Category: CannabisNewsWire Release

420 with CNW — Company Makes First Export of DEA-Approved Marijuana from Jamaica to US

A Jamaican-Canadian company based in Toronto and formed by Canopy Growth Corp. and Steep Hill Labs’ former employees, has completed what it asserts to be the inaugural DEA-approved export of marijuana products from Jamaica to the United States. The company, Pure Jamaican, alongside Seven-10 Pharmaceuticals, its manufacturing and cultivation division located in Montego Bay, Jamaica, dispatched a range of eight distinct tincture products and three diverse distillate products containing varying ratios of CBD and THC, according to Scott Cathcart, who heads both entities.

Only a small batch of the products was sent for DEA-sanctioned research purposes. The products were shipped to ACS Laboratory, a Sun City Center, Florida-based establishment licensed by the U.S. Drug Enforcement Administration (DEA). Florida officials and the testing facility have a tense past. Notably, since 2022, ACS has been fined by Florida regulators about three times. The tens of thousands of dollars in fines were a result of several violations, including providing misleading information on certificates of analysis and not adhering to state standards on testing procedures.

Researchers with DEA licenses have been able to obtain cannabis from a select few authorized growers since 2021. Previously, the University of Mississippi was the only place where cannabis could be obtained for research purposes, or one needed to obtain DEA approval to import from other countries.

Cathcart expressed optimism regarding the potential rescheduling of cannabis from Schedule I to III under the Biden administration, foreseeing opportunities for commercialization in the U.S. market. However, he acknowledged the necessity of undergoing the lengthy FDA approval process before the products could be made commercially available.

Despite this, he is still optimistic that the products may be deemed “nutraceuticals,” which would free them from the need for federal approval before being sold.

Anticipating regulatory shifts, Cathcart is optimistic about the prospects of Pure Jamaican products in the U.S. market, citing the company’s pharmaceutical manufacturing license from the Pharmacy Council of Jamaica and relevant certifications from Jamaica’s Ministry of Health & Wellness. However, it remains uncertain whether the Jamaican pharmaceutical license carries the same weight as a U.S. pharmaceutical license.

Presently, the company is already distributing tincture products directly to Brazilian patients, according to a recent press release from Pure Jamaican. Before establishing Seven-10 and Pure Jamaican in 2018 with Martin Shefsky, another former Steep Hill executive, Cathcart spent about five years as the chief global expansion officer at Steep Hill Labs.

As the regulatory climate in the United States evolves over time, it will no longer be newsworthy when Pure Jamaican, Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) or any other company or its subsidiary exports, imports or otherwise engages in any interjurisdiction trade in marijuana products.

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

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CannabisNewsBreaks – Software Effective Solutions Corp. (SFWJ) Expands Portfolio, Marking Major Step Toward World-Leading Integration

Software Effective Solutions (OTC: SFWJ) (d/b/a MedCana) today announced the successful acquisition of two additional companies, expanding its portfolio to nine innovative enterprises. According to the announcement, the strategic expansion includes a company with a critical cannabis genetics license and another with comprehensive licenses to produce, process and export cannabis products. “These acquisitions represent a monumental step towards our vision of becoming a world-leading integrated cannabis company,” said Jose Gabriel Diaz, CEO of MedCana. “With seven cannabis producing companies, one agriculture technology and infrastructure company, and one software company under our belt, MedCana is exceptionally positioned to innovate, produce and deliver high-quality cannabis products globally.”

To view the full press release, visit https://cnw.fm/zL1Ex

About Software Effective Solutions Corp.

Software Effective Solutions/MedCana is a holding company focused on developing companies in the agricultural technology and cannabis industries. As MedCana moves forward with its expansion plans, the company remains committed to delivering on its promise of building a solid foundation for the future growth of its holdings. 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://ibn.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

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420 with CNW — Maryland Legislators Consider Bills Against Workplace Discrimination for Cannabis Users

Legislative committees in Maryland’s state House of Delegates and Senate convened last week to deliberate on proposed measures aimed at shielding workers from repercussions due to off-duty marijuana use. The bills’ essence lies in shifting the burden of proof onto employers, requiring them to demonstrate on-the-job impairment before taking disciplinary action against an employee.

Introduced as SB 513 by Senator Alonzo Washington and as HB 525 by Delegate Jheanelle Wilkins, both bills share near-identical language. The Finance Committee in the Senate heard testimonies on SB 513 on Thursday, while the House’s Economic Matters Committee followed suit with HB 525 a day later. Although no immediate action was taken, extensive testimony was provided by stakeholders, the public and the bills’ sponsors.

