420 with CNW – Company Invents CBD Extraction Method Aimed at Bringing Prices Down

While the popularity of cannabidiol (CBD) has been growing, the current price of high-quality CBD oil is so high that it is out of reach for many of the people who need it the most. Draconis Extraction Technology (DET) has come up with a system which will extract crude CBD on an industrial scale and lower the cost of the final product.

The large-scale ethanol extraction process is patented and is set to start being used to avail winterized, full-spectrum de-waxed CBD oil.

Paul Baskis, the person who invented the extraction system says he was driven by a desire to help those who badly need CBD oil but struggle to afford it. He singled out veterans who suffer from different conditions, such as PTSD and anxiety.

Currently, 1,000mg of CBD oil costs $350 on the market and this oil can last approximately 11 days for a person weighing 180 pounds with a recommendation of 5mg for each pound of body weight. How many people can afford such a cost, he wondered.

The technology introduced by DET will make it cheaper for crude CBD oil to be available without sacrificing the quality of the product. Paul Baskis boasts that the crude oil his extraction system will produce is so pure that someone can vape it without seeing any residues in the vape pen.

The other novel thing about this extraction method is that no waste is generated. The oils and waxes removed are also products in their own right. For example, the waxes are sold as raw materials for the cosmetics industry while the pulp is ready to use in the manufacture of bioplastics, paper and fabrics.

The hemp pulp can also be converted into fuel to power the extraction system and the residue from this fuel is a high-quality carbon-based fertilizer.

Max Le Pera, the Vice President of Draconis, explained that the company feels strongly about environmental sustainability and the need for a circular economy in which each section of the company feeds another without causing any adverse effect on the environment.

The example set by DET shows just how far the recently legalized hemp industry can go in terms of offering solutions to the different problems facing the country, such as reviving the economy of rural areas where hemp can be grown.

The unveiling of this new extraction technology must be having industry players like Geyser Brands Inc. (TSX.V: GYSR) and Earth Science Tech Inc. (OTCQB: ETST) imagining how easier things are going to get as more innovators enter the cannabis and hemp space.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – More Pregnant Women Using Marijuana to Treat Morning Sickness

It has been widely reported that marijuana can treat morning sickness, so it isn’t surprising that more women are resorting to cannabis to ease the symptoms of morning sickness during the initial stages of pregnancy. Researchers have found that the number of pregnant women turning to cannabis is higher than it ever was.

The study published in the JAMA journal found that the number of women who use cannabis to deal with morning sickness has more than doubled from just 3.4 percent in 2002 to 7 percent in 2017.

These findings were obtained after analyzing the data collected during the National Survey on Drug Use and Health. The researchers specifically considered the data provided by 4,400 pregnant women as well as 133,900 women who weren’t pregnant.

The study participants had responded to questions regarding their pregnancy status and other questions about their cannabis use habits, if they used cannabis.

This study reveals that women use marijuana for various reasons, both medicinal and recreational. More specifically, the number of women who used marijuana daily or almost daily grew from 0.9 percent to about 3.4 percent.

Notably, the number of women who used marijuana during their first trimester of pregnancy shot up from 1.9 percent to 5.3 percent while those who used the substance during their second trimester rose to 2.5 percent from 0.6 percent in 2002. A similar increase was seen regarding marijuana use during the third trimester (a growth from 0.5 percent to 2.5 percent in 2017).

The researchers noted that while lots of women are turning to cannabis during pregnancy, only a small fraction of those women did so after getting a recommendation from a doctor.

The study also revealed that doctors are uncomfortable recommending marijuana for pregnant women in states where medical marijuana is legal. This reluctance is largely due to the shortage of research on the effects of prenatal marijuana exposure.

In fact, NIDA (the National Institute on Drug Abuse) says the use of marijuana during the first and second trimester of pregnancy has been linked to low birth weight and length, as well as other developmental problems.

