NewsRoom Articles - Page 91 of 592

WednesdayAug 09, 2023 4:20 pm

420 with CNW — NYC Ranks First Globally Among Cannabis-Consuming Cities

A recent study reveals that New York City stands as the global leader in marijuana consumption, surpassing all other cities with an annual intake of 62.3 metric tons, equivalent to around 137,000 pounds. Conducted under the title "2023 Global Marijuana Price Index," this comprehensive research effort was orchestrated by the CFAH, a reputable source for health-related information. The meticulous data collection spanned 140 urban centers worldwide, analyzing marijuana pricing trends. The CFAH team closely scrutinized nations at the extremes of marijuana consumption, a criterion that aided in narrowing down the selection of cities for the study. The legal framework for…

WednesdayAug 09, 2023 4:20 am

420 with CNW — DEA Chief Promises to Ask DHS for Cannabis Scheduling Review Timeline

Anne Milgram, chief of the Drug Enforcement Administration (DEA), has promised to speak to the U.S. Department of Health and Human Services about the timeline for conducting a review of marijuana’s status at the federal level. Milgram made the statement during a recent DEA oversight meeting where she was questioned by the House Judiciary Subcommittee on Crime and Federal Government Surveillance. Unlike most industries, cannabis exists in a precarious landscape where dozens of states allow medical and recreational marijuana-related commerce, but federal law still considers cannabis as a Schedule I controlled substance. This federal classification presents several challenges to companies…

TuesdayAug 08, 2023 4:20 pm

420 with CNW — Marijuana Companies Columbia Care, Cresco Labs Announce Termination of Proposed Merger

Marijuana producers Columbia Care Inc. and Cresco Labs have announced the termination of a $2 billion merger between the two companies. First announced in March 2022, the merger would have seen Cresco Labs buy Columbia Care for $2 billion in an historic deal that would have resulted in the largest marijuana producer in the country. Executives from Cresco noted at the time that the resulting company had the potential to be as large as Johnnie Walker or Coca-Cola and dominate the increasingly lucrative cannabis industry. The merger was a major bet on the growth and future of the cannabis industry.…

TuesdayAug 08, 2023 9:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Celebrates ‘Strategically Important’ New Patent Granted in the US

Lexaria recently celebrated the receipt of its 35th overall granted patent worldwide when the USPTO recently awarded US patent #11,700,875, titled “Compositions and Methods For Sublingual Delivery of Nicotine” The company described the new patent as “strategically important” The patent positions the company to tap into the growing oral nicotine market and offers protection in one of the world’s leading oral nicotine markets This patent could also lead to additional subsequent patents from within this family Lexaria’s DehydraTECH-nicotine formulation is patent granted for oral nicotine delivery in the US, Canada, and Australia When Lexaria Bioscience (NASDAQ: LEXX), a global innovator…

TuesdayAug 08, 2023 4:20 am

420 with CNW — Idaho Campaigners Continue Gathering Signatures to Put Cannabis on Next Year’s Ballot

In the border regions between Idaho and Oregon, there exist stark differences in cannabis legislation. While Oregon allows for the legal purchase of cannabis, Idaho stands as one of the few states that have yet to adopt any form of legalized cannabis. Amid this backdrop, an organization known as Kind Idaho is firmly devoted to championing cannabis's potential as a medicinal solution. Led by Joe Evans, the treasurer of Kind Idaho, the political action committee and nonprofit organization, founded in 2021, is unwaveringly committed to the cause of medical cannabis legalization. Evans clarifies that the group’s sole focus is on…

MondayAug 07, 2023 4:20 pm

420 with CNW — Concerns Raised as Massachusetts Announces Marijuana Testing Overseer

The background of Massachusetts' marijuana testing director has sparked concern among industry observers, who are already cautious about the state's treatment of marijuana companies. James Kocis assumed the role of director of testing on the state’s Cannabis Control Commission (CCC) in October 2022, following years of experience in the marijuana testing sector. During a recent legislative hearing, a lobbyist representing local testing labs criticized the CCC for being unaccountable and unpredictable. Additionally, a testing industry executive raised concerns about "a significant issue" of marijuana businesses seeking favorable lab results, questioning the wisdom of hiring a former lab employee to address…

MondayAug 07, 2023 4:20 am

420 with CNW — MasterCard’s Ban on Marijuana Transactions Shakes Industry

America’s state-legal marijuana industry has been left reeling after MasterCard banned the use of its debit cards in cannabis-related transactions. Players in the industry were left shocked after MasterCard demanded that payment processors and banks immediately cease marijuana transactions using the company’s debit card, sending an already fragile industry into chaos. Both medical marijuana and recreational cannabis retailers and their customers will undoubtedly be affected by the ban, with retailers likely being forced to go back to cash-only transactions. Marijuana’s illegal status at the federal level comes with several major limitations, chief of them being that cannabis businesses have little…

FridayAug 04, 2023 4:20 pm

420 with CNW — Washington State Announces Online Portal to Process Reimbursements for Illegal Drug Prosecutions

Washington State recently announced an online portal aimed at facilitating the payment of legal fees for those who were charged with crimes under drug criminalization statutes that were later ruled illegal by the state Supreme Court in 2021. The newly established Blake Refund Bureau website, initiated by the state AOC, is a collaborative effort involving public defenders, courts, advocates, prosecutors, county clerks and other stakeholders. The site’s primary objective is to provide relief to those impacted by the shortcomings in the state's drug possession charges penal code. The court determined that the existing statutes may potentially criminalize accidental possession because…

FridayAug 04, 2023 9:00 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Incorporates New Subsidiary, Lexaria Nutraceutical Corp., for Non-Pharmaceutical, Non-Nicotine, and Non-Cannabis DehydraTECH(TM) Formulations

Lexaria Nutraceutical Corp. will keep Lexaria’s overall strategy of maximizing the company’s patented DehydraTECH(TM) technology in various markets, excluding pharmaceutical, nicotine, and cannabis molecules Lexaria Pharmaceutical Corp.’s licensing was amended so as to solely focus on pharmaceutical formulations excluding nicotine Lexaria announced in early May that its nicotine trial, NIC-H22-1, had completed dosing with results expected in the near future NIC-H22-1 is anticipated to intercede the oral nicotine pouch market, which had a global value of $2.33 billion in 2020, and is expected to grow to $21.84 billion by 2027 Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug…

FridayAug 04, 2023 4:20 am

420 with CNW — Congressional Committee Leaders Call for Expert Guidance Regarding CBD Regulation

Bipartisan congressional committee leaders are calling on experts to offer guidance on best practices for building a framework to regulate America’s CBD industry. This call comes amid increased pressure on the U.S. Food and Drug Administration to start regulating the nearly five-year-old industry that was built on the passage of the 2018 Farm Bill. The Farm Bill legalized the cultivation and sale of industrial hemp, which it defined as cannabis with less than 0.3% THC, and its derivatives under state or tribal programs. This led to the birth of the CBD industry, a sector that quickly began making millions on…

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