NewsRoom Articles - Page 132 of 596

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…

WednesdayJan 11, 2023 9:45 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Adds to its Existing Suite of Global Patents with First Granted Patent in Canada

Lexaria has announced patent #3,093,414, its first patent in Canada, its 28th granted patent worldwide, and the first patent from its sixth patent family This patent joins the ranks of previously issued patents in Australia, India, Japan, and the EU, even as similar patent applications for skin-based delivery of patented DehydraTECH formulations remain pending in many countries In Lexaria’s 2018 study, DehydraTECH-processed CBD demonstrated almost a 1,900% increase in CBD permeability through human skin compared to a control formulation that was devoid of any commercial penetration enhancers This patent inches Lexaria closer to taking advantage of the cosmeceuticals market, projected…

WednesdayJan 11, 2023 4:20 am

420 with CNW — Report from White House Draws Attention to Law Enforcement Concerns on Marijuana

Cannabis policing has been an extremely controversial issue in American history. While the war on drugs was ostensibly launched to cripple the criminal organizations behind the illicit drug trade, Black and Brown communities were disproportionately affected by the antidrug campaign. Decades later, the drug war has decimated marginalized communities for minor drug charges and has long been declared an unmitigated failure. Even though the move to legalize cannabis across the country has been praised by criminal and racial justice activists, the cannabis reform movement hasn’t received everyone’s support. The White House recently issued its annual drug enforcement report to Congress…

TuesdayJan 10, 2023 4:20 pm

420 with CNW — US Border Patrol Sees 95% Drop in Cannabis Seizures as Legalization Spreads

Marijuana seizures at the borders dropped significantly in 2022, an implementation shift that solicitors attribute to the legalization movement at the state level. Border marijuana confiscations have dwindled drastically in the last 10 years, from 2million pounds in 2012 to a little more than 150,000 pounds in 2022. Several factors may possibly explain this, including one being a shift in priorities for the enforcement agencies, though experts deem the trend as reduced demand for smuggled illicit cannabis as more states moved to legalize cannabis. In 2014, maiden recreational marijuana shops were opened in Colorado and Washington, starting a reform currently…

TuesdayJan 10, 2023 4:20 am

420 with CNW — GOP Congresswoman Files Measure to Amend IRS Code So Cannabis Businesses Can Obtain Tax Relief

Last week, a legislation that would allow legal and licensed operators in the cannabis industry to receive federal tax deductions that are offered to other businesses was introduced in Congress. The bill, which was introduced by Representative Nancy Mace, seeks to revise section 280E of the Internal Revenue Service code. Section 280E prohibits businesses involved in activities comprised of trafficking in substances classified under the Controlled Substances Act such as marijuana, from receiving tax credits or deducting expenses from their taxes. This is despite the fact that these entities are still required to pay taxes like other businesses. This section…

MondayJan 09, 2023 4:20 pm

420 with CNW — Six Marijuana Trends to Watch for in 2023

There is an air of optimism at the turn of every new year, and the marijuana industry isn’t left behind. Cannabis business moguls are optimistic that profitable trends shall emerge for the industry’s fiscal year 2023. Last year saw some lows for the industry, from limited capital lending and investment to inflation and other factors. The new year starts with great hopes for the industry, and the market can look for several trends as the year progresses. Some 2023 trends to look out for in the cannabis industry include the following: Key market consolidation The COVID-19 business boom created the…

MondayJan 09, 2023 3:11 pm

Cannabis Drinks Expo Conference Tickets Go LIVE

Get launch pricing January 9, 2023 to January 13, 2023 Cannabis Drinks Expo returns to San Francisco and Chicago with a launch offer for its conference that you don’t want to miss. Conference tickets will go on sale on January 9 and for the first 5 days of the launch, there will be a sale offering you the lowest ticket price for the Cannabis Drinks Expo show. Keep reading to learn more about who will be speaking and how it will help your business. There will be 16 speakers that will take the stage between 8 keynotes and 2 panels…