NewsRoom Articles - Page 264 of 600

ThursdayJun 03, 2021 4:20 am

420 with CNW — Report Finds Legal Cannabis Sales Have Raked in $8 Billion in Taxes

The young but fast-growing state-legal cannabis industry has proven to be quite a lucrative space. While opponents of cannabis reform offered a slew of reasons against legalizing cannabis such as increased drug use and criminal activity, statistics have proven them wrong. Not only has legal adult-use cannabis created more than 200,000 new job opportunities, becoming one of the fastest-growing job markets in the country, but it has also provided states with billions of dollars in tax revenue. According to a recent report from the Marijuana Policy Project (“MPP”), recreational cannabis has earned states close to $8 billion in tax revenue…

WednesdayJun 02, 2021 4:20 pm

420 with CNW — Wyoming Supreme Court Admonishes Prosecutor for Allowing False Testimony to Be Presented in Court

The Supreme Court in the state of Wyoming has admonished an attorney in Cheyenne for permitting a DCI agent to make a false testimony in a case against hemp growers. Last year during a hearing of the case, Special Agent Jon Briggs of the Division of Criminal Investigation gave a false testimony about an exchange he had with one of the defendants when officers conducted a raid on the operation. The defendant, a contract farmer by the name of Brock Dyke, presented to the agent test results that showed that the hemp crop was legal during the raid, which took…

WednesdayJun 02, 2021 9:15 am

XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) Beginning 2021 Strong with New Drugs and Life Sciences Advancements

Promising results have been recorded in the first pilot study of a Rotigotine skin patch for Parkinson’s patients Wholly owned subsidiary Vektor is reaching a major milestone in the development of Rotigotine with the potential for a pivotal human trial The company is planning the construction of a new lab and manufacturing space up to 32,000 square feet in Biberach, Germany Pilot project involving rapid COVID-19 PCR tests has been initiated in Germany, promising efficacy and accuracy of results in as little as 25 minutes XPhyto is currently in talks and negotiations with distribution and wholesale partners, with a potential…

WednesdayJun 02, 2021 4:20 am

420 with CNW — Cannabis Sector Expected to Boost US Economy by $92 Billion in 2021

According to an analysis published by MJBizFactbook, the cannabis sector is projected to add approximately $92 billion to the general U.S. economy this year. This figure was arrived at after crunching the numbers on the marijuana taxes and fees, jobs created, demand for real estate, and other knock-on factors. This projected impact of the cannabis industry would mark an increase of about 30 percent from the total impact of the sector upon the economy in 2020. In 2025, the broader U.S. economy will see a boost of $160 billion from this industry, according to the analysts. To arrive at the…

TuesdayJun 01, 2021 4:20 pm

420 with CNW — 4 Powerful Lessons Marijuana Extractors Learned During the Pandemic

When the Covid-19 pandemic broke out, the hemp and marijuana industries took a huge hit because they relied on overseas sources, particularly China, for everything ranging from processing equipment to cartridges and even carrier oils. If marijuana processors were to stay in business, they needed to change things fast. We discuss below some of the key lessons that extractors learned as the pandemic raged on. Diversifying Supply Sources Clear Cannabis, a Denver-based manufacturer of CBD and THC concentrates, saw its supply chains disrupted in a major way. The board chair, Richard Batenburg, explains that they had to take a hard…

TuesdayJun 01, 2021 12:41 pm

Chalice Brands Ltd. (CSE: CHAL) (OTCQB: GLDFF) Leadership Team Working to Deliver on Show-Me Story

Quarter growth, cash flow key metrics indicate company moving in the right direction Chalice reported record quarterly revenues from continuing operations of $5.5 million, increase in gross profit margin “Continued profitable operations and accretive acquisitions should set us up for a record-breaking second half of 2021,” says CEO In a past Bloomberg video interview, Stonecastle Investment Management president Bruce Campbell commented on Golden Leaf Holdings (https://cnw.fm/qtYSM), a premier consumer-driven cannabis company that earlier this month finalized a name change to Chalice Brands (CSE: CHAL) (OTCQB: GLDFF). In his comments, Campbell outlined what he felt needed to happen in order for…

TuesdayJun 01, 2021 12:21 pm

Pac Roots Cannabis Corp.’s (CSE: PACR) (OTCQB: PACRF) (FSE: 4XM) Relentless Focus on Quality Begins to Pay Dividends

Recreational marijuana sales in Canada have been slow to take off despite legalization in October 2018 but look to be on the rise A survey carried out in February 2021 revealed that 40% of Canadian marijuana consumers still resorted to illegal means to obtain product due to poor quality of legal marijuana, lack of stock at retail outlets Pac Roots Cannabis seeks to avoid peers’ fate through relentless focus on premium-quality strains, coupled with strategic licensing agreement with Phenome One Corp Earlier this year, Canada’s legal market was shown to have finally overtaken illicit sales, commanding 56% of sector turnover…

TuesdayJun 01, 2021 9:00 am

Green Hygienics Holdings Inc. (GRYN) Joins Forces with Mexican Scientific Body, Creates New Company to Research Endocannabinoid Deficiencies

Green Hygienics has launched TruLife Biotech LLC. to focus on the development and advancement of innovative cannabinoid-based nutraceutical and skincare products and brands The global industrial hemp market was valued at $5.66 billion in 2020 and is expected to reach a value of $27.72 billion by 2028, growing at a CAGR of 25.17% Hemp-derived cannabinoids have been studied for the last 20 years with nothing more than pre-clinical data but the new collaboration with Cinvestav and the creation of TruLife Biotech can help answer these questions and develop the products necessary for ECS deficiencies Green Hygienics Holdings (OTCQB: GRYN), a…

TuesdayJun 01, 2021 4:20 am

420 with CNW — Missouri Legislators Advance Medical Cannabis Tax Deduction Bill to Governor’s Desk

In 2018, voters in the state of Missouri legalized medical cannabis. Despite this, the sale, distribution and cultivation of cannabis is still illegal in the state under federal law. This has created some challenges for the infant industry. For instance, cannabis companies in the state aren’t allowed to deduct business expenses on their taxes, despite being legal businesses. During a Senate hearing held earlier in this year, Senator Denny Hoskins raised the issue, noting that cannabis business owners who weren’t allowed to deduct business expenses on their tax returns had to pay significantly higher taxes. In the legislative session that…

FridayMay 28, 2021 4:20 pm

420 with CNW — New Study Suggests CBD Could Reduce Consumption of Alcohol

Cannabidiol (“CBD”) is one of more than 100 chemical compounds called cannabinoids, which are produced in the cannabis family. You've probably heard of THC (delta-9 tetrahydrocannabinol), the main psychoactive component responsible for cannabis' intoxicating effects. CBD, on the other hand, is not psychoactive, although studies have found that this cannabinoid is capable of alleviating a variety of medical conditions. While the research behind CBD's medical claims is limited, initial results have been quite promising, which has led to increased scientific interest in CBD's abilities. One of the more recent studies has uncovered something that could have wide-ranging implications for millions…

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