PALM BEACH, Florida, May 2, 2019 /PRNewswire/ -- When companies find a product where demand is outpacing the supply, they have to find a better way to increase output, for CBD farm operations, it is either adding more acreage, or finding better ways to cultivate (such as greenhouses). Many outdoor farmers are turning to replacing their existing crops with CBD producing plants. The greenhouse operations generally produce a better quality crop and they are growing by erecting more greenhouses and acquiring cultivation companies. But the outdoor farmers are driven by the increased revenues they can get from switching to a CBD producing crop. An article on CCN's website discussed this trend, saying: "Farmers across the United States have been rushing into hemp ever since President Donald Trump signed the Farm Bill into law in December (2018). The legislation removed hemp from the government's controlled drug category, triggering a surge in demand for cannabidiol, or CBD, a chemical that is derived from hemp and marijuana plants. Farms that were already growing hemp are seeing both demand and profits surge, while farmers who have never grown hemp before are rushing to plant it in their fields. Active companies in the cannabis industry includes: CROP INFRASTRUCTURE CORP. (CSE:CROP) (OTC:CRXPF), Curaleaf Holdings, Inc. (CSE: CURA), Namaste Technologies Inc. (TSX-V: N) (OTC: NXTTF), Valens GroWorks Corp. (CSE: VGW) (OTC: VGWCF), Tilray, Inc. (NASDAQ: TLRY).
When companies find a product where demand is outpacing the supply, they have to find a better way to increase output, for CBD farm operations, it is either adding more acreage, or finding better ways to cultivate (such as greenhouses). Many outdoor farmers are turning to replacing their existing crops with CBD producing plants. The greenhouse operations generally produce a better quality crop and they are growing by erecting more greenhouses and acquiring cultivation companies. But the outdoor farmers are driven by the increased revenues they can get from switching to a CBD producing crop. An article on CCN's website discussed this trend, saying: "Farmers across the United States have been rushing into hemp ever since President Donald Trump signed the Farm Bill into law in December (2018). The legislation removed hemp from the government's controlled drug category, triggering a surge in demand for cannabidiol, or CBD, a chemical that is derived from hemp and marijuana plants. Farms that were already growing hemp are seeing both demand and profits surge, while farmers who have never grown hemp before are rushing to plant it in their fields.
CROP INFRASTRUCTURE CORP.
(CSE:CROP) (OTCPK:CRXPF) (Frankfurt: 2FR)
CROP announced today that its first Oklahoma farm's tenant, Hempire Oklahoma has been issued Medical Cannabis Cultivation and processing licenses at its 1 acre location in Purcell, Oklahoma where the company will focus on high grade flower and extraction. This is a separate location to the company's 20-acre property that is currently being readied for tenant planting for the 2019 season.
CROP continues to review several existing retail locations to acquire, as well identifying new locations that would be suitable for retail that the company would prepare applications for potential licensed tenants. The company believes with its experience and organic CROP SAFE methodology that it could disrupt the Oklahoma market by providing tenants with the means to produce lower cost high, yet higher quality products. CROP has agreed to fund up to $500,000 USD for the initial start-up of capital for the multiple cultivation and retail locations.
CROP CEO, Michael Yorke, stated: "Oklahoma is a key part of our overall strategy of siting operations on prime land in different, but suitable geographic locations within the US to introduce our tenants, brand portfolio and brand partners to new markets." 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:
Curaleaf Holdings, Inc.
(CSE: CURA.CN) (OTCQX: CURLF) a leading vertically integrated cannabis operator in the United States, recently announced it has signed a definitive agreement to acquire the state-regulated cannabis business of Cura Partners, Inc. ("Cura"), owners of the Select brand, in an all-stock transaction valued at C$1.27 billion or US$948.8 million. The acquisition includes Select's manufacturing, processing, distribution, marketing and retailing operations and all adult-use cannabis products marketed under the Select brand name, including all intellectual property. Based in Portland, Oregon, Select is the most well-known cannabis wholesale brand in the country. With its THC products sold in more than 900 retailers, it is the leading cannabis brand in key Western states, including California, Arizona, Oregon and Nevada.
The highly complementary acquisition brings together two of the strongest cannabis brands, Curaleaf and Select, to offer a full-range of products across the U.S. The combination will provide immediate geographic diversification with Curaleaf's footprint on the East Coast and Select's brand strength on the West Coast.
Namaste Technologies Inc. (TSX-V: N.V) (OTCQB: NXTTF) recently provided a second bi-weekly default status report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). In its initial default announcement of April 2, 2019 (the "Default Notice"), the Company announced the delay in the filing of its audited annual financial statements for the fiscal year ended November 30, 2018 (the "2018 Annual Financial Statements"), the accompanying management's discussion and analysis and the related CEO and CFO certifications (collectively, the "Annual Filings") by the filing deadline of April 1 , 2019. The Company subsequently provided a bi-weekly default status report on April 15 , 2019. The Company continues to anticipate that its interim financial statements for the three month period ended February 28, 2019 , the accompanying management's discussion and analysis and the related CEO and CFO certifications will not be filed by the filing deadline, and will be filed after the Annual Filings are completed and filed.
Valens GroWorks Corp. (CSE: VGW.CN) (OTCQB: VGWCF) a multi-licensed, vertically integrated provider of cannabis products and services focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing recently announced that it is the first third party cannabis extraction company in Canada to receive organic certification for cannabis oil production from Pro-Cert Organic Systems Ltd. for its proprietary CO2 and ethanol extraction processing methods in accordance with the Canadian Organic Standards.
The certification gives Valens the ability to produce certified organic cannabis oil from hemp and cannabis biomass that is organically cultivated and certified. Valens will now be able to immediately begin offering certified organic cannabis oil processing to The Green Organic Dutchman Holdings Ltd. from their certified organic cannabis and hemp under the multi-year extraction agreement announced March 11th, 2019.
Tilray, Inc. (NASDAQ: TLRY) High Park Holdings Ltd. ("High Park"), a wholly-owned subsidiary of Tilray, Inc., recently announced that it has received an amendment to its standard processing license under the Cannabis Act. The amended license allows High Park to sell finished cannabis products from its state-of-the-art facility in London, Ontario to provincially and territorially authorized distributors and retailers in Canada.
Led by a team of industry experts responsible for innovation, research and the development of High Park's portfolio of cannabis products, the High Park London facility was commissioned to develop, process and sell a wide-range of finished branded products under current and future regulations, including edibles (such as confectioneries and beverages), topicals, and concentrates, exclusively for the adult-use cannabis market in Canada.
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