MIAMI, FL / ACCESSWIRE / March 2, 2017 / Biotech Products Services and Research Inc. (OTC PINK: BPSR) ("BPSR" or the "Company") recently announced in a Form 8-K that it has entered into an agreement pursuant to which the Company intends to aggressively pursue obtaining the required license to operate within the medical cannabis industry in the state of Florida upon the Florida legislature's finalization of the plans for implementing the recently passed Florida Medical Marijuana Legalization Initiative ("Amendment 2"). The Company intends to operate this business segment through a newly formed Florida subsidiary, Mint Organics Florida, Inc. ("Mint Organics"). As mandated by the voters of Florida, BPSR, through Mint Organics, intends to distribute and administer consistent, therapeutic, high quality medical cannabis treatments and products to patients.
Management intends to operate the business with the goal of exceeding the governmental mandates and industry standards, including transparency and controls to assure quality and legitimacy and professionalism of its operations. Mint Organics will be controlled by BPSR, which already has a history of operating within highly regulated and transparent environments as an SEC reporting publicly traded company and operating an existing business involved with research, development, and production of amniotic-based biologics products for the health care industry. Mint Organics also intends to:
- Provide the best education and training of associates and the most superior quality products and services to its patients;
- Only partner with the most reputable and consistent producers that can deliver certified products that are pesticide and additive free; and
- Work closely with health care specialists to ensure that its products meet their specific needs and, more importantly, the needs of their patients.
Peter Taddeo, CEO and co-founder of Mint Organics, is a former senior executive in a number of high technology companies with experience developing and successfully bringing new technologies to market. Taddeo commented, "The field of medical cannabis treatments for painful and debilitating conditions is in its infancy. Our experience in emerging high technology and bio technology makes us uniquely situated to set new standards of access, service, and patient education as this new industry is defined. We plan on working with experienced partners to both develop and bring to market only the highest quality products in a professional environment."
After retiring in late 2012, Taddeo became interested in cutting edge biotechnology, particularly stem cell research in both therapeutic and degenerative/quality of life protocols. That interest led him to research the benefits of medical cannabis and, after viewing a number of medical documentaries about the seemingly miraculous benefits of the product and learning more of the Company's many synergistic objectives, he co-founded Mint Organics with the Company. Taddeo commented, "Mint Organics' name borrows from three critical aspects of what we want to do. Mint is used to describe something as pristine, perfect, and good. Mint is also a shade of green, like cannabis, and finally, Mint is an aromatic herb."
Taddeo sees a bright future for the medical cannabis business and plans to work closely with the state of Florida to realize that future. He believes that the entire state will benefit.
Colorado has reported one billion dollars in total cannabis sales in 2016, generating needed tax revenues to the state to fund important social programs, such as school construction and substance abuse programs. Over 37% of that revenue came from medical cannabis sales. The Company believes that the opportunity for Florida is significantly greater. With nearly four times the population than Colorado, Florida could expect to exceed Colorado's overall sales just in medical cannabis alone. That's several hundred million in new tax revenues for the state.
In addition, Mint Organics plans to create a number of new higher paying specialized jobs, subject to state approval of the dispensary license. Given the Company's aspirations, management believes that there could be up to 100 new jobs created once the Company builds out its dispensary and caregiver network.
For patients suffering from long term chronic afflictions, including chronic pain, cancer treatments, mood disorders, PTSD, seizures and spasticity associated with Multiple Sclerosis ("MS"), the benefits versus current treatment protocols are overwhelmingly positive. As the public becomes educated to these benefits, the Company expects that acceptance of cannabis use by patients under physician advice will grow, as well.
Taddeo commented, "We believe medical cannabis provides physicians a new tool to treat these chronic conditions in a way not previously possible and with protocols that do not have the negative side effects of current traditional treatments." Taddeo continued, "In addition, JAMA has reported that in the 23 states that passed medical marijuana laws, death rates from accidental overdoses have declined between 25-30%, and that prescription rates for pain pills were also significantly reduced."
About Biotech Products Services and Research, Inc.
Biotech Products Services and Research, Inc. ("Company"), and its subsidiaries, are suppliers of products and services used in the growing health care field of regenerative medicine.
The Company's strategy is to be a leading supplier of newly designed advanced biologically processed cellular and tissue based products and services used in the growing health care field of regenerative medicine.
CAUTIONARY COMMENT REGARDING FORWARD-LOOKING STATEMENTS
The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws relating to forward-looking statements. This release contains forward-looking statements that reflect Biotech Products Services & Research, Inc., and its subsidiaries, including but not limited to, Mint Organics, Inc.'s plans and expectations. In this press release and related comments by Company management, words like "intends," "expect," "anticipate," "estimate," "goal," and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events.
Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation, and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Underlying assumptions include without limitation, the ongoing enactment of legislation favorable to the production of and the commercialization of cannabis products and the Company's success in capitalizing on that legislation. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Other information can be obtained at www.bpsrhealth.com. The contents of the Company's website are not incorporated by reference in this Press Release.
SOURCE: Biotech Products Services and Research Inc.