DENVER, CO — via NewMediaWire – American Cannabis Company, Inc. (OTCQB: AMMJ) (ACC), a business-to-business cannabis consulting solutions provider and licensed owner operator, is pleased to announce a partnership with the Bubba Kush cannabis brand.
As part of this partnership, the Company will provide extensive cultivation and consulting services to Bubba Kush, and work closely with them to produce a line of Clean Green Certified® cannabis. In addition, ACC will produce, package, sell and distribute the Bubba Kush brand across Colorado.
“I am truly excited to work with the Bubba Kush brands and support such a long-standing cannabis strain that has been a staple in gardens for over 25 years. Our goal is to build on our relationship with the Bubba Kush brand and expand into new markets with them,” said Ellis Smith, co-founder and CEO of American Cannabis Company.
This partnership also gives ACC the opportunity to offer top-tier, organically based products at their Naturaleaf retail dispensaries, located in the Colorado Springs area.
“We see this as a partnership that will allow us to not only have a top-notch grow partner in the medical market of Colorado, but also to pursue other collaborations as a team throughout the legal cannabis industry,” said Reggie Harris, CEO and co-founder of BK Brand Wellness, LLC. “We are very careful with whom we will align our brand and grow alongside. Ellis and his team really embrace the journey of bringing legacy genetics to the current marketplace while looking for new innovations in this fast-changing industry. We believe this provides a great complement to the Bubba Kush core values and objectives.”
Ultimately, this partnership is a true win for the conscious cannabis consumer in Colorado. Each year, there is a growing number of individuals who prefer to consume high quality, clean green cannabis products which are both better for the environment and provide a more enjoyable smoking experience.
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. 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:
https://www.youtube.com/watch?v=XoIcopO2yE8&t (SoHum Living Soils®)
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.
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