DENVER, CO, Feb. 18, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”), a business-to-business cannabis consulting solutions provider and licensed owner operator, is pleased to provide an overall update on Company progress and its plans for 2022.
The Company looks forward to a busy year in 2022 across all brands within its portfolio. Since its inception in 2013, much of ACC’s success was derived upon being a provider of end-to-end consulting services. The Company has spent considerable time aligning itself with strategies for long-term scalability and sustainability. The acquisition of Naturaleaf in April of last year gave ACC its first pivot point into a new core focus of overall business, providing the catalyst needed to connect its overall brand identity with clean green and organically based cannabis cultivation. Moving forward, the Company plans to focus on four primary areas of business that will further promote its clean green cannabis cultivation mission: operational management consulting, SoHum Living Soils®, Naturaleaf cultivation and dispensaries, and brand expansion by means of strategic mergers and acquisitions.
Ellis Smith, Co-Founder and the new CEO of American Cannabis Company, Inc., said: “This is going to be a very exciting year for the Company. We are now in a position to deploy our ‘cage-free cannabis’ products and services across all brands under the parent company umbrella. With this ability to now showcase our passion and expertise for a consistent high quality cannabis experience, ACC will continue to implement means to further validate our mission. We will continue to show the market how our products stand apart from other commercially manufactured products.”
In late 2021, the Company received an official certification from the Organic Materials Review Institute (OMRI) for its product, SoHum Living Soils®. This product is a fully amended, pH-buffered growing medium that will continue to disrupt the agricultural markets as a ‘Just Add Water’ super soil, acting to eliminate the human error element from cannabis and non-cannabis crop cultivation. SoHum Living Soils® was created to combat complex cannabis cultivation strategies as it is a complete living soil that optimizes a plant’s genetic potential. Designed to be ready to use, SoHum Living Soils® is a complete and diverse solution for both indoor and outdoor cultivation, combining the best of modern science and agriculture with traditional expertise and farming practices. With this recent approval from OMRI, SoHum Living Soils® is officially OMRI Listed® and appears on the OMRI Products Lists©.
In addition to this prominent certification, The Company recently secured Clean Green Certification for SoHum Living Soils® as well as for all products grown and manufactured under the Naturaleaf cultivation facility. To become Clean Green Certified® in both areas means that the flower product and biproduct, the facility, the cultivating processes, and input materials uphold strict standards that are consistently maintained under organically based regulations. Retail bags of SoHum Living Soils® are now carried in over one hundred and fifty (150+) retail stores and is a strategic growing component for many commercial cannabis cultivators. SoHum’s OMRI Listed® and Clean Green dual certification gives cultivators confidence in using this living soil solution as part of their organic growing process.
“We are at a very pivotal point in our Company. After having spent many years developing and refining our brand strategy, all brands under the American Cannabis Company name are now in alignment with the core mission to elevate the consumer experience by committing to wellness, quality products and organically based practices,” said Tyler Schloesser, Chief Operating Officer of American Cannabis Company, Inc. Mr. Schloesser continued: “We have the ability to offer Clean Green Certified® products that are grown using OMRI Listed® and Clean Green Certified® inputs, and this certainly differentiates us in the market.”
Through its plant-touching operation, Naturaleaf, the Company is actively selling Clean Green Certified® flower to medical patients through its three (3) retail channels within the city of Colorado Springs. The mission of the Company continues as it has worked with the Naturaleaf team to now offer Clean Green Certified® cannabis clones to the market along with an entire line of wholesale products including organically based flower, trim, and clone stock. Additionally, ACC has recently partnered with the official Bubba Kush brand to be the provider of clean green quality cannabis to the Colorado market. This opportunity gives the Company the ability to maximize the genetic potential of each licensed strain and allows for ACC and Naturaleaf to offer top-tier, organically based products to the conscious cannabis consumer.
On the consulting side of the Company, ACC is implementing its core mission and values across all projects related to existing clients. Currently, the Company is working on several large-scale cultivation operational deployment and management activities for clients in both Michigan and Arizona. When completed, these operations will be managed by ACC and set to produce quality cannabis that is cultivated using practices that are consistent, replicable, and clean.
Ellis Smith commented: “We are excited to be able to adapt and apply our processes, methodologies, and technological resources to our current client projects as well as all future clients and partners that seek to up-level the way in which cannabis is produced in their respective region(s) of the world. Our brand identity stands upon quality, and with that being said, I think it’s important to convey this steadfast approach that our team holds to redefine society’s relationship with cannabis through responsible stewardship. We are approaching 2022 with a clear focus, and we will continue to expand our footprint and scale all of our brands with a push toward clean green, organically based practices.”
About American Cannabis Company, Inc.
American Cannabis Company, Inc. offers clean green 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. The Company currently owns and operates Naturaleaf in Colorado Springs, Colorado. This medically licensed entity consists of three (3) retail dispensaries, one (1) commercial cultivation facility, and one (1) non-volatile extraction operation. American Cannabis Company has also developed SoHum Living Soils® – Winner of the High Times S.T.A.S.H. Award for “Best Potting Mix”, OMRI Listed®, and Clean Green Certified®.
For more information about American Cannabis Company, please visit:
https://americancannabisconsulting.com/resources/video/ (ACC Site)
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, 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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