- Sen. Mitch McConnell (R-KY) is a lead sponsor of ‘The Hemp Farming Act of 2018’, which would remove hemp from scheduled list of controlled substances, making it a legal crop
Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) is joining other leaders in the hemp industry through its anticipation of the impending Senate bill, sponsored by Majority Leader Mitch McConnell, that would remove hemp from the scheduled list of controlled substances in the U.S. and, instead, make it an agricultural commodity (http://cnw.fm/0QaGf). “It’s now time to take the final step and make this a legal crop,” Sen. McConnell said during a press conference (http://cnw.fm/iN6P3).
The Hemp Farming Act of 2018, if passed, would bring hemp farming into the mainstream. Time quoted Eric Steenstra, president of advocacy group Vote Hemp, as saying, “This is a huge development for the hemp industry. Sen. McConnell’s support is critical to helping us move hemp from research and pilot programs to full commercial production.”
Global Hemp Group is a Vancouver, British Columbia-based company with operations in Los Angeles and Montreal. It maintains a dual-phase growth strategy that requires acquisition and development in order to build a synergistic portfolio of companies within the hemp industry. To develop its business model, the company is pursuing joint ventures in the hemp industry, such as its ventures with Marijuana Company of America (OTC: MCOA) related to commercial hemp production on the Acadian Peninsula of New Brunswick, Canada.
In the future, Global Hemp Group intends to establish Hemp Agro-Industrial Zones (HAIZ) where it can develop industrial hemp cultivation as well as operate a variety of processing facilities that transform the hemp plant into sustainable materials that go into a myriad of finished products.
Brian Furnish, president of U.S. Hemp Roundtable, was cited by Time as saying, “The hemp industry is very grateful to Leader McConnell for his strong leadership over the years on behalf of providing Kentucky farmers — and the whole U.S. agricultural community — this exciting new economic opportunity.”
For more information, visit the company’s website at www.GlobalHempGroup.com
More from CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
For more information please visit https://www.CannabisNewsWire.com