PALM BEACH, Florida: Now that more than 30 states have passed some level of legislative approvals for the industry, a sigh of relief was recently realized as the World Anti-Doping Agency removed CBD, an anti-inflammatory compound derived from cannabis, from its 2018 prohibited substances list.
This and other factors are contributing to continued growth across the industry. According to Brightfield Group , data sales of marijuana-derived CBD are expected to hit $176 million and hemp-derived CBD will hit $291 million in 2017, for a total CBD market of $467 million. Hemp and Cannabis Companies in the news today include: Hemp, Inc. (OTC: HEMP), Marijuana Company of America Inc. (OTC: MCOA), CV Sciences Inc. (OTC: CVSI), 22nd Century Group Inc. (NYSE: XXII) and Cannabis Wheaton Income Corp. (OTC: KWFLF) (TSX-V: CBW)
Hemp, Inc. (OTC: HEMP) a global leader in the industrial hemp industry with the largest hemp mill in the western hemisphere, announced today that the Company's role in supporting hemp production and manufacturing in North Carolina was recently featured in an October 7, 2017 Huffington Post article titled "Hemp Inc. Pioneers Industrial Hemp Revolution With North America's Largest Industrial Hemp Processing Facility". This indicates the company has positioned itself on the frontlines of America's hemp revolution.
The Huffington Post article states that Hemp, Inc. "is quickly emerging as a pioneering force in what could be the next great industrial revolution." The article also cited that, "All combined, Hemp Inc. is now clearly positioned to be a major player in America's $1 billion hemp CBD product market, and it would not be surprising to start seeing buyout speculation with respect to the company's operational facilities. HEMP's NuAxon Tech CO2 Supercritical Extractor is viewed as an expensive process within the industry, and the big reward behind it is a superior end-product that is potent and safe. The company's 70,000 square-foot Spring Hope, North Carolina industrial hemp processing facility is the only one of this magnitude in North America. All of this creates a huge competitive advantage within the popular marketplace."
Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP) said, "Actually, our multipurpose industrial hemp processing facility in Spring Hope, NC has expanded to 85,000 square feet. The resounding message of this Huffington Post article, that our Company is a 'pioneering force' in America's hemp marketplace, reflects our commitment to transparency and mission to help farmers capture the financial benefits of cultivating these valuable and sustainable crops." He continued, "As we outlined earlier this week, in a previous press release, we have 5 core infrastructures that we built and have been using... Industrial Hemp Manufacturing and Processing; Hemp Oil Extraction; Hemp Farming; Hemp Education; and, Marketing. These core infrastructures have created a strong platform for growth, now and into the future."
"We are happy to see the scope and scale of our operations in North Carolina recognized by prominent publications such as Huffington Post. We are always seeking opportunities to educate the public and Hemp, Inc.'s shareholders about the latest developments taking shape at Hemp, Inc.," said David Schmitt, COO of Hemp, Inc.'s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC. "Our 85,000 square foot facility in Spring Hope, North Carolina, establishes us as a leader in the space and is putting North Carolina on the forefront of this new industry."
In the industry developments and happenings in the market this week include:
Marijuana Company of America Inc. (OTC: MCOA) and Global Hemp Group (CSE:GHG)(OTC:GBHPF), announced this week that they have jointly entered into a letter of intent with Space Cowboys, Inc. for the purposes of forming a joint venture. Space Cowboys is an existing fully licensed and compliant hemp-derived cannabinoid producer in Colorado. Pursuant to the terms of the letter of intent and subject to the Companies obtaining sufficient financing, the Companies will invest US$2.5 Million in exchange for a 25% equity interest in Space Cowboys. The investment funds will be used to expand Space Cowboys' cultivation operation. Space Cowboys is in its fourth year of operation and is in full compliance with Colorado state law and the Colorado Department of Agriculture. The business consists of both indoor and outdoor cultivation of highly concentrated CBD hemp on properties located in Longmont and Loveland, Colorado. Space Cowboys' current hemp crops will be harvested in the latter part of October and prepared for extraction of the high-value cannabinoids.
CV Sciences Inc. (OTCQB: CVSI) also announced this week that its industry-dominating brand of hemp-derived cannabidiol (CBD) oil finished products, PlusCBD Oil, will be exhibiting at the Academy of Integrative Health & Medicine (AIHM) Annual 2017 Conference, held on October 22-25, 2017 at Paradise Point Resort & Spa in San Diego, California. This will be the Company's third time exhibiting at this forward-thinking healthcare Conference and Expo. Known as "The Integrative Health & Medicine Conference of the Year," AIHM Conference brings together over 1,100 doctors, health clinicians, researchers and students to learn from visionaries in the field of integrative health, earn continuing education credits and network with like-minded professionals. This community-centric conference features lectures, panels, small group discussions, workshops, evening events and experiential programs. Over the last three years, CV Sciences' consumer products division has focused on distributing their PlusCBD Oil brand to healthcare providers nationwide.
22nd Century Group Inc. (NYSE: XXII) announced on Wednesday that the Company has closed a registered direct common stock offering with institutional investors to receive approximately $54 million in gross proceeds through the sale of 20.57 million shares of common stock at a price of $2.625 per share. The net proceeds of the financing will be used for general corporate purposes, including working capital, as the Company enters licensing and strategic partnership discussions with major tobacco companies around the world. 22nd Century is a plant biotechnology company focused on genetic engineering and modern plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis plants.
Cannabis Wheaton Income Corp. (OTC: KWFLF) (TSX-V: CBW.V) closed up over 10% on Wednesday on the OTC Market with over 1 million shares traded by the market close and up 10% at $0.99 on the TSX Venture trading over 2.7 Million shares by the market close. Cannabis Wheaton Income Corp. operates as a cannabis streaming company. It provides funding for cannabis facility expansions, operations, and initial construction in exchange for minority equity interests and a portion of the cultivation production.
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