420 with CNW — Florida Legislators Consider Limiting Potency of Medical Cannabis

A legislation whose objective is to limit the amount of THC found in medical marijuana may soon advance to the house floor, despite opposition from medical professionals. Republican Rep. Spencer Roach, who sponsored the legislation, stated that the goal of House Bill 1455 was to regulate the medical marijuana industry in the state of Florida.

The bill would not only impose advertising restrictions on physicians who administer medical marijuana but also limit the amount of marijuana a treatment center could dispense over a particular period of time. One provision in the measure that seems to be drawing the most resistance is a 10% potency limit that will be imposed on smokeable flower. Typically, the THC level in a medical marijuana plant ranges between 25%–30%.

During a House Healthcare Appropriations Subcommittee meeting, Roach stated that there wasn’t a credible scientific study that demonstrated THC’s medicinal value in concentrations above 10%. This, he said, was the basis for the 10% limit on smokable flower.

Generally speaking, the bans imposed on research on medical cannabis, both at the federal and state level, have led to an overall lack of medical cannabis research.

Democratic Rep. Carlos Guillermo Smith stated that this limitation would threaten access to smokable cannabis flower for medical users while also disrupting the cannabis industry in the state. At the moment, many cultivators of medical marijuana grow plants that have high THC levels.

Smith added that because cultivators were required to grow the cannabis within the state’s borders under the state’s climate conditions, they would not be able to grow flowers at 10% or less as would be required under this new legislation. Despite offering amendments that would begin a study on the effects of high THC amounts, none of Smith’s reforms were accepted.

Roach claimed that the state’s medical cannabis program had become a recreational drug use program that was operating disguised as a medical cannabis program. While debating, Roach maintained that this year, 71% of all medical marijuana prescriptions had been filed by 12% of qualified doctors, with some physicians prescribing large amounts of medical marijuana. This is despite revealing that he had not consulted with any medical marijuana physicians.

However, physicians are refuting these claims. During a Zoom meeting held after the legislation was passed, a group of physicians who certify patients for medical marijuana cards in the state challenged the Roach’s claims. One of them, Barry Gordon, is the owner of Compassionate Cannabis Clinic and a former ER doctor.

As the debate on how potent medical cannabis products need to be in Florida, a number of companies are hard at work developing therapeutic formulations from marijuana in order to make the plant more precise and effective as a medicine. An example of a company in this category is XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), which is undertaking clinical trials to ascertain the efficacy and safety of several formulations, including an oral THC strip intended to treat nausea and anorexia.

NOTE TO INVESTORS: The latest news and updates relating to XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) are available in the company’s newsroom at https://cnw.fm/XPHYF

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 — Key Congressman Reveals Cannabis Banking Will Be Handled Before Legalization Is Considered

America’s state-legal cannabis industry has had quite a run, creating thousands of job opportunities, providing states with millions of dollars in tax revenue, and changing the lives of thousands of individuals with prior cannabis-related offenses. Despite achieving so much in a relatively short time, the sector has a lot stacked against it due to its status as a controlled substance at the federal level. One major challenge the industry has faced so far is lack of access to financial services, as banks and lending institutions shy away from working with cannabis businesses.

According to a Congressman who has been an ardent supporter of cannabis reform, financial institutions may soon be able to work with state-legal cannabis businesses without fear of federal reprisals. The Secure and Fair Enforcement (“SAFE”) Act, which protects banks working with cannabis businesses, was reintroduced in the House and will advance, said co-sponsor Earl Blumenauer during a press call alongside other co-sponsors of the bill.

Lawmakers plan to pass the banking legislation first before they begin working on more comprehensive legalization legislation because lack of banking access has become a public safety crisis, Blumenauer says. With banks staying away from marijuana businesses, those businesses are forced to work on a cash-only basis, making them prime targets for theft and burglary. The coronavirus pandemic added additional risk, placing workers in situations where handling cash may increase their risk of infection. Even though comprehensive cannabis reform will eventually come, the banking issue needs to be addressed as soon as possible, Blumenauer says.

Not everyone was of that opinion, with some advocates arguing back in 2019 that Congress should have focused on comprehensive cannabis reform, specifically social equity, instead of banking. Sherrod Brown, the newly appointed Banking Committee Chair, is of the same school of thought.