Washington underscored the bill’s aim to safeguard employees’ rights in light of Maryland’s legalization of marijuana. Support for the proposal was often cast as a logical step forward, given the state’s legal framework. Organizations such as firefighter associations lent their support, advocating for the protection of members’ rights to off-duty cannabis use.

However, critics voiced concerns regarding potential implications for public safety, suggesting that identifying and addressing impaired workers might become more challenging. Delegate Jesse Pippy expressed surprise at firefighter endorsement of the bill, prompting Wilkins to emphasize the proposal’s focus on better assessing on-the-job impairment.

Despite assurances from supporters, doubts lingered regarding the reliability of methods for gauging impairment.

Numerous speakers, including civil rights groups, professional groups and state officials, testified in support of the bill. NaShona Kess from the Maryland NAACP highlighted the bill’s significance for marginalized communities disproportionately affected by discriminatory employment practices related to cannabis offenses. Further, Cleveland Horton from the Maryland Commission on Civil Rights echoed support for the bill, emphasizing its importance in promoting fairness and equity in employment practices.

Advocates from the Cannabis Policy Project and NORML also provided testimony, stressing the bill’s role in protecting civil liberties and maintaining workplace safety. They cited studies showing no adverse impact on workplace performance due to off-duty cannabis use.

The bill does not prohibit employers from testing for impairment but aims to prevent unjust consequences for employees who use marijuana legally outside of work hours.

Across the country, as cannabis legalization gains momentum, discussions on marijuana-related employment policies have become increasingly prevalent. In Ohio, for instance, Cleveland mayor Justin M. Bibb announced updates to the city’s drug-testing policies to align with modern practices and remove barriers to hiring related to marijuana use.

These bills are a progressive step that the wider cannabis industry, including companies such as Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED), is likely to welcome as it allows employees who wish to consume marijuana during their off-duty hours to do so.

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

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CannabisNewsBreaks – Zoned Properties Inc. (ZDPY) Marks Pivotal Step in Scaling D2C Real Estate Portfolio

Zoned Properties (OTCQB: ZDPY), a technology driven property investment company for emerging and highly regulated industries, including legalized cannabis, today announced that it has listed its cultivation property in Chino Valley, Arizona (the “Chino Valley Property”) for sale at a purchase price of $16 million. The potential transaction marks a significant development in the company’s strategic real estate portfolio optimization. “As part of our ongoing strategic review to enhance shareholder value, we are very pleased to announce our intention to sell our Chino Valley Property. The Chino Valley Property, which we now consider a non-core asset to our investment strategy, represents a significant capital reallocation opportunity for Zoned Properties. We expect that, if and when the Chino Valley Property is sold, the non-dilutive proceeds from the sale would be instrumental in supporting the company’s future real estate portfolio acquisition plans,” said Zoned Properties CEO Bryan McLaren.

“This is a pivotal step in our ongoing efforts to scale our direct-to-consumer real estate portfolio and unlock value for our shareholders. We believe that this strategic shift will position us to capitalize on the growing demand for retail dispensary properties in the cannabis real estate industry with strong cap rates creating long-term shareholder value. We will continue our ongoing strategic review with the sole intention of growing shareholder value and look forward to updating shareholders as appropriate.”

To view the full press release, visit https://cnw.fm/89Mfy

About Zoned Properties Inc.

Zoned Properties is a technology driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States. The company aspires to innovate within the real estate development sector, focusing on direct-to-consumer real estate that is leased to the best-in-class cannabis retailers. Headquartered in Scottsdale, Arizona, Zoned Properties is redefining the approach to commercial real estate investment through its standardized investment process backed by its proprietary property technology. Zoned Properties has developed a national ecosystem of real estate services to support its real estate development model, including a commercial real estate brokerage and a real estate advisory practice. With a decade of national experience and a team of experts devoted to the emerging cannabis industry, Zoned Properties is addressing the specific needs of a modern market in highly regulated industries. The company targets commercial properties that face unique zoning or development challenges, identifies solutions that can potentially have a major impact on their commercial value, and then works to acquire the properties while securing long-term, absolute-net leases. Zoned Properties targets commercial properties that can be acquired and rezoned for specific purposes, including the regulated and legalized cannabis industry. It does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substance Act of 1970, as amended (the “CSA”). Zoned Properties corporate headquarters are located at 8360 E. Raintree Dr., Suite 230, Scottsdale, Arizona. For more information, call 877-360-8839 or visit www.ZonedProperties.com.

