CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Subsidiary Announces Acquisition of Emerging Hemp Flower Market Brand

Flora Growth (NASDAQ: FLGC), an all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, announced that its wholly owned subsidiary, Just Brands LLC, has acquired substantially all of the assets related to the No Cap Hemp Co. brand. The company anticipates that the acquisition of this emerging brand in the hemp flower market will diversify its brand portfolio and product offerings as well as create an opportunity to expand Flora’s distribution foothold in the United States by providing a unique collection of products with strong revenue growth potential. According to the announcement, the acquisition will offer Flora an immediate revenue stream as well as enhanced manufacturing capabilities. The asset acquisition calls for Flora to pay 10% of the gross revenue received from the sale of No Cap products up to a maximum of $2 million. “This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business,” said Flora Growth CEO and chair Luis Merchan in the press release. “This strategic acquisition demonstrates our disciplined capital allocation approach that is consistent with both short-term needs and long-term vision as a leading global cannabis company. We look forward to increasing our product offering through this transaction while broadening our sales team in the process.”

To view the full press release, visit https://cnw.fm/mdwv2

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 extensive 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.

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

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

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

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

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Improvements in Marijuana Genetics Boosting Profits, Protecting the Environment

Despite the medical and economic benefits that come with cannabis reform, marijuana cultivation can be extremely hard on the environment. Cultivating the substance requires a ton of energy for heating and cooling, consumes gallons upon gallons of water, and is often associated with an increased number of airborne pollutants. Furthermore, the pesticides used to keep pests and diseases away from cannabis grows can leach into the ground and contaminate the soil.

With the cannabis industry poised to be worth $197.74 billion by 2028, regulators and stakeholders are looking for ways to reduce the environmental impact of cannabis cultivation. Improving marijuana genetics has emerged as a means of not only protecting the environment but also increasing profits within the nascent cannabis industry.

Thanks to advances in technology and science, it is now possible for cultivars to tweak cannabis genetics and make them more resistant to fungus and common pests, ultimately reducing cultivation inputs and increasing yields.

Although the illicit market has made significant advancements in increasing cannabis potency, little has been done to make cannabis more resistant to pests and fungi. As a result, growers have to practice extreme vigilance and invest in expensive pesticides, which could contaminate the end product and damage the environment.

Fortunately, the industry is becoming home to cleaner cannabis products, both in terms of product quality and environmental impact, due to new research and scientific breakthroughs that are aimed at eliminating the use of dangerous chemicals in the management of pests and diseases.

Improvements in cannabis genetics will make marijuana plants more resistant to pests and diseases. This will in turn reduce the number of pesticides and fungicides growers use on their plants and limit pesticide and fungicide contamination that impact consumers and the environment.

These advancements will also make plants hardier, meaning growers will be less likely to lose their entire crop due to pest and disease infestation or pesticide contamination. Companies will also spend less on staff to constantly monitor the plants, a cost that can be prohibitively expensive depending on the size of the operation.

Cumulatively, the result will be pest- and disease-resistant cannabis plants that are more likely to produce higher yields, thereby also producing higher profits while also reducing employee costs, which increases profit margins even further. Additionally, these advancements in marijuana genetics will reduce the impact of cannabis cultivation on the environment by reducing fertilizer and pesticide use.

Researchers will also be able to develop cannabis genetics that can function in different climates, a feat that will allow growers to stay profitable as the climate becomes increasingly unpredictable.

This stability is critical if established industry companies such as Flora Growth Corp. (NASDAQ: FLGC) are to keep their products competitively priced and attract even more consumers at a time when costs of production are spiraling around the world.

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)

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 — Swiss Government to Launch Trial Cannabis Sales Program

Switzerland is set to become the first nation in Europe to launch a marijuana sales pilot program. The program, called Weed Care, will help study the effects of the legalization of marijuana. It will be launched officially on Sept. 15, 2022, and will run until March 2025.

Weed Care involves 370 participants based in Basel, the third most populous city in the country. All participants involved in the program reside in the city, are aged 18 and above, and are already consumers of cannabis. Throughout the study period, every participant will undergo regular assessments of their mental and physical health as well as their marijuana consumption behavior.

The country’s Federal Office of Public Health stated that the pilot program was aimed at increasing knowledge of the disadvantages and advantages of controlled access to marijuana and would offer a scientific basis to legalize adult-use marijuana in Switzerland.

