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American Cannabis Company, Inc. (AMMJ)

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Previous Close0.2401
Open0.2120
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.2120 - 0.2500
52 Week Range0.0500 - 0.6600
Volume130,644
Avg. Volume1,063,801
Market Cap16.809M
Beta (5Y Monthly)0.15
PE Ratio (TTM)N/A
EPS (TTM)-0.0090
Earnings DateDec 26, 2018
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • American Cannabis Company, Inc. Announces Formation of Advisory Board
    GlobeNewswire

    American Cannabis Company, Inc. Announces Formation of Advisory Board

    DENVER, CO, March 18, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”) is pleased to announce its newly formed Advisory Board consisting of cannabis and non-cannabis sector professionals, who will provide guidance relating to the Company’s strategic plans and initiatives, and highlight potential key areas of opportunity within the industry for ACC and its portfolio of brand assets to capitalize upon. Terry Buffalo, CEO of American Cannabis Company, commented: “We are thrilled to be officially launching the ACC Advisory Board. The Executive Team has taken several months to carefully compile a list of top professionals who each bring unique strengths and backgrounds to the table. We are proud to say that we have selected these seven (7) individuals as our inaugural members.” Advisory Board Members include*: Christine Comatos Elvin Moon Karen Thomas Peggy Moore Breck Speed Greg Shoenfeld Carolyn Burek *for Member-specific bios, please visit: https://americancannabisconsulting.com/about/advisory-board/ Buffalo continued, “As a public company that is solidifying itself as a long-standing player in the cannabis industry, the team and I wanted to develop an advisory group of individuals who we felt could provide their respective insights in parallel with the deployment of our strategies for brand asset growth and expansion. We look forward to working closely with this group and will continue to evaluate additional member candidates as our growth trajectory progresses.” 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™. American Cannabis Company also designs and provides other industry-specific custom product solutions. For more information about American Cannabis Company, please visit: www.theacclife.com www.americancannabisconsulting.com www.americancannabiscompanyinc.com www.sohumsoils.com www.americanhempservices.com Video Links: https://americancannabisconsulting.com/resources/video/ (ACC Site) 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®) Contact: IR@americancannabisconsulting.com 303-974-4770 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". These 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 Thirty-five states, including Colorado, the District of Columbia and four U.S. Territories currently have laws broadly legalizing cannabis in some form for either medicinal and/or recreational use governed by state specific laws and regulations. Although legalized in some states, cannabis is a “Schedule 1” drug under the Controlled Substances Act (21 U.S.C. § 811) (“CSA”) and is illegal under federal law. 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. As a result of the November, 2020 federal elections, and the election of Joseph R. Biden as president, it is expected that the federal government will move to amend parts of the CSA and de-schedule cannabis as a Schedule 1 drug. In late January, 2021, Senate Majority Leader Chuck Schumer said lawmakers are in the process of merging various cannabis bills, including his own legalization legislation. He is working to enact reform in this Congressional session. This would include the Marijuana Freedom and Opportunity Act, that would federally de-schedule cannabis, reinvest tax revenue into communities most affected by the drug war, and fund efforts to expunge prior cannabis records. It is likely that the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act would be incorporated. Other federal legislation under review for possible submission includes the SAFE Banking Act (or Secure and Fair Enforcement Act), a bill that would allow cannabis companies to access the federally-insured banking system and capital markets without the risk of federal enforcement action, and the Strengthening the Tenth Amendment Through Entrusting States Act (or STATES Act), a bill that seeks protections for businesses and individuals in states that have legalized and comply with state laws. Notably with respect to our business, on November 1, 2019, Colorado Bill HB-19-1090, was passed and made effective. This law allows publicly traded corporations to apply for and qualify for the ownership of Colorado cannabis licenses. Other states that have legalized cannabis for recreational and/or medicinal use restrict public companies from owning interests in state cannabis licenses altogether, or have enacted regulations which make it difficult for corporations to comply with application requirements, including all shareholders submitting to and passing background checks. On September 18, 2020, Colorado’s Marijuana Enforcement Division (MED), approved the Company’s application for suitability, establishing the Company as one of the few publicly traded companies authorized to acquire and operate various cannabis licenses throughout Colorado, in both the recreational and medical markets.

