appropriations rider. The court rejected the defendant’s reading stating the defendant’s activities were aimed at supplying to individuals whom the defendant had not thought through and weren’t qualified as patients under Maine’s state laws. The courts also turned down the Ninth Circuit’s reasoning. It noted that the contents of the rider did not require strict compliance with state law and a federal conviction would prevent Maine’s state law from having its intended effect.

It remains unclear whether the differences in reasoning will make a practical difference in federal prosecutions. The report concludes with considerations for Congress. One option involves Congress amending the rider to determine if strict compliance with state regulations is a requirement to stop prosecution under the federal government.

These different ways of interpreting the spending rider illustrate how much trouble multistate operators such as American Cannabis Partners have to go through to avoid running afoul of any laws, including federal ones, in the jurisdictions where they operate.

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CannabisNewsBreaks – American Cannabis Partners Leveraging Multi-Sectoral Positioning to Tap into Growing Market

American Cannabis Partners (“ACP”), a sustainable Jamaican experience canna-business innovator, is positioning itself to benefit from the projected growth in the legal cannabis market. “‘Sales from cannabis were $20 billion in 2020 and are expected to exceed $26 billion in 2021. Research conducted by Cowen and Company reveals the legal cannabis market is bound to grow 20-30% per year to the price of $50 billion by 2026,’” reads a recent article quoting a Forbes report. Separately, and as noted by CNN Business, the cannabis industry in America is flourishing; “‘Sales hit $20 billion in 2020 and are on pace to top $26 billion this year and projected to leapfrog to $45.9 billion in 2025.’” These projections bode well for American Cannabis Partners, which is a fully licensed, large-scale, 100% organic cannabis cultivation company. “The company is positioning itself in four sectors of the cannabis space: real estate, cultivation, medical research and nonprofit groups… The company is currently operating in two states — California and Michigan — with a total of 12 cannabis licenses, including 20,000 square feet of cultivation licenses in California and 540,000 square feet of cultivation licenses along with a retail license in Michigan.”

To view the full article, visit https://cnw.fm/Dm3B3

About American Cannabis Partners

American Cannabis Partners is a fully licensed, large scale and 100% organic cannabis cultivation company nationally headquartered in Trinity County of the Emerald Triangle. Guided by business professionals and cultivators, the company focuses on four industry segments: real estate, cultivation, medical research, and nonprofit groups. For both medical and recreational, American Cannabis Partners supplies multiple forms of raw product at wholesale prices for manufacturing, distribution and retail licenses. Its commodity pricing model enables stable profit margins for customers, aiding the company’s expansion into multiple states. For more information, visit the company’s website at www.ACPFarms.com.

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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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420 with CNW — Factors Hindering Research on Medical Marijuana

The number of states legalizing cannabis for medical and recreational use is growing in the United States. This comes as cannabis product marketing increases, more companies enter the flourishing market and the call for the federal prohibition on cannabis to be removed grows.

However, while more research on the therapeutic use of the plant is conducted, many universities and states are finding it hard to carry out as much research on marijuana’s clinical applicability as they want to because of the various hurdles that hinder progression of clinical studies. For instance, the DEA has strict licensing regulations for providers to dispense marijuana and complex requirements for securing marijuana product at the institution carrying out the clinical trials.

Additionally, the government restriction imposed on the marijuana supply researchers conducting studies can use has been a huge obstruction. Since the late 1960s, scientists have only had one supplier of marijuana — the University of Mississippi — which was the only facility contracted by the National Institute of Drug Abuse. This facility wasn’t supplying the full range of products being used by consumers, which slowed the progression of clinical trials involving the use of marijuana and delayed publishing of evidence-based data establishing safety and effectiveness parameters.

It wasn’t until recently that the Drug Enforcement Administration announced that it planned to approve more domestic manufacturers, after decades of calls to do so. This, researchers believe, will be a game changer for marijuana-related research. This is because studying different strains will allow researchers to know exactly what’s inside each strain, particularly because the marijuana products consumers are obtaining from dispensaries are more potent and diverse than marijuana of the past.

Researchers also hope to conduct more research into THC and whether it makes a treatment more effective; they plan to do this once they are allowed to use and carry out research on a variety of products. THC (tetrahydrocannabinol) is one of the two primary compounds found in the cannabis plant, the other being CBD (cannabidiol). Unlike THC, which has psychoactive properties that induce a high when consumed, CBD doesn’t contain any psychoactive properties.

In addition, researchers hope that having access to a variety of cannabis products will enable scientists to learn how exactly THC and CBD interact with the pain-sensing, inflammatory and endocannabinoid systems in the human body. This type of research will facilitate the development of new and improved treatments and help close the knowledge gap. It should be noted that the cannabis plant contains more than 100 cannabinoids.

