- Joint venture with MCOA establishing hemp farms in U.S. and Canada
- CBD hemp propagation phase and the development of outdoor-indoor facilities to maintain year-round cycle
- Oregon farm covers 109 acres; greenhouses will add 19,296 square feet of indoor production space
Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF), a company dedicated to building a portfolio of hemp-friendly businesses intent on producing the ancient crop renowned for its use in paper, textiles, rope and building materials, is celebrating the recent property acquisition and the advancement of its farming operations in Scio, Oregon.
“Garden operations are well underway at the farm. The initial nursery and propagation rooms for clones has recently been expanded to an additional attached greenhouse as the team continues to produce clones for planting in the current season,” the company stated in a May 15 news release (http://nnw.fm/o9csD). “In order to maximize planting density, an additional 20,000 high yielding CBD hemp clones are being purchased and will be delivered before the end of May to meet the targeted planting schedule of early June.”
Global Hemp Group was founded in 2014 with Canadian headquarters in Vancouver, British Columbia, and additional base operations in Montreal and Los Angeles. Its hemp cultivation efforts are initially focused on the production of high quality sustainable raw materials and non-psychotropic cannabidiol (CBD) oil, as well as other cannabinoids, with no intoxicating effects. Global Hemp Group’s collaboration with other companies is an integral part of its aim to eventually implement its Hemp Agro-Industrial Zone (HAIZ) concept, under which it will cultivate hemp for additional value-added industrial products as it explores the profit potential of construction materials and other uses.
The Oregon farming project is taking place with the assistance of joint venture partner Marijuana Company of America, Inc. (OTC: MCOA) and involves planting of approximately 30,000 clones on 35 acres. Five additional greenhouses have been purchased in order to increase the project’s productivity through perpetual productivity indoors when the outdoor growing season wanes. Two of the greenhouses are being installed, and the remainder will begin installation before the end of May, adding 19,296 square feet of active indoor space for cultivation.
“This dual strategy will optimize revenue generation throughout the year to minimize the impact of single crop harvesting in October when most other hemp CBD farms harvest and typically drive prices down,” the news release states.
The Oregon field and greenhouse work join the partners’ traditional dense field cultivation project in New Brunswick, Canada. The lower yielding CBD cultivars there have been reintroduced to the region for the first time in 20 years as part of the companies’ plan to resume large-scale commercial hemp production and to establish a nearby processing facility. Last year’s initial cultivation research in New Brunswick will aid the company in determining the optimal yield per acre for both the United States and Canada sites.
Canada is working steadily toward fulfilling a government mandate legalizing all uses of the cannabis plant before the end of the year, which will also include cannabinoid extraction from the flowers and leaves of the hemp plant. Cultivation of the industrial hemp plant in the U.S. has some form of legal recognition under a majority of the states’ legislatures. Earlier this year, there was welcomed news that the United States Congress is considering an updated Hemp Farming Act that would remove the non-psychoactive plant from the Drug Enforcement Administration’s listing of controlled substances (http://nnw.fm/bI89V).
For more information, visit the company’s website at www.GlobalHempGroup.com
More from NetworkNewsWire
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
No comments:
Post a Comment