Hemp Now Federally Legal Across All 50 States, Hemp, Inc. Reports
SPRING HOPE, NC, Dec. 21, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – It’s official. After years of prohibition, industrial hemp is now federally legal in America. President Trump signed off on the 2018 Farm Bill yesterday afternoon which redefines hemp as an agricultural commodity, and more importantly, removes it from the Controlled Substances Act. That means hemp is no longer considered a Schedule 1 substance and the Drug Enforcement Administration (DEA) will no longer be able to interfere with the interstate commerce of hemp products. With its ever expanding footprint across the nation, this is a huge win for Hemp, Inc. (OTC: HEMP). A global leader in the industrial hemp industry, Hemp, Inc. has industrial hemp processing centers in multi states which includes the largest one (85,000 square feet) in the western hemisphere (in Spring Hope, North Carolina).
This Farm Bill, which goes into effect on January 1, 2019, is a monumental step for the industrial hemp industry and it will finally allow the U.S. to be competitive in the global market. More than 25,000 products can be produced with hemp, ranging from construction materials to cannabidiol (CBD) products used to treat various ailments and improve wellbeing. For Hemp, Inc. (OTC: HEMP), federal legalization of industrial hemp will afford it incredible market opportunities for its rapidly growing hemp cultivation and manufacturing operations across the country. “This historic event in our nation’s industry creates a tremendous amount of opportunities for the small family farm, local communities, the U.S. economy, and a myriad of industries,” said Hemp, Inc. CEO Bruce Perlowin.
According to Perlowin, Hemp, Inc. has spent $25 million on building its industrial hemp infrastructure ($3 million over the course of 5 years building out the infrastructure in Arizona, $20 million building out the infrastructure in North Carolina, and $2 million in Oregon building out its infrastructure which only took 90 days). The company is currently looking for joint venture partners to provide its expertise. These partnerships are designed for those who are ready to make considerably large investments in an industry primed to hit or surpass $20 billion by 2022.
“While we won’t forget the small family farmer, these joint ventures are designed for the millionaires and billionaires of the industry and billion dollar hedge funds that are investing large amounts of money into the industrial hemp sector,” says Perlowin. “The small family farmers are just as important to us so we will help them grow hemp and everything that needs to be done in terms of processing so they can re-emerge back into the American landscape.”
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SPRING HOPE, NC, Dec. 21, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – It’s official. After years of prohibition, industrial hemp is now federally legal in America. President Trump signed off on the 2018 Farm Bill yesterday afternoon which redefines hemp as an agricultural commodity, and more importantly, removes it from the Controlled Substances Act. That means hemp is no longer considered a Schedule 1 substance and the Drug Enforcement Administration (DEA) will no longer be able to interfere with the interstate commerce of hemp products. With its ever expanding footprint across the nation, this is a huge win for Hemp, Inc. (OTC: HEMP). A global leader in the industrial hemp industry, Hemp, Inc. has industrial hemp processing centers in multi states which includes the largest one (85,000 square feet) in the western hemisphere (in Spring Hope, North Carolina).
This Farm Bill, which goes into effect on January 1, 2019, is a monumental step for the industrial hemp industry and it will finally allow the U.S. to be competitive in the global market. More than 25,000 products can be produced with hemp, ranging from construction materials to cannabidiol (CBD) products used to treat various ailments and improve wellbeing. For Hemp, Inc. (OTC: HEMP), federal legalization of industrial hemp will afford it incredible market opportunities for its rapidly growing hemp cultivation and manufacturing operations across the country. “This historic event in our nation’s industry creates a tremendous amount of opportunities for the small family farm, local communities, the U.S. economy, and a myriad of industries,” said Hemp, Inc. CEO Bruce Perlowin.
According to Perlowin, Hemp, Inc. has spent $25 million on building its industrial hemp infrastructure ($3 million over the course of 5 years building out the infrastructure in Arizona, $20 million building out the infrastructure in North Carolina, and $2 million in Oregon building out its infrastructure which only took 90 days). The company is currently looking for joint venture partners to provide its expertise. These partnerships are designed for those who are ready to make considerably large investments in an industry primed to hit or surpass $20 billion by 2022.
“While we won’t forget the small family farmer, these joint ventures are designed for the millionaires and billionaires of the industry and billion dollar hedge funds that are investing large amounts of money into the industrial hemp sector,” says Perlowin. “The small family farmers are just as important to us so we will help them grow hemp and everything that needs to be done in terms of processing so they can re-emerge back into the American landscape.”
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