In February of this year, New York passed a new law to provide provisional marijuana cultivation licenses to existing hemp businesses.
USMJ has a subsidiary that has been growing hemp for CBD for the past four years. The company announced in March of this year, that its subsidiary had received an invitation from the New York Office of Cannabis Management (OCM) to apply for the provisional adult-use cannabis license. Today, USMJ announces that the license has been awarded.
In light of the license, USMJ and its sister company, Puration, Inc. (OTC Pink: PURA) are reviewing current business plans and exploring an update to the existing strategy of both companies.
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