Business
Hemp, Inc. to Plant Over 550 Acres of CBD-Rich Hemp Plants
Hemp, Inc. to Plant Over 550 Acres of CBD-Rich Hemp Plants.
About this update from Hemp, Inc.
[{"type":"text","content":"\n \n \n Hemp, Inc. to Plant Over 550 Acres of CBD-Rich Hemp Plants\n \n \nHemp, Inc. to Plant Over 550 Acres of CBD-Rich Hemp Plants\n \n SPRING HOPE, NC--(Marketwired - Jun 8, 2017) - Hemp, Inc. (OTC PINK: HEMP) announced today that its farming associates, who are licensed in the state of North Carolina by the NC Industrial Hemp Commission, have secured 150+ pounds of CBD-rich hemp seeds which are to be planted this weekend and/or next week. According to CEO Bruce Perlowin, the 150+ pounds of seeds equate to over 550 acres to go along with the 17 acres of high-CBD clones they are planting in North Carolina and Colorado. It will be one of, or, the largest CBD hemp grows in the United States to date. \n The company also plans on purchasing its second CBD Extractor this year. As announced in Hemp, Inc.'s last press release, the company has already purchased its first industrial NuAxon Tech CO2 Supercritical extractor from NuAxon BioScience, the manufacturer and producer of the world class, large capacity CO2 Supercritical Extraction equipment. However, with the industry's expanding CBD market and ever-increasing consumer CBD sales over the past few years, executives feel it is in the best interest of its shareholders to acquire a second extractor to capture a solid, sizeable share of the market while still in the early growth stage. \n The CBD market is expected to \"grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries -- bringing a total CBD market to $202 million last year,\" according to Forbes.com.\n David Schmitt, COO of Hemp, Inc.'s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), said they have been researching CBD extraction methods and manufacturers for the past 2 years, weighing the pros and cons of both. For its second CBD extractor purchase, executives found another manufacturer they feel would produce another superior CBD extractor that utilizes a different technology. Based on Hemp, Inc.'s research, building a CBD extractor takes extensive testing, product knowledge and continual process im...