Cannabis Global, Inc. (CBGL), an innovation-oriented company investing in disruptive cannabis and hemp-related technologies, and Marijuana Company of America (MCOA) today jointly issued statements concerning California’s Passage of Assembly Bill 45 (“AB 45”), which seeks to establish a regulatory framework for industrial hemp under the Sherman Food, Drug, & Cosmetic Law framework.

Governor Gavin Newsom (CA), who easily beat back a challenge to his leadership last week in a landslide recall election win, has already expressed strong support for AB 45.

Enactment of this legislation would resolve California state enforcement completely by deeming CBD safe for human and animal consumption and ending state prohibition of CBD products.

Moreover, full passage of the measure would open the door to the production and sale of CBD products in the state despite Federal regulatory barriers.

Cannabis Global Inc (CGBL)

Cannabis Global CEO Arman Tabatabaei stated,

“Without state cooperation, we believe the FDA would likely have trouble providing an effective regulatory framework for CBD in California.

AB 45 is a game changer for companies that market CBD products in the state. While important restrictions on manufacturing remain in place, this is unequivocally positive for any producer of hemp or CBD products targeting end-market consumers in California.”

Marijuana Company Of America (MCOA)

“This legislation represents a crucial step for a viable industry with tremendous value to offer California residents,” remarked Jesus Quintero, CEO of Marijuana Company of America.

“We have faith in the state’s democratic process and the system’s ability to produce a rational legislative result on this issue.

AB 45 opens the door to a world where California consumers can finally gain access to the CBD products they have been requesting for years.

And the Assembly’s passage of the bill is a big step in the right direction.

AB 45 has successfully passed California state legislative consideration

and now rests on Governor Newsom’s desk,

where it is widely expected to be signed into law over coming weeks.

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Subsidiary of MCOA Marijuana Company Of America. November 2021

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