February 2024 - CannabisNewsWire

ThursdayFeb 29, 2024 4:20 pm

420 with CNW — New Poll Shows Voters Want Cannabis Taxes to Fund Housing, Education

Opinions among adults in New Jersey vary regarding how the state should utilize revenue from the marijuana tax. However, a recent study sheds light on the prevailing sentiment that most residents do not favor directing marijuana tax funds toward antidrug or law-enforcement initiatives. The study, which was published in the “International Journal of Drug Policy,” polled 1,006 New Jersey residents and gave them seven alternatives for how marijuana tax revenue should be spent, including financing for law enforcement, affordable housing and public health. The study’s findings, compiled by researchers from Drexel and Rutgers Universities, showed that financing for community-based programs…

WednesdayFeb 28, 2024 4:20 pm

420 with CNW — Pennsylvania Bill Seeks to Allow Medical Cannabis Users to Own Guns

Pennsylvania’s Erie GOP Senator Dan Laughlin is initiating a measure to change the gun ownership laws, enabling medical cannabis users to possess firearms. Laughlin argues that Second Amendment rights shouldn't be violated because medical marijuana is a legitimate treatment for symptoms. Laughlin notes that the amendment is aimed at defending constitutional rights and personal liberty. However, changing state laws will not be enough because federal law forbids marijuana users from owning firearms. The senator, who is surprised by the federal government’s passivity, takes inspiration from a case filed by the district attorney of Warren County against federal limits. Robert Greene,…

WednesdayFeb 28, 2024 10:45 am

Germany Approves a Quasi-Legalization Marijuana Law

Germany recently passed a recreational marijuana legislation that decriminalizes marijuana, provides a foundation for cultivation social clubs and permits home growing. Under the legislation, cultivation social clubs are defined as not-for-profit organizations that allow members to obtain cannabis for recreational use. The law, which hasn’t yet been read in the Bundesrat, will be enacted on April 1, 2024. The Bundesrat isn’t required to provide “consent” and will focus more on looking into the measure itself. However, if it does summon the Mediation Committee, then the measure may not go into effect in April as is expected. Bloomwell Group’s CEO and…

TuesdayFeb 27, 2024 4:20 pm

420 with CNW — Why the Federal Government Is Not Acting Fast to Reform Cannabis Laws Despite Public Support

The legal status of cannabis remains complex in the United States, with the Drug Enforcement Administration (DEA) playing a central role. For years, the agency has maintained that cannabis is a highly dangerous and addictive drug and lacks medical value, despite contrary evidence from public opinion, medical research and state laws. This has led to a situation where marijuana is readily accessible in certain states, heavily penalized in others and federally illegal throughout the country. According to Carmel Shachar, a professor at Harvard School of Law, the U.S. courts or Congress could resolve this confusion, but so far, there’s been…

TuesdayFeb 27, 2024 11:15 am

Astrotech Corp. (NASDAQ: ASTC) Reports 512% Jump in YTD Revenue

Astrotech reported financial results for the quarter ended December 31, 2023, recording year-to-date revenue of $1,540,000 The company attributed the growth to the successful fulfillment of two significant purchase orders for the TRACER 1000(TM), the world’s first mass spectrometer-based explosive trace detectors (“ETD”), to customers in Romania Astrotech is focused on commercializing its innovative platform mass spectrometry technology through its wholly owned subsidiaries 1st Detect Corp., AgLAB Inc., Pro-Control Inc., and BreathTech Corp. The company and its subsidiaries are positioned to capitalize on burgeoning markets, including the global mass spectrometry market, expected to grow from an estimated $6.77 billion in…

TuesdayFeb 27, 2024 9:45 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Closing of $3.6 Million Registered Direct Offering

Lexaria, a global innovator in drug delivery platforms, just announced $3.6 million in gross proceeds from its registered direct offering priced at the market The proceeds will go to critical R&D studies, patent, and legal costs, as well as general working capital purposes This is timely, given Lexaria’s resolve to double down on GLP-1 investigations for the 2024 calendar year Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently announced that the registered direct offering for the purchase and sale of 1,558,443 shares of common stock at a purchase price of $2.31 – at the market under…

MondayFeb 26, 2024 4:20 pm

420 with CNW – Legal Opinion Asserts That Rescheduling Cannabis Won’t Violate US International Obligations

A recent legal opinion has challenged the U.S. Drug Enforcement Administration’s (“DEA”) stance, suggesting that international treaties related to drugs should not hinder cannabis rescheduling as recommended by the U.S. Department of Health and Human Services (“HHS”). According to the opinion, doing so would be more in line with the country’s duties under international legislation to regulate marijuana in a manner that safeguards public safety and health. Prepared by lawyers from Vicente LLP and Porter Wright LLP firms, the opinion aims to counter the DEA’s assertion in 2016, when it denied a previous request for a cannabis rescheduling. At the…

MondayFeb 26, 2024 11:45 am

First Marijuana Consumption Lounge in Nevada Set to Open by Month’s End

Earlier this month, the Nevada Cannabis Control Board announced that it had awarded its first marijuana consumption lounge license. This announcement comes after the board approved a handful of these licenses over the last couple months. The first to receive a lounge license was Thrive Cannabis Marketplace. Mitch Britten, CEO and managing partner of Thrive, stated that the company was honored to be at the forefront of the marijuana industry in Nevada through the official launch of the first regulated marijuana lounge in the state. Britten revealed that the company had created a unique destination for marijuana enthusiasts to enjoy…

FridayFeb 23, 2024 4:20 pm

420 with CNW – Medical Cannabis Could Be Legalized in Spain, But Not Everyone Is Thrilled

Spain is making strides toward legalizing marijuana for medical use, with the Health Ministry initiating the introduction of new legislation to sanction its therapeutic application across various conditions. Reports from the Spanish media indicate that the proposed law is currently undergoing a phase of consultation and discussion. Residents, professionals and experts are asked to contact the ministry via email during this period to express their views on the subject. Recently, Spain health secretary Javier Padilla had talks with scientific societies and professional associations after holding conversations with the EU Observatory of Marijuana Consumption and Cultivation. Further consultations are planned with…

FridayFeb 23, 2024 9:45 am

New Poll Finds 7 in 10 Nebraskans Want Medical Marijuana Legalized

A new poll has found that 70% of individuals in Nebraska are in favor of medical cannabis being legalized. The survey, carried out by Neilan Strategy Group, also found that the majority of the respondents would like a new alternative to income, sales and property taxes to be approved. These findings are much like those of another poll, which determined that 80% of registered voters in the state favored marijuana legalization. Neilan Strategy Group founder Perre Neilan stated that from the results it was clear that Nebraskans were ready to legalize cannabis. This sentiment was echoed by Crista Eggers of…