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Be the first with the news that moves the market- Hemp grower, Sweet Earth (SE) has signed a long-term lease agreement in Los Barrios, Spain, continuing its European expansion
- The agreement allows the company to secure approximately 22 acres, with an option for future lease extension and land expansion
- Sweet Earth has recently purchased 450 kilograms of high-grade hemp seeds, authorised for cultivation in the European Union
- The lease agreement and industrial hemp strain will allow the company to produce locally whilst meeting EU hemp standards
- Sweet Earth (SE) is up 2.33 per cent and is currently trading at C$0.22 per share
Hemp grower, Sweet Earth (SE) has signed a long-term lease agreement in Los Barrios, Spain, continuing its European expansion.
The lease agreement allows the company to secure approximately 22 acres of land, in a region known for its temperate climate and agricultural industry. The agreement, which extends for a minimum five years, includes an option for future lease extension and land expansion.
Sweet Earth strategically chose the area because of its proximity to the company’s European headquarters. The headquarters are located in the same Spanish province of Cádiz.
The company has recently purchased 450 kilograms of high-grade Earlina 8FC seeds. Earlina 8FC is an industrial hemp strain which is authorised for cultivation in the European Union.
The strain, originally developed in France, produces highly nutritious hemp seeds, which are rich in essential oils. Notably, the strain has a CBD yield of two to three per cent, with a guaranteed THC content of under 0.2 per cent.
Such a low THC content is a necessity in Europe, which has stricter policies than North America. North American hemp production allows for plants with up to 0.3 per cent THC content, while the European Industrial Hemp Association requires less.
The EU also strongly recommends against importing CBD products from outside of the Union. As such, Sweet Earth’s expansion into Los Barrios will allow the company to produce hemp locally, in keeping with regional restrictions around the product.
Sweet Earth (SE) is up 2.33 per cent and is trading at C$0.22 per share at 2:19pm EDT.
