USPS - Re-Classification of Marijuana Sends Shares of Cannabis Operator on a Tear

2024-05-02 13:04:27 ET

Yesterday’s news that the Biden administration will soon reclassify %Marijuana is sending shares of companies that deal with %Cannabis higher.

The cannabis industry has witnessed significant growth globally, with various countries legalizing or decriminalizing cannabis. Sannabis, Inc. f/k/a %UltimateSports (OTC: ) has fully licensed cannabis operations in Colombia. The firm announced its first shipment this week of pure Cannabis Essential Oil to the U.S. with the required documentation to ship through global carriers.

Sannabis’s operations in Colombia provide distinct advantages over their U.S. counterparts due to low-cost production, established regulatory framework and export potential.

Sannabis’s essential oil will be used to make products to fill an order for thousands of their terpene spray, which is designed to elevate the cannabis experience by harnessing the power of cannabis terpenes by working in synergy with THC and CBD. Samples of pure essential oil are also being sent to U.S. food and beverage companies interested in adding cannabis terpene aroma, flavoring, and therapeutic benefits to their existing global brands. This allows firms to comply with federal marijuana laws by using terpenes derived from Colombian-grown cannabis.