Flora Growth Corp. (NASDAQ: FLGC) Agreement to Acquire Multi-national Cannabis Operator Positions Company for New Strategic Growth in Europe

  • Flora Growth is a cannabis cultivator and international brand developer with a strong base of operations at its licensed facility in northern Colombia
  • Flora recently announced its plans to acquire multi-national operator Franchise Global Health (“FGH”), the latest of its strategic acquisitions designed to boost revenues and expand Flora’s international footprint
  • FGH is focused on the German market, where its subsidiary was the first company to sell cannabis
  • Germany is in turn expected to provide the companies a launching pad for success in Europe, where opportunity is defined by the fact that currently Germany provides 75 to 80 percent of Europe’s cannabis sales
  • Flora has already reported cooperative agreements to increase its product distribution pipeline to Switzerland and the Czech Republic

Cannabis cultivator, brand manufacturer and global distributor Flora Growth (NASDAQ: FLGC) is aiming for continued revenue boosts through strategic acquisitions, announcing Oct. 24 that it will obtain the issued and outstanding shares of multi-national operator Franchise Global Health Inc. as the company positions itself to expand its wholesale cannabis sales and brand distribution operations in Europe.

The company stated in its news release that it expects the acquisition to result in at least $3 million of annualized cost synergies within the first year as they eliminate repetitive costs between the two companies (https://cnw.fm/ljXkj). Both companies expect to announce their Q3 financial reports in the near future and while the announcement doesn’t otherwise provide projections of their future performance, Flora’s acquisition strategy has injected significant revenue in recent months, such as when it announced that H1 revenues grew 604 percent YOY to about $15 million (https://cnw.fm/waQOr).

Flora and Franchise Global Health (stylized FGH) expect to close the all-stock deal in December following presentation of the agreement to FGH shareholders for a vote.

“At Flora, we believe that cannabis will dramatically improve the wellbeing of consumers around the globe and that it will become an international trade. Our company exists today to capitalize on that opportunity,” CEO Luis Merchan stated in a video interview about the agreement (https://cnw.fm/jVpFM).

“Together we have a very sustainable business,” FGH CEO Clifford Starke stated during the interview. “We have extremely strong revenue performance without executing on really what we’re trying to do, which is become a fully integrated medical cannabis company of high THC products.”

One of Flora Growth’s strategic acquisitions earlier this year was consumer wellness brand JustCBD, which increased Flora’s profile to more than half a million wellness consumers and 14,000 points of distribution in the United States at the time.

JustCBD’s 79 products registered with the UK’s novel foods standards agency are expected to also help the company expand its operational footprint in Europe and the United Kingdom where CBD is still nascent. Within the United States the company’s NASDAQ listing precludes Flora from participating in the THC (traditional tetrahydrocannabinol cannabis) market however Flora does provide THC and CBD flower and derivatives to international markets thanks to its strong position with a licensed cultivation, extraction and isolation facility in northern Colombia’s fertile climate.

FGH was the first company to sell cannabis in Germany, and the companies perceive Germany as they key to entering the rest of Europe.

“Our full focus is on Germany,” Starke said. “Our strong position is on the distribution front. … Which, if this cannabis market is going to come to life, which we all believe so, … we’re extremely well positioned to go past Germany into the rest of Europe. It’s very important to understand that 75 to 80 percent of the sales in Europe are accounted in Germany.”

Starke added that the acquisition will fill FGH’s strongest need — supply of cannabis. Given Flora’s Colombian cultivation and cost advantages and FGH’s existing relationships with more than 1,200 pharmacies, the companies believe they are well suited to lead the way in medical cannabis in Germany.

“When we started up in Germany and going into 2019, we were selling 60, 70, 80 kgs a month quite easily, and unfortunately supply constraints really limited us and now we’re back on path to regain market share,” he said.

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

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

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000 (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: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — German Plan to Legalize Cannabis Won’t Permit Imports

The government of Germany recently published a proposal detailing its plans to legalize and regulate the recreational use of marijuana. The 12-page plan excludes cannabis imports, which means that the plant will be cultivated in the country. This will be a blow to some global producers who had plans to import their products into Germany, which is said to be the biggest economy in Europe.

