420 with CNW — Marijuana Banking Reform Prospects in US Senate Seem More Positive

The SAFE Banking Act, a bipartisan measure that was reintroduced last month, was recently discussed by the Senate Banking Committee. While the legislation has already been approved by the House of Representatives on numerous occasions, the Senate has never voted on the measure. This is despite Majority Leader Chuck Schumer voicing his support for the proposal.

It is believed that if the bill were to advance to the president’s desk, he would sign it.

The measure’s approval would prohibit federal banking regulators from penalizing financial institutions that provide basic banking services to cannabis businesses in legal states. Its introduction buoyed shares in publicly traded multistate operators a fortnight ago, which observers cite as a sign of how little progress Congress has made on cannabis reform since the inception of the multibillion-dollar marijuana industry.

The hearing by the U.S. Senate Banking Committee isn’t final, however; it is just a requirement for a committee vote and, in turn, floor consideration. The witnesses called to appear before the committee included Senators Steve Daines and Jeff Merkley, who previously sponsored the measure.

In an email, a spokesperson for Daines revealed that the senator was glad that a hearing had finally been scheduled for this banking measure. The spokesperson added that the senator believed that there was strong bipartisan support in the senate for the bill. It is expected that the bill will soon be advanced to the senate floor, with committee chair Senator Sherrod Brown vowing that a separate committee hearing with a markup would follow the initial meeting.

However, experts note that the measure doesn’t require a committee vote or a markup to be enacted. They also highlight that efforts to attach the banking resolution to other bills such as the annual defense spending bill failed in the previous congress.

Many feel that the odds of the proposal being approved remain long. For a debate on a measure to end, 60 votes are needed under the cloture rule in the Senate. Some have also pointed out that earlier this year, the senate considered and rejected a marijuana question.

Last month, a motion to end debate and hold a vote on a measure that would allow the Veterans Administration to conduct clinical studies on the effectiveness of marijuana for PTSD and chronic pain in military veterans was rejected with a lone abstention. The director of Maine’s Office of Cannabis Policy, John Hudak, is also skeptical about whether the 118th Congress will push the measure through.

If cannabis banking is finally permitted under federal law, the cannabis industry could see massive growth as access to funding improves. That would, in turn, also boost the prospects for ancillary companies, such as Advanced Container Technologies Inc. (OTC: ACTX), which focus on meeting the needs of companies that are dealing directly in marijuana or its products.

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

About CNW420

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — New Hampshire Governor Voices Support for Cannabis Legalization After Senate Rejects Bill

Governor Chris Sununu of New Hampshire recently announced support for a resolution to enact marijuana legalization via a system of stores run by the state. What happens next remains uncertain, as a bill that would have established a state-run market, which had been approved by the House during the previous session, was rejected by the Senate. The Senate defeated the measure in a vote of 14 to 10.

However, now that the governor has voiced his support, there may be a renewed push to advance a state-run resolution. In his statement, Governor Sununu stated that public opinion and regional dynamics had forced him to reconsider his previous position on this topic. Sununu explained that New Hampshire was the only state in New England where adult-use marijuana wasn’t legal.

He went on to note that it was reasonable to assume change was inevitable as the majority of the state’s residents were in favor of legalization, adding that ignoring this would be both harmful as well as shortsighted. Sununu also revealed that he was ready to sign a legalization measure that focused on harm reduction instead of profits.

He then listed certain provisions he felt needed to be included in a cannabis legalization measure, which included local control that permitted cities to prohibit marijuana retailers from operating in their jurisdiction. The governor also highlighted that cannabis need not be taxed, as this would help curtail the illicit market which had become exceedingly dangerous with fentanyl’s prevalence. He then underscored how regulating the sale of cannabis would ensure New Hampshire’s citizens were in a safer place.

The bill’s sponsor, House Majority Leader Jason Osborne, stated that he was glad to see the governor weigh in with his support.

