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Coconut Creek, FL, Dec 21, 2018 - (ACN Newswire) - via NEWMEDIAWIRE -- NutraFuels, Inc (NTFU) applauds the passage of the 2018 Farm Bill allowing federally insured banks to legally work with merchants for product processing as well as the removal of barriers for research and industrial hemp production.
"The hemp industry has been challenged over the years because of banking restrictions. It has caused challenges from the standpoint of merchant product processing for hemp-derived CBD products. It also caused headwinds with respect to many aspects of the companies operating in the hemp public markets," said Edgar Ward, CEO and Founder of NutraFuels.
Brightfield Group estimates the worth of the hemp CBD market to be $22 Billion by 2022, outpacing the rest of the cannabis market combined. "We've been planning and preparing for an increase in CBD product demand in anticipation of the passage of the 2018 Farm Bill," added Ward.
The updated language from the Farm Bill defines hemp in a way that removes it from the Controlled Substances Act. Going forward, hemp will be classified as an agricultural commodity under federal law. Farmers will now benefit from the removal of barriers to obtaining crop insurance. Shareholders and manufacturers will see the removal of restrictions on importing and exporting hemp which contributes to the projected boost of growth for the hemp industry.
"The lack of legal clarification and the longtime stigma around hemp has dampened the business opportunity and created concern for the investment community," said Ward. "The new law provides clarity and the legal parameters to enable companies like NutraFuels to capitalize on a more efficient operating environment and market expansion."
NutraFuels (www.nutrafuels.com) is a fully reporting company in a class of securities registered with the SEC. The Company's filings can be viewed at www.sec.gov. NTFU's CBD products and information about the company's direct sales program can be found at www.nutrahempcbd.com and by following the company on Instagram.
Edgar Ward
+1-561-212-3816
edgar@nutrafuels.com
Forward Looking Statements
This communication contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as "may," "will," "except," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements largely on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on information available to the Company on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. More detailed information about these risk factors are set forth in the Company's filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Risk Factors," in the Company's Annual Report on Form 10-K with the Securities and Exchange Commission on April 17, 2018. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company's management to predict all risk factors, nor can the Company assess the impact of all factors on Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statement. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law.
Topic: Press release summary
Source: NutraLife Biosciences, Inc.
Sectors: Agritech, Food & Beverage, BioTech, Healthcare & Pharm, Funds & Equities
https://www.acnnewswire.com
From the Asia Corporate News Network
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