Colorado-based Elixinol Announces New Operations Partnership with Historic Colorado Farmer
Partnership Will Expand and Fortify Elixinol’s Industrial Hemp Supply Chain
DENVER, April 25, 2018 (GLOBE NEWSWIRE) -- Elixinol LLC, a subsidiary of Elixinol Global (ASX:EXL) announces an agricultural operations extension for Elixinol LLC in the state of Colorado. Named Northern Colorado High Plains Producers (NCHPP), the joint venture with Kersey Ag strengthens Elixinol’s hemp and CBD supply chain.
|
|||||
Kersey Agricultural Company, who has held ranching operations in Colorado since 1901 uses the newest in efficient drip-irrigation techniques and technologies with no added foreign chemicals.
Elixinol will inject $1.8 million into NCHPP with Kersey Ag contributing $.7 million plus long-term lease of land and water rights. Elixinol and Kersey Ag will each hold a strategic 50% interest in the joint venture.
NCHPP will utilize up to 700 acres of farmland traditionally used to grow alfalfa, silage corn, and other forage crops with additional land available as required. The farmland, secured by an initial 5-year lease term extendable up to 30 years, in the pristine Northern Colorado High Plains, includes water rights.
NCHPP will strengthen Elixinol LLC’s Colorado-domestic, organic industrial hemp sourcing while bolstering access to premium organic hemp while ensuring maximum yields, decreasing production costs and securing against drought.
“This partnership signifies Elixinol’s commitment to support US hemp while leading the global hemp industry with a modern supply chain, which enables us to consistently and predictably provide premium CBD products that meet not only our standards, but our customer’s standards also,” said Gabriel Ettenson co-founder and general manager of Elixinol LLC
With expanded hemp access and operations solidified for at least three decades, Elixinol LLC will be able to continue its market demand expansion of full-spectrum CO2 extracted CBD with bulk CBD hemp oil sales and expanded retail product availability.
About Elixinol:
Colorado-based Elixinol, co-founded by Paul Benhaim, hemp entrepreneur since 1991, is widely regarded as one of the most influential CBD brands in the world. With a proven track record of growing and manufacturing high-quality hemp, Elixinol also conducts rigorous laboratory testing and quality control. A global leader in hemp distribution, Elixinol distributes CBD products in 40 countries globally including North and South America, throughout Europe, Asia and the Pacific Region. Elixinol’s parent company Elixinol Global (elixinolglobal.com) is publicly traded under on the Australian Stock Exchange as EXL. More information available at Elixinol.com.
About Elixinol Global
Elixinol Global is publically traded on the ASX under EXL. The holding company has a global presence in the cannabis industry including hemp, CBD dietary supplements, food and wellness products, and the cultivation and manufacture of medicinal cannabis products. Elixinol Global’s brands include: Elixinol LLC, founded in 2014, manufacturer and distributor of industrial hemp based dietary supplement and skincare products, with operations based out of Colorado, USA. Hemp Foods Australia Pty Ltd, founded in 1999, manufacturer and distributor of industrial hemp food products in Australia. Elixinol Pty Ltd, founded in 2014, to take part in the emerging Australian medicinal cannabis market.
Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business, products and future the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company’s products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The ASX has not reviewed, approved or disapproved the content of this press release.
Media Contact:
Chris Husong
Elixinol
+1 844-804-3504 ext 420
chris@elixinol.com
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
