Turning Point Brands Announces Third Quarter 2023 Results and Closing of New ABL Facility
Ohio’s Medical Cannabis Market to Reach $520 Million in 2023, According to BDSA
Ohio votes to legalize marijuana for adult recreational use, becoming 24th state to do so
By Julie Carr Smyth
COLUMBUS, Ohio (AP) — Ohio voters approved a measure legalizing recreational marijuana on Tuesday, defying Republican legislative leaders who had failed to pass the proposed law.
Passage of Issue 2 makes Ohio the 24th state to allow adult cannabis use for non-medical purposes.
“Marijuana is no longer a controversial issue,” said Tom Haren, spokesman for the Coalition to Regulate Marijuana Like Alcohol. “Ohioans demonstrated this by passing State Issue 2 in a landslide. Ohioans are being extremely clear on the future they want for our state: adult-use marijuana legal and regulated.”
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The new law will allow adults 21 and over to buy and possess up to 2.5 ounces of cannabis and to grow plants at home. A 10 per cent tax will be imposed on purchases, to be spent on administrative costs, addiction treatment, municipalities with dispensaries and social equity and jobs programs supporting the industry itself.
The election’s outcome represents a blow to GOP lawmakers, Republican Gov. Mike DeWine and business and manufacturing organizations concerned about its impact on workplace and traffic safety.
But as a citizen-initiated statute, the law is subject to change. Republicans who remain opposed to it in the Legislature are free to make tweaks to the law _ or even repeal it, though the political stakes are higher now that the voters have approved it.
Among concerns raised by opponents that lawmakers may revisit is the measure’s tax structure, which earmarks none of the earnings for Ohio counties that administer social services programs directed at drug use, addiction and other issues that could rise due to Issue 2’s passage.
“This fight is not over,” Smart Approaches to Marijuana Action President Kevin Sabet said in a statement. He called on state lawmakers to eliminate provisions of Issue 2 that allow for commercial sales, advertising and production, at a minimum.
For the Coalition to Regulate Marijuana Like Alcohol, voter approval marked the culmination of the proposal’s yearslong fight to become law.
GOP Secretary of State Frank LaRose first submitted petitions to the Ohio General Assembly on behalf of the coalition in January 2022, triggering a four-month countdown for lawmakers to act. Republican legislative leaders didn’t, and lawmakers asserted the group’s petitions arrived too late for 2022 ballots.
A lawsuit and settlement ensued, under which the group agreed to wait until this year.
Lexaria Bioscience Corp. (NASDAQ: LEXX) Exploring Patented DehydraTECH(TM) Technology’s Effectiveness on GLP-1 Drugs for Potential Diabetes Treatment and Weight Loss
- Lexaria, a global innovator in drug delivery platforms, recently announced plans to launch new human and animal studies examining whether its patented DehydraTECH(TM) technology can make GLP-1 drugs better
- Lexaria has previously demonstrated DehydraTECH’s overall potential in its DIAB-A22-1 animal study, which yielded weight loss, and improved triglyceride and cholesterol levels among diabetic-conditioned animals
- The company plans to replicate the results from this study while also exploring ways to improve the overall bioavailability of GLP-1 drugs for diabetes treatment and weight loss
- Lexaria management is optimistic that it will build on previous studies, replicate previous positive results, and improve the overall efficacy of GLP-1 drugs
Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced plans to launch new human and animal studies that seek to examine its patented DehydraTECH(TM) technology’s potential on GLP-1 drugs for the treatment of diabetes and weight loss. This announcement follows the recent study results published on “New England Journal of Medicine,” which showed that 49 to 52 pounds weight loss was a common outcome across the 2,539 adult study participants (https://cnw.fm/bP9IJ).
DehydraTECH has demonstrated, in many instances, significant improvement in how active pharmaceutical ingredients (“APIs”) enter the bloodstream with its strong bioavailability enhancing capabilities. Its unique and revolutionary approach has seen Lexaria granted 37 patents for the technology, ultimately safeguarding its applicability, given its growing list of applications ranging from nicotine delivery to NSAIDs, antiviral drugs, cannabinoids, vitamins, and more.
So far, DehydraTECH has demonstrated positive results in diabetes-related studies. Its DIAB-A22-1 animal study yielded at least three positive outcomes: weight loss plus improved triglyceride and cholesterol levels. Reduced body weight, specifically, was realized in just four days after the start of dosing with DehydraTECH-CBD, with peak results achieved nine days after dosing and maintained throughout the 8-week study duration (https://cnw.fm/wfWYV).
