CannabisNewsBreaks – Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) Announces Entry into Strategic LOI

Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) today announced its entry into a letter of intent (“LOI”) for the formation of a commercial relationship with Kingston Cannabis Inc. (“KCI”), a Health Canada licensed producer, to launch its cannabis-infused beverages through a co-packing arrangement with KCI. Under the arrangement, KCI’s affiliate, Kingston Aluminum Technologies Inc. (“KAT”) will provide custom designed aluminum packaging for Sproutly’s products. In addition, KCI and Sproutly will collaborate on the consumer evaluation of Sproutly’s formulations made using ingredients produced by the proprietary APP cannabis processing technology. “This relationship will allow us to launch our beverages made with our proprietary Infuz2O extract in distinct, environmentally friendly aluminum containers with unique internal coating for better preservation of cannabis products,” said Dr. Arup Sen, CEO and director of Sproutly. “Additionally, we will utilize KCI’s research license to test our product formulations and select our 3.0 beverages for features that are preferred in consumer products that will deliver a true-to-strain, whole-plant experience.”

To view the full press release, visit https://cnw.fm/DWB9b

About Sproutly Canada Inc.

Sproutly is positioning to become a leading supplier of proprietary cannabis ingredients, brands and customized formulations for the cannabis beverage and edibles marketplaces in Canada, Europe, Australia and other international markets. Its proprietary natural water-soluble Infuz 2 O and BioNatural Oils are designed to deliver true-to-strain whole-plant experiences to new consumers and cannabis connoisseurs alike, ushering in the Cannabis 3.0 revolution. Sproutly will enter into partnerships with globally established consumer brands to leverage existing customer bases, brand recognition and distribution networks to deliver this scientific breakthrough with speed and efficiency in major commercial territories around the world. For more information on Sproutly, please visit www.Sproutly.ca.

About CanadianCannabisWire

CanadianCannabisWire (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 (U.S. Mobile Phones Only)

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

Please see full terms of use and disclaimers on the CanadianCannabisWire 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

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

420 with CNW – Congressional Committee to Debate Two Marijuana Legalization Bills This Week

On Friday, a memo briefing to the effect that when the legislative session starts this week, a Congressional committee would be debating two legislations seeking to legalize marijuana at the federal level as well as other marijuana research legislations.

On Wednesday, the House Energy and Commerce subcommittee will hold a hearing on several reform proposals, with testimonies from the Drug Enforcement Administration (DEA), Food and Drug Administration (FDA), and National Institute on Drug Abuse (NIDA) witnesses.

This comes two months after the House Judiciary Committee approved the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act, which was sponsored by Chairman Jerrold Nadler (D-NY). The MORE Act is one of the bills being taken up by the Energy and Commerce Subcommittee on Health on January 15.

The obtained memo starts by detailing the content of the marijuana policy in the U.S., such as the restrictions imposed by the Controlled Substances Act (CSA) on marijuana research, legalization of industrial hemp, petitions submitted in the past seeking for marijuana rescheduling, and public health issues.

Some of the witnesses for the scheduled hearing include Matthew Strait, who is the DEA Senior Policy Advisor, FDA Deputy Director for Regulatory Programs Douglas Throckmorton, and the Director of NIDA Nora Volkov.

Discussed below are some of the bills which will be debated next week.

Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act

The MORE Act aims to remove marijuana from the list of controlled substances Act. It is also seeking for expungement of the records of past marijuana convictions, as well as imposing a five percent tax on marijuana sales. Revenues from the sales would be reinvested in communities most affected by the war against drugs.

The MORE Act would also create a way for resentencing people jailed for marijuana felonies. It would also ensure that immigrants are not denied citizenship because of marijuana. The bill has provisions to ensure that weed users are not blocked from receiving public benefits and security clearance by federal agencies.

Marijuana Freedom and Opportunity Act

The legislation was sponsored by Rep. Hakeem Jeffries (D-NY). The bill’s provisions are to deschedule marijuana at the federal level, create a fund that supports minorities and marijuana businesses owned by women as well as providing grants to marijuana ex-convicts.

