420 with CNW — Advocate Informs Congress That Minority Marijuana Firms Need Federal Financial Assistance

During a House Financial Services Subcommittee hearing, Amber Littlejohn stated that minority-owned and small cannabis firms may not survive without federal relief.

Littlejohn, the executive director of the Minority Cannabis Business Association, stated that supporting the SAFE Banking Act as well as other measures would make state-legal cannabis companies eligible for federal financial assistance from the Small Business Administration. The subcommittee hearing, which was held last week, discussed consumer protections and financial institutions.

Littlejohn then explained that minority marijuana businesses would probably not survive long enough to see federal legalization, especially without some relief from Congress. She added that social equity programs at the state level hadn’t been able to keep most minority-owned businesses from going under.

These comments led David Scott, chair of the House Agriculture Committee, to propose that issues on cannabis be addressed in the 2023 farm bill. Some are hopeful that going this route may help legalize cannabis, which was what happened with hemp.

The 2018 farm bill federally legalized the production of hemp by removing the plant from the Controlled Substances Act, and the hemp industry has grown significantly since the bill was approved. Currently, however, cannabis remains classified as a Schedule I substance under the Controlled Substances Act. Substances under this classification are considered to have a high potential for abuse and no accepted medical use in treatment. However, numerous studies have shown that cannabis and various cannabinoids are useful in the treatment and management of a number of conditions.

In a recent interview, the primary sponsor of the SAFE Banking Act, U.S. Rep. Ed Perlmutter stated that he’d received confirmation from House Speaker Nancy Pelosi that she would support keeping the banking initiative attached to the America COMPETES Act if the House bill, which had already been passed, was reconciled with the Senate’s version.

The Creating Opportunities To Meaningfully Promote Excellence in Technology (COMPETES) Act was passed by the House in a 222–210 vote. This is the second legislation that the banking act has been attached to. It was first attached to a national defense budget bill and had advanced, before it was stripped out by Senate leadership.

The objective of this multibillion dollar measure is to boost the competitiveness of the United States, partly by strengthening the manufacture of semiconductors.

Perlmutter remains determined to get the banking act past the finish line in order to help many cannabis companies, which are vulnerable to criminal activity.

Given the way larger cannabis companies, such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), have found success in jurisdictions with legal marijuana markets, it would only be fair that minority-owned businesses in this space receive any support they can get in order to establish a firm footing and even thrive.

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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420 with CNW — California Growers Welcome Turnaround in Marijuana Pricing

Following the rise in the prices of bulk cannabis flower, growers in California now have a chance to celebrate the rebound as sales continue to grow.

The drop in prices started more than a year ago with November recording the lowest number of sales. According to industry officials, the slump in prices could be attributed to high taxes, a flourishing underground market and a small number of brick-and-mortar retail outlets for cannabis products among others. These problems cut across the industry affecting small-sized businesses as well as large-scale brands.

Several operators, however, have reported a turnaround with sales in January. According to Autumn Shelton, a grower based in Santa Barbara County in California, growers have experienced an increase in wholesale pricing since January. Such spikes are typical within the sector as the entry of harvests in the market in October and November normally leads to a decrease in pricing. According to Shelton, the price per pound of cannabis flower averages about $1,100 for big buds and $450 for small buds.

According to Thrive Society, a wholesaler that tracks prices across 400 growers and 200 buyers, the price for AAA-grade flower dropped by 65%. Prices went from $1,250 per pound in August 2020 to roughly $400 per pound in November. This is the lowest level since the establishment of the regulated market in January 2018. According to Devin Calloway, the company’s founder, the increase in sales is due to consumer demand for high-quality products.

Some farmers, however, have not had similar experiences. For example, the Humboldt Sun Growers Guild experienced a moderate hike. According to Sequoyah Hudson, the company’s CEO, the company’s wholesale pricing increased up to $500 per pound for outdoor-grown flower, up from $250 in November.

The minor increase has seen some cultivators choosing to destroy their crops rather than pay state taxes. According to Hudson, this is because it would be more expensive to the farmers who will not be profiting from selling at low-level prices. Hudson also noted that her company has seen an increase in inquiries about and demand for trim and biomass.

The increase in pricing is good news to thousands of cannabis farmers who have had to deal with high taxation, supply chain disruptions, labor shortages and inflation. For some growers, including Pacific Stone, the uptake has created questions around the production levels from farms in the state within the year. According to CEO Skip Motsenbocker, it would be a tough prediction to make by “looking at what that brings” for the second and third quarter.

The rebounding of wholesale cannabis flower prices is great news to licensed firms such as American Cannabis Partners that derive part of their revenue from supplying cannabis distributors and other retail outlets.

