SPRING HOPE, N.C., Jan. 18, 2018 (GLOBE NEWSWIRE) — Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with the largest hemp mill in the western hemisphere, announced today that Company executives gained national and local media coverage for their insight on the latest developments in the hemp regulatory landscape.
The Marijuana Business Daily posted an article, Sessions’ Marijuana Antagonism Spooks Hemp Industry, But Some See Silver Lining, on Jan. 16, 2018 which gave insightful, prudent information on the industrial hemp industry post-U.S. Attorney General Jeff Sessions’ decision to rescind the Cole Memo – a 2013 Department of Justice document – which increased some legal protections for businesses operating in states that allow and regulate cannabis sales. The article not only quoted Hemp, Inc. CEO, Bruce Perlowin saying, “[Sessions’ decision to rescind] … is an incredible opportunity for the hemp industry, because hemp is the safe bet,” but it also drove home that “hemp’s legal status has nothing to do with Sessions’ announcement.” It’s important to note that hemp production “has been enshrined into law by Congress through the 2014 Farm Bill.” This means “the Department of Justice can’t go after hemp growers or processors abiding by the terms of state hemp rules.” It’s the “public’s perception” of hemp that was affected, not hemp’s legal status. “Hemp’s inclusion in the 2014 Farm Bill means its legal status can’t be usurped by an agency memo.” Hemp entrepreneurs “believe the industry could even capitalize on Sessions’ antagonism to marijuana” because “it underscores hemp’s legal certainty.”
Hemp, Inc. executives have been reinforcing that its company is a “safe bet” for investors. Hemp is NOT marijuana. Hemp, Inc.’s huge inventory of approximately 18,000,000 pounds of kenaf, plus approximately 2,000,000 pounds of kenaf to be harvested early this year has a well-established supply chain and will not be affected by any potential marijuana pushback by the federal government.
Perlowin also spoke with the Lake Gaston Gazette-Observer in a Jan. 10, 2018, article about the hemp industry’s reaction to Sessions’ decision to rescind the Cole Memo. The article reports, based on comments from Perlowin, that hemp is a “safe bet” and the administration’s actions will not impact hemp production or manufacturing, adding that the industry will “bring back the American farm, which is part of what will make America great, by making America hemp again.”
David Schmitt, COO of Industrial Hemp Manufacturing, LLC., a wholly owned subsidiary of Hemp, Inc., provided comment to The Hemp Mag in a Jan. 10, 2018, article about the recently introduced Industrial Hemp Banking Act, which could lessen the difficulty of hemp businesses to obtain banking and other financial services. Schmitt says Hemp, Inc. supports the act and praises local farmers in North Carolina and nationwide who are “breathing new life into generations-old family farms through incorporating hemp into their crop rotation.”
Schmitt also spoke with Pittsburgh City Paper in a Jan. 17, 2018, article about Pennsylvania’s announcement to expand the state’s hemp program. He says that expanding the program will create new jobs, adding that “it’s going to be good for the economy of Pennsylvania.”
To read the Marijuana Business Daily article, click here. To read the Lake Gaston Gazette-Observer article, click here. To read The Hemp Mag article, click here. To read the Pittsburgh City Paper article, click here.
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.
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