In California’s race to legitimize recreational marijuana, at least 10 legalization initiatives are vying to appear on the state’s November 2016 ballot. California is arguably the cultural and economic nucleus of the country’s cannabis industry. Its numerous marijuana farms are estimated to produce 60 to 70 percent of all marijuana consumed in the country. What’s more, legalization in California would launch a cannabis market in what is the world’s eighth largest economy, according to IBTimes.com.
Separately but related, Gov. Jerry Brown has imposed statewide rules on the growth, transport, and sale of cannabis. Signing three bills in October 2015, the governor created a regulatory system for medical cannabis that could be adapted for widespread use if voters make it legal by passing a 2016 ballot initiative.
Wisdom Homes of America, Inc. (WOFA) believes the potential legalization and the statewide rules increase the overall value of the non-exclusive licensing rights that the Company has to CannaStrips. In the past five months the company refocused all of its efforts back into the medicinal cannabis industry. After significant due diligence it identified a specific market segment, oral strips (similar to breath strips), providing an exacting and controlled dosage of cannabis, without the health risks associated with smoking or potential chemical inhalation associated with some smokeless inhalers. It has executed a licensing agreement with Canna Delivery Systems, Inc., a wholly owned subsidiary of Lifestyle Delivery Systems, Inc. in which the company has the non-exclusive license to market CannaStrips throughout northern California. And it has secured manufacturing and distribution relationships, as well as received orders.
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