420 with CNW — New Poll Finds More Than 30% of Parents Can’t Tell CBD, Marijuana Apart

A recent poll has found that an estimated 80% of parents know almost nothing about CBD products. CBD (cannabidiol) is a chemical compound found in the hemp and cannabis plants. CBD usually contains only 0.3% of THC. THC (tetrahydrocannabinol) is the psychoactive component of the cannabis plant that induces a high when consumed.

The poll found that of the 7% of parents who had considered giving or had given their child a CBD product, only about 30% had discussed its use with their child’s pediatrician. Close to 2,000 parents in the country participated in the poll, with 35% of them revealing that they thought that cannabis and CBD were the same thing.

Most CBD products, apart from Epidiolex, aren’t regulated by the U.S. Food & Drug Administration (“FDA”), which means that they can be easily purchased off the shelf. Epidiolex is a prescription drug developed for the treatment of certain forms of epilepsy.

The poll also found that more than 80% of parents would like the FDA to regulate CBD products, with only 58% adding that its regulation by the federal agency would be a crucial factor in their decision-making process on whether to administer these products to their children. It also found that almost 75% of the parents believed that CBD products for children needed to be prescribed by a doctor.

While there’s anecdotal evidence showing that CBD may be used to reduce inflammatory diseases, pain and anxiety in children, not many studies on the compound’s effect on kids have been conducted. Dr. Jennifer Griffith, who wasn’t part of the study, noted that the potential side effects of administering the products to children included a reduction in appetite, nausea or vomiting, fatigue and diarrhea. Griffith, who is an assistant professor of pediatrics and neurology, added that CBD could interact with other prescription drugs, substantially reducing or increasing the level of medication in the body, resulting in a number of problems.

Sarah Clark, a co-director of the survey, stated that adults with CBD products should keep them out of reach of children and treat them as medication. She cited the example of products such as CBD gummy bears, which children could see as candy and end up consuming them. Clark added that parents needed to speak to their children’s medical provider before giving their child a CBD product. Doing so allow the provider to suggest alternatives, as well as discuss any potential drug interactions and side effects the child may experience. In addition, it would alert the medical provider to any issues the child could be facing.

The glaring gaps in parents’ knowledge about CBD and cannabis in general means that sector players such as Cannabis Strategic Ventures Inc. (OTC: NUGS) may need to provide more consumer education beyond what they offer at their distribution or retail outlets.

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

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420 with CNW — Which Branch of the US Federal Government Could Initiate Marijuana Policy Reform?

The U.S. cannabis industry is experiencing a boom right now with Americans spending almost $25 billion on adult use cannabis products in 2021. Despite the growth, the industry has been affected by outdated policies that classify the drug as a Schedule 1 substance. This has greatly affected business operations, and as a result, corporations are working with advocacy groups to lobby for reforms that could significantly transform the industry. Meanwhile, countries such as Canada and the United Kingdom have changed their legislation to promote legality and medical research of the drug.

As the midterm polls approach, industry experts are predicting that there will be a significant push for federal marijuana reforms. According to Steve Hawkins, the executive director of the U.S. Cannabis Council (“USCC”), Congress is looking forward to passing a banking reform law. The bill will transform the industry by providing businesses with access to financial services and other benefits.

Apart from Congressional action, the other way to improve the policies governing the industry is through court challenges and executive decisions. As each option aims for improvement, they will impact cannabis businesses differently.

Congressional action is considered the most preferred way for pushing reforms. Lawmakers are considering bills that offer social equity and offer incremental gains. For example, the SAFE Banking Act is a bill sponsored by Rep. Ed Perlmitter (D-CO) that will see cannabis businesses receive financial services from banking institutions without federal penalties.

Congress has the ability to consider the prospects and needs of the cannabis industry in steps. Hawkins states that the USCC is prioritizing comprehensive reforms passed through Congress. However, some stakeholders disagree. According to Albert Gutierrez, CEO of Colorado-based MedPharm, a lot of effort will be used to legalize cannabis through Congress.

