- U.S. legislation to legalize industrial hemp makes significant headway in Congress
- Non-psychoactive cannabidiol (“CBD”) extracted from industrial hemp expected to become a $1 billion market by 2020
- Industrial hemp increasingly seen as an economic boon for farmers seeking alternative agricultural revenue sources
- Cash Crop Today Investor and Business Resource Summit delivers successful launch during U.S. Hemp History Week
Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG) has a vision when it comes to industrial hemp – “One world, one plant.” This seemingly simple statement about an ancient plant with so many beneficial uses is ringing true to investors, business owners and entrepreneurs. Global Hemp Group CEO Charles Larsen notes that rising interest in the value of industrial hemp could be seen at the first Cash Crop Today Investor and Business Resource Summit (“IBRS”), held June 8-9 in Beverly Hills, California.
Global Hemp Group recently acquired a 50 percent equity interest in Cash Crop Today Media, LLC (http://cnw.fm/3tZM5), which hosted the event that attracted various innovators in the industrial hemp and cannabis industries. Industrial hemp is used to make everything from apparel and foods to body care products and building materials, along with pharmaceutical and wellness products containing the non-psychoactive cannabidiol (“CBD”) extract.
“The first Investor and Business Resource Summit was a great success,” Larsen said in a news release heralding the summit that provided multiple perspectives from industry pioneers. “This was a unique opportunity to bring investors, entrepreneurs and business owners together to network and learn about the industry. We look forward to hosting the next IBRS later in the year.”
Held during U.S. Hemp History Week (June 4-10), the summit delivered intimate, in-depth discussions on licensing and permits, wholesale, distribution and financing options, as well as grounded advice for launching a prosperous business in the rapidly emerging industry. The event’s timing also coincided with legislative action taken on June 13 by the U.S. Senate Agriculture Committee. The 20-to-1 vote to endorse the Farm Bill, also known as the Agriculture Improvement Act of 2018 (http://cnw.fm/WRg82), would move hemp out of its current Schedule I drug status and make it legal for the nation’s farmers to grow the versatile plant. While more legislative action is needed to move the bill through Congress, industry leaders are hopeful that it will be expedited, since the current version of the Farm Bill is set to expire on September 30.
It looks like the world of hemp in the U.S. is about to enter a new phase, and Global Hemp Group is making its mark in this exciting new sector (http://cnw.fm/qURX4).
Global Hemp Group is creating a strong presence in the industrial hemp industry, both in the United States and Canada, as it focuses on corporate acquisitions and joint ventures across all sectors of the hemp industry. Global Hemp Group’s portfolio features networked “soil-to-shelf” businesses that share its commitment to revitalizing and strengthening hemp’s reputation as a valued agricultural resource.
For more information, visit the company’s website at www.GlobalHempGroup.com
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