COLORADO SPRINGS, Colo., Oct. 1, 2013 /PRNewswire/ -- Endocan Corporation (NASDAQ OTC: XCHC), a U.S. Company specializing primarily in cannabinoid formulation-based health and wellness solutions, is pleased to announce Canada market opens and The Netherlands gets the green light to import product into Canada.
Dr. Dorothy Bray, the President of the Endocan Corporation, stated, "It is impressive that Health Canada had chosen to open the market to inspected and certified medical cannabis. The Canadian government's support to monitor and provide high quality medical cannabis will bring clear benefits to Canadian patients. We look forward to bringing our products and services to the market with such a significant global awareness and new political climate."
The Canadian Press article, as released by the Huffington Post:
OTTAWA - The Conservative government is launching a $1.3-billion free market in medical marijuana this Tuesday, eventually providing an expected 450,000 Canadians with quality weed.
Health Canada is phasing out an older system on Monday that mostly relied on small-scale, homegrown medical marijuana of varying quality, often diverted illegally to the black market.
In its place, large indoor marijuana farms certified by the RCMP and health inspectors will produce, package and distribute a range of standardized weed, all of it sold for whatever price the market will bear. The first sales are expected in the next few weeks, delivered directly by secure courier.
"We're fairly confident that we'll have a healthy commercial industry in time," Sophie Galarneau, a senior official with the department, said in an interview.
"It's a whole other ball game."
The sanctioned birth of large-scale, free-market marijuana production comes as the Conservatives pillory Liberal Leader Justin Trudeau's campaign to legalize recreational marijuana.
Health Canada is placing no limits on the number of these new capital-intensive facilities, which will have mandatory vaults and security systems. Private-dwelling production will be banned. Imports from places such as the Netherlands will be allowed.
Please click the following link to read the complete announcement and view the accompanying video: http://www.huffingtonpost.ca/2013/09/29/canada-medical-marijuana_n_4013334.html?ir=Canada+Business
About Endocan Corporation
Endocan Corporation is currently developing new natural cannabinoid containing products based on innovative formulations to utilize the unique and potent benefits of the cannabis and hemp plants. Medicinal properties of cannabis and hemp have been known and applied for thousands of years. With the aid of scientific research, Endocan Corporation is translating such knowledge into development of effective cannabinoid formulation-based health and wellness solutions as well as cosmeceutical, nutraceutical, and food brands throughout the world. The Company's health and wellness, nutritional, and cosmetics lines will address personal needs and will evolve with the introduction of new formulations and products, advancing the Company within the expanding multibillion-dollar global market.
Forward Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. The Company does not undertake any duty nor does it intend to update the results of these forward-looking statements.
CFO, Sr Vp of Business Development
SOURCE Endocan Corporation