$MJOG recent PR
Majestic Holdings Enters Into Discussions For Joint Partnership Agreement To Grow Hemp And Process CBD
Press Release | 10/15/2018
PALATKA, FL, Oct. 15, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Majestic Holdings, Inc. (OTC: MJOG) (“Majestic" or the “Company"), is pleased to announce that it has begun discussions regarding a joint venture with a prominent hemp grower based in Rhode Island. As part of the agreement, Majestic will manage the grower and processor’s outdoor industrial hemp plants, as well as extraction, bottling, and packaging facilities. The company believes participating in an exclusive licensing and supply agreement in this region will greatly enhance overall operational capabilities and increase shareholder value.
The global industrial hemp market size is expected to reach $10.6 billion by 2025, according to a recent report by Grand View Research, Inc. The U.S. CBD market is primed for expansive growth for both hemp-derived CBD and marijuana-derived CBD. With recent developments and advancements in the hemp industry, farmers across the country are turning their attention to commercialization while seeking the road to profitability.
The company recently announced that it intends to change its name from “Majestic Oil & Gas, Inc.” to “Majestic Group Holdings, Inc.” to better reflect the company’s refocused business model, aggressive acquisition of major controlling interests within the healthcare and cannabis sectors.
Company president, Calvin Lewis, commented: “This partnership is a unique opportunity for Majestic and its shareholders. The execution of this agreement would give us a jumpstart toward fulfilling many more of our business goals within the CBD and industrial hemp sectors. We will release further updates regarding this agreement as it develops in the coming days.”
