Palm Beach, FL – (December 19, 2018) – The cannabis market is aiming to end 2018 on a high note after a year full of momentum from moments like Canada’s full-legalization, the Farm Bill in the United States and overall growth on the consumer side as more and more people have access to both Cannabis and CBD-based products. In America, the Hemp Bill is a massive step toward the end of prohibition of cannabis as a whole, on track to being legal across the U.S. which is expected to generate massive growth opportunities in the cannabis industry. Tucked inside the Farm Bill are several provisions that clear the way to making industrial hemp a regular agricultural crop, fueiling experts belief the hemp market itself could generate annual revenues north of $20 billion by 2020. From a business opportunity idea, with industrial hemp expected to be treated like any other agricultural product many anticipate several key roadblocks that have slowed growth to be removed, namely free access to the federal U.S. banking system, unrestricted interstate commerce as well as access to federally backed farm support programs. Active Companies from around the market with current developments this week include: Sugarmade, Inc. (OTC:SGMD), Medical Marijuana Inc. (OTC:MJNA), Hemp Inc. (OTC:HEMP), Marijuana Company of America Inc. (OTC:MCOA), Kali Inc. (OTC:KALY).
Sugarmade, Inc. (OTCPK:SGMD) BREAKING NEWS: Sugarmade believes the passage of the U.S. Farm Bill, which includes specific hemp cultivation and legalization provisions creates additional revenue and investment opportunities for the Company as farmers across the country announce plans to begin or expand the cultivation of hemp. Sugarmade provides multiple products for the cultivators and processors and is in process of bringing additional products into this marketplace.
The markets for industrial hemp, CBD oils and other hemp products are widely expected to explode upon implementation of the hemp provisions in the Farm Bill. Several analysts are now forecasting that the market for hemp and CBD will exceed even the size of the booming THC marijuana market.
“Our vast experience in the supply of cultivation, harvesting and processing products places Sugarmade in a strong position to increase its revenue and profit outlooks as dozens of new operations prepare to come online,” commented Jimmy Chan, CEO of Sugarmade. “Many of our current products apply directly to the industrial hemp market, which is now opening up. Additionally, we will be marketing other products directly to this emerging market, particularly relating to post-harvest processing. We see this an important market in which we plan to be involved.”
In addition to sales of hemp market related supplies, Sugarmade also holds an option to invest up to $1 million in Kentucky hemp operation, Hempistry, Inc., which recently successfully harvested its first 100 acre test crop. Plans are currently underway to significantly increase cultivation operations for the 2019 planting season.
Mr. Chan continued, “We are especially pleased with the specific provisions in the Farm Bill that include legalization of cannabidiol products. We think the inclusion of CBD into foods, beverages and other consumer products will continue to grow, creating additional markets for participants in the North American hemp industrial complex. We believe Sugarmade is very well prepared to capitalize on these booming markets.” Read this and more news for Sugarmade at: https://financialnewsmedia.com/news-sgmd
In other industry developments and happenings in the market this week include:
Hemp Inc. (OTCPK:HEMP) recently commented on the 2018 Farm Bill. The measure easily passed the lower chamber of the House by a 369-47 vote. The legislation, which passed the Senate in an 87-13 vote on Tuesday, allows for farm subsidies and has language that federally legalizes industrial hemp production. “This is a historic decision for our nation,” said Hemp, Inc. CEO Bruce Perlowin. “Our company had the foresight to begin research granted in the 2014 Farm Bill, and have been awaiting progress on the 2018 Farm Bill for quite some time. Since our company has been operational in multiple states over the years, providing the necessary infrastructure for farmers to maximize their output, we know that this legislation will benefit local economies tremendously.” According to Perlowin, Hemp, Inc. has spent $25 million on building its industrial hemp infrastructure ($3 million over the course of 5 years building out the infrastructure in Arizona, $20 million building out the infrastructure in North Carolina, and $2 million in Oregon building out its infrastructure which only took 90 days). In Oregon, Hemp, Inc. employed over 200 locals at the height of this year’s harvest.
Medical Marijuana Inc. (OTCPK:MJNA) recently announced that its subsidiary Kannaway®, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has been named one of the “10 Key Players to Watch in the Cannabis Industry” by Technology Headlines Magazine. “We are thrilled to be named as one of The Technology Headlines’ 10 Key Players to Watch in the Cannabis Industry,” said Kannaway® CEO Blake Schroeder. “This kind of media coverage helps us showcase our continuing accomplishments and explain how much we care about expanding the CBD industry – continuing our mission of helping others around the world.”
Marijuana Company of America Inc. (OTCQB:MCOA) last week announced the launch of a new corporate hempSMART™ website and marketing platform for its associates. By implementing this new associate platform, hempSMART’s customers now have the ability to subscribe monthly to our products creating a pathway to generate an annuity stream of monthly reoccurring revenue with minimal follow up. Since Q3, the Company has already seen an increase in associate signups with the new marketing platform and it is expected that Q4 of 2018 will feature the highest generated revenue of the Company’s history. The new hempSMART platform is focused on incentivizing our current and future associates to take full advantage of our newly structured compensation plan. MCOA anticipates an increase in sales and a continuous influx of associate signups towards year end.
Kali Inc. (OTCPK:KALY) and Puration, Inc. (OTCPK:PURA) recently announced a THC extraction partnership. The two companies will combine efforts and resources in the extraction of THC for respective products to be produced by the two companies. PURA requires THC extract for its new THCSavor Beverage and KALY plans to produce THC extract for vapes. KALY owns a patented cannabis extraction process which PURA has licensed for specific purposes to include PURA’s primary business, the production of cannabis infused beverages. Together, PURA and KALY plan to contract licensed extraction facilities in Colorado and California to produce THC under KALY’s patented process and supervision. PURA and KALY, through their partnership, expect to optimize economies of scale in the production of high-quality THC extract.
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