420 with CNW — Research Reveals That Marijuana Can Lower BMI, Reduce Inflammation

According to a new study, including cannabis in your diet and lifestyle can go a long way in reducing weight and fighting inflammation.

Doctors recommend maintaining a healthy weight in order to prevent the disorders associated with obesity. This includes diabetes, cancer, stroke and heart diseases. Systemic inflammation, on the other hand, can lead to fatal ailments including autoimmune conditions, cardiovascular diseases and neurodegenerative disorders. It is relatively unclear how obesity triggers body inflammations. Scientists have said, however, that more weight means that the body has more inflammation while weight reduction leads to less inflammation.

The new study revealed the role of body mass index (BMI) in the anti-inflammatory effects of marijuana. Researchers studied the experience of 712 young people by examining the pathways that connect inflammation to cannabis consumption. The respondents were examined during six biannual visits with BMI and plasma samples acquired during the final visit. The findings suggest that BMI may be biased in demonstrating cannabis effects. The presence of inflammation biomarkers would typically be reduced with cannabis use. According to the research authors, these findings may be helpful in setting up intervention targets.

Other studies have also pointed out that the reason cannabis users might have less risk of inflammation is because they have a lower BMI. Michigan State University (MSU) conducted a study to see if regular cannabis users were inclined to gain weight. The study was conducted between 2000 and 2005 and relied on information from 33,000 U.S. participants above 18 years of age. According to the study, 77% of the subjects had never consumed cannabis, 18% had given up, 3% had begun and 2% were regular users.

The research was more observational than behavioral, and over a three-year period, the study noted that all respondents had gained weight again. Despite cannabis being an appetite stimulant, regular users had less of a weight increase. New users also recorded a lower BMI as well. Meanwhile, only 15% regular users were considered obese in comparison to 20% of nonusers.

According to Alshaarawy, the lead author, the study’s observational approach misses out on examining the behavioral aspects. For example, a cannabis user might be conscious about food intake and as a result have a lower BMI. The research concludes that future studies should integrate that aspect in their future observations.

The use of cannabis in a healthy lifestyle to reduce weight is an efficient way to reduce inflammation. Moreover, this can be achieved by also staying away from refined sugars, fried foods, carbohydrates and soda. In case an individual wants to incorporate marijuana into their diet plan, they need to seek recommendations from a cannabis-friendly medical practitioner.

The full therapeutic potential of cannabis and its products manufactured by marijuana companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) could take years to be fully documented, which is why there is a need for federal policy reforms so that research into this versatile substance can accelerate.

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

About CNW420

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

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420 with CNW — Factors Cannabis Retailers Should Consider When Choosing a Point-of-Sale System

A point-of-sale system enables business owners to keep track of their sales while also accepting payments from their consumers. Buying a system for a cannabis store seems like an easy feat, but it is not. There are a number of factors that cannabis retailers need to take into account when choosing a point-of-sale (POS) system for their store.

POS experts, consultants and marijuana retail designers all recommend that cannabis retailers choose systems with features that support their brand and operations, as well as their business model.

Given that a POS system helps retailers run their businesses, it is important that one considers what tools they need to run their business. For instance, if a retailer plans to run a business via e-commerce, then it is important that they use a POS system that can be integrated smoothly with e-commerce. If a retailer is data-focused, then they will need a system that can offer the data needed to make key decisions.

Christine Foss, director of product at POSaBIT, states that store operations for a business are one of the most important factors to consider when buying a point-of-sale system. POSaBIT is a point-of-sale and payment firm based in the state of Washington.

Foss explained that considering compliance was also important, noting that one’s POS provider needed to stay on top of changing regulations, be it tax laws or purchase limits, because this would help retailers avoid any issues. A system that is aligned with all marijuana regulations and rules also helps business owners avoid possible legal issues associated with dispensary ATMs.

She also added that a program’s ability to control what budtenders can’t and can do at the point of purchase and offer visibility to owners based on every sale was another factor to consider. Mobile systems are also useful for cannabis business owners that make curbside orders, online orders and deliveries. A system that allows a retailer to pull up past transactions by a customer’s name or product type should also be considered, because it supports more engagement with the customer.

Another important factor to keep in mind when choosing the right point-of-sale system for a cannabis business is customer service. When buying a POS system, a business owner should choose a vendor that is reliable and responsive in the event of any issues, and that provides A1 customer service. Unresponsiveness from a vendor may result in consequences that negatively impact a business.

Established marijuana companies such as American Cannabis Partners know that it always pays to be on the lookout for the best POS vendor because the sector is evolving rapidly and what was sufficient a year ago may not cut it three years from now.