  • American Cannabis Company, Inc. Executes Definitive Agreement to Acquire Naturaleaf™ in Southern Colorado
    GlobeNewswire

    American Cannabis Company, Inc. Executes Definitive Agreement to Acquire Naturaleaf™ in Southern Colorado

    DENVER, CO, March 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”) is pleased to announce that on March 11, 2021, it executed a material definite agreement to acquire the assets and operations of Medihemp, LLC, and its wholly owned subsidiary SLAM Enterprises, LLC, and Medical Cannabis Caregivers, Inc., all doing business as Naturaleaf™, located in the metropolitan area of Colorado Springs, Colorado. A long-standing and reputable medical cannabis retailer in a thriving market, Naturaleaf™ operates three licensed medical marijuana centers, including a 10,000 square foot cultivation facility containing non-volatile extraction facilities, and has provided patients with quality cannabis, cannabis-derived products and related accessories for over ten (10) years. “For over a decade, Naturaleaf™ has built a brand name that truly speaks for itself. Providing medical quality cannabis and products to its loyal customer base of registered patients through a one-on-one retail concierge experience, this acquisition is something that our team is excited for as we look to improve the overall business performance and increase revenues while maintaining brand integrity,” said Terry Buffalo, CEO of American Cannabis Company. Buffalo continued, “Through the due diligence process our team identified key performance indicators that we will use as a baseline to improve revenue, operational costs, and identify market trends as a means to fulfill the ever-growing demand. We expect this acquisition to bring in over $2.2mm in gross revenue, and we look to increase upon that. For more details, please read the Company’s most recent 8-K filing. All of the documents required to be filed to complete transfer of the licenses have been filed with the appropriate regulatory agencies, and we anticipate closing the transaction after final regulatory approval, which we expect in the second quarter.” Scott Saunders, owner of Naturaleaf™, commented: “We are very happy to have Naturaleaf™ join the American Cannabis Company portfolio of brand assets. The staff is excited to transition under the ownership of a public company as this industry continues to emerge and expand, and I am excited for the people of Colorado Springs and Southern Colorado to see what American Cannabis Company can do to a brand that the team and I have spent years building.” Transaction Background On December 10, 2020, American Cannabis Company announced that it had executed a non-binding letter of intent to acquire all three (3) Naturaleaf™ medical marijuana centers along with its ten thousand (10,000) square foot commercial cultivation facility that also includes non-volatile extraction facilities. After obtaining final regulatory approval transferring the Naturaleaf™ licenses to the Company, and finalizing the closing of the asset purchase transaction, the Company plans to acquire additional local and national cannabis assets and brands, with the goal of creating a portfolio of cannabis assets elevating the consumer experience through a commitment to wellness, quality products, and cleaner green practices. For a complete disclosure of the asset purchase agreement, see the Company’s Form 8-K filed with the Securities and Exchange Commission: https://www.sec.gov/Archives/edgar/data/945617/000172186821000142/f2sammj8k031121.htm 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™. American Cannabis Company also designs and provides other industry-specific custom product solutions. For more information about American Cannabis Company, please visit: www.theacclife.com www.americancannabisconsulting.com www.americancannabiscompanyinc.com www.sohumsoils.com www.americanhempservices.com Video Links: https://americancannabisconsulting.com/resources/video/ (ACC Site) 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®) For more information on Naturaleaf™, please visit: www.thenaturaleaf.com Contact: IR@americancannabisconsulting.com 303-974-4770 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". These 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 Thirty-five states, including Colorado, the District of Columbia and four U.S. Territories currently have laws broadly legalizing cannabis in some form for either medicinal and/or recreational use governed by state specific laws and regulations. Although legalized in some states, cannabis is a “Schedule 1” drug under the Controlled Substances Act (21 U.S.C. § 811) (“CSA”) and is illegal under federal law. 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. As a result of the November, 2020 federal elections, and the election of Joseph R. Biden as president, it is expected that the federal government will move to amend parts of the CSA and de-schedule cannabis as a Schedule 1 drug. In late January, 2021, Senate Majority Leader Chuck Schumer said lawmakers are in the process of merging various cannabis bills, including his own legalization legislation. He is working to enact reform in this Congressional session. This would include the Marijuana Freedom and Opportunity Act, that would federally de-schedule cannabis, reinvest tax revenue into communities most affected by the drug war, and fund efforts to expunge prior cannabis records. It is likely that the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act would be incorporated. Other federal legislation under review for possible submission includes the SAFE Banking Act (or Secure and Fair Enforcement Act), a bill that would allow cannabis companies to access the federally-insured banking system and capital markets without the risk of federal enforcement action, and the Strengthening the Tenth Amendment Through Entrusting States Act (or STATES Act), a bill that seeks protections for businesses and individuals in states that have legalized and comply with state laws. Notably with respect to our business, on November 1, 2019, Colorado Bill HB-19-1090, was passed and made effective. This law allows publicly traded corporations to apply for and qualify for the ownership of Colorado cannabis licenses. Other states that have legalized cannabis for recreational and/or medicinal use restrict public companies from owning interests in state cannabis licenses altogether, or have enacted regulations which make it difficult for corporations to comply with application requirements, including all shareholders submitting to and passing background checks. On September 18, 2020, Colorado’s Marijuana Enforcement Division (MED), approved the Company’s application for suitability, establishing the Company as one of the few publicly traded companies authorized to acquire and operate various cannabis licenses throughout Colorado, in both the recreational and medical markets.

