420 with CNW — Canadian Industry Groups Want Federal Fees on Marijuana Reduced to Relieve Operator Burden

A group of Canadian cannabis executives has shined a light on what it says are unsustainable federal fees on the nascent industry. The executives are asking the federal government to offer the industry some relief from the federal tax fees amid widespread financial losses and increasing job losses. During a news conference last week, the executives argued that job losses would continue to pile up if the federal government did not make any meaningful reform.

Even though cannabis is legal across dozens of states in the United States and in Canada as well, industry players have been forced to contend with relatively high fees and taxes since the inception of the industry. While cannabis companies have tried to recoup these costs by passing them on to the consumers, this has made legal cannabis several times more expensive than black-market cannabis and helped to bolster the illicit market. The situation has been especially dire in Canada, where cannabis producers have already announced close to 1,000 job losses thus far in the year.

Cannabis Council of Canada CEO George Smitherman stated that the federal government’s fees and taxes had made the cannabis industry unsustainable. He explains that the taxes and fees levied on the marijuana sector made it impossible for the industry to remain sustainable and progress in the long-term. Smitherman said that he would like the government to reduce the 2.3% standard cultivation license fee that is charged on annual gross revenue.

Speaking at the news conference in Ottawa, Smitherman noted that the budget was a prime opportunity for the Canadian government to show its commitment to making cannabis sustainable. This would involve reforming excise taxes on cannabis, he noted, adding that it would involve collaboration between territories, provinces and the national government.

CEO of British Columbia-based Pure Sunfarms Mandesh Dosanjh stated at the conference that the federal government had failed to hold up its end of the deal. He argued that the government had overlooked the cannabis industry and subjected it to enormous regulatory fee burdens and heavy taxes. As a result, these fees and taxes eat into the capital that cannabis producers could use to reinvest in their businesses. For every dollar of revenue cannabis producers earn, Dosanjh explained, 72 cents was collected as tax and fees while producers received only 28 cents.

This had created conditions that allow illegal operators to thrive, he noted, adding that legal businesses didn’t stand a chance in the sector unless the government offers relief and excise reform in the next budget.

The difficulties that cannabis companies are encountering in order to turn a decent profit inevitably also impact ancillary companies that operate in their jurisdictions, such as Advanced Container Technologies Inc. (OTC: ACTX) since dampened operations in the sector mean that those related companies will not register brisk business for their products.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Twitter’s Decision Gives US Marijuana Companies Advertising Boost

Industry insiders say that Twitter’s recent policy change allowing state-legal marijuana businesses to advertise and market on the platform is a positive development for the sector and may prompt other digital advertising platforms to reconsider their bans on cannabis promotion. Twitter is simultaneously enhancing its entry into American marijuana advertising through a promotional incentive for the sector. However, there are still some uncertainties regarding the specifics of what Twitter’s new marijuana advertising policy allows and prohibits.

In the opinion of Lisa Buffo, CEO and founder of the Cannabis Marketing Association, the move is a definite sign that marijuana is becoming more accepted as a consumer packaged good.

Some industry participants have already acted to benefit from Twitter’s policy change, such as the vaporizer company Pax, which has declared that it is one of the platform’s first marijuana advertising partners. Other companies are waiting to see how things play out.

According to head of marketing at Theory Wellness, Thomas Winstanley, Twitter’s new policy on marijuana advertising is more symbolic than it is practical for the company’s operations at the moment. Winstanley states that Twitter’s guidelines for American cannabis businesses are different from those for Canada, where the platform already permits the advertising of legal cannabis businesses.

According to Twitter’s U.S. marijuana advertising guidelines, advertisers are prohibited from promoting cannabis products, including cannabidiol, except for hemp-extracted CBD products with a THC level lower than 0.3%. Winstanley understands that restriction to mean that Theory Wellness couldn’t attempt to maximize the return on its Twitter advertising investment by turning an advertisement into a sale. However, he thinks brand-awareness campaigns would be acceptable.