Challenging the federal government’s prohibition through the court systems has not been successful due to a number of reasons. Nevertheless, this has not dimmed down the possibility of a victory.

Cannabis stakeholders believe that reform could happen through rescheduling it to a Schedule 2 drug or lower. For such a decision to be successful, it would require involvement from the U.S. Food and Drug Administration (“FDA”) and Drug Enforcement Administration (“DEA”). Both agencies are somewhat cannabis friendly, and the newest FDA commissioner is a supporter of medical research of marijuana.

Other factors that could influence rescheduling include the country’s rescheduling stance at the United Nations and the DEA awarding licenses that allow many more entities to grow cannabis for federally approved research.

Regardless of which branch of the feds take the lead in bringing about cannabis policy change, the entire industry and sector actors such as Cannabis Strategic Ventures Inc. (OTC: NUGS) would be glad to see an end to federal marijuana prohibition and its current barriers to the sector.

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420 with CNW — Local Authorities in California Start Granting Tax Relief to Cannabis Businesses

Local governments in the state of California are granting tax relief to marijuana businesses after state legislators failed to lower cannabis taxes. The tax rollbacks by counties and cities primarily reflect lobbying from local businesses and residents as well as industry organizations.

The local governments have argued that taxing the industry at all levels of the supply chain is strengthening the illegal cannabis market while also making it hard for marijuana companies to stay afloat and conduct their business. Various localities including the counties of Sonoma and Humboldt and the cities of San Diego and Desert Hot Springs are a few that have granted tax relief to businesses participating in this burgeoning industry.

This comes after California’s wholesale marijuana prices dropped in 2021 because of a supply glut. Prices started rebounding recently. The rollbacks also come in the midst of accusations from industry insiders, local legislators and operators that the state hasn’t done as much as it could to properly address tax reform. Currently, cannabis license holders in the state are subject to a cultivation tax of $161 per pound. They are also subject to a 15% excise tax as well as other taxes levied by county and city officials.

At the start of this year, California Gov. Gavin Newsom vowed to address tax reform. Since then, a number of measures that address marijuana taxation have been introduced, including SB 1293, SB 1281, AB 2506 and AB 2792. Of these bills, Senate Bill 1281 is the most comprehensive. It would do away with the state cultivation tax and decrease the excise tax to 5%.

However, even with the obvious need for relief, these legislative actions may not take effect until 2023, which is why localities are taking charge. Localities that are considering or have implemented marijuana tax relief and reductions include Humboldt County, which reduced the county’s cultivation tax by 85% last month. This temporary reduction in cultivation tax demonstrates its commitment to cultivators who have committed millions to Humboldt’s economy in the last few years.

In January, the Board of Supervisors in Sonoma County also voted to put off the payment of taxes imposed in the first quarter of this year until the end of April. The taxes levied will be due without interest or penalties.

The Board of Supervisors in Monterey County may soon vote to reduce cultivation tax in the jurisdiction while the city council of Cloverdale also plans to decrease tax rates for all licensees.

As efforts to reform the tax policies surrounding marijuana gather steam, licensed companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) could soon dent the illicit marijuana market that has partly been helped by legal products that are too costly, which pushes consumers to the black market.

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420 with CNW — USDA Asks White House to Authorize Large Hemp Survey

Last week the U.S. Department of Agriculture (“USDA”) put out a notice seeking approval from the White House to carry out a survey. The agency plans to partner with the University of Kentucky to conduct this follow-up to the first hemp survey released earlier this year on Feb. 17, 2022. According to the notice, the survey is designed to collect data that will be used to forecast hemp activity as well as provide more information on production practices and costs.

Stakeholders lack consistent knowledge and information to navigate risks within the sector. The main purpose of the survey is meant to create transparency. The hemp market is constantly facing high risks that are changing, which according to the USDA includes limited information on the demand for hemp products.

Currently, stakeholders rely on varying information on quality and costs from several private and local sources. The notice mentions that there has been a continued request for the USDA to provide stakeholders with “consistent unbiased data.

This new survey will focus on economic data collected in 2020 to create awareness on the growing industry as well as respond to different needs identified within the sector. The responses will specifically be used to find out production costs as well as the scope and significance for a market structure.

