- Leviathan Cannabis Group (EPIC) subsidiary, Leviathan US, is finalising construction of its facility in Carthage, Tennessee
- Once operational, the 37,000 square foot facility will extract and process bulk CBD products from hemp biomass
- Leviathan US plans to launch its first branded product, a CBD vaporiser pen, before the end of 2020
- In other news, Leviathan Cannabis is changing its name to Leviathan Natural Products, but will continue trading under its current ticker code
- Leviathan Cannabis Group (EPIC) last traded on July 13 at C$0.25 per share
Leviathan Cannabis Group (EPIC) subsidiary, Leviathan US, is finalising construction of its facility in Carthage, Tennessee.
Local operational teams are currently fulfilling final requirements on the 9.75-acre property, which has been newly renovated. This includes completing the set-up and calibration of the facility’s commercial processing equipment.
Once operational, the 37,000 square foot facility will extract and process bulk CBD products from hemp biomass. In particular, the facility’s unique ethanol processing technique produces CBD derivatives with superior potency and purity.
Leviathan US plans to sell hemp-derived extracts for wholesale distribution across the United States. The extracts include crude oil, THC-free crude, distillate, THC-free distillate, and isolate.
The company plans to launch its first branded product from the Tennessee facility before the end of the year. The product will be a pure CBD all-in-one vaporiser pen, using broad spectrum, THC-free CBD distillate and terpenes.
Leviathan US also expects to finalise a contract for cultivating high-quality hemp biomass soon. The contract is with a local Tennessee farmer, who will produce a hemp crop on 100 acres of nearby land.
The first deliveries of hemp are expected in September of this year. Until then, the company will use well-priced hemp biomass from a local supplier.
Leviathan’s CEO, Martin J Doane, called the completion of the Carthage facility an exciting milestone for the company.
“The ability to produce and offer high-quality wholesale and branded products represents significant growth opportunities for Leviathan, and establishes a strong, stable platform for generating consistent, dependable revenue streams for the company and its loyal shareholders,” he said.
The facility’s original start date was pushed back due to delays related to the COVID-19 pandemic. The challenges posed by the virus also meant that vendors were slower to fulfil some orders. However, COVID-19 has not had any other major impacts on the company’s operations in Tennessee.
In other news, Leviathan Cannabis Group is changing its name to Leviathan Natural Products. The company received approval via a special resolution at its Annual and Special Meeting of Shareholders on June 23, 2020.
Leviathan will continue trading under the ticker code “EPIC”, in spite of the name change. The effective date of the change, when shares will trade under the new name, is likely to be around July 21, 2020.
Leviathan Cannabis Group (EPIC) last traded on July 13 at C$0.25 per share.