Not for distribution to United States newswire services or for dissemination in the United States.
VANCOUVER, British Columbia, Jan. 05, 2018 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. (“FinCanna”) (CSE:CALI) provided an update in response to the recent U.S. federal cannabis law memo issued by United States Attorney General Jeff Sessions which rescinded five memos from the Obama administration often collectively referred to as the “Cole Memo”. FinCanna notes that the memo from Sessions does not implement any change to the federal law but rather removes previous non-binding guidance issued to U.S. attorneys and reinforces that federal prosecutors should exercise their discretion in determining whether to prosecute cannabis-related violations of U.S. federal law.
FinCanna CEO, Andriyko Herchak, comments, “Based on the nature of the memo from Sessions and the public response from several U.S. attorneys, we don’t expect any real impact on the growth potential of the licensed medical cannabis industry operating legally under state laws and the companies in which we seek to invest. We will continue to pursue our business strategy of investing in best-in-class businesses in the licensed medical cannabis industry that operate in full compliance with all state laws and local regulations.”
Given the near overwhelming public support for licensed medical cannabis in the U.S.i, FinCanna believes that Session’s recent actions could create an impetus for members of both political parties to unify in efforts to create a clear federal policy in support of the licensed medical cannabis industry. FinCanna will continue to monitor any development in the U.S. legal regime.
About FinCanna Capital Corp.
FinCanna is a royalty company for the licensed medical cannabis industry, with a focus on California. FinCanna, led by a team of finance and industry experts, is building its portfolio of investments in scalable, best-in-class projects. FinCanna’s flagship investment is with Cultivation Technologies Inc. (“CTI”) to provide funding for its fully-entitled, large-scale indoor medical cannabis facility to be developed in Coachella, Southern California. This Coachella Campus will be a state-of-the-art facility that will include cultivation, extraction, manufacturing, testing and distribution. For additional information visit www.fincannacapital.com.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about how the developing U.S. legal regime will impact the cannabis industry. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the CSE listing statement and other reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
i Source: https://poll.qu.edu/national/release-detail?ReleaseID=2432.(showing public support for medical cannabis in the U.S. to be at 93%)
© 2020 Canjex Publishing Ltd. All rights reserved.