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American Premium Water Corp. (HIPH) Celebrates Passage of 2018 Farm Bill Formally Legalizing Hemp in the US
American Premium Water Corp. (HIPH) Celebrates Passage of 2018 Farm Bill Formally Legalizing Hemp in the US.
About this update from American Premium Water Corporation
[{"type":"text","content":"\nPLAYA VISTA, Calif., Dec. 21, 2018 (GLOBE NEWSWIRE) -- American Premium Water Corporation (OTC: HIPH) is proud to celebrate the official signing of the 2018 Farm Bill by President Trump, paving the way for the legalization of Hemp, the plant that cannabidiol (CBD) is extracted from. The Company commends a rare act of bipartisanship between both houses of Congress enacting this legislation that will help create jobs and positively affect the lives of millions of Americans with the legalisation of the crop, removing antiquated laws that stifled inter-state commerce, many roadblocks to distribution of Hemp-infused products, including CBD have been removed.\n American Premium CEO and Interim Chairman Ryan Fishoff, commented, “Today is a monumental day for our industry. I applaud representatives of the US government for coming together to get rid of the antiquated laws around hemp that serve the best interests of the people so well. It's very telling in this polarized and partisan atmosphere we are in, both parties overwhelmingly approved this common sense legislation that is going to make doing business in the hemp industry significantly easier. This is a watershed day for the Company. Going forward, the restrictions and unfounded reservations against products containing CBD (like ours) should be lifted, giving millions of US consumers unfettered access to our products. The landscape of the market has seismically changed, and will look very different going forward.” For decades, federal law did not differentiate hemp from other cannabis plants, all of which were effectively made illegal in 1937 under the Marihuana Tax Act and formally made illegal in 1970 under the Controlled Substances Act—the latter banned cannabis of any kind, including hemp for industrial purposes. The 2014 Farm Bill opened up state-regulated pilot programs for planting “industrial hemp,” which it defined as cannabis sativa plants containing 0.3% or less THC, but since then farmers still faced several barriers to growing hemp due to federal prohibition that restricted access to banking, water rights, and crop insurance. The 2018 Farm Bill removes these restrictions putting hemp, the CBD derived from it, under the purview of the US Department of Agriculture. With the passage of the bill, the CBD market in the US is expected to grow...