CBD of Denver Comments on Italy's Cannabis Referendum

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CBD of Denver, Inc. (OTC Pink: CBDD), a full-line CBD and hemp oil company and a producer and distributor of cannabis and CBD products in Switzerland and Europe, comments on Italy's cannabis decriminalization referendum, which received the required 500,000+ signatures well ahead of the September 30 deadline to be included in the country's 2022 vote.

"This is another important milestone in the ongoing legalization trend sweeping across Europe," commented Marcel Gamma, CEO of CBD of Denver. "Our Rockflowr business already works with several clients in Italy, and we are well positioned to capitalize on a favorable vote by Italy's citizenry in 2022."

CBD of Denver is currently generating approximately US$300k in monthly revenue from 10 shops in Italy selling Rockflowr products. Italy is a very high margin market, and the Company has assigned a dedicated Rockflowr account manager to further develop this market in the coming months as its high-quality Swiss indoor flowers are very much in demand.

While cannabis consumption and medical marijuana are permissible in Italy today, it remains illegal to buy, sell or mass cultivate cannabis in the country.

Industry groups estimate potential tax revenues for the state at approximately US$8.2 billion annually should cannabis be decriminalized in Italy.

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