Lexaria looks to replicate these results with GLP-1 drugs while also exploring ways to make these drugs better. GLP-1 agonists have been known to help manage blood sugar levels in people with type 2 diabetes. They have also proven effective in treating obesity, a result which has been very much welcomed by consumers and the more than 37 million Americans currently living with diabetes. By doing so, Lexaria looks to carve out a significant market share in the diabetes drug market, projected to hit $82.93 billion in value by 2027 (https://cnw.fm/W7taU).
This commitment builds on the work that Lexaria has been doing with DehydraTECH since 2014. It also reflects the technology’s potential and the company’s confidence in it. Thus far, studies have shown exceptional results, asserting Lexaria as a dominant figure in the drug delivery technology space. Its management is optimistic that as it heads into GLP-1 research, it will build on its previous studies, ultimately improving the overall efficacy of GLP-1 drugs and further demonstrating DehydraTECH’s potential.
For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX
About CannabisNewsWire
CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.
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420 with CNW — Study Finds Increase in Traffic Fatalities in Prohibitionist States, Drop Where Cannabis Is Legal
A new study from Quartz Advisor has found states that legalized cannabis since 2016 registered a “meaningful decline” in traffic fatalities. Interestingly, the paper found that states that have continued to criminalize cannabis possession and use have seen a slight increase in traffic fatalities.
The study goes against the notion that legalizing cannabis would lead to higher rates of driving under the influence and result in more traffic fatalities. While prohibitionists argued that legalizing cannabis would prove to be a danger to the public, this study suggests that ending cannabis prohibition may have a connection with fewer traffic accidents and fatalities.
Researchers concluded that traffic safety shouldn’t be a major concern for cannabis reform initiatives, especially when compared to alcohol, which has much higher traffic accident and fatality rates. They noted that while there has been no evidence connecting cannabis reform with a statistically significant rise in traffic fatalities, alcohol remains widely available despite its role in traffic accidents.
The report relied on traffic fatality data collected from four states — Maine, California, Nevada and Massachusetts — from 2016 to 2019. It then compared this data to national average rates and traffic fatality states in Wyoming, Kansas, Indiana, Nebraska and Idaho, all states where cannabis was illegal.
None of the four states with legal cannabis markets registered an increase in traffic deaths, the paper says. In fact, three of them reported a “significant decrease” in traffic deaths over the study period. Massachusetts saw the largest drop in traffic fatalities (28.6%) while Maine didn’t register any change in traffic deaths.
All four states saw a combined 11.6% drop in traffic fatalities from 2016 to 2019, 1.0% more than the decline in average traffic deaths during the same period (10.6%). The five states without legal cannabis markets registered a 1.7% increase in combined traffic deaths from 2016 to 2019.
However, when the researchers included data from 2020–2021, the traffic death rate for states with cannabis markets went up by 6.0% while states without legal cannabis markets saw a 0.7% reduction in traffic fatalities. Researchers say they excluded data from 2020 and 2021 as the two years ‘were anomalies’ in traffic accident trends.
Traffic fatalities spiked by 18.9% nationally from 2019–2020 after decades of decline while cannabis states saw a 19.9% increase in 2016 and noncannabis states registered a 2.3 decline in traffic fatalities over the same period.
The broader cannabis industry and its main actors such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) is likely to welcome these findings because they dispel the misconception that marijuana legalization results in an increase in road traffic accidents and fatalities.
About CNW420
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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OGEN latest Alberta cannabis company to close
Another Alberta cannabis producer is shutting its doors. On November 3, Calgary-based OGEN Cannabis closed its facility, laying off 87 people as a result.
Darren Brisebois, President at OGEN, made the announcement in a post on Linkedin on November 7,
In June of this year, Atlas Growers in rural Alberta closed up shop and laid off 50 workers. In October, cannabis producer SNDL closed their Olds, Alberta facility. The Olds facility had once been the largest employer in the area, with about 400 employees in 2019.
Cannabis producers in Alberta say they are hamstrung by provincial fees and paperwork, and smaller producers say it’s often easier to sell their weed outside the province than in.
Applicants wanting to sell their cannabis in Alberta, for example, must pay the AGLC $3,000 for a process that can take five to six months, Jeff Karren, President of Joi Botanicals, a standard producer in Calgary, explained to StratCann earlier this year.
