420 with CNW — Study Finds Banking Activity Grows Once a State Legalizes Cannabis

Cannabis businesses often find it difficult to get banks willing to take them on as clients because of the risks posed by the federal prohibition of marijuana. Now new research has found that once a state legalizes cannabis, banking activity increases. While the study doesn’t directly link increased banking activity and state-level cannabis reform, it does imply the existence of the relationship.

The study was conducted by researchers from Drexel University, the University of Arizona, Scripps College and San Diego State University.

For their study, the researchers looked into banking trends in states that have legalized marijuana, examining the Federal Deposit Insurance Corporation’s bank regulatory filings in the 2011–2016 period. The researchers conducted an analysis of data from more than 150,000 bank-quarter observations sourced from almost 7,000 different banks located in 46 states.

They discovered evidence showing significant increases in banking activity, i.e., deposits and subsequent loans, in states that had legalized marijuana in comparison to those that had not. For example in their report, they highlighted that bank lending grew by between 6.5–8.6% and deposits grew by an average range of 3.1–4.3% after states legalized marijuana.

This is despite the fact that credit unions and banks may be penalized by federal regulators for working with businesses dealing with marijuana as the drug is still classified as a controlled substance under the Controlled Substances Act.

As of June 2021, 705 financial institutions had filed reports stating that they were serving marijuana clients. While this is a slight increase from the 687 institutions who filed requisite reports in the previous quarter, it’s still below the 747 recorded in late 2019.

In their paper, the researchers also discussed possibilities of why the risk from regulatory uncertainty didn’t reduce the willingness of banks to make loans or accept deposits. They reasoned that the increase suggested that banks were either optimistic that regulations would probably adapt to the needs of states that had legalized marijuana or unconcerned about the possible risk linked to accepting marijuana related deposits.

The researchers note that evidence for instances where these financial institutions lose their federally insured status or are criminally prosecuted is lacking, which makes sense why banks don’t necessarily respond to the legislative uncertainty for federal marijuana prohibition.

The group observed that as more state regulators issued statements supporting credit unions and banks that served the marijuana industry, financial institutions would become more optimistic about the chance that regulations will be adjusted in their favor with time. This would ultimately mean that cannabis sector actors such as Cannabis Strategic Ventures Inc. (OTC: NUGS) would have more options to choose from when they need different banking services.

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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 — Thailand Reveals Plan to Legalize Recreational Cannabis

Cannabis reform is sweeping across the globe and undoing decades of prohibition. While the West has been the leader in cannabis legislation, the movement hasn’t been constrained to America, Canada and European nations. In Asia, Thailand entered the history books as the first southeast Asian country to legalize cannabis for medical use and in cosmetics and food. Three years after Thailand made history, the country is planning to legalize marijuana and do away with jail terms for people charged with marijuana possession.

Thailand’s Food and Drug Administration is poised to propose the removal of the controversial plant from the country’s list of restricted drugs to the Office of the Narcotics Control Board. Once the board clears the proposal, it will head to the health minister for approval. If the proposal is successful, Thailand will be one step closer to legalizing adult-use cannabis, another first in the region. There will be no more jail terms for cannabis offenses, and people won’t have to worry about long stints in jail for cannabis possession.

Currently, marijuana possession is punishable by up to 15 years in jail in Thailand. According to Thailand FDA’s deputy secretary-general Withid Sariddeechaikool, the move to decriminalize cannabis in the country will benefit its citizens. Thailand could take advantage of not just certain parts of the plant such as the flower but the entire plant, he says. If the government is able to decriminalize cannabis, the plant’s flower buds and seeds could provide a viable economic opportunity that is compliant with the law. And given how lucrative America’s cannabis market has been, Thailand could potentially generate a significant amount of money from cannabis sales.

However, the country has taken a slower legalization route, starting with rules to loosen marijuana possession and use rules. Interestingly, individual possession of marijuana is still prohibited by the law, but businesses have more access to the plant. Krungsri Research analyst Chaiwat Sowcharoensuk says that companies which produce soaps, cosmetics and beauty products stand to gain the most from reduced cannabis prohibition. As lawmakers change laws to allow the sale and use of every part of the cannabis plant, he says, it is likely that recreational use will be controlled.

Regardless, Thailand has still made noteworthy strides, especially considering how harshly countries in the southeast Asia region have treated drug offenses in the past. Historically, countries such as the Philippines, Indonesia, Singapore, Malaysia and Vietnam have issued extremely punitive punishments, including the death penalty, for drug use.

The steps being taken by Thailand could set a precedent that other southeast Asian countries may emulate, which could open up huge markets that internationally focused firms such as Flora Growth Corp. (NASDAQ: FLGC) could serve.

