Approval of US Farm Bill Green Lights Hemp-Fueled CBD Revolution

NEW YORK, December 13, 2018 /PRNewswire/ --

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US lawmakers finally struck a deal for the landmark 2018 Farm Bill on November 29, ending months of partisan debate and kicking off a new era of hemp-derived cannabinoid markets. The bill effectively legalizes hemp growing for the first time in nearly a century, and opens up the possibilities for the production of cannabidiol (CBD). Several companies are primed to benefit from the mainstreaming of CBD, including Green Growth Brands (formerly Xanthic Biopharma Inc)(CSE:GGB)(OTC:XTHCF), Medmen Enterprises Inc. (CSE: MMEN)(OTC: MMNFF), Acreage Holdings Inc. (CSE: ACRG)(OTC: ACRZF), Green Thumb Industries (CSE: GTII)(OTC: GTBIF), and Harvest Health & Recreation (CSE: HARV)(OTC: HTHHF).

Now with a green light to CBD, developers of cannabinoid-infused products are off to the races. Ahead of the Farm Bill's announcement, Green Growth Brands (CSE:GGB) (OTC:XTHCF) established its first-mover advantage in the CBD space with its brand, Seventh Sense.

Seventh Sense is a unique line of CBD-infused beauty products. Green Growth Brands (CSE:GGB) (OTC:XTHCF) aims to have the brand on shelves in all types of retail locations including drug stores, grocery stores, and the company's own chain of stores dubbed The Source.

Containing less than 0.3% tetrahydrocannabinol (THC), the psychoactive ingredient in marijuana, hemp is technically speaking a species of the cannabis plant. However, hemp's medicinal value comes from THC's non-psychoactive cannabinoid cousin CBD, which is already being infused into all types of consumer products, and more are soon to come. With this newly reached agreement, CBD will no longer be in a legal grey area.

CBD's market potential has already been projected to reach $22 billion by 2022 thanks to its non-intoxicating nature. The mainstream potential for CBD products is quite high, even for people uncomfortable with consuming cannabis products that contain the psychoactive cannabinoid, THC.

Back in September, the US Drug Enforcement Agency (DEA) downgraded CBD from a Schedule I drug to Schedule V, allowing for FDA-approved drugs to contain the cannabinoid. The DEA's announcement arrived shortly after rumours began to swirl over leading soft drink bottler Coca-Cola entering the cannabis-infused drink market - only for Coke to back away from the rumours later in October.