Rohrabacher-Leahy Amendment restricts DOJ interference, opens door to broader medical cannabis policy reforms
TORONTO, March 23, 2018 /CNW/ - Liberty Health Sciences Inc. (CSE: LHS or US OTCBB: LHSIF) (the "Company" or "Liberty") applauds today's passage of the 2018 omnibus appropriations package, which includes the Rohrabacher-Leahy Amendment ("Rohrabacher-Leahy") restricting the Department of Justice ("DOJ") from interfering with the rights of patients and medical cannabis companies such as Liberty operating in compliance with State laws. As a result, the DOJ will not be able to pursue enforcement actions against legal medical cannabis cultivators, distributors and licensees operating in compliance with State laws, thereby protecting Liberty's business, operations and patients.
"I am pleased that the United States Congress and the White House have taken this important step forward towards protecting the rights of patients and the rights of medical cannabis companies operating in compliance with state laws." said George Scorsis, Director and CEO of Liberty. "This marks a significant milestone for medical cannabis in the U.S. and signals a positive shift in Washington that could bring about broader medical cannabis policy reforms in the areas of banking and taxes. The adoption rate of medical cannabis by Americans continues to grow and Liberty will continue to advocate for the rights of our patients, and the rights of Americans who do not yet have access to medical cannabis, as we confidently move forward with our U.S. expansion plans."
The support for Rohrabacher-Leahy from Congress and the White House marks a significant reversal in Federal policy since the January 4, 2018, memorandum issued by Attorney General Jeff Sessions. That memo rescinded the Obama-era Cole Memorandum that afforded state-licensed cannabis businesses protection from prosecution. With those protections effectively restored, Liberty will continue to pursue its aggressive growth strategy, which focuses on those states where a robust legal regime exists for medical cannabis.
"Liberty remains committed to providing our patients with reliable, affordable medical-grade cannabis to help manage their conditions and improve their quality of life," continued Scorsis. "We also continue to actively provide assistance to federal officials on the ongoing U.S. policy making initiatives related to medical cannabis in the U.S. We are dedicated to ensuring that the interests of our shareholders and patients are protected."
For more information on Liberty please visit www.libertyhealthsciences.com
About Liberty Health Sciences Inc.
Liberty Health Sciences Inc. ("Liberty") is an investor and operator in the medical cannabis market, capitalizing on new and existing opportunities in U.S. states where medical cannabis is legal. Liberty's stringent investment criteria for expansion maximizes returns to shareholders, while focusing on significant near- and mid-term opportunities. Liberty has an extensive background in highly regulated industries, with expertise in becoming a low-cost producer. Liberty leverages commercial greenhouse knowledge to deliver high-quality, clean and safe pharmaceutical grade cannabis to patients.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking statements within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "believe", "plan", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, expectations related to the DOJ's ability to enforce actions against legal medical cannabis businesses operating in compliance with State laws, broader medical cannabis reforms in the United States, and the Company's future expansion and growth strategies. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in the United States generally, income tax and regulatory matters; the ability of Liberty to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Liberty Health Sciences Inc.
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