According to a Twitter employee, the platform enables advertisers to promote brand preferences and educational marijuana-related content for THC and CBD products, as well as services such as labs, delivery services, scientific developments and events. Twitter will provide the brands with a one-and-a-half-month advertising incentive by matching new ad spending up to $250,000 one-to-one.

It’s unclear whether Twitter’s digital advertising rivals, including Alphabet (Google’s parent company) and Instagram, Facebook, and WhatsApp platforms run by Meta, will follow suit and permit cannabis advertisements.

Recently, Google Ads relaxed restrictions on CBD and hemp advertising in a few markets, but it continues to ban the majority of other marijuana marketing.

Cannabis PR specialist Rosie Mattio asserted that Twitter merits praise for being the first to adjust guidelines; Mattio is confident that the U.S. cannabis industry will feel loyalty to the privately owned social media site.

As cannabis companies gain traction from their adverts on Twitter, there could be a surge of demand, which could in turn cause companies such as REZYFi Inc. to see more interest in the specialized funding products that it offers to marijuana companies.

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) Unveils New Smaller GrowPod Controlled Environment Systems

Advanced Container Technologies (OTC: ACTX), the exclusive U.S. distributor of self-contained, automated, indoor “micro-farms” called GrowPods, has announced a new line of automated modular GrowPod systems designed to be a transportable controlled environment farm. According to the announcement, the new smaller system is perfect for resorts, restaurants, grocer and individuals wishing to grow ultraclean, chemical-free produce, fruits and vegetables. The new systems are designed in response to a growing number of five-star resorts and leading hotels that are using similar systems to provide guests with gourmet cuisine experiences; the food produced in these systems are free from chemicals, herbicides and pathogens and can be harvest at the peak of flavor and freshness for quality. The new GrowPod systems are built into 20-foot insulated shipping containers; they can also be customized to include a variety of features, including a five-tier, five-channel growing system with a hand sink, nursery and prep area. The new systems also offer a secure entry door with an air curtain, stainless steel work tops, commercial-grade flooring and NSF-rated walls as well as complete environmental control. “It’s a protected environment so the resort doesn’t have to worry about too much sun or rain or heat or insects,” said Advanced Technologies Containers CEO Doug Heldoorn in the press release. “And since the container is a closed-loop system, water doesn’t evaporate, unlike a typical garden or farm, which provides significant reduction in water usage over conventional farming.”

To view the full press release, visit https://cnw.fm/9ZpU1

About Advanced Container Technologies Inc.

Advanced Container Technologies is in the business of selling and distributing self-contained, automated, indoor “micro-farms” called GrowPods, along with related equipment and supplies. Additionally, the company designs and sells patented proprietary medical-grade plastic containers, known as the Medtainer(R), that store and grind pharmaceuticals, herbs, teas and other solids or liquids. For more information, visit the company’s website at www.AdvancedContainerTechnologies.com.

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

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Lexaria Bioscience Corp.’s (NASDAQ: LEXX) Additional HYPER-H21-4 Study Findings Offer Better Understanding of the Anti-Hypertensive Effects of DehydraTECH-CBD

Dosing for Lexaria’s ambitious and most comprehensive clinical study, HYPER-H21-4, was successfully completed in July 2022, with newly analyzed results now emerging
Its latest findings bring the company closer to its upcoming FDA Phase 1b study while also explaining the patented DehydraTECH-(TM)-processed CBD interaction with the sympatho-chromaffin system via catestatin modulation
Lexaria’s management is optimistic that DehyraTECH-CBD and its effectiveness in modulating catestatin levels could become a significant value enhancer should it eventually enter the marketplace as an approved hypertension treatment

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, kicked off its human clinical study, HYPER-H21-1 in 2021, focused on testing its patented DehydraTECH(TM)-processed cannabidiol (“CBD”) for the potential use as a hypertension treatment alternative (https://cnw.fm/4sQYN). On July 27, 2022, the company announced that the dosing for its HYPER-H21-4 multi-week human clinical study was successfully completed, with no serious adverse events resulting from the dosing (https://cnw.fm/imOSQ).

