Vancouver, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) — EVITRADE Health Systems Corp. (CSE: EVA, OTCQB: AXHLF) (the “Company” or “Evitrade”) is a Canadian company but has taken a keen interest of late in American legislative politics. That’s because a new bipartisan bill now winding its way through the U.S. Congress promises to end the federal war on cannabis use.
Instead, individual states, territories and tribes would gain the ability to decide for themselves the best approach to cannabis use within their jurisdictions. President Donald Trump has indicated he will “probably” back the bill, greatly increasing its odds of passage.
If the bill – entitled the Strengthening the Tenth Amendment Through Entrusting States Act (STATES) – becomes law, Evitrade believes it will be a future boom to its business. Not because it legalizes cannabis throughout the United States – it doesn’t. But the bill does offer several important protections to cannabis-based businesses legally operating in the country, and to companies providing science, research, testing nutraceuticals and genetic haploid strain breeding such as the Cantech Molecular Reasearch subsidiary of Evitrade.
“This legislation is definitely a game-changer,” said CK Cheung, CEO of Evitrade. “President Trump’s signal of support gives the bill a vital boost. Assuming this is enacted, it will have a profound and positive impact on our future business. Medicinal cannabis is already in a boom phase, but once this legislation becomes law, cannabis- and hemp-based nutraceuticals will be among the biggest growth industries in the 2020s and beyond.”
Most crucial is a provision that amends the federal Controlled Substances Act. If a cannabis-based business is operating within the laws of a state regarding cannabis manufacture, production and distribution, the federal government cannot target that company for violating the national act.
With this vital protection in place, Evitrade would be able to potentially expand operations in those 29 U.S. states where medicinal cannabis is legal. The company will no longer have to worry about the potential, even if unlikely, of the federal government taking action against it or any subsidiary for producing a controlled substance.
It also opens doors in those 31 states where medicinal cannabis is not yet legal. The STATES Act empowers these remaining states to make their own decisions on medicinal and adult recreational cannabis use. This new freedom may encourage more of these states to legalize medicinal cannabis, further boosting the potential for Evitrade’s market and business prospects.
Polls in the U.S. indicate nearly two-thirds (64 percent) of Americans favor recreational and medicinal cannabis legalization. In North America, legal cannabis represented a $9.2 billion industry during 2017, up 33 percent over 2016. That is presently expected to grow to $47.3 billion market by 2017. However, that forecast was made before Trump’s signal he would support the STATES Act. That number should rocket higher should STATES be signed into law. Worldwide, industry watchers predict spending on legal cannabis to top $57 billion in 10 years. Medicinal cannabis will make up one-third of that market.
Management continues to strive to seek optimal business and commercialization strategies for the Company, This, with the recent engagement of Haywood Securities has the Company planning forward for a bright future.
Contact: C.K. Cheung, CEO
EVITRADE Health Systems Corporation
(formerly Auxellence Health Corporation)
CSE Micro-site: http://thecse.com/en/listings/technology/evitrade-health-systems-corp
US OTC Markets: http://www.otcmarkets.com/stock/AXHLF/news
About EVITRADE Health (CSE: EVA, OTCQB: AXHLF)
EVITRADE (formerly Auxellence Health Corp.), was founded in 2013 to provide online “digital healthcare” services for resolving common health problems. The current markets are weight-management, high blood pressure, high blood glucose and heart arrhythmia.
Disclaimers – Forward Looking Statements
This news release contains forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators and on the OTC Markets website which is posted on www.sedar.com, http://thecse.com/en/listings/technology/evitrade-health-systems-corp, and http://www.otcmarkets.com/stock/AXHLF/filings. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.