Spring Hope, NC, Jan. 10, 2019 (GLOBE NEWSWIRE)
-- via NEWMEDIAWIRE -- Hemp, Inc. (OTC
PINK:HEMP) is pleased to provide its 2018 Year-In-Review. As
a global leader in the industrial hemp industry with bi-coastal
processing centers including the largest multipurpose industrial
hemp processing facility in the western hemisphere (in
Spring Hope, North Carolina), Hemp, Inc. recaps its key
business developments, increased media coverage, and speaking
engagements in 2018.
“I am incredibly proud of all that our team accomplished in 2018,†said Hemp, Inc. CEO Bruce Perlowin. “Hemp, Inc. was at the center of news coverage (including Forbes) surrounding the legalization of hemp that came with the historic passage of the 2018 Farm Bill.â€
After years of prohibition, industrial hemp became federally legal in America. President Trump signed off on the 2018 Farm Bill, in December 2018, which redefined hemp as an agricultural commodity, but more importantly, removed it from the Controlled Substances Act. Hemp is no longer considered a Schedule 1 substance and the Drug Enforcement Administration (DEA) will no longer be able to interfere with the interstate commerce of hemp products. With its ever-expanding footprint across the nation, this was a huge win for Hemp, Inc. (HEMP).
“This historic event in our nation’s industry created and will continue to create a tremendous amount of opportunities for the small family farm, local communities, the U.S. economy, and a myriad of industries.†Perlowin continued, “At the same time, I continued to travel the country meeting with farmers who are growing hemp or wanted to learn more about this incredibly valuable crop. In the coming year, I look forward to building upon our success and accomplishments as we continue to rapidly expand our footprint and bring new hemp products to market.â€
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. Now, hemp legalization will allow
American farmers and companies to tap that market.
In addition to the company’s 85,000 square foot multi-purpose industrial hemp processing facility in Spring Hope, North Carolina, Hemp, Inc. also has one the most sophisticated hemp local processing centers in Medford, Oregon, and a 4,500-acre hemp-growing eco-village in Golden Valley, Arizona, and is continuing to scout new locations for local processing centers nationwide. The company’s local processing center in Medford is one of the most sophisticated hemp harvesting and post processing centers in the state of Oregon, and its operations in Arizona consist of a 4,500-acre hemp growing eco-village that they are actively building out for 300 acres of hemp cultivation. Hemp, Inc. aims to boost the economies of these towns by offering affordable hemp processing services, which incentivizes local growers to add hemp to their crop rotation.
Operation highlights for 2018 included:
Media exposure expanded significantly in 2018. Media coverage included but was not limited to:
Trade shows and expos featuring Hemp, Inc. CEO Bruce Perlowin included:
To see 1 minute videos of Hemp, Inc.’s current activities, go to Bruce Perlowin’s personal Facebook page where he posts daily on all of Hemp, Inc.’s activities around the country. (No other public company has this level of transparency than Hemp, Inc.)
ABOUT LOCAL PROCESSING CENTER INC.
Hemp, Inc. entered into a majority ownership agreement with JNV Farms LLC for the hemp cultivation and processing company in Medford, Oregon. As the majority owner of the, now fully functional, hemp cultivation and processing company, Local Processing Center, Inc. (LPC), Hemp, Inc. will be able to create a pipeline of industrial hemp and hemp products in states, where legal, on the West Coast. This makes Hemp, Inc. a bi-coastal hemp processing center in America with many more Hemp Local Processing Centers planned for other areas where Hemp is being grown. Thus far, the company has created about 50 jobs in its LPC and also helps create even more jobs for the local farmer. “A to Z†services for the farmers are available - from harvesting to drying, bagging, curing, storing, nitrogen sparging, machine trimming, hand trimming, extracting and selling creating a “one stop shop†for the small to large family farm. Daily updates on LPC can be found on Bruce Perlowin’s personal Facebook page.
DAILY UPDATES ON FACEBOOK
Hemp, Inc. strives to be one of the most transparent companies in the public sector. To adhere to this company policy of transparency, CEO Bruce Perlowin posts 1-minute video updates daily on his personal Facebook page to give an inside look and behind-the-scenes footage of what Hemp, Inc.