American Cannabis Company, Inc. Receives Approval from Colorado’s Marijuana Enforcement Division (MED) and the City of Colorado Springs to Acquire, Own, and Operate Naturaleaf™ in Southern Colorado

DENVER, CO / NEWMEDIAWIRE / May 4, 2021 – American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”) is pleased to announce that on April 30, 2021,  Colorado’s Marijuana Enforcement Division (MED) and the City of Colorado Springs granted regulatory approvals for the Company’s acquisition and operation of Medihemp, LLC, and its wholly owned subsidiary SLAM Enterprises, LLC, and Medical Cannabis Caregivers, Inc., all doing business as Naturaleaf™, a long-standing vertically integrated cannabis business.

As a result of the regulatory approvals and the closing of the asset purchase, the Company acquired Naturaleaf’s three medically licensed retail stores, and a 10,000 square foot cultivation and extraction facility located in the metropolitan area of Colorado Springs. Naturaleaf™ has earned a strong reputation for its quality products and customer experience, having served its loyal and growing patient base since 2009.

“We are incredibly happy to have completed this acquisition, and this is only the beginning,” said Terry Buffalo, Chief Executive Officer of American Cannabis Company. Buffalo continued, “With the approval from the regulatory bodies now behind us, this is where the real work starts. Brand integration is key for success, and our team is working diligently to dial in processes and procedures, as well as implementing ACC’s company culture and core values, while also maintaining Naturaleaf™ brand integrity. We look to expand production capacities by revamping the cultivation operation, adding technology and equipment, including our proprietary cultivation methodologies and ‘just add water’ all-natural potting mix, SoHum Living Soils®, to effectively grow a consistent, high-value flower product. In addition to the modifications we plan to make in the back of the house, we also aim to elevate the retail experience by adding best-in-market products, new retail equipment and technologies to maximize customer/patient experience, as well as maintain consistent inventories. With this acquisition we anticipate over $2mm+ in gross revenue, and we look to increase upon that. For more details, please read the Company’s most recent 8-K filings.”

Scott Saunders, owner of Naturaleaf™, commented: “We are happy to have been acquired by American Cannabis Company. Since 2009 Naturaleaf has been pioneering the local medical market. The staff is excited to transition under the ownership of a public company, and I am excited for the people of Colorado Springs to see what American Cannabis Company is going to bring to the local community.”

Overall 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.

On March 11, 2021, American Cannabis Company announced that it had executed the official Asset Purchase Agreement (APA) and on April 20, 2021 the Company received a contingent approval letter from Colorado’s Marijuana Enforcement Division (MED), outlining the change of ownership.

After now having obtained final regulatory approval transferring the Naturaleaf™ licenses to the Company, and finalizing the closing of the asset purchase transaction as of April 30, 2021, 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

For a complete disclosure of the acquisition for Naturaleaf™ and the received regulatory approval, see the Company’s Form 8-K filed with the Securities and Exchange Commission:

https://www.sec.gov/Archives/edgar/data/945617/000172186821000254/f2sammj8k043021.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®)

About Naturaleaf™

Naturaleaf™, a well-known brand frequently sought out by locals in the Colorado Springs area, has been providing medical patients with cannabis and cannabis-derived products for over ten (10) years. It’s staff and patient specialists maintain a very active presence in the local community, strive to find patients the right medicine for present or given conditions, and promote cannabis education to its patrons in a one-on-one retail concierge experience.

For more information on Naturaleaf™, please visit:

www.thenaturaleaf.com

 

Contact:
[email protected]

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 Formation of Advisory Board

DENVER, CO / NEWMEDIAWIRE / March 18, 2021 – 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:
[email protected]
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

DENVER, CO / NEWMEDIAWIRE / March 16, 2021 – 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:
[email protected]

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.

