Disruptive CBD Delivery Technology Could Revolutionize World of Cannabis Consumer Products, Edibles

CannabisNewsWire Editorial Coverage: Fueled by an explosion of CBD-infused edibles, billion-dollar projections for the CBD market may even be conservative.

This seems possible when one considers the truly innovative work being done in the sector by the likes of Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) (LXRP Profile), which has developed a patented delivery technology with disruptive potential, delivering 475% more CBD to the bloodstream after 15 minutes than conventional formulations. Other sector innovators are making a similar impact, including the likes of noted cannabinoid biopharma GW Pharmaceuticals Plc (NASDAQ: GWPH) (OTC: GWPRF) and that of researchers and product developers Tilray Inc. (NASDAQ: TLRY), MariMed Inc. (OTCQB: MRMD) and Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB).

CBD is going mainstream into all kinds of consumer goods and foodstuffs.
Hard data on numerous health benefits appears to be core driver behind growing CBD acceptance.
$1 billion-plus cannabis edibles segment growing rapidly but separate from CBD market.
Innovative delivery tech could revolutionize the industry and consumer receptivity.

To view an infographic of this editorial, click here.

Mainstream CBD Teeing Up an Edibles Boom

The recent May 9 report from leading cannabis industry analysts BDS Analytics and Arcview Market Research forecasts that the market for nonpsychoactive cannabinoid CBD (cannabidiol) alone will hit upwards of $20 billion by 2024, running at a CAGR around 49%. With last year’s farm bill legalizing industrial hemp in the United States, CBD sales in dispensaries have been rapidly increasing. Additionally fueled by an explosion of CBD-infused edibles, it appears that conservative sector growth estimates from analysts such as New York-based investment bank Cowen & Co. may be shortsighted.

A mounting, positive consumer sentiment about the health benefits of cannabinoids is broadly underscored by the work of developers such as GW Pharmaceuticals, whose CBD-based Epidiolex is already FDA-approved to treat two types of severe childhood epilepsy. CBD is going mainstream, with high-profile celebrities such as iconic homemaker Martha Stewart publicly coming out in support of the numerous health benefits that CBD is said to have, like lowering stress and anxiety or battling inflammation and pain. It is little wonder that consumers are seeing CBD used as a nutraceutical additive in everything from over-the-counter cosmetics and pet health products, to wildly popular edibles infused with CBD oil.

The cannabis edibles segment is also interesting to many analysts, and recent forecasts such as the Arcview Group’s $4.1 billion by 2022 figure brings into stark relief the immense potential of a market that already ballooned to more than $1 billion last year. BDS Analytics predicts that the same rapid CBD product sales growth seen at dispensaries will continue to occur as the majority of sales shift to general retail stores. An increasingly receptive consumer base is seen driving this trend, as roughly 66% of hemp-derived CBD consumers in the United States now believe in full federal legalization of cannabis in general.

The demand for CBD products now appears to be nothing short of historic, with CPG (consumer packaged goods) companies having never witnessed such an insatiable appetite for a new product type before. CBD, THC and others of the 100 or more cannabinoids found in cannabis appear to show strong potential for gobbling up market share across massive, vulnerable consumables industries, ranging from soft drinks and snack foods to alcoholic beverages and pet aides.

Revolutionary Delivery Technology Could Supercharge Edibles Industry

Unfortunately, the vast majority of edible CBD is being delivered to the human body in an inefficient manner, with most of the CBD simply ending up in the toilet. Typical CBD-infused products utilize industry-standard delivery methods such as MCTs (medium-chain triglyceride) like coconut oil. Such MCTs are a somewhat crude but straightforward approach, offering a rich texture and “mouth feel” but promising only limited delivery of CBD. Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) DehydraTECH(TM) patented formulations have considerable disruptive potential amid the ongoing CBD boom, with recent multi-objective animal studies showing a clear advantage over industry standards, in terms of how efficiently edible forms of cannabinoids enter the bloodstream.

The company’s standard DehydraTECH formulation using LCFAs (long-chain fatty acids) went head-to-head with a concentration-matched MCT formulation in the recently announced animal studies, yielding a whopping 475% higher CBD blood concentration level — and at four times the speed (15 minutes). These days, it is not uncommon to see people throwing around terms such revolutionary or groundbreaking willy-nilly. So when a technology comes along that truly does represent a fundamental paradigm shift, it can easily get lost in the ceaseless 24-hour news cycle cacophony.

