420 with CNW — Nevada Conducts Lottery to Select Cannabis Consumption Lounge Licensees

As the Cannabis Control Board of Nevada had earlier announced, regulators held two lotteries on last week to pick the first set of licensees that will be allowed to open marijuana consumption lounges in the state. A total of 40 licenses were awarded during the lotteries.

Half of the licenses went to existing marijuana businesses that wished to add consumption lounges to their facilities while the other half went to companies that wished to open standalone cannabis consumption lounges. Of this number, 10 went to social-equity applicants while the remaining 10 went to other applicants that didn’t fall in the category of social-equity applicants.

During the lottery, regulators had a livestream of all the participating application numbers entered into the draw. All the numbers that were randomly selected were published, and the agency also later published online the names of the companies that had been selected to receive licenses.

It is expected that the consumption lounges will further boost cannabis sales in the state. Nevada earned about a billion dollars during this fiscal year, with the tax collections amounting to at least $152 million. The bulk of these taxes are being channeled to giving schools the funding they need. An increase in sales would therefore make more money available for the public school system in the state.

Governor Steve Sisolak has vowed to keep promoting equity as well as social justice within the marijuana industry. For example, he pardoned at least 15,000 individuals who had been convicted for simple cannabis possession. Those pardons in 2020 were possible as a result of a resolution tabled before the state’s Board of Pardons by Sisolak. The commissioners on that board supported the resolution unanimously, paving way for the governor to proclaim those pardons.

Nevada is moving systematically on the path to end the remnants of cannabis prohibition. For example, a judge in the state recently made a ruling that Nevada’s Board of Pharmacy was in violation of Nevada’s constitution by maintaining the classification of marijuana as a Schedule 1 controlled substance.

This ruling came as a result of a suit filed by the Nevada chapter of ACLU alleging that the Board of Pharmacy’s classification of marijuana created a loophole that allowed police to keep arresting people on marijuana charges despite the existence of a law legalizing both recreational and medical marijuana. The Board of Pharmacy has filed a notice of appeal against this ruling.

That aside, the new licensees are expected to start serving the public in the first part of 2023. This step marks yet another forward step for the legal cannabis industry around the country, including for players such as Flora Growth Corp. (NASDAQ: FLGC) in jurisdictions elsewhere.

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

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 — Federally Financed Study Finds Cannabis Legalization Doesn’t Increase Use Among Teens

The cannabis industry has proven to be extremely lucrative, generating billions of dollars in taxes and creating hundreds of thousands of job opportunities. For the past two decades, states across the country have passed legalization measures and allowed cannabis sales to cash in on the profits. More than 20 states now allow adults aged 21 and over to purchase and consume recreational cannabis at registered retailers.

However, efforts to legalize the controversial plant were regularly met with resistance from critics who argued that legalizing cannabis sales would significantly escalate drug use among the youth and lead to increased criminal activity. However, years after states began legalizing cannabis for adult use, studies have repeatedly shown that the wave of cannabis reform hasn’t been associated with an uptick in drug use among the youth.

A new study from a federal drug agency has added to this growing body of research, concluding that there has not been a commensurate increase in youth drug use since states began legalizing marijuana. In the study, researchers analyzed data from three longitudinal studies that looked at past-year marijuana consumption and frequency in adolescents; the data was collected in New York, Washington State and Oregon from 1999 to 2020.Washington legalized cannabis in 2012, and voters in Oregon allowed marijuana in 2014 while New York has yet to begin sales despite approving a legalization measure last year.

As these and other states chose to legalize cannabis, drug reform opponents argued that this would encourage more youth and children to consume cannabis.

Researchers from Colorado State University, Oregon Social Learning Center and the University of Washington have now found that these claims were baseless, concluding that legalization has not resulted in a significant increase in past-year cannabis use. They published their findings in the “American Journal of Protective Medicine.”