The department said that the gathered data will be used in rulemaking, resource management and risk management. Stakeholders will also be receiving information on market outlook and worldwide competitiveness. According to a USDA spokesperson, hemp producers will receive the survey through the National Association of State Departments of Agriculture (“NASDA”).

The survey is expected to collect data from 20,000 individuals and is planned to be conducted every year. As part of a current review, interested individuals are allowed to submit feedback on the proposed survey during a period of 30 days.

The agency relies on stakeholder feedback and has used it to make hemp businesses more flexible by aligning their insurance policies to those of other crops. For example, hemp growers could qualify for coverage programs including the Multi-Peril Crop Insurance as a result of the agency’s efforts.

In 2020, the department proposed a survey that would help in developing regulations within the sector. The USDA sought to partner with the University of Kentucky to collect data after marijuana was federally legalized. Last month, the department announced that it would be carrying out a webinar series to provide information on hemp with Cornell University as partner.

According to stakeholders, results from the latest survey have shown a decline in the industry and therefore reforms are still needed to aid in growing the industry.

The entire cannabis industry, including sector actors such as Cannabis Strategic Ventures Inc. (OTC: NUGS), would benefit greatly if marijuana was legalized federally and similar surveys were done by the USDA to promote the growth of the industry.

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420 with CNW — Pew Study Shows Increase in Drug-Related Arrests While Incarcerations Reduce

A new study from the Pew Charitable Fund reveals that police have continued arresting people for illegal substances despite states adopting policies designed to reduce the number of incarcerations. The report expounds on drug policy and enforcement trends that have been developed between 2009 and 2019.

In the past decade, state and federal policies have changed with more prosecutors dropping marijuana cases. The study highlights some of the positive outcomes, which include low incarceration rates, reduced cannabis-related arrests and reduced racial differences in overall drug enforcement. However, despite all these efforts, arrests of drug possession still number more than a million a year even though overall arrests have dropped by 29%.

The study found that the number of people held in state prisons because of drug offenses decreased by one-third. This accounted for 38% reduction in admissions and 61% decline in prison populations. Pew found that arrests over drugs sales dropped and the number of Black people admitted to prison dropped by 26% while the number of prisoners dropped by 48%.

As incarceration rates dropped, the mortality rate related to drugs and alcohol increased by five and three times respectively. According to the institute, the reason is because of the criminal system’s reliance on a strategy that is costly and inefficient in addressing drug misuse. Within the same period, incarcerations reduced by one-third while possession arrests remained the same. In 2019, drug arrests accounted for 1 in every 10 arrests with more than 1.5 million people apprehended.

The report leaves out policy changes that have led to a reduction in racial disparity over drug arrests. Black people have been disproportionately affected by marijuana criminalization. As a result, more states have addressed this disparity by changing their enforcement regulations around marijuana. The report, however, shows that the disparity is still present. Black people accounted for 12% of the U.S. adult population but twice the number of adult drug arrests in 2019.

According to the report, imprisonment levels over drugs changes across states because there is less emphasis on public health issues related to drug misuse. Pew states that the majority of those imprisoned have substance use disorders of which only 1 in 13 are receiving treatment. The report suggests that more reforms should be done to improve the criminal legal system by making it more equitable. This shift will mitigate the states’ reliance on arrests and imprisonment to address drug misuse.

In a separate poll released last year, Pew noted that there was a significant difference across the political spectrum surrounding the legalization of cannabis for recreational use. However, the general agreement revealed that patients should have access to marijuana for medical purposes.

It is unfortunate that even if companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) are allowed to operate in various jurisdictions, people are still being arrested and incarcerated over offenses related to a substance that is legal in many states across the country.

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420 with CNW — Wells Fargo Blames Shortage of Truck Drivers on Federal Cannabis Prohibition, Drug Testing

During a recent conference call, Wells Fargo Securities head of equity strategy Chris Harvey stated that federal cannabis criminalization plus the resulting mandates for drug testing have caused the worker shortages and increasing costs being observed in the transportation sector.

