On November 12th MariMed and GenCanna Global Forme
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Posted On: 12/03/2018 2:32:36 PM
On November 12th MariMed and GenCanna Global Formed A Hemp Partnership
The partnership expands MariMed’s robust product development capabilities and strengthens GenCanna’s position as a global leader in the Hemp CBD industry. GenCanna is deploying the proceeds of the investment to dramatically expand its production capacity, and extend its position as the global leader in high-quality hemp CBD production, with fully legal sales throughout the U.S. and internationally.
MariMed Inc (MRMD) agreed to invest $30 million in GenCanna Global as part of a strategic partnership. MariMed develops and operates cannabis facilities and branded product lines in several U.S. states and this new supply agreement and partnership with GenCanna provides MariMed with exposure to the hemp market and expands its portfolio in the cannabis industry. While GenCanna is a vertically integrated agriculture-technology company that focuses on producing CBD-rich hemp.
Robert Fireman (CEO of MariMed) stated, “GenCanna shares our values – including our ‘best practices values in producing premium-quality, consistent, and compliant Hemp CBD oils and extracts. We believe many of the nation’s leading retailers will soon provide Hemp CBD products to their customers, in response to popular demand. MariMed will only purchase from companies who meet those standards. This investment and partnership positions our two companies -- working together – to become a trusted leader in the rapidly-growing Hemp CBD sector.”
Cannabis remains federally illegal in the U.S., and CBD is classified as a Schedule 5 substance. That could change with the the Agriculture Improvement Act of 2018, also known as the Farm Bill, which would remove hemp from the Controlled Substances Act, making it a commodity and legalizing CBD derived from hemp.
Grand View Research projects that the global industrial hemp market could reach $10 billion by 2025, while the Brightfield Group estimates the hemp CBD market could be worth $22 billion by 2022, according to MariMed.
The investment and partnership with GenCanna allows MariMed to take advantage of this expanding market not just in the U.S, but internationally.
The GenCanna™ Hemp Research Campus (HRC) is located on nearly 150 agricultural acres formerly used by a multi-national tobacco firm as a research facility near Winchester, Kentucky, in the Bluegrass region just outside of Lexington, Kentucky. At the HRC, GenCanna has conducted groundbreaking research and commercialization of key hemp processing methods and product development, resulting in the creation of over 60 jobs and $20m in economic impact in Kentucky.
ALL GENCANNA™ PRODUCTS ARE PRODUCED IN AN FDA REGISTERED AND INSPECTED, FOOD-GRADE, GMP-COMPLIANT FACILITY AND ARE TESTED BY THIRD PARTIES FOR SAFETY AND QUALITY.
BOTTLED CBD OIL DROPS
Liquid emulsions are a popular way to consume hemp-derived CBD because of the faster onset of action due to the product entering the bloodstream orally. GenCanna™ provides great tasting, white label formulations of varying flavors and concentration levels to a variety of brands as a trusted partner. Of course, GenCanna™ tinctures include the finest U.S.-grown CBD and are tested by third parties to ensure quality and safety.
https://gencanna.com/tinctures
https://www.benzinga.com/markets/cannabis/18/...artnership
https://globenewswire.com/news-release/2018/1...lobal.html
The partnership expands MariMed’s robust product development capabilities and strengthens GenCanna’s position as a global leader in the Hemp CBD industry. GenCanna is deploying the proceeds of the investment to dramatically expand its production capacity, and extend its position as the global leader in high-quality hemp CBD production, with fully legal sales throughout the U.S. and internationally.
MariMed Inc (MRMD) agreed to invest $30 million in GenCanna Global as part of a strategic partnership. MariMed develops and operates cannabis facilities and branded product lines in several U.S. states and this new supply agreement and partnership with GenCanna provides MariMed with exposure to the hemp market and expands its portfolio in the cannabis industry. While GenCanna is a vertically integrated agriculture-technology company that focuses on producing CBD-rich hemp.
Robert Fireman (CEO of MariMed) stated, “GenCanna shares our values – including our ‘best practices values in producing premium-quality, consistent, and compliant Hemp CBD oils and extracts. We believe many of the nation’s leading retailers will soon provide Hemp CBD products to their customers, in response to popular demand. MariMed will only purchase from companies who meet those standards. This investment and partnership positions our two companies -- working together – to become a trusted leader in the rapidly-growing Hemp CBD sector.”
Cannabis remains federally illegal in the U.S., and CBD is classified as a Schedule 5 substance. That could change with the the Agriculture Improvement Act of 2018, also known as the Farm Bill, which would remove hemp from the Controlled Substances Act, making it a commodity and legalizing CBD derived from hemp.
Grand View Research projects that the global industrial hemp market could reach $10 billion by 2025, while the Brightfield Group estimates the hemp CBD market could be worth $22 billion by 2022, according to MariMed.
The investment and partnership with GenCanna allows MariMed to take advantage of this expanding market not just in the U.S, but internationally.
The GenCanna™ Hemp Research Campus (HRC) is located on nearly 150 agricultural acres formerly used by a multi-national tobacco firm as a research facility near Winchester, Kentucky, in the Bluegrass region just outside of Lexington, Kentucky. At the HRC, GenCanna has conducted groundbreaking research and commercialization of key hemp processing methods and product development, resulting in the creation of over 60 jobs and $20m in economic impact in Kentucky.
ALL GENCANNA™ PRODUCTS ARE PRODUCED IN AN FDA REGISTERED AND INSPECTED, FOOD-GRADE, GMP-COMPLIANT FACILITY AND ARE TESTED BY THIRD PARTIES FOR SAFETY AND QUALITY.
BOTTLED CBD OIL DROPS
Liquid emulsions are a popular way to consume hemp-derived CBD because of the faster onset of action due to the product entering the bloodstream orally. GenCanna™ provides great tasting, white label formulations of varying flavors and concentration levels to a variety of brands as a trusted partner. Of course, GenCanna™ tinctures include the finest U.S.-grown CBD and are tested by third parties to ensure quality and safety.
https://gencanna.com/tinctures
https://www.benzinga.com/markets/cannabis/18/...artnership
https://globenewswire.com/news-release/2018/1...lobal.html
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