White House has approved plans to regulate hemp and its derivatives.
Las Vegas, NV, Oct. 31, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers, including the largest multipurpose industrial hemp processing facility in the western hemisphere, announced today its support of the White House’s approval of plans to regulate hemp and its derivatives, signing off on interim final rules for the crop that were submitted by the U.S. Department of Agriculture.
In addition to Hemp, Inc.’s 85,000 square-foot multipurpose industrial hemp processing facility in Spring Hope, North Carolina, the Company operates a state-of-the-art processing center in Medford, Oregon, and a 500-acre hemp growing Eco-Village in Golden Valley, Arizona.
The Company will be launching KING OF HEMP® pre-rolls later this year; this is one of the first trademark registrations to issue in the PTO’s post-Farm Bill era of allowing trademark registrations on products containing less than .3 percent THC and the first trademark registration for “hemp cigarettes.”
“We have come such a long way since the decades-long ban on hemp. From lifting the ban, to the first harvest in 80 years, we are getting closer to receiving clarity on an array of hemp-specific policies such as safety and quality control standards, so this will be a game-changer for the industry,” said Hemp, Inc. CEO Bruce Perlowin. “This is going to be great for growers, especially small farmers. They’ll benefit from the expansion of crop insurance, standards and infrastructure that can be built out based on the sheer certainty that comes with uniform regulations.”
The details of this plan have not yet been disclosed, however they are expected to provide clarity on an array of hemp-specific policies ranging from THC potency testing guidelines, banking, and quality control standards.
The signing off on these rules comes after a difficult harvest season, in which growers, especially small hemp farmers have found it challenging to navigate regulatory uncertainty and the post-harvest process. The cannabidiol (CBD) market is on track to grow to $23.7 billion through 2023, according to Brightfield Group.
The firm also estimated the smokeable hemp market to be valued at $11.5 million in 2018, a growth of 250% from 2017.To see 1-minute videos of Hemp, Inc.’s current activities, go to Bruce Perlowin’s personal Facebook page where he posts daily on all of Hemp, Inc.’s activities around the country.
WHAT IS HEMP, INC.?
What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. As a leader in the industrial hemp industry with ownership of the largest commercial multi-purpose industrial hemp processing facility in North America, Hemp, Inc. believes there can be tangible benefits reaped from adhering to a corporate social responsibility plan.
FORWARD-LOOKING DISCLAIMER AND DISCLOSURES
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. To clarify the issue of OTC placing a stop sign next to Hemp, Inc.’s stock trading symbol, that symbol indicates Hemp, Inc. does not report their financials. As a non-reporting pink sheet company, Hemp, Inc. is not required to report. The company does, however, choose to publicly report its quarterly and yearly financials on its website. According to the company’s CEO, the OTC stop sign is a misrepresentation of that reporting fact. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.