Business
SanSal Wellness and Veritas Farms Applauds Passage of 2018 Farm Bill That Will Legalize Industrial Hemp
SanSal Wellness and Veritas Farms Applauds Passage of 2018 Farm Bill That Will Legalize Industrial Hemp.
About this update from Veritas Farms Inc.
[{"type":"text","content":"\nFort Lauderdale, FL, Dec. 14, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SanSal Wellness Holdings, Inc. (“SanSal Wellness” or the “Company”) (OTC PINK: SSWH), a vertically-integrated agribusiness focused on producing full spectrum natural phytocannabinoid-rich industrial hemp extracts, is pleased to report to shareholders that both the U.S. Senate and House of Representatives have overwhelmingly approved the passage of the 2018 Farm Bill which contains provisions for the legalization of industrial hemp at the federal level with its removal from the Controlled Substances Act and making it a regular agricultural crop.  With wide bipartisan support, President Trump is expected to sign the historic new Farm Bill into law before year-end.  \n Alexander M. Salgado, CEO and co-founder of SanSal Wellness, commented, “For the SanSal Wellness farm and processing operations and our Veritas Farms brand of full-spectrum hemp extract products, the importance and momentum boost of this news cannot be understated.  Following approval from the Senate and now the House, the signing of the 2018 Farm Bill into law will finally bring an end to the legal uncertainties regarding industrial hemp and enable all American farmers to grow, harvest, and produce industrial hemp products just like any other agricultural commodity as we once did very successfully for more than a century prior to 1937.  We expect this to be a huge win for American farmers, the Company, and the entire hemp industry.” Industry experts forecast that legalization will be a catalyst for mainstream awareness and acceptance of industrial hemp uses and products, and potentially could drive sector revenue growth in excess of $20 billion annually by 2022.   “From a business opportunity perspective, with industrial hemp now treated like any other agricultural product, we expect several key roadblocks that have slowed growth to be removed, namely free access to the federal U.S. banking system, unrestricted interstate commerce, access to federally backed farm support programs, and the ability potentially leverage more mainstream online and brick-and-mortar distribution channels like Amazon, Walmart, and countless drug stores, medical offices, and wellness clinics across the country.” Mr. Salgado concluded, ...