by Bruce Perlowin | Dec 19, 2018
“It is no surprise that the legalization of hemp is creating a media whirlwind – and Hemp, Inc. is at the center of it,” said Hemp, Inc. CEO Bruce Perlowin. “This signifies a momentous occasion in U.S. history. Our multi-state operations allow us to work with farmers across the nation, and we are confident this legislation will be a boon for the small family farm and U.S. economy as a whole.”
Recent news coverage including comments from Hemp, Inc. CEO Bruce Perlowin about the impact legal hemp will have on the U.S. economy and farmers nationwide include:
Some expect the global industrial hemp industry to hit $20 billion by 2022. Until recently, the U.S. has imported on average $100 million worth of hemp products each year, according to Congressional Research Service. Legalization will allow American farmers and companies to tap that market.
Read the full story here – How Hemp and the Farm Bill May Change Life as You Know It,” Dec. 17, 2018
Bruce Perlowin – “This media exposure makes people aware of Hemp, Inc.’s mission and vision and what we’re currently doing. This is very important because we look for joint venture partners where hemp can be grown,” says Perlowin. In the wealth of coverage Hemp, Inc. received, in anticipation of President Trump’s signing the bill into law, Perlowin describes the tremendous amount of opportunities that hemp production creates for the small family farm, local communities, the U.S. economy, and a myriad of industries.
“Our strategy has been to partner with farmers across the country in states where hemp cultivation and manufacturing is legal to provide them with the infrastructure needed to make a profit off this incredible crop, and this bill will be an incredible boon for the American small family farm,” Hemp, Inc. CEO Bruce Perlowin told Forbes. “The health and wellness industries are in for a major overhaul with the massive research and development and exploration into CBDs, CBGs, CBNs and 113 other cannabinoids as well as some 300 terpenes found in the industrial hemp plant.” More than 25,000 products can be produced with hemp, ranging from construction materials to cannabidiol (CBD) products used to treat various ailments and improve wellbeing.
Hemp, Inc. also has entered into an agreement with 2 Manifest Studio, LLC, a Wyoming, Limited Liability Company (VED), to create a documentary and subsequent docuseries over the course of an estimated five years. Per the terms of the agreement, VED will create a feature-length film, docu-series and other video materials about the history of hemp with a strong focus on Hemp, Inc. and other pioneers and companies that are leaders in the modern-day history of industrial hemp.
HempInc.com
This story first appeared here – https://apnews.com/b0c8faa8411d144f57a26f2a2ce4bae3
by Chris Husong | Dec 11, 2018
After looking through several News Reports on the signing of this Farm Bill, The House of Representatives and Senate have put forth the 2018 Farm Bill which includes all the language known as Hemp Farming Act of 2018.
Now that the 2018 Farm Bill has emerged from Congress, hemp will be decoupled from it’s cannabis cousin, marijuana, and permanently removed from the Controlled Substances Act. Farmers will be able to apply for crop insurance as with any other agricultural commodity
DENVER, Dec. 11, 2018 (GLOBE NEWSWIRE) The House of Representatives and Senate have put forth the 2018 Farm Bill which includes all the language known as Hemp Farming Act of 2018.
Hemp Farming Act of 2018 inclusion in the final version of the Farm Bill is a major victory for hemp CBD companies like Elixinol
The new 2018 Farm Bill makes provisions to remove hemp from the federal list of controlled substances and removes any federal regulations preventing farmers from growing and selling hemp as an agricultural commodity. Hemp farmers would also be eligible to collect crop insurance.
While the Senate passed its version of the 2018 Farm Bill with the Hemp Farming Act of 2018 attachment with bipartisan support on June 28, 2018, the House’s version did not include the Hemp Farming Act of 2018 attachment.
According to the Hemp Business Journal, in 2017, U.S. hemp sales reached $820 million with hemp CBD and hemp food products making up $327 million of the total and projections see U.S. CBD sales reaching $2.1 billion by 2020, even before the passage of the 2018 Farm Bill.
