Top Stocks That Could Benefit From USDA's Hemp Rules Rolling out in August 2019
Financialnewsmedia.com News Commentary
PALM BEACH, Florida, July 11, 2019 /PRNewswire/ -- Hemp has a strong future thanks to the U.S. Farm Bill. In fact, farmers across the U.S. have been rushing for a piece of the hemp market ever since President Trump signed the Farm Bill, which removed hemp from the government's controlled-drug category, triggering a surge in demand. However, farmers could see even more demand, as the U.S. Department of Agriculture (USDA) prepares to introduce federal hemp rules in August 2019, speeding previous plans to roll out the guidelines by 2020. The USDA noted regulations would address land usage, standards for testing, disposal, law enforcement compliance, inspections, and certification for both products and industry workers. That's opening a wide range of opportunity for companies including MYM Nutraceuticals Inc., (CSE:MYM)(OTCQB:MYMMF), Charlotte's Web Holdings Inc. (CSE:CWEB) (OTC:CWBHF), Cannabis Science Inc. (OTCPK:CBIS), Village Farms International Inc. (TSX:VFF) (NASDAQ:VFF), and PharmaCielo Ltd. (OTCPK:PHCEF)(TSX-V:PCLO).
MYM Nutraceuticals Inc. (CSE:MYM) (OTCQB:MYMMF) BREAKING NEWS: MYM Nutraceuticals just announced that its joint venture company (MYM owns 50%), BioHemp Naturals Growing & Farming Ltd. has signed a purchase agreement for 163,000 lbs. of an estimated 675,000 lbs. of CBD-rich hemp biomass currently being grown at the Saskatchewan project. Under the terms of the agreement, the biomass is to be delivered in multiple shipments from the 2019 harvest with final delivery no later than Dec. 31, 2019. A deposit of $650,000 CAD has been received with all remaining payments to be made at the time of delivery. "We are delighted BioHemp has completed its first sale of CBD-rich hemp biomass that is currently being cultivated at the Saskatchewan project", said Howard Steinberg, CEO of MYM. "We are currently in discussions to sell the balance of the estimated 500,000 lbs. of biomass with the hopes that it will all be sold by the end of July." For more information and news for MYM Nutraceuticals, please visit: https://www.mym.ca/
Other cannabis-related developments from around the markets include:
Charlotte's Web Holdings Inc. (CSE:CWEB) (OTCQX:CWBHF) reported final hemp planting for its 2019 growing season. In order to meet growing demand from consumer and retail channel partners, total acres planted for 2019 has been increased to 862, an 187% increase from 300 acres planted in 2018. In 2016, 2017 and 2018, the Company produced 41,000 lbs., 63,000 lbs. and 675,000 lbs., respectively, of dried hemp biomass. "Interest and demand for our products has been exceptional and growing rapidly. Our 2019 planting strategy ensures we will have the required raw materials to deliver on production targets for Charlotte's Web products through 2020 and into 2021," stated Deanie Elsner, CEO of Charlotte's Web. "Our leading CBD hemp varieties under cultivation today are the foundation of our 2020 production plan. Tens of thousands of Americans have come to rely on Charlotte's Web products daily making it essential that our products are always available, efficacious and consistent day-to-day, bottle-to-bottle, year-to-year."
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