MIAMI, June 28, 2016 /PRNewswire/ --
Company Mining and Gravel Business approaching production and revenue stage.
New Colombia Resources, Inc. (OTC: NEWC), a Colombian company listed in the U.S., is pleased to announce that its medical marijuana joint venture Sannabis SAS has added more wholesale distributors. Sannabis will be increasing minimum orders for distributors to satisfy the growing need for their medical cannabis products. They are also setting up international buyers interested in importing Sannabis products to their home countries. Sannabis has been legally growing medical marijuana and manufacturing products on the Nasa Indian Reservation since 2014 and enjoys first mover advantage in Colombia. Indigenous societies are allowed to grow and process their sacred plants into medicines, including marijuana.
Since the Presidential executive order legalizing the cultivation of medical marijuana throughout the country was signed in December there are a few international companies trying to set up operations in Colombia. Sannabis is proud to be Colombian owned and operated and continues to work with the indigenous communities in creating a sustainable new industry for a post conflict Colombia. Most licenses to cultivate and process medical marijuana aren't expected until 2017 giving Sannabis a jump start on any potential competitors. Although international interest is welcome, many new players want to grow and run, exporting the product and adding value somewhere else. Sannabis is making every effort to create value added medical marijuana products "Made in Colombia" for the domestic and international market. This mission has given Sannabis tremendous support from the Indigenous communities directly affected by the armed conflict as well as local and national politicians. These communities have been growing and using marijuana as a medicine for generations, these value added products are adding many needed jobs to the region.
Sannabis hosted Colombia's first Cannabis forum this past weekend and was very pleased with the turnout; it was a packed auditorium. Sannabis added more distributors and doctors to their team and will be hosting additional forums in other cities around the country. To see pictures of the event, follow Sannabis on Twitter at https://twitter.com/SannabisSAS/status/746740237452328960
New Colombia Resources would also like to update shareholders on the progress of their mining and gravel operations. Earlier this year the company submitted the addition of building materials to their existing approved Work Permit for metallurgical coal. The National Mining Agency (ANM) performed a site visit in May to approve this addition. They returned comments that were addressed by redesigning the work plan to include two pits instead of one. The new mapping and redesign is completed and being submitted to the ANM, shareholders can contact the company for a copy of the redesigned Work Plan. Once the ANM posts an approval resolution on their website, the company will submit it to the local environmental agency (CAR) for the final approval to begin gravel operations. They have been working with the CAR for some time and expect an expedited process of approval. According to this article from a leading financial news publication, Colombia is entering the "Golden Age for Construction Materials" with demand expected to double in the next five years. http://www.portafolio.co/economia/infraestructura/edad-oro-materiales-construccion-155176
New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have several revenue producing businesses including; metallurgical coal mining and rock quarry aggregates for domestic Colombian highway and railroad building projects. The Company owns 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. New Colombia Resources also holds a significant position in Sannabis SAS which legally produces medical marijuana products in the Republic of Colombia, visit http://www.sannabis.co. For more information on the Company visit http://www.newcolombiaresources.com.
Forward Looking Statements
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 works 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 might not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
SOURCE New Colombia Resources, Inc.