The language provides the entire supply chain with certainty and enables businesses of all sizes and types to source hemp for food, building materials and textiles from U.S. crops.
“Hemp is a positive contributor to the U.S. economy and culture. Hemp is a clean agricultural product and has great potential to enhance our collective wellness and global environment,” said Gabriel Ettenson, President of Elixinol.
“The Farming Act, if signed into law, provides much-needed certainty so hemp farmers and hemp businesses can provide the goods people want,” Ettenson continued.
The Hemp Farming Act includes provisions to remove hemp from the federal list of controlled substances and removes any federal regulations preventing farmers from growing and selling hemp as an agricultural commodity. Hemp farmers would also be eligible to collect crop insurance.
Through partnerships and joint ventures like the NCHPP, announced in June 2018, Elixinol already grows industrial hemp in Colorado for CBD hemp-derived products. But for companies like Elixinol who are expanding their need for domestic U.S. hemp, the law provides assurances that demand for CBD products will grow and a solid U.S.-based supply chain will be in place for the foreseeable future.
“We’ve been in agriculture for decades, but we’re new to hemp. We’ve been following Colorado regulations to the letter, it’s a relief to know that hemp farming now has the benefits of the federal agricultural policy and clear federal guidelines too,” said Jason VonLembke, Vice President of Land and Resource Management for the NCHPP partnership which provides Elixinol with raw hemp in Colorado.
Advocating for the passage of the Hemp Farming Act, the Senate’s measure noted “the value of hemp imported into the United States for use in the production of other retail products is estimated at approximately $76 million annually.” “It’s ideal to source hemp for U.S. products in the U.S., it reduces costs and adds to the U.S. economy.
Elixinol has secured our “seed-to-sale” supply chain in Colorado, but we support hemp farming throughout the United States and see this language as a positive step for U.S. hemp businesses and the U.S. economy,” continued Ettenson.
“But, what this means for the consumer, is it’s more important than ever that the consumer look for the raw material from a state-licensed grower is extracted using a non-toxic process under GMP standards, and the end product is third-party tested,” continued Ettenson.
Many media outlets currently restrict hemp-derived products from advertising on their platforms. Those restrictions are expected to be lifted with the removal of hemp as a controlled substance following the signing of the Bill.
Media Contact:
Chris Husong
Elixinol
+1 844-804-3504 ext 420
[email protected]
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/1da91e3c-56e4-441f-9783-4a0200017e7b
by HempingtonPost | Nov 14, 2018
State ballots and the departure of Jeff Sessions have led to fresh confidence in the cannabis sector.
- The cannabis industry is going through a period of huge growth.
- Two states recently voted to legalize medical cannabis and one voted to legalize recreational cannabis.
- The departure of Jeff Sessions removes a significant block for the industry.
- A variety of strategies—some focused on product and others on support services—are emerging to make the most of this market.
Cannabis companies are in a jubilant mood following the results of last week’s events in American politics. At the polls, two states voted to legalize medical cannabis while another voted to permit its recreational use. Though Congress lost several pro-cannabis Republicans, a majority for the Democrats, America’s less conservative party, is a good omen for reform. And with President Trump’s sacking of Jeff Sessions, the country is now rid of a staunchly anti-cannabis attorney general.
This opens the way for companies with strong cannabis strategies to make bold moves in the coming year. From entering new states to producing fresh product lines, the options for growth and development are many. A few key considerations define the strategies of the current cannabis players.
Choosing which states to operate in is an important consideration for American cannabis companies. Although it is widely anticipated to change, cannabis currently remains illegal at a federal level, and it is only through state-level initiatives that the market has been allowed to emerge. Cultivation and retail effectively operate on a statewide scale at best, so looking at where a state stands now and where it is likely to go in the future is vital to making savvy business decisions.