He has said that he is willing to hold a hearing on the banking reform legislation on the condition that it is passed together with provisions that aid individuals with prior cannabis-related offenses. Thousands of lives have been ruined by the failed war on drugs, and lawmakers need to figure out how to help everyone in prison because of cannabis-related offenses before he can move on the bill, he says.

It looks like the pro-cannabis reform legislators still have work to reach a measure of consensus regarding which reform issues need to be tackled first by the Democrats who now control both Congress and Senate.

Meanwhile, Canada legalized the cannabis industry years back, and sector players are enjoying the benefits of that legalization. Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF), for example, has distinguished itself as the undisputed leader in the extracts segment, which is worth $2.7 billion every year in Canada.

NOTE TO INVESTORS: The latest news and updates relating to Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) are available in the company’s newsroom at https://cnw.fm/PULL

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CannabisNewsBreaks – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Prepares for Upcoming Retail Launch of Vapes and Gummies

Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, today announced its purchase of over 500 kg of high-potency dry cannabis flower. The purchase is in preparation for next month’s launch of retail sales of the company’s Pure Pulls vapes and Pure Chews edible gummies. Demand for these types of products is strong in the four provinces (British Columbia, Alberta, Saskatchewan and Ontario) that Pure Extracts is targeting for its retail launch, and revenue estimates associated with this shipment are just over $1,000,000. “Q2 is going to be very exciting for us as we commence retail sales of vapes and gummies through our distribution partner,” said Pure Extracts CEO, Ben Nikolaevsky, in the news release. “Our exceptionally pure products are in high demand and we have a range in potencies and flavours that consumers will certainly enjoy.”

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

About Pure Extracts Technologies Corp.

Pure Extracts features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. On Sept. 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act and the company’s stock began trading on the Canadian Securities Exchange (“CSE”) on Nov. 5, 2020. For more information, visit the company’s website at www.PureExtractsCorp.com.

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

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CanadianCannabisWire (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 — Study Finds That Marijuana May Reduce Blood Pressure in Older Individuals

After decades of prohibition, several states in the country have been decriminalizing cannabis and setting up legal markets. Encouraged by research and anecdotal evidence about marijuana’s numerous potential medical benefits, thousands of people have been turning to the controversial plant to cure what ails them, often with encouraging results. Cannabis has been found to be effective against chronic pain, inflammation, neurological and mental disorders as well as sleep disorders.

A new study from Negrev, Israel, has come to a conclusion that could have major implications for millions of Americans. Noticing an increase in the number of older people who were using cannabis and hemp extract cannabidiol (“CBD”), researchers from Ben-Gurion University launched the study to see how cannabis use affected those individuals. After studying a group of older people, the researchers found that regular cannabis use lowers diastolic and systolic blood pressure for people aged 60 and older who had hypertension.

The study had 26 participants who were diagnosed with the condition and had a prescription for cannabis. The researchers observed and studied the participants for three months, performing a variety of tests such as blood pressure monitoring, anthropometric measurements, ECG and blood tests. They recorded a five-point drop in systolic pressure and a 4.5 point-drop in diastolic pressure; systolic pressure is the higher number in the blood pressure reading while diastolic pressure is the lower number.

The team from Ben-Gurion University also noted that the number of “normal dippers,” meaning individuals whose blood pressure dips at night, increased from 27.3% at the start of the study to 45.5% after three months. They believe this drop in blood pressure may be due to cannabis’ ability to relieve pain. Whatever the reason, the results of this study are important for the more than 100 million Americans living with hypertension.

Hypertension is a major cause of heart disease, with an estimated 500,000 deaths per year being hypertension related, the U.S. Centers for Disease Control and Prevention reports. If researchers can find enough evidence to prove that cannabis and CBD can alleviate the condition, it would be a reprieve for millions of Americans who are constantly at risk of developing fatal conditions because of hypertension.

Similar studies are being conducted across the globe as the world realizes marijuana’s immense medical potential. However, the American Heart Association notes that progress in the United States has been held back because federal law classifies cannabis as a controlled substance, hindering proper research.

Lots of companies are aware of the medical potential of different cannabis compounds. This may be why Green Hygienics Holdings Inc. (OTCQB: GRYN) specializes in manufacturing bioactive cannabinoids that meet the requirements of the pharmaceutical industry.

