iBrands Corp. (IBRC)

[MoreThanWealth]

IBRC, NEWS-iBrands Corporation Enters Into Industrial Hemp Farming Sector
Dallas, TX- iBrands Corporation, Inc. (OTC: IBRC) (“the Company”), a diversified holdings company, announces that it has executed a supply agreement with VI Holdings Inc., to sell Industrial Hemp CBD Isolate in quantities of 5,000 kilograms per month for $4,500 per kilogram.
CBD isolate is cannabidiol in its purest form. To produce this extract, CBD is isolated and then refined to strip out any additional cannabinoids, terpenes, and plant components found in the hemp plant. The final product is a fine white powder that contains around 99% Cannabidiol Isolate contain only one cannabinoid: CBD. Isolate does not contain any THC, a psychoactive cannabinoid, making CBD isolate a perfect option for those who seek a THC-free product.
We believe in the medicinal qualities of CBD and are excited to be able to supply VI Holdings in its mission to bring high-quality CBD to a global market,“ said iBrands CEO Patrick Johnson”
Industrial hemp operating on a commercial scale is expected to bring economic benefit throughout the rural U.S. The hemp plant, once a major crop, produces strong fabric and has over 25,000 uses. Congress included a pathway to hemp growing in the 2014 Farm Bill, allowing states to run pilot programs to research its viability for commercial production, while the Hemp Farming Act in the 2018 Farm Bill is expected to federally legalize hemp before the end of this year.
Recently, an agreement in principle was reached by the House and Senate farm bill negotiators, would include provisions to federally legalize hemp. When passed, the bill will allow states to regulate hemp, as well as allow hemp researchers to apply for grants from the Department of Agriculture and make hemp farmers eligible for crop insurance.
Senate Majority Leader Mitch McConnell (R-Ky.) initially introduced the Hemp Farming Act of 2018 in the Senate’s version of the farm bill including provisions to legalize hemp and remove it from the federal list of controlled substances. The move to legalize hemp could also have a significant effect on the sale of cannabidiol, or CBD, a non-psychoactive compound in cannabis that has become popular in recent years as a treatment for conditions ranging from seizures to anxiety and pain. CBD is typically derived from hemp, though many of the products sold today come from sources that are technically illegal, at least in the eyes of the federal government.
The proposed compromise bill also would make agricultural production of hemp legal in the United States by removing its designation as a drug akin to marijuana under the Controlled Substances Act. Senate Majority Leader Mitch McConnell, who sponsored the language in the Senate bill, has said legalizing hemp could give farmers a new cash crop. McConnell included language allowing hemp production for research in the 2014 farm bill, and the farm bill conference report would lift federal drug restrictions that have hampered expansion of the crop. The 2018 legislation also would make hemp farmers eligible for federally subsidized crop insurance.
The farm bill could fully blow open the doors of the CBD market by giving additional legal cover and legitimacy to an industry that advocates say will do more than half a billion dollars in sales this year, and according to cannabis industry analysts, The Brightfield Group, it is estimated the hemp CBD market alone could hit $22-billion by 2022.
About iBrands Corporation
iBrands Corporation, Inc. is a holding company that acquires and operates niche market brands having unique market positions within sectors that demonstrate return on investment potential. Business partnerships throughout the United States and Canada provide our brands many markets to expand into and produce consistently high growth rates for the next decade.

The company can be found at: www.iBrandscorporation.com

Safe Harbor Statement This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:
iBrands Corporation Inc. Patrick J. Johnson Chief Executive Officer [phone] [e-mail]

Sources:
https://www.huffingtonpost.com/entry/hemp-legalization-congress-farmbill_us_5c016e7fe4b0249dce74973e
https://globenewswire.com/news-release/2018/12/03/1661009/0/en/U-S-Farm-Bill-Legalizing-HempExpected-to-be-Finalized-This-Week-or-by-the-End-of-the-Year-Hemp-Inc-Announces.html
https://www.votehemp.com/federal-hemp-legislation/
https://www.cbdschool.com/how-to-use-cbd-isolate/
https://madebyhemp.com/whole-plant-hemp-cbd-isolate-difference/
https://www.forbes.com/sites/bethkaiserman/2018/12/05/cbd-companies-prepare-for-hemp-legalization-infarm-bill/#1b06eb775627
https://www.rollcall.com/news/politics/final-farm-bill-make-hemp-legal-details-revealed