LAS VEGAS, NV--(Marketwired - Jan 4, 2016) - Hemp, Inc. (OTC PINK: HEMP) reported today that in its home state, Nevada, it is now legal (as of Jan. 1, 2016) to cultivate hemp under current federal guidelines. Based on Senate Bill 305, that won unanimous approval in both chambers of legislature back in May of 2015 was signed into law by Nevada Governor Brian Sandoval giving colleges, universities, and the state Department of Agriculture the right to grow industrial hemp for research purposes under an agricultural pilot program when registered and certified by the Department of Agriculture.
According to the Nevada Department of Agriculture, Statutory Authority - SB 305, an applicant for the agricultural pilot program must be a Nevada resident who is either representing the Department of Agriculture, a Nevada higher institution of learning, or contracted with the Department of Agriculture or higher institution of learning to conduct the pilot or research project on their behalf.
Furthermore, the following regulations set forth by the Nevada State Board of Agriculture state:
"To be a certified agricultural pilot program registered by the Department, the applicant agrees that any information obtained by the Department may be publicly disclosed and provided to law enforcement agencies without further notice to the applicant/registrant; that the Department may inspect, sample and have unrestricted access to all plants, growing or harvested, all land, buildings and other structures used for cultivation or storage and all documents and records pertaining to the pilot program; that the applicant/registrant shall pay for any sampling and analysis costs the Department deems necessary... A sample test result greater than 0.3% THC will be considered to be conclusive evidence that the registrant is out of compliance with this act. Upon the receipt of such a test result, the Department may revoke the certification and order the destruction of the plant materials at the applicant/registrant expense; the applicant/registrant shall submit all reports by the required due dates specified in the certification; the applicant has not been convicted of any felony related to the possession, production, sale, or distribution of a controlled substance in any form in this or any other country within 10 years of the date of the application; the applicant will provide a current law enforcement background check; an application for the certification of a pilot program must describe a research purpose regarding the growth, cultivation or marketing of industrial hemp."
Bruce Perlowin, CEO of Hemp, Inc. (OTC: HEMP) said, "While the future of our company's operations are in North Carolina, with our decortication facility, Nevada is still our home state so we couldn't be more enthusiastic about the progress Nevada is beginning to make in our sector. Thus, we are exploring the various avenues of how we can possibly grow here in Nevada as well. Hemp, Inc., for example, could possibly provide hemp seed to farmers." The NV Department of Agriculture requires any hemp research project to use certified seed in which Hemp, Inc. could be the potential supplier.
Per the NV Department of Agriculture, "A certified hemp research project must use certified seed. An applicant may request that the Department import certified seed. If the Department agrees to request the importation of seed, the applicant agrees that: the Department is not liable for and does not warrant that the seed is fit for any purpose; the applicant will pay in advance 100% of the costs associated with the importation of such seed, plus $1.00 per pound of seed; and, any seed that is not used will become the property of the Department without charge or reimbursement required."
Aside from possibly supplying certified seed to growers in Nevada, there are potentially many more opportunities for Hemp, Inc. (OTC PINK: HEMP) in the state of Nevada since hemp cultivation has been legalized. "Whether we end up growing industrial hemp, joint venturing, funding, producing hemp fiber with our portable decorticating machines, producing CBD's, or engaging in any other possible, profitable business venture, Hemp, Inc. is already positioned to be the driving force and avant garde of the industrial hemp movement in our corporate headquarters state of Nevada, as 2016 progresses."
"Even though Hemp, Inc.'s direction has shifted towards more advanced processing in the milling line with its multipurpose industrial hemp processing facility in Spring Hope, North Carolina, the company is one of the best sources for premium hemp materials," noted Perlowin. A leader in the industrial hemp industry, Perlowin was recently honored with the Jack Herer Cannabis Hemp Award in recognition of Hemp, Inc.'s "Major Achievement in the Hemp Industry".
Producer and Co-Creator of the Jack Herer Cannabis Awards, Michael Whalen, recognized Perlowin and Hemp, Inc. as having a major impact within the industrial hemp industry as one of a handful of people paving the way for others "as this multi-billion dollar industry unfolds after being suppressed for decades."
The awards ceremony was held to not only benefit and bring awareness to the hemp industry, but awareness to the industry in Las Vegas, Nevada. With the new law allowing hemp cultivation in Nevada as of the beginning of this new year, it's safe to say this has definitely brought awareness to the industry in Nevada. As such, Jeannie Herer (Jack Herer's widow) plans to build a museum made out of hempcrete to honor her late husband... the man who spent years as a pro-cannabis and hemp activist. Their goal is to have the first hempcrete building built in the state of Nevada.
According to Perlowin, Herer's goal to have a hempcrete building in Nevada can be within reach in 2016.
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UPDATE ON HEMP, INC.'S DECORTICATION LINE
Hemp, Inc. continues to update its shareholders every step of the way. According to its most recent video update (publishedDecember 22, 2015), the multipurpose industrial hemp processing plant in North Carolina, nestled on 9 acres, is nearing completion. The frame for the industrial hemp testing lab has been built. The transformer is complete. The disconnect switch is in place. Electricians continue to finalize miles of electrical work.
Outside the facility, the kenaf field will soon be cut and later brought inside for baling. According to David Schmitt, IHM's COO, the first frost kills the kenaf, then it sits in the field to defoliate. When the moisture content drops below 12%, it's ready to be baled. The Hemp, Inc. portable decortication machine is also being re-designed for optimal efficiency. Not only is it expected to produce millions of dollars in revenue a year from processing kenaf and, later, hemp, it's aligned with Hemp, Inc.'s commitment to the American farmers and to spearheading a new clean, green American Agricultural and Industrial Revolution.
While Hemp, Inc. will continue to market its hemp-based cosmeceutical and nutraceutical product lines, the legalization of industrial hemp in North Carolina has been a game changer for the company. Hemp, Inc. expects its decortication line to be fully operational by the second quarter of 2016. It is the only commercial facility in America at this time that will be able to process raw hemp.
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HEMP, INC.'S TRIPLE BOTTOM LINE
Hemp, Inc. (OTC PINK: HEMP) seeks to benefit many constituencies from a "Cultural Creative" perspective, thereby not exploiting or endangering any group. CEO of Hemp, Inc., Bruce Perlowin, is positioning the company as a leader in the industrial hemp industry, with a social and environmental mission at its core. Thus, the publicly traded company believes in "up streaming" a portion of its profits back to its originator, in which some cases will one day be the American farmer -- cultivating natural, sustainable products as an interwoven piece of nature. By Hemp, Inc. focusing on comprehensive investment results -- that is, with respect to performance along the interrelated dimensions of people, planet, and profits -- the triple bottom line approach can be an important tool to support its sustainability goal.
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