NewsRoom Articles - Page 293 of 591

FridayDec 04, 2020 4:20 pm

420 with CNW — State Officials in California Announce Great Cannabis Sales

Recent data on cannabis sales in the state of California shows that sales have been doing well despite the pandemic situation. The California Legislative Analyst’s Office (LAO) released a report this week noting that sales figures recorded during summer and revised numbers from 2019 show that the market has grown. This trend has also been observed in various states that have legalized marijuana such as Oregon and Illinois. LAO estimates that the state of California gathered nearly $41 million of cannabis cultivation fees and $160 million in cannabis tax revenue in the July–September quarter of the 2020/2021 fiscal year. The…

FridayDec 04, 2020 10:30 am

CannAssist International Corp. (CNSC) Is ‘One to Watch’

In July 2020, CannAssist International became among the first U.S.-based CBD companies to have its securities listed for trading onto a U.S. public capital market Xceptor Labs uses proprietary technology to create CBD products that it believes have better absorption than currently marketed oil-based products The company currently has five creams that utilize ingredients with National Drug Codes that are registered with the FDA The company’s Xceptol line of topical pain cream products, formulated using its proprietary CiBiDinol technology, was launched in September 2020. The company has since added capsules and, very soon, tinctures and pet drops The company’s marketing…

FridayDec 04, 2020 4:20 am

420 with CNW — NJ Court Tells Marijuana Regulators to Revise Licensing System

In December 2018, the New Jersey Department of Health issued six new medical cannabis licenses, effectively doubling the state’s medical-marijuana program. Gov. Phil Murphy had called for the expansion of New Jersey’s medical cannabis program, resulting in the addition of 20,000 medical cannabis patients. The six vertically integrated dispensaries were meant to beef up the state’s supply of high-quality marijuana as existing dispensaries were struggling to meet the increased demand. However, a group of seven applicants whose license applications were rejected sued the state, arguing that the system used to issue licenses was riddled with irregularities. Joshua Baucher, an attorney…

ThursdayDec 03, 2020 4:20 pm

420 with CNW — How the South Dakota Criminal Justice Sector Could Be Impacted after Cannabis Legalization

Drug reform was one of the biggest winners of the November ballot. Several states legalized either recreational or medical cannabis, with Oregon going a step further and decriminalizing all drugs. In South Dakota, voters approved two cannabis ballot initiatives: Amendment A, a constitutional amendment that will allow people aged 21 and older to possess and distribute up to an ounce of cannabis, and Measure 26, a medical cannabis initiative that would allow patients with debilitating conditions to possess and purchase up to three ounces of cannabis from a licensed dispensary. The measure to legalize recreational use will become law on…

ThursdayDec 03, 2020 4:20 am

420 with CNW — Researchers Develop Saliva Test for Marijuana to Detect Impaired Drivers

People who consume alcohol in the United States are often stopped on the roadsides and asked to take breathalyzer tests. If an individual’s blood alcohol content exceeds a specified limit, they may be subjected to penalties, fines and tickets; they could even be arrested. On the other hand, marijuana does not currently have an intoxication test, which makes it harder for authorities to determine individuals who may have exceeded the limit and are driving while impaired. Researchers have, however, reported that they are on the verge of a breakthrough, developing a saliva test to help measure marijuana levels at roadside…

WednesdayDec 02, 2020 4:20 pm

420 with CNW — Congressional Researchers Say Upcoming Vote on Marijuana Legalization Could Reverse Policy Gap

This week, the U.S. House of Representatives will vote on a historic bill that would federally de-schedule cannabis. Sponsored by Judiciary Committee Chairman Jerrold Nadler, the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act would remove cannabis from Schedule I of the Controlled Substances Act, expunge the criminal records of people with prior marijuana convictions and impose a 5% sales tax on the substance; that tax revenue will be reinvested into the communities most significantly impacted by the “war on drugs.” Not only will the bill decriminalize cannabis, but it could very well reverse the policy gap that currently exists between…

WednesdayDec 02, 2020 11:30 am

Gage Cannabis Co. Strengthening Presence in Exploding Michigan Market

State recreational marijuana market on track to top $1 billion Michigan could be fastest-growing recreational market per capita outside of California Gage’s current portfolio features 19 Class C cultivation licenses across four cultivation assets, three processing licenses In only one year, Michigan’s new recreational marijuana market is projected to reach — and exceed — $1 billion, second only to California (https://cnw.fm/ewISo). That is good news for Gage Cannabis, a leading vertically integrated operator in the cannabis industry focused exclusively on the Michigan market. "It really is just explosive growth in Michigan," said Sloane Barbour, the chief revenue officer of cannabis industry…

WednesdayDec 02, 2020 10:00 am

Pure Extracts Technologies Corp. (CSE: PULL) Issues Corporate Update Detailing Operations, Product Strategy and Market Conditions

Pure Extracts is a plant-based extraction company located in British Columbia, Canada that focuses on cannabis, hemp, functional mushrooms Pure Extracts’ “Pure Pulls” and “Pure Mushrooms’” branded products expected to be available by end of Q1 2021 Global cannabis extract market size expected to reach USD$28.5 billion by 2027 with CAGR of 16.6%; global functional mushrooms market expected to reach USD$34.3 billion by 2024 with CAGR of 8% Pure Extracts Technologies (CSE: PULL), a plant-based extraction company focused on cannabis, hemp and functional mushrooms, recently released a corporate update for shareholders and interested investors that provides current information on the…

WednesdayDec 02, 2020 4:20 am

420 with CNW — Massachusetts Reaches $1-Billion Milestone in Marijuana Sales

Despite the life-changing events of 2020, the U.S. cannabis industry has remained relatively stable. When the coronavirus pandemic broke out, several industries essentially shut down while others limped on with ever-dwindling revenues, resulting in the worst financial crisis the United States has seen since the Great Depression. One of the few industries deemed “essential,” the relatively young marijuana industry continued operating in spite of the lockdown orders and consistently broke sales records month over month. Cannabis sales in Massachusetts have officially surpassed $1 billion since the recreational cannabis market was launched two years ago on Nov. 20, 2018, says the…

TuesdayDec 01, 2020 4:20 pm

420 with CNW — North Macedonia Could Be Joining the Legalize-Cannabis Bandwagon

Prime Minister Zoran Zaev of North Macedonia stated recently that the government is deliberating about whether to allow the recreational use of cannabis in places frequented by tourists, such as Ohrid, the biggest city on Lake Ohrid, as well as in hospitality places and cafes in the country's capital, Skopje. If the decision is agreed upon, this will make North Macedonia the first country among the Balkans to authorize the recreational use of cannabis. The government plans to use Amsterdam as its model, with plans of implementing strict rules to govern the sector. In an interview with Deutsche Welle, the…