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

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

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420 with CNW — Official Records Show Recreational Marijuana Sales in Canada Exceeded C$5B in 2023

In 2023, Canada’s recreational marijuana market boasted a value of approximately C%5.07 billion ($3.8 billion), a recent government report on retail sales stated. This reflects a 12.2% increase from the previous year, showcasing a trend of growth, albeit at a slower pace compared to earlier years, marking more than five years since the legalization of recreational marijuana in 2018.

Brad Poulos, an entrepreneurship professor at Toronto Metropolitan University, explains this slowdown as a normal evolution of the market. He points out that a big part of the increase in sales of legal marijuana comes from customers moving away from illegal sources. This trend is expected to continue in 2024, with 40% of cannabis transactions still taking place in the illegal market.

One aspect where the illicit market maintains an edge, according to Poulos, is in marijuana edible potency, a product capped by Canadian regulations at 10 mg of THC per package for public health purposes.

Headset Data analyst Mitchell Laferla draws attention to how customer preferences changed last year in Canada’s marijuana market, with pre-rolled joints showing a remarkable rise in sales, accounting for 31.4% of sales, which is a significant increase over the previous year. This surge brings pre-rolls nearly on par with flower products (35.2%), traditionally the most popular category.

Moreover, Laferla’s analysis notes that, in 2023, marijuana prices in Canada decreased generally for the majority of product categories. But compared to the double-digit compression seen the year before, this decrease was less severe, with pre-roll pricing notably remaining stable, probably helped by continued demand in the category.

The recent retail sales data from Statistics Canada for December revealed a year-over-year increase of 3.6% in legal recreational marijuana sales, amounting to C$441.2 million. This represents an 8.2% month-on-month increase over November 2023, reversing the downward trend that had been seen since August, when monthly sales reached a height of C$467 million.

Despite these positive indicators, challenges persist within the regulated market. High taxes remain a significant grievance among industry stakeholders, compounded by the enduring presence of the illicit market. In addition, the industry is looking forward to the parliamentary study of legalization that is scheduled for release in the spring, though it is unclear if the outcome will allay the worries of cannabis retailers and producers.

The marijuana retail industry in Canada is still recouping after several locations were either closed or acquired last year.

Looking ahead, Poulos estimates a potential 10% growth in Canadian marijuana sales for 2024 over the previous year, fueled by continued migration of users from the illicit market and further expansion of legal dispensaries, particularly in regions with limited accessibility such as Quebec and certain municipalities in Ontario.

Individual companies, such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), are likely to fare differently in the new year depending on how well they position themselves to appeal to different consumer segments, including medical marijuana users.

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

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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Reports Weight-Loss Results in Animal Study, Begins Eight-Week Follow-Up Study

Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug-delivery platforms, is reporting glucose reduction and weight-loss results in a testing of its wholly owned and patented DehydraTECH-CBD formulation. According to the announcement, when administered to rodents in an eight-week study, DehydraTech-CBD resulted in weight loss of 7% and a reduction of 19.9% (p<0.05) in blood glucose. As a result, Lexaria has now signed contracts to begin a large, multiweek animal study that will substantially progress its DehydraTECH-GLP-1 and DehydraTECH-CBD weight-loss investigations. In addition, the announcement also noted that the company had published results of a human study, which showed that a single 7 mg semaglutide dose from Rybelsus(R) processed with DehydraTECH, was absorbed at a significantly higher level than without DehydraTECH processing; results of that testing showed that the treatment also managed blood glucose levels more effectively without any blood glucose spiking after eating.

“Together, these discoveries strongly support additional investigations, including determining whether daily dosing of DehydraTECH-GLP-1 might result in sustained higher concentrations of GLP-1 in blood over an extended treatment duration than without DehydraTECH processing and whether such a higher blood concentration might result in greater weight loss over time; and determining whether DehydraTECH-CBD, specially formulated for diabetes control and weight loss, alone and/or in conjunction with DehydraTECH-GLP-1, might also result in greater weight loss and/or blood glucose control over time,” said the company in the press release. “Manufacturing of the test articles for 8 of the 12 arms of the new animal study has already been completed, and dosing in those arms will commence as soon as the third-party laboratory is able to do so, expected to begin within 45 days.”

