December 2023 - Page 3 of 5 - CannabisNewsWire

MondayDec 18, 2023 4:20 am

420 with CNW — AG Releases Ballot Explanation for Measure to Legalize Cannabis in South Dakota at the Polls

Last week, South Dakota’s attorney general released a ballot explanation for a prospective initiative that would legalize adult-use cannabis in the state and allow dispensaries to serve individuals aged 21 years of age and older. The resolution, which was sponsored by Emmett Reistroffer, would permit anyone aged 21 and older to cultivate, possess, ingest and distribute cannabis or cannabis paraphernalia. Reistroffer is the operations director at Genesis Farms, a medical marijuana company. Under the measure, adults could also grow no more than 6 marijuana plants, with not more than 12 plants in every household; the can also possess up to…

FridayDec 15, 2023 4:20 pm

420 with CNW — Ohio GOP Lawmakers Propose Banning Cannabis Home Grow in Major Changes to Measure

Republican lawmakers from Ohio are proposing a slew of amendments that would cause significant changes to the state’s voter-approved cannabis legalization measure. With the new legislation taking effect last Thursday, GOP lawmakers are looking to implement changes such as banning home-cannabis cultivation, increasing cannabis taxes and adjusting how the state distributes marijuana taxes. Titled Issue 2, the recreational cannabis legalization measure was passed by Ohio voters last month and is subject to amendments by the legislature. The measure is currently in committee and has already been subject to many attempted changes. This includes a proposal to ban voter-approved home-cultivation provisions…

FridayDec 15, 2023 4:20 am

420 with CNW — Governors Ask President Biden to Reschedule Cannabis

A collective appeal has been made by six state governors to President Joe Biden, urging him to facilitate the rescheduling of cannabis by year's end. The letter, jointly signed by the governors of New York, Colorado, New Jersey, Illinois, Maryland and Louisiana, stresses the economic and fiscal advantages that would accrue to marijuana businesses if rescheduling occurs. Currently classified as a Schedule I substance under the CSA, cannabis is federally considered a hazardous substance. Reclassifying it to Schedule III designates it as a lower-risk substance and would provide increased protection to the existing state-level cannabis industry and its consumers, benefiting…

ThursdayDec 14, 2023 4:20 pm

420 with CNW — Japan Passes Bill Authorizing Cannabis-Based Medicines in Landmark Drug Policy Reversal

Japan recently approved a measure that would legalize cannabis-based drugs. The country, which has strict drug laws, plans to lift a ban on medical products derived from marijuana. These drugs, which are produced with CBD, are already used in some countries to manage conditions such as epilepsy. CBD, or cannabidiol in full, is one of the two primary compounds found in marijuana. The other compound, tetrahydrocannabinol (THC), is known to induce a high when ingested. This move by Japan is a win for groups that have championed for access to these drugs. The country’s Cannabis Control Act was introduced during…

ThursdayDec 14, 2023 4:20 am

420 with CNW — Cultivation, Possession of Cannabis is Now Legal, But Ohioans Have Nowhere to Purchase It

Recreational marijuana sales in Ohio remain in a state of uncertainty following a recent development that permits adults to cultivate and possess marijuana at home but restricts them from legally purchasing it. This week, Republican Governor Mike DeWine asked lawmakers to establish guidelines for Issue 2, the citizen initiative approved by voters in November, in an attempt to beat the law’s effective date. The state’s House declined to take up the matter despite the Senate’s successful last-minute agreement shortly before the statute went into effect. Representative Jamie Callender clarified that there is no specific deadline for putting in place a…

WednesdayDec 13, 2023 4:20 pm

420 with CNW — New Poll Says 67% of Voters in Florida Back Recreational Cannabis Legalization

More than 700 residents in the state of Florida were polled by UNF Public Opinion Research Lab in a recent survey. This survey comes after the state’s Supreme Court heard arguments over the resolution to allow an amendment that would restrict purchases to three ounces of cannabis on the 2024 ballot. From the poll, 67% of registered voters would support a state constitutional amendment that permitted adults to buy and possess cannabis for personal use. Additionally, 28% were against an amendment that would allow recreational marijuana to be legalized without a license while 5% were undecided on the matter. While…

WednesdayDec 13, 2023 9:45 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Eyes Additional Revenue Opportunities for 2024; Continues to Generate New Data for its DehydraTECH Technology

Lexaria, a global innovator in drug delivery platforms, is projected by Zacks SCR to be valued at $10 a share, up from the current $1.50 for 2024 Zacks SCR projects a 259% YOY revenue growth for 2024 and a 20% growth for 2025, dependent upon the ultimate approval and commercialization of products employing its patented DehydraTECH(TM) technology Lexaria also anticipates FDA approval for its IND application and commence its Phase 1b hypertension clinical trial, all in 2024 Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has had significant developments in 2023. Most notably, the company has seen…

WednesdayDec 13, 2023 4:20 am

420 with CNW — Germany Pushes Vote on Legalization Measure to Next Year

The anticipated final vote on the legalization of cannabis in Germany, initially scheduled for this week, has been postponed due to concerns raised by leaders of the Social Democratic Party (SPD). SPDP member Dirk Heidenblut, who is in charge of the party’s marijuana policy in the Bundestag, stated in an Instagram post that parliamentary group consent is essential and that a vote cannot move forward if a faction leader, in this case the SPD, expresses concerns. Despite the delay, Heidenblut reassured that as long as the measure progresses by the end of January, it should not significantly impact the timeline…

TuesdayDec 12, 2023 4:20 pm

420 with CNW — Rescheduling Cannabis Would Free Some Marijuana Companies from Section 280E

Earlier this year, the Department of Health and Human Services recommended that cannabis be moved to Schedule III of the Controlled Substances Act. This recommendation is currently being reviewed by the U.S. Drug Enforcement Agency (DEA). In the event that marijuana is reclassified, cannabis companies will no longer be affected by Section 280E of the IRS code. Section 280E specifically forbids any business linked to the trafficking of substances classified under Schedule I or II from deducting business expenses from their federal tax returns. Surprisingly, however, the cost of goods sold, whether it’s drugs or other products, is still an…

TuesdayDec 12, 2023 4:20 am

420 with CNW — Federal Study Finds That Prohibitionist States See More Hospital Admissions for Cannabis Use Disorder

Despite concerns voiced by critics regarding the potential surge in problematic cannabis use following legalization, recently released federal data from the Substance Abuse and Mental Health Services Administration (SAMHSA) reveals a different narrative. The SAMHSA analysis, which covered 2021 and was released last week, showed that the states with the greatest rates of treatment admissions for cannabis were those where sales of the drug were still illegal. The data showed that admissions to substance-use treatment services at state-licensed facilities for people aged 12 year of age and older totaled approximately 1.5 million countrywide. According to the Treatment Episode Data Set…

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Month: December 2023