420 with CNW — Bipartisan Lawmakers Express Concern About Persisting Barriers to Marijuana Research

Two bipartisan Congress lawmakers have expressed serious concerns about the slow progress in implementing a measure that President Joseph Biden signed into law aimed at simplifying cannabis research procedures.

Representatives Andy Harris from Maryland and Earl Blumenauer from Oregon sent a letter to the heads of the U.S. Health and Human Services (HHS) and the U.S. Drug Enforcement Administration (DEA) seeking clarification on how marijuana research should be facilitated under the Medical Marijuana and Cannabidiol Research Expansion Act signed into law by the president in 2022.

Harris and Blumenauer, despite their differing views on more general marijuana policy matters, collaborated on this legislation, which they hailed as a significant step forward in resolving the federal government’s restrictions on marijuana research. However, they criticized the DEA and HHS for failing to implement the law effectively, contrary to congressional intentions.

In their letter, the lawmakers emphasized the importance of studying the effects of marijuana use, especially with more than one-half of U.S. citizens residing in states where recreational marijuana is legal and more than four million medical cannabis users. They expressed concern over the delay in processing an estimated 150 research applications for marijuana studies by the FDA under HHS and highlighted the outdated licensing requirements imposed by the DEA, which exclude many researchers.

Further, they noted that the HHS failed to meet its deadline for providing Congress with a report detailing the obstacles to government cannabis research, pointing to the act’s inadequate execution.

Harris and Blumenauer posed several questions to the DEA and HHS, including seeking clarification on timelines for research application decisions, pending research licensing applications, reasons for missing deadlines, and steps being taken to streamline research registration and expand marijuana research.

The collaboration between Harris and Blumenauer is noteworthy given their contrasting stances on marijuana policy. Blumenauer, a cochair of the Congressional Cannabis Caucus (CCC), has long advocated for federal cannabis legalization, while Harris has opposed such efforts. Despite their differences, both lawmakers are committed to ensuring that federal agencies adhere to the law aimed at facilitating marijuana studies.

In a related move, the National Institutes of Health (NIH) recognized the difficulties faced by researchers studying marijuana due to federal prohibition; these challenges include convoluted laws and insufficient cannabis supply. In response, the agency declared its intention to create a resource center for marijuana and cannabinoid studies, demonstrating its dedication to removing obstacles that stand in the way of researchers and scientists.

The research barriers that the lawmakers refer to are a fraction of the hurdles that industry actors such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) have to contend with in the different jurisdictions where they operate.

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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Lexaria Bioscience Corp.’s (NASDAQ: LEXX) DehydraTECH(TM)-CBD Achieves 7% Weight Loss; Sets Stage for 8-week Diabetes and Weight Loss Animal Study

Lexaria, a global innovator in drug delivery platforms, highlighted results from its DIAB-A22-1 animal study, highlighting a 7% reduction in weight and a 19.9% reduction in blood glucose
With this success, Lexaria looks to kick off its WEIGHT-A24-1 animal study to examine diabetes and weight loss effects of its patented DehydraTECH(TM)-processed GLP-1 drugs and DehydraTECH-processed CBD
The study will comprise 12 arms and involve 72 animals. It will run for a total of 12 weeks
This study will build on previous studies that evidenced DehydraTECH’s potential to enable greater penetration of GLP-1 drugs into the brain tissue

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just released highlights from its DIAB-A22-1 animal study on rodents. The study sought to explore the overall efficiency of its patented DehydraTECH(TM)-CBD formulation and its impact on conditions associated with diabetes. This 8-week study resulted in a 7% reduction in weight, as well as a 19.9% reduction in blood glucose, aligning with other study works in animals that pointed to the known anti-inflammatory and antioxidant properties of CBD functioning to lessen some of the essential pathophysiological factors associated with diabetes (https://cnw.fm/IgNkX).

With the success of this study, Lexaria looks to kick off its WEIGHT-A24-1 animal study that will seek to examine diabetes and weight loss effects of DehydraTECH-processed glucagon-like peptide 1 (“GLP-1”) drugs and DehydraTECH-processed cannabidiol alone and in combination. This study will be executed by a Health Canada-licensed Canadian research laboratory and is set to commence within 45 days (https://cnw.fm/X7kIc).

