420 with CNW — California Disburses $100M in Support of Cannabis Business Development

Last week, officials in California announced that the state had allocated $100 million in funding for the development of local cannabis markets, which would initially be used to help marijuana businesses become fully licensed. The California Department of Cannabis Control distributed the funds to 17 counties and cities where there are unequal numbers of provisional cannabis licenses. Some funding was also directed to areas with established social equity programs. This comes months after the department’s announcement that it was accepting applications for the local jurisdiction assistance grant program.

The temporary licensing category was scheduled to expire on Jan. 1, 2022, before the deadline was extended to afford localities additional time to meet environmental requirements and complete the permitting process. Nicole Elliott, director of the Department of Cannabis Control, stated that the grant funding being given to the local jurisdictions would help meet the needs of these communities as well as assist both the local and state governments to achieve their short-term and long-term goals.

The primary purposes of the funding include the following:

Assist in completion of environmental evaluations and new initiatives for renewable energy and water protection.
Facilitate the integration of IT systems to streamline license processing.
Provide funds for the hire of additional staff to process significant workloads associated with business transitions into the regulated marijuana market.

The department also provided examples of how different localities had proposed to use the funds. For instance, the county and city of San Francisco stated that they would use the funds to create new staff positions that would support the efficient and quick processing of marijuana permits. In its proposal, Los Angeles stated that it would use the funds to employ more personnel to administer California Environmental Quality Act processes as well as help licensees complete locally administered processes to achieve licensure annually.

Similarly, Long Beach proposed that it would use a portion of the funding to support technology improvements, website design and training as well as hire consultants and staff to help streamline local processing applications and permitting processes. In a separate move, the Governor’s Office of Business and Economic Development plans to award $35 million for a Marijuana Equity Grants program for local jurisdictions, which has been designed to assist local equity program efforts to support equity licensees and applicants.

In New York, the governor announced last week that her administration would establish a public-private fund that would be used to promote social equity in New York’s growing cannabis market.

The entire cannabis industry in California, including players such as Cannabis Strategic Ventures Inc. (OTC: NUGS), may be happy that the state is taking steps to ease the formalization process of entities that have been finding it hard to regularize their operations in accordance with state law. This will level the playing field for all concerned.

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 — CPG Trends That Marijuana Businesses Should Consider Implementing

Since the pandemic begun, there have been shifts in consumer purchasing habits with emerging technologies and packaging innovations such as digitization, remote analytics and AI leading to the development of a new level of company efficiencies. While not every packaging innovation can be applied to marijuana firms, some trends transforming the consumer packaged goods sector should be considered, including the following:

AI and Digitization

Digitization is helping improve product traceability and develop packaging automation efficiencies in the consumer packaged goods sector. The marijuana sector doesn’t have industry software solutions that allow them to collect, organize and analyze their packaging and production performance automatically. This addition would do all this while helping streamline operations significantly.

Contract packaging

Contract packaging allows companies that aren’t ready to financially invest in equipment to decrease packaging labor by contracting out some of their services to other entities. Contracting another business to assemble their goods into finished products allows companies to concentrate on other aspects of what they do. Contract packaging can also help save on costs.

More efficient packaging technologies

The objective of packaging automation in the consumer packaged goods sector is efficiency and speed. While marijuana product manufacturers don’t necessarily need to perform at the same speed as other sectors, efficiency is still important to automation practices.

As more automation companies continue to customize for marijuana needs, we may see the use of more efficient technology. Senior VP of ActionPac Scales & Automation Amelia Dishion stated that learning how to adapt automation equipment that is already in use to fit the needs of marijuana could help. Dishion gave the example of vertical bagging, which is a user-friendly, efficient and fast packaging process that uses flexible, thin packaging for various products.

Given that marijuana packaging regulations require a thick film of material for packaging, the machines could be adapted for marijuana regulations to enable them to package marijuana items such as pre-rolls and single-use grams.

Sustainability

A 2020 report by McKinsey shows that consumer packaged goods brands are focused on using biodegradable and recycled packaging options in response to consumer outcry on the impact of plastic packaging on the environment. While sustainable packaging hasn’t yet been adopted on a large scale in the marijuana industry, manufacturers may soon adopt it as the trend is expected to continue as coverage on environmental damage and climate change caused by consumerism grows and more steps are taken by countries around the globe to shift to a green economy.

There are signs that the marijuana industry is waking up to these CPG packaging principles given that companies such as Flora Growth Corp. (NASDAQ: FLGC) are already utilizing some of the techniques above to gain a competitive edge.