Those words may truly apply here. Lexaria’s patented LCFA formulation has demonstrated a stunning 334% higher average maximum CBD blood concentration level over a 60-minute interval than standard MCT oil formulation, with initial onset (measurable CBD in blood) occurring three times faster (as little as only two minutes), a key factor for edibles.

This animal-study data is compelling and establishes a solid foundation under LXRP’s value proposition to investors. That proposition become even more interesting considering that LXRP is the only company in the United States with such a powerful absorption and delivery technology backed up by proven claims in lab, animal and even human clinical studies. DehydraTECH appears to deliver more CBD, more quickly, than virtually any other brand or technology available in the country.

In a recent human clinical study conducted at a medical research university, DehydraTECH-enabled capsules branded as TurboCBD delivered 317% more CBD into the human bloodstream than did generic CBD lacking this impressive technology. Seemingly, the human testing in addition to animal reinforces the notion that the industry may be witnessing a revolutionary breakthrough.

No Brag, Just Facts

Consider what this technology could mean for the CBD edibles space. At 15 minutes, the DehydraTECH formulation achieved 475% higher concentrations and to levels not seen or achieved by MCT. This puts DehydraTECH on par with inhalation in terms of how fast acting it is, something which has been a brass ring to the edibles industry for many years.

Rapid uptake by the body’s various tissue systems as opposed to valuable raw ingredients being flushed down the toilet because of minimal absorption — that is a huge selling point to consumers. And DehydraTECH technology provides the additional benefit of enabling lower drug-dosage quantities, an important point to consider given that “Lexaria has every reason to believe that virtually identical results would have been achieved if THC was instead the cannabinoid under examination [in the aforementioned animal studies], consistent with subjective human clinical studies Lexaria’s partners have conducted with edible THC products.”

Another great feature of LXRP’s proprietary technology is that it eliminates bad tastes typically found in CBD oils, thus eliminating the need for large quantities of sugar or artificial sweeteners to mask the taste, making the ingredient even more attractive to health-conscious consumers.

CBD Companies Leading the Charge

Cannabis is going mainstream, with CBD appearing to lead the way.

GW Pharmaceuticals Plc (NASDAQ: GWPH) (OTC: GWPRF) has the enviable distinction of developing Epidiolex, one of the most widely known CBD indications ever devised. Made world famous by coverage of the drug’s use in combatting severe childhood epilepsy, the drug is the first prescription, FDA-approved, plant-derived cannabinoid medicine in the United States and has acted as a kind brand ambassador for CBD in general.

Tilray Inc. (NASDAQ: TLRY) has grown into quite an operation, with a presence in eight countries across four continents, and worldwide production capacity that is on track to hit 1.3 million square feet this year. A strategic partnership with Authentic Brands Group is expected to have co-branded CBD products hitting consumers throughout ABG’s vast North American distribution network in the second half of this year. And Tilray even managed to beat first-quarter sales expectations, having posted a 195% jump in year-over-year revenues to $23 million, on the strength of factors such as solid hemp-food sales growth from the recently acquired Manitoba Harvest.

MariMed Inc. (OTCQB: MRMD) recently announced the formation of a wholly owned subsidiary to be entirely focused on hemp-derived CBD products. MariMed Hemp Inc. will have its own dedicated executive team, proprietary brand and product lines, as well as distribution and marketing relationships. A bold move for this multistate operator of licensed cannabis facilities, which has an increasingly strong presence in branded cannabis and hemp product lines, as well as a retained initial core business providing advisory services.

Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) recently made a huge announcement with entry into a multiyear, multimillion-dollar agreement with mixed martial arts organization UFC to conduct hemp-derived CBD research on athlete recovery and wellness at UFC’s substantial Las Vegas institute site. This high-profile and well-capitalized initiative could pave the way for sweeping clinical studies to more thoroughly evaluate CBD across the gamut of current major target indications such as pain management, inflammation, injury/exercise recovery and mental well-being.

Lexaria’s DehydraTECH continues to offer hardline absorption data that makes it one of the most exciting names in CBD delivery technology today. As the CBD industry continues to build momentum approaching widespread, mainstream acceptance and inevitable incorporation into a multiplicity of everyday consumers products and foods, LXRP stands poised to profit mightily.

