NewsRoom Articles - Page 176 of 604

FridayJul 08, 2022 4:20 pm

420 with CNW — Governor Newsom Signs Bill Easing California’s Cannabis Taxes

More than five years after California legalized recreational cannabis, the state’s illicit cannabis market still makes up a majority of recreational cannabis sales. For example, in 2019, illicit cannabis sales reached around $8.7 billion while the legal market sold $3.1 billion worth of cannabis. Governor Gavin Newsom has now signed a bill that would restructure California’s recreational cannabis program in an effort to combat illegal sales. Bill AB 195 will get rid of the marijuana cultivation tax and require that the excise tax not increase for the next three years, reducing the financial load on cannabis producers and theoretically allowing…

FridayJul 08, 2022 4:20 am

420 with CNW — New York Names Officer to Oversee Cannabis Diversity Measures

More than a year after New York legalized recreational marijuana, becoming the 15th state to allow adult-use cannabis, efforts are underway to prepare for the launch of legal recreational sales later this year. Officials have announced the appointment of Damian Fagon as the chief equity officer at the Office of Cannabis Management (OCM). The OCM was created by the Marijuana Regulation and Taxation Act in 2021 and is tasked with overseeing the licensing, cultivation, production, distribution, sale and taxation of cannabinoid hemp, recreational cannabis and medical marijuana in New York State. Fagon is a third-generation farmer with an extensive background…

ThursdayJul 07, 2022 4:20 pm

420 with CNW — An Analysis of Four Factors Driving the Marijuana Industry

America’s cannabis industry is projected to grow from $28 billion in 2021 to $197 billion in 2028 at a compound annual growth rate (CAGR) of 32.04%. Given the increased evidence of its medical potential coupled with how well the cannabis industry weathered the coronavirus pandemic and industry projections, plenty of investors have had their eyes on cannabis. But despite marijuana’s awesome growth potential, it is still susceptible to market factors with the ability to limit or enhance its growth. Public sentiment is one such factor. Cannabis has been criminalized for decades in the United States, with millions of Americans being…

ThursdayJul 07, 2022 4:20 am

420 with CNW — California State Fair Unveils Winners of Maiden Marijuana Competition

Last September, California officials announced that the California State Fair would host the country’s first-ever, state-sanctioned marijuana competition. Cannabis vendors from the state would be allowed to compete in the fair in categories such as cheese, beer and wine vendors, a move that pointed to the legitimization of the cannabis industry. The state fair recently unveiled the winners of this historic competition, awarding 60 medals and trophies to companies whose products had been deemed superior by judges via laboratory tests. In a press release, Jess Durfee, the chair of the California Exposition & State Fair Board, said that including marijuana…

WednesdayJul 06, 2022 4:20 pm

420 with CNW — White House Recognizes Cannabis’ Therapeutic Value, Promises to Make Reforms

President Joseph Biden has made his views on cannabis quite clear: although he believes in decriminalization and letting states formulate their own cannabis policies, he is an avid opponent of cannabis legalization. Despite that, news coming from the White House reveals that it still recognizes the medical potential of cannabis and that the Biden administration is committed to keeping its marijuana reform promises. Last week, the White House drug czar acknowledged that cannabis has therapeutic potential as a painkiller. He stated that Biden believed existing federal cannabis policies were ineffective and that the administration was still set on passing incremental…

WednesdayJul 06, 2022 10:30 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Expands Production Capabilities to Support Growing List of Business-to-Business Clientele

Lexaria is a global innovator in drug delivery platforms; its patented DehydraTECH(TM) technology improves the bioavailability, speed of onset, and brain absorption of active pharmaceutical ingredients (“API”) Testing confirms that DehydraTECH-processed cannabidiol beverages maintained 93.4% and 78% potency of CBD a full year and two years after production, respectively Lexaria recently signed two agreements with BevNology LLC, an Atlanta-based company with advanced capabilities that support best-in-class beverage formulations The partnership, which also leverages Lexaria’s superior DehydraTECH-CBD nanoemulsification formulation and processing techniques, could make industry-leading beverage products a reality for many brands In this year’s letter to shareholders, Lexaria Bioscience (NASDAQ:…

WednesdayJul 06, 2022 4:20 am

420 with CNW — Only Strong Marijuana Firms Will Survive Economic Downturn

The coronavirus pandemic kickstarted a global economic downturn and plunged the world’s economy into the worst recession since World War II. According to the World Bank, most countries should expect their economies to head into a recession, with the global growth rate expected to slow down from 5.7% in 2021 to 2.9% in 2022. This atmosphere will undoubtedly weed out cannabis companies that were only in it for a quick buck as investors become more cautious with their money. In Europe, marijuana-based startups are having trouble raising capital amid growing fears of a looming recession and global stock markets plunge.…

TuesdayJul 05, 2022 4:20 pm

420 with CNW — Illinois Disburses $45 Million from Cannabis Taxes to Repair Drug War Harms

Early this year, the Illinois Department of Revenue estimated that in the two years since it first launched its recreational cannabis market, Illinois had collected more than $500 million in cannabis taxes. Now the state is planning on using some of those funds to repair the societal harms caused by the failed war on drugs and decades of prohibition. Illinois officials recently announced that they would be awarding $45 million in grants to reinvest in communities that had been hit the hardest by the drug war. Money generated from taxing the sale of recreational marijuana in the state would be…

TuesdayJul 05, 2022 11:15 am

Flora Growth Corp.’s (NASDAQ: FLGC) Management Confident in the Company’s Short, Medium, and Long-Term Growth Prospects

Flora just announced the repurchase of $5 million of its outstanding common shares This repurchase aligns with its overall global expansion plan, and its move to grow its market reach These moves by Flora assure shareholders of the company’s commitment to driving shareholder value and exploring various opportunities to do so On June 16, 2022, Flora Growth (NASDAQ: FLGC) announced that its Board of Directors had authorized the repurchase of up to $5 million of its outstanding common shares. This came in the wake of the expiration of a one-year lockup period for specific shareholders who had acquired shares before…

TuesdayJul 05, 2022 9:15 am

Cilicon’s Partner Program Accelerates Enterprise Innovation and Product ROI via Diversifying Transformation

Cilicon, the leading, globally trusted, product solution provider of cannabis vape technology and manufacturing, announces the launch of its Cilicon Partner Program, a flexible, collaborative distributor partnership to help cannabis vaporizer enterprises expand product selections, upgrade product performance, expedite product delivery cycles and reduce product inventory costs. Cilicon today began accepting cannabis vape hardware distributors of different regions, sizes, levels and needs to further expand the supply market for cannabis vaporizers. The Cilicon Partner Program uses a one-to-one approach to achieve diversification and benefits maximization to help distributors satisfy consumers’ demands in seeking more diversified and humanized products and services,…