 

 

Mississippi Legalization: What You Need to Know

jars of marijuana on a prescription pad - Mississippi medical marijuana

In November, Mississippi passed Initiative 65 which legalized medical marijuana statewide. While the legalization hurdle has been cleared, there is still a complex process that must be worked through before the state’s MMJ program goes into effect. If you’re considering opening a medical cannabis operation in Mississippi, it’s crucial that you become familiar with the laws and regulations governing this fledgling industry.

The following information will provide you with a basic overview of the important points to understand regarding Mississippi’s new cannabis industry. For a more detailed explanation of what is involved in the process, we recommend that you speak with one of our expert consultants.

American Cannabis Company has extensive experience helping individuals open a new cannabis business in states that have just legalized. We understand the complex process involved, and we can set you up for success in your new business venture.

When Will Medical Cannabis Be Available in Mississippi?

Initiative 65 has set two deadlines to ensure the process moves forward in a timely manner:

  • July 1 – Mississippi State Department of Health (MSDH) must implement provisions of the amendment and issue rules and regulations for the medical marijuana program
  • August 15 – The state must begin issuing identification cards and licenses for treatment centers

Based on these deadlines, it’s possible that medical cannabis will be available sometime this fall. However, this timeline is dependent on how smoothly the process of establishing the state MMJ program goes.

Who Is Governing Mississippi’s Medical Cannabis Program?

The Mississippi State Department of Health will regulate the medical marijuana program. The MSDH is governed by an 11-member Board of Health appointed by the governor. The MSDH will be responsible for:

  • Issuing ID cards to patients
  • Licensing growers and dispensers of medical cannabis
  • Licensing caregivers who assist patients in obtaining and using cannabis
  • Establishing licensing fees and other qualifications

However, the MSDH will not have the ability to regulate the price of medical marijuana. While the state can’t charge sales tax on MMJ products, the MSDH will be able to assess surcharges up to the current sales tax rate in order to fund the regulation of the state medical cannabis industry.

What Are the Regulations Governing Cannabis Business Licenses in Mississippi?

a book displaying federal and state marijuana laws - Mississippi MMJ regulationsCurrently, Mississippi is only offering licenses for a “Medical Marijuana Treatment Center.” These businesses must be properly registered and licensed in order to engage in any activities associated with the processing or sale of medical cannabis. The is no limit on the number of licenses that can be issued statewide.

When preparing your application for licensure, it’s important to create a cannabis business plan. This plan must detail:

  • What kind of dispensary you plan on opening
  • How long you plan to operate in Mississippi
  • What the main points of your business are

It’s also important to understand that municipal regulations may vary across the state. Some cities and counties may have more favorable rules, while others may have regulations that are more restrictive to opening a new cannabis business. Therefore, it’s always a good idea to research these local laws before determining the location of your business.

Potential Challenges Facing Mississippi’s New Medical Cannabis Program

While the largest hurdle (passing Initiative 65) has been cleared, there are still several challenges to overcome as Mississippi rolls out their new medical marijuana program. Most importantly, the ballot initiative must pass a review by the Mississippi Supreme Court that questions the validity of the ballot measure. This ruling is expected to come shortly.

Once this review has been completed, the MSDH will be tasked with outlining all regulations associated with the medical cannabis program by the July 1 deadline. This will involve a steep learning curve for the MSDH since many of the items to be addressed lie outside of their current area of expertise. Initiative 65 allows for the creation of an advisory committee to assist the MSDH with their regulatory activities, and this should provide important guidance as they finalize the details of the new program.

Another significant challenge the state may face involves funding for the new program. Initiative 65 established $2.5 million in funding for the MSDH to use in association with creating the medical cannabis program. However, the MSDH believes this amount will likely only cover a fraction of the costs associated with this task. It has been estimated that closer to $10 million in funding will be required to adequately establish the new program. This may force the MSDH to request additional funding from the Mississippi legislature.

In addition to the shortage of funding, the MSDH may also face a staffing issue. The agency is already spread thin in their resources and staffing before being tasked with managing the new MMJ program. This added responsibility may potentially create an even greater strain on their limited resources, which may impact the rollout of this new program.