The Federal Office of Public Health authorized the marijuana sales pilot program on April 19, 2022. The program will be conducted jointly by the University of Basel, the Department of Health of the Basel-Stadt Canton and the University Psychiatric Clinics. Basel health department’s medical director, Lukas Engelberger, stated that the pilot project was the first in the country, highlighting that prohibition hadn’t caused a drop in consumption, which warranted the need to test new regulatory models.

In an interview, Regine Steinauer, the addiction department head at Basel University, stated that the researchers were focused on finding out whether consumption changed, but they would also look into any physical and mental health changes observed when marijuana was consumed.

After showing their IDs, the study’s participants will be able to purchase two types of hashish-based products and four types of marijuana products from the pharmacies taking part in the study. The pharmacies will sell marijuana-based products based on the price determined by the illicit market, which is between $8 and $12. Products that contain different levels of THC will be produced by Pure Production, which is based in Switzerland.

Levels of THC in hashish products vary between 13%—20% while dried flowers contain a THC level between 5%—7%.

It should be noted that the country’s law prohibits the possession of more than 10 grams of marijuana, which limits study participants to purchasing no more than 10 grams of cannabis products in pharmacies. The law also doesn’t allow the public consumption of cannabis, so participants will have to consume the products in private locations.

When the pilot project registers success and the government fully opens a regulated market for cannabis, entities that have an interest in playing at an international level, such as Flora Growth Corp. (NASDAQ: FLGC), could find themselves with a window to further penetrate the European market.

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)

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 — Experts Say Federal Court Ruling in Maine Could Pave Way for Interstate Cannabis Commerce

Last week, a federal appellate court ruled that the law prohibiting nonresidents in Maine from owning medical cannabis businesses in the state violated the United States’ constitution. Stakeholders in the industry have been monitoring the case keenly, with many arguing that the dormant commerce clause of the constitution applies to the cannabis industry, despite ongoing federal marijuana prohibition.

Legal experts believe that this ruling may have extensive implications for interstate marijuana commerce, with some noting that it could create potential complications for social equity programs. In the 2 to 1 ruling, the U.S. Court of Appeals for the First Circuit stated that while marijuana was illegal federally, Congress had acknowledged the existence of a medical cannabis market via the Rohrabacher–Farr amendment, which barred the Department of Justice from interfering with state-legal medical marijuana markets using its funds. The ruling added that in approving this legislation in 2014 and renewing it yearly since then, Congress had also acknowledged that the cannabis market could continue existing in some circumstances without federal criminal enforcement.

The state of Maine had in the past eliminated the residency requirement for its adult-use cannabis market. If the appellate court ruling is not appealed, interested parties will now have the chance to operate and own medical cannabis dispensaries in the state.

It should be noted that this ruling is limited in scope because it only directly affects states within its jurisdiction, which include Maine, Rhode Island, Puerto Rico, New Hampshire and Massachusetts. Despite this, the ruling has still caught the attention of many in the country, as more states move to enact legislations to lay the groundwork for interstate cannabis commerce.

For instance, Senate President Nicholas Scutari of New Jersey recently filed a measure that would permit the governor to enter into agreements with other legal states to export and import marijuana. This measure is similar to another interstate commerce initiative that was filed and signed into law in 2019 by Governor Kate Brown of Oregon.

It is important to note that these agreements can only be drawn up if the state attorney general (AG) verifies that the measure’s implementation won’t bring about considerable legal risk to the state, and the law can only take effect if the Department of Justice issues guidance authorizing such activity or if the federal law changes.

Meanwhile, a measure introduced by Sen. Anna Caballero of California, which would permit the governor to enter into interstate cannabis commerce agreements, was cleared for floor consideration by an assembly committee recently.

When cannabis interstate commerce finally becomes legal, multistate operators such as Flora Growth Corp. (NASDAQ: FLGC) will find an easier time optimizing their operations across the different markets in which they wish to have a presence.

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)

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 — YouGov Survey Finds 20% of Americans Have Changed Stance on Drug Policy

A new survey by YouGov has revealed that public opinion on drug policy seems to be in line with the changing legal landscape. With dozens of states now allowing recreational and medical cannabis use, a majority of Americans have access to some kind of cannabis product. The YouGov poll found that two in five Americans have changed their views on drug policy, shifting their attitudes in a more liberal direction amid sweeping cannabis reform.

The poll questioned respondents on a variety of topics, asking whether they had changed their minds on some issues, how their political views had changed, and what influenced them to consider the issue from a different angle. Overall, the respondents were polled on 11 hot-button subjects, with drug policy emerging as the second most common issue that people said they had changed their stances on.

