V7 Ogimaa, Inc. Secures First Compliant Vertical Adult Use Cannabis Consumption Lounge License in New York
V7 Ogimaa, Inc. partners with Turtle Island Corporation and the Saint Regis Mohawk Tribe
Wilmington, Delaware - March 2, 2023 (Newsfile Corp.) (Investorideas.com Newswire) V7 Ogimaa, Inc. www.v7ogimaa.com ("V7O" or the "Company") announced today that it has secured the first fully vertical adult use cannabis consumption lounge in the state of New York and in US East Coast through one of its subsidairies. The provisional vertical consumption lounge license has been issued by the Saint Regis Mohawk Tribe Cannabis Control Board (CCB).
On June 28, 2021 the Saint Regis Mohawk Tribe successfully adopted the Tribal Adult Use Cannabis Ordinance via Tribal Council Resolution (2021-33). Most recently, on January 25, 2023 the Saint Regis Mohawk Tribe amended the Adult Use Cannabis Ordinance via Tribal Council Resolution (2023-05) to allow vertically integrated Consumption Lounges.
"This day marks an important milestone, as V7O in collaboration with Turtle Island Corporation (TIC) and the Saint Regis Mohawk Tribe Cannabis Control Board (CCB) formally issue the FIRST compliant vertical adult use cannabis consumption lounge license in Indian Country, New York state, and East Coast of United States. This is monumental for the cannabis industry as whole, as we are now entering a new era of cannabis hospitality which has recently surged in the industry. Our sincere gratitude to the Saint Regis Mohawk Tribe as they continue to structure a best in class cannabis program and allow additional economic opportunities through this industry," said Victor E. Mancebo, Chairman of V7 Ogimaa, Inc.
"Forming a true partnership with V7O has been a long-term strategy for our tribal nation and exemplifies what Turtle Island Corporation is all about, which is creating opportunities within our nation for our community on a national stage," said Lance White, Founder & President of TIC.
About V7 Ogimaa, Inc.
Is a leading, vertically integrated, multi-state cannabis operator (MSO) in the US, devoted to ongoing improvement of communal wellness by providing responsible access to compliant cannabis products. With a mission to address communities that have historically been excluded from economic opportunities, more specifically, American Tribal Nations. V7 Ogimaa, Inc. is currently focused on a multi-state expansive footprint, implementing a "farm to table" approach that will include cultivation, processing, manufacturing, product retail sales, and consumption lounges. V7 Ogimaa, Inc. aims to work hand in hand with the American Tribal Nations that may welcome a compliant cannabis program within their reservation(s). For more information, please visit www.v7ogimaa.com.
About Turtle Island Corporation
TIC is a Canadian-based and privately held company, formed to capitalize on the growing legal cannabis markets and create shared economic development for Canadian First Nations and US Tribes. With its flexible structure and unique market differentiating value-proposition, TIC is positioned to not only be a First Nations cannabis brand leader in Canada and the United States.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking statements within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "believe", "plan", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, expectations related to the Company's production capabilities, expectations concerning the receipt of all necessary approvals from the Saint Regis Mohawk Tribe Cannabis Control Board, expectations concerning the opening of new consumption lounge, dispensaries and the expansion of its grow and processing space, and the Company's future expansion and growth strategies. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and adult use marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the medical and adult use marijuana industry in the United States generally, income tax and regulatory matters; the ability of V7O to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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