VANCOUVER, British Columbia, Jan. 8, 2017 /Weed Wire/ — Friday Night Inc. (Friday Night) (CSE: TGIF) (FWB: 1QF) (OTCQB: TGIFF) has issued the following statement to shareholders in response to the recent USA Department of Justice memorandum rescinding the Cole memo.
The recent memo states that the “memorandum is intended solely as a guide,” which is not a directive and leaves the enforcement decisions up to the U.S. Attorneys in their respective states, who are to decide which cases to prosecute by weighing all relevant considerations, including federal law enforcement priorities set by the Attorney-General, the seriousness of the crime, the deterrent effect of federal prosecution and the cumulative impact of particular crimes on the community.
While the recent memorandum adds uncertainty in removing the Cole memo guidelines, Friday Night believes that given the lack of direction in the memorandum and the support of the Trump administration of states’ rights, the authorities will defend the states’ rights to regulate, not criminalize cannabis. Friday Night considers it unlikely that local federal prosecutors will take action in those states where the legalization of cannabis has been implemented as a result of a majority vote of the state’s electorate or by an act of the respective state’s legislature. There may be action taken against those who are acting outside state regulations, and this type of enforcement is only beneficial to those businesses operating within local regulations.
Federal prosecutors in Colorado, Oregon and California have already made statements that have been interpreted as signalling that their practice of the enforcement of cannabis laws will not change. Their counterpart in Nevada has not yet issued a statement other than to the fact that they are reviewing the Sessions’ memo.
While the memorandum has caused concern in the industry, Friday Night does not expect any material changes to its current and future initiatives. Friday Night will continue with expansion plans within and outside of the state of Nevada, in full compliance with all applicable local regulations, in complete co-operation with the authorities, and will continue to operate current facilities and provide customers with the highest quality products they are best known for.
About Friday Night Inc.
Friday Night Inc. is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada. The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands. Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients. Friday Night Inc. is focused on strengthening and expanding these operations within and outside of the state.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com. Friday Night undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law or the Canadian Securities Exchange.