SOURCE: New Colombia Resources Inc.

New Colombia Resources Inc.

January 07, 2015 10:15 ET

New Colombia Resources Inc. Subsidiary, Sannabis SAS, Receives Approval to Produce Medical Marijuana Products on Colombian Indian Reservation

CALI, COLOMBIA--(Marketwired - Jan 7, 2015) - New Colombia Resources, Inc. (NEWC) ("New Colombia or the Company") (OTCQB: NEWC), a U.S. company with coal and other resource assets in Colombia, through its subsidiary Sannabis SAS ("Sannabis"), is pleased to announce the Governor's approval of a medical marijuana operation on the Toez Indian Reservation in Colombia. This consent was given with the objective to "cultivate, transform, and commercialize licit products and traditional and ancestral medicines derived from the sacred cannabis plant with the objective to generate employment within the reservation…" 

New Colombia has been developing cannabis operations through its subsidiary, Sannabis SAS, in joint venture with members of the Toez Indian chapter of the Nasa Tribe of Colombia. Tribes in this area have been developing medicines from the sacred cannabis plant for generations. Sannabis is working with these reservations to establish a sustainable medical marijuana and industrial hemp industry. Along with its greenhouse facility, construction of a laboratory to process cannabis into medicines is near completion. Juan Pablo Guzman, President of Sannabis SAS, has been developing cannabis-based medicine for over two years with Toez partners. He has been a leader in Colombia's medical cannabis movement for over 18 years.

In Colombia it is legal for autonomous indigenous societies to grow marijuana and produce medical products on their reservations and it is currently illegal to grow marijuana outside of Indian reservations. A bill was introduced in the Senate last year to regulate medical marijuana, a recent poll showed 60% approval among the population. A second debate in the Senate is scheduled for March.

Sannabis will be hosting a delegation from the Colombian Senate at their facilities in March and will also extend invitations to a number of politicians from Florida. The company will invite representatives from Indian reservations in Florida to discuss the viability of importing medical marijuana products to their reservations from Colombia. 

The company is currently selling products locally to patients and can't keep up with the demand due to the relief these products provide. Media coverage in Colombia has proven favorable and is expected to perpetuate during the next medical marijuana debate scheduled for March. Sannabis, along with patients, were interviewed by the AP for a story to be released during the next debate. For product details visit their website under construction www.sannabis.co

Sannabis S.A.S. operates as a subsidiary of New Colombia Resources and has joint venture operations with members of the Nasa Indian Nation. Sannabis is a commercial and social initiative that is creating a new Hemp and medical Cannabis Industry in Colombia. Sannabis is documenting patient outcomes to prepare for possible clinical studies to eventually support an FDA and INVIMA application for a pharmaceutical grade product. 

Follow Sannabis on Facebook at https://www.facebook.com/sannabis.cannamedicinal

New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. Company properties are in the final stages of completing all environmental approvals and plan to launch operations in the first quarter of 2015. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have also identified and negotiated for the acquisitions of an additional 390 hectares and a solicitation contract for 184 hectare property with a metallurgical coal concession. For more information on the Company visit www.newcolombiaresources.com

Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information

  • Company Contact:
    New Colombia Resources, Inc.
    John Campo
    President/Chairman
    (1)-410-236-8200 USA
    jcampo@newcolombiaresources.com

    New Colombia Resources, Inc., mining subsidiary
    Cia. Minera San Jose Ltda.
    Kra. 3 # 2-52
    Guaduas, Cundinamarca
    Colombia
    (57) 318-657-0918