In a news conference last week, the country’s Health Minister, Karl Lauterbach, stated that plans were underway to ensure complete cultivation in Germany.

The proposal, which was endorsed by the German cabinet, suggests that the program may be launched in 2024. However, before it is brought before legislators, a blueprint will have to be forwarded to the European Commission for approval. This will help ensure that the law is compatible with EU and international drug laws.

Lauterbach added that Germany would argue that the plan was aligned with global treaties, noting that the legislative process would only proceed after the plan was approved by the European Union. This suggests that these proposals may undergo amendments before they’re presented in a draft law.

The plan proposes the regulation of adult-use marijuana to protect the youth and disintegrate the country’s illicit market, in an approach similar to that of Canada. The proposal also suggests that marijuana will be sold in pharmacies as well as in approved stores, to individuals aged 18 and above. Marijuana purchases will be limited to 20-30g. Germans will also be allowed to grow no more than 3 plants at home.

The proposal states that cultivation will be permitted in greenhouse and indoor facilities to ensure quality control. However, it doesn’t touch on any possible production quotas, which currently govern Germany’s medical marijuana cultivators.

The proposal explained that the entire trade and supply chain will be subject to a controlled system which will include documentation for every step in the chain. Activities like cultivation, processing and distribution as well as retail and wholesale sales will only be carried out by licensed parties.

In addition to this, the proposal states that individuals applying for licenses will be required to demonstrate proof of sufficient financial resources and creditworthiness and proof of entry into the European Union’s beneficial ownership registry as well as expertise.

If the proposal is approved by the EU, it could be used as a blueprint for broader marijuana reform in nations across the EU who’d like to jump on the bandwagon.

That provision allowing home cultivation could very well create a potential market for indoor cultivation equipment commercialized by various entities, such as Advanced Container Technologies Inc. (OTC: ACTX).

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

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Debt Financing Outstrips Equity in the US Cannabis Industry

According to the latest statistics from Viridian Capital Advisors, more and more marijuana companies are opting for debt financing as opposed to equity financing in the United States. Viridian Capital Advisors is a company that advises marijuana entities on strategy and M&A as well as on how to access or raise capital.

According to Viridian Capital, debt financing now commands 93% of all financing secured by marijuana companies that focus on retail or cultivation, while the industry average for debt financing stands at 55.7%. It should be noted that year-to-date figures show a decline in both equity financing as well as debt financing, but the current figures show an uptick in debt financing.

One reason for this trend is that many marijuana firms are maturing and they have their act in order, which means that financiers can look at their balance sheets and lend them money based on their cash flows. Given that many firms are actually earning revenues, it is easier for them to repay loans, and that makes debt financing a better option to equity financing.

To be fair, equity financing isn’t by itself a bad option and many companies have been able to grow and scale their operations by using the money raised through selling stocks. However, the prevailing economic conditions of high inflation have dampened stocks overall, and cannabis stocks haven’t been spared. This has made raising capital from stock exchanges less attractive, at least for the time being.

Analysts forecast that debt financing will continue to be the preferred way for cannabis companies to raise money for their operations and expansion plans until any one or several factors change for the better. These include a reduction in interest rates, a major policy shift at the federal level, a bull run for marijuana stocks or a combination of those factors.

Companies looking to secure debt financing are advised to pay close attention to the payment and prepayment terms upon which their loans are premised. For example, TerrAscend got a $45 million loan issued by Pelorus Equity Group. The loan attracted a 12.7% floating interest rate, meaning that the interest will go up or down depending on the prevailing rates. Given that the Fed is currently raising interest rates in order to put a lid on runaway inflation, chances are the interest paid by the multistate operator could increase in the course of the loan’s term.

Such possibilities several months or years down the road could impact the benefit derived from debt financing, and Viridian Capital cautions that care has to be taken because lenders will do what is within their rights to protect their investments and earn a profit. Since each company is different, companies such as REZYFi Inc. will probably table their own unique positions if and when they need to raise more money to capitalize on an opportunity or get breathing space if they ever face liquidity issues.

