October 2022 - Page 6 of 7 - CannabisNewsWire

FridayOct 07, 2022 4:20 am

420 with CNW — USDA Report Highlights Environmental, Economic Benefits of Hemp as EU Market Grows

In August, the U.S. Department of Agriculture released a report on the hemp industry boom in the European Union. The report recognized that hemp was an important commodity that could aid the European Union in achieving its climate-related objectives. The report also discusses how the cannabis crop has been cultivated and utilized in the region for millennia and how products from the crop are now increasing in popularity, as more nations enact decriminalization reforms. The report states that since the Middle Age, all parts of the hemp plant were consumed in European nations, including its flowers, leaves and seeds as…

ThursdayOct 06, 2022 4:20 pm

420 with CNW — Kentucky Governor Releases Report from Committee Studying Medical Cannabis Legalization

A recent report has revealed that Kentuckians overwhelmingly support legalizing cannabis for medical use. Although more than 30 states now have legal medical marijuana markets, Kentucky is one of the few territories that still outlaws the cultivation and possession of cannabis. However, efforts to legalize medical cannabis in the state have been underway for some time, with Kentucky Governor Andy Beshear forming a medical marijuana advisory committee in June to advise him on how to increase patient access to the plant. In a press release at the time, Beshear said that polling suggested a majority of Kentucky adults were in…

ThursdayOct 06, 2022 9:45 am

REZYFi, Inc. Addressing the Financial Needs of the ‘Largest Underbanked Industry’ in the US

REZYFi, Inc. is a real estate-oriented mortgage company servicing the needs of both traditional and non-traditional consumers and businesses The company operates through its two subsidiaries, REZYFi Lending, which is now focused on cannabis commercial real estate lending, and ResMac, Inc., a traditional mortgage origination, correspondent, and servicing business REZYFi seeks to provide access to financial services to the cannabis industry, which is still largely underserved because large financial companies have continuously shied away due to the illegality of cannabis at the federal level The US cannabis industry is expected to generate $52.6 billion in sales by 2026, up from…

ThursdayOct 06, 2022 4:20 am

420 with CNW — Study Says Medical Cannabis Helps Patients Use Fewer Opioids

After decades of prohibition, 37 states now allow their citizens to use cannabis for medical purposes. Research has found that the plant is capable of alleviating a variety of medical conditions with few side effects. As a result, millions of people across America have begun using cannabis to treat conditions such as anxiety, insomnia and chronic pain. The surge in cannabis popularity began as people became more aware of the risks associated with opioid use. Although opioids have proven to be instrumental in treating chronic pain conditions, their side effects can be quite severe, ranging from nausea, vomiting and constipation…

WednesdayOct 05, 2022 4:20 pm

420 with CNW — Illinois Cannabis Regulators Decry Lack of Diversity, Plan Next Moves

Earlier last week, regulators in the state of Illinois released a report highlighting a lack of diversity among business owners in its recreational cannabis market. The report, the 2022 Annual Cannabis Report, also outlined a plan that would rectify this issue in the coming fiscal year, as the adult-use industry in the state is set to expand with 190 new social-equity businesses launching. The report also discussed the next steps for cannabis business licensing, noting that regulators would help level the playing field. The state’s Department of Financial and Professional Regulations stressed that Illinois had faced criticism from advocates over…

WednesdayOct 05, 2022 4:20 am

420 with CNW — Study Finds That Cannabis Legalization Reduces Obesity Rates

A new study has found that the legalization of adult-use cannabis is linked to reduced levels of obesity. This is surprising because marijuana is said to be an appetite stimulator. The study was conducted by researchers at North Dakota State University, the Metropolitan State University of Denver and the Center for the Study of Public Choice and Private Enterprise. The researchers conducted an analysis of obesity data in the state of Washington, which was one of the first states in the country to legalize adult-use cannabis. The researchers stated that despite the munchies factor and overall obesity concerns, the relationship…

TuesdayOct 04, 2022 4:20 pm

420 with CNW — Medical Cannabis Sales in Ohio Hit $1B Milestone

Although only 19 states have legalized recreational cannabis compared to the more than 30 states with legal medical cannabis markets, recreational cannabis sales have routinely breached the billion-dollar milestone. Demand for adult-use cannabis has been so high that states have been able to earn billions in taxes alone from cannabis sales. Data from Ohio shows that the medical cannabis segment has just as much commercial potential. The state launched medical cannabis sales in April 2019 and has sold $1 billion worth of medical use cannabis in the last three years. Figures posted by the Ohio Medical Marijuana Control Program show…

TuesdayOct 04, 2022 10:30 am

Flora Growth Corp. (NASDAQ: FLGC) Expands Global Distribution Network to Three Industry-Leading Countries; Wins Award for Best M&A Deal at the 2022 Benzinga Cannabis Capital Conference

Flora just announced the first successful export of Colombian high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate to the United States Luis Merchan, the company’s CEO, has described this as a “major milestone,” one that further defines the company’s revenue pipeline He pointed out the increasing demand for Flora’s high-quality, high-margin flower and derivatives from its cultivation operation in Colombia, terming it as a testament to the Flora team’s ability to execute in a very complex global regulatory environment Flora also earned the Best M&A Deal award at Benzinga’s 2022 Cannabis Capital Conference…

TuesdayOct 04, 2022 9:45 am

Sugarmade Inc. (SGMD) Positioning Itself in Space Seeing Growing Government Support

More than a dozen cannabis reform bills were passed by the California legislature during the summer Governor Newsom signed 10 of the bills SGMD is focused on strengthening its presence in a variety of spaces, including cannabis As the California legislature ended its session last month, more than a dozen cannabis reform bills were approved and sent to Governor Gavin Newsom for his consideration (https://cnw.fm/mCyUU); ultimately, the governor signed 10 of them (https://cnw.fm/CHabl). The show of government support for cannabis in the state bodes well for California cannabis companies, including Sugarmade (OTC: SGMD), a product and branding marketing company investing…

TuesdayOct 04, 2022 4:20 am

420 with CNW — Medical Marijuana Firm Wants Court to Allow Selling Cannabis Edibles on Open Market

Edibles have been giving cannabis flower a run for its money in recent years. As people became more conscious of the health effects of smoking, the demand for a safer, more discreet means to consume cannabis grew exponentially. Edibles fill that niche neatly by allowing users to consume cannabis in a safe and discreet way. Furthermore, edibles also allow for more precise dosing, making it easier for newbies to try cannabis without getting overwhelmed the first time. This precise dosing capability make edibles particularly suited for medical applications. In Minnesota, a medical marijuana company called Vireo Health is fighting for…