OSL Holdings , Inc. (OTCQB:OSLH) -
July 24, 2014
Holdings' CEO Issues a Letter to Shareholders Updating Shareholders on Positive
Changes in the Legal Medical Marijuana Industry
YARDLEY, PA. July 24, 2014 -- OSL Holdings (OTCQB:
OSLH) ("OSL" or "the
Company"), a socially conscious business model dedicated to consumer advocacy,
social activism and the advancement of civil liberties through the power of
commerce, today released a letter to its shareholders from its CEO, Bob
Since my last letter to shareholders, issued two months ago on May 23, 2014,
there have been significant changes in the legal medical marijuana industry.
Those changes, we feel, have created additional enterprise value for OSL
Holdings and continue to validate OSL Holdings’ business model. These
progressive regulatory developments and changes, at the state and federal level,
have inspired OSL Holdings to refine its mission to enter the legal medical
marijuana markets when federal law permits.
OSL Holdings Inc. is company predicated on a socially conscious business model
dedicated to consumer advocacy, social activism and the advancement of civil
liberties through the power of commerce. OSL specializes in serving affluent,
liberal and libertarian consumer groups, a constituency that responds to cause
marketing and activism. This mission is the
foundation for the work OSL Holdings does through OSL Medical Services, a wholly
owned subsidiary of OSL Holdings.
OSL Medical Services is a development platform centered on the development and
financing of indoor gardens and cultivation facilities, production technologies,
and merchandise and operational services for businesses in the herbal and
supplement industry. OSL Medical Services is designed to support its clients
with branding, technology, marketing, logistics, and future planning services on
a state-by-state basis throughout the United States. The company will deliver
services in five areas: 1) Production, growing and genetics; 2) Warehousing and
logistics; 3) Retail and operations; 4) Marketing and sales; 5) Franchising and
OSL Medical Services will provide these support services in compliance with all
federal, state and local laws. At this time, OSL will not grow or sell
marijuana, but intends to gain market share and create value for its
shareholders by creating, marketing, and licensing brands as well as acquiring
and licensing production technology. When federal law permits, OSL Medical
Services will provide these services to legal and licensed growers and
We are excited about the changes taking place across America. I would like to
take this opportunity to share a few of the recent developments in the legal
medical marijuana industry with a view of sharing the scope of the potential
that exists for OSL Holdings.
On May 29, 2014, The House voted to block the DEA from targeting medical
marijuana. An appropriations amendment offered by Rep. Dana Rohrabacher (R-Calif.)
prohibiting the DEA from spending funds to arrest state-licensed medical
marijuana patients and providers passed 219-189. The Senate will likely consider
its own appropriations bill for the DEA, and the House amendment would have to
survive a joint conference before it could go into effect.
Rep. Sam Farr (D-Calif.) co-sponsored the amendment with Reps. Rohrabacher, Don
Young (R-Alaska), Earl Blumenauer (D-Ore.), Tom McClintock (R-Calif.), Steve
Cohen (D-Tenn.), Paul Broun (R-Ga.), Jared Polis (D-Colo.), Steve Stockman
(R-Texas), Dina Titus (D-Nev.), Justin Amash (R-Mich.) and Barbara Lee (D-Calif.).
"The conflicting nature of state and federal marijuana laws has created an
untenable situation," Blumenauer said prior to the House debate. "It's time we
take the federal government out of the equation so medical marijuana business
owners operating under state law aren't living in constant fear of having their
doors kicked down in the middle of the night."
Also on May 29, 2014 Minnesota’s Democratic governor Mark Dayton signed
legislation that set up a medical marijuana program with tight controls over
qualifying conditions and the way it is administered
"I pray it will bring to the victims of ravaging illnesses the relief they are
hoping for," Dayton said in a written statement.
