Alliance Growers (OTCQB:ALGWF) has announced that they are now better positioned to take advantage of the rapidly expanding hemp CBD market in Canada. The company expects to capitalize on the growing hemp industry through sharing of proceeds of the CBD-rich Dana strain.
Hemp production similarly increased both in the United States and Canadian markets for hemp tissue culture plantlets.
Russ Crawford, the Canadian Hemp Trade Alliance President, indicated that the growth of the market would benefit Canadians since they will have a more significant share of it as they continue to compete. Also, the legalization of hemp in the United States by the adoption of the Farm Bill will open more opportunities across the world.
Following the increase in market opportunities, Hempco Canada is planning the commissioning of their largest hemp facility in Leduc Alta. Many companies similarly want to build cannabinoid extraction and food processing facilities in Canada.
Alliance Growers CEO, Dennis Petke, said that the company was in a better position following the establishment of a strategic affiliation with Pharmagreen. The company thus will benefit significantly from the profits that will result from the sale of the CBD Dana plantlets across the globe.
Similarly, they expect to benefit from the high-profit margins resulting from the business arrangement between Canadian hemp farmers and commercial hemp operations.
CBD Dana Strain
The company has also acquired access to the proprietary Dana CBD strain. Dana CBD has uses that include the treatment of epilepsy, multiple sclerosis as well as being used as a potent inhibitor in the proliferation of cancerous cells, tumors and other cancer metastases.
The Dana CBD strain has as high as 14% CBD and 0.3% THC which means its yield is high compared to traditional hemp strains which have around 1% of these cannabinoids. Since the strain has low THC levels, it is thus classified as industrial hemp making it ideal for growing because of fewer restrictions.
The female Dana strain plantlets that the company is producing will be accessible to hemp farmers across the world. Female seedlings have high yield, and thus they are likely to boost CBD production.