NOTE TO INVESTORS: The latest news and updates relating to Green Hygienics Holdings Inc. (OTCQB: GRYN) are available in the company’s newsroom at http://cnw.fm/GRYN

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420 with CNW — The Different Forms of THC and the Benefits They Possess

If you’ve heard of CBD, then you’ve probably heard of THC too. THC, known as tetrahydrocannabinol, holds the psychoactive properties of cannabis and is the dominant compound found in the plant. This, together with its many potential medical benefits, make it the most popular marijuana compound.

Did you know, however, that there are tour types of THC that occur naturally in marijuana? The major types are Delta 9 THC, Delta 8THC, THCV and THCA. There also exists a manmade form of THC, known as Delta 10 THC. All these THC types have varying therapeutic potentials and are chemically unique. We discuss all of them below.

Delta 9 THC

This is the main psychoactive compound found in the marijuana plant and is commonly referred to as THC. The compound can be used to manage pain with recent research showing that it can also be used to manage digestive issues such as wasting syndrome and nausea.

It’s also used for brain cell regeneration and has the following therapeutic uses: muscle relaxer, epilepsy relief, antimicrobial, antioxidant and sleep aid.

Delta 8 THC

It is said that the high a person gets from Delta 8 THC is energetic and clear headed. However, the high can vary based on personal body chemistry, tolerance, and strength or type of product consumed; for example, it’s dependent on whether you ingested and edible or smoked flowers.

The compound is said to be great for helping individuals struggling with PTSD, depression, anxiety and other mental health conditions. The compound also possesses analgesic, antioxidant and neuroprotective properties.

Tetrahydrocannabivarin (“THCV”)

This is another byproduct of the decarboxylation process. Consumption of the compound in high doses will result in a high. However, the compound isn’t psychoactive in low doses.

The compound suppresses an individual’s appetite, with some research noting that if you want to lose weight, consuming a strain with an almost even ratio of CBD and THCV will help. Studies have also found that the compound has the ability to decrease insulin resistance and regulate blood sugar levels.

THCA

In full, the compound is known as Tetrahydrocannabinolic acid and is referred to as THC in its most natural form. The compound is found in raw marijuana plants and is commonly used as a dietary enhancement and nutritional supplement.

When heat is applied to the compound, it loses its carboxyl acid group through a process known as decarboxylation, forming THC. This compound can be found anywhere on the plant, including in its flowers, leaves and stems. It should be noted, however, that on its own, THCA has no psychoactive properties. The mind-altering effects are brought about by the decarboxylation process.

Delta 10 THC

This is a synthetic form of THC accidentally developed by Fusion Farms, which is based in Adelanto, California. The compound’s crystals were found to be similar to cannabichromene (“CBC”) but not a precise match.

From the above, we can see that THC, in its different forms, possesses numerous benefits with various uses, ranging from neurological disorder treatment to pain relief. And with potential medical uses still unknown or being studied, it would be safe to assume that there isn’t much THC cannot do.

At the moment, THC is still holding sway on the cannabis market, and companies such as Gage Growth Corp. (dba Gage Cannabis) are hard at work to meet the needs of the medical and recreational segments of the industry.

NOTE TO INVESTORS: The latest news and updates relating to Gage Growth Corp. (d.b.a. Gage Cannabis) are available in the company’s newsroom at https://cnw.fm/GAGE

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MAZAKALI and Satori Investment Partners to place $20,000,000 into Cannabis Industry

MAZAKALI is pleased to announce a strategic alliance with Satori Investment Partners, formed with the intention of placing up to $20,000,000 into cannabis related businesses.

MAZAKALI and Satori will actively seek out opportunities in need of growth capital in an effort to determine an optimal mix of investments for the Satori portfolio.

Investment sizes will range from $1-5 million, and opportunities may be featured on the MAZAKALI Digital Capital Platform for additional funding.

“Our alliance with MAZAKALI allows us to leverage each other’s strengths in the identification of opportunities, allocation of capital, and overall portfolio construction within the cannabis space. We’re excited to pair the MAZAKALI team’s deep network with our investing strategy and we couldn’t be more thrilled for this opportunity to go-live.” says Chris White, Chief Strategy Officer of Satori Investment Partners.