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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Leveraging DehydraTECH(TM) to Deliver More Effective Oral Medicine

Lexaria Bioscience Corp. (NASDAQ: LEXX), a global innovator of drug delivery platforms, is increasing the effectiveness of orally administered drugs. With oral absorption being the most convenient and widely used route for taking medications, decades of research have advanced the understanding of critical factors controlling oral bioavailability. Scientists are now better understanding the physiological function and formulation functionality that has been used in designing improved and more desirable oral medicine delivery through extensive research. Lexaria is accomplishing this through its patented DehydraTECH(TM) technology. “DehydraTECH improves the way that active pharmaceutical ingredients (‘APIs’) make their way into the bloodstream. This is achieved by promoting healthier ingestion methods and an increase in the effectiveness of fat-soluble active molecules,” explains a recent article. “Lexaria’s DehydraTECH can be summarized by these major benefits: speeds up delivery; increases bioavailability; increases brain absorption; improves drug potency; reduces drug administration costs; and masks unwanted taste. One of Lexaria’s recent human clinical trials (HYPER-H21-2) using DehydraTECH-processed cannabidiol (‘CBD’) evidenced reduced arterial stiffness. The discovery potentially broadens Lexaria’s application’s ability to treat cardiovascular and other diseases beyond hypertension.”

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

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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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 – Marijuana Company of America Inc.’s (MCOA) Strong Financial Performance Reflects Successful Diversification Capabilities, Organic Growth

Marijuana Company of America (OTC: MCOA) is uniquely positioned to benefit from the cannabis market’s growth and associated opportunities as more states and countries worldwide push for the legalization of cannabis. MCOA offers diverse operations that include its cDistro distribution company, as well as hempsmart(TM) and VBF brands, a premium CBD company and a cannabis nursery cultivation facility in Salinas, California, respectively. In addition, the company is building its portfolio of investments and joint ventures, representing the highest standards of professionalism and integrity in the legal cannabis and industrial hemp markets. “MCOA recently reported a significant milestone, reaching the highest quarterly revenue numbers since its inception, according to the company’s financial results report for the third quarter ending Sept. 30, 2021,” reads a recent article that also quotes MCOA CEO Jesus Quintero. “Our Q3 financial performance was strong and reflects our ability, despite being in a challenging environment, to execute on the strategy by diversifying within the cannabis industry through strategic acquisitions along with organic growth,” Quintero said. He further underlined that the company expects to drive continued growth across the entire business in the coming months.

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

About Marijuana Company of America Inc.

Marijuana Company of America operates and invests in the cannabis sector directly. The company’s operations include C-Distro, one of the fastest growing distribution companies in the THC, Hemp and CBD cannabis industries, and hempsmart(TM), a premium CBD company. The company’s core mission is to leverage its experience and access to capital to identify and invest in acquisitions with unique growth potential. For more information, visit www.MarijuanaCompanyofAmerica.com.

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420 with CNW — New Study Finds Cannabis Breathalyzers Provide Inaccurate Results

New research has found that cannabis breathalyzers are inconsistent in measuring THC impairment. THC (tetrahydrocannabinol) is the primary psychoactive compound in marijuana that induces a high. This compound usually binds with receptors in the brain that control mood and pain, among other feelings.

The study was carried out in Australia by University of Sydney researchers.

For their research, the investigators conducted an analysis of 28 studies on the concentration of THC in saliva and blood and driving performance. The studies included in the analysis focused on how THC divided attention and impacted an individual’s reaction time. These two skills are necessary for safe driving.

The idea of cannabis breathalyzers is based on alcohol breathalyzers, which are used to assess an individual’s blood alcohol levels. These devices are mostly used by law enforcement officers and administered on the road. Alcohol breathalyzers have been used efficiently for a while now to provide relatively accurate evaluations on intoxication levels and how they impact a person’s driving skills.

However, marijuana breathalyzers don’t seem to be doing the same in providing accurate levels of THC impairment. The researchers’ analysis showed that the link between driving performance and THC impairment was inconsistent. Despite this inconsistency, the researchers also discovered strong connections between impairment and levels of THC in inexperienced marijuana users. However, once marijuana users used the herb several times in a week, these connections disappeared.

In their report, the lead author of the study, Dr. Danielle McCartney, stated that higher concentrations of THC in the blood were weakly linked to increased impairment in occasional marijuana users while no notable relationship was found in regular users of marijuana. McCartney noted that this finding suggests that oral and blood fluid THC concentrations are not the best indicators of marijuana-THC-induced impairment.

Prior studies have also found that THC intoxication presents differently in individuals, as a person who is experienced with marijuana may have the same THC levels in their blood as a person who is inexperienced with it. This means that while the compound can impair an individual’s driving skills, the two individuals will likely have different responses to the drug and how impaired they are by it.

