420 with CNW — Data from UK Registry Reveals Medical Marijuana Improves Patients’ Quality of Life

A study conducted by the UK Medical Cannabis Registry reveals the association between prescribed medical marijuana and an improvement in the quality of life of a patient. The UK Medical Cannabis Registry is a first-of-its-kind database known to contain details of the largest group of patients that have been prescribed medical marijuana.

The registry was set up by Sapphire Medical, a medical cannabis clinic providing patients with an expert assessment of their health conditions and considerations for using medicinal cannabis for treatment. The data in the registry is anonymous and is available upon request to the medical community.

The study findings were published in the registry by “Cannabis and Cannabinoid Research,” an internationally peer-reviewed journal. The study analyzed data collected from 312 patients who were diagnosed with anxiety, chronic and neuropathic pain, fibromyalgia and needed palliative care over a period of six months. The demographic distribution revealed that the mean age was 45 with male participants accounting for 55% while 45% were female. Out of the total participants, 36% had used marijuana daily before the treatment. Data was collected while building up on research from Canada and New Zealand.

Generalized anxiety disorder was a common diagnosis across the patients. The anxiety score on average was consistent, which according to the results would reduce to below clinically relevant levels during a follow-up.

Medical cannabis was also found to have an effect on patients with chronic illnesses. It was found that one in four patients reported having symptoms of anxiety within the previous two weeks and then found relief. In terms of adverse events, 94 patients (30.1%) reported experiencing nausea frequently (3.8%) with other mild symptoms, including dizziness, dry mouth and sleepiness.

Sapphire Medical also mentioned that patients reported an improvement in the quality of sleep. However, due to the design and the nature of the study, these reports could not be linked to the use of prescribed medical marijuana.

This study followed a previous study that was published last year. Similarly, that study used data from the medical cannabis registry and noted significant improvements in pain, anxiety, sleep and quality of life after scoring patients one to three months after receiving treatment.

Since 2018, doctors in the United Kingdom are allowed by law to prescribe medical cannabis to patients under certain circumstances. According to Hemp Gazette, another piece of legislation is in motion that aims to expand the ability of general health practitioners to prescribe unaccredited cannabis medical products.

This data provides yet more proof that the cannabis products manufactured by licensed entities such as Cannabis Strategic Ventures Inc. (OTC: NUGS) from around the world can be pivotal in benefiting patients who would have otherwise failed to derive similar benefits from conventional medications.

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 — Report Finds Marijuana Has Contributed $43+ Billion to Canada’s GDP

A recent report by Deloitte Canada states that marijuana has contributed more than $43 billion to the country’s gross domestic product (“GDP”). Since recreational marijuana was legalized in 2018, it has also contributed more than $13 billion to Ontario’s GDP.

The report, which was compiled with help from the Ontario Cannabis Store, stated that for every $1 in capital expenditures or revenue, the marijuana industry added roughly $1.02 and $1.09 to Ontario’s and Canada’s gross domestic product from legal purchases. The Ontario Cannabis Store is a provincial distributor of cannabis.

The report also provides insight into how the marijuana industry in Canada has impacted the nation’s finances over the past few years. For example, it states that in three years, the country’s marijuana sector has emerged as a burgeoning new source of economic growth, supporting and creating thousands of employment opportunities in various communities. Thus far, the cannabis industry has created more than 150,000 jobs and sustains roughly four jobs in Ontario and Canada each for every million dollars in capital expenditure or revenue.

The report also noted that it expected the sector to make an increasingly positive and strong impact on provincial and national economies as it matured and grew. Report estimates show that the cannabis industry has generated an estimated $3 billion and $15 billion in tax revenues for Ontario and Canada as a whole, respectively. Consumer purchases alone have generated $2.9 billion in excise and sales taxes.

The estimates also show that at the Ontario level, marijuana producers and retailers were responsible for $1.2 billion in indirect taxes, $141 million in direct taxes and $674 million in other taxes, while consumer purchases brought in $1 billion in excise and sales taxes.