The study’s authors emphasized that there is an urgent need to screen all pregnant women for marijuana use and intervene appropriately when risks are detected. The researchers also called for more research to be done to document the effects of marijuana use during pregnancy so that decisions can be made using concrete information on the subject rather than simply asking women to err on the side of caution and abstain.

Analysts think that the cannabis industry, including participants like Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) and ChineseInvestors.com Inc. (OTCQB: CIIX), agrees with the researchers on the matter of research-based recommendations regarding cannabis use by different demographics.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – New York Marijuana Decriminalization Expands as Full Legalization Fails

As plans to legalize marijuana fully appear to have hit a dead end in the New York State legislature, the lawmakers have agreed to expand the decriminalization of the drug in addition to providing for the automatic expungement of low-level cannabis possession convictions across the state.

On Thursday, Senators agreed to treat the possession of up to two ounces of cannabis as an infraction punishable by a $50 fine instead of regarding it as a crime. This measure marks a huge change in a state where thousands of residents have been caught on the wrong side of the law and been incarcerated.

The agreement on the expungement measure comes as a compromise deal after it became apparent that there wouldn’t be enough support to pass a full legalization measure. While legalization has failed, cannabis industry advocates still regard this approved measure as a step forward for the industry.

The bill passed with a 39-23 vote in the Senate as the legislative session dragged beyond its expected end on Wednesday.

Gov. Cuomo, who a couple of years ago called marijuana a “getaway drug” was all praises for the decriminalization measure. He said the measure will give relief to the thousands snared by the state’s criminal justice system because of marijuana.

This isn’t the first time that the State of New York is decriminalizing marijuana possession. In 1977, the state decriminalized the possession of a maximum of 25 grams. The new bill more than doubles that possession limit.

It should be noted that under the new law, the possession of more than 2 ounces of marijuana is still a crime and nothing has changed regarding smoking cannabis in public. It is still forbidden.

All the same, this limited measure is still a victory because New York has been notorious for its restrictive marijuana laws. For example, under the medical marijuana program which was legalized in 2014, smoking medical marijuana isn’t allowed.

Many Senators who spoke during the hearing on the measure were disappointed that the bill didn’t seek to fully legalize marijuana. They cited the fact that medical marijuana has been legal for years as proof that cannabis has some value, so they couldn’t understand why it still remained illegal in the state.

The legislators are also debating a proposal tabled by State Senator Diane Savino to expand the medical cannabis program from its “current overly restrictive design” to something more accommodative.

Republicans, who are now the minority in both legislative chambers in New York State, made futile attempts to block the decriminalization measure, calling it “harmful to people.” It isn’t yet clear how industry players like Chemistree Technology Inc. (CSE: CHM) (OTCQB: CHMJF) and Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) will react to the current cannabis news coming out of Albany.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Congress Votes to Stop Feds from Interfering in State Marijuana Programs

The House of Representatives has voted to block the Department of Justice (DOJ) from using its funds to enforce federal cannabis laws within states which have passed their own laws regulating recreational or medical marijuana cultivation, consumption and sales.

This measure was one of the several amendments put before the floor for inclusion in the appropriations bill for Fiscal Year 2020. The measure, which expands an existing rider that protected medical marijuana programs, was approved on Thursday by a 267-165 vote.

Marijuana industry advocates are convinced that the vote tally reflects the broad support for marijuana law reform, and this support can be used to effect further reforms of the federal marijuana laws.

A day earlier (June 19), the House had also passed another measure seeking to protect the marijuana laws of Indian tribes. This particular measure was passed through a voice vote without any lawmaker asking for a roll call vote. The rider now makes it to the appropriations bill as well.

Rep. McClintock, one of the sponsors of the measure which was approved on Thursday, wrote a letter to members of the House on the day of the vote reminding them that what was at stake was a question on whether the federal government had any authority to dictate on matters of policy regarding an issue which happens within the borders of a state. In his view, which other members appear to have agreed with from the way they voted, the federal government didn’t have that constitutional authority.