For more information on Lexaria Bioscience Corp., visit Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP)

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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

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

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

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

420 with CNW – Canopy Rivers Invests in New Zealand Agri-Tech Company

Canopy Rivers, one of the largest growers and suppliers of medical marijuana in the world, has invested $1.5 million in BioLumic, an agri-tech company based in New Zealand. The funds are intended to help the agri-tech company to develop UV treatments which can boost the performance and yield of marijuana plants.

Warren Bebb, the CEO of BioLumic, said that he was glad that companies from around the world were starting to pick interest in what his company is doing. Bebb attributes this interest to the results which they have already obtained for other flowering plants, such as tomatoes, soybeans, lettuce and strawberries.

The New Zealand parliament recently passed a law to give terminally ill patients a legal defense to possess and use cannabis (an illegal substance). This amendment has paved the way for companies with interests in medical cannabis to position themselves to get a share of the global medical cannabis industry which is predicted to grow to an $80 billion industry within the coming five years.

BioLumic is excited to take a shot at making a difference in the life of someone suffering from a terminal illness. The UV treatments developed by the company have already shown that performance and yield can increase by up to 40 percent. Test crops have been grown in various countries, such as Spain, Britain and Mexico.

Dr. Wargent, one of the co-founders at BioLumic, says that his company is unique because of the shorter time they need to treat plants. For example, they need just a week or two to treat seedlings and only a few minutes to treat seeds.

Once the scientists have treated the seeds or seedlings, no other treatment is required for the rest of the life of that plant.

Wargent, a photobiologist, explains that he started out by testing his revolutionary technology on just a few plants that he left within his bedroom. Last year, he and Bebb opened a state-of-the-art UV research and development facility at Massey University.

While the founders weren’t sure which exact direction their company would take, they were in agreement that it should become a unicorn (a start-up which grows to be worth at least $1 billion).

The investment by Canopy Rivers and other entities has helped BioLumic to get its journey to unicorn status underway. The funding from Canopy Rivers will also go towards expanding the Artificial Intelligence program of BioLumic in addition to upgrading security at their trial facilities around the world.

Marijuana Company of America Inc. (OTCQB: MCOA) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) congratulate BioLumic upon landing such a major client in the cannabis industry and hope that their partnership results in a method to take medical marijuana production to a new level of efficiency.

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

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 a 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

420 with CNW – China Reaps from Cannabis Industry Boom

Look around your home and nearly half (or even more) of the products you see may have been made in China. Now China has jumped into the fray and it is bringing loads of CBD to the market in cosmetics, ingestible oil and other products.

This boom is largely centered in just two of China’s 34 provinces. These provinces are cultivating the plants even if Chinese law is very strict on psychotropic drugs, with death sentences routinely handed out to drug traffickers.

Hanma Investment Group is one of the first companies that secured a license to grow cannabis in Southern China in 2017. The CBD extracted is marketed outside China in balms, oils and sprays.

Hanma Investment Group has a subsidiary that is cultivating industrial hemp on more than 1,600 acres in Yunnan Province.

For thousands of years, hemp and marijuana were widely grown across China for making ropes, fabrics, paper and for medicinal purposes until the People’s Republic of China was founded and clamped down on the plant in 1949.

Hemp was also outlawed in 1985 when China signed the UN Convention on Psychotropic Substances despite hemp having just trace amounts of THC.

It is only recently (2010) that China softened its stance and allowed Yunnan province to resume growing hemp for textiles, especially for making uniforms for the People’s Liberation Army.

The exploding interest in CBD around the world has made Yunna Province to add oil extraction to the growing list of products for which hemp is grown. This booming industry has breathed new life into the economy of Yunna since farmers can earn much more from growing hemp ($300 from an acre) when compared to growing other crops, such as rapeseed or flax.

Yunna Province now has four companies that have, in total, opened more than 36,000 acres of land for hemp cultivation.

The other province which is reaping from hemp is Heilongjiang Province. Other provinces are catching on and plans are underway to license companies to start growing hemp in more regions of China.

The announcements that different companies have started growing hemp have caused such a stir on the stock exchanges that regulators were forced to intervene and stop trading in the shares of those companies.

Chinese companies are also aggressively staking their claim on the U.S. hemp landscape. For example, Hanma Investment Group has acquired a CBD extraction plant in Las Vegas, Nevada, and it has also set its eyes on Canada as well.

