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Be the first with the news that moves the market- Hemp for Health (HFH) has provided an update on the company’s 2019 operations, and expectations for 2020.
- The 2019 test crop harvest was very successful, generating approximately C$1,000,000 in gross revenue.
- Hemp for Health plans to plant 150 hectares from 4 different strains of seed for the 2020 growing season.
- The company expects that the 2020 harvest will yield over 100,000 kilos of biomass and 12,000 kilos of dried flower.
- Hemp for Health’s share price is up 12.2 per cent, with shares trading at $0.23 apiece.
Cannabis cultivator and distributor Hemp for Health (HFH) has updated shareholders and potential investors on the company’s 2019 operations.
Hemp for Health has also provided a description of the company’s plans and expectations for 2020.
In 2019, Hemp for Health focused on the outcome of a test crop, which included the CBD Carmagnola strain in the Tuscan Valley, Italy.
Just 3 hectares of the planted Carmagnola strain yielded approximately 3,000 kilos of biomass and 340 kilos of hemp flower. The harvest is expected to generate a little over C$1,000,000 in gross revenue.
The plan for the 2020 growing season is to plant 150 hectares from 4 different strains of seed, which have already been ordered. Extrapolating on the 2019 test crop results, Hemp for Health predicts a 2020 harvest yield of over 100,000 kilos of biomass and 12,000 kilos of dried flower.
CEO and Founder of Hemp for Health, Robert Eadie, commented on the company’s past results and future hopes. “We are pleased with delivering on our promises to our shareholders as demonstrated by the results and cultivation of this year’s test crop of Carmagnola hemp.”
“2020 will be a transformative year. The company has world class farmers and soil, a stake in a European distribution channel, and results that ultimately will speak to our end goal of delivering wellness benefits to our consumers.”
Hemp for Health’s share price is up 12.2 per cent, with shares trading at $0.23 apiece at 1:48pm EST.
