$MEDH focused on the emerging hemp and cannabis industry, today issues a corporate update and outlook against the backdrop of the January 2021 legislative session in Texas.
Currently, 15 states and Washington D.C. permit marijuana for adult recreational use, while 36 states allow it for medical purposes. Ahead of the January 2021 legislative session, Texas lawmakers have pre-filed several bills that would expand the state’s medicinal cannabis program and add it to the list of states legalizing adult-use.
MEDH, now headquartered in Austin, Texas, continues to prepare for these impending legislative changes, finalizing agreements and advancing relationships that will support its growth-by-acquisition strategy and vertical integration.
Anticipating that full legalization is inevitable, the Company’s franchise development team is preparing an aggressive growth campaign to re-introduce cannabis to an expanded marketplace. Management projects that the convergence of coffee and cannabis products will be an effective way to reach consumers previously hesitant to cannabis consumption.
Additionally, the Company’s farming assets will begin planting and farming hemp this spring with first harvest expected in the second quarter of 2021.
“We hope to complete our plans to merge and acquire internal and external brands and entities in Q2 and throughout the remainder of 2021,” stated MEDH CEO Hans Enriquez. “We look forward to a favorable outcome of the legislative session and expect expansion to the hemp and medical program in Texas. We are excited to execute our operational strategies in 2021 and prepare for the next phase of growth.”
