SEATTLE, WA / ACCESSWIRE / June 26, 2020 / GRN Holding Corporation (OTC PINK:GRNF) (the "Company"), is pleased to announce that Sunshine Hemp, Inc. ("Sunshine"), the first permitted University Hemp research program in Florida, received the first approval in the State for "Pilot Project Hemp Seeds" which allows Sunshine the opportunity to legally sell those hemp seeds to a potential market of approximately 1,200 applicants who applied for cultivation licenses in Florida's new State Hemp Program. Sunshine Hemp will be the only University approved company with tested strains of premium CBD and CBG dominant feminized hemp seeds, seedlings, and cultivars for sale to Florida growers.
In 2018, Sunshine Hemp partnered with Florida A&M University in the Florida Industrial Hemp Research Pilot Program authorized under Section 1004.4473, F.S to research, test and commercialize hemp genetics that would perform well in Florida and meet all state and federal compliance guidelines.
After a rigorous 12-week research program with extensive data analysis and testing at the Sunshine Hemp research sites in Florida, the University approved the seeds as the first "Pilot Project Hemp Seeds & Cultivars" under the stringent guidelines dictated by Florida law and the Florida Department of Agriculture and Consumer Services. This allows Sunshine Hemp to market and sell seeds, seedlings, and cultivars to hemp growers in Florida as well as outside the state.
The approval positions Sunshine Hemp to be first to market with legal hemp seeds, seedlings, and cultivars. Under Florida law s. 581.217, F.S. all hemp growers are required to use hemp seeds that are either University approved "Pilot Project Hemp Seeds and Cultivars" or hemp seeds certified by the Association of Seed Certifying Agencies (AOSCA). The strict hemp genetics requirements were enacted in law to ensure that Florida hemp growers would use seeds certified as high quality, stable, consistent, and compliant with federal and state requirements. All hemp growers are required to use a certified seed.
In 2019, Sunshine Hemp, Inc. entered into a binding LOI with the Company to become part of the family of GRN Holding businesses. The Company and Sunshine are pending completion of the transaction. The approval of Sunshine Hemp seeds makes Sunshine the leading hemp seed provider in the state. Sunshine plans to launch a major hemp breeding program over the course of the next 6 months.
Sunshine partner and GRN Advisory Board member, Dr. Jeffrey Sharkey, said "We are truly excited about Sunshine Hemp's genetic research efforts and receiving the first University approval in the state for "Pilot Project Hemp Seeds". Once growers heard we were the only program with state approved hemp seeds, we have received dozens and dozens of inquiries to purchase seeds, seedlings and cultivars."
About GRN Holding Corporation
GRN Holding Corporation (OTC Pink:GRNF) is a Nevada registered publicly-traded company.
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About Sunshine Hemp
Sunshine Hemp is a Florida-based business led by one of the most experienced hemp producing teams in the U.S. The team includes, CEO Mike Kelley, former founder of a global hemp company in Kentucky, award winning hemp cultivator Doug Warren, Justin Costello, of GRN Funds, a private equity and hedge fund investor, and Dr. Jeffrey Sharkey, a Tallahassee based consultant, who was directly involved with state hemp legislation and regulation. Florida A&M University provided a highly skilled research team to work closely with Sunshine Hemp.
For more information on Sunshine Hemp, please contact:
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE: GRN Holding Corporation