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

About CNW420

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

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420 with CNW — College Cannabis Courses Help Industry Train Employees

There is a growing demand for trained professionals in the cannabis economy as more states set up marijuana markets for medical and adult use. Universities, colleges and educational institutes are coming forward with programs that will facilitate this growing industry. These programs aim to connect their graduates with prospective employers.

The U.S. cannabis industry is expected to support more than 500,000 full-time jobs this year. The figure is predicted to rise to 1.5 million jobs in the next three years.

Lake Superior State University is one of the institutions that offer training through a degree in the cannabis industry or an associate degree in cannabis science. The Michigan-based institution has an enrollment of almost one hundred students, most of whom are in their late twenties or early thirties.

Most of the students have dropped from their respective careers to become professionals in the cannabis industry. According to Steven Johnson, dean of the College of Science and the Environment, some of the students include registered nurses. Johnson states that compliance jobs in the industry can be high paying. An individual with a degree can earn more than a faculty member who has a PhD.

Tuition at the institution costs $4,308 per semester with the university stating that its graduates secure employment one year after their course completion.

Stockton University has one of the highest enrollments. More than 100 students are pursuing a minor in cannabis studies at the New Jersey institution. The degree will allow these students to major in hospitality, health sciences, business, finance, criminal justice, social work, communications and even environmental science.

The university has partnerships with key players from multiple industries. According to Diane D’Amico, the director of new and media relations, a minor from Stockton will allow students from any majors to apply into their field sof interest. Tuition per semester starts at $6,245 for U.S. residents and $10,036 for non-U.S. residents.

Oaksterdam University in Oakland, California, was founded in 2007 as the first U.S. cannabis college. The school offers certificate programs that cover every aspect of the industry, from growing and processing to business and public policy. The school has a strong focus on diversity, inclusion and equity. According to Dale Sky Jones, the institution’s executive chancellor, the school has fought for regulations that will allow formerly imprisoned and convicted individuals to participate in the industry.

The institution has more than 100,000 alumni worldwide. In addition to offering training programs, students and alumni have access to jobs boards, mentorships, company tours and other networking opportunities.

Examples of other institutions offering training include Colorado State University Pueblo, University of Nevada, Northern Michigan University, University of Rhode Island and State University of New York (SUNY).

As more of these courses are offered in different universities and colleges around the country, it will get easier for licensed companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) to find the high-caliber workers that they need to propel their companies forward.

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

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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CannabisNewsBreaks – American Cannabis Partners’ Rare Approach Sets It Apart in Competitive Industry

American Cannabis Partners (“ACP”), a sustainable Jamaican experience canna-business innovator contending for first place in the U.S. cannabis industry, relies on proven strategies such as mergers and acquisitions to strengthen its position in a competitive market. For ACP, due diligence is a top priority before acquiring any assets. Its website notes that its sights are set on listings in cannabis-friendly states, cannabis population demand, agricultural zoning, available licenses, and market value. ACP purchases land and equipment in full to keep it debt-free and liquid. After completing acquisitions, the company undertakes cost-effective measures to update and appraise properties to increase market value. A recent article reads: “ACP CEO Stephen Jordan echoed this philosophy when he noted that the company focuses on ‘“assets, assets, assets — and then build(s) the operation out” — a rare approach in the cannabis industry where most companies create a product first, and if something happens where they are unable to make that product, they go under.’… This focus on maintaining the ability to liquidate, move and survive is a fundamental strategy that allows American Cannabis Partners to protect its shareholders.”

To view the full article, visit https://cnw.fm/g2mXe

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.

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 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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CannabisNewsBreaks – Red White & Bloom Brands Inc.’s (CSE: RWB) (OTCQX: RWBYF) Acquisition Strategy Spearheading Expansion, Premium Inventory Production

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a premium cannabis brand multistate operator, has been building assets steadily in Michigan, Florida, Illinois, Massachusetts, and Arizona, while working to establish the quality and consistency that wellness consumers seek. The company announced full licensing for manufacturing both medical and adult-use cannabis products in Michigan in January, along with the closing of a lease assignment for a 15,000-square-foot manufacturing, processing and distribution facility in the city of Warren. A recent article reads: “The manufacturing facility is a key part of RWB’s acquisition strategy for 18 Michigan dispensaries, four cultivation facilities and other important real estate. The company is also using its acquisition of a 45,000-square-foot Florida cultivation facility to spearhead premium inventory production for several existing and new dispensaries under the company’s banner. ‘The Apopka facility will deliver the cultivation needed to meet our significant retail expansion goals throughout the state,’ [RWB CEO and Chairman Brad] Rogers stated last fall…. Red White & Bloom’s seed-to-sale integration for the medical and adult-use sectors was further enhanced when it closed its acquisition of PharmaCo Inc., granting the company over 20 assets in the state for potential new cultivation and dispensary locations.”

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

About Red White & Bloom Brands Inc.

