Many have heralded the U.S. federal legalization of hemp as a big next step for the cannabis industry. With the new 2018 Farm Act having passed through the House and the Senate, hemp is now considered a fully legal agricultural commodity that farmers can now cultivate in industrial quantities.
As such, enough hemp can be produced to extract CBD that are remarkably similar to their marijuana-extracted counterparts, without the legal hassles. Many companies are jumping on this opportunity, with Liberty Health Sciences (CSE: LHS) recently announcing that they will be launching a new hemp-derived CBD product line.
The company that do accomplish this they were launching a new “Zentient Labs” brand to help produce an ultra-high quality CBD formula to be used in a new premium line of products, including nutraceuticals and vitamin supplements.
“Liberty Health Sciences is quickly becoming a leading cultivator and distributor of premium cannabis products through low-cost production techniques and high-end dispensary design and intends to apply the same techniques to the cultivation and distribution of hemp-derived products. We currently operate two facilities in Florida with a total cultivation capacity of over 41,000 square feet,” commented Liberty CEO George Scorsis. “The Company has increased its cultivation capacity to more than 120,000 square feet and will grow to approximately 225,000 square feet by early 2019. Our processing facility utilizes state-of-the-art equipment and techniques for extraction and purification and our experience with medical marijuana is directly applicable to industrial hemp.”
Many experts anticipate that the CBD market will see a dramatic growth phase, predicted to skyrocket to over $2.1 billion in consumer sales by 2020, with $450 million or 21 percent of that coming from hemp-based products. Besides the obvious fact that hemp is now legal and cannabis isn’t entirely in the U.S., another reason for this rapid surge in demand comes from the versatility the plant offers – able to be used in a variety of products from food, cosmetics, beverages, and health supplements.
Zentient Labs new formula will be used in products across a number of different categories, including wellness, beauty, athletics, and even premium pet products. “”Zentient Labs’ line of wellness products was designed to support your desired activity, so you can be in the ‘Zentient Zen state’, as we call it,” added Stephanie Kubacki, Vice President of Marketing, Liberty Health Sciences.
Overall, Liberty Health Sciences shares did not change much today, declining around half a percentage point. However, the Dow Jones industrial average tumbled 464 points today, so in comparison Liberty slightly outperformed the index.
Liberty was targeted a couple of weeks ago by short sellers Hindenberg Research for it’s supposed connections with controversial figures within Aphria Inc, a company the short sellers called “worthless.” Despite this, Liberty seems to be faring better than would be expected from these accusations.
Liberty Health Sciences Inc Company Profile
Liberty is the cannabis provider committed to providing a trusted, high-quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale and beyond. Liberty’s measured approach to expansion opportunities maximizes returns to shareholders, while keeping consumers’ well-being at the forefront of what we do. – Liberty Health Sciences