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

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Increasing Access to Safe, Legal CBD and THC to Global Consumers

Flora Growth Corp. (NASDAQ: FLGC) is a cannabis cultivator, brand manufacturer and global distributor. “The Canadian company with a productive base of operations in Colombia’s fertile greenbelt is licensed to cultivate cannabis on a 100-hectare (about 247-acre) farming facility and then deliver its product to its GMP-certified processing facility in the nation’s capital, where beauty, phytotherapeutic and nutraceutical products are prepared for market…. Flora’s brand division is focused on developing plant-based consumer products, such as cannabinoid-infused juices, gummies, topicals, inhalables, and skin care. But the company also prioritizes the manufacture of ‘cannabinoid-derived medical formulations that can be sold domestically and internationally,’” a recent article reads. “In September, the company announced that it had completed its first exports of high-CBD dried cannabis flower to Switzerland and the Czech Republic and CBD isolate to the United States. ‘We are proud to help increase access to safe, legal CBD and THC to consumers all over the globe. We look forward to working closely with our partners in Europe and North America to bring high-quality Colombian cannabis and raw materials to market,’ Flora Growth Chairman and CEO Luis Merchan stated at the time.”

To view the full article, visit https://cnw.fm/tB1Rd

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands, designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.

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

About CannabisNewsWire

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

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (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: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Zero Adverse Effects from Successful HYPER-H21-4 Study of DehydraTECH(TM)-CBD for High Blood Pressure

  • The CDC reported more than 670,000 annual deaths in the United States with high blood pressure as a primary or contributing cause
  • Lexaria’s patented DehydraTECH(TM) technology has been shown, through HYPER-H21-4 study, to decrease high blood pressure in subjects through DehydraTECH-CBD-enabled dosing
  • The global antihypertension drug market was valued at over $22.5 billion in revenue in 2018 and is expected to grow at a CAGR of 3.1%, resulting in a market of over $28.7 billion by 2026

In the United States, uncontrolled high blood pressure is common among adults – with only one in four having the condition under control. According to the Centers for Disease Control and Prevention (“CDC”), in 2020, more than 670,000 deaths in the United States had high blood pressure as a primary or contributing cause (https://cnw.fm/oH9ZC). Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has announced that its human clinical study HYPER-H21-4 may be the world’s first study to evidence a sustained drop in blood pressure in normally active patients following multiple weeks of oral cannabidiol (“CBD”) therapy using the company’s patented DehydraTECH(TM)-enabled CBD capsule formulation.

According to company CEO Chris Bunka, this is an exceptional discovery, given that previous studies by others using other oral CBD formulations have failed to evidence this sustained benefit. Additionally, DehydraTECH also demonstrated excellent safety and tolerability results and no adverse changes in liver enzymes throughout the study (https://cnw.fm/9bluE).

“Indeed, of the handful of minor, non-serious adverse events reported, there were nearly as many reported by those patients receiving placebo as those who received DehydraTECH-CBD,” Bunka added. “Consistent with Lexaria’s often-mentioned de-risking strategy, this exceptional safety profile should prove beneficial as we prepare for our planned upcoming Phase Ib Investigational New Drug clinical study to be registered with the U.S. Food and Drug Administration.”

The primary safety and efficacy objectives of the HYPER-H21-4 study were achieved, with a significant reduction in blood pressure achieved in 2.5 weeks and over the course of the five weeks of dosing. During the trial, zero serious adverse events were reported. No adverse changes were observed in liver enzymes, which is an important clinical safety biomarker of oral CBD therapy. The study notes that a significant blood pressure decrease was achieved using relatively low doses of DehydraTECH-CBD, a key indicator of the well-established drug delivery efficiencies of the company’s technology – with superior power evidenced through its unique formulation to reduce blood pressure over other oral CBD formulation (https://cnw.fm/NVoDQ).

The positive findings emphasize Lexaria’s unique position to address the unmet needs of the growing antihypertension drug market. The industry was responsible for $22,557 million in revenue in 2018 and is expected to grow at a CAGR of 3.1%, resulting in $28,797 million by 2026 (https://cnw.fm/jISXH).

