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PotNetwork Holdings Inc. Prepares for Surge in Interstate Commerce Following 2018 US Hemp Farm Bill
Industry-leading Subsidiary Diamond CBD Inc., Poised to Capture Evolving Consumer Market, Prepares for Revolutionary Industry Changes
FORT LAUDERDALE, Fla., Dec. 17, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PotNetwork Holdings, Inc. (OTC Pink: POTN) and its wholly-owned subsidiary, Diamond CBD Inc., have begun planning how the Company will effectively bolster its corporate footprint in a market anticipated to see great changes based on recent legislative events.
The $867 Billion Farm Bill includes a provision involving industrial hemp and its derivative, cannabidiol (CBD), effectively removing CBD from the Controlled Substances Act Scheduling and putting it under the supervision of the Department of Agriculture.
Applauding the recent actions of both houses of Congress to effectively pass a farm bill with hemp provisions, analysts are optimistic, indicating that the landscape has never been more ready for Presidential follow through. The U.S. Senate voted overwhelmingly (with an 87 to 13 vote) to approve the bill.
Being one step closer to redefining low-THC hemp as a legal plant, the doors of opportunity begin opening to new and better research, the production of more tailored premium quality formulations, and a strengthened economy benefiting from the legal interstate commerce of hemp and CBD products. With Presidential endorsement, a long-marginalized industry can quickly help revitalize the American economy.
The latest available numbers from the Hemp Business Journal show, that last year alone, hemp sales reached $820 million, with projections showing it could be worth $2.1 billion by the end of the decade; all generated before hemp was made commonly legal. Under the provisions laid out in the farm bill, the Controlled Substances Act will be amended in regards to hemp, with farmers now given more freedom to both grow many varieties of hemp, and collect crop insurance when necessary. Nationwide hemp production will soon commence, along with interstate commerce, allowing for the growth of what could be an ever-expanding industry.
“The farm bill is revolutionary,” said Kevin Hagen, CEO of PotNetwork Holdings. “If President Trump signs the bill, as predicted, the cannabis industry will be fortified and raised to a whole new level, bringing a new source of stimulation to the American economy. Over the past year Management has effectively positioned the Company to capitalize on that window of opportunity, with a consumer base ripe for growth through expanded interstate commerce and increased sourcing opportunities.”
PotNetwork Holdings’ industry-leading subsidiary Diamond CBD is positioned to benefit greatly from this landmark legislation. Diamond CBD, already well-established as a market leader in the CBD industry, will experience increased opportunity nationally, as sales barriers are torn down. Management is well positioned to capitalize on strategic partnerships and propel already established brands such as Chill, Chill Plus, Diamond CBD, and Chong’s Choice.
The new legislation could not have come at a more opportune time for the company. Hagen concludes: “I’ve heard it said that the greatest potential for extraordinary success is when timing and opportunity meet. At this stage in the game, we firmly believe, that standing on the threshold of a revolutionized industry, that our growth potential here can still be considerably exponential."
PotNetwork Holdings, Inc. applauds the members of Congress who helped pass this landmark legislation and hope to see President Trump sign the bill into law shortly.
About Diamond CBD, Inc.
Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Holdings, Inc.
PotNetwork Holdings, Inc. (OTC Pink: POTN) is a publicly traded company that acts as a holding company for its principal subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD products. For more information, please visit its website at www.PotNetworkHolding.com
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Contact: PotNetwork Holdings, Inc.
Investor Relations: Marisol Elwell