November 2022 - Page 3 of 7 - CannabisNewsWire

FridayNov 18, 2022 4:20 pm

420 with CNW — How Would the Passage of SAFE Banking Impact Marijuana-Specific Finance Companies?

As marijuana legalization spreads across the United States, many companies have worked to address the industry-specific challenges that operators faced, particularly with regard to access to financial services, insurance, legal, compliance and regulatory issues as well as the security challenges created by the cash-only operations of many marijuana companies. There is speculation and hope that the SAFE Banking Act, or another version of this law, could be passed in this coming lame duck session of Congress. How will such a law impact the companies that stepped in to serve cannabis businesses? Some in the industry, including Tyler Beurlein, who works…

FridayNov 18, 2022 4:20 am

420 with CNW — NJ Governor Teams Up with Cannabis Firms to Discourage Consuming Black Market Marijuana

The past two decades have seen dozens of American states legalize cannabis for medical and recreational purposes. Cannabis has since proven to be one of the fastest-growing industries in the country, generating billions of dollars in sales and creating hundreds of thousands of new employment opportunities. However, even though the United States is now home to thousands of legal cannabis businesses, the illicit marijuana market still thrives. Data shows that in 2019 black market sellers sold around $8.7 billion worth of cannabis in California, the country’s largest marijuana market compared to $3.1 billion worth of legal sales. Illegal cannabis cultivation…

ThursdayNov 17, 2022 4:20 pm

420 with CNW — Voters in California Approve 12 Measures Expanding Marijuana Retail

During the recently concluded midterm elections, marijuana measures were on the ballot in nearly two dozen California localities seeking to permit recreational sales to commence in those jurisdictions. A dozen of those measures got voter approval, and an analysis of each locality reveals interesting factors that seemed to have played a role in determining the ballot outcome. For example, most coastal cities are described by marijuana advocates as “cannabis deserts” because retail sales aren’t permitted there. It should be noted that these locations are populated by the affluent, and this demographic seems uncomfortable having retail stores in their backyard. However,…

ThursdayNov 17, 2022 9:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Approved to Proceed with Human Study Evaluating Effectiveness of Patented DehydraTECH(TM) Technology in Boosting Oral-Tissue Absorption of Nicotine

Lexaria Bioscience recently received Independent Review Board approval for its upcoming human clinical nicotine study, NIC-H22-1, and expects to begin dosing soon The company hopes to evidence that processing purified nicotine with its patented DehydraTECH(TM) drug delivery technology leads to better oral-tissue absorption and reduced negative experiences compared to leading brands currently available on the market, On! and Zyn Last year, Lexaria conducted an animal study evaluating oral nicotine absorption, NIC-A21-1, in which it evidenced that its DehydraTECH technology was ten to twenty times faster in delivering comparable levels of nicotine into the bloodstream than the peak of the concentration-matched…

ThursdayNov 17, 2022 4:20 am

420 with CNW — Congressional Subcommittee to Hold Marijuana Hearing Soon After Midterms

Drug, racial and social-justice activists will be happy to know that House lawmakers will be discussing marijuana reform once the midterm elections draw to a close. Although the Biden administration was quick to act on its green-energy and electrification promises, there were plenty of valid complaints regarding the administration’s lack of action regarding cannabis reform. President Joseph Biden recently made waves across the country when he announced that his administration was taking steps to begin pardoning all Americans who had simple cannabis possession offenses on their records. With the midterm elections drawing to a close as final seat winners are…

WednesdayNov 16, 2022 4:20 pm

420 with CNW — Colorado’s Amendment 64 a Decade Later

It has been 10 years since Amendment 64, which legalized adult-use marijuana in Colorado, was passed and implemented. The proposed constitutional amendment had a number of arguments in support of legalizing marijuana, and we shine the spotlight on some of those arguments to see to what extent they have been vindicated. One major argument was that by legalizing recreational marijuana, adults who wish to use the substance would purchase it from regulated sources that are licensed and have quality standards to adhere to, unlike marijuana sourced from underground sources that aren’t subject to any regulation. Teen use would also be…

WednesdayNov 16, 2022 4:20 am

420 with CNW — Reelected Wisconsin Governor Promises to Include Marijuana Legalization in Budget Proposals

Governor Tony Evers (D), who has just been reelected as the governor of Wisconsin, has promised to include marijuana policy reform in his budget proposals due early in 2023. This pledge comes after Wisconsin voters in a number of counties and cities approved nonbinding questions in the midterm polls supporting the establishment of a legal marijuana market in the state. Speaking during a press conference after his reelection, Evers said his 2023–25 budget plan will contain provisions on marijuana legalization and that it was something that lawmakers needed to discuss and find a way forward. He added that sooner or…

TuesdayNov 15, 2022 4:20 pm

420 with CNW — 130-Plus NGOs Demand That Immigrants Be Included in Biden’s Cannabis Pardons

President Joseph Biden made plenty of promises while on the campaign trail, including his pledge to offer marijuana pardons. One of his more progressive statements, the promise was met with praise from drug reform activists across the country. Last month, President Biden announced that he was taking steps to pardon everyone who had been federally convicted of simple marijuana possession offenses. The announcement was met with surprise as the Biden administration has been largely silent on cannabis reform despite Biden’s campaign promises. Biden also instructed governors to issue similar pardons at the state level and stated that he would initiate…

TuesdayNov 15, 2022 4:20 am

420 with CNW — Federal Judge Dismisses Suit Challenging Ban on Gun Rights for Medical Cannabis Patients

There are an estimated 3.6 million registered medical cannabis patients in the United States with slightly more than 700,000 residing in the state of Florida. But, despite the fact that dozens of states have legalized medical marijuana and launched legal markets, the drug is still illegal at the federal level. This often leads to situations where businesses and customers abiding by state law are penalized by the federal government, which still considers cannabis to be illegal. One major example is the fact that cannabis businesses cannot access banking and financial services despite paying billions of dollars in taxes. On the…

MondayNov 14, 2022 4:20 pm

420 with CNW — Marijuana Consumers Opt for Concentrates as Product Prices Drop

Marijuana industry watchers as well as retail buyers indicate that cannabis concentrates are registering more sales across the industry, particularly in mature markets. Frequent marijuana users are also taking a greater liking to concentrates. Brightfield Group, a Chicago-based cannabis analytics firm, says approximately 29% of all marijuana consumers admit that they have used cannabis concentrates at least once during the past half year. Two years prior, that figure stood at 22%. Bethany Gomez, the managing director of Brightfield Group, says such a jump is significant in a space of only two years. Mature cannabis markets also registered an even bigger…

News and publishing service for cannabis related companies

Contact us: 512.354.7000

Month: November 2022