As a cannabis industry leader, Schroeder was asked for his thoughts regarding the January 4 announcement by United States Attorney General Jeff Sessions that he has rescinded the Obama-era Cole Memo, a federal policy that directed prosecutors and law enforcement to not prioritize interfering with states that legalized cannabis.
The announcement came only days after California, one of eight states to legalize adult use cannabis, launched its soon-to-be billion dollar recreational marijuana market.
“At the 25th hour, for the federal government to come in and cast some clarity, or try to make the situation less clear, is pretty surprising for us,” Schroeder told CBS News 8.
The new policy suggests the Department of Justice may be planning to enforce federal laws against recreational marijuana. A federal crackdown could jeopardizebillions in revenue and taxes and hundreds of thousands of full- and part-time jobs.
In the interview, Schroeder said he remained hopeful that state-legal marijuana businesses would be okay provided they follow state law.
“It’s business as usual. I think that dispensary owners in particular should try to follow the state laws. They’ve all got their licenses. They’ve been working for months and months and months to get their business legal. And I think they should try to follow state laws as closely as they possibly can.”
MJNA and the federally legal hemp cannabidiol (CBD) market is unaffected by the policy change announced by Sessions. CBD hemp oil is excluded from the federal Controlled Substances Act and unaffected by adult use or medical marijuana laws.
Last month, Schroder was promoted to MJNA Chief Operating Officer and will also continue in his dual role as Chief Executive Officer for MJNA subsidiary Kannaway®, which sells hemp-based botanical products meant for health and wellness. In November, the Company announced its largest-ever revenue month in the history of the company.
“We’re hopeful that the Trump administration is just going to continue as promised to let the state’s decide their laws, and we move forward,” Schroeder concluded in the interview.
credit:medicalmarijuanainc.com