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

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CannabisNewsBreaks – American Cannabis Partners Standing Distinct Thanks to Sustainable Practices, Strategic Positioning

American Cannabis Partners (“ACP”), a Jamaican experience canna-business innovator, is committed to doing its part as the sustainability trend permeates all sectors, including cannabis. Sustainability is a growing priority for businesses in today’s environment-conscious and energy-aware world. A recent article notes that the advantages of sustainability are twofold: making a positive impact on the environment and connecting with consumers who are becoming increasingly aware and supportive of companies working to make a difference. “ACP follows an organic cultivation model that includes implementing sustainable operating practices designed to reduce the company’s environmental footprint and increase its social responsibility,” the article reads. “ACP’s commitment to doing what is environmentally right is only one aspect of what sets it apart. A fully licensed, large-scale and 100% organic cannabis cultivation company, ACP is strategically positioning itself in four sectors of the cannabis space: real estate, cultivation, medical research, and nonprofit groups. American Cannabis Partners supplies multiple forms of raw product at wholesale prices for manufacturing, distribution and retail licensees in both the medical and recreational markets.”

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

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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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) Strengthens Foothold in US Wellness Market with Acquisition of JustCBD

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced that it has acquired 100% of the equity interests in each of Just Brands LLC and High Roller Private Label LLC for cash consideration of US$16.0 million and 9.5 million privately issued Flora common shares, subject to certain potential future adjustments. According to the update, Just Brands and High Roller are the owners of the JustCBD brand and associated operations (collectively “JustCBD”). “We are thrilled to announce this news today and welcome the JustCBD team to Flora. To build such a recognizable brand in this noisy, rapid-growth market is a testament to everyone at JustCBD,” said Luis Merchan, CEO of Flora. “This acquisition continues to strengthen Flora’s foothold in the U.S. wellness market as well as providing meaningful growth acceleration and delivering human capital to the Flora organization. Additionally, there is incredible opportunity to leverage our economically advantaged cultivation to support the expansion of the JustCBD brand in the global market.”

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

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 — USDA Survey Reveals Hemp Market Reached $824M Valuation in 2021

This week, the U.S. Department of Agriculture (“USDA”) revealed that the value of the hemp market in 2021 reached $824 million. The survey is the first federal study into the hemp sector, and the analysis is meant to be used as a benchmark for the sector’s economic impact.

According to Hubert Hamer, an administrator for USDA National Agricultural Statistics Service (“NASS”), the report would provide producers, state governments, regulators, processors and other key players with benchmarks on hemp production.

The Hemp Acreage and Production Survey was undertaken in collaboration with the University of Kentucky and the National Association of State Departments of Agriculture after it received approval from the White House last year.

The agency wanted to determine the size of the hemp market and collected data from about 20,000 hemp growers who cultivate about 54,200 acres for the crop. Respondents were asked questions on the acreage for operations, the prices producers are able to bring in, primary and secondary uses for the crop, acreage for operations and outdoor hemp production.

The department also included the areas it was interested in including smokable hemp, CBD, fiber, seeds and grains for consumption. Hamer also adds that the results will not only guide producers into cultivating hemp but also inform on the type of hemp under production. He also adds that it may impact the policy decisions in the hemp industry.

The study finds that hemp is being cultivated for its different products including grain, seed and fiber. It found that floral hemp came from most of the acreage from a total of about 16,000 acres and was valued at $623 million. However, the market for floral hemp is facing stumbling blocks because of a lack of federal regulation around marketing cannabinoid products derived from hemp. Stakeholders have said that sound legislation such as the bill from Rep. Chellie Pingree (D-ME) could improve the segment.

Furthermore, the study also reveals a reduction in hemp production, which stakeholders have been monitoring for years. For example in January 2019, a report by an advocacy group found that the hemp cultivated in the United States covered about 78,000 acres in comparison to the 54,200 acres mentioned in the study. According to Jonathan Miller, general counsel for the U.S. Hemp Roundtable, burdensome testing requirements and the lack of regulations for CBD products is leading to the decline in hemp production. A possible solution would come from Congress passing legislation that regulates CBD.

The USDA has placed strict THC requirements for cultivators and processors resulting in a significant inequality between the acreage of hemp plants harvested across many states. This might become a thing of the past if Congress passes the Pingree-sponsored bill known as the Hemp Advancement Act. The bill seeks to raise the legal threshold of THC concentration in hemp products from 0.3% to 1%.

There are plans for such reports to be produced every year, but according to a NASS representative, that is only possible if there is funding. The periodic surveys are necessary because they help regulators and policymakers track how different stakeholders, including entities making hemp-derived pharmaceutical-grade products such as Flora Growth Corp. (NASDAQ: FLGC), are faring in this rapidly evolving landscape.

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420 with CNW — Wells Fargo Blames Shortage of Truck Drivers on Federal Cannabis Prohibition, Drug Testing

During a recent conference call, Wells Fargo Securities head of equity strategy Chris Harvey stated that federal cannabis criminalization plus the resulting mandates for drug testing have caused the worker shortages and increasing costs being observed in the transportation sector.