Now that more manufacturers have been authorized to begin availing research-grade marijuana for approved clinical trials, the public is likely to learn more about the effects of cannabis products made by sector players such as Flora Growth Corp. (NASDAQ: FLGC) as the years go by.

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420 with CNW — Justice Dept. Considering Measures for Safe Drug Consumption Sites

The Department of Justice (“DOJ”) is evaluating the authorization of harm reduction centers for people to use currently illicit drugs in a supervised environment and receive treatment resources. New York City became the first state to launch safe drug consumption sites in November 2021. Then Mayor Bill de Blasio (D-NY) said that the so-called Overdose Prevention Centers are an effective option in addressing the opioid crisis. According to the AP, the sites have prevented 125 overdoses.

Advocates are eager to hear the federal government’s response in a lawsuit over a proposal that could see the establishment of similar centers in Philadelphia. As the deadline approaches, the Department of Justice says it’s weighing the lawfulness of such centers and discussing appropriate measures for the programs. The federal department told the AP that it is involved with state and local regulators in discussions as part of a strategy to ensure harm reduction and promote public safety.

The pending Philadelphia case had been filed by Safehouse, a nonprofit organization whose mission to provide harm reduction resources was blocked by the DOJ during Trump’s presidency. The department had previously won that case after the courts decided that the facility’s operations would be violating a 10-year-old drug law.

However, with the current involvement of the department under Biden’s administration, lawyers representing Safehouse said that the statement from the federal government signals a

“positive resolution.” The deadline within for the Justice Department to submit its position is March 7, 2022

Meanwhile, Rep. Nicole Malliotakis (R-NY) is opposing these efforts and urging the Justice Department to take action to prevent the creation of such facilities. In November, she expressed her concerns to Attorney General Merrick Garland about New York’s decision to authorize the harm reduction centers. The Republican congresswoman stated that opening such centers would only encourage drug use and further deteriorate the quality of life.

The creation of harm reduction centers or the idea of exploring options to minimize overdose related deaths has received some form of support from government officials. Dr. Rahul Gupta, the White House’s drug czar, recently said that it was important to explore ways to reduce overdose deaths. Xavier Bacerra, the secretary of the U.S. Department of Health and Human Services, supports the supervised facilities, and while serving as California’s attorney general, he was among the top law enforcement officials who filed an amicus brief in support of Safehouse’s plan.

In addition to New York, Rhode Island signed a bill in July that would see the state establish a pilot program for a safe consumption site. Massachusetts considered a similar bill last year. California’s senate passed its own similar bill allowing for the establishment of overdose prevention programs. Other regions in the world that have harm reduction centers include

Canada, Europe and Australia.

If the federal government gives its nod to safe drug consumption sites, it will be one more chink off the prohibition armor, and marijuana sector players such as Cannabis Strategic Ventures Inc. (OTC: NUGS) can begin to hope for the federal-level overhaul of the existing cannabis laws.

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CannabisNewsBreaks – ECGI Holdings Inc. (ECGI) CEO Discusses ‘Defining Transition to Drive Shareholder Value’ in Update Letter

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 issued a letter to shareholders from the company’s CEO William Chung. In the letter, Chung expressed gratitude for ECGI shareholders for their commitment, patience and loyalty as the company undertakes a defining transition to drive value where it sees a strong combination of strategic edge and outsized growth potential. “We will fill in further details in coming communications, but we want shareholders to understand now that we have already taken important strides toward commercial stage operations in the cannabis and cannabinoid space,” Chung stated in the letter. “The cannabis industry is rife with competition, but it is also evolving rapidly, opening up new opportunities and new avenues for disruption. As well as becoming a leading vertically integrated cannabis and cannabinoid company, ECGI is arming itself toward the establishment of a dominant presence in the wholesale and procurement center niche serving cannabis retailers throughout California, and eventually across the United States.”

To view the full press release, visit https://cnw.fm/90Fp5

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, ECGI is continually developing its pipeline of appropriate investment opportunities in its pursuit of being the premier holding company in the legal cannabis industry.

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC), Artos Ltd. Enter Agreement to Expand Offering of Cannabis Products for Israeli Market

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has announced its entry into an agreement with Artos Ltd. to sell approximately 3,600 kg of dried high-THC cannabis flower to Israel from its Cosechemos cultivation facility. Through the agreement, Flora seeks to establish a partnership with the Artos team to expand their offering of cannabis products for the Israeli market to also include oils and, when regulations permit, finished THC and CBD consumer products. The export of the high-THC product is pending the dried-flower checklist from the Colombian government from the 2021 cannabis law update. “As Cosechemos continues to reach full-scale commercial production, our team remains focused on increasing our presence in international cannabis markets through distribution agreements that will serve as a gateway into the markets,” said Luis Merchan, CEO of Flora Growth. “With Artos’ extensive distribution network, this agreement will ensure that safe, high-quality cannabis products are provided to the Israeli cannabis market and offer a valuable source of health and wellness products to the country.”

