DENVER, CO -- May 3, 2022 -- InvestorsHub NewsWire -- American
Cannabis Company, Inc. (ACC), a business-to-business cannabis
consulting solutions provider and licensed owner-operator, and
KORcannabis, one of the nation's most advanced multi-state
seed-to-sale operators, announced today that they have formed a
high-impact strategic alliance to revolutionize the cannabis
industry with innovative technology, clinical research, and novel
agricultural practices.
The mutually beneficial relationship leverages the two entities'
highly specialized skillset 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 firms will
help drive 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 field of cannabis. Ellis Smith and
his team have years of industry knowledge throughout the US, which
has culminated in their development of a state-of-the-art platform
ranging from business development, licensing strategies,
cultivation, extraction to facility design. I am excited to execute
the plan developed by Ellis and work hand in hand with his team,"
said Scotty Branch, co-owner of KORcannabis.
The KORcannabis and ACC strategic alliance establishes 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. In
unprecedented fashion, this highly advanced, laboratory-grade
indoor cultivation facility contains over 4000 lights, a full
pharmaceutical-grade lab, and in-house quality control and
analytical testing capabilities. All equipment, infrastructure, and
processes are being developed to GMP / EUGMP / ISO standards and
qualifications.
Simultaneous to the Arizona buildout, KORcannabis is working
with ACC to launch a facility in Mississippi. They plan to reach a
third state in 2022 and three more in 2023. Also, KORcannabis is
growing its clinical research division, which focuses on the
development of targeted cannabis therapies and drug delivery
devices.
"I'm thrilled we can align with KORcannabis to assist in rapidly
nationalizing the company’s footprint to key geographical areas and
high-growth markets. They have built a reputation of excellence and
are on the cutting edge of the emerging cannabis
market," said Ellis Smith, CEO of American Cannabis
Company.
About American Cannabis Company, Inc.
American Cannabis Company,
Inc. offers clean green solutions to existing and aspiring
participants in the cannabis and hemp industries. They utilize
their industry expertise to provide business planning and market
assessment services, assist state licensing procurement, 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,
one commercial cultivation facility, and one non-volatile
extraction operation. American Cannabis Company has also
developed SoHum Living Soils®, a winner of the High
Times S.T.A.S.H. 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:
www.theacclife.com
www.americancannabisconsulting.com
www.sohumsoils.com
Video Links:
https://americancannabisconsulting.com/resources/video/ (ACC
Site)
https://www.youtube.com/watch?v=XoIcopO2yE8&t (SoHum
Living Soils®)
ACC Contact:
IR@americancannabisconsulting.com
303-974-4770
For more information about KORcannabis, please visit:
www.korcannabis.co
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, which 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.
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