He addressed this issue during the call, highlighting the challenges linked to marijuana testing within the trucking sector. Harvey explained that trucker costs, transportation costs and logistics were all increasing, noting this trend would persist for a while as drug testing was implemented in different states.

Federal transportation regulations state that safety-sensitive roles require drug-testing policies. However, while opponents of marijuana legalization and advocates are in agreement that no person should be operating a vehicle when intoxicated, they also note that THC metabolites can easily be detected inside an individual’s system even weeks after they consumed cannabis. Harvey explained that this mandate excluded a considerable portion of the trucker industry, which would make the tight market much tighter.

This is backed up by data released by the New York Post last year, which showed that since January 2020, more than 72,000 heavy truck drivers lost their jobs or licenses because of failing THC tests. The correlation between cannabis policy and workforce shortages has also been highlighted by a congressman who recently suggested that federally legalizing cannabis would resolve the staffing issues at the U.S. Postal Service and prevent government employees from losing their employment.

Strict testing policies for drugs in various government agencies and the federal prohibition of cannabis have had a negative effect on jobs, hindering individuals who are qualified from submitting applications for specific job opportunities and increasing the risk of others losing their jobs if they use a cannabis product.

Many hope that this will soon change if cannabis is legalized, because several agencies updated their employment policies after hemp was federally legalized. This employment issue affects the government as well as private industry, and has prompted some major firms in America to reconsider their policies for drug testing as more states across the country legalize the use of cannabis for recreational and/or medical use.

Companies such as Amazon have begun changing their cannabis policies internally; Amazon recently enacted a policy change in employment that would eliminate the need for pre-employment cannabis drug testing for the greater fraction of its workers. The change in policy also states that the company will no longer focus on cannabis in its comprehensive drug screening program for positions that aren’t overseen by the transportation department.

As more companies revise their workplace drug-testing rules, more people will be less apprehensive about using the cannabis products made by licensed manufacturers such as Cannabis Strategic Ventures Inc. (OTC: NUGS) since there will be no risk of jeopardizing their employment.

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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Optimistic of Positive Study Results, Eyes ‘Most Exciting Year Ever’

Lexaria Bioscience Corp. (NASDAQ: LEXX) achieved myriad milestones in 2021, with CEO Chris Bunka noting in an annual letter to shareholders that January 2021 marked the birth of a modern version of the company. A recent article contains excerpts from the letter, in which Bunka writes, “During 2021, we completed research & development (‘R&D’) and validating work equal to or greater than all the combined amount previously completed since 2018! We have conducted studies across broad areas of interest but also concentrated in specific areas where we have supportive data,” In 2021, Lexaria’s most significant area of investigation was DehydraTECH(TM)-processed cannabidiol (“CBD”) for the potential treatment of hypertension and heart disease. And starting in April or possibly sooner, the company plans to begin dosing in its largest-ever hypertension study. Before this spring, Lexaria also plans to launch a complex animal study evaluating DehydraTECH-CBD as a potential treatment to inhibit seizure activity. The company will also pursue efficacy modeling through 2022 with DehydraTECH-CBD in animals for other possible therapeutic indications, in addition to launching a human study evaluating DehydraTECH’s ability to promote nicotine delivery characteristics in oral tissue. “The goal of our three major studies is to generate sufficient data to support either regulated IND-type applications or to stimulate corporate partnering within their appropriate market sectors. We are optimistic of positive results — noting that science can be unpredictable — and, if so, expect 2022 to be our most exciting year ever!”

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

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids and nicotine by 5-10x and, in some instances with cannabinoids by as much as 27x compared to standard industry formulations, reduce time of onset from one to two hours to minutes, and mask unwanted tastes. The technology is also being evaluated for orally administered anti-viral drugs, non-steroidal anti-inflammatory drugs (“NSAIDs”), PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 23 patents granted and over 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Appoints Jessie Casner as CMO to Guide Multinational Marketing Campaign Objectives

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, continues to strengthen its executive bench with the appointment of Jessie Casner as the company’s chief marketing officer. Casner joins Flora from the recently acquired Vessel brand, where she served as vice president of sales and marketing. Casner’s experience in brand marketing will assist in driving the rapid growth of Flora’s core CPG brands, including Vessel, Tonino Lamborghini, Mind Naturals, Stardog, and others. “I’m excited to welcome Jessie Casner as our chief marketing officer,” said Luis Merchan, CEO of Flora Growth. “This appointment is another example of our commitment to invest in human capital at all levels of the organization. Jessie’s expertise in go-to-market strategy and consumer marketing make her the right choice to guide our multinational marketing campaign objectives for both Flora and our growing portfolio of brands.”

