CBD Global Sciences Commences Its 6th Year of Planting at Its Strasburg Pharms SubsidiaryPosted on June 1, 2020
Denver, Colorado, May 19, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — CBD Global Sciences Inc. (CSE: CBDN; OTC: CBDNF; Frankfurt: GS3), (“CBD Global” or the “Company”), is pleased to announce the start of the 2020 hemp planting season, at our wholly-owned Colorado subsidiary Strasburg Pharms, has begun. This is the Company’s 6th straight year of Hemp production at our 179-acre site. The Company has brought in additional farming expertise this season and, along with our first year of implementing expanded use of feminized seed, we will also be employing some additional techniques that we believe will greatly expand our yields while at the same time significantly reduce our costs per pound of produced biomass.
“The 2020 growing season has arrived at Strasburg Pharms, Colorado, and we look forward to building on the progress we made with the previous year’s harvests,” commented Brad Wyatt, President and CEO. “We look forward to working with our team to optimize all aspects of cultivation and to deliver on a larger mission of bringing wellness to people so they can live happier and healthier lives.”
In order to meet the growing demand for quality CBD products throughout the US, the Company will be planting in excess of 1.7 million feminized seeds which have been derived from our previous high yielding CBD strains. Hemp with higher potency CBD content reduces the amount of biomass required for CBD extracts allowing the maximum benefit in the production of cannabinoids, terpenes and other beneficial compounds. The biomass will be used to create our CBD products sold under our own brands, Aethics and CannaOil, and also for fulfilling orders for our select white label partners throughout the US and other parts of the world.
Our hemp is 100% Colorado grown with all-natural Colorado water, soil, sun and nutrients and NEVER sprayed with pesticides or chemicals. The hot summer days and cool Colorado nights creates the perfect environment for hemp cultivation. On top of that, at 5280 feet above sea level, the farm enables more potent UV rays presenting the perfect state for the plants’ natural photosynthesis reactions to facilitate maximum plant potency and growth.
In addition to the foregoing, CBD Global also announces the grant of an aggregate of 6,000,000 options to acquire common shares of the Company to officers, directors, employees and consultants of the Company, each such options being exercisable at a price of CDN$0.20 per common share for a three-year term expiring on May 19, 2023. These stock options all vest over a 2-year period with one-third vested immediately upon the date of grant and further one-third vesting on each of the first and second anniversaries of the date of grant.
ABOUT CBD GLOBAL SCIENCES INC.
CBD Global Sciences Inc., is a vertically integrated hemp-based CBD producer, extractor, and branding investment vehicle which currently owns two product categories, branded under the name AETHICS (www.aethics.com) and CANNAOIL (www.cannaoilshop.com), which include CBD Oil tinctures (liquid products), CBD capsules, CBD topicals and CBD hydration products. CBD Global’s hemp-derived CBD extracts are sold through select distributors, brick and mortar retailers, and online.
CBD Global Sciences, through its wholly owned subsidiary, Strasburg Pharms, grows and operates irrigated land in Colorado that grows hemp with only all-natural Colorado water, soil, sun and nutrients that is NEVER sprayed with pesticides or chemicals. Our genetics are hand selected and maintained to present the best cannabinoid profile with extremely high CBD. The extraction/processing facility, operated by CBD Global, is located approximately 40 minutes from the farm.
For further information, please contact Bruce Nurse, Investor Relations, (303) 919-2913, firstname.lastname@example.org.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to future developments and the business and operations of the Corporation after the CSE listing. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals. Readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
News Provided by GlobeNewswire via QuoteMedia