The Cannabis industry’s applications continue to grow with the increasing demand for hemp-based and other natural fiber composite products. U.S. consumers are likely to find kenaf fiber in carpet backing and padding, a fiber mat in automobiles, biofuels applications while the US government is starting to recognize the difference between marijuana and hemp. Legislation is being passed in many states to allow industrial hemp with a THC content of 0.3% or less to be grown in research studies.
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In hemp operations of importance in the markets today: As Hemp, Inc.‘s (OTC: HEMP) multi-purpose industrial hemp decortication facility nears completion, executives are shifting their focus to sales and marketing and are pleased to announce the sale of approximately 7,000 pounds of raw Kenaf to a Tennessee company involved in the biofuel industry. According to David Schmitt, COO of Hemp, Inc.’s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), the company purchased the raw kenaf for testing and evaluation. “We are extremely optimistic that this sale will lead to even more sales of our raw kenaf,” said Schmitt. “We are also currently working with several Fortune 500 companies on various projects involving either kenaf or industrial hemp.” Last week’s sale of kenaf (a cousin plant to hemp in the hibiscus family) has definitely kicked Hemp, Inc.’s product sales into action. Schmitt says the company is currently negotiating a five-million-pound potential sale of raw kenaf. “We received a serious inquiry and price request for five million pounds of the raw kenaf we have on hand. If we finalize this sale, we could be looking at $1,250,000.”
Schmitt went on to say, “We are in a very advantageous position because Industrial Hemp Manufacturing, LLC is the only company in America with millions of pounds of kenaf on hand, ready to sell and we are the largest facility capable of outputting forty million pounds per year. Not to mention, we have 400 acres of kenaf planted this year, but if we sell more, we plan to increase this year’s planting from 400 acres to approximately 2,000 acres.” Once the, now fully funded, North Carolina Industrial Hemp Commission creates the guidelines for the cultivation of hemp, Hemp, Inc. will kick its hemp fiber sales into high gear and process massive quantities for distribution… an easy feat for the 70,000 square foot commercial multi-purpose industrial hemp decortication facility. Bruce Perlowin, CEO of Hemp, Inc. (OTC: HEMP) said, “Right now, we are focused on kenaf. That is what we are planting now. However, next year we expect to plant hemp.”
The raw kenaf is one of the company’s six initial products for sale. SpillSuck™, another one of the six products, is available for sale now. It is a super absorbent, environmentally friendly product made from the core of kenaf and hemp plants which is considered one of the world’s most absorbent natural materials. It’s generally used for oil, chemical and other liquid spills. It’s easy to handle and is thirty times more absorbent than clay. As mentioned in Hemp, Inc.’s previous press release, 25,000 pounds of SpillSuck™ are in the final stages of packaging.
In other Hemp/Cannabis operations, news and recent developments: Medical Marijuana, Inc. (OTC: MJNA) recently announced that the Company and its portfolio company HempMeds® participated as exhibitors and speakers at the U-T’s Successful Aging Expo on Saturday, April 30 in San Diego. An estimated 8,000-10,000 was expected to attend the event, which is focused on education, entertainment and healthy aging solutions. Dr. Stuart Titus, Chief Executive Officer of Medical Marijuana, Inc., presented on cannabis-based anti-aging research and information on cannabinoids such as THC and CBD that are capturing global news headlines. Dr. Titus also provided insightful facts about non-psychoactive hemp cannabidiol (CBD)-based solutions available to any consumer without a medical marijuana card.
In other industry developments of note: HempTech Corp. (OTC: HTCO), a provider of advanced Controlled Environment Agriculture (CEA) with sophisticated automation and analytical tools for the cultivators of legal industrial hemp and cannabis, announces today that it has signed an exclusive MVA (Master Vendor Agreement) with Tinkerer’s Obsession Labs (TOL) to be an exclusive provider of containerized grow systems (grow.droid II) for TOL in the following jurisdictions: Alaska, Continental United States and First Nations in Canada. TOL agrees to purchase from HempTech a minimum of 1000 “grow.droid II” systems between 2016 and 2022, primarily to satisfy the growing needs of the people of the Indian Reservations. HempTech has also signed an exclusive agreement with FutureLand Corp (OTC: FUTL) to obtain financing and consultation support for the life of the MVA agreement to better service the agreement with TOL. HempTech will compensate FutureLand through revenue sharing on the project.
Medical Marijuana, Inc. (OTC: MJNA) announced this month to shareholders and the public that the Brazilian government has approved its hemp cannabidiol (CBD) oil product Real Scientific Hemp Oil™ (RSHO™) from HempMeds Brasil™ for a fourth indication for import as a prescription medication for the treatment of cancer. The first three indications approved for HempMeds Brasil™ to import are: epilepsy, Parkinson’s disease and chronic pain. “We are right now tempering our excitement because this is a process and it needs to be approached carefully and scientifically,” states Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “The opportunity within Brazilmay open doors for the Company to explore our RSHO™ product as an adjunctive, potentially post-chemotherapy prescription medication, by assisting patients with their recovery. Further, this may even allow us to enter into pre-clinical work to see if there may be merit for botanical cannabis and its derivatives as a primary treatment option for certain types of cancers in those places in our world that may allow such alternative and integrative treatment options.”
Greengro Technologies, Inc. (OTC: GRNH), a world class provider of ecofriendly green technologies, announced in late April that it has acquired growcameras.com, a revolutionary way to monitor crop health. The Grow Camera is a self-contained, WiFi enabled, five megapixel NDVI camera and temp/humidity sensor. It can be used with most modern DVR equipment that support networked cameras while also featuring monitoring capabilities through Android, iOS, or Windows devices using the mobile application. The Grow Camera NDVI technology is traditionally used in space imaging and weather satellites, and can be used to quantify vegetation health and provide an early indicator to problems in the grow room.
GW Pharmaceuticals plc (NASDAQ: GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announced that Justin Gover, GW’s Chief Executive Officer, will present at the 2016 UBS Global Healthcare Conference on Tuesday, May 24, 2016, at 8:00 a.m. (EDT) at the Grand Hyatt Hotel in New York City. A live audio webcast of the presentation will be available through GW’s corporate website in the investor relations section from the investor’s calendar of events page at http://www.gwpharm.com. A replay will be available soon after the live presentation..
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