NetworkNewsBreaks – Sugarmade Inc. (SGMD) Aims t
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Posted On: 08/21/2019 3:50:58 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Aims to Capitalize on Kentucky’s Surging Hemp Industry
Sugarmade (OTCQB: SGMD), one of the largest publicly traded hydroponics supply companies moving into the industrial hemp space, recently announced an initial investment in Hempistry Inc. An article discussing the company reads, “In 2014, Kentucky had 20 approved hemp growers across 33 acres in a trial run. By 2018, those numbers had increased to 210 growers and 6,700 cultivated acres. This sustained rapid expansion has been aided considerably by the passage of the 2018 Farm Bill; recent numbers indicate that 60,000 acres throughout the state are now devoted to hemp production, with nearly a thousand jobs created. Political support has helped Kentucky become the second-largest producer of hemp, while Colorado holds the number one spot. . . . Hempistry Inc. is a Kentucky-based hemp cultivator that began legal hemp cultivation in Western Kentucky last year. Sugarmade announced an initial investment of $190,000 in Hempistry (http://nnw.fm/CBm2m), part of a secured option to invest up to $1 million, that will allow the company to receive 12% of Hempistry’s biomass and converted distillate or isolate cannabidiol (‘CBD’) profits for the upcoming 2019 farming season.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Sugarmade (OTCQB: SGMD), one of the largest publicly traded hydroponics supply companies moving into the industrial hemp space, recently announced an initial investment in Hempistry Inc. An article discussing the company reads, “In 2014, Kentucky had 20 approved hemp growers across 33 acres in a trial run. By 2018, those numbers had increased to 210 growers and 6,700 cultivated acres. This sustained rapid expansion has been aided considerably by the passage of the 2018 Farm Bill; recent numbers indicate that 60,000 acres throughout the state are now devoted to hemp production, with nearly a thousand jobs created. Political support has helped Kentucky become the second-largest producer of hemp, while Colorado holds the number one spot. . . . Hempistry Inc. is a Kentucky-based hemp cultivator that began legal hemp cultivation in Western Kentucky last year. Sugarmade announced an initial investment of $190,000 in Hempistry (http://nnw.fm/CBm2m), part of a secured option to invest up to $1 million, that will allow the company to receive 12% of Hempistry’s biomass and converted distillate or isolate cannabidiol (‘CBD’) profits for the upcoming 2019 farming season.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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