NewsRoom Articles - Page 74 of 596

FridayDec 22, 2023 4:20 pm

420 with CNW — Think Tank Says Legalizing Cannabis Federally Could Generate $8.5B in Taxes

A recent analysis from the Tax Foundation, a Washington, D.C.-based nonprofit think tank, suggests that the nationwide legalization of cannabis across all states could significantly boost annual cannabis tax revenue, projecting it to reach $8.5 billion. The foundation proposes a comprehensive federal and state taxation model for cannabis, aiming to keep costs low to discourage illicit sales while advocating for higher tax rates on more potent marijuana products. The current state-by-state approach to marijuana taxation, according to the report, is chaotic. Therefore, there is a need for a reevaluation of the existing framework considering both public health and revenue implications.…

FridayDec 22, 2023 4:20 am

420 with CNW — Federal Survey Reaffirms State-Level Cannabis Legalization Hasn’t Changed Teen Use Patterns

A new survey has determined that the use of marijuana in teens hasn’t increased even as more states legalize the drug’s use across the country. The survey was funded by the National Institute on Drug Abuse (NIDA) and carried out by researchers at the University of Michigan. It determined that rates of past-year marijuana use remained stable for all grades that took part in the survey, even as more cannabis markets opened and expanded for adults countrywide. During a webinar last week, NIDA’s chief of epidemiological research Marsha Lopez stated that no significant increases had been observed with no increase…

ThursdayDec 21, 2023 4:20 pm

420 with CNW — Pilot Project for Marijuana Legalization Starts in Netherlands

For years, Dutch coffee shops have functioned in a system where cannabis sale was permitted, but its growth remained illegal. This led to a lack of transparency for consumers, leaving them unaware of the origins, growers and conditions under which the products they purchased were cultivated. However, that will soon change as the government initiates a marijuana legalization pilot project. The initial phase of a closed-chain experiment, designed to deliver marijuana from legally sanctioned cultivation to coffee shops commenced on Dec. 15, 2023. The current timeline indicates that two authorized producers will be prepared to supply coffee shops in the…

ThursdayDec 21, 2023 10:30 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) To File its IND Application with the FDA for its planned U.S. Phase 1b Hypertension Clinical Trial

Lexaria, a global innovator in drug delivery platforms, expects to submit its IND application for its planned U.S. Phase 1b Hypertension Clinical Trial with the FDA within the next 45 days The HYPER-H23-1 clinical study will build on five successful human clinical trials conducted so far, studying the company’s patented DehydraTECH(TM)-processed CBD in an aggregate total of 134 individuals Lexaria’s patented DehydraTECH(TM) “drug delivery platform technology” increases bioavailability, improving the way active pharmaceutical ingredients (“APIs”) enter the bloodstream Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced that it anticipates submitting its Investigational New Drug (“IND”)…

ThursdayDec 21, 2023 8:54 am

HEMP BioSciences Inc. a Wholly-owned Division of WEED Inc. Receives Full Suite of Industrial Hemp Licenses From State of Arizona

WEED Inc. subsidiary will begin buildout of its cGMP certified kitchen to begin manufacturing of consumer-packaged goods TUCSON, Ariz., Dec. 21, 2023 (GLOBE NEWSWIRE) — via IBN – WEED Inc. (OTCQB: BUDZ), (“WEED,” “HEMP” or the “Company”), a global cannabis and hemp bioresearch company based in the U.S. focused on the development and application of cannabis–derived compounds for the treatment of human and animal diseases, announces today that it intends to expand into consumer packaged goods utilizing the Company’s rare Landrace strains including Original Panama Red, Acapulco Gold, Red Bud Colombian and Santa Marta Gold. WEED Inc aims to shape…

ThursdayDec 21, 2023 4:20 am

420 with CNW — Marijuana Professionals Foresee Bumpy, Exciting 2024

After the post-pandemic downturn caused many businesses in the cannabis industry to struggle, many marijuana professionals are now predicting a more lucrative 2024. The post-COVID period saw the addition of several more states to America’s nascent marijuana industry, and the country made significant strides in its efforts to legalize marijuana at the federal level. In addition, President Joe Biden issued a mass pardon for marijuana offenders, and his administration has indicated that it is seriously considering rescheduling the controversial plant at the federal level. Industry professionals are now looking at 2024 with renewed optimism even though the state-legal cannabis industry…

WednesdayDec 20, 2023 4:20 pm

420 with CNW — Missouri Expunges 100K Marijuana Cases in Year One of Legal Cannabis Sales

Recent data shows that officials in the state of Missouri have thus far expunged more than 100,000 cannabis cases from court records. Under the law, misdemeanors had to be automatically expunged by June 8, 2023, and felonies had to be cleared by Dec. 8, 2023. The deadline for felony expungements, which lapsed last week, wasn’t met by all courts, however, with clerks still reviewing decades of old cases. In an interview, Dan Viets, a lawyer and coordinator of Missouri NORML, stated that courts would need additional time to finish the task and noted that it could be years before all…

WednesdayDec 20, 2023 4:20 am

420 with CNW — Data Shows Arizona Exceeded $1B in 2023 Cannabis Sales in September

September saw Arizona’s marijuana sales surpass $1 billion for the year following a pattern that both recreational and medical markets seemed to have stabilized over the previous few months. The state’s revenue department (ADOR) data for August and September reveals a consistent pattern, with medical sales remaining around one-third of recreational sales. September’s medical sales were marginally below $27 million, down from $28.7 million in August. This represents the lowest in medical sales since the legalization of recreational marijuana in 2021. The last time medical sales surpassed $30 million was in June, and they have been consistently declining from the…

TuesdayDec 19, 2023 4:20 pm

420 with CNW — New York Regulators Give MSOs Nod to Enter Recreational Cannabis Market

In a significant development, multistate operators holding medical cannabis licenses in New York have received approval from state regulators to venture into the adult-use market starting Dec. 29, 2023. This approval comes one year after the state initiated recreational marijuana sales, signaling a notable progression in the unfolding narrative of New York’s adult-use cannabis sector. The decision by the Marijuana Control Board (CCB) has long been anticipated, and it represents a pivotal moment that has sparked controversy throughout the rollout of the state’s recreational marijuana market. This move follows a ruling by the New York State Supreme Court on Dec.…

TuesdayDec 19, 2023 4:20 am

420 with CNW — Limited Product Range Hampers Recreational Cannabis Sales in Connecticut

The recreational cannabis market in Connecticut has hit a snag less than a year after it was launched. At the time of its launch, the market had 13 retail outlets. However, latest figures show that overall sales of recreational as well as medical marijuana have dipped, which isn’t common for a new market. Total marijuana sales from October dropped from the $25.2 million recorded the previous month to $24.8 million. Recreational sales made up roughly $14.7 million of the total sales, with state data showing that since August, recreational sales had risen by only 5%. Experts attribute this decline in…

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