In an interview, Karen O’Keefe, the director of state policies for the Marijuana Policy Project, stated that it was encouraging to see the governor express some candor regarding marijuana legalization and acknowledge that the will of the voters would eventually prevail. However, it remains to be seen whether legislators will move to reintroduce a state-run legalization resolution.

This comes after Senate President Jeb Bradley indicated that he didn’t feel legislators needed to be prioritizing recreational cannabis reform at all. In a recent statement, the senate president stated that recreationalizing cannabis at this point would convey a confusing message, possibly worsening the already dangerous drug landscape and placing more at risk. He highlighted that this wasn’t the proper time to divert attention away from addressing the challenges caused by the drug crisis.

This course of action being suggested by the New Hampshire governor is likely to be of great interest to marijuana companies as well as ancillary companies that support the sector, such as Advanced Container Technologies Inc. (OTC: ACTX). Cannabis legislation could significantly impact the trajectory of the industry in the state and create opportunities for business.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — How New York Cannabis Companies Are Getting Creative to Lure Customers

The new legal market for marijuana in New York is growing, and with this comes an increase in demand. To help keep up, businesses in the state are finding new ways to turn marijuana into a range of products, including edibles such as chocolates and gummies.

Smokiez’ National training manager Maddi Burch stated that edibles had become more popular as they appeal to those who didn’t smoke. The demand for gummies at dispensaries in the state is particularly high, which has led many businesses to boost production.

For marijuana to be turned to edibles, it must undergo an extraction process. One extraction facility, urbanXtracts, starts by putting the plant through various machines and filters the extract THC from the plant. THC is one of the two primary compounds found in marijuana, the other being CBD. Unlike CBD, however, THC induces a high when ingested.

End products of this process include concentrates such as the distillate, which winds up in vape cartridges and rosin, which can be smoked. Jonathan DeMart, urbanXtracks’ VP of operations, revealed that the distillate process removes any smells or flavors that could influence how a consumer interacted with edibles.

Before THC is added to an edible mixture, other ingredients such as pectin and sugar are mixed together then heated for about 30 minutes, and then the distillate is added. The introduction of THC makes the mixture psychoactive. Coloring and flavoring is then added before the mixture is poured into molds that hold it until it cools. Once the edibles have cooled, they are then coated in sugar, which can be sour or sweet, after which they are packed, weighed and sealed in the assembly line.

Burch points out that edibles induce a high that lasts a bit longer than the normal high one can obtain from smoking.

Other businesses such as Soft Power Sweets prefer that the process for making edibles be performed by people. The company was one of the first to introduce marijuana chocolates in the state. Its operations are handled by a trio of employees, including a chocolatier and a chocolate machine that helps infuse caramel in the chocolates with THC. Chocolatier Shana Napoli, revealed that the company focused on making delicious flavors.

Soft Power Sweets usually begins with mixing the THC with hot caramel, after which the caramel is poured into molds to set and left to cool overnight. Once this is complete, the caramels are then dipped in chocolate and garnished with a mixture of green cocoa butter and white chocolate then wrapped and packaged — all by hand.

As the innovations of marijuana companies pay off, there will be a trickle-down effect that could see ancillary businesses such as Advanced Container Technologies Inc. (OTC: ACTX) making more sales as marijuana growers move to ramp up their operations to meet the accelerating consumer demand.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Illicit Marijuana Worsens Water Crisis in California

The illegal cannabis trade in California is so tenaciously entrenched that it not only undercuts the legal market but is also responsible for some of the most flagrant water theft in the whole world. The estimated $8 billion illegal marijuana sector uses astonishing amounts of the scarce resource, despite the state legalizing recreational marijuana in 2016.

It has been reported that some individuals haul in stolen water, while others steal it from fire hydrants or dig unauthorized wells. The issue has been made worse by years of intermittent drought in the state. John Nores, the former head of the California Department of Fish and Wildlife Marijuana Enforcement Team, described the quantity of water stolen by the illegal marijuana sector as “mind-blowing.”

Nores estimates that it takes a typical marijuana plant 90 to 275 days to mature, and the plant needs up to five gallons of water every day. That’s a lot of water when you consider that some illegal businesses are growing 2,000 to 5,000 plants on average.

