Creso Pharma (ASX:CPH) shares up 30pc amid speculation on U.S. cannabis bill

Creso Pharma (ASX:CPH) shares up 30pc amid speculation on U.S. cannabis bill

Health Care

ASX:CPH MCAP $68.84M

· Creso Pharma's (CPH) shares are up 30 per cent as the U.S. House of Representatives passes a bill to decriminalise cannabis at a national level

· The House passed the Marijuana Opportunity Reinvestment and Expungement (MORE) Act to remove cannabis as an illegal substance from the US Controlled Substances Act

· The bill made it through the lower chamber 228 to 164 on December 4 but will need to pass in the senate to become federal law

· While the bill is not guaranteed to pass in the senate, it marks a significant milestone for the cannabis industry

· Creso's shares are up a comfortable 30 per cent, trading at 13 cents

Creso Pharma's (CPH) shares are up 30 per cent as the U.S. House of Representatives passes a bill to decriminalise cannabis at a national level.

The House passed the Marijuana Opportunity Reinvestment and Expungement (MORE) Act to remove cannabis as an illegal substance from the US Controlled Substances Act.

MORE aims to effectively decriminalise marijuana on a national level by erasing certain federal convictions.

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