Can B Corp. Enters the Industrial Hemp Business
Can B Corp. (OTCQB:CANB) has announced significant advancements in its industrial hemp operations. The company recently acquired essential equipment at a farm auction in Colorado to enhance production capabilities at its hemp facility. This includes specialized machinery for efficient growth and harvesting. As Can B enters the industrial hemp sector, it anticipates establishing wholesale off-take agreements for its hemp fiber. CEO Marco Alfonsi emphasized the strategic value of these acquisitions in diversifying revenue streams amidst ongoing recovery from the pandemic.
- Acquired essential equipment to boost production at the industrial hemp facility.
- Entering the industrial hemp business, expanding operational capabilities.
- Plans for off-take agreements indicate potential revenue growth.
- None.
HICKSVILLE, NY / ACCESSWIRE / May 12, 2021 / Can B Corp. (OTCQB:CANB) ("Can B" or the "Company"), a diversified health and wellness company, is pleased to announce its recent purchases of additional equipment in order to increase production at its industrial hemp facility in Colorado.
In addition to the hemp growing and cultivations already underway in CO and NY under our Botanical Biotech division, the Company is entering the industrial hemp business. Fresh from a farm equipment auction in CO, the Company acquired the basic equipment to grow and harvest industrial hemp. The equipment includes specially modified for hemp combines, grapplers, forage wagons, a semi-tractor/ trailer and a plethora of additional equipment for a full-on grow and harvest, all purchases for dimes on the dollar.
For the uninitiated, Industrial hemp is an incredibly useful plant, one said to have literally tens of thousands of applications. Industrial hemp farmers tend to aim to grow the plants up, not out as is the case with medicinal cannabis - and the taller, the better when grown for fiber. This is because some of the great value of industrial hemp in fiber-based applications is primarily in its stalk. Industrial hemp is also grown at quite high density.
Industrial hemp can grow to 5 meters high, with very long fibers. The stem is comprised of the outer "bark" or bast, sought after for textiles; and the inner material called hurd, which is used for other applications. Another very valuable component of industrial hemp is the seed, which is technically a nut. Industrial hemp is a very hardy plant, able to be hard grown in areas where other crops will fail. It can withstand periods of drought, heat and frost and also be cultivated without pesticides or other chemicals. The plant grows quite quickly, achieving heights of 4 meters in four months. The plant is easy to work with and can be readily transformed into an amazing array of products and used in a multitude of applications, including stock fodder, ropes and cordage, fiberboard, insulation, plastics, hempcrete, clothing and textiles and more.
The Company is currently in discussions with wholesale groups for off-take agreements for our anticipated hemp fiber grows.
Marco Alfonsi, Can B's Chief Executive Officer, commented, "As we see the light at the end of the tunnel from exiting this pandemic era and returning to some resemblance of normalcy, we continue to operate very cautiously with an eye on the future of our business. Our team took advantage of this timing and was able to acquire necessary equipment to expand our industrial hemp operations at an accretive value. We look forward to integrating the new equipment at our facility, as it is a key piece of the puzzle for us to seek additional revenue streams, within our hemp space."
About Can B Corp.
Can B Corp. (OTCQB:CANB) is a Health & Wellness company providing the highest quality cannabidiol (CBD) products under the brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. The Company has launched Super Foods, a line of nutritional supplements. Can B Corp. owns and operates an R&D and production facility in Lacey, WA and Green Grow Farms, a licensed hemp grow and cultivation in New York. To learn more about Can B Corp. and our comprehensive line of high quality CBD products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
For more information about Can B Corp., please visit CanBCorp.com.
Twitter @CanBCorp
Instagram @canbcorp
Facebook @ Can B Corp
YouTube
Forward-Looking Statements
Forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Investors and Media:
IR@canbiola.com
(917) 658-7878
SOURCE: Can B Corp.
View source version on accesswire.com:
https://www.accesswire.com/646583/Can-B-Corp-Enters-the-Industrial-Hemp-Business
FAQ
What equipment did Can B Corp. acquire for its hemp operations?
What is the significance of Can B Corp. entering the industrial hemp business?
What are the anticipated benefits of Can B Corp.'s hemp fiber grows?
What is the ticker symbol for Can B Corp.?
Where is Can B Corp. expanding its industrial hemp production?
