Player’s Network (OTC: PNTV) is looking to focus on CBD in 2019
Hemp has historically been used to create a wide variety of products to include food, paper, cardboard, carpets, clothes and rope. Unfortunately the Marijuana Tax Act of 1937 brought production of hemp products to a near standstill. While hemp is derived from the marijuana plant, hemp products do not carry the psychoactive qualities that are found in marijuana. Supporters of hemp production for the above listed products and the emerging CBD market (another product derived from hemp that does not get you high) have long fought to have hemp treated differently than marijuana when it comes to the laws governing manufacture, production and sales.
Kentucky senators Mitch McConnell and Rand Paul along with help from Oregon democratic senators Jeff Merkley and Ron Wyden introduced a bill earlier this year that was wrapped into the broader farm bill which passed legislation earlier this week and is expected to be signed into law by President Donald Trump. This bill essentially removes the barriers associated with growing hemp due to federal prohibition to include restricted access to banking, water rights, and crop insurance. The signing of this bill will define hemp as an agricultural product for the first time and represents the first time that a major drug law has been amended in 50 years.
Hemp, a plant that is roughly identical in appearance to marijuana is the most common source of cannabidiol, more commonly referred to as CBD. CBD has been known to be an alternative to opiates for the management of chronic pain along with the ability to reduce anxiety and depression. Plenty of research suggests that CBD is also effective for the treatment of acne and may even have neuro-protective properties that might provide benefits for those suffering from neurological disorders. Moreover, many combat veterans have turned to CBD as a treatment for post traumatic stress disorder (PTSD)
CBD continues to be one of the fastest growing markets in the United States with sales expecting to reach $22 billion by 2020. The passing of the farm bill and the subsequent removal of restricting legislation will directly benefit companies like Player’s Network (PNTV) and MJ Venture Partners (MJVP) which produce a wide variety of CBD products under the brand Green Leaf Pure. This legal shift in opinion towards CBD and hemp is expected to send stock values for companies such as Player’s Network skyrocketing.
It is important to keep in mind that the current CBD market is valued at approximately $1 billion. An increase of $19 billion in revenue over the next 12 months will make the CBD market one of the fastest growing industries in the US. Player’s Network subsidiary Green Leaf Farms and the Argentine province of Jujuy recently announced a joint venture to develop the largest cannabis farm in the world. The deal will include the development of a 33,600 acre property to cultivate a wide variety of CBD and THC rich cannabis genetics to serve both the domestic and international markets; making Player’s Network the largest producer of raw CBD oil in the world.