PALM BEACH, Florida, June 8, 2017 /PRNewswire/ --
The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion dollar market in consumer sales by 2020 with $450 million dollars of those sales coming from hemp-based sources. That's a 700% increase from 2016. CBD or Cannabidiol, is a primary component of the marijuana plant but can be derived from the Hemp plant as well. Hemp and Cannabis Company market activity and news coverage today includes: Hemp, Inc. (OTC: HEMP), PotNetwork Holding, Inc. (OTC: POTN), Acology, Inc. (OTC: ACOL), MassRoots, Inc. (OTC: MSRT), Players Network (OTC: PNTV)
Hemp, Inc. (OTC: HEMP) announced today that its farming associates, who are licensed in the state of North Carolina by the NC Industrial Hemp Commission, have secured 150+ pounds of CBD-rich hemp seeds which are to be planted this weekend and/or next week. According to CEO, Bruce Perlowin, the 150+ pounds of seeds equate to over 550 acres to go along with the 17 acres of high-CBD clones they are planting in North Carolina and Colorado. It will be one of, or, the largest CBD hemp grows in the United States, to date.
The company also plans on purchasing its second CBD Extractor, this year. As announced in Hemp, Inc.'s last press release, the company has already purchased its first industrial NuAxon Tech CO2 Supercritical extractor from NuAxon BioScience, the manufacturer and producer of the world class, large capacity CO2 Supercritical Extraction equipment. However, with the industry's expanding CBD market and ever-increasing consumer CBD sales over the past few years, executives feel it is in the best interest of its shareholders to acquire a second extractor to capture a solid, sizeable share of the market while still in the early growth stage. Read this and more news for HEMP at http://www.marketnewsupdates.com/news/hemp.html
David Schmitt, COO of Hemp, Inc.'s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM) said that they have been researching CBD extraction methods and manufacturers for the past 2 years, weighing the pros and cons of both. For its second CBD extractor purchase, executives found another manufacturer they feel would produce another superior CBD extractor that utilizes a different technology. Based on Hemp, Inc.'s research, building a CBD extractor takes extensive testing, product knowledge and continual process improvement to ensure a superior product that is held to the highest of standards. A collaborative design engineering team that ensures the quality of each component, coupled with a customizable approach, guarantees the extractor will meet all of Hemp, Inc.'s specifications and standards.
Schmitt expects both extractors to have optimized production levels. "The CO2 Supercritical Extractor that is currently in-house is expected to be assembled over the next 3 months. Once assembled, we will be ready to process and extract CBD oil," said Schmitt.
Bruce Perlowin, CEO of Hemp, Inc. said, "The CBD market has been growing by leaps and bounds. CBD's medicinal qualities have been making waves across America. Residents in states that have not legalized medical marijuana are finding that CBDs from hemp are an alternative to pharmaceutical drugs to treat debilitating medical conditions. There have been recent studies showing CBDs are preferred over addicting pharmaceutical drugs."
Market leaders in the industry this week include:
PotNetwork Holding, Inc. (OTC: POTN) has traded very well these past three days closing up over 34% on Wednesday at $0.083 trading over 17.2 Million shares by the market close. PotNetwork Holdings Inc. announced that the Company was featured on the long running business show at noon EST yesterday on 1470am South Florida and filmed live on AMP2.TV LIVE and also heard on http://www.wwnnradio.com on the Money Watch Network. Go to https://youtu.be/Rn2Ua4dP38A to see more. POTN also announced this week $1,007,797.87 April Revenues blew away expectations as PotNetwork Holding continues to exceed its projections. POTN's wholly-owned subsidiary, Diamond CBD, Inc., after an exponentially record breaking month in April, continued into May riding on a consistently rising wave of popularity. "It's very gratifying to experience such ongoing success. It's evident that such efforts put forth to bring our products into the public eye are yielding strong long-term results. The level of product satisfaction appears to be generating a robust level of repeat sales. We continue to be gratified and excited by our growth," stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
Acology, Inc. (OTC: ACOL) also closed up big Wednesday over 29% trading over 11.5 Million shares by the market close. ACOL's recent acquisition talks with EZ Health Solutions, including the ownership of intellectual properties, continue as last reported and the Company's preparations to create a new CBD-Infused Health Products Division have gained momentum. There has been tremendous interest in the market about our plans to expand.
MassRoots, Inc. (OTCQB: MSRT) was another stock with a strong trading day on Wednesday closing up over 18% at $0.49 trading over 700,000 shares by the market close. MassRoots is one of the largest technology platforms for the regulated cannabis industry. The Company's mobile apps enable consumers to make educated cannabis purchasing decisions through community-driven reviews. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.
Players Network (OTCQB: PNTV) also closed up on Wednesday just under 10% at $0.107 trading over 9.5 Million shares by the market close. Player's Network is a diversified company operating in media and cannabis markets. PNTV owns approximately 85% of Green Leaf Farms Holdings, LLC (Green Leaf Farms), which holds cultivation and production license(s) awarded by the state of Nevada. The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles.
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