420 with CNW — New York to Evaluate Struggling Cannabis Industry as Hiccups Allow Illicit Market to Flourish

Kathy Hochul, the governor of New York, has issued an order to reassess the state’s adult-use cannabis licensing program due to various setbacks. Those hurdles, including lawsuits and administrative challenges, have not only stood in the way of the legal marijuana market but have also led to the proliferation of illicit sellers.

The assessment aims to identify ways to expedite license processing and facilitate quicker business openings. Additionally, the assessment will conduct a comprehensive review of the state’s Office of Cannabis Management’s (OCM) organizational structure and procedures.

Hochul, a member of the Democratic Party, has openly complained about the launch process of recreational cannabis in the state, referring to it as a failure. Since the commencement of sales in 2022, just a little more than 80 legal dispensaries have been established.

The initial phase of the legalization law allocated retail licenses exclusively to nonprofit organizations and people with previous cannabis-related convictions. Additionally, it introduced a $200 million equity fund aimed at assisting applicants adversely impacted by the drug war in setting up dispensaries.

However, the licensing procedure encountered legal obstacles and implementing the equity fund faced delays, thereby impeding the legal marijuana market from thriving. Consequently, unauthorized dispensaries began to emerge throughout the state, particularly in New York City. The situation became so problematic that Hochul requested online platforms such as Yelp and Google refrain from listing these illegal establishments.

Despite efforts to regulate the market, the regulatory bodies struggled to cope with the overwhelming number of license applications. The OCM, responsible for processing licenses, has only 32 employees dedicated to reviewing applications, while it has received about 7,000 applications last year.

This decision to review the program came shortly after a senior official at the agency was sent on administrative leave after allegations from the NY Cannabis Insider that the agency had exhibited biased enforcement practices, particularly targeting a cannabis processor. Commissioner Jeanette Moy of the Office of General Services, along with other state officials, will spend at least 30 days immersed in the agency as part of the assessment process. Together, the team will develop plans to improve the agency’s operations and set performance standards for subsequent projects.

OCM’s executive director, Chris Alexander, acknowledged the progress made in building an equitable marijuana market but emphasized the need for improvement in the agency’s operations. He expressed confidence in Moy’s leadership abilities and her capacity to steer the agency in the right direction.

The delays in having a flourishing legal marijuana market in New York is potentially stifling opportunities for local ancillary companies operating similar to Innovative Industrial Properties Inc. (NYSE: IIPR) that would have sprouted and carved out a niche for themselves in this state.

About CNW420

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

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Astrotech Corp. (NASDAQ: ASTC) and AgLAB Inc. Use Mass Spectrometer Technology to Significantly Enhance Hemp and Cannabis Production Yield and Profit

The cannabinoid market value in 2023 was $22.23 billion and is expected to grow at a CAGR of 15.3%, resulting in an estimated market value of $60.36 billion
The global mass spectrometry market will reach $6.77 billion in 2024 and is expected to grow at a CAGR of 6.25%, reaching $9.17 billion by 2029.
Astrotech and subsidiary AgLAB Inc. are using mass spectrometry to boost the profitable yield of hemp and cannabis production

The United States has seen a rising awareness of the health and therapeutic benefits of cannabinoids, prompting an expected market increase of 15.3%, from $22.23 billion in 2023 to an anticipated $60.36 billion by 2030 (https://cnw.fm/srapD). Focused on optimizing and improving higher yields, Astrotech (NASDAQ: ASTC), a science and technology development and commercialization company, and its wholly-owned subsidiary AgLAB Inc., have developed a mass spectrometer designed for use in the hemp and cannabis market.

During the process of converting cannabis biomass into distillate, valuable cannabinoids are typically lost resulting in reduced profits. AgLAB’s Maximum Value Processing (“MVP”) Method that uses the powerful AgLAB-1000-D2 mass spectrometer to test and to accurately configure the distillation system for optimal efficiency.

The AgLAB MVP mass spectrometer and its rugged design is built to withstand the demands of the factory floor. The AgLAB-1000-D2 model offers real-time potency tests during each distillation batch cycle. During the distillation process up to 20 tests per hour can be achieved providing almost instant, real-time results which is used to adjust parameters, such as temperature, feed rate, and vacuum, to optimize potency and increase yields for each batch. Currently testing results can take days to complete resulting in little intelligence towards processing efficiency.

