WESTERLY, RI and MONTEVIDEO, URUGUAY / ACCESSWIRE / June 28, 2023 / MMJ International Holdings (MMJ) and Global Cannabis Production (GCP) are pleased to announce their partnership to facilitate the first DEA legal import of tetrahydrocannabinol (THC) cannabis products from Uruguay to the United States. This partnership will also provide funding to develop breakthrough treatments of cannabinoid pharmaceuticals to patients.
PROVIDING SOLUTIONS
Duane Boise CEO of MMJ stated "this partnership provides the solution to one of the headwinds affecting every other cannabis company - cannabis is still considered a banned substance at the U.S. Federal level. No matter how many states or countries approve medicinal and/or recreational marijuana, doing business across state and or international borders is impossible with out the DEA registrations that MMJ has obtained."
This is where the MMJ-GCH partnership offers a competitive advantage. Specifically, the company has a schedule 1 registration with the U.S. Drug Enforcement Administration which allows for the import and export of controlled substances. Among other things, the MMJ- GCH partnership allows MMJ to fund its clinical trials, business growth, and operations by obtaining capital from GCH. Duane Boise and David Luftglass are scheduled to speak to these issues at the ORT University cannabis forum in Montevideo, Uruguay on July 11, 2023.
CANNABIS MEETS CRYPTO
Also on July 11, 2023 Global Cannabis Holdings (GCH) is set to launch the GCH Token, a novel crypto investment solution for the cannabis market. GCH Tokens will be issued on STOKR, a leading primary issuance platform for digital securities. STOKR, established in 2018 and supervised by Luxembourg's CSSF (financial services regulator), serves as a Virtual Assets Service Provider (VASP). Its core offering includes providing end-to-end tokenization support for financial instruments from institutional-grade investment vehicles in Luxembourg.
STOKR's advanced infrastructure and expertise have enabled GCH to issue tokenized securities on the Liquid Network, a Bitcoin side chain, offering faster transaction speeds and lower fees compared to the Bitcoin or Ethereum network.
It is important to note that only verified investors can hold and trade GCH tokens. STOKR, as a VASP, offers the necessary verification support to GCH, ensuring that GCH knows the token holders at any given time for added security and compliance. GCH Tokens are not accessible to U.S. persons due to capital market regulations, and the entire process adheres strictly to European Union Capital Market Laws.