Medical Marijuana Research Act of 2019

It was sponsored by Rep. Matt Gaetz (R-FL). The bill seeks approval of more manufacturers of research-grade cannabis, protects institutions researching weed, and gives permission to the Department of Veteran Affairs in the U.S. to present patients with the option of treating their conditions using marijuana.

Medical Marijuana Research Act of 2019

A bipartisan group of House members led by Rep. Earl Blumenauer (D-OR) introduced the legislation. It has provisions simplifying the process of registration for researchers interested in studying marijuana. It also permits private manufacturers to supply researchers with research-grade marijuana.

Legitimate Use of Medicinal Marijuana Act

It was introduced by Rep. Morgan Griffith (R-VA). It aims at moving marijuana from Schedule I to Schedule II. It also aims at clarifying that transportation, use, possession, production, and distribution of medical marijuana cannot be prohibited by the federal government.

Veterans Medical Marijuana Safe Harbor Act

It was sponsored by Rep. Barbara Lee (D-CA). Its aim is to allow military veterans to use, possess, or transport medical pot under federal law. Veteran Affairs doctors would also be permitted to recommend medical marijuana to their patients.

It would be eye-opening to hear what industry actors like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and Grapefruit Boulevard Investments Inc. (OTCQB: IGNG) think of the odds that those bills will make it through both legislative chambers and become law.

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 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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Top Italian Court Rules That Growing a Few Marijuana Plants at Home is Legal

Italians have joined the club of countries that allow their residents to grow and use a limited amount of marijuana at home as long as it’s for personal use. The country’s highest court in Rome made the landmark decision long before Christmas, on December 19, but local media only got wind of the news last Friday.

Legislation dating back to the 1990s barred the farming and sale of marijuana, but there has been great uncertainty about the laws due to contradictory court decisions. After being asked to clarify, the Court of Cassation declared that the crime of growing narcotics should exclude “small amounts grown domestically for the exclusive use of the growers.” In a one page statement, the court said that “at home, small scale cultivation activities are to be considered excluded from the application of the penal code.”

Matteo Mantero, a senator from the 5-Star Movement, the governing coalition party, presented an amendment to the 2020 budget calling for the legalization and regulation of domestic cannabis use. Sadly, it was ruled inadmissible by the Senate speaker form Silvio Berlusconi’s conservative Forza Italia party. He says that the Court has opened up the way for cannabis legalization and that it’s “up to us now.”

Leonardo Fiorentini, a representative of the drug policy advocacy group Forum Droghe, says that it’s a ” very important decision because it will shield from prison those who choose to cultivate marijuana for personal use.”

In 2013, a court in Torre Annunziata, a small town in southern Italy, sentenced a man to a year in prison and a $3,365.85 fine for growing two cannabis plants at home. After a series of appeals, different sections of the court system came to different conclusions on allowable scale of marijuana cultivation. In August, the court turned to its highest authority, the Sezioni Unite, which is like the Supreme Court of the country.

It concluded that the rudimentary techniques and small amounts produced in small scale growing makes it irrelevant to the illegal drug trade that the criminal law is intended to address.

There are 6.2 million cannabis users in Italy, most of them aged between 15 and 34, according to the newspaper Corrier della Sera. More men than women consume cannabis in the country. Although it is currently decriminalized for personal use, medical and industrial use is heavily restricted. The country is dotted with special “weed shops” that cater to people who smoke recreationally, as long as the plants maintain a THC level of below 0.6 percent.

Experts wonder what industry players like Cannabis Strategic Ventures Inc. (OTCQB: NUGS) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) think of such decisions abroad when the U.S. federal government has remained steeped in a prohibitionist stance on marijuana.

About CNW420

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 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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Michigan Retailers Sell Recreational Weed Worth $3M in First Two Weeks

It is the second week of marijuana sales in Michigan, and although the lines are not long, and the sales have reduced, the adult-use marijuana business remains brisk.

Reports from the Marijuana Regulatory Agency in Michigan show that the few numbers of retail marijuana outlets selling recreational marijuana have been able to collect a total of $3.1 million in sales so far.