“This product and method fill a void by providing an easy and accurate real-time analysis that is used to make the right adjustments and improve the yields,” an AgLAB employee, was quoted as saying in a press release about AgLAB’s 1000 series (https://cnw.fm/G0nkA).

AgLAB’s method has been extensively tested and has shown impressive results, including increased revenue and profit margins. Internal studies have shown an average revenue improvement of $5,000 per 200 kg of crude, with a 24% profit increase. Furthermore, a case study revealed a 32.9% increase in distillate mass, translating to significant weekly and annual revenue gains.

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

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

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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 — Colorado Bill Seeking to Silence Social Media Posts on Marijuana Raises Concern

A conservative think tank in Colorado has voiced worries about a proposed measure that could have an impact on internet discussions of cannabis and associated products, including hemp. The bill, SB24-158, covers various aspects of internet regulations, including content policies and age verification. A noteworthy clause in it targets social media companies, mandating that they immediately take down any content that sells, promotes or endorses narcotics that are considered illegal.

The definition of “illicit substance” in the bill is expansive, encompassing not just illegal drugs but also substances regulated in the state. It broadly refers to controlled substances categorized under schedules I to V as per state law. Consequently, the bill’s impact would extend to state-legalized cannabis, specific psychedelics legalized through a recent ballot measure, and even some over-the-counter (OTC) medications, including cough syrups containing controlled substances such as codeine.

Additionally, the measure places restrictions on the amount of THC and the ratio of CBD to THC in specific hemp products, imposing restrictions on hemp-derived products meant for human consumption.

Should the bill become law, businesses would be obliged to declare the prohibition of promoting, selling or advertising illicit substances on their social media platforms.

The R Street Institute has expressed concerns about the proposed legislation, claiming that its ambiguous language addressing marketing and the expansive categorization of illegal substances could cause misunderstandings and possible violations of free expression. It points out that the strict language in the measure may make it more difficult for people to openly express positive opinions about cannabis online or for companies involved in the marijuana industry.

Further, the institute argues that these kinds of limitations would be unconstitutional under the First Amendment since the state would have chosen to outlaw the promotion or advertising of these substances in all media if there were actual risks involved. Instead, it highlights Colorado’s history of embracing cannabis legalization and culture, citing examples such as the auctioning of cannabis-themed license plates with terms such as “GOTWAX,” “HASH” and “420.”

SB24-158, which is expected to be reviewed by the Senate Business, Labor and Technology Committee, is primarily supported by Democratic lawmakers, including Senators Dafna Michaelson Jenet and Chris Hansen, along with Representative Meghan Lukens.

Under the proposed legislation, social media companies would need to update and publicly disclose their policies by July 1, 2025. Any policy amendments would require prompt online publication within 14 days of going into effect. Additionally, the companies would be mandated to provide annual reports to Colorado’s state attorney general confirming compliance with the bill’s provisions regarding regulations and definitions of illicit substances.

The broader marijuana industry, including established entities such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), is likely to be concerned that retrogressive bills like the one is Colorado are being filed and considered.

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420 with CNW — Las Vegas Consumption Lounges Usher in New Era for Cannabis Industry

The much-anticipated introduction of cannabis consumption lounges in Las Vegas has finally materialized, with almost 20 establishments reportedly nearing completion, according to regulators. Thrive Cannabis Marketplace opened its first licensed lounge next to its store, just off the renowned Las Vegas Strip, while Smoke and Mirrors Cannabis Lounge opened for business later, having passed the last site inspection by Nevada’s Cannabis Compliance Board (CCB).

For Reset, a marijuana hospitality company with offices in Las Vegas that offered advice to Thrive, the trip took around seven years, according to managing partner Chris LaPorte. The schedule was further extended by bureaucratic procedures, construction delays and regulatory obstacles. Furthermore, the COVID-19 pandemic severely hampered advancement.

However, the majority of these difficulties appear to be resolved now that multiple operators are awaiting CCB’s final certification to launch their consumption lounges. The anticipation surrounding the establishment of consumption spaces in Las Vegas has been building for years, with some having hoped to launch as early as 2022 and others last summer.

