MCPI Dispensaries Positioned to Take Advantage of Early Legal Sales to Recreational Cannabis Consumer

BEND, OR / ACCESSWIRE / June 29, 2015 / Med-Cannabis Pharma, Inc. (PINKSHEETS:MCPI) is pleased to announced the Joint Marijuana Committee of the Oregon legislature has unanimously passed an amendment, which would allow Oregon Medical Marijuana Program (OMMP) dispensaries to begin sales of marijuana products to the large consumer base of recreational users over the age of 21. After the Passing of Prop 91 which legalized the possession and consumption of marijuana for citizens over 21 years of age, recreational consumers still faced the problem of having no legal way to purchase marijuana products. This amendment seeks to remedy that problem by utilizing the well-established and thriving OMMP dispensaries that are operating all over the State. MCPI is excited and prepared to serve the increase in consumer base at its established medical dispensaries.

Starting on October 1, 2015, the amendment will allow for existing OMMP dispensaries to sell marijuana products to customers over the age of 21. While the amendment still has to go through legislative approval by the House and Senate, eventually reaching Governor Kate Brown’s desk to be signed into law, all signs point to broad support for passing it into law. By July 1st 2015, it will be legal to possess marijuana, however, recreational dispensaries will not be licensed and operating until the last half of 2016. MCPI’s 2 licensed and operating dispensaries are immediately in position to benefit from this amendment by expanding on its thriving medical consumer base by serving the untapped recreational consumers. Oregon Lawmakers’ intent in supporting this amendment is to prevent black market sales and begin collecting taxes on legal sales as soon as possible.

Essentially this amounts to a win-win situation of legislators and existing OMMP dispensaries. MCPI’s 2 licensed operating dispensaries and its 2 new locations which will begin operating this summer, are exactly what this amendment seeks to utilize as a legal outlet for the sale of recreational marijuana. Recreational consumers will have safe access to legally buy tested, quality marijuana products, and MCPI’s brand recognition and reputation as a high quality producer and seller of marijuana products will continue to grow as medical and recreational consumers become more familiar with MCPI’s dispensaries throughout the state. Competitively, MCPI dispensaries will be at an advantage to grow its customer base now while the licensing and creation of recreational dispensaries begins to take place in late 2016. This will allow MCPI to establish a firm foothold in the evolving Oregon Marijuana market as well as strengthening their reputation and exposure to a new and larger customer base. MCPI expects substantial growth and profit opportunities in the last half of 2015, as all political signs point to the passage of this amendment.

Forward Looking Statements

This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as “anticipate,” “seek,” intend,” “believe,” “estimate,” “expect,” “project,” “plan,” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based drugs. The Company does not undertake any duty nor does it intend to update the results of these forward-looking statements.

For more information please visit us at www.med-cannabispharma.com.

Contact Information

GRACIELA MORENO

President
Med-Cannabis Pharma, Inc.

+1 214 666 8364

SOURCE: Med-Cannabis Pharma, Inc.

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