Acreage Holdings Supports Nation's Veterans Through VA Medicinal Cannabis Research Act of 2018

NEW YORK, May 3, 2018 /PRNewswire/ -- Acreage Holdings ("Acreage") (www.acreageholdings.com), one of the nation's largest, multi-state cannabis corporations, has announced its support for H.R.5520, the VA Medicinal Cannabis Research Act of 2018 ("Bill"). The bill, which was introduced on April 16, 2018, was introduced by House Committee on Veteran's Affairs Ranking Member Tim Walz (D-MN) with the support of Chairman Phil Roe (R-TN), the bill's leading Republican co-sponsor, and Representative Lou Correa (D-CA). If passed, the legislation would authorize the Secretary of Veterans Affairs to conduct and support research on the efficacy and safety of medicinal cannabis. The legislation will also require annual reports from the Department of Veterans Affairs (VA) to Congress on how it intends to exercise that authority once a year for the next five years.

Acreage, which announced the appointments of Former Speaker of the House John Boehner and Former Governor of Massachusetts Bill Weld to its Board of Advisors, worked with the bill sponsors to provide assistance and input during the drafting process.

Kevin Murphy, Acreage Founder and CEO said, "Acreage is committed to providing access to medicinal cannabis to those in this country who can benefit from it. I do not know of a more deserving group than our military veterans. Cannabis represents a new frontier in medicine and we need to support veterans in both access and research. Introducing this bill is a necessary step to make that happen."

Currently, the Department of Veterans Affairs is required to follow all federal laws including those regarding marijuana. As long as the Food and Drug Administration classifies marijuana as "Schedule One," VA health care providers may not prescribe or assist veterans in obtaining it.

George Allen, President of Acreage, who was recently invited to contribute on behalf of Acreage to a Medical Cannabis Roundtable by the House Veteran's Affairs Committee, added, "This bill offers a real opportunity to give our veterans what they are asking for: access and relief. Allowing the VA to conduct the necessary research is paramount to understanding all of the ways this plant can help both veterans and other patients in need around the country."

An American Legion survey released in November 2017 revealed that 92 percent of veterans support research into the efficacy of medical cannabis for mental and physical conditions and 82 percent want to have medical cannabis as a federally-legal treatment option. Currently, 39 Democrats and 11 Republican members of the House support H.R.5520.

ABOUT ACREAGE HOLDINGS
Acreage Holdings is a vertically integrated, multi-state owner of cannabis licenses and assets in states where either medical and/or adult use cannabis is legal.  Headquartered in New York City and currently operating in 11 states, Acreage owns cultivation, processing and dispensary operations and has among the largest footprints of any cannabis company in the U.S.  The company is focused on building and scaling the best-in-breed operations and creating the best consumer-focused cannabis experiences and brands in the space.

SOURCE Acreage Holdings