February 2022 - Page 2 of 6 - CannabisNewsWire

WednesdayFeb 23, 2022 4:20 pm

420 with CNW — PanXchange Launches Industrial Hemp Trading Platform

Earlier this week, PanXchange launched its industrial hemp trading platform, which is open to qualified CPG manufacturers, processors, growers and trade houses, waiving commissions and registration fees. PanXchange has created buyer-approved methodologies that are inclusive of farmers, both small and large. The platform is focused on creating benchmark pricing for improved risk management and physical commodity trading markets. PanXchange CEO Julie Lerner explained that since the legalization of hemp, the growth of the hemp industry has suffered greatly because of competition, overproduction, stigma in mainstream agriculture and subsequent mergers and acquisitions, which wasn’t helped by the coronavirus pandemic. Lerner added…

WednesdayFeb 23, 2022 10:15 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Optimistic About its Expanded DehydraTECH Investigations; Plans for More Studies in 2022

Lexaria just announced ground-breaking findings from its recently-concluded Sildenafil animal study The success of this study sets the stage for various other studies on the use of the company’s patented DehydraTECH technology The company is set to commence dosing its most extensive hypertension study in April 2022, with results expected in Q3 2022 Its successful completion could greatly enhance Lexaria’s leadership position in the global drug delivery market Lexaria Bioscience (NASDAQ: LEXX) kicked off the 2022 calendar year by receiving independent review board approval for its upcoming DehydraTECH(TM)-CBD human hypertension study, HYPER-H21-4. Additionally, in what marks another critical milestone, the…

WednesdayFeb 23, 2022 4:20 am

420 with CNW — DEA Offers Help to Parents in Decoding Emojis Kids Use in Reference to Marijuana

A guide released by the U.S. Drug Enforcement Administration (DEA) reveals that people are buying and selling drugs on social media through emojis. The guide does not provide a thorough list of the emojis used, but it shows the efforts the agency is putting into monitoring discussions around the drug trade online. The DEA launched this guide as part of a campaign known as “One Pill Can Kill.” The goal of the campaign is to prevent an increase in overdose deaths as well as create awareness about counterfeit prescription drugs to parents, educators, teachers, the press and community organizations. Last…

TuesdayFeb 22, 2022 4:20 pm

420 with CNW — Latest Report Shows Record-Breaking 2021 Cannabis Sales in Colorado

Last week, the Department of Revenue in the state of Colorado released its cannabis sales figures for 2021, which show that the state broke another cannabis sales record last year as state officials reported more than $2.22 billion in marijuana purchases. The state’s 2020 sales record stood at $2.19 billion in cannabis purchases. These latest figures also show that Colorado took in more than $423 million in tax revenue from adult-use and medical cannabis sales in 2021. Since the retail market was launched almost eight years ago, marijuana sales have surpassed $12 billion. The department stated that the Cannabis Tax…

TuesdayFeb 22, 2022 9:45 am

American Cannabis Partners Eyeing Federal Landscape as 2022 Looms Large for Cannabis Legislation

Four cannabis bills introduced on federal level indicates import to government leaders. Increased compromise, bipartisanship could lead to significant changes. ACP is strengthening position in the sector, currently operating in two states that have passed legislation approving the substance. Federal cannabis reform has been a roller coaster ride over the past several years, with the introduction of several bills raising hopes for legislative support, especially with a change in the White House seeming to create a more cannabis-friendly atmosphere. But 2021 didn’t bring the much-anticipated change, and many companies operating in the space, including American Cannabis Partners (“ACP”), are looking…

TuesdayFeb 22, 2022 4:20 am

420 with CNW — Canada Set to Launch First In-Airport Marijuana Retail Store

British Columbia’s Prince George Airport may soon host the first in-airport marijuana store in the world. Owen Ritz, the cofounder of Copilot, which is the retail brand that’s spearheading this project, revealed that its airport terminal store would be open by the beginning of summer after store construction was completed and further approvals required from the government were received. In a recent interview, Ritz explained that cannabis was a product that some individuals used to relieve stress and, given that travelling was a stressful experience, the store’s presence would benefit customers who were looking to buy cannabis products and potentially…

FridayFeb 18, 2022 4:20 pm

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…

FridayFeb 18, 2022 9:30 am

Flora Growth Corp. (NASDAQ: FLGC) Focused On Opportunities in the CBD Industry to Scale Operations

Luis Merchan, Flora Growth’s President and CEO, appeared on a webinar on February 11, 2022, highlighting the opportunities and challenges affecting the CBD industry in key markets He has reiterated the company’s commitment to leveraging the industry’s opportunities for the growth of its operations, expansion of its market reach, and value creation for its shareholders The CBD industry is projected to be valued at $20 billion by 2025, and Flora Growth plans to capitalize on this growth In 2020, CBD sales in the United States reached $4.6 billion. It is projected that by 2024, this industry will be valued at…

FridayFeb 18, 2022 4:20 am

420 with CNW — Schumer Urges Senators to Provide Input on Cannabis Legalization Bill

Senate Majority Leader Chuck Schumer is urging fellow legislators to give input on the provisions of a measure to federally legalize cannabis. In a letter addressed to fellow legislators, Schumer, Sen. Cory Booker and Senate Finance Committee Chairman Ron Wyden explained that the continued prohibition of cannabis at the federal level hindered the states’ ability to make their own decisions about marijuana. The letter noted that as more states moved to legalize marijuana for both medical and adult use, the federal government had a crucial role to play. They added that hundreds of millions of people in America lived in…

ThursdayFeb 17, 2022 4:20 pm

420 with CNW — Congress Briefed on Federal Courts’ Varying Interpretations of Marijuana Clause

Lawmakers in Congress have been briefed on a report that shows the varying interpretation of a medical marijuana protection rider. Since 2014, Congress has included provisions in appropriations acts that exclude the U.S. Department of Justice (“DOJ”) funding from being used to prevent states and jurisdictions from enforcing medical marijuana laws. The provision, which is renewed during every financial year, lists a total of 52 jurisdictions and prevents the Justice Department from taking legal actions against these territories. A new report, released on Feb. 4, 2022, from the Congressional Research Service (“CRS”), reveals how federal courts have varyingly interpreted the…