420 with CNW — Colorado Opens Recreational Center Built Using Cannabis Taxes

Aurora, Colorado, celebrated the official opening of its new 77,000 ft2 recreational facility on Tuesday, which cost close to $42 million. The project was fully financed by tax revenue generated by legal cannabis sales.

According to KDVR news, the building is the Southeast Recreation Center and Fieldhouse and offers a variety of amenities. It includes a 23,000-foot fieldhouse with an air-conditioned interior; a complete field with turf of the highest caliber; a multipurpose gym with 8,000 feet that can hold three pickleball courts, two cross basketball courts, two volleyball courts and one main basketball court; a track that is 1/9-mile long and elevated above the gym and fitness center; and modern equipment in a 7,600-foot fitness center that includes a functional fitness area, an outdoor fitness area and a fitness studio.

Additionally, there is also a natatorium, which is made up of a 125,000-gallon swimming pool with a maximum depth of seven feet, a jet-filled spa pool, a recreational pool with a 20-foot-tall waterslide, a lazy river and a 25-yard, four-lane lap pool.

The Southeast Recreation Center, according to the city’s press release, is situated close to several neighborhoods and the Aurora Reservoir. It is anticipated that the new center will become a popular regional destination because it has the first indoor fieldhouse in the city as well as a number of other amenities and stunning views of the Colorado mountains.

The facility, which the city began construction on in early 2021, will be Aurora’s second recreational center to open in the past four years. Similar to this one, the other center, which opened in 2019 was also funded by cannabis sales tax revenue.

The opening of these two facilities with legal marijuana sales tax revenue serves as “proof of principle” for activists who worked to make Colorado one of the first two states to legalize recreational marijuana when voters passed Amendment 64 a little more than 10 years ago. Longtime proponents of marijuana legalization argued that state and local governments could economically benefit from a regulated cannabis retail market.

Colorado Governor Jared Polis, a Democrat who has worked to solidify cannabis laws, also stated that the state had done what no one had done before, making history when voters approved Amendment 64. Last summer, Polis signed an executive order to ensure that no Coloradan is prosecuted for possessing, cultivating or using marijuana, which is legal in Colorado as a result of Amendment 64.

When he signed the executive order, Polis stated that barring Coloradans from the workforce because of marijuana-related activities that are legal in Colorado but still punishable by law in other states was bad for residents, the economy and the state as a whole. He further noted that no one should face professional repercussions or be denied a professional license in Colorado if they legally consume, possess, grow or process marijuana in accordance with Colorado law. This includes people who use, possess, grow or prepare marijuana in a way that would be permitted under Colorado law in another state.

By allowing home cultivation, Colorado has paved the way for companies such as Advanced Container Technologies Inc. (OTC: ACTX), which makes indoor cultivation equipment for cannabis growing and other high-value crops, to have a bigger market to 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.

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420 with CNW — State Data Shows Massachusetts Adult-Use Cannabis Sales Have Reached $4B

Authorities in Massachusetts have reported that adult-use cannabis sales in the state have officially exceeded $4 billion since legalization in 2018. Cannabis Control Commission data shows that the state’s gross marijuana sales stood at $4,000,732,607 as of Jan. 12, 2023. This comes a few months after the state reached the $3 billion milestone, indicating continued industry growth.

Currently, Massachusetts has 14 delivery services and 265 retailers. Authorities track and share sales data via the CCC’s Open Data portal. Last year, the state reported$1,483,898,511 worth of cannabis sales.

Separate data from that portal indicates that medical cannabis sales, which are currently valued at $975.4 million, are expected to hit $1 billion between November 2018 and January 2023. While recreational cannabis sales began more recently than medical cannabis sales, regulators track both programs on the platform.

Since the state became the first one on the East Coast to open adult-use stores, the demand from consumers for tested, high-quality cannabis products has remained strong, according to CCC executive director Shawn Collin.

The regulators reaffirmed their dedication to advancing equity around the industry by noting the existence of 29 SEP license holders, 17 Economic Empowerment license holders, and 50 state-certified minority businesses, including women and veterans.

The CCC is also gearing up to start the Social Equity Program‘s fourth cohort this year. The cohort is a free statewide program that offers assistance and training to those who have been indirectly hurt by cannabis enforcement and prohibition and want to work in the legal marijuana industry. The commission claims that the program has benefited close to 900 participants so far. The data also revealed that, for the first time, cannabis sales outpaced alcohol sales in terms of tax revenue for the state last year.

