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UPDATE - South American Gold Corp Sees Increased Opportunity as Uruguay Begins Legal Cannabis Production
UPDATE - South American Gold Corp Sees Increased Opportunity as Uruguay Begins Legal Cannabis Production.
About this update from South American Gold Corp
[{"type":"text","content":"\n \n \n UPDATE - South American Gold Corp Sees Increased Opportunity as Uruguay Begins Legal Cannabis Production\n \n \nUPDATE - South American Gold Corp Sees Increased Opportunity as Uruguay Begins Legal Cannabis Production\n \n LAS VEGAS, NV--(Marketwired - May 12, 2016) -  South American Gold Corp. (OTC PINK: SAGD) Cannabis production at the first two government authorized facilities started in Uruguay. Sales of cannabis products through authorized pharmacies is expected to begin as early as June of 2016. Each licensee is authorized to produce up to two tons of finished product per year.\n \"After working through some growing pains, we are quite pleased to see that authorized production is underway in Uruguay,\" said SAGD's CEO Marianne Rasmussen. \"The full legalization and regulation of the cannabis production and distribution in Uruguay is an important step down the path toward a more normalized market in all of South America and we feel that a successful implementation in Uruguay is an important first step towards further liberalization in some of the more populated markets in the southern cone.\" \n In addition to the two licenses granted by the Uruguayan government for cannabis production and distribution for recreational use, Uruguay has yet to open up for bidding licenses to produce for the therapeutic or medicinal market in Uruguay.\n \"The medicinal market in Uruguay is incredibly important,\" continued Rasmussen. \"While a complete cessation of prohibition may take years to accomplish in some of the more hard-line administrations in the region, the acceptance of cannabis for medicinal purposes is gaining ground and will likely be the first significant source of growth for legitimate producers in the region.\"\n About South American Gold Corp.\n South American Gold Corp. is focused on becoming the premiere provider of value added products and services for the cultivation and processing of cannabis for the South American medical and recreational markets with an initial focus on the Uruguayan market. \n Disclaimer \n This release contains forward-looking statements that are based on beliefs of South American Gold Corp. management and reflect South American Gold Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the...