Marijuana Policy Project, Drug Policy Alliance, Cannabis Trade Federation, and other marijuana advocacy groups hailed the decision of Congress as historical and a sign that lawmakers in the House of Representatives are waking up to the fact that marijuana law reform “isn’t just good policy but has also become good politics.”

It has emerged that the makers of the only CBD-derived drug to be approved by the FDA wrote to congressional staff telling them that the spending rider before the House should be defeated since it “could interfere with the DOJ’s ability to carry out its regulatory mandate.” The letter from Greenwich Biosciences was seen as being in bad taste since the “Big Pharma” company wanted to protect its interests at the expense of the interests of the people in states with marijuana-friendly laws.

The measures now head to the Appropriations Committee of Senate for consideration, and it isn’t yet clear whether they will be favorably received there. In the past, this committee has consistently approved the spending rider stopping DOJ from interfering in state-level medical marijuana programs. Now that the new amendments include protections for recreational marijuana, the industry isn’t sure how the Republicans in the Senate Committee will react.

Industry analysts are wondering what players like Youngevity International Inc. (NASDAQ: YGYI) and Cannabis Strategic Ventures Inc. (OTCQB: NUGS) would say to the senators if they had a chance to talk to them before they vote on the amendments.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – How Marijuana Legalization Law in Illinois Differs from All Others

If, as is widely expected, Gov. Pritzker signs a bill that was passed to legalize recreational cannabis in Illinois, the state’s legalization law will be different from all others in several aspects.

First, Illinois will have defied the odds to legalize adult-use marijuana legislatively. All the other ten states have done so through voter initiatives. Lawmakers in New Jersey and New York at one time seemed poised to pass bills legalizing recreational marijuana but intraparty disagreements have torpedoed those plans.

Another way in which Illinois’ law is unique is that it contains provisions which are aimed at promoting social equity in the marijuana industry. The law creates a Cannabis Business Development Fund through which minorities will be supported to join the legal industry. $12million has been earmarked for this fund and a fraction of the fees levied on players in the cannabis industry will go to this fund as well.

Additionally, licensing fees will be lowered for applicants from minority communities who wish to start recreational marijuana businesses. Loans will also be given to these “equity” applicants at low interest rates. This will address the longstanding difficulty that members of these communities have always had when it comes to accessing business loans.

The law also stipulates that at least eight community colleges should offer marijuana business education programs by September 2020. A minimum of five of those colleges should enroll at least half of their students from low-income communities since those are the primary beneficiaries of this provision in the law.

Another unique feature of the Illinois law is that 25 percent of the sales tax levied on recreational marijuana sales as well as 25 percent of all other fees levied in the industry will go towards funding a “Restore, Reinvent and Renew” program through which grants will be given for the purpose of combating violence and revitalizing the communities most affected by the war on drugs.

The lawmakers in Illinois didn’t just talk about social justice and equity; they went all out and formulated a law which spells out exactly how these ideals will be brought to life in the state. This law is certainly going to be a model from which other jurisdictions borrow ideas when formulating their own laws.

One has no choice but to believe that the entire marijuana industry, including Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) and The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF), are likely to be pleased by this cannabis news coming out of Illinois.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Medical Marijuana Dispensary Introduces its Own Credit Cards to Reduce Cash Transactions

Columbia Care, a medical marijuana company, has rolled out its own credit card as the cannabis industry struggles to find alternatives to having to deal in cash only.

Just like banks, credit card providers have been reluctant to embrace the marijuana industry because of fears that they would be sanctioned by the federal government since marijuana remains an illegal substance federally.

This has compelled most dispensaries to accept only cash, with ATMs being a frequent sight on the premises of dispensaries. Some dispensaries have designed systems which accept ATM or debit cards for making payments for purchases made.

Columbia Care has been running trials of its credit card in New York and it now plans to roll out this system in Chicago where it has a dispensary within the Jefferson Park neighborhood. Nicolas Vita, the company’s CEO says that patients spend approximately $144 each time they visit the dispensary in Chicago.