American Cannabis Company Can Help You Establish Your New Business

The legal hurdles associated with establishing a new cannabis business in Mississippi can be overwhelming. Regulations are still being formulated, and the licensure process is highly complex. It’s crucial that you have an experienced cannabis consulting partner who can guide you through the process and ensure your business is compliant with all regulations.

American Cannabis Company has helped a wide range of business owners establish cannabis operations throughout the country. We’ve worked with many businesses in states that had just legalized cannabis, and we understand the important issues that must be addressed in the early stages of a state rolling out their new program. Our team can help you navigate these legal hurdles in order to set your new business venture up for success.

We’re the only cannabis pre-license specialists in the United States with a License Right™ approach for obtaining a license and starting a new cannabis business. This approach involves:

  • Tailoring our recommendations to ensure they adhere to Mississippi guidelines and regulations
  • A detailed explanation of the opportunities available that meet your specific goals
  • Cohesive and comprehensive business planning
  • Our exclusive Green Profits Operations Roadmap™
  • Our Aligned Success Guarantee™

Our consultants will take a flexible approach that places your specific needs and business goals at the forefront of the process. We’ll collaborate with you to establish a detailed business plan that encompasses every aspect of your operation. By joining our community, you’ll benefit from working with a team that possesses the knowledge necessary to allow your new cannabis business to thrive.

If you’re interested in opening a medical cannabis business in Mississippi, it’s crucial that you start planning right away. American Cannabis Company can provide important guidance in the early stages of the planning process to set your new business up for success.

Schedule a Consultation

Please contact us today to schedule a consultation. We provide cannabis consulting services nationwide.

American Cannabis Company, Inc. Discusses Its 2021 Acquisition Strategy with The Stock Day Podcast

Phoenix, Arizona–(Newsfile Corp. – January 28, 2021) – The Stock Day Podcast welcomed American Cannabis Company, Inc. (OTCQB: AMMJ) (“the Company”), a company that offers end-to-end solutions to existing and aspiring participants in the cannabis and hemp industries. CEO of the Company, Terry Buffalo, joined Stock Day host Everett Jolly.

Jolly commented on the Company’s impressive growth over the last year, and asked about their background and current projects. “American Cannabis Company has been around since 2013,” shared Buffalo. “The company has built out over 2 million square feet of growth space, and along the way we have been looking to add additional products and services, which we have with SoHum Living Soils®,” he continued. “We’re currently looking to make these acquisitions and we’re happy to be able to diversify our income, and hopefully level our income, by adding these acquisitions to our portfolio.”

Jolly then asked about the Company’s recent announcement detailing a non-binding Letter of Intent (LOI) to purchase assets of Good Meds and BOSM Labs, a cannabis cultivation and extraction facility operating in a 60,000 sq. ft. building. “We have started the due diligence and the audit process is underway, and we’re looking to close this acquisition hopefully in the second quarter of this year,” said Buffalo. “It provides us the opportunity to expand up to 60,000 sq. ft. to help meet the growing medical and adult demand in the Colorado market.”

The conversation then turned to BOSM Labs, which produces live resin, live batter, budder, and shatter. “One of the big advantages of BOSM is that it is a hydrocarbon extraction lab. So, that will provide us the ability to add new products, SKUs, and meet the ever-growing demand here in the Colorado market.”

“What do you think will be some of the catalysts you will try to get done in the next two to three quarters?” asked Jolly. “The biggest thing is to get these two acquisitions that we have on the schedule for 2021, get them integrated into the company, and then start looking for 2022 opportunities,” said Buffalo.

Buffalo then elaborated on the Company’s consulting services division. “We’ve seen a big increase in calls and emails into the company. We have new clients now in all five states, and we are currently looking to add a few more in each one of those five states,” said Buffalo. “We’re looking for additional states to potentially come onboard before the end of the year, which will hopefully increase our consulting business for 2021.”

