CORAL GABLES, FL / ACCESSWIRE / January 8, 2018 / Last Thursday, Attorney General Jeff Sessions once again showcased his opposition towards marijuana by rescinding an Obama-era memorandum to alleviate the enforcement of federal marijuana laws in the states that have legalized marijuana. This move had repercussions for the entire North American industry, triggering a sharp sell-off for many cannabis stocks. In spite of this fact, many had seen this as just another one of the many comments that officials have made over the years that may not have an actual impact on the industry after all.
Revenue from taxes and fees has continued to climb each year. Colorado alone has been able to "harvest" half a billion dollars in taxes and fees since the legalization of recreational weed began in 2014. Should the government intervene on a federal level, this could mean millions of tax revenue simply forfeited because of the opposing views of certain officials. As many investors have seen this as a reason for supporting cannabis, several companies have begun to reach new investors, including GT Biopharma (OTCQB: GTBP) and ABcann Global (OTCQB: ABCCF).
GT Biopharma ("GTBP") has gained more attention in the market after that company announced that it had filed its application for NASDAQ Capital Markets Listing. The company's executive chairman, Anthony J. Cataldo, stated the company's intention was to up-list to NASDAQ on a shareholder conference call back in August, so this recent move is in line with the corporate strategy previously laid out.
Further to this, the company has also been able to hit certain key milestones that include approved FDA IND Transfer of its First TriKE (OXS-3550), as well as the start of the manufacturing of its "Non-Opioid" Pain-Brake Drug.
Over recent months, the company has also begun to add key talent to its management and advisory team. This includes the likes of Dr. Clarence-Smith, with integral experience at companies like Hoffmann-La Roche, Sanofi, and Chase Pharmaceuticals. Another recent addition to the team was Dr. Raymond Urbanski and Dr. Thomas N. Chase. Access more info on GT Biopharma Here.
In addition to GT Biopharma, ABcann Global ("ABCCF" or "ABcann") has also seen its share of increased attention within the last six months. Last week, the company announced the appointment of Sung Kang as its Chief Marketing Officer. Kang brings previous experience from General Mills, Novartis Consumer Health, and Mark Anthony Group. The recent receipt of a license by Health Canada to produce medical oils has also become a cornerstone of the positive appeal that this company has seen in the market. In fact, since early November, shares of ABcann have seen an increase of more than $0.80 per share.
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance, or achievements expressed or implied by such statements. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. An Affiliate company MIDAM VENTURES LLC., a Florida corporation, has been compensated $150,000.00 by a GT Biopharma Inc. for a period beginning Jan 1, 2018 and ending Feb. 1, 2018 to publicly disseminate information about GTBP. We own zero shares. Full Disclaimer.
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