Some 41% of respondents said that their views on drug policy had evolved, following 42% who said that their views on foreign policy had changed. An estimated 32% had changed their opinions on healthcare, 31% changed their opinions on immigration, and 28% shifted their views on gun control. The poll also asked respondents whether they had changed their views about the death penalty, same-sex marriage, racial discrimination, abortion, free speech and climate change.

Of those who shared their views on drug policy, 48% reported that they had become “more liberal,” 26% said they were “more conservative,” and 26% reported that their views had “changed in some way.” However, the YouGov survey did not cover specific drug policy issues such as cannabis legalization, expanding access to psychedelics for medical use and safe consumption sites for federally controlled drugs.

When asked what made them change their minds on drug policy, 50% said it was due to “new facts and information.” Some 47% said their opinions shifted as they matured and gained more insights about the world while 39% said world events caused them to reconsider their opinions on drug policies. An estimated 32% of the respondents changed their minds on drug policy due to conversations they had with other people, 33% due to personal experience with the issue, and 14% due to changes in their religious or moral views.

Even though the poll didn’t specifically discuss marijuana, previous surveys have found that people’s opinions on cannabis reform have shifted over the years. A 2021 poll from Gallup revealed that 68% of Americans supported recreational cannabis legalization compared to 56% in 1969. Another pair of Gallup surveys found that more Americans believe that cannabis has a positive impact on consumers and society at large compared to alcohol.

That viewpoint may cause growing numbers of consumers to switch to consuming marijuana rather than alcohol, a change that could mean entities such as Flora Growth Corp. (NASDAQ: FLGC) may have lots of opportunities to expand into 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)

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 CWN — Four Recent Medical Marijuana Studies Worth Knowing About

A significant amount of research has been conducted in the medical marijuana field these last few years, revealing much about how the drug can be used in the management of various conditions. Below is an outline of some new studies on the use of cannabis and cannabis compounds, such as CBD, in the treatment of various conditions, including multiple sclerosis, coronavirus and fibromyalgia.

Use of CBD as potential coronavirus treatment

Figures from the World Health Organization (WHO) show that the coronavirus has caused more than 6.4 million deaths and over the last two years.

A recently conducted literature review assessed studies that tested the use of CBD to manage inflammation caused by the coronavirus. Preclinical medical marijuana studies showed promise for the compound’s impact on inflammatory outcomes of the cornea, gastrointestinal tract and lungs.

However, the authors stated in their conclusion that there wasn’t enough evidence to refute or support CBD as a repurpose medication for the treatment of inflammation and other coronavirus symptoms. They added that more clinical trials were needed to test CBD’s effectiveness.

Use of medical marijuana in managing fibromyalgia pain

Researchers from McGill University, Rutgers, Canopy Growth Corp. and the University of Montreal have assessed the potential mechanisms underlying a decrease in pain among patients with fibromyalgia who use medical marijuana.

The scientists stated that their analyses demonstrated that a decrease in levels of pain in patients could partly be explained by synchronous reductions in negative affect and sleep problems.

In their conclusion, the researchers stated that their findings showed decreases in pain, but this couldn’t be generalized to all patients with fibromyalgia who were using medical marijuana.

Impact of CBD on nerve cells in the brain

Researchers from the University of Milan collaborated with Curaleaf and Imperial College London’s Mikael Sodergren to assess CBD’s potential in treating neurodegenerative and psychiatric disorders.

The researchers focused on the brain-derived neurotrophic factor (BDNF) gene, finding that CBD could regulate the expression of this gene. Low levels of this gene, which promotes nerve cell maturation and growth, have been linked to epilepsy, Alzheimer’s, depression and schizophrenia.

Promising findings for CBD in treating multiple sclerosis

Multiple sclerosis is a chronic neurodegenerative and inflammatory illness of the central nervous system. Common symptoms of this disease include cognitive, motor, sensory and affective disturbances. New data shows that more and more patients with this illness are beginning to use cannabis-based medicinal products to manage their symptoms.

The researchers who conducted the study argue that there are promising indications for the use of cannabis-based medicinal products in the symptomatic treatment of multiple sclerosis.

It is worth noting that many people buy and use products from licensed companies such as Flora Growth Corp. (NASDAQ: FLGC) to obtain relief from a variety of disease symptoms, so it would be beneficial if researchers also studied and provided definitive guidance on the other conditions for which people say they use cannabis.

