Global Hemp Group, Inc. Well Positioned to Capture Market Share in the Industrial Hemp Industry
Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) is positioned for growth this year in the rapidly expanding industrial hemp industry. The company seeks to take full advantage of the proposed changes to Canadian legislation expected in 2018 that will permit cannabidiol (CBD) extraction from industrial hemp. Health Canada is currently consulting industry representatives regarding the regulations that will accompany the new cannabis legislation expected by July 1, 2018.
According to a Forbes article last year, “Hemp-derived cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group. The data company estimates that hemp CBD sales have already hit $170 million in 2016 and a 55% compound annual growth rate over the next five years will cause the market to crack the billion-dollar mark.”
On September 5, 2017, GHG announced a joint venture to develop commercial hemp production on the Acadian peninsula of New Brunswick, Canada. The company completed the trials and at the end of 2017, and along with its joint venture partner Marijuana Company of America, Inc. they concluded the first industrial hemp trials in the northeast region of New Brunswick, Canada in 20 years.
In further news GHG’s industrial hemp license was renewed for 2018 but under current legislation, hemp flowers and leaves grown under field conditions cannot be processed. It is expected that this will be allowed under new 2018 regulations, but will still require additional licenses: one to extract the CBD and another to sell CBD for medical or non-medical purposes.
In anticipation of this change, GHG has announced that it will be applying for a license under the Narcotics Control Regulations (NCR) to extract CBD, and an additional license under the Access to Cannabis for Medical Purposes (ACMPR) to sell it to wholesale and retail customers in Canada.
According to Buckeye Business Review
Gross Margin Score
The Gross Margin Score is calculated by looking at the Gross Margin and the overall stability of the company over the course of 8 years. The score is a number between one and one hundred (1 being best and 100 being the worst). The Gross Margin Score of Global Hemp Group Inc. (CNSX:GHG) is 50.00000. The more stable the company, the lower the score. If a company is less stable over the course of time, they will have a higher score.