Category: CannabisNewsWire Release

10th Annual CWCBExpo To Offer News on Latest Trends & Ideas In The Cannabis Industry

As New York and the Tri-State area are being touted as one of the largest cannabis hubs in recent times, the CWCBExpo is perfectly timed to bring together the cannabis industry in New York. A premier B2B expo on the East Coast, the CWCBExpo, June 5-6 at the Javits Center in New York, brings in two days of networking events and learning sessions by prominent influencers in the industry. The event will witness industry leaders, investors, influencers, business executives, dispensary owners, educators, medical practitioners, and some of the brightest minds in the cannabis and hemp spectrum.

The CWCBExpo has been hosting events since 2014, offering the cannabis community a common forum for networking and education. Attendees connect with the industry veterans and peers to engage, learn, and collaborate with the best cannabis business opportunities in the market.

Eminent personas from the cannabis spectrum will conduct keynote/speaker sessions discussing some of the most pivotal topics of the cannabis industry, including Josh Kesselman, founder and CEO of HBI International/RAW Rolling Papers. They will share in-depth insights, and speak about the discoveries and latest innovations in the cannabis market.

Several cannabis and hemp companies and service providers will display their products and innovative ideas at the exhibitor booths. The CWCBExpo offers a phenomenal platform for exhibitors to showcase their products and services amongst the top businesses, retailers, and investors of the cannabis community. Investors and businessmen looking for fresh avenues of investment can discover tremendous talent at these exhibitor booths.

Get industry updates, connect with potential investors and collaborators, and leverage the best business opportunities this event has to offer. Apart from the educational sessions and exhibitor displays, the expo hosts several networking opportunities to the attendees including a B2B Rooftop Networking Bash, Women in Cannabis Business Luncheon, Industry Yacht Party, and the NYCRA’s After Party.

To learn more please visit https://cnw.fm/rVsCf & https://cnw.fm/qfcOX.

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
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420 with CNW — Marijuana Companies Ask Court to Stream Online Proceedings of Case Against Federal Prohibition

Leading cannabis companies are urging a federal court to permit the public to attend a hearing virtually in a lawsuit where the companies are requesting protection for in-state marijuana activities from federal interference. The U.S. Department of Justice has stated it holds “no stance” on this request.

The hearing will take place before the United States District Court for the Western Division of the District of Massachusetts. The plaintiffs’ attorneys highlighted in a motion that the disagreement raises issues of public interest. They reported receiving a lot of requests from the media to watch the hearing online, as most can’t be present in person.

Further, they argue that permitting remote access to the hearing will not prejudice any parties involved. They suggest that access by phone or video conference would be adequate. They also mentioned that they consulted with the defendant’s counsel, who confirmed that the defendant has no stance on the motion.

The lawsuit, titled Canna Provisions vs. Garland, is spearheaded by Verano Holdings Corp., a multistate cannabis operator, alongside Massachusetts-based marijuana companies Wiseacre Farm and Canna Provisions as well as Gyasi Sellers, the CEO of Treevit.

Leading the lawsuit is David Boies, who has previously represented clients such as former vice president Al Gore, the DOJ and plaintiffs in the lawsuit that resulted in the repeal of California’s same-sex marriage statute.

In their lawsuit, the companies argue that the federal prohibition of cannabis lacks justification, especially given the widespread legalization of cannabis in states and the federal government’s generally noninterventionist stance on the matter.

Last month, the plaintiffs requested oral arguments, a request granted by Judge Mark G. Mastroianni, an appointee of President Barak Obama. In response, the DOJ maintained its neutral position.

Central to the case is whether in-state marijuana activity impacts interstate commerce. The federal government contends that marijuana legalization draws tourists from other states, thereby affecting interstate commerce. In a recent filing, the DOJ contended that it makes sense to conclude that Massachusetts’s legal cannabis market stimulates marijuana tourism, a distinct type of cannabis-related interstate commerce.

The DOJ’s brief referenced a Supreme Court decision from decades ago, affirming Congress’s jurisdiction to regulate establishments attracting out-of-state tourists, even if the transactions occur entirely within the state. Conversely, the plaintiffs argue that the Commerce Clause of the Constitution should not allow the DOJ to interfere in activities legal within state borders, as the state itself regulates these.

The recent motion follows an announcement by President Joseph Biden that his administration is formally reclassifying cannabis. A proposal to place marijuana in Schedule III is set to be published in the Federal Register soon.

