CALI, Colombia, May 02, 2024 (GLOBE NEWSWIRE) -- Sannabis, Inc. f/k/a Ultimate Sports, Inc. (OTC: USPS) (the ‘Company’), a company with fully licensed cannabis operations in Colombia, announces its first shipment this week of pure Cannabis Essential Oil (CEO) to the U.S. They have obtained the required documentation to ship through DHL and other global carriers. Click here to see Sannabis’ Essential Oil Data Sheet and Declaration of Origin.
The oil will be used to make products to fill an order for thousands of their Sannabis NO LICK! Terpene Spray, designed to elevate the cannabis experience by harnessing the power of cannabis terpenes by working in synergy with THC and CBD. NO LICK! is first being rolled out in convenience stores in the Boston area, and then will be distributed across the country.
Samples of pure essential oil are also being sent to U.S. food and beverage companies interested in adding cannabis terpene aroma, flavoring, and therapeutic benefits to their existing global brands, without breaking federal marijuana laws by using terpenes derived from U.S. grown cannabis.
Terpenes are aromatic compounds found in cannabis that not only contribute to the distinctive flavors and aromas of different strains, but also play a crucial role in enhancing the effects of cannabinoids like THC and CBD, terpenes alone contain no THC or CBD. This phenomenon is known as the Entourage Effect. Forbes recently reported that EEG scans show CBD Products are More Effective For Relaxation With Terpenes.
The cannabis industry has witnessed significant growth globally, with various countries legalizing or decriminalizing cannabis. Although its being reported the DEA is declassifying marijuana, U.S. cannabis stocks declined yesterday because they still have significant hurdles to climb, and are currently operating at 70% effective tax rate.
Both Colombia and the U.S. are key players in this industry, but there are distinct advantages for Colombian cannabis producers over their U.S. counterparts.
Colombian Cannabis Producers:
1. **Low-Cost Production: ** Colombia offers ideal conditions for cannabis cultivation along the Equator, including abundant sunlight, optimal humidity, and favorable soil quality. These natural advantages translate to lower production costs compared to many other regions, including the U.S. This cost efficiency enhances the profit margins of Colombian cannabis companies.
2. **Export Potential: ** Colombia's strategic geographical location allows for easy access to international markets. Colombian cannabis companies have the potential to export their products to various countries where cannabis use is legal, offering a significant growth opportunity beyond domestic sales.
3. **Established Regulatory Framework: ** Colombia has established a comprehensive regulatory framework for the cannabis industry, providing clarity and stability for investors and customers. The country's government has been supportive of the cannabis sector, implementing regulations that facilitate business operations while ensuring compliance with international standards.
4. **Emerging Market Potential: ** The Colombian cannabis market is still in its early stages, presenting ample opportunities for growth and expansion. As more countries legalize cannabis for medical and recreational purposes, Colombian companies are well-positioned to capitalize on the increasing global demand for cannabis products.
*U.S. Cannabis Producers: *
1. **Regulatory Challenges: ** Despite the legalization of cannabis in several U.S. states, the industry continues to face regulatory challenges at the federal level. Cannabis remains classified as a Schedule I controlled substance under federal law, creating legal uncertainties and hindering the growth of U.S. cannabis companies.
2. **Competitive Landscape: ** The U.S. cannabis market is highly competitive, with numerous players vying for market share. This intense competition can exert downward pressure on prices and profit margins, making it challenging for companies to maintain sustainable growth and profitability.
3. **Limited Export Opportunities: ** While some U.S. states have legalized cannabis for recreational use, federal restrictions on cannabis exports limit the international expansion potential of U.S. cannabis companies. This constraint prevents U.S. firms from fully capitalizing on global market opportunities.
4. **Higher Production Costs: ** Cannabis cultivation in the U.S. is often more expensive than in countries like Colombia due to factors such as higher labor costs, energy expenses, and regulatory compliance requirements. These higher production costs can erode profitability and limit the competitiveness of U.S. cannabis producers.
Sannabis recently launched grow operations in Colombia.
Visit Sannabis.co. for more information about Sannabis, and the terpene profiles of their innovative cannabis products.
About Sannabis, Inc., f/k/a Ultimate Sports, Inc.
Sannabis, Inc. f/k/a Ultimate Sports, Inc., is acquiring Sannabis S.A.S. in Colombia, a fully licensed Colombian cannabis company. They have a line of cosmetic, medical, homeopathic, and industrial products, made from cannabis and hemp. They are licensed to grow, manufacture, and export cannabis and cannabis derivatives. For more information, visit Sannabis.co.
Company Media/USA & International Sales Contact:
John Campo, Investor Relations, Sannabis co-founder
+1-410-236-8200 USA (WhatsApp only)
+57-318-657-0918 Colombia (Office)
jcampo@mensarx.com
X @JohnCampo
Colombia Media/Latin American Sales Contact:
Juan Pablo Guzmán, Director, Sannabis co-founder
+57-321-320-2024 Colombia Office
sannabis.sas@gmail.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 might 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. Sannabis, Inc. f/k/a Ultimate Sports, Inc. and/or Sannabis S.A.S. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
