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Lexaria Bioscience Corp (CSE:LXX; OTC:LXRP) is no stranger to our readers and in an interview on January 3 with Forbes, CEO Chris Bunka could not have said it more plainly in this article that suggests Canadian companies will do well because of this:
There is $0 in the budget to prosecute state-legal cannabis participants, said Chris Bunka, CEO of Lexaria Bioscience in Phoenix, Ariz. and Kelowna, Canada.
“Jeff Sessions’ obsession with prosecuting state-legal enterprise will require that the federal government somehow gets budget approval for funding to arrest and prosecute, which seems unlikely in the current political environment,” said Bunka. “The feds will likely attempt several high-profile media-friendly busts in an effort to frighten and intimidate -- hallmarks of the Trump administration that governs through bullying.”
“Research and development for scientific and medical applications of cannabinoids is raging ahead worldwide,” Bunka added. “Medical cannabis is legal throughout Germany where the federal health care system pays for its use.”
“The Trump administration – supposedly so pro-business – is creating massive barriers preventing U.S. companies from competing on the world stage where they risk falling hopelessly behind…”
CannaRoyalty Corp (CNNRF) issued a release that also clearly explains this event clearly stating that no laws have changed.
The Rolling Stone’s coverage details the hornet’s nest that Sessions has opted to walk into.
Also on January 3rd, the State of Vermont legalized marijuana under strict and limited scope however to do so on the same day as the change in Federal policy speaks volumes.
All of this contributed to the January 3rd MJ market chaos affecting not only the USA but Canada as well in one day is why we coined the term Ecoforming (violent shocks to the industry) and the need to view the industry as a vibrant Ecosystem.