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| VMGI Another Double Digit Gainer for our Traders this Week |
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 Hot Stock to Watch |
Company: Verde Media Group, Inc. (Pink Sheets: VMGI)
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Last:
Price: 0.0095
Change (%): + 0.0016 (20.25)
Volume: 2,365,307 |
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Verde Media Group Inc. Announces Production Plan For Medicinal Hemp Via Oversea Contract Farming Venture
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.
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