He addressed this issue during the call, highlighting the challenges linked to marijuana testing within the trucking sector. Harvey explained that trucker costs, transportation costs and logistics were all increasing, noting this trend would persist for a while as drug testing was implemented in different states.

Federal transportation regulations state that safety-sensitive roles require drug-testing policies. However, while opponents of marijuana legalization and advocates are in agreement that no person should be operating a vehicle when intoxicated, they also note that THC metabolites can easily be detected inside an individual’s system even weeks after they consumed cannabis. Harvey explained that this mandate excluded a considerable portion of the trucker industry, which would make the tight market much tighter.

This is backed up by data released by the New York Post last year, which showed that since January 2020, more than 72,000 heavy truck drivers lost their jobs or licenses because of failing THC tests. The correlation between cannabis policy and workforce shortages has also been highlighted by a congressman who recently suggested that federally legalizing cannabis would resolve the staffing issues at the U.S. Postal Service and prevent government employees from losing their employment.

Strict testing policies for drugs in various government agencies and the federal prohibition of cannabis have had a negative effect on jobs, hindering individuals who are qualified from submitting applications for specific job opportunities and increasing the risk of others losing their jobs if they use a cannabis product.

Many hope that this will soon change if cannabis is legalized, because several agencies updated their employment policies after hemp was federally legalized. This employment issue affects the government as well as private industry, and has prompted some major firms in America to reconsider their policies for drug testing as more states across the country legalize the use of cannabis for recreational and/or medical use.

Companies such as Amazon have begun changing their cannabis policies internally; Amazon recently enacted a policy change in employment that would eliminate the need for pre-employment cannabis drug testing for the greater fraction of its workers. The change in policy also states that the company will no longer focus on cannabis in its comprehensive drug screening program for positions that aren’t overseen by the transportation department.

As more companies revise their workplace drug-testing rules, more people will be less apprehensive about using the cannabis products made by licensed manufacturers such as Cannabis Strategic Ventures Inc. (OTC: NUGS) since there will be no risk of jeopardizing their employment.

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420 with CNW — WADA Announces Intention to Review Stance on Marijuana Ban

The World Anti-Doping Agency (“WADA”) will reassess its stance on whether marijuana should remain on the prohibited list. This comes after the incident where American runner Sha’Carri Richardson was forced to pull out of the Tokyo Olympic Games. During the U.S. Olympic Trials, Richardson’s 100 meters win was cut short after it was revealed that she had tested positive for cannabis. This led to her disqualification; she was also banned from competing for 30 days.

Whether cannabis has a positive effect on an athlete is being challenged by the German Institute for Biochemistry. According to the institute, cannabis does not improve an athlete’s performance; however, its use could lead to further risky behavior within certain sports.

WADA said that the executive committee supported the resolutions from the List Expert Advisory Group to conduct a scientific review on cannabis this year. This was after a number of stakeholders issued requests to review the status of cannabis on the list. However, the body clarified that cannabis is still prohibited in competitions held this year.

Dr Peter Brukner, a researcher as well as a sports physician, has spent the last year studying medical cannabis. He said that there is no evidence that marijuana enhances the performance of an athlete; in fact, he says, it is “performance limiting.” Brukner believes the reason why the substance is banned is because of the legality issues surrounding it. This year, the doctor will be conducting clinical trials at La Trobe University to see whether medical cannabis is effective for pain relief and can be incorporated into the treatment for athletes.

At this year’s Winter Olympics, Kamila Valieva, a figure skater representing Russia, tested positive for the heart drug trimetazidine and was still allowed to compete in the Beijing games. The 15-year-old won gold in the team competition, and Sha’Carri Richardson questioned the double standard as to Valieva was still allowed to compete despite having a doping charge.

During the ruling, the Court of Arbitration for Sport said that Valieva was not cleared, which means that there is a possibility that her awards could be stripped and that her submission to different rules is because she was judged as a minor and not an adult athlete.

