Oxford to Pursue Medical Marijuana License in Florida
TORONTO, ON / ACCESSWIRE / June 20, 2017 / Oxford Investments Holdings Inc. ("Oxford" or the "Company") (OTC PINK: OXIHF) is pleased to announce that it has established a US-based subsidiary, Pioneer Green Inc., which has entered into an agreement with Drymon's Citrus Nursery with purpose of pursuing a license to grow and distribute marijuana for medical purposes in the State of Florida.
On November 8, 2016, Florida voters approved Amendment 2 by 71 percent, greatly expanding the legal use of medical marijuana. Amendment 2 allows doctors to prescribe marijuana with THC, the active chemical causing a user's high, to patients with cancer, glaucoma, epilepsy, HIV/AIDS, post-traumatic stress disorder, amyotrophic lateral sclerosis (ALS), Crohn's disease, Parkinson's disease, multiple sclerosis, or other chronic, debilitating medical conditions. Florida lawmakers had already passed a measure allowing the use of non-euphoric marijuana by patients with conditions causing severe seizures, like epilepsy, but had not supported bills to increase the number of eligible patients.
Legislation to enact Florida's medical marijuana constitutional amendment was recently approved by the Florida Senate and House and submitted to the desk of the Governor, with the amendment stating that laws must be in place by July 3, 2017. The legislation allows patients who suffer chronic pain related to one of 10 qualifying conditions to receive either low-THC cannabis or full strength medical marijuana. Both chambers reached an agreement that there would be a cap of 25 dispensaries per medical marijuana treatment center and that there would not be a sales tax.
"We are actively working to meet all the necessary requirements for submission of a Florida license application, and strongly believe that our experience in pursuing a medical marijuana license in Canada should enhance our credibility with Florida State regulators," stated Michael Donaghy, President of Oxford. "The licensing application is a rigorous process, but if approved, Florida presents an exciting opportunity for Oxford by establishing a presence in the U.S., and complements our efforts to becoming an integrated medical marijuana producer."
About Oxford Investments Holdings Inc.
Oxford Investments Holdings Inc. is establishing itself as a leading payment solutions provider. The Company acts as a third-party processor, directing online merchants who require credit card processing to the company's network of processors whose payment gateways are integrated into a number of banks in China. Oxford earns commission revenues from the processors while minimizing its infrastructure requirements and overhead costs. Oxford, through its partner, Koho Group, has also established relationships in the Chinese financial and electronic payments industries. Oxford is also actively pursuing opportunities in the emerging medical marijuana industry.
FORWARD-LOOKING STATEMENTS DISCLAIMER:
Statements in this press release, which are not historical, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with product liability and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on suppliers, risks relating to international operations, risks associated with competition and other risks detailed in the Company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements.
This release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be a sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of such securities under the laws of any such jurisdiction. This press release was accurate at the time it was issued but may not reflect the Company's current strategy or product offerings.
Contact:
Oxford Investments Holdings Inc.
Michael Donaghy 1-416-576-4671
Website: www.oxsof.com
SOURCE: Oxford Investments Holdings Inc.
