Multi-billion Dollar Cannabis Space Continues to Accelerate into Unprecedented Growth Levels

PALM BEACH, Florida, October 2, 2018 /PRNewswire/ --

Financialnewsmedia.com News Commentary 

The legal Cannabis industry is poised for tremendous growth both in the United States and abroad as a more progressive society continues to open its arms to the multi-billion dollar market. According to a recent study by BDS analytics, spending in the space is rapidly increasing, with consumers projected to dump nearly $60 billion into the space by 2027. The North American Market was already valued north of $9 billion in 2017. The impressive growth has been fueled by a number of factors including, but not limited to, decreased legal restrictions, increased consumer acceptance of alternative products, and a rising global supply level. Active cannabis companies in the markets this week include Global Hemp Group Inc. (CSE:GHG) (OTC:GBHPF), HEXO Corp. (TSX:HEXO) (OTC:HYYDF), Golden Leaf Holdings Ltd. (CSE:GLH) (OTC:GLDFF), Liberty Health Sciences Inc. (CSE:LHS) (OTC:LHSIF), CV Sciences Inc. (OTC:CVSI).

Global Hemp Group Inc. (CSE:GHG.CN) (OTCPK:GBHPF) BREAKING NEWS: Global Hemp Group and its joint venture partner Marijuana Company of America, Inc. (MCOA) (the "Partners") are pleased to provide an update on their high yielding CBD hemp project in Scio, Oregon.  

Harvest - Harvest has begun at the farm. Over the next 10 days the team in Scio will harvest this year's crop, which consists of approximately 36,000 high yielding CBD hemp plants that were grown in an orchard style cultivation on 33 acres. The team planted six different cultivars this year to determine which would be the optimal hemp variety to grow in the coming year. The team continues to evaluate hemp cultivars that will provide higher CBD yields and a reduced flowering period, which will allow the team to complete the harvest earlier in the year prior to the fall rains.

Preparation for Extraction - Once the hemp is harvested, it will be dried in preparation for storage prior to processing. Drying this season will take place in the project's four recently completed greenhouses on the farm and will utilize a traditional hanging method, as well as testing an innovative rack drying system. Prior to next season's harvest, the Partners will construct a permanent drying facility on site. Once the hemp is dried to a 10-12% moisture content, it can be stored with little or no cannabinoid/plant matter degradation, prior to extraction.