Just so everyone is aware :...... Kannaway® is pleased to announce that the DEA Federal Registry amendment to create a new code for 'marijuana extracts,' in no way affects the Company’s hemp oil, containing naturally occurring cannabinoids, including CBD, or its operations.
In the past, the Ninth Circuit Court of Appeals has conclusively held that hemp products, such as those marketed by the Company, which are derived from the part of the Cannabis plant which is exempt from the Controlled Substances Act, is legal for import from Europe.
In the Ninth Circuit case that served to uphold the legality of the Company's products, the Court struck rules that had been promulgated by the DEA that would have made the Company's products a scheduled substance and the Court permanently enjoined the DEA from enforcing the stricken rules.
There has been no superseding ruling since the Ninth Circuit's decision. Therefore, the Company's products continue to be legal and are not controlled substances. Accordingly, the legality of Medical Marijuana, Inc.’s products remains unchanged in light of this new Federal Registry.
Further, our Company considers the development a major market opportunity, as we have analyzed and followed the chain of custody of our products from inception to ensure that they are derived from the exempt part of the Cannabis plant and are therefore not controlled substances.