This safety-related outcome – no serious adverse events – is generally speaking the desired primary outcome of Lexaria’s upcoming Phase 1b FDA-registered study.

Designed to enhance Lexaria’s probability of success toward an Investigational New Drug (“IND”) application filing for the U.S. Food and Drug Administration (“FDA”) approval, HYPER-H21-4 was the most comprehensive clinical study ever undertaken by Lexaria, with many types of analysis performed. Its latest findings from the study take things a step further while also explaining DehydraTECH-CBD’s interaction with the sympatho-chromaffin system via catestatin modulation.

In addition, the findings have been published in the respected peer-reviewed journal, “Biomedicine and Pharmacotherapy.” The company is aware of only a handful of other published research studies that have investigated whether a sustained decrease in resting blood pressure (“BP”) is possible following multiple weeks of oral CBD dosing, none of which have been successful in achieving this (https://cnw.fm/hvWYO).

The findings showed that DehydraTECH-CBD resulted in a statistically significant reduction in average baseline serum catestatin concentrations of 13.50 ng/mL to just 9.65 ng/mL after five weeks of dosing, representing a 28.5% drop. In addition, mean arterial pressure significantly dropped by 4.26 ± 1.26 mm/Hg following the five weeks of DehydraTECH-CBD dosing. No statistically significant reductions in catestatin concentrations were identified in the placebo group.

Given the growing demand for alternative anti-hypertensive treatments and therapies, Lexaria recognizes an opportunity and seeks to fill it. These latest results from its ambitious HYPER-H21-4 study inch the company closer to achieving that goal, ultimately becoming a leader and tapping into a pharmaceutical market that is set to be valued at $34 billion by 2030. Lexaria’s management is optimistic that DehydraTECH-CBD and its effectiveness in modulating catestatin levels could become a significant value enhancer should it eventually enter the marketplace as an approved hypertension treatment.

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

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420 with CNW — Wisconsin Governor Releases Budget Request That Features Cannabis Legalization

Wisconsin Governor Tony Evers (D) recently unveiled the state’s biennial budget proposal, which once more includes language supporting the legalization of both medical and recreational cannabis. The governor made it known that he intended to include the adult-use proposal in his request, despite a top Republican lawmaker’s warning that doing so might jeopardize talks on more moderate medical marijuana legislation.

He also stated that he would not be persuaded to drop the proposal owing to the fact that he promised to work for comprehensive legalization during the campaign and a majority of state voters support the change in law.

However, passing adult-use legislation through the GOP-controlled House will be a difficult task.

The main elements of Evers’ cannabis legalization proposal include:

Wisconsin residents who are 21 years of age or older may buy and possess up to two ounces of cannabis for personal use. Nonresidents, on the other hand, may possess a quarter ounce.
Those who are 21 years old and older may also cultivate up to six marijuana plants for personal use.
Patients on medical cannabis may include those with incapacitating medical conditions.
Cannabis market regulation and business license issuance would fall under the purview of the Department of Revenue, which supported legalization in its budget proposal this year.
A 15% tax would be imposed on marijuana wholesalers, and a further 10% tax would be applied to adult-use marijuana sales at the retail level. The excise tax would not be collected from medical cannabis patients.
Proceeds from sales would go to a community reinvestment fund, which would support mental-health and substance-abuse treatment programs.
Individuals could petition the courts for a new judgment or for the expungement of their record for convictions involving actions that the law has made legal.
Labor peace agreements would be necessary for marijuana companies with more than 20 workers.
The DOR would have to institute competitive scoring in the licensing procedure, giving preference to candidates who can show they will make an effort to provide stable jobs for residents and ensure employee and customer safety, etc.
Employees who use marijuana outside of work would be protected from discrimination.
The bill would also do away with THC drug testing as a prerequisite for acquiring public benefits.

The governor’s office forecasts that legal cannabis sales will bring in $44.4 million in “segregated tax revenue” for the state in the 2025 fiscal year and an increase in state general fund tax revenue of $10.2 million.

