--The below is a company-sponsored announcement--
The most recent development came from the
Landmark United Nations cannabis reclassification
The Commission voted to remove cannabis from Schedule IV of the 1961 drug convention treaty, in which it was considered among the most dangerous and addictive drugs.
In a landmark decision and significant acknowledgment of cannabis' medical benefits, the substance will now be seen under Schedule I, the least restrictive drug classification.
With its shares up 150% on a week to week basis, investors have clearly recognised the potential upsides for
Not only will CPH be able to grow their global distribution network and footprint, but the decision also has the capacity to unlock and a number of near-term and medium-term opportunities for Creso at a time when the company is well funded and strategically positioned.
The decision was made on
"The result of this vote follows 60 years of status quo, three years of scientific review by the world's leading health organisations, two years of diplomatic discussions and considerable lobbying from NGOs.
"I am proud and privileged to have been a part of a small group of dedicated activists that have fought for decades to reschedule cannabis.
"I am very confident that this decision will unlock a number of near term opportunities for
European CBD regulation changes indicate growth for Creso
Watchel also contributed to driving the change in the classification of cannabis as part of the
On
It was also ruled that CBD is not considered a narcotic, and accordingly, CBD can be freely sold in the
Further, this decision is anticipated to wide impact on the global cannabis industry, providing further justification for regulatory bodies to adopt a similar stance at a time when there is already growing recognition of the benefits offered by medical cannabis.
Australian market changes imminent
To top of a week of regulatory milestones,
The final ruling will follow the interim decision, made on
This would allow Australian consumers to purchase CBD products over-the-counter (OTC) through pharmacies without the requirement of a prescription.
Earlier today the corporate announcement above was publicly released. FNArena is acting as a partner in distribution to broaden the reach. No journalists have been involved in the re-publication of this announcement.
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