NTRR: Feds Give Medical Marijuana Industry a Banking Boost
TAMPA, Fla.--(BUSINESS WIRE)--As Neutra Corp. (OTCBB: NTRR) readies new products for the fast-growing medical marijuana (MMJ) sector, the booming industry hit a new milestone on the path to normalization when the U.S. government issued new guidelines to banks aimed at making it easier for state-regulated marijuana businesses to access financial services and institutions.
“This is a thriving new market that is simply too large, too popular and too profitable to remain shut out of the banking industry. With these new rules in place, we fully expect to see growth accelerate in this sector.”
Twenty states and Washington, D.C., have legalized marijuana for medical use, with two states—Colorado and Washington—legalizing recreational use, as well. The dispensaries and other MMJ businesses have for years been forced to deal largely in cash because banks feared legal risks associated with serving them. On Friday, the U.S. government issued rules intended to increase the availability of financial services to marijuana businesses licensed and regulated by the states.
For advocates and business owners, the new guidelines come as further proof that the cannabis industry is legitimate, professional and prosperous.
“These federal guidelines are a direct result of the overwhelming demand for medicinal marijuana,” said NTRR CEO Sydney Jim. “This is a thriving new market that is simply too large, too popular and too profitable to remain shut out of the banking industry. With these new rules in place, we fully expect to see growth accelerate in this sector.”
NTRR is preparing for that growth by working to deliver innovative new products to the fast-rising MMJ marketplace. Earlier this week, NTRR acquired Diamond Anvil Designs (DA), a cutting-edge developer of smoke-free nutraceutical delivery systems that can be adapted to deliver a variety of substances, including dry herbs, oils and waxes. The lightweight, portable vapor pen represents a major breakthrough in vaporization technology thanks to customizable power levels, multi-substance vaporization capacity and best-in-class durability.
By providing innovative nutraceutical products and services such as the vaporizer pens being produced by DA, Neutra Corp. plans to follow in the footsteps of other successful public companies including Altria Group Inc. (NYSE: MO), Vitamin Shoppe (NYSE: VSI), Nutraceutical International Corp. (NASDAQ: NUTR) and mCig, Inc. (OTCBB: MCIG)
For more information on NTRR’s initiatives, please visit www.neutracorp.com.
About Neutra Corp.
Neutra Corp. is a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions, including cannabis-related products. For investing information and performance data, please visit www.neutracorp.com.
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