Flora (NASDAQ: FLGC), a leading cultivator, manufacturer and distributor of global cannabis products and brands, today announced the certification of its Bogotá-based compound formulation laboratory, Flora Lab 4, following the required regulatory inspection by INVIMA (Colombia’s equivalent to the U.S. Food and Drug Administration). According to the update, the inspection certifies the lab as meeting Current Good Manufacturing Practices standards as determined by INVIMA. “We are very pleased to have received CGMP certification and to bring effective medicinal cannabis treatments to patients in Colombia. We applaud the Colombian government’s acknowledgment of the power of this plant by requiring all health insurance providers to cover the cost of medical cannabis. This policy is fundamental to fair access to these medicines for Colombia’s roughly 30 million eligible patients,” said Luis Merchan, chairman and CEO of Flora. “At Flora, we know the future of cannabis relies heavily on the transformation of this unique plant into mainstream medicines, accessible to the populations who need it most. We are proud to be playing a leading role in the progress toward that goal.”

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

About Flora Growth Corp.

Flora is a global cannabis company dedicated to bringing the benefits of cannabis to people worldwide. Its commitment is to create, master and connect the international cannabis supply chain by setting the standard for world-class cultivation and manufacturing, thoughtful brand development, and rigorous research and development of medical-grade cannabis products that meet the highest standards of quality, safety and efficacy. Flora’s mission is to create a world where the benefits of cannabis are accessible to everyone, and it is working toward that goal by becoming a leading importer and exporter of cannabis to meet demand in every corner of the market. 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://ibn.fm/FLGC

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Following the opening of seven adult-use dispensaries on Jan. 10, 2023, the first week of recreational cannabis sales in Connecticut was marked by high customer demand, low stock levels and the introduction of gummies. Businesses increased staff, pushed online transactions, shifted employees from cannabis markets, and fulfilled orders outside for customers waiting in line to keep up with the increased demand.

Despite numerous restrictions on retail cannabis sales, the Department of Consumer Protection (DCP) reported that adult-use sales exceeded $251,000 in the first few hours of operation.

With three of its four medical marijuana licenses converted into hybrid retail permits to serve recreational users, Fine Fettle Dispensary has seen a fourfold increase in transactions during the past week. The company chose to fulfill orders primarily through online preorders and scheduled pickup times at its various locations, with notification updates sent via text or email.

Similarly, long lines formed outside the Zen Leaf dispensary in Meriden, where customers cheered and were given free donuts and coffee.

To reduce the long checkout line, the Botanist in Montville used a team of staffers outside the store to take customer questions, log orders under tents on mobile tablets and inform customers about available strains.

Connecticut has one of the most restrictive adult-use cannabis markets in the nation. Only 13 businesses of any kind had licenses when it first legalized cannabis, and all 13 businesses paid high premiums to convert their medical cannabis licenses into hybrid retail and production operations.

Producers pay a $3 million fee, while dispensaries pay a $1 million fee. However, if businesses agree to form two separate joint ventures with two social-equity applicants, which includes two additional licenses, the fees could be reduced by half.

The availability and variety of products have also been hampered by potency limits and product bans. THC is limited to 30% for flower and 60% for all other cannabis products under Connecticut’s adult-use program, restrictions that do not apply to the MMJ market.

For recreational users, it is forbidden to use products that are administered like medicine, such as capsules, pills, suppositories, and sublingual products that go under the tongue.

Additionally, Connecticut adopted novel classification systems that prohibit medical and adult-use retailers from using names of conventional cannabis strains, including Gorilla Glue, Gelato or Wedding Cake. Instead, the strains are sold under names with pharmacological connotations, such as Sativarin R T23.12, Indicol VW T28.57 and Hybridol HI T25.13.

Despite the difficulties facing the retail industry, consumer demand is strong, and retailers anticipate business growth in the months to come, especially after the holiday shopping season.

The 2022 MJBizFactbook predicts that recreational sales in Connecticut will reach $300 million to $375 million this year as more growers, manufacturers and sellers come online; projections call for those numbers to reach $650 million to $825 million by 2026.

