Dewmar International BMC Inc (OTCMKTS:DEWM) has issued a report applauding US legislators for accepting reforms on the legalization of industrial hemp in the 2018 Farm Bill. The move is welcome by Dewmar because of its direct effect on United States Hemp Corporation which is one of Dewmar’s subsidiaries. After the president signs the bill, it is expected that for the first time in years United States Hemp Corporation and other companies are going to start growing and selling hemp products such as CBD in the United States.
Hemp prospects
United States Hemp Corporation as a subsidiary of Dewmar has been influential in the creation of the Kush Cakes formula that is used to make Kush Cakes, which is one of the products they have been selling. Dewmar is the only public company that has a subsidiary firm in the hemp business in the last four years that has been creating and selling hemp products.
Strategizing on hemp business
The company is making plans to determine in which states they want to strategically expand with the new opportunities presented so that they can be better placed to take advantage of the new markets created by the Farm Bill. The new markets for industrial hemp are expected to generate significant and new revenues.
Dewmar has been on the front foot all along because in 2015 they invested in New West Genetics a firm that deals with genetic technologies of hemp seed. According to the Founder and CEO of Dewmar, Dr John McKay, he was glad to have been involved with New West Genetics as they looked to get a comprehensive understanding on hemp seed technology which has great opportunities as well as a lot of potential. He adds that the investment in hemp seed technology was one of their best moves and he has high expectations for high yields in the future, something that can boost their shareholder base.
Although Dewmar has been silent in 2018, they have nonetheless been making progress with their subsidiaries, and they expect that 2019 will be fruitful for their business.