Hemp, Inc. (HEMP) Commends U.S. Senate for Passing Farm Bill

Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced today the company commends the U.S. Senate for passing the 2018 Farm Bill in a 86-11 vote, yesterday June 28, 2018.

Bruce Perlowin, CEO of Hemp, Inc., said, “With Veteran Village Kins Community B-Corporations set up in 8 states so far, the legalization of industrial hemp will now allow these future veteran villages to be built and to flourish – creating more support for our veterans than anyone can possibly imagine.” As described below, the Veteran Village Kins Community is designed to grow hemp, and produce CBD products to benefit veterans as well as generate revenue for Hemp, Inc., the Veteran Village, and individual veterans living in the community as well as creating jobs and income for surrounding communities.

To see daily one-minute video updates on Hemp, Inc.’s ongoing progress, go to Bruce Perlowin’s personal FaceBook page. The top Facebook post shows another semi of processed LCM’s being shipped out and the final planting of one of many fields of hemp being grown this year. We also appreciate and encourage everyone to “like”, “comment” and “share” these historical videos documenting the resurgence of hemp to America and the American small family farmer.

The Senate bill includes provisions that would legalize hemp, removing it from the federal list of controlled substances and allowing it to be sold as an agricultural commodity. The bill would also allow hemp cultivators to receive federal crop insurance. Now that hemp legalization language is included in the Farm Bill approved by the Senate, it will be part of discussions by the bicameral conference committee that will merge both the House and Senate bills into a single piece of legislation to be sent to President Trump’s desk for his historic signature, signing the bill into law.

“Consumers across America buy hundreds of millions in retail products every year that contain hemp,” Senate Majority Leader Mitch McConnell (R-KY) said in a floor speech on Thursday, reports Forbes. “But due to outdated federal regulations that do not sufficiently distinguish this industrial crop from its illicit cousin marijuana, American farmers have been mostly unable to meet that multi-million dollar revenue for themselves. It has left consumers with little choice but to buy imported hemp products from foreign-produced hemp.”

According to Hemp Business Journal, the hemp industry is projected to grow 700% and hit $1.8 billion by 2020.

“The Senate’s passage of the Farm Bill with provisions that would allow hemp to become America’s newest agricultural commodity nationwide is desperately what our farmers need to ensure the profitability of their operations for generations to come,” said Hemp, Inc. CEO Bruce Perlowin. “This action brings us one step closer toward creating a new chapter in our country’s history that will end decades of prohibition that have barred many U.S. farmers from having access to this highly profitable plant.”

Hemp, Inc.’s multi-purpose industrial hemp processing facility in Spring Hope, North Carolina became operational in August 2017 after North Carolina allowed farmers to begin planting hemp seeds for the first time in decades. In August 2017, the company also announced the official launch of its NuAxon Tech CO2 Supercritical Extractor. On Nov. 2, 2017, Hemp, Inc. announced the delivery of its advanced cannabidiol (CBD) hemp oil extraction post-processing equipment, thus completing the company’s hemp oil extraction infrastructure. (That’s our Division #2 – Hemp “extraction” infrastructure).

To capture the booming CBD market, Hemp, Inc.’s long-term strategy is to build the world’s largest hemp oil extraction infrastructure by creating joint ventures with multiple companies to house and operate their CBD extraction equipment in its Spring Hope multi-purpose industrial hemp processing facility and in other locations around the country.  This will create a network of extractors as opposed to one giant company trying to dominate the industry. As stated above, there are already Veteran Village Kins Communities B-Corporations already set up in 8 different states because, after all, there are veterans everywhere, and each community will grow their own hemp and will be extracting at the same location to provide bulk CBDs to other companies that are manufacturing their own products.