As these new markets take off, expansion-focused companies such as Flora Growth Corp. (NASDAQ: FLGC) will have more viable options to study as they expand their footprint across the country and internationally.

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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Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced revenue guidance of US$90 million to US$105 million for fiscal year 2023. Flora’s 2023 revenue guidance reflects expected organic growth in its House of Brands division and expansion of its Commercial & Wholesale division capabilities. In addition, the forecasted growth incorporates Flora’s new German-based business as established through the acquisition of Franchise Global Health. “We are pleased to announce that we will meet our guidance for 2022 and are issuing revenue guidance of $90 million – $105 million for the year 2023,” said Luis Merchan, chairman and CEO of Flora. “Our 2023 forecasted revenue range represents anticipated growth in excess of 100% over last year and highlights our continued momentum, despite a challenging macroeconomic backdrop that has disproportionately impacted the cannabis industry.”

To view the full press release, visit https://cnw.fm/5oe5H

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.

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Cannabis businesses in New Jersey may soon be able to enjoy tax benefits that have been available to companies in other industries for decades. Thanks to cannabis’ federal status as a controlled drug, licensed marijuana businesses cannot access tax benefits, including deductions, despite paying billions of dollars in taxes.

The New Jersey Senate Budget Appropriations Committee recently approved two bills that would finally make it possible for cannabis businesses to deduct some expenses on their state tax returns. The companion measures came from the Assembly and the Committee’s chamber before the committee made them identical and advanced them. The pair of bills, which are merely a stopgap measure as IRS Tax code 280E still blocks cannabis businesses across the country from making federal deductions, were passed in a unanimous vote.

Licensed marijuana businesses in New Jersey will at least be able to deduct some expenses from their tax returns under the two companion bills. The version of the bill introduced by Assemblymember Annette Quijano was amended in committee before advancing past the full chamber in October. During the amendments, committee members agreed to eliminate a provision that would have locked out cannabis businesses with gross receipts of more than $15 million of the state tax deductions. On the other hand, the Senate version of the state tax deduction bill was amended to include these Assembly provisions.

Even if the companion bills are enacted, however, cannabis businesses still won’t be able to file for tax deductions in their federal tax filings due to federal law.

According to a 2022 fiscal analysis, the economic impact of these legislations will likely be mixed. For starters, states may end up losing an “indeterminate annual loss of revenue” as cannabis businesses would have relief from some of the tax they currently pay to the state. On the other hand, this is good news for businesses that will have the opportunity to reduce their annual tax obligations and increase their revenue.

According to the Office of Legislative Services (OLS), gaining access to these tax deductions and credits may allow cannabis businesses to “generate more economic activity.” This could indirectly result in an “indeterminate amount of additional annual revenue” for local and state governments, the OLS noted.

Aside from New Jersey, several other states are working to alleviate the unique financial pressures that challenge the cannabis industry due to federal prohibition. Cannabis regulators in Iowa have revealed that they will ask the legislature to take up reform on the matter while a House committee in Pennsylvania advanced legislation to allow cannabis businesses to make certain tax deductions for expenses last year.

As states lose patience over federal inaction on matters of enacting cannabis regulatory reforms, sector actors such as Flora Growth Corp. (NASDAQ: FLGC) could increasingly see state-level reforms aimed at supporting the industry overcome some of the hurdles they face.

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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Flora Growth (NASDAQ: FLGC), a leading outdoor grower, manufacturer and distributor of cannabis products and brands worldwide, has scheduled a webcast to provide an overview of the company’s operational milestones achieved in 2022. The year-end review is slated for Jan. 30, 2023, and will begin at 4:30 p.m. ET. The webinar, which will be prerecorded, will feature Flora Growth chair and CEO Luis Merchan, who will discuss the company’s 2022 operational performance; Merchan will also talk about the company’s 2023 revenue guidance. Those who attend the event will receive a recording of the webcast after it is concluded; a recording of the webcast will also be available on the Flora Growth website within 24 hours.

