Hemp firm signs consulting deal


Staff Writer

Monday, March 19, 2018

A Spring Hope hemp company recently signed a consulting agreement with a scientific research development company.

The purpose of the agreement between Hemp Inc. and HQ Global Education will allow Hemp Inc. to provide consulting services to HQ Global Education to help it expand into the hemp-CBD industry. According to Hemp Inc. officials, the scientific research development company will receive ongoing, consulting services in the hemp-CBD market in the areas of growing high-quality organically-grown CBD-rich hemp and harvesting, extracting and creating a variety of high-end CBD products for its business and partnerships in the industry.

Hemp Inc. officials said CBD is one of more cannabinoids identified in marijuana and hemp. However, unlike tetrahydrocannabinol (THC), CBD isn’t psychoactive, meaning it won’t cause a high. Nonetheless, thousands of studies have demonstrated that CBD possesses an array of therapeutic benefits, including antioxidant and neuroprotective properties, company officials added.

CBD that’s derived from hemp is legal to import and purchase in all 50 states without a prescription, said Bruce Perlowin, CEO of Hemp Inc.

Perlowin said the agreement with HQ Global Education is a natural fit for both companies. He added HQ Global Education is in the final stages of building a library of all published scientific research done on CBDs and other cannabinoids from all over the world in the past 50 years.

“The timing couldn’t be better,” he said. “The hemp industry is projected to grow 700 percent and hit $1.8 billion by 2020. This type of thorough research by HQ Global Education allows them to custom design CBDs with different cannabinoid and terpene profiles based on the enormous amount of scientific research they’ve been compiling. We are positioning them to become a leading CBD producer.”

Luis Proetta, CEO of HQ Global Education, said working with Hemp Inc. will allow his company to impact the marketplace even sooner than originally anticipated.

“With the completion of this agreement, we are confident that we have created a winning combination that will enable us to help lead the industry to realize the many medical and economic benefits of cannabinoids,” Proetta said.

Perlowin said the plan from the consultant agreement is an eventual joint venture with HQ Global Education in which Hemp Inc. will house and operate an HQ Global Education CBD extractor in its 85,000-square-facility on N.C. 581 in Spring Hope.

Ongoing through July, Hemp Inc.is holding tours on Fridays that will allow stakeholders behind the scenes to view the company’s processing equipment in operation producing product from the cultivation of its hemp plants and kenaf to the processing and manufacturing of CBD products.