NewsRoom Articles - Page 135 of 596

TuesdayDec 27, 2022 4:20 pm

420 with CNW — Why the Cannabis Blackmarket Is Still Going Strong Despite Widespread Legalization

Cannabis has been one of the most used drugs in the country for quite a while, drawing most of these supplies from the illegal market until states began loosening their own cannabis policies and launching legal markets. But despite nationwide efforts to legalize marijuana for adults aged 21 and over, data shows that the marijuana black market is still going strong. States with massive cannabis industries such as California are finding it hard to compete with the illicit market for cannabis. Data shows that black market sales account for more than 80% of California’s entire marijuana market. In fact, legal…

TuesdayDec 27, 2022 12:00 pm

Lexaria Bioscience Corp. (NASDAQ: LEXX) Uses Patented DehydraTECH(TM) Technology to Increase Bioavailability in Pharmaceuticals

Studies have indicated that around 40% of the available drugs on the market offer poor bioavailability Lexaria’s patented DehydraTECH(TM) technology increases bioavailability, improving the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery The global pharmaceutical drug delivery market was valued at $1.66 billion in 2021 and is expected to grow at a CAGR of 5.9%, resulting in a value of $2.21 billion by 2026 One of the main concerns associated with marketed drugs is low bioavailability. Bioavailability is the amount of a drug or substance that becomes completely available to the intended biological destination…

TuesdayDec 27, 2022 4:20 am

420 with CNW — Report Shows Quarterly New Jersey Recreational Cannabis Sales Surpassed $100 Million for First Time

Last week, the state of New Jersey released ITS latest sales figures, which show that adult-use cannabis sales surpassed $100 million for the first time during the third quarter of this fiscal year. New Jersey’s adult-use market was officially launched in April of this year. During the first 10 weeks of sales, the state raked in almost $5 million in cannabis tax revenue. The state’s Cannabis Regulatory Commission reported that adult-use marijuana sales between July and September totaled $116,572,533. This represents a 46% increase from the $79,698,831 recorded in the second quarter. Medical cannabis sales also grew slightly, moving to…

ThursdayDec 22, 2022 4:20 pm

420 with CNW — Cannabis Banking Drives Wedge Between Senate Republicans

The results of the November midterms created a sense of urgency among supporters of cannabis banking legislation. This is because the chances of this bill passing in the next Congress dimmed when Republicans wrested control of the House of Representatives from Democrats and denied the Democrats a solid majority in the Senate. Renewed efforts were therefore invested to see to it that some form of cannabis banking reform is approved during the lame duck session prior to the commencement of the new Congress. That renewed vigor seems to be failing to bear fruit, however, and the GOP is being divided…

ThursdayDec 22, 2022 10:30 am

REZYFi, Inc. Continues to Diversify Lending and Mortgage Industry, as Mortgage Rates Show Decline for Fifth Week in a Row

REZYFi is targeting licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners who seek a variety of real estate-related first and additional mortgage-based financing and project-specific financing The sale of legal recreational marijuana in California in 2016 reached $2.69 billion and is expected to grow to $6.59 billion by 2025. Since passing laws for recreational marijuana, California saw a 50% increase in the legal marijuana market from 2017 to 2018 REZYFi is licensed in 36 states and plans to expand to all states in the future Throughout most of 2022,…

ThursdayDec 22, 2022 9:00 am

Luis Merchan, Helping Flora Growth Corp. (NASDAQ: FLGC) Become Global Leader in the CBD Space

Luis Merchan was appointed President of Consumer Goods at Flora in July 2020 before being appointed as the company’s CEO five months later, and chairman of its Board of Directors in May 2022 Merchan would lend his years of experience at Macy’s, where he led various sales and marketing initiatives, including the B2B corporate team responsible for bringing in $160 million in annual revenue Under his leadership, Flora has transitioned from the development stage to a full-scale international distributor with operations in over 12 countries worldwide. Mr. Merchan has also spearheaded several M&As, all of which have since set the…

ThursdayDec 22, 2022 4:20 am

420 with CNW — DOJ Official Explains Upcoming Process to Gain Presidential Marijuana Pardon

In early October, President Joseph Biden announced that he would pardon thousands of Americans who were convicted of simple marijuana possession at the federal level. President Biden also called on governors to begin the process of issuing pardons for similar cannabis convictions at the state level, saying in a public statement that no one should be jailed for just possessing or using marijuana. However, the pardon would not apply to noncitizens who did not have legal status when they were arrested and convicted. At the time, the White House stated that the Office of the Pardon Attorney would soon make…

WednesdayDec 21, 2022 4:20 pm

420 with CNW — Federal Survey Shows Teen Marijuana Use Remained Unchanged in 2022

As other states join in legalizing marijuana post-pandemic, teenagers’ use of cannabis has remained stable through 2022. The director of the National Institute on Drug Abuse (NIDA), Nora Volkow had earlier deduced that the drop in teenage substance abuse was because of the COVID social restrictions. There was an expectation of an upsurge in substance use post-pandemic, but that was not the case. The previous month/daily marijuana intake among the senior high school kids was unchanged. “Use of cannabis, among the senior high schoolers, has remained a plateau,” an officer from NIDA said. It is also reported that cannabis vaping…

WednesdayDec 21, 2022 4:20 am

420 with CNW — Oregon Lawsuit May Allow Interstate Cannabis Commerce as Congress Remains Inactive

Decades after California legalized medical cannabis and launched an industry that would soon be worth billions of dollars in revenue, interstate cannabis is still virtually nonexistent. But even though America’s state-legal cannabis industry now employs hundreds of thousands of people and generates billions of dollars in taxes, there is little to no interstate commerce between states with legal markets. This is partly because most of these states included stipulations in their regulator frameworks that prevented them from trading with other states. As a result, cannabis producers cannot ship their products across state lines or source cannabis-related raw materials from other…

TuesdayDec 20, 2022 4:20 pm

420 with CNW — A Recap of Cannabis Reform Wins in 2022

The 2022 cannabis reform has notched sizeable wins, adding three new states into adult-use cannabis legalization. NORML emphasizes how active lawmakers have been under the prohibition status quo and are looking for new policies that would build on the cannabis reform movement. By last count, 21 states have legalized cannabis for adult use with a even more accessing medical marijuana. Voters were instrumental in repealing prohibitions placed on marijuana, thus offering relief to millions suffering from the effects of prohibition, said NORML deputy director Paul Armentano. While the focus is on legalization and reform setbacks, lawmakers have achieved some victories.…

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