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

About Lexaria Bioscience Corp.

Lexaria Bioscience’s patented drug-delivery formulation and processing platform technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, Lexaria has developed and investigated DehydraTECH with a variety of beneficial molecules in oral and topical formats. DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption and has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier, which Lexaria believes to be of particular importance for centrally active compounds. Lexaria operates a licensed, in-house research laboratory and holds a robust intellectual property portfolio with 39 patents granted and many patents pending worldwide. For more information about the company, please visit 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

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Zoned Properties Inc. (ZDPY) Is ‘One to Watch’

  • Zoned Properties in January 2024 acquired an investment property in Chicago and signed a long-term lease agreement for Justice Cannabis Co. to operate a retail dispensary there
  • The company reported revenues of $720,450 for the quarter ended September 30, 2023, compared to $614,988 for the same quarter in 2022, an increase of 17.2%
  • Zoned Properties reported net income of $114,523 for the September 2023 quarter, compared to a net loss of $77,328 for the same quarter a year earlier
  • The company continues to build out its proprietary cannabis technology platform, REZONE, in preparation for commercial launch
  • Zoned Properties in August 2022 closed a debt financing deal on its Tempe, Arizona, property by securing an initial debt facility of up to $4.5 million at a 7.65% interest rate through a commercial real estate lender
  • Since 2021, Zoned Properties Brokerage has closed over $80 million of commercial real estate deals nationally for clients

Zoned Properties (OTCQB: ZDPY) is a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States. The company aspires to innovate within the real estate development sector, focusing on direct-to-consumer real estate that is leased to best-in-class cannabis retailers.

The company is redefining the approach to commercial real estate investment through its standardized investment process backed by its proprietary property technology. Zoned Properties has developed a national ecosystem of real estate services to support its real estate development process, including a commercial real estate brokerage and a real estate advisory practice.

With a decade of national experience and a team of experts devoted to the emerging cannabis industry, Zoned Properties is addressing the specific needs of a modern market in highly regulated industries. The company targets commercial properties that face unique zoning or development challenges, identifies solutions that can potentially have a major impact on their commercial value and then works to acquire the properties while securing long-term, absolute-net leases.

Zoned Properties targets commercial properties that can be acquired and rezoned for specific purposes, including the regulated and legalized cannabis industry. It does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law.

The company is headquartered in Scottsdale, Arizona.

Portfolio

The company’s investment properties are located in Arizona, Michigan and Illinois, with 100% occupancy and a weighted average lease term over 10 years. Each of the company’s leased properties is occupied by a commercial cannabis tenant. The company is expecting rental revenue from its property investment portfolio of greater than $2.5 million in calendar-year 2024.

Zoned Properties maintains a portfolio of properties that it owns, develops and leases. As of February 2024, the company leases land and/or building space at the six properties in its portfolio to licensed and regulated cannabis tenants in areas with established cannabis regulations and zoning procedures. Four of the leased properties are zoned and permitted as regulated cannabis retail dispensaries, and two of the leased properties are zoned and permitted as regulated cannabis cultivation and processing facilities.

The company considers the two cultivation sites in its portfolio as legacy properties and may consider selling or leveraging those properties to unlock equity and create capital availability in the future. The Zoned Properties investment thesis has evolved over the years as the cannabis industry has emerged, and the company is currently focused on investing capital into direct-to-consumer properties, located in state-markets with robust cannabis consumer demand in the industry.

Zoned Properties is in pursuit of property acquisitions that can be characterized as consumer-facing, retail dispensary properties that are positioned to be leased to retail dispensary cannabis tenants under net leasing structures. As of September 2023, the company has agreements in place to acquire new investment properties with new cannabis tenants located in Arizona, Missouri and Illinois. The company plans to initiate and target its investment process in Ohio and Maryland.

With a strategic shift in focus to direct-to-consumer real estate that is leased to best-in-class cannabis retailers in the industry, the company will continue to utilize its competitive edge when identifying excellent investment properties. Zoned Properties has a full pipeline of acquisition prospects and continues to utilize an extremely disciplined capital allocation approach.

Market Opportunity

According to MJBizDaily, a publication that has covered the North American cannabis business since 2011, combined U.S. medical and recreational cannabis sales were estimated at approximately $33.6 billion at the end of 2023, largely driven by the opening of new adult-use markets.