Meanwhile, other companies such as India Globalization Capital Inc. (NYSE American: IGC) are focused on running R&D programs aimed at bringing to market cannabis-based formulations that are more efficacious in treating chronic pain and other indications.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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420 with CNW — President Biden Issues Executive Order on Cannabis Equity

Reform activists have long concluded that the drug war of the 1980s and 1990s is an unmitigated failure. Although the war on drugs was ostensibly launched to cut financial outflows to criminal organizations and address drug addiction in the United States, it has resulted in the incarceration of significant numbers of people on minor drug charges, decimated families in Black and Brown communities and contributed to already entrenched racial disparities.

Now that cannabis drug reform is sweeping across the country, most states have included social justice provisions in their cannabis laws to try and alleviate the disproportionate damage caused by the failed drug war. These social justice provisions have dedicated tens of millions of dollars toward reinvesting into communities that were disproportionately affected by the drug war and giving members of these communities a chance to benefit from the nascent cannabis industry.

Last week, President Joseph Biden signed an executive order touting his administration’s effort to address the federal government’s failed approach toward cannabis policy. The president stated that his administration had taken action to correct America’s failed approach to cannabis, protect citizens’ civil rights, advance criminal justice, and fight increasing extremism and hate-fueled violence.

A fact sheet released in tandem with the executive order listed and delved into Biden’s actions regarding cannabis policy.

In 2022, the president issued a mass pardon for people who had been convicted of nonviolent federal marijuana possession. He also called for a review to be conducted on federal cannabis prohibition under the Controlled Substances Act. The schedule classifies cannabis as a Schedule I controlled substance alongside drugs such as cocaine and heroin.

Alluding to the thousands of Americans who were either incarcerated or saddled with criminal records due to cannabis possession, the fact sheet noted that marijuana prohibition had affected too many people’s lives for partaking in an activity that was now legal in over two dozen states. It also highlighted that Biden’s mass pardon was meant to lift the barriers to employment, educational opportunities and housing for individuals who had prior cannabis convictions on their records.

Furthermore, the fact sheet noted that Biden had instructed governors across the country to follow suit and issue cannabis pardons for nonviolent possession offenses at the local and state levels.

In addition to this, the executive order called on agencies in the federal government to create a yearly Equity Action Plan to study barriers that prevent underserved communities from benefitting from and even accessing state and federal programs.

Even with those equity programs in place, many operators will still seek out entities such as REZYFi Inc. for funding because accessing needed funds from mainstream banks is still a distant dream for players in the marijuana space.

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

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420 with CNW — NJ Supreme Court Clears Confusion on Cannabis Expungement Law

The Supreme Court of New Jersey recently ruled that first-time offenders who avoided conviction for minor drug offenses by enrolling in a diversionary program before legislators in the state decriminalized cannabis two years ago could still be enrolled to another program for any new offenses. The unanimous ruling was an effort to analyze the intent of the Cannabis Regulatory, Enforcement Assistance and Marketplace Modernization Act.

While this law decriminalized the simple possession of marijuana in the state of New Jersey and directed that previous cannabis convictions be expunged automatically from an individual’s criminal record, it did not look into how judges were to handle individuals who got conditional discharges for drug offenses. A conditional discharge is a program for first-time offenders that allows them to dodge criminal prosecution and conviction for minor drug offenses if they complete a judge’s orders, which may include treatment.

Before this clarification was made, lower courts had resorted to making conflicting rulings for individuals with previous conditional discharges who applied for another diversionary program meant for first-time arrests. The other program in question, pretrial intervention, was only accessible by those who hadn’t taken part in another diversionary program.

The New Jersey Supreme Court combined the appeals in a number of cases before making its decision. One of those cases is Moataz M. Sheira’s March 2021 case, where he was charged with the third-degree possession of heroin and cocaine. Sheira wasn’t eligible for pretrial intervention because this wasn’t his first offense. After a trial court denied his request for the program, he appealed the decision.