The 2018 Farm Act removed hemp from the list of controlled substances and it is now an agricultural commodity like any other within the U.S. The onus is now on U.S. companies to take full advantage of this legal reform so that China doesn’t muscle out local players in the CBD industry. Marijuana Company of America Inc. (OTCQB: MCOA) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) hope that U.S. companies are up to the challenge so that foreign firms don’t dominate the local CBD market.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000

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 a 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

420 with CNW – Trump Administration Opposed to Medical Cannabis for Military Veterans

The Department of Veterans Affairs has voiced its opposition to three bills that are intended to protect the VA benefits of veterans who use medical cannabis in states where it is legal, allow VA doctors to prescribe medical cannabis in states where it is legal and also expand research into the medical potential of cannabis.

The VA officials were speaking during a congressional hearing on Tuesday (April 30). For example, Keita Franklin (suicide prevention national director in the VA department) was of the view that the bill compelling the VA department to conduct research on the medical benefits and risks of cannabis was “too ambitious and risky” because a large number of human subjects would be involved.

Franklin also cited the guidance provided by the Drug Enforcement Administration to the effect that VA medical personnel aren’t allowed to prescribe medical marijuana in states where medical marijuana is legal.

Furthermore, the VA officials explained that they are also opposed to the bill which seeks to protect the VA benefits of veterans who consume medical cannabis in states where it is legal because the department already has a policy to that effect.

However, the sponsor of the bill insisted that the policy referred to isn’t sufficient since another administration can decide to reverse it. The best option is to write those protections into law, the lawmakers argued.

Several military veterans’ advocacy groups were also represented and expressed strong support for all the bills. The groups included Disabled American Veterans, Veterans of Foreign Wars and Iraq and Afghanistan Veterans of America.

The strongest support among these advocacy groups was directed towards the bill seeking for more research into the therapeutic effects of marijuana.

The Veterans of Foreign Wars was however concerned that the VA wouldn’t be able to avail medical cannabis at its health facilities even if a policy shift occurred to permit doctors to prescribe medical marijuana. For this reason, the group wasn’t in support of the bill that intends to allow VA doctors to prescribe cannabis.

Some lawmakers were frustrated by the continuous stonewalling exhibited by the VA each time marijuana is up for discussion. The lawmakers suggested that it may be necessary to push for cannabis rescheduling since any bill that is passed will need the approval of the DEA, and the same response (rejection) will be given.

Marijuana Company of America Inc. (OTCQB: MCOA) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) can’t wait for the day when the debate on medical marijuana will focus on facts and the needs of the intended beneficiaries rather than on politics.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000

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 a 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

420 with CNW – American Cannabis Sales Expected to Double on 4/20

For the uninitiated, 4/20 in the marijuana industry can be equated to Fourth of July. The exact origin of that “holiday” isn’t known, but there is speculation that the day is named after the time of the day (4:20 p.m.) when a group of students would meet outside their high school in the 1970s to hunt for some legendary cannabis plants that had been abandoned. According to that myth, those students never found that marijuana crop, so they doggedly kept up their search.

On 4/20, sales of marijuana are expected to, at the very least, double at all retail facilities in the U.S. states where recreational cannabis is legal.

This projection is drawn from the data collected by Headset Inc. The statistics show that historically, 4/20 has been the busiest day for pot sellers. This is especially true when that date falls on a Friday.

According to Headset Inc., 4/20 last year saw a 111 percent jump in sales when the sales on that day were compared to the cannabis sales on four Fridays before that day and another four after the “holiday.” The data analyzed was taken from Washington State, Nevada, Colorado and California.

In comparison, beer sales registered a modest jump in the two weeks that included July 4. Only a 33 percent rise in sales was discovered when the number crunchers did the math. This shows that cannabis “holidays” draw a more enthusiastic weed buyer response when compared to the way beer consumers behave on July 4.

Another way to see it would be that the trajectory of cannabis sales is on a sharp rise while beer sales reached their peak long ago, so holidays cannot trigger major movements in the market.

As already indicated, last year’s 4/20 fell on a Friday, a day when cannabis consumers seem to visit retail outlets more. This year’s 4/20 will be on Saturday, so that brings even better news to recreational cannabis retailers since the “eve” of 4/20 will be a magnet to buyers and the “holiday” itself will also inspire cannabis consumers to spend on weed. Chances are therefore high that marijuana sales will be record-breaking during that long Easter weekend.