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Strategically Pursuing Vertical Integration

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) is riding the popularity of its trademarked Platinum Vape to remarkable revenue growth, recording a 93% year-over-year increase in its recently released third-quarter financial report. “The financial results note that the majority of the company’s revenue comes from sales of cannabis finished products through third-party wholesaling to retailers, delivering quarterly revenue of $11.8 million and EBITDA of $5.9 million that reverses an EBITDA loss of $5.8 million in Q3 2020 for a gain of $11.9 million,” reads a recent article, which also includes comments by RWB chairman and CEO Brad Rogers as well as CFO Chris Ecken. On his part, Rogers said, “In the third quarter, we made excellent progress in laying additional building blocks in our core operating states of Florida, Michigan and California to become more vertically integrated where it will be most profitable… This will help drive increased revenue and margins for the company.” Ecken further added, “RWB is being very strategic in pursuing vertical integration only when there is value to be added. We aim to be asset light and brand rich.”

To view the full article, visit https://cnw.fm/OfGf8

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.

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW — A Look at the Link Between Marijuana and Inflammation

Inflammation personifies the saying “too much of a good thing is bad.” Despite being one of the body’s first responders in case of infection or physical injury, inflammation also presents a significant risk to health. Acute inflammation is the body’s initial response to either infection or injury, and it is a crucial component of the body’s defense system. Chronic inflammation, on the other hand, happens when the body keeps sending inflammatory cells when there’s no present danger.

A wide variety of medical inflammations including Alzheimer’s disease, asthma, heart disease and cancer can be traced to chronic inflammation. This kind of inflammation usually results in symptoms such as pain in the abdomen, chest and joints, as well as fever, fatigue, headaches, swelling, mood disorders, and skin rashes. Current pharmaceutical medications for chronic inflammation can be quite effective at mitigating the condition, but they tend to cause adverse side effects after long-term use. Unsurprisingly, cannabis has emerged as a viable alternative due to its potent anti-inflammatory properties.

Studies have found that cannabis can function as an effective anti-inflammation agent because of how cannabinoids such as THC and CBD interact with the body. When you ingest cannabis, the cannabinoids interact with the endocannabinoid system (“ECS”), a part of the peripheral nervous system that regulates various functions, including immune response, sleep, appetite and mood. The ECS is filled with CB1 and CB2 receptors that normally respond to naturally produced endocannabinoids similar to the ones in cannabis. By interacting with this system, cannabis helps to inhibit chronic inflammation and mitigates its symptoms.

For instance, a study involving patients afflicted with Crohn’s disease found that 10 out of 11 participants enjoyed some relief from the condition after consuming marijuana. And since cannabis generally has no adverse side effects, the patients were able to avoid the adverse effects that usually result from long-term pharmaceutical drug use.

The controversial plant appears to be effective at easing the symptoms of cancer and cancer treatment, including nausea, insomnia and lack of appetite. HIV patients can also benefit from cannabis treatment as it can alleviate a variety of symptoms and significantly improve the quality of their lives.

Even with the limited research available, cannabis presents an effective alternative to pharmaceuticals for treating inflammatory conditions. Its side effects are inconveniences at best, and the substance can deliver a significant reduction in chronic inflammation. Consult your doctor if you would like to use cannabis to treat an inflammatory condition, and the doctor could also advise you about the best type of product for your needs, including the possibility of using a cannabis beverage made by one of the leading brands such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC).

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420 with CNW — Three Trends That Could Define the Cannabis Sector for Decades to Come

Recent years have seen acceleration in the movement to reform marijuana policies not only in the United States but around the world. With that momentum, a number of trends that appear to have staying power have taken shape. We look at some of those trends and what impact they could have on the industry going forward.

Cannabis and health/wellness

Gone are the days when marijuana was viewed as a substance intended for people who simply want to get high. Today, this plant has developed strong links with the health and wellness industries, a link that is likely to be a defining factor in the way the marijuana industry evolves.

For example, many states that legalize marijuana start out by legalizing its medicinal use before recreational use eventually comes into the picture. The legalization of medical marijuana sends a strong message that potential therapeutic benefits exist for users of this substance, and that inevitably spills over to those who wish to support their wellness, even if they aren’t battling any specific ailment.

Cannatourism

The decades of prohibition of marijuana and the recent wave of legalizations has piqued the interest of people around the world. Even in the U.S., cannabis tourism is thriving, with states such as Oregon, Colorado and California earning millions from out-of-state visitors who enter the state to sample available products, to visit cannabis grow facilities and to learn about this controversial plant. The Netherlands has also been a magnet for cannatourists for years. Tourism with a cannabis twist is likely to gain steam in the coming years.

Technology

The numerous challenges that the marijuana industry faces have compelled players in this sector to look to technology for solutions. For example, the need to stand out from other competitors in the industry has led many businesses to leverage technology in order to come up with superior strains whose cannabinoid and terpene profile delivers an unmatched consumer experience.

