SPRING HOPE, NC, March 26, 2018 (GLOBE NEWSWIRE) — Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, appreciates the clarity provided by U.S. Attorney Jeff Sessions in his recent statement that the U.S. Justice Department would not be pursuing small marijuana cases.
According to The Guardian, “Federal prosecutors will not take on small-time marijuana cases, despite the Trump justice department’s decision to lift an Obama-era policy that discouraged authorities from cracking down on the trade in states where the drug is legal.” Sessions told students in a speech that, Federal law enforcement lacks the resources to take on “routine cases” and will continue to only focus on gangs and larger conspiracies.
While this is good news for the cannabis industry at large, Sessions’ stance on cannabis does not include industrial hemp nor does it include kenaf – both plants are being planted and harvested by Hemp, Inc. and its strategic farming partners in North Carolina. Hemp products are high in cannabidiol (CBD) and have only trace amounts of THC – the psychoactive component in marijuana that most associate with being “high;” hemp-derived CBD products are legal to import and sell in all 50 states.
The Company issued an announcement on Jan. 5, 2018, about “Sessions’ Obsession” with marijuana and how it does not impact the industrial hemp industry. Hemp, Inc. CEO Bruce Perlowin also recently spoke with cannabis-focused media outlet ”Cashinbis” about the reasons why the U.S. government’s stance on marijuana does not affect the industrial hemp industry.
“We are encouraged by Sessions’ latest remarks but want to make it clear to the public and our shareholders that hemp products are completely legal for consumers to purchase and/or consume in the United States,” said Hemp, Inc. CEO Bruce Perlowin. “We are aggressively ramping up our operations to capture the multi-billion, dollar hemp market, which is projected to grow 700% and hit $1.8 billion by 2020.”
Hemp, Inc. announced on Jan. 4th that the Company was shipping its first purchase orders of loss-circulation material DrillWall™ and Kenaf fiber. On Jan. 25, 2018, the Company announced it had fulfilled its first purchase order for Spill-Be-Gone™, part of Hemp, Inc.’s spill-absorbent family of products. As part of the Company’s ongoing expansion of its operations, Hemp, Inc. announced on March 7, 2018, that it was set to grow up to 25,000 acres of industrial hemp this year, thus further positioning North Carolina as the epicenter of the industrial hemp industry.
Also, as you may recall, in August 2017, Hemp, Inc. announced the official launch of its NuAxon Tech CO2 Supercritical Extractor. On Nov. 2, 2017, Hemp, Inc. announced the delivery of its advanced CBD hemp oil extraction post-processing equipment, thus completing the Company’s hemp oil extraction infrastructure. Hemp, Inc. announced its consulting agreement with HQ Global Education, Inc. on March 13, 2018. In addition, the Company announced March 21, 2018, its long-term strategy to build the world’s largest hemp oil extraction infrastructure by creating joint ventures with multiple companies to house and operate their CBD extraction equipment in its 85,000-square foot facility in Spring Hope, North Carolina. The first company of these joint ventures is HQ Global Education, Inc. (OTC: HQGE), a scientific research development company.
The agreement between Hemp, Inc. and HQ Global Education, Inc. is the first step toward executing Hemp, Inc.’s strategic plan to have a joint venture between the two companies wherein Hemp, Inc. will house and operate a HQ Global Education, Inc. CBD extractor.
HQ Global Education, Inc.’s exclusive educational database is one of the largest and valuable resources in the industry, reporting on thousands of hours of research that have been accumulated, tested and verified by professionals in the field. Per the consulting agreement in cooperation with Hemp, Inc., HQ Global Education, Inc. intends to become a leading provider of the highest-quality customizable extractions of CBD oil to this rapidly-growing industry.