DALLAS, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Bayport International Holdings, Inc. BAYP is issuing a shareholder update in response to Attorney General Jeff Sessions' recent announcement to step up enforcement of federal cannabis laws in states where cannabis is legalized for recreational use.
The Company hereby states that operations and plans for 2018 will not be affected if the federal government does decide to increase cannabis enforcement. Bayport's operations do not "touch the plant," meaning the Company is not involved in the cultivation, production, extraction, or sale of physical cannabis and its by-products.
As a Cannabis technology company, Bayport is able to bring cannabis consumers and entrepreneurs together on a global scale. This allows the Company to benefit from other cannabis markets, such as Canada, Australia, and more. Technology will allow cannabis companies to set themselves apart in an increasingly crowded field. For cannabis consumers, technology will provide ability to connect with their local vendors and shop at www.weedwiser.com upcoming ecommerce store.
Jeff Sessions recently announced the nullification of the Cole Memo, which was issued by then-Attorney General James Cole in August 2013. The Cole Memo essentially made federal cannabis enforcement a low priority and focus within states that had legalized cannabis for recreational use. Bayport International believes this announcement will benefit the Cannabis Industry as it will now force Congress to act, after years of largely ignoring the issue. The Cole Memo was never meant to be a long term solution for the cannabis movement, and it is important to have real legislation that creates a set of universal guidelines that can keep consumers and entrepreneurs safe. It is now up to Congress to respond and create real legislation.
Bayport also believes that there have been protections within the recent Federal Budgets that will curtail enforcement of Federal Laws that are in conflict with State measures. The Company looks forward to keeping investors informed on changes in the industry and its own developments as needed.
Bayport International Holdings, Inc. is also pleased to officially unveil new URL for corporate website: www.baypcanna.com. Additional details will follow as the website is closer to completion.
The company would also like to officially announce its new official corporate address:
3838 Oak Lawn Avenue
Suite 1000
Dallas, Texas 75219
About Bayport International Holdings, Inc. (OTC PINK: BAYP):
Bayport International Holdings, Inc. is a holding company active within the cannabis technology industry. Through its Weedwiser.com digital platform, the company seeks to be a leader in the emerging cannabis technology industry. Furthermore, the company is currently evaluating acquisitions within the industry. Learn more about the company by visiting http://www.weedwiser.com and www.baypcanna.com.
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Bayport International Holdings, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Bayport International Holding's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Bayport International Holding's filings with the Securities and Exchange Commission.
Contact Info 3838 Oak Lawn Avenue Suite 1000 Dallas, Texas 75219 Phone: 214-438-3890 www.baypcanna.com Investor Relations Contact: Spotlight Growth Matt Rego
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