United Cannabis Corp (OTCMKTS:CNAB) reported that its JV, which is 50% owned with CRD, has filed application for a license to grow, process, transport and perform research on marijuana within Jamaica. Considering this objective, the company has been working with its associates in Jamaica to assemble and offer all the documentation and data needed by the Cannabis Licensing Authority. This application was filed on November 3, 2016 and has been approved; the review process is anticipated to begin soon.
The management speaks
Earnest Blackmon, the CEO of United Cannabis, said that it is a considerable achievement for Jamaican team. This application process is a cumbersome responsibility irrespective of the domain. Luckily, they have a robust business model, extensive experience with the procedure and a solid association with CRD. They are delighted that their application was accepted and anticipate it to passed in the coming period.
Marcus “Bubbleman” Richardson, the Director of CRD, said that while their focus has been on application primarily, they have been fine-tuning their business strategies and securing the associations required to implement that plan. They are on track and eager to get to work
United Cannabis association with CRD was established after the nod by Jamaica’s Cabinet and Parliament of a modification to the Dangerous Drugs Act, offering for the decriminalization of the grow, production, possession and utilization of cannabis for therapeutic, scientific and medical purposes within the nation.
Cannabinoid R&D Company Limited was established by a small group of cannabis advocates in Jamaica, with the cooperation of the firm, who perceived that it was high time for freeing up the weed. Their demands were further supported by the government approving legislation to establish industrial hemp and medical marijuana industries in Jamaica. The unit salutes the farmers and their sacrifices, as they have paid the price of incarceration, harassment and the parting from loved ones. CRD management added that it is the spirit, hope, aspirations and dreams of these people that is found in the dream and reason for CRD today.