Many companies have also come up with app-based solutions in order to reach their target customers and address the needs of those customers more effectively, especially companies that specialize in medical marijuana and want to track how the patients who use their products are progressing.

Many trends emerge and fade away fairly quickly, but these three trends appear poised to make their mark on the industry not just this year but for many more years to come as more states and countries cast their prohibitive laws aside.

These trends are likely to support industry growth at a high rate, and as the industry grows, so will the different companies such as American Cannabis Partners that are operating in the space.

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CBDNewsBreaks – Vantage Hemp Co. is in the Final Stages of its DMF Submissions

The usage of CBD as an active pharmaceutical ingredient is creating an overwhelming need for CBD manufacturers to identify their processes used in the manufacturing, packaging, and storing of pharmaceutical drug ingredients. On their way to set the industry bar, Colorado-based CBD manufacturer, Vantage Hemp Co., announces the company is in its final stages of its Drug Master File submissions to the US Food & Drug Administration. As one of the first CBD companies to file DMFs for all of its ingredients, Vantage is providing the FDA with confidential and detailed information about the quality and safety of its products. These submissions can be referenced by Vantage’s pharmaceutical partners when applying for FDA approval of their drug product.

To view the full press release, visit https://cnw.fm/fS9Hq

About Vantage Hemp Co.

With large-scale extraction facilities, Colorado-based Vantage Hemp Co. delivers pharmaceutical-grade GMP compliant CBD extracts (including full-spectrum oil, distillate and isolate) that companies can trust. Vantage’s contract manufacturing services offer a broad range of benefits as they operate with integrity and abide by stringent pharmaceutical-production standards to provide quality products to their partners.

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CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Submits NNCP Filing with Health Canada

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company, announced that it has filed Form 8-K with Health Canada; the filing is GPFT’s Notice of New Cannabis Product (“NNCP”) with Health Canada. Once GPFT receives approval of the NNCP from Health Canada, the company will be able to offer its patented Hourglass(TM) Time Release THC+CBD-Infused Topical Delivery Cream under the Canadian Federal Cannabis Act throughout Canada. The act, which became effective in 2018, provides national guidelines for legal access to cannabis as well as the product, distribution and sale of the substance. Canada became the second country in the world to formally legalize the cultivation, possession, acquisition and consumption of cannabis and cannabis-based products; it is the first G7 and G20 nation to federally legalize cannabis. Health Canada is the Canadian federal government licensing authority that oversees the implementation of the act, and all cannabis products must meet its federal regulatory requirements before they can be sold in Canada. “A filing on Form 8-K is only appropriate for truly material events,” said Grapefruit CEO and cofounder Bradley J. Yourist in the press release. “The filing of the NNCP is one of the most material events in Grapefruit’s history, as approval by Health Canada will allow us to commence sales of Hourglass technology-based THC and THC/CBD products in the largest federally legal cannabis market in the world. The world’s best cannabis topical delivery cream will then be available in the world’s largest national legal THC market — a perfect complement to Grapefruit’s California sales of THC/CBD Hourglass products and worldwide sales of Hourglass technology powered non-THC, hemp-based CBD products.”

To view the full message, visit https://cnw.fm/hVEyN

About Grapefruit USA Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, California. To find out more about the company, please visit https://GrapefruitBlvd.com.

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CannabisNewsBreaks – Marijuana Company of America Inc. (MCOA) Announces Strategic Distribution Agreement Between Wholly Owned cDistro and dosist health

Marijuana Company of America (OTC: MCOA), a diversified holding company with operations and investments throughout the cannabis industry, today announced that its wholly owned subsidiary cDistro has reached an agreement with dosist health to distribute its award-winning line of high concentration CBD+ formulas and products. According to the update, cDistro will expand the rapidly growing distribution locations for dosist health CBD products to drive sales and further establish cDistro in the distribution marketplace. “This agreement represents a tremendous opportunity for cDistro,” said cDistro’s President Ron Russo. “I look forward to working with dosist health and their award-winning product portfolio to provide industry leading sales and service execution to some of the nation’s largest and fast-growing smoke and vape shops, wholesalers, c-stores, specialty retailers and large retail chains.”

To view the full press release, visit https://cnw.fm/9TxpK

About Marijuana Company of America Inc.

Marijuana Company of America operates and invests in the cannabis sector directly. MCOA’s wholly owned operations include: CDistro — one of the THC, hemp and CBD cannabis industries’ fastest growing distribution companies, hempsmart(TM) — a premium CBD company, and VBF Brands Inc. — a cannabis nursery cultivation facility in Salinas, California, which is a cultivator and distributor utilizing its own growing systems to produce desirable cannabis clones. The company’s core mission is to leverage its experience and access to capital to identify and invest in acquisitions with unique growth potential in the cannabis and CBD marketplace. For more information, visit www.MarijuanaCompanyofAmerica.com.

