VANCOUVER, BC / ACCESSWIRE / October 11, 2019 / GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CSE:GHG)(OTCPK:GBHPF)(FRANKFURT:GHG) is pleased to announce the 2019 harvest at its joint venture CBD hemp farm in Scio, Oregon is underway.
Pre-harvest testing for the Oregon Department of Agriculture on the current hemp crop was recently conducted at the farm. Covered Bridge Acres Ltd. (“CBA”), the JV’s operating company has now received the final results of these tests, and just as last year, this year’s hemp crop has compliant THC levels. Once CBA received these results, they began a selective harvest of buds concurrently with the general harvest for extraction to be completed over the next two weeks.
Strains chosen for this year’s outdoor crop are low in THC and are expected to produce CBD levels near 20%. Similar strains are now being grown in the greenhouses for the fall harvest program.
The Company is now expanding its growing operations to include year-round production from its greenhouses. The Scio team has now populated the first greenhouse (approx. 3,000 sq ft) for a fall harvest. It is expected that expansion into the adjacent greenhouse, one of similar size, will occur over the next 2 weeks. While the remaining larger greenhouses are presently being utilized for processing the current harvest of the outdoor crop, once complete, cultivation will expand into all of the greenhouses on the farm. Post-harvest, an additional 4,000 sq ft greenhouse will be installed to increase the available indoor growing area. Management is currently evaluating greenhouse expansion plans in order to generate a year-round revenue stream for the Company.
Follow the development of the Scio Oregon Hemp Project on Instagram @hemp_global
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE:GHG) (OTCPK:GBHPF) (FRANKFURT:GHG), is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The Company is headquartered in Vancouver, British Columbia, with hemp cultivation operations in Oregon State. The first phase of this strategy is to develop hemp cultivation with the objective of extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near term revenue stream that will allow the Company to expand and develop successive phases of the strategy. The second phase of the plan will focus on the development of value-added industrial hemp products utilizing the processing of the whole hemp plant, as envisioned in the Company’s Hemp Agro-Industrial Zone (HAIZ) strategy.
Cautionary Note Regarding Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, the legality of cannabis and hemp. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Global Hemp Group
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