“We just went through our second round. The maximum licensing period before a registrant must resubmit due diligence info is 6 years, but for some reason, the AGLC decided that we needed to resubmit after about 4 years. You pay the $3,000 upfront, and if additional work is required, they might charge you more.”
In a recent online post in reference to OGEN closing, Karren also estimated the loss in tax revenues could be in the tens of millions.
“How much tax revenue will be lost in Alberta before changes are enacted?” Karren asks in his LinkedIn post.
Just three weeks ago, the company was hiring for a position in Calgary.
The AGLC even requires the full names and birthdays of all children—dependent or not, including step-children. (A PDF of the 61-page Cannabis Registration Representative application can be found here.)
“It’s the same level of scrutiny that a casino owner gets,” says Tim Mallett, CEO and master grower at Alberta Bud, a micro producer in Edmonton. “It’s painful, time-consuming, and expensive. We’ve been through it three times in two years.”
The province has been making some regulatory changes, even lowering some listing and licensing fees.
Alberta currently lists about 750 cannabis retailers, with over 200 producers and brands approved to sell in the province.
Cannabis companies across Canada have been closing due to an array of market pressures, federal and provincial paperwork, fees, and taxes.
There are currently 949 federal licences listed as active by Health Canada. Ninety-one of these are located in Alberta. Health Canada also lists recent licence revocations (on request of the licence holder), eight of which are producers in Alberta.
Featured image via OGEN Cannabis.
420 with CNW — Minnesota University-Led Study Uncovers Medical Marijuana Usage Patterns
Research led by the University of Minnesota in partnership with Vireo Health looked into patterns of medical marijuana consumption and use. Currently, the medical use of marijuana is legal in 38 states in the United States, the federal District of Columbia and 4 inhabited territories.
Despite the rising use of medical marijuana, state-cannabis programs don’t have consistent guidelines governing products being consumed by patients, particularly for THC and CBD. CBD (cannabidiol) and THC (tetrahydrocannabinol) are the two primary compounds found in marijuana. While THC does induce a high when consumed, CBD does not.
Both compounds interact with the body differently, which means that side effects and symptom control varies from one individual to another.
The absence of standardized procedures in state programs makes it hard to forecast how patients may respond to these alternative treatments, especially when one considers that most patients may have comorbidities and highly variable interactions with their other treatments.
The study’s lead author, Professor Angela Birnbaum, stated that past data showed that THC and CBD concentrations in the blood could vary extensively among patients and could cause unanticipated side effects and varied responses.
For their study, the researchers conducted an analysis of data collected from about 50% of all registered users of medical marijuana in the state of Minnesota in the period between June 2016 and November 2019. All users included were also part of Vireo Health’s program.
The researchers then examined the THC and CBD content of products provided and dosing of patients, finding that about 60% of patients who received medical marijuana had indications of severe pain. Given that they were the largest patient population, the researchers observed huge differences in dosages between younger and older adults with similar diagnosis, which brings into question the factors that contributed to varied dosages.
Additionally, the researchers found that most patients used drugs that contained both THC and CBD, despite evidence showing that CBD was effective in seizure prevention in patients with epilepsy. From the study’s findings, one can see that the data provided shows that major cannabinoid quantities, doses received and choice of product is mostly based on patient preference and pharmacist selection rather than a physician’s prescription.
In the report, Birnbaum noted that more studies were needed to understand the long-term influence of marijuana use, particularly in older adults who were typically on more than one medication and had a heightened potential for drug-drug interactions. This research was funded by the University of Minnesota Medical Discovery Team on Addiction’s Pilot Grant and the MacMillan Innovative Epilepsy Research and Education Fund.
These studies will most likely give cannabis entities such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) plenty to think about as they plan how best to reach different categories of patients with their medical cannabis products.
About CNW420
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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Regular Attendance of Ayahuasca Ceremonies Improves Well-Being, Study Concludes
Individuals who take part in ayahuasca ceremonies regularly reported fewer chronic and lifestyle-related diseases, increased physical activity, better diets and improved well-being compared to the general population. A recent study from the Netherlands has found that regular ayahuasca ceremony participants had better stats in various aspects of their physical and emotional lives compared to nonayahuasca users, indicating that the psychedelic may have some benefits to regular users.
Ayahuasca is a traditional psychedelic brew that has been historically used by Indigenous Amazonian communities for religious, healing and spiritual purposes. Ayahuasca is created by combining a vine called Banisteriopsis caapi with leaves from various plants including Diplopterys cabrerana and Psychotria viridis. The resulting brew has active psychedelic ingredients such as dimethyltryptamine (DMT), which can induce potent hallucinogenic experiences.