To close the interview, Buffalo shared that the Company will continue to be strategic in their acquisitions with a strong focus on building shareholder value. “We’re not just looking at top-line numbers, we’re looking to see how we can have profit,” said Buffalo. “That is our goal and I appreciate our shareholders being patient,” he added. “We’re working every day to bring value and provide a much cleaner type of product for the consumer than what is out there right now. Cleaner and greener is always the standard.”

To hear Terry Buffalo’s entire interview, follow the link to the podcast here: https://audioboom.com/posts/7784397-american-cannabis-company-inc-discusses-its-2021-acquisition-strategy-with-the-stock-day-podcast

Investors Hangout is a proud sponsor of “Stock Day,” and Stock Day Media encourages listeners to visit the company’s message board at https://investorshangout.com/

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™. We also design and provide 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

For more information on Good Meds, please visit:
https://www.goodmeds.com/

For more information on BOSM Labs, please visit:
https://www.goodmeds.com/bosm-labs/

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®)

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”, 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.

Contact:

[email protected]
303-974-4770

About The “Stock Day” Podcast

Founded in 2013, Stock Day is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Stock Day provides companies with customized solutions to their news distribution in both national and international media outlets. The Stock Day Podcast is the number one radio show of its kind in America. Stock Day recently launched its Video Interview Studio located in Phoenix, Arizona.

SOURCE:

Stock Day Media
(602) 821-1102

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73058

American Cannabis Company, Inc. Announces Execution of Non-Binding Letter of Intent for Strategic Acquisition of a 60,000-sq.-ft. Cannabis Cultivation and Extraction Operation in Denver, Colorado

DENVER, CO / NEWMEDIAWIRE / January 21, 2021 – American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”) is pleased to announce that it has successfully executed a non-binding letter of intent (LOI) with Andina Gold Corporation (OTCQB: AGOL) to purchase assets of its Good Meds and BOSM Labs operating division, a fully licensed cultivation and extraction operation in Colorado offering premium cannabis and cannabis extracts to the wholesale and retail medical and recreational markets. Assets are to include one cultivation operation and one hydrocarbon extraction laboratory and production center. All assets to be acquired will operate out of a 60,000-square-foot facility, centrally located in Denver, Colorado. Currently, only 50,000 square feet of space are being utilized, with 10,000 square feet of additional open space ready and available for the Company to use as it looks to scale up operations.

Since 2009, the Good Meds brand has cultivated and provided top-tier cannabis flower products to medical patients and recreational consumers in Colorado. BOSM Labs carries a strong reputation as a high-end manufacturer of well-known hydrocarbon-extracted cannabis products. Combined under one roof, these brands act as one of few long-standing and major contenders in the maturing Denver market.

Christopher Hansen, Chief Executive Officer of Andina Gold Corporation, commented: “We are pleased with the non-binding letter of intent with American Cannabis Company, and look forward to working with Terry Buffalo and his team to complete the transaction. The dedicated, consistently excellent work of Good Meds and BOSM Labs personnel has been the driver of their excellent reputation. We also appreciate the steady leadership through this transitional period provided by Amanda Price and John Haugh. We feel confident the impressive work of Good Meds and BOSM Labs will continue as we hand over the keys to American Cannabis Company.”

Terry Buffalo, Chief Executive Officer and Chief Financial Officer of American Cannabis Company, commented, “This is another strategic move for ACC. Officially having secured two non-binding LOIs to date, ACC will soon integrate three retail dispensaries and a total of 70,000 square feet of combined cultivation and extraction operations. The due diligence process for Good Meds and BOSM Labs has begun, and we anticipate this to close in Q2 of 2021. We analyzed many opportunities both here in Colorado as well as in other states, and we ultimately chose to focus on the Colorado market initially. This approach will allow us to improve existing operational processes, refine our workflow and deploy an operational management platform that we can use as we branch out to other regions of the country.”