The researchers said that their findings, when taken together with prior research on the matter, made it clear that there hasn’t been an upward trend in adolescent cannabis use in the wake of marijuana legalization. They noted that their research expanded on previous studies that came to this same conclusion, such as a study from Michigan State University, which concluded that retail marijuana sales were not associated with increased cannabis use in underage individuals who could not purchase cannabis from registered outlets.

A survey from the Colorado Department of Public Health and Environment also found that cannabis use among young people has dropped dramatically. This countrywide trend is most likely due to stringent controls put in place in legal cannabis outlets to prevent underage patrons from accessing legal cannabis.

These studies confirm that in a way, licensed marijuana companies such as Flora Growth Corp. (NASDAQ: FLGC) are directly and indirectly helping to combat cannabis use by minors in the jurisdictions where marijuana is legal.

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

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 — Lawmakers Scramble to Secure Agreement on Marijuana Banking During Lame Duck Session

The reality that the House of Representatives will be controlled by Republicans in the coming Congress has created a sense of urgency among legislators who want to see marijuana banking legalized. These advocates are working feverishly to garner support so that a deal is reached during this lame duck session of Congress. Otherwise the prospects are dim if this opportunity is missed.

Members from both sides of the political divide are working tirelessly to secure a compromise position between those who say that the banking bill doesn’t go far enough and those at the other end who think it goes beyond what they find acceptable. Sherrod Brown (D-Ohio), the chair of the Senate banking committee, says that he is optimistic that a deal can be struck this lame duck. He and Senators Jeff Merkley and Steve Daines recently met Chuck Schumer the Senate Majority Leader regarding the SAFE Banking Act.

It will be a tough job getting cannabis banking approved given that two key considerations have to be fulfilled. First, proponents must address the need to pass banking provisions while also combining them with provisions geared at reforming the criminal justice system with respect to marijuana. This is no easy task, because it must please the progressives who want far-reaching reforms, and yet it mustn’t alienate Republicans who can only stomach very modest marijuana policy reforms.

Secondly, the compromise reforms drafted must get the nod of the chair of the Financial Services Committee of the House of Representatives, the leader of the Banking Committee in the Senate and the leaders of both parties in both chambers of Congress. That is a task that will require major negotiations and political gymnastics.

Nevertheless, hopes are high, and efforts to attain both of those goals are already in high gear. For example, Daines, a Republican from Ohio, says that his party colleagues don’t have any problems with the HOPE Act, a House bill tabled by Alexandria-Ocasio Cortez and Dave Joyce. This bill aims at securing federal funding for expungements at state level. Joyce says they are open to including provisions on marijuana research, but if lawmakers want a lot more added, the bill’s chances could dim significantly.

There has also been talk of SAFE Plus, a law that would address cannabis banking while also including language on social justice matters. A number of legislators, including Schumer, are strongly against passing marijuana banking without providing relief to communities that have suffered the worst of the prohibition laws. How these different interests are addressed in one reform package will test the proponents’ negotiation skills to the max, and industry actors such as Flora Growth Corp. (NASDAQ: FLGC) will be watching closely to see whether the lame duck session yields success on this front.

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

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 — New York State Issues Initial Batch of Recreational Marijuana Licenses

Regulators in New York State recently issued the first batch of recreational cannabis retail licenses to 36 applicants. The regulators insist that recreational sales will launch by the end of this year, and this move to issue the licenses is a step toward the attainment of that objective.

To show how committed they are to seeing recreational sales commence this year, regulators revealed that the businesses that qualify to offer marijuana delivery services can launch their operations even before actual adult-use sales begin. This is a departure from what has been the norm in other states where sales are first launched and then delivery services follow.

MJBiz estimates that the state could register recreational marijuana sales of $1–$1.2 billion in 2023, and then those sales will gradually increase to about $2.2–$2.6 billion a year by 2026.

