LOS ANGELES, April 9, 2014 /PRNewswire/ — Verde Media Group Inc., (VMGI) is pleased to announce that it has entered into negotiations with an overseas company to produce medical hemp products from industrial hemp (Cannabis sativa) in Asia.
Currently, more than 30 nations grow industrial hemp as an agricultural commodity, which is sold on the world market. In the United States, however, production is strictly controlled under existing drug enforcement laws. There is no known commercial domestic production and the U.S. market depends solely on imports.
Hemp is native to central Asia and produces large crop output per hectare farmed with significant economic benefits to the producers. The party that Verde is in negotiations with operates over 5,000 hectares of land for contract operations that can be further extended to 15,000 hectares as required as operations expand.
The industrial hemp strains in consideration produce large amounts of commercially valuable cannabidiol CBD with negligible amounts of hallucinogenic delta-9 tetrahydrocannabinol (THC). Industrial hemp with oils rich in CBD can be legally imported into the United States.
The Verde Media Biotech Division (VMBD) has plans to develop platform technologies for extracting highly purified forms of cannabis-based phytocannabinoids products, particularly cannabidiol (CBD). Verde plans to further refine and purify the imported oils to food and supplement grade quality. Currently, the market for CBD in health and wellness industry surpasses US$5 billion and represents exciting opportunity to extend the supply chains of these important products.
William Veve, President of Verde Media Group, Inc. stated, “The oversea contract farming plan is in line with our production strategy for CBD using conventional and technologically advanced microbial processes. We believe that the availability of CBD will provide us the leverage to enter the market with significant price margins to benefit our shareholders.”
About Verde Media Group Inc.
Verde Media Group Inc. is a publicly traded company listed on the OTC Markets trading under the stock symbol: VMGI. Verde Media Group Inc. The Company consists of three divisions:
Agency Division– The innovative Agency division services- public relations, marketing, sales and transaction functions for corporate clientele. The agency is rapidly expanding its business in the Denver, Colorado market that will become the largest legal retail marijuana sector.
BioTech Division– The VMBD division undertakes the business of developing and producing high value bio-products from renewable biomass. The focus and criterion is to develop proprietary microbial technologies with low risk scale-up methods employing low cost feedstock. VMBD will further develop the derivative and ester forms of THC for increase in potency and their use in different delivery systems, including sublingual, inhaled dosage forms and blending with food products.
Entertainment Division– The Company operates a managed media company with production, distribution, development, and acquisition functions for film and television.
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