The planned regulation change was approved by Attorney General Merrick Garland, one of the main defendants in this case. However, rescheduling marijuana would not equate to federal legalization, and it appears unlikely that this rulemaking will impact the DOJ’s stance in the ongoing court case.

Cannabis industry actors such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) await the completion of the rulemaking process so that they can map out their future plans accordingly.

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. 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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
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Software Effective Solutions Corp. (SFWJ) Subsidiary Expands Global Footprint, Becomes Leading Infrastructure Supplier for Colombia’s Top Flower Producers

  • MedCana subsidiary is expanding reach both domestically and internationally
  • Company is strengthening support, sales operations through international partnerships
  • Eko2o is at the forefront of providing innovative agricultural technology and infrastructure solutions

Eko2o S.A.S., a subsidiary of Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ), is experiencing significant growth and success, as evidenced by recent news that it has become a key infrastructure supplier for some of Colombia’s largest flower producers (https://cnw.fm/PI8yO). In addition, Eko2o is strengthening its support and sales operations through international partnerships and collaborations, including with Danziger International.

“Our solutions stand out in the market, and we are delighted to witness our company’s growth as we expand our reach both domestically and internationally,” said Eko2o CEO Juan Ricardo Velez. In the announcement, the company noted that it has solidified its reputation as a leading provider of greenhouse infrastructure and agricultural technology.

Earlier this year, the company entered into a “pivotal” agreement with Danziger Colombia (https://cnw.fm/YxwtB). The agreement is projected to generate between $2.5 million and $3 million in revenue over the next three years and represents the commitment both organizations have to innovative agricultural practices. The agreement noted that Eko2o would provide greenhouse infrastructure services, irrigation products and technology and other technologies related to Danziger’s flower operations in Colombia.

That initial agreement led to Eko2o’s expanding collaboration with Danziger International, marking a significant step in Eko2o’s strategy to increase its global footprint, leveraging its expertise to support one of the flower industry’s most respected names. “This collaboration is expected to boost Eko2o’s visibility on the international stage and foster new opportunities in global markets,” the company noted in the announcement.

Eko2o’s commitment to excellence and innovation continues to attract the attention of major industry players, contributing to Colombia’s reputation as a leader in floriculture and agricultural technology. The company is at the forefront of providing innovative agricultural technology and infrastructure solutions. As a leading provider in Colombia, Eko2o is dedicated to enhancing agricultural productivity and sustainability through cutting-edge technologies and services that support farmers and agricultural businesses in achieving higher yields and operational efficiency.

MedCana, operating under Software Effective Solutions Corp., is a pioneer in the integration of technology and agriculture, focusing on the cannabis market and emerging technologies in agriculture. With a vision to revolutionize the industry through innovation, MedCana is dedicated to acquiring and partnering with companies that align with its mission of promoting sustainable and technologically advanced agricultural practices.

For more information, visit the company’s website at www.MedCana.net.

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

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

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Golden Triangle Ventures Inc. (GTVH) Subsidiary Shares New Business Model Based on Key Pillars to Ensure Success

  • Strategic four-pillar business model provides essential piece of Lavish Entertainment’s mission to create an industry-leading entertainment business
  • New model “represents a bold step forward in our journey to develop Lavish Entertainment into a staple in the entertainment industry,” states CEO
  • The company plans to develop, acquire operations in each of plan’s four areas

At the core of Golden Triangle Ventures’ (OTC: GTVH) purpose of pursuing ventures in the health, entertainment and technology sectors lies its focus on vertical integration to cut costs and maximize margins. One of the company’s newest ventures — Lavish Entertainment, its entertainment division — embodies this focus, as evidenced by its recently released four-pillar business model (https://cnw.fm/jQ33l).

According to GTVH, this strategic framework provides an essential piece of Lavish Entertainment’s mission to create an industry-leading entertainment business. The company’s new model includes key foundational elements — logistics, staffing, equipment and production — that were carefully identified and organized to complement each other and ensure seamless operations across all facets of the company.

“We are thrilled to introduce our innovative four-pillar business model, which represents a bold step forward in our journey to develop Lavish Entertainment into a staple in the entertainment industry,” said Marco Antonio Moreno, president and COO at Lavish Entertainment. “We look forward to showing our shareholders how this new business model will unfold.”

With its new business model as a backdrop, Lavish Entertainment plans to develop and acquire operations in each of the four areas of the plan. Specifically, the announcement noted that “effective logistics are the backbone of any successful entertainment operation” and that “by establishing a dedicated logistics business, Lavish Entertainment can streamline its event-planning processes, ensure seamless coordination of resources and services, minimize delays, and enhance overall efficiency.”

