Late in May, the Colombian Congress approved medical marijuana legislation. The law was approved with 83 votes in favor, and only three against. The law does not approve the use of marijuana for recreational use. The new law is guided by principals of access and quality -- all Colombians will have equal access to the medication..
John Campo, the President of New Colombia Resources, Inc, and metallurgical coal company with natural resource assets in Columbia, applauded the new legislation. A subsidiary of New Colombia Resources, Sannabis SAS, has a head-start in the new industry, since they have been legally producing marijuana products on an Indian reservation since 2014. Sannabis has applied for medical marijuana licenses, and already has thousands of plants in production..
Sannabis holds security and quality control to the highest standards, especially as implemented by Colombia's new law. Construction of their new laboratory was completed with these standards in place, and Sannabis is in contact with many U.S. and European medical marijuana purveyors that can provide expertise in product development..
Sannabis has several products that have made a marked difference in the lives of patients, and provides cannabis oil to the Fundacion Cultivanda Esperanzas, a foundation for children with epilepsy.
Indeed, as a subsidiary of New Columbia, Sannabis is bound to exceed in this emerging market. As a country, Colombia has been growing exponentially and is ripe for growth and investment opportunities with extensive trade relations, exporting to 181 countries, with more than 9,700 exporter companies, which makes commerce extremely viable. Investors have poured $622.5 million into Colombia’s bond market since the start of 2014, the biggest inflow into any emerging-market country so far in 2014, according to fund flow tracker EPFR Global.
With new and progressive legislation being passed, natural resource assets abounding, and a dynamic domestic market, being the 23rd largest population of the world and the second most populous Spanish-speaking population, Columbia is on the precipice of a long period of economic growth. Investing in things like coal mining companies and metallurgical coal stocks is a wise move for people looking to help the Colombian economy and see returns.