Passing of Farm Bill to be a Game Changer for Cannabis Industry Particularly the Hemp CBD Market
Palm Beach, FL – (December 20, 2018) – The massive $867 Billion estimated Farm Bill, currently sitting with the president for his signature, would remove industrial hemp from a list of federally controlled substances, a major step as cannabis culture continues to push into the U.S. mainstream. Lawmakers expect President Donald Trump to sign the farm bill legislation today. The legislation would remove hemp from the Controlled Substances Act, which would legalize hemp production. Which could be an incredible windfall for those entrenched in the market. Active companies in the markets this week include Surge Holdings, Inc. (OTC:SURG), Player’s Network, Inc. (OTC: PNTV), Sugarmade, Inc. (OTC:SGMD), Medical Marijuana, Inc. (OTC:MJNA), Hemp, Inc. (OTC:HEMP).
Surge Holdings, Inc. (OTCQB:SURG) BREAKING NEWS: Surge Holdings and Player’s Network, Inc. (OTCQB: PNTV), a rapidly growing company in legal marijuana industry announce today a joint venture to distribute Green Leaf PURE CBD products to a network of approx. 40,000 retail stores throughout the United States.
The relationship allows PNTV to focus on continual development of high-quality CBD products and brands while SURG utilizes their SurgePays Blockchain B2B distribution platform and outbound call center to introduce, sell and manage the ongoing replenishment of these products.
CBD continues to be one of the fastest growing markets in the United States with sales expecting to reach $22 billion by 2022. Additionally, the passing of the Farm Bill 2018 which included the Hemp Act of 2018 removed the barriers associated with growing hemp due to federal prohibition to include restricted access to banking, water rights, and crop insurance. The signing of this bill will define hemp as a federally legal agricultural product; subsequently removing all of the restricting legislation and opening the door for PNTV and SURG to capitalize early on this multi-billion dollar industry.
Through the JV, the initial order kit for new stores will range from approximately $399 to $1,500 or more. Anticipated monthly orders will be of similar value based on location and the size of the retailer.
Currently, the market for CBD is on track to generate more than $600 Million in 2018. Analysts project that CBD sales will reach over $1 Billion by 2020 and is expected to exceed $22 Billion by 2022.
SURG has recently signed contracts to grow their distribution network of convenience stores and bodegas to 40,000+ retail locations throughout the United States. The joint venture with PNTV creates an immediate distribution channel for Green Leaf PURE to capture a share of nationwide brick and mortar CBD sales while both companies expect to realize significant revenue increases as the CBD market grows. Read this and more news for SURG at: https://www.financialnewsmedia.com/news-surg/
Other recent developments in the cannabis industry include:
Sugarmade, Inc. (OTCPK:SGMD) 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.
Medical Marijuana, Inc. (OTCPK:MJNA), the first-ever publicly traded cannabis company in the United States, subsidiary Phyto Animal Health today announced the launch of its latest cannabidiol (CBD) pet product, Phyto Animal Health Vitality 3G Oral Concentrate. “We worked closely with our Veterinary Advisory Board and CBD experts to formulate this newest addition to our product line and we couldn’t be more excited for it to launch,” said Phyto Animal Health CEO Ian Quinn. “This new supplement will be targeted to veterinary clinicians and animal hospitals and we hope that it will help them learn about the many potential benefits of CBD.” Designed as an all-natural health management supplement for your pet, Vitality 3G Oral Concentrate contains decarboxylated CBD in its unfiltered oil to maximize CBD content while retaining the nutritional value of raw hemp.
Hemp, Inc. (OTCPK:HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers including the largest multipurpose industrial hemp processing facility in the western hemisphere (in Spring Hope, North Carolina), announced today that the company has been at the center of news coverage regarding the 2018 Farm Bill that includes language legalizing industrial hemp. The $867 billion bill recently passed in both the House and Senate, and next needs to be signed into law by the U.S. President. In addition to the company’s operation in Spring Hope, North Carolina, Hemp, Inc. also has one of the most sophisticated post hemp local processing centers in Medford, Oregon, and a 4,500-acre hemp growing eco-village in Golden Valley, Arizona.
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