Connect with us

INDUSTRIAL HEMP

Dewmar International BMC Inc (OTCMKTS:DEWM) Secures Office Space in Kentucky, The Historic Place for Hemp Production In The US

Published

on

Dewmar International BMC Inc (OTCMKTS:DEWM) entered an agreement and secured office space and address in downtown Louisville, Kentucky, the hemp production capital in the US. Securing footprint in Kentucky is vital for Dewmar because it is negotiating with licensing partners in Canada.

Mitch McConnell, the Senate majority leader in Kentucky, played a vital role in the recently passed Hemp Farm Act 2018 in the US. The United States Hemp Corporation (USHC) and Dewmar congratulated McConnell for playing an instrumental role in passing the hemp farm act.

The hemp farm bill removed the hemp from the controlled substances act. Following the signing of hemp farm act into law on December 20, 2018, Dr. Scott Gottlieb, commissioner of US FDA said hemp oil and hemp protein are now safe and ordinary agricultural commodities. The hemp farm bill allows the sale of hemp-derived products in human foods.

The market for hemp derived products

Kush Cakes, which comprise hemp protein, are the best-selling hemp infused brownie in the nation. The USHC, the wholly owned subsidiary of Dewmar, manages this brand. Companies like Dewmar sells hemp derived products. The demand for hemp derived products would reach $20 billion in 2022.

Benefits of Hemp products

Hemp is rich in amino acids, omega-6, omega-3, and proteins. Together all these nutrients would offer health benefits like mood stability, cardiac function, insulin balance, joint health, and skin health. All these health benefits increase demand for hemp derived products worldwide. It offers enormous business opportunities for companies such as Dewmar.

Dewmar is exploring options for expanding business operations and looking for the best places to establish a footprint to benefit from enormous demand for hemp derived products.

Dewmar unveils a cannabis industry website

Dewmar introduced a new cannabis website. It allows the customers to buy CBD and marijuana products from various dispensaries. The consumers can register with a myriad of dispensaries across the US and receive information on the respective cannabis products. They will also receive discount offers and inventory details in their inbox of the email. Dewmar launched a new site after intensive beta testing for the past four months.

INDUSTRIAL HEMP

Digipath Inc. (OTCMKTS: DIGP) Announce Significant Milestones On Development Of GroSciences Hemp-Test Kit

Published

on

Digipath Inc. (OTCMKTS:DIGP) has announced that its GroSciences subsidiary has made substantial progress in the development of its Tru-Hemp ID project that is targeted for commercial availability at the end of this year or early 2020.

GroSciences announce the development of the hemp-testing kit

GroSciences is a wholly-owned subsidiary of Digipath that uses proprietary research and data testing experience to come up with “The Science to Succeed” for its clients who are looking for expert guidance on identification and formulations. Digipath recently announced that it is developing field testing kit through its subsidiary GroSciences. The kit tests for cannabis, hemp, and other products and it has many applications and it can be used by farmers and law enforcement.

The subsidiary has so far completed the initial testing of the Tru-Hemp ID at two different facilities. Tru-Hemp is a DNA-based test kit that has the capability of distinguishing legal industrial hemp from street type cannabis. The kit will be vital in addressing the growing need in the fast-growing hemp industry since it is not easy to distinguish legal industrial hemp from high-THC cannabis which is a Schedule I Controlled Substance.

Beta-test for the Tru-Hemp ID kit in August

GroSciences is currently planning a beta-test for Tru-Hemp ID kit in New York, Vermont, and North Carolina as from August. The company is also in talks with regulators and growers from Colorado, Oregon, and California to test the kit.

Digipath Chief Science Officer, Dr. Cindy Orser indicated that the company has made significant milestones in the development of the Tru-Hemp ID. Cindy said that besides the developing of the technology that the Tru-Hemp test kit uses the company has also partnered with leading hemp farmers to carry out independent testing of the technology. She adds that that will be vital in accelerating the company’s path to commercial availability of the testing kit.

According to the CEO of Digipath Todd Denkin, the deployment of the testing kit in the commercial market place will be a good revenue stream for the company.

Continue Reading

INDUSTRIAL HEMP

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Launches Expands Its Footprint In Florida With New Medical Marijuana dispensary in Gainesville

Published

on

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) recently announced that it launched a new outlet in Gainesville, making it the company’s sixth medical marijuana store in Florida.

Florida is one of the markets that Harvest Health targets heavily for its medical cannabis products. The company has so far secured licenses for 35 medical dispensaries in the state as well as a license for a manufacturing facility and a cultivation facility. So far Harvest Health has launched six dispensaries in Florida including the latest one located in Gainesville.

The company’s new dispensary in Gainesville will be opened every day from 9 a.m. to 6 p.m local time. The store will stock a variety of products including capsules and vape pens but there are plans to expand the product variety in the future. The firm has also invested in training staff so that they can help patients to pick out the best suited personalized medical marijuana treatments.

“We’re thrilled to be bringing our high-quality cannabis products to patients in Gainesville as we continue to expand our footprint in Florida, the third most populous state in the country,” stated Jason Vedadi, Harvest Health’s executive chairman.

Harvest Health discloses its Q2 2019 preliminary revenue figures

Harvest Health released its preliminary results for the second quarter of 2019 earlier this month. The company revealed that it expects its revenue for the quarterly period to come in between $26 and $27 million. This means that the cannabis firm anticipates a 37% to 42% increase in revenue compared to the revenue that the company reported in Q1 2019.

