PALM BEACH, Florida, April 1, 2019 /PRNewswire/ -- A recent article in CannabizDaily, an industry newsletter, focused on the reasons hemp biomass, although not a 'sexy' label… can be the source of significant revenues in the ever-expanding industry. It said: "It turns out that hemp not only gives us medical and recreational cannabis products, but it also gives us bio-fuel. According to research, hemp can be one of the bio-fuels of the future. Recent developments related to hemp production have shown that hemp can be used as an additive to food products like breads, pasta, milk, and cake mixes. But it doesn't stop there. Hemp has also been found to be a good source of fuel. Hemp is regarded valuable to the energy sector because its by-products can provide alternative fuels. Hemp specifically falls under a fuel classification that is called biomass. Biomass is a term for the organic matter that can be converted into and used as fuel, and is thus considered as a potential renewable energy source." The article continued: "Australian hemp advocate Klara Marosszeky said that growing hemp is a great sustainable alternative for small farmers. Not to mention that it is also great for the environment. According to her, biomass produced by hemp is equivalent to the same area of forest per year, but it is produced in a four-month growth period." Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), PotNetwork Holdings, Inc. (OTC:POTN), Cannabis Science, Inc. (OTC: CBIS), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), HEXO Corp. (NYSE: HEXO) (TSX: HEXO).
According to Marosszeky, "Hemp biomass is processed into fuel through biological digestion or chemical decomposition. The waste from hemp cannabis plant is taken and is transformed into a carbon nanomaterial. This carbon nanomaterial can be used as substitute for the more expensive graphene, which is a nanomaterial that is used in high-power super capacitors and batteries. Super capacitors are used in the fast-charging batteries for electronics like laptops, smartphones, and vehicle braking systems."
Marijuana Company of America, Inc. (OTCQB:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, and its Joint Venture partner Global Hemp Group (CSE: GHG/ OTC: GBHPF/ FRA: GHG) (together with the Company, the "Partners") are pleased to announce that they are currently in negotiations with several cannabinoid extraction companies in Oregon, USA, regarding the acquisition of the joint venture's hemp biomass produced at the Scio farm from the 2018 harvest. The team at the Scio farm has prepared processing samples ranging in size from 100 lbs to 2,000 lbs. for the extraction companies. The biomass is being processed into CBD crude oil with the option to refine it further into isolate, or full spectrum oil, in order to increase its value on the market. Results from the current extraction test batches are expected to be received by mid-April and will serve as a basis for the final terms of the sale of the biomass by the Partners.
Cloning Update - The cloning process is well underway at the Scio farm. For this year's cultivation, four different strains have been chosen from the latest high CBD industrial hemp varieties, which are being used as a base for the in-house propagation program. The goal of the program is to produce approximately 50,000 clones to populate the lower 35 acres of the Scio farm for the 2019 season, and reduce and/or eliminate the need for the acquisition of any additional seeds or clones from outside sources. The program started with 400 high quality plants. Through a regimen of proper nutrients and a controlled environment, these "mother" plants will grow into very large bushes, which will be used to derive a sufficient number of clones, ensuring that the target number of plants required for this year's cultivation is reached. Once removed from the mother plants, the clones will then be placed in a propagation greenhouse to root. Once rooted and well established, the clones will then be ready to be planted in the fields, which is expected to begin this year in late May or early June.
Expansion in 2019 - The Company continues to evaluate a number of opportunities to expand the scope of its project in Oregon. As previously announced, a number of local farmers are interested in working with the joint venture partners to grow hemp in 2019. The Oregon Department of Agriculture expects hemp cultivation in Oregon to grow from 11,514 acres in 2018 to more than 25,000 in this current year. In order for new hemp farmers to be successful, they will need to rely on experienced hemp farming teams like our Scio farm team. This will create potential opportunity to joint venture with the local farming community.
Micropropagation (Tissue Culture) - The Company has begun preliminary exploration to expand its business into micropropagation of hemp plants. By focusing on culturing the tissue from feminized "mother" hemp plants that are proven to produce high CBD levels, the Company believes it can more efficiently provide plants with higher-yielding and more profitable CBD content. Micropropagation techniques rely on uniform tissue sampling from high yielding CBD feminized hemp plants, that is more effective than developing plants from the more traditional methods of germination from seed or cloning from other plants. Read this and more news for MCOA at: https://www.financialnewsmedia.com/news-mcoa/
In the industry developments and happenings in the market this week include:
PotNetwork Holdings, Inc. (OTCPK:POTN), the publisher of PotNetwork News and PotNetwork, the magazine recently announced that PotNetwork News, the cannabis industry's premier outlet for financial, political, and trade news, launched a new streamlined website that now includes business listings, an industry events calendar, detailed marijuana stock market quotes, and a dedicated page where users can find all of PotNetwork News' latest video reports. Cannabis enthusiasts are invited to register with the site so they can keep up with the latest news and more in the cannabis industry.
"We are excited about embarking on this new era here at PotNetwork News," said Brandon A. Dorfman, Editor-in-Chief of PotNetwork News. "We see ourselves growing into both the LinkedIn and the CNBC of the cannabis space, a one-stop shop for all your information needs."
Cannabis Science, Inc. (OTC: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, is pleased to announce the Company has expanded into the Canadian market with the formation of Cannabis Science Canada, Inc. Cannabis Science Canada Inc. is a wholly-owned subsidiary of Cannabis Science Inc., and has already begun negotiations for Canadian land, licenses, and expansion capital. "Establishing a presence in Canada is strategically important for Cannabis Science! We can all see the immediate opportunity within its burgeoning cannabis medical industry, and its financial foray; the timing could not be better for us!" stated Mr. Raymond C. Dabney, Cannabis Science's President, CEO, and Co-founder.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) recently announced that the Company and its wholly-owned subsidiary CanniMed Therapeutics, have added product information numbers (PINs) to 78 medical cannabis products to better facilitate and track insurance coverage for their Canadian patients. The products that received PINs include dried flower, capsules, soft gels, topicals and oils.
PINs help employers and insurance companies classify and incorporate health care products into benefit coverage plans. Patients submitting claims to their third-party insurer can now identify specific products and thereby speed up the adjudication and medical coverage process. MedReleaf, another wholly-owned subsidiary of Aurora, introduced PINs to 57 medical cannabis products in 2018.
HEXO Corp. (NYSE-A: HEXO) (TSX: HEXO) and Newstrike Brands Ltd. ("Newstrike") (HIP.V) recently announced that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") under which HEXO will acquire, by way of a plan of arrangement under the Business Corporations Act (Ontario), all of Newstrike's issued and outstanding common shares in an all-share transaction valued at approximately $263 million (the "Transaction").
Under the terms of the Arrangement Agreement, Newstrike shareholders will receive 0.06332 of a HEXO common share in exchange for each Newstrike common share held.
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