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Home 🌿 Marijuana Business News 🌿 CannaVest's Change From Single Distributor Model is Paying Dividends 🌿CannaVest's Change From Single Distributor Model is Paying Dividends
One of the companies we have become more favorable on is CannaVest Corp. (CANV). The company develops, produces, markets, and sells raw materials and end consumer products containing the hemp plant extract, cannabidiol (CBD). CANV is currently establishing pilot hemp growing operations in the United States with the goal of establishing domestic industrial hemp operations in the future. CANV refines CBD into its own PlusCBD Oil brand and it also resells raw industrial hemp product to third parties. The company’s subsidiaries include: US Hemp Oil, LLC, and CannaVest Laboratories, LLC.
CANV has entered into supply agreements with two European farmers who supply the company with raw material. The first contract is for 2,600 kilograms of product, which is currently scheduled to be delivered through December 31, 2015. The second contract provides CANV with up to one million kilograms of raw product. CANV owes the suppliers a total of $900,000. Under...
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