TORONTO, April 16, 2018 /CNW/ - Xanthic Biopharma Inc. (CSE: xTHC.) ("Xanthic") commends the recent promise by the U.S. federal government to support Congressional efforts to protect states that have legalized cannabis. In a conversation late Wednesday evening, the President of the United States assured Colorado Senator, Cory Gardner, that the cannabis industry in legalized states will not be targeted by the Department of Justice despite the recent rescission of the Cole Memorandum by Attorney General Jeff Sessions.
Tim Moore, the CEO of Xanthic, commented, "The Xanthic team wishes to applaud the current administration for its recent promises regarding protections of those currently working to expand and innovate within the recreational and medical marijuana industry. This major step forward is a signal to those within and outside the cannabis industry that our work is both valid and respected. We hope that Congress will continue to push forward with additional legislative protections for the industry beyond the state level."
Xanthic, through its wholly-owned operating subsidiary, Xanthic Biopharma Limited, provides valuable intellectual property to cannabis industry participants, enabling its strategic partners to produce high quality, innovative, non-combustible cannabis, and cannabis-infused products which deliver consistent THC and/or CBD levels. Using a proprietary process, Xanthic allows its strategic partners to deliver superior cannabinoid solubility and consistency versus competitive infused products. Xanthic stock is expected to begin trading on the CSE under the ticker symbol xTHC as of April 19, 2018.
Certain statements in this press release are "forward-looking" statements within the meaning of Canadian and United States securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Forward-looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "in the event", "if", "believes", "assets", "position", "intends", "envisages", "assumes", "recommends", "estimates", "approximate", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by Xanthic, are inherently subject to significant litigation, business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause Xanthic's actual results to differ materially from those expressed or implied in the forward looking statements. Although management of Xanthic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Xanthic does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
SOURCE Xanthic BioPharma