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®)

 

About Good Meds

Founded in 2009, Good Meds medical cannabis dispensaries in Englewood and Lakewood, Colorado offer affordable access to premier cannabis for registered Colorado medical cannabis patients. The company’s carefully curated genetics are grown using the highest quality ingredients, to address a full spectrum of medical ailments. Good Meds generates revenue through its retail sales as well as wholesale products sold to non-Good Meds retail outlets in the recreational market. Good Meds supports the growth of the cannabis industry and abides by responsible business practices. The Good Meds assets were acquired by Andina Gold Corp. in 2019. For more information on Good Meds, please visit: https://www.goodmeds.com/.

About BOSM Labs

Serving the Colorado market since 2017, BOSM Labs balances science and art to produce quality-first, boutique extracts sold at both medical and recreational cannabis outlets. BOSM’s single-source concentrates begin with an artisan cultivation team and end with pronounced flavors that truly capture the essence of the flower at harvest. For more information on BOSM Labs, please visit: https://www.goodmeds.com/bosm-labs/.

 

Contact:
[email protected]

303-974-4770

[email protected]

303-222-8092

 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.

Terry Buffalo To Be Judge on the Investor Hot Seat Webinar

Denver, CO, January 19, 20210 – American Cannabis Company will be represented by our CEO, Terry Buffalo who will be an Investor Judge at the upcoming “Investor Hot Seat – Virtual Webinar”.

The first half of the webinar will focus on speakers and panels discussing strategies to mitigate risk investing in different investment opportunities.

This will be followed by a panel of investor judges who will listen to presentations from companies in the Investor Hot Seat that are raising capital from investment opportunities in agriculture, alternative funds, ESG, fintech, cannabis, health, hemp, media, medical, real estate, sustainability, and tech.

Please click here to register for the “Investor Hot Seat – Virtual Webinar”.

Investor Hot Seat Format

  • 11:00 AM – 1:00 PM PST – Speakers & Panels (25 Minutes)
  • 1:00 PM – 3:00 PM PST – Investor Pitch Competition
  • 3:00 PM – 4:00 PM Zoom Room Networking with Investors
  • Speakers & Panels (25 Minutes)
  • There are up to 8 companies that will be selected to pitch to a panel of investor judges and an audience of additional investors online.
  • Each company will receive 12 minutes to present and answer questions by judges.
  • Register Here

American Cannabis Company, Inc. Discusses Non-Binding LOI for The Acquisition of Naturaleaf with The Stock Day Podcast

Stock Day Podcast featuring Terry Buffalo

 

Phoenix, Arizona–(Newsfile Corp. – December 22, 2020) – The Stock Day Podcast welcomed American Cannabis Company, Inc. (OTCQB: AMMJ) (“the Company”), a company offering end-to-end solutions to existing and aspiring participants in the cannabis and hemp industries. CEO of the Company, Terry Buffalo, joined Stock Day host Everett Jolly.

Jolly began the interview by commenting on a recent press release by the Company detailing the execution of a non-binding letter of intent to purchase assets of Naturaleaf. “We’ve been looking for over a year to make an acquisition here in Colorado,” explained Buffalo. “Luckily, we came across Naturaleaf in Colorado Springs,” he continued. Buffalo then shared that the acquisition assets include three retail dispensaries, as well as a cultivation operation. “Naturaleaf is very compliant. Their financials are in order, and I can’t say enough about their team.”

“We have started doing our due diligence and the audit process is underway. We hope to have this closed by the first quarter of 2021,” shared Buffalo, adding that Naturaleaf is already established as a profitable company.

“What kind of impact will this have if it goes through?” asked Jolly. “It definitely will more than double our gross revenue from the previous year,” said Buffalo.

Jolly then asked about the potential of additional acquisitions in the near future. “We’re continuing to look in the Colorado market. We do have a couple of deals that we’re still negotiating,” explained Buffalo. “Our primary focus right now is in the Colorado market; we do see opportunity here.”