In the meantime, recent state data shows that Michigan marijuana sales reached an all-time high in December. Despite the gradual decline in medical cannabis purchases, the recreational cannabis market has more than made up for it, with total sales reaching $221.7 million by the end of last year.

Similar patterns have been observed in Arizona’s cannabis market, where authorities recently reported that marijuana sales hit an all-time high in October. While purchases of medical cannabis are declining in the state, the adult-use market is growing.

In Illinois, cannabis sales reached an all-time high of more than $1.5 billion last year, with December of last year marking the highest monthly sales volume to date.

These impressive sales records, in a way, suggest that ancillary companies such as Advanced Container Technologies Inc. (OTC: ACTX), which don’t directly touch the marijuana plant, are also benefiting from the success of the industry.

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.

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) Unveils New Line of GrowPod Controlled Environment Farms

Advanced Container Technologies (OTC: ACTX), the exclusive U.S. distributor of self-contained, automated, indoor “micro-farms” called GrowPods, has announced a new line of automated modular GrowPod systems. The new line is designed to expand the GrowPod offerings to a wider range of customers and specialty plant cultivations. The new systems, which are designed and built by GP Solutions, are also known as vertical farms, grow rooms and container farms; each option creates a clean environment that allow plants can grow to their full potential. The new offerings include Flex Farm, a five-tier, five-channel growing system with a hand sink, nursery, and prep area; Hydro Farm, a five-tier hydroponic growing system with many of the same features as the Flex Farm but without the hand sink, nursery and prep area; Hybrid Farm, a unique system with a five-tier, three-channel growing system on one side and a three-tier flood table on the other side; Grow Max, a soil-based pod that comes in single, dual and triple-tier setups designed to use less water while maximizing yields; Entry Unit, a clean room that can be configured for processing, fertigation, or multiple other uses; and DP1 Drying Unit that features NSF-rated insulated walls, dehumidification, circulation fans, HVAC system and carbon filtration that provides an ideal environment for drying plants. The announcement notes that the new line of pods is modular and stackable, making the pods ideal for an array of users, including farms, large commercial enterprises, nurseries, restaurants, grocery stores, nonprofits and more.  

To view the full press release, visit https://cnw.fm/1PT0n

About Advanced Container Technologies Inc.

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

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

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.

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420 with CNW — Oklahoma Voters to Decide on Cannabis Legalization in March

The past two decades have seen a plethora of states across the country vote on measures to legalize either the medical or recreational use of marijuana. By the end of 2022, dozens of states allowed medical marijuana within their borders while nearly 20 states had legal recreational cannabis markets.

These state-level cannabis markets have been extremely lucrative for their home states, generating billions of dollars in cannabis taxes and creating hundreds of thousands of new job opportunities.

Voters in Oklahoma may soon be able to see some of this cannabis action after a measure to legalize cannabis was slated to be voted on in the upcoming March ballot. The initiative in question, State Question 820, would allow the possession and consumption of cannabis for individuals aged 21 years and older.

The campaign behind the cannabis initiative was led by Oklahomans for Sensible Marijuana Laws, with the aim of putting the initiative onto last year’s ballot. This did not happen, however, due to some legal challenges and the measure’s failure to meet the signature deadlines.

It did find new reprieve when Governor Kevin Stitt announced in October that Oklahomans would get to vote on the measure in March 2023. If the measure passes, it would allow persons to possess, distribute and transport up to one ounce of cannabis flower, eight grams of marijuana concentrate and eight grams of concentrated marijuana in a cannabis-infused product. Additionally, the measure would legalize home cultivation and allow residents in the state possess up to six seedlings and six mature cannabis plants.

The initiative would also afford individuals with certain cannabis-related convictions or sentences on their records an avenue to seek expungement or modify their records. Cannabis sales in Oklahoma would be subject to a 15% tax if the state launches a legal market for marijuana.

Oklahomans for Sensible Marijuana Laws worked hard to push the measure, raising $2.74 million through September 30, 2022, and spending $2.57 million on the campaign.

Oklahoma isn’t the only state looking to legalize adult-use cannabis in the upcoming ballots. In Ohio, reformists submitted 135,729 valid signatures for a cannabis legalization initiative before their proposal was forwarded to the Ohio General Assembly for approval.

If legislators take no action or choose to reject the initiative, the Coalition to Regulate Marijuana like Alcohol will have 90 days to submit an additional 124,046 signatures.

Ohio voters will be able to vote on the measure to legalize cannabis on the November ballot if the signature drive is successful.

