Proactive Investors - Run By Investors For Investors

Crop Infrastructure thanks 3 US states for legalizing marijuana

Michigan became the 10th state to approve recreational use of marijuana while Missouri and Utah voted in favor allowing its medical use
A marijuana plant
Crop says Tuesday's votes increase the likelihood that pot will be legalized at the federal level

Cannabis supplier Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) thanked Utah, Michigan and Missouri on Thursday for voting to legalize marijuana in the midterm US elections.

Michigan became the 10th state to approve recreational use of marijuana while Missouri and Utah voted in favor allowing its medical use. North Dakota rejected allowing recreational pot, and marijuana remains illegal at the federal level.

"With more and more states legalizing medical and recreational cannabis, Crop is positioned to substantially expand operations and work with new local partners that require funding and operational expertise,” CEO Michael Yorke said in a statement.

READ: Crop Infrastructure tenant in Nevada completes harvest of cannabidiol hemp

Yorke added that Tuesday’s ballot initiatives increase the likelihood of cannabis becoming legal in the United States. Challenges on the federal level remain, however.

Last June, a vote by the Senate Appropriations Committee blocked legislation that would have allowed U.S. banks to work with cannabis companies.

“Momentum is gaining for change in Congress to allow states to determine their own marijuana policies,” Morgan Fox, media relations director at the National Cannabis Industry Association, said in a statement. “Two-thirds of the country want marijuana to be legal, and politicians are ignoring that at their peril.”

Shares of Crop slipped $0.01 to $0.38 in Thursday’s trading on the Canadian Securities Exchange.

 

Contact Dennis Fitzgerald at [email protected]

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full CROP profile View Profile

Crop Infrastructure Corp. Timeline

Related Articles

A visual representation of a drug candidate working in a dog
January 28 2019
The company has reaffirmed its upcoming milestones as it confirmed December quarter achievements.
A WeedMD greenhouse
January 21 2019
WeedMD produces cannabis and cannabis oil for both the medical and adult-use markets
1541165310_canadian-flag-1.jpg
November 02 2018
Back Home Medical Cannabis Corp has agreed on a 24,000-kilogram three-year production and supply agreement
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use