The conversation then turned to the discussion of new services launching in 2021. Buffalo elaborated on the Company’s cultivation management services and accounting services, which have received great feedback so far. “One of the things we’re really proud about is the new design of our Cultivation Cube™,” shared Buffalo. “One additional thing we’ve been able to do is offer [Cultivation Cube™] financing for qualified investors, not [directly] through American Cannabis Company, but through a third party.”

To close the interview, Buffalo thanked his shareholders for their continued patience and support. “We’ve always been very slow and methodical in our approach. We’re looking for opportunities that are going to create value for our shareholders,” said Buffalo, noting the potential of the acquisition of Naturaleaf. “We’re definitely looking for opportunities to bring to the company that will increase our shareholder value and provide us with positive cash flow.”

To hear Terry Buffalo’s entire interview, follow the link to the podcast here: https://audioboom.com/posts/7756353-american-cannabis-company-inc-discusses-non-binding-loi-for-the-acquisition-of-naturaleaf-with

Investors Hangout is a proud sponsor of “Stock Day,” and Stock Day Media encourages listeners to visit the company’s message board at https://investorshangout.com/

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™. We also design and provide 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

For more information on Naturaleaf, please visit:

www.thenaturaleaf.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®)

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”, 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.

Contact:
[email protected]

303-974-4770

About The “Stock Day” Podcast

Founded in 2013, Stock Day is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Stock Day provides companies with customized solutions to their news distribution in both national and international media outlets. The Stock Day Podcast is the number one radio show of its kind in America. Stock Day recently launched its Video Interview Studio located in Phoenix, Arizona.

SOURCE:
Stock Day Media
(602) 821-1102

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70812

New Jersey Cannabis Legalization: What You Need to Know

This past November, New Jersey residents voted to legalize the recreational use of cannabis for individuals over the age of 21. Anytime a state first legalizes cannabis, it triggers a complex process that must be completed before operations can open for business. This process is already underway in New Jersey, as they have been acting fast to get their legal cannabis industry up and running.

The following information will provide an overview of important points you need to know if you’re interested in entering New Jersey’s fledgling cannabis industry.

When Will Use of Recreational Cannabis Officially Be Legal?

Newark road sign with a picture of a marijuana leaf - New Jersey Cannabis LegalizationWhile voters legalized adult use of recreational cannabis on election day, New Jersey lawmakers must pass a bill regulating the use of cannabis before it will officially become legal. While Senator Nicholas Scutari has expressed a hope that the bill will pass quickly, there is no exact timeline for when it will go into effect.

Senator Scutari and Senator Stephen Sweeney introduced Bill S-21 – “New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act” shortly after election day. Once it is ratified, the bill will make the personal use of cannabis legal for adults over the age of 21. It will also establish the Cannabis Regulatory Commission to oversee the cannabis industry in New Jersey.

What Is the Cannabis Regulatory Commission (CRC)?

The CRC will consist of five individuals appointed by the state to supervise the development, regulation and enforcement of cannabis sales and consumption throughout New Jersey. The CRC will also be responsible for implementing the legislation passed as part of Bill S-21.

Currently, two of the five members have been appointed. Dianna Houenou has been selected as the CRC Chair, and Krista Nash has been named a member of the CRC. In addition, Jeff Brown, New Jersey’s Assistant Commissioner of the Department of Health, has been mentioned as a leading candidate to be the first CRC Executive Director. This is a logical choice, as he currently oversees New Jersey’s medical marijuana program.