Criminals profit from stealing water all across the world, not only in California. A similar course of action also destroyed lagoons in national parks in Spain and put Chilean farmers in danger of going bankrupt. In Brazil, illegal water theft even resulted in the capture of a former mayor.

Nores claimed to have witnessed illegal well drilling and other blatant water theft in northern California’s Siskiyou County, where illegal marijuana cultivation has long been prevalent and drought conditions are among the worst in the state.

As a result, it’s becoming even more difficult for cattle ranchers and hay growers, many of whom have been forced to liquidate their assets or close their doors entirely, said Ryan Walker, a rancher and the head of the Siskiyou County Farm Bureau. Nevada County, which is situated north of Lake Tahoe, is also facing the same issue.

Adnan Anabtawi, general manager of the Mojave Water Agency, recalled that in 2021 at the height of the cannabis water theft issue, authorities predicted an annual loss of up to 4,000 acre-feet of water due to reports of supplies being trucked in or groundwater being forcibly withdrawn from the basin. To put that in context, an acre-foot is approximately 326,000 gallons, which is enough water to immerse an entire football pitch at least a foot into the ground.

According to those who are monitoring the activities, Californian communities have made strides in combating water theft, and the situation has lately improved. However, it’s a challenge that the state will likely continue to face, and it might put the marijuana sector at odds with other industries and crops vying for the state’s meager water supplies.

As the water crisis worsens, licensed growers may need to explore a variety of cultivation techniques, such as indoor microgardens commercialized by companies such as Advanced Container Technologies Inc. (OTC: ACTX), to maximize the value that they obtain from the limited water resources currently available.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Thai Cannabis Companies Say US-Grown Marijuana Is Threatening Their Businesses

Almost a year after the decriminalization of marijuana amid hopes of a boom in the economy, Thai cannabis cultivators and sellers allege that illegal imports from the United States that sell for a much lower price than the country’s buds are affecting their businesses. Thailand delisted marijuana from its list of prohibited substances in June of last year. This came about as a result of a significant effort by Anutin Charnvirakul, the health minister, to position the nation as a global powerhouse for medical marijuana.

However, the long-awaited marijuana bill has not yet been approved by Thailand’s parliament, which has left the industry’s regulatory structure in a state of uncertainty. Local companies claim that foreign capital is filling the funding void, with many shops around the nation promoting cheap cannabis that has been illegally imported from the United States.

Local marijuana operators argue that foreign brokers are approaching neighborhood dispensaries to market inexpensive, untaxed marijuana that is brought in at a discount and then sold for almost six times the original price.

Recreational marijuana use is still technically not allowed under Thailand’s law. But marijuana booths and shops can be spotted on most streets in major cities and towns due to the spotty regulation. Thai sellers and farmers are concerned that local companies are losing out on the increasing demand as visitors pour into Thailand to enjoy the country’s liberal attitude toward recreational marijuana use.

The Bhumjaithai political party, known for supporting decriminalization, attributes the influx of illegal imports to corrupt officials and political rivalry, which is creating unfavorable press coverage of marijuana reform in advance of upcoming general elections.

Supachai Jaisamutr, a proponent of marijuana legalization for the party, stated that despite the existence of legislation to deal with illegal imports, the officers from the agriculture and customs ministries who are in charge of implementing it do not do so. Supachai mentioned that according to estimates from the nation’s commerce chamber, the marijuana industry contributed roughly $1.2 billion to the economy in 2017. However, the financial advantages are difficult to see for many local stakeholders who are up against foreign capital.

One seasoned marijuana dealer who transitioned into a legal businessman claimed he spent a lot of money making his own fertilizer and soil only to discover that his marijuana was too pricey for a market flooded with low-cost imports.

Growers of marijuana in the United States have many resources available to them, including cultivation supplies such as those from 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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Labor Peace Agreements May Be Good for the Marijuana Industry

Marijuana companies operate in rapidly changing and highly competitive environments, which means that labor disputes can considerably impact their business operations, leading to reputational damage, losses in revenue and even sanctions.