Lexaria’s DehydraTECH technology was designed for formulating and delivering lipophilic drugs and active ingredients. It increases effectiveness and improves how active pharmaceutical ingredients (“APIs”) enter the bloodstream. The benefits of Lexaria’s DehydraTECH technology include the following:

  • Speeds up the delivery so that effects are felt in minutes
  • Increased bioavailability
  • Increased brain absorption
  • Improves drug potency
  • Reduces drug administration costs so that lower doses are necessary
  • Masks unwanted taste, eliminating and reducing the need for sweeteners

Since 2016, Lexaria has demonstrated, through its DehydraTECH technology, the ability to increase bio-absorption by up to five to ten times. It has reduced the onset time from one to two hours to just minutes. It will be further evaluated for additional orally administered bioactive molecules, including antivirals, cannabinoids, nicotine and more.

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 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.

To receive instant SMS alerts, text CANNABIS to 21000 (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: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Federal Commission Considers Amending Sentencing Guidelines on Past Cannabis Use

Before states began legalizing cannabis in the late nineties and early 2000s, the plant had been prohibited across the country for decades. Over the years, tens of thousands of Americans were convicted and imprisoned over cannabis-related charges, with a majority of them being people of color.

Even though dozens of states now allow medical and recreational cannabis use, plenty of people are still held back from fully participating in life by cannabis offenses on their records. Hundreds of thousands of people have been arrested for cannabis-related offenses in the past couple of years and cannabis arrests overall make up more than half of all drug arrests across the country.

Amidst the landscape of patchwork state cannabis policies and federal prohibition, the U.S. Sentencing Commission (USSC) has revealed that it is considering making amendments to sentencing guidelines on past cannabis use.

The federal commission recently passed 14 policy priorities for the amendment cycle ending in May 2023. Although the cannabis sentencing item wasn’t included in a previous version of a priority list that was released for public feedback, the item was added and adopted following a mass cannabis pardon announcement by President Biden.

Even though guidelines from the USSC may not be binding on judges, they still have to take the guidelines into account when they make their decisions.

The federal commission is now declaring that it is a priority to consider making amendments to guidelines for the review of defendants’ criminal histories when it comes to cannabis-related offenses. One component of the amendments would make it so that prior cannabis possession offenses are not considered at current court hearings. If the amendment is passed, the effect it could have on America’s criminal justice system could be massive.

Former assistant counsel to the U.S. House Judiciary Committee and a longtime observer of federal sentencing reform proposals Eric Sterling called the addition of possible cannabis sentencing reform a priority ‘good news’. Sterling said that the move was most likely a response to President Biden’s pardon of simple cannabis possession offenses in September.

Soon after the President’s pardon was announced, the USSC released a separate report outlining the demographics of the people who were pardoned. The USSC has also revealed a steady reduction in cannabis cases as more states have passed cannabis policies. This is in its routine reports.

In the near future, prior convictions for simple cannabis charges may be of no concern from a sentencing perspective regardless of whether the commission develops and passes any amendments to cannabis sentencing guidelines.

The industry needs the prohibitionist system to be overhauled. Only then will allied industry actors like Advanced Container Technologies Inc. (OTC: ACTX) be free from improperly being lumped together with companies that deal in marijuana directly.

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

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — New Jersey Legislators Approve Bill Offering Cannabis Businesses Limited 280E Tax Workaround

The State Assembly in New Jersey has approved a proposed bill that seeks to give cannabis businesses in the state leeway to deduct some of their expenses as they file their state tax returns. This is a partial solution to the heavy tax burden that these companies struggle with because of the 280E federal tax policy section, which bars entities dealing in prohibited substances from claiming any federal tax deductions.

The bill, introduced by Assemblymember Annette Quijano, received 60 to 6 vote, showing overwhelming support, and now heads to the state senate for further consideration and a vote before it is forwarded to the governor’s desk.

Generally, most tax policies of different states are a mirror-image of the federal IRS tax code. However, this bill aims at making an exception regarding the way state-legal cannabis enterprises determine their gross income. Under this proposal, the gross income of these businesses will be ascertained without factoring in the provisions of IRS section 280E.

While the businesses will get some relief from their state tax obligations, they will still have to comply with section 280E as they file their federal tax returns. The new law, if enacted, will take effect in the tax year starting on January 1, 2023, following its signing into law, according to a clause within this bill.

According to a fiscal analysis, which was published last month, the economic implications of this bill are likely to be mixed. On one hand, the state government, as well as other local authorities, is likely to forego the taxes that they have been collecting once the state tax code is decoupled from section 280E of the federal tax laws. It isn’t easy to quantify this tax loss because the recreational marijuana industry is still in its infancy (recreational sales commenced in April) in the state and its growth can be accelerated or impeded by any number of factors, so making accurate predictions about the possible tax losses is nearly impossible.

