BEVERLY HILLS, Calif., - (http://www.financialnewsmedia.com News Alert) - Crown Baus Capital Corp. (OTC: CBCA), a global acquisition-based conglomerate targeting five primary industries: high-tech incubation, drug development, entertainment/media, education, and financial services, sees this week\'s Congressional efforts to amend the Controlled Substances Act to permit medical use of cannabis on a nationwide basis as history in the making. This federal medical cannabis legalization effort in Congress motivates Crown Baus Capital to complete its negotiations to formally begin its Cannabis Drug Development Program using state-by-state legal resources and distribution.
The Company has already initiated drug development activity by negotiating to purchase property in several legal medical cannabis states across the country. This, coupled with the expertise of the Company\'s drug development partners, Crown Baus Capital expects to be able to fast track cannabis drug development to make these critical cannabis formulations available for those in need on a nationwide basis.
A group of bipartisan U.S. Representatives -- Scott Perry (R-Pennsylvania), Dana Rohrabacher (R-California), Steve Cohen (D-Tennessee), and Paul Broun, MD (R-Georgia) -- introduced a bill, H.R. 5226, to redefine \"marijuana\" on a federal legislative level to allow therapeutic, high-CBD cannabis oil to be used to treat seizure disorders. This is a major federal step towards the legalization of medical cannabis, which follows the approval of medical cannabis in nearly half of the states, with many more states actively pursuing legalization for medical and drug development purposes.
In addition, U.S. Senator Rand Paul (R-Kentucky) has announced that he will introduce a bill to reschedule cannabis from its Schedule 1 status under the Controlled Substances Act, so that cannabis can be properly researched, developed, and prescribed for medical purposes. Senator Paul has worked diligently through federal legislation to help states that have legalized medical cannabis.
\"Our Drug Development Division\'s medical cannabis initiatives are strengthened by this week\'s progress in the U.S. House and Senate. These federal developments, in light of the rapid progress on the state level and overwhelming support for medical cannabis among...
$CBCA News - Federal Medical Cannabis Legalization Efforts in Congress Motivates Crown Baus Capital to Initiate its Cannabis Drug Development Program With State-by-State Legal Resources
August 01, 2014 at 08:51 AM EDT