- Joint venture project with Global Hemp Group Inc., an industrial hemp company based out of Canada
- New field manager has extensive experience in agriculture, strong ties with the farming community
- Contracts signed initially with four farmers who have already started seeding a 125-acre industrial hemp crop
The industrial hemp project in northeast New Brunswick, Canada, is now underway following the hiring of a fulltime agrologist and field manager and the initial signing of four farmers, innovative hemp and cannabis corporation Marijuana Company of America, Inc. (OTC: MCOA) announced in a recent press release with joint venture partner Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) (http://nnw.fm/jU2aO). The New Brunswick Hemp Project focuses on the development of an industrial cluster surrounding hemp crops, so as to ensure year-round manufacturing opportunities and a steady market for farmers. This would be part of a wider goal to eventually establish a Hemp Agro-Industrial Zone that is expected to provide a constant revenue stream for both joint venture partners.
To oversee field operations and provide crop expertise, the partners have hired Joan Parker-Duivenvoorden, who boasts a bachelor of science in agriculture with a major in plant protection, along with more than 15 years of experience with the Nova Scotia Department of Agriculture and the New Brunswick Soil and Crop Improvement Association. Parker-Duivenvoorden has established strong ties with the local farming community, which will prove advantageous once the joint project expands from its initial group of four farmers to more than 50 over the next few years, the press release notes. The new field manager will oversee the local project but also provide advisory services to participating farmers, develop training materials for future participants and run research projects to monitor the behavior of different hemp varieties in varying environments. Parker-Duivenvoorden’s long-term goal at the project is to develop a profitable organic hemp crop rotation, possibly paving the way to the production and processing of cannabidiol (CBD).
The partners have also secured a 4,000 sq. ft. facility to house biomass storage and drying equipment. Dried material will also be stored here before being processed by third party processors. Once the partners obtain licenses needed to import and manufacture finished CBD products, the facility may serve as a distribution hub for Marijuana Company of America’s hempSMART™ and Benihemp product lines. Additionally, contracts have already been signed with an initial group of four farmers, who have already started to seed a 125-acre industrial hemp crop. Located throughout the northeast of New Brunswick, these farmers will provide relevant data on the behavior of crops across the region, which is expected to facilitate the recruitment of more participants in the coming years.
The New Brunswick Hemp Project is one of the two hemp cultivation programs that Marijuana Company of America and Global Hemp Group are running together. The other is a 109-acre property in Scio, Oregon, which has a high level of organic matter in the soil, making it ideal for hemp cultivation. The property, purchased for $1.1 million, already has a history of hemp cultivation in the last two growing seasons.
MCOA’s focus is on the product development, manufacture and distribution of legal hemp-based consumer products that are marketed under its proprietary brand name, hempSMART™. The company produces a range of CBD-based nutritional and botanical supplement products from high-quality hemp extracts, including a pain relief product called hempSMART Pain, which is also available as a cream-based topical, an ayurvedic nootropic product called hempSMART Brain, hempSMART Full Spectrum Drops and hempSMART Pet Drops. The company has also developed an affiliate marketing program for the promotion and sale of its hemp-based, CBD-infused products.
With a focus on hemp cultivation and the manufacturing of related products, especially in light of a recent Congress bill seeking to remove industrial hemp from the list of Schedule 1 drugs, Marijuana Company of America is uniquely positioned to capture a significant share of the market by developing recognizable and high-quality brands, with the goal of offering increased value for its shareholders.
For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
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