California Governor Signs Historic Bill to Legalize Smokable Hemp and CBD Edibles
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NEW YORK, Oct. 19, 2021 /PRNewswire/ -- Nearly four years after legalizing recreational marijuana, California has finally opened the path to make smokable hemp and CBD-infused foods and beverages legal. Governor Gavin Newson signed the bill earlier this month to legalize the sale of consumables derived from hemp, creating a regulatory framework for the manufacture and sale of hemp products like smokable hemp, and hemp-infused foods. This new bill is welcome for many companies in the hemp industry, which has remained unregulated since the federal legalization of hemp and CBD. While companies are still waiting for California lawmakers to establish a tax scheme for hemp and hemp derivatives, they are allowed to sell their products in other states. Meanwhile, companies like Sundial Growers Inc. (NASDAQ:SNDL), Tilray Inc. (NASDAQ:TLRY), Organigram Holdings, Inc. (TSX:OGI) (NASDAQ:OGI), and HEXO Corp (NASDAQ:HEXO) are ramping up their production, distribution and marketing efforts, and Sixth Wave Innovations Inc. (OTCQB:SIXWF) (CSE:SIXW) is positioned to help them tie their efforts towards better yields.
The new legislation lays the groundwork for the manufacture of high-quality hemp products creating a significant opportunity for Sixth Wave Innovations Inc. (OTCQB:SIXWF) (CSE:SIXW), the company behind the Affinity system. Affinity is a cannabinoid purification system, which isolates specific cannabinoids from crude cannabis oil.
The company recently announced the shipment of the Affinity system from the contract manufacturer, Advanced Extraction Systems Inc. (AESI). AESI completed the wet testing for the system before shipping it to Sixth Wave for the final configuration. Once configured, Sixth Wave will deliver the system to Green Envy Extracts.
The system, once delivered, will be subject to a commissioning/optimization process. The Affinity system has a production capacity of 6kg of high purity distillate, every ten hours. Sixth Wave Innovations Inc. also plans to deliver a larger system in December. The system will be capable of about 14kg/10 hours or more than 30kg/day.
"Launching this small system provides Sixth Wave with a fast track to ensuring that every major design component is operating as expected and improvements are incorporated into the delivery of larger production units. The smaller system will be used to service new clients and support the company's quality improvement program. As an example, the company is ready to finalize the SOPs for processing high CBD hemp extracts and can already meet Canadian regulatory requirements for reduced THC levels. This includes promising data to indicate that THC compliant products for the USA are possible as well," said John Cowan, COO of Sixth Wave.
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|Diskussion: Sixth Wave Innovations INC WKN: A2PK5X ISIN: CA83011Y1088 Ticker-Symbol: AHUH|
|Diskussion: Tilray 2.0|