Core investment criteria includes the following:

Experienced Management Team: A record of success within and outside the cannabis industry.
Exemplary Record-Keeping: Transparent financials and general corporate hygiene remain essential.
Positive Cash Flows: A clear path to profitability and growth.
Healthy Market: Operate with some level of measurable competitive advantage in a marketplace that displays healthy supply and demand characteristics.

If you are a cannabis operator and meet these requirements, click HERE to apply for consideration.

“Discipline, diligence and thoughtful diversification are attractive drivers behind Satori’s investment approach. We look forward to lending our cannabis experience and investment depth to target identification and sector allocation as we assist the Satori team with their portfolio needs.” said Sumit Mehta, Founder and CEO of MAZAKALI.

Satori Investment Partners:
Satori Investment Partners is an investment company focused on the cannabis industry. We seek to build value by investing in companies with high potential for cash flow generation and growth. As an investor, Satori will look to actively work with partners to improve business operations and profitability. Satori’s intention is to seek value, experience, integrity, sound corporate hygiene, and competitive advantage within this new frontier.

MAZAKALI:
MAZAKALI’s leadership team began putting capital to work into cannabis in 2014. Today, we offer full scale digital capital raising and investment services across the cannabis complex (Hemp, Real Estate, Supply Chain, Ancillary, International). A Registered Investment Adviser, MAZAKALI offers customized, Separately Managed Accounts (SMAs) to pioneering investors. Operators and issuers work with licensed Investment Bankers to utilize Capital Raise and M&A services. Both come together on our digital capital platform. Securities are offered via a licensed Broker/Dealer

Investing in private placement securities entails a high degree of risk, including illiquidity of the investment and loss of principal. Please read the offering document before investing. Please refer to the Company’s subscription agreement for a discussion of risk factors.

Securities offered through Growth Capital Services, member FINRA, SIPC. Office of Supervisory Jurisdiction located at 582 Market Street, Suite 300, San Francisco, CA 94104

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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The CNW website may contain Third-Party Content articles and other content submitted by third parties, including articles submitted through the CNW Premium Partnership Program. All opinions, statements and representations expressed by such third parties are theirs alone and do not express or represent the views and opinions of CNW or its affiliates and owners. Content created by third parties is the sole responsibility of such third parties, and CNW does not endorse, guarantee or make representations concerning the accuracy and completeness of any third-party content. You acknowledge that by CNW providing you with this internet portal that makes accessible to you the ability to view third party content through the CNW site, CNW does not undertake any obligation to you as a reader of such content or assume any liability relating to such third-party content. CNW expressly disclaims liability relating to such third-party content. CNW and its members, affiliates, successors, assigns, officers, directors, and partners assume no responsibility or liability that may arise from the third-party content, including, but not limited to, responsibility or liability for claims for defamation, libel, slander, infringement, invasion of privacy and publicity rights, fraud, or misrepresentation, or an private right of action under the federal securities laws of the United States or common law. Notwithstanding the foregoing, CNW reserves the right to remove third-party content at any time in its sole discretion. By viewing this third-party content, you acknowledge that you have viewed, read fully, accepted and agreed to all terms of the Disclaimer at https://www.cannabisnewswire.com/disclaimer.

420 with CNW — SD Supreme Court Starts Hearing Voided Marijuana Ballot Measure Case

Cannabis reform advocates in South Dakota are fighting a battle that could ultimately determine the state’s ballot initiative process. On Nov. 3, 2021, South Dakotans voted to pass Amendment A and Measure 26, legislation that would have legalized the recreational and medical use of cannabis respectively, making South Dakota the first state to pass both medical and recreational cannabis measures at the same time. Long before cannabis sales could start, however, a state circuit judge declared the amendment legalizing recreational cannabis unconstitutional in January and voided it.

With the state Supreme Court now considering whether or not the voter-passed initiative was unconstitutional, recreational cannabis advocates say the future of South Dakota’s voter initiative process is at risk. In their opening arguments to the Supreme Court, lawyers Brendan Johnson and Timothy Billion said the case is not just about cannabis but also about the future of the state’s ballot initiative process. They are currently representing several marijuana advocates in the state, including South Dakotans for Better Marijuana Laws.

