Golden Developing Solutions, Inc. announces its status
change with the OTC Markets Group to Pink Current
Information
Austin, TX -- March
08, 2018 -- InvestorsHub Newswire
-- Golden Developing
Solutions, Inc. (Pink:
DVLP) (the "Company") announced today that its stock is now
quoted on the OTC Pink Market (current information), because it has
made adequate current information publicly available within the
meaning of Rule 144(c)(2) under the Securities Act of 1933, as
amended. Stavros Triant, the Company's Chief Executive Officer,
commented, "We're pleased to have our stock quoted on the OTC Pink
Market. We believe that the U.S. cannabis industry is poised for
significant growth over the next few years and we're excited to
enter a market that has what we see as greatpotential."
About
Golden Developing Solutions, Inc.
Golden
Developing Solutions, Inc. has structured itself as a holding
company to provide business
services and/or
products supporting the cannabis industry and intends to make
acquisitions in the near
future. Currently, 29
states and the District of Columbia have passed laws permitting
their citizens to use
cannabis for medical
and/or recreational purposes. Cannabis has shown encouraging signs
as a
treatment for various
medical conditions and has become increasingly more acceptable to
the public
and
society.
Marijuana remains
classified as a Schedule I controlled substance by the Drug
Enforcement Agency (the
"DEA"), and the U.S.
Department of Justice (the "DOJ"), and therefore it is illegal to
grow, possess and
consume cannabis
under federal law. The CSA bans cannabis-related businesses; the
possession,
cultivation and
production of cannabis-infused products; and the distribution of
cannabis and products
derived from it.
Furthermore, the U.S. Supreme Court has confirmed that the federal
government has
the
right to regulate and criminalize cannabis, including for medical
purposes, and that federal law
criminalizing the use
of cannabis preempts state laws that legalize its use.
Under
the Obama Administration, the DOJ previously issued memoranda,
including the so-called "Cole
Memo"
on August 29, 2013, providing internal guidance to federal
prosecutors concerning enforcement
of
federal cannabis prohibitions under the CSA. This guidance
essentially characterized use of federal
law
enforcement resources to prosecute those complying with state laws
allowing the use, manufacture
and
distribution of cannabis as an inefficient use of such federal
resources when state laws and
enforcement efforts
are effective with respect to specific federal enforcement
priorities under the CSA.
On
January 4, 2018, U.S. Attorney General Jeff Sessions issued a
written memorandum rescinding the
Cole
Memo and related internal guidance issued by the DOJ regarding
federal law enforcement
priorities involving
marijuana (the "Sessions Memo"). The Sessions Memo instructs
federal prosecutors
that
when determining which marijuana-related activities to prosecute
under federal law with the DOJ's
finite
resources, prosecutors should follow the well-established
principles set forth in the U.S. Attorneys'
Manual
governing all federal prosecutions. The Sessions Memo states that
"these principles require
federal prosecutors
deciding which cases to prosecute to weigh all relevant
considerations, including
federal law
enforcement priorities set by the Attorney General, the seriousness
of the crime, the
deterrent effect of
criminal prosecution, and the cumulative impact of particular
crimes on the
community." The
Sessions Memo went on to state that given the DOJ's
well-established general
principles, "previous
nationwide guidance specific to marijuana is unnecessary and is
rescinded,
effective
immediately."
It is unclear
at this time what impact the Sessions Memo will have on the
cannabis industry. In addition,
pursuant to the
current omnibus spending bill previously approved by Congress, the
DOJ is prohibited
from
using funds appropriated by Congress to prevent states from
implementing their medical-use
cannabis laws. This
provision, however, is currently set to expire on March 23, 2018,
and there is no
assurance that
Congress will approve inclusion of a similar prohibition on DOJ
spending in the
appropriations bill
for 2018.
Forward-Looking
Statements
This
press release contains forward-looking statements. All statements
other than statements of
historical facts
included in this press release are forward-looking statements. In
some cases, forwardlooking
statements can be
identified by words such as "believe," "expect," "anticipate,"
"plan,"
"potential,"
"continue" or similar expressions. Such forward-looking statements
include risks and
uncertainties, and
there are important factors that could cause actual results to
differ materially from
those
expressed or implied by such forward-looking statements. Investors
are encouraged to review the
Company's filings
with the OTC Markets Group. Investors should not place any undue
reliance on
forward-looking
statements since they involve known and unknown, uncertainties and
other factors
which
are, in some cases, beyond the Company's control which could, and
likely will, materially affect
actual
results, levels of activity, performance or achievements. Any
forward-looking statement reflects
the
Company's current views with respect to future events and is
subject to these and other risks,
uncertainties and
assumptions relating to operations, results of operations, growth
strategy and
liquidity. The
Company assumes no obligation to publicly update or revise these
forward-looking
statements for any
reason, or to update the reasons actual results could differ
materially from those
anticipated in these
forward-looking statements, even if new information becomes
available in the
future. The contents
of any website referenced herein are not incorporated into this
press release.
Contact:
Stavros
Triant
Golden
Developing Solutions, Inc.
Chief
Executive Officer
striant@outlook.com