According to the Dutch study, regular exposure to these ingredients is associated with improvements in physical health, mental well-being, diet and physical exercise. Study author Major Kohek and her team sought to understand the potential health risks involved with taking part in ayahuasca rituals regularly as well as the coping strategies regular ayahuasca users develop.
The research team recruited 377 participants through a network of ayahuasca ceremony facilitators in the Netherlands. Half of the participants were female, the group had an average age of 49 years old, and 85% of the participants were Dutch.
Participants filled out an online survey that measured aspects such as mental and general health, dietary habits, physical activity, coping mechanisms, values and social support. The participants also provided demographic information and reported whether the coronavirus pandemic impacted their psychedelic use.
According to the study, 58% of the individuals revealed that they had started using psychedelics more than five years ago while 30% said they had been in more than 100 ayahuasca ceremonies in their entire lives. A whopping 99.8% of the study participants said they felt ayahuasca had a positive impact on their lives, with 64% identifying advantages to their well-being and mental health due to using ayahuasca.
In addition, 99% felt more optimistic and happier, had a greater sense of calmness and peace, and reported higher levels of self-awareness, better emotional control and increased levels of self-respect and confidence. The report also indicated that 95% of the study pool said their health was good or excellent, much more than the Dutch national average, and fewer study participants had chronic conditions such as diabetes, elevated cholesterol levels and hypertension.
Regular ayahuasca ceremony participants used fewer prescribed medications compared to the general Dutch public despite higher use rates of psilocybin mushrooms, LSD and cannabis. The study indicated that 75% of participants exercised moderately for at least 150 minutes per week, consumed less meat and grains, and had higher fruit, legume, and vegetable intake. Participants with a long history of ayahuasca use had also developed proactive problem-solving strategies.
The researchers concluded that long-term participation in ayahuasca ceremonies was associated with fewer lifestyle and chronic diseases, better well-being, more balanced diets and increased physical activity.
Given that many startups such as atai Life Sciences N.V. (NASDAQ: ATAI) are exploring potential therapeutic uses for various psychedelics, the studies that these companies conduct will shed plenty of light on how these hallucinogens can be harnessed for the good of patients battling mental-health conditions.
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Oaksterdam Publishes Cannabis Style Guide
Oaksterdam University has released the first-ever definitive guide of standards for writing about cannabis in academia, media, public relations. In addition to professional writers, the guide is also useful for industry leaders, job seekers, and anyone who wants to speak about cannabis in an educated, socially responsible manner.
The 2024 Oaksterdam University Cannabis Style Guide is available as a Kindle e-book ($5.99) and paperback ($9.99) published by Oaksterdam Press. The 44-page style guide outlines proper terminology, definitions, and grammar for anyone who writes about cannabis and hemp. “We are laying the foundation for a safe, responsible, and equitable industry by implementing proper terminology,” says Oaksterdam University Executive Chancellor Dale Sky Jones. “How we communicate about cannabis and consumers has consequences. Words matter.”
More than ever, media outlets are reporting on all facets of the cannabis industry, requiring common-use definitions of the terms and concepts core to writing about its complexities. This isn’t a simple subject; more than 80 years of Prohibition have muddled knowledge of the plant’s taxonomy, therapeutic use, cultivation, culture, history, law, and scientific study. There have been no common style standards for writing about this industry.
This Style Guide was composed and edited by the experts at Oaksterdam University and will evolve with use, so we encourage your feedback, input, questions, and requests for clarification. Journalists, media, PR professionals and academia may use this guide to supplement the AP Style Guide and The Chicago Manual of Style.
The Oaksterdam Cannabis Style Guide features:
— Instructions on when and how to use the terms “hemp” vs. “marijuana” vs. “cannabis.”
— How to correctly use culture- or industry-specific terminology.
— The difference between prescription and recommendation.
— Help navigating the slang terminology used to sell hash products.
— And much more …
Oaksterdam Content Review Service
Need fact-checking or experts to review your content before you publish?
The release of the Oaksterdam University Cannabis Style Guide coincides with the launch of Oaksterdam’s Cannabis Content Review Service. Oaksterdam University is happy to offer expert practitioners to proofread your content for accuracy and provide quotes from authoritative experts and specialists from every facet of the cannabis industry. Please contact [email protected] for assistance.
Click here to order the complete Oaksterdam University Cannabis Style Guide.
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