Business
Hemp Seed Update
Hemp Seed Update.
About this update from Chill Brands Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 6773T\n Zoetic International PLC\n 22 July 2020\n \n \n \n \n THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n Zoetic International plc \n \n \n (\"Zoetic\" or the \"Company\")\n \n \n Hemp Seed Update\n \n Milestone partnership with GVB Biopharma\n Termination of lease for Colorado facility\n Agreement reached on Joint Venture with European partner\n \n Highlights\n \n ·Expansion of the Company's seed testing programme as partnership agreed with specialist firm GVB Biopharma.\n \n \n · Termination of the lease for the Company's Colorado production facility, reducing high ongoing costs.\n \n \n · Joint Venture established with a European partner to establish a new base for cultivating the Company's high quality hemp seeds.\n \n Expansion of seed testing programme\n Zoetic is pleased to announce a partnership with cannabinoid research experts GVB Biopharma (\"GVB\"). The Company is confident in the value and strong cultivation potential of its seeds, and with its ongoing commitment to ensuring the highest quality products is now taking the additional step of verifying the quality of its base CBD assets through measurable channels.\n With a bank of 40,000 feminized hemp seeds already under the care of GVB, planted in USDA certified ground, this growing season presents an opportunity to gather extensive data relating to their cultivation viability, along with the production of high-calibre CBD isolate. With Zoetic's seed stock due to be cultivated and tested in outdoor facilities, this represents the first large scale commercial hemp study and is a landmark achievement for the Company in its efforts to validate its genetic base.\n Armed with the commercial intelligence generated both from GVB's research and the continuation of the existing testing programme by US universities, Zoetic will be well placed to accelerate its ongoing global product rollout whilst avoiding the reported difficulties faced by certain Kentucky and North Carolina based competitors with what appears to be genetically deficient hemp seed stocks.\n \n ...