Cannabis Bioscience International Holdings Selected to Participate in DEA Hearing on Cannabis Rescheduling Docket No. 1362 and Hearing Docket No. 24-44
HOUSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Cannabis Bioscience International Holdings (OTCMKTS: CBIH) is honored to announce it was selected from a competitive field of numerous companies as one of the few U.S. bioscience cannabis companies invited to participate in the DEA hearings on the rescheduling of marijuana. Represented by CEO, Mr. Dante Picazo, CBIH will present clinical trial data showcasing the therapeutic benefits and potential of Cannabis sativa L., emphasizing the company’s commitment to pioneering innovative treatments. In its presentation, CBIH will provide robust evidence on the safety and efficacy of cannabis compounds in medical science, while highlighting the economic opportunities a rescheduling could unlock for the entire industry.
“This opportunity reaffirms the importance of advancing cannabinoid research and development. The event provides a vital forum where regulatory authorities can engage directly with entrepreneurs, executives, physicians, scientists, patients, and other key industry stakeholders. Such interaction paves the way for a more informed and equitable regulatory framework for the sector,” says Mr. John Jones, Treasurer and Director of CBIH.
From a financial standpoint, Charles Tamburello, Director of CBIH, underscores the importance of these conferences in solidifying the legitimacy of the medical cannabis market, a key factor in boosting investor confidence. According to a report by global market research firm Grand View Research, published in January 2024, the U.S. cannabis market was valued at $33.6 billion in 2023 and is projected to grow at a compound annual rate of 12.1% from 2024 to 2030.
In the September 9, 2024, issue of Forbes, President-elect Donald Trump emphasized that rescheduling marijuana would pave the way for supportive legislation. He stated, "As president, we will prioritize research to unlock the medical potential of marijuana as a Schedule III drug and collaborate with Congress to pass practical laws, including safe banking options for state-authorized businesses and upholding states' rights to establish their own marijuana regulations."
"We are deeply honored to participate in this landmark event, where CBIH will present groundbreaking data on cannabinoids’ potential to treat severe conditions such as cancer, epilepsy, neurodegenerative diseases, and osteoarthritis," expressed Rosangel Andrades, Director of Research and Development at CBIH.
This participation underscores CBIH's commitment to continue developing safe, effective treatments and highlights the urgent need to advance research into cannabis’s therapeutic benefits. With ten patents submitted, CBIH is positioning itself as a leader in advocating for equitable regulation that would grant millions access to innovative solutions for improved quality of life. Participation in the DEA hearings marks a significant step toward a future where cannabinoid-based medicine becomes accessible to all.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties, and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at
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(214) 733-0868
Dante Picazo
CEO - CBIH
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