New Columbia Resources (NEWC) Could Benefit from Colombia’s Legalization
Ryan Allway
May 26th, 2016
News, Top Story
[stockchart symbol=NEWC]
New Columbia Resources Inc. [stockquote symbol=NEWC], a provider of medical marijuana products in Colombia since 2014 through its Sannabis SAS subsidiary, recently announced that the Colombian Congress approved medical marijuana during the final debate over its legalization this week. The new law will regulate all areas of the cannabis industry for both medical and scientific use, but does not approve the drug for recreational use.
“This approval is a testament to the forward thinking of all bipartisan lawmakers of Colombia for the benefit of the people, but especially the fortitude of President Juan Manual Santos and Senator Juan Manuel Galan, sponsor of the law,” said John Campo, President of New Colombia Resources, Inc. in a recent press release announcing the move.
New Colombia Resources’ subsidiary, Sannabis SAS, enjoys a first mover advantage in Colombia’s new medical marijuana industry. Since 2014, the company has been legally producing medical marijuana products on an Indian reservation with thousands of medical marijuana plants already in production and tens of thousands that it intends to plant. The subsidiary has already applied for medical marijuana licenses with the Ministry of Health.
The subsidiary currently provides cannabis oil to the Fundacion Cultivanda Esperanzas, a foundation for children with epilepsy.
Shares of New Colombia Resources were even during early trading on Thursday morning.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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