The company is positioning itself to be one of the top three multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California 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

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 — US DOT Proposes New Cannabis Testing Policies to Increase Accuracy

Through a notice published last month, the U.S. Department of Transportation (“DOT”) is suggesting a new testing policy that could have an impact on cannabis users who use the drug while off duty. The federal transportation agency is looking to adopt saliva sampling in its tests in a bid to reduce false positives.

Currently, the DOT relies on urine testing to determine impairment in a user. This method is controversial because it is invasive as workers are forced to urinate in a jar. Nevertheless, it tends to come up with a false positive as THC metabolites used to determine impairment can be present in a person’s urine for months after use. According to the DOT, the use of saliva tests will reduce cheating found in testing of urine samples as well as being economical and less invasive.

Last year, another federal agency received criticism for its proposal that would permit certain employers to collect samples of their workers’ hair for drug testing. The move was called out that it would have disproportionately affected people of color.

The use of oral tests could prevent casual users from getting in trouble for the indulgence weeks later because of a urine test. Regardless of the frequency of intake, THC can be detected in saliva from as early as one hour to one day after use.

The proposal uses research from the U.S. Department of Health and Human Services (“HHS”) to eliminate positive findings that are a result of passive exposure. It mentions that the screening test cut-off for THC is four nanograms per milliliter. This initiative has been well received by advocates, who have praised the effort being put into reducing the number of false positives in comparison to urine tests.

According to Dale Gieringer, director of the Californian chapter of NORML, oral testing may not be flawless, but it is a big shift from the urine tests. It is now possible for workers, especially those in safety-sensitive jobs, to indulge in marijuana during the weekend. Moreover, the oral tests are less intrusive into a worker’s dignity. The director says that it is unlikely that the government will drop all forms of cannabis testing because it is a scheduled substance.

Meanwhile, the federal transportation agency is open to public opinion on the policy change up until March 30, 2022. The notice was posted on the Federal Register, and it comes days after the Illinois House of Representatives passed a bill to prevent workers from being fired because of off-duty use of cannabis. At the same time, a Washington, DC, council committee authorized workplaces to stop subjecting job applicants to marijuana testing.

As workplace testing rules evolve in tandem with scientific information about the same, many more people are likely to consume medicinal marijuana products manufactured by companies such as Flora Growth Corp. (NASDAQ: FLGC) since the risk of being victimized at work for off-duty consumption will have lessened significantly.

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

About CNW420

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

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420 with CNW — Congressional Democrats Discuss Cannabis Equity Issues During Policy Retreat

A policy retreat that featured a panel discussion on advancing cannabis reform with a focus on the promotion of equity was attended last week by Democratic congressional legislators.

The panel was moderated by Rep. Barbara Lee and was focused on the need to ensure that communities that were most affected by prohibition could benefit from the federal legalization of marijuana. Those in attendance discussed the Marijuana Opportunity, Reinvestment and Expungement (“MORE”) Act, which was sponsored by Jerrold Nadler, the House Judiciary chair.

The event was held in Philadelphia a day after the House passed a large-scale spending bill that carries on an appropriations rider that blocks Washington D.C. from allowing marijuana commerce, despite voters’ approval of legalization at the ballot almost a decade ago.

In an interview, the executive director of Supernova Women, Amber Senter, stated that misconceptions about individuals who qualified for equity benefits under proposed legalization measure and equity programs were discussed. Senter, a constituent of Lee, added that she wanted legislators to understand the difference between Black business and social equity, noting that most believed that they were one in the same.

She added that lawmakers were engaged in the discussion and were keen on following up to learn how to protect Black businesses, highlighting how those in attendance also seemed open and willing to learning more about what was happening from the perspective of those who operated businesses. This, Senter noted, was encouraging as she herself is an owner and operator of a marijuana business.

Amber LittleJohn, executive director of the Minority Cannabis Business Association, and Maritza Perez, director of the Office of National Affairs at the Drug Policy Alliance, also took part in the discussion.

Congressional Democrats have held closed-door retreats for cannabis reform a number of times in the recent past. For instance, Rep. Earl Blumenauer and Lee also moderated a panel in 2019 that covered various issues, including the consequences of marijuana criminalization.

It hasn’t been confirmed whether House leadership will re-introduce the MORE Act to the floor this month. The measure was approved by the Judiciary Committee in September last year. Stakeholders and advocates are also waiting for Majority Leader Chuck Schumer to introduce a separate Senate legalization bill, the Cannabis Administration Opportunity Act, which Schumer revealed would probably be filed in April of this year.

This comes as the state of New York, the majority leader’s home state, takes steps to prioritize individuals who were most affected by marijuana prohibition.

The cannabis industry, including companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS), looks forward to the translation of these discussions into concrete steps to end marijuana prohibition federally and address equity issues comprehensively.

