March 2022 - Page 7 of 7 - CannabisNewsWire

ThursdayMar 03, 2022 4:20 am

420 with CNW — Leafly Report Says US Cannabis Sector Employs About 500K

On Wednesday, Leafly released a new report showing almost half a million Americans worked full-time in the cannabis industry. Despite challenges related to the pandemic, figures from the report show that the industry is growing as states such as Connecticut, New Jersey and New York look to implement retail sales. Now in its sixth year of reporting, Leafly partnered with Whitney Economics, a firm that analyzes the cannabis economy. According to Leafly CEO Yoko Miyashita, the company’s operations filled the gap that has led to a lack of federal reporting. Moreover, the company also aims to advocate for social equity…

WednesdayMar 02, 2022 4:20 pm

420 with CNW — Supreme Court Requests Solicitor General for Brief on Medical Cannabis Worker’s Compensation Cases

The U.S. Supreme Court is requesting that the federal government give its opinion on whether federal law affords protections to employers that don’t cover medical cannabis costs for workers who have been injured on the job, even in states where its legal. State courts arrived at different conclusions on this during a discussion on cases concerning employees in Minnesota who sought worker’s compensation for medical marijuana expenses after they were hurt while on the job. This led the Supreme Court to request that the solicitor general weigh in on the matter, which is a significant development in cases that may…

WednesdayMar 02, 2022 9:15 am

InMed Pharmaceuticals Inc. (NASDAQ: INM) and BayMedica Rare Cannabinoids to Enter Market Q1 2022; Leveraging on Fast-Growing Global Health and Wellness Market

Over 140 rare cannabinoids exist in the cannabis plant – some with the potential to have more therapeutic benefits than those cannabinoids found prominently in the plant InMed and subsidiary BayMedica plan to release several rare cannabinoid products in the first half of 2022 Combination of complementary InMed and BayMedica business models key to increasing shareholders’ value In 2020, the global health and wellness market reached $4.436 trillion and is expected to grow at a CAGR of 5.5% from 2021 to 2030, resulting in an estimated value of $7.7 trillion by the end of the forecasted period (https://cnw.fm/hbx1E). The primary…

WednesdayMar 02, 2022 4:20 am

420 with CNW — NIDA to Fund Studies on Different Marijuana Regulation Models

Although many people consider cannabis to be a versatile alternative medicine, the reality is that there is barely any scientific research on its potential risks and benefits. Thanks to federal prohibition laws that consider cannabis a class I drug with no medical application, research into the plant has been outlawed for decades. However, there has been an increasing push for more cannabis research as more states legalize the plant for medical and recreational use. One of the country’s top federal agencies has thrown its weight behind this growing movement. The National Institute on Drug Abuse (“NIDA”) has increased its effort…

TuesdayMar 01, 2022 4:20 pm

420 with CNW — Pew Study Shows Increase in Drug-Related Arrests While Incarcerations Reduce

A new study from the Pew Charitable Trust reveals that police have continued arresting people for illegal substances despite states adopting policies designed to reduce the number of incarcerations. The report expounds on drug policy and enforcement trends that have been developed between 2009 and 2019. In the past decade, state and federal policies have changed with more prosecutors dropping marijuana cases. The study highlights some of the positive outcomes, which include low incarceration rates, reduced cannabis-related arrests and reduced racial differences in overall drug enforcement. However, despite all these efforts, arrests of drug possession still number more than a…

TuesdayMar 01, 2022 9:00 am

Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Now Controls All Aspects of its Michigan Operations Following PharmaCo’s Acquisition

RWB has received all regulatory approvals and closed its acquisition of PharmaCo, a Michigan-based marijuana company This acquisition opens RWB to over 22 properties, including dispensaries and cultivation sites, giving it complete control of all its operations, from cultivating the product to selling it It marks a key milestone for the company and its shareholders as it continues to execute key components of its growth strategy For the 2022 calendar year, the company looks to extend its branded product lines, update its dispensaries, create supply chain efficiencies, and grow revenue and profitability Red White & Bloom Brands (CSE: RWB) (OTCQX:…

TuesdayMar 01, 2022 4:20 am

420 with CNW — Advocate Informs Congress That Minority Marijuana Firms Need Federal Financial Assistance

During a House Financial Services Subcommittee hearing, Amber Littlejohn stated that minority-owned and small cannabis firms may not survive without federal relief. Littlejohn, the executive director of the Minority Cannabis Business Association, stated that supporting the SAFE Banking Act as well as other measures would make state-legal cannabis companies eligible for federal financial assistance from the Small Business Administration. The subcommittee hearing, which was held last week, discussed consumer protections and financial institutions. Littlejohn then explained that minority marijuana businesses would probably not survive long enough to see federal legalization, especially without some relief from Congress. She added that social…