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INDUSTRIAL HEMP

United Cannabis Corp (OTCMKTS:CNAB) To Establish Industrial Hemp Contract Processing Plant

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United Cannabis Corp (OTCMKTS:CNAB) has obtained an industrial building in Colorado where it will establish an advanced industrial hemp processing plant to offer contract manufacturing to growers active under the Federal Farm Bill 2014 and the Industrial Hemp Program of Colorado’s Department of Agriculture. The multi-function plant will include purification, testing, processing and extraction equipment, and fulfillment, secure storage and packaging capabilities.

The details

Services offered by United Cannabis will allow farmers to convert reaped industrial hemp crops into a range of products, from capsules to sublingual drops to simple extracts, and have them packed for resale. The processing facility may also process raw hemp seed via cold press extraction. In addition, fibrous bi-products resulting through the processing will be collected to sell it to a wide range of customer product industries.

Colorado-cultivated hemp comprises for over half of U.S. local hemp production, as per Duane Sinning, who is assistant director at the plant industry segment of Colorado’s Department of Agriculture. The Denver Post announces farms around Colorado are anticipated to harvest hemp up to 9,000 acres in 2017, as against 200 acres in 2014. The harvest produced was 2,200 acres in 2015 and 5,900 acres in 2016.

Earnest Blackmon, the CEO of United Cannabis, expressed that they decided to advance this plant in the setting of rising demand for Colorado-cultivated hemp products. Growers are offering their resources to enhancing cultivations to produce high quality crops, but several don’t have the equipment or expertise on-site to process the crops, and are hence left to sell their yield at commodity pricing.

Blackmon added that by applying the GMP protocols and technologies they have advanced through their previous medicinal cannabis experience, their plant will allow them to extract the premium quality phytocannabinoids, terpenoid, flavonoids and terpenes from their harvest. They will offer Colorado hemp growers with the resources required to record real value added, and as a result, higher margins, by establishing finished products apt for distribution or research in the State of Colorado.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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