July 2023 - Page 3 of 5 - CannabisNewsWire

WednesdayJul 19, 2023 4:20 pm

420 with CNW — Massachusetts Recreational Cannabis Sales Hit New Monthly Record

Ever since its inception, America’s state-level cannabis industry has been a major revenue earner for both business owners and states. According to data from the Cannabis Control Commission (CCC), cannabis retailers in Massachusetts sold almost $152 million worth of recreational cannabis last month, making June the most lucrative month in terms of sales since the state launched its recreational cannabis industry in late 2018. Cannabis is one of the fastest growing industries in the world and recent data shows that the sector hasn’t slowed down its pace despite deteriorating economic conditions globally. The industry regularly generates billions of dollars per…

WednesdayJul 19, 2023 4:20 am

420 with CNW — Schumer Admits GOP Support Key in Enacting Cannabis Banking Reform

Senate Majority Leader Chuck Schumer has said that enacting the cannabis banking bill is a top priority for this summer, but it won't be simple without backing from GOP leaders. In a letter sent to his coworkers last week, Schumer made that statement. The letter specifies that lawmakers will prioritize pushing defense and appropriations measures that must pass before moving on to other matters. To advance the bill in a number of policy areas, Schumer stated that Democrats will also keep working with their Republican counterparts. This includes moving forward on bicameral legislation, such as a bill to protect cannabis…

TuesdayJul 18, 2023 4:20 pm

420 with CNW — Minneapolis Vegan Restaurant Starts Infusing THC into Offerings

This month Hi Flora, a vegan restaurant, will have its unveiling. The exquisite eatery specializes in delectable plant-based dishes, and if customers desire, they can accompany their meals with invigorating, nonalcoholic beverages infused with THC derived from hemp. Heather Klein, owner of Hi Flora and the brilliant mind behind Roots to Rise, aims to create a unique and distinguished experience that sets her establishment apart from other vegan restaurants in the Twin Cities. Hi Flora customers have the opportunity to purchase 5mg THC tinctures and incorporate them into their chosen culinary delights or beverages. Klein aims to provide an assortment…

TuesdayJul 18, 2023 4:20 am

420 with CNW — Maryland Reports $10M Sales on First Weekend After Launching Retail Cannabis Market

Retail sales data from the state of Maryland shows that cannabis retailers sold more than $10 million worth of recreational cannabis during the first weekend of official sales. Maryland legalized recreational marijuana last year, and the law took effect on July 1, 2023, officially launching adult-use cannabis sales in the state and adding Maryland to the growing number of states with legal recreational cannabis markets. By July 1, state regulators had allowed close to 100 dispensaries to convert their medical cannabis licenses to dual licenses and begin selling recreational cannabis to adults aged 21 years and older. Unsurprisingly, retailers immediately…

MondayJul 17, 2023 4:20 pm

420 with CNW — Wholesale Cannabis Prices in Michigan Stabilizing

Wholesale cannabis prices in Michigan have finally begun stabilizing after years of historically low prices. Much like several other states with legal cannabis markets, Michigan was inundated with multitudes of sellers who flooded the market with cannabis flower soon after the controversial plant was legalized, thereby causing oversupply issues. The cannabis industry had proven to be incredibly lucrative at that point, and plenty of players were attracted by the prospect of making significant returns on their investments. However, the oversupply of cannabis flower in Michigan caused wholesale prices to plummet by 74% from $351 per ounce in December 2020 to…

MondayJul 17, 2023 12:00 pm

The Much-awaited Cannabis Drinks Expo Returns to Chicago

Cannabis Drinks Expo to be held in Chicago, IL on August 1, 2023. The much-awaited event is set to bring together the greatest and brightest minds in the cannabis-infused beverages industry. As the leading event for the cannabis drinks industry, Cannabis Drinks Expo (“CDE”) offers a unique platform for distributors, retailers, and businesses, to network, learn, and grow. The Expo will feature a wide range of product demos, educational seminars, and networking opportunities. The Cannabis Drinks Expo 2023 will provide a diverse mix of exciting features, including: A spacious exhibit hall to enable product exhibition for brands An educational session…

MondayJul 17, 2023 4:20 am

420 with CNW — State-Level Cannabis Regulation Causes Confusion as Federal Prohibition Persists

With the growing acceptability and legalization of marijuana use across the country, a worrisome reality has come to light: the state-by-state mosaic of safety legislation can leave cannabis consumers adrift in a fog of confusion, exposing them to potential hazards. Marijuana continues to be categorically illegal under federal law. Therefore, it is up to each state to decide on its own set of rules and safety standards. The lack of uniformity in legislation fuels divisive discussions about the cannabis sector in the United States. Out of the 50 states, only Nebraska, Kansas and Idaho do not permit any form of…

FridayJul 14, 2023 4:20 pm

420 with CNW — New York Backtracks on Plans to Sell Cannabis at Farmers Markets

The New York governor’s office is reconsidering a proposal to permit the sale of locally cultivated cannabis at farmers’ markets during the summer season. The initiative had the potential to greatly benefit an estimated 200 farmers who had acquired licenses to grow cannabis under the supervision of the state's Office of Cannabis Management (OCM), which oversees New York's emerging legal marijuana industry. Since the legalization of recreational cannabis use for adults more than two years ago, the state has provisionally approved more than 150 retail licenses. However, due to delays and financial constraints, only approximately 20 stores have managed to…

FridayJul 14, 2023 9:45 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Patented DehydraTECH(TM) Technology Increases Bioavailability in Lipophilic Drugs for Potential Hypertension, Epilepsy Treatments

The bioavailability enhancement technologies and services market is expected to reach $10 billion by 2035, growing at a CAGR of approximately 11% Drug developers are shifting focus to the development of lipophilic drug compounds, which increases bioavailability DehydraTECH-enabled drugs improve the speed of onset, increase bioavailability, increases brain absorption, and reduces drug administration costs Lexaria’s DehydraTECH has 34 patents granted worldwide and many more pending across several categories of fat-soluble active molecules and drugs The company operates through four separate subsidiaries to explore the potential and options for the use of DehydraTECH in respective industries Bioavailability is the ability of…

FridayJul 14, 2023 4:20 am

420 with CNW — Lawmakers Author Amendments to Change Cannabis Rules for Security Personnel, Military Recruits

Past and current cannabis use still comes with a myriad of disadvantages for people in certain fields. Even though dozens of states now allow medical and recreational cannabis use, federal law still prohibits cannabis use. As a result, applicants and employees who work in certain fields or agencies often face stringent zero-tolerance drug policies that do not allow cannabis use regardless of local state law. Professional athletes in most major sports, truck drivers and army recruits are among the classes of individuals that are subject to workplace drug tests and can face termination for failed drug tests and, in some…