With regard to diversity within the industry, the report found that not much had changed since marijuana was legalized in October 2018. Before legalization, almost all federally licensed marijuana producers were managed by Caucasian men. It cited a study conducted by the University of Toronto and the Center on Drug Policy Evaluation which found that racialized women and men were considerably underrepresented among marijuana company directors and executives.

This study gathered responses from 700 directors and executives from more than 200 firms. It found that of the total number, 72% were Caucasian men, 14% were racialized men, 12% were Caucasian women and 2% were racialized women. The racialized portion encompasses South Asian, East Asian, Indigenous, Arab, Hispanic and Black individuals.

The stats on the type of contribution the cannabis sector has made to the GDP of Canada is an indirect bill of health for entities such as Flora Growth Corp. (NASDAQ: FLGC), which operate within the legal cannabis industry in Canada and beyond because the health of these companies translates into greater tax revenues and salaries for employees as well as other multiplier effects.

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

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CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) in Unique Position to Offer Full Slate of Rare Cannabinoid Manufacturing Technologies

InMed Pharmaceuticals (NASDAQ: INM) understands the immense potential of rare cannabinoids and sees them as having applications as wide as cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”), variants of cannabinoids that make up most of the content in cannabis plants. Studies suggest that rare cannabinoids could offer more potent medical benefits than CBD and without the psychoactive attribute of THC, representing a huge market. “However, the industry wide problem has always been to obtain the production scales necessary for cost-effective commercialization of such compounds, while also ensuring the purity and consistency that can be difficult at even low volumes. The answer is to develop and apply successful large-scale bio-synthesis capabilities, technologies that are complex and not readily available for these rare compounds,” explains a recent article. In October last year, InMed acquired BayMedica, adding its synthetic biology and chemical synthesis capabilities and expertise to InMed’s bacterial biosynthesis and enzymatic biotransformation capabilities. The acquisition provides InMed with complete rare cannabinoid manufacturing flexibility to select the most appropriate, cost-effective method based on the target cannabinoid and applicable quality specifications for the desired industry. “I think we are the only company out there that can offer a full slate of these different manufacturing technologies,” stated InMed CEO Eric A. Adams.

To view the full article, visit https://cnw.fm/VxnL5

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the development, manufacturing and commercialization of rare cannabinoids. Together with its subsidiary, BayMedica, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is also a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients that may benefit from cannabinoid-based pharmaceutical drugs. For more information, visit www.InMedPharma.com and www.BayMedica.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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Furthering Global Foothold as Leader in Plant-Based Wellness, Lifestyle Brands

Flora Growth Corp. (NASDAQ: FLGC) is expanding its cannabis-derived brand presence in Latin American countries. Its Mind Naturals skincare brand, built with premium CBD and other high-quality ingredients, will be distributing a portfolio of 12 products through its agreement with Walmart’s online marketplace and Coppel e-commerce outlets. Walmart and Coppel are leading retail chains in Mexico and Central America. A recent article quotes Flora Growth CEO Luis Merchan as saying, “This agreement represents our first foray into the Mexican market and furthers our global foothold as a leader in plant-based wellness and lifestyle brands… As the cannabis market continues its rapid expansion across the globe and into various sectors, we are poised to meet the needs of the market at every touch point.” Merchan separately shared via the Bell2Bell Podcast that 2021 was a foundational year for the company as it established its infrastructure to capitalize on its first revenues and set the stage for continued growth. “In 2022, we’re going to see the export of dried flower commerce. We’re going to see the export of derivatives into countries such as Australia, South Africa and some portions of Europe, and that, of course, will be complemented by organic growth in our portfolio products.”

To view the full article, visit https://cnw.fm/6rzKI

About Flora Growth Corp.

Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.FloraGrowth.ca or follow @floragrowthcorp on social for more information.

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

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420 with CNW — Cosmetics Sector Now Eying CBG as an Ingredient

We’ve seen the CBD market grow significantly these last few months in different parts of the globe, with projections showing that by 2028, the market could be valued at $13 billion. CBD has various benefits, which include relieving anxiety and providing pain relief along with anti-acne and anti-seizure properties. Some studies have also found that CBD may help prevent growth of cancer cells. However, more research is needed to support these claims.