Cannabis breathalyzers were considered to be a solution for solving driving while under the influence of THC, which is an issue that many associate with cannabis legalization. However, this study has highlighted that the devices need to measure a different biomarker in order to provide an accurate assessment of intoxication, as at the moment, they can only prove that an individual has consumed THC.

The controversy over how to ascertain that someone is driving while impaired by marijuana is in a way similar to the inconsistencies that cannabis beverage makers such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) have been facing regarding how many infused drinks a customer can buy at a go while adhering to the total THC concentration limit set by Health Canada as the marijuana laws were formulated.

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420 with CNW — Report Finds State-Legal Cannabis Markets Have Generated $10B in Taxes

Cannabis is without a doubt one of the fastest-growing industries in America. Despite being relatively young, America’s state-legal cannabis industry has been quite lucrative, generating billions of dollars in revenue and creating hundreds of thousands of new job opportunities. According to a newly released report on the industry, marijuana has been extremely kind to state coffers; since 2014, cannabis sales have provided states with legal marijuana markets more than $10 billion in tax revenue.

The Marijuana Policy Project report states that since Colorado and Washington state sanctioned recreational cannabis sales in 2012, a wave of cannabis reform has swept across the country. By December 2021, 18 states in total had legalized adult-use cannabis and earned a whopping $10.4 billion in tax from cannabis sales. Since most marijuana reform laws had a strong emphasis on social equity, a significant portion of the billions of tax dollars has been used to fund various social equity programs, the report says.

According to Karen O’Keefe, the director of state policies at Marijuana Policy Project, the states that chose to legalize recreational cannabis have reaped “significant economic benefits” from the controversial but in-demand plant. The tax revenue from cannabis sales has been used to fund several public services, including ones meant to reinvest in communities that were disproportionately affected by the war on drugs. Compared to the decades-long drug war, which cost taxpayers billions of dollars per year, cannabis reform is actually pouring money back into the community, especially for the most disadvantaged ones.

The drug war was ostensibly started to address drug abuse rates and defund the criminal enterprises behind the drug trade, but after decades of intense policing and harsh sentencing, Black and Latino communities around the country were left decimated. Most states with legal cannabis markets have earmarked funds from marijuana taxes to help address this damage. Alaska, for instance, directs half of its recreational cannabis sales taxes to the Recidivism Reduction Fund as well as reentry programs for current and former convicts.

In California, more than $100 million in cannabis sales taxes have been dispensed to nonprofit and community groups that aid individuals who were negatively affected by the drug war. The state, which collected around $817 million in cannabis sales revenue in the fiscal year 2020–21, announced last year that it would provide grants worth $29 million to 58 organizations to help alleviate the effects of the failed drug war. Colorado has invested almost $500 million in the public school system while Illinois is spending a portion of its cannabis tax revenue on much-needed mental health services.

These huge numbers with respect to the taxes and fees that states have collected from the marijuana industry are a reflection of how quickly sector players such as American Cannabis Partners have scaled their operations so as to meet the growing demand for legally sourced cannabis products.

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CannabisNewsBreaks – Alternative Products Expo Announces March Debut with Thousands of Products Under One Roof

The first Alternative Products Expo of 2022 will be held March 11–13, 2022, at the Broward County Convention Center in Ft. Lauderdale, Florida. Formerly known as the USA CBD Expo, the Alternative Products Expo features more than 50 expert speakers and insightful presentations, as well as more than 300 vendors providing a look at thousands of alternative products. Presented by 3Chi, the nation’s largest CBN and Delta-8 distributor, the upcoming expo builds on the foundation established by the USA CBD Expo, which had grown to become North America’s largest CBD-focused event. The new event has added a more comprehensive overview into the alternative product ecosystem and includes a focus on products such as functional beverages, cannabis derivatives, vape products, mood enhancers, herbal products, energy boost supplements and dietary supplements. The expo is a must-attend event for both industry newcomers and professionals with educational seminars, keynote addresses, workshops and networking opportunities.

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About Alternative Products Expo

The USA CBD Expo is rebranding as the Alternative Products Expo to better reflect the variety of exhibitors on the trade show’s floor. The Alternative Products Expo, or AltPro Expo, was created with the idea of bringing together an assortment of industries and the disruptive products and services all under one roof. For more information about the company, visit www.AltProExpo.com

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CannabisNewsBreaks – BevCanna Enterprises Inc.’s (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) Strong Financial Results Evidence Continued Execution, Brands’ Impact on Market

BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health and wellness beverage and natural products company, recently released its unaudited financial results for the fiscal quarter ended Sept. 30, 2021. The company saw revenues increase by more than 1,000% to $1.1 million with a gross profit of $356,168, a significant turnaround from the loss of $40,280 recorded in Q3 2020. A recent article quotes BevCanna Chief Financial Officer John Campbell as saying, “As we closed out the third quarter, we delivered impressive revenue growth of more than 1,000%, achieving $1.1 million in sales, compared to $94,000 in the year-ago quarter… Our third-quarter results are further evidence of the company’s continued execution and the impact that our brands are having on the market.” BevCanna has recorded a number of operational highlights over the past few weeks, which have contributed to its top-line revenue growth. A key driver of this growth has been the receipt of initial product listings and purchase orders, which in turn have resulted in shipments to British Columbia and Ontario. “BevCanna Enterprises has also worked towards broadening its product portfolio… [and] has arrived at a definitive agreement to acquire Embark Health Inc.”

