Hemp Inc (OTCMKTS:HEMP)’s subsidiary, The Industrial Hemp and Medical Marijuana Consulting Company, has reached an agreement, with Green Cures, to provide consultation services. The announcement was made by Green Cures, which stated that the agreement was signed on February 20. Furthermore, HEMP recently updated its shareholders about the legalization of medical marijuana and how it is going in favor of the company.
As per the consultation agreement, IHMMCC will provide assistance to Green Cures, in establishing a foundation, which would help the company in cultivating at a public level. The CEO of Hemp Inc, Bruce Perlowin, stressed on the importance of this contract, stating that the current year is going to be very important for Green Cures, especially since he expects an industry wide exponential growth by 2017.
The IHMMCC utilizes the contacts and industry information, insights and education, gained by Hemp Inc, during its life and markets them to new and upcoming companies, through a one-stop shop solution. It is expected that the GRCU would launch a dynamic and expansive product, during the current year. The company also has a unique product line of cannabinoid product line, which is operating at large production levels.
The past few weeks, saw state attorney’s of Oklahoma and Nebraska fail in a bid to push back marijuana laws. The two states had claimed that Colorado’s liberal stand on marijuana laws, was allowing marijuana to flow through their states, illegally. The industry experts had stated that if the lawsuit had been successful, it would have flushed all attempts to legalize marijuana, down the drain. Although Hemp Inc does not operate within the medical marijuana region, the company believes that its legalization would open new doors for the company, within the hemp industry. Furthermore, Texas is set to become the 5th state to legalize the use of medical and recreational marijuana.
Hemp Inc (OTCMKTS:HEMP) lost a total of 12.84% during the March 29 session, to reach a close at $0.055.