Hemp Legalization Reported in New Farm Bill Could Help The Industry Top 20 Billion by 2020
December 11 2018 - 6:19AM
InvestorsHub NewsWire
Denver, CO -- December 11, 2018 -- InvestorsHub NewsWire --
Ubiquitech Software Corp. (OTC: UBQU), through its operating
subsidiary HempLife Today™, is bringing awareness to shareholders
of the impending 2018 Farm Bill that could be signed as early as
this week. The bill would legalize hemp cultivation and could be a
catalyst for explosive growth in the hemp and CBD Oil industry,
that some forecast could top 20 billion by 2022.
The long-awaited bill would remove industrial hemp from the
federal government's list of controlled substances, making it a
lawful agricultural commodity at the federal level. The hemp
legislation introduced by Senate Majority Leader Mitch
McConnell, R-Ky., earlier this year also allows states to become
the primary regulators of hemp cultivation, enables researchers to
apply for federal grants and makes the crop eligible for crop
insurance.
"This opens the floodgates for this industry to grow very
rapidly and scale on a national level," said Bethany
Gomez, director of research for Brightfield Group, a cannabis
market researcher based in Chicago. (As quoted by CNBC)
The largest amount of the current $800 million U.S. hemp market
is for products that include the non-psychoactive compound CBD,
cannabidiol. Like the CannazALL™ CBD products created by HempLife
Today™, and the Company expects this new legislation to be a boon
to the industry and its growing sales platforms.
CEO James Ballas stated, “Everything we have done with
HempLife Today and its CannazALL brand of quality USA grown CBD
products has been to get us to this moment, and we are looking
forward to this incredibly important new chapter in our industry.
With all of our sales platforms in place we are looking towards
explosive growth throughout 2019 and beyond.”
The Company will update shareholders on the passing of the 2018
Farm Bill and continue to update shareholders on all Company plans
for 2019.
Ubiquitech Software Corp, through its subsidiaries, is a dynamic
multi-media, multi-faceted corporation utilizing state-of-the-art
global internet marketing, DirectResponse (DRTV) Television, Radio,
Internet Content, and traditional marketing to drive traffic to the
new and emerging multi-billion dollar industries like its
subsidiaries HempLifeToday™ and CryptoBuy.com
About HempLife Today™
HempLifeToday™ focuses on the exciting and dynamic new thinking
in the world today that recognizes the important health and
life-enriching enhancement that CBD Oil from the Hemp plant can
bring. Through its network of quality USA growers,
HempLifeToday.com™ has developed multiple and proprietary
CannazALL™ CBD oil products that include; its popular CBD
Tinctures, Concentrated Oils, GelCaps, Skin Salve, e-liquid, and
CannazALL Pets™ CBD products all offered
@ www.HempLifeToday.com
About CryptoBuy
CryptoBuy.com focuses on the burgeoning new world of Crypto
Currencies and is created to be a service to persons interested in
tracking and trading the many existing and future Crypto Currencies
worldwide.
This press release contains forward-looking statements. Words
such as "expects", "intends'', "believes'', and similar expressions
reflecting something other than historical fact are intended to
identify forward-looking statements, but are not the exclusive
means of identifying such statements. These forward-looking
statements involve a number of risks and uncertainties, including
the timely development and market acceptance of products and
technologies, the ability to secure additional sources of finance,
the ability to reduce operating expenses, and other factors
described in the Company's filings with the OTC Markets Group. The
actual results that the Company achieves may differ materially from
any forward-looking statement due to such risks and uncertainties.
The Company undertakes no obligation to revise or update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
Contact / Investor relations IR@UbiquitechSoftware.com
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