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)

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 — Another Push Is Underway in Florida to Legalize Recreational Cannabis

Floridians could be able to purchase and use recreational cannabis legally in the next few years if a proposed constitutional amendment that was filed last week is successful. Backed by country-music duo the Bellamy Brothers and Trulieve, currently the largest medical-cannabis operator in Florida, the measure would legalize the use of recreational marijuana by people aged 21 and older.

The Tallahassee-based medical marijuana operator contributed $5 million to help get the constitutional amendment to the 2024 ballot. The measure is also expected to receive support from other multistate medical cannabis companies. The proposed amendment was filed on Monday at the Florida Division of Elections and would allow the possession, purchase, and use of cannabis and cannabis products for nonmedical use.

Voters in Florida legalized medical marijuana via a constitutional amendment in 2016 after a failed attempt in 2014. The 2014 constitutional amendment failed to advance because it required at least 60% rather than a simple majority to receive approval. Soon after the 2016 amendment passed, Florida lawmakers launched a vertically integrated system that allowed companies to handle one or more stages of production.

However, this vertically integrated system has been criticized for significantly increasing operational costs and locking out small entrepreneurs who don’t have access to large capital. If the new constitutional amendment, dubbed the “Adult Person Use of Marijuana” is passed by voters, lawmakers will have to figure out how to structure the industry. Activists behind the measure will have to collect around 900,000 petition signatures to qualify for the 2024 ballot.

Backers believe the measure will meet the Florida Supreme Court requirements even though past adult-use cannabis initiatives have failed to advance. Kim Rivers, the CEO of Trulieve, says the proposed amendment is all about increasing access to cannabis in the state. She says that Trulieve, which currently runs around 119 medical cannabis dispensaries, is looking to increase access to safe, high-quality cannabis products that can give people more control over their medical journeys.

News Service reports that the amendment would allow the cultivation, processing, manufacturing, selling and distribution of cannabis products at medical cannabis treatment centers. According to musical duo the Bellamy Brothers, Florida is now ready for recreational marijuana. In an email to News Service of Florida, members of the group said that they have seen the benefits of marijuana as they traveled the country. The Florida natives have a ranch in Pasco County, and they have already partnered with Trulieve to produce a line of marijuana products.

As more states seek to legalize recreational marijuana, companies such as Flora Growth Corp. (NASDAQ: FLGC) will have a larger pool of potential markets to choose from when expanding their footprint across the country and beyond.

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)

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.

CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Releases Financial Results for H1 2022

Flora Growth (NASDAQ: FLGC), a manufacturer and distributor of global cannabis products and brands, is reporting its financial and corporate results for the six months ending June 30, 2022. Highlights of the report include revenue for the company increasing 604% from the same period last year, reaching ~$15 million while gross profit for the company increased to ~$7 million, an increase of 547%. In the report, the company reaffirmed its 2022 revenue guidance of $35 million to $45 million, which represents an increase in projected revenue of between 300% to 400%. “In the first half of 2022, Flora delivered on its promise to double revenue compared to the second half of 2021, and we expect to maintain that trajectory to deliver our full year guidance as a result of continued growth in our House of Brands, the launch of several new brands in the United States, and the commencement of sales in our Commercial Wholesale and Life Sciences business,” said Flora Growth CEO and chair Luis Merchan in the press release. “We started 2022 with the integration of both Vessel and JustCBD, and despite macro headwinds in the global markets as well as global cannabis regulations, we are extremely pleased with our growth year-to-date. We are also seeing positive movement in our Life Sciences division with progress on the approval of our clinical trials in the United Kingdom and the acquisition of Masaya, a science-backed, high-potency CBD brand. . . . We continue to prudently manage our overhead and working capital as we expect to improve profitability going forward. With all three of our core pillars generating revenue in the second half of 2022, continued gross margin expansion and a focus on streamlining operating expenses, we believe we have a path to profitability that few global cannabis companies can achieve in this difficult environment.”

To view the full press release, visit https://cnw.fm/Y6kh5

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 extensive outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to 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.

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

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

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

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

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Feds Seek Vendor to Test for Cannabis Compounds in Users’ Breath

As more states legalize medical and recreational cannabis use, law enforcement and opponents of cannabis reform argue that marijuana legalization will lead to increased rates of cannabis-impaired driving and traffic incidents. But while police officers can easily test for alcohol impairment using breathalyzer tests, there are currently no standardized tests to check for THC impairment via the breath.