The CRC’s regulatory powers are still being formulated. At the moment, we know the CRC will have the authority to:

  • Adopt, amend or repeal regulations controlling the cannabis marketplace
  • Grant, refuse, suspend, revoke, cancel or limit licenses and conditional licenses associated with the cannabis industry

Cannabis Licensure in New Jersey

New Jersey has currently established six classes of cannabis licenses:

  • Class 1 Cannabis Grower License – allows you to grow, cultivate or produce cannabis in the state
  • Class 2 Cannabis Processor License – allows you to manufacture, prepare and package cannabis
  • Class 3 Cannabis Wholesale License – allows you to store and sell cannabis strictly for the purposes of resale
  • Class 4 Cannabis Distributor License – allows you to engage in intrastate transportation of cannabis in bulk
  • Class 5 Cannabis Retailer License – allows you to sell cannabis directly to consumers
  • Class 6 Cannabis Delivery License – allows for the delivery of cannabis from a licensed retailer to the general public

In addition, the CRC will have the ability to create new license categories as they deem necessary.

Focus on Promoting Small Businesses

cannabis dispensary signThe current version of Bill S-21 reserves 25% of all licenses in each class for microbusinesses. The purpose of this addition to the bill is to prevent large interstate franchises from dominating the New Jersey cannabis marketplace.

To be classified as a microbusiness, you must meet the following requirements:

  • You can only have a maximum of ten employees
  • You can process a maximum of 1,000 cannabis plats each month
  • Your cannabis establishment cannot exceed 2,500 square feet
  • You cannot acquire more than 1,000 pounds of cannabis in dried form for retail, resale or processing each month

The current bill also places some restrictions on the ability to hold two classes of licenses at the same time. Once retail sales launch in the state, there will be an 18-month limitation on the number and classes of licenses that any one individual may hold. In particular, a licensed grower, processor, wholesaler, distributor or delivery service cannot also obtain a retail license, and vice versa. In addition, growers and processors will only be allowed to hold two concurrent licenses at first.

Applying for a Cannabis License

License applications won’t be processed until all members of the CRC have been appointed and all CRC regulations have been established. This will most likely happen during 2021.

You must submit your license application to the CRC. You must also apply for separate licenses for each location where you intend to operate. You can file a renewal application up to 90 days prior to the expiration of your initial annual license.

The first steps you should take in preparing for obtaining a cannabis license include:

  • Create an application team to handle the process
  • Make sure your corporate formation documents are filed with the proper entity
  • Think about the location of your new cannabis business

You’ll need to provide the CRC with proof of local support for the location of your proposed cannabis business. In addition, the CRC plans to prioritize applications based on impact zones. An area will be considered an impact zone if it contains a population of at least 120,000 people and ranks in the top 40% of New Jersey municipalities for cannabis-related arrests.

American Cannabis Company Can Help You Establish Your New Business

The process of establishing a new cannabis business in New Jersey is highly complex and will be fraught with a variety of legal hurdles. It’s crucial that you work with an experienced cannabis consulting partner who can ensure you navigate these complexities properly. American Cannabis Company can help.

We have years of professional experience in the cannabis industry, and we’ve worked with a wide range of entrepreneurs throughout the country as they establish businesses in states that have recently legalized cannabis. Our team understands the process involved in navigating these legal hurdles, and we can set you up for success in your new business venture.

We’re the only cannabis pre-license specialists in the country with a License Right™ approach for obtaining a license and starting a new cannabis business. As part of this approach, you’ll receive:

  • Recommendations that adhere to New Jersey guidelines and regulations
  • An understanding of the opportunities available that meet your specific goals
  • Cohesive and comprehensive business planning
  • Our exclusive Green Profits Operations Roadmap™
  • Our Aligned Success Guarantee™

At American Cannabis Company, we believe in using a flexible approach that focuses on your specific needs and business goals. We’ll work with you to create a comprehensive solution that establishes a framework for every aspect of your operation. When you join our community, you’ll reap the benefits that come when you’re surrounded by others who share your passion for cannabis. Our expertise can set your business up for success and allow you to thrive in the burgeoning New Jersey cannabis landscape.

Contact Us

If you’re planning on opening a cannabis business in New Jersey, it’s important to start planning now. By working with you in the early stages of this planning process, we can ensure your operations are set up properly every step of the way.

Please contact us today to schedule a consultation. We provide cannabis consulting services nationwide.