Arizona, where Generation Alpha recently acquired cultivation and processing facilities, provides a useful example of how local conditions shape the market. The state made medical cannabis legal in 2010. Despite a closely fought vote, opponents of cannabis have failed to overturn or limit the market despite ongoing campaigns. The state’s supreme court even overturned a rule keeping medical cannabis off college campuses. Arizona’s medical cannabis market seems secure.
In 2016, an attempt to legalize recreational cannabis in the state failed by a narrow margin. Medical legalization faced a similar setback in 2002, only eight years before passing. As recent generations are generally more liberal toward cannabis than their elders, it is likely that a similar pattern will play out for recreational cannabis, with a successful vote almost inevitable. Companies that have become established under the medical licensing laws will be in a strong position to make the most of this.
“We are excited about this opportunity in Arizona and its growth and profitability potential,” said Generation Alpha CEO Alan Lien. “We are pleased to have partners such as Future Farm Technologies and Yorkville Advisors to collaborate and support the build-out and growth of this facility. Our collective experience and knowledge in cannabis will position this Arizona operation for success. We are excited to commence Phase 1 of the development and construction of our state-of-the-art cultivation and processing facility and look forward to many additional opportunities in the cannabis industry.”
The next few years promise solid growth for the cannabis industry in North America. Even before this month’s political upheavals, analysts projected that the $9 billion industry would grow to $47.3 billion by 2027.
The fallout from the mid-terms means that investors can be even more confident about what happens next. The forced resignation of Jeff Sessions removes one of the biggest obstacles to growth for the cannabis industry in the United States. Sessions, a staunch opponent of cannabis, had rescinded the Obama-era memo committing federal law enforcement to non-intervention in state-level cannabis industries. With him gone, cannabis shares rose as businesses and investors looked forward to a more tolerant regime.
This won’t mean an end to campaigning for MedMen Enterprises, Inc. (CSE: MMEN) (OTCQX: MMNFF), the largest financial supporter of progressive marijuana laws, but it does mean that the company’s campaigning efforts are more likely to pay off, creating space for expansion of its cultivation and retail business. The company already operates 19 facilities in four states and has recently announced the addition of a fifth, through a move into Arizona. Despite the limitations created by federal laws, MedMen is showing that cannabis companies can operate on an inter-state level.
by HempingtonPost | Mar 31, 2017
Industrial hemp is an invaluable renewable resource that is gaining popularity in the U.S. marketplace. As states in the U.S. continue to legalize hemp, more and more hemp products are found on local store shelves.
The U.S. is currently the largest importer of industrial hemp grown products in the world. To date, almost all hemp merchandise on U.S. shelves are imported into the U.S., as the commercial cultivation of industrial hemp is still illegal under U.S. Federal law. Although market data is not readily available, the Congressional Research Service estimated that the U.S. imported $12,271,000 worth of hemp goods in 2011. In 2013, the U.S. imported approximately $36,866,000 of products made of hemp. Now in 2016, it’s clear to see the demand for hemp in the U.S. is increasing exponentially.
Similarly, as U.S. imports of hemp increase, the U.S. market share for hemp products is increasing exponentially. In 2010, Vote Hemp estimated U.S. retail industrial hemp sales at $419 million. In 2013, the Hemp Industries Association (HIA) estimated U.S. retail sales around $581 million. In 2015, HIA estimated U.S. retails sales at more than $620 million. These products were all produced with imported hemp. It’s time U.S. farmers share in that market.
Legalize Industrial Hemp
At least 27 U.S. states have distinguished hemp from marijuana, removing barriers to production. As more states re-legalize, declassify hemp and begin hemp production, we will start to see “Made in the U.S.A.” products on store shelves.
Currently, hemp grown products in America are produced, manufactured, and sold under the auspices of market research, compliant with provisions in the Agricultural Act of 2014 (2014 Farm Bill). Pending action on the federal level, U.S. farmers will soon engage in full commercial cultivation.
