TAMPA, Florida, October 23, 2018 /PRNewswire/ --
Enviro-Serv Inc. (EVSV) ("EVSV") today announced expanding its reach in preparation for the anticipated nationwide legalization of hemp farming contemplated as part of the 2018 Farm Bill. The global hemp industry market size is expected to reach $10.6 billion by 2025 . In the U.S., hemp is currently a Schedule I federally controlled substance, in the same legal category as LSD, heroin, and Ecstasy. For the last four years, hemp could only be grown in the U.S. in limited quantities and only in conjunction with a university research project. Now hemp is expected to be universally removed from schedule 1 and official sanctions as a legal crop within the U.S. with the anticipated passage of the 2018 Farm Bill. In anticipation of the legalization of hemp, EVSV is preparing to bring its expertise in organic fertilizers and other potential critical necessities to the industrial hemp farming market. The company has already been in conversations with parties currently engaged in the U.S. hemp sector. In particular the company anticipates a joint venture announcement with a cannabis cultivation operation working to develop a proprietary hemp cultivar to be coming soon.
EVSV's plans to expand into the hemp market are part of the company's overall recently announced plans to expand is current service offerings. The company recently announced plans to diversify its current government focused service offerings enabling the company to win a larger share of the approximate $45 billion in contracts awarded annually under U.S. Government General Services Administration (GSA) contracts. The company plans to soon release a three-year growth plan to include a revenue object.
In conjunction with the company's new strategy comes an updated shareholder communication strategy. EVSV is transition to a new website, http://www.gsasvcs.com, a work in progress. Check back regularly to find updates as the EVSV rapid expansion strategy unfolds.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.