This study will comprise 12 arms, 8 of which composition manufacturing has already been completed. Each arm is expected to be dosed for twelve weeks following an acclimation period, during which over 1,500 blood plasma samples will be collected from the total rat population of 72 animals for the purposes of detailed pharmacokinetic drug delivery analyses. The remaining study arms, 9 through 12, will kick off later due to some information outputs required from the other study arms.

With WEIGHT-A24-1, Lexaria looks to build on the success of its previous studies, including the goal of evidencing DehydraTECH’s potential to enable greater penetration of GLP-1 drugs into the brain tissue. Industry studies have evidenced that small peptide GLP-1R agonists activate a subset of GLP-1R-expressing neurons in the arcuate nucleus involved in weight loss (https://cnw.fm/L51iH). Having expressed its resolve to focus on GLP-1 studies for the 2024 calendar year, the WEIGHT-A24-1 study is one of several planned for 2024.

It highlights the company’s commitment to its course and creating shareholder value. It also reflects its commitment to further developing its DehydraTECH technology and opening it up to more areas of application that offer value to individuals and companies alike. As Lexaria looks to embark on three human studies this year, including a 12-week chronic dosing human study as well as long-term stability testing, WEIGHT-A24-1 will play an integral role in shaping their outcome and affirming the overall effectiveness of its DehydraTECH technology.

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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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 — Study Finds CBD Could Ease Stress, Irritability Linked to Menstruation

A recent study investigated the potential effects of CBD on symptoms related to menstruation, finding that oral doses of CBD helped alleviate various symptoms such as stress, anxiety and irritability compared to participants’ initial conditions. However, depression levels remained unchanged throughout the study period.

The research study marks the first of its kind to explore the impact of cannabidiol specifically on menstrual-related symptoms (MRS) and general irritability. The findings indicated notable reductions in MRS, stress, irritability and anxiety after three months of CBD use compared to baseline measurements.

According to the authors, the results suggest that CBD could serve as an effective treatment for alleviating MRS. Given the limited options for managing MRS and its associated experiences, further exploration of CBD as a treatment option is deemed necessary.

Current remedies for MRS are limited, often involving lifestyle adjustments, behavioral therapies or over-the-counter (OTC) medications. Further, the authors noted that severe psychological symptoms may require pharmacotherapy or hormonal interventions, but these approaches are only effective for a portion of individuals and may entail side effects.

During the trial, participants were instructed to consume CBD softgels two times a day for five days at the onset of menstrual symptoms, for three months. Participants were divided into two groups, one receiving a 160-milligram dose of CBD twice daily and the other receiving 320 milligrams.

Exclusions from the study included individuals who had used marijuana in the past 30 days, those attempting to conceive, individuals with significant health conditions, minors and individuals outside the range of 18 to 55 years of age. One participant withdrew due to skin irritation after a single CBD dose.

Results showed consistent reductions in MRS, irritability, stress, symptom severity and anxiety across both dosage groups compared to baseline. These changes were observed as early as the first month and continued throughout the study period.

Published in the “Experimental and Clinical Psychopharmacology Journal,” the study disclosed support from marijuana companies such as Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED) and Charlotte’s Web.

Limitations of the study included a relatively homogeneous sample, potentially oversampling individuals with moderate MRS severity. The absence of compensation for participants and reliance on self-reported CBD consumption were also noted, suggesting the need for more rigorous verification methods in future research.

Furthermore, the trial lacked a placebo control, leading the authors to acknowledge the possibility of observed symptom reductions being influenced by placebo effects. Despite these limitations, the study offers initial evidence supporting CBD as a management option for MRS, emphasizing the need for further investigation and optimization of CBD administration.

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CannabisNewsBreaks – Software Effective Solutions Corp.’s (SFWJ) Eko2o S.A.S Eyes Expansion into Costa Rica and Central America

Eko2o S.A.S., a leader in sustainable agricultural technologies and a majority-owned subsidiary of Software Effective Solutions (OTC: SFWJ) (d/b/a MedCana), today announced its strategic plans to expand operations into Costa Rica and the broader Central American market. The initiative aligns with Eko2o’s mission to promote sustainable agriculture and innovative technology solutions around the globe. “Costa Rica and Central America are regions known for their commitment to environmental sustainability and high agricultural potential. This makes them the perfect match for Eko2o’s mission and expertise,” said Juan Ricardo Velez, CEO of Eko2o. “We are excited about the opportunity to collaborate with local farmers and businesses to promote sustainable agriculture that benefits both the economy and the ecosystem.”

