NewsRoom Articles - Page 207 of 606

TuesdayFeb 22, 2022 4:20 pm

420 with CNW — Latest Report Shows Record-Breaking 2021 Cannabis Sales in Colorado

Last week, the Department of Revenue in the state of Colorado released its cannabis sales figures for 2021, which show that the state broke another cannabis sales record last year as state officials reported more than $2.22 billion in marijuana purchases. The state’s 2020 sales record stood at $2.19 billion in cannabis purchases. These latest figures also show that Colorado took in more than $423 million in tax revenue from adult-use and medical cannabis sales in 2021. Since the retail market was launched almost eight years ago, marijuana sales have surpassed $12 billion. The department stated that the Cannabis Tax…

TuesdayFeb 22, 2022 9:45 am

American Cannabis Partners Eyeing Federal Landscape as 2022 Looms Large for Cannabis Legislation

Four cannabis bills introduced on federal level indicates import to government leaders. Increased compromise, bipartisanship could lead to significant changes. ACP is strengthening position in the sector, currently operating in two states that have passed legislation approving the substance. Federal cannabis reform has been a roller coaster ride over the past several years, with the introduction of several bills raising hopes for legislative support, especially with a change in the White House seeming to create a more cannabis-friendly atmosphere. But 2021 didn’t bring the much-anticipated change, and many companies operating in the space, including American Cannabis Partners (“ACP”), are looking…

TuesdayFeb 22, 2022 4:20 am

420 with CNW — Canada Set to Launch First In-Airport Marijuana Retail Store

British Columbia’s Prince George Airport may soon host the first in-airport marijuana store in the world. Owen Ritz, the cofounder of Copilot, which is the retail brand that’s spearheading this project, revealed that its airport terminal store would be open by the beginning of summer after store construction was completed and further approvals required from the government were received. In a recent interview, Ritz explained that cannabis was a product that some individuals used to relieve stress and, given that travelling was a stressful experience, the store’s presence would benefit customers who were looking to buy cannabis products and potentially…

FridayFeb 18, 2022 4:20 pm

420 with CNW — Cannabis Flower Still Rules US Market, But Dominance Is Waning

Flower is the largest category for cannabis products on the U.S. cannabis market. However, its influence is slowly waning as the shift in demand for adult-use products grows. Recent sales figures from Headset, a research institute based in Oregon, reveal that the prices for flower are dropping in Colorado, California, Michigan, Oregon, Nevada and Washington state. Data shows that the price per gram of flower dropped in the six states by 14%. In January, the flower fetched around $6.78 per gram, dropping to $5.82 in December. The market share in those six states grew from about $5 billion in 2020…

FridayFeb 18, 2022 9:30 am

Flora Growth Corp. (NASDAQ: FLGC) Focused On Opportunities in the CBD Industry to Scale Operations

Luis Merchan, Flora Growth’s President and CEO, appeared on a webinar on February 11, 2022, highlighting the opportunities and challenges affecting the CBD industry in key markets He has reiterated the company’s commitment to leveraging the industry’s opportunities for the growth of its operations, expansion of its market reach, and value creation for its shareholders The CBD industry is projected to be valued at $20 billion by 2025, and Flora Growth plans to capitalize on this growth In 2020, CBD sales in the United States reached $4.6 billion. It is projected that by 2024, this industry will be valued at…

FridayFeb 18, 2022 4:20 am

420 with CNW — Schumer Urges Senators to Provide Input on Cannabis Legalization Bill

Senate Majority Leader Chuck Schumer is urging fellow legislators to give input on the provisions of a measure to federally legalize cannabis. In a letter addressed to fellow legislators, Schumer, Sen. Cory Booker and Senate Finance Committee Chairman Ron Wyden explained that the continued prohibition of cannabis at the federal level hindered the states’ ability to make their own decisions about marijuana. The letter noted that as more states moved to legalize marijuana for both medical and adult use, the federal government had a crucial role to play. They added that hundreds of millions of people in America lived in…

ThursdayFeb 17, 2022 4:20 pm

420 with CNW — Congress Briefed on Federal Courts’ Varying Interpretations of Marijuana Clause

Lawmakers in Congress have been briefed on a report that shows the varying interpretation of a medical marijuana protection rider. Since 2014, Congress has included provisions in appropriations acts that exclude the U.S. Department of Justice (“DOJ”) funding from being used to prevent states and jurisdictions from enforcing medical marijuana laws. The provision, which is renewed during every financial year, lists a total of 52 jurisdictions and prevents the Justice Department from taking legal actions against these territories. A new report, released on Feb. 4, 2022, from the Congressional Research Service (“CRS”), reveals how federal courts have varyingly interpreted the…

ThursdayFeb 17, 2022 4:20 am

420 with CNW — Factors Hindering Research on Medical Marijuana

The number of states legalizing cannabis for medical and recreational use is growing in the United States. This comes as cannabis product marketing increases, more companies enter the flourishing market and the call for the federal prohibition on cannabis to be removed grows. However, while more research on the therapeutic use of the plant is conducted, many universities and states are finding it hard to carry out as much research on marijuana’s clinical applicability as they want to because of the various hurdles that hinder progression of clinical studies. For instance, the DEA has strict licensing regulations for providers to…

WednesdayFeb 16, 2022 4:20 pm

420 with CNW — Justice Dept. Considering Measures for Safe Drug Consumption Sites

The Department of Justice (“DOJ”) is evaluating the authorization of harm reduction centers for people to use currently illicit drugs in a supervised environment and receive treatment resources. New York City became the first state to launch safe drug consumption sites in November 2021. Then Mayor Bill de Blasio (D-NY) said that the so-called Overdose Prevention Centers are an effective option in addressing the opioid crisis. According to the AP, the sites have prevented 125 overdoses. Advocates are eager to hear the federal government’s response in a lawsuit over a proposal that could see the establishment of similar centers in…

WednesdayFeb 16, 2022 11:25 am

Following Successful Sildenafil Animal Study, Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Plans for More Studies in 2022

Lexaria’s animal study could be the first step to developing faster and better acting sildenafil oral formulations The most prominent study for Lexaria in 2022 is HYPER-H21-4, investigating patented DehydraTECH(TM)-CBD for hypertension and heart disease Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, recently announced positive findings in an animal study that evaluated DehydraTECH(TM) processing of the phosphodiesterase inhibitor (PDE5 inhibitor) sildenafil as potential use for erectile dysfunction management. A clear trend emerged during the course of the study – a faster and higher overall delivery of sildenafil into the bloodstream (https://cnw.fm/SOjPD). During the animal study, it…