The businesses located in Ann Arbor were able to collect $1.6 million in sales during the first week of recreational marijuana sales, which took place between December 1-8. During the second week of recreational cannabis sales, which was between Dec. 9 and 15, the shoppers spent approximately $1.4 in weed purchases.

Within the two weeks of sales, the state of Michigan collected a total of $515,051 in taxes, out of which sales tax is 6% while 10% is an excise tax.

According to the appropriation budget, the first $20 million generated in tax within the first two years of recreational marijuana sales is to be used in medical marijuana research. The rest of the funds are to be assigned as follows,

15% to the municipalities, townships, or villages,
15% is to be allotted to counties that have permitted the establishment of recreational weed businesses,
35% to public schools, and
35% to roads and infrastructure.

Out of 1,773 cities, townships and villages in Michigan, 1,400 of them have prohibited any recreational marijuana business in their jurisdictions.

The budget officials in Michigan are estimating that by late 2021 adult-use marijuana may become a $1.5 billion per year industry.

The state of Michigan had issued 16 licenses as of December 17, which is four more than what the Andrew Brisbo committee had projected by the new year. Brisbo is the Marijuana Regulatory Agency Director. However, most of the licensed businesses have not started operating due to delays in acquiring stock required to fill their shelves.

The only business allowed to obtain recreational marijuana businesses licenses till Dec 6, 2021, are those already operating businesses licensed under medical marijuana licensing laws.

The state allowed medical marijuana dispensaries to transfer half of the medical marijuana inventory which is older than 30 days to the recreational market.

Although some were pleased by the MRA move, some have expressed their concerns over the possible shortage of medical marijuana due to the high demand from recreational consumers.

During WKAR’s off the record, the Executive Director of Michigan Cannabis Industry Association Robin Schneider said that the state of Michigan is already experiencing a shortage of medical marijuana and the early launch of recreational sales could exacerbate the situation. He further said that there is a probability of sending patients to the black market due to lack of legal marijuana.

Speaking to MLive.com, several businesses said that they are stocking up their business before opening their doors to avoid running out of stock.

Speaking to MLive.com, the owner of Herbology Cannabis Co. in Wayne County’s River Rouge, Tarek Jawad said that he is uncertain when he will open his doors because the recreational marijuana is not enough to stock the stores. He added that he plans on placing large orders for medical marijuana so that after 30 days, he can transfer it to the recreational side.

Three of the largest licensed marijuana growers also own recreational outlets. This makes it hard for owners like Jawad to obtain recreational products.

The state also issued licenses for a testing laboratory, three recreational cannabis transportation companies, and to an event coordinator.

Experts are certain that cannabis industry actors like Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) are happy for the people of Michigan who are finally getting to enjoy the benefits, such as jobs, created by the marijuana industry.

About CNW420

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 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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Massachusetts Patients Turn to Maine for Affordable Medical Marijuana

Fifty year old Ingrid Martinez is terminally ill and undergoing chemotherapy. Martinez uses medical marijuana to manage pain and nausea. She resides in Lowell, and before she got sick, she was working in medical coding. Martinez travels to Maine after every three weeks to buy marijuana rather than get her supplies from Massachusetts where she resides.

She has a Massachusetts medical marijuana card, but she said that the MMJ is expensive in the Bay State. Martinez stopped using marijuana at some point because she could not afford it, and that is why she travels to Maine because it is cheaper than in Massachusetts.

Although it is illegal to transport marijuana across state lines, patients from Massachusetts are driving to Maine to purchase medical marijuana because it is affordable. Late August, Maine started accepting Massachusetts medical marijuana cards, and since then, marijuana outlets bordering the states have encountered a large number of customers from the Bay State.

The marijuana outlets in Maine started receiving more customers after the officials in Massachusetts banned the sale of vaping products except those used to vape crushed marijuana buds.

The owner of Your Green Thumb Caregivers in Kittery, Pam Edwards, whose shop is less than 30 minutes’ drive from northeastern Massachusetts, said that about 30% of her business comes from Bay State residents.

Edward further said that most of her customers told her that Maine has a wide range of products with better prices. She also noted that customers from Massachusetts rub their eyes when they see the costs of the merchandise because they cannot believe they are that cheap.