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

About MedCana

MedCana, operating under Software Effective Solutions Corp., is a pioneer in the integration of technology and agriculture, focusing on the cannabis and emerging technologies in agriculture. With a vision to revolutionize the industry through innovation, MedCana is dedicated to acquiring and partnering with companies that align with its mission of promoting sustainable and technologically advanced agricultural practices. For more information, visit the company’s website at www.MedCana.net.

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

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420 with CNW — New Study Suggests Cannabis Handouts Could Curb Drug Overdose Fatalities

A new study published in the “Journal of Harm Reduction” proposes that distributing free marijuana through harm-reduction groups could significantly decrease drug overdose fatalities and enhance the well-being of users. The study, focusing on a cannabis donation initiative in rural Michigan, marks the pioneering documentation of the harm-reduction approach in the United States, suggesting its potential sustainability contingent upon state regulations.

While acknowledging existing obstacles in marijuana distribution and regulation policies, study authors emphasize the perceived advantages recognized by harm-reduction practitioners. Those advantages include reduced premature mortality, enhanced life quality, pain alleviation, better recovery prospects and heightened safety for both communities and clients.

Spanning from September 2021 to May 2023, the observation involved 10 marijuana-experienced harm-reduction participants who received weekly marijuana allocations through deliveries or pickups. The suitability of the allocations was assessed by clinical staff based on interest and need.

Upon reporting their interactions with participants, staff highlighted numerous observed benefits. For instance, a patient (aged 50 years of age or older), having undergone complex spinal fusion surgery, previously struggled with alcohol abstinence but achieved complete sobriety during recovery, expressing gratitude for the pain relief provided by marijuana products. Similarly, a pregnant participant in her 20s, initially homeless and dependent on opioids and methamphetamine, reduced the frequency of substance use with the aid of donated marijuana products after actively seeking assistance from harm-reduction agencies to access treatment for opioid use disorder during pregnancy.

Examining data from a contributing marijuana company, the study unveiled insights into product varieties and donation scales. Notably, while flower products dominated medical and recreational sales, donations primarily comprised topical, oil and edible products. Furthermore, donation costs represented a mere 1% of overall gross sales, falling considerably below the anticipated annual donation volume.

The authors stress the necessity for further research to fully understand the effects on individuals, the implications for public health, the legal requirements and the best practices for marijuana donation. In light of the persistent overdose mortality linked to illicit fentanyl and synthetic contaminants, the report advocates for harm-reduction practitioners to uphold client autonomy and mutual aid, including the provision of safe psychoactive products to drug users.

While refraining from drawing definitive conclusions regarding the overarching efficacy of harm-reduction endeavors, the analysis relies on interviews with the program administrators, outlining the exploratory nature of the study and its focus on depicting the organic evolution of marijuana donation within a regulated state framework. Overall, the findings underscore the viability of such initiatives, notably the minimal contribution of commercial cannabis companies’ donations to their overall product inventory, affirming the potential scalability and sustainability of marijuana donation programs within harm-reduction frameworks.

Further studies may be needed to ascertain the best ways in which these donations can help those at risk of drug overdose death. As this concept becomes better understood, a clearer picture is likely to emerge of how cannabis legalization can be a major force for good in society well beyond allowing an ecosystem of ancillary businesses, such as Innovative Industrial Properties Inc. (NYSE: IIPR), to thrive around the mainstream marijuana industry.

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420 with CNW — How Cannabis Firms Can Prepare Themselves for Future After Rescheduling

In 2015, shortly after Colorado initiated recreational cannabis sales, marijuana operators faced a significant lesson regarding the strictness surrounding the term “organic” from state and federal authorities. Most operators had to change their business names to exclude the term.

The U.S. Agriculture Department is in charge of the organic label and has accredited third-party organizations to certify farmers and their farming methods. Federal prohibition kept marijuana from receiving official organic certification at the time, and it continues to do so despite developments in licensed cannabis operations.

Even so, there is a clear trend in the prevalence of cannabinoids such as CBG, CBN, CBD, and THC in a wide range of products, from face creams to mocktails, and they frequently have bold organic labels. Although hemp may be cultivated organically, things become complicated when you consider that Farm Bill 2018 legalized the derivatives of hemp that are intoxicating.

However, the marijuana industry, encompassing both high-THC cannabis and low-THC hemp, has significantly evolved since the inception of recreational sales in Washington State and Colorado a decade ago.