Labor peace agreements are agreements between bona fide labor organizations and a commercial marijuana licensee or license applicant. These agreements start a labor peace period where the employer agrees to not take part in actions that may undermine the ability of the union to organize the workforce while unions agree to not picket, strike or disrupt business operations in any other way.

The agreements also help promote long-term sustainability, social responsibility, productivity, stability and public safety in the marijuana industry by establishing a relationship between workers and employers. Additionally, collective bargaining facilitated by these agreements offer workers a voice in their workplaces, enabling them to negotiate for better working conditions, wages and benefits.

Collaborative relationships with workers also allow employers to recognize the value front-line workers bring to the table. This is in addition to obtaining valuable insights into the concerns and needs of their workforce and developing practices and policies promoting job satisfaction as well as productivity. This can, in turn, help improve morale, decrease turnover and improve overall productivity.

The establishment of labor peace agreements also allows employers to show their commitment to social responsibility and fair labor practices, helping promote economic and social equity in the industry while decreasing the risk of abuse and exploitation.

The marijuana industry’s workers need to be skilled and knowledgeable in various areas, including compliance, security and safety. These agreements help promote public safety by setting up standards for training and certification for workers. Some states in the country have already approved laws mandating safety training. More collaborations between employers, labor unions and workers will facilitate the development of training programs and standards for certification that ensure workers possess the skills and knowledge needed to perform their jobs effectively as well as safely.

Furthermore, as the marijuana industry grows and becomes more regulated, these agreements will provide a foundation for the burgeoning sector to develop in a way consistent with the values of economic and social equity, public safety and environmental responsibility.

All the above points support the use of labor peace agreements in this industry, at least as a first step in helping make sure that the cannabis sector is a source of well-paying and stable jobs for workers as well as a positive force in the communities it serves.

As stability is maintained in the way cannabis companies relate with their workers, operations could grow steadily as these companies focus on innovation to serve the evolving needs of customers. The new products can then attract more customers, which can create further downstream opportunities in the value chains of related companies such as Advanced Container Technologies Inc. (OTC: ACTX), which supplies equipment to grow marijuana indoors.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Washington Governor Enacts Bill Authorizing Cannabis Interstate Commerce

Washington State’s governor has signed legislation allowing interstate marijuana trade in anticipation of a change in federal law. Governor Jay Inslee recently signed the bill introduced by Senator Ann Rivers into law after it passed the legislature last month.

Prior to approving the legislation, Inslee pushed Congress to update the country’s cannabis laws, arguing that legalization at the federal level would support the competitiveness of the highly regulated marijuana market while also upholding health and public safety requirements.

Once a federal law is changed or a federal Justice Department decision authorizing cannabis trading across state lines is passed, the legislation will permit the state to engage in interstate cannabis trade.

Now that this bill has been approved, all three states on the western coastline are ready to allow cannabis export and import. Oregon passed its bill in 2019 while California followed suit last year.

The Washington legislation stipulates that if one of the two federal conditions is satisfied, state authorities must provide written notice of the policy change and any state-level statutory amendments necessary to allow the delivery, sale and reception of marijuana from businesses out of the state. However, under California law, implementation could also begin without taking into account any conditions at the federal level.

Regulators in Washington will also be required to develop rules that will guide marijuana exports and imports. However, the governor will have sole authority to sign agreements with other states. Goods imported from out-of-state businesses would have to abide by Washington regulations, including labeling and packaging guidelines.

Meanwhile, a legislator from Maine has introduced a bill to permit marijuana exports and imports between states where it is legal. A comparable interstate plan was submitted by New Jersey’s senate president last year, but it hasn’t yet been approved.

Additionally, last year, a federal court ruled that the U.S. Constitution’s Commerce Clause made Maine’s law prohibiting nonresidents from running medicinal cannabis businesses in the state unlawful. Some commentators contend that the same logic used to support the residency restrictions also applies to state-level restrictions on marijuana import and export, rendering them invalid. There is also a belief that prohibiting medicinal cannabis imports and exports in states that have legalized it would be seen as both unconstitutional and protectionist.

