- The
U.S. hemp-derived cannabinoid industry is projected to hit $22 billion by
2022
- The
company recently announced a $17.2 million capital raise to fund its
expansion plans across the country from its Oregon base
- Hemptown
has acquired and is in the process of planting one million cannabigerol
(CBG) seeds, which will represent a significant portion of the total U.S.
CBG crop for 2019
On May 14, Hemptown
USA announced that it had raised $17.2 million (C$23.3 million) to
fund its expansion plans (http://ibn.fm/xZZtY).
A privately held company headquartered in Southern Oregon’s Emerald Triangle,
the company is leveraging its experience as a grower of broad-spectrum hemp
biomass to scale up its production capacity in three states as favorable laws
are finalized.
A big part of Hemptown USA’s strategy includes the farming
of novel cannabinoid strains in addition to cannabidiol (CBD). Recently, the
company acquired and is now in the process of planting $5.5 million of Oregon
CBD seeds, including one million rare cannabigerol (CBG) seeds. The CBG seed
genetics acquired by Hemptown USA are estimated to yield 10-12 percent CBG
biomass. This move positions Hemptown USA to become a leading CBG producer in
the United States.
This novel cannabinoid has shown to contain
anti-microbial/anti-fungal properties, with some indications that it may help
with colitis, neurodegeneration, cancer, glaucoma, bacterial infections,
muscular tension, anxiety and inflammation (http://ibn.fm/MiK47). Industry insiders identify the
anti-microbial/anti-bacterial properties of CBG as a perfect fit for the
cosmetics industry – a trend that’s already visible in the marketplace.
Hemptown USA is currently cultivating more than 1,500 acres
in Oregon, Kentucky and Colorado. Legislators in these states have welcomed
hemp growers, particularly since the federal government inked the 2018 Farm
Bill in December, opening the door to hemp cultivation as an agricultural
commodity that no longer requires the U.S. Drug Enforcement Agency’s
oversight (http://ibn.fm/9BglJ).
By 2020, Hemptown USA plans to be a full vertically integrated company from the
farm to the consumer in a bid to maintain a leading position in the developing
industry.
The global industrial hemp market is expected to surpass
$300 billion by 2025 (http://ibn.fm/mG49K).
For more information, visit the company’s website at www.HemptownUSA.com
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www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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