PALM BEACH, Florida, November 29, 2017 /PRNewswire/ --
The emerging hemp market continues to be one of the more significant facets of the marijuana industry, as industrial hemp gains a foothold on agriculture across the globe and educational programs help the public see the value in the various options hemp can provide. As operations, acquisitions, expansions and educational enlightenment advances and progress through legislation is made, experts believe the US is nearing the federal government finally removing hemp from its controlled substances list after being misaligned with marijuana for nearly a century. With this in mind, revenue forecasts are optimistic in the hemp market for the coming years. Notable companies in the headlines include: Hemp, Inc. (OTC: HEMP), Medical Marijuana Inc. (OTC: MJNA), Puration Inc. (OTC: PURA), GreenGro Technologies Inc. (OTC: GRNH), Agritek Holdings Inc. (OTC: AGTK).
Hemp, Inc. (OTC: HEMP) a global leader in the industrial hemp industry with the largest multi-purpose industrial hemp processing facility in the western hemisphere, today announced that its wholly-owned subsidiary Hemp University, LLC will hold its most vital and anticipated educational symposium of the year... Hemp Money Event: Economics, Lessons & Planning for 2018. The symposium will be held on Saturday, December 2, 2017 from 8:30am to 5:00pm EST at the Shrine Club (320 Airport Rd, Rocky Mount, NC 27804). Attendees will learn the economics of growing industrial hemp for fiber, seeds, and CBD; learn from mastery POD growers about their experiences and lessons learned; and, learn how to prepare for the 2018 industrial hemp growing season with a well-defined blueprint for success. Read this and more news for HEMP at http://www.marketnewsupdates.com/news/hemp.html
The Hemp Money Event: Economics, Lessons & Planning for 2018 is Hemp University's last event of 2017 and it's the fifth of seven certification classes. Attendees will receive 6-credits for attending this educational event. Rick Rainbolt, President of Hemp University, LLC, said, "Our goal at Hemp University, Inc. is to help individuals who are completely committed to achieving the very highest standards in this emerging and profitable industry become successful. With just 3 days left until the event, our team has worked endlessly to bring our attendees the best possible speakers, trainers and coaches. I feel this last event of the year (The Hemp Money Event: Economics, Lessons & Planning for 2018) has the strongest line-up of speakers and will be our biggest and best event of 2017 yet. Our line-up faculty of Mastery POD growers and farmers will be sharing not only their growing strategies, but also their vital mistakes, which are crucial for those individuals looking to get involved in growing industrial hemp."
According to Rainbolt, this particular educational event is designed to give attendees the "final piece" of the "Industrial Hemp Formula" to success. As noted under the coursework description, "The economics effects all phases of your business and is one of the main drivers of why we are involved. In addition, learning from our 2017 growers can save you thousands or maybe even save your business. Finally, with this new information, you can more accurately plan for the 2018 growing season."
With over 125 tickets sold and only 75 tickets left, there is limited seating. Tickets are rapidly selling out. Attendees are urged to purchase their tickets now to ensure access to the symposium because the first four Hemp University symposiums have been sold-out events. "We've actually had to turn people away. That's why we're saying 'first come, first serve' so to speak. The educational symposiums have been chock-full of important information, thus drawing many farmers, entrepreneurs and investors wanting to attend. Our company can also help attendees purchase hemp seeds, hemp clones, hemp mother plants, fertilizers, advance soil amendments such as Soil Balance, greenhouses, grow lights, bailers and, very soon, CBD extractors with a 'no money up front revenue share model'," says Perlowin.
In the industry developments and happenings in the market this week include:
Medical Marijuana Inc. (OTC: MJNA) recently announced that subsidiary HempMeds® was a Gold Sponsor of EXPO MEDE Weed, the second International Fair of Medical Cannabis, which took place in Medellín, Colombia on November 24-27, 2017. This conference is organized annually to discuss the legality of medical cannabis globally. Currently in Colombia, non-psychotropic Cannabis (Hemp) is legal to grow if it contains less than 1% THC. At the conference, executives from the Medical Marijuana, Inc. portfolio of companies spoke to hundreds of patients and doctors at the event about CBD and shared stories of previous international successes in Mexico, Braziland Paraguay. Speakers included Dr. Stuart Titus, CEO of Medical Marijuana, Inc., and Raul Elizalde, President of HempMeds® Mexico.
