PALM BEACH, Florida, May 17, 2017 /PRNewswire/ --
As the latest Legislation efforts supporting the legalization of some level of hemp and cannabis use continues to pass across the US, the marijuana industry collectively is projected to explode with lucrative opportunities for those companies lucky enough to already be entrenched in the U.S. and Global marijuana markets. A growing number of states are starting to show signs it may be time to end the detrimental effect of archaic marijuana prohibition laws leading to companies to kick into high gear such as: Hemp, Inc. (OTC: HEMP), Marijuana Company of America, Inc. (OTC: MCOA), PotNetwork Holding, Inc. (OTC: POTN), MyDx, Inc. (OTC: MYDX), Medical Marijuana, Inc. (OTC: MJNA)
With Hemp, Inc.'s (OTC: HEMP) 500 acre Arizona hemp farming infrastructure moving into high gear, the following news could not have come at a better time. We are pleased to report Arizona's House (Committee of the Whole) passed SB1337, amended, last week on 5/8/17 after the Senate passed it on 2/23/17. Proposed by Senator Sonny Borrelli, the bill would legalize the production, processing, sale and distribution of industrial hemp for commercial purposes and be treated as an agricultural crop subject to regulation by the Arizona Department of Agriculture. Senator Borrelli believes hemp would be a "good cash crop" for Arizona farmers since it can be used for a multitude of products ranging from fiber for clothing to oil. Thus, Arizona is "on the verge of authorizing its farmers to start growing hemp" according to one local new source. Read this release in its entirety and more news for hemp at: http://www.marketnewsupdates.com/news/hemp.html
This is perfect timing, according to Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP). Hemp, Inc.'s 70,000 square-foot multi-purpose industrial hemp decortication facility, in Spring Hope, North Carolina, is set to be fully operational any day now and will be the largest hemp processing plant of its kind in the western hemisphere. "Our type of commercial facility is an essential part of industrial/processing infrastructure necessary for the emerging, large-scale industrial hemp industry in America. Now that we have that in place, we are focusing on building the farming infrastructure all over America. Acquiring a hemp baler in North Carolina, growing hemp clones in Colorado, joint ventures in Kentucky, and establishing the Arizona 'Veteran Village Kins Community' are the ways we have, thus far, implemented the first phase of our massive expansion plan to grow hemp in all legal states," said Perlowin. The Hemp University is the educational infrastructure and Hemp, Inc.'s CO2 Critical Extractor purchase is part of an already existing and rapidly expanding extraction infrastructure in America.
Perlowin continued, "The legalization of industrial hemp in Arizona would benefit its economy and expand its sources of revenue. Industrial hemp can also improve the agricultural vitality of Arizona. Because of these primary reasons, industrial hemp will continue to increase in demand." He went on to say, "For the last 3 years, I've been planning for the legalization of hemp in Arizona by building a 'Hemp Growing Veteran Village Kins Community' on 500 of our 4,500 acres in Arizona, north of Kingman." The eco-villages would also include organic gardens, natural beehives, a pond, a living fence and other elements. Thus far, there are a total of 6 geodesic domes on Perlowin's Hemp Growing Veteran Village Kins Community in Arizona. One of the five domes has been completed, according to Dwight Jory, Project Manager for the Veteran Village.
Other industry developments and market performances in the market yesterday include:
Marijuana Company of America, Inc. (OTC: MCOA) enjoyed above average trading on Tuesday closing up over 9% on over 10.7 Million shares by the market close is an innovative cannabis and hemp marketing and distribution Company headquartered in Southern California.
In addition to MCOA, PotNetwork Holding, Inc. (OTC: POTN) enjoyed strong trading on Tuesday closing up over 30% on over 11 Million shares by the market close. POTN stated yesterday in a news release that it's continually rising success and popularity of their subsidiary Diamond CBD's innovative and highly consumable product line has surprised even upper level management. Having recently celebrated the distribution of 1 million Chill Gummy edibles, Diamond CBD has reported ongoing record breaking order flow, resulting in the achievement of numerous highly anticipated milestones, including CBD product distribution in approximately 10,000 retail locations nationwide. PotNetwork also recently announced that Diamond CBD, Inc. had disclosed outstanding first quarter 2017 sales results of $1,858,347.48 which exceeded the total sales volume of $1,663,081.78 for the entire calendar year of 2016.
Another strong performer in the market on Tuesday was MyDx, Inc. (OTCQB: MYDX) closed up over 27% by the market close trading over 23.4 Million dollars. MyDx, Inc. yesterday announced a suite of upgrades to its MyDx 1.0 chemical analyzer hardware and software. These upgrades will greatly advance existing capabilities, including improvement in the overall performance of the device and for the first time, will allow the first of three anticipated upcoming sensor releases in AeroDx, which will measure key air quality parameters for cannabis and non-cannabis consumers, to be interchanged seamlessly with the CannaDx Sensors.
In other industry news, Medical Marijuana, Inc. (OTC: MJNA) yesterday announced that its subsidiary HempMeds® will bring their knowledge of the benefits from its line of CBD hemp oil supplements into Panama to exhibit at the XXXIII Congress of the Pan American Alliance of Medical Women event. The event will take place from 8:00 a.m. to 4:00 p.m. from May 17-20 in El Cangrejo, Panama at Hotel El Panama. Attendees of the women's medical conference, which is geared towards an integral approach to the health of a woman, who stop by the HempMeds® booth can expect to learn more about the Company's unique line of CBD hemp oil supplements, including its groundbreaking Real Scientific Hemp Oil™ (RSHO™) and zero-THC Real Scientific Hemp Oil-X™ (RSHO-X™), the first-ever cannabis product to receive approval from the federal government of Mexico for importation.
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