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From: NetworkNewsWire (Rep: 0)Date: 06/08/2018 19:45
Forum: Penny Stocks - Msg #1727 - List GBHPF msgs Thread #674014240 (Rec: 0)
Global Hemp Group, Inc. (CSE: GHG) (FRA: GHG) (OTC: GBHPF) and the US Senate Celebrate Hemp History Week

- U.S. Senate declares ‘Hemp History Week’ from June 4-10
- Pending legislation in U.S. Congress to remove restrictions on hemp cultivation
- Hemp cultivation operations underway in the U.S. and Canada for Global Hemp Group

Forty-eight years after the Controlled Substances Act (CSA) of 1970 criminalized its use, hemp may finally be escaping from its stigma as an illegal substance. An omen of that impending legitimacy appeared on Tuesday, June 5, 2018, when the U.S. Senate approved a resolution declaring June 4-10 ‘Hemp History Week’. The resolution made note of “the growing economic potential of industrial hemp” as well as its “historical relevance,” and its unanimous passage augurs well for the industrial hemp industry, which is now rebooting after a hiatus of 60-odd years. Commercial cultivation of hemp in the U.S. effectively ceased after 1958.

This celebration of hemp follows the introduction of the Hemp Farming Act of 2018 in the U.S. Senate, which proposes, among other things, to remove hemp from Schedule 1 of the CSA. The Senate bill further reinforces the legitimacy of industrial hemp and growers like Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG). Together with Marijuana Company of America (OTC: MCOA), Global Hemp is already executing its plan to cultivate hemp on a commercial basis in North America, with operations in New Brunswick, Canada, and Oregon.

Early European settlers to North America cultivated hemp freely. In the U.S., cultivation was concentrated in Kentucky, Missouri and Illinois between 1840 and 1860, but by the early twentieth century, only Kentucky seems to have been still at it. After brief resurgences during the world wars, cultivation in the U.S. practically ceased as legislation, such as the Marihuana Tax Act of 1937, began to take effect.

Although the 1937 legislation did not directly make cannabis cultivation in the U.S. illegal, it did require its authorization from the Federal Bureau of Narcotics (a precursor to the Drug Enforcement Agency), then an agency of the Treasury Department. An exception was made in Wisconsin, which was permitted to produce hemp fiber until 1958. After certain sections were declared unconstitutional, the 1937 Marihuana Tax Act was repealed and replaced with the CSA. Now, there’s increasing likelihood that the CSA itself will be amended. The Senate Majority Leader, who introduced the 2018 changes, is Mitch McConnell, the senior senator from Kentucky, who is undoubtedly aware of his state’s history in hemp.

Global Hemp Group has already launched its 2018 cultivation program for hemp. In conjunction with Marijuana Company of America, the company is working on an industrial hemp project in New Brunswick, Canada. After promising results from the 2017 season, the two companies are planting a minimum of 125 acres of hemp in 2018, with plans to increase that over the following three years, to more than 1,000 acres.

A recent update shows how committed the partners are. The joint venture team will be strengthened by the addition of Joan Parker-Duivenvoorden as project agrologist and field manager. Parker-Duivenvoorden, a graduate of Guelph University, earned a BSc (Agr) majoring in plant protection in 1981. She has garnered over 15 years’ experience with the Nova Scotia Dept. of Agriculture and the New Brunswick Soil and Crop Improvement Association (NBSCIA).

A second collaboration between the partners is also underway. In May 2018, the two companies acquired a 109-acre agricultural property in the fertile Willamette Valley, approximately 70 miles south of Portland, Oregon, to grow CBD-rich hemp. The project includes five greenhouses that are being installed, extending more than 19,000 square feet. The partners have brought together a team of experts in genetics development, clone management and large-scale project and farming operations to develop this project. Cultivation in 2018 will start with 35 acres and expand to all farmable acreage in the coming year.

Continuing its drive to build a portfolio of hemp-based companies, Global Hemp Group has acquired an interest in Cash Crop Today Media, LLC (“CCT”), a global media company focused on the industrial hemp and cannabis sectors and the owner of CashCropToday.com. Global Hemp Group will pay $150,000 for its 50 percent interest in CCT, made up of $60,000 in cash and the issuance of 600,000 common shares of GHG, valued at $90,000 (http://nnw.fm/G8yJY).

For more information, visit the company’s website at www.GlobalHempGroup.com

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