Global Industrial Hemp Leader, CannaVest, Receives Permit to
Grow Industrial Hemp in Colorado,
the State Poised to Be the Leader in Development of Domestic
Industrial Hemp Industry.
LAS
VEGAS, April 15, 2014 /CNW/ - The Passage of the
U.S. Farm Bill in February of this year opened the door for global
hemp industry leader, CannaVest Corp. (OTCBB:CANV) ("CannaVest"),
to usher in the next phase of the potential $1 billion domestic industrial hemp industry.
CannaVest, in partnership with Alfonzo Abeyta, owner of the Quarter
Circle Lazy 5 Ranch, reached a major milestone this week when it
received a Commercial Industrial Hemp Registration from the
Colorado Department of Agriculture that permits the growing and
possessing of industrial hemp.
Well before passage of the U.S. Farm Bill, CannaVest Corp. began
strategic alliances with farmers and farm bureaus in states
including California, North Dakota,
Vermont and Colorado,
which is the State positioned to become the leader in the
development of a major new industry. On April
7th, the company officially partnered with
Alfonzo
Abeyta — a fifth generation Colorado
farmer, and owner of the Quarter Circle Lazy 5 Ranch — to begin
cultivation of industrial hemp for a September harvest. CannaVest
plans on building the processing mills to make hemp seed oil,
de-hulled hemp seeds, and hemp protein powder as well as process,
market, and sell the high-value hemp fiber and hurds for
construction materials and automotive parts.
The Colorado Industrial Hemp Coalition calls 2014 "the year of
industrial hemp." The Colorado State Business Journal
reports that the legal cultivation and processing of industrial
hemp could provide the state with an infusion of new jobs and tax
revenue in the near-term. Farming proponents see it as a profitable
crop — one that is on par with commodities like soybeans and corn.
And a 2013 Congressional Research Service report cites a range of
feasibility and marketing studies conducted by the U.S. Department
of Agriculture (USDA) and various land grant universities and state
agencies promoting the production advantages of industrial hemp as
a rotational crop, that requires relatively low input and
management, and causes less environmental degradation- due to its
potential for soil cleaning (phytoremediation) — a process that is
being studied in Colorado under its federally-legal
cultivation provisions.
"Given the existence of profitable markets for a wide array of
industrial and consumer products, commercial hemp industry in
the United
States could provide opportunities as an economically
viable alternative crop for some U.S. growers," the report
said.
The U.S. is one of the fastest-growing hemp markets, with more
hemp fiber, seed and oil being imported by the U.S. than any other
country. The overall U.S. market for industrial hemp fiber and seed
products is currently estimated at over a half a billion dollars
($500 million), but currently none of
that money is going to American farmers, processors, or their
families.
CannaVest Corp. has also been investing in emerging industrial
hemp companies, technology and intellectual property, and recently
established US Hemp Oil (USHO) as a manufacturing and distribution
vehicle to facilitate the demand for U.S. industrial hemp imports.
Under the guidance of Vice President, Chris Boucher,
USHO will transition into a leading provider of industry
consultation, farming and processing equipment, and products and
services to support U.S. farmers and businesses that cultivate and
process industrial hemp.
Mr. Boucher is a twenty-year veteran of the industrial hemp
industry, as the founder and CEO of one of the first hemp product
companies in the 1990s, and the co-founder of the Hemp Industries
Association, one of the first formal Hemp Business Associations.
Mr. Boucher also has the distinct honor of being the first person
to legally grow hemp in the U.S. in 1994, when he cultivated a hemp
research field at the U.S. Department of Agriculture's Research
station in California. The procurement of the
Colorado Department of Agriculture's industrial hemp registration
permit in 2014 corresponds with the 20th anniversary of
that accomplishment.
Positioned as an innovative agri-food processing company, USHO
will also manufacture and distribute the first hemp seed oil and
hemp seed protein grown in the U.S., which it will manufacture and
distribute under its already established brands, including HEMP
FIT™.
About CannaVest Corp.
CannaVest Corp. is in the business of investing and developing
hemp-based cannabinoid companies. CannaVest Corp. also develops,
produces, markets and sells end-consumer products to the
nutraceutical industry containing the hemp plant extract,
cannabidiol (CBD). Additionally, the company resells raw product
acquired by CannaVest Corp. Pursuant to the company's supply
relationships in Europe, CannaVest
Corp. seeks to take advantage of an emerging worldwide trend to
re-energize the production of industrial hemp and to foster its
many uses for consumers. Cannabinoids (cannabidiol/CBD) are natural
constituents of the hemp plant, and CBD is derived from hemp stalk
and seed. Additional information is available from OTCMarkets.com
or by visiting CannaVest.com.
About PhytoSPHERE Systems
Phytosphere Systems is a global phytocannabinoid biotechnology
company and a wholly-owned subsidiary of CannaVest Corp.
(OTCBB:CANV). The company utilizes advanced cultivation methods and
state-of-the-art processing technology leading to development of
pharmaceutical, nutraceutical and food products.
Phytosphere Systems, the manufacturer of the CBD-rich hemp oil
used in Real Scientific Hemp Oil (RSHO), has developed special
cultivars (similar to "strains") that produce hemp that is
especially rich in CBD, making it possible for Phytosphere to offer
all-natural products with high concentrations of hemp-based CBD.
For more information, visit: Phytospheresystems.com
About US Hemp Oil
US Hemp Oil seeks to develop the United
States industrial hemp industry. The company is
dedicated to the procurement, processing, marketing and
distribution of bulk wholesale hemp seed, hemp oil, protein, food
and hemp body care products. US Hemp Oil currently has three
brands: RSHO™, Cibaderm™, and Cibdex™. US Hemp Oil is determined to
bring hemp products into the mainstream by creating greater public
awareness of and media exposure for the exceptional nutritional
profile of hemp and the environmental benefits of growing
industrial hemp. For more information, please visit:
USHempOil.com.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking
statements and information, as defined within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of CannaVest Corp. to be
materially different from the statements made herein.
LEGAL DISCLOSURE
CannaVest Corp. does not sell or distribute any products that
are in violation of the United States Controlled Substances Act
(US.CSA). The company does grow, sell and distribute hemp-based
products and are involved with the federally legal distribution of
medical marijuana-based products within certain international
markets.
Corporate Contact:
CannaVest Corp.
2688 S. Rainbow Blvd., Ste. B
Las Vegas,
NV 89146
Office: 866-290-2157
Logo -
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SOURCE CannaVest Corp.