Neutra Looking Into Medical and Recreational Cannabis Market as Legislative Outlook Improves
KATY, TX / ACCESSWIRE / February 26, 2021 / Neutra Corp. (OTC PINK:NTRR) ("Neutra" or "the Company") is considering a move into the medical and recreational cannabis arena as states relax their prohibitions against the substance. Neutra notes that New Jersey Gov. Phil Murphy this week signed a bill that legalizes recreational cannabis use for adults, completing a three-year legislative journey. Fifteen states have now fully legalized cannabis use, opening a large potential market for CBD companies like Neutra and its subsidiary VIVIS.
"This is a natural, logical step for our company as we continue to grow," said Neutra CEO Sydney Jim . "Just eight states of 50 now don't allow for any use, even medicinal, so attitudes towards cannabis have dramatically changed. There's tremendous market potential, and more people will want to try cannabis-based CBD products once legal barriers and penalties have been removed. It's definitely worth exploring."
All of Neutra 's executive management team and most of its operational staff have extensive backgrounds in multiple medicinal cannabis verticals. This experience includes cultivation and production, corporate structure, accounting, distribution, and more.
As of February 2021 , several large, populous states have fully legalized cannabis for both recreational and medicinal use, and decriminalized its possession and sale. These include the aforementioned New Jersey plus California , Washington and Illinois . New York and Ohio permit medicinal marijuana and have decriminalized possession, but do not allow recreational use. Others, such as Texas , Florida and Pennsylvania allow for some sort of medicinal use (such as CBD oils, in Texas ' case), but ban recreational cannabis and have not decriminalized it.
Industry watchers expect New York , Virginia and New Mexico to be among the next states to legalize all cannabis use.
This was on TD Ameritrade trading platform news tab
