Arizona Law May Protect Medical-marijuana Users From Feds' New Stance

LOS ANGELES, January 16, 2018 /PRNewswire/ --

USA News Group - U.S. Attorney General Jeff Sessions may be looking to crack down on pot sales in states where they are legal, but Arizona medical-marijuana users likely don't need to worry.

A provision buried in the federal budget, plus a safety valve in what Arizona voters enacted in 2010, are expected protect individual medical-marijuana users in the State unless the Drug Enforcement Administration starts targeting individual users, which is considered highly unlikely.

Leading cannabis companies have seen positive feedback from support such as Arizona's and other lawmakers across the country. The companies are experiencing positive momentum as a result including Aurora Cannabis (TSX: ACB) (OTC: ACBFF), MedReleaf Corp. (OTC: MEDFF), GW Pharmaceuticals (NASDAQ: GWPH), and MYM Nutraceuticals Inc. (CSE: MYM) (OTC: MYMMF).

In what is equivalent to an about face, Attorney General Sessions announced that he is rescinding a memo that directed the federal prosecutors under his jurisdiction not to target businesses or individuals who are in compliance with state marijuana laws despite the fact the drug remains illegal under federal law.

It's evident that the tide has turned with regard to public perception of marijuana use, but Sessions is apparently determined to follow the contentious ruling.

Still, markets are rebounding on actions by the states and the positive news out of Canada where medical-marijuana is already legal. Several prominent companies are continuing their initiatives to expand capacity including Aurora Cannabis (TSXV: ACB) (OTC: ACBFF), and others focusing on medicinal applications and therapies using cannabis, such as MedReleaf Corp. (OTC: MEDFF), and GW Pharmaceuticals (NASDAQ: GWPH).

There are also a few specialized companies looking to support their efforts in developing formulations, extracts and supplying marijuana based on their Licensed Producer status. Among these, MYM Nutraceuticals Inc. (CSE: MYM) (OTCQB: MYMMF) is leading the charge. The company has announced it is developing some of the world's largest cannabis greenhouses, as well as diversified interests in cannabis derivatives, formulations and most recently, producing cannabis in Australia for that growing market.