Industry Leader Says Sessions Has Given Cannabis Industry the Green Light
Hemp Inc. has reported that it appreciates the clarity provided by U.S. Attorney Jeff Sessions in his recent statement that the U.S. Justice Department would not be pursuing small marijuana cases.
According to The Guardian, “Federal prosecutors will not take on small-time marijuana cases, despite the Trump justice department’s decision to lift an Obama-era policy that discouraged authorities from cracking down on the trade in states where the drug is legal.” Sessions told students in a speech that Federal law enforcement lacks the resources to take on “routine cases” and will continue to only focus on gangs and larger conspiracies.
While this is good news for the cannabis industry at large, Sessions’ stance on cannabis does not include industrial hemp nor does it include kenaf – both plants are being planted and harvested by Hemp, Inc. and its strategic farming partners in North Carolina. Hemp products are high in cannabidiol (CBD) and have only trace amounts of THC – the psychoactive component in marijuana that most associate with being “high;” hemp-derived CBD products are legal to import and sell in all 50 states.
The company issued an announcement on Jan. 5, 2018, about “Sessions’ Obsession” with marijuana and how it does not impact the industrial hemp industry. Hemp, Inc. CEO Bruce Perlowin also recently spoke with cannabis-focused media outlet Cashinbis about the reasons why the U.S. government’s stance on marijuana does not affect the industrial hemp industry.
“We are encouraged by Sessions’ latest remarks, but want to make it clear to the public and our shareholders that hemp products are completely legal for consumers to purchase and/or consume in the United States,” said Hemp, Inc. CEO Bruce Perlowin. “We are aggressively ramping up our operations to capture the multi-billion dollar hemp market, which is projected to grow 700% and hit $1.8 billion by 2020.”