Katelyn Baker
Well-Known Member
Cannabis advocates are collaborating to start two companies designed to advance the hemp and medical marijuana industries in Pennsylvania.
The companies will be based in Berks County but serve portions of the midstate.
One will capitalize on legislation permitting the growth of industrial hemp in Pennsylvania. Gov. Tom Wolf said he will sign the legislation into law, according to Wolf spokesperson Jeffrey Sheridan.
The second will focus on medical marijuana, which was legalized in Pennsylvania on April 17.
Advocates for both laws introduced the two companies today during an event at Double Tree Hotel in downtown to celebrate their legislative victories.
Hemp processing plant could cost $5 million to $10 million
The first business, AgriNextusa, is a holding company based in Berks County that will operate a farming and processing company called Pennsylvania Harvest.
It will grow and process industrial hemp, a product derived from the cannabis plant that can be made into paper, clothing, building materials and other products.
AgriNextusa was founded by several partners including Berks County farmer Geoff Whaling, former Philadelphia Flyer Riley Cote and Berks County-based Seize the Day Industries.
Whaling has a history of pushing for cannabis reform. He formed the Pennsylvania Hemp Industry Council and is a founding member of The Coalition for Access Now, a national cannabis advocacy group.
Cote, also a cannabis advocate, founded the Hemp Heals Foundation.
Information about Seize the Day was not immediately available.
Pennsylvania will operate a plant to process industrial hemp, Whaling, who will serve as CEO of AgriNextusa, said the plant could cost anywhere from $5 to $10 million.
A location has not yet been determined, but AgriNextusa has been working with a government-operated economic development group to identify existing facilities that might fit its needs, according to Whaling.
"We do have a number of options to consider, including building our own facility," Whaling said.
AgriNextusa also said today that it will have exclusive rights in Pennsylvania to sell Charlotte's Web Hemp Oil, a medicinal hemp extract.
Several Charlotte's Web products have a low amount of the psycho-active ingredient in cannabis, tetrahydrocannabinol or THC, so they are considered hemp, not marijuana.
Along with the rights to Charlotte's Web, AgriNextusa will be able to research and develop its own line of products containing hemp oil.
Pennsylvania Harvest also will educate farmers in Berks, Lancaster, Lebanon and Lehigh counties who are interested in growing hemp.
Hemp could be planted in Pennsylvania as early as spring 2017, Whaling said.
Percentage of profits will fund advocacy efforts
The partners in AgriNextusa also have invested in a separate company related to the medical marijuana industry.
Berks County-based Keystone Green MMJ could either grow, process or dispense medical marijuana, depending on what the partners decide. They are currently exploring their options, as the Pennsylvania Department of Health is still in the process of creating a medical marijuana program.
Both AgriNextusa and Keystone Green MMJ expect to contribute a share of their profits to a newly established nonprofit organization, 4 Advocates Foundation.
4 Advocates Foundation will fund continued efforts to advocate for expanding usage of both medical marijuana and hemp in Pennsylvania.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Pensylvania Advocates Launch Hemp, Medical Marijuana Businesses
Author: Lenay Ruhl
Contact: 717-236-4300
Photo Credit: Thinkstock
Website: Central Penn Business Journal
The companies will be based in Berks County but serve portions of the midstate.
One will capitalize on legislation permitting the growth of industrial hemp in Pennsylvania. Gov. Tom Wolf said he will sign the legislation into law, according to Wolf spokesperson Jeffrey Sheridan.
The second will focus on medical marijuana, which was legalized in Pennsylvania on April 17.
Advocates for both laws introduced the two companies today during an event at Double Tree Hotel in downtown to celebrate their legislative victories.
Hemp processing plant could cost $5 million to $10 million
The first business, AgriNextusa, is a holding company based in Berks County that will operate a farming and processing company called Pennsylvania Harvest.
It will grow and process industrial hemp, a product derived from the cannabis plant that can be made into paper, clothing, building materials and other products.
AgriNextusa was founded by several partners including Berks County farmer Geoff Whaling, former Philadelphia Flyer Riley Cote and Berks County-based Seize the Day Industries.
Whaling has a history of pushing for cannabis reform. He formed the Pennsylvania Hemp Industry Council and is a founding member of The Coalition for Access Now, a national cannabis advocacy group.
Cote, also a cannabis advocate, founded the Hemp Heals Foundation.
Information about Seize the Day was not immediately available.
Pennsylvania will operate a plant to process industrial hemp, Whaling, who will serve as CEO of AgriNextusa, said the plant could cost anywhere from $5 to $10 million.
A location has not yet been determined, but AgriNextusa has been working with a government-operated economic development group to identify existing facilities that might fit its needs, according to Whaling.
"We do have a number of options to consider, including building our own facility," Whaling said.
AgriNextusa also said today that it will have exclusive rights in Pennsylvania to sell Charlotte's Web Hemp Oil, a medicinal hemp extract.
Several Charlotte's Web products have a low amount of the psycho-active ingredient in cannabis, tetrahydrocannabinol or THC, so they are considered hemp, not marijuana.
Along with the rights to Charlotte's Web, AgriNextusa will be able to research and develop its own line of products containing hemp oil.
Pennsylvania Harvest also will educate farmers in Berks, Lancaster, Lebanon and Lehigh counties who are interested in growing hemp.
Hemp could be planted in Pennsylvania as early as spring 2017, Whaling said.
Percentage of profits will fund advocacy efforts
The partners in AgriNextusa also have invested in a separate company related to the medical marijuana industry.
Berks County-based Keystone Green MMJ could either grow, process or dispense medical marijuana, depending on what the partners decide. They are currently exploring their options, as the Pennsylvania Department of Health is still in the process of creating a medical marijuana program.
Both AgriNextusa and Keystone Green MMJ expect to contribute a share of their profits to a newly established nonprofit organization, 4 Advocates Foundation.
4 Advocates Foundation will fund continued efforts to advocate for expanding usage of both medical marijuana and hemp in Pennsylvania.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Pensylvania Advocates Launch Hemp, Medical Marijuana Businesses
Author: Lenay Ruhl
Contact: 717-236-4300
Photo Credit: Thinkstock
Website: Central Penn Business Journal