To view the webcast, visit https://cnw.fm/1zATA

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

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. For more information about the company, please visit www.FloraGrowth.ca.

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.

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Nearly every state with a legal marijuana market has passed an outright ban on the public consumption of cannabis. Both medical marijuana patients and recreational users are only allowed to use cannabis within the confines of their homes, and each state has policies that require consumers to use their cannabis product privately and away from the eyes of the public.

Unfortunately, marijuana has an extremely thick and potent smell that tends to linger in spots without proper ventilation and can be recognized some distance away from the smoker. A Washington, DC, woman whose downstairs neighbor used legal cannabis finally got sick of the potent smell drifting into her home and took legal action. According to Josefa Ippolito-Shepherd, cannabis smoke from her downstairs neighbor constantly drifted up into her retirement home in Cleveland Park, and try as she might, she just couldn’t get rid of the scent.

Her first efforts to alleviate the issue were unsuccessful; her downstairs neighbor refused to stop smoking indoors,, and the landlord refused to evict the neighbor. Since cannabis is now legal under Washington DC law, Ippolito-Shepherd couldn’t call the police and bring criminal charges against the neighbor. In fact, police told her there was nothing they could do for her, and DC council chair Phil Mendelson said that undoing the legalization of cannabis would be the only way to fix her problem.

Consequently, Ippolito-Shepherd took her grievance to the court in August 2022, arguing that the smell of burning marijuana was a public nuisance. This was the first case of its kind against America’s burgeoning cannabis industry, but it may not be the last.

With most states now allowing some form of cannabis, there have been plenty of complaints regarding the strong scent of marijuana smoke. Worries about second-hand exposure to the smoke by people neighboring smokers, dispensaries and marijuana farms is also a concern.

The issue is tricky. Smokers say that complaints such as these impede their ability to enjoy medical or recreational cannabis within the confines of their own homes while nonsmokers argue that the smell is noxious and potentially harmful to their health.

Ippolito-Shepherd said that she has the “right to breath fresh air” in her own home, adding that she has no problem with people smoking cannabis in their own homes, but she just doesn’t want the smoke invading her home. She is asking Washington, DC, to ban indoor cannabis smoking in multiunit buildings, something that is bound to have nationwide repercussions if her efforts are successful.

California NORML director Dale Gieringer noted that cities in California are already considering the prospect of banning cannabis smoking in residential buildings and apartments to prevent secondhand smoke. San Fransisco also considered banning smoking in apartments, but the city did not pass a smoking ban after activists pointed out that cannabis users are already banned from smoking in public.

This lawsuit could have serious ramifications for the entire marijuana industry, and it is likely that enterprises such as Flora Growth Corp. (NASDAQ: FLGC) are keeping tabs on proceedings to know how it pans out.

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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Flora (NASDAQ: FLGC) has transitioned from the development stage to a full-scale international distributor with operations in over 12 countries worldwide, achieved under Luis Merchan’s tenure as CEO. “Merchan has also spearheaded several mergers and acquisitions, most notably JustCBD and Vessel Brand, which have since set the company up for rapid growth. Flora also secured $34.5 million in financing and signed deals with key retail distributors such as Tropi, a Colombia-based distributor, Walmart and Macy’s. The company also completed its first import of CBD-containing food and beverage products into the United States from Colombia under its Mambe brand. It has also signed an agreement with luxury clothing and lifestyle brand Tonino Lamborghini to distribute designer CBD beverages through this retailer,” a recent article reads. The piece further discusses Merchan’s confidence in the company’s strong progress while working toward market expansion and product diversification. “Under his leadership, Mr. Merchan is slowly turning Flora into a global leader in the CBD space while also helping it execute its strategy to achieve its short-term and long-term objectives.”

