Business
Medical Cannabis is Now Legal in Utah, One Company Is Poised for Breakout
Medical Cannabis is Now Legal in Utah, One Company Is Poised for Breakout.
About this update from American Premium Water Corporation
[{"type":"text","content":"\nUndervalued CBD/Cannabis Play Is November’s Stock to Watch After UTAH’s Recent Legalization Approval\n NEW YORK, Nov. 12, 2018 (GLOBE NEWSWIRE) -- News Commentary: www.PSInvestor.com Last week’s vote in the state of UTAH was monumental for many reasons. Medical cannabis, on the ballot as “Proposition 2”, was a proposal that had been a difficult sell to Mormon church leaders who were concerned about the possibility that it could expand to broader use but passed getting 54% of the Utahn population to vote YES. Besides the struggle to win over the Mormon Church, and a population viewed as being quite conservative, Utah residents collected about 200,000 signatures by mid-April, which was well over the 113,143 required for ballot inclusion. Enthusiastic residents are excited about the medicinal properties that marijuana and CBD, short for cannabidiol, brings while state economists welcome the measure which will include a sales tax increase expected to generate $90 million in tax revenue that will combine with an additional $800 million in federal money to fund the expansion. Hemp based CBD, whose market nationally could reach $22B by the year 2022 according to the Brightfield Group in a recent Rolling Stone magazine report, was made legal in Utah in 2014, after businesses began extracting it from cannabis plants and using the extract to make pills, oils and other products that people say helps with an array of conditions. The approval may create a barrier for entrepreneurs and new businesses that wish to establish new CBD related business in UTAH as there has been discussion of going to a county dispensary type system. Grandfathered or established businesses such as Enviro Technologies International Inc. (OTC: ETII), a holdings company based in Utah, already has 2 CBD related businesses in CBD Health Co. (www.cbdhealthco.com) and Phytolife Fitness. Both companies were acquired earlier this year. CBD Health Co. markets and sells high quality and proprietary hemp-based, natural CBD health products, while their sister fitness site and media company will market fitness hemp-based products and health films. Hemp products are now used in sports medicine to control pain, decrease inflammation and reduce stress; hemp-based products have also been found to aid in bone, nerve and tissue regeneration, which are p...