However, the analysis points out that the proposed tax relief could potentially spur more activity within the cannabis industry, thereby triggering the collection of additional tax revenues, which are hard to quantify because the industry is still in flux. Those gains could offset any tax losses resulting from the 280E exemption at state level.

Several states, including New York and Pennsylvania, are considering similar laws to reduce the tax burden suffered by licensed cannabis companies. It would be interesting to ascertain the tangible, quantifiable benefit that enterprises such as American Cannabis Partners might see if such measures were implemented in the jurisdictions where they operate.

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

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

Tampa Alternative Products Expo Brings Together The Local Community For Three Days of Festivity And Business Networking

After various successful shows across North and South America, Alternative Products Expo is coming to Tampa, Florida, this November 10-10, at Tampa’s Convention Center. The event has something for everyone. It features over 250 industry vendors, 20+ speakers from across the industry, and many contests and giveaways.

Starting some years ago with a series of successful Vape events, the Alt Pro Expo team ventured into organizing events for the alternative products sector. These products have significantly disrupted traditional markets, offering people different choices regarding entertainment and health.

Among these categories, attendees can find options like kratom, dietary supplements, hemp derivatives, nootropics, vapes & nicotine replacements, energy beverages, mushrooms, and so on.

The show offers a phenomenal opportunity for investors, as they can discover the untapped potential of new products that have just been released in the market. From high-profile companies to rising SMBs there will be a wide range of business opportunities for those looking to connect with the right partner.

The show provides the alternative products industry with an excellent platform for businesses to come forward and share their business ideas and have some fun. 

“We have invested heavily in our show to make the experience of our exhibitors and attendees better. The $80k we’ll be giving away is aimed at bringing new products into retail stores and helping exhibitors make new connections. General admission attendees can also get a piece of the action and spend at the show as well on a company they want to try out.” – Nicole Beiner, Director of Business Operations & Marketing.

Here are some of the activities attendees can find at the event:

  • Over $80K in cash in giveaways during the whole length of the event
  • There will be money guns and booths giving out cash for attendees to spend at the show
  • A Fun Zone with cornhole, ping-pong, and more activities, along with a Cantina to grab some drinks
  • Free product samples from the vendors exhibiting at the event
  • An unmatched atmosphere that focuses not only on business opportunities but on having a good time

The show will host numerous speakers with impressive backgrounds from the CBD and Alternative products industry, sharing their experiences, strategies, and tips.

To learn more, please visit https://cnw.fm/f6qpK.

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000 (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: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Cannabis Regulation in the Spotlight During Midterm Elections at the Heels of Presidential Pardon; Flora Growth Corp. (NASDAQ: FLGC) Leveraging Colombian Stance to Manufacture Products at Lower Costs

  • President Biden issued a pardon for federally incarcerated inmates with minor marijuana possession charges, urging governors to do the same at the state level
  • The President also requested a reclassification of cannabis, as it is currently listed above other drugs which are key factors in the overdose epidemic
  • Flora Growth, through its Colombian cultivation, is producing a higher quality product at lower-than-average cost margins due to the country’s stance on cannabis regulations

With midterm elections right around the corner, voters in five states – Arkansas, Maryland, Missouri, North Dakota, and South Dakota – will determine the legality of recreational marijuana use within each state on voting day. If passed, these states will join 19 states, two territories, and D.C., which have embraced recreational marijuana use legalization. Currently, 37 states, three territories, and D.C. already recognize the legal use of cannabis for medicinal reasons. According to Paul Armentano, deputy director of the National Organization for the Reform of Marijuana Laws, “When you look at ballot campaigns in the past, you’ll see that this is an issue that crosses traditional party lines. We anticipate similar outcomes this November” (https://cnw.fm/cvqld).

Early in October, President Biden released a formal statement on his goals for marijuana reform across the country. Citing how criminal records can impose unnecessary barriers to employment, housing, and educational opportunities – more disproportionately to those people of color who are more often arrested, prosecuted, and convicted. His announcement included three steps – pardoning all prior federal offenses of simple marijuana possession, urging the governors to do the same in their respective states, and initiating a review by the Secretary of Health and Human Services and the Attorney General to review the classification of marijuana, which is classified higher than drugs currently driving the overdose epidemic (https://cnw.fm/xpxsm).

