Hemp, Inc. (HEMP) Applauds Oklahoma for Becoming 37th State to Legalize Hemp

Gov. Fallin signed House Bill 2913 on April 23, 2018, which creates the Oklahoma Industrial Hemp Agricultural Pilot Program. Oklahoma State Reps. Jon Echols and Mickey Dollens said “the bill would help Oklahoma’s struggling economy, as an acre of hemp would yield $1,500,” according to KOCO News 5. “Dollens and Echols say the bill would create hundreds of jobs and would generate about $300 million per year.”

The bill defines industrial hemp as “the plant Cannabis sativa L. and any part of the plant, whether growing or not, with a delta-9 tetrahydrocannabinol concentration [THC] of not more than three-tenths of one percent (0.3%) on a dry-weight basis.” As Hemp, Inc. has routinely stressed, industrial hemp is not to be confused with marijuana, which has different levels of THC. Notably, the number of states with some type of hemp program outpaces states with medical marijuana programs. Oklahoma is the 37th state to allow hemp cultivation, according to Hemp Industry Daily.  Marijuana is legal for medical purposes in 29 states.

“We had the foresight to see how quickly the hemp movement would build momentum,” said Hemp, Inc. CEO, Bruce Perlowin, noting that the demand for America-grown hemp to create a variety of products continues to skyrocket. “America is undergoing a hemp revolution as more states begin to understand the many economic benefits hemp farming and manufacturing can bring to their communities. We applaud Oklahoma for taking this step toward helping its farmers add a viable and lucrative plant to their crop rotation, which helps to support the success of small- and mid-size farms for many years to come.”

Hemp, Inc. began building its 85,000 square foot hemp processing and manufacturing facility in Spring Hope, North Carolina, more than four years ago after identifying a need for a state-of-the-art infrastructure to support the rapid growth of the hemp industry nationwide. Hemp, Inc. continues to be on the frontlines of the hemp marketplace, and recently announced its signed consulting agreement with HQ Global Education, Inc. (HQGE), a scientific research development company, to provide consulting services in an effort to help HQ Global Education, Inc. expand into the hemp cannabidiol (CBD) industry.  According to the agreement, HQGE will receive professional, ongoing, consulting services in the hemp CBD market, specifically in the areas of growing high quality organically-grown CBD-rich hemp, harvesting, extracting and creating a variety of high-end CBD products for its business and partnerships in the industry.

Oklahoma’s action follows news that Senate Majority Leader Mitch McConnell introduced a bill that would remove industrial hemp from the federal government’s schedule of controlled substances.

ABOUT HEMP, INC.

With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. As a leader in the industrial hemp industry with ownership of the largest commercial multi-purpose industrial hemp processing facility in North America, Hemp, Inc. believes there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

HEMP, INC.’S “TRIPLE BOTTOM LINE”
With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. As a leader in the industrial hemp industry with ownership of the largest commercial multi-purpose industrial hemp processing facility in North America, Hemp, Inc. believes there can be tangible benefits reaped from adhering to a corporate social responsibility plan. Thus, Hemp, Inc.’s “Triple Bottom Line” approach serves as an important tool in balancing meeting business objectives and the needs of society and environment at the same time.