For those who want to grow their own cannabis once this measure passes and is implemented, lots of indoor cultivation equipment makers, including Advanced Container Technologies Inc. (OTC: ACTX), could be on hand to avail supplies to ensure they succeed in their efforts.

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.

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420 with CNW — Marijuana Firms Are Boosting Brand Loyalty Through Sale of Cannabis Seeds

With more than 30 U.S. states now allowing some form of cannabis use within their borders, hundreds of businesses have sprung up to supply the almost unending demand for cannabis products. As the market attracts more players and becomes increasingly competitive, companies have adopted unique approaches to stand out from the ever-growing crowd and increase brand loyalty among their customers.

One recent tactic that businesses within the cannabis industry have adopted has been to include marijuana seeds in their product lineups. While this might seem counterintuitive because it could encourage consumers to grow their own cannabis rather than purchase from licensed retailers, cannabis companies don’t see it that way.

Trade Roots cofounder Carl Giannone stated that even though plenty of people who have home gardens grow tomatoes over the summer and spring, a whopping 98% of the tomatoes they consume are bought in grocery stores. Applying this logic to cannabis seeds, Giannone explained that if growing tomatoes encouraged people to buy tomatoes then it would make sense to let your customers grow their own tomatoes.

Now that a federal policy change made it legal for marijuana businesses to sell cannabis seeds, more companies are choosing to offer seeds for purchase to their customers. Some companies are using this new product line to boost their bottom lines while others see it as a way to increase brand loyalty and share their genetics with customers.

Rapper and entrepreneur Berner, who is also the cofounder and CEO of Cookies, a cannabis business based in the San Francisco Bay Area, announced in November that his company would start selling cannabis seeds for home cultivation. The cannabis company launched its marijuana seed bank on Black Friday. According to Berner, the company “broke some internal records” during the launch. He stated that there was definitely demand for marijuana seeds among consumers, adding that the company wanted to empower consumers to explore cannabis and learn about cultivating it from the ground up.

This new market is due for a policy change by the Drug Enforcement Administration, which clarified in 2022 that it was legal for cannabis businesses to distribute and sell cannabis seeds across the country.

According to Ryan Douglas, a cannabis cultivation consultant based in Florida, the move could allow businesses to boost their brand recognition and loyalty through high-quality or rare cannabis varieties. This approach of selling cannabis seeds also has the added benefit of potentially boosting the sales of ancillary enterprises such as Advanced Container Technologies Inc. (OTC: ACTX), which focus on making indoor cultivation equipment.

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.

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420 with CNW — Governor Signs Bill Legalizing Recreational Cannabis in US Virgin Islands

The U.S. Virgin Islands is the most recent region in the nation to end cannabis prohibition after Governor Albert Bryan Jr. formally signed two bills legalizing marijuana and facilitating cannabis expungements. Bryan signed the bill just a few days before its 10-day deadline. He also used the occasion to issue a proclamation allowing people to seek pardons for previous cannabis possession convictions.

The governor stated that since the Bryan-Roach Administration started working, officials have operated toward the decriminalization of marijuana use for adults. He also noted that following the personal effort of the representatives in the 34th Congress and preceding legislatures as well as the initiatives of his team, the government has signed into law the Virgin Islands Marijuana Use Act.

According to Bryan, the legislation incorporates key elements of his original proposal, including a simplified regulatory structure for both treatment and adult consumption, enforcement authority for the Department of Marijuana Regulation, entrepreneurial and job creation for Virgin Islands inhabitants, and the establishment of a stream of revenue to help finance essential government programs and operations.

Key clauses in the USVI bill include:

  • Anyone over the age of 21 may possess up to two ounces of cannabis, 14 grams of marijuana products, and an ounce of cannabis-infused tinctures, edibles and ointments.
  • The law will establish the Office of Cannabis Regulation (OCR), which will be in charge of licensing cannabis businesses, regulating the market, and establishing guidelines for packaging, labeling and marketing.
  • There will be different license and permission categories, including those for cannabis producers, distributors, growers, microgrowers, testing facilities and onsite consumer establishments.
  • For every one of the region’s major islands, the Office of Cannabis Regulation will have a limit on the number of licenses it can issue. From Jan. 1, 2025, regulators may issue additional permits if a study is done proving that the extension is required to satisfy customer demand.
  • Cannabis users who use the substance for ceremonial purposes can seek their own growing licenses.
  • On marijuana acquired through dispensaries, there’s going to be a tax of at least 18%, but this won’t be the case for medicinal marijuana. The legislation also specifies licensing costs and imposes a tax of $0.5 per gram on marijuana growers who sell their product to any other licensees.
  • Cannabis-related products will be subject to a trace-and-track scheme.
  • The legalization measure also includes a number of equity provisions, such as priority application ranking for women, people of color, and business owners who have suffered service-related injuries.
  • The maximum THC content for edibles is 100 milligrams with a 10-milligram maximum per serving.
  • The ownership of a marijuana company must also meet residency criteria.

