420 with CNW Archives - Page 121 of 301

FridayMay 27, 2022 4:20 pm

420 with CNW — Franchising Offers Exciting Possibilities for Marijuana Industry

In November 2020, residents in New Jersey voted to legalize marijuana in the state. The next year, Gov. Phil Murphy signed three legislations on the legalization of cannabis. In April of this year, recreational retail stores in the state opened their doors to the public, making New Jersey the 14th state to legalize and implement the sale of recreational cannabis and decrease the penalties for underage use. The commission in the state gave approval to a more than 100 conditional licenses for smaller growers and manufacturers. Despite having approval, it may take a year or longer for these operations to…

FridayMay 27, 2022 4:25 am

420 with CNW — State Regulators Say Cannabis Banking Reform Will Ease Their Jobs

Last week, members of the Cannabis Regulators Association (CANNRA) penned a letter to leaders of congress. The letter’s primary signatories were regulators serving in Washington, Oregon, Nevada, Minnesota, Michigan, Hawaii and Georgia. In the letter, the nonpartisan association outlined primary aspects of worry for the respective cannabis markets in their states. While it didn’t endorse the SAFE Banking Act directly, the letter did highlight that the absence of safe financial and banking services for marijuana industry actors and for the individuals involved in marijuana marketplaces was a public safety matter. Legislators are currently holding a debate to attach the language…

ThursdayMay 26, 2022 4:20 pm

420 with CNW — Commissioner Califf Admits FDA Hasn’t Done Much on CBD

While addressing a Congressional panel, FDA chief Dr. Robert Califf admitted that the agency he heads hasn’t been as fast as stakeholders may want as it handles matters of creating regulatory pathways for different products, including cannabidiol, extracted from hemp. This is despite the legalization at a federal level of hemp as well as its derivatives several years ago. He admitted that while things look the same as they were when hemp was legalized back in 2018, his agency now has more data because it has been doing plenty of research. He added that most of the funds allocated to…

ThursdayMay 26, 2022 4:20 am

420 with CNW — DEA-Approved Cannabis Cultivator Debuts on NASDAQ

Bright Green Corp., a Florida-based cannabis company, made history last week by being the first “plant-touching” company to list its shares on a major securities exchange within the United States. The company, which boasts of being in possession of conditional approval from the U.S. Drug Enforcement Administration to grow research-grade marijuana, started trading on the NASDAQ exchange under the ticker BGXX on Tuesday last week. The exchange had earlier set $8 as the reference price for a share of this company, but when trading opened on Tuesday, the stocks started trading at $15.99. In the course of the day, the…

WednesdayMay 25, 2022 4:20 pm

420 with CNW — Study Finds That Cannabis Legalization Is Associated with Reduced Opioid, Nicotine, Alcohol Use

New research has found that the legalization of cannabis is associated with reduced use of nonprescription opioids, nicotine and alcohol. The study was conducted by researchers at the University of Washington. Its findings were reported in the “Journal of Adolescent Health.” For their study, the researchers conducted an analysis of data on trends of substance use in the period between 2014 and 2019. The data, which was obtained from more than 12,000 adults, led to the discovery that individuals who were 21 to 25 years of age were less prone to consuming more “dangerous” drugs after they were legalized within…

WednesdayMay 25, 2022 4:20 am

420 with CNW — Congressman Calls on DOT to Modify Truck Driver Cannabis Testing Rules

Earlier this week, Rep. Earl Blumenauer sent a letter to the U.S. Department of Transportation urging the federal agency to reform its cannabis testing policies for truckers and other commercial drivers. The congressman explained that these drug tests unnecessarily cost individuals their jobs and also contribute to issues in the supply chain. In the letter, he cited data from the department showing that thousands of drivers lost their jobs due to strict THC drug-screening policies. Blumenauer explained that while no individual wanted impaired drivers on U.S. roads, there didn’t exist tests that could detect impairment, which meant that these individuals…

TuesdayMay 24, 2022 4:20 pm

420 with CNW — Marijuana Product Sampling Grows Despite Pandemic, Legal Obstacles

CPG professionals have long known that one sure way to get your target market to buy a new product is by first giving those people a free sample. The samples provide members of the public with an easy way to try something new without risking anything. Samples are also bait for retail outlets, so it isn’t surprising that several companies in the marijuana industry are finding creative ways to use this marketing approach. Considering that store sales can be boosted by a jaw-dropping 2,000% and more than 33% of shoppers who receive a sample buy that product within the same…

TuesdayMay 24, 2022 4:20 am

420 with CNW — Congressman Optimistic About Cannabis Banking Reform Inclusion in Manufacturing Bill

During a press briefing earlier this week, Rep. Earl Blumenauer revealed that he was optimistic about the possibility of including cannabis banking reforms in the final version of the large-scale manufacturing bill that will soon be signed into law. The Congressman has championed for marijuana legalization for a while now and is currently involved in negotiations on the America COMPETES Act. During the briefing, the Congressman stated that there was a joint effort among conferees in both chambers to ensure that the SAFE Banking Act, which was approved by the House, was attached to the final conference report that is…

MondayMay 23, 2022 4:20 am

420 with CNW — US Marijuana Sales in 2021 Exceed Those of Starbucks

People in North America have grown to expect to see a Starbucks outlet almost on every street corner. However, available information on cannabis sales suggests that marijuana could overthrow this coffee giant as legal sales of marijuana exceeded those recorded by Starbucks by a wide margin. This is no small feat by the marijuana industry, given the fact that only 39 of all the states in the U.S. have legalized marijuana in some form, either for medicinal or/and for recreational purposes. In contrast, Starbucks has been around since the early ‘70s, and coffee has always been legal, while the legal…

FridayMay 20, 2022 4:20 pm

420 with CNW — Governor Newsom Proposes Cannabis Tax Cuts to Combat California’s Illicit Market

Last week, Gov. Gavin Newsom of California unveiled a modified budget proposal whose approval would revise the state’s marijuana tax revenue allocations and eliminate the state’s cannabis cultivation tax. The governor’s announcement comes just months after officials in the state announced that California had allocated $100 million in funding for the development of local cannabis markets, which would involve getting marijuana businesses fully licensed. Newsom’s plan will maintain the 15% excise tax rate on cannabis sales and shift the point of collection and remittance for excise tax to retail from distribution, effective Jan. 1, 2023. This updated budget will also…