Cannabis Strategic Ventures Applauds Passing of The Marijuana Opportunity Reinvestment and Expungement Act by House Judiciary...
November 21 2019 - 2:55PM
InvestorsHub NewsWire
Cannabis Strategic Ventures Applauds Passing of
The Marijuana Opportunity Reinvestment and Expungement Act
by House Judiciary
Committee
LOS
ANGELES, CA -- November 21, 2019 -- InvestorsHub NewsWire --
Cannabis Strategic Ventures (OTCQB:NUGS)
(“NUGS” or the “Company”), an emerging leader in the US cannabis
marketplace, applauds House Judiciary Committee members for
taking a significant step toward the legalization of the
cannabis market through the passing of the Marijuana
Opportunity Reinvestment and Expungement Act of 2019 (the “MORE
Act”) which will move to the House for full consideration. “The
ramifications of this bill brings excitement to the cannabis
industry,” commented Simon Yu, CEO of Cannabis Strategic Ventures.
Removing federal legislative obstacles brings tremendous
opportunity in scaling the cannabis industry and we applaud the
members of the House Judiciary Committee for their
actions.”
The
MORE Act removes marijuana as a Schedule 1 Controlled Substances
and turns over control to state lawmakers, to set their own
marijuana policy. The law would also require federal courts to
expunge prior convictions for marijuana
offenses.
If
passed into law, the MORE Act creates a foundation that grants
cannabis cultivators fair treatment under
the law by providing
infrastructural resources such as the banking system. The passage
of the bill is a necessary and important precondition to the
gradual process of legalization of marijuana in all US
states.
“This is a huge step for the cannabis industry,”
continued Mr. Yu. “The end of cannabis prohibition appears to be
just a matter of time. The federal restrictions have had a
suffocating force, preventing companies like ours from competing on
a fair playing field with other industries. This is a transition
that will finally take the shackles off. The pie gets
bigger.”
According to a new Pew Research Center survey,
two-thirds of Americans say the use of marijuana should be legal,
reflecting a steady increase over the past
decade
About Cannabis Strategic
Ventures
Cannabis Strategic Ventures Inc.
(OTC:
NUGS) is one of the largest publicly traded marijuana
cultivators in the United States. The Company is Los Angeles-based
that incubates, develops and partners with category leaders within
the cannabis and ancillary sectors. The Firm's NUGS brand
experience provides operational and financial strategic
partnerships and a range of essential services to emerging and
existing Cannabis consumer brands. For more information,
visit http://www.CannabisStrategic.com
FORWARD-LOOKING STATEMENTS: This release
contains "forward-looking statements" within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements also may be included
in other publicly available documents issued by the Company and in
oral statements made by our officers and representatives from time
to time. These forward-looking statements are intended to provide
management's current expectations or plans for our future operating
and financial performance, based on assumptions currently believed
to be valid. They can be identified by the use of words such as
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance.
Examples of forward-looking statements include,
among others, statements relating to future sales, earnings, cash
flows, results of operations, uses of cash and other measures of
financial performance.
Because forward-looking statements relate to the
future, they are subject to inherent risks, uncertainties and other
factors that may cause the Company's actual results and financial
condition to differ materially from those expressed or implied in
the forward-looking statements. Such risks, uncertainties and other
factors include, among others such as, but not limited to economic
conditions, changes in the laws or regulations, demand for products
and services of the company, the effects of competition and other
factors that could cause actual results to differ materially from
those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be
considered with these factors in mind. We assume no obligation to
update any forward-looking statements contained in this
report.
Contact:
Investor Relations
Phone:+1-310-359-6860
Email: IR@CannabisStrategic.com
Website: http://www.CannabisStrategic.com
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