LAS VEGAS, March 23, 2015 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC:HEMP), a leader in the industrial hemp industry reports, today, on current material events in the industrial hemp industry. Bruce Perlowin, CEO of Hemp, Inc. says, "Our American farmers stand by watching how Hemp farming has become a lucrative crop for farmers in Europe, Canada and Asia. It's about time we are seeing more and more States considering some form of hemp legislation. For thousands of years, different varieties of Cannabis have been cultivated for non-drug uses such as paper, textiles, soap, food, building materials and more recently high-tech bio-composites used in automobiles."
The whole industry is abuzz. Here's a look at some material events just in the past week alone:
1. Bill to Allow Industrial Hemp Cultivation Passes in New Mexico - Lawmakers in New Mexico have given final approval on a bill to allow the cultivation of industrial hemp, sending the measure to the desk of Governor Susana Martinez. The House voted 54-12 on Friday to approve Senate Bill 94, the Industrial Hemp Farming Act, which was passed in the Senate earlier this month on a 33-8 vote. The Industrial Hemp Farming Act, would allow for the New Mexico Department of Agriculture to provide for the growing of industrial hemp for research and development purposes. (Source: The Daily Chronic – 3/20/2015)
2. Medical Hemp Legislation Could Be Game-Changer for Epileptic Hoosiers - The hope is in HB1181, a bill that seeks to define industrial hemp in the state. Industrial hemp comes from part of the cannabis plant, also the source of marijuana. The hemp comes from the stalk of the plant and is used for things like textiles, foods and paper. Marijuana involves smoking the cannabis flower. The bill seeks to authorize the marketing of industrial hemp in Indiana. It seeks to make industrial hemp exempt from the definition of marijuana. The part of the bill the Bennetts are interested in "provides that industrial hemp substances are exempt from certain criminal laws when the substances are part of certain medical treatments." The bill includes a medical hemp that is purposely grown high in cannabidiol (CBD), but low in tetrahydrocannabinol (THC). THC is the substance that produces the marijuana high. (Source: WTHR.com – 3/18/2015)
3. U.S. Leads World in Hemp Food, Beauty Sales - U.S. hemp product sales are growing fast. The Hemp Industries Association (HIA; Summerland, CA) estimates 21.2% retail sales growth in 2014 for hemp food and body care products, putting the 2014 total at $200 million. If other hemp-based products are added to the mix—clothing, auto parts, building materials, etc.—the total 2014 U.S. retail market is even higher at $620 million. In food and personal care, popular products like non-dairy milk, shelled seed, soaps, and lotions are driving growth. Loosening regulations around hemp agriculture are also helping to spur the market, including the 2014 Farm Bill that enables U.S. hemp growing for research purposes and the 2015-proposed Industrial Hemp Farming Act, which would allow U.S. growing for commercial use. Sales of food and personal care have steadily trended upward: 7.3% (2011), 16.5% (2012), 24% (2013), and 21.2% (2014). Growth has been quicker in conventional channels (26.8%) than in natural channels (16.3%). These numbers may even underestimate the market size. The association says that because its 2014 estimates from natural and conventional retailers exclude data from some key sellers like Whole Foods Market and Costco, actual total market sales may in fact be 2.5-times higher. (HIA's sales estimates are supported by market researcher SPINS.) (Source: Nutritional Outlook – 3/13/2015)
4. Florida Senate Set to Take up Medical Marijuana Plan – The Senate Regulated Industries Committee on Tuesday is expected to take up a plan that would try to move forward with the state's new medical-marijuana industry. The agenda for the committee meeting indicates it will take up a cannabis bill (SPB 7066), though the detailed proposal had not been posted online as of Saturday. Chairman Rob Bradley, R-Fleming Island, told The News Service of Florida on Thursday he expects the measure would set up a structure for nurseries to grow, process and distribute non-euphoric cannabis. The Legislature and Gov. Rick Scott approved a law last year that allows types of marijuana that are low in euphoria-inducing tetrahydrocannabinol, or THC, and high in cannabadiol, or CBD. Doctors will be able to order the low-THC pot for patients who suffer from severe muscle spasms or have cancer. (Source: The News Herald - 3/21/2015)
5. Medical Marijuana Growers May See New Limits - Oregon legislators are moving to put new limits on the large and mostly unregulated pot growers who ostensibly serve medical marijuana patients. Key lawmakers want to shift the large growers to the tightly regulated recreational marijuana market the state plans to develop after voters last year decided to legalize the drug. (Source: Medical Marijuana Stocks Today – 3/20/2015)
6. Hemp store to open in Lake George - A pair of Colorado Springs paramedics will open a first of its kind hemp store and grow in Lake George this weekend. Visitors to Granny's High Altitude Super Hemp store will find owners Karen Kinne and Jo Dee Weaver eager to tell all about the many uses of the plant. Bath soaps that leave you feeling like you've had a 90 minute massage, hemp and cotton blend bathrobes that get softer the more you wash them. While both hemp and marijuana come from the same cannabis family of plants, hemp doesn't have the intoxicating levels of Tetrahydrocannabinol (THC) found in its more popular cousin. "(Customers) want relief, they want relief from their pain, they want relief from their stress and anxiety, but they don't want to get high," Kinne explained. (Source: KOAA-5 – 3/20/2015)
ABOUT HEMP, INC.'s DECORTICATION PLANT IN NORTH CAROLINA
Hemp, Inc.'s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC was given the green light by Nash county to proceed with the reassembly of its Temafa decortication line in North Carolina. In order to issue Hemp, Inc.'s subsidiary its agricultural exemption, the County required the engineering drawings for the line layout and a farm ID number. The company was issued its farm ID number from the North Carolina Department of Revenue and its engineering drawings for the line layout were approved. The LED lighting system is to be delivered to the plant this week to be installed. Workers continue to go through the entire Temafa decortication line to perform all necessary maintenance on every piece of machinery such as replacing bearings, belts, sprockets, chains and all wear parts. All of the machinery is also being lubricated. Due to prior commitments by Temafa they are unable to send their engineers to Spring Hope, North Carolina until the end of April. Once the lighting has been installed we will begin placing the machinery where it will be mounted permanently, once the Temafa engineers are on site.
After meeting with local farmers on the evening of March 18th, there was a great deal of interest by local farmers to grow Kenaf for Hemp, Inc.'s subsidiary and then Industrial Hemp once it is legal in North Carolina. Representatives from the North Carolina Industrial Hemp Association were also present at the meeting to help educate the farmers about the many uses for Industrial Hemp as well as growing it once it becomes legal.
Hemp, Inc.'s Kenaf crop is expected to be planted late next month.
HEMP, INC.'s TRIPLE BOTTOM LINE
Hemp, Inc. (OTC:HEMP) seeks to benefit many constituencies from a "Cultural Creative" perspective thereby not exploiting or endangering any group. CEO of Hemp, Inc. (OTC:HEMP), Bruce Perlowin, is positioning the company as a leader in the industrial hemp industry, with a social and environmental mission at its core. In fact, he wanted to, consciously, found a business with non-financial goals that weren't an after-thought, but are part of its DNA. Thus, the publicly-traded company believes in "upstreaming" of a portion of profit from the marketing of their finished hemp goods back to its originator, in which most cases will one day be the American farmer, cultivating natural, sustainable products as an interwoven piece of nature. By Hemp, Inc. focusing on comprehensive investment results—that is, with respect to performance along the interrelated dimensions of people, planet, and profits—our triple bottom line approach can be an important tool to support sustainability goals.
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