Chris@CNW, Author at CannabisNewsWire

MondayJun 24, 2024 10:00 am

California to Allow Cannabis On-Site Consumption, Sales During 2024 State Fair

The state of California will be allowing the sale and consumption of cannabis at this year’s fair for the first time. While the fair has in the past featured educational booths on marijuana as well as competitions, this will be the first time adults will be allowed to consume and buy the drug. Embarc cofounder Lauren Carpenter stated that hosting marijuana sales and consumption was a huge milestone in destigmatization as it facilitated a deeper connection between farmers who grow their products with extra care and consumers. The state fair is set to begin on July 12, 2024, and run…

MondayJun 24, 2024 9:45 am

Golden Triangle Ventures Inc. (GTVH) Completes Acquisition of Time-Tested, Proven Shipping and Logistics Operation

Through acquisition, management has agreed to use 10% of the profits from logistics business to buy back and retire GTVH stock “This transition marks a pivotal moment in our journey,” states exec Management is crafting a comprehensive business plan that substantially expands the company’s growth trajectory Golden Triangle Ventures (OTC: GTVH) continues to take strategic steps toward expanding and positioning the company for fundamental business income and financial independence. The latest in these steps is the completed acquisition of Cargo Management Group, a multifaceted logistics and trucking operation (https://cnw.fm/IjALN). According to the announcement, through this acquisition, management has agreed to use…

MondayJun 24, 2024 9:00 am

Software Effective Solutions Corp. (SFWJ) Notes Subsidiaries Making ‘Remarkable’ Advancements in Array of Sectors Around the World

Recent report projects global cannabis market to reach $444.34 billion by 2030 MedCana and its subsidiaries are focused on establishing stronghold in this expanding space MedCana is committed to advancing cannabis production and agricultural technology around the world, while also driving innovation and promoting sustainability The cannabis industry continues to grow, as it has consistently for the past several years. Recent projections value the global cannabis market at almost $445 billion by 2030 (https://cnw.fm/k4VDg). This is good news for Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ), a leading entity in the cannabis and agricultural technology sectors. Recently, MedCana noted remarkable advancements…

FridayJun 21, 2024 4:20 pm

420 with CNW — White House Objects to Proposal Seeking to End Cannabis Testing for Army Recruits

The Biden administration has expressed its opposition to a proposal that would prevent military branches from testing for cannabis use as part of the commissioning or enlistment process, noting concerns about how it could impact military readiness and safety. The White House Office of Management and Budget (OMB) released a statement on June 11, 2024, outlining its policy concerns regarding various elements of the 2025 NDAA. The bill is currently under consideration by the Rules Committee for upcoming House action. One specific provision that the administration opposes is Section 532. This section would prohibit military branches from requiring cannabis tests…

FridayJun 21, 2024 10:00 am

Thousands to Benefit from Cannabis Pardons in Maryland

Earlier this week, the governor of Maryland signed an executive order pardoning more than 175,000 cannabis convictions. Governor Wes Moore stated that this pardon would affect thousands of Marylanders who had been convicted of misdemeanors, adding that it was the biggest pardon in the country’s history. While the pardons will not result in any prior convictions being expunged automatically from an individual’s background check or allow any individual to be released from prison, advocates applauded the move because eliminates barriers to employment, education and housing opportunities. During a news conference, Moore explained that this order would also help change how…

ThursdayJun 20, 2024 4:20 pm

420 with CNW — Cannabis Operators Applaud End of Potency Tax in New York State

New York governor Kathy Hochul has successfully changed the state’s cannabis tax structure. Starting June 1, 2024, a new flat excise tax replaces the previous potency tax, marking the beginning of the new financial year. This move is part of New York’s $237 billion budget for FY 2025 and is receiving positive feedback from many in the cannabis industry, especially smaller retailers, processors and social-equity beneficiaries. With the tax reform, retail marijuana prices are expected to decrease, a significant development as licensed cannabis entities strive to compete with the numerous illegal shops, particularly in New York City. Governor Hochul had…

TuesdayJun 18, 2024 4:20 pm

420 with CNW — Slumping Marijuana Market in Colorado Triggers Industry Concern

In 2014, a Denver-based cannabis dispensary, 3D Cannabis, made history as the first seller of legal marijuana. Over a decade later, the dispensary bears a sign saying it is “temporarily closed," with the building’s doors and windows boarded up and the parking lot strewn with trash, symbolizing the challenges facing Colorado’s marijuana market. Once a thriving success, the industry is now marked by failed entities and struggling entrepreneurs due to regulatory challenges, market saturation and increased competition from neighboring states. The market’s sales peaked in 2020 at $2.2 billion. But by 2023, revenues had fallen to $1.5 billion, which led…

MondayJun 17, 2024 4:20 pm

420 with CNW — DeSantis Vetoes Bill Banning Hemp Intoxicants in Florida

As Florida governor Ron DeSantis campaigns against a ballot initiative for cannabis legalization, he has paradoxically vetoed a bill aimed at banning the sale of intoxicating hemp-derived cannabinoids in the state. This decision comes in the wake of reports that Governor DeSantis intended to block the hemp prohibition bill, hoping the hemp industry would financially support his campaign against the cannabis measure that voters will decide on in November. Although DeSantis did not explicitly reference the cannabis legalization measure in his veto letter, he noted that while the goals of SB 1698 are admirable, the measure would impose significant regulatory…

MondayJun 17, 2024 11:15 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Hires CRO; Set for First Tirzepatide Molecule Study

Lexaria, a global innovator in drug delivery platforms, recently announced the hiring of a Contract Research Organization (“CRO”) for its third human pilot study The study, a randomized, crossover investigation, will evaluate a dual-action glucagon-like peptide 1 (“GLP-1”) + glucose-dependent insulintropic peptide (“GIP”) It will measure absorption, tolerability, pharmacokinetics, and blood sugar levels Lexaria is counting on its patented DehydraTECH technology for significant growth in the 2024 calendar year, and the study reflects this commitment Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced the hiring of a Contract Research Organization (“CRO”) for its third human…

MondayJun 17, 2024 10:00 am

Poll Finds Most Individuals Use Cannabis to Manage Pain, Fruity Strains Preferred

A new survey has determined that about 25% of cannabis consumers use the drug to manage pain, with most revealing that they preferred fruity strains. The poll analyzed the responses of more than 6,500 consumers of cannabis who were asked questions on their preferences as well as their desired effects, consumption times and flavor profiles. When asked about their primary goal of consuming cannabis, 25% revealed they used the drug to manage pain, with another 18%, 23%, 7% and 12% revealing that they used the substance to manage stress, anxiety, insomnia and depression respectively. Additionally, 13% of the respondents revealed…