Las Vegas, NV, Nov. 22, 2022 (GLOBE NEWSWIRE) — via NewMediaWireHemp, Inc. (OTC PINK: HEMP): It’s a new dawn, a new day as the first bill solely related to marijuana is sent to POTUS after being approved by the U.S. House and Senate – an unfathomable feat a decade ago. Passed by unanimous consent, by the Senate, the marijuana-related bill signals times are changing and so are perceptions about marijuana.

Too many lives have been upended because of our failed approach to marijuana.  It’s time that we right these wrongs. – President Joe Biden
(Source: White House Briefing Room)

After years of championing legislation to legalize marijuana for medical purposes, the H.R. 8454 – Medical Marijuana and Cannabidiol (CBD) Research Expansion Act marks a “historic breakthrough in addressing the federal government’s failed and misguided prohibition of cannabis.”

In a statement released by U.S. Congressman Earl Blumenauer (Founder and Co-chair of the Congressional Cannabis Caucus and Sponsor of the Medical Marijuana and Cannabidiol (CBD)  Research Act), “The public is tired of waiting for the federal government to catch up. Nearly half of our nation’s population now live in states where adult-use of cannabis is legal. For far too long, Congress has stood in the way of science and progress, creating barriers for researchers attempting to study cannabis and its benefits. At a time when more than 155 million Americans reside where adult-use of cannabis is legal at the state or local level and there are four million registered medical marijuana users with many more likely to self-medicate, it is essential that we are able to fully study the impacts of cannabis use.” (Source)
Per Congress.gov, the Medical Marijuana and Cannabidiol (CBD) Research Expansion Act will:
Establish a new, separate registration process to facilitate research on marijuana.
Specifically, the bill directs the Drug Enforcement Administration (DEA) to follow specified procedures to register (1) practitioners to conduct marijuana research, and (2) manufacturers to supply marijuana for the research.
The bill allows certain registered entities (including institutions of higher education, practitioners, and manufacturers) to manufacture, distribute, dispense, or possess marijuana or cannabidiol (CBD) for the purposes of medical research. Additionally, the bill directs the DEA to register manufacturers and distributors of CBD or marijuana for the purpose of commercial production of an approved drug that contains marijuana or its derivative.

Finally, the bill includes various other provisions, including provisions that:
·       require the DEA to assess whether there is an adequate and uninterrupted supply of marijuana for research purposes;
·       prohibit the Department of Health and Human Services (HHS) from reinstating the interdisciplinary review process for marijuana research;
·       allow physicians to discuss the potential harms and benefits of marijuana and its derivatives (including CBD) with patients; and
·       require HHS, in coordination with the National Institutes of Health and relevant federal agencies, to report on the therapeutic potential of marijuana for various conditions such as epilepsy, as well as the impact on adolescent brains and on the ability to operate a motor vehicle. (Source: Congress.gov)

In a nutshell, the Medical Marijuana and Cannabidiol (CBD) Research Expansion Act will allow a more streamlined approach to the application process for marijuana studies and will remove the barriers that slowed down the process. Research on CBD and other potentially beneficial marijuana-derived substances will be based on sound science without any regulatory hindrance. Yes, there is evidence suggesting marijuana is beneficial in treating glaucoma and epilepsy.  But as Congressmen Andy Harris said, “Only scientific research will prove the veracity of the many claims regarding efficacy for other diseases. Despite lacking much scientific research, over three dozen states have already legalized medical marijuana, and the American public deserves to know the effect modern marijuana has on the human body.”

When the bill officially reaches President Joe Biden’s desk, he will have 10 days (excluding Sundays) to sign or veto it.  A White House spokesperson confirmed President Biden intends on signing the legislation. Once it’s signed and enacted, the cannabis industry could see a flurry of marijuana-related bills.  MJ Biz Daily reported there are “roughly 50 marijuana-related bills circulating in Congress” with the SAFE Banking Act (a proposed law that will allow state-legal dispensaries to access banking services) expected to have the best chance of passage.  Congressman Blumenauer believes the upcoming enactment of the Medical Marijuana and Cannabidiol (CBD) Research Expansion Act could provide the momentum needed to push it through Congress.

Why is the Medical Marijuana and Cannabidiol (CBD) Research Expansion Act significant? After numerous failed attempts from past bills, what propelled this one to the President’s desk for signature? It’s the first legislation to unite opponents and proponents of cannabis legalization. Both sides want extensive research done, albeit for different reasons nonetheless. (Source)

According to an article in Cardinal News, opponents want evidence that marijuana is harmful and proponents want evidence that it’s useful for medical applications. A myriad of questions needs answers. Do we need a surgeon general’s warning? How can marijuana-derived medications treat various health conditions? These are just a couple of questions researchers have not been able to answer because marijuana is a Schedule 1 controlled substance with bureaucratic hurdles and security measures deterring “would-be researchers” from finding the answers.

This won’t be the case much longer. A new dawn, a new day is here for federal cannabis reform. And as Bruce Perlowin (Hemp, Inc.’s Chief Visionary Consultant) said back in 2015, “you can’t hold back the tide”. Once the Medical Marijuana and Cannabidiol (CBD) Research Expansion Act is signed into law by Biden, the door will be open for new, innovative treatments derived from cannabis that will, hopefully, give patients more treatment options, according to Senate Majority Leader Chuck Schumer.

Until then, check out Hemp, Inc.’s product lines containing CBD, CBDA, CBG, CBGA, and CBN (non-psychoactive compounds found in cannabis plants). CBD, in particular, is known for pain relief, relaxation, and anxiety relief. Adding CBG to CBD is known to enhance pain relief and CBN is known for helping sleeplessness. When CBN is combined with CBD and CBG, the benefits include relaxation, and reduced anxiety and pain thereby aiding in a better night’s sleep. Hemp, Inc.’s product lines have received rave reviews due to the high potency and effective, real therapeutic dose. The company uses a pharmaceutical-grade beta-cyclodextrin (a carbohydrate used during the manufacturing process) which is combined with CBD and CBG for rapid absorption and uptake. To order these amazing products, click here.

About Hemp, Inc.With more than 10 years of experience in growing and processing hemp in North America, Hemp, Inc. has an established network of industry professionals in every segment of the industrial hemp industry. Hemp, Inc.’s 85,000 square-foot facility on over 9 acres in Spring Hope, N.C. is one of the largest industrial multipurpose hemp processing facilities in North America. Its mission of providing green solutions that help make the world a better place continues to flourish as the company advances an ever-growing portfolio of revenue and value-generating synergistic businesses. Hemp may be the salvation in retooling America for greener, more sustainable domestic manufacturing.

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The Company will continue to keep its shareholders up to date on all pertinent material events, product releases, production plans, and inventory availability. Those interested in distributing on a large-scale basis should email sales@hempinc.com or call 877-436-7564 for more information. The entire product line includes tinctures, gummies, capsules, and edibles in a variety of sizes, potencies, flavors, and formulas with a future focus on healthy foods for healthy living.

Forward-Looking Statements

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information”. Financials for Hemp, Inc. are listed on the OTC Exchange. More information can also be found on the Hemp, Inc. website by visiting www.hempinc.com/hemp-financial-disclosures/. The material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements involve risks and uncertainties.
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