The State of Arizona has now licensed HempWave as an Industrial Hemp Nursery, Grower, Harvester, Transporter, and Processor, making HempWave a vertically integrated commercial hemp company in Arizona
PHOENIX, June 3, 2019 /PRNewswire/ -- HempWave today announced it has acquired all five of the industrial hemp licenses available from the state of Arizona, licensure that makes HempWave one of the first vertically integrated hemp companies in Arizona.
HempWave physically acquired each of the five respective commercial hemp licenses from Arizona — Nursery, Grower, Harvester, Transporter, and Processor — on Friday, May 31, the first day the licenses were available.
According to the Arizona Department of Agriculture website, the five industrial hemp licenses available in the state are defined as:
- Nursery — An authorized Nursery License shall allow the licensee to propagate eligible seed and propagative materials for planting for a licensed grower. A licensed Nursery shall not grow industrial hemp for harvesting purposes, unless also licensed with the Department as a Grower.
- Grower — An authorized Grower License shall allow the licensee to: 1) Obtain seed or propagative materials for planting; 2) Possess authorized seed and/or propagative materials for planting; 3) Cultivate hemp; 4) Harvest hemp; 5) Possess and store harvested hemp; and, 6) Transport harvested hemp for processing.
- Harvester — An authorized Harvester License shall allow the licensee to harvest an eligible industrial hemp crop for a licensed grower.
- Transporter — An authorized Transporter License shall allow the licensee to transport a harvested industrial hemp crop for a licensed grower.
- Processor — An authorized Processor License shall allow the licensee to: 1) Engage in the processing, handling, and storage of industrial hemp or hemp seed at one or more authorized locations in the state; and 2) Sell, distribute, transfer, or gift any products processed from harvested hemp that is not restricted by rule or law.
"The day has finally arrived," said HempWave CEO, David Soto. "My team and I were at the Arizona state Capitol bright and early Friday morning to kick off a new era in our state's history. The commercial hemp industry is primed to invigorate the economy in Arizona and beyond, and we're here to ignite it."
Clearing-up Misperceptions about Cannabis, Hemp and Marijuana
When President Donald Trump signed the Agriculture Improvement Act of 2018 on December 20, 2018, the U.S. legalized industrial hemp once again throughout the country. Unfortunately, there has been a lot of misunderstanding about the differences and similarities between hemp and marijuana. The primary difference, however, is tied to the psychoactive properties of either "strain" of cannabis.
As defined by the new federal statute (and as explained by most experts), industrial or commercial hemp contains less than 0.3 percent of THC (tetrahydrocannabinol), the chemical compound that gets users "high." And although both hemp and marijuana plants contain cannabidoils (aka, CBDs), most CBD products today tend to be derived from hemp. Importantly, preliminary clinical research suggests a number of healthcare benefits cannabidoils and CBD-based products, including possible treatment for anxiety, cognition, movement disorders, sleep apnea, pain and other maladies.
Additionally, on May 14, 2018, Arizona Governor Doug Ducey signed into law Senate Bill 1098, a law authorizing the Arizona Department of Agriculture to license qualified applicants to grow and process industrial hemp in the state beginning in the summer of 2019.
In addition to obtaining these licenses, HempWave acquired sufficient plant stock to produce over three million hemp clones in 2019.
HempWave and Celexus
As of February 2019, HempWave has agreed to be acquired by Celexus, Inc. and operate as a wholly owned subsidiary of that company. It is anticipated that the acquisition will be finalized in the coming months.
Formed in 2018, HempWave partners with farmers across the country to grow, cultivate, and harvest commercial-grade hemp plants and seeds to produce medicinal grade cannabidiol (CBD oils) and other hemp byproducts.
Celexus, Inc. (OTCBB:CXUS), a strategic partner for HempWave, is an acquisition, management and holding company for early and mid-stage high growth businesses and technologies within the hemp industry. It is the objective of Celexus to represent every aspect of the hemp-farming industry from seeds and extraction to wholesale and retail distribution. For more information, please visit the Celexus website at www.celexus-inc.com.
This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For additional information regarding such forward-looking statements, see, https://hempwave.co/forward-looking-statements.