A marijuana company from Oregon sued in a national court in November, claiming that the state’s current prohibition on interstate marijuana imports and exports is unconstitutional.

If cannabis interstate commerce becomes a reality around the country, states with favorable cultivation conditions could have a competitive edge and perhaps opt to use equipment such the microgardens sold by Advanced Container Technologies Inc. (OTC: ACTX) to produce more cost effectively and sell to states where climate and other conditions make it harder for marijuana to be grown.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Oregon Secretary of State Resigns Due to Cannabis Consultancy Job

Last week, Shemia Fagan resigned as Oregon Secretary of State after receiving significant criticism for taking up a job as a consultant to a cannabis company while her office was concluding an audit of the state’s Liquor and Cannabis Commission. During her announcement, Fagan apologized for working for the business, pointing out that while she had planned to finish her term, it had been an honor to serve the people of Oregon.

She also highlighted that ethics guidelines permitted outside employment, noting that consulting for La Mota wasn’t a conflict of interest as any actions taken on account of the audit would be by the cannabis commission, legislature or governor. Fagan added that any changes in regulation would have also affected many businesses, not just her client. However, she continued, she had exercised poor judgment by working with a business regulated by an entity under audit by her division.

The consulting job is said to have paid her $10,000 a month, with added bonuses for every license she assisted the affiliate of La Mota acquire outside Oregon.

The salary of the secretary of state stands at $77,000 per annum, a low sum, particularly for the office’s tasks, which include auditing state agencies and overseeing elections. Results of the audit, which were released the week before, demanded that the state’s cannabis regulatory agency make changes to some of the rules for cannabis businesses.

Fagan isn’t the first to resign or leave the secretary of state post in Oregon. In fact, two recent secretaries have vacated their four-year term — one because of a death in office and one because the governor resigned and was replaced by the secretary of state. A successor to Fagan will be appointed by Governor Tina Kotek, who stated that she supported Fagan’s decision to resign from her elected office.

Following Fagan’s resignation announcement, Democratic leaders in the legislature released a joint statement declaring that Fagan needed to go. Those leaders included Senate Majority Leader Kate Lieber, Senate President Rob Wagner, House Speaker Dan Rayfield and House Majority Leader Julie Fahey. The statement noted that Fagan’s serious lapses of judgment had destroyed trust with the residents of Oregon, including lawmakers who depended on the work of the Audits Division for important information on public policy. They observed that her resignation would allow the state to rebuild trust and move forward.

Prior to being elected to the position in 2020, Fagan served as a Democratic member of the Oregon Senate.

As the marijuana industry continues its growth trajectory and blips such as this one are avoided, more cultivators will join the space to meet the growing demand for marijuana. By extension, more cultivation equipment, such as the microgardens commercialized by enterprises such as Advanced Container Technologies Inc. (OTC: ACTX), will be sold and revenues earned.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Marijuana Startups Leverage AI to Keep Competitive

The dawn of AI is here, with more and more sectors adopting the use of this technology to improve efficiency, optimize the growth process of businesses, and assist in making faster and more informed decisions. The cannabis industry has not been left behind, with more companies adopting this technology.

For instance, Green Rush Consulting recently launched a chatbot that specifically caters to the needs of the cannabis industry. For more than a decade, this consulting firm helped marijuana entrepreneurs acquire licenses using human consultants.

Zeta Ceti gained inspiration from ChatGPT, leading to the development of Oddysee AI, which can do about 70% of the work on marijuana licensing. Ceti, who showcased the product at a cannabis conference in Manhattan recently, revealed that the remaining 30% would be done by humans.

Jason Rosenberg, cofounder of Oddysee AI, explained how the product would direct users to a cannabis brand by names in their search. Oddysee AI is only one among many other startups in marijuana AI. A Toronto-based company, Predictmedix, is developing a program to test for marijuana impairment.

