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Cannabis Real Estate Firm BANGI Receives Michigan Hemp Production License

Nina Zdinjak

Cannabis-oriented real estate firm BANGI, Inc (OTC: BNGI) announced Friday that it's one of the first companies to be issued an industrial hemp production license in the state of Michigan.

Bangi is a real estate company focused on acquiring specialized assets such as hemp and cannabis farms; its name means “hemp” or “marijuana” in Swahili.

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The license is an important step toward Bangi's goal of becoming a substantial provider of real estate, cannabis and cannabinoid products, Bangi Chairman and CEO Dr. Neil Parsan said in a statement. 

“This license will enable the development and distribution of hemp cultivation and hemp-derived CBD production while also enhancing the overall value of certain properties that we are currently seeking to acquire and incorporate within the BANGI platform." 

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