  • American Cannabis Company, Inc. Announces That It Has Exceeded 100 Retail Distributors Carrying SoHum Living Soils®
    GlobeNewswire

    American Cannabis Company, Inc. Announces That It Has Exceeded 100 Retail Distributors Carrying SoHum Living Soils®

    DENVER, CO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC”), a full-service business-to-business cannabis and hemp consulting solutions provider, is pleased to announce that it has exceeded over one hundred (100) retail distribution channels for its proprietary potting mix, SoHum Living Soils®. Having officially launched the product only a few years ago, the sales team has worked diligently to expand brand awareness and increase the number of avenues by which the soil can be purchased nationally and internationally. SoHum Living Soils®is a fully amended, pH-buffered growing medium that will continue to disrupt the agricultural markets as a ‘Just Add Water’ super soil, acting to eliminate the human error element from cannabis and non-cannabis crop cultivation. Awarded the High Times S.T.A.S.H Award for “Best Potting Mix”, SoHum Living Soils® was created to combat complex cannabis cultivation strategies as it is a complete living soil that optimizes a plant’s genetic potential. Designed to be ready to use, SoHum Living Soils® is a complete and diverse solution for both indoor and outdoor cultivation, combining the best of modern science and agriculture with traditional expertise and farming practices. Ellis Smith, co-founder and President of American Cannabis Company, commented: “ACC is excited for the opportunity to have its products available through so many retail channels across the United States as well as in other parts of the world. We have made tremendous efforts to build out the SoHum Living Soils® brand, and it is very rewarding to see these hard efforts pay off. It has taken years to get to this point, and I have spent nearly two decades working with plants in the soil to perfect this blend. It is overwhelming to think about how far this soil brand has come. Having a passion for cannabis and cultivation, I am truly honored to say that we have taken SoHum Living Soils® from its beginnings as a basement-made ‘jambalaya’ mix, all the way to a complex recipe of specific all-natural inputs and micro-life that is manufactured on a commercial scale by one of North America’s largest aggregate soil mixers. We strive to promote the cultivation of clean, ‘cage-fee’ cannabis on all scales, no matter the size of your farm or operation. With this mission in mind, our company will continue to align with new retailers and distributors as we seek to expand national brand recognition and provide our top-tier products to cultivators more locally through our widening network.” Jon Workman, Vice President of Sales for American Cannabis Company, commented: “To promote our continued track of increased year-over-year sales, our team has made several efforts to increase the availability of SoHum Living Soils® in brick-and-mortar retail stores nationwide. We built out a new, professional sales team to take on product demand while also having the ability to provide top notch customer service. Additionally, we discontinued direct online sales of our soil products to further support our retailers and distributors, and so far, the team has received great feedback. For our distributors on the commercial side, we now offer 2.2-yard spout-bottom totes, which will allow for better ease of use for the large-scale cultivator. The goal for this year is to increase overall retail and distribution presence so that SoHum Living Soils® is offered in every state of the country, and I feel that we will reach our goal soon.” Those looking to purchaseSoHum Living Soils® can do so by contacting an official distributor or visitingthe SoHum Living Soils® website at www.sohumsoils.com(for store locator, see https://sohumsoils.com/shop-living-soil/#storelocator).The SoHum Living Soils® potting mix is also available for purchase on the Walmart, The Home Depot and Amazon online store platforms. List of Current SoHum Living