XEBRA Brands Inc Applauds President-Elect Claudia Sheinbaum's Stance on Cannabis Reform and Looks Forward to Collaboration for Industry Growth
VANCOUVER, BC / ACCESSWIRE / June 4, 2024 / Xebra Brands Ltd. ("Xebra" or the "Company") (XBRA:CSE)(XBRAF:OTCQB)(9YC0:FSE), XEBRA Brands Inc, an evolving player in the cannabis and hemp industry, welcomes and congratulates President-Elect Claudia Sheinbaum on her recent victory in the Mexican election. As the new leader of Mexico, Sheinbaum's commitment to progressive cannabis reform aligns with XEBRA's vision for a more inclusive and responsible cannabis landscape.
President-Elect Sheinbaum has been a vocal advocate for decriminalizing recreational cannabis use, emphasizing the need to prioritize education and public health over punitive measures. Her stance reflects a deep understanding of the ineffectiveness and harm caused by current policies, particularly to young people. In her own words, "It's a right," and penalizing marijuana use disproportionately affects vulnerable segments of society.
"We are thrilled to see President-Elect Sheinbaum's dedication to reforming cannabis policies in Mexico," said Rodrigo Gallardo, CEO of XEBRA Brands Inc. "Her vision for a well-structured regulatory framework that benefits society aligns with our values. We believe that responsible cannabis regulation can contribute to social justice and violence reduction, and we look forward to collaborating with President-Elect Sheinbaum's administration to make this vision a reality."
Xebra Brands remains committed to working with the Cofepris and other governing bodies that regulate cannabis within Mexico. We believe that together, we can achieve significant strides in ensuring that the legal population of Mexico has access to safe, regulated cannabis products.
As we move forward, Xebra Brands will continue to uphold our dedication to quality, safety, and innovation in the cannabis industry and emphasize the importance of programs that prioritize the protection of individuals and communities, rather than penalizing and prosecuting them for cannabis use.
"We see tremendous potential for growth in the Mexican cannabis and hemp industry by working together under President-Elect Sheinbaum's leadership and with the COFEPRIS," added Rodrigo Gallardo. "With the right regulatory framework and support for responsible practices, we believe that Mexico can become a global leader in the cannabis and hemp sector. XEBRA is ready to invest, innovate, and collaborate to make this vision a reality."
XEBRA Brands Inc looks forward to working with President-Elect Claudia Sheinbaum and her administration as they work towards creating a more equitable and prosperous industry in Mexico.
Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, these include, without limitation, statements regarding Xebra Brands Ltd.'s expectations in respect of its ability to successfully execute its business plan or business model, the ability to obtain necessary approvals in connection with the Debt Settlement; its ability to enter into and execute partnerships or joint venture opportunities on acceptable terms; its ability to provide economic, environmental, social, or any benefits of any type in the communities it operates in or may operate it in the future; its ability to be a first mover in a country, or to obtain or retain government licenses, permits or authorizations in general, or specifically in Mexico, Canada, or elsewhere, including cannabis authorizations from the Mexican Health Regulatory Agency (COFEPRIS); its ability to satisfy the conditions of authorizations granted by COFEPRIS; its ability to successfully apply for, obtain and retain trademarks and other intellectual property in any jurisdiction; its ability to be cost competitive; its ability to commercialize, cultivate, grow, or process hemp or cannabis in Mexico, Canada, or elsewhere and related plans and timing; its ability to manufacture, commercialize or sell its CBD products,, wellness products, or other products in Mexico, Canada, or elsewhere, and its related plans and claims, including market interest and availability; its ability to create wellness products that have a therapeutic effect or benefit; plans for future growth and the direction of the business; plans to increase product volumes, the capacity of existing facilities, supplies from third party growers and contractors; expected growth of the cannabis industry generally; management's expectations, beliefs and assumptions in general, including manufacturing costs, production activity and market potential in Mexico or any jurisdiction; events or developments that Xebra expects to take place in the future; general economic conditions; and other risk factors described in the MD&A of the Company for the period ended November 30, 2023. All statements, other than statements of historical facts, are forward-looking information and statements. The words "aim", "believe", "expect", "anticipate", "contemplate", "target", "intends", "continue", "plans", "budget", "estimate", "may", "will", and similar expressions identify forward-looking information and statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Xebra as of the dates of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to, the inability of Xebra to retain the authorizations granted by COFEPRIS, failure to receive required regulatory approvals for securities offerings, the inability to generate sufficient revenues or to raise sufficient funds to carry out its business plan; changes in government legislation, taxation, controls, regulations and political or economic developments in various countries; risks associated with agriculture and cultivation activities generally, including inclement weather, access to supply of seeds, poor crop yields, and spoilage; compliance with import and export laws of various countries; significant fluctuations in cannabis prices and transportation costs; the risk of obtaining necessary licenses and permits; inability to identify, negotiate and complete potential acquisitions, dispositions or joint ventures for any reason; the ability to retain key employees; dependence on third parties for services and supplies; non-performance by contractual counter-parties; general economic conditions; the continued growth in global demand for cannabis products and the continued increase in jurisdictions legalizing cannabis; and the timely receipt of regulatory approvals for license applications on terms satisfactory to Xebra. In addition, there is no assurance Xebra will: be a low-cost producer or exporter; obtain a dominant market position in any jurisdiction; have products that will be unique. The foregoing list is not exhaustive and Xebra undertakes no obligation to update or revise any of the foregoing except as required by law. Many of these uncertainties and contingencies could affect Xebra's actual performance and cause its actual performance to differ materially from what has been expressed or implied in any forward-looking statements made by, or on behalf of, Xebra. Readers are cautioned that forward-looking statements are not guarantees of future performance and readers should not place undue reliance on such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those set out in such statements.
