Canbiola, which manufactures a variety of cannabidiol-based products like oils, creams and moisturisers, recently announced signing a letter of intent with Shi Farms in Colorado to cultivate, accumulate and process hemp in New York State under a license from the latter. Both plan to create a venture to develop a ‘depot model’ for hemp processing in New York.
Canbiola would manage and direct the New York depot, where fully grown hemp harvested by third-party cultivators would be purchased and stored. The raw material (biomass) would be aggregated and then shipped to Shi Farms’ facility in Pueblo, Colorado, where it would be processed by the Shi Farms’ other joint-venture partner, Mile High Labs, according to a press release from Canbiola.Canbiola, which manufactures a variety of cannabidiol-based products like oils, creams and moisturisers, recently announced signing a letter of intent with Shi Farms in Colorado to cultivate, accumulate and process hemp in New York State under a license from the latter. Both plan to create a venture to develop a 'depot model' for hemp processing in New York.#
“We believe this is a robust growth opportunity for Canbiola, and with Shi Farms as our partner, it would give us the scale and flexibility to increase our revenue in a profitable manner, said Canbiola chief executive officer Marco Alfonsi. (DS)
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