CBD isn’t the only compound various markets are interested in either, as the wellness and cosmetic markets have begun to take an interest in CBG (cannabigerol), which is said to possess anti-inflammatory, antibacterial and soothing properties.

Like CBD, CBG is one of the many compounds found in the cannabis plant, which contains more than 100 cannabinoids. Other cannabinoid compounds include cannabichromene, cannabidiorcol, cannabichromenevarin, tetrahydrocannabinolic acid, cannabinol, cannabidiolic acid synthase and cannabichromanon.

Unlike CBD and THC, which are the primary compounds in the cannabis plant, CBG is less known. Despite being less recognized, manufacturers and researchers have begun exploring CBG’s potential in an effort to introduce it to the realm of beauty and wellness.

CBG is, in some way, the basis of its counterparts as it transforms into other cannabinoids, including THC and CBD, during the cannabis plant’s growth. This may explain why it is found in relatively low concentrations and small quantities.

In addition to this, CBG is nonpsychotropic, like CBD, which means that it does not induce a high. This is unlike THC, which causes individuals to get high when they ingest or consume cannabis.

CBD is currently used in many products, including creams, serums, oils, scrubs, cleansers and deodorants. We may, in the near future, see the same lines of products with CBG. Some companies are already looking closer at the properties of CBG various studies and have found their antioxidant, antibacterial, soothing and anti-inflammatory properties.

CBG oils, which many believe can help combat fatigue and stress, are already available in various specialist stores. These oils are also said to relieve anxiety, help manage pain, alleviate inflammation, relieve nausea and relieve a number of skin conditions, including acne.

The cosmetics industry plans to use this compound to create an even wider range of products for the skin. For example, Purple Store, the France-based network of specialist CBD boutiques, recently announced that it would begin the development of cannabigerol-based products, which could range from cosmetics to wellness products. This announcement came after CBG was included in the EU’s database of cosmetics ingredients last year.

As more studies unearth the benefits of other cannabinoids, we will undoubtedly see sector players such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) developing new product ranges featuring those novel cannabinoids.

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420 with CNW — Proposed California Law Could Push Back on Marijuana Legalization

A California assembly member is proposing a new law that will recriminalize the growing of marijuana. The bill seeks to treat unlicensed cannabis cultivation of more than six plants as a felony. This is pushing back on the state’s Adult Use of Marijuana Act that was passed in 2016. The legislation removed all weed-related felonies and stipulated that offenders could only go to prison if they were caught selling to minors.

The Assembly Bill 1725 by Rep. Thurston Smith (R-Apple Valley) is seeking to undo that act by increasing the penalties for unlicensed marijuana cultivation from a misdemeanor to a felony offense. Misdemeanors tend to receive a $1,000 fine with up to one year in jail with first-time violators receiving a fine. As a felony, this would mean violators would receive at least 16 months to three years in jail. For the bill to pass, it will require a two-thirds majority in a Democrat-dominated legislature.

The assembly member said in a news release that the bill would fight off illicit farmers who have been “operating with impunity.” He said that this was as a result of Sacramento lawmakers being “soft on crime” and thus causing an increase in unlicensed grows.

The bill has received criticism with an East Bay Express article arguing that despite the war on drugs ending in 2016 and realizing that criminal enforcement does not reduce the market share of illicit grows, some legislators are pretending not to understand. The publication goes on to note that San Bernardino has put a ban in place that prohibits any commercial activity on marijuana. As a result, unlicensed grows have popped up for years because they generate money, and the article states that “it’s worth the risk of criminal prosecution.”

The assembly member’s district contains a track of desert land whose climatic and soil conditions provide an ideal state for the cultivation of cannabis. Smith has been in favor of police raids including one that led to 15 arrests. One report for the San Bernardino County Board revealed that the conditions in the desert resulted in 1,080 illicit farms, out of which 300 were busted in 2021. In August, Shannon Dicus, a county sheriff, informed the board that the pot farms posed a threat to the quality of life in the area, citing that they have created environmental harms through the misuse of insecticides.