In addition, the company’s staffing, or talent and manpower, are indispensable assets in the entertainment industry. “Whether it’s skilled technicians, event coordinators or guest services personnel, assembling the right team is essential for delivering memorable experiences,” the company stated. “Lavish Entertainment’s staffing division will focus on recruiting, training and managing a diverse array of talent to meet the demands of its multifaceted operations.”

Equipment is equally important to Lavish Entertainment’s corporate vision, which calls for cutting-edge equipment and state-of-the-art technology, both indispensable for creating an immersive entertainment experience. The company’s comprehensive strategy, the announcement noted, will “focus on acquiring, maintaining and upgrading a vast equipment inventory to support a diverse range of productions and events. Top-tier equipment will allow Lavish Entertainment to push the boundaries of creativity and innovation, deliver memorable experiences, and leave forever lasting impressions.”

Production is the final pillar in the business model. “Whether it’s designing captivating stage sets, crafting compelling narratives or executing seamless live performances, the art of production is paramount for success,” the company stated. “The level of expertise in production makes the difference between uninspired and unforgettable. It is essential for bringing creative visions to life and is a critical pillar to advance Lavish Entertainment forward.”

The company noted that this strategic business model is specifically applicable to the company’s flagship project: Destino Ranch. Strategically located to be accessible to tens of thousands of visitors a day, Destino Ranch is destined to become a modern art and music festival mecca. The one-of-a-kind location will combine the natural beauty of the Mojave Desert with an immersive, world-class art installation gallery and a large-scale music venue to become an international destination that rivals Coachella and other well-known festival sites.

Golden Triangle Ventures is a multifaceted consulting company that operates as a parent business pursuing ventures in the health, entertainment and technology sectors, along with other areas that provide synergistic value to these three core divisions. The company aims to purchase, acquire and/or joint venture with established entities within these areas of business. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors the company aims to do business in.

For more information, visit the company’s website at www.GoldenTriangleInc.com.

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

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is powered by IBN

420 with CNW — Biden Welcomes Marijuana Reclassification, Slams ‘Failed Approach’


The U.S. Department of Justice (DOJ) has moved to reschedule marijuana as a less-hazardous narcotic, marking the most substantial drug-policy reform in the nation in more than half a century. President Joseph Biden celebrated the move as a crucial step toward correcting historical injustices.

This marks a notable shift for President Biden, who, 30 years ago, was instrumental in crafting stringent crime legislation that is now a source of political contention. This change could bolster Biden’s appeal among younger voters, a demographic crucial for his re-election campaign.

The new proposal, announced on May 16, 2024, stops short of fully legalizing recreational cannabis, which is currently legal in 24 states and DC. Additionally, 38 states have legalized cannabis for medical use.

“Too many lives have been disrupted by our failed marijuana policies,” Biden stated on X. “I’m dedicated to rectifying these historical wrongs,” he added.

The proposal would reclassify cannabis from the restrictive Schedule I of the Controlled Substances Act (CSA) to Schedule III. This change would mean that the federal administration no longer categorizes cannabis with highly dangerous and addictive drugs such as LSD, ecstasy and heroin.

Substances listed under Schedule III are considered to have a lower-to-moderate potential for abuse. Examples of such drugs include testosterone, anabolic steroids and ketamine.

Cannabis has remained classified as a Schedule I substance ever since Congress approved the CSA in 1970. Reclassifying it could significantly benefit the legal marijuana sector by improving access to conventional banking services and attracting external investments.

The policy change could also be a major help to Biden’s attempts to mobilize support from minority and young voters, especially amid widespread discontent over issues such as the conflict in Gaza.

Biden wrote the 1994 crime legislation while he was a senator, which is sometimes faulted for mass incarceration for drug charges, especially involving Blacks. In his 2020 presidential campaign, Biden committed to decriminalizing cannabis use, arguing that no one ought to be imprisoned for small amounts’ possession or usage.

However, he has not supported complete legalization. Instead, his administration has issued mass pardons twice for individuals with federal convictions for marijuana possession.

Referencing his prior actions, Biden reaffirmed on X that no one should be jailed just for possessing or using cannabis. He said, “At the moment, cannabis is ranked higher than methamphetamine and fentanyl, the two drugs fueling the U.S.’s overdose crisis. That disparity is incomprehensible.”

The recent proposal being a detailed approval process, starting with a 60-day public comment period before the change can be enacted.