Soon after voters passed the initiative, Highway Patrol Superintendent Col. Rick Miller, acting on behalf of state Governor Kristi Noem, and Pennington County Sheriff Kevin Thom filed a lawsuit asking the court to void Constitutional Amendment A. Consequently, South Dakota Circuit Court Judge Christina Klinger voided the amendment, declaring it to be unconstitutional. She stated that certain technicalities in the amendment were problematic, arguing that the amendment violated constitutional law that required constitutional amendments to address a solitary subject.

On top of legalizing recreational cannabis, she said that the amendment would make wide-ranging changes to the state government by giving the Department of Revenue the authority to manage the state’s cannabis industry. This was a big win for Governor Noem, who has long been an outspoken opponent of legal cannabis. She opposed the legalization efforts in the first place, and once the amendment was voided, she stated that she most likely wouldn’t sign any recreational cannabis legislation lawmakers sent to her desk this year.

Cannabis advocates announced that they would champion the cause themselves at the lower courts once state Attorney General Jason Ravnsborg stated that his office would not take part in an appeal to overturn the Circuit Court’s ruling in a lower court. South Dakotans for Better Marijuana Laws, a major sponsor of the original legalization bill, has taken the lead in the appeal.

The lawyers representing the recreational cannabis advocates argue that voters have a “fundamental and sacred right” to decide the rights that their constitution guarantees them. While a date for oral arguments has not been set, they have approximately one week left to file their arguments with the court.

While South Dakota appears to have taken several steps backward on its journey to cannabis policy reform, other states are enjoying the innovations enabled by the creation of legal marijuana markets. For example, RYAH Group Inc. has created a popular medical education app called PotBot App, which helps users to match their treatment needs with the different medical cannabis products available.

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

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420 with CNW — NY Medical Cannabis Firms Propose That Legislature Allow Them to Kick-Start Recreational Market

As the state of New York contemplates legalizing cannabis for recreational use, medical marijuana companies are working on persuading the state’s legislature to afford them a stake in the new market. Rather than wait for new marijuana growers to begin from the ground up, the medical marijuana companies stated that they could utilize their already existing infrastructure to provide the new market with a boost.

The New York Medical Cannabis Industry commissioned a pair of reports that assert that allowing medical marijuana firms into the recreational marijuana market in the state as soon as possible would jumpstart new employment opportunities and provide the industry with a boost.

Ngiste Abebe, who is the vice president of medical marijuana company Columbia Care and also happens to be the group’s president, stated that by using the infrastructure and knowledge of the existing providers, New York could bring economic growth to the state at a crucial time in its recovery while also strengthening its reputation as a progressive leader.

Democrats in the state are currently negotiating a system for taxing and regulating the production and sale of cannabis for adult recreational use. The Democrats involved on the issue are confident that they could come to a full legalization agreement by March’s end.

However, this may not be so easy to achieve given that Gov. Andrew Cuomo has a different proposal to legalize cannabis, which conflicts with the legislators’ measure. In the recent past, the governor has clashed with legislators over how the tax revenue generated from the new recreational cannabis industry should be utilized.

There may still be hope though. With Connecticut, Vermont and New Jersey having legalized marijuana, the state of New York is under new pressure to legalize the drug. Legislators in the state are seeking new ways to generate revenue in the long term from the new industry.

Reports estimate that, depending on demand, the annual revenue potential of the state of New York’s recreational cannabis market will be between $300 million and $700 million. Analysts forecast that the state’s recreational cannabis industry will reach its maximum revenue potential three or four years after legalization.

This is where medical marijuana companies come in. The companies assert that they could use their infrastructure, which is already in place, to help supply the new recreational market in the state at the beginning, until more growers enter the market. The companies also noted that they already had the means to grow more marijuana as well as the equipment needed to test its potency, to package products and to distribute them to retailers.

However, they would need authorization from the legislature to enter the recreational market, which some legislators are not buying, arguing that keeping the recreational and medical cannabis industries separate is the best option.

As lawmakers in the Empire State discuss the finer details of cannabis legalization in the state, companies in other jurisdictions that have regulated cannabis markets are reaping massive benefits. Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF), for example, registered 42% year-over-year growth in the third quarter of 2020, a sign of better things to come.

