Business
Golden Developing Solutions, Inc. announces its status change with the OTC Markets Group to Pink Current Information
Golden Developing Solutions, Inc. announces its status change with the OTC Markets Group to Pink Current Information.
About this update from Golden Developing Solutions, Inc.
[{"type":"text","content":"\n\n AUSTIN, Texas, March 08, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Golden Developing Solutions, Inc. (Pink:DVLP) (the “Company”) announced today that its stock is now quoted on the OTC Pink Market (current information), because it has made adequate current information publicly available within the meaning of Rule 144(c)(2) under the Securities Act of 1933, as amended. Stavros Triant, the Company’s Chief Executive Officer, commented, “We’re pleased to have our stock quoted on the OTC Pink Market. We believe that the U.S. cannabis industry is poised for significant growth over the next few years and we’re excited to enter a market that has what we see as great potential.”\n About Golden Developing Solutions, Inc.Golden Developing Solutions, Inc. has structured itself as a holding company to provide business services and/or products supporting the cannabis industry and intends to make acquisitions in the near future. Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes. Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society. Marijuana remains classified as a Schedule I controlled substance by the Drug Enforcement Agency (the “DEA”), and the U.S. Department of Justice (the “DOJ”), and therefore it is illegal to grow, possess and consume cannabis under federal law. The CSA bans cannabis-related businesses; the possession, cultivation and production of cannabis-infused products; and the distribution of cannabis and products derived from it. Furthermore, the U.S. Supreme Court has confirmed that the federal government has the right to regulate and criminalize cannabis, including for medical purposes, and that federal law criminalizing the use of cannabis preempts state laws that legalize its use. Under the Obama Administration, the DOJ previously issued memoranda, including the so-called “Cole Memo” on August 29, 2013, providing internal guidance to federal prosecutors concerning enforcement of federal cannabis prohibitions under the CSA. This guidance essentially characterized use of federal l...