LiveWire Ergogenics (OTC: LVVV) is diligently watching the progress of the SAFE Banking Act, which would permit banks and credit unions to offer financial services to legal cannabis businesses once passed by the Senate. A recent article discussing the company reads, “In December 2018 the U.S. Farm Bill was passed, which de-scheduled hemp as a Schedule 1 drug, although the use, sale and possession of cannabis with over 0.3 percent THC remains illegal under Federal law. Despite that reclassification, most financial institutions continue to avoid providing services to businesses operating in the cannabis space. . . . The Secure and Fair Enforcement (SAFE) Banking Act of 2019, HR19-1595, could change that. The bill was passed by the House of Representatives in September and then sent to the Senate, where it was referred to the Committee on Banking, Housing and Urban Affairs. According to the official summary by the Congressional Research Service, the SAFE Banking Act prohibits federal banking regulators from punishing a financial institution for offering financial services to a legal marijuana-related business. . . . Passage of the SAFE Banking Act in the Senate and signing of the bill by the President will open access to broad financial services in the multibillion-dollar marijuana industry (http://cnw.fm/h8HqV) and would clearly give legal and vertically integrated operators such as LiveWire a significant boost.”
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About LiveWire Ergogenics Inc.
LiveWire Ergogenics, Inc. (LVVV) specializes in identifying and monetizing current and future trends in the human and veterinary health and wellness industry. The company is focused on acquiring, managing and licensing specialized “closed loop” turnkey cannabis real estate locations of fully compliant and permitted turnkey facilities to produce cannabis-based products and services in California and the state-wide distribution of these products. This includes verification of zero pesticide products for quality brands via its “7X Pure” Cannabis Verification System, the development, licensing and distribution of legal and high-quality cannabinoid-based products and services and the creation of the high-quality “Estrella Weedery” brand. LiveWire Ergogenics does not produce, sell or distribute products that are in violation of the United States Controlled Substance Act. For more information, visit the company’s website at www.LiveWireErgogenics.com.
NOTE TO INVESTORS: The latest news and updates relating to LVVV are available in the company’s newsroom at http://cnw.fm/LVVV
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