Welcome!

News Feed Item

New Colombia Resources Inc. Announces Medical Marijuana Producer Sannabis is First to Pay Colombia's New Cannabis Tax

Company to be applying for cultivation licenses by April 28

CALI, COLOMBIA -- (Marketwired) -- 04/20/17 -- New Colombia Resources, Inc. ("the Company") (OTC PINK: NEWC), a Colombian natural resource company listed in the U.S., with premium metallurgical coal and medical marijuana assets, is pleased to announce their medical marijuana joint venture, Sannabis SAS, is the first company to pay Colombia's new Cannabis tax. This tax was presented as part of Articles 209-213 of the recent tax reforms in Colombia that went into effect earlier this year. Sannabis is the leading brand in Colombia for medical marijuana products with tremendous success in treating patients. "Sannabis is proud to be the first one to contribute taxes for the development of a new cannabis industry in Colombia for legal uses," stated Juan Pablo Guzman, President of Sannabis, S.A.S.

The new tax code imposes a 16% tax on finished goods derived from psychoactive or non-psychoactive cannabis products. The tax applies to all products made from cannabis such as creams, shampoos, pills, paper, textiles, animal feed, plastics, and medical preparations.

Sannabis is a pioneer in Colombia's new medical marijuana industry, legally producing medical marijuana products on an Indian Reservation in Colombia since 2014. This first mover advantage will benefit Sannabis as it maneuvers the recently approved licensing process to grow marijuana and manufacture products outside of the Indian reservation. For a brief video on the history of Sannabis visit, https://www.youtube.com/watch?v=xzuFtp5-Iyo

On April 10, 2017, the Ministers of Health, Justice, and Agriculture signed Decree 613 regulating the medical marijuana industry. This decree enables the government to accept cultivation license applications. Sannabis is working with the Ministry of Health to apply for their licenses to grow outside the reservation that won't go into effect until 2018. Until then, Sannabis will continue to legally sell their products increasing their domestic and international markets while others wait for their licenses. Sannabis is aggressively pursuing the U.S. market for non-psychoactive CBD and Hemp products with their new U.S. distributor that is majority owned by New Colombia Resources.

Sannabis was instrumental in gathering the mayors of several municipalities in the Colombia's Cauca Department, the largest marijuana growing region, to form a co-operative of marijuana growers now known as Caucannabis. Last year Sannabis hosted these mayors at their cultivation and manufacturing facilities in Cauca to showcase their efforts in the field. A recent article in the New York Times talks about the efforts of this region to transform itself into a leader in medical marijuana. The article speaks of a Canadian company's efforts in the region, Sannabis and Edward Garcia, mayor of the town of Corinto began this enterprise. In a recent interview by a U.S. film crew doing a documentary on Colombia's new industry, Mr. Garcia clearly acknowledges Sannabis as the first one in the region that began the movement. Sannabis has several projects including a new laboratory in Corinto that will be announced soon. Click here to read the article, https://www.nytimes.com/2017/03/09/world/americas/colombia-marijuana-farc-drugs-santos.html

New Colombia Resources will be making additional announcements concerning their medical marijuana and coal mining operations and shipments as soon as their much-anticipated annual report is filed.

To view a nationally televised documentary about medical marijuana in Colombia featuring Sannabis growers, patients, and management visit the first video on http://www.sannabis.co/video. This documentary interviewed Sannabis patients and their loved ones around the country using Sannabis products.

Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.cannamedicinal

New Colombia Resources, Inc.

New Colombia Resources, Inc. owns vast reserves of premium metallurgical coal mining titles and a medical marijuana joint venture in the Republic of Colombia. They are setting up a rock mining operation to supply the major road and infrastructure projects within miles of their properties. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15-17 million tonnes of reserves. They have an additional 1196 ha. metallurgical coal mining title that they are negotiating to develop with a foreign entity to build a coal fired power plant. New Colombia Resources holds a significant position in Sannabis SAS which legally produces medical marijuana products in the Republic of Colombia, visit www.sannabis.co. For more information on the Company visit www.newcolombiaresources.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. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...