As this cannabis market gets underway, those who qualify to grow their own cannabis could benefit from the cutting-edge indoor cultivation equipment available on the market from several companies, including 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.

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420 with CNW — GOP-Led Congressional Bill Seeks to Reform Gun Ownership Rules for Medical Marijuana Users

The first draft of the marijuana legalization bill for the 118th House meeting has been filed by Republican House legislators, and it calls for allowing medical marijuana patients to buy and own gunsThe legislation, which looks to be similar to a bill that was initially submitted in 2019 but did not move, was introduced by Rep. Alex Mooney (R-WV). The cochair of the Congressional Marijuana Caucus, Rep. Brian Mast (R-FL) along with Thomas Massie (R-KY) are cosponsors of the measure.

The bill’s entire text is not yet available, although it has the same short name as Mooney’s Second Amendment Protection Act from the 116th House. It’s unclear if the bill has changed since that first edition.

Currently, those who use marijuana are prohibited from buying or owning firearms because they are deemed to be illegal users of or hooked on a drug that is federally forbidden, even if they are doing so as a treatment per state law. According to the prior legislation version, individuals using prohibited controlled drugs continue to be prohibited from obtaining a gun, except that they will not be considered illegal consumers or otherwise addicted to a particular controlled drug depending on the person’s use of cannabis for therapeutic treatment in conformity with the law.

Massie discussed the necessity of a gun-focused marijuana policy in 2019, outlining plans to support legislation that would eliminate the current patients’ regulations.

The ban has drawn strong criticism from both sides of the political aisle. Supporters, state officials and legislators claim that it unfairly discriminates against cannabis patients and compels them to forego a constitutional right or acquire firearms through additional, potentially illegal means.

Former cochair of the Marijuana Caucus, Rep. Don Young (R-AK), who passed away and was succeeded by Mast, introduced to the previous Congress a different bill that would have safeguarded the second amendment of all legal marijuana users not only patients. The bill would have included a brief clause to the constitution stating that “addicted or unauthorized consumers of any restricted substance” will not include an individual who is illegally using or addicted to cannabis.

Only those who reside in a tribal jurisdiction or state that allows the use of cannabis by adults would have qualified for the exemption if they adhered to local marijuana laws.

In an attempt to protect gun rights for medicinal cannabis patients, Florida’s former commissioner for agriculture, Nikki Fried, launched a lawsuit against the national government. However, after months of arguing, a court magistrate rejected the lawsuit in November. Since then, Fried has contested the verdict.

Given that the states’ marijuana laws had made it possible for habitual cannabis users as well as other prohibited people to acquire guns unlawfully, the ATF gave a recommendation in 2020 that specifically targets Michigan and mandates that firearms sellers run mandatory background inquiries on all unauthorized gun buyers.

Changes to the laws regulating firearm purchases could have a ripple effect allowing various entities such as Advanced Container Technologies Inc. (OTC: ACTX) to make further inroads into the market as more people no longer have to choose between using medical cannabis or retaining their ability to legally buy and own a firearm.

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)

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420 with CNW — Survey Finds One in Five People Abstaining from Alcohol Are Using Cannabis to Beat ‘Dry January’

A new survey has found that one in five individuals who are not drinking alcohol this January have switched to marijuana as an alternative. The survey found that while 33% of those on a month-long break from alcohol weren’t replacing it with anything, 21% were opting for marijuana and CBD products to get through the month.

Cannabinoids and cannabis were the most common alternative, with the remaining opting for nonalcoholic beverages, including kombucha, soda and seltzer.

The survey also found that young people were more likely to consume marijuana over alcohol, with 34% of those aged 21 to 24 consuming marijuana. This is significantly higher than the 24% of people aged 25 to 34, 22% of those aged 35 to 54, and 9% of individuals aged 55 and above who admitted to consuming marijuana after ditching alcohol.

The survey’s findings highlight a trend showing that as more states legalize cannabis, more individuals are choosing to consume marijuana over alcohol and certain prescription medications.

