SOURCE: Cannabis Therapy Corp.

Cannabis Therapy Corp.

June 09, 2014 09:00 ET

Cannabis Therapy Corp. Applauds Measure to Limit Federal Interference at State Level

Bipartisan Actions by the US House of Representatives Offers Great Possibility for Growing Industry

BOULDER, CO--(Marketwired - Jun 9, 2014) - Cannabis Therapy Corp. (OTCQB: CTCO) (the "Company") a development stage company aiming to become a leader in the research, development and commercialization of safe, all-natural, THC-free cannabinoid-based medicinal therapies and supplements (Nutraceuticals), is very pleased that the US House of Representatives passed a measure early on Friday May 30th that could prohibit the federal government from interfering with states' medical marijuana laws.

The bill is the first time in history that any chamber of Congress has acted to protect medical marijuana businesses and users. It received bipartisan support with 170 Democrats and 49 Republicans voting in favor of the bill.

The measure was attached to a funding bill for several federal agencies, and it blocks the Department of Justice and Drug Enforcement Administration from using funds to prevent states from implementing their own medical marijuana laws.

Marijuana advocates praised the House's decision.

"Congress is officially pulling out of the war on medical marijuana patients and providers. Federal tax dollars will no longer be wasted arresting seriously ill medical marijuana patients and those who provide to them," said Dan Riffle, Director of Federal Policies at the Marijuana Policy Project, in a statement. "This is a historic vote, and it's yet another sign that our federal government is shifting toward a more sensible marijuana policy."

The measure will require approval from the Senate and President Obama to become law, but the historic vote appears to be part of the federal government's ongoing shift towards liberalized marijuana policies. In related news, the federal government recently increased the amount of marijuana allowed to be grown for medical research purposes and the administration has also taken steps to limit prosecutions against marijuana businesses that operate legally under state laws.

The opinion of many political pundits is that as congressional leaders gain more constituents that legally use marijuana for recreational and medical purposes, they will face increasing pressure to relax their stance on the drug.

Cannabis Therapy Corp President & CEO Soren Mogelsvang comments, "This is great news for the industry at a time where clarity and common-sense needs to prevail. Our approach has been to work within the legal framework while attempting to anticipate future changes. This has been a key driver to our strategic planning. It is very gratifying and refreshing to see the House of Representatives undertake such a far-reaching and practical approach to lawmaking, especially in such a bipartisan fashion. We applaud the vision and foresight of this historic milestone which should lead to further legal measures that could stabilize and improve the overall business climate in this exploding sector."

For more information about the Company please visit www.cannabistherapy.com and watch our corporate video at www.cannabistherapy.com/news/presentations/.

Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more information please visit www.cannabistherapy.com.

About Cannabis Therapy Corp. (OTCQB: CTCO)
Cannabis Therapy Corp. aims to develop and market safe, phytocannabinoid-based medicinal products and to apply rigorous manufacturing and quality control standards to become a global leader in the research, development, manufacturing, testing and marketing of cannabinoid ingredients and therapies. For more information visit www.cannabistherapy.com.

Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the availability of additional funding; and the Company's business, product development, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's current reports on Form 8-K. The Company does not undertake to update these forward-looking statements.

ON BEHALF OF THE BOARD,

Soren Mogelsvang, President & CEO
Cannabis Therapy Corp.

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