Little Green Pharma's Announcement on US Cannabis Rescheduling

Little Green Pharma Ltd (ASX: $LGP) is pleased to announce the US Drug Enforcement Administration's (DEA) recommendation to reclassify cannabis from Schedule I to Schedule III. This follows the Department of Health and Human Services' (HHS) recommendation to the DEA in August 2023, acknowledging the medical benefits of cannabis.

Executive Commentary on US Cannabis Rescheduling

The proposed rescheduling of cannabis in the US is a significant development for the global cannabis industry. It has the potential to remove s280E taxes, which currently tax cannabis operators at their gross margin level, and may lead to increased institutional interest in US cannabis stocks. This move also aligns with Germany's recent decision to legalize cannabis, indicating a broader shift in global cannabis regulation.

Summary of Little Green Pharma's Announcement

The US DEA's recommendation to reclassify cannabis from Schedule I to Schedule III marks a pivotal moment for the global cannabis industry. Little Green Pharma anticipates potential benefits such as the removal of s280E taxes and increased institutional interest in US cannabis stocks. The company remains committed to its global, vertically integrated medicinal cannabis business and aims to continue supplying medical-grade cannabis products to Australian, European, and overseas markets. Little Green Pharma is dedicated to promoting education, outreach programs, and participating in clinical investigations and research projects to develop innovative new delivery systems in the emerging global medicinal cannabis market.