NEW YORK, NY / ACCESSWIRE / December 21, 2018 / The bill President Trump signed into law yesterday includes major support for the hemp-related product industry, which includes cannabidiol (CBD). The new Farm Bill designates hemp as an agricultural product, and amends a drug law that has been in effect for over fifty years.
In anticipation of this groundbreaking legislation, Sparta Commercial Services (OTC PINK: SRCO) recently launched New World Health Brands CBD (www.newworldhealthcbd.com), a distributor of premium grade hemp cannabidiol products. Sparta has rolled out its new product line via its consumer-facing platforms (website & mobile app).
According to a recent report by the Brightfield Group, the CBD market is expected to be a $22 billion industry by 2022. Says Anthony Havens, Sparta's CEO, "Yesterday's news confirms our belief that the CBD market is poised to ignite. The shift in how CBD products are treated will greatly benefit companies like ours, and we intend to capitalize on this rapidly emerging industry."
About Sparta Commercial Services Inc.
Sparta Commercial Services, Inc. (www.spartacommercial.com), through its subsidiary, iMobile Solutions, Inc., provides comprehensive vehicle title history reports to dealers, insurance companies, credit unions and consumers. Sparta, via its iMobileApp product (www.imobileapp.com), has also become a leader in developing and servicing custom mobile apps for a wide range of businesses including restaurants, liquor stores, racetracks, and clubs; as well as vehicle dealerships including Harley-Davidson® and John Deere. Other mobile communications products offered by Sparta include website design, development, hosting and SEO services, and a text messaging and alert service. Sparta's Municipal Leasing Division (www.spartamunicipal.com) offers and administers a specialized municipal leasing program for local and state agencies with jurisdictions seeking a better way to finance their growing essential equipment needs such as police motorcycles and cruisers, EMS equipment and busses, and any type of equipment a municipality requires. The latest product offering, via www.newworldhealthcbd.com, offers a full array of hemp-derived CBD products that include oils, topicals, capsules, tablets, pet and livestock tinctures.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are valid only as of today and we disclaim any obligation to update this information. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, competition, financing and commercial agreements and strategic alliances, seasonality, potential fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov.
Company Contact:
Sandra L. Ahman
Corporate Secretary
Sparta Commercial Services, Inc.
[email protected]
SOURCE: Sparta Commercial Services