United Cannabis Corporation Industrial Hemp Facility Commences Extraction Operations
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Multi-Function Facility To Launch Additional Processing Services For Colorado Industrial Hemp Farmers
Denver, CO -- February 27, 2018 -- InvestorsHub NewsWire -- United Cannabis Corporation (OTCQB: CNAB) (the “Company” or “United Cannabis”) today announced that it has initiated extraction services at its Colorado industrial hemp processing plant (the “Facility”).
The Company established the Facility to provide contract manufacturing to farmers working under the 2014 Federal Farm Bill and Colorado’s Department of Agriculture's Industrial Hemp Program.
The multi-function Facility will provide customers with the ability to create simple extracts, capsules and sublingual drops, as well as process raw hemp seed through cold press extraction. Valuable fibrous bi-products generated through the processing will also be collected for sale to a wide range of consumer product industries. The Company will also offer purification, testing and processing services, as well as packaging, fulfillment, and secure storage capabilities.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, “We’re glad to have the processing facility up and running. Colorado farmers account for more than half of U.S. domestic hemp production, but most do not have the resources to process their crop beyond harvest. While demand for CBD and other cannabinoid-centric products continues to grow, the raw plant material remains a commodity product. Our facility provides farmers with a viable outlet to introduce their harvested material into the supply chain, with higher margins for them, which is good news for everyone in the industry.”
