Demand for CBD Products Spurring Large Increase of Farming Operations of Cannabis In U.S.

PALM BEACH, Florida, May 30, 2019 /PRNewswire/ -- "The demand for CBD products is exploding. At the moment the demand is far outpacing the supply," said Heather Darby, a hemp expert at the University of Vermont Extension who has advised agricultural officials and prospective hemp cultivators in Massachusetts. "Farmers and businesses are scaling up production quickly and moving from producing an acre to producing 50 acres. About 1,500 to 2,000 hemp plants can be grown per acre generating between $40,000 and $50,000, according to information provided by Brightfield Group, a Chicago-based cannabis research firm. An article on Marijuana Moment said: "Industrial hemp production significantly increased in the U.S. in 2018, with farmers cultivating three times as many acres of the crop as compared to the previous year…  the pool of farmers licensed to grow hemp… expect another massive surge in 2019 thanks to hemp's outright legalization through the new Farm Bill… Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTC: NUGS), Terra Tech Corp. (OTC: TRTC), Aphria Inc. (TSX: APHA) (NYSE: APHA), HEXO Corp. (NYSE: HEXO) (TSX: HEXO),  Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB).

"Farmers and businesses are scaling up production quickly and moving from producing an acre to producing 50 acres… About 1,500 to 2,000 hemp plants can be grown per acre generating between $40,000 and $50,000, according to information provided by Brightfield Group, a Chicago-based cannabis research firm. "It's hard to say what's going to happen. Right now, it's an open market. People are trying to work as fast as possible to meet that high demand," said an industry expert. "People think there's a lot of money to be made ... big profits. That may be true, but you have to have a crop to be able to obtain a profit…"

Cannabis Strategic Ventures, Inc. (OTCQB:NUGS) BREAKING NEWS:  Cannabis Strategic Ventures today introduces the strategic direction of its wholly owned and operated flagship farm, NUGS Farm North, located in Northern California. The fully operational, six-acre marijuana cultivation operation is expected to reach complete capacity by the fall of 2019, and will position Cannabis Strategic Ventures as one of the largest cultivators in terms of volume in the state of California.