East Bay Express argues that government officials should allow cannabis farms to operate legally because criminal enforcement does not reduce the number of illegal cultivation sites. A Forbes report states the assembly member’s efforts “represent a growing discontent” with the way implementation of laws around marijuana legalization has played out. The problem is that the laws can only be fixed through reform policies at the state and federal level, a move that would address many of the regulatory headaches which the industry, including companies such as American Cannabis Partners, currently faces.

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) to Host CBD and the Global Market Webinar

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products, has announced that it will hold a webinar today, Feb.11, at 1:00 p.m. ET. The CBD and the Global Market webinar will be the first of the company’s “State of Play” series. During the webinar, Flora CEO Luis Merchan will explore the opportunities and challenges that lie ahead for the CBD industry in North America, Latin America and the EU. Interested parties should visit https://cnw.fm/tSRGL and, upon registration, can submit questions in advance of the event.

To view the full press release, visit https://cnw.fm/LqF2l

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. Visit www.FloraGrowth.ca or follow @floragrowthcorp on social for more information.

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420 with CNW — Schumer Expects to File Cannabis Legalization Bill in April

New York’s Senator and Senate Majority Leader Chuck Schumer is pushing to legalize marijuana on a federal level. In a Friday press conference, the Democratic lawmaker announced that he aims to introduce the cannabis legalization bill in April.

The meeting took place on the same day that the House of Representatives passed the COMPETES act, which contained the Secure and Fair Enforcement (“SAFE”) Banking Act. Through the SAFE Banking Act, cannabis businesses would access services from banking institutions just like any other business.

The Friday press meeting was also attended by advocacy groups, organizations and other lawmakers. Lawmakers present included the democratic congressman Jerrold Nadler and Senator Diane Savino.

Schumer is seeking to reform marijuana’s federal legislation through the Cannabis Administration & Opportunity Act (“CAOA”). He said the bill would serve as a framework for the country in implementing law amendments that are focused on maintaining social equity.

The contents of the CAOA Act were unveiled for the first time in July. The bill’s advocates were excited with the information but became impatient with the inactions taken in the months that followed. The bill now has a targeted timeline, and the lawmaker told activists in another meeting that he expects committee hearings to take place after the bill is finally filed.

Schumer’s office has also been involved in taking part in the passing of the SAFE Banking Act. Last year, he was criticized for blocking the banking bill until his office had discussions with the bill’s sponsor, Colorado’s representative Ed Perlmutter.

The Senate leader said that his CAOA reform bill would work in favor of small operators and restrict larger companies from operating the cannabis economy once federal prohibition is lifted. Schumer also mentioned that while they had not received endorsement from the president, they were “talking” to him about the issue.

At the same press conference, Rep. Jerrold Nadler (D-NY) talked about ending marijuana’s federal prohibition through his Marijuana Opportunity, Reinvestment and Expungement (“MORE”) Act. The bill seeks to promote social equity to end the destructive policies that have greatly affected people of color. Congresswoman Nydia Velazquez was also present at the event and talked about the significance of lifting the federal prohibition and providing resources to cannabis businesses through the Small Business Administration (“SBA”).

Public opinion on marijuana has dramatically shifted over the years. With more than two in three Americans supporting legalization of marijuana, Velazquez calls for action from the federal government to align federal policy with the people’s needs.

The marijuana industry, including companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS), can only wait with bated breath to see what comes of this new attempt to end federal marijuana prohibition.

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420 with CNW — Cannabis Banking Bill Sponsor Talking with Senate Leadership About Equity Amendments

Rep. Ed Perlmutter, who sponsored the Secure and Fair Enforcement (“SAFE”) Banking Act, revealed last week that he’d been having discussions with Senate leadership about altering his bill to place more focus on equity issues.

