USDA New Target Deadline for Hemp Regulations Could Boost Cannabis Stocks
Palm Beach, FL – July 16, 2019 – Cannabis farmer stocks could garner even more investor interest, as the U.S. Department of Agriculture (USDA) prepares to introduce federal hemp rules in August 2019, speeding up previous plans to roll out guidelines by 2020. The USDA noted regulations would address land usage, standards for testing, disposal, law enforcement compliance, inspections, and certification for both products and industry workers. The news comes months after hemp was legalized under the 2018 Farm Bill. However, until the USDA releases its new guidelines, farmers must follow earlier-established rules under the 2014 versions of the legislation. When those guidelines do change, it will open a wide range of opportunity for companies including MYM Nutraceuticals Inc., (CSE:MYM) (OTCQB:MYMMF), Village Farms International Inc. (TSX:VFF) (NASDAQ:VFF), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), Aphria Inc. (NYSE:APHA)(TSX:APHA), and Curaleaf Holdings Inc. (CN:CURA)(OTCQX:CURLF).
MYM Nutraceuticals Inc. (CSE:MYM) (OTCQB:MYMMF) BREAKING NEWS: MYM Nutraceuticals just announced it is now complete for the 2019 growing season at the CBD-rich hemp project situated on 120-acres in Nye County, Nevada. Further to the announcement of June 13, 2019, the 120-acre pivot (crop circle) has been successfully planted. The Company’s Nevada project is based on a CBD-rich hemp production agreement with immediate revenue-generating potential. MYM has entered into a production agreement with Elite Ventures and invested USD $500,000 to grow one pivot of 120-acres of CBD-rich hemp in Nevada. Elite will plant, grow, and harvest the crop of which MYM is entitled to 50%. “I’m happy to report that the CBD-rich hemp seedlings at the Nevada project have now been planted. The planting went as planned and our team of experts will continue to monitor the progress through the harvest and processing stages,” said Howard Steinberg, CEO of MYM. “The Nevada project is a key component in our strategy to create a massive CBD-rich hemp footprint around the globe. Nevada serves as a low-risk entry into the US market that is expected to reach $23 billion by 2023.” Based on previous crops grown on the property, MYM’s 50% entitlement of the estimated production is 60,000 lbs of biomass to be converted into 2,694 lbs of CBD isolate generating estimated revenue of $7.1 million for MYM by Q1 2020. For more information and news for MYM Nutraceuticals, please visit: https://www.mym.ca/
Other cannabis-related developments from around the markets include:
Village Farms International Inc. (TSX:VFF) (NASDAQ:VFF) announced that Governor Greg Abbott has signed into law Texas House Bill 1325. which effectively legalizes the cultivation of hemp and processing of hemp and hemp-derived products, including cannabidiol (CBD) in the State. As previously announced, in anticipation of the passage of the hemp legislation in Texas, Village Farms has begun conversion of half of its 1.3 million square foot, ultra-high-tech Permian Basin greenhouse (which utilizes the Company’s proprietary GATES® technology) for cultivation of high-CBD hemp and CBD extraction. The Texas Hemp Legislation will require licenses for both the cultivation and processing of hemp and Village Farms plans to apply for the requisite licenses as soon as it is permitted to do so. No time frame has yet been provided by the State of Texas for the licensing process. “The Governor’s signing of this bill into law formalizes a significant opportunity for Village Farms as a first mover in the Texas hemp industry and will allow us to capitalize on the expected demand for premium-grade hemp grown in controlled-environment facilities for the high-end health and wellness and the pharmaceutical industries,” said Michael DeGiglio, CEO, Village Farms International. “Conversion of half of Permian Basin greenhouse in West Texas for hemp production is now well underway and we look forward to commencing production as soon as possible upon Texas establishing a licensing and regulatory framework for hemp and CBD.”