The publication projects that combined U.S. retail cannabis sales will reach upwards of $53.5 billion by 2027, according to an analysis published in its volume of cannabis market research, the MJBiz Factbook.

As of February 2024, 38 U.S. states had legalized medical, recreational or other limited use of cannabis. The Pew Research Center reports that, in January 2023, there were more than 11,000 licensed cannabis dispensaries in the U.S. In addition, global research firm IBISWorld reports that more than 40,000 U.S. localities have adopted regulations governing cannabis usage, production, processing and/or dispensing.

Management Team

Bryan McLaren is the Chairman and CEO of Zoned Properties. Previously, he worked as a Sustainability Consultant for Waste Management Inc., where he led the strategic development and operational implementation of zero-waste programs for clients. He was also appointed as a city Sustainability Commissioner. He holds a bachelor’s degree in business administration from the University of San Diego, a master’s degree in sustainable development from Northern Arizona University, an executive master’s degree in business leadership from Arizona State and an MBA with a specialty in sustainable development.

Berekk Blackwell is the President and COO of Zoned Properties. He previously spent time in developing domestic and international markets for Kahala Brands, a conglomerate of over 15 QSR franchises, including Cold Stone Creamery and Blimpie Subs. He later worked on developing QSR concepts for Revamp Corp. in Tokyo. After returning to the U.S., he served as president of Daily Jam, a limited-service breakfast and brunch chain. He holds a bachelor’s degree in business administration in finance from Fort Lewis College.

Patrick Moroney is the Director of Real Estate Acquisitions for Zoned Properties. Previously, he was one of the most successful Associate Brokers at Kidder-Mathews, focusing primarily on the regulated cannabis industry. He also worked as a commercial real estate broker rep at Cushman & Wakefield and Colliers International. He graduated from Arizona State University, after which he spent four years as a local sports broadcaster in Georgia and Iowa.

Kyle Gere is the Director of Advisory Services at Zoned Properties. He has years of licensing experience across multiple U.S. states in the medical and recreational cannabis markets. Since 2015, he has been involved in cannabis real estate transactions in Arizona and Michigan, managing a portfolio of medical marijuana properties. He attended Northern Arizona University, graduating with a bachelor’s degree in business administration in both management and marketing.

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

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

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 — Modified Ballot Measure to Broaden Medical Marijuana Approved in Arkansas

Efforts to enhance accessibility to medical marijuana are gaining traction in Arkansas as advocates and industry stakeholders push for a constitutional amendment slated for the November ballot. Tim Griffin, the state’s attorney general, recently gave the green light to the proposed amendment’s ballot language after making some revisions. Now, supporters have until July 5, 2024, to secure approximately 90,704 registered voters’ signatures, a crucial step in securing a spot on the Nov. 5, 2024, general election ballot.

The ballot committee supporting the proposal, Arkansans for Patient Access, is led by Bill Paschall, executive director of the Arkansas Marijuana Industry Association. He stated that industry stakeholders are prepared to present the amendment’s case.

The proposed amendment would allow patients to grow their own marijuana plants, which would improve accessibility to the drug. In addition, the measure aims to remove retail limitations on some smokable goods, such as pre-rolled joints, and expand the eligibility for marijuana patients’ ID cards. Notably, it also contains clauses that might allow Arkansas to legalize marijuana for recreational use if federal restrictions change.

The majority of the AG’s requested revisions to the ballot title and popular moniker Arkansans for Patient Access were small, technical adjustments. The most significant modification was adding “medical marijuana” to the title instead of “cannabis.” The amended proposal is now the Arkansas Medical Marijuana Amendment of 2024.

According to Paschall, the initiative’s counsel had reservations about the amended ballot title’s length, but after some consideration, the organization has decided to approve it. In previous election cycles, challengers to ballot initiatives have focused their legal objections on the length of the ballot title.

The proposed changes build upon the existing Amendment 98 of the Arkansas Constitution, ratified in 2016, which legalized cannabis for medical purposes. Important changes include removing restrictions on qualifying medical conditions, increasing the number of healthcare providers certified to certify patients for medical cannabis, and allowing designated caregivers and patients to grow cannabis plants. The proposal also intends to waive ID card registration fees, expand access for out-of-state residents, expedite patient telemedicine assessments and prolong the life of new patient cards.

Additionally, it introduces a recreational marijuana trigger law that, under certain federal regulatory changes, allows adult possession of marijuana up to an ounce. It also suggests protections against legislative changes to constitutional amendments made without voter consent.

