PALM BEACH, Florida, Jan. 7, 2019 /PRNewswire/ —
While Canadian hemp/CBD farming operations have had a head start on their U.S. counterparts, the 2018 Farm Bill which took effect on January 1, 2019, will give U.S. farming operations a much-needed boost. FORBES recently published an article covering the hemp market: “Legal Hemp In 2019 May Be A Boon For Stressed Out American Farmers .” The article went on to discuss that because of the Farm Bill “Legal hemp is about to enter the American scene in a big way… The stroke of that pen unleashes a potential economic dynamo for American farmers… It cannot be overstated how beneficial this plant could be for U.S. farmers in the coming years. As the agricultural landscape of America evolves – creating challenges for farmers ranging from flagging industries like tobacco and dairy to climate change and the ongoing Chinese tariff situation affecting soybean sales – a more sustainable domestic crop is essential. Active companies in the cannabis industry includes: CROP INFRASTRUCTURE CORP. (CSE:CROP) (OTC: CRXPF), Aphria Inc. (NYSE: APHA) (TSX:APHA) HEXO Corp. (OTC: HYYDF) (TSX:HEXO), Terra Tech Corp. (OTC: TRTC), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX:TGOD).
In another FORBES article, “We Should Be Pouring Time And Money Into Hemp, Period“, it was pointed out that growing hemp to extract the non-intoxicating CBD can be described as an industrial ‘miracle’ plant: “All told, a strong American hemp industry could provide billions of dollars in renewable revenues and hundreds of thousands of jobs, especially in regions that have been devastated by damaging and/or departed industries and under-invested social resources… hemp is already poised to outshine recreational and medical cannabis production, and that CBD products (which hemp can provide) are currently outselling THC products at a rate of 10:1.
CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTCPK: CRXPF) (Frankfurt: 2FR) announced today its 49% owned subsidiary Elite Ventures is nearing completion of a 1,600 square foot genetics, tissue culturing and micropropagation laboratory at the company’s Nevada Farms. The objective of the team and the lab will be to provide 10,000,000 plant starts for the company’s 2,115 acres of CBD farms. By propagating in the lab, the company will save approximately $3.0 Million in seed and planting costs for the 2019 season.
The laboratory team’s objective, beyond saving on planting costs, is the mandate of developing proprietary genetics to maximize yield and provide the company a Global edge with specific attentions paid to the over 100 other photocannabinoids beginning with cannabinol (CBN) and cannabigerol (CBG).
Cannabis industry analysts, The Brightfield Group, estimate the hemp-CBD market alone could reach $22-billion by 2022. CROP CEO, Michael Yorke, stated: “The development of this genetics and micropropagation lab is further demonstration of our team’s dedication to keeping our genetics portfolio and brands at the fore front of this industry. Teams worked steadily through the later part of the year and Holiday season on the construction and development of this lab which will save the company and our stakeholders a significant amount in 2019 and beyond.” Read this full announcement and more news for CROP Infrastructure at: https://www.financialnewsmedia.com/news-crop/
Additional cannabis industry related developments from around the markets:
Aphria, Inc (NYSE: APHA) (TSX:APHA) is a Canadian cannabis company as a market capitalization of over $2 billion, making it one of the largest cannabis companies in the world. APHA closed up on Friday at $6.04 trading over 3.6 Million shares on the NYSE alone by the market close. The company recently announced that its Colombian subsidiary, Colcanna SAS (“Colcanna”) has signed an exclusive agreement (the “Agreement”) with the Federación Médica Colombiana (“FMC”), a national guild that oversees the ethical exercise of the medical profession in Colombia , to jointly develop an academic curriculum on the medicinal use of cannabis. “Education in the medical community is critical for sustaining the advancement of medical cannabis in Colombia,” said Gabriel Meneses, Vice President, LATAM & Caribbean at Aphria.
HEXO Corp. (OTCPK:HYYDF) (TSX:HEXO) recently reached a construction and licensing milestone with the first phase of its 1 million sq. ft. greenhouse expansion. The expansion is ready and licensed on time and on budget for plants to move in. “Receiving initial licensing on our 1,000,000 sq. ft. facility is a huge accomplishment for the entire HEXO team. We are proud that the construction project is hitting all its milestones while respecting aggressive timelines and staying on budget. The new production facility allows us to continue to scale-up which, once fully operational, will give customers across Canada access to HEXO products,” said Sébastien St. Louis, HEXO Corp’s CEO and cofounder. “Our team has been hard at work for the past couple of months nurturing new mother plants and preparing cuttings. We will start moving plants into the new facility with the pre-prepared mother plants and cuttings in alignment with our continuous harvest methodology.”
Terra Tech Corp. (OTCQX:TRTC) closed up slightly on Friday at $0.621 trading over 1.5 Million shares by the market close. The company announced that Mayor Pauline Cutter of San Leandro, CA will speak at Terra Tech’s grand opening of its Blüm San Leandro medical cannabis dispensary. The ribbon cutting ceremony will take place from 9:30 AM to 11:00 AMon January 11th, 2019 at the dispensary located at 1915 Fairway Drive San Leandro, CA, 94577. Terra Tech’s Blum San Leandro dispensary will make history as the first medical dispensary to open its doors in San Leandro, a prominent suburb city of San Francisco and Oakland, centered in the dynamic San Francisco Bay Area.
The Green Organic Dutchman Holdings Ltd. (OTCQX:TGODF) (TSX:TGOD.TO) recently announced that it had signed a royalty-bearing commercial sublicense (the “Agreement”) with EnWave Corporation (“EnWave”) and Tilray, Inc. (“Tilray”). EnWave has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products. EnWave and Tilray entered into an exclusive partnership in October 2017 in which EnWave named Tilray as its licensed partner (the “License”). The License grants Tilray an exclusive right to use and sub-license EnWave’s proprietary REV™ dehydration technology in Canada. Under the terms of the License, EnWave and Tilray will share royalties from TGOD’s use of EnWave’s REV™ technology on an undisclosed basis.
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