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

About CNW420

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

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces New Board Appointments

Flora Growth’s (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has made two significant changes to its board. The company named FLGC CEO Luis Merchan as board chair and announced that former Amazon executive Tim Leslie, who is currently serving as chair of Flora Growth’s advisory board, will join the company’s board of directors and audit committee. The company noted that the changes to the board indicate FLGC’s move toward becoming a U.S.-based issuer; the new appointments also support the company’s growth into new international markets. Merchan is replacing Bernie Wilson as board chair; Wilson will serve in an advisory capacity through 2022 to provide strategic guidance on capital markets and international expansion. “I am honored that our board has entrusted me with this role, and I believe it is a testament to what we have built together thus far,” said Flora Growth CEO and newly appointed chairman of the board Luis Merchan in the press release. “Our board has been incredibly supportive to date while always ensuring business decisions are in the best interest of our shareholders, and I am looking forward to continuing to work closely with them in this role. . . . We want to thank Bernie for his commitment to the growth of Flora during this formative time for our company and look forward to continuing to work with him as we continue to grow.”

To view the full press release, visit https://cnw.fm/2IeIX

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers 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. For more information about the company, please visit www.FloraGrowth.ca.

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.

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CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Makes Changes in Management

InMed Pharmaceuticals (NASDAQ: INM), a leader in the research, development, manufacturing and commercialization of rare cannabinoids, has announced changes in company leadership. According to the announcement, InMed chief financial officer Bruce Colwill is retiring, effective March 31, 2022; Colwill will serve as an advisor to the company through June 30, 2022, to ensure a smooth transition. The company has appointed Brenda Edwards as interim CFO while the company searches for a full-time replacement. Edwards has garnered more than 35 years experience to her new position, including more than two decades of experience as a chief financial officer; she has served in both private and public companies. Throughout her career, she has worked closely with merger and acquisitions, financings, managing high-growth situations and financial reporting. “I would like to thank Bruce for his invaluable leadership and significant contributions over almost three years including managing our transition to the Nasdaq and several financings to ensure the long-term growth of the company,” said InMed president and CEO Eric A. Adams in the press release. “I wish him the very best and appreciate his continued assistance to ensure a smooth transition. I am delighted to welcome Brenda to the company. Brenda comes with extensive experience and will be an excellent fit to help us through this transitional period.”

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

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids. Together with its subsidiary BayMedica LLC, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients who may benefit from cannabinoid-based pharmaceutical drugs. For more information, please visit www.InMedPharma.com.  

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

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 — ABA Poll Shows Americans Want SAFE Banking Act Passed

A recent survey released by the American Bankers Association has found that almost 70% of Americans are in favor of allowing financial institutions to work with cannabis businesses without the threat of being penalized. The poll, which was conducted by Morning Consult, interviewed more than 2,000 adults between February 18–19, 2022.

The survey asked respondents a pair of questions on cannabis banking. The first asked respondents whether they support or oppose allowing cannabis businesses to “access traditional banking services, like a checking account or business loan, in states where cannabis is now legal.” The poll found that 65% were in favor of this, with only 15% opposing it. The second question asked respondents whether Congress needed to pass a bill that would accomplish this reform, with 68% indicating that legislators did need to approve the measure.

The bipartisan measure in question, the Secure and Fair Enforcement (“SAFE”) Banking Act, would offer protections to banks that worked with state-legal cannabis businesses. This bill has been approved in some form in the House half a dozen times. However, it has yet to be passed in the Senate.

In a press release, Rob Nichols, the CEO of the American Bankers Association, highlighted that consumers agreed that the time had come to allow banks to serve legal marijuana and marijuana-related businesses. Nichols noted that this measure would help banks meet communities’ needs while also improving the financial transparency of the growing marijuana industry, increasing tax collection efficiency and increasing public safety.

The American Bankers Association was one of several insurance, financial and labor groups that called on Congress to approve the cannabis banking reform as part of a large-scale defense legislation last year. The bill’s language was successfully attached to the defense measure by the banking bill’s sponsor, Rep. Ed Perlmutter. However, the language was scraped off later during bicameral negotiations.

This may change now, after Senate Majority Leader Chuck Schumer, who has been an obstacle to the banking measure’s approval in the Senate, revealed that approving the bill was a possibility if some equity provisions were included. Soon after this, Perlmutter stated that he was open to revisions, noting that he was confident that the Senate would take up his measure before he went into retirement at the end of this session.

Many hope that the banking measure will soon be approved, as the number of banks working with legal cannabis businesses increases. As the relationship between mainstream banks and licensed marijuana companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) is allowed under federal law, we are likely to see the industry grow at a faster rate since companies will have access to needed services, including bank loans to fund their growth.

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

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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CannabisNewsWire420
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