Harvest Health also anticipates its consolidated revenue for the second quarter to be between $75 and $77 million which will range between 47% and 51% higher than the consolidated revenue reported in Q1. This is on a Pro-forma basis, factoring in completed acquisitions including Urban Greenhouse and Leaf Life, as well as pending acquisitions which include Devine Holdings, CannaPharmacy, Verano and Falcon.

Harvest Health will announce the Q2 2019 full financial results on August 15. The company will publish the results on its website but it has also provided toll-free contact details through which interested parties in Canada and the U.S can access the live conference.

Continue Reading

INDUSTRIAL HEMP

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Gets Greenlight To Expand Its Foreign Private ISSUER Threshold

Published

on

By

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) revealed earlier this month that its Board of Directors has approved a plan to increase the firm’s foreign private issuer threshold by 9.99%.

The approval will allow the company to expand the foreign private issuer threshold from the current 40% to 49.99%. The threshold increment is also in line with Harvest Health’s guidelines. The company operates as a foreign private issuer in the U.S which means that U.S residents directly or indirectly own less than 50% of the firm’s stake.

“Our vision is to become the most valuable cannabis company in the world and the adjustments related to the FPI per the Board consent will help fuel Harvest’s growth,” stated Steve White, the CEO of Harvest Health.

White also noted that it is important for any company to have access to a decent capital pool to secure long-term success. It also falls in line with Harvest Health’s goal of giving customers a high-quality experience. The Board of Directors’ consent also allows for the appointment of an officer that will make sure the firm complies with the company’s articles as part of its FPI status.

The Articles allow Multiple Voting Shares (MVS) to be converted to Subordinate Voting Shares (SVS) but only if they do not surpass the set threshold, in this case, the 49.99% level. The Articles require the firm to employ reasonable commercial efforts to make sure that conversions such as the recently announced ones do not surpass the 49.99% threshold.

Harvest Health secures $225 million credit facility to finance its expansion

Harvest Health also announced at the end of July that it secured a loan of $225 million which it plans to use fund its expansion plans in the cannabis industry. The company will receive the loan in three tranches of $75 million.

The loan will be backed by Torian Capital Partners which is a well-known investment firm in Miami. Harvest also announced that the funds will be used to secure strategic acquisitions, to boost working capital and also to support the company’s general corporate purposes. Harvest Health will secure the loan through its assets which include dispensary licenses.

Continue Reading
Advertisement
Advertisement

TRENDING STORIES

INDUSTRIAL HEMP2 weeks ago

Digipath Inc. (OTCMKTS: DIGP) Announce Significant Milestones On Development Of GroSciences Hemp-Test Kit

Post Views: 236 Digipath Inc. (OTCMKTS:DIGP) has announced that its GroSciences subsidiary has made substantial progress in the development of...

INDUSTRIAL HEMP2 weeks ago

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Launches Expands Its Footprint In Florida With New Medical Marijuana dispensary in Gainesville

Post Views: 258 Harvest Health & Recreation Inc (OTCMKTS:HRVSF) recently announced that it launched a new outlet in Gainesville, making...

INDUSTRIAL HEMP2 weeks ago

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Gets Greenlight To Expand Its Foreign Private ISSUER Threshold

Post Views: 232 Harvest Health & Recreation Inc (OTCMKTS:HRVSF) revealed earlier this month that its Board of Directors has approved...

INDUSTRIAL HEMP2 weeks ago

Generex Biotechnology Corporation (OTCMKTS:GNBT) Adds MediSource Partners And Pantheon Medical To Its NuGenerex Family Of Subsidiaries

Post Views: 168 Generex biotechnology Corporation (OTCMKTS:GNBT) has welcomed MediSource Partners to its family of subsidiaries and introduced Pantheon Medical...

INDUSTRIAL HEMP2 weeks ago

CBD Unlimited Inc. (OTCMKTS:EDXC) Enhances Its Convenience Store Program Targeting 300 Stores

Post Views: 174 CBD Unlimited Inc. (OTCMKTS:EDXC), formerly Endexx Corporation, has announced an enhanced convenient store launch program. The provider...

INDUSTRIAL HEMP3 weeks ago

Cronos Group Inc. (NASDAQ:CRON) Spends $300 Million On CBD Skincare Businesses

Post Views: 167 Cronos Group Inc. (NASDAQ:CRON) has not had the best of runs in recent months, after starting the...

INDUSTRIAL HEMP3 weeks ago

Elev8 Brands, Inc. (OTCMKTS:VATE) A Potential Break Out Play On Sales Growth Boost

Post Views: 125 Elev8 Brands, Inc. (OTCMKTS:VATE) stock is a potential break out play as a flurry of positive developments...

INDUSTRIAL HEMP3 weeks ago

Medical Marijuana Inc. (OTCMKTS:MJNA) Eyes Fresh Gains On Improving Fundamentals

Post Views: 81 Medical Marijuana Inc. (OTCMKTS:MJNA) bounce back from all-time lows continues to gather pace on improving fundamentals. Investor’s...

INDUSTRIAL HEMP3 weeks ago

Sugarmade Inc. (OTCMKTS:SGMD) Turns To Hemp Production To Reinvigorate Growth Prospects

Post Views: 95 Sugarmade Inc. (OTCMKTS:SGMD) has made a strategic investment in Hempistry as it tries to reinvigorate its growth...

INDUSTRIAL HEMP7 months ago

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) Acquires 46% Stake In Curative Cannabis And Agrees to Fund Cannabis Cultivation Facility To Produce Ultra Premium Cannabis

Post Views: 47 Auxly Cannabis Group Inc (OTCMKTS:CBWTF) has entered a deal to take over a 46% stake in Curative...

Advertisement

Whats Hot

Create a future where the human body can repair, restore, and rejuvenate itself

 

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Play