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American Cannabis Partners Has Vested Interest in Cannabis Act Just Passed by U.S. House
August 10, 2022

American Cannabis Partners Has Vested Interest in Cannabis Act Just Passed by U.S. House

  • MORE Act passed by House, now moves to Senate for consideration
  • Bill would “reverse decades of injustices waged on Americans, and especially those from communities of color,” says House Judiciary chair
  • American Cannabis Partners operates in two states, Michigan and California, where cannabis has been legalized

The government is making moves once again to remove cannabis from the list of banned controlled substances, with the U.S. House of Representatives passage of the Marijuana Opportunity Reinvestment and Expungement (“MORE”) Act (https://ibn.fm/SK1DX). The bill now moves to the Senate, and cannabis companies such as American Cannabis Partners (“ACP”) will be watching closely to see what happens next.

The U.S. House of Representatives has passed the MORE Act before, a “Forbes” article reported, a bill that would end the federal prohibition on cannabis by removing it from the list of banned controlled substances. The article noted that the MORE Act was introduced by House Judiciary Chairman Jerrold Nadler, a Democrat from New York, and passed the House with 220 “yea” votes to 204 “nay” votes.

“Cannabis is legal for adult use in 19 states and for medical use in 36 states,” the article reports. “This bill would end the federal ban but leave legalization up to the states. The legal industry generated $25 billion in sales last year, a 43% increase over 2020, and is expected to hit $65 billion in 2030.

“During his opening statement, Nadler said that the bill, if made into law, would reverse decades of injustices waged on Americans, and especially those from communities of color,” the article continued. “‘Whatever one’s views are on the use of marijuana for recreational or medicinal use, the policy of arrest, prosecution and incarceration at the federal level has proven both unwise and unjust,’ Nadler said. ‘For far too long, we have treated marijuana as a criminal justice problem, instead of as a matter of personal choice and public health.’”

During debate on the bill, Troy Carter, a Democrat from Louisiana, stated that 91% of Americans want some form of cannabis to be legal and that there are more important priorities cops should be focused on. Carter noted that “law enforcement cannot afford to chase small pot offenders when violent crime is on the rise nationwide. . . . The war on marijuana is a costly relic of the past.”

American Cannabis Partners, along with other companies operating in the cannabis space, clearly has a vested interest in the outcome of this legislation. ACP operates in two states, Michigan and California, where cannabis has been legalized. In addition, the company is in the process of exploring land acquisition and project development strategies for expanding operations to additional states.

ACP is focused on three business segments: real estate, acquisition and development of proprietary assets, and ongoing cultivation operations. Led by a seasoned management team with more than three decades of canna-business experience, ACP is guided by its strategy to capture opportunities in real estate and licensing in states that have recently passed cannabis legalization legislation, thereby equipping the company to capitalize on possible future federal interstate commerce opportunities.

For more information, visit the company’s website at www.ACPFarms.com.

NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://ibn.fm/ACP

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