Other leagues have recently been revising their policies on marijuana use. On Feb. 1, 2022, the NFL issued a $1 million research grant to look into marijuana’s effectiveness in pain management. Last year, the NBA stopped subjecting its players to THC tests and stated that it would only intervene in cases where there was a present history of abuse. In 2019, the MLB removed marijuana from its list of banned substances but will continue to prohibit its players from getting into contracts with cannabis businesses such as Cannabis Strategic Ventures Inc. (OTC: NUGS) regardless of their legality in the jurisdictions where they operate.

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420 with CNW — Cannabis Flower Still Rules US Market, But Dominance Is Waning

Flower is the largest category for cannabis products on the U.S. cannabis market. However, its influence is slowly waning as the shift in demand for adult-use products grows.

Recent sales figures from Headset, a research institute based in Oregon, reveal that the prices for flower are dropping in Colorado, California, Michigan, Oregon, Nevada and Washington state. Data shows that the price per gram of flower dropped in the six states by 14%. In January, the flower fetched around $6.78 per gram, dropping to $5.82 in December. The market share in those six states grew from about $5 billion in 2020 to almost $5.5 billion in 2021.

However, the overall market share for flowers fell. According to Cooper Ashley, the senior data analyst at Headset, the 11.5% rise in flower sales was lower than the 18% increase in overall marijuana sales. By contrast, pre-rolls experienced about a 39% increase with sales figures revealing that the market share grew from about $1 billion in 2020 to $1.4 billion in 2021. Within the same period, the share for edibles increased by 20.4% going from about $1.1 billion to $1.4 billion.

As more products arrive in the markets and growers develop their facilities, the overall prices for flower continue to decrease. The cannabis flower was the third product to experience the slowest growth after tinctures and sublinguals, which decreased by 7.5%, and topicals, which increased by 2.5%.

The buying habits of consumers have shifted in the more established markets. Marijuana retailers report that there is less attention for potency but more of the plant’s terpenes and the other minor cannabinoids. Moreover, the consumer purchases of the cannabis flower vary across the markets. According to Ethos Cannabis, a marijuana production company based in Philadelphia, the buying habits of consumers in the East Coast are influenced by the THC concentration. Ethos Cannabis VP Mike Bibbey said that potency is the primary reason that drives purchases. He said that the most popular flowers are the ones with 25% or higher THC concentrations.

As the market matures, consumers become more knowledgeable and are able to differentiate between products. According to Falcon Brands, a California-based cannabis company, mature markets attract more competition, which makes quality a decision driver. According to the company’s CEO, Steve Gutterman, high-quality flowers are not affected by the drop in prices because consumers will be willing to pay more for terpene and cannabinoid content. He predicts that high-quality flower will cost almost $2,000 a pound, which is slightly lower than in 2021.

The demand for flower with high potency is seen in Canada. According to cannabis company Cannara Biotech, flower with as high as 30% THC “fly off the shelves” with the prices falling from C$2 a gram to C$1.

Sector players such as Cannabis Strategic Ventures Inc. (OTC: NUGS) are aware of these changes in customer preferences, and the industry is seeing a burst of innovation aimed at addressing those evolving customer needs.

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420 with CNW — Justice Dept. Considering Measures for Safe Drug Consumption Sites

The Department of Justice (“DOJ”) is evaluating the authorization of harm reduction centers for people to use currently illicit drugs in a supervised environment and receive treatment resources. New York City became the first state to launch safe drug consumption sites in November 2021. Then Mayor Bill de Blasio (D-NY) said that the so-called Overdose Prevention Centers are an effective option in addressing the opioid crisis. According to the AP, the sites have prevented 125 overdoses.

Advocates are eager to hear the federal government’s response in a lawsuit over a proposal that could see the establishment of similar centers in Philadelphia. As the deadline approaches, the Department of Justice says it’s weighing the lawfulness of such centers and discussing appropriate measures for the programs. The federal department told the AP that it is involved with state and local regulators in discussions as part of a strategy to ensure harm reduction and promote public safety.

The pending Philadelphia case had been filed by Safehouse, a nonprofit organization whose mission to provide harm reduction resources was blocked by the DOJ during Trump’s presidency. The department had previously won that case after the courts decided that the facility’s operations would be violating a 10-year-old drug law.