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About Flora Growth Corp.

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420 with CNW — New Study Reveals Benefits of Hemp Extract on Sleep Quality, Stress Management

A study using Charlotte’s Web Original Formula shows the positive effect of hemp extract products on managing stress and improving sleep quality. Charlotte’s Web is well known for producing CBD oils, tinctures, capsules gummies, capsules and pet products made with hemp extracts.

The company was part of the Radicle ACES (Advancing CBD Education and Science) study organized by Radicle Science, a health company that validates health and wellness products. The study relied on data from U.S.-based participants who used Charlotte’s Web Original Formula. The participants would use the product for four weeks and would be tracked for key health outcomes including quality of life, general well-being, feeling of daily stress and discomfort levels.

The researchers used standardized scientific methods for analyzing their findings. According to Tim Orr, president of Charlotte’s Web Labs, the company relies on science, which is why it took part in the study. He also said that the company’s involvement with a third-party researcher to report on the effective nature of its wellness product would build long-term trust between the company and the consumer.

Tens of millions of Americans use CBD products every day. Therefore, according to Jeff Chenm, cofounder of Radical Science, the use of science to prove the effectiveness of cannabidiol products should help in creating trust and transparency within the industry.

Findings from the study confirmed the benefits of the hemp extracts found in Charlotte’s Web products. The study revealed that people who took Charlotte Web’s Original Formula noticed a distinctive improvement in their well-being and quality of life. Many of the respondents also noticed an improvement in the quality of sleep and feelings of daily stress in comparison to before they started taking the products. On average, significant improvements were noted in participants in comparison to control group participants, who did not use any hemp extract.

An estimated 64% of the participants with stress symptoms noticed clinically meaningful improvements after taking Charlotte Web’s Original Formula in comparison to 22% of the control group members. In comparison to 15% of the members of the control group, 60% of participants with sleep issues noted a clinically meaningful improvement in their quality of sleep.

Using the World Health Organization Well Being Index for assessment, participants who used Charlotte Web’s Original Formula experienced a 74% significant improvement.

Moreover, the study also revealed that the company’s products were tied to significant improvements within one week of use. According to company CEO Jacques Tortoroli, the research contributed to increasing trust on the safety and effectiveness of hemp by providing transparency to consumers, regulators and healthcare providers.

These research findings are good for the sector in general and industry players such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) in particular because there is a growing body of verifiable data showing that consumers can enjoy therapeutic benefits when they use various cannabis products.

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420 with CNW — Studies Find That Cannabis May Help with COVID-19 Recovery

New research has shown how cannabinoids may be helpful in post-COVID recovery.

Surviving the deadly coronavirus is not easy. In most cases, the virus damages the body in ways that can be felt even after an individual tests negative. The most common symptoms of the coronavirus include shortness of breath, colds, fever and a dry cough. The severity and duration of symptoms is different for every individual; some will experience the symptoms for a much longer period. Other symptoms include difficulty breathing, fatigue, stomach pains, chest pains, muscle pain, brain fog, heart palpitations and headaches.

The primary compounds found in cannabis, such as CBD (cannabidiol) and THC (tetrahydrocannabinol), have shown promise in earlier studies for treating and preventing the coronavirus. The studies have found that these compounds also help patients recover quickly.

One of these studies found that CBD and CVN (cannabivarin), which is another cannabinoid found in the cannabis plant, can treat long COVID. The researchers discovered that when CVN and CBD were administered simultaneously, they helped down-regulate proteins such as IL-6, NRP1, TSP and ACE2, which the coronavirus damages or upregulates during infection.

A separate study carried out by Rabin Medical Center researchers conducted an analysis of CBD’s impact on 11 patients with severe coronavirus infections. Eight of these patients recorded improvements in their infections. However, more studies with a bigger group of participants are needed to support these findings. Dr. Iliya Kagan, who is in charge of the ICU unit at Rabin Medical Center, explained that health-care providers saw a decrease in signs of the coronavirus infection after cannabis oil was administered.

Another study conducted in the Klagenfurt Hospital that involved physicians using marijuana to treat patients with the coronavirus also indicated that CBD was a promising treatment. This is the only hospital in Austria that uses CBD to treat patients with coronavirus infections. Dr. Rudolf Likar, who was a part of this study, stated that they administered CBD to 50 patients and noted a drop in levels of infection.

For their study, the doctors administered 200mg of cannabidiol to patients in the intensive care unit, then upped the dosage to 300mg after a period of time. They discovered that patients who received cannabidiol healed from this deadly infection much faster than those who received other medications. The researchers theorize that CBD could help boost the immune system because of its anti-inflammatory compounds; they do indicate that more research needs to be done to confirm the findings.

Such research suggests that users of cannabis products made by companies such as American Cannabis Partners may be deriving wellness benefits that are yet to be fully documented.

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