Of the 36 licenses granted, 28 were awarded to people who had cannabis convictions on their records or those with family members who had been incarcerated on marijuana charges. The remaining eight licenses were awarded to nonprofits. The recipients of this batch of 36 licenses include Essential Flowers, NYCCABUDS and Gotham CUARD as well as Kush & Kernet.

While announcing these first licensees, the Office of Cannabis Management, the agency in charge of regulating recreational marijuana in New York State, revealed that it was in the process of scrutinizing 903 social equity license applications in order to choose the initial 150 recipients. These licensees will be helped to lease premises and receive funding support for their operations; $200 million has been earmarked to support these social equity programs.

David Feder, a marijuana lawyer in New York, described the state’s action of issuing the 36 licenses as “bold,” especially given that there is a lawsuit challenging some requirements that license applicants have to meet. This federal lawsuit takes exception to a condition that requires applicants to have what the OCM called a “significant presence” within the state. This condition was intended to prevent multistate operators based outside of New York state from coming in and dominating the industry, to the detriment of locally based companies.

New York is yet to finalize all the policies that will govern the recreational market. However, some requirements that current companies in the medical cannabis industry must meet are triggering sharp responses from these entities. Most of them are multistate operators. For example, MSOs will be required to pay $5 million as a one-time fee to be licensed and then pay $3 million for each site they wish to operate; they will also have to wait at least three years before opening a store specifically for recreational marijuana sales.

The intentions of the OCM are laudable in terms of promoting social equity businesses, and the entire marijuana industry, including companies such as Flora Growth Corp. (NASDAQ: FLGC), are probably going to keep a keen eye on how the industry develops through this model.

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

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 – Flora Growth Corp. (NASDAQ: FLGC) Announces Q3 2022 Financial Results

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, released its financial and operating results for the third quarter and nine months ended Sept. 30, 2022. Among the highlights, the company reported 414% year-over-year and 510% year-over-year increases in revenue for the three-month period and nine-month period ended Sept. 30, 2022. In addition, Flora achieved a 703% year-over-year increase in gross profit for the three-month period ended Sept. 30, 2022. The company will discuss these results in its earnings call at 4:30 p.m. ET today, as detailed in the press release. “The third quarter of 2022 was another exciting quarter for Flora as we continued to lay the foundation of our business for the long-term,” said Luis Merchan, chairman and CEO of Flora Growth. “During the quarter, we exported products to several new markets, including distribution of our Colombian grown high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate to the United States. Our global distribution network, coupled with our high-quality Colombian flower and derivatives, leave Flora well positioned to capitalize on the evolving global cannabis landscape.”

To view the full press release, visit https://cnw.fm/jVbA6

About Flora Growth Corp.

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

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

About CannabisNewsWire

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

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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420 with CNW — Marijuana Research Bill Heads to Biden’s Desk After Senate Approval

Only a few weeks have passed since President Joseph Biden directed that a medical review be conducted on the categorization of marijuana in the Controlled Substances Act and also issued mass pardons for simple cannabis possession convicts. Now the upper chamber of Congress has approved a bill easing marijuana research, and that bill is headed to the president for enactment.

The passage of this bill is notable because it is the first time that a bill focused on marijuana policy reform has succeeded and been forwarded to the president. Before the vote was cast on the Senate floor, Majority Leader Chuck Schumer mentioned that there were ongoing productive discussions on broader marijuana reforms that could be passed during this lame duck session of Congress.

H.R. 8454, or the Medical Marijuana & Cannabidiol Research Expansion Act, was introduced in July this year in the House of Representatives. Its progress was swift in the lower legislative chamber, and it was then sent to the upper legislative chamber where it was passed last week.

