PLANO, Texas, April 22, 2014 /PRNewswire/ --
Polaris International Holdings, Inc. (OTC: PIHN) has entered into a revolutionary agreement with a 70 acre hemp farm in Kentucky. The agreement provides for Polaris to secure 100% of the harvested material for the extraction of cannabinoids.
Polaris is focused on the development of their ProCannas Product line and intends on utilizing some of the production of Hemp to be used for the production of such said line of products and the availability to enter into other markets as well.
The two companies will form a separate LLC of which each company will be members.
Kentucky passed SB50 in 2013 which removes hemp from the controlled substances list and allows for Kentucky farmers to cultivate the crop without fear of law enforcement. To read the entire bill visit http://www.lrc.ky.gov/record/13RS/SB50.htm
"With Kentucky's SB50 becoming law and allowing the growth of hemp, the opportunity to secure farmland for our benefit was necessary. By entering this joint venture, we are opening the door to establish our own supply of CBD for use in our ProCannas products. This will substantially reduce our production costs and therefore increase profitability for the Company." states Medical Director, Dr. Vasthi Alvarez Avila. Tentative plans for extraction of the CBDs from the growth production will be completed within Kentucky which will decrease delivery and production time.
The Company is also looking forward to the launch of its new website in the coming weeks which will have more detailed information on the company, production, and the ProCannas line of products.
ABOUT THE COMPANY
ProCannas core business focuses on the manufacture and distribution of new, pharmaceutical grade cannabinoid based products for medicinal use. Due to the concentrated strength and unique mix of ingredients integrated within our products, they are intended to be available to patients only through licensed participating physicians. Due to recent changes in the law regarding the medical use of marijuana, coupled with studies and a strong body of evidence highlighting that THC is not the significant component for medicinal use, doors are opening for innovation. Laws are expected to become even more favorable for companies like ProCannas. The Company intends to target a broad range of specialties with this novel product, including but not limited to sports medicine, pain management, neurology, and osteopathic medicine.
Safe Harbor Statement:
This news release includes forward-looking statements pertaining to future anticipated projected plans, performance and developments, intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Any statements on this news release that are not statements of historical fact should be considered forward-looking statements. These forward-looking statements generally can be identified by phrases such as "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "intends," or other words or phrases of similar import. Similarly, statements in this news release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
SOURCE Polaris International Holdings, Inc.