NewsRoom Articles - Page 269 of 606

MondayJun 07, 2021 4:20 am

420 with CNW — Federal Report Says Youth Cannabis Use Stable Despite State-Level Legalization

Most opponents of cannabis reform had one argument against pro-cannabis legislation: passing state-level recreational cannabis bills would inevitably lead to increased use among the youth. They argued that marijuana was a gateway drug and that by making the controversial plant more accessible, states would see their youth use marijuana and other “hard drugs” at much higher rates. However, most studies have found the situation on the ground to be entirely different, with rates of youth use in states with recreational cannabis markets remaining the same and, in some cases, even going down. A recent federal report from the U.S. Department…

FridayJun 04, 2021 4:20 pm

420 with CNW — Legislation to Federally Legalize Cannabis Reintroduced in the House

Last week, a legislation to promote social equity in the cannabis industry and federally legalize cannabis was tabled in the House. The bill was filed with some amendments and was sponsored by Jerrold Nadler, chair of the Judiciary Committee. The legislation would establish a federal tax on cannabis with revenue generated being allocated to support various programs and community reinvestment, allow individuals with marijuana convictions to have their records expunged, and remove cannabis from the Controlled Substances Act. The Marijuana Opportunity, Reinvestment and Expungement Act (“MORE”), which didn’t advance in the Senate during the last legislative term, was approved in…

FridayJun 04, 2021 9:30 am

Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Opens Direct-To-Consumer Amazon Store under Pure Mushrooms Brand

PULL subsidiary Pure Mushrooms Corp. opens direct-to-consumer e-Commerce store on Amazon platform Store features Reishi, Maitake formulations with plans to add Lion’s Mane in summer 2021 Global functional mushroom market valued at $25.4 billion in 2020, expected CAGR of 8.44% from 2021-2026 Company expands psychedelic vertical through letter of intent with Psyence Group to co-produce psychedelic mushroom-based psilocybin formulations Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, recently announced that Pure Mushrooms Corp., its wholly owned subsidiary, has opened a direct-to-consumer, e-Commerce store…

FridayJun 04, 2021 4:20 am

420 with CNW — Smokable Medical Cannabis Bill Enacted into Law in Minnesota

Although more than 30 states have passed legislation allowing the use of marijuana for medical purposes, the language in each of these medical cannabis bills varies widely. But one provision that several of these states share is a ban against smokable medical marijuana, forcing qualified patients to use other forms of consumption such as oils and tinctures. In Minnesota, however, patients will soon be able to access smokable medical cannabis after the governor signed a large-scale bill that expanded the state's medical marijuana program. Among other things, this bill includes provisions that grant medical marijuana patients access to smokable products.…

ThursdayJun 03, 2021 4:20 pm

420 with CNW — Illinois Cannabis Equity Licensing Bill Passed by House

Last week, a bill to create new cannabis dispensary licenses in the state of Illinois was approved by the House. The bill, HB 1443, was sponsored by Rep. La Shawn Ford and will be used to address the shortcomings of the Cannabis Regulation and Tax Act of 2019, specifically the license lottery that has been delayed by legal disputes, controversy and the coronavirus pandemic, for more than a year. The measure would establish a pair of new cannabis dispensary lotteries, providing more than 50 licenses while addressing concerns about the initial 75 licenses cited in the 2019 legislation. The initiative…

ThursdayJun 03, 2021 9:30 am

Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Notes Impressive Advancement in Cannabis, Functional Mushrooms, Psilocybin Spaces

Pure Extracts’ BC facility is fully operational, ready to meet increasing demand for cannabis-based gummies, vapes, white label products Company’s involvement in functional, psychoactive mushrooms space is also gaining steam Pure Extracts’ current R&D focus is on psychoactive mushroom compounds Although the global pandemic extended its sales cycle, Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) is seeing interest from producers and brands looking for new opportunities and partnerships. Pure Extracts’ CEO Ben Nikolaevsky recently released a corporate update focused on three main points of interest — cannabis, functional mushrooms and psilocybin — in its growing business (https://cnw.fm/p7hBL). The update noted…

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…

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