Puration Inc. (OTC: PURA) announced this month the company plans to have a cannabis infused beverage ready to launch in Canada in conjunction with the nationwide legalization of recreational marijuana expected in Canada in July of 2018. Deloitte estimates the market for legal marijuana in Canada could reach $8 billion. The Canadian Spirits market is $5 billion. "I originally became a Puration shareholder when I purchased the Puration distribution rights for Canada," said Brian Shibley, CEO of Puration. "I am a Canadian citizen and with my experience and contacts in Canada, I became interested some time ago in distributing Puration products in Canada. One thing has led to another and Puration has evolved. My interest in Puration has since grown, and so I have become the CEO. With the pending nationwide legalization of recreational marijuana in Canada, combined with Puration's experience in cannabis extractions and making cannabis infused beverages, I am even more enthusiastic today about distributing Puration products in Canada then when I originally came to the company. I think Puration's success with EVERx CBD Infused Water is laudable, but I think the opportunity to introduce a THC infused beverage in Canada is a much bigger opportunity than EVERx."
GreenGro Technologies Inc. (OTC: GRNH) closed up slightly on Tuesday with over 3 million shares traded by the market close. GreenGro Technologies, Inc. designs, manufactures, and markets green eco-friendly vertical cultivation systems in the United States. It offers flux lighting products, table stands, nutrient mixers, home units, cloning systems, and tea brewers, as well as provides consulting and management services to its clients. The company also markets lights, fans, hoods, automatic watering systems, and nutrients under the GreenGro brand. GreenGro Technologies, Inc. offers its products to consumers and industrial cultivators through its Website. It has strategic alliance with Solaris Power Cells. The company, formerly known as Authoriszor, Inc., was founded in 1996 and is based in Westminster, California.
Agritek Holdings Inc. (OTCQB: AGTK) recently announced that the Company has agreed and entered into negotiations to purchase the surrounding nine-hundred (900) acres of its existing 80 acre Hemp planned research site in Pueblo, Colorado. Currently, Agritek Holdings owns eighty (80) acres with water and mineral rights for its planned Hemp research project for production of CBD infused products. The Company has now been given the first right and accepted the offer to purchase the surrounding nine-hundred (900) acres making it one of the largest operating Hemp research projects seeking approval by the state. Through the almost 1,000 acre operation, Agritek Holdings will seek to become the largest tissue culture and genetics propagator of cannabidiol (CBD) and cannabis genetics in the US. The Company's primary focus will be in creating and patenting genetic strains of true medical marijuana and hemp-based CBDs.
In other industry important developments of note:
Vapor Group, Inc. (which trades on the OTC Markets under the symbol VPOR), announced today that it had signed a Letter of Intent ("LOI") for the sale of intellectual property assets of its wholly-owned subsidiary, Simple Cork, Inc. (the 'Assets") to a fully-reporting SEC company, (the "PubCo"). Under terms of the LOI, PubCo will pay for the Assets by a distribution of newly-issued and registered shares of its common stock to the Vapor Group shareholders of record on the closing and its assumption of all the debt of the Simple Cork subsidiary, and a majority of the long term debt of the parent, Vapor Group, Inc.The closing date for shareholders of record of the Company to be eligible to receive registered shares of PubCo in this transaction, will be December 29, 2017. The Simple Cork subsidiary's Assets are the intellectual property the Company's patented Simple Cork™ product. The product is a faster and easier way to get the cork out of bottles of wine. Simple Cork lets anyone easily open a wine bottle without a corkscrew.
Yaniv Nahon. President and CEO of the Company, said, "We have been working on this transaction for some time and believe its completion will significantly benefit our shareholders and our ongoing operations. The following are the primary terms of the transaction:
1. Following closing, the newly-issued shares of PubCo's common stock will be registered with the SEC on a S-1 registration statement by PubCo wherein the shares will be distributed to our shareholders after the registration statement becomes effective. The exact ratio of the number of shares to be registered and issued to the Company's shareholders is yet to be determined and will be announced before December 29, 2017.
2. Vapor Group will be relieved of a major portion of its convertible debt that will be undertaken by PubCo, in addition to PubCo's assumption of the debt owed by Simple Cork.
3. In return for PubCo's issuance and registration of stock to benefit our shareholders and the assumption of debt, Vapor Group will sell any and all rights and title to the intellectual property assets of Simple Cork, Inc. to PubCo.
Yaniv further added, "Clearly through the actions required of it, PubCo is committed to completing the investment in the development, finalization and marketing of the Simple Cork product that we started. Separately, this transaction at the same time will set the stage for the streamlining of Vapor Group's operations and its focusing on recent developments that we believe will provide exceptional business growth."
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