However, up until last month, the NuWu Cannabis Marketplace, situated on tribal land near downtown Las Vegas, stood as the sole legal lounge in Nevada.

The proliferation of lounges faced setbacks in 2023 due to stringent regulations concerning smoke ventilation, necessitating substantial investments in advanced HVAC systems by operators. The CCB eventually relaxed air-ventilation requirements for lounges in June 2023. Air quality worries in the industry appear to have since subsided.

Smoke and Mirrors took measures to minimize smoke within its premises, offering alternative consumption methods and premium accessories such as Stündenglass gravity bongs and Chill Steel Pipes. The lounge’s 1,200-square-foot space boasts mid-century modern décor reminiscent of classic Vegas aesthetics. Since its opening on February, it has attracted an average of 80 visitors daily, with an equal split between tourists and locals.

The lounge’s menu includes various products, including dabs, pre-rolls and flower eighths, priced between $20 and $75. Visitors are prohibited from bringing their own marijuana products or accessories into the lounge, and purchases cannot be taken outside the venue.

LaPorte highlighted the establishment’s focus on offering marijuana-infused mocktails, which have proven popular among patrons. The venue’s mocktail menu features marijuana-infused versions of classic drinks, with options ranging from 2.5 to 5 milligrams of THC, priced between $19 and $23.

An estimated 60 to 65 licenses were predicted to be granted when Nevada officials approved consumption lounge regulations in June 2022. As the countdown to 420 (April 20, 2024) approaches, numerous Nevada lounges are nearing final approval, with 18 businesses currently in the final stages of preparation.

Leading cannabis companies such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) are likely to keep a close eye on the way the consumption lounges transform the industry in Las Vegas because there may be valuable lessons to learn should this trend spread to other states and jurisdictions.

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CannabisNewsBreaks – Golden Triangle Ventures Inc. (GTVH) Announces Renewed Partnership with IBN for Corporate Communication Support

Golden Triangle Ventures (OTC: GTVH), a multifaceted consulting company, is partnering with IBN, a financial news and publishing company for private and public entities, to assist with its corporate communications initiatives. IBN and GTVN have previously worked together in 2021, and IBN’s renewed involvement “signifies a paramount advancement toward its objective of maximizing shareholder value and adeptly conveying [GTVH’s] narrative and strategic initiatives.” IBN will generate greater awareness for Golden Triangle Ventures by fully utilizing its investor-based distribution network of more than 5,000 syndication outlets along with various newsletters, social media channels, wire services, blogs and other outreach tools. “As we embark on our most ambitious projects within GTV, we’re actively intensifying our collaboration with IBN,” said Golden Triangle Ventures CEO Steffan Dalsgaard in the press release. “Their outstanding performance and proven success in our prior engagement throughout 2021 unequivocally affirm our decision to reengage. We entrust IBN’s expertise to effectively amplify our achievements and bolster our presence as we are now undertaking some of the biggest projects of our careers.”

To view the full press release, visit https://ibn.fm/sicER

About Golden Triangle Ventures Inc.

Golden Triangle Ventures is a multifaceted consulting company, which operates as the parent business pursuing ventures in the health, entertainment and technology sectors along with others that provide synergistic value to these three core divisions. The company aims to purchase, acquire and/or joint venture with established entities within these areas of business. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors the company aims to do business in. Golden Triangle Ventures is highly focused on acquiring a well-diversified portfolio of companies under one umbrella, which are all managed and owned by the company. An amazing team of professionals support each division and continue to help Golden Triangle Ventures grow daily. For more information about the company, please visit www.GoldenTriangleInc.com.

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

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420 with CNW — VP’s Comments on Marijuana Suggest Campaign Shift on Legalization

Vice President Kamala Harris, speaking at the White House to a group of individuals who received pardons related to marijuana offenses, expressed her support for the legalization of cannabis, marking a potential change in the administration’s stance as the November elections approach. An attendee at the meeting disclosed Harris’s statement, which came after her public call for the DEA to expedite the rescheduling of marijuana.

Harris, who had previously advocated for cannabis legalization as a senator and during her 2020 presidential campaign, has not publicly championed the cause since joining President Joe Biden’s ticket. Throughout the campaign and her tenure as vice president, she has aligned herself with President Biden’s more moderate approach, focusing on ending cannabis-related incarceration and providing pardons for select offenses.