NOTE TO INVESTORS: The latest news and updates relating to Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF) are available in the company’s newsroom at https://cnw.fm/GLDFF

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CBDNewsBreaks – Grapefruit USA Inc. (GPFT) Announces Increased Bioavailabilty for Flagship THC/CBD-Infused Cream

Grapefruit USA (OTCQB: GPFT), a premiere, fully licensed California-based cannabis company, has reached another technological milestone in the proprietary manufacturing process for its patented, disruptive Hourglass(TM) time-release THC+ cannabinoid delivery cream. In the announcement, the company noted that continued research and analysis of the manufacturing process have led to a substantial reduction in the size of the cream’s THC/CBD-infused particles. The mean particle size now measures 8.2 microns compared to previous samples, which averaged 33.1 and 29.9 microns. The company consistently analyzes the process with the intent of reducing the size of the infused particles, which leads to an increased bioavailability of Hourglass’ active ingredients. “We constantly strive to improve the quality of our Hourglass time-release THC+ cannabinoid delivery cream so our clientele is always the beneficiary of the best possible full-spectrum entourage experience we can deliver,” said Grapefruit CEO Bradley Yourist in the press release. “We performed several particle size analyses on the structure of the Hourglass cream as part of our manufacturing protocols in an effort to fine tune the process and produce a cream capable of delivering the best possible experience to Hourglass users. Our efforts have paid dividends. We are currently in the process of adapting our proprietary manufacturing protocols to our new hemp-derived CBD cream. No CBD competitor’s topical products will be able match the consistency and technology of our hemp-derived CBD creams to deliver Hourglass’ stellar results.”

To view the full press release, visit https://cnw.fm/Oq1oO

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 www.GrapefruitBlvd.com.

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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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420 with CNW — Wyoming House Committee Passes Republican-Sponsored Cannabis Legalization Bill

Last week, a Wyoming House committee passed a legislation to legalize cannabis and discussed another proposal that would require that state agencies research and issue recommendations on allowing medical marijuana.The adult-use legalization bill’s lead sponsor is the chair of the Judiciary Committee. The legislation would allow individuals aged 21 and above to buy and possess up to 3 cannabis ounces and grow up to 12 mature cannabis plants for personal use.

The proposal, which was co-sponsored by other top Republican legislators and the House speaker, got a 6-3 vote after receiving testimonies from the public and state agencies, which included former U.S. senator and Rhode Island Governor Lincoln Chafee, who now lives in Wyoming. Chafee revealed that he supported the bill, stating that the legislation would create a profitable revenue stream.

Chairman Jared Olsen observed that this marked an important moment for the state of Wyoming and mentioned recent surveys that showed public support for the change in policy, both nationally as well as in the state, noting that in several of the states, voters had passed legalization measures through the ballot. Olsen said that if the legislature failed to act, he expected Wyoming voters to help end marijuana prohibition.

The chairman also said that if a legalization measure led by voters was approved, the legislative process wouldn’t design the regulation of cannabis, stating that instead, the public via ballot measure would decide what it would look like as well as what it would entail.

Wyoming’s neighbors, South Dakota and Montana, are two of the jurisdictions that passed cannabis legalization ballot initiatives during the 2020 November elections.

Olsen encouraged the committee to approve his legislation, which would impose a 30% tax on cannabis sales. Two-thirds of tax revenue generated from cannabis sales would be directed to public schools while the remainder would be allotted to individual jurisdictions that permit cannabis retail locations in their areas.

Some of the legislators who voted to pass the legislation in the committee revealed that they weren’t sure how they would vote on the floor or that they’d oppose it, with some noting that they were pro-advancing the bill so that the full body would be afforded the chance to discuss this important issue.

If approved, the law would come into effect on July 1 this year. However, the legislation doesn’t contain any measures that reveal when sales would commence or how soon licenses would be issued to prospective retailers.

Smart Approaches to Marijuana’s executive vice president Luke Niforatos was one of the people who gave testimony against the legislation. The organization is a political organization that opposes marijuana legalization and commercialization.

The often polarized debate on cannabis regularly obscures the fact that not all cannabis products have the intoxicating compound THC. In fact, many firms, such as The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER), manufacture plenty of products such as salves, drinks and tinctures that are infused with CBD, a non-intoxicating cannabinoid.

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