It should be noted that this bill would have been passed earlier in the Senate, but one lawmaker, Senator John Cornyn (R-TX), held it up in September by objecting to the expedited way in which the legislation was being handled with agreement from both sides of the political divide. Cornyn’s objection wasn’t premised on anything within that law, but he was in a way protesting against the failure to handle other pieces of legislation that he had interest in. His hold was terminated last week, and the bill was then put to a vote

Rep. Earl Blumenauer, a Democrat from Oregon, was one of the House sponsors of this law. He revealed that the need for compromise led him to accept the removal of a provision granting researchers permission to use marijuana sourced from the same state-legal dispensaries that consumers access their marijuana from. The motivation for this clause was to allow the findings of any research conducted to depict as closely as possible the real-world benefits or side effects if any that consumers are exposed to when they use the marijuana currently available in jurisdictions where it is allowed.

This law imposes a 60-day timeline within which the attorney general can approve an application for a proposed study or write to the applicant asking for additional information prior to making a decision on the matter. It also makes it easier for scientists and researchers to gain access to larger volumes of marijuana for research purposes. Physicians will also be able to discuss medical marijuana with patients in states where marijuana is legal, among other reforms that the bill proposes.

It remains to be seen by industry actors such as Flora Growth Corp. (NASDAQ: FLGC) how the passage of this law translates into tangible benefits as they conduct their own R&D programs aimed at better serving the consumers in the markets where they operate.

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

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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Schedules Q3 2022 Earnings Call

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced that it will host its third quarter 2022 earnings call via webcast at 4:30 p.m. ET on Monday, Nov. 28. During the webcast, Flora management will deliver financial and operational results for the third quarter ended Sept. 30, 2022, and provide updates on the company’s commercial wholesale operations, house of brands and life sciences division strategies. Following the presentation, Flora management will open the call to analysts, media and investors in a Q&A format. Interested parties should visit https://cnw.fm/0ku2U to register for and access the webcast. An archived version will be available on the company’s website within approximately 24 hours after the live event.

To view the full press release, visit https://cnw.fm/2Q8lW

About Flora Growth Corp.

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

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

About CannabisNewsWire

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

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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420 with CNW — NJ Governor Teams Up with Cannabis Firms to Discourage Consuming Black Market Marijuana

The past two decades have seen dozens of American states legalize cannabis for medical and recreational purposes. Cannabis has since proven to be one of the fastest-growing industries in the country, generating billions of dollars in sales and creating hundreds of thousands of new employment opportunities.

However, even though the United States is now home to thousands of legal cannabis businesses, the illicit marijuana market still thrives. Data shows that in 2019 black market sellers sold around $8.7 billion worth of cannabis in California, the country’s largest marijuana market compared to $3.1 billion worth of legal sales. Illegal cannabis cultivation has also significantly contributed to water depletion, pesticide and chemical contamination, and endangered ecosystems.

New Jersey governor Phil Murphy is now partnering with a coalition of major marijuana brands to launch a campaign encouraging consumers to buy from legal sellers and avoid the illicit market. Most cannabis consumers overwhelmingly purchase from black market sellers. Illicit cannabis tends to be several times cheaper than the legal options and doesn’t require consumers to fulfill any conditions before purchasing.

The Buy Legal campaign will be led by the U.S. Cannabis Council (USCC), which includes companies such as Columbia Care, Canopy Growth, Cresco Labs, Wana, Curaleaf, Cronos Group and Viola.

The campaign was announced during the recent Black CannaBiz Expo in New Orleans. In a press release, Governor Murphy said that the state of New Jersey had established a “well-regulated adult-use cannabis market” since the plant was legalized in 2021. He noted that the illicit cannabis market was still alive and well, which put the consumers at serious risk of untested and unregulated products.

Murphy said that the Buy Legal campaign would provide resources that would help his administration protect local, regulated cannabis enterprises, ensure the safety of cannabis consumers and reinvest in communities.

USCC CEO Khadija Tribble said that marijuana consumers have to know where they can procure safe, high-quality, tested marijuana products. Furthermore, she said that minority marijuana business owners deserve the resources provided by such a national campaign to attract more consumers to their premises.

