Hemp, Inc. Reports More Opportunity for Hemp Growers as Idaho Hemp Bill Receives Green Light

Rhea-AI Summary

Hemp, Inc. (OTC PINK: HEMP) announced progress for industrial hemp in Idaho as House Bill 126 moves to the Senate. This bill aims to legalize production, processing, and transportation of industrial hemp, having passed the House with a vote of 44-26. The Senate Agricultural Affairs Committee recommended the bill after a brief public hearing with no opposition. Hemp, Inc. suggests this legislation will improve opportunities for hemp farmers and facilitate industry navigation. The company is actively expanding its marketing efforts and product offerings in response to the growing market.

Positive

• House Bill 126 has passed the Idaho House and is moving to the Senate, indicating legislative support for industrial hemp.
• No opposition was voiced during the bill's public hearing, suggesting strong stakeholder support.
• Hemp, Inc. plans to launch new products and has been expanding its marketing initiatives.

Negative

• None.

Las Vegas, NV, March 22, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Hemp, Inc. (OTC PINK: HEMP) a global leader in the industrial hemp industry with bi-coastal processing centers, is proud to report hemp legislation continues momentum in the state of Idaho as House Bill 126 makes it out of the committee to the Senate floor.  The bill would legalize the production, processing and transportation of industrial hemp.

According to one news source, “the Senate Agricultural Affairs Committee gave a favorable recommendation to House Bill 126, following a short public hearing. No one testified in opposition to the bill, which would allow Idaho farmers to produce the crop, while still respecting law enforcement concerns about marijuana.” The bill previously passed the House 44-26.

Hemp, Inc. executives say more and more states are giving industrial hemp the green light which provides great opportunities for hemp growers in the state. They’ll be able to weigh the risks and rewards of a crop that needs to be regulated.

The bill states:

“relating to industrial hemp; amending title 22, Idaho code, by the addition of a new chapter 17, title 22, Idaho code, to provide for the industrial hemp research and development act, to provide a short title, to provide legislative intent, to define terms, to provide for a state plan, to authorize the production, processing, transportation and research of industrial hemp, to provide for the industrial hemp administration fund, and to provide exceptions; amending section 37-2701, Idaho code, to revise a definition; amending section 37-2705, Idaho code, to provide an exception; amending chapter 29, title 67, Idaho code, by the addition of a new section 67-2921, Idaho code, to provide for the transportation of industrial hemp; providing severability; and declaring an emergency.”

To read the full bill, click here.

With less roadblocks and red tape, Hemp, Inc. executives say this will likely present more opportunities for hemp farmers and growers to successfully navigate the industry. Hemp, Inc. continues to grow as the industry grows. The company has over a decade of experience in growing, harvesting, processing and selling industrial hemp, as well as having a strong foothold on the educational front with its Hemp University.

Hemp, Inc.’s main focus is now on marketing and is currently negotiating with a network marketing company to launch several new products for different niche markets.  Digital marketing campaigns are in the works including planning for display booths at all the concerts and events at the Veteran Village Kins Communities.  The Company is also selling directly to retail stores as well as distributing through all the King of Hemp Stores opening around America this year.  Online distributors such as NaturalExposureCBD.com is also carrying the products.

The company recently added its second brand (Billy Hayes) in the King of Hemp® product line which already consists of Bubba Kush hemp; CBD Pre-rolls, Fortified CBD Pre-rolls, CBD and CBG Caviar/Moon Rocks; and Diamonds (which are 96%-98.7% CBD, the only product like this in the marketplace today). According to executives, there is a limited number of signed collector’s box that is also available. Those interested in being the first to collect this “pirate treasure” should click here. The third in the series will be the Notorious Smith Brothers (famous smugglers from South Florida) to be released at a later date.

The Company’s website for its King of Hemp® line (www.kingofhempusa.com) also has CBD oil tinctures available for purchase. The tinctures are available in two flavors, Natural and Peppermint, and contain full-spectrum hemp oil extracted from the flowers and leaves of hemp plants sustainably sourced from Colorado. They are also compliant with the regulations created by the Colorado Department of Agriculture in regards to industrial hemp. The tinctures, as well as all CBD products, contain 0.3% or less THC and are compliant with the 2018 Farm Bill.

To learn more, go to the King of Hemp® website, here.

Those interested in King of Hemp® pre-rolls; hemp-derived CBD tinctures; Caviar; Diamonds; can visit www.kingofhempusa.com and email sales@kingofhempusa.com.

WHAT IS HEMP, INC.?

What is 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 hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp, Inc. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

FORWARD-LOOKING DISCLAIMER AND DISCLOSURES

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information” and Hemp, Inc. does… using the SEC’s Alternative Reporting Standard to publicly report its quarterly and yearly financials.  All current information can be found on www.hempinc.com/hemp-financial-disclosures/. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.

Contact:

Hemp, Inc.    

855-436-7688

ir@hempinc.com

FAQ

What is House Bill 126 about for Hemp, Inc. (HEMP)?

House Bill 126 aims to legalize the production, processing, and transportation of industrial hemp in Idaho.

How did House Bill 126 fare in the Idaho legislature?

The bill passed the Idaho House with a vote of 44-26 and has received a favorable recommendation from the Senate Agricultural Affairs Committee.

What are the implications of House Bill 126 for hemp farmers in Idaho?

The bill is expected to provide greater opportunities for hemp farmers by reducing regulatory obstacles.

What is Hemp, Inc.'s focus moving forward?

Hemp, Inc. is focused on expanding marketing efforts and launching new products in the hemp market.