Recently, the online menu for Your Green Thumb Caregivers’ price for 1/8 ounce of marijuana was ranging between $20 and $50 while the rate for the same quantity at Patriot Care in Lowell was $50. Your Green Thumb Caregivers had 35-plus flower options while Alternative Therapies in Salem had 12 options.

The Price of Weed is a website that compares marijuana prices in different states. On Friday, it showed that medium quality marijuana in Massachusetts was going for $282 per ounce while in Maine, it was $232 an ounce.

A medical marijuana patient and advocate, Mike Crawford, said that he drives to Your Green Thumb Caregivers from North Shore every week to buy legal weed at an affordable price. He noted that the first time he bought the pot, he felt like it’s Christmas.

Crawford also noted that Maine stores have more price options depending on the quality of the weed. Compared to Massachusetts, the prices and products are better in Maine.

The law governing the marijuana market in Massachusetts is stringent as it requires the medical marijuana companies to grow their marijuana products, and this controls all aspects of sales. While in Maine, there are eight licensed dispensaries, which are large businesses. The state also has caregivers and small-scale independent farmers who are allowed to open retail stores and sell marijuana.

Another reason why marijuana is cheaper in Maine is that the cost of a license application is also low. The license fee for a farmer who is looking to grow 30 mature and 60 immature marijuana plants is $1,200 in Maine, while in Massachusetts, it is $30,000 plus an application fee of $1,500.

Massachusetts also has strict testing and packaging requirements, which are non-existent in Maine.

However, there are risks involved since in Massachusetts the products have labels detailing the ingredients while in Maine, you are taking a chance with each product you buy.

Experts suggest that marijuana companies like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) may need to prevail on their counterparts to form associations that set uniform standards that all products must adhere to in order to give consumers the best that the industry has to offer.

About CNW420

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 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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Massachusetts Consumers Buy Legal Marijuana Worth $393 Million in First Year

It has been a year since Massachusetts started selling recreational marijuana, and although the state was not in a hurry to speed up the matter, the public was interested as they rushed to the retail stores immediately after the sale began.

It took long to legalize adult-use marijuana in the state, but in November of 2016, the citizens legalized recreational cannabis through the ballot. In 2017, Massachusetts governor, Charlie Baker, signed legislation that changed the rules governing weed, pushing the sales of recreational marijuana back by six months. After overcoming several other hiccups, the Cannabis Control Commission (CCC) passed the most significant regulations in March of 2018. The state only had four retail outlets licensed to sell marijuana by October 2018, and only two were operable during the launch of marijuana sales.

In 2017, the Department of Revenue in Massachusetts estimated that for the 2019 fiscal year, the state would be able to collect marijuana tax revenue ranging between $44 million and $82 million. The DOR made the estimates hoping the state would be having a reasonable number of retail marijuana outlets, which didn’t happen on the first day of legal sales.

However, the program started well since, in the first five days of the sale, customers spent $2.2 million, and on the first day alone, the retail outlets sold 56,380 units at an average price of $39.33 per item. The total sales for that day amounted to $440,000.

In 2019, the state of Massachusetts has reported gross marijuana sales of $393.7 million from the records of 33 licensed retail outlets. Although the demand for adult-use marijuana is high, the supply is low because the number of licensed cultivators in Massachusetts is not enough to service all the dispensaries. The licensing process for cultivation licenses is slow, and there are only two testing facilities in the state, causing additional problems for the dispensaries.

The CEO of AmeriCann, Tim Keogh, said that the company recognized Massachusett’s potential in becoming one of the top players in the marijuana market several years back. Keogh further noted that his company expects a significant contribution to the marijuana industry. He also said that they have completed the construction of the Cannabis Center Development, which is a cultivation and processing facility standing on a 30,000-square foot plot. The facility will be wholly occupied by Bask, Inc., which an existing vertically integrated marijuana operator in the state.

