SUNNY ISLES BEACH, Florida, May 26, 2016 /PRNewswire/ --
New Colombia Resources, Inc. (OTC: NEWC), a U.S. listed Colombian company with natural resource assets in Colombia, is pleased to announce that yesterday the Colombian Congress approved Medical Marijuana during the final debate over its legalization. The law was approved with 83 votes in favor and 3 against, the House of Representatives approved the law that will regulate the cultivation, production, fabrication, acquisition, importation, exportation, storage, transport, commercialization, distribution, use and possession, of cannabis seeds, its derivatives, and byproducts for medical and scientific use. The law does NOT approve the recreational use of marijuana.
This decision is made at the same time the Ministries of Health and Justice initiated the socialization of Resolution 1816 of 2016 which defines the special conditions to obtain a license for production and fabrication of Medical Marijuana. On December 22, 2015, President Juan Manuel Santos signed an executive order legalizing the medical use of marijuana. This executive decree will be replaced by law once approved by the Constitutional Court. These historic steps taken by the Executive and Legislative branches bypasses the prohibitionist stance with the goal of offering Colombians with chronic and terminal illness a compassionate tool for the management of pain and suffering.
The law is guided with the principals of access, security, quality, and price. All Colombians must have equal access regardless of economic or social circumstances. Security is the guarantee of hygienic processes of fabrication, commercialization, and final use of any Medical Marijuana substance. All products should have quality control standards accepted by the scientific community, and finally the government looks to regulate pricing for medical marijuana pharmaceutical substances, guaranteeing a price that permits all patients with chronic and terminal illness access to this treatment.
"This approval is a testament to the forward thinking of all bipartisan lawmakers of Colombia for the benefit of the people, but especially the fortitude of President Juan Manual Santos and Senator Juan Manuel Galan, sponsor of the law. They are an example to leaders around the World, millions of patients and their doctors will have them to thank for relief. Because of the lives that will be saved due to their convictions, in my opinion, a 100 years from now there won't be enough concrete in Colombia to build statues big enough for these two public servants," commented John Campo, President of New Colombia Resources, Inc.
New Colombia Resources' subsidiary, Sannabis SAS, enjoys first mover advantage in Colombia's new medical marijuana industry, legally producing medical marijuana products on an Indian reservation in Colombia since 2014. Sannabis has thousands of medical marijuana plants in production and tens of thousands they intend to plant. Sannabis has applied for medical marijuana licenses with the Ministries and was invited to the socialization of Resolution 1816 by the Ministry of Health on Tuesday. Sannabis organic medical marijuana products are made with security and quality control standards implemented by the new law. Construction of their new laboratory was completed earlier this year with these standards in place. New Colombia Resources is in contact with several U.S. and European medical marijuana purveyors that will provide expertise in equipment procurement and product and strain development.
Sannabis has redesigned several products that are now posted on their website along with "Stories of Life" testimonials from patients. These can be viewed at http://www.sannabis.co.
Sannabis proudly provides cannabis oil to the Fundacion Cultivanda Esperanzas, a foundation for children with epilepsy. To learn about the Cultivando Esperanzas (Cultivating Hope) Foundation, follow them on Facebook at https://www.facebook.com/fundacioncultivandoesperanza/ . Sannabis donates and offers special pricing to Cultivando Esperanzas so no sick child is left behind, to make a donation to the foundation contact firstname.lastname@example.org.
Additionally, the Company has more bulk sales to announce soon.
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 Colombia, visit http://www.sannabis.co. For more information on the Company visit http://www.newcolombiaresources.com.
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.