February 2021 - Page 5 of 7 - CannabisNewsWire

TuesdayFeb 09, 2021 4:20 pm

420 with CNW — Jazz Pharmaceuticals (NASDAQ: JAZZ) to Acquire GW Pharmaceuticals (NASDAQ: GWPH) for $7.2 Billion

Jazz Pharmaceuticals (NASDAQ: JAZZ), a global pharmaceutical company, has come to an agreement to acquire GW Pharmaceuticals (NASDAQ: GWPH) for $7.2 billion in stock and cash. GW Pharmaceuticals, which is based in the United Kingdom, is one of the biggest medical cannabinoid businesses globally. This buy would be the biggest move made by a pharmaceutical firm into cannabis to date, which demonstrates that pharma companies recognize both the future and current potential of cannabinoid-based treatments. This move into cannabis could also encourage more investments into the growing field. Additionally, the deal establishes the validity of GW Pharmaceuticals’ focus on developing…

TuesdayFeb 09, 2021 2:37 pm

Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) Private Placement to Raise Funds for Continued Successful Operations

PACR private placement comprised of 8,333,333 units for possible gross proceeds of $1.5 million Funding to support Company’s continued progress in current, potential efforts An example of Pac Roots projects includes JV with Rock Creek Farms, which resulted in profitable first harvest that delivered 200% ROI Pac Roots Cannabis (CSE: PACR) (OTCQB: PACRF) has announced a non-brokered private placement (https://cnw.fm/9VKYf) to strengthen its financial position as it focuses on the future of genetics and its commitment to quality over quantity. Headquartered in Canada, Pac Roots is dedicated to producing premium-quality strains and products by leveraging a genetics-focused approach. The announcement of the private placement…

TuesdayFeb 09, 2021 4:20 am

420 with CNW — NJ Lawmakers Approve Cannabis Legalization Bill Addressing Governor’s Concerns

On the November ballot, voters in New Jersey approved a referendum to legalize marijuana, joining the growing number of states that allow cannabis. Shortly after the vote, the legislature introduced and passed enabling legislation that would create a regulated cannabis market. However, after lawmakers passed the legislation, New Jersey Gov. Phil Murphy revealed that he wasn’t a fan of the lack of penalties for underage possession. To put his fears at ease, lawmakers tried to pass a bill addressing the issue of youth possession, but after key legislators pulled their support, a floor vote was canceled. This past week, however,…

MondayFeb 08, 2021 4:20 pm

420 with CNW — CBD May Be the Remedy for Gonorrhea and Other Bacterial Diseases

A report from a team of researchers from the University of Australia, published in “Nature,” has demonstrated how synthetic cannabidiol (“CBD”) can eliminate various bacteria responsible for ailments such as Legionnaires’ disease, meningitis and gonorrhea. The report suggests that CBD could bring about a class of new antibiotics for resistant bacteria in a few decades to come. The researchers tested CBD’s antimicrobial activity using lab models to imitate a two-week patient treatment. This would enable the researchers to observe how rapidly the bacteria mutated to try to outmaneuver cannabidiol’s power to eliminate them. The study’s abstract reported that the researchers…

MondayFeb 08, 2021 12:36 pm

2021 Strategic Plan Showcases API Potential of XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT)

XPhyto Therapeutics Corp. is a life sciences technology accelerator involved in the development of new pharmaceuticals, diagnostic products and psychedelic investments XPhyto is preparing a series of clinical pilot studies for four drug candidates this year that could help in treating Parkinson’s disease, epilepsy, anorexia and other neurological conditions The company has developed a rapid and highly portable PCR test kit it expects to commercialize this year to provide point-of-care diagnostics, designed for satellite labs to quickly screen for the COVID-19 virus Wholly owned subsidiary Vektor, a German drug maker and researcher, plans to build a new commercial drug manufacturing…

MondayFeb 08, 2021 4:20 am

420 with CNW — Why New Jersey Legislators Are Unwilling to Allow Patients to Grow Medical Cannabis

New Jersey legislators are currently in the process of finalizing the details of the state’s marijuana decriminalization and legalization policies. While the S3550 bill has lessened the penalties for individuals found carrying less than six ounces of marijuana, it still forbids any person from having the intent to distribute or the distribution and possession of a controlled and dangerous substance. The bill does not touch on marijuana home-cultivation, which remains criminalized. This is despite poll data from a Rutgers University 2018 poll, showing that 60% of voters in the state disagreed with a prohibition that forbade residents from cultivating their…

FridayFeb 05, 2021 4:20 pm

420 with CNW — North Carolina Cherokee Consider Medical Cannabis Legalization

The past few years have seen a surge in popularity for cannabis, with more than 30 U.S. states legalizing either medical or recreational marijuana. The shift in attitudes toward cannabis hasn’t been confined to just states. The Eastern Band of Cherokee Indians in North Carolina is preparing to explore what medical cannabis legalization would look like on the Qualla Boundary. As part of a broader legalization effort, the Tribal Council will this month discuss a plan to legalize medical marijuana. Jeremy Wilson, who formerly served on the Tribal Council in addition to working as a government affairs liaison under the…

FridayFeb 05, 2021 4:20 am

420 with CNW — Democratic Senate Leaders Publicize Plan to Legalize Cannabis Federally in 2021

Earlier this week, three leading advocates of cannabis reform stated that reform would be a priority in the new Democratic Senate in 2021, adding that they planned to release draft bills in the coming weeks to start a conversation about what federal policy changes would be made. In a joint statement, Sen. Cory Booker, Senate Committee Chairman Ron Wyden and Senate Majority Leader Chuck Schumer stated that putting an end to marijuana prohibition was necessary in order to end years of harm inflicted on people and communities of color across the nation as well as right the wrongs of the…

ThursdayFeb 04, 2021 4:20 pm

420 with CNW — Colorado Premium Cannabis Flower Causes Prices to Soar to Record Highs

For Colorado’s cannabis industry, 2020 was a boom year. While other sectors saw their operations severely cut down amid lockdown and self-distancing orders, Colorado categorized cannabis as essential, allowing marijuana businesses to continue selling with coronavirus-related measures in place. Even before transactions for November had been tallied, the state had hit $2 billion in medical and recreational cannabis sales. These record-breaking sales can partly be attributed to record high, wholesale, cannabis-bud (flower) prices that in 2020 increased to levels unseen since 2016. According to the Colorado Department of Revenue, the average market price by wholesalers for a pound of marijuana…

ThursdayFeb 04, 2021 12:10 pm

CBD Market Steadiness Buoys HempFusion Wellness Inc. (TSX: CBD.U) (OTC: CBDHF) Hopes as TSX Launch Completed

Health and wellness company HempFusion Wellness, Inc. launched its IPO Jan. 6 with the ticker CBD.U, and also trades in the US under the symbol CBDHF The company distributes its brands HempFusion, Probulin Probiotics, Biome Research and HF Labs to 4,000 retailers in every state as well as select international locales, and is strategically planning for expansion Despite the economic battering some industries have experienced as a result of the global pandemic, hemp and CBD continue to see consumer use trends holding stable with forecasts for new market growth in coming years HempFusion is focused on regulatory compliance with industry…

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Month: February 2021