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Stevia Corp. Prepares for Fall Hemp Harvest
Subsidiary to Set up JV to Apply for Cultivation and Processing License
|By Marketwired .
|July 11, 2014 09:17 AM EDT
INDIANAPOLIS, IN -- (Marketwired) -- 07/11/14 -- Stevia Corp. (OTCQB: STEV) ("Stevia Corp" or the "Company"), an international farm management company focused on the commercial development of natural products that support a healthy lifestyle, including stevia and hemp and their extracts, is pleased to announce that it is preparing to fulfill commercial orders for hemp products following the upcoming Fall harvest.
Real Hemp LLC, Stevia Corp's wholly owned subsidiary, is confirming orders from US manufactures wanting to purchase hemp products and is preparing to fulfill these orders when the current hemp crop is harvested beginning in October 2014. Products range from hemp seeds and their by-products such as edible oil (richest source of essential fatty acids) and protein (contains all of the essential amino acids and is easy to digest) to fiber (used by more than 65 industries) and cannabidiol (CBD) extract (sought for medical applications and used as a dietary supplement).
George Blankenbaker, Stevia Corp President, comments, "It is interesting to note that China, which grows over 70% of the world's hemp, is supplying Canadian companies who are not able to meet the growing demand of their US customers. While hemp is not approved for commercial growing in the US, we will work with our partners in China to meet the growing demand and develop the technologies that will be needed for efficient post harvest processing in the US once production is approved."
Real Hemp is also in the process of setting up a joint venture company in China to apply for an industrial hemp cultivation and processing license. The license includes commercial extraction of CBD and will enable development of further science and technology in this area.
George Blankenbaker adds, "The laws in China, as in many countries, are very strict regarding the growing and transportation of hemp plant material and the extraction of cannabinoids from hemp. However, our local Chinese partner meets the requirements to apply for a cultivation and processing license and the JV company will be able to obtain the license for commercial production of all parts of the hemp plant including the extraction of CBD and other non-psychoactive cannabinoids."
Further details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934, as amended, filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.steviacorp.us.
About Stevia Corp. (OTCQB: STEV)
Stevia Corp. is a farm management company focused on developing highly nutritional, high value products through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques. Stevia Corp invests in R&D and IP acquisition and manages its own propagation, nursery and plantations as well as provides services to contract growers and other industry growers. Stevia Corp was founded on the principal of implementing socially responsible, sustainable, quality agribusiness solutions to maximize the long-term efficient production of nutritional crops. For additional information please visit: www.steviacorp.us.
About the Hemp Industry Sector
Hemp is a crop that can be grown for food and non-food purposes. As a result of its numerous nutritional benefits, many new food products containing hemp seed and its oil are finding their way into the marketplace, including pasta, tortilla chips, salad dressings, snack products and frozen desserts. Non-dairy hemp "milk" beverages, which provide significant amounts of omega 3 essential fatty acids (EFAs) and protein, are also available. Hemp oil is also used in nutraceuticals and health care products.
As a fiber source, hemp is undergoing rapid growth as a natural fiber in everything from clothing and textiles to automotive composites. The fiber is also gaining popularity as insulation.
The Hemp Industries Association (HIA) estimated that the 2013 retail sales value of hemp food and body care products in the United States was $184 million. When clothing, paper, auto parts, building materials and various other products are included, the HIA estimates that the total retail value of hemp products sold in the US in 2013 to be at least $581 million.
Food and fiber uses for industrial hemp are growing rapidly and have increased over 300 percent, to an estimated 25,000 products, in the past few years. Much of that growth is coming from the increased sales of hemp food products.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the commercial fulfillment of hemp product orders following the fall harvest, hemp products to be sold, technology and product development, application for industrial hemp cultivation and processing license, establishment of joint venture, hemp product sales in North America, growth of hemp products and business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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