Another case was Richard Gomes, who was charged with third- and fourth-degree assault in November 2020. A previous conditional discharge made Gomes ineligible for pretrial intervention. He appealed this as well and was allowed to apply for the program before the county prosecutor challenged the trial court’s decision in a separate suit.

The appeals court had in both cases ruled that an individual who had received a conditional discharge for possessing cannabis wasn’t eligible for pretrial intervention. The Supreme Court didn’t agree with this, however, with Superior Court Judge Jack Sabatino reversing these rulings.

Sabatino stated that while the Supreme Court’s reversal didn’t mean that individuals with prior conditional discharge were automatically eligible for pretrial intervention, courts couldn’t deny requests since the marijuana law didn’t provide clarification on conditional discharges. The judge then highlighted that the decision was centered on sensibly harmonizing the new law with already existing statutes.

As more states move to remove any inconsistencies existing with regard to marijuana policy, industry players are likely to become more confident of the environments in which they operate, and that could have downstream benefits for other entities such as Advanced Container Technologies Inc. (OTC: ACTX), which specialize in meeting the needs of “plant-touching” cannabis companies.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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420 with CNW — Schumer Meets GOP Senators Over Cannabis Legislation in New Congress

In January, Senate Majority Leader Chuck Schumer (D-NY) convened a second meeting to discuss cannabis legislation for the 118th Congress. This time, he invited a group of Republican senators to strategize the next steps for drafting a bill that could pass. The first meet-up with Democratic colleagues occurred at the beginning of February.

In the recent meeting, the GOP leaders present included Senators Dan Sullivan (R-AK), Rand Paul (R-KY), and Steve Daines (R-MT). The aim of these meetings is to establish a mechanism through which legislators can reach a bipartisan agreement on marijuana reform bill goals in the current Republican-controlled Congress.

Cannabis supporters are hoping for cooperation on the SAFE Plus legislation, which the senate majority leader worked to promote in the last days of the previous session. The SAFE Plus bill was anticipated to include provisions for marijuana banking and expungements alongside other potential minor reforms.

The three Republican senators who took part in the meeting on Tuesday were all original signatories of the SAFE Banking Act from the previous Congress.

In the meantime, Sullivan and Senator Jon Tester (D-MT) filed legislation last week to advance study into marijuana’s therapeutic potential for army veterans. The committee is scheduled to vote on that bill on Thursday.

Last year, Schumer and Senator Cory Booker (D-NJ) introduced a comprehensive cannabis legalization bill, but it failed to receive the 60 votes needed to pass the Senate due to insufficient support. As a grand bargain, Schumer oversaw bicameral and bipartisan negotiations on the SAFE Plus agreement. Schumer blamed some Republican senators for sidetracking the bipartisan proposals after attempts to include the reform in the comprehensive defense and spending bill failed.

On Booker’s part, he claimed that ongoing problems with cannabis banking caused by prohibition led to a “marijuana crisis,” and while he believes reform is still possible, he has emphasized the difficulties of the new political climate on Capitol Hill.

However, Booker has come under fire from some stakeholders in particular for how his stance on banking legislation has changed over time. At one point, the senator vowed to thwart any attempts to advance a standalone SAFE Banking Act without capital constituents but then later expressed interest in reaching an agreement. In a previous interview given in the wake of last year’s election, the senator expressed his concern that if Democrats failed to pass the cannabis bill during the lame-duck period, it might take a long time to do so.

President Joseph Biden has not clearly stated his take on cannabis banking, although he has stated that states should be free to determine their own marijuana laws without interference from the federal government. His government has also raised its profile in support of cannabis reform since the widespread pardoning of minor marijuana possession in October.

