LAKE CITY, S.C., Dec. 4, 2017 /PRNewswire/ -- Boston-based Tucker Naturals, LLC. announced today that it has initiated a letter of intent to acquire land in the Godley Morris Commerce Center, Lake City, SC, according to its investment partner Caropar Investments. Tucker Naturals plans to build and manage an industrial hemp processing and extraction facility that will support South Carolina farmers participating in the state's industrial hemp pilot research initiative.
Under SC House Bill 3559 which was signed into law by Governor Henry McMaster on May 23, 2017, it is now legal for industrial hemp to be grown for research purposes in South Carolina, in accordance with the 2014 Federal Farm Bill. The South Carolina Department of Agriculture (SCDA) is administering the application and permitting process. The legislation allows for up to 20 farmers to receive permits to grow industrial hemp. The farmers who receive permits will each be allowed to grow up to 20 acres of the crop.
After an overwhelming response by South Carolina farmers, the initial permit holders have been identified and are working with the SC Department of Agriculture to finalize the permitting process.
The Tucker Natural facility, which will be located at 800 West Main Street in Lake City, will provide consulting services to farmers, as well as processing, extraction, manufacturing and other go-to-market aspects of the initiative. In addition, Tucker Naturals has partnered with two additional companies, Massachusetts-based ProVerde Laboratories and Caropar Investments, LLC, based in Lake City, SC.
ProVerde Laboratories, Inc., an ISO 17025-2005 accredited analytical testing laboratory specializing in providing potency and safety testing for the hemp/CBD industry worldwide, is going to build a world class third party ISO 17025 testing facility in the commerce center to support the needs of the hemp farmers as they bring their products to market. Science based testing and consulting is the hallmark of the services they provided to the industry from helping states develop good testing standards, helping farmers with cultivation practices, extraction, processing and formulation methods to ensure the safety and potency of the products produced.
Caropar President William C. "Billy" Morris commented, "We have been working with Tucker Naturals for about a year now, and we have jointly hosted several hemp symposiums to educate the farmers on the administrative and growing aspects of the initiative. Tucker Naturals has been great to work with, and they bring vast expertise that will help our farmers and create a successful industry in South Carolina."
"Having ProVerde Labs locate here in South Carolina also provides a tremendous scientific resource for our farmers as we work to create this new industry in our state."
"Lake City, which was the main hub of the South Carolina tobacco industry, is an ideal location for Tucker to locate this facility. I believe Tucker Naturals will be a great asset for our state. We have also been contacted by several other industry-related and research companies interested in locating in our commerce park, which could prove to have enormous economic impact on Lake City, Florence County, and the entire Pee Dee Region."
DISCLAIMER:This release contains certain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements can be identified by the use of terminology such as "subject to," "believes," "anticipates," "plans," "expects," "intends," "estimates," "projects," "may," "will," "should," and "can". The Company undertakes no obligation to publicly update or revise any forward–looking statement, whether as a result of new information, future events or otherwise.
Tucker Naturals, LLC.
Proverde Laboratories, Inc.
SOURCE Tucker Naturals, LLC.