October 2022 - Page 3 of 7 - CannabisNewsWire

ThursdayOct 20, 2022 4:20 pm

420 with CNW — Michigan Hits New Marijuana Sales Record in September

New data from the state of Michigan shows that for the third time this year, the state has broken a new record in its cannabis sales. Sales data from September shows that the state raked in $212 million from both medical and adult-use marijuana sales. This figure is $17 million higher than the state’s April sales and roughly $2 million higher than the state’s July sales. The data shows that the majority of the cannabis purchases for both recreational and medical use were for flower products. It also demonstrated a continuation of a sales trend in the state’s cannabis market,…

ThursdayOct 20, 2022 4:20 am

420 with CNW — New York Legislator Calls for Research on Determining Marijuana Impairment

As New York State works feverishly to ensure that recreational sales of marijuana are launched on schedule, a leading lawmaker, Crystal Peoples-Stokes, is concerned that at the moment, there is no surefire way to ascertain that someone has consumed marijuana and is impaired. Peoples-Stokes is the majority leader in the state assembly, and she was pivotal in getting the legalization law passed. She revealed that concerns about finding ways to determine impairment was part of the reason why the bill (now law) had provisions stipulating that 20–25% of the tax revenue generated from recreational marijuana sales should go toward conducting…

WednesdayOct 19, 2022 4:20 pm

420 with CNW — Nationwide Survey Data Shows Majority of Americans Support Cannabis Policy Reform

We have seen interest in cannabis increase these last few years, with new survey data showing that some three of four Americans, including majorities of Democrats, Republicans and Independents, are in favor of changing marijuana’s classification under federal law. Currently, 37 states and the District of Columbia have legalized the medical use of marijuana while 19 states have legalized its recreational use. Despite this, cannabis remains classified under Schedule I of the federal Controlled Substances Act with harmful drugs such as heroin. Drugs under this categorization have no currently accepted medical use in treatment and are thought to have a…

WednesdayOct 19, 2022 12:00 pm

REZYFi, Inc. In Great Position as Efforts to Enrich Marijuana Jurisprudence Gain Steam

REZYFi is a mortgage origination and specialized financing company with a primary focus on providing senior loans and project financings to state-licensed operators in the cannabis industry The company operates through two wholly owned subsidiaries, REZYFi Lending and ResMac REZYFi is in a position to benefit from recent efforts by the Biden administration and the U.S. Congress to reschedule and decriminalize marijuana, respectively, with the moves expected to boost the cannabis industry The SAFE Banking Act of 2021 and MORE Act have passed the U.S. House of Representatives and are awaiting debate in the Senate; the two bills, if passed…

WednesdayOct 19, 2022 11:15 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Using Novel DehydraTECH(TM) Technology to Address Unmet Antihypertension Drug Market

Research has shown that co-occurring conditions may be linked to high blood pressure, including bone aging and mental illness The antihypertension drug market is anticipated to rise due to the launch of novel pharmaceuticals and diagnostic agents Valued at US $30.2 billion in 2021, the market is expected to grow at a CAGR of 3%, resulting in a value of US $40 billion by 2031 Lexaria’s patented DehydraTECH(TM) technology offers higher bioavailability of active pharmaceutical ingredients due to, in part, bypassing first-pass-liver processing, improving the speed of onset, and brain absorption The American Heart Association (“AMA”) refers to high blood…

WednesdayOct 19, 2022 9:00 am

Flora Growth Corp. (NASDAQ: FLGC) Building Portfolio of Brands that Resonates with End Consumers as It Targets Margins and Profitability

Flora Growth is a global cannabis company building a connected, design-led collective of plant-based wellness and lifestyle brands The company’s portfolio of brands is designed to deliver the most compelling customer experiences in the world Through its M&A strategy, Flora Growth has brought on board brands like JustCBD, Vessel Brands Inc., Masaya, No Cap Hemp Co., and Mambe Flora hopes to establish meaningful connections with consumers through these brands, which will enable it to increase its margins and profitability The cannabis industry has gone global, undergoing a sea change in commercialization, normalization, and liberalization. According to a report by New…

WednesdayOct 19, 2022 4:20 am

420 with CNW — Biden’s Orders on Marijuana Run into Catch-22

There was a flurry of reaction, most of it in support, when President Joseph Biden recently issued a directive instructing the Department of Health & Human Services (HHS) to carry out a thorough medical as well as scientific review assessing the appropriateness of the current classification of cannabis in the Controlled Substances Act of 1970. In that law, marijuana is categorized in the same highly restricted group with heroin, cocaine and LSD (ecstasy). As the dust settles and the real work gets underway, it will become abundantly clear how much of a catch-22 the review represents. Given that marijuana has…

TuesdayOct 18, 2022 4:20 pm

420 with CNW — Could President Biden Overhaul America’s Cannabis Policy?

Last week, President Joseph Biden announced that individuals convicted of simple cannabis possession under federal law would be pardoned of their convictions. This proclamation thrust the country’s marijuana policy into the limelight, with the president also urging governors to pardon those convicted of the same under state law. At the moment, marijuana is classified as a Schedule I substance under the Controlled Substances Act. All substances classified under this schedule are thought to have a high potential for abuse and no currently accepted medical use. Other substances under this schedule include LSD and heroin. This classification is difficult to understand,…

TuesdayOct 18, 2022 4:20 am

420 with CNW — Governors Across the US Weigh in on Biden’s Call for Mass Marijuana Pardons

President Joseph Biden recently announced mass pardons for people convicted in federal courts on minor marijuana possession charges. While making that announcement, he called on governors across the nation to emulate the federal action and replicate the clemency at state level. His call to action has elicited mixed reactions, and we capture the highlights below. Colorado governor Jared Polis revealed that the U.S. president had finally decided to walk the road that Colorado took two years earlier. He said that the action taken by the president would remove any roadblocks that were in the lives of the people affected by…

MondayOct 17, 2022 4:20 pm

420 with CNW — Study Finds Federal Cannabis Prohibition Is Exposing Patients to Tainted Products

New research has found that the ongoing prohibition of cannabis at the federal level is getting between safe products and consumers. The research was conducted for one year by investigators at Arizona State University, led by Dr. Maxwell Leung. The objective of the research was to determine the prevalence of a range of contaminants in lab-tested marijuana. Currently, marijuana is still classified as a Schedule I substance under the Controlled Substances Act, which means that it isn’t subject to USDA or FDA regulations that are applied to legal products. This ongoing prohibition has left many states to work out how…