To view the full article, visit https://cnw.fm/K5bS9

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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Research from the University of Colorado, which was recently published in the publication “Psychological Medicine,” found that recreational decriminalization was linked to increased marijuana use and reduced alcohol use disorder (AUD) symptoms but wasn’t linked to other maladaptations. The researchers advised, nevertheless, that this information is difficult to assess and deserves exploratory research in future studies. Although their results show that marijuana consumption is not risky, the researchers could not pinpoint major variations in these bad consequences as effects of legalizing marijuana.

They found that inasmuch as there was a negligible difference in average alcohol intake, individuals living in areas where cannabis was legal seemed more unlikely to get injured when they were under alcohol influence versus their twins who resided in regions where cannabis was still prohibited.

Additionally, in a study published in “PLOS One” last year, researchers from Michigan State University suggested that in states where marijuana is legal, cannabis sales volumes could be preceded by the increasing incidences of marijuana onsets for older individuals but not for barely legal individuals who cannot purchase recreational cannabis in a retail outlet.

Based on recent federally funded research, individuals living in regions where recreational cannabis is allowed showed lower levels of AUD than those who reside in places where cannabis is still criminalized. According to the study, young individuals who spent much of their puberty under legalization were neither more nor less likely to have used marijuana at 15 years of age than young people who spent minimal or no period under legalization.

Cannabis usage rates among teenagers were steady through 2022, based on the latest publicly financed Monitoring the Future poll, despite additional regions decriminalizing the substance and the ending of pandemic prohibitions that held many children back home under their guardians and parents.

Another study, published in the “American Journal of Preventive Medicine,” found no link between rising youth cannabis use and state-level decriminalization. Marijuana use disorder could be associated in some cannabis users with issues such as the use of other drugs, cognitive function, mental problems, motivation, interpersonal interactions and job performance.

Based on the findings of researchers who evaluated a broad spectrum of outcomes, such as other substance consumption, drug dependency, disordered nature, exacerbating as well as legal difficulties, relational agreement, job involvement, civic participation and cognition, the research, which was financed by the National Institutes of Health (NIH), concluded that pursuing proven potential risks rather than concentrating on availability could be the most effective strategy to carry out prevention and intervention efforts.

As more of these studies document the wide-ranging benefits of marijuana and its constituent compounds, industry players such as Flora Growth Corp. (NASDAQ: FLGC) will gradually be perceived a lot more fondly than prohibitionists currently give them credit for.

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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Since the government delisted specific marijuana plant parts as narcotics last year, cannabis cafés and dispensaries have become more prevalent in Thailand. However, ongoing debates and conflicting legislative changes over what activities should be legal have led to the emergence of what has come to be known as a “marijuana Wild West,” which could put tourists on the wrong side of the law. Independent marijuana activist Kitty Chopaka claims that following legalization, nobody is entirely certain if they have the right information.

However, Mandel Menachem, of the weed information hub High, asserts that tourists have nothing to be afraid of as long as they follow basic guidelines and rules provided by Thailand’s ministry of public health.

So, what is permissible and what’s not? Let’s take a look.

Who is permitted to use it?

Anyone over the age of 20 is allowed to consume cannabis as long as they are not pregnant or nursing.

Where is its use permitted?

Cannabis can be smoked indoors, while marijuana-infused food can only be eaten from a restaurant with a permit. Smoking marijuana in public places such as temples, schools and malls is punishable by a $750 fine and a three-month jail term.

Chopaka advises being mindful to avoid invading other people’s space.

Where can you buy marijuana?

There are more than 2,600 dispensaries permitted to sell pre-rolled joints, marijuana flower, infused foods, CBD oil and edibles with less than 0.2% tetrahydrocannabinol (THC). These dispensaries can be found in major cities such as Chiang Mai, Bangkok and Pattaya.

Can you cultivate it?

Individuals should apply for cannabis cultivation permits with the Food and Drug Administration. A license is also required to use marijuana buds for export, research or commercial use.

Is there a limit for consumption?

While there are no restrictions on personal consumption, the ministry advises against driving after using marijuana in any form.

What still violates the law?

Visitors are not permitted to bring into Thailand or take out of the country any parts of the plant. Furthermore, visitors must obtain permission to possess products with a THC content greater than 0.2%.