Many U.S. states have enacted hemp cultivation legislation specifically for the economic opportunities that industrial hemp provides. For example, Senate Majority Leader Mitch McConnell and Senator Rand Paul of Kentucky base their support for hemp legalization, and in particular Kentucky’s hemp legalization in 2013, on the economic benefits of industrial hemp. Senate Majority Leader McConnell stated,
“After long discussions with Senator Rand Paul and Commissioner James Comer on the economic benefits of hemp, I am convinced that allowing its production will be a positive development for Kentucky’s farm families and economy…The utilization of hemp to produce everything from clothing to paper is real and if there is a capacity to center a new domestic industry in Kentucky that will create jobs in these difficult economic times that sounds like a good thing to me.”
Legislative Committees around the country that are reviewing proposed hemp bills are echoing industrial hemp’s potential as a mechanism to create jobs and provide abundant economic opportunities. One of the focuses of the Oregon 2016 Legislative Session was the implementation of industrial hemp legislation that provides for a sustainable industry that will provide farmers with an alternative crop as well as put rural communities back to work. In Oregon, this is especially important for those communities that have been negatively affected by the decline in the timber industry. Rural communities throughout the country are seeking new economic opportunities, which hemp farming can provide.
A resurgence in the hemp industry, hemp production will create jobs in all sectors. For example, positions will open up in academics, agriculture, business administration, construction, health care, law, manufacturing, marketing, processing, retail sales, and transportation sectors. Since hemp can be produced into a myriad of products, all sectors will be able to take advantage of hemp benefits.
Increasing hemp acreage is paramount to realizing industrial hemp’s economic benefits. As U.S. farmers increase production, U.S. manufacturers and retailers will use U.S. grown industrial hemp, and will no longer need to rely on imported hemp. Having an increased, local supply of industrial hemp will enable U.S. manufacturers to engage in state of the art processing techniques to produce products from industrial hemp that are currently being produced from non-renewable materials, for example, hemp plastics. Eventually, the U.S. will export, rather than import, industrial hemp grown products.
Availability of U.S. hemp will reduce importation and transportation costs, which will lead to reduced wholesale and retail costs of hemp products. As wholesale costs decrease, manufacturers not currently using hemp in their products will be able to incorporate industrial hemp into those products. As retail prices decrease, more consumers will be able to afford items from the hemp industry and they will become common household items, in all households.
Increasing U.S. production will also provide significant environmental benefits. Hemp farmers that are currently allowing their fields to go fallow, can use industrial hemp as a rotation crop. When used in rotation, hemp plants can break disease cycles, replenish soil, and provide farmers with additional income. Industrial hemp can also remove toxins added to soil through conventional farming, assisting farmers converting to organic farming. Consumers are becoming conscious consumers, demanding sustainability produced and organically grown products. Industry representatives report that organic hemp products retail for three times the value of conventional industrial hemp grown products.
To guarantee the U.S. once again reaps the full potential industrial hemp has to offer, it is essential that laws enacted regulating industrial hemp provide for a sustainable, thriving industry. Arbitrary limitations today will have significant impacts on the development of the industry in years to come. Hemp laws need to protect agricultural, manufacturing, and consumer interests, while ensuring standards are put in place that protect public health and safety.
Industrial hemp is already starting to revitalize the U.S. economy. Development of the U.S. industrial hemp industry is providing abundant economic opportunities around every corner. As US hemp farmers begin to increase their production, processors are modifying existing hemp processing equipment as well as bringing new hemp processing equipment to the U.S., manufacturers are developing new products, and retailers are bringing those products to market. jobs are opening up in all sectors in states that are actively developing an industrial hemp industry. Industrial hemp will provide for a strong, sustainable economy.
Written by Courtney N. Moran, LL.M.
EARTH Law, LLC – [email protected]
