Can B Corp (CANB)

[Louied91]

$CANB Can B Corp. Enters the Industrial Hemp Business

https://www.accesswire.com/646583/can-b-corp-enters-the-industrial-hemp-business

HICKSVILLE, NY / ACCESSWIRE / May 12, 2021 / Can B Corp. (OTCQB:CANB) ("Can B" or the "Company"), a diversified health and wellness company, is pleased to announce its recent purchases of additional equipment in order to increase production at its industrial hemp facility in Colorado.

In addition to the hemp growing and cultivations already underway in CO and NY under our Botanical Biotech division, the Company is entering the industrial hemp business. Fresh from a farm equipment auction in CO, the Company acquired the basic equipment to grow and harvest industrial hemp. The equipment includes specially modified for hemp combines, grapplers, forage wagons, a semi-tractor/ trailer and a plethora of additional equipment for a full-on grow and harvest, all purchases for dimes on the dollar.

For the uninitiated, Industrial hemp is an incredibly useful plant, one said to have literally tens of thousands of applications. Industrial hemp farmers tend to aim to grow the plants up, not out as is the case with medicinal cannabis - and the taller, the better when grown for fiber. This is because some of the great value of industrial hemp in fiber-based applications is primarily in its stalk. Industrial hemp is also grown at quite high density.

Industrial hemp can grow to 5 meters high, with very long fibers. The stem is comprised of the outer "bark" or bast, sought after for textiles; and the inner material called hurd, which is used for other applications. Another very valuable component of industrial hemp is the seed, which is technically a nut. Industrial hemp is a very hardy plant, able to be hard grown in areas where other crops will fail. It can withstand periods of drought, heat and frost and also be cultivated without pesticides or other chemicals. The plant grows quite quickly, achieving heights of 4 meters in four months. The plant is easy to work with and can be readily transformed into an amazing array of products and used in a multitude of applications, including stock fodder, ropes and cordage, fiberboard, insulation, plastics, hempcrete, clothing and textiles and more.

The Company is currently in discussions with wholesale groups for off-take agreements for our anticipated hemp fiber grows.

Marco Alfonsi, Can B's Chief Executive Officer, commented, "As we see the light at the end of the tunnel from exiting this pandemic era and returning to some resemblance of normalcy, we continue to operate very cautiously with an eye on the future of our business. Our team took advantage of this timing and was able to acquire necessary equipment to expand our industrial hemp operations at an accretive value. We look forward to integrating the new equipment at our facility, as it is a key piece of the puzzle for us to seek additional revenue streams, within our hemp space."