Palm Beach, FL – (October 2, 2018) – While there may have been a recent pull back on Cannabis stocks, one thing that remains strong is the grow operations show no signs of slowing and instead continue to expand. The cannabis industry’s growth is forcing industry cannabis focused companies to evaluate the current state of their operations, both in terms of scale and efficiency. Despite market conditions, more importantly as demand rises and retail sales improve, companies are still choosing to expand operations with investment and innovation. Driving the demand could also be attributed to the change in federal policy in the U.S. and recent legalization of recreational marijuana in Canada. According to Bill Sumner, a Hemp Business Journal contributor, as the industry impatiently awaits passage of the 2018 Farm Bill and pending removal of hemp from the Controlled Substances Act, companies are quickly moving to position themselves as leading suppliers of hemp-based CBD products, and investors are all too happy to help foot the bill. Active cannabis companies in the markets this week include Global Hemp Group Inc. (CSE:GHG) (OTC:GBHPF), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), Liberty Health Sciences Inc. (CSE:LHS) (OTC:LHSIF), GW Pharmaceuticals plc (NASDAQ:GWPH), The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF).
Global Hemp Group Inc. (CSE:GHG.CN) (OTCPK:GBHPF) BREAKING NEWS: Global Hemp Group and its joint venture partner Marijuana Company of America, Inc. (OTC:MCOA) (the “Partners”) are pleased to provide an update on the harvest at their high yielding CBD hemp project in Scio, Oregon.
The 2018 Scio cultivation consisted of 33 acres of high yielding CBD hemp (utilizing six different cultivars with an expected CBD content ranging from 6% to 12%) was grown in an orchard style cultivation on the two lower fields at the property. With the help of near perfect weather in the region extending the harvest period by several weeks, the hemp had the opportunity to grow to full maturity and allowed the team to completely harvest all plants grown, before the fall rains began in the valley. For pictures from this season’s cultivation, please visit the Scio project page on GHG’s website – https://globalhempgroup.com/scio-oregon.
As with most things on the hemp farm this year, innovation was the key to success. There were many challenges throughout the year; from getting a late start due to delays in closing of the farm acquisition, to preparing the fields, drying, harvesting and storage, but the team in Scio was able to find solutions when required. Our team consists of a number of crew members that are extremely innovative, who are trained in a variety of skill sets. They are well versed in everything from metal fabrication, fine carpentry, and large equipment operation, so the team is able to set up, build, and/or operate pretty much everything themselves at the project. With the addition of a number of knowledgeable advisers to assist, the team was able to solve all challenges that arose during the course of the season.
The Harvest – This year’s harvest consisted of approximately 37,000 high yielding CBD hemp plants producing 24 tons of biomass. Harvesting this year was done by hand, making it extremely labour intensive and time consuming. The team has created a number of solutions that will automate both the harvesting and planting of the hemp for next year’s crop. Ultimately, the goal is to completely automate these processes, making it more efficient and less costly to complete. The team has now begun working on prototypes to automate the harvesting processes and expect to have machinery ready for use next season.
Drying – A number of different drying techniques were employed with this year’s harvest. In the end, “old school” hanging techniques proved to be the most effective and efficient. Drying took place in the farm’s larger 20 foot high, 4,000 sq. ft. greenhouses which allowed for an increased quantity of plants being dried at any one time. Drying took approximately 36 to 48 hours to dry the hemp to be levels required for storage and ultimately extraction. With each successive batch of drying, techniques were improved to increase the volume of biomass being dried in the greenhouse, while decreasing the time that it took to hang and dry it.
