PALM BEACH, Florida, January 10, 2019 /PRNewswire/ --
Financialnewsmedia.com News Commentary
Cannabis/Hemp/CBD companies are always looking to identify crops that can bring best yield from the crops they grow. The hottest commodity today is growing hemp for CBD extraction. However more evaluation is needed in order to better understand ideal conditions, plant stock, and varieties for yield and quality. A report titled INDUSTRIAL CANNABIDIOL HEMP REPORT by the University of Vermont Extension found that: "To help farmers succeed, agronomic research on hemp is needed. We evaluated hemp CBD varieties, growing conditions (under hoop house and outdoors), and planting stock (seed or clonal propagation)". It stated: "Hemp is a non-psychoactive variety of cannabis sativa L. The crop is one of historical importance in the U.S. and re-emerging worldwide importance as medical providers and manufacturers seek hemp as a renewable and sustainable resource for a wide variety of consumer and industrial products." Searching for the latest innovation and aggressive new means to grow the most fruitful and profit crop has become a growing focus for those entrenched in the industry. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), Medical Marijuana Inc. (OTC:MJNA), Hemp Inc. (OTC:HEMP), Aphria Inc. (NYSE:APHA) (TSX:APHA), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED).
Hemp grown for all types of end-use (health supplement, fiber, and seed) contains less than 0.3% tetrahydrocannabinol (THC). To grow hemp for CBD production, the crop is generally grown intensively as a specialty crop and the flowers are cultivated for maximum growth. There is also potential to grow industrial hemp as a row crop for seed and/or fiber and extract CBD from other plant parts, as well. The CBD oil is incorporated into topical products (salves, lip balm, lotion) and food and is available in pill capsules, powder form, and more, which can be found in the market today. Industrial hemp is poised to be a "new" cash crop and market opportunity for Vermont farms that is versatile and suitable as a rotation crop with other specialty crops, small grains, and grasses.
Marijuana Company of America, Inc. (OTCPK:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, and its Joint Venture partner Global Hemp Group Inc. (CSE: GHG/ OTC: GBHPF/ FRA: GHG) are pleased to announce that clone production for the 2019 season at their Scio, Oregon High Yielding CBD Hemp project is now in high gear, in preparation for an "as early as possible" planting this year. Unlike 2018, which had a late start to planting due to delays in finalizing the acquisition of the project's 109 acre farm, preparations are underway so that planting of this year's crop can begin in late May to early June. This will provide an additional 45 to 60 days of growing time compared to last year, allowing time for the hemp plants to get considerably larger, which will generate a greater quantity of biomass.
For 2019, the project will cultivate three hemp strains which will offer high CBD content, substantial biomass yield, and ultra low THC levels, along with superior pest resistance and disease tolerance. These strains also have a shorter flowering period, which will allow for an earlier harvest, before the usual Fall rainy season begins in the region.
The hardiest phenotypes were selected for mother plants that will feed the cloning process, which began back in November 2018 soon after the recent harvest and drying operation was complete. This cloning operation will produce the approximately 40,000+ clones required to plant on the farm's lower 35 acres.
The Scio team is now upgrading the lighting and electrical in the greenhouses for continued expansion of the cloning operation. It is expected that the cloning operations will produce an excess of clones beyond what is required for the Scio project, which will allow for the sale to other farms in the area. The team continues to talk with local farmers that are interested in partnering to cultivate hemp for the coming season. On-site clone operations will eliminate the need of capital outlay to purchase clones from other growers as was required in 2018 as the result of the late start, an expense of over US$200,000. In addition, the project's operating company, Covered Bridge Acres (CBA), has received its registration to cultivate hemp for 2019 from the Oregon Department of Agriculture. Also, for the 2019 season, CBA is now registered to produce or handle agricultural hemp seed, so that the company can establish a breeding program that will potentially generate additional revenue for the project. Read this and more news for MCOA at: http://www.financialnewsmedia.com/news-mcoa/
In the industry developments and happenings in the market this week include:
Medical Marijuana, Inc. (OTCPK:MJNA) closed up slightly on Wednesday at $0.0887 trading over 7.5 Million shares by the market close. MJNA is the first-ever publicly traded cannabis company in the United States. On Wednesday the company announced that MJNA and its subsidiaries Kannaway®, HempMeds® Mexico and HempMeds® Brasil generated the largest-ever (unaudited) revenue year in its history in 2018, as well as reached major milestones in its business operations. "We are excited to have surpassed our growth and revenue goals for this year," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "By breaking our annual sales record (unaudited) and investing into our future expansion efforts, we can provide our shareholders with an optimistic forecast for our future success."
Hemp, Inc. (OTCPK:HEMP) closed up over 6% on Wednesday trading over 25.4 Million shares by the market close. The company is 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 this week that the company's operation in Medford, Oregon, was featured on local NBC 5 station, KOBI-TV, following passage of the 2018 Farm Bill that legalized hemp. In the segment, "Hemp: the burgeoning industry of southern Oregon," NBC goes behind the scenes of Hemp, Inc.'s operation in Medford that provides an infrastructure to process and manufacture hemp, and discusses the company's plans for rapid growth. "Things have just blossomed from there with the concept of a local processing center which we opened up in about 90 days," Bruce Perlowin, CEO of Hemp Inc., tells NBC. "Employed 205 people and it's up and running now."
Aphria Inc. (NYSE:APHA) (TSX:APHA) closed up over 7% on Wednesday at $6.79 trading over 7.2 Million shares by the market close on the NYSE. It also closed up over 6% on Wednesday at $8.92 trading over 8 Million shares by the market close on the TSX Exchange. The Company announced that it had completed its previously announced acquisition of CC Pharma GmbH ("CC Pharma"), a leading distributor of pharmaceutical products, including medical cannabis, to more than 13,000 pharmacies in Germany, as well as throughout Europe. The Company continues to strengthen its end-to-end cannabis operations and infrastructure in Germany. "As one of the most promising medical cannabis markets in the world, Germany is a top strategic priority for Aphria. With today's acquisition of CC Pharma, Aphria is creating a German and ultimately pan-European platform that brings together demand, supply and distribution." said Vic Neufeld, CEO of Aphria.
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED) closed up over 13% on Wednesday at $33.60 trading over 16.8 Million shares on the NYSE exchange alone by the market close. Canopy Growth announced on Wednesday that, through its Latin American-focused subsidiary, Canopy LATAM Corporation ("Canopy LATAM"), the company introduced Spectrum Cannabis Peru S.A.C. ("Spectrum Cannabis Peru"), the newest member of the growing global Spectrum Cannabis family. Spectrum Cannabis Peru will operate as part of the Canopy LATAM network and with Peru poised to introduce new regulations for the use of medical cannabis, this new in-market entity is uniquely positioned to support the opening of the Peruvian market while leveraging Canopy Growth's global expertise in patient and physician education, as well as in medical cannabis production. This announcement directly supports Canopy Growth's strategy of securing first mover advantage to realize the opportunities generated by evolving cannabis regulations across the region and the world. Until regulations are published supporting patient access to medical cannabis, Spectrum Cannabis Peru will focus on advancing education activities, including working closely with the medical community to foster greater understanding of the potential uses of medical cannabis while reducing stigma.
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