Pure Harvest Cannabis Applauds the Passage of Pro Cannabis Bills in Colorado
Repeal Now Allows for Greater Public Company Participation
Santa Monica, California--(Newsfile Corp. - June 3, 2019) - Pure Harvest Cannabis Group, Inc. (OTC PINK: PHCG), a development stage, vertically integrated cannabis company based in Santa Monica, California, is encouraged by the Colorado Legislature's passage of a bill that among other items, removes a previous prohibition of publicly traded corporations holding a marijuana license. The bill's passage allows public companies to fully participate in Colorado based cannabis opportunities.
The wide-ranging bill includes allowing for public company ownership and private equity investment in Colorado cannabis businesses, home delivery of cannabis, consumption venues for public consumption and allowing doctors to prescribe cannabis for opioid addiction and for autism.
"The passage of this sweeping legislation in the most progressive state in the union signals an exciting new phase for Colorado and importantly, Pure Harvest Cannabis Group. Colorado has been at the forefront of legal cannabis innovation since voters approved adult use in 2014 and has developed into a robust market with over $1.5 billion in annual sales," stated David Lamadrid, Chief Executive Officer, Pure Harvest Cannabis Group. "We believe that with this new legislation, Colorado has tremendous potential to become the 'Silicon Valley' of cannabis and with Pure Harvest's planned Colorado operations we intend to play a role in this positive evolution."
"The new legislation was in line with our expectations and further benefits our plans with local businesses in Colorado to develop a product development platform for Pure Harvest Cannabis and CBD based products," added Lamadrid.
About Pure Harvest Cannabis Group
The Pure Harvest Cannabis Group is a development stage science-based medical cannabis company with a commitment to the highest quality products, ethical growing standards, environmental awareness, and corporate integrity. Pure Harvest intends to develop into a large scale vertically integrated producer and distributor in large, established, and growing markets.
Pure Harvest is focused on developing precision dosed cannabinoid health and wellness consumer products. The Company's goals include establishing Pure Harvest Cannabis as an iconic consumer product brand offering a wide variety of cannabis/CBD products that can be sold in multiple international markets that have legalized cannabis and hemp-derived products.
Pure Harvest has recently merged with The Pocket Shot Company and plans to transition into a vertically integrated multi-state operator (MSO) and purveyor of the finest quality cannabis and hemp derived products for active lifestyles, and to support patient health and well-being.
Forward Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Future events and results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
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