Prior surveys have also found that most Americans believe that marijuana is safer than tobacco and alcohol.  A separate survey released in 2022 discovered that more Americans were consuming marijuana-infused edibles and smoking marijuana in comparison to those that smoked cigarettes. The poll also found that more than twice as many individuals believed cannabis had a positive impact on its consumers and society as compared to alcohol.

This is consistent with the findings of another survey released in 2022, which found that more Americans thought it would be good if people drank less alcohol and switched to marijuana, in comparison to those who thought substituting alcohol for marijuana would be bad. A separate study funded by the federal government also determined that individuals living in states that have legalized the recreational use of cannabis were less likely to suffer from alcohol use disorder, in comparison to those that have not legalized the drug’s use.

The cannabis effect can also be seen in tax revenue generated, with the states of Washington and Colorado raking in significantly higher revenues from cannabis sales than from either cigarettes or alcohol in fiscal year 2022.

Data from Massachusetts also shows that the state collected more tax revenue from cannabis than alcohol. This has also been observed in Illinois, which collected roughly $100 million more from the sale of adult-use cannabis in 2021.

The state of Arizona also collected more tax revenue from legal marijuana sales than from the legal sale of alcohol and tobacco combined.

As the marijuana industry booms in different jurisdictions, a broader market is likely to be created for entities such as Advanced Container Technologies Inc. (OTC: ACTX), which focus on making ancillary products needed by cannabis businesses.

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)

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420 with CNW — Survey Finds That Maryland Residents Consume Large Amounts of Marijuana

A new survey conducted in the state of Maryland has found that every month, adult residents consume an estimated five more grams of marijuana than their counterparts throughout the United States. Cannabis Public Policy Consulting carried out the survey, which involved thousands of residents in Maryland.

The company’s director, Mackenzie Slade, and director of research, Michael Sofis, shared the results with a work group on cannabis legalization. The results show that one in five adults admitted to using cannabis every day or almost every day with more than one in three adults admitting to using the drug on a monthly basis.

The behavioral economic study also found that residents in the state consumed higher cannabis volumes than others across the country, using about 25.4 grams on average every month. This is a bit high, especially when compared to the 20.2 grams consumed by residents in other states that have legalized the recreational use of marijuana. The survey’s findings also show that cannabis consumers were willing to not only pay $14 per gram for marijuana but also drive some 20 minutes to get it.

Sofis stated that the findings were shocking and reflected an underlying motivation for marijuana.

Maryland legalized medical cannabis in 2014, making it accessible to anyone in the state with a medical marijuana card. During the November 2022 elections, voters in the state approved a measure on the ballot to legalize the recreational use of the drug for individuals aged 21 and above. This is set to take effect on July 1, 2023, once legislators establish a system for the sale of recreational cannabis.

Legislators have been tasked with deciding how the system will operate, which includes how tax revenue from the industry will be collected and allocated as well as how licenses will be issued.

The survey also estimated that during the first year of implementation, the total demand for marijuana in the state would be 824 million grams. This includes medical, homegrown and illegally sold marijuana. In their report, the consultants stated that the state’s marijuana demand was most probably in the top 20% of all states.

Sofis recommends that at least 300 dispensaries be launched in Maryland to meet the demand, with a tax rate of no more than 20% being imposed. He then highlighted the importance of ensuring that the demand was not being under- or oversupplied and emphasized the importance of allowing regulators to have production-management levers. This, Sofis noted, would help prevent a surplus in the market.

The high statistics on marijuana consumption in Maryland create opportunities for entities such as Advanced Container Technologies Inc. (OTC: ACTX), which provides cultivation equipment that can be used by homegrowers and commercial grow operations.

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

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CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX) Positioned in Rapidly Growing Vertical Farming Space

Advanced Container Technologies (OTC: ACTX) today released a forecast on the expected bright future of the controlled environment agriculture sector, which includes vertical farming and the company’s own unique, portable indoor farms called GrowPods. According to the update, Morning Brew reports that vertical farming is “growing like a weed,” while BIS Research projects the sector could expand at a CAGR of 24.30% to become a nearly $20 billion market worldwide by 2029. Doug Heldoorn, CEO of ACTX, describes GrowPods as solutions set to take advantage of this trend. Transportable and scalable, they can provide fresh, nutritious food on a consistent basis virtually anywhere in the world. “GrowPods allow grocers, businesses, non-profits, local communities, and big box retailers the means to grow healthy food, year-round,” Heldoorn said. “Controlled Environment Farming is no longer just an idea… it’s the future of our planet.”

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

About Advanced Container Technologies Inc.

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

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

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

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