Nina Zdinjak , Benzinga Staff Writer October 03, 2019 12:30pm
More than 800 cannabis companies have signed a letter asking Congress to deschedule marijuana, Marijuana Moment reported Thursday.
The letter submitted to House and Senate leadership Thursday said the vaping situation demands strict federal regulations that are only possible once marijuana is removed from the federal schedule of controlled substances.
The National Cannabis Industry Association was the main driver behind the letter, which also emphasizes that most of the medical issues in question were caused by the use of unregulated products.
“Recent reports of vaping-related illnesses and deaths are alarming and demand an immediate, robust investigation by public health professionals. Make no mistake, the legal state-regulated cannabis industry knows that any death is one death too many. Fortunately, we have policy tools that can be employed to help limit the illicit market, implement uniform good manufacturing practices and prevent future harms, “ the letter said.
Among those 800 and more signatures are some big names in the industry, such as Leafly, Canopy Rivers Inc, 4Front Ventures Corp, Weedmaps, Berkeley Patients Group and SPARC.
"Descheduling cannabis would end many of the federal policies that make it di?cult for legal cannabis businesses to e?ectively compete with illicit operators. Eliminating the undue burdens caused by outdated laws would help ensure that unethical actors are increasingly disrupted by legitimate, responsible businesses,” the companies said.
Aaron Smith, NCIA’s executive director, told Marijuana Moment that “it is absolutely vital for members of Congress to understand that this vaping illness outbreak is directly tied to failed prohibition policies that support the unregulated underground market.”
No illness outbreaks occur due to tainted alcohol because the substance is regulated at the federal and state levels, and licensed producers have almost entirely replaced bootleggers, he said.
“Descheduling cannabis products and regulating them effectively is essential to improving on successful state regulatory systems, allowing more comprehensive research and displacing the illicit market.”
The letter also outlined several policy recommendations to help consumers stay away from dangerous products, such as advising that licensed vape cartridge producers avoid additive thickening agents, and that those who have been using Vitamin E acetate additive should issue a recall of the products.
Ottawa, Canada – October 3, 2019 – CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) (“Origin House” or the “Company”), a North American cannabis products and brands company today announced that the Company’s distribution arm, Continuum, has entered into an agreement (the “Agreement”) to become the exclusive distributor of Cannabiniers™, producer of Two Roots™, Creative Waters™, and Baskin™ cannabis-infused products in California.
“Our California distribution platform continues to strengthen as we prepare for the closing of the acquisition of the Company by Cresco Labs Inc. (“Cresco Labs”), upon receipt of regulatory approvals” said Marc Lustig, Chairman and CEO of Origin House. “We believe infused beverages will be one of the key product categories of the future and are proud to partner with Cannabiniers – a well-known brewer and growing infused beverage brand. We continue to see signs that the California market is gaining momentum as focused efforts to put pressure on illegal players continue to shift dollars to the legal market.”
Michael Hayford, CEO of Lighthouse Strategies, parent company to Cannabiniers, added, “Cannabiniers and its portfolio of smoke-free, healthier cannabis products is committed to quality and focused on providing consumers with a discreet, authentic beverage experience. In our search for a distribution partner in the California market, Continuum emerged as the clear choice. Not only does the Company have a statewide distribution and support platform as well as relationships with a majority of legal dispensaries in the state, but the team on the ground in California truly understands how successful brands are built. We look forward to getting started and expect this to be a value-driving partnership for both of our organizations.”
The initial term of the Agreement is one year.
Cannabiniers is a developer of global cannabis brands that revolutionize the industry with first to market, patented, safe, fast-acting infusion technology. The company believes the future of cannabis consumption is dependent upon products that normalize personal and social usage without changing lifestyle patterns and behavioral norms. Two Roots is the world’s first non-alcoholic, cannabis-infused craft beer, available in three core styles, including: Lager, IPA, and Wheat, and seasonal brews, including its high-octane, cannabis flavored Straight Drank, which was developed in collaboration with Jetty Extracts. Creative Waters is its newest line of fast-acting, micro-dosed sparkling waters consisting of three CBD-infused flavors, as well as three additional flavors infused with a combined ratio of both CBD and THC, and Baskin is its line of cannabis-infused personal care products.
Management Team Update
Afzal Hasan, President and General Counsel, will be leaving the Company effective immediately. His departure was mutually planned to coincide with the Company’s current phase of development and in anticipation of the close of the acquisition of the Company by Cresco Labs.
A replacement President will not be sought. The Company has promoted its Associate General Counsels, Adrian Lambie for the US, and Pearl Chan for Canada, to the roles of General Counsel (US) and General Counsel (Canada), respectively. Mr. Hasan will continue to advise the Company in a consulting role.
Regarding the departure of Mr. Hasan, Mr. Lustig commented, “Afzal played a pivotal role in the Company’s strategy and execution since being appointed President in early 2018. I sincerely thank him for his hard work and commitment to our company and we look forward to his continued contribution as a consultant to Origin House and to Cresco Labs following the anticipated closing of the acquisition.”
About Origin House
Origin House is a growing cannabis brands and distribution company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. Origin House’s brand development platform is operated out of six licensed facilities located across California, and provides distribution, manufacturing, cultivation and marketing services for its brand partners. Origin House is actively developing infrastructure to support the proliferation of its brands internationally, initially through its acquisition of Canadian retailer 180 Smoke. Origin House’s shares trade on the CSE under the symbol “OH” and on the OTCQX under the symbol “ORHOF”. Origin House is the registered business name of CannaRoyalty Corp. For more information, visit www.originhouse.com.
For further inquiries, please contact:
Media Priyam Chakraborty Senior Communications Manager, Origin House pchakraborty@originhouse.com 647-232-9287
Investors Jonathan Ross LodeRock Advisors Inc., Origin House Investor Relations 416-283-0178 jon.ross@loderockadvisors.com
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