August 2023 - Page 5 of 6 - CannabisNewsWire

TuesdayAug 08, 2023 4:20 pm

420 with CNW — Marijuana Companies Columbia Care, Cresco Labs Announce Termination of Proposed Merger

Marijuana producers Columbia Care Inc. and Cresco Labs have announced the termination of a $2 billion merger between the two companies. First announced in March 2022, the merger would have seen Cresco Labs buy Columbia Care for $2 billion in an historic deal that would have resulted in the largest marijuana producer in the country. Executives from Cresco noted at the time that the resulting company had the potential to be as large as Johnnie Walker or Coca-Cola and dominate the increasingly lucrative cannabis industry. The merger was a major bet on the growth and future of the cannabis industry.…

TuesdayAug 08, 2023 9:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Celebrates ‘Strategically Important’ New Patent Granted in the US

Lexaria recently celebrated the receipt of its 35th overall granted patent worldwide when the USPTO recently awarded US patent #11,700,875, titled “Compositions and Methods For Sublingual Delivery of Nicotine” The company described the new patent as “strategically important” The patent positions the company to tap into the growing oral nicotine market and offers protection in one of the world’s leading oral nicotine markets This patent could also lead to additional subsequent patents from within this family Lexaria’s DehydraTECH-nicotine formulation is patent granted for oral nicotine delivery in the US, Canada, and Australia When Lexaria Bioscience (NASDAQ: LEXX), a global innovator…

TuesdayAug 08, 2023 4:20 am

420 with CNW — Idaho Campaigners Continue Gathering Signatures to Put Cannabis on Next Year’s Ballot

In the border regions between Idaho and Oregon, there exist stark differences in cannabis legislation. While Oregon allows for the legal purchase of cannabis, Idaho stands as one of the few states that have yet to adopt any form of legalized cannabis. Amid this backdrop, an organization known as Kind Idaho is firmly devoted to championing cannabis's potential as a medicinal solution. Led by Joe Evans, the treasurer of Kind Idaho, the political action committee and nonprofit organization, founded in 2021, is unwaveringly committed to the cause of medical cannabis legalization. Evans clarifies that the group’s sole focus is on…

MondayAug 07, 2023 4:20 pm

420 with CNW — Concerns Raised as Massachusetts Announces Marijuana Testing Overseer

The background of Massachusetts' marijuana testing director has sparked concern among industry observers, who are already cautious about the state's treatment of marijuana companies. James Kocis assumed the role of director of testing on the state’s Cannabis Control Commission (CCC) in October 2022, following years of experience in the marijuana testing sector. During a recent legislative hearing, a lobbyist representing local testing labs criticized the CCC for being unaccountable and unpredictable. Additionally, a testing industry executive raised concerns about "a significant issue" of marijuana businesses seeking favorable lab results, questioning the wisdom of hiring a former lab employee to address…

MondayAug 07, 2023 4:20 am

420 with CNW — MasterCard’s Ban on Marijuana Transactions Shakes Industry

America’s state-legal marijuana industry has been left reeling after MasterCard banned the use of its debit cards in cannabis-related transactions. Players in the industry were left shocked after MasterCard demanded that payment processors and banks immediately cease marijuana transactions using the company’s debit card, sending an already fragile industry into chaos. Both medical marijuana and recreational cannabis retailers and their customers will undoubtedly be affected by the ban, with retailers likely being forced to go back to cash-only transactions. Marijuana’s illegal status at the federal level comes with several major limitations, chief of them being that cannabis businesses have little…

FridayAug 04, 2023 4:20 pm

420 with CNW — Washington State Announces Online Portal to Process Reimbursements for Illegal Drug Prosecutions

Washington State recently announced an online portal aimed at facilitating the payment of legal fees for those who were charged with crimes under drug criminalization statutes that were later ruled illegal by the state Supreme Court in 2021. The newly established Blake Refund Bureau website, initiated by the state AOC, is a collaborative effort involving public defenders, courts, advocates, prosecutors, county clerks and other stakeholders. The site’s primary objective is to provide relief to those impacted by the shortcomings in the state's drug possession charges penal code. The court determined that the existing statutes may potentially criminalize accidental possession because…

FridayAug 04, 2023 9:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Incorporates New Subsidiary, Lexaria Nutraceutical Corp., for Non-Pharmaceutical, Non-Nicotine, and Non-Cannabis DehydraTECH(TM) Formulations

Lexaria Nutraceutical Corp. will keep Lexaria’s overall strategy of maximizing the company’s patented DehydraTECH(TM) technology in various markets, excluding pharmaceutical, nicotine, and cannabis molecules Lexaria Pharmaceutical Corp.’s licensing was amended so as to solely focus on pharmaceutical formulations excluding nicotine Lexaria announced in early May that its nicotine trial, NIC-H22-1, had completed dosing with results expected in the near future NIC-H22-1 is anticipated to intercede the oral nicotine pouch market, which had a global value of $2.33 billion in 2020, and is expected to grow to $21.84 billion by 2027 Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug…

FridayAug 04, 2023 4:20 am

420 with CNW — Congressional Committee Leaders Call for Expert Guidance Regarding CBD Regulation

Bipartisan congressional committee leaders are calling on experts to offer guidance on best practices for building a framework to regulate America’s CBD industry. This call comes amid increased pressure on the U.S. Food and Drug Administration to start regulating the nearly five-year-old industry that was built on the passage of the 2018 Farm Bill. The Farm Bill legalized the cultivation and sale of industrial hemp, which it defined as cannabis with less than 0.3% THC, and its derivatives under state or tribal programs. This led to the birth of the CBD industry, a sector that quickly began making millions on…

ThursdayAug 03, 2023 4:20 pm

420 with CNW — Florida Gives Black Farmers Medical Cannabis Licenses Under Newly Enacted Law

The state of Florida has awarded medical cannabis business licenses to two Black farmers under a bill that was signed into law last month. Governor Ron DeSantis signed Bill HB 387 into law in late June, finally giving members of the Black farming community a chance to enter the state’s mammoth medical marijuana industry. The legislation was originally written to allow eligible doctors to use telehealth to renew medical cannabis patient licenses but was later amended to include language that would address the issue of providing Black farmers with Medical Marijuana Treatment Center (MMTC) licenses. These farmers had been part…

ThursdayAug 03, 2023 4:20 am

420 with CNW — DOJ Wants Federal Court to Throw Out Case on Overdose Prevention Sites

The Biden administration has consistently expressed its commitment to approaching the overdose crisis through harm-reduction measures. One key aspect that advocates have been closely monitoring is whether this approach would extend to the authorization of safe consumption sites, where individuals can use illicit substances under medical supervision. However, activists received disappointing news as the Justice Department has decided to reject legal arguments advocating for possible exceptions to the federal ban on such facilities. Subsequently, they are seeking to dismiss a long-standing lawsuit that could have enabled the opening of a safe drug consumption facility in Philadelphia known as Safehouse, which…

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Month: August 2023