Soils® Retail Distributors CompanyCity StateCompanyCityStateFermentables & Homegrown HobbiesNorth Little RockARPure Natural DepotMaryvilleMOSonoma Grow & SmokeSonomaCASt. Joe HydroSaint JosephMOGreen Spot Garden CenterAlamosaCOSt. Louis HydroponicsSt. LouisMOCultivate DenverDenverCOHarvest TechBillingsMTGrow Generation - TrinidadTrinidadCOHarvest TechButteMTGreen Thumb Hydroponic SuppliesNorth Ft. MyersFLNatural Roots HydroponicsNashuaNHAtlantis HydroponicsAtlantaGAGreen Harvest Hydroponics - PlaistowPlaistowNHThe Barn OwlCarol StreamILIn Grown GardensWest LebanonNHRoots HydroponicsCrest HillILTurrp DoggSocorroNMAlsip Home & Nursery *FrankfortILGrow Generation - RenoRenoNVBargain Warehouse (You Grow)GalesburgILSaratoga Organics & Hydroponics SupplyBallston SpaNYRiver Roots Garden SuppliesMolineILHappy HydroBuffaloNYGro Up GardeningPekinILCampbell's Indoor Gardening SuppliesBristolvilleOHTru Health Care and WellnessPeoriaILThe Bubbling Bucket - EastCincinnatiOH815 Gardens & BrewingRockfordILThe Bubbling Bucket - NorthCincinnatiOHSimple Soil HydroponicsVilla ParkILHappy ShackAftonOKAlsip Home & NurserySt JohnINPJ's Plants and NutritionArdmoreOKNew England Hydroponics AuburnAuburnMAGreenLeaf Grower SupplyBartlesvilleOKScenic RootsEast SandwichMAPonics Plus at Hardscape Materials Inc.BixbyOKEasthampton FeedEasthamptonMAMr. Green Grow SupplyBroken ArrowOKProject GrowFairhavenMATha Grow ShackChickashaOKHarvest MoonFoxboroMAArbuckle Collection LLCHennepinOKNew England Hydroponics FraminghamFraminghamMAFortney Farm & FeedKellyvilleOKHere We GrowHadleyMAVoodoo Hydro SupplyLawtonOKCountry GardenHyannisMAWe Grow OklahomaNormanOKThe Grow HubLittletonMACanna TonicOklahoma CityOKNew England Hydroponics MarlboroMarlboroughMAGrow Generation - OKCOklahoma CityOKBotello Lumber CompanyMashpeeMAGrow Warehouse OklahomaOklahoma CityOKGrowing Point Garden SupplyMethuenMAHippo DealsOklahoma CityOKMatt's HydroponicsMilfordMALucky's Grow SupplyOklahoma CityOKGreen Harvest Hydroponics - PeabodyPeabodyMASkunk Grow SupplyOwassoOKBerkshire HydroponicsPittsfieldMAClausing's Seed CenterSeminoleOKAlways Green HydroponicsPlymouthMAABC Growers SupplySkiatookOKMorrison Home and GardenPlymouthMAJus Grow Me Hydroponic Grow SupplyTahlequahOKGreen MattersPocassetMAC & G GrowmartTulsaOKNew England Hydroponics SeekonkSeekonkMAGrow Generation - TulsaTulsaOKNew England Hydroponics Southampton *SouthamptonMAGrow Generation - Tulsa FrankfortTulsaOKGreen Harvest Hydroponics - TewksburyTewksburyMAOklahoma Growers SupplyTulsaOKMatt's HydroponicsWebsterMASkunk Grow SupplyTulsaOKGreen Zone HydroponicsWorcesterMASkunk Grow SupplyTulsaOKGrow Depot of Maine - AuburnAuburnMEPocono HydroponicsBartonsvillePAHigh Wire HydroponicsRaymondMERoot 22 Hydroponics Garden CenterNew AlexandriaPAThe Grow ShowAnn ArborMIHydro GardenzYoungfordPAHappy Harvesters HydroponicsBurtonMIEZ GrowCoventryRIHydroponic Super StoreBurtonMIOcean State HydroponicsWesterlyRIAdvanced Garden SupplyColumbiaMOThe Urban GardenColumbiaSCThe Domestic GardenerColumbiaMOHealthy AlternativesSt. JohnUSVIRiver Market HydroponicsIndependenceMOBlue Seal Feeds Inc.BrandonVTGroRoom KCKansas CityMOGarden Supply Guys *Green BayWIRiver Market HydroponicsKansas CityMOHydrohobby Hydroponics LtdCoventryUnited KingdomYear Round Garden Hydroponic Supply Shop *Kansas CityMOHydrobuilder.com (online) The Bud RoomLathropMOLoudbank.com (online) Simply Hydroponics LLC (online) *retailers offering local shipping 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™. American Cannabis Company also designs and provides other industry-specific custom product solutions. For more information about American Cannabis Company, please visit:www.theacclife.comwww.americancannabisconsulting.comwww.americancannabiscompanyinc.comwww.sohumsoils.comwww.americanhempservices.com Video Links:https://americancannabisconsulting.com/resources/video/(ACC Site)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®) Contact:IR@americancannabisconsulting.com303-974-4770 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". These 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.