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

About BevCanna Enterprises Inc.

BevCanna Enterprises is a diversified health and wellness beverage and natural products company. BevCanna develops and manufactures a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients. With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP-certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with top U.S. cannabis beverage company Keef Brands. For more information about the company, visit www.BevCanna.com.

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CannabisNewsBreaks – Cannabis Strategic Ventures Inc. (NUGS) Strengthening Position Amid Growing Support for Cannabis Legalization

Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. cannabis marketplace, is one of the companies set to benefit as a growing number of Americans across various age groups and political affiliations support the legalization of cannabis. While cannabis remains an illegal substance federally, a growing number of states have legalized the substance. Cannabis Strategic Ventures, which is establishing a strong foothold in the industry, is guided by the vision to acquire and scale assets in the legal cannabis market while achieving efficiencies through economies of scale and vertical integration. A recent article reads, “As part of that vision, Cannabis Strategic Ventures owns NUGS Farm North, a six-acre cannabis farm in Northern California. In addition, the company is committed to taking other steps to strengthen its position in the growing market, including working toward taking operational control of each license. The company also recently celebrated the opening of its cannabis dispensary and is looking to deploy another license to establish an indoor cultivation facility with capacity to produce two to three pounds of premium cannabis flower per light, per harvest.”

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

About Cannabis Strategic Ventures Inc.

Cannabis Strategic Ventures is one of the largest publicly traded marijuana cultivators in the United States. The company is Los Angeles-based and incubates, develops and partners with category leaders within the cannabis and ancillary sectors. The firm’s NUGS brand experience provides operational and financial strategic partnerships and a range of essential services to emerging and existing Cannabis consumer brands. For more information, visit www.CannabisStrategic.com.

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420 with CNW — Illinois Breaks Yet Another Cannabis Sales Record in December

All things considered, 2021 was a pretty good year for cannabis. Unlike most sectors, the state-legal cannabis industry didn’t take much of a beating from the coronavirus pandemic, and when 2021 came to a close, cannabis businesses across the country were doing relatively well. So while businesses in other industries were struggling to recover from the crippling effects of the pandemic, marijuana sellers were making bank. For Illinois, 2021 was probably the best year the state’s cannabis industry had ever seen.

Cannabis sellers in Illinois sold cannabis worth a whopping $137.9 million in December 2021, breaking yet another monthly sales record. December was the market’s best-selling month, with the state’s cannabis industry breaking the monthly record of $127.8 million in sales that was set in July. Furthermore, says the Illinois Department of Financial and Professional Regulation, marijuana sales in Illinois doubled over the course of the year from $669 million in 2020 to a whopping $1.4 billion in 2021.

Illinois residents made up the majority of the cannabis market, buying $943 million worth of cannabis products while out-of-state visitors purchased marijuana products worth more than $436 million. The year was also quite lucrative for the taxman. Since taxes on legal sales can be up to 40% of the price, the state was able to collect $387 million worth of taxes from cannabis sales. More than one-third of the tax funds were earmarked for the state general revenue fund, with 10% going to unpaid bills, 8% going to law enforcement and 2% going to public safety campaigns.

The Restore, Reinvent and Renew program diverted almost a quarter of every marijuana dollar to social equity programs targeting communities that had been disproportionately affected by the war on drugs. The funds were used to provide these communities with crucial services such as youth development, legal aid, financial support and community reentry. In December 2021, state officials announced that the state would provide $45 million in grants to communities that were harmed most by the decades-long drug war.

To identify such communities and determine their social equity eligibility, officials examined community-level data on child poverty, unemployment, gun injury and state prison commitments. Speaking at a press conference in December 2021, Illinois Governor J.B. Pritzker said that it was time to address the damage caused by the failed war on drugs. He said that what set Illinois apart from other states was its commitment to reinvesting in these impacted communities now that cannabis is legal. Earlier last year, the Restore, Reinvent and Renew program distributed $31.5 million in social equity grants to 80 organizations.

This boom in marijuana sales may suggest that cannabis sector players in that market such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) may have cracked the code of what the consumers in that market need, hence the record sales.

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

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