News and Announcements
Growth opportunities open for Elixinol following the signing of the 2018 US Farm Bill
- Published January 07, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- The president of the United States has signed the 2018 Farm Bill, which includes the Hemp Farming Act of 2018.
- Hemp has been removed from the Controlled Substances Act, allowing it to be regulated as an agricultural crop.
- Following the passing of the Farm Bill, hemp farmers can now gain access to banking and insurance and will be able to openly advertise and market initiatives.
Elixinol Global Limited (ASX: EXL) are delighted to announce that the US President has signed the 2018 Farm Bill, which includes the Hemp Farming Act of 2018.
Hemp has now officially been removed from the Controlled Substances Act and will be regulated as an agricultural crop.
Elixinol Global is a company operating in the hemp, dietary supplements and emerging medicinal cannabis sectors.
The signing of the Farm Bill is a major victory for hemp CBD companies whose products are non-psychoactive, like Elixinol’s.
It removes federal regulations preventing companies from growing, marketing and selling hemp and provides easier access to federally regulated services such as banking and insurance.
Elixinol Global’s CEO, Paul Benhaim said: “The legislation change will create significant growth opportunities for Elixinol as it removes existing barriers to trade by more widely opening up the ability for us to access crop insurance, banking and insurance services without restriction.
It also means we will be able to more openly advertise and market our products directly to consumers in the US and we further expect this development will be looked at closely by governments of other countries, including Australia.”
Elixinol will now appoint recognised advertising, public relations and marketing agencies to help build
national brand awareness.
About Elixinol Global Limited (ASX: EXL)
Elixinol Global Limited (ASX: EXL; OTCQX: ELLXF) through its businesses has a global presence in the cannabis industry including hemp-derived CBD dietary supplements, hemp food and wellness products, as well as cultivation and manufacture of medicinal cannabis products.
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