- Operations underway on industrial hemp fields in New Brunswick and Oregon
- United States trending toward national legalization of hemp agriculture
- Acquisition of 50 percent interest in Cash Crop Today provides successful media and branding resource
Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG) is pleased to see increasingly favorable prospects for the industrial hemp industry in the United States after the close of “Hemp History Week” (June 4-10) awareness efforts. Although the plant offers no benefit to recreational drug users, it was ensnared in legislative efforts to control its botanical sibling marijuana decades ago. Now, the veil of suspicion over guilt-by-association policy appears to be lifting.
Global Hemp Group Inc. is a company dedicated to establishing a network of harmonious hemp businesses that produce and market the plant’s products, which serve as a resource for the cannabinoid-based medicines, construction, paper and textile industries, among others. Although hemp remains classified as a federally controlled drug substance in the United States, cultivation policy experiments under Senator Mitch McConnell’s provisos in the Agricultural Act of 2014 (http://ibn.fm/BT8uM) paved the way for a broader legalization effort under the Hemp Farming Act in the 2018 Farm Bill update currently being debated in Congress (http://ibn.fm/mp7LG), which aims to federally legalize the cultivation and manufacturing of industrial hemp throughout the country.
Additionally, the United States President recently indicated that he would probably support a new bill decriminalizing marijuana at the federal level, leaving its regulation to the states if Congress passes the measure (http://ibn.fm/faTIB). Just as hemp was caught up in the drive to regulate marijuana, efforts to deregulate marijuana could prove beneficial to hemp. Thirty states have enacted laws allowing the use of marijuana for medical uses, and 37 others have passed industrial hemp-based laws (http://ibn.fm/N58dd), all in defiance of federal law.
In Canada, the outlook has been more favorable, with successes trending toward recreational-use marijuana and other cannabinoid derivatives from hemp, as legislation is expected to be finalized later this year (http://ibn.fm/Flar2). Global Hemp Group has already launched its 2018 cultivation efforts in New Brunswick hemp fields through its partnership with Marijuana Company of America (OTC: MCOA), and it recently announced a high yielding CBD hemp cultivation project being developed in Scio, Oregon.
The New Brunswick project includes 125 acres of traditional dense cropping of hemp with plans to increase it to more than 1,000 acres in the next three years. The Oregon program includes up to 35 acres of orchard style cultivation with plans to increase acreage significantly in 2019 and with potential year-round perpetual harvest cultivation in greenhouses (http://ibn.fm/jdVrr). The partners intend to analyze data collected from the vastly different cultivation styles to determine which will produce the highest yield per acre.
Global Hemp Group also announced earlier this month that it has acquired a 50 percent interest in Cash Crop Today Media, LLC, a media company that reports on the industrial hemp and cannabis market sectors. Cash Crop Today is growing rapidly and currently has a total of 1.38 million monthly website views from visitors and a traffic ranking on Alexa in the United States of 69,272, according to the company.
For more information, visit the company’s website at www.GlobalHempGroup.com
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