Perlmutter said this shortly before the House passed the SAFE Banking Act for the sixth time. The act was attached to the America COMPETES Act, a large-scale manufacturing and innovation legislation. During the press briefing, the congressman stated that he’d initiated discussions with Sen. Cory Booker’s and Sen. Chuck Schumer’s offices, in addition to having discussions with House Speaker Nancy Pelosi.

Perlmutter explained that the time had come to pass a bill that rationalized banking, noting that any research elements, tax reforms or criminal justice reforms were all bonuses which needed to be viewed in a positive light. In addition to this, he mentioned that the discussions had begun before the House passed the banking measure when it was attached to the National Defense Authorization Act, noting that the conversations didn’t produce results in time as the banking language was excluded after bicameral negotiations.

The Senate already approved its related version of this new innovation legislation, which doesn’t contain the marijuana banking language but focuses on competing with the People’s Republic of China on trade.

Schumer, who is the Senate Majority Leader, recently stated that he was open to advancing the banking legislation if some amendments that further promoted equity were added. Perlmutter revealed that while he was open to making amendments, adding too many new equity provisions would alter the bipartisan measure too much, which could prompt Republican members such as Patrick McHenry, the House Financial Services Committee Ranking Member, to oppose the bill’s passage. This, he said, would reduce support for the bill from that side of the aisle.

When asked about whether he’d spoken to the House Speaker about advocating to keep the banking language attached to the America COMPETES Act in bicameral conference, Perlmutter stated that he had and was confident that she would do so.

Rep. Dave Joyce stated that there was agreement in passing bipartisan marijuana reforms such as the SAFE Banking Act, as well as a separate initiative he was sponsoring with Rep. Alexandria Ocasio-Cortez, which would incentivize states to expunge cannabis records.

Many legislators, in particular Republicans, are puzzled at why Democrats haven’t succeeded in passing this modest banking legislation, despite having control of the White House and being the majority in both chambers. The entire cannabis industry, including companies such as Flora Growth Corp (NASDAQ: FLGC), looks forward to the passing of legislation, which will end the federal prohibition of marijuana or at least allow the industry to access banking services like any other sector of the economy.

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CannabisNewsBreaks – O’Cannabiz International Event Returns to Toronto in June

The O’Cannabiz International Awards, Conference and Expo presented by ND Supplies is heading back to Toronto this year; the three-day event is scheduled for June 1–3, 2022. The event has built a reputation for providing a high-level lineup of exhibitors, speakers and conference topics designed to cover innovative and informative research and the latest in technology. The event also offers invaluable networking opportunities that enable conference participants to rub shoulders with cannabis industry professionals and experts from around the world. This year’s event will also feature new core elements with educational programming delivered on three separate stages. Topics covered will include policy and regulations, advertising and branding, cannabis science, recreational trends, and more. In addition, this year’s event will include a new retail summit exclusively dedicated to the point-of-sale side of the cannabis industry. Event attendees may also choose to experience a one-day psychedelic summit. “After over a year of figuring out the ‘new normal,’ and careful planning, we are thrilled to be having the O’Cannabiz International Awards, Conference and Expo make its return to Toronto,” said O’Cannabiz CEO Danya Dixon in the press release. “We are really excited to bring the cannabis community back together and have everyone experience O’Cannabiz as we have envisioned.”

To attend the event, visit https://cnw.fm/WGGSe

To view the full press release, visit https://cnw.fm/uZ0TV

About O’Cannabiz Conference & Expo

Voted the no. 1 cannabis event in Canada by “High! Canada” magazine, O’Cannabiz is known for its ability to showcase and promote the people, businesses and brands that are making a difference as cannabis continues its path toward global acceptance. Many of these visionaries will be celebrated during the second annual O’Cannabiz Industry Awards Gala, slated for the evening of June 1, 2022. The producers of O’Cannabiz have decades of experience producing national profile events and creating global connections between business communities in the arts, broadcasting, media, and technology. They have organized trade summit initiatives with governments around the world and have worked closely with sponsors at all levels of the Canadian government. For more information, visit www.OCannabiz.com.

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