Furthermore, research has uncovered that THC blood levels are not a reliable indicator of intoxication and impairment levels. Studies have found that the base THC blood level of long-term cannabis users can be higher than the legal limit set in several states. THC can also remain in the blood for hours after consumption and indicate impairment long after its effects have faded.

As such, authorities have been interested in developing technology that would allow police officers to accurately test for THC impairment onsite. The federal government plans on investing more than $1.4 million in studies designed to determine how the concentration of cannabis compounds changes in people’s breath over time after they consume cannabis.

The National Institute of Standards and Technology (NIST) recently posted a “sources sought,” stating that it is searching for a vendor that is able to help run a study that would collect blood and breath samples and then test those samples for evidence of acute cannabis use by checking for cannabinoids such as delta-9 THC and their metabolites.

NIST acting director of media relations Richard Press says that the nonregulatory agency is looking for a contractor that will recruit study participants, collect breath samples after the participants consume their own state-legal marijuana and then send the samples to NIST laboratories for analysis. He said that the purpose of the sources sought notice was to notify potential contractors of the study requirements.

Over the past decade, researchers have tried to develop machinery that would allow them to test for THC impairment the way breathalyzers test for alcohol. However, the industry hasn’t been able to develop an efficient standard testing method for cannabis impairment. With dozens of states now allowing cannabis consumption, the need for a standard device that can test for cannabis impairment has grown.

Titled Breath Measurements of Acute Cannabis Elimination (BACE), the upcoming study will research how the cannabinoid concentration in a person’s breath changes hours after they consume cannabis, Press says. The study’s objective will be to determine whether or not THC can remain in cannabis users’ breath even after they abstain for long periods.

The entire cannabis industry, including entities such as Flora Growth Corp. (NASDAQ: FLGC), would support a reliable way to detect impaired drivers, so the effort by NIST to study this matter is a welcome one.

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)

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 — Largest Employee Union Wants End to Testing Federal Employees for THC

For decades, federal employers have had the right to test their employees for cannabis used because of federal regulations that outlawed the cultivation, distribution and sale of marijuana. But as states have begun to legalize recreational and medical cannabis use, reform activists argued that these drug tests penalize consumers for indulging in behaviors that are considered legal in their home states.

The largest federal employee union in the country is now calling on the government to put an end to policies that punish federal workers for using cannabis during their free time. The American Federation of Government Employees (AFGE) also adopted a resolution in support of federal cannabis legalization during its 42nd national convention last month. AFGE currently represents more than 700,000 federal workers in America.

Although the union hasn’t released the final text of the measure, which is titled “Resolution to Support Deleting Responsible Off-Duty Marijuana Usage from Sustainability Criteria,” it posted the resolution on its website. According to a draft version of the measure that was obtained by Marijuana Moment, it also supports the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act.

If it becomes law, the MORE Act would remove cannabis from the list of controlled substances, eliminate penalties for federal cannabis offenses and expunge prior federal cannabis convictions from people’s records.  It has advanced past the House of Representatives twice so far.

The resolution noted that cannabis use has been increasingly accepted by the American public, especially regarding cannabis use for medical purposes by veterans and civilians. This is clear by the number of states that have chosen to legalize cannabis for medical use in recent years. However, cannabis remains a controlled substance at the federal level, and the resolution says this attaches unreasonable security to cannabis usage.

As such, members of AFGE voted in favor of the measure to partner with other unions and support federal cannabis legalization as well as compel the U.S. Office of Personnel Management (OPM) to get rid of federal policies that require testing cannabis in employees who work in nonnational and nonsafety sensitive positions. AFGE requested that the OPM remove responsible off-duty cannabis use from its sustainability criteria 5 CFR § 731.202 at the state level in Washington, D.C., and other jurisdictions with medical marijuana programs.

The draft measure also urged the OPM to remove marijuana-related questions from the SF86, e-QIP, SF85 and SF8SP. These are some of the forms that people applying for certain federal government positions have to fill out. The measure came shortly after the leaders of the House Appropriations Committee urged the White House to review guidelines and policies on the firing and hiring of individuals who use cannabis privately in states with legal markets.

If these reforms are implemented, more people will feel free to try out the cannabis products made by state-legal companies such as Flora Growth Corp. (NASDAQ: FLGC) since the fear of being victimized or even losing their federal jobs would have been removed.

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)

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.