Las Vegas, NV, July 30, 2018 (GLOBE NEWSWIRE) -- South American Gold Corp. (Sativa Growth International OTC Pink: SAGD) ("Sativa Growth", or the "Company"), an emerging cannabis supply company, has partnered with City Weekly of Salt Lake City to host the first annual medical cannabis conference in the State of Utah; Utah Cann 2018. The conference will take place October 19th and October 20th, 2018 at the Mountain America Expo Center in Sandy, Utah.
Sativa Growth is fully committed to the education as well as propagation of the medical cannabis industry, and as such has taken a key role in the cultivation of both industry and education to the State of Utah. The Company has strategically aligned key industry leaders, who have seen success in the industry and have helped to pave the way for opportunities in states that are still pending legislative action on cannabis bills.
Gary Austin, Director of Sativa Growth, stated, "The objective of the conference is to educate both professionals and the general public. It is our responsibility to ensure everyone has access to the science and facts, rather than only biased and politically motivated information. We have requested the expertise of doctors, scientists, manufacturers, entrepreneurs, and personal testimonials to accurately convey the power of medical cannabis in both private uses, as well as business opportunities. In order for medical cannabis to build trust in consumers, we must start with education."
The cannabis industry is reporting all-time high revenue in states where legalization has taken place. Both Colorado and Washington have experienced tremendous growth in the cannabis business ecosystem.
Even setting aside financial gains by the myriad private businesses now operating in each state and focusing instead on state revenues such as excise taxes and licensing fees, the case is clear. In 2014, Colorado received over $76 million in revenues, $35 million of which went directly toward funding the state’s education system. In 2015, total tax revenues from cannabis increased to over $135 million.
In 2016 the State of Washington’s tax revenues from cannabis were was projected at $185 million, with the expectation of 2017 reaching over $230 million. The lion’s share of tax revenues in Washington is slated for public health programs including Medicaid, substance abuse prevention, and community health centers.
"We have a responsibility to share the positive impact of the industry with not only our valued shareholders but also the general public and private business community. We see our position in this conference as nothing less than an honor." SAGD Director Gary Austin continued, "We have no doubt the conference will be a success and lay the groundwork for a solid industry foundation for the State of Utah and contribute to a favorable outcome in the November vote. We have already gained the support and committed participation of Project CBD, one of the largest educational resources for medical cannabis and many other industry leaders including Martin A Lee, Stormy Simon, and Nancy Whiteman. Our attendees will have the first ever local opportunity to gain valuable knowledge of the industry and how it could impact them, and their way of life."
Following the social media announcement of the conference on Tuesday, July 24th, a holiday in Utah, the event had an overwhelming response and is being shared across multiple social media platforms by hundreds of people. It is currently being projected that up to 10,000 people will attend the conference on October 19th and 20th 2018.
Utah is well known for its strong opposition to cannabis, but recent polls have shown marginal support for the Proposition 2 bill that would legalize the use of medical marijuana by those who are in critical need and have received a prescription from a doctor. The opposing stance of the LDS church has been vocalized but is now being met by opposition from the general public who is demanding answers to their questions about the health benefits of the plant and the vast opportunities to operate a business in the space. The vote is slated for November 6th 2018, two weeks following the conference.
For more information on the conference, see utahcann.com.
Forward Looking Statements:
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Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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