American Cannabis Company Inc. (OTC: AMMJ), a full service cannabis consultant and provider of proprietary products to the industry, recently announced that it has joined the Association of Responsible Cannabis Public Companies (“ARCPC”) as one of three inaugural members. The non-profit association aims to promote investor accountability within the industry.
“Our company is pleased to be an initial member of the ARCPC,” said American Cannabis Company Inc. CEO Corey Hollister. “We recognize that our corporate values sync with ARCPC’s mission and, by joining the ARCPC, we hope to benefit all our shareholders and show the public that the cannabis industry has a strong segment of solid, responsible companies.”
The non-profit association helps public companies in the space demonstrate high standards when it comes to corporate governance and investor accountability. In addition to American Cannabis Company Inc., CannLabs Inc. (OTC: CANL) and Heliospectra Inc. (OTC: HLSPY) have joined the organization as the three inaugural members as it works to expand.
The ARCPC Board of Directors consists of prominent Wall Street and cannabis-industry professionals, including Doug Leighton of Dutchess Capital, Emily Paxhia of Poseidon Asset Management, Alan Brochstein of 420 Investor, and Frank Lane of CannabisFN. Membership is open to all publicly-traded cannabis companies that qualify under its Code of Practice found on its website.
“This is a crucial period for publicly-traded cannabis industry companies,” said CannabisFN’s Frank Lane, a Board Member. “While the industry develops through its incipient phase, it is essential that the investment community develops confidence in its formation. The ARCPC hopes to shine the light of day on the marijuana index and validate this growth industry.”
Shares of American Cannabis Company Inc. jumped more than 6% on Thursday, December 11, 2014 following the news release.
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