PALM BEACH, Florida, October 2, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
The legal Cannabis industry is poised for tremendous growth both in the United States and abroad as a more progressive society continues to open its arms to the multi-billion dollar market. According to a recent study by BDS analytics, spending in the space is rapidly increasing, with consumers projected to dump nearly $60 billion into the space by 2027. The North American Market was already valued north of $9 billion in 2017. The impressive growth has been fueled by a number of factors including, but not limited to, decreased legal restrictions, increased consumer acceptance of alternative products, and a rising global supply level. Active cannabis companies in the markets this week include Global Hemp Group Inc. (CSE:GHG) (OTC:GBHPF), HEXO Corp. (TSX:HEXO) (OTC:HYYDF), Golden Leaf Holdings Ltd. (CSE:GLH) (OTC:GLDFF), Liberty Health Sciences Inc. (CSE:LHS) (OTC:LHSIF), CV Sciences Inc. (OTC:CVSI).
Global Hemp Group Inc. (CSE:GHG.CN) (OTCPK:GBHPF) BREAKING NEWS: Global Hemp Group and its joint venture partner Marijuana Company of America, Inc. (MCOA) (the "Partners") are pleased to provide an update on their high yielding CBD hemp project in Scio, Oregon.
Harvest - Harvest has begun at the farm. Over the next 10 days the team in Scio will harvest this year's crop, which consists of approximately 36,000 high yielding CBD hemp plants that were grown in an orchard style cultivation on 33 acres. The team planted six different cultivars this year to determine which would be the optimal hemp variety to grow in the coming year. The team continues to evaluate hemp cultivars that will provide higher CBD yields and a reduced flowering period, which will allow the team to complete the harvest earlier in the year prior to the fall rains.
Preparation for Extraction - Once the hemp is harvested, it will be dried in preparation for storage prior to processing. Drying this season will take place in the project's four recently completed greenhouses on the farm and will utilize a traditional hanging method, as well as testing an innovative rack drying system. Prior to next season's harvest, the Partners will construct a permanent drying facility on site. Once the hemp is dried to a 10-12% moisture content, it can be stored with little or no cannabinoid/plant matter degradation, prior to extraction.
Greenhouses - The team has now completed the setup of the first four of five greenhouses, giving the project 15,000+ sq. ft. of active greenhouse space for its drying and cloning operations. A fifth greenhouse (already purchased) will be installed after the drying of this year's crop is complete. This will increase the active greenhouse space at the project to over 19,000 sq. ft. An additional 20,000 sq. ft. of greenhouse space will be purchased in October as part of further project expansion, with the vision of implementing a year-round perpetual harvest model to enhance revenue generation and cash flow, and increasing the size of the cloning operation to be able to supply clones to the local farming community.
The team has now started its cloning operations for the winter crop which will utilize the current and future greenhouses. Management is exploring opportunities to maximize production by developing beneficial relationships that will help optimize the Project's profit potential through R&D, data collection and analysis. Read this and more news for Global Hemp Group at http://www.financialnewsmedia.com/news-ghg
Other recent developments in the cannabis industry include:
HEXO Corp. (TSX:HEXO.TO) (OTCPK:HYYDF) recently announced that it has shipped its first order for the Canadian adult-use cannabis market. The shipment is yet another example of the Company executing its commitment to shareholders and consumers to supply innovative and easy-to-use products, powered by HEXO, across Canada. "This is a historic moment for HEXO," said Sonia Isabel, Vice-President of Sales for HEXO. "We are so proud of all of our teams for the hard work that they have put in leading up to this moment, but it doesn't stop now. We look forward to continuing to provide high-quality products and client experiences as we continue our expansion throughout Canada and beyond."
Golden Leaf Holdings Ltd. (CSE:GLH.CN) (OTCQB:GLDFF)last week announced its 100 percent-owned Canadian subsidiary Medical Marijuana Group Corporation ("MMG"), a Licensed Producer in St Thomas, Ontario received its Sales License from Health Canada on Friday September 21, 2018. The news is a significant milestone for the Canadian LP. Asked for comment, President of MMG Phillip Millar said, "We are thrilled with the news. All of our product in inventory will move immediately to buyers and could contribute approximately US$900,000 to third quarter GLH revenue. All 2018 product we can grow is already pre-sold under very favourable wholesale pricing. Our plan for 2019 is to secure direct-to-customer licensing and supply the profitable medical patients' market with the assistance of our sister company MMC, also 100 percent-owned by GLH, which currently has patient lists that can account for 100 percent of our production capacity. We expect the complete value chain of seed to consumer will result in high profit margins.
Liberty Health Sciences Inc. (CSE:LHS.CN) (OTCQX:LHSIF) recently announced that they have entered an exclusive partnership with AdaViv Inc., a hardware-enabled, predictive agriculture company, to improve production of cannabis at its Liberty Health Sciences 360 Innovation Campus in Gainesville, FL. AdaViv will integrate its adaptive Computer Vision software and Machine Learning platform into Liberty's 360 Innovation Campus and, together, will look to push the state-of-the-art in greenhouse technology and precision growing to new levels of productivity and efficiency. AdaViv's technology enables 24/7 plant-level inspection as well as AI computer vision to uncover hidden plant biometrics that translates data into actionable insights for growers like Liberty. Founded by an interdisciplinary team of MIT researchers and alumni, AdaViv is led by Dr. Ian Seiferling (CEO), Julian Ortiz (COO, MBA MIT Sloan '19) and Dr. Thomas Matarazzo (CTO). AdaViv emerged from MIT Delta V, the capstone entrepreneurship accelerator at MIT, and the MIT DesignX accelerator. In 2018, AdaViv was selected as one of the first grantees of Microsoft AI for Earth.
CV Sciences Inc. (OTCQB:CVSI) recently announced last week that it has introduced PlusCBD Oil™ Gummies at the Natural Product Expo East 2018. A new category of PlusCBD Oil™ products, PlusCBD Oil™ Gummies are offered in two tasty flavors, Cherry Mango and Citrus Punch. A line extension of our Gold Formula line with no artificial ingredients, each gummy contains 5 mg of CBD and a mere 1.5 g of sugar. Gluten free, vegan friendly, and non-GMO, these new products support healthy balance of the body and mind. "We are pleased to introduce PlusCBD Oil™ Gummies to our existing line of industry leading hemp extract products that include balms, sprays, drops, capsules, and softgels," stated Joseph Dowling, Chief Executive Officer of CV Sciences. "We are committed to innovation of our PlusCBD Oil™ products, and as the demand for CBD infused products continues to grow, it is important to expand our wide variety of products to suit all customer preferences. We foresee PlusCBD Oil™ Gummies being a solid revenue driving category for our Company.".
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