HOUSTON, TX / ACCESSWIRE / January 7, 2019 / President Trump's State of the Union was one for the ages.
In it, he spoke of the "unprecedented economic boom" he helped usher in, including 5.3 million new jobs, 600,000 new manufacturing jobs, wages rising at their fastest pace in decades, and the fact that unemployment is now sitting at its lowest rate in decades.
In that speech, the President also highlighted the new 2019 U.S. Farm Bill.
While the bill does not legalize recreational or medicinal use of marijuana at the federal level, it will legalize hemp, officially taking if off the Schedule I list and allowing it to be "cultivated for any use," including the production an extraction of cannabidiol, or CBD. Hemp will be classified as a regular agricultural crop, meaning that U.S. growers can cultivate it and sell it.
The Yield Growth Corporation's (BOSS)(BOSQF) for example, just announced that its e-commerce platform will now sell its Urban Juve cannabis Sativa hemp root oil-based products in the United States thanks to the adoption of the 2017 U.S. Farm Bill.
In fact, its products are now available for sale in the U.S. through www.urbanjuve.com. In addition, the company has plans to sell its products through U.S. retailers such as pharmacies, naturopaths, clinics, salons, spas, wellness and beauty stores.
"U.S. distribution is a cornerstone of our sales strategy for all our brands. Already we have a deal in place to sell our THC and CBD infused products through a 400-retail distribution network in Oregon, and now we have launched U.S. e-commerce sales for our Urban Juve products," says Yield Growth CEO Penny Green, "Our next step is to set up sales agents in California to access the world's largest cannabis market."
At the moment, The Yield Growth subsidiaries are developing and manufacturing a wide range of other personal care products containing hemp root oil and various cannabinoids. In addition, The Yield Growth is currently seeking to obtain necessary licenses to process cannabis and manufacture cannabis products in multiple jurisdictions where such products can be sold.
Cronos Group Inc. (CRON) also pushed higher thanks to the 2019 US Farm Bill. In addition, analysts at CIBC initiated coverage with an outperform rating and a $22 target. "Our view is that the strategies deployed by these companies combined with their strong balance sheets make these companies the most likely to attain the status of industry titan," they noted.
For More Information on Cronos Group Inc., Click Here.
Aurora Cannabis Inc. (ACB) was another beneficiary of that bill. In addition, it recently acquired Europe's largest producer, processor and supplier of organic hemp and hemp products, Agropro UAB, and hemp processor and distributor Borela UAB. All as Aurora seeks to extract, refine and produce organic hemp biomass into a number of CBD-based wellness products.
The company also made headlines in December 2018 after announcing it entered into an agreement to invest $10 million through a brokered private placement in High Tide Inc., a private cannabis and lifestyle accessories retailer.
For More Information on Aurora Cannabis Inc., Click Here.
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