According to former NBA player and Viola CEO Al Harrington, the campaign comes at a transitional time when the cannabis industry can be leveraged to create generational wealth.

Anacostia Organics CEO Linda Mercado Greene says that she has become concerned with the number of unregulated businesses that do not strive to meet safety and testing requirements. Consequently, it is incredibly important that consumers are educated on the importance of purchasing legal, safe and regulated products from numerous licensed entities, such as Flora Growth Corp. (NASDAQ: FLGC), which operate in different markets around the country.

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

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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Marks Key Step in Progress Toward Commercializing Medicinal Cannabis

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced the completion of its new laboratory located in Bogota, Colombia. Specializing in the manufacturing of compound formulations utilizing cannabis derivatives and traditional master formulas, Flora Lab 4 will become part of Flora’s group of laboratories. These include existing labs that produce cosmetics, phytotherapeutic products, dietary supplements, and cannabis extraction and transformation. “The completion of Flora Lab 4 is an important step in Flora Growth’s progress toward commercializing medicinal cannabis. This lab is built to produce prescription-grade medications and manufacture cannabis-based formulations,” said Luis Merchan, chairman and CEO of Flora Growth Corp. “We look forward to giving access to prescribing doctors in Colombia and, more importantly, to patients who stand to benefit from safe, high-quality medicinal cannabis.”

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

About Flora Growth Corp.

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

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

About CannabisNewsWire

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

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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420 with CNW — Federal Judge Dismisses Suit Challenging Ban on Gun Rights for Medical Cannabis Patients

There are an estimated 3.6 million registered medical cannabis patients in the United States with slightly more than 700,000 residing in the state of Florida. But, despite the fact that dozens of states have legalized medical marijuana and launched legal markets, the drug is still illegal at the federal level.

This often leads to situations where businesses and customers abiding by state law are penalized by the federal government, which still considers cannabis to be illegal. One major example is the fact that cannabis businesses cannot access banking and financial services despite paying billions of dollars in taxes.

On the other end of the spectrum, recreational and medical cannabis customers have also found themselves running afoul of federal law despite consuming cannabis as per state law. For starters, the federal government has banned medical cannabis patients from purchasing and possessing firearms, a move that has been called unconstitutional because it is in direct violation of the second and fifth amendments.

Last week, a federal Florida judge dismissed a lawsuit from state agriculture commissioner Nikki Fried that challenged the federal government’s decision to prevent medical cannabis patients from legally accessing firearms.

Fried filed the lawsuit in April on the basis that the ban was unconstitutional and was optimistic about last week’s hearing, stating that her legal team had done a “compelling job” arguing the merits of the lawsuit before a federal judge. She filed the lawsuit alongside Florida medical marijuana patients who had been barred from purchasing firearms by the “unconstitutional and discriminatory” federal policy.

However, her lawsuit was dismissed by a U.S. District Court for the Northern District of Florida judge in a 22-page ruling. Judge Allen Windsor ruled that while medical cannabis patients were allowed to consume cannabis by state law, doing so was considered criminal at the federal level. As such, the judge ruled that there was a precedent for denying these individuals their right to bear arms.

He stated that a congressional rider meant to prevent the Department of Justice from using tax dollars to interfere with medical cannabis programs at the state level simply prevented prosecution. It did not, however, “bless the plaintiffs’ actions” forever, he said, arguing that purchasing and consuming medical cannabis was still a crime at the federal level whether or not the user was prosecuted.

With Fried’s lawsuit being thrown out, medical cannabis patients who are honest about their cannabis use when they fill out a background check form from the Bureau of Alcohol, Tobacco, Firearms, and Explosives will be prevented from purchasing firearms.

These inconsistencies between federal marijuana policy and state-level laws don’t just affect consumers. Even companies such as Flora Growth Corp. (NASDAQ: FLGC) find themselves having to navigate a complex legal maze in order to adhere to state laws while avoiding running afoul of federal policies.

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

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

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