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PALM BEACH, Fla., May 02, 2019 (GLOBE NEWSWIRE) -- Cannabis Briefing: When companies find a product where demand is outpacing the supply, they have to find a better way to increase output… for CBD farm operations, it is either adding more acreage, or finding better ways to cultivate (such as greenhouses). Many outdoor farmers are turning to replacing their existing crops with CBD producing plants. The greenhouse operations generally produce a better quality crop and they are growing by erecting more greenhouses and acquiring cultivation companies. But the outdoor farmers are driven by the increased revenues they can get from switching to a CBD producing crop. An article on CCN’s website discussed this trend, saying: “Farmers across the United States have been rushing into hemp ever since President Donald Trump signed the Farm Bill into law in December (2018). The legislation removed hemp from the government's controlled drug category, triggering a surge in demand for cannabidiol, or CBD, a chemical that is derived from hemp and marijuana plants. Farms that were already growing hemp are seeing both demand and profits surge, while farmers who have never grown hemp before are rushing to plant it in their fields.” Active companies in the cannabis industry include: Neptune Wellness Solutions Inc. (TSX: NEPT.TO) (NASDAQ: NEPT), Canopy Growth Corporation (TSX: WEED.TO) (NYSE: CGC), Isodiol International Inc. (CSE: ISOL) (OTCQB:ISOLF), CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTCPK: CRXPF).
"There's a lot of excitement in the farming community because hemp is seen as a high-return crop. There are many farmers around the country who are struggling to make ends meet and they're looking for an alternative like hemp to boost revenue," said Eric Steenstra, president of VoteHemp, a non-profit that advocates for the commercial sale of hemp. "Right now, CBD is the hot commodity and is a significant driver of the market and profit for farmers… We're trying to keep up with demand for CBD and scale up production," said an industry insider in the CNN article.
CROP INFRASTRUCTURE CORP (CSE: CROP) (OTCPK: CRXPF) BREAKING NEWS: CROP Infrastructure announced today that its first Oklahoma farm’s tenant, Hempire Oklahoma has been issued Medical Cannabis Cultivation and processing licenses at its 1 acre location in Purcell, Oklahoma where the company will focus on high grade flower and extraction. This is a separate location to the company’s 20-acre property that is currently being readied for tenant planting for the 2019 season.
CROP continues to review several existing retail locations to acquire, as well identifying new locations that would be suitable for retail that the company would prepare applications for potential licensed tenants. The company believes with its experience and organic CROP SAFE methodology that it could disrupt the Oklahoma market by providing tenants with the means to produce lower cost high, yet higher quality products. CROP has agreed to fund up to $500,000 USD for the initial start-up of capital for the multiple cultivation and retail locations.
CROP CEO, Michael Yorke, stated: “Oklahoma is a key part of our overall strategy of siting operations on prime land in different, but suitable geographic locations within the US to introduce our tenants, brand portfolio and brand partners to new markets.” Read this full announcement and more news for CROP Infrastructure at: https://www.financialnewsmedia.com/news-crop/
Additional cannabis industry related developments from around the markets:
Canopy Growth Corporation (TSX: WEED.TO) (NYSE: CGC) is pleased to announce that it has acquired German-based, Bionorica SE-founded C3 Cannabinoid Compound Company ("C3") in a transformative deal that will see established single cannabinoid medicines brought together with the world's leading full-spectrum medical cannabis offering.
The all cash-acquisition for €225.9 million (CDN $342.9 million) furthers Canopy Growth's expansion into European markets with prescription medicines and gives the Company immediate access to a wealth of knowledge and intellectual property that C3 has developed in its nearly 20 years of research and development into synthetic and natural cannabis medical products.
Isodiol International Inc. (CSE: ISOL) (OTCQB:ISOLF) is exhibiting at The Efficient Collaborative Retail Marketing Company (“ECRM”) Efficient Program Planning Sessions (“EPPS”): Pet EPPS, through May 01, 2019. This event also marks the debut of Pawceuticals, the Company’s CBD-based product line that naturally aids in restoring a pet’s health.
The EPPS within the ECRM event series allow vendors to have direct discussions with more than 80 retailers and other brands about business objectives, such as product launches, marketing campaigns, and more. The ECRM’s mission is to bring efficiencies to the buying and selling process by optimizing product assortments and enhancing supplier and buyer collaboration efforts through digital and in-person platforms.
Neptune Wellness Solutions Inc. (TSX: NEPT.TO) (NASDAQ: NEPT) is pleased to announce this week its participation at the BMO Capital Markets' 2019 Farm to Market Conference in New York City on May 15 and 16 and the Cowen and Company's Toronto Cannabis Summit on May 22.
At BMO, Neptune's President and CEO, Jim Hamilton, will be presenting at 4:50 pm on May 16, 2019. At Cowen, Mr. Hamilton will participate on the Extraction panel taking place at 2:45 pm on May 22, 2019.
Neptune's management team will also be available for meetings at both events.
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