NEW YORK, NY--(Marketwired - Mar 6, 2014) - Plandaí Biotechnology (OTCQB: PLPL) is one of a handful of publicly traded companies that are eagerly anticipating the legalization of medical marijuana nationwide. Currently the drug is legal medicinally in 20 states and Washington, D.C., but in this election year, that number is likely to grow. In each national election year, the frenzy begins again and with it, a growing momentum that has the U.S. drawing closer to a nationwide acceptance.
Between dramatically shifting polls, Dr. Sanjay Gupta's documentary Weed that highlights a number of patients who saw stunning improvements after using medical marijuana, and an uptick in activity in the Obama Administration, momentum is at an all-time high in favor of legalizing the drug. In November, mid-term elections will see voters heading to the polls to take up the legalization issue on a number of state ballots including Florida and Alaska.
Alabama, Georgia and South Carolina are also states considering legalization laws, and along with Florida, these states could help shape the fight in the South. The movement to legalize medical marijuana is obviously necessary for public companies like Plandaí to introduce cannabis based products on a much larger scale.
Plandaí is working to transform the world of nutraceuticals by making available extracts from live plant material that deliver the highest levels of bioavailability currently in the market. The company recently added cannabis as another botanical Plandaí will obtain live plant material from in order to generate a line of products. Plandaí's Phytofare™ cannabis extracts will be branded under the Diego Pellicer Gold label, and legalization will allow the company to produce and market these products to a much wider audience.
As the debate plays itself out, former Microsoft executive Jamen Shively has been tapped to brand and market Plandaí's cannabis extracts. Shively, co-founder of Diego Pellicer, Inc., has witnessed the growing momentum and he anticipates legalization nationwide sooner rather than later.
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