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

About Flora Growth Corp.

Flora is building a 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 for more information.

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420 with CNW — New Congressional Bill Plans to Raise THC Limit for Hemp

Earlier this week, Rep. Chellie Pingree filed a measure which will make some crucial reforms to the hemp industry, including increasing the legal threshold for THC in hemp products to 1% from 0.3% on a dry weight basis. The measure, dubbed the Hemp Advancement Act, would also address an issue associated with levels of THC for in-process hemp.

Many businesses had raised concerns about the THC limit stipulated under the existing federal statute previously, as the process of extracting hemp could temporarily increase the content of THC in a plant in a way that made them liable for enforcement action.

Under this Congressional bill, in-process hemp wouldn’t be subject to any THC thresholds as long as the final product didn’t exceed 1%. This new 1% limit would include delta-9 THC, which is the commonly known psychoactive component in hemp, as well as variants like delta-10 and delta-8, which aren’t as popular but are still available in markets where marijuana hasn’t been legalized.

The measure would also eliminate a requirement stipulated under the 2018 Farm Bill that the plants can only be tested at labs registered by the DEA. In a phone interview, Pingree stated that there weren’t enough testing facilities for hemp across the country, noting that there wasn’t even one lab in Maine while there were only 2 covering New England.

She explained that laboratories which weren’t certified by the DEA were also capable of testing the crop, adding that removing this requirement would eliminate one obstacle farmers faced, as that hemp was an agricultural crop that only needed to be evaluated for appropriate reasons.

The measure would also eliminate a provision in the 2018 Farm Bill which prevents individuals who’ve been charged with drug-related felony convictions in the past decade from participating in the hemp industry. Advocates have in the past argued that this provision perpetuated racial disparities by excluding individuals from communities which had been disproportionately affected by marijuana prohibition. The congresswoman explained that the ban treated hemp like a controlled substance which wasn’t the case, as hemp was an agricultural crop.

She added that prohibiting individuals using this rule was damaging to people who’d like to take part in the industry, as well as the industry as a whole, given the labor shortage in this market.

The measure is being backed by more than ten major cannabis and hemp groups, including the Hemp Industries Association, Americans for Safe Access and the U.S. Hemp Roundtable.

If these proposed changes are eventually enacted into law, we are likely to see firms like Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) growing at a faster rate due to the easing of some of the rules which were making operations a tad more complex.

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420 with CNW — Veteran Cannabis Lobbyist Unveils New Political Group

Last week a veteran marijuana lobbyist launched a new political action commission (“PAC”) that will push for reforms designed to end federal marijuana prohibition. The Better Organizing to Win Legalization (“BOWL”) PAC will also work with other organizations to support politicians and elected officials who are advancing reforms for marijuana legalization.

Justin Strekal launched BOWL PAC with the aim of encouraging organizations and advocacy groups that are not actively involved to be more proactive in backing efforts for legalization.

Strekal said he intends to reach out to organizations and groups that say they are supporting cannabis legalization but “are not actively engaged.” He aims to bridge that gap by educating the organizations and groups about how to become more involved in demanding reforms.

Strekal is a veteran lobbyist with more than five years as the political director of NORML.

BOWL PAC considers the 2022 elections to be the first challenge it will face. The group is working on a targeted timeline strategically designed to engage with voters. It hopes to convince voters as they head to the polls that through their choice, cannabis “legalization is on the battlefield.” However, details of targeted campaign contributions or financing options have not been disclosed.

The group has launched an online petition demanding President Joseph Biden to fulfill his campaign promise on cannabis reforms, including ending marijuana’s federal criminalization that has seen users face jail time. Despite Biden finishing his first year in office, he has yet to fulfill his campaign pledges. He promised that the federal prohibition of cannabis would be lifted, but laws that put people in prison over minor marijuana offenses continue to exist and be enforced.

The Biden Administration’s failure to follow through with its campaign statements has seen individual states implement marijuana reforms. Toi Hutchinson, CEO of the Marijuana Policy Project, said that the current situation has led to social inequity where individuals in one state can compete for licenses to produce and sell cannabis while individuals in another state are facing criminal prosecutions. Morgan Fox, NORML’s newly appointed political director said the inactions of the Biden administration are a betrayal to the people who voted for the president.

With his new PAC, Strekal aims to offer resources that were underutilized at NORML in supporting efforts calling for social reforms while defeating the detractors calling for marijuana’s prohibition.

The ending of federal cannabis prohibition is likely to usher in a period of rapid growth for sector players such as American Cannabis Partners due to the wider market that will be available to them around the country.

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