While marijuana cultivators and sellers made some mistakes in 2015 by prematurely claiming to be organic, the sector has shown encouraging growth. Marijuana is rapidly approaching its goal of obtaining a membership card in the $199 billion (and rapidly expanding) organic and natural food and beverage sector, in addition to the $22 billion market for organic personal care items.

In many respects, cannabis products have already become mainstream; you can frequently purchase cannabinoids derived from hemp at your local CVS or Sephora.

The impending federal reclassification, coupled with consumer demand and strategic lobbying, may prompt a paradigm shift, allowing high-THC cannabis derivatives to legally bear the organic label.

Looking ahead, several strategies can help companies adapt to the forthcoming changes and capitalize on emerging opportunities:

Elevating manufacturing standards: Adopting CGMP standards regulated by the FDA will become increasingly common. This not only ensures product quality but also fosters consumer trust and market competitiveness.
Seeking organic certification: While federal restrictions persist, preparing for organic certification aligns with consumer preferences for natural products. Investing in organic cultivation methods and sourcing sustainable materials positions companies favorably for future certification.
Cultivating cultural acceptance: With a majority of adults in the United States supporting cannabis legalization, companies should focus on education and advocacy to destigmatize cannabis. Collaborations with influencers along with community engagement and transparent marketing practices can aid in shifting societal perceptions.

The potential economic impact of cannabis is substantial as the substances becomes a more widely accepted natural product. Cannabis enterprises may help make cannabis more widely accepted and successful by putting an emphasis on quality, sustainability and education. This will also open up new prospects for expansion and innovation. Possibilities are bright and promising for those prepared to adjust.

As entities such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) prepare themselves for a future of sweeping marijuana law reforms across the country, it is helpful to envision what the market will be like and position themselves appropriately.

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CannabisNewsBreaks – BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) Announces Closing of $7M Underwritten Public Offering

BYND Cannasoft (NASDAQ: BCAN) (CSE: BYND), an Israeli-based integrated software and cannabis company, recently announced the closing of a firm commitment underwritten public offering with gross proceeds to the company of approximately $7.0 million. BYND Cannasoft expects to use the net proceeds from the offering for general corporate purposes and working capital. In addition, the company has granted Aegis Capital Corp. a 45-day option to purchase up to an additional 15% of the total number of common shares and/or pre-funded warrants and/or Series A warrants and/or Series B warrants sold in the offering, solely to cover over-allotments, if any. On March 14, 2024, Aegis partially exercised its over-allotment option by purchasing 52,500,000 Series A and Series B warrants. Aegis Capital Corp. acted as the sole book-running manager for the offering. Louis A. Brilleman, Esq. acted as U.S. counsel and Owen Bird Law Corporation acted as Canadian counsel to the company, and Kaufman & Canoles, P.C. acted as U.S. counsel to Aegis Capital Corp.

To view the full press release, visit https://cnw.fm/a5lqF

About BYND Cannasoft Enterprises Inc.

BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets “Benefit CRM,” a proprietary customer relationship management (“CRM”) software product enabling small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on our 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible, and price-transparent market. The Cannabis CRM System will include a Job Management (“BENEFIT”) and a module system (“CANNASOFT”) for managing farms and greenhouses with varied crops. BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women’s health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users’ pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (“AI”). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction. Commercialization of the EZ-G device is subject to receipt of regulatory approvals. For further information about the company, visit www.Cannasoft-CRM.com.

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Zoned Properties Inc. (ZDPY) Seeks to Bridge the Real Estate Shortage for the U.S. Cannabis Retail Operators

Many Landlords across the United States currently face several obstacles in leasing commercial properties to cannabis-focused tenants, on the basis of ongoing federal restrictions that impact real estate factors such as insurance, financing, and permitting
Zoned Properties has sought to bridge this supply gap, with a portfolio of investment properties seeking to address the needs of the regulated cannabis industry
The company has recently announced plans to refocus its investment portfolio towards direct-to-consumer retail properties, simultaneously revealing their intentions to market one of their cultivation-oriented sites for sale
Zoned Properties recently revealed that 3Q2023 revenues had risen by 17.2% YoY, whilst guiding for estimated full year rental revenues of $2.5 million over the course of 2024

In 2021, New York state officially legalized the usage of marijuana for recreational purposes; nevertheless, and nearly three years on from the landmark decision, cannabis supply for retail consumers remains painfully constrained. In April 2023, plans to build out a recreational cannabis dispensary in Harlem’s 125th street was thwarted by a lawsuit filed by a prominent Harlem business group, alleging that the planned dispensary would contribute to social issues in the neighborhood (https://cnw.fm/whPja).

