NewsRoom Articles - Page 171 of 616

TuesdayOct 04, 2022 4:20 pm

420 with CNW — Medical Cannabis Sales in Ohio Hit $1B Milestone

Although only 19 states have legalized recreational cannabis compared to the more than 30 states with legal medical cannabis markets, recreational cannabis sales have routinely breached the billion-dollar milestone. Demand for adult-use cannabis has been so high that states have been able to earn billions in taxes alone from cannabis sales. Data from Ohio shows that the medical cannabis segment has just as much commercial potential. The state launched medical cannabis sales in April 2019 and has sold $1 billion worth of medical use cannabis in the last three years. Figures posted by the Ohio Medical Marijuana Control Program show…

TuesdayOct 04, 2022 10:30 am

Flora Growth Corp. (NASDAQ: FLGC) Expands Global Distribution Network to Three Industry-Leading Countries; Wins Award for Best M&A Deal at the 2022 Benzinga Cannabis Capital Conference

Flora just announced the first successful export of Colombian high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate to the United States Luis Merchan, the company’s CEO, has described this as a “major milestone,” one that further defines the company’s revenue pipeline He pointed out the increasing demand for Flora’s high-quality, high-margin flower and derivatives from its cultivation operation in Colombia, terming it as a testament to the Flora team’s ability to execute in a very complex global regulatory environment Flora also earned the Best M&A Deal award at Benzinga’s 2022 Cannabis Capital Conference…

TuesdayOct 04, 2022 9:45 am

Sugarmade Inc. (SGMD) Positioning Itself in Space Seeing Growing Government Support

More than a dozen cannabis reform bills were passed by the California legislature during the summer Governor Newsom signed 10 of the bills SGMD is focused on strengthening its presence in a variety of spaces, including cannabis As the California legislature ended its session last month, more than a dozen cannabis reform bills were approved and sent to Governor Gavin Newsom for his consideration (https://cnw.fm/mCyUU); ultimately, the governor signed 10 of them (https://cnw.fm/CHabl). The show of government support for cannabis in the state bodes well for California cannabis companies, including Sugarmade (OTC: SGMD), a product and branding marketing company investing…

TuesdayOct 04, 2022 4:20 am

420 with CNW — Medical Marijuana Firm Wants Court to Allow Selling Cannabis Edibles on Open Market

Edibles have been giving cannabis flower a run for its money in recent years. As people became more conscious of the health effects of smoking, the demand for a safer, more discreet means to consume cannabis grew exponentially. Edibles fill that niche neatly by allowing users to consume cannabis in a safe and discreet way. Furthermore, edibles also allow for more precise dosing, making it easier for newbies to try cannabis without getting overwhelmed the first time. This precise dosing capability make edibles particularly suited for medical applications. In Minnesota, a medical marijuana company called Vireo Health is fighting for…

MondayOct 03, 2022 4:20 pm

420 with CNW — Mississippi Collects Millions in Revenue from Medical Cannabis Licenses, Fees

Last week, the state of Mississippi announced that it had brought in millions in revenues from its new medical cannabis program. Information on the state’s Department of Health website shows that the state raked in roughly $5.7 million in one-off application and license fees from cultivators, dispensaries, processors and transportation companies as well as testing activities within the state. In specific figures, the state of Mississippi has thus far brought in $25,000 for testing facilities; $37,500 and $12,500 for transportation and disposal licenses respectively; $110,000 and $175,000 for micro-cultivation and processor licenses respectively; and $905,000 for cultivation licenses. Sales are…

MondayOct 03, 2022 10:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Focusing on Multiple Mainstream Applications of Its Disruptive Patented DehydraTECH(TM) Technology

Lexaria is the drug delivery platform innovator behind the disruptive, patented DehydraTECH(TM) technology DehydraTECH is designed to enhance the performance of fat-soluble active pharmaceutical ingredients (“APIs”), molecules, and drugs by increasing their bioavailability Through animal and human studies, Lexaria has shown that DehydraTECH increases the bioavailability of antiviral drugs, CBD, oral nicotine and more The company is focusing on multiple mainstream applications of its technology that rerrcould address serious unmet patient needs Lexaria is currently keen on developing a potential treatment for hypertension Last summer, drug delivery platform innovator Lexaria Bioscience (NASDAQ: LEXX) announced a review of its successful 2021…

MondayOct 03, 2022 4:20 am

420 with CNW — Epileptic Children in UK to Receive Free Medicinal Cannabis Through Private Donations

Children with epilepsy in the United Kingdom are scheduled to receive medical marijuana for free after private companies responded to a plea from Charlotte Caldwell. Epilepsy is a neurological disorder in which an individual’s brain activity becomes abnormal, causing seizures or unusual sensations and behaviors. In some cases, individuals may lose awareness. Caldwell campaigned for help for families that incurred high costs of treatment for privately prescribed marijuana as they underwent a taxing application process for treatment under NHS. In a recent interview, Caldwell stated that this would make a big difference to families undergoing this process, especially in the…

FridaySep 30, 2022 4:20 pm

420 with CNW — Marijuana-Friendly Vacation Rentals on the Uptick as Legalization Spreads

Although the days of cannabis prohibition are far from gone, access to the plant has increased dramatically in the past couple of years. With 19 states allowing recreational cannabis use and more than 30 allowing residents to use cannabis for medical purposes, millions of people now consume cannabis. Data shows that around 48 million Americans have used cannabis at least once, and more than 3 million consider themselves recreational users. As more states have adopted pro-cannabis policies, there has been an influx of marijuana-friendly vacation rentals, especially in states that allow recreational cannabis. All of the states that allow recreational…

FridaySep 30, 2022 10:30 am

Flora Growth Corp. (NASDAQ: FLGC) Strategic Acquisitions, Expanding Cannabis Exports Give Significant Boost to Company’s Revenue Streams

Flora Growth is a global cannabis cultivator, product builder, and supplier, experiencing continued growth thanks to strategic acquisitions and an expanding supply chain for marketing its brands in various countries Flora announced its most recent acquisition in September — a deal to acquire the assets of the No Cap Hemp Co. brand in exchange for payment of 10 percent of the No Cap brand revenues up to a maximum of $2 million The deal grants Flora an immediate revenue stream free of closing cost considerations Flora has seen revenues skyrocket over the past year, with a 604 percent YOY increase…

FridaySep 30, 2022 9:45 am

Sugarmade Inc. (SGMD) Makes Strategic Advancements in Plan to Grow Presence in California Cannabis Space

SGMD inks MSA with California cannabis micro license holder Agreement “lays a foundation for a significantly expanded manufacturing and distribution infrastructure,” says CEO Key partnerships are essential pieces of Sugarmade’s focus on California cannabis space With the recent signing of a management services agreement (“MSA”) (https://cnw.fm/7zHND), Sugarmade (OTC: SGMD) is making key progress toward the goal of strengthening its position in the California cannabis space. SGMD signed the MSA through its subsidiary, SugarRush, which entered into the agreement with Canndis Inc., a California cannabis micro license holder. Canndis holds a license that covers delivery, manufacturing, distribution and cultivation rights, and…

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