Production Of Industrial Hemp to Dramatically Increase As Demand For Eco-Friendly Natural fiber Continues to Rise

Date : 08/10/2016 @ 8:45AM
Source :InvestorsHub NewsWire
Stock : Medical Marijuana, Inc. (PC) (MJNA)
Quote : 0.108  -0.0042 (-3.74%) @ 4:31PM

Production Of Industrial Hemp to Dramatically Increase As Demand For Eco-Friendly Natural fiber Continues to Rise

Production Of Industrial Hemp to Dramatically Increase As Demand For Eco-Friendly Natural fiber Continues to Rise


Coral Springs, FL -- August 10, 2016 -- InvestorsHub NewsWire -- Industrial hemp known as a hardy and renewable resource (one of the earliest domesticated plants known) is quickly becoming a required resource for various industrial applications, including paper, textiles, and cordage.  Sustainable hemp seed, fiber and oil are being used in raw materials by major companies, including Ford Motors, Patagonia, and The Body Shop, to make a wide variety of products as a few select Hemp manufactures race to increase operations as the demand continues to grow.

Hemp, Inc. (OTC: HEMP) executives announced today they expect the first 200,000 pounds of Lost Circulation Materials (LCMs) in inventory to go to market in the next 2 weeks.  David Schmitt, COO of Hemp, Inc.s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM) is meeting with specific companies next week to ensure the LCMs will be ready to go to market.  The companys LCMs are expected to potentially sale for two to three dollars per pound which could bring in revenue of four to six hundred thousand dollars.  Schmitt has also been overseeing the final stages of Hemp, Inc.s 70,000 square foot multi-purpose industrial hemp processing facility and milling operation on 9 acres, in Spring Hope, North Carolina, that is in the final stages of completion.  "Hemp, Inc. is strategically positioned at the forefront of the industrial hemp industry and continues to remain ahead of the curve to be able to process industrial hemp and manufacture products made from hemp fiber due to its commercial size and by it being the only one in the United States.  Once the milling machinery is operational, Hemp, Inc. will be able to produce thousands of pounds of LCMs a day along with other oil absorbent products," said Bruce Perlowin, CEO of Hemp, Inc.

Read the full Hemp, Inc. (HEMP) Press Release at:  http://financialnewsmedia.com/profiles/hemp.html

According to Schmitt, the first shipment of machinery to finish the mill is expected to arrive on August 25, 2016 and the remaining of the machinery will arrive 30 days after the first shipment.  The milling machinery parts that were already in the warehouse have already been positioned in its permanent location and will be secured once all the machinery arrives. Our meeting with the air handler manufacturer, a little over two weeks ago, went extremely well so we are looking forward to the shipments. Once the air handler and dust collector are on-site, we're looking to hire specialized contractors to assist with securing all of the equipment in place which should save us over 3 to 4 weeks in time. Once the rest of the machinery is here, my best guestimate would be 3 weeks for us to have both mills operational," says Schmitt.  Schmitt has also been working with Duke Energy to install a new transformer because of all the amperage that will be used.  Everything is really coming together nicely.

In other Hemp, Legal Marijuana & Cannabis news and developments:  Medical Marijuana, Inc. (OTC: MJNA) announced that Penny Howard, a Dallas mom who from her own volition has become a spokesperson for the Company's subsidiary HempMeds, was featured on Fox News Channel's Health Talk with Dr. Manny Alvarez, who interviewed Howard about her daughter Harper's battle with the rare genetic condition CDKL5.  In the Aug. 4 segment, "Harper's Legacy: Family Donates 5-Year-Old's Brain to Science After Death From Rare Condition," Howard tells Dr. Alvarez about how her family found out about HempMeds Real Scientific Hemp Oil (RSHO) after weeks and weeks of research online.

Terra Tech Corp. (OTC: TRTC), a vertically-integrated, cannabis-focused agriculture company, last week announced the Grand Opening of its latest Blm retail dispensary, to be located on 3650 South Decatur Boulevard, Suite 6 & 7, Las Vegas, Nevada, will be held on August 20, 2016. This is Terra Tech's second retail location in Nevada and follows the opening of the Western Las Vegas Dispensary in April 2016. The Company also operates a Blm dispensary in Oakland, California.

Cannabis Science, Inc. (OTC: CBIS), a U.S. company specializing in the development of cannabis-based medicines, earlier this month announced they are in the final stages of escrow to transfer the 20-acre Northern California cultivation property into its name and commence indoor/outdoor cultivation and production on the land. This is another separate property the Company has secured for cultivation, production, and extractions for its proprietary formulations.

22nd Century Group, Inc. (NYSE: XXII), a plant biotechnology company that is a leader in tobacco harm reduction, released the Companys second quarter 2016 financial results and announced that it will provide a business update for investors on a conference call to be held on Wednesday, August 10th, at 4:00 PM (Eastern Time).  Henry Sicignano, III, President and Chief Executive Officer of 22nd Century Group, together with John T. Brodfuehrer, Chief Financial Officer, will conduct the call. Interested parties are invited to participate in the call by dialing 800-768-6570 and using Conference ID 8455411.

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DISCLAIMER:  FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNMG is NOT affiliated in any manner with any company mentioned herein.  FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNMG is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNMG has been compensated three thousand seven hundred dollars for news coverage of the current press release issued by Hemp, Inc by a non-affiliated third party.  FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

 

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