Hemp, Inc. Enters Agreement with JNV Farms LLC to Obtain Majority Ownership in Oregon Hemp Company and Hemp Processing Center
Sep. 06, 2018
Spring Hope, NC, Sept. 06, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced today the company has entered into a majority ownership agreement with JNV Farms LLC for an Oregon hemp cultivation and processing company in Medford. As the majority owner of the hemp cultivation and processing company, Local Processing Center, Inc. (LPC), Hemp, Inc. will be able to create a pipeline of industrial hemp and hemp products in states, where legal, on the West Coast. This makes Hemp, Inc. a bi-coastal hemp processing center in America with many more Hemp Local Processing Centers planned for other areas where Hemp is being grown.
Per the agreement, Hemp, Inc. and JNV Farms will work together to offer drying, curing, storing and clones for the hemp industry where it is legal to do so. Profits in LPC will be shared 50/50 between Hemp, Inc. and JNV Farms. Eighth-generation farmer Nicolass Vanderwey will serve as the President and CEO of LPC. Hemp, Inc. will designate the CFO of LPC. Both companies will also designate one member to LPC’s board and together those board members will serve as co-chairman of the Board.
“The climate in this region is ideal for hemp cultivation,” said Vanderwey. “We expect to start generating revenue within 30 days of the first harvest, and we look forward to creating jobs and working closely with the local community to position Medford on the forefront of Oregon’s hemp industry.”
JNV Farms provides services to legal hemp growing companies in Oregon, including but not limited to drying, curing, and storing hemp for commercial use. JNV Farms is the sole lessor for the land upon which LPC operations will commence, and the company has already begun the installation of eight greenhouses for a total of 23,040 square feet on the 8.9 acre property. In addition to the eight greenhouses, the property has a 3,744 square foot building and the company will add a 12,000 square foot facility that will be utilized for curing hemp and propagating clones. LPC is expected to cure 10,000 pounds of industrial hemp per week.
“We look forward to working with such a seasoned company such as JNV Farms,” said Hemp, Inc. CEO Bruce Perlowin. “The timing is ideal as we get closer to bringing our King of Hemp™-branded products to market, including high-end cannabidiol (CBD) hemp pre-rolls and hemp buds. JNV Farms brings decades of growing experience from overseas to the U.S. market, and with our proven track record of success at our headquarters in Spring Hope, North Carolina we are confident this agreement for Local Processing Center signals the start of a fruitful relationship that will create increased value for our shareholders.”
The processing center in Oregon, via this strategic agreement with JNV Farms LLC, brings a bi-coastal presence to Hemp, Inc. Along with its east coast 85,000 square foot hemp processing and manufacturing facility, on 59 acres in Spring Hope, the additional processing center on the west coast has expanded the company’s hemp processing footprint in the industry. Hemp, Inc. is now one of the few, if any, with not one, but two processing centers. Executives will continue to scout more strategic locations for a third, fourth and fifth processing center where hemp is being grown. Updates will be announced in future press releases.
Hemp, Inc. announced Aug. 9, 2018 that the company’s executive team was visiting states across the country with industrial hemp cultivation programs to identify viable locations for the opening of local industrial hemp manufacturing and processing centers with Oregon being one of the company’s target markets. Oregon is seeing an increase of marijuana farmers turning to hemp as the price per pound for marijuana drops and hemp’s value continues to climb. The Hemp Business Journal estimates the U.S. hemp industry will grow to a $1.9 billion dollar market by 2022.
Hemp, Inc. is also helping to build the industrial hemp infrastructure that was basically non-existent in America. And five years later, it’s still in its infancy as the nation, gradually, embraces industrial hemp as a new emerging multi-trillion dollar industrial agricultural green revolution. Hemp, Inc.’s focus has been on building five hemp infrastructures, Divisions One through Five.Division One – The Industrial Hemp InfrastructureDivision Two – The Hemp Extraction InfrastructureDivision Three – The Hemp Farming InfrastructureDivision Four – The Hemp Educational InfrastructureDivision Five – The Hemp Marketing Infrastructure
Hemp, Inc.’s strategic hemp growing partner Veteran Village Kins Community Arizona, Inc. has a 500-acre Veteran Village Kins Community in Golden Valley, Arizona. The Veteran Village Kins Community is designed to grow hemp and produce cannabidiol (CBD) products to benefit veterans as well as generate revenue for Hemp, Inc., the Veteran Village, and individual veterans living in the community. Already a $100 million industry, the CBD market is expected to grow over 700% and balloon to $2.1 billion by 2020.