Any step taken to ease the strict marijuana laws at the federal level is likely to be welcomed by the entire industry, such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), as it would be chipping away at decades of prohibition.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. 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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
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www.CannabisNewsWire.com
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Editor@CannabisNewsWire.com

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Concludes First Dosing for its Second GLP-1 Human Pilot Study; Maintains Study Pace and Rollout for 2024

  • Lexaria, a global innovator in drug delivery platforms, just concluded its first dosing for its glucagon-peptide-1 (“GLP-1”) human pilot study #2, GLP-1-H24-2
  • GLP-1, a class of drugs, has demonstrated the ability to address diabetes and weight loss, albeit with poor oral bioavailability, usually as little as 0.8%
  • Lexaria, through its study, looks to demonstrate the effectiveness of its DehydraTECH(TM) technology in improving GLP-1’s bioavailability, opening up a vast worldwide market

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just concluded its first dosing for its glucagon-peptide-1 (“GLP-1”) human pilot study #2, GLP-1-H24-2 (https://cnw.fm/g0mZl). This follows the recent announcement of an applied research program to evaluate certain molecular characteristics of its patented DehydraTECH(TM) processed GLP-1 drug, semaglutide, related to its mode of action and performance. It also marks a significant milestone in the company’s 2024 research pipeline (https://cnw.fm/uGmp4).

At the beginning of the year, the company resolved to focus on GLP-1 studies for the calendar year, having shown positive results in an 8-week clinical study in 2023/24. This latest milestone followed its recent contract award and independent ethics review board approval in April.

The study will spot three arms, comparing 7 mg semaglutide dose formulations. The first arm used a positive control Rybelsus(R) swallowed tablet, while the second arm – due to be performed in late June – will feature DehydraTECH-semaglutide swallowed capsules. Nearly 5 weeks are required between doses to “wash-out” lingering quantities of drugs between study arms.

The last arm will, for the first time, utilize an in-mouth dissolvable DehydraTECH-semaglutide oral tablet. This study arm will investigate whether DehydraTECH-enhanced semaglutide can be absorbed at any level systemically through the sublingual/buccal tissues of the mouth and throat, and into the bloodstream, with fewer side effects than from swallowed pill administration. It will mostly avoid the stomach’s acidic environment, which seriously degrades GLP-1 drugs that are swallowed, resulting in exceptionally low blood absorption rates.

GLP-1 exhibits poor oral bioavailability, usually as little as 0.8%, despite having demonstrated the ability to address diabetes and weight loss. Lexaria, through its DehydraTECH technology, has proven to significantly improve this bioavailability.

Lexaria looks to follow through with this clinical study, and more, ultimately carving out a significant market share in the diabetes treatment market, projected to reach $134.1 billion by 2030. Its management is optimistic that this will be its biggest year yet, where all its efforts and investments will pay off.

“I am excited about this study; the Lexaria scientific team believes that a dissolvable oral tablet that delivers an effective fraction of semaglutide along with reduced side effects could potentially offer valuable benefits to the pharmaceutical industry that might lead to a higher likelihood of favorable strategic partnering with leading industry players in GLP-1,” noted Chris Bunka, Lexaria’s CEO (https://cnw.fm/iwXCw).

For more information, visit the company’s website at www.LexariaBioscience.com.

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

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

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420 with CNW — New Jersey Lawmaker Introduces Bill Seeking to Cap Medical Cannabis Prices

State officials in New Jersey acknowledge the concerns raised by medical-cannabis patients regarding the steep prices of marijuana products. However, the officials stress their limited authority under existing laws, which grant them no jurisdiction over the pricing policies of dispensaries.

Democratic legislator Senator Troy Singleton is looking to neighboring Pennsylvania for inspiration. Pennsylvania’s medical-cannabis law includes a provision allowing state authorities to impose price limits if marijuana prices become exorbitant. Singleton aims to replicate this provision in New Jersey, proposing a bill that would empower the state’s cannabis regulator to impose price limitations on medical-marijuana providers if their pricing practices are deemed unjustifiably high relative to their operational costs. The limits would be revisited every six months.

Singleton underscores the pressing issue of exorbitant cannabis prices in New Jersey, particularly for medical users. Price caps, in his opinion, can create market pressure and, as a result, result in lower pricing for customers.

Chris Goldstein, an advocate for cannabis reform who closely monitors marijuana prices in both Pennsylvania and New Jersey, draws parallels between the pricing dynamics of marijuana and other commodities. He expressed concerns about corporate greed driving prices upward, noting that despite promises of increased competition bringing prices down, prices have remained stubbornly high in New Jersey.