The cannabis crowd across the border in Canada will not enjoy the day as much as their American counterparts will. This is because any added demand for recreational cannabis in Canada will be dampened by the persistent supply shortages that have refused to go away since weed was legalized on October 17, 2018.

Queues will be longer on that day, especially in places like Toronto where retail facilities are limited. And unfortunately, not all who line up will leave a retail store with their first-choice cannabis product. Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Marijuana Company of America (OTCQB: MCOA) look forward to the day when there will be no more cannabis shortages in Canada so that the people there can access all the products that they want.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000

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 a 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

420 with CNW – Student-Organized Event Discusses Cannabis on Sidelines of Michigan Hash Bash

Every year, a Hash Bash festival is held in Ann Arbor as a day of having fun and entertainment. This year, law students at Michigan Law School worked with the organizers of the Hash Bash festival to host an event at the law school to discuss marijuana legalization politics.

This event was held yesterday (Sunday, April 7) while the Hash Bash took place on Saturday. The organizers of the event at Michigan Law School wanted to educate members of the public about issues related to marijuana. Several panelists made presentations on various issues.

Ari Goldstein, a law student who was one of the organizers, remarked that marijuana legalization brings entrepreneurial opportunities that haven’t been seen since the Great Depression, so every effort must be taken to prepare people to seize those opportunities.

Kevin Boehnke, who is a research fellow at Michigan University’s Department of Anesthesiology, revealed during his presentation that several patient studies point to the fact that more patients are opting for medical marijuana to manage pain instead of using prescription opioids.

The shift is due to the better symptom relief experienced by patients, and the concerns about the documented side effects of prescription opioids.

Another panelist, Gus Rosania (a professor of pharmacological sciences) handled the topic of natural vs. synthetic cannabis ingredients. Rosania dispelled the misconception that synthetic cannabis is different from natural cannabis.

He revealed that at the basic level, synthetic marijuana is chemically identical to natural marijuana, so it is hard to tell the two apart. He added that it was only because different ingredients could be isolated and made in a lab that it was possible to identify the different cannabinoids in marijuana.

Andrew Brisbo, the head of Michigan’s Bureau of Marijuana Regulation, was also in attendance to talk about the ramifications of the legalization of recreational cannabis in the state. He revealed that he had a huge task on his desk to put together a program for recreational cannabis implementation in just a year from the time the law was passed.

Brisbo intimated that one way that he was using to get everything done correctly is by engaging different stakeholders in order to tap their perspectives when putting together an implementation plan.

Many people in the audience expressed their frustration about how hard it was for them to get a medical cannabis prescription from their doctors. Brisbo expressed sympathy for their plight and revealed that it wasn’t easy to change attitudes about cannabis after such a long time of prohibition. He added that efforts were underway to give physicians more information about medical cannabis so that they can gradually warm up to prescribing it to their patients who qualify for such treatment.

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Marijuana Company of America, Inc. (OTCQB: MCOA) welcome such engagements between regulators, patients, professors and other stakeholders since such interactions can result in better cannabis industry policies.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000

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 a 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

420 with CNW – New York Cannabis Legalization Process Hits Major Snag

The process of legalizing recreational marijuana in New York has hit a major snag with the announcement that it isn’t included in the state budget for 2020. This means that it may now be harder to pass the legalization bill as a standalone bill.

Gov. Andrew Cuomo (D) has been pushing to have the bill included in the state budget for 2020, but it seems things haven’t gone his way.

The major issue in the way of legalization appears to be disagreements regarding how the program will be implemented. For example, the legislators are sharply divided about the way in which the taxes from recreational weed should be spent.

Another source of disagreement is the insistence by people of color that measures should be included in the law to avail economic opportunities in the industry to the racial groups, such as African Americans, which suffered the most during the war on drugs. Expunging criminal records isn’t enough, they say.

Even Cuomo admits that the task of passing the bill will be harder now that it isn’t included in the budget. However, the Governor is still optimistic that discussions on legalization will continue at a slower pace and a law may be in place this year.

Before this setback, many legislators had expressed reservations about the possibility of reaching a consensus in time to include marijuana legalization in the budget. Their fears just materialized, and cannabis legalization just got a little harder to attain.

The setback in New York State comes just days before neighboring New Jersey was expected to vote on a bill that would legalize recreational pot. However, that vote was called off on Monday (March 25), to the disappointment of marijuana advocates.