However, with the current involvement of the department under Biden’s administration, lawyers representing Safehouse said that the statement from the federal government signals a

“positive resolution.” The deadline within for the Justice Department to submit its position is March 7, 2022

Meanwhile, Rep. Nicole Malliotakis (R-NY) is opposing these efforts and urging the Justice Department to take action to prevent the creation of such facilities. In November, she expressed her concerns to Attorney General Merrick Garland about New York’s decision to authorize the harm reduction centers. The Republican congresswoman stated that opening such centers would only encourage drug use and further deteriorate the quality of life.

The creation of harm reduction centers or the idea of exploring options to minimize overdose related deaths has received some form of support from government officials. Dr. Rahul Gupta, the White House’s drug czar, recently said that it was important to explore ways to reduce overdose deaths. Xavier Bacerra, the secretary of the U.S. Department of Health and Human Services, supports the supervised facilities, and while serving as California’s attorney general, he was among the top law enforcement officials who filed an amicus brief in support of Safehouse’s plan.

In addition to New York, Rhode Island signed a bill in July that would see the state establish a pilot program for a safe consumption site. Massachusetts considered a similar bill last year. California’s senate passed its own similar bill allowing for the establishment of overdose prevention programs. Other regions in the world that have harm reduction centers include

Canada, Europe and Australia.

If the federal government gives its nod to safe drug consumption sites, it will be one more chink off the prohibition armor, and marijuana sector players such as Cannabis Strategic Ventures Inc. (OTC: NUGS) can begin to hope for the federal-level overhaul of the existing cannabis laws.

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420 with CNW — Data from UK Registry Reveals Medical Marijuana Improves Patients’ Quality of Life

A study conducted by the UK Medical Cannabis Registry reveals the association between prescribed medical marijuana and an improvement in the quality of life of a patient. The UK Medical Cannabis Registry is a first-of-its-kind database known to contain details of the largest group of patients that have been prescribed medical marijuana.

The registry was set up by Sapphire Medical, a medical cannabis clinic providing patients with an expert assessment of their health conditions and considerations for using medicinal cannabis for treatment. The data in the registry is anonymous and is available upon request to the medical community.

The study findings were published in the registry by “Cannabis and Cannabinoid Research,” an internationally peer-reviewed journal. The study analyzed data collected from 312 patients who were diagnosed with anxiety, chronic and neuropathic pain, fibromyalgia and needed palliative care over a period of six months. The demographic distribution revealed that the mean age was 45 with male participants accounting for 55% while 45% were female. Out of the total participants, 36% had used marijuana daily before the treatment. Data was collected while building up on research from Canada and New Zealand.

Generalized anxiety disorder was a common diagnosis across the patients. The anxiety score on average was consistent, which according to the results would reduce to below clinically relevant levels during a follow-up.

Medical cannabis was also found to have an effect on patients with chronic illnesses. It was found that one in four patients reported having symptoms of anxiety within the previous two weeks and then found relief. In terms of adverse events, 94 patients (30.1%) reported experiencing nausea frequently (3.8%) with other mild symptoms, including dizziness, dry mouth and sleepiness.

Sapphire Medical also mentioned that patients reported an improvement in the quality of sleep. However, due to the design and the nature of the study, these reports could not be linked to the use of prescribed medical marijuana.

This study followed a previous study that was published last year. Similarly, that study used data from the medical cannabis registry and noted significant improvements in pain, anxiety, sleep and quality of life after scoring patients one to three months after receiving treatment.

Since 2018, doctors in the United Kingdom are allowed by law to prescribe medical cannabis to patients under certain circumstances. According to Hemp Gazette, another piece of legislation is in motion that aims to expand the ability of general health practitioners to prescribe unaccredited cannabis medical products.

This data provides yet more proof that the cannabis products manufactured by licensed entities such as Cannabis Strategic Ventures Inc. (OTC: NUGS) from around the world can be pivotal in benefiting patients who would have otherwise failed to derive similar benefits from conventional medications.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

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