MORRISVILLE, N.C., Aug. 27, 2019 /CNW/ -- Pyxus International,
Inc. (NYSE: PYX), a global value-added agricultural company, has
signed an agreement with Cornell
University's College of Agriculture and Life Sciences (CALS)
to fund research designed to identify and address knowledge gaps
surrounding hemp production through the evaluation of cannabidiol
(CBD) hemp cultivars and cannabinoid production.
The partnership between the premier agricultural research
university and the global agricultural company is rooted in the
partners' shared commitment to provide growers and processors in
the rapidly expanding hemp industry with unbiased data and valuable
insight on cultivation as the organizations work to reduce the
risks associated with cultivation of this new crop through science
and education. This research is intended as an important step in
developing hemp as a profitable crop for farmers in New York and across the United States.
Beyond providing growers and processors with valuable data and
insight, the research coming out of this partnership may also be
used by consumers to help them understand hemp and CBD.
"Pyxus is dedicated to advancing the cultivation of hemp," said
Bryan Mazur, Executive Vice
President of Global Specialty Products at Pyxus International. "We
are eager to learn from Cornell's
expertise and research in the field and are excited that this
partnership will eventually be part of an even larger Pyxus
initiative with additional partners and resources."
According to the National Conference of State Legislatures, at
least 47 states have enacted legislation to establish industrial
hemp cultivation and production programs. Additionally, the
Brightfield Group, a leading predictive analytics and market
research firm for the legal CBD and cannabis industries, has stated
that the demand for hemp-derived products, like CBD, will continue
to increase, with the market expected to experience a compound
annual growth rate of 147 percent.
"Hemp production manuals already exist for grain and fiber;
however, equivalent science-based information on hemp production
for natural, plant-based cannabinoids and CBD is entirely lacking,"
said Cornell University's Professor of
Plant Breeding and Genetics Larry Smart. "Through our partnership
with Pyxus, we will build the knowledge base to help the industry
make informed decisions that are backed by research to ensure a
stable supply of hemp to U.S. processors, and improve the
livelihoods of our farmers."
The Pyxus and Cornell University
research project will last multiple years with the first year of
research focusing on accomplishing four objectives meant to educate
both growers and landowners. The objectives include: 1) Evaluating
and comparing commercially-available cultivars of hemp grown for
CBD; 2) Conducting a detailed study of cannabinoid production over
the course of the plant's floral development; 3) Observing the
effects of controlled stress treatments on cannabinoid levels; and
4) Extending knowledge of CBD hemp cultivars and cannabinoid
accumulation to growers.
About Pyxus International Inc.:
Pyxus International Inc. (NYSE:PYX) is a global agricultural
company with 145 years' experience delivering value-added products
and services to businesses and customers. Driven by a united
purpose—to transform people's lives, so that together we can grow a
better world—Pyxus International, its subsidiaries and affiliates,
are trusted providers of responsibly sourced, independently
verified, sustainable and traceable products and ingredients. For
more information, visit www.pyxus.com.
About the College of Agriculture and Life Sciences at
The College of Agriculture and Life Sciences is a pioneer of
purpose-driven science and home to Cornell
University's second largest population of students, faculty
and staff. We work across disciplines to tackle the challenges of
our time through world-renowned research, education and outreach.
The questions we probe and the answers we seek focus on three
overlapping concerns: natural and human systems; food, energy and
environmental resources; and social, physical and economic
well-being. The Cornell CALS experience empowers us to explore the
boundaries of knowledge, supported by the leading minds of today
and surrounded by the leading minds of tomorrow. Visit
https://cals.cornell.edu/. Life. Changing.
Cautionary Statement Regarding Forward-Looking
This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
These statements are based on current expectations of future
events. Such statements include, but are not limited to, statements
about future financial and operating results, plans, objectives,
expectations and intentions and other statements that are not
historical facts. Such statements are based on the current beliefs
and expectations of management and are subject to significant risks
and uncertainties. If underlying assumptions prove inaccurate or
known or unknown risks or uncertainties materialize, actual results
may differ materially from those currently anticipated expected or
projected. The following factors, among others, could cause actual
results to differ from those expressed or implied by the
forward-looking statements: changes in laws and regulations or the
interpretation of laws and regulations, continued compliance with
applicable regulatory requirements, and uncertainties with respect
to the timing and outcome of any of the contemplated research.
Additional factors with respect to risks and uncertainties with
respect to an investment in the common stock of Pyxus
International, Inc. can be found in its Annual Report on Form 10-K
for the period ended March 31, 2019
and its other filings with the Securities and Exchange Commission
(the "SEC") which are available at the SEC's Internet site
SOURCE Pyxus International, Inc.