On Thursday, January 4, 2018, US Attorney General Jeff Sessions rescinded what was known as the “Cole Memo”, an Obama-era policy instructing the U.S. Department of Justice not to allocate funds for enforcement of federal marijuana laws in states that have approved regulatory systems in place for medicinal and recreational marijuana. This move surprised many in the industry and across the nation as public approval of marijuana legalization is at an all-time high.
Although Medical Marijuana, Inc. supports the legalization of safe access to marijuana for consumers on a local and federal level, Medical Marijuana, Inc. will not be affected in any way by this recent decision by the Attorney General. The Cole Memo and the laws related to it do not pertain to Medical Marijuana, Inc. or any of its subsidiaries as none of their products are derived from marijuana. Medical Marijuana, Inc. and its subsidiary companies sell only products derived from the part of the cannabis plant that is exempt from the definition of marijuana under federal law (sometimes referred to as “Industrial Hemp”) which contain naturally occurring cannabinoids, including cannabidiol. These products are, and have been for decades, legal under well established federal law. Medical Marijuana, Inc. will continue operations as usual in compliance with all regulations while always advocating for safe access to marijuana products for consumers nationwide.
“Though the news of this new statement is surprising, especially just days after marijuana was approved for recreational adult-use in California by 37 million voters there, we want to reassure our supporters and investors that Medical Marijuana, Inc. is in full compliance with federal law and will not be affected by this new decision,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “As industry leaders, we look forward to staying abreast on all news regarding cannabis legislation and will continue to be a part of the conversation.”