Business
For The Earth Announces New State-of-the-Art CBD Extraction Facility in Oregon
For The Earth Announces New State-of-the-Art CBD Extraction Facility in Oregon.
About this update from For The Earth Corp.
[{"type":"text","content":"\nPHOENIX, AZ, Feb. 26, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – For The Earth Corporation (the “Company” or “FTEG”) (OTCMKTS: FTEG) is excited to announce immediate plans for the establishment of a new state-of-the-art CBD extraction and production facility to be located in Eugene, OR. The facility will complement the Company’s already-established retail CBD footprint, which includes mall stores, mall kiosks, vending machines, and e-commerce storefronts, with physical locations in both Las Vegas and New York City.\n “We see For The Earth as an integrated CBD producer and retailer in the making,” stated Nelson Grist, CEO of FTEG. “In more mature industries, the value is in strategic partnerships and collaboration, but CBD is a frontier industry – as is anything related to cannabis right now. That means the lion’s share of the value lies in getting the best deals up the supply chain. There’s no better way to ensure the best possible pricing and dependability into the storefront than to buy from yourself.” Management notes that estimates for growth in the CBD space have been sharply boosted by the signing of the 2018 Farm Bill into law, with some research and analysis firms now anticipating well over $20 billion in total CBD sales in North America over the next 3 years, representing more than a 20-fold increase from current levels. “We have a lot of faith in the end-demand projections for this market because the vast majority of Americans haven’t discovered CBD yet,” continued Mr. Grist. “As more and more do, this market will suddenly seem vastly undersupplied, and we will have a direct route from extraction facility to end market consumer with no wildcards along the way. We love that positioning model and see a clear path to making it happen. We are getting started on the Eugene project and look forward to keeping our shareholders posted as it progresses.” About For The Earth Corporation For The Earth Corporation is an emerging integrated CBD producer and retailer in the United States. The Company is in the process of establishing a vertical framework that will extend from cultivation to extraction and production to a strategic retail footprint that includes multiple locations in Las Vegas and New York featuring mall kio...