Business
Hemp, Inc. Expands Joint Venture Agreement with HQ Global Education, Inc. to Plant 50 Acres of Hemp in Spring Hope, North Carolina
Hemp, Inc. Expands Joint Venture Agreement with HQ Global Education, Inc. to Plant 50 Acres of Hemp in Spring Hope, North Carolina.
About this update from Hq Global Education Inc
[{"type":"text","content":"\nSPRING HOPE, NC, June 28, 2018 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced today the company’s joint venture agreement with HQ Global Education, Inc. (OTC: HQGE) to plant 25 acres of industrial hemp has been doubled to 50 acres. \n Hemp, Inc. announced June 14th that it signed a contract with HQGE to plant 25 acres of industrial hemp. Per the updated agreement, Hemp, Inc. began planting seeds of industrial hemp June 27 on 50 acres next to its 85,000 square foot hemp manufacturing and processing facility in Spring Hope, North Carolina. The hemp industry is projected to grow 700% and hit $1.8 billion by 2020, according to Hemp Business Journal. The seeds are expected to yield 4,000 pounds of hemp per acre or a total 200,000 pounds of high cannabidiol (CBD) hemp biomass. This is the first step in the collaboration between HQGE and Hemp, Inc. to grow premium hemp for the purpose of developing high-quality CBD isolates and/or distillates and/or hemp-related products for business-to-business and possible business-to-consumer marketing. Hemp, Inc.’s long-term strategy is to build the world’s largest hemp oil extraction infrastructure by creating joint ventures with multiple companies to house and operate their CBD extraction equipment in its Spring Hope multi-purpose industrial hemp processing facility. Hemp, Inc. announced in August 2017 the official launch of its NuAxon Tech CO2 Supercritical Extractor. On Nov. 2, 2017, Hemp, Inc. announced the delivery of its advanced CBD hemp oil extraction post-processing equipment, thus completing the company’s hemp oil extraction infrastructure. Hemp, Inc.’s strategic plan is to have a joint venture with HQGE wherein Hemp, Inc. will house and operate an HQGE-owned CBD extractor.  “We have done our due diligence preparing the land for seed and are proud to announce that we began planting this week,” said Hemp, Inc. CEO, Bruce Perlowin. “Increasing the acreage we are planting as part of our agreement with HQ Global Education, Inc. reflects our shared commitment to position ourselves on the forefront of the rapidly expanding CBD market.” Hemp, Inc. also recently ann...