THC Farmaceuticals Inc Enters Into Partnership With HEMPCIGNET
THOUSAND OAKS, CA /ACCESSWIRE/ January 31, 2020 THC Farmaceuticals, Inc (OTC: CBDG) today announced that a partnership of HempCigNet has been established for the purpose of distributing Hemp Cigarettes. The partnership Plans to Begin Deployment of Hemp Cigarettes Vending Kiosks Through Licensed Medical Marijuana Dispensaries.
On November 15, 2019 the Company entered into an agreement with HempCigNet, Inc., a Colorado corporation. HempCigNet, Inc was incorporated for the purpose of this agreement and to enter the Cannabis L. (HEMP) and/or Cannabis Sativa and/or Cannabis Indica cigarette vending business for placement in licensed dispensaries. The Company resolved to issue HemCigNet Inc., 1,000,000 of its common shares as paid in capital as well as a private party has transferred 10,000,000 shares of mCIG, Inc., (OTC: MCIG) into HempCigNet so that each party will own 50% of HempCigNet, Inc.
Recent Brightfield Group report indicated that the 2018 Farm Bill brought immense change to the industrial hemp world, legalizing the cultivation of hemp and opening the floodgates for a brand-new CBD industry. With the move of hemp from the Controlled Substances list to an agricultural commodity, numerous companies had the confidence to enter the CBD space. Q2 saw large retailers like CVS and Walgreens introduce CBD products in select states, signaling to the rest of the country that CBD is going mainstream. 2019 has shaped up to be a massive year for cannabidiol (CBD), leading to just over a $4 billion industry by end of year – a 562% increase over 2018. By 2025, Brightfield Group estimates that the total U.S. CBD market could reach $24.4 billion. As CBD has transformed from a niche product to a full-blown, more normalized (and less stigmatized) mainstream wellness product available in various known retail channels, it is reaching tens of millions more consumers across the age, gender, regional, and political spectrum.
Hemp Cigarettes are One of the Fastest Growing Segments of the developing hemp industry. Hempcignet will only sell cigarettes made from US grown Hemp that will be nicotine and tobacco free and contain not more than 0.3% THC. Initial observational studies suggest that smoking hemp cigarettes could be a potential tool to reduce tobacco and nicotine lethal addictions.
About THC Farmaceuticals, Inc
THC Farmaceuticals, Inc.: (OTC: CBDG) owns and operates ATMs placed in high-traffic commercial areas in Utah. Through CBDual Biotechnology -CBDG has expanded its operations to include businesses and intellectual properties related to the cannabis industries. CBDual Biotechnology Corp., is a pharmaceutical start-up company focuses on developing products based on cannabidiol (CBD) and/or Tetrahydrocannabinol (THC). The company's facility is located in Southern California where we provide easy access for patients to participate in clinical trials of new medical cannabis medications, therapies, and products. CBDual Biotechnology Corp is a privately held, US Based Biotechnology company with propriety technology for enhanced oral delivery of bioactive cannabindoids. This technology promotes overall oral health due to higher effectiveness of the delivery methodology. The company was founded in 2016 and is headquartered in California, with its R&D in the US and Israel.
Recently the company formed partnership with Hempcignet, Inc. ( www.hempcignet.com) to engage in growing hemp cigarettes market niche as an alternative to nicotine and tobacco products.
For additional information visit the company's website: http://cbdual.com and
http://cbdg.com/ Follow us on Twitter @THCFarma and @CBDualBiotech
Forward-Looking Statements:
This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by our parent company in its reports filed with the Securities and Exchange Commission and the OTCMarkets, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.