The New Jersey vote cancellation was a strategic decision by the Governor, the State Senate leader and the head of the Assembly. They opted to delay the vote so that they work to secure sufficient support for the bill, rather than insisting that the vote happens and the bill fails to get enough support.

You can now see how the situation in New York State is similar to what happened in New Jersey. Both processes have slowed or stalled because of insufficient support or disagreements among legislators despite the overwhelming public support for legalization.

Green Hygienics Holdings Inc. (OTCQB: GRYN) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) urge the legislators in New York State to listen to each other and reach a compromise for the good of the people in the state.

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 instant SMS alerts, text CANNABIS to 21000

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 a 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

420 with CNW – Workers’ Compensation Being Modified to Incorporate Medical Cannabis in Canada

You would expect that with more than 17 years of existence in Canada, medical cannabis should have already led to policy changes in various aspects of life in the country. However, if the claims of injured workers are anything to go by, workers’ compensation guidelines have been slow in changing to accommodate this form of treatment. Now matters are beginning to shift as the discussion below shows.

More Workers Winning in Tribunals

Mellissa Ellsworth is just one of 10 patients who have won hearings in Nova Scotia’s workers’ comp tribunal set up to assess whether the Workers’ Compensation Board should cover the cost of medical marijuana. It took her five years to get this approval.

Alberta’s board has so far also accepted to cover the medical marijuana costs of 10 workers who were injured on the job. New Brunswick shines in this regard because it has so far approved 71 patients’ applications for medical cannabis costs coverage under workers’ comp policies.

It is saddening that patients have to endure years of pain as their applications slowly make their way through the red tape of the Workers’ Compensation Boards in the different provinces and territories. For example, the neurological pain experienced by Melissa Ellsworth led her to take a total of 26 pills on a daily basis just to function as a normal human. She now takes only cannabis and enjoys a better quality of life.

The good news amidst all this is that for each patient who gets approval, more are encouraged to table their requests before the different boards. Eventually, medical cannabis will become a normal form of treatment and no patient will have to go through what the pioneers like Melissa Ellsworth had to endure to get approval.

Doctors’ Prescriptions Rarely Considered

You would think that the different Workers’ Compensation Boards would attach some weight to the recommendations provided by the primary healthcare providers of the patients who apply for coverage.

However, only Quebec recognizes and acts upon those recommendations. Other boards convene their own medical team sittings to assess the eligibility of a patient for medical cannabis. Why should this happen when Health Canada screens patients before giving them a medical cannabis card?

Caps on Daily Cannabis Consumption

Nearly all provinces and territories that are even willing to consider paying for medical cannabis for injured workers impose a three gram cap on how much medical cannabis a patient can claim coverage for each day.

While there may be valid reasons for this cap, it would be reasonable for these boards to acknowledge that different patients have different needs, so mechanisms should be available for those who need more to be covered without major hassles. Even Health Canada allows patients to grow hundreds of cannabis plants if they need a lot on a daily basis for their treatment. But, workers’ comp boards still insist on three grams a day!

But, There’s Progress…

Amidst this huge cloud hovering over injured workers in Canada, winds of change are slowly picking up. Last year, New Brunswick set the stage by passing medical cannabis guidelines. Prince Edward Island followed suit, and now Nova Scotia is drafting its own set of guidelines.

While all this is happening in Canada, one wonders what the situation is here in the U.S. With most marijuana businesses still struggling to access banking services, it is hard to picture what patients may be going through if they wish to have their medical cannabis costs covered by workers’ comp insurance. Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Marijuana Company of America (OTCQB: MCOA) decry the slow rate at which workers’ compensation is evolving to accommodate medical cannabis. This isn’t only denying patients a viable treatment option, but it is also limiting the investment opportunities that would boost the economy.

About CannabisNewsWire

To receive instant SMS alerts, text CANNABIS to 21000

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 a 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

420 with CNW – This is How Much Recreational Pot Canadians Bought in 2018

If you were asked to make a random guess about how much weed Canadians bought (and presumably consumed) since recreational marijuana was legalized in October last year, what would you say? Well, Statistics Canada released recreational cannabis sales data and the figures are surprising, to say the least.

The statistics show that in October last year, Canadians bought recreational cannabis worth $32.7 million while November sales amounted to $40.4 million. In December, Canadians bought recreational cannabis products worth $41.9 million.