The White House hosted a diverse group for the discussion, including Governor Andy Beshear of Kentucky, rapper Fat Joe, and others, reflecting the administration’s efforts on marijuana clemency. Harris’s call for cannabis legalization, while made in private, marks a significant departure from the administration’s previous reluctance to embrace federal marijuana reform openly.

Despite the administration’s reluctance to endorse federal legalization, Biden has pardoned numerous individuals for federal marijuana possession and directed agencies to review marijuana scheduling.

In the public portion of the meeting, Harris emphasized the urgency of rescheduling cannabis, criticizing its current classification alongside drugs such as heroin. However, Harris acknowledged that rescheduling alone wouldn’t equate to federal legalization. She recognized the complexity of the issue and the need for further action beyond mere reclassification.

Although the White House recorded the closed-door discussion, including Harris’s remarks on legalization, no materials have been released yet.

Harris’s evolution on marijuana policy — from her prosecutorial days in San Francisco to her current support for legalization — reflects a nuanced journey. While the primary focus of the meeting was on the administration’s clemency initiatives, it also served as a strategic move to win over voters, particularly young voters, in light of the upcoming November elections.

Social media was recently abuzz with commentary about Biden’s congressional speech, in which he acknowledged his cannabis pardons and administrative actions. However, his mischaracterization of the pardons, implying they expunge records, could pose legal challenges for recipients.

Nonetheless, it seems Harris is taking on the role of spokesperson for the administration’s cannabis policy leading up to the elections, potentially benefiting both her and Biden’s campaigns.

Leading cannabis industry companies such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) are unlikely to be too excited by the statements attributed to the vice president because the industry has learned that it takes a lot more than opinions to enact reforms at the federal level, especially on matters of drug policy.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Hires Contract Research Organization to Perform Important GLP-1 Human Pilot Study

Lexaria, a global innovator in drug delivery platforms, recently hired a Contract Research Organization to perform their second GLP-1 human pilot study which will test a dissolvable DehydraTECH-GLP-1 oral dose formulation
The announcement follows Lexaria’s WEIGHT-A24-1 animal study announcement examining diabetes and weight loss effects of DehydraTECH-processed GLP-1 drugs and cannabidiol alone and in combination
The move aligns with the company’s resolve to focus on their ability to enhance the delivery of GLP-1 diabetes and obesity drugs

At the beginning of the year, Lexaria Bioscience (NASDAQ: LEXX), a global innovator for enhanced drug delivery platforms, announced its intention to double down on GLP-1 clinical studies for the 2024 calendar year. This followed a successful, active year of R&D in 2023, which saw impressive results from its patented DehydraTECH(TM) technology for the improved delivery of GLP-1 agonists (glucagon-like peptide 1) used to treat type 2 diabetes and weight loss. According to Chris Bunka, the company’s CEO, these initial results fueled the management’s optimism in this new direction, emphasizing its superior pharmacokinetics and safety/efficacy performance of GLP-1 drugs when formulated with the technology.

“Given the overwhelming interest in the GLP-1 sector, this will be a main focus. We are not at this time planning additional 2024 research in the antiviral, nicotine, or PDE5 sectors. We have solid early-stage data in each of those areas that will allow us to build upon those at the right time,” noted Mr. Bunka (https://cnw.fm/xDUGc).

In early March, Lexaria announced a 12-week animal study, WEIGHT-A24-1, to examine diabetes and weight loss effects of DehydraTECH-processed GLP-1 drugs and DehydraTECH-processed cannabidiol alone and in combination. The study, which will have 12 study arms, will involve a total rat population of 72 animals, with over 1,500 blood plasma samples collected over the duration of the study. Lexaria looks to build on the success of previous animal studies, which demonstrated, through brain tissue examination, that DehydraTECH can enable higher levels of drug delivery across the blood-brain-barrier and directly into the brain tissue (https://cnw.fm/98K1V).

Everything is on track with this and other studies, with Lexaria hiring a contract research organization (“CRO”) to perform the second DehydraTECH-powered GLP-1 human pilot study. This randomized, crossover, placebo-controlled investigation will compare three dose formulations, each at a 7 mg semaglutide dose. So far, the manufacturing of the test articles is expected to be completed within 30 days, although Independent Review Board approval will be required before the study commences (https://cnw.fm/FT38Z).