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) announced plans for the highly-anticipated expansion of the consumer cannabis market into vapes, concentrates, and edibles. The Company is also preparing to launch a national public awareness campaign this fall, educating consumers, provinces and retailers about the safe usage and consumption of these new derivative products. Through a combination of new and enhanced facilities, Aurora intends to produce new, high-quality products across the country in a variety of product categories. Aurora recently entered into a supply agreement with PAX Labs Inc., a leading consumer technology brand in cannabis. With the PAX partnership, the Company will have the market leading PAX Era device to compete in the Closed Loop category and will also launch a new range of vape products, at various price points, targeted to all major consumer markets through both 510 thread cartridges and disposable single-use units.
“Aurora is the world’s leading producer of high-quality cannabis and we’re ready to introduce high-value product additions to this improved, federally legal market,” said the Company’s CEO Terry Booth. “From the beginning, we’ve invested in industry-leading production and distribution technology, and in consumer research to drive products to market that consumers will desire. These things, together with the dynamic partnerships we’ve entered into on the accessory and technology fronts, position us well for this new market launch in December as per Health Canada’s recent regulatory amendments.”
Aphria Inc. (NYSE:APHA)(TSX:APHA) just announced an agreement with PAX Labs, Inc. to provide premium cannabis extracts in pods designed for use with PAX’s innovative Era device and platform. The Company plans to introduce PAX pods for both adult-use consumers and medical patients, pending anticipated changes to the Cannabis Act to permit the sale of cannabis extracts for vaporization. “As Aphria continues to drive the evolution of the industry, we are thrilled to partner with a technology leader like PAX to provide a new avenue for consumers to integrate cannabis into their lives,” said Irwin Simon, Interim CEO of Aphria. “We are excited to bring our premium cannabis extracts from Solei, RIFF and our flagship medical cannabis brand, Aphria, to the PAX Era device and platform.” PAX has already sold more than 500,000 Era devices for oil concentrates in the United States and continues to see expansive growth. “The expected legalization of vapes and concentrates will mark a significant turning point in the Canadian market, providing more choice and new experiences, while opening the door to a range of new consumers,” added Simon. “Our strategic alliance with PAX sets the stage for our broad portfolio of vapes and concentrate products to come.”
Curaleaf Holdings Inc. (CSE:CURA)(OTCQX:CURLF) announced that it has made two separate acquisitions in Arizona for combined consideration of $25.5 million. Curaleaf entered into an agreement to acquire Glendale Greenhouse, a vertically integrated cannabis business operating a cultivation and processing facility, as well as a prime retail location, with plans to rebrand as Curaleaf after the transaction closes. The Glendale Greenhouse production facility is a 20,000 square-foot, multi-level cultivation center which is capable of producing 3,600 pounds of flower annually. Its 1,500 square-foot dispensary, located directly off the Agua Fria Freeway with 90,000 cars passing daily, can be expanded to nearly 5,000 square-feet. Glendale Greenhouse holds the master lease on the 15,000 square-foot multi-tenant building where the dispensary is located. The facility also operates a state-of-the-art CO2 extraction lab and a kitchen, which is already producing various edible lines such as mints, gummies, brownies and ice cream, with additional products expected to launch later this year.
Additionally, Curaleaf agreed to acquire Phytotherapeutics Management Services, LLC, which operates under the license of Phytotherapeutics of Tucson, LLC. Upon close of the transaction, the license associated with the dispensary will be applied to a newly developed, flagship dispensary located at 2175 N 83rd Avenue, which is part of an exciting Phoenix metro submarket with close access to the I-10 Freeway. The dispensary will also be in the immediate vicinity of the nationally recognized Ak-Chin Pavilion, a popular outdoor amphitheater and concert stadium hosting nearly forty events a year. This new location on 83rd Avenue will bring Curaleaf’s store count in Arizona to eight, all in Maricopa county. According to US Census Bureau data, Maricopa is the nation’s fastest growing county for the third consecutive year, giving Curaleaf the highest store count in the county.
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