HOUSTON, TX / ACCESSWIRE / April 25, 2019 / Big things are happening in the cannabis space.
Canada legalized it throughout the country. More U.S. states have approved its use. Corporate America is just beginning to invest in it, including retailers, alcohol companies, health, wellness and beauty. Congress is pushing forward with new legislation. President Trump signed the Farm Bill into law. Cannabis M&A is picking up momentum. Even the global community has been quick to embrace medicinal cannabis.
We've even seen sales estimates soar. For example, Arcview Research and BDS Analytics forecast 38% global growth in 2019 to $16.9 billion. Analysts at Cowen Group forecast $75 billion in sales by 2030.
As a result, growers are racing to increase production levels to meet demand.
"There are huge challenges to producing the industrial hemp required for meeting the demand," said George Weiblen, a professor at the University of Minnesota, as quoted by CNBC. "It's not as simple as growing tomatoes. It's just not. The possibility of failure to produce quality cannabis extracts is huge."
As the momentum just begins to build, some of the top beneficiaries include MYM Nutraceuticals Inc. (CSE: MYM)(OTCQB: MYMMF), Village Farms International (TSX: VFF)(NASDAQ:VFF), and Cannabis Science Inc. (OTC PINK:CBIS).
MYM Nutraceuticals (MYM)(MYMMF)just announced the formation of MYM One World LLC to create a joint multi-year cooperative agreement between MYM and Aqueous Sciences, a subsidiary of One World Ventures Inc (OWVI). The company's mandate is to cultivate, extract and distribute 3,000 acres of hemp on Navajo Nation land located near the four corners area of Colorado, Arizona, Utah and New Mexico, USA.
"Our partnership with Aqueous to cultivate 3,000 acres of CBD-rich hemp has taken another step forward today with the formation of MYM One World LLC", said Howard Steinberg, CEO of MYM. "Our team is currently preparing the fields for the 2019 growing season. We're looking forward to exceeding the results of last year's test crop that was successful in growing an abundance of CBD-rich hemp".
Aqueous is providing all labor, site management, and other resources as necessary to operate the business. Aqueous will ensure all regulatory approvals and compliance necessary to successfully cultivate legal hemp plants upon the Navajo Nation. MYM is providing expertise and support in growing procedure, import/export facilitation, access to its research and development team, and distribution.
For More Information on MYM Nutraceuticals, Inc. Click Here.
Village Farms International (VFF) recently created a joint venture with Nature Crisp for the outdoor cultivation of CBD hemp and CBD extraction in multiple U.S. states. The venture, Village Farms Hemp is finding locations where it will initially establish its hemp cultivation and CBD-extraction operations. The JV plans to start hemp field cultivation in spring 2019 and to have 500 to 1,000 acres in production during 2019.
"Since passage of the 2014 Farm Bill, we have recognized the significant potential for hemp and hemp-derived CBD, and have immersed ourselves in understanding the hemp plant and applying and refining our proven cultural practices, gaining profound knowledge with our 300-acre field crop last year," Phillip Jennings, III, chief business officer of Village Fields, said.
In addition, the company announced that its Delta 3 greenhouse in Canada, operated by Pure Sunfarms is now in production. It's expected to deliver annualized production capacity of 75,000 kilograms this year.
For More Information on Village Farms International, Click Here.
Cannabis Science Inc. (CBIS) is in negotiations to license the Company's U.S. patent number 9,763,991 for the Compositions of Cannabinol (CBN) for Treatment of Various Neurobehavioral Disorders, including Anxiety, Sleep Disorders, PTSD and more.
At the moment, the Company is in the process of getting a third-party, independent valuation to establish the value of its CBN patent for the Canadian, U.S., European, and global markets for the purpose of licensing other organizations to develop and sell CBN product lines under the protection of the Company's U.S. patent. This validation is a required step when dealing with larger organizations for such a potentially large transaction.
For More Information on Cannabis Science Inc., Click Here.
Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from aressed or implied by such statements. Winning Media which has a partnership with www.WallStreetNation.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.WallStreetNation.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of WallStreetNation.com) and MYM Nutraceuticals Inc., Winning Media has been paid four thousand dollars for advertising and marketing services for MYM Nutraceuticals Inc. We own ZERO shares of MYM Nutraceuticals Inc. Please click here for full disclaimer.
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