Florida Governor Rick Scott followed suit on June 16, 2014 by signing a law
allowing for the limited use of a special strain of marijuana to treat epileptic
seizures and other diseases. State lawmakers passed the measure this spring with
bipartisan support after impassioned appeals from parents seeking access to the
form of marijuana known as "Charlotte's Web," named for a Colorado girl whose
epileptic seizures have shown some response to the drug.
"As a father and grandfather, you never want to see kids suffer," Scott, a
Republican, said in a statement. "I am proud to stand today with families who
deserve the ability to provide their children with the best treatment
And, on July 7, 2014, Governor Andrew Cuomo signed a medical marijuana bill into
law, making New York the twenty-third state to allow legal access to medical
marijuana for seriously ill patients.
At a press conference in Albany, Cuomo said he and legislative leaders had
reached a deal to legalize the use of the drug for medical purposes. The
Compassionate Care Act, the governor said, will make medical marijuana
accessible to patients suffering from certain diseases, including AIDS,
epilepsy, multiple sclerosis, glaucoma and cancer.
On July 9, 2014, Washington State became the second state in the union to
legalize recreational marijuana. Despite fewer than 10 shops opening across the
state and concerns about a possible shortage of legal marijuana, the handful of
open shops were met with throngs of exuberant shoppers.
Even our nation’s capital has thrown its proverbial hat in the ring. Thousands
of residents of Washington, D.C. have signed a petition calling for the nation's
capital to join Colorado and Washington State in legalizing recreational
The petition, submitted Monday by the D.C. Cannabis Campaign to the D.C. Board
of Elections, bears 58,000 signatures, more than twice the number needed to put
a marijuana legalization initiative on the ballot in November. The board is
expected to rule on the validity of the signatures by the middle of August.
The proposed law would allow adults to possess up to two ounces of pot and would
permit the cultivation of up to six marijuana plants at home. It would not
legalize the sale of marijuana, because a current law bars D.C. voters from
doing so via ballot initiative. The D.C. Council, however, is considering a bill
that would essentially undermine that law by allowing the District to tax and
regulate commerce in marijuana.
Legal marijuana businesses scored big on July 16, 2014. In a historic vote the
U.S. House passed a bipartisan amendment by Representatives Heck (D-WA),
Perlmutter (D-CO), Lee (D-CA) and Rohrabacher (R-CA) preventing the Treasury
Department from spending any funding to penalize financial institutions that
provide services to marijuana businesses that are legal under state law. The
amendment passed 231 to 192. This opens the door to credit card companies
finally working with legal medical marijuana businesses.
OSL Holdings remains dedicated to advancing the rights of patients in need of
legal access to cannabis-based medicines and entering the legal marijuana market
when appropriate. OSL Holdings supports the decriminalization of medical
marijuana while remaining compliant with local and state laws governing the use,
sale and distribution of legal medical marijuana. OSL Holdings is committed to
supporting consumers who suffer from illnesses best managed and treated by the
use of medically recommended and legally obtained medical marijuana.
The future for our Medical Services business, and our future entrance in the
legal medical market, continues to look bright. We look forward to growing and
capturing more of this exciting and historic market.
Thanks for taking a moment to read this letter, and thank you for being a part
Bob Rotherberg, CEO
OSL Holdings, Inc.
OSL Holdings (OTC: OSLH) is a development and technology company specializing in
affluent, liberal markets with high disposal income. The Company intends to
operate a real-time loyalty rewards platform that can facilitate the earning and
redemption of rewards currency at the point of the transaction (online, mobile,
at retail) as well as on future transactions. OSL Holdings' target consumers are
highly educated, respond to cause marketing initiatives and socially conscious
business models, and are technologically savvy. On March 10, 2014, the Company
announced its intent to enter the legal marijuana market when federal law
permits, providing foundational work for branding, marketing, technology, and
logistics to existing or emerging legal marijuana licensees.
The Company's filings with the SEC are available at http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001329957&owner=exclude&count=40.
For more information, please visit the Company's website at www.oslholdings.com.
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OSL Holdings Inc. (OSLH)
Dobson Media Group
SOURCE: OSL Holdings Inc.
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