HOUSTON, Jan. 04, 2018 (GLOBE NEWSWIRE) -- Indoor Harvest Corp (OTCQB:INQD), a developer of personalized
cannabis medicines and a provider of advanced cultivation methods and processes for the cannabis industry, provides comments on
recent news that Attorney General Jeff Sessions intends to end Obama era policies regarding enforcement of cannabis.
On August 29, 2013, the U.S. Department of Justice (“DOJ”) issued a memorandum (“Cole Memo”) providing that
where states and local governments enact laws authorizing cannabis-related use, and implement strong and effective regulatory and
enforcement systems, the federal government will rely upon states and local enforcement agencies to address cannabis activity
through the enforcement of their own state and local narcotics laws. It is expected that Attorney General Jeff Sessions and the DOJ
will suspend the Cole Memo later today.
While the Cole Memo has allowed cannabis business to flourish in the U.S., it was only a temporary solution. The
actions by the DOJ we believe will put more pressure on Congress to enact legislation that will resolve the current conflict
between State and Federal law. In September, the Marijuana Effective Drug Study Act of 2017 (MEDS Act) was introduced by Sen.
Hatch, a Republican from Utah, which we believe if passed would have a positive impact on the Company’s business plans and
efforts.
Today, 29 states, the District of Columbia and Guam allow their citizens to use medical cannabis through
de-criminalization. Voters in the states of Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon, and Washington have
legalized cannabis for adult recreational use. The Company believes this move, while temporarily disrupting the markets and shaking
investor confidence, is ultimately the right move to make. Currently there is overwhelming public support for some form of cannabis
legalization for medical use.
While it is yet to be seen whether these actions will impede the Company’s immediate business plans, the
Company’s primary business goal is to use the technology, science and relationships developed by the Company to become a registered
producer of cannabis under the Controlled Substance Act pursuant to the policy statement issued under Federal Register Vol. 81 and
subsection 823(a)(1) of the Controlled Substance Act, thus the Company’s primary business efforts are to follow federal law.
The timing and acceptance of any such registration remain to be seen.
About Indoor Harvest Corp
Indoor Harvest Corp (OTCQB:INQD), through its brand name Indoor Harvest®, is a developer of personalized
cannabis medicines and a provider of advanced cultivation methods and processes for the cannabis industry. We are seeking to use
the relationships and technology we have developed to become a registered producer and seller under the federal Controlled
Substance Act (“CSA”) of pharmaceutical grade Cannabis for research by third parties developing targeted treatment for
specific medical symptoms. Visit our website at http://www.indoorharvest.com for more information about our Company.
Forward-Looking Statements
This release contains certain “forward-looking statements” relating to the business of Indoor Harvest and its
subsidiary companies, which can be identified by the use of forward-looking terminology such as “estimates,” “believes,”
“anticipates,” “intends,” expects” and similar expressions. Such forward-looking statements involve known and unknown risks and
uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed,
estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the
Securities and Exchange Commission. These forward-looking statements are based on Indoor Harvest’s current expectations and beliefs
concerning future developments and their potential effects on Indoor Harvest. There can be no assurance that future developments
affecting Indoor Harvest will be those anticipated by Indoor Harvest. These forward-looking statements involve a number of risks,
uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or
performance to be materially different from those expressed or implied by such forward-looking statements. Indoor Harvest
undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable securities laws.
Contact Information
Indoor Harvest Corp
Chad Sykes, Chief of Cultivation
R&D Manager
(713) 410-7903
ccsykes@indoorharvest.com
