Core One Labs Inc. (CLABF)

[Sam Dan]

Sessions folly is having an effect but here is a very interesting view by a noted investment manager
" Matt Bottomley says although this news heightens the risk profile of U.S. markets, he believes it does not impact the medical programs already implemented by 29 states. There is existing legislation that prohibits the use of federal funds to interfere in legal medical cannabis markets. As such, this overhang will likely only impact U.S. recreational markets. Although Bottomley believes these reports represent notable headline risk for the U.S.cannabis industry as a whole, he believes there are significant practical/logistical hurdles that the U.S. government would have to overcome to implement federal enforcement (including sufficient funding and staffing that is not currently in place). However, Bottomley expects this to weigh on stocks of U.S. cannabis companies and could hamper liquidity and new investment until further clarity is provided. Lastly, independent of Sessions’ plans, Bottomley believes there are still several mitigating factors at play, including: (1) over 60% of Americans support the legalization of cannabis, with bipartisan support in many US states; (2) sales from legalized markets bring in hundreds of millions of dollars in taxes annually. California’s recreational marijuana is estimated to provide the state with >$1billion in funds once fully implemented; and (3) there are a number of bills currently in Congress that call for the protection of legalized rec markets in the U.S., in order to eliminate crime and protect youth (including a bill introduced by Senator Corey Booker calling for the removal of marijuana from the federal Controlled Substances Act altogether).