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420 with CNW — Spanish Study Finds That Young Cannabis Users Enjoy Better Sexual Function, Orgasms

According to a Spanish study published in December 2021, young people who smoke cannabis and consume alcohol tend to enjoy an overall superior sexual function and orgasms when compared to their peers who don’t smoke cannabis or don’t drink alcohol.

The research team was motivated to undertake this study because much of the existing scientific data on this subject tended to be contradictory, with some studies indicating that marijuana consumption improved sex life while others concluded that smoking marijuana had a detrimental effect on an individual’s sex life. The team based at Almeria University decided to design its own observational study in order to assess the effects of cannabis consumption on sexual function. The team opted to use the top three frequently used surveys that help in identifying potentially risky cannabis and alcohol use, in addition to ascertaining what effects that had on sexual function.

In the first six months of 2020, a total of 89 males and 185 females were assessed in accordance with the study design of the research team. These individuals were all in the age bracket of 18 to 30 years of age, and each participant was either a regular marijuana user or a regular user of alcohol or they didn’t use either of the two substances of interest. The team excluded anyone who had diabetes, high blood pressure and other conditions that could impact the person’s sexual function. Those using other substances such as MDMA or opiates were also excluded.

The researchers found that the individuals categorized as being in the high-risk group of cannabis consumers yet belonging to the moderate risk group of alcohol users exhibited better sexual function and orgasms. Additionally, individuals who used alcohol a lot tended to report a lower sexual function when compared to the marijuana high-risk group.

The University of Almeria team posits that cannabis helps to remove shame and anxiety, which could explain why high-risk users of this substance report better sexual function and orgasms. The researchers didn’t observe any significant differences between the sexual function of females and that of males in the study.

The team believes that by focusing on a younger demographic, they may have found the reason why previous studies on the subject reported contradictory findings. This is because older study subjects, especially males, were prone to declining sexual function, unlike the 18 to 30 year-old group, which rarely reports cases of erectile dysfunction.

The researchers note that future studies need to explore any potential effects on sexual function and orgasms among cannabis and alcohol users with respect to the different kinds of relationships, such as long-term relationships vs. sporadic or one-off encounters.

Such studies on marijuana would be further enriched if they made use of some of the existing hi-tech devices such as the RYAH Smart Inhaler manufactured by RYAH Group Inc. (CSE: RYAH) while documenting the precise dosage of marijuana that participants are taking during the sessions of interest.

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420 with CNW — SAFE Banking Act Sponsor Vows to See Bill Passed Before He Retires

Operating in the legal cannabis space is no mean feat. Due to the plant’s federal status as a controlled substance, marijuana businesses have to deal with a lot of issues that players in other industries don’t even have to think of. For starters, most banks refuse to work with marijuana businesses in fear of federal reprisals, forcing the businesses to operate on a largely cash-only basis. This makes accounting and filing taxes extremely cumbersome and makes the business prime targets for criminals.

For quite a while, industry stakeholders have argued for some kind of policy or regulation that would allow these companies access banking services. The only lawmaker who heeded the call was Rep. Ed Perlmutter, who introduced the Secure and Fair Enforcement (“SAFE”) Banking Act to the House of Representatives in March 2019. The legislation would prohibit federal banking regulators from penalizing banks that provided financial services to legal cannabis businesses. Despite the potential benefits it could provide to the industry, the SAFE Banking Act did not gain the traction it needed to advance.

While the House has approved some form of the SAFE Banking Act, it failed to advance past the Senate in any form even when the Democrats had majority votes. Perlmutter, who recently announced that he would be retiring from Congress come next election, says this has left him “pretty irritated.” Senate Majority Leader Chuck Schumer has consistently stood in the way of his bipartisan legislation. Schumer has been working on a federal legalization bill with federal lawmakers for some time now, and he does not want banking legislation before comprehensive cannabis reform is enacted.

With Perlmutter now in his final days as a lawmaker, he says he will use his remaining time to push the SAFE Banking Act and see get it approved. He “absolutely” believes that if the bill lands on President Joe Biden’s desk, the president will sign it into law. Forty-seven states now have some kind of marijuana market, he says, and this greatly underscores the need for “legitimate banking services.” So although he’s a frustrated with the SAFE Banking Act’s lack of progress, Perlmutter believes that the bill’s passage is a “no brainer.”

He plans on playing a major role in helping to establish cannabis banking and hopes legislators will be able to get the bill through the senate and onto the president’s desk by the end of the year. If this law were to be enacted, cannabis sector players such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) would have one less regulatory hurdle to face in their bid to expand their operations and address the needs of more consumers.

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