Industrial Hemp Operations Expansion Continues To Solidify Itself As An Agricultural Commodity As Reports Show Sales North Of $500Mil Annually
23 Aug, 2016, 08:30 ET
CORAL SPRINGS, Florida, August 23, 2016 /PRNewswire/ --
With approved pilot programs and increased research funding, the industrial hemp sector aims to continue its success both financially and as a whole as it moves towards greater acceptance in society. Precise data are not available on the size of the U.S. market for hemp-based products, but according to Federation of American Scientists (FAS.org) current industry estimates report annual sales at more than $580 million annually. Hemp, cannabis and legal marijuana advancements are drawing more and more legit companies into the industry as the market has shown to keep close watch of Green Cures & Botanical Distribution Inc. (OTC Pink: GRCU), Medical Marijuana, Inc. (OTC Pink: MJNA), Greengro Technologies, Inc. (OTC Pink: GRNH), Hemp, Inc. (OTC Pink: HEMP) and PharmaCyte Biotech, Inc. (OTCQB: PMCB).
Green Cures & Botanical Distribution Inc. (OTC: GRCU), a medical marijuana and industrial hemp products innovator announced today that the company has finalized and closed the land lease deal to lease 20 acres of agricultural land in the Adelanto, CA area.
GRCU is well on its way to be a part of the major movement in the medical marijuana sector in the cultivation area. Now that the company has closed the leasing agreement, the company can lock down and finalize the agreement with an already established licensed grower.
Read the full GRCU Press Release at: http://financialnewsmedia.com/profiles/grcu.html
As previously stated, high profile celebrities have shown major interest to cultivate cannabis in the city of Adelanto and GRCU will be established as one of the first one-stop-shops for this huge economic opportunity alongside of these well-known entertainment celebrities. Marijuana, although legal in only a few states in the US, is one of the most popular intermediaries for Americans, who, in 2015 spent more on legal marijuana ($3.4B) than they did on Oreos ($711M). As the herb's illicit reputation is shed, it will become an ingredient engrained in our lives like any other legal and socially acceptable go-between.
In other news and trading activity from around the industry of note in the markets:
Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, announced that at The San Francisco Money Show's Cannabis Investing Symposium, which the Company is sponsoring, Medical Marijuana, Inc. CEO Dr. Stuart Titus will speak to investors about current global cannabis industry trends, investment opportunities and how the Company's diversified portfolio of cannabis companies and brands are capitalizing on the current cannabis revolution.
Greengro Technologies, Inc. (OTC: GRNH) a world-class provider of eco-friendly green technologies, recently announced this month that the Company's new business division, CBDVentures, plans for its new selection of hemp-infused fruit flavored CBD nectars. The Company's CBD Energy Nectar Beverage line is all natural and enhanced with hemp, guarana, ginseng, and a sweet savor of robust authenticity. The nectars deliver a tasty blast of fruit flavor coupled with an energy boost specially formulated to create a gratification that fully lives up to the very definition of its name; Amrita: "Immortality" and Nectar: "The flavored drink of the gods".
Hemp, Inc. (OTC: HEMP) executives announced that its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, sponsored the "hempcentric" festival, HEMP X, this past weekend at the Highland Brewing Company in Asheville, North Carolina. The family-friendly free event, hosted Asheville-area farmers, entrepreneurs, and other small business owners in an effort to highlight the economic benefits of growing industrial hemp while educating Americans on the importance of hemp and the multiple uses and benefits of industrial hemp.
PharmaCyte Biotech, Inc. (OTC: PMCB) closed up at $0.0415 on high volume trading activity of over 13.9Million shares traded by the market close. PMCB announced back in July that a recently published scientific article supports PharmaCyte's ongoing research efforts that concern medical uses for constituents of Cannabis known as cannabinoids.
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