Agricoltura
CROP Increases Nevada Land Position for Hemp CBD to 2,115 Acres in Anticipation of Hemp Provisions in Farm Bill Passing
With the new US Farm Bill now including critical provisions on hemp, CROP already announced on October 23rd , a 3-year, 1,500,000 pound, $18.0 - $28.0 MM USD per year CBD biomass supply agreement in the US (depending on CBD content) and is now focusing on allocating 2019 CBD Isolate supply agreements both domestically and internationally.
Cannabis industry analysts, The Brightfield Group, estimate the hemp-CBD market alone could reach $22-billion by 2022.
CROP CEO, Michael Yorke , stated: "As you can see from our summary of the significant points of this bill, the positive impact on the industry in the US will be enormous. It will show the world that our industry is here to stay and will expand considerably, not just domestically but as we begin to work with customers globally."
The full H.R. 2 farm bill can be seen here: https://www.congress.gov/bill/115th-congress/house-bill/2/text
Certain statements in this press release are forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. These statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the expected returns from the Nevada Project; the technological effects of Nevada Project; the intention to expand its portfolio; and execute on its business plan. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the regulatory and legal framework regarding the cannabis industry in general among all levels of government and zoning; risks associated with applicable securities laws and stock exchange rules relating to the cannabis industry; risks associated with maintaining its interests in its various assets; the ability of the Company to finance operations and execute its business plan and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Michael Yorke - CEO and Director
E-mail: info@cropcorp.com
Phone: +1-604-484-4206
Website: www.cropcorp.com