Little Dragon, a delivery-only business that specializes in high-THC products, also recently launched an AI program on an equity crowdfunding platform. Rachel Figueras, the cofounder of Little Dragon Dabs, revealed that its AI could learn a user’s preferences and assist them in choosing products better than a person would.

While it is expected that more players in the industry will follow suit as the adoption of AI grows, the results will vary due to the difference in regulations in states that have legalized some form of marijuana. Additionally, the increased adoption of this technology in the industry may put licensing consultants, budtenders and other participants out of business.

There are upsides to the technology’s use, however, including the issues it could solve, such as impaired driving. Predictmedix revealed that it utilized multispectral cameras to conduct an analysis of physiological data patterns and identify impairment, regardless of whether that impairment was induced by marijuana, alcohol or even mental illness.

In a statement, Dr. Rahul Kushwah, COO of Predictmedix, added that impairment testing by AI could be stepped up to accommodate higher numbers, which would in turn increase its usefulness for mass-testing scenarios such as workplace screenings and roadside checkpoints. Standardized labeling and testing is also another issue AI can solve, as highlighted by ChatGPT. However, more scientific data and studies are needed on the effects of marijuana in order to make these tools more effective.

As artificial intelligence tools help customers make better product choices, the market could become more sophisticated as buyers become drawn to products made from plants that show evidence of superior genetics, better cultivation methods (organic vs. plants grown using synthetic agrochemicals, for example). This attention to the way cannabis is grown may create extra demand for modern cultivation equipment from the likes of Advanced Container Technologies Inc. (OTC: ACTX) as growers seek to harvest superior yields.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW — Florida Activists Close to Meeting Signature Goal to Qualify Marijuana Legalization Bill for Ballot

Cannabis advocates in the state of Florida have gathered 841,130 signatures for a ballot initiative to legalize cannabis. A poll published recently shows that 70% of residents in the state favor the idea of approving a constitutional amendment to enact marijuana legalization. Data released by the Florida Division of Elections estimates that the legalization campaign may soon reach the 891,523 signature mandate by the end of May.

Earlier this year, advocates had collected enough signatures to commence a state review by the Supreme Court regarding the text of the measure. By February’s end, the campaign had already surpassed 420,000 signatures with this figure rising to 635,961 by the end of March.

The state’s Supreme Court will focus on ensuring that the language of the legislation doesn’t mislead voters or violate the constitution’s single-subject rule. If the court rules that the measure meets the set standards, then the legalization campaign will only be required to submit enough signatures to qualify for the ballot.

Previous attempts to place adult-use legalization resolutions on the ballot have been rejected and/or challenged by the court, which opined that the text of proposed initiatives were misleading.

The state of Florida approved a medical marijuana constitutional amendment in 2016.

Smart&Safe Florida, the organization that filed the marijuana legislation last summer, is being sponsored almost entirely by Trulieve, the largest medical cannabis operator in Florida. Trulieve granted seed money that helped get the campaign going and is said to have contributed roughly $25 million to these efforts.

The bill’s approval will allow existing medical marijuana companies in the state to start selling cannabis to all individuals aged 21 years of age and older. It also contains a provision that would permit legislators to approve additional businesses that are not licensed marijuana dispensaries. Individuals aged 21 and older would be allowed to buy and possess no more than an ounce of marijuana, only 5g of which could be cannabis concentrate products.

However, the resolution excludes provisions such as relief for individuals with previous marijuana convictions and expungements. It should be noted that home growing by consumers would also not be permitted. The bill would take effect six months after it was approved by voters in Florida.

Meanwhile, advocates who aren’t directly involved in the campaign revealed in 2022 that they were looking into plans to have voters decide on what would be a complementary resolution that would allow adults to cultivate their own marijuana at home.

Opening up home cultivation of marijuana by adults would open up exciting opportunities for out-of-state enterprises such as Advanced Container Technologies Inc. (OTC: ACTX) that focus on making indoor cultivation equipment for high-value crops including cannabis.

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

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

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

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

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

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

CNW420 is part of the InvestorBrandNetwork.