Although Thailand’s cannabis laws have come a long way, there are still new policies to be announced and details to be clarified. Those considering entering Thailand’s cannabis business scene are advised to keep up with new developments and seek legal counsel for expert guidance through the regulatory complexities.

As more international jurisdictions launch marijuana markets, internationally focused companies such as Flora Growth Corp. (NASDAQ: FLGC) are likely to have a wide pool of foreign markets to expand into in the years to come as countries allow cannabis imports.

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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It is natural to be nervous about the new year due to widespread concern about the state of the world and its economy. But despite the uncertainty surrounding these hazy prospects, there is a silver lining for cannabis enthusiasts.

While federal legalization of marijuana did not happen in 2022 as some had hoped, there are reasons for optimism. Cannabis users have a lot to be happy about right now, including the fact that marijuana is now legal for adult use in some red states, significant ballot initiatives are being considered, and support is growing for legalization.

Here are five things to be excited about as 2023 gets underway.

The Sale of Recreational Marijuana Is Now Legal in New York

Cannabis lovers in the Northeast have a reason to celebrate following the state’s legalization of marijuana last year. New York now allows the sale of recreational marijuana from dispensaries.

In fact, New York is expected to be the second-largest state with cannabis sales, according to Matt Hawkins, founder and managing director of Entourage Effect. The proceeds from the sales will support the expansion of the entire industry for many years.

Cannabis Ballot Initiative in Florida

A ballot initiative is attempting to change Florida from a medical cannabis state to a recreational cannabis one. According to Ballotpedia, the ballot initiative needs to gather at least 891,589 signatures by the beginning of February 2024, which will require support from the majority of Floridians.

The amendment, which is expected to take effect in 2024, will allow adults 21 and older to purchase, possess or use cannabis products and accessories for nonmedical personal consumption, either through ingestion, smoking or other means.

However, significant effort will need to be put in this year for the bill to be in effect come 2024. Thus, expect plenty of new developments this year as advocates work to turn conservative-leaning Florida into a state with liberal cannabis laws.

Missouri Legalizes Adult-Use Cannabis

Missouri will be the newest Republican state to legalize adult-use cannabis sales, with dispensaries expected to open beginning Feb. 6, 2023. The legalization of marijuana for adult use in Missouri is currently in the early stages, but by the end of 2023, the state is likely to have a fully operational market.

According to the Missouri Department of Health and Senior Services website, when approved, comprehensive facilities will be able to sell marijuana to people who have patient ID cards as well as primary caregiver ID cards and adults over the age of 21.

Cannabis Is Gaining Popularity

According to ongoing polling, Americans are becoming more open to the idea of legalizing marijuana. In fact, according to some recent statistics, almost 90% of Americans think marijuana should be legal.

According to a Pew Research poll, nearly 90% of Americans believe marijuana should be legalized in some form. The vast majority prefers it to be available for recreational purposes, with only 30% preferring it to be available for medical purposes only. According to the same Pew Research report, only one in 10 people polled thought cannabis should be illegal.

These figures show that Americans have come a long way in terms of mainstream attitudes toward cannabis. Cannabis use is becoming more normalized in many aspects of society as more states relax restrictions each year.

Marijuana Sales Appear to Be ‘Recession Proof’

There have been rumblings of a recession, and many people are preparing for a possible downturn in the economy in 2023. However, not every industry will likely experience a recession’s effects equally. Although marijuana is resilient and its sales grew despite the COVID-19 pandemic, it may not be completely immune to economic downturns but is still not heavily affected as other industries often are.

Rainbow Realty Group president Kylie Shenfeld believes that sales in the cannabis industry will continue to rise this year, following a steady increase during the holiday season. Therefore, despite the possibility of future economic hardship, marijuana sales are likely to remain strong for the foreseeable future.

All these reasons suggest that licensed companies such as Flora Growth Corp. (NASDAQ: FLGC) can look forward to a generally good year if they do their homework and capitalize on any opportunities that present themselves.

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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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