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DENVER, CO, Nov. 12, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”), a full-service business-to-business cannabis and hemp consulting solutions provider, is pleased to announce its approval for an Operator’s License by Colorado’s Marijuana Enforcement Division (MED).
On November 10, 2020, Colorado’s Marijuana Enforcement Division (MED), approved the Company’s application for an Operator’s License, allowing it to now manage and operate both recreational and medical cannabis operations throughout Colorado. This recent approval is key in the Company’s plan to effectively roll out its management services to operators who seek to improve their overall business efficiencies. In addition to this approval for an Operator’s License, the Company recently received MED approval for a Suitability License, establishing the Denver-based company as one of the few publicly traded companies authorized to acquire and operate various cannabis licenses throughout Colorado.
Terry Buffalo, Chief Executive Officer of American Cannabis Company, commented, “We are happy to now have the ability to deploy our operational management platform across the Colorado market as we seek to continually expand our service offerings. We provide our suite of management services to those who may need guidance in various areas of business related to cultivation, retail or extraction operations. In having secured both suitability and operators licenses within Colorado, we now have a multi-pronged approach in advancing our brand forward in this market. As we effectively work to implement our growth strategies, we will actively deploy our management platform while continuing to pivot our business model and advance brand expansion efforts by looking at multiple operational acquisition opportunities.”
About American Cannabis Company, Inc.
American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis and hemp industries. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. We are continuing to grow the Company by promoting our operational management services, and license the American Cannabis Company brand, as well as continuing to analyze acquisition opportunities worldwide. American Cannabis Company also developed and owns a portfolio of branded products including: SoHum Living Soils® - Winner of the High Times S.T.A.S.H Award for “Best Potting Mix”, The Cultivation Cube™ and the High-Density Cultivation System™. We also design and provide other industry specific custom product solutions.
For more information, please visit:
https://www.youtube.com/watch?v=aENC4aeNZis (High Density Cultivation System)
https://www.youtube.com/watch?v=e9rNxFph_tQ&t (Cultivation Cube)
https://www.youtube.com/watch?v=XoIcopO2yE8&t (SoHum Living Soils®)
Forward Looking Statements
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time to time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
Cannabis Remains an Illegal Schedule 1 Drug Under Federal Law
Cannabis and its derivatives are considered illegal “Schedule 1” drugs under the Controlled Substances Act (21 U.S.C. § 811). As such, Cannabis and its derivatives are viewed as being highly addictive and having no medical value. The United States Drug Enforcement Agency enforces the Controlled Substances Act, and persons violating it are subject to federal criminal prosecution. The criminal penalty structure in the Controlled Substances Act is determined based on the specific predicate violations, including but not limited to: simple possession, drug trafficking, attempt and conspiracy, distribution to minors, trafficking in drug paraphernalia, money laundering, racketeering, environmental damage from illegal manufacturing, continuing criminal enterprise, and smuggling. A first conviction under the Controlled Substances Act can generally result in possible fines from $250,000 to $50 million dollars, and incarceration for periods generally from five and up to forty years. For a second conviction, fines increase generally from $500,000 to $75 million dollars, and incarceration for periods generally from ten years to twenty years to life.