The CCC chairman Steve J. Hoffman commended retailers and consumers of marijuana for participating in the launch of adult-use legal sales in the state. He further said that he was proud of the marijuana businesses for working together with the commission to obtain and maintain compliance with the state’s regulations. The state is in the process of approving an additional 54 retail licenses once the commission is through with inspection and compliance protocols.

The senior analyst in Canaccord Genuity, Bobby Burleson, said that the rollout was slower than was expected. He further said that the state is planning on approving more operator licenses and additional dispensaries in Brookline and Newton. By the end of 2019, the sales are expected to increase to $600 million, and by 2020, the DOR estimates that the sales would be more than $1.2 billion. The state is yet to report the amount of revenue generated in the first year of recreational marijuana sales.

Analysts are of the view that industry players like MCTC Holdings Inc. (OTC: MCTC) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) who see these sales statistics will view them as highly encouraging for the sector given the stuttering start to the adult-use market.

About CNW420

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 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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – New Jersey Lawmakers Now Say Voters Will Have Final Say on Marijuana Legalization

In New Jersey, lawmakers are abandoning plans of legalizing marijuana through the legislature and are now looking to enter the proposal on the 2020 ballot for the voters to decide.

On Monday, President of the Senate, Steve Sweeny and the Senate Judiciary Committee Chairman Scutari (D) in a press release said that their efforts to gather more support for the measure did not bear any fruit which is why they have filed a motion to allow New Jersey residents to vote on the matter in a referendum.

In their press release, the leaders said that they are seeking for approval to enter the measure of legalizing adult-use cannabis on the 2020 ballot. The legislation seeking for a public referendum was introduced in the legislature on Monday. The proposal will lead to the establishment of a system that permits people to buy and use cannabis recreationally and responsibly.

They further said that the measure would make it possible for the state to control and ensure that retail outlets are selling safe products. It would also limit marijuana sales to adults only. The state of New Jersey would also be in a position to impose sales tax on marijuana sales.

According to media reports, the plan is for the referendum proposal to be approved by the legislature and set the ballot measure for voters in the 2020 general election. The two leaders are positive that the Senate, Assembly, and voters will approve the proposal.

In a tweet, Governor Phil Murphy said that he is disappointed that the Senate was unable to approve adult-use marijuana. He further noted that the failure would lead to the weekly arrest of about 600 people, the majority of whom will comprise members of the black community. He also said that he is hopeful that the New Jersey residents will approve the ballot measure.

The negotiations for legalizing recreational marijuana went on for months, after which Sweeney noted that legalization would have to be done through the ballot.

The resolution calling for the referendum does not offer a detailed description of the outlook of the proposed market for marijuana. The proposal only states that persons above the age of 21 would be allowed to buy and use weed from licensed retail outlets. And, the Cannabis Regulatory Commission of New Jersey would be responsible for regulating the program. The proposal also suggests that a sales tax would be imposed on marijuana sales.

In the ballot, the voters would be asked if they approve the constitutional amendment legalizing a controlled form of recreational cannabis. The draft question would also state that only people who are 21 years and above are allowed to use marijuana and that a state commission would oversee the cannabis program, as well as the market.

In a press release, the Assembly Speaker, Craig Coughlin, said that the legislation for putting the recreational marijuana question to the voter would be voted on by the Senate.

Smart Approaches to Marijuana, a prohibitionist group, celebrated after the legislature announced plans of giving up on the legalization. They said that they would invest in discouraging New Jersey residents from supporting the ballot legalization measure.

Experts are of the view that this failure to legalize marijuana legislatively may have come as a disappointment to the cannabis industry, including entities like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and Marijuana Company of America Inc. (OTCQB: MCOA), that had hoped that the people of New Jersey would soon enjoy the many benefits of marijuana, such as employment opportunities.

About CNW420

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 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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Clinical Trials of Cannabis as a Treatment for Pancreatic Cancer Expected

The United States Food and Drug Administration has granted a flavonoid of cannabis (Caflanone) the status of the Orphan Drug. It is estimated that within the next few months, the approved Orphan Drug will be used in clinical trials for treating pancreatic cancer. The clinical trials will involve human subjects.

