COLORADO SPRINGS, Colo., Feb. 4, 2014 /PRNewswire/ -- Endocan Corporation (OTC: ENDO), a U.S. Company specializing in cannabis, hemp, and cannabinoid formulation-based health and wellness solutions, is pleased that the U.S. Congress and President Obama appear on the verge of approving the first key law to legalize hemp cultivation and advanced research on a federal level, creating substantial economic opportunities going forward.
As announced on January 29, 2014, the U.S. House of Representatives approved the "farm bill" that contains a provision for certain cultivation of industrial hemp for research in a number of U.S. states. Passage of the farm bill is the beginning step towards legalization of commercial hemp grows in the U.S. The Senate is expected to approve the measure as soon as today, and President Obama has declared that he will sign the bill into law, changing the legal landscape for the entire hemp industry.
"Hemp has a variety of uses: from skin care products and cosmetics to clothing and food. The passing of the pending farm bill by the House -- and the bill's strong likelihood of becoming law in the next days -- takes our state-by-state hemp product strategy to the federal level sooner than expected. This looks to be a game changer for our industry and for Endocan," said Chad S. Johnson, Chief Operating Officer and General Counsel of Endocan Corporation.
About Endocan Corporation
Endocan Corporation is currently developing new natural 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," "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