For a more complete description on the Veteran Village Kins Community, read the following, modified, October 24, 2017 press release, Hemp, Inc. Announces Strategic Hemp Growing Partner "Veteran Village Kins Community Arizona, Inc." Completes Final Site Plan Blueprints, below: Hemp, Inc. has announced that its strategic growing partner, "Veteran Village Kins Community Arizona, Inc.," has completed its final site plan blueprints for its 500-acre site in Golden Valley, Arizona (20 miles north of Kingman, AZ and 90 minutes from Las Vegas, NV). The site plan was submitted to the Mohave County Building Department for final review. The Company is also in the final stages of completing the necessary infrastructure to support an off-grid, renewable, energy system. With the solar equipment in place, the site's solar power operation will be completed in the next days.As soon as the live streaming video cameras are up and operational, the world can actually see the way the Veteran Village Kins Community is designed and watch it being built. According to Perlowin, the basic framework or overall plan of the Veteran Village Kins Communities is to create a holistic healing and learning center that is designed to educate and heal veterans with PSTD, alcoholism, meth addiction, opioid addiction, and other psychological conditions while at the same time training them on the numerous aspects of being part of the emerging multi-billion dollar hemp industry. We will also be building hemp-growing communities for other groups such as "Abused" Women & Children Village Kins Communities, the "Orphaned" Children Village Kins Communities, "Homeless" Village Kins Communities and the "Healers" Village Kins Communities (the healers are professionals who are knowledgeable in the modalities to treat these traumatized groups). These particular communities are all synergistically aligned to work simultaneously supporting each other.For example, the "Healers" heal the traumatized veterans and women & children; the women support orphan children and orphan children want to see people living in homes and not homeless. Thus, a portion of the hemp grown in each community goes to create and support another community, giving everybody a sense of giving back and helping others as they help themselves. This circles back to the healers who also work to heal the veterans and the other traumatized groups. This is the economic foundation on how the sale of the hemp products operates as a "quantum economic matrix" or an example of "symbiotic economics" which is more complex than this brief description allows.Dwight Jory, the Project Manager for the "Veteran Village Kins Community Arizona, Inc.," said, "We are very happy with the progress. Our Kins Community is really beginning to come together." In anticipation of planting to begin during the spring, 300 acres have been fenced, 16 overnight trailer park sites are under construction, and six 40x40-ft organic vegetable gardens have been planted and are currently producing food and kenaf, according to Jory. These organic gardens double as experimental growing modules using an entire array of different growing technologies to see which modalities grow the best in a desert environment. As for the 6 geodesic domes mentioned in an earlier press release, 1 is structurally complete with only the electrical and plumbing to be completed. The rest are on site awaiting final site plan approval."We are now accepting volunteers who have expressed an interest in helping to build the first Kins Community for our veterans," said Jory. Those interested in making the first hemp growing CBD-producing "Veteran Village Kins Community" become a reality should contact Ms. Sandra Williams via email (firstname.lastname@example.org).One thousand trees, on 36 of the 500-acres, have also been planted, with an additional 1,000 trees on order. The "Veteran Village Kins Community" will include a 100,000-square foot GMP compliant, central processing plant, a state-of-the-art testing laboratory, and various health and wellness centers to support veterans who may have psychological, emotional or health issues."As Hemp, Inc. positions itself on the forefront of America's industrial hemp revolution, we see our partnership with 'Veteran Village Kins Community Arizona, Inc.' being paramount in supporting the small family farm movement that we are confident will reshape the American landscape," said Perlowin. "As we work toward getting our eco-village up and running in Arizona, we are also aggressively scouting strategic locations in other states including North Carolina, South Carolina, Florida, Georgia, Kentucky, Tennessee and West Virginia. Giving veterans and other Americans a place to learn new skills and take part in this multi-billion-dollar hemp CBD market is very exciting. It's a big part of our mission to give back. Recently we have expanded our Kins Community concept internationally focusing, but not limited to, Israel, New Zealand, Canada, Africa, and Uruguay." According to Perlowin, we hope to have 50 "master hemp growers" working on their first Veteran Village Kins Community in Arizona. To date, we have growers from Oregon, Colorado, California, Kentucky, North Carolina, Nevada and, Arizona who have expressed an interest in pursuing a joint venture with Hemp, Inc. to each grow industrial hemp on 5 of the 300 fenced acres in Arizona. Perlowin says he'll call this "The Great United American Hemp Project." Any grower having an interest in pursuing a joint venture on 5 of the 300 fenced in acres in Arizona should contact Project Manager Dwight Jory. Or, anyone interested in attending the 2 - 7-day hands-on hempcrete house building should contact Dwight Jory as well. (Dates to be determined.)
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.
https://www.facebook.com/KingOfPot (Bruce Perlowin's Facebook Page)
https://www.facebook.com/TheHempUniversity/ (The Hemp University's Facebook Page)
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UPCOMING INTERNATIONAL AND DOMESTIC EVENTS
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