Despite cannabis being legal in 38 of 50 states for medical use and 24 states for recreational use, cannabis linked businesses are still faced with significant obstacles when looking to secure commercial properties for the cultivation or sale of marijuana-based products. With cannabis still illegal under federal law, commercial landlords seeking to rent out a mortgaged property face the risk of being called on a loan if a property is used for ‘illegal activity’; similarly, landlords open to leasing to cannabis tenants could face constraints in the form of city-specific zoning rules (https://cnw.fm/jYWTl). It is this unique conundrum which Zoned Properties (OTCQB: ZDPY), a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States, is seeking to address.

The United States’ cannabis industry is expected to benefit from a remarkable 13.93% CAGR from 2024 to 2028, resulting in an annual market size of $67.15 billion by the end of 2028. With a decade of national experience and a team of experts devoted to the emerging cannabis industry, Zoned Properties is seeking to capitalize on the industry’s burgeoning future by targeting commercial properties which have the potential to be acquired and rezoned or permitted for specific purposes, including the regulated and legalized cannabis industry. Separately and in addition to its core real estate development business, the company has sought to leverage upon their considerable commercial real estate expertise within their brokerage business in recent years; since 2021, Zoned Properties Brokerage has closed upwards of $80 million in commercial real estate deals nationally for clients.

Zoned Properties maintains a portfolio of six investment properties located across Arizona, Michigan and Illinois; with each of its leased properties occupied by commercial cannabis-linked businesses. The company currently enjoys a 100% occupancy rate with a weighted average lease term of over 10 years. In addition to maintaining four properties leased and repurposed as regulated cannabis retail dispensaries, the company leases two properties which are operated as regulated cannabis cultivation and processing facilities. Nonetheless, the company has recently sought to refocus its investment portfolio towards direct-to-consumer properties located in states boasting both, a regulated and legal domestic cannabis industry and robust underlying cannabis consumer demand; in doing so, Zoned Properties has announced that it now considers its cultivation sites as legacy properties, reserving the optionality to potentially sell or leverage these holdings to unlock equity to be deployed towards its core business.

Considering its reaffirmed commercial priorities, Zoned Properties recently revealed that the company has listed its cultivation property located in Chino Hills, Arizona for sale at a purchase price of $16 million. A valuable yet non-core asset within the company’s portfolio, the sale of the Chino Valley property could help further streamline Zoned Properties’ portfolio and help recalibrate its real estate offering towards more direct-to-consumer focused properties (https://cnw.fm/4Y6Sw).

“As part of our ongoing strategic review to enhance shareholder value, we are very pleased to announce our intention to sell our Chino Valley Property. The Chino Valley Property, which we now consider a non-core asset to our investment strategy, represents a significant capital reallocation opportunity for Zoned Properties. We expect that, if and when the Chino Valley Property is sold, the non-dilutive proceeds from the sale would be instrumental in supporting the company’s future real estate portfolio acquisition plans,” commented Bryan McLaren, Chief Executive Officer of Zoned Properties.

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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Lexaria Bioscience Corp. (NASDAQ: LEXX) Marks Huge 2024 Milestone with FDA Clearance for its Planned U.S. Phase 1b Hypertension Clinical Trial

Lexaria, a global innovator in drug delivery platforms, recently received FDA clearance for its HYPER-H23-1 clinical study
John Docherty, President of Lexaria, has regarded this milestone as a demonstration of its patented DehydraTECH(TM) technology’s overall viability, particularly in the potential treatment of hypertension
With HYPER-H23-1, Lexaria looks to build on the success of its previous human clinical studies, whose results have been overwhelmingly positive
This marks a considerable milestone even as the company looks to double down on GLP-1 studies for the 2024 calendar year

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced that the U.S. Food and Drug Administration (“FDA”) has given it the requisite clearance to proceed with its planned U.S. Phase 1b hypertension clinical trial. This follows the company’s Investigational New Drug (“IND”) application earlier in the year.

