Hemp Inc (OTCMKTS:HEMP) – is on an explosive rise after the Washington Post reported on November 28 that Lawmakers have reached a tentative farm bill deal after months-long impasse. According to the Washington Post Key lawmakers said Wednesday they have reached a tentative deal on a massive farm bill, breaking a months-long impasse over legislation that doles out more than $400 billion in federal funds for farm subsidies, food stamps and conservation efforts. According to HEMP this means the U.S. could federally legalize hemp growing, production and distribution by as early as next week.
Lawmakers have been at odds over a House GOP proposal to boost work requirements for food stamp recipients, but Sens. Pat Roberts (R-Kan.) and Debbie Stabenow (D-Mich.), the leaders of the Senate Agriculture Committee, said they had resolved the debate over the work requirements and other outstanding issues. The senators declined to offer details of the emerging compromise, cautioning that it was not final and could change pending completion of cost analyses and legislative language. Nonetheless, both expressed optimism the legislation could pass before the conclusion of Congress’s lame-duck session next month.
This is big news for North Carolina based Hemp Inc., a global leader in the industrial hemp industry with bi-coastal processing centers including the largest multipurpose industrial hemp processing facility in the western hemisphere. Hemp, Inc.’s 70,000 square foot industrial hemp processing facility, on over 9 acres in Spring Hope, North Carolina, is the only one of this magnitude in North America. It is indeed bound to become the mecca of this new clean green agricultural and industrial American revolution. Based on a variety of factors, Perlowin believes North Carolina is strategically positioned to be the largest hemp producing state in America by 2018. However, Kentucky and West Virginia (where Perlowin is currently traveling visiting hemp growing sites) will join this industrial hemp hub along with Virginia, Pennsylvania, New York, Tennessee, South Carolina, and Georgia. Most of these states were historically considered the hemp hub of America and will be again this time next year.
According to HEMP this product alone is capable of producing millions of dollars in revenue, since some of the largest oil companies in the world will be our primary customers. Eventually, the company will produce fiber materials for the paper and fabric industries, and other industries that utilize materials from hemp to make products such as plastics, building materials, health and beauty related products and more. Hemp, Inc. plans to purchase, acquire and/or joint venture with complimentary companies across various sectors of the hemp industry in an effort to build a portfolio of synergistic businesses that will bring Hemp, Inc. cash flow, revenues, value, and position us as a leader in the industrial hemp industry.
There are now over 40 states in the nation that have legalized hemp. In 2017, the acreage of hemp production expanded by 163 percent through agricultural sites in 19 states. The major driving factor is the cannabidiol (CBD) market, which is growing enormously in the United States and beyond. Companies seeking to enter or further develop their footprint in the industrial hemp marketplace are aligning with Hemp, Inc. for the company’s proven expertise and state-of-the-art hemp processing and manufacturing infrastructure in Spring Hope, North Carolina. Hemp, Inc.’s 85,000 square foot industrial hemp processing and manufacturing facility has been operational since August 2017.
HEMP CEO CEO Bruce Perlowin commented on the expected passage of the Farm Bill “This is an exciting update regarding the expected passage of the 2018 Farm Bill, which would include provisions to legalize industrial hemp. McConnell has confirmed that the provision legalizing hemp as an agricultural commodity will be included in the final version of the bill, which will allow hemp farmers across the country to commence their trade. As these legal avenues create new opportunities to join the hemp movement, Hemp, Inc. continues to further expand its footprint by entering new markets and working with farmers across the nation.”
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Disclosure: we hold no position in HEMP either long or short and we have not been compensated for this article.