Hemp Inc (OTCMKTS:HEMP), a prominent name in the industrial hemp segment provided updates on the latest developments in the industrial hemp industry. Bruce Perlowin, the CEO said that the American farmers are just in the wait and watch mode at a time when Hemp cultivation has become a profitable crop for farmers in Asia, Canada and Europe. It is high time when more and more States should consider implementing hemp legislation. The history states that several varieties of Cannabis have been grown for non-drug uses including building materials, food, soap, textiles, paper and lately high-tech bio-composites utilized in automobile segment.
Bill in New Mexico
Hemp Inc stated that bill to permit Industrial Hemp Cultivation was approved in New Mexico last week. The lawmakers have given final approval to allow the cultivation of hemp, passing the measure to Governor. The act would help several departments to grow hemp for research and development purposes.
Hemp Inc (OTCMKTS:HEMP) further stated that Medical hemp legislation can prove to be a game-changer for Epileptic Hoosiers. They are expecting to see bill HB1181 pass in the state. It is a bill that wants to define industrial hemp. It comes from cannabis plant and is also the source of marijuana. The hemp is used for many purposes such as in textiles and foods and paper. The extracted marijuana is used to mitigate pain in several debilitating conditions. HB1181 bill wants to authorize the promotion of industrial hemp in Indiana. Also, it urges to exclude industrial hemp from the definition of marijuana.
Hemp, Inc.’s subsidiary was given the approval by Nash County to move forward with the reassembly of Temafa decortication line based in North Carolina. The county asked for the farm ID number and the engineer drawings from the company so that it can proceed with agricultural exemption process.