President Biden’s request for the reclassification of marijuana and the pardons issued at the federal level is helping to change the landscape of the cannabis industry. An international cannabis company, Flora Growth (NASDAQ: FLGC), is focused on cannabis brand building, leveraging natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions, including cosmetics, hemp textiles, and food and beverage. The company operates one of the largest outdoor cultivation facilities in the world with the aim of marketing higher-quality premium products at below-market prices. Flora Growth offers low-cost cannabis cultivation, an expansive brand and product portfolio, and a strategic global distribution platform. The NASDAQ listing of the company precludes it from participating in the US domestic market for adult use presently due to federal prohibitions.

The global cannabis cultivation market was valued at $323.9 billion in 2022. The market is expected to grow at a CAGR of 21.4% from 2022 to 2030, resulting in a market valuation of $1,844.1 billion by 2030. The growing interest in legalizing cannabis for medicinal and recreational use is a driving factor in the market’s growth (https://cnw.fm/FAA2e). Liberalization of laws regarding cannabis cultivation, especially hemp cultivation, has created opportunities in the market – which Flora Growth is leveraging, with the cultivation of its product at a key Colombian farm for international markets.

Flora Growth’s Colombian cultivation provides key advantages, including location, climate, and natural resources – all of which reduce the costs of traditional cultivation. With Colombia’s administration focused on progressive cannabis regulations, Flora Growth can produce high-quality, high-margin products leveraging Colombia’s geo-advantageous location. Over 70% of all cut flowers imported into the US come from Colombia – but Flora Growth is taking it one step further by reducing the associated costs, coming in at just $.06 per gram.

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

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

About CannabisNewsWire

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

To receive instant SMS alerts, text CANNABIS to 21000 (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: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — AOC Calls Out Biden for Excluding Undocumented Immigrants from Cannabis Pardons

Last week, Rep. Alexandria Ocasio-Cortez stated that President Joseph Biden’s cannabis pardon proclamation was limited because it exempted noncitizens, who made up most of the federal possession cases.

During the interview with Pod Save America, the congresswoman emphasized the importance of having a Democratic party that stood up for the immigrant population through the enactment of policies that were more inclusive. She argued that while the presidential pardon should be applauded, it wasn’t inclusive because the proclamation exempted convicted individuals who were undocumented. This is despite the fact that about 90% of individuals who would have benefited from the pardon had status complications.

A 2016 U.S. Sentencing Commission report shows that more than 90% of cannabis possession cases at the federal level in fiscal year 2013 took place at the Southern border. The report states that 94% of the individuals arrested were not U.S. citizens. While these stats have changed as the years have gone by, they still speak to a trend in law enforcement.

Ocasio-Cortez also discussed how individuals with citizenship issues weren’t included in Biden’s pardon, highlighting that it was discriminating against people based on their citizen statuses. The mass pardon issued by Biden only impacted about 6,000 individuals who had committed cannabis possession offenses at the federal level, as well as those who had broken the law in the District of Columbia.

The congresswoman’s sentiments are shared by activists who have also argued that the relief should be extended to individuals with sales convictions as well as immigrants. Activists with DCMJ, Last Prisoner Project and Sensible Drug Policy protested against this last week and demanded that individuals currently in federal prison for cannabis convictions that weren’t limited to simple possession also be released.

This comes after the president himself boasted that his mass pardon had changed the lives of thousands. In an interview conducted after the mass pardon’s issuance, Biden stated that he was keeping his promise to ensure that no individual was in jail for being in possession of or using cannabis. Biden also noted that once released, the records of these individuals needed to be expunged completely because not doing so would make it hard for them to be employed.

In addition to pardoning individuals, Biden also directed that the Department of Health and Human Services and the Department of Justice carry out a scheduling review to determine whether marijuana’s current classification under the Controlled Substances Act was necessary. That review could have major ramifications for companies such as Advanced Container Technologies Inc. (OTC: ACTX) that see the marijuana industry as a major part of the clientele they serve.

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

About CNW420

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

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.