The American Seed & Oil Company Medical Cannabis Cooperative, an organization of independent hemp and marijuana cultivation organizations, was announced on Tuesday. The intent of the cooperative is that by working together, cultivators can more rapidly and soundly expand their respective operations.
American Seed & Oil Company is dedicating its previously announced $1.2 million in secured funding to The Medical Cannabis Cooperative.
"American Seed & Oil Company is committed to establishing a leadership position within the developing U.S. legal cannabis industry," said Steven Rash, CEO of Algae International, Inc. and its operating subsidiary, the American Seed & Oil Company. "We believe our investment of time, talent and resources in a Cooperative Cannabis Cultivation strategy will more rapidly expand our revenues and assets than solely investing in the construction of wholly owned cannabis cultivation operations."
"We are already piloting a number of cannabis consumer products; working to develop a number of cannabis commercial products; contributing to the effort to mature and advance legalization nationwide and at the same time investing in the infrastructure to grow and process cannabis," Rash said. "We continue to evaluate and evolve our overall approach toward all these ends.