Flavocure is a drug innovation and development company. The company developed the cannabis flavonoid Caflanone (FBL-03G). The U.S. Food and Drug Administration granted Caflanone the Orphan drug status after it was successful in reducing tumor progression in animals with pancreatic cancer through therapy.

The Executive Chairman of Flavocure, Dr. Henry Lowe, said that the company is happy for the designation of Orphan Drug status by the FDA for Caflanone. He further noted that the appointment is a momentous breakthrough for the Flavocure innovation and drug development program.

Dr. Lowe also said that they expect to start a clinical trial involving human subjects with the New Investigational Drug in the next few months. The clinical trials will be addressing pancreatic cancer.

He added that a new standard of care is required for effective and innovative treatment of pancreatic cancer, and as a recognized leader in the field of drug discovery and development, it is their responsibility to bring a new standard of care to the world.

Dr. Ngeh Toyang, the CEO of Flavocure, said that although less than 200,000 people have been diagnosed with pancreatic cancer per year, it is considered as the most common cause of death among cancer patients in the U.S.

Flavocure and the Harvard Medical School conducted pre-clinical studies and published their findings in the Frontiers in Oncology Journal. People from all over the world have been sending feedback and inquiries about the study results, and this has motivated Flavocure to commence the clinical trials for pancreatic cancer.

The drug granted the Orphan Drug status by the FDA, Caflanone, was derived from a prevalent Cannabis Sativa strain found in Jamaica.

Caflanone, which is rich in phytocannabinoids material, was discovered by Professor Lowe, University of Maryland Medical School, and University of the West Indies Medical School.

The Caflanone is now available commercially and can be used in human clinical studies. The Harvard Medical School developed a nano-drone delivery technology for Caflanone, which was approved by the FDA.

Harvard Medical School conducted pre-clinical studies using Caflanone and the drug portrayed great results in animal models with pancreatic cancer, which were difficult to treat. The medical and research community are optimistic about the potential of the drug. It has also aroused the interest of the patients.

President Ronald Reagan approved the Orphan Drug Act in 1983 to encourage companies to innovate and develop drugs that are geared towards helping patients suffering from rare diseases.

Companies which qualify for Orphan Drug designation receive benefit across all stages of drug development such as a speedy approval process, seven years of market exclusivity, and tax credits on U.S. clinical trials. They are also eligible for Orphan Drug grants, and a waiver of some administrative fees.

It is believed that the entire cannabis industry, including players like Marijuana Company of America Inc. (OTCQB: MCOA) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) could be waiting with crossed fingers for the outcome of this planned clinical trial that will expand the confirmed therapeutic benefits of marijuana for cancer patients.

About CNW420

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 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

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – How to Get Maximum Pain Relief Using Cannabis

When suffering from chronic pain, medical marijuana can help you manage the pain. And since you need to use medical marijuana several times a day, your body may become tolerant of the medicine to the point where your pain does not abate ultimately and leaves you needing more to function normally.

Tolerance of the body to medicine is most seen in patients who have cancer, those living with nerve damage, back injuries, and chronic pain. When the prescription drug becomes tolerated by the bodies of patients suffering from the mentioned ailments, the patients tend to increase the dosages, which could be very harmful to their health as it could lead to addiction or death. However, with marijuana, you cannot be addicted as the compounds used to make medical marijuana are non-psychoactive.

Discussed below are several ways through which you can derive maximum benefits from nature’s best medicine.

Take Your Marijuana Medicine with Something Full of Cholesterol

Research shows that THC binds well to a substance with cholesterol. THC is also fat-soluble; therefore, after taking your marijuana medicine, it is advisable to eat something fatty, such as a slice of bread spread with butter. The CBD binds onto the fat and will be easily distributed throughout the body for maximum pain relief.

Eat a Mango

The terpenes found in mangoes interact well with those found in marijuana, and this action extends the effects of cannabis, keeping the patients relaxed for a more extended period. Patients can therefore eat one immediately before or after taking medical marijuana.

Use Topicals Along with Oral Cannabis Medicine

When ingesting medical marijuana for pain relief, it is advisable also to use topicals to relieve pain on the surface of the places that are in pain. These topical products include salves, creams, or lotions. To get maximum relief, rub them on the parts that are aching, sore, or tense muscles with warm hands, and you will feel the pain abating slowly by slowly.

Switch Up Your Routine

Most marijuana users or patients have that one method that they can swear by that gives them maximum relief. However, switching the method or location may help you get the most of your session. For instance, consummate smokers can switch their smoking devices.

Practice Breathing Techniques

If you are inhaling medical marijuana, take a deep breath, and hold it in to ensure that it reaches your lungs to give a much-needed boost, particularly if you have not smoked for a while. This deep breathing will get the medical cannabis into your bloodstream and relief will follow shortly.

Research is ongoing to identify ways through which cannabis can be amplified to provide relief in small doses. In the meantime, experts believe that cannabis industry players like Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Sproutly Cananda Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) wouldn’t object to the options above since they can help patients to use less marijuana to get maximum pain relief.

About CNW420

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 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 – Why the Marijuana Black Market May Be Hard to Eradicate for Now

The marijuana market has been marked as one of the fastest-growing industries in the world by Wall Street. This comes after marijuana sales tripled all over the world between 2014 and 2018. By 2030 Wall Street estimates the global annual revenue to increase from 5% to 18%. The surge in pot stocks has attracted much interest as it is impossible for Wall Street and investors to ignore this type of growth.

Several challenges have cropped up which have caused a drop in the price of pot stocks over the past six months. The main problem is the rise in the black market for marijuana products despite the legalization of recreational marijuana in Canada and some states in the U.S. which was expected to curb the market.

Globally, California is the largest legal weed market; however, it is projected that illicit marijuana sales could outdo legal marijuana sales with a significant gap of 8.7 billion to 3.1 billion. In early February, Scotiabank estimated that black market cannabis sales would contribute 71% of the total sales in 2019.

The marijuana black market may be hard to eradicate for now because of the following five reasons.

Supply Shortages in Canada

Canada has been faced with a persistent marijuana shortage since the legalization of recreational marijuana in 2018. The deficit is attributed to the long line of cultivation, processing, and sale licenses. In 2019, the regulatory agency Health Canada had more than 800 applications pending approval, which would take the agency several months to work through. The growers and sellers are therefore forced to wait for the permits before they can grow or sell marijuana. Issuing of dispensary licenses is also slow forcing consumers to buy marijuana from the black market.

High Tax Rates in the U.S.

High taxation rates are forcing consumers to buy marijuana from the black market. In California for example, pot buyers are paying an excise tax of 15%, each ounce of dried cannabis incurs a wholesale tax of $9.25 for buds and $2.75 per ounce of cannabis leaves. When added, the total bill comes to an aggregate tax rate of 45% on legal weed. Factoring in the price of laboratory tests, it becomes clear why legal marijuana cannot compete with black market weed.

The Dispensary Licensing Process is Slow

The slow approval process of dispensary licenses in Canada, and the U.S. has contributed to the prosperity of the black market. For example, the slow pace of dispensary opening in Quebec, Canada severely affected the sell-through rate of marijuana while in California, one store is supposed to service 61,000 adults, and this is forcing consumers to purchase from the black market sellers.

Jurisdiction Challenges in some States in the U.S.

A severe problem is arising in the states such as California and Colorado, which gives jurisdiction to local municipalities to approve licenses for local retail stores. In California close to 805 of the cities have banned commercial marijuana and this has opened the door for the black market retailers to flourish.

Strict Regulations

The rules meant to bankrupt the black markets businesses seem to have failed. An audit carried out by the United Cannabis Business Association was presented to Governor Gavin Newsom, which showed that out of 3,757 listings of marijuana sellers in California, 2,835 of them were unlicensed.

Canada is a bit strict in implementing its regulations; for instance, Health Canada suspended cultivation and sale licenses for CannTrust Holdings and that could have contributed to worsening the supply shortages on the legal market.

Experts think cannabis companies like Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) and Grapefruit Boulevard Investments Inc. (OTCQB: IGNG) long for the day when each of the bottlenecks above will be resolved so that the black market can be decisively addressed.

About CNW420

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 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