Results – The drying process for all of the hemp harvested is now complete and is stored awaiting further processing. The farm produced 48,000 pounds of dried biomass, which is stockpiled in quarter ton super sacks, stacked three bags high and requiring approximately 4,000 sq. ft. of storage space. Despite the late start in planting this season, the hemp plants still achieved sufficient size to produce the anticipated quantity of biomass. It is expected that in 2019, planting will begin June 1st giving the hemp an addition 30-45 days of growing time. This will produce much larger plants, resulting in significantly larger quantities of biomass. Read this and more news for Global Hemp Group at https://financialnewsmedia.com/news-ghg
Other recent developments in the cannabis industry include:
Liberty Health Sciences Inc. (CSE:LHS.CN) (OTCQX:LHSIF) recently announced it plans to open two new dispensaries in Miami and Dania Beach by the end of November and three more in Hollywood, Bonita Springs and Orange Park by the end of this December. Each of the dispensaries will feature free 24-hour delivery service throughout their service area. The new dispensaries are located at 6827 Bird Road, Miami, FL.; 1103 South Federal Highway, Dania Beach, FL.; 2119A Hollywood Blvd., Hollywood, FL.; 24611 Production Circle, Bonita Springs, FL.; 1907-3 Wells Road, Orange Park, FL. The dispensaries are open Monday through Friday, 10 a.m. to 7p.m., Saturday, 10 a.m. to 5 p.m., and Sunday 12 p.m. to 5 p.m. Currently, Liberty operates seven dispensaries and six delivery hubs throughout Florida. By the end of the calendar year, Liberty plans to have 12 dispensaries open throughout the state, subject to the receipt of Florida Department of Health approvals.
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) announced last week the completion of the previously announced plan of arrangement (the “Arrangement”) pursuant to which Aurora has acquired all of the issued and outstanding common shares of ICC for $1.95 per share (payable in common shares of Aurora (the “Aurora Shares”)), reflecting an aggregate purchase price of approximately $290 million . ICC is now a wholly-owned subsidiary of Aurora. Completion of the Arrangement follows receipt of approval of the Arrangement from the Instituto de Regulación y Control del Cannabis, the Uruguayan regulatory authority overseeing the regulation and control of cannabis in Uruguay. ICC’s common shares will be delisted from the TSX Venture Exchange (the “TSX-V”), subject to TSX-V approval, and applications will be made for ICC to cease being a reporting issuer. The acquisition of ICC establishes Aurora as the industry leader in Latin American, a region which encompasses more than 650 million people from across Mexico , the Caribbean , Central America , and South America . ICC, based in Uruguay , the first country in the world to legalize cannabis for adult consumer use, has developed a strong portfolio of high-quality, low-cost production assets, product offerings, and commercial agreements.
GW Pharmaceuticals plc (NASDAQ:GWPH) recently announced positive top-line results of the second randomized, double-blind, placebo-controlled Phase 3 clinical trial of EPIDIOLEX® (cannabidiol or CBD) CV in the treatment of seizures associated with Dravet syndrome, a rare and severe form of childhood-onset epilepsy. In this trial, EPIDIOLEX, when added to the patient’s current treatment, achieved the primary endpoint of reduction in convulsive seizures for both dose levels (10 mg/kg per day and 20 mg/kg per day) with high statistical significance compared to placebo. Both EPIDIOLEX doses also demonstrated statistically significant improvements on all key secondary endpoints. “The positive outcome in this second trial of EPIDIOLEX in patients with Dravet syndrome further reinforces the effectiveness of this newly available medicine in this particularly difficult to treat, childhood-onset epilepsy,” stated Ian Miller, M.D., Director, Epilepsy and Neurophysiology Program at Nicklaus Children’s Hospital in Miami, FL and principal investigator of the trial. “The totality of data from the controlled clinical trials completed for EPIDIOLEX have shown clinically meaningful seizure reductions and a consistent safety and tolerability profile. I am excited that this recently approved and important new treatment option is now available for my patients.”
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD.TO) (OTCQX:TGODF) recently announced a supply partnership with Velvet Management Inc. for sales and distribution to provincial liquor and cannabis boards across Canada. Velvet is a new company with distinct ownership created by the largest wine distributor in Canada, Philippe Dandurand Wines. TGOD is committed to best-in-class distribution for its premium, certified organic cannabis. Sales and relationships with provincial cannabis and liquor boards is a critical aspect to TGOD’s success. Through the partnership with Velvet, TGOD has secured a strong entry point with every provincial liquor and cannabis board across Canada.
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