The HYPER-H23-1 clinical trial, entitled “A Phase 1b Randomized, Double-Blind, Placebo-Controlled Study of the Safety, Pharmacokinetics, and Pharmacodynamics of DehydraTECH-CBD in Subjects with Stage 1 or Stage 2 Hypertension,” will seek to explore the overall effectiveness of its patented DehydraTECH(TM)-processed CBD for the potential treatment of hypertension. The primary objective will be to evaluate the safety and tolerability in hypertensive patients, with secondary objectives including efficacy evaluation in reducing blood pressure and detailed pharmacokinetic testing (https://cnw.fm/CpOwI).

According to John Docherty, President of Lexaria, this clearance by the FDA demonstrates its technology’s overall potential, having met the FDA’s high level of regulatory scrutiny.

“This is a significant milestone achievement for Lexaria demonstrating, for the first time, that its DehydraTECH technology meets the FDA’s high level of regulatory scrutiny sufficient to formally commence U.S. registrational clinical testing towards possible future pharmaceutical commercialization,” noted Mr. Docherty.

Since 2018, Lexaria has conducted five human clinical studies for its DehydraTECH-CBD on 134 healthy, normal, and hypertensive volunteers. The results have been overwhelmingly positive, evidencing reductions in resting blood pressure over both acute and multi-week dosing regimens. The studies also produced zero serious adverse events, pointing to DehydraTECH’s potential to have pronounced clinical benefits relative to available anti-hypertensive therapeutics.

With HYPER-H23-1, Lexaria looks to build on the success of its previous studies, ultimately asserting the superiority of its technology, while also inching closer to tapping into the hypertension treatment market, which was valued at $31.76 billion in 2022, and is expected to reach $43.18 billion by 2030 (https://cnw.fm/kTDLS).

“We look forward to commencing this important clinical trial and building upon the wealth of early-stage clinical data we have gathered and presented to the FDA to date demonstrating the safety, efficacy, and novel mechanistic performance of DehydraTECH-CBD in hypertensive patients,” noted Mr. Docherty.

This is a huge milestone for Lexaria and its team, especially following the plans to commence with its diabetes and weight loss animal study, coupled with doubling down on its GLP-1 clinical studies for the 2024 calendar year. All these steps reflect the company’s commitment to creating shareholder value and further developing its DehydraTECH technology, which has the potential to be a leader in its space.

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 — Missouri Announces Date for Submission of Additional Cannabis Microbusiness Applications

The Missouri Department of Health and Senior Services (DHSS) is set to begin receiving the next wave of applications for microbusiness licenses electronically, using its online registry platform. The application window is slated to open from April 15 to April 29, 2024, with licensing expected to be finalized by July.

Last year, the department granted 48 licenses for microbusiness establishments, marking the conclusion of the initial phase in a series of three rounds for the allocation of such licenses.

Microbusinesses refer to licenses for cannabis facilities exclusively available to qualifying individuals and entities and are aimed at facilitating the involvement of underrepresented and marginalized persons in the legal cannabis industry. Unlike dispensaries, microbusinesses are subject to a growth ceiling of 250 flowering plants and are authorized for the transportation, manufacturing and packaging of cannabis products.

Before the application period opens, DHSS has provided potential applicants with several guidelines, including the following:

Applicants may apply for only one microbusiness facility license, which could be either for a dispensary or a wholesale facility.
Applicants are ineligible if any of their owners possess an ownership stake in an existing comprehensive, medical or any other microbusiness cannabis facility certification or license. This condition is to ensure a level playing field for all applicants.
The selection of microbusiness license recipients will be conducted through a random lottery draw, devoid of any consideration of the applicants’ identities. The Missouri Lottery will oversee this process to uphold its integrity.
Following the closure of the application window, qualifying candidates will be categorized by license type (dispensary or wholesale) and congressional. Subsequently, each group will be assigned a unique sequential identifier for the lottery draw, resulting in a total of 16 lottery sets.
All applications submitted on time and with the requisite fee will be taken into account for the lottery. On the other hand, late entries or applications without the required payment will be disqualified.
The lottery drawing, scheduled for June 2024, will determine the order of applicants within each congressional district. All applicants will receive notification via email of their applicant identifier before the lottery drawing.
The results of the lottery drawing will be made public on the department’s website once they become available.

The department is expected to issue a minimum of 144 licenses by the third round, comprising 96 for wholesale vendors and 48 for dispensaries. According to state legislation, the licenses must be distributed evenly across Missouri’s eight districts.

The measures to expand the cannabis industry in Missouri are likely to be a welcome development for established companies such as Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), which would be happy to see prohibition rolled back across the country.

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