NewsRoom Articles - Page 129 of 596

WednesdayFeb 01, 2023 4:20 pm

420 with CNW — Why Cannabis Firms Should Look Elsewhere for Financing

Currently, cannabis is legal in 21 states for recreational usage and 39 states for medical use, with total revenues anticipated to exceed $38.8 billion through 2023. The next logical stage in the development of the cannabis market is federal financial regulation for complying enterprises. Theoretically, most other sectors' opportunities for credit cards, deposits and loans should be available to the marijuana business as well. However, there hasn't been a legislative majority or the political desire to make tax and banking reform regarding cannabis business to happen, despite numerous efforts in Congress to do so. Despite numerous attempts, the usual bills…

WednesdayFeb 01, 2023 4:20 am

420 with CNW — FDA Publishes Final Guidance for Cannabis Drug Development

Earlier this week, the FDA published its final guidance on cannabis drug development in the federal register. This comes after it released a draft version in 2020. The guidance outlines the basic clinical study standards, considerations for researchers and the drug development process. The legalization of hemp in the 2018 Farm Bill is one major reason for the guidance’s release because it made the drug development process for hemp different from marijuana, which is still classified as a Schedule I substance under the Controlled Substances Act. In its statement, the agency said that the guidance outlined its views on topics…

TuesdayJan 31, 2023 4:20 pm

420 with CNW — Study Shows Cannabis Boosts Sex Quality for All Genders

In a recent study, participants reported that cannabis increased their desire, intensified their orgasms, and sharpened their sensory perception, providing evidence that cannabis can improve sex. Moser Amanda, a sexologist residing in Denver who has specialized in integrating cannabis and sex, took part as the paper's lead author. More than 70% of respondents to Moser's online questionnaire, which included more than 811 marijuana-using individuals, reported that smoking marijuana before sex enhanced orgasms and boosted desire, regardless of gender or age. The results showed greater sexual satisfaction and functioning. About 62.5% of users claimed that marijuana increased pleasure during masturbation. According…

TuesdayJan 31, 2023 4:20 am

420 with CNW — Marijuana Firms Are Boosting Brand Loyalty Through Sale of Cannabis Seeds

With more than 30 U.S. states now allowing some form of cannabis use within their borders, hundreds of businesses have sprung up to supply the almost unending demand for cannabis products. As the market attracts more players and becomes increasingly competitive, companies have adopted unique approaches to stand out from the ever-growing crowd and increase brand loyalty among their customers. One recent tactic that businesses within the cannabis industry have adopted has been to include marijuana seeds in their product lineups. While this might seem counterintuitive because it could encourage consumers to grow their own cannabis rather than purchase from…

MondayJan 30, 2023 4:20 pm

420 with CNW — Connecticut Retailers See Brisk Business During First Week of Legal Cannabis Sales

Following the opening of seven adult-use dispensaries on Jan. 10, 2023, the first week of recreational cannabis sales in Connecticut was marked by high customer demand, low stock levels and the introduction of gummies. Businesses increased staff, pushed online transactions, shifted employees from cannabis markets, and fulfilled orders outside for customers waiting in line to keep up with the increased demand. Despite numerous restrictions on retail cannabis sales, the Department of Consumer Protection (DCP) reported that adult-use sales exceeded $251,000 in the first few hours of operation. With three of its four medical marijuana licenses converted into hybrid retail permits…

MondayJan 30, 2023 4:20 am

420 with CNW — US Air Force Grants Cannabis Waivers to More Recruits Than Anticipated

As cannabis reform has swept across the country, there have been questions about how institutions that still abide by prohibitionist cannabis policies would deal with an influx of cannabis users among their ranks. Last September, the U.S. Air Force and Space Force launched a pilot program that would allow recruits who had tested positive for marijuana during the enlistment process to enlist. The two military branches announced last year that while active members were still banned from using cannabis regardless of state laws, new recruits who had high enough scores on their qualification tests, did not have convictions on their…

FridayJan 27, 2023 4:20 pm

420 with CNW — Texas Authorities Start Process to Issue Additional Medical Marijuana Dispensary Licenses

According to a press release issued by the Texas DPS, the department is now accepting applications for the possibility of adding more medical marijuana dispensaries. The application window, which opened on Monday, is expected to close on April 28, 2023. The release stated that the number of licenses that would be approved would be decided in the future. However, it's doubtful that the agency will set a limit before the summer since the legislature might pass legislation that could allow for more permitted dispensaries. Texas legalized medical cannabis in 2015. The diseases and conditions it covered as well as the…

FridayJan 27, 2023 9:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) CEO Anticipating ‘Best Year Ever’ in 2023

Lexaria Bioscience recently released its 2023 annual letter from CEO Chris Bunka, providing a strategic update to all stakeholders The letter highlights the key milestones achieved in calendar 2022, outlines expectations for calendar 2023, and indicates why Chris Bunka expects 2023 to be the company’s best year so far 1In calendar 2023, Lexaria expects to attain FDA registration for an investigational new drug (“IND”) program and commence Phase 1(b) clinical study evaluating the safety and tolerability of DehydraTECH(TM)-processed CBD as a treatment for hypertension The company will also be pursuing commercial relationships in 2023 even as its R&D continues to…

FridayJan 27, 2023 4:20 am

420 with CNW — NJ Senate Committee OKs Bills Allowing Cannabis Companies to Deduct Expenses on Tax Returns

Cannabis businesses in New Jersey may soon be able to enjoy tax benefits that have been available to companies in other industries for decades. Thanks to cannabis’ federal status as a controlled drug, licensed marijuana businesses cannot access tax benefits, including deductions, despite paying billions of dollars in taxes. The New Jersey Senate Budget Appropriations Committee recently approved two bills that would finally make it possible for cannabis businesses to deduct some expenses on their state tax returns. The companion measures came from the Assembly and the Committee's chamber before the committee made them identical and advanced them. The pair…

ThursdayJan 26, 2023 4:20 pm

420 with CNW — Governor Signs Bill Legalizing Recreational Cannabis in US Virgin Islands

The U.S. Virgin Islands is the most recent region in the nation to end cannabis prohibition after Governor Albert Bryan Jr. formally signed two bills legalizing marijuana and facilitating cannabis expungements. Bryan signed the bill just a few days before its 10-day deadline. He also used the occasion to issue a proclamation allowing people to seek pardons for previous cannabis possession convictions. The governor stated that since the Bryan-Roach Administration started working, officials have operated toward the decriminalization of marijuana use for adults. He also noted that following the personal effort of the representatives in the 34th Congress and preceding legislatures as well as the…