These figures are considered to be highly reliable because the Canadian marijuana market is highly regulated. You should therefore not doubt that the first three months of legal recreational pot resulted in total sales of $115 million. That is shocking, given all the hype that accompanied the lead up to legalization.

However, a number of factors may explain why annual recreational cannabis sales are likely to be far less than was predicted.

First, the persistent supply shortages have made it hard for all Canadian who would like to use weed to buy the substance as often as they would like. Without weed on the shelves, where would the sales come from? Many licensed producers predict that it may take years for them to ramp up their production to a level that can meet the current demand.

Secondly, Health Canada has also played a part in dampening the performance of the recreational cannabis sector. The regulator has been very slow in processing the applications for the different entities that would like to become licensed producers/cultivators of cannabis in the country. There are claims that Health Canada takes several months or even years to make a decision on an application. This sluggish way of conducting their business has made it hard for enough producers to be active in the country, hence the supply shortages.

Another reason for the low recreational cannabis sales has to do with a shortage of packaging and processing facilities. There are reports that harvested cannabis takes unnecessarily long to reach the shelves of retail outlets because the few processers licensed in the country cannot handle the volume of weed available for processing and packaging.

Not surprisingly, the packaging and processing problem also goes back to Health Canada who have been slow in issuing processing or packaging licenses to interested players.

Finally, the provinces may also have a role to play in the dismal sales statistics. For example, Ontario has only been selling recreational cannabis through the state-run online outlets. While there are plans to open offline stores, the current sale in online stores alone has reduced the potential sales that would have been made in the densely populated cities within the province.

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Marijuana Company of America Inc. (OTCQB: MCOA) look forward to a speedy resolution of all the limiting factors above so that the Canadian cannabis industry can reach its full potential.

About CannabisNewsWire

To receive instant SMS alerts, text CANNABIS to 21000

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 a 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

420 with CNW – Four Ways Cannabis Entrepreneurs are Using AI in Sales and Ecommerce

As the marijuana industry has grown and become more widely accepted, many tech companies have introduced new products to enable the cannabis industry. Here are the four major AI products that marijuana businesses are deploying to boost sales and make ecommerce more successful.

Chatbots

The explosion of interest in cannabis means that the limited staff of marijuana companies can easily be overwhelmed if they decided to address each person’s queries without the help of AI.

Chatbots have been introduced to engage customers and potential customers quickly and efficiently by providing all the information one needs. For example, the chatbot can take a potential customer through the different cannabis strains that may help to ease the symptoms that the client is experiencing. These bots have revolutionized the way cannabis businesses attend to their customers at a time when people make a query and expect an answer to it “yesterday.”

Finding Leads

One of the hardest aspects of selling is to find prospects. Cannabis businesses are turning to AI tools, such as Node, to generate lists of potential customers. This is a more reliable method than the traditional way of buying lists of prospects who often turned out to be uninterested in what one was selling.

Filtering Prospects

It is one thing to get a list of prospects and it is another matter to filter them into warm or cold prospects. That is where AI comes in. Artificial intelligence systems are now available to analyze data in order to establish which particular products a potential customer has been searching for.

The findings of such AI systems can help sales personnel to concentrate their efforts on those individuals that are most likely to make a purchase instead of spending time and effort on people with a low possibility of making a purchase. An example of this type of AI system is Netra. This system understands consumer preferences by analyzing the visual content on different social media platforms.

Sales Forecasting

As you may know, there is always a multitude of demands competing for the resources that any company has at its disposal. The same applies to cannabis businesses. One of the best ways to determine how to allocate those scarce resources is by forecasting sales so that intelligent decisions can be made for the company.

AI systems have been deployed to forecast cannabis sales so that businesses can plan for the future more effectively, such as by making decisions on when to scale up or down.

While some people may think that AI has come to take cannabis jobs, the truth is that AI can only go so far. For example, AI fails dismally at comprehending the nuances of language based on different contexts and humans have to step in at such points. Cannabis businesses should therefore regard AI as an aid to their workforce rather than as a tool to cut back on human employees. Green Hygienics Holdings Inc. (OTCQB: GRYN) and Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) look forward to seeing even more AI products in every aspect of the cannabis industry.

About CannabisNewsWire

To receive instant SMS alerts, text CANNABIS to 21000

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 a 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