We like to check in periodically with Hemp Inc (OTCMKTS:HEMP) here at Street Register, and today, we’re eager to pass along the message sent out by the company in reaction to a huge development in Arizona.
The State legislature has passed an industrial hemp bill, and it fits in nicely with HEMP’s 500-acre Arizona hemp farming infrastructure moving into high gear in anticipation of just such an event.
Arizona’s House (Committee of the Whole) passed SB1337, amended, on 5/8/17 after the Senate passed it on 2/23/17. Proposed by Senator Sonny Borrelli, the bill would legalize the production, processing, sale and distribution of industrial hemp for commercial purposes and be treated as an agricultural crop subject to regulation by the Arizona Department of Agriculture, and that could mean dollar signs for Hemp Inc (OTCMKTS:HEMP).
Senator Borrelli believes hemp would be a “good cash crop” for Arizona farmers since it can be used for a multitude of products ranging from fiber for clothing to oil. Thus, Arizona is “on the verge of authorizing its farmers to start growing hemp” according to one local new source.
According to Bruce Perlowin, CEO of HEMP, the company’s 70,000 square-foot multi-purpose industrial hemp decortication facility, in Spring Hope, North Carolina, is set to be fully operational any day now and will be the largest hemp processing plant of its kind in the western hemisphere. “Our type of commercial facility is an essential part of industrial/processing infrastructure necessary for the emerging, large scale industrial hemp industry in America. Now that we have that in place, we are focusing on building the farming infrastructure all over America. Acquiring a hemp baler in North Carolina, growing hemp clones in Colorado, joint ventures in Kentucky, and establishing the Arizona ‘Veteran Village Kins Community’ are the ways we have, thus far, implemented the first phase of our massive expansion plan to grow hemp in all legal states,” said Perlowin.
The Hemp University is the educational infrastructure and Hemp, Inc.’s CO2 Critical Extractor purchase is part of an already existing and rapidly expanding extraction infrastructure in America.
Perlowin continued, “The legalization of industrial hemp in Arizona would benefit its economy and expand its sources of revenue. Industrial hemp can also improve the agricultural vitality of Arizona. Because of these primary reasons, industrial hemp will continue to increase in demand.” He went on to say, “For the last 3 years, I’ve been planning for the legalization of hemp in Arizona by building a ‘Hemp Growing Veteran Village Kins Community’ on 500 of our 4,500 acres in Arizona, north of Kingman.” The eco-villages would also include organic gardens, natural beehives, a pond, a living fence and other elements. (Source: Marketwired)
So the company used foresight to position itself for the eventual legalization of industrial hemp in Arizona, and now its vision has come to fruition. HEMP has been one of the biggest names in the cannabis space for years now, and with this latest development, could be ready to take the next step.
We’ll have a growing interest in continuing to track HEMP, particularly with regard to this latest occurrence and how that figures to factor into the company’s plans and direction moving forward. We’ll keep up with the story, and you can keep up with us! Stay locked to Street Register for updates, and we’ll deliver important developments on HEMP as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in HEMP stock, short or long.