While proponents advocate for expanded access to medical cannabis, other groups, such as the Family Council, have opposed the move. This opposition is based on several issues, including  concerns about potential recreational use implications. The opposition underscores the contentious nature of the proposed changes.

The cannabis industry and leading players such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) will be hoping that the desired cannabis-law reforms are passed and patients can obtain the expanded access to medical marijuana that they need.

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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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Cleared to Commence HYPER-H23-1 Clinical Trial

Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug delivery platforms, today announced that the U.S. Food and Drug Administration (“FDA”) has confirmed the effectiveness of the company’s investigational new drug (“IND”) application thereby clearing Lexaria to conduct its planned U.S. Phase 1b hypertension clinical trial HYPER-H23-1 utilizing DehydraTECH-CBD. According to the announcement, the company is pleased to have complied with the FDA’s rules and procedures for clearance to perform this important registrational trial. The company will further announce when it is ready to begin the study, subject to certain conditions, including raising sufficient funding. “This is a significant milestone achievement for Lexaria demonstrating, for the first time, that its DehydraTECH technology meets the FDA’s high level of regulatory scrutiny sufficient to formally commence U.S. registrational clinical testing towards possible future pharmaceutical commercialization,” said John Docherty, president of Lexaria. “We look forward to commencing this important clinical trial and building upon the wealth of early stage clinical data we have gathered and presented to the FDA to date demonstrating the safety, efficacy and novel mechanistic performance of DehydraTECH-CBD in hypertensive patients.”

To view the full press release, visit https://cnw.fm/e8UgU

About Lexaria Bioscience Corp.

DehydraTECH(TM) is Lexaria’s patented drug delivery formulation and processing platform technology that improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, Lexaria has developed and investigated DehydraTECH with a variety of beneficial molecules in oral and topical formats. DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption and has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier, which Lexaria believes to be of particular importance for centrally active compounds. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 39 patents granted and many patents pending worldwide. 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.

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420 with CNW — New Poll Shows Voters Want Cannabis Taxes to Fund Housing, Education

Opinions among adults in New Jersey vary regarding how the state should utilize revenue from the marijuana tax. However, a recent study sheds light on the prevailing sentiment that most residents do not favor directing marijuana tax funds toward antidrug or law-enforcement initiatives.

The study, which was published in the “International Journal of Drug Policy,” polled 1,006 New Jersey residents and gave them seven alternatives for how marijuana tax revenue should be spent, including financing for law enforcement, affordable housing and public health.

The study’s findings, compiled by researchers from Drexel and Rutgers Universities, showed that financing for community-based programs such as education (23%), housing (15%), public health (21%) and transport infrastructure (13%), was preferred over funding for antidrug initiatives (4%) and law enforcement (11%). Findings showed that 13% of respondents did not know where the revenue should be directed.

According to the authors, these findings reflect a desire among the public to invest in essential societal pillars such as public health and education rather than continuing the punitive measures that have traditionally been linked to marijuana laws.

The results shed light on a discussion that has taken place in legislatures and political campaigns around the nation, with proponents of legalization typically opposing plans to utilize marijuana tax revenue to fund the organizations that upheld the harsh drug laws that the repeal of prohibition wants to remove.

The survey results also revealed partisan differences, with Republicans generally supporting funding priorities less than Democrats, especially when it comes to law enforcement. Notably, only one Black participant stated that funding law enforcement was a top priority when it came to cannabis tax revenue, highlighting concerns about the disproportionate impact of marijuana criminalization on Black communities.

The study concludes by stating that marijuana legalization initiatives can address social inequities by reinvesting tax revenue, though further exploration is needed on how this reinvestment can benefit disadvantaged communities and promote health equity.

The data from New Jersey indicates a preference for investing in education, drug treatment and public-health initiatives over law enforcement, reflecting a broader trend in public opinion. This sentiment underscores the potential benefits of formally allocating health- and justice-related funding to address health disparities and historical injustices stemming from punitive marijuana policies.

Similarly, in Ohio, the debate over tax revenue allocation has intensified, with cannabis activists opposing efforts by the Republican-controlled assembly to redirect funds toward law enforcement, contrary to voter-approved legalization measures.

The debates going on regarding how best to utilize the cannabis taxes that companies such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) pay in the states where they operate show how a legal cannabis industry can exert a transformative role upon the jurisdictions that enact drug reform and end 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

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