CBD Life Sciences, Inc. (CBDL) Reports: Marijuana-Cannabidiol (CBD) Bill Signals New Era in Federal Cannabis Policy

SCOTTSDALE, AZ / ACCESSWIRE / November 29, 2022 / Today, CBD Life Sciences (OTC PINK:CBDL) through its wholly owned subsidiary, LBC Bioscience Inc. announces today that the first bill solely related to marijuana has been sent to POTUS after being approved by the U.S. House and Senate - an unfathomable feat a decade ago. Passed by unanimous consent, by the Senate, the marijuana-related bill signal times are changing and so are perceptions about marijuana and cannabidiol.

After years of battling to legalize marijuana for medical purposes, the H.R. 8454 - Medical Marijuana and Cannabidiol (CBD) Research Expansion Act marks a "historic breakthrough in addressing the federal government's failed and misguided prohibition of cannabis as a whole."

President & CEO Lisa Nelson states, "This will open up many opportunities for the company and this couldn't be a better time to enter the marijuana sector in a movement to take over the industry and become one of the top distributors in the United States!"

Per Congress.gov, the Medical Marijuana and Cannabidiol (CBD) Research Expansion Act will:

Establish a new, separate registration process to facilitate research on marijuana.

Specifically, the bill directs the Drug Enforcement Administration (DEA) to follow specified procedures to register (1) practitioners to conduct marijuana research, and (2) manufacturers to supply marijuana for the research.

The bill allows certain registered entities (including institutions of higher education, practitioners, and manufacturers) to manufacture, distribute, dispense, or possess marijuana or cannabidiol (CBD) for the purposes of medical research. Additionally, the bill directs the DEA to register manufacturers and distributors of CBD or marijuana for the purpose of commercial production of an approved drug that contains marijuana or its derivative.

In summary, the Medical Marijuana and Cannabidiol (CBD) Research Expansion Act will allow a more streamlined approach to the application process for marijuana studies and will remove the strict barriers that have slowed down the process. Research on CBD and other potentially beneficial marijuana-derived substances will be based on sound science without regulatory hindrance. This Act is very significant due to it being the first legislation to unite opponents and proponents of cannabis legalization.