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VANCOUVER, Jan. 22, 2019 /CNW/ – Agrios Global Holdings Ltd. (CSE: AGRO) (FSE:OSA – WKN-A2N62K) (“Agrios” or the “Company”) is pleased to announce it will be establishing a subsidiary business unit in the State of Missouri to provide consulting services related to the regulatory changes that come into affect with the state’s recent approval of medical cannabis. The Company’s initial focus is preparing license applications for qualified clients who wish to enter the emerging medical cannabis business in Missouri.
Agrios Global Holdings has been assessing the opportunity for expansion into Missouri pending the outcome of a proposed constitutional amendment, the Medical Marijuana and Veteran Healthcare Services Initiative, which was approved on November 6, 2018. The measure has legalized marijuana use for medical purposes under state law, but does not change federal law, which still makes marijuana possession, sale and cultivation a federal offense.
The amendment creates regulations and licensing procedures for medical marijuana and medical marijuana facilities (dispensary, cultivation, testing and marijuana-infused product manufacturing facilities) as well as licensing fees for such facilities. Funds generated from a state imposed 4% retail sales tax on the sale of medical cannabis by dispensary facilities will be spent on healthcare services for veterans and to administer the program to license/certify and regulate marijuana and marijuana facilities.
Agrios Global Holdings’ Director, Larry Ellison, a long-time advocate of the recent changes to the Missouri marijuana legislation, commented, “Potential cultivation, manufacturing and dispensary license applicants will require the guidance of someone with a clear understanding of the regulatory environment under which marijuana can be cultivated in Missouri. Agrios will offer services to assist clients with license applications and can offer those who obtain licenses further advisory and consulting services in areas such as dispensary operations, agriculture technology and agronomy services for improving crop quality.”
Chris Kennedy President and CEO of Agrios stated, “Larry is a member of the Missouri Cannabis Trade Association and serves on the Executive Board as well as the Business and Legislative Affairs Committees. His clear understanding of the recent amendments to laws regulating medical marijuana cultivation and sales, and insight into the state’s marijuana business performance will be invaluable in establishing the Company’s subsidiary in Missouri.”