Critics such as Goldstein attribute the high prices to corporate groups controlling the majority of the cannabis industry in New Jersey. Most cultivators are corporate entities, leaving only a few independent players.

Comparing prices, it’s evident that marijuana is considerably cheaper in Pennsylvania than in New Jersey. For instance, an eighth at Ascend in Fort Lee costs $65 (or $50 on sale), while the same amount is $15 in Scranton, Pennsylvania. Likewise, an eighth at Bordentown’s Curaleaf costs $60, whereas in Harrisburg, Pennsylvania, it’s only $32.50.

Cannabis and disability activist Edward “Lefty” Grimes draws attention to the disparity in cost between legal dispensaries and the traditional market. The high cost of extracted marijuana oil, or “dabs,” is one of his points of contention, as it is far cheaper in the legacy market.

Goldstein laments the persistently high prices of marijuana in New Jersey compared to other states, suggesting that these prices deter people from enrolling in the medical cannabis program. Grimes believes that price-fixing laws are a workable way for legislators to guarantee that individuals suffering from illnesses such as post-traumatic stress disorder (“PTSD”), multiple sclerosis and cancer may obtain inexpensive marijuana products.

While Singleton has championed various bills aimed at reforming the marijuana sector, he acknowledges the challenges of passing such legislation in the legislature. Although the price cap bill has yet to progress, Singleton remains committed to advocating for more accessible pricing in the market.

While the entire cannabis industry including major companies such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) wish that patients and other users get the marijuana products they need at the most affordable prices possible, the wish to put price caps may be concerning given the rapidly changing market conditions on the ground and the slow rate at which regulators respond to such changes.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. 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.

To receive SMS alerts from CNW, text CANNABIS to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: https://www.CannabisNewsWire.com/Disclaimer

CannabisNewsWire
Denver, CO
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is powered by IBN

420 with CNW — Adult-Use Cannabis Sales Could Begin in Ohio by June

The sale of recreational cannabis is on track to commence around mid-June in Ohio following the recent approval of new licensing regulations for dispensaries. Since December 2023, when a voter-approved statute came into effect, the state has been in a state of uncertainty regarding recreational sales.

While individuals 21 years and older were permitted to cultivate and use marijuana at home, the absence of legal avenues for purchase raised concerns about the emergence of a black market, prompting attention from Governor Mike DeWine and certain GOP legislators.

The Joint Committee on Agency Rule Review granted passage to the regulations necessary for a dual-licensing scheme, allowing current medical cannabis dispensaries to expand their offerings to recreational cannabis products. According to Jim Canepa, superintendent of Ohio’s Division of Cannabis Control (DCC), applications for licensing will be accessible by June 7, 2024, in accordance with the stipulations of the new law.

Canepa refrained from speculating on the duration of application approval, citing variable circumstances. However, Ohio Cannabis Coalition spokesman Tom Haren expressed confidence in the readiness of dispensary operators, commending the diligent efforts of the DCC in meeting regulatory deadlines.

The impending rollout of recreational sales has spurred preparations among existing dispensaries, with many expected to pursue dual licenses to accommodate both recreational and medical clientele.

Canepa highlighted the ongoing development of regulatory frameworks, emphasizing the multifaceted approach required for full program implementation by the Sept. 7, 2024, deadline.

Under the new legislation, individuals aged 21 years and older are permitted to purchase and possess up to 2.5 ounces of marijuana, with provisions for home cultivation of up to 6 plants per person or 12 plants per household. A 10% tax will be imposed on sales, with the resultant revenue allocated toward addiction treatment, administrative expenses, municipal dispensaries, social-equity initiatives and employment programs within the marijuana sector.

GOP Representative Jamie Callendar, a proponent of recreational legalization, underscored the efficiency of the regulatory process undertaken by the DCC, contrasting it with previous legislative deliberations. Despite prior contention over proposed amendments to the voter-approved statute, Callendar expressed optimism regarding the viability of the current regulatory framework.

Legislative action may then be required to handle other issues, such as safeguards for business owners, limitations on marketing to minors and child-safety measures. Callendar emphasized the evolving consensus among policymakers, signaling a shift toward acknowledging the program’s potential success.

As Ohio inches closer to legalizing recreational marijuana sales, the collaborative efforts of regulatory bodies and industry stakeholders signal a pragmatic approach toward implementation, fostering cautious optimism among proponents and policymakers alike.

