$CNNA - More background for you to read through! CBD/Hemp are a huge industry!
Through our subsidiary, Cann American Holdings, LLC, which has recently merged into the company on August 21, 2019, we have been engaged in the development of a legal cannabis infrastructure development project consisting of 3 green houses in various stages of development in Mendocino County, California. The Company additionally consults clients locally and nationwide on crop yields, best agricultural practices and navigating entry into the cannabis and hemp industries.
We intend to develop a legal hemp processing facility. Hemp farming in the US is rapidly increasing since federal legalization and access to federal crop insurance, leaving an extensive demand for processing facilities for trimming and drying at scale. The current market for processing bulk hemp biomass can range from $5 to $10 per lb. Depending on the proceeds raised will determine the scale of the processing facility in Northern California which will seek a strategic location to access the Nevada and Oregon markets as well.
When a hemp crop is harvested the hemp biomass must be dried, cured and trimmed. Separating the flower material from the stalks and leaves, before it’s sold to prospective buyers serving the vast demands for raw hemp. We believe the current North American market lacks enough processing facilities for drying and trimming at commercial scale to accommodate the increasing amount of hemp farming operations. Many farmers have developed make-shift drying facilities on sight to prepare their harvested crops for sale. The deficiency in dedicated processing facilities in the hemp supply chain can result in thousands of acres of crop loss nationwide. The Company intends that such a facility serving the Northern California market, with the ability to also draw clients from Nevada and Oregon, will fill a significant void in the hemp marketplace.
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