He added that the introduction of the credit cards will make it easier for patients to access the medical marijuana products that they need. He singled out patients who have mobility challenges and those who travel long distances to find a dispensary as some of the patients who may buy more products once they have the credit card. Buying more during a single visit reduces the frequency of making trips to purchase replenishments.

To get the credit card, patrons will be asked to use the tablet in the dispensary to fill a form. The credit card will then be processed quickly and the dispensary client will be in position to use that card during that same visit.

Columbia Care revealed that it is working hard to secure intermediaries and financial institutions in all the 12 states where the company has operations. Those partnerships will make it possible for dispensary clients to use the credit card in those other states.

Unlike other credit cards, the one issued by Columbia Care will not attract any fees. Its annual interest rate (15.99 percent) is also lower than the industry average (17.73 percent).

When the credit card was tested in New York, customers bought approximately 18 percent more products when using the credit card when compared to the purchases made when paying cash or using an ATM or debit card.

Other attempts have been made to find alternative ways to receive payments, but some of those methods border on illegality. For example, some companies accept credit cards but the purchases are reflected on credit card statements as spending at a florist’s while other companies ask clients to buy a gift card and then use that gift card to buy marijuana products.

Meanwhile, there has been a recent push by different groups, such as Attorneys General and banking associations, urging Congress to enact legislation bringing marijuana industry money into the banking system.

It would be interesting to know what industry players like Sugarmade Inc. (OTCQB: SGMD) and Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) (FRA: 38G) think about some of the unorthodox payment methods that some marijuana companies have resorted to.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Cannabis Drinks Expo to Features More than 80 Global Exhibitors

  • Cannabis Drinks Expo will offer an opportunity to learn, network and source within the cannabis market
  • Industry experts are expected to collectively examine the benefits of the burgeoning cannabis drinks category
  • Special pricing on conference tickets ends July 10, 2019

Cannabis Drinks Expo by Beverage Trade Network is on the horizon, providing a gateway to the new legalized cannabis category. Taking place Thursday, July 25, 2019, from 9:00 a.m. to 5:00 p.m. at the South San Francisco Conference Center, the expo is expected to be the first event to give the global drinks industry the chance to convene and look at ways to address legalized cannabis. Drinks producers, manufacturers, brand owners, distilleries and brewers are set to assemble at the expo to discuss and examine ways that they can benefit from this growing category. The Beverage Trade Network (BTN) organizes events for the alcoholic beverage trade worldwide.

A trade-only event, the focus of the Cannabis Drinks Expo is growing businesses and strengthening bottom lines. The event will provide brand owners, distilleries and breweries with the…

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Acquisitions, Licenses, Research Key in Consistent Cannabis Market Growth

CannabisNewsWire Editorial Coverage: The cannabis sector continues its steady shift toward big business and big money, with much of growth based on acquisitions, agreements and consistent research.

TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) (TCAN Profile) is focused on creating a large operation with various licenses and recognized brands, with several key acquisitions, being part of that strategy. Medmen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) is in the process of acquiring PharmaCann, which recently received an extension to complete the development of its cultivation facility in Ohio. Cronos Group Inc. (TSX: CRON) (NASDAQ: CRON) just entered into a multiyear supply agreement that will help the company provide high-quality products to consumers in anticipation of the derivative market launching in Canada this fall. Tilray Inc. (NASDAQ: TLRY) recently completed its acquisition of Manitoba Harvest, the largest hemp food company. GW Pharmaceuticals Plc (NASDAQ: GWPH) continues its march forward as a leader in cannabinoid prescription medicines sector with its recent announcement of positive, top-line results of a Phase 3 clinical trial of Epidiolex® in the treatment of seizures associated with…

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420 with CNW – Texas Governor Signs Bill to Expand Medical Marijuana Program

On Friday last week (June 14), Gov. Greg Abbott signed a bill that is focused on increasing the number of qualifying conditions for which patients can be licensed to use medical marijuana in the state.