Chances are high that marijuana industry operators such as India Globalization Capital Inc. (NYSE American: IGC) will closely follow any developments on Capitol Hill pertaining to marijuana policy reform.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Moves to Create Dynamic New PubCo Targeting Hospitality, Entertainment and Multimedia Production Sectors

Sugarmade (OTC: SGMD), a product and branding marketing company investing in operations and technologies with disruptive potential, today announced its entry into a binding letter of intent (“LOI”) to acquire the real estate assets and businesses of Treasure Mountain Holdings, LLC and Victorville Treasure Holdings, LLC. Management believes that the full resolution of this strategic process will result in two new dynamic growth-oriented business entities. These include a legacy OTC company engaged in the legal cannabis marketplace and a new NASDAQ-listed company involved in hospitality, entertainment and multimedia flex-makerspace operations. “This deal will carry multiple synergistic elements and tremendous value creation,” said Jimmy Chan, CEO of Sugarmade. “TheMediaBox is an idea whose time has come, and this is the perfect vehicle to launch it. We are embarking on a new chapter that stands to deliver significant value to our shareholders as we expand our asset base and revenue streams and diversify our model with an eye toward a major exchange listing.”

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

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush(TM), J Grade Farm and Lemon Glow. For more information, please visit www.Sugarmade.com.

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

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Looking Forward to 2023 Goals for Patented DehydraTECH(TM) Technology

Lexaria’s 2022 R&D efforts saw high levels of success, establishing the company as one of the world’s leaders in the investigation of CBD for controlling human blood pressure and, separately, demonstrating performance enhancements compared to one of the world’s leading anti-seizure medications
During Q1 2023, Lexaria expects to provide additional results from its hypertension study HYPER-H21-4; complete dosing in the company’s animal dementia and diabetes studies; complete dosing in the human nicotine study NIC-H21-1; and submit and publish additional results in research journals
Lexaria’s DehydraTECH technology currently has 28 granted patents, with many more pending patents in countries worldwide

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, is using its patented DehydraTECH(TM) technology to improve the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules. In a letter to shareholders last month, Lexaria CEO Chris Bunka provided a thorough strategic update and insight into the company’s plan moving forward.

Mr. Bunka expressed how the current state of the economy has presented challenges to companies, especially during 2022. Still, Lexaria has navigated these challenges well by focusing on the things it can control, such as applied R&D designed to entice others to work with the company commercially. Despite inflation running at a 40-year high and 2022 stock markets experiencing the longest protracted decline since 2008, Lexaria is forging ahead – increasing staff and successfully handling an unprecedented volume of work (https://cnw.fm/JD2q5).

During 2022, Lexaria’s R&D pursuits were a success, firmly establishing the company as one of the world’s leaders in the investigation of cannabidiol (“CBD”) for controlling human blood pressure and demonstrated performance enhancements compared to one of the world’s leading anti-seizure medications. Lexaria expects that 2023 will be full of additional R&D developments.

Lexaria’s expectations for Q1 2023 include the following:

Additional results from hypertension study HYPER-H21-4
Dosing completion in the company’s animal dementia study
Dosing completion in the company’s animal diabetes study
Dosing completion in human nicotine study NIC-H21-1
Submissions and publishing of additional results in research journals

Also in 2023, Lexaria expects to file its Investigational New Drug (“IND”) application and receive approval from the US Food and Drug Administration (“FDA”) to commence the IND clinical study. The study will be a major step in the company’s maturation as a pharmaceutical company and will be its primary research focus once it commences.

Lexaria’s DehydraTECH technology currently has 28 granted patents, with many more pending patents in countries worldwide. The technology is best thought of as an additional layer that providers of consumer supplements, prescription and non-prescription drugs, nicotine, and CBD products can utilize to improve the effectiveness of their own existing or planned new offerings. It is suitable for use with a wide range of product formats, including pharmaceuticals, nutraceuticals, consumer packaged goods, and over-the-counter capsules, pills, tablets, oral suspensions and more.

DehydraTECH is designed specifically for formulating and delivering lipophilic (fat-soluble) drugs and active ingredients – increasing effectiveness and improving the way APIs enter the bloodstream. The benefits of DehydraTECH include faster delivery of the drug, increased bioavailability, increased brain absorption, improved drug potency, reduced drug administration costs, and masks unwanted taste, removing the need for additional sweetening ingredients.

Since 2016, Lexaria’s DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption and, reduce the time of onset from one to two hours to just minutes.

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

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