DENVER, CO, May 03, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – American Cannabis Company, Inc. (ACC), a licensed owner-operator and business-to-business cannabis consulting solutions provider, and KORcannabis, one of the of the most advanced multi-state seeds for sale, today announced that they have formed a high-impact strategic alliance to revolutionize the cannabis industry with innovative technology, clinical research and new agricultural practices.
The mutually beneficial relationship leverages the highly specialized skills of both entities working in tandem for the betterment of the burgeoning industry. ACC brings years of success providing comprehensive consulting services to complement KORcannabis’ commitment to product quality and sustainability as well as its innovative approach to patient care. The combined strengths of both companies will help set new industry standards to create an optimal end-user experience.
“Our strategic alliance with ACC stems from trust due to their vast experience in the cannabis field. Ellis Smith and his team have years of industry knowledge across the United States which has resulted in the development of a cutting-edge platform ranging from business development, licensing strategies, culture,… extraction to the design of the facilities. I’m excited to execute the plan Ellis laid out and work hand-in-hand with his team,” said Scotty Branch, co-owner of KORcannabis.
The KORcannabis and ACC strategic alliance sets a new industry standard known as Farmaganix. This cultivation methodology combines Clean Green Certified® SoHum Living Soils® with proprietary cultivation practices to create the safest and most effective plant therapies for cannabis users.
Currently, KORcannabis is working with ACC on a new state-of-the-art super facility in Scottsdale, Arizona. Unprecedented, this highly advanced laboratory-grade indoor grow facility contains over 4000 lights, a comprehensive pharmaceutical-grade laboratory, and in-house quality control and analytical testing capabilities. All equipment, infrastructure and processes are developed in accordance with GMP / EUGMP / ISO standards and qualifications.
Concurrent with construction in Arizona, KORcannabis is working with ACC to launch a facility in Mississippi. They plan to achieve a third state in 2022 and three more in 2023. Additionally, KORcannabis is expanding its clinical research division, which focuses on the development of targeted cannabis therapies and drug delivery devices.
“I am delighted that we can align with KORcannabis to help quickly nationalize the company’s footprint in key geographies and high-growth markets. They have built a reputation for excellence and are at the forefront of the market. emerge from cannabis.“, said Ellis Smith, CEO of American Cannabis Company.
About American Cannabis Company, Inc.
American Cannabis Company, Inc. offers clean, eco-friendly solutions to existing and potential participants in the cannabis and hemp industries. They use their industry expertise to provide business planning and market assessment services, assist with state licensing, and create business infrastructure operational best practices. ACC currently owns and operates Naturaleaf in Colorado Springs, Colorado. This medically licensed entity consists of three retail dispensaries, a commercial cultivation facility, and a non-volatile extraction operation. American Cannabis Company also developed SoHum Living Soils®, winner of the High Times STASH Award for “Best Potting Mix”. SoHum Living Soils® products are also OMRI® listed and Clean Green Certified®.
For more information about American Cannabis Company, please visit:
https://americancannabisconsulting.com/resources/video/ (ACC website)
https://www.youtube.com/watch?v=XoIcopO2yE8&t (SoHum Living Soils®)
For more information about KORcannabis, please visit:
This press release contains “forward-looking statements”, which are not purely historical and may include statements regarding beliefs, plans, expectations or intentions regarding the future. These 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”, “will expect”, “project”, “plan”. These or similar expressions may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ from those projected in the forward-looking statements due to numerous factors. These factors include, but are not limited to, the inherent uncertainties associated with new projects, future U.S. and global economies, the impact of competition, and the company’s dependence on existing regulations regarding the use and cannabis drug development are made as of the date of this press release, and we undertake no obligation to update any pro statements. forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. ents. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct. Investors should review all information set forth herein and should also refer to the disclosure of risk factors described 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, 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 one form or another for medical and/or recreational use governed by state-specific laws and regulations. State. Although legalized in some states, cannabis is a “Schedule 1” drug under the Controlled Substances Act (21 USC § 811) (“CSA”) and is illegal under federal law. Cannabis and its derivatives are considered highly addictive and of no medical value. The United States Drug Enforcement Agency enforces the Controlled Substances Act, and people who violate it are subject to federal criminal prosecution.
Following the November 2020 federal election and the election of Joseph R. Biden as President, the federal government is expected to amend portions of the CSA and remove cannabis as a drug from the Annex 1.
In late January 2021, Senate Majority Leader Chuck Schumer said lawmakers were consolidating various cannabis bills, including his own legalization legislation. He is working to enact reform in this session of Congress. This would include the Marijuana Freedom and Opportunity Act, which would suppress cannabis at the federal level, reinvest tax revenues in communities hardest hit by the war on drugs, and fund efforts to clear old cannabis records. It is likely that the Marijuana Opportunity, Reinvestment, and Debarment (MORE) Act will be incorporated.
Other federal laws being considered for possible submission include the SAFE Banking Act (or Secure and Fair Enforcement Act), a bill that would allow cannabis companies to access the banking system and federally insured capital markets without the risk of federal enforcement action, and the Strengthening the Tenth Amendment
Through the Entrusting States Act (or STATES Act), a bill that seeks to protect businesses and individuals in states that have legalized and are complying with state laws).
Specifically with respect to our business, on November 1, 2019, Colorado Bill HB-19-1090 was passed into law and brought into effect. This law allows publicly traded companies to apply for and qualify for ownership of Colorado cannabis licenses. Other states that have legalized cannabis for recreational and/or medicinal use prevent public companies from holding interests in state cannabis licenses, or have passed regulations that make it difficult for companies to comply with application requirements, including all shareholders who submit and pass background checks. .
On September 18, 2020, Colorado’s Marijuana Enforcement Division (MED) approved the company’s application for eligibility, establishing the company as one of the few publicly traded companies authorized to acquire and operate various cannabis licenses throughout Colorado, both in the recreational and medical markets. .