House Bill 3703 gives doctors permission to recommend any patient who suffers from seizure disorders (intractable epilepsy, for example), spasticity, Parkinson’s, multiple sclerosis, autism and several other conditions to access medical marijuana whose THC content doesn’t exceed 0.5 percent from the dispensaries licensed by the state.

Joshua Raine, an Army veteran suffering from post-traumatic stress disorder, is one of the patients who pleaded with legislators to include PTSD among the qualifying conditions for which someone can use medical marijuana.

He told the lawmakers that he has lost more friends (who are veterans) to suicide induced by PTSD than the number of friends he lost during combat operations. He admitted that without medical marijuana, he too could have committed suicide.

Blake Novacek is another patient who is likely to benefit from the enactment of this law. He was attacked violently during a fraternity pledge and that attack caused him to develop seizures. In fact, while waiting to talk to legislators during the debate on the medical marijuana expansion bill, Novacek started convulsing violently as the gravity of his situation showed itself at the state Capitol.

His father (a former Dallas Cowboys player) and mother pleaded to be given a chance to access medical cannabis legally so that they can save the life of their son. In the past, cannabis has helped massively, they added.

Texas is one of the most conservative states in terms of marijuana policy reform. The marijuana program in this state is so restrictive that the only form of medical cannabis allowed is cannabis oil whose THC content is much lower than what advocates say is required for therapeutic purposes.

Nonetheless, advocates are glad that the state has taken this modest step to expand the list of qualifying conditions from the very narrow version which has existed since low-THC cannabis oil was legalized as a form of treatment. Activists hope that more incremental reforms will be enacted until Texas’ medical marijuana program is at par with programs in other states.

Many Texans keep wondering how companies like The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) and The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF) handle the frustration of thinking that a major decision was made without paying ample attention to the scientific information available but instead unfounded fears took the day.

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420 with CNW – Canadian Companies Forced to Delay Launching “Cannabis 2.0” Products

The effects of the longstanding cannabis shortages in Canada are being felt far beyond the empty shelves in retail outlets. When recreational marijuana was legalized on October 17, 2018, a promise was made that marijuana edibles, vapes, CBD and beverages (so-called cannabis 2.0 products) would be available for purchase exactly one year later. Now the regulator has delayed the start of retail sales of those products citing a procedural requirement for the producers.

Health Canada, the regulator of the marijuana industry in Canada, held a briefing on Friday, June 14 in which the regulator informed the public that there would be a delay in rolling out the “cannabis 2.0” products for another two months.

Health Canada mentioned that while its rules would start being operational on October 17, it wouldn’t be possible for any edibles or other “2.0 products” to be sold until at least two months later. This is because the manufacturers of those products will start filing notices with the regulator of the products being brought to market and those manufacturers must then wait for a minimum of 60 days before starting to ship the products to the retail outlets.

It is believed that the 60-day window will allow the regulator to scrutinize those products and approve those which meet all the requirements in the law. In effect, retail sales will begin on Dec. 17 or thereafter.

The revenue generated from cannabis edibles and other second-generation marijuana products will not be reflected in the earnings of the fourth quarter (Q4) of this year. Instead, those figures will only become meaningful at the end of Q1 of 2020.

Canadian companies like Aurora Cannabis and Canopy Growth had been looking forward to launching the sale of these products because those products have performed excellently in the U.S. states which permit their sale.

These Canadian companies are therefore going to have no choice but to revise their revenue projections for Q4 of 2019 to reflect this delay to bring edibles, beverages and other “second-wave” marijuana products to the market.

On the other hand, marijuana companies shouldn’t be too concerned by the delay unless the cannabis 2.0 products were going to carry a bigger profit margin than the smokable flower which is chronically sold out at retail outlets.

Analysts are eager to know what marijuana industry players like VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) and TransCanna Holdings Inc. (CSE: TCAN) (FRA: TH8) have to say about this latest announcement by Health Canada.

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