iAnthus Applauds U.S. Congress Reauthorizing the Rohrabacher-Blumenauer Amendment
NEW YORK and TORONTO, March 27, 2018 (GLOBE NEWSWIRE) -- iAnthus Capital Holdings, Inc. (“iAnthus” or “the Company”), (CSE:IAN) (OTCQB:ITHUF), which owns, operates, and partners with licensed cannabis operations throughout the United States, today issued the following statement in response to the inclusion of medical cannabis protections, known as the Rohrabacher-Blumenauer Amendment (“the Amendment”), in the omnibus spending bill passed by the U.S. Congress on Thursday, March 22. The Amendment prohibits the Department of Justice from using federal funds to interfere with state medical cannabis laws and the companies in compliance with those laws. This includes state regulated use, distribution, or cultivation of cannabis. The Company’s statement reads as follows:
“The passing of the Rohrabacher-Blumenauer Amendment as part of the omnibus federal spending bill again shows Congress’ support for protections for the medical cannabis industry. The Amendment has been included in every budget passed since 2014 and allowed the industry to flourish in states that have passed medical cannabis legislation. The passing of the Amendment also serves as a signal of support from Congress following the rescinding of the Cole Memorandum in January, a move that has had little to no material impact on the regulated cannabis market.
The American people have demonstrated overwhelming support for regulated cannabis and the right of states to determine their own cannabis laws. According to a study published by Gallup in October 2017, 76% of American voters believe the federal government should not interfere with the rights of states to determine their own cannabis laws, and an overwhelming 94% of American voters support medical cannabis. The reauthorization of Rohrabacher-Blumenauer is a good start for recognizing the wishes of the American electorate, but we encourage Congress to continue to explore and implement further protections for regulated cannabis.”
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company uses these skills to support operations across six states. For more information, visit www.iAnthusCapital.com.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in iAnthus' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, active cannabis legislation and other statements of fact.
Although iAnthus has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. iAnthus disclaims any intention or obligation to update or revise such information, except as required by applicable law, and iAnthus does not assume any liability for disclosure relating to any other company mentioned herein.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Chief Financial Officer
iAnthus Capital Holdings, Inc.
Phil Carlson / Elizabeth Barker
KCSA Strategic Communications
North 6th Agency
Released March 27, 2018