View Systems, Inc.’s (VSYM) Sannabis Announces Issuance of Fabrication, Production, and Export License by Colombia’s Ministry of Health for Cannabis THC and Hemp Derivatives to Supply a Market Growing at 23% annually.

Company already selling hemp seed oil products approved by INVIMA, Colombia’s FDA.

Cali, Colombia, Nov. 24, 2020 (GLOBE NEWSWIRE) -- View Systems, Inc.’s (VSYM), medical marijuana and hemp subsidiary, Sannabis S.A.S. (“the Company”) announces they received notice yesterday from Colombia’s Health Ministry of Resolution 1606 of 2020 issuing Sannabis S.A.S. a Cannabis Derivative Fabrication License. This is one of four Cannabis Licenses needed in Colombia, and the only one issued by the Ministry of Health. This license allows for export of THC and Hemp/CBD cannabis derivatives around the World. Click here to see a copy of the notice.

Sannabis will make further announcements on the issuance of the 3 Ministry of Justice Licenses.

1. Seed Use License- Seed Bank registers and Certifies Seeds. Coveted since no more license applications accepted.
2. Non-psychoactive (Hemp) License- allows cultivation of < 1% THC Cannabis (Hemp).
3. Psychoactive (THC) License- allows cultivation of > 1% THC.

Although the Seed Use (Seed Bank) License is issued by the Ministry of Justice, it needs to be approved by the Colombia Agriculture Institute (ICA). Sannabis has an ICA site visit this week for approval of their Seed Bank by the Justice Ministry.

The Derivative Fabrication License allows Sannabis to extract cannabinoids, oils, distillates, isolates and to manufacture final products for both national and export markets. The global cannabidiol market size is expected to reach US$ 23.6 billion, expanding at a CAGR of 22.2%, according to a new study by Grand View Research, Inc. Increasing adoption of cannabidiol (CBD) infused products in various industries such as pharmaceuticals, personal care and cosmetics, and nutraceuticals along with its medical applications is expected to drive the market over the next 7 years.

Sannabis will expand a state-of-the-art production complex near their grow facilities in Cauca, Colombia’s top marijuana growing region, with a library of proven genetics.

Since export of biomass (dried flower) is prohibited by the Colombian government, Sannabis has a company in Uruguay, Campo de Violetas S.A., that can export BioMass. Earlier this year, Company President and Sannabis co-founder, John Campo, was awarded an Import Permit to the U.S. from the United States Department of Agriculture (USDA) for Cannabis from Uruguay. Click here to see a copy of the Cannabis Import Permit. It is important to note, in 2016 Colombia held 40% of the world cannabis quota issued by the International Narcotics Control Board, https://www.incb.org/incb/en/index.html.