NewsRoom Articles - Page 127 of 592

TuesdayJan 17, 2023 4:20 pm

420 with CNW — Illinois Notches Another Cannabis Milestone with $1.5B in Recreational Marijuana Sales Last Year

Cannabis sales in the state of Illinois surpassed $1.5 billion last year. The state’s Department of Financial and Professional Regulation revealed that recreational marijuana sales in 2022 totaled $1,552,324,824. This represents a 12% increase compared to sales recorded in 2021, which stood at $1,379,088,278. The strongest sales were recorded in December2022, with data showing that adults in Illinois purchased 3,446,978 cannabis products worth $143,899,826. This is quite an increase, especially when compared to December 2021 sales, which stood at $137,896,859. Figures released by the department also show that out-of-state visitors accounted for $42,363,394 in cannabis sales while residents in the…

TuesdayJan 17, 2023 12:00 pm

India Globalization Capital Inc. (NYSE American: IGC) Announces Beginning of Phase 2 Clinical Trials for Proprietary Drug Candidate in Treating Alzheimer’s

Believed to be the first natural low-doses of THC-based compound to enter human trials for Alzheimer’s IGC-AD1 has the potential to revolutionize the treatment of Alzheimer’s disease The clinical trial is expected to produce data to “help us to further understand the metabolism of IGC-AD1 for a diverse population,” says CEO In a historic first, India Globalization Capital (NYSE American: IGC) has begun Phase 2 clinical trials evaluating its flagship drug candidate, IGC-AD1, for the treatment of agitation in dementia from Alzheimer’s disease (https://cnw.fm/LGAZG). Company officials noted that, to their knowledge, this is the first natural low-dose THC-based compound to enter…

TuesdayJan 17, 2023 4:20 am

420 with CNW — Five Reasons for Cannabis Industry to be Optimistic in 2023

It is natural to be nervous about the new year due to widespread concern about the state of the world and its economy. But despite the uncertainty surrounding these hazy prospects, there is a silver lining for cannabis enthusiasts. While federal legalization of marijuana did not happen in 2022 as some had hoped, there are reasons for optimism. Cannabis users have a lot to be happy about right now, including the fact that marijuana is now legal for adult use in some red states, significant ballot initiatives are being considered, and support is growing for legalization. Here are five things…

FridayJan 13, 2023 4:20 pm

420 with CNW — Legislators in the US Virgin Islands Approve Bill to Legalize Recreational Marijuana

Legislators in the U.S. Virgin Islands recently passed a bill to legalize cannabis for recreational use. This move brings the total number of U.S. territories and states that have legalized the recreational use of marijuana to 21. The possession of an ounce of marijuana was decriminalized in the Caribbean Island territory almost a decade ago in 2014, with the legislature approving a bill to allow the medical use of cannabis years later, in 2019. At the moment, the medical use of marijuana has been legalized in 37 states. However, the drug still remains illegal at the federal level because it’s…

FridayJan 13, 2023 10:30 am

REZYFi, Inc. Creates Opportunities for Cannabis Related Real Estate Financing as Mainstream Media Begins to Show Growing Acceptance of Cannabis-Derived Products

Google will change its requirements for product ads on January 20, 2023, to allow the promotion of FDA-approved pharmaceuticals containing CBD and topical hemp-derived CBD products in California, Colorado, and Puerto Rico Non-FDA-approved CBD topicals will require certification from LegitScript, which will test THC compliance and review the third-party Certificate of Analysis of each product to be promoted With the growing acceptance of cannabis, REZYFi is positioned in the financial industry as one of the first cannabis mortgage bankers in the United States In the United States, cannabis-related products are growing in acceptance, even in mainstream media. A recent announcement…

FridayJan 13, 2023 4:20 am

420 with CNW — 2022 Sales Bring Recreational Marijuana Sales in Massachusetts to Almost $4B

Cannabis has proven highly lucrative for most states with legal marijuana programs. Thanks to immense demand from the public, cannabis retailers in states such as California and Colorado have been selling billions of dollars’ worth of cannabis products to customers. State governments win big in such scenarios because they often receive hundreds of millions or even billions of dollars in cannabis taxes. Massachusetts is one of the latest states to rake in billions in cannabis sales. Data from a recent report released by the state’s Cannabis Control Commission shows that the state collected a whopping $1.42 billion in adult use…

ThursdayJan 12, 2023 4:20 pm

420 with CNW — Montana Earns More Than $200M from First Year of Adult-Use Cannabis Sales

A recent report by Montana’s Department of Revenue (DOR) provided an analysis of the state's first year of legalized recreational cannabis sales. According to the data, marijuana sales for both personal and medical purposes totaled $303,563,878 in 2022. Adult-use marijuana generated $202,947,326 of the total, while medical cannabis generated $93,616,552. The department reported total sales of $25,653,687 in December, which remains at par with the averages of each month all year long. Although the overall figures haven't changed a lot, adult-use transactions have increased their market share from 58% at the beginning of the year to nearly 77%. According to…

ThursdayJan 12, 2023 4:20 am

420 with CNW — Italian Army to Boost Medical Cannabis Production

To become self-sufficient in the production of medical marijuana, Italy is cultivating plants with covert nutrients in military-grade sterile environments. According to DefenseNews, Italy's army aims to produce more than 1,500 pounds of high-quality marijuana or about 50% of the estimated 3,300-plus pounds that the nation needs each year to meet the needs of those who use it to manage their chronic pain from diseases such as Parkinson's disease or cancer. Cannabis is imported into Italy from Canada, Holland, Germany and Denmark. With the opening of the military facility in Florence, however, the country hopes to produce a premium product…

WednesdayJan 11, 2023 4:20 pm

420 with CNW — New York’s Recreational Cannabis Market Faces Hurdles

In April 2021, New York legalized recreational cannabis sales for people aged 21 and older, becoming the 15th state in the country to approve adult-use cannabis sales. Eligible New Yorkers would now be able to possess up to three ounces of cannabis or 24 grams of concentrates with no legal repercussions. While the legislation didn’t outline a specific schedule for recreational sales, they were expected to begin sometime in 2022. Lawmakers behind the bill and reform advocates predicted that the move to legalize adult-use marijuana in New York could prove to be extremely lucrative, creating a market worth an estimated…

WednesdayJan 11, 2023 11:15 am

REZYFi, Inc. Leverages Cannabis and Real Estate Financing Opportunities Through Wholly-Owned Subsidiaries

The growing perception is that cannabis companies investing in real estate raise the value of the area in which they invest A 2020 study conducted in states where medicinal and recreational cannabis is legal found that 35-36% of respondents saw an increase in demand for warehouses, 23% for storefronts, and up to 28% for land The global legal cannabis market was valued at $17.8 billion in 2021 and is expected to reach $134.4 billion by 2030 REZYFi is leveraging its corporate strengths through two wholly-owned subsidiaries – REZYFi Lending and ResMac Inc. – offering a diversified approach to cannabis and…