GenCanna is deploying the proceeds of the investment to expand its production capacity, and become a global leader in hemp CBD production, with legal sales throughout the U.S. and internationally.
GenCanna’s hemp-derived products are exempted from the Controlled Substances Act.
With the anticipated passage of the Hemp Farming Act of 2018, hemp companies will enjoy the same business environment as any other agricultural company, inclusive of federal banking and financial services, as well as transportation of products across state lines.
Said Steve Bevan, GenCanna President, “We eagerly anticipate the passage of the 2018 Farm Bill, already passed by the U.S. Senate, in the near future. Our efforts to work with government leaders to…enable more farmers to grow hemp, are coming to fruition.”
Learn more about Marimed and other exciting cannabis companies in our company reports.