If the recreational marijuana sales kick off as expected in June, there could be opportunities for ancillary entities akin to Innovative Industrial Properties Inc. (NYSE: IIPR) that could also sprout and benefit from serving marijuana businesses in the state.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. 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 — Impact of Federal Marijuana Reclassification on State-Level Programs Remains Unclear

A proposal put forth by Merrick Garland, U.S. Attorney General, calls for a relaxation of federal laws prohibiting marijuana. However, this move does not imply the federal government’s endorsement of medical or recreational marijuana use in the numerous states where it has been legalized.

Shifting cannabis from its current classification as one of the most hazardous and least beneficial substances to a less severe category indicates a desire within the federal government, particularly under Biden’s administration, to alleviate restrictions on a substance that has gained legality in an increasing number of states over the past decade. Over the years, federal authorities have refrained from targeting state-legal cannabis activities, and this recent proposal seems to reinforce that stance. Nonetheless, it fails to resolve the complex issues arising from the disparity between federal and state regulations.

The specifics of the rescheduling remain uncertain, as the U.S. Department of Justice (DOJ) has not disclosed Garland’s proposal details. Even if made public, the proposal is subject to modifications during the rulemaking process, which spans several months.

Here are some key considerations regarding what is currently known about the potential impacts of rescheduling:

Q: Is marijuana currently legal?

A: No. Despite legalization in certain states for adult use, federal law would likely still deem state systems illegal. State-legal medical cannabis dispensaries don’t meet the criteria for Schedule III drugs regulated by the U.S. Food and Drug Administration (FDA).

Q: What distinguishes Schedule I from III?

A: One significant difference is the acknowledgment of potential medical value. Schedule I substances, such as LSD and heroin, are deemed to have no medicinal use, hindering research efforts. On the other hand, Schedule III recognizes some medical benefits, offering prospects for improved research opportunities.

Q: How are states getting ready for rescheduling?

A: State regulators are awaiting further details before acting. While some anticipate eased restrictions on marijuana research, others consider potential implications for state-legal businesses, such as eligibility for tax deductions.

Q: Why is research important?

A: Limited research due to restrictions has impeded efforts to demonstrate cannabis’s benefits, hindering policy decisions and industry guidelines.

Q: What implications does rescheduling have on criminal justice, tax and banking policies?

A: While rescheduling alone is unlikely to address various concerns, such as tax deductions and access to banking services, advocates hope it will catalyze broader changes, including addressing social-justice issues.

Q: Could a future administration reverse this decision?

A: While possible, there’s no indication of such intentions. The fate of rescheduling could depend on the outcome of future elections and subsequent policy shifts.

Companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) will be waiting on the U.S. Drug Enforcement Administration to announce its reclassification decision and the commencement of the next rulemaking steps to ascertain what the strategic direction for cannabis businesses may be going forward.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The 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. 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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For more information, please visit https://www.CannabisNewsWire.com

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CannabisNewsBreaks – AROYA Marks Release of 100th Episode of ‘Office Hours Live,’ Designed to Provide Cannabis Cultivation Guidance, Support and Community

AROYA, the leading cannabis cultivation platform, has reached a significant milestone for “Office Hours Live,” its popular podcast series. According to the announcement, “Office Hours Live” recently released its 100th episode, with each episode focused on providing free, science-based and expert-approved guidance on cannabis cultivation. Hosted by cannabis cultivation experts Seth Baumgartner and Jason Van Leuven, the series has had millions of views and downloads worldwide, answered more than 900 cultivator questions and featured 13 guests from various sectors of the cannabis industry; the episodes also include live question-and-answer segments where participants can interact directly with the hosts. “We created ‘Office Hours’ to bridge the gap between novice enthusiasts and seasoned experts in cannabis cultivation,” said AROYA vice president of marketing Christian Hertel in the press release. “It’s about democratizing knowledge, where questions find answers and curiosity meets expertise. Every session is a chance to learn, share and cultivate not just cannabis but a community of informed growers.”

To view “Office Hours Live” episodes, visit https://cnw.fm/0FjaQ

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

About AROYA 

AROYA is the leading cannabis cultivation platform. The company combines advanced sensor technology, software and data-driven insights to empower cultivators. With 30 years of experience in sensor development, AROYA aims to help the cannabis cultivation industry increase yield, scale operations and ensure consistent quality, enabling cultivators to make more purpose-driven decisions for their businesses. For more information about the company, visit www.AROYA.io.

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

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