“DehydraTECH has previously shown an ability to improve the delivery of certain drugs destined for the bloodstream through the buccal/sublingual tissues of the mouth and throat,” noted Mr. Bunka. “If this new study is successful in demonstrating efficacy and safety, the potential for a new era in GLP-1 delivery without the need for painful injections or stomach-upsetting tablets could be within reach,” he added.

These milestones highlight Lexaria’s confidence in its DehydraTECH technology for enhancing drug delivery, and its understanding of its potential in the GLP-1 industry.

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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Software Effective Solutions Corp. (SFWJ) Completes Key Acquisitions, Is Committed to Becoming Cannabis Market Leader

MedCana adds to portfolio with strategic acquisition of two cannabis companies
First acquisition represents “leap forward” in SFWJ’s commitment to innovation, excellence within the cannabis sector
Second company holds key production, processing and exportation licenses that will strengthen MedCana’s operational chain

Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ) is growing its footprint in the cannabis space through savvy acquisitions. In the past few months, MedCana, a leading holding company in the cannabis industry, has announced two new acquisitions as the company keeps its eye on making strategic additions to its portfolio.

Last month, the company announced that it was in the final stages of negotiations to acquire its sixth cannabis company in Colombia (https://cnw.fm/iPY1a). This strategic acquisition is extremely significant because the targeted company holds a unique cannabis genetics license, which MedCana believes will revolutionize its potential to create and register unique cannabis genetic varieties for production and commercialization.

“The addition of this new company to MedCana’s portfolio represents a significant leap forward in our commitment to innovation and excellence within the cannabis sector,” said MedCana CEO Jose Gabriel Diaz. “By integrating this company’s cutting-edge genetics capabilities, MedCana will be poised to develop proprietary cannabis strains, enhancing the diversity and quality of our product offerings to meet the evolving needs of consumers and medical patients alike.”

Earlier in March, MedCana completed the previously announced acquisition plus the acquisition of a second company, bringing the number of companies in MedCana’s portfolio to nine (https://cnw.fm/P9n9N). The second company holds key production, processing and exportation licenses that will strengthen MedCana’s operational chain, supporting a seamless integration of supply from cultivation through to global distribution and ensuring the company’s position as a fully self-sufficient entity in the cannabis market.

“These acquisitions represent a monumental step towards our vision of becoming a world-leading integrated cannabis company,” said Diaz. “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.”

MedCana is committed to developing clients and companies in Latin America, initially in Colombia, and partnerships with laboratories, research facilities and hospitals throughout the world. These recent acquisitions reflect the company’s focus on scientific advancements and sustainable practices as it works to achieve the broader goal of leading the cannabis industry through strategic growth and pioneering research. The company is excited about the future prospects these new assets bring to its operations and the vast opportunities for innovation they unlock.

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 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://cnw.fm/SFWJ

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Zoned Properties Inc. (ZDPY) Seizing Real Estate Opportunities in Growing Cannabis Industry

Cannabis industry retail opportunities growing amid evolving regulations, increasing consumer demand, and shifting public attitudes
Demand for specialized, direct-to-consumer properties includes dispensaries, manufacturing or processing centers, and distribution hubs
ZDPY is a technology-driven property investment company that focuses on securing direct-to-consumer real estate opportunities in the regulated cannabis market
ZDPY has recently secured and acquired investment properties in Michigan, Arizona, and Illinois with 100% occupancy and a weighted average lease term of 10+ years
All ZDPY properties are occupied by commercial cannabis tenants, company anticipates $2.5+ million from its property investment portfolio in 2024

Changing regulations and attitudes towards cannabis use are transforming the industry, leading to new opportunities in the real estate sector. Zoned Properties (OTCQB: ZDPY), a technology-driven property investment company, focuses on seizing direct-to-consumer real estate opportunities in the rapidly growing and regulated cannabis market.

Cannabis businesses are expanding significantly as regulations evolve, leading to an increased demand for specialized, direct-to-consumer properties that include dispensaries, manufacturing or processing centers, and distribution hubs. Real estate investors are capitalizing on this demand by acquiring properties for rental income generation while potentially realizing significant property value appreciation as the industry grows.

A case in point is Michigan, where investors, developers, and brokers swiftly pivoted to procure targeted property investments focusing on the needs of cannabis-specific businesses. Along with retail locations, other requirements in Michigan include warehouses, industrial spaces, and growing facilities (https://cnw.fm/Y3372).

In alignment with the evolving market, ZDPY has recently secured and acquired investment properties in Michigan, Arizona, and Illinois. All properties in ZDPY’s portfolio boast 100% occupancy and a weighted average lease term of 10+ years. Each leased property is occupied by a commercial cannabis tenant, and the company anticipates more than $2.5 million from its property investment portfolio in 2024.

Zoned Properties Brokerage has closed over $80 million of commercial real estate deals nationally since 2021. The company reported revenues of $720,450 for the quarter, ending September 30, 2023 – a 17.2% year-over-year increase. In addition, ZDPY reported a positive net income of $114,523 for the September 2023 quarter compared to a net loss of $77,328 last year.

ZDPY is also leveraging digital innovation through its proprietary cannabis technology platform, called REZONE. Similar endeavors have leveraged data-driven insights, analytics, and artificial intelligence to identify potential investment properties, streamline processes, and enhance efficiency.

Overall, industry experts are optimistic about growth prospects for the industry as public attitudes shift rapidly in favor of increased liberalization. In his State of the Union Address, President Biden called for cannabis reform, specifically his intent to review marijuana rescheduling and possibly issue pardons for thousands of users convicted of possession (https://cnw.fm/DZFZ8).

Based in Arizona, Zoned Properties is led by Chairman and CEO Bryan McLaren, whose background in community development and strategic leadership informs the company’s forward-thinking strategy. As the cannabis industry continues its forward trajectory, Zoned Properties is favorably positioned to capitalize on real estate opportunities in the rapidly expanding market.

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

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420 with CNW — Massachusetts Governor Announces Plan to Pardon Low-Level Cannabis Convicts

Governor Maura Healey of Massachusetts has revealed plans to pardon all individuals with simple cannabis possession charges in the state. It is expected that the move will impact a significant number of people.

During a recent press conference, Healey stressed the importance of the announcement, noting that it is among the largest marijuana pardons that a U.S. governor has ever declared. She stated, “We’re doing this simply because justice demands it.”

Although exact numbers on how many people are impacted by the pardon are unknown, Healey hypothesized that the number may potentially reach hundreds of thousands throughout the state of Massachusetts. Healey further underlined the significance of the racial justice that these pardons would provide. Highlighting findings from a 2016 American Civil Liberties Union (ACLU) of Massachusetts report, she noted that while Black people make up only 8% of Massachusetts’s population, they make up 24% of cannabis possession arrests.

“This pardon represents a step towards rectifying the injustices perpetuated by these disparities within our state. We remain committed to addressing racial inequality across all aspects of our legal system,” affirmed Healey.

The pardon exclusively pertains to simple cannabis possession charges and does not extend to other cannabis-related felonies, such as distribution or operating a vehicle while intoxicated. Before the pardon, individuals with such charges on their records faced potential obstacles in securing employment or housing due to their criminal history.

Carol Rose, executive director of the Massachusetts ACLU, hailed the announcement, stating, “Today’s declaration ensures that individuals in every corner of our state are no longer penalized for engaging in behavior that has been deemed legal.”

Governor Healey’s pardon marks the second such initiative following President Joseph Biden’s pardon in 2022, which addressed simple cannabis possession felonies in Washington, D.C., and on federal lands. Biden had urged governors nationwide to take similar actions regarding state-level charges.

In a similar vein, in November 2022, then-Oregon Governor Kate Brown pardoned more than 47,000 individuals in the state for simple cannabis possession felonies involving one ounce and lower.

President Biden subsequently expanded his cannabis pardon initiative in December last year, extending it to include individuals charged with the use or attempted possession of cannabis on federal land, in addition to simple possession. He reiterated his call for governors to issue similar pardons. Biden restated his position in December, noting the need to redress the unfairness stemming from the fact that many people’s lives had been upended by failed cannabis policies.

The action that the governor of Massachusetts is taking is likely to be welcomed by the broader cannabis industry, including companies such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), since it is a step toward fixing the societal injustices that resulted from the prohibition of marijuana.

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