Business
Marijuana Company of America and Global Hemp Group Provide Update on Oregon Hemp CBD Farming Project
Marijuana Company of America and Global Hemp Group Provide Update on Oregon Hemp CBD Farming Project.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\nESCONDIDO, Calif., July 31, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – MARIJUANA COMPANY OF AMERICA INC. (“MCOA” or the “Company”) (OTC: MCOA), an innovative hemp and cannabis corporation, and its joint venture partner Global Hemp Group Inc. (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) (the “Partners”) are pleased to provide an update on their high yielding CBD hemp farming project in Scio, Oregon (the “Project”).\n The 2018 hemp cultivation at the Scio, Oregon farm, operating under the name Covered Bridge Acres (CBA), is well underway. Although field work at the project started later than expected due to delays in closing of the farm acquisition and various personnel changes, our highly experienced team was able to complete two and a half months of field prep in just four weeks. As a result, approximately 40,000 high CBD yielding hemp plants were planted on the lower two fields of the farm, on approximately 33 acres. Six different high CBD yielding hemp cultivars were planted this year and are growing very well. Half of the cultivars planted were clones and the other half were grown from seeds and were planted when they were approximately two feet high. The results of these cultivars will be measured at harvest time to determine the best yields and planting strategy for next season. With the planting now complete, our team of seven full time staff has now turned their focus to completing the construction of the five greenhouses that were acquired earlier in the year. Once assembled, the project will have more than 19,000 sq. ft. of active greenhouse space for research and clone production for the 2019 planting season, which will expand to a minimum of 70 acres directly on the CBA property, and the potential for year-round harvest as the project continues to expand its greenhouse space going forward. In addition, as many neighboring farms have expressed interest in growing hemp, Management is looking at ways to either partner with or contract them, similar to the model being used on the Partner’s 125-acre New Brunswick hemp farming project. The Partners have recently implemented a number of changes to the Project. Jeffrey Ward has joined the team as the new Farm/Project Manager, replacing TTO Enterprises Inc. The Partners acquired TTO’s 15% interest in the proj...