Demand for CBD Products Spurring Large Increase of Farming Operations Of Cannabis In U.S.
Palm Beach, FL – May 30, 2019 – “The demand for CBD products is exploding. At the moment the demand is far outpacing the supply,” said Heather Darby, a hemp expert at the University of Vermont Extension who has advised agricultural officials and prospective hemp cultivators in Massachusetts. “Farmers and businesses are scaling up production quickly and moving from producing an acre to producing 50 acres… About 1,500 to 2,000 hemp plants can be grown per acre generating between $40,000 and $50,000, according to information provided by Brightfield Group, a Chicago-based cannabis research firm. An article on Marijuana Moment said: “Industrial hemp production significantly increased in the U.S. in 2018, with farmers cultivating three times as many acres of the crop as compared to the previous year… the pool of farmers licensed to grow hemp… expect another massive surge in 2019 thanks to hemp’s outright legalization through the new Farm Bill… Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTC: NUGS), Terra Tech Corp. (OTC: TRTC), Aphria Inc. (TSX: APHA) (NYSE: APHA), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB).
“Farmers and businesses are scaling up production quickly and moving from producing an acre to producing 50 acres… About 1,500 to 2,000 hemp plants can be grown per acre generating between $40,000 and $50,000, according to information provided by Brightfield Group, a Chicago-based cannabis research firm. “It’s hard to say what’s going to happen. Right now, it’s an open market. People are trying to work as fast as possible to meet that high demand,” said an industry exert. “People think there’s a lot of money to be made … big profits. That may be true, but you have to have a crop to be able to obtain a profit…”
Cannabis Strategic Ventures, Inc. (OTCQB:NUGS) BREAKING NEWS: Cannabis Strategic Ventures today introduces the strategic direction of its wholly owned and operated flagship farm, NUGS Farm North, located in Northern California. The fully operational, six-acre marijuana cultivation operation is expected to reach complete capacity by the fall of 2019, and will position Cannabis Strategic Ventures as one of the largest cultivators in terms of volume in the state of California.
“We believe the operationalization of NUGS Farm North will enable us to become one of the largest legal cultivators and distributors of multiple types of cannabis products in California and the United States. Located in an area of rich agricultural heritage, the growing conditions at NUGS Farm North will yield a significant tonnage of the highest quality marijuana in the world,” said Simon Yu, CEO. Cannabis Strategic Ventures. “We are proud of our teams on the ground and in the corporate office – both of which are diligently working to grow quality plants of some of the most popular varietals, and to secure the financial and operational resources to make this possible.”
Cannabis Strategic Ventures provides the following details regarding the operations and revenue guidance for output of cultivation at NUGS Farm North:
- The site is slightly larger than six acres and will be utilized for greenhouse cannabis cultivation, with products ranging from fresh frozen to trim for THC oil production.
- According to Cannabis Benchmarks ®, the average plant at the greenhouse facility is expected to produce more than one pound of quality product.
- Multiple crops are expected each year and total output could reach an excess of 120,000 pounds per year.
- According to industry data, the average price of licensed marijuana in California averages approximately $1,197 per pound. Additionally, Cannabis Strategic Ventures plans on adding on-site processing and manufacturing to further boost revenues.
- The current operation holds 24 cultivation, manufacturing and distribution licenses issued by the Bureau of Cannabis Control in the state of California.
- The recent OTCQB uplisting has prompted significant investor interest and involvement in NUGS Farm North. The grow projections have created increased investor interest and commitments of substantial funds to finance and expand the operation.
- The Company plans to announce the details of the extensive financing package over the coming weeks.
“Our team is quickly becoming one of the largest publicly traded operations within the U.S. cannabis marketplace,” added Yu. “We thank our investors who continue to support our growth and are excited to provide an update on the details of our extensive financing package.” Read this and more news for Cannabis Strategic Ventures at: https://financialnewsmedia.com/news-nugs
Other recent developments and major influences in the cannabis industry include:
Aphria Inc. (NYSE: APHA) (TSX: APHA) recently announced that its German subsidiary Aphria Deutschland GmbH (“Aphria Germany”) had been awarded a fifth lot for the cultivation of medical cannabis in Germany as part of the Company’s previously awarded license from the German Federal Institute for Drugs and Medical Devices (“BfArM”). The additional lot was provisionally awarded to Aphria Germany in April and was secured following a review by a German court, which affirmed the original decision by the BfArM.
With this decision, Aphria Germany won the maximum output from the German tender process – a total of five lots – and stands as the only licensed producer in Germany with the permission to grow all three strains of medical cannabis approved by the BfArM.
HEXO Corp. (NYSE: HEXO) (TSX: HEXO) and Newstrike Brands Ltd. recently announced that they completed the previously announced arrangement (the “Arrangement”), pursuant to which HEXO acquired all of the issued and outstanding common shares of Newstrike (the “Newstrike Shares”) by way of a plan of arrangement under the Business Corporations Act (Ontario). following the Arrangement, HEXO has ownership or control over 558,971,064 common shares in the capital of Newstrike representing 100% of the total issued and outstanding share capital of Newstrike.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) a global leader in the cannabis industry, recently announced that Aurora has exercised its option with EnWave Corporation and that the companies signed an exclusive, royalty-bearing commercial license agreement with sub-licensing rights (the “Agreement”) for the use by Aurora of EnWave’s proprietary Radiant Energy Vacuum (“REV™”) dehydration technology for the drying of cannabis in South America (excluding Peru). Aurora will hold the exclusive master license for the drying of cannabis using REV™ in the South American license territory and will work with EnWave to pursue additional sub-licensing opportunities. Aurora will receive an undisclosed share of royalties derived from any cannabis product dried with REV™ technology by sub-licensees in the South American license territory. This is the third such agreement signed by Aurora and EnWave.
On April 26, 2019, EnWave and Aurora announced that the companies had entered into a royalty-bearing commercial license agreement with sub-licensing rights, providing Aurora with the exclusive rights to EnWave’s patented REV™ drying technology for the production of cannabis materials in the European Union, excluding Portugal (the “European License”). Aurora announced its intention to purchase an additional 120kW REV™ machine for its European operations. Additionally, Aurora secured a non-exclusive sub-license to use REV™ technology in Canada, signed an intellectual property agreement with the Company and made a $10 million strategic investment into EnWave.
Terra Tech Corp. (OTCQX: TRTC), a vertically integrated cannabis-focused agriculture company, recently announced that it has launched a legal cannabis delivery service, operating from its state licensed Blüm dispensary in Santa Ana, CA, as of Tuesday, May 14, 2019. Through its Blüm Santa Ana dispensary, Terra Tech is now a major supplier of medical and adult-use cannabis to Santa Ana and the surrounding cities, such as Irvine, Laguna Beach and Newport Beach. All of the aforementioned cities suffer from a scarcity of existing cannabis dispensaries. Launching a premier delivery service enables the Company to expand distribution of its best-in-class cannabis products to reach an even greater number of patients and customers. The delivery service is fully licensed and compliant with all state regulations.
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