PALM BEACH, Florida, June 18, 2019 /PRNewswire/ -- Industry reports show that in the U.S. more smaller farmers are getting into the hemp cultivation business, while larger established companies are expanding their acreage and using clones and seeds with better genetic properties, for better output. The industry is growing both in size and in technological/biological efficiencies and there are lessons yet to be learned in this rapidly growing cultivation market. One recent article said: "Growers can plant feminized seeds — which are bred to maximize flower production — start plants in a greenhouse before transplanting them to the field, or use clones. Approaches vary in cost and labor requirements. (An industry source) said clones produce the most stable field results but are the most expensive option… Genetic purity and strength are critical, said (another industry source). Genetics should be selected based on heartiness for a region, market demand and overall crop viability, he said "There is not any reason to do anything without correct genetics," he said. "I can't stress that enough, because there were many farmers in Oregon last year who were not able to participate in sales this year because they did not buy the right seed." Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTCQB:MCOA), Kona Gold Solutions, Inc. (OTCPK: KGKG), Cresco Labs Inc. (CSE: CL.CN) (OTCQX: CRLBF), Hemp Inc. (OTCPK: HEMP), American Premium Water Corporation (OTCPK: HIPH).
The article also reported that: "Total U.S. hemp industry sales were $820 million in 2017, the Hemp Business Journal reported, and topped $1 billion last year, when farmers in 24 states grew hemp. Vote Hemp, an organization that tracks the industry, pegged the number of hemp acres grown at 78,176 last year, up from 25,712 in 2017. Montana and Colorado had the most hemp acreage. So far this year, 751 Oregon farmers have registered more than 22,435 acres of hemp, according to the state, more than double last year's total. In the meantime, hemp is attracting a lot of attention from farmers as a crop."
Marijuana Company of America, Inc. (OTCQB:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, along with joint venture partner Global Hemp Group (CSE: GHG) (OTC: GBHPF) (FRA: GHG), are pleased to announce the start of its commercial planting at its hemp farm in Scio, Oregon.
Marijuana Company of America previously announced its high-yielding CBD hemp farming project with joint venture partner Global Hemp Group in 2018. The Scio, Oregon, farm, operating under the name Covered Bridge Acres Ltd. ("CBA"), has finished preparing the 35-acre land for planting, which is now in the process of laying the last of the mulch and drip line. CBA is also in the process of obtaining organic certification. This season's harvest was more environmentally friendly, with biodegradable plastic mulch brought in from Canada to eliminate the end-of-season environmental waste, thus reducing labor costs associated with its removal from the field.
The hemp plants used for this year's cultivation have been produced from either sprouted seed or through CBA's cloning operation that is done onsite at the Company's greenhouses fully controlled by the CBA team. Genetics being used this year are of higher quality and more stable than those planted last year. The team expects to plant 40,000 to 50,000 plantlets this year, with a CBD content ranging from 12 percent to 15 percent. Any excess clones not required for the field will be sold or used for expansion. This year's cloning operation has eliminated the need to purchase clones from third parties, as was required last season. This will reduce operating expenses in the current year by approximately $200,000.
The CBA team continues to prepare the greenhouses for constant harvest to produce high-quality, smokeable hemp flower. Trimmed, high-end flower, with less than 0.3 percent THC, currently wholesales for 10 times the price of CBD biomass that is going to extraction. 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:
Cresco Labs Inc. (CSE: CL.CN) (OTCQX: CRLBF) one of the largest vertically integrated multistate cannabis operators in the United States, recently announced the opening of new VidaCann medical cannabis dispensaries in the cities of Pensacola and Jacksonville, Florida. With the opening of the new dispensaries, VidaCann now has 12 operating dispensaries throughout the state of Florida. Cresco Labs has entered into an agreement to acquire the ownership interests of VidaCann, one of the largest and most advanced providers of medical cannabis in Florida. The acquisition of VidaCann is expected to close within the next 30 to 90 days, subject to the satisfaction of customary closing conditions including approval by the Florida Department of Health.
"Since announcing the acquisition in March, VidaCann has continued to execute on the expansion of its retail footprint," said Cresco Labs CEO and Co-founder Charlie Bachtell. "The new dispensaries in Pensacola and Jacksonville provide a retail presence in two of the largest cities in Florida, which will improve our ability to capitalize on the very strong growth in the Florida market with more than 10,000 new patients being registered each week."
Hemp Inc. (OTCPK: HEMP) a global leader in the industrial hemp industry with bi-coastal processing centers including the 85,000 square-foot multipurpose industrial hemp processing facility in Spring Hope, North Carolina, a state of the art processing center in Medford, Oregon, and a 500-acre hemp growing Eco-Village in Golden Valley, Arizona, announced recently that CEO Bruce Perlowin was interviewed by Today's News-Herald in Lake Havasu to discuss Arizona's industrial hemp industry and the Company's plans in the state.
The front page article explores Hemp, Inc.'s 500-acre hemp growing eco-village and describes the Company's plans with the property. The article also outlines the work Hemp, Inc. is planning on doing with veterans as part of the Veteran Village. In the article, Perlowin explains that cultivators will be growing hemp for cannabidiol (CBD) instead of fiber because it is more profitable. Additionally, the article features information on The Great American Hempathon, which is a joint venture with Hemp, Inc. and growers.
Kona Gold Solutions, Inc. (OTCPL: KGKG) a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, recently announced it has partnered with 15 new distributors within the last 45 days. The signing of these new distribution partners places Kona Gold's popular Hemp Energy Drinks and CBD Energy Waters in six new states and eight states the Company currently has distribution in, expanding reach and market presence in those states. Kona Gold has now partnered with 31 new distributors over the last 75 days in its aggressive push to grow the Company into a national brand. Kona Gold currently has distribution partners in 30 states.
Kona Gold signed a lease, June 1st, on its new distribution center in Greer, SC. The Company's new 15,000 sq ft distribution center is now fully operational and has received its first truck loads of Kona Gold Hemp Energy drinks. Kona Gold's new distribution center will be headed by the Company's V.P. of Sales, Chris Selinger. The Company recently hired a new warehouse manager that will handle all day-to-day operations and logistics at the new Greer, SC location.
American Premium Water Corporation (OTCPK: HIPH) recently announced that it has developed a prototype LYNKS CBD Pet Water with Link Reservation, Inc. The product is part of the joint-venture (JV) announced last month to produce a CBD-infused water specifically designed for consumption by household pets, using the Company's proprietary Hydro-Nano formulation. LYNKS CBD Pet Water is expected to be launched at retail in early Q3 2019 or sooner.
CEO American Premium Water Corporation, Ryan Fishoff, commented, "I am excited to announce the development of CBD Pet Water with our JV partner LinkRes Pets. The amount of interest and inquiries from retailers led us to fast track the development of this product. LYNKS CBD Pet Water will be a premium product that is a category creator. This will be an innovative product that will have no direct competition at launch, and we're really excited to own market share with this product. LYNKS CBD Pet Water was designed to have premium branding in line with LALPINA CBD. Having LALPINA CBD as part of the branding story for LYNKS CBD Pet Water, we will be introducing the power of our proprietary Hydro Nano formulation to pet owners across the country who might be prompted to try LALPINA CBD for themselves."
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