NEW YORK, NY--(Marketwired - March 31, 2014) - Plandaí Biotechnology, Inc. (OTCQB: PLPL) has a real opportunity to advance its medical marijuana research, and in doing so, it could be one of the first publicly traded companies in the cannabis industry to reach clinical trials with the drug. While laws in the US still prohibit the advancement of research using marijuana due to its Schedule 1 classification, Plandaí's interest in using the drug to discover promising treatments may be about to come to fruition. The company may owe this unexpected opportunity to relationships it has formed on an entirely different continent.
Plandaí has its principle holdings which consist of land, farms and infrastructure, and total more than 8500 acres, in the province of Mpumalanga, South Africa. The company's estate and factory in South Africa are set up to exclusively process its Phytofare™ Catechin Complex made from the green tea grown on the land there. Because South African law prohibits the cultivation of cannabis, the topic can be just as tricky there as it is here in the US, but legislators in that country may be a bit more open to facts than Washington, DC has been to date.
And, in support of this belief, a request for ministerial dispensation or a "waiver" was recently submitted on Plandaí's behalf by Dr. Mario Oriani-Ambrosini to the Secretary of Parliament of South Africa. If granted this waiver would permit Plandaí to conduct cannabis research in that country for medicinal purposes.
Dr. Oriani-Ambrosini is a South African legislator battling terminal cancer who recently introduced legislation to permit medical marijuana research and usage that has generated a groundswell of popular support and led to the formation of the Cancer Treatment Campaign. So together, Plandaí, Dr. Oriani-Ambrosini and the Cancer Treatment Campaign have requested a "waiver" that will allow Plandaí to produce and test a cannabinoid Phytofare™ extract for human clinical trials.
The significance of this waiver should it be granted would be that Plandaí could conduct its medicinal marijuana research from South Africa while the US continues to sort out its own laws pertaining to the drug, and its approval could expedite the company's efforts dramatically.
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