Global Hemp Group announces update on hemp growing trials in New Brunswick
Vancouver, BC — (September 21, 2017) - Global Hemp Group Inc. (“GHG” or the “Company”) (CSE: GHG / OTC: GBHPF / FRA: GHG) in conjunction with its joint venture partner, the MARIJUANA COMPANY OF AMERICA INC. (OTC: MCOA) is pleased to provide an update on the first year hemp growing trial conducted in New Brunswick, Canada.
The field portion of this first-year trial is now complete, with results from laboratory analysis of CBD concentrations of the flowers and leaves expected within the next two to four weeks. For this initial growing season:
two farmers were contracted in northeast New Brunswick to participate in the trial
three varieties of hemp were grown on Test Plot 1 (CFX1, CFX2 & CRS1)
two varieties of hemp were on Test Plot 2 (CFX1 & CFX2)
three planting densities were utilized (15, 30 & 50 kg/ha)
straw yields ranged from 1.10 to 2.47 tons/ha
flower production ranged from 0.79 to 1.69 tons/ha
These results confirm what was seen from casual observation. This year’s yields are somewhat lower than expected, due to the late planting and incomplete field preparation (both which will be rectified for the 2018 cultivation), and lack of rainfall in the Spring. In 2018, taller varieties of hemp will be grown to increase straw yields and flowers. For the 2017 trial, the CRS1 outperformed the other varieties in straw production, and CFX2 produced the best flower yields. These results are indicative of the performance of varieties under largely unfavourable conditions.
Farming – As the future focus of the project will be on flower and straw production, other varieties with higher straw and similar flower yields will be selected for next year. GHG is currently evaluating a number of varieties for the coming year.
Next year’s production will focus on five experienced farmers cultivating a total of 125 acres. GHG has also recruited an agronomist to provide agronomic support to the farmers. Interaction with the farmers will be essential in finding solutions to practical problems that will inevitably arise. To maximize the visibility of the hemp farming experience in the region, farmers were selected across the northeast region of NB.
Industrial site selection – Bathurst appears to be the logical central point to process the straw and flowers coming from as far as Campbellton (75 km to the west) and from Miramichi (75 km to the southeast). The area comprises close to 40,000 acres, mostly in field crops, making hemp an excellent alternative.
There are many industrial sites currently available in the Bathurst region since the closing of the paper mill and mines in the area. The city of Bathurst identified a number such sites in and around its industrial zone that Management recently visited. The mayor of Bathurst and his team were very supportive in the effort to bring processing/job creation to the region. Other sites outside the Bathurst city limits were also explored as possible processing locations.
Research and training – Bathurst is also the site of a very dynamic college, the Collège Communautaire du Nouveau Brunswick (CCNB), with its innovation center designed to support innovation in industry. The project has already benefited from its laboratory capacity in analyzing this year’s hemp samples. The centre is expected to be helpful in addressing some of the technical issues associated with crop production and processing, and training.
Selection of industrial processes.
GHG plans to focus on the processing of the flowers for cannabinoid extraction as legislation permits, and the straw for fibre and hurd products. Discussions regarding the engagement of key technological partners is continuing. Once finalized, they will be included in the next version of the project overview that will be submitted to Opportunities New Brunswick in the coming months.
In addition, the Company is pleased to report that all resolutions were passed at its recent Annual General Meeting held earlier this month. The Board of Directors would like to thank all shareholders for their continued support and confidence.
The Board of Directors and Officers for the upcoming year will consist of:
Charles Larsen – President, CEO, and Director
Curt Huber – CFO, Director, and Chairman of the Audit Committee
Paul Perrault – Director and Audit Committee Member
Jeffrey Kilpatrick – Director and Audit Committee Member
The Company also announces that it has granted an aggregate total of 8,750,000 incentive stock options to its directors, officers, and consultants, in accordance with the Company’s Stock Option Plan. The options are exercisable at a price of $0.05 per share and will expire between September 20, 2019 and September 20, 2022.
About Marijuana Company of America, Inc.
MCOA is a corporation engaged in business including, but not limited to: (1) product research and development of legal hemp-based consumer products containing CBD under the brand name “hempSMART™”, that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreations use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC: 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 New Brunswick and Oregon. 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.
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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.
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