May 2024 - Page 4 of 6 - CannabisNewsWire

MondayMay 13, 2024 12:45 pm

Illinois Cannabis Convention & Expo to Attract the Biggest Traders in the Cannabis Spectrum

The NECANN Illinois Cannabis Convention 7 Expo is being held May 31 – June 1, 2024, at the Schaumburg Convention Center, Chicago, IL. One of the biggest cannabis B2B conventions in the country, the event will witness prominent growers, traders, enthusiasts, patients, educators, dealers, and top industry leaders. Newcomers as well as seasoned businesses can showcase their products or unique ideas at the exhibitor booths to gain visibility among the top investors, industries, and traders in the cannabis industry. The exhibitor booths significantly attract the crowds as they have fresh and innovative items on display. Operating since 2014, NECANN events…

MondayMay 13, 2024 10:00 am

Canadian Medical Marijuana Exports Rise Amid Falling Local Sales

According to statistics from Health Canada, the regulator of the marijuana industry in Canada, exports of medical marijuana from the country have reached a record-setting $189 million as local producers grapple with numerous domestic challenges ranging from prohibitive taxes to cutthroat competition on the domestic market. The current value of exports for the year ended March 2024 marked a 36% increase from exports registered last year ($116.5 million). This notable increase in exports follows a growing trend that saw the country export medical marijuana products worth $5.8 million in the 2019–2020 fiscal year, $28.4 million in 2020–2021 fiscal year and…

FridayMay 10, 2024 4:20 pm

420 with CNW — Reports Confirm DEA Is Close to Reclassifying Marijuana

The U.S. Drug Enforcement Administration (DEA) is set to change the classification of cannabis. The proposal, pending review by the White House Office of Management and Budget (OMB), acknowledges marijuana’s medical potential and implies that it is less prone to abuse compared to other certain drugs. However, it does not advocate for the complete legalization of marijuana for recreational purposes. The move, disclosed by anonymous sources familiar with the matter, signals a major policy change for the DEA and a shift in U.S. drug policy. Once approved, the agency will invite public feedback on moving cannabis from Schedule I to…

FridayMay 10, 2024 10:00 am

Defense Lawyers Group Urges Biden to Release Prisoners Serving Marijuana Sentences

NACDL, the National Association of Criminal Defense Lawyers, has written a letter to the White House urging President Joseph Biden and his administration to decriminalize cannabis and also commute all sentences of individuals in prison over federal cannabis convictions. In their letter, the association says it is advocating for compassionate release, second chances and the immediate commuting of sentences of those having convictions for nonviolent cannabis offenses. The letter written by NACDL was sent on the same day last week when the U.S. Drug Enforcement Administration (DEA) is reported to have made a decision to reclassify marijuana to Schedule III…

ThursdayMay 09, 2024 4:20 pm

420 with CNW — Study Finds Frequent Cannabis Use Doesn’t Cause Paranoia, Lower Motivation

Recent research on the effects of regular marijuana usage disproves popular perceptions about the drug by showing no connection between habitual users’ decreased motivation or paranoia. The study found no indication of a marijuana-induced hangover the following day. One of the unexpected results was that long-term users did not exhibit a decline in desire or effort-exertion willingness, either due to internal or external factors. In fact, consumers who used the product more frequently claimed to be more motivated and to have experienced more negative emotions and impulsivity. The study highlights both expected and unexpected results, challenging misconceptions surrounding cannabis’ effects.…

ThursdayMay 09, 2024 12:00 pm

CannaCon West Albuquerque to Unite the Southwest Cannabis Industry

Traders, cannabis stakeholders, license holders, physicians, patients, regulatory authorities, entrepreneurs, capital investors, public officials, and enthusiasts, are invited to attend the CannaCon West Albuquerque at the Albuquerque Convention Center on May 17-18, 2024. The event focuses on bringing together all participants in the cannabis industry for two days of intense exploration, interaction, learning, and collaboration. As Albuquerque is witnessing an evolving cannabis industry, this event provides a phenomenal platform for cannabis veterans and newcomers to build a solid new industry. The CannaCon West Albuquerque is engaged in boosting the West’s cannabis industry. The Albuquerque network consists of like-minded cannabis businesses…

ThursdayMay 09, 2024 9:45 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Set to Extend Operational Runway to 2025 Following Warrant Exercise and Issuance

Lexaria has entered an agreement wherein an existing accredited investor has exercised all their warrants to purchase shares The company has received $4.7 million from this undertaking, prior to deducting estimated offering expenses Proceeds fully fund Lexaria’s entire planned 2024 GLP-1 R&D program, leaving additional excess capital for general purposes Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced its entry into a warrant exercise agreement with an existing accredited investor to exercise in full certain existing warrants initially issued in October 2023 and February 2024. The warrants will be exercised at $0.97 and $2.185 per…

WednesdayMay 08, 2024 4:20 pm

420 with CNW — US Cannabis Companies Could Soon Access Bankruptcy Protection

U.S. cannabis businesses undergoing distress often face hurdles in seeking bankruptcy protection, a common challenge in an industry prone to business downturns. However, there’s a glimmer of hope on the horizon with potential federal rescheduling of cannabis and shifting perspectives evident in recent bankruptcy cases. Duane Morris Law firm associate, Ryan Spengler, expressed cautious optimism, noting that advancements in court rulings coupled with potential rescheduling may pave the way for new bankruptcy avenues for U.S. marijuana businesses. He stated that even before federal rescheduling, if bankruptcy courts begin to show leniency towards marijuana-related companies, it could signal a positive trend…

WednesdayMay 08, 2024 10:30 am

Zoned Properties Inc. (ZDPY) Emerges as a Crucial Partner for the Cannabis Industry; Announced Planned $1 Million Share Buyback

Cannabis retail dispensaries in Arizona have grown to upwards of 168 locations as of January 2024 Nonetheless, only 1% of Arizona’s commercial properties are eligible for use by the cannabis industry Zoned Properties has been a key partner for the industry in helping cannabis companies establish a physical retail presence The company has recently announced the approval of a $1 million share buyback plan The legalized sale of recreational cannabis in Arizona has grown from strength to strength. Possession and cultivation of cannabis across the state became legal on November 30, 2020, with the state-licensed sale of recreational cannabis commencing…

WednesdayMay 08, 2024 10:00 am

Marijuana Reclassification Unlikely to Change Anything for Federal Workers

Steps to change marijuana’s classification at the federal level in America have been initiated by both Congress and the Biden Administration in the last year. On his part, President Joseph Biden directed that a review of federal cannabis law be conducted, and he pardoned thousands who had been federally convicted of simple possession of cannabis. Currently, marijuana is classified under Schedule I of the Controlled Substances Act. Substances under this classification are said to have no accepted medical use and high abuse potential. Other drugs under this classification include LSD, heroin, MDMA, methaqualone and mescaline (peyote). Following a recommendation by…