April 2022 - Page 5 of 7 - CannabisNewsWire

WednesdayApr 13, 2022 4:20 am

420 with CNW — Thailand Foresees High-End Marijuana Tourism as Legalization Looms

As territories around the world legalize cannabis, a new segment dubbed “cannabis tourism” has emerged. Folks from countries and states that haven’t legalized cannabis travel to regions that have legal cannabis, bringing in millions of dollars in cannabis purchases. For example, in 2016, the Colorado Department of Revenue reported that around 6.5 million cannabis tourists had traveled to the state to purchase and consume marijuana. Thailand, which is one of the strictest countries in the world in terms of drug offenses, may soon be benefitting from cannabis tourism as well. The country's narcotics board recently announced plans to delist cannabis…

TuesdayApr 12, 2022 4:20 pm

420 with CNW — Illinois Officials Say Cannabis Sales Recovered to $131 Million in March

A report released earlier this week by the Department of Financial and Professional Regulation in the state of Illinois shows that the state recorded about $131 million in legal recreational marijuana purchases in March. The state broke its annual record for marijuana sales last year, with more than $1.4 billion in cannabis being sold. However, cannabis product purchases reduced during the first two months of this year. This new figure makes this the state’s second-highest recorded sales for adult-use cannabis since the industry’s opening in 2020. In the report, the department stated that last month, about $90.3 million in adult-use…

TuesdayApr 12, 2022 9:15 am

InMed Pharmaceuticals Inc. (NASDAQ: INM) Gaining Advantage on Processing Rare Cannabinoids with the Help of Subsidiary Bay Medica

There is an urgent need for large-scale biosynthetic processing that preserves the purity and consistency of cannabinoids Acquired by InMed in October 2021, Bay Medica is a private U.S. firm specializing in the manufacturing and commercialization of rare cannabinoids for the health and wellness sector InMed has two cannabinol formulations currently in development for ocular and dermatological diseases – INM-088 (ocular for glaucoma) and INM-755 (dermatological cream for epidermolysis bullosa) The global cannabis market increased exponentially after the pandemic hit, and is anticipated to continue its upward trend over the next few years. The market was valued at $20.47 billion…

TuesdayApr 12, 2022 9:15 am

Lexaria Bioscience Corp. (NASDAQ: LEXX): A Review of Its Research Developments

Lexaria Bioscience, the global innovator behind DehydraTECH drug delivery technology, has continuously focused on research into its patented technology The company has conducted both in vitro testing and in vivo animal and human testing to evaluate the ability of DehydraTECH to improve the delivery of various APIs (active pharmaceutical ingredients) Lexaria has multiple other studies lined up aimed at building sufficient data to effect meaningful industry and/or regulatory progress and sustainable increases in valuation As it moves toward national and international implementation and commercialization of its patented DehydraTECH(TM) drug delivery technology, Lexaria Bioscience (NASDAQ: LEXX) is aware of the need…

TuesdayApr 12, 2022 9:00 am

Advanced Container Technologies Inc. (ACTX) Makes Mark at CannaCon Conference, Strengthens Foothold in Growing Market

The company exhibited at the premier event, held March 31–April 1, 2022 ACT has worked to strengthen its presence in the cannabis space This strategic positioning comes as the global cannabis packaging market is projected to reach $297.51 billion by 2026 Advanced Container Technologies (OTC: ACTX) recently wrapped up a successful appearance at the CannaCon Conference, showcasing its new product line and strengthening brand awareness. The company exhibited at the premier event, held March 31–April 1, 2022, alongside Grassfire Distro, ACT’s exclusive packaging reseller (https://cnw.fm/sLimf). Prior to the two-day event, Advanced Container Technologies CEO Doug Heldoorn noted that ACT had…

TuesdayApr 12, 2022 4:20 am

420 with CNW — House Approves Bipartisan Cannabis Research Measure Days After Approving Federal Legalization Bill

Earlier this week, the House of Representatives passed a bipartisan cannabis research measure designed to streamline research on marijuana, partly by permitting researchers to access products sold in state-legal dispensaries. This vote comes days after the chamber approved the MORE Act , which would federally legalize marijuana. The research measure, dubbed the Medical Marijuana Research Act, was sponsored by Rep. Andy Harris and Rep. Earl Blumenauer and was approved by the legislators in a 343 to 75 vote. Both the Senate and the House approved earlier versions of their separate marijuana research measures in 2020. However, none of these bills…

MondayApr 11, 2022 4:20 pm

420 with CNW — Schumer Reaches Out to GOP Senators for Input on Upcoming Cannabis Legalization Bill

Senate Majority Leader Chuck Schumer has made his support for cannabis reform quite clear. Last year he revealed that he was working on a bill that would federally legalize cannabis and he has stated that he would act on cannabis legislation with or without President Joe Biden's approval. However, efforts to pass some kind of marijuana legislation, whether it is widespread reform or cannabis banking, have been held back by the GOP. Cannabis legalization is one of the many things Republicans and Democrats can’t seem to agree on. While a lot of Democrats believe that legalizing cannabis would be beneficial…

MondayApr 11, 2022 4:25 am

420 with CNW — Colorado Announces Another Round of Cannabis-Themed Auto Registration Plates

In the two decades since California first legalized recreational cannabis, the controversial plant has generated billions of dollars in taxes for states. Recognizing the impact the war on drugs had on Black and Brown communities, several states dedicated a chunk of these funds toward reinvesting in these communities. Additionally, cannabis taxes have also been used to fund programs that offer various kinds of aid. Despite the controversy that surrounds cannabis, funds raised from marijuana sales have consistently been used to do good. In that vein, officials from Colorado recently announced that there would be a second round of auctions to…

FridayApr 08, 2022 4:20 pm

420 with CNW — White House Tight Lipped on Biden’s Views About Approved Federal Cannabis Legalization Bill

Last week, the House of Representatives approved a measure to federally legalize marijuana. However, hours after the bill’s passage, White House Secretary Jen Psaki declined to address whether President Joseph Biden supported this particular measure, instead stating that the president agreed that the country’s current cannabis laws weren’t working. The House passed the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which is set to advance to the Senate. Psaki, who was also asked about President Biden’s position on the legislation, stated that the president agreed that the approach to marijuana policy needed to be reevaluated. She then repeated remarks that…

FridayApr 08, 2022 4:25 am

420 with CNW — Analysts Say Marijuana Unlikely to Be Legalized But Banking Reform Could Happen This Year

The past couple of years have been positive ones for cannabis. Dozens of states have legalized recreational and medical marijuana, granting millions of Americans access to a plant that had been outlawed for decades. Furthermore, the state-legal cannabis industry has been incredibly lucrative, generating billions of dollars in sales and creating hundreds and thousands of new employment opportunities. Despite these successes, cannabis is still criminalized by